Sunday 29th January 2017 by THISDAY Newspapers Ltd

Chaos, Anxiety as Trump’s Travel Moratorium Takes Effect Scores detained at US airports Anayo Okolie with Agency Reports As US President Donald Trump’s order targeting citizens from seven predominantly Muslim countries

reverberated across the world on Saturday, it became increasingly clear that the controversial measure he had promised during his presidential campaign was casting a wider net than

Green card holders affected even his opponents had feared. Confusion and concern among immigrant mounted throughout Saturday as travelers from the Middle East were detained at US

Iran bans US citizens in retaliation

airports or sent home. Trump’s policy of barring citizens from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen has caused outrage around the world. The Republican billionaire

signed an executive order on Friday that suspended travel visas for anyone from those seven “countries of particular concern” from entering the US for at least 90 days.

But as the day progressed, administration officials confirmed that the sweeping order also targeted US legal residents from the named Continued on page 8

NERC May Shelve Proposed Tariﬀ Hike Due to Recession, Discos' Lawsuit … Page 12 Sunday 29 January, 2017 Vol 21. No 7955

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Masaba, Super Polygamist Who Married 97 Wives, is Dead Nseobong Okon-Ekong and Laleye Dipo in Minna Fame comes in many ways. For Mohammed Bello Masaba, the Bida,

Niger State-based Islamic cleric who died at the weekend, his rise to global prominence was linked to marriage to 97 wives, an unprecedented nuptial

liberty which attracted attention worldwide. Reports put the time of his death at 11:00 am on Saturday after a brief illness.

His Secretary, Alhaji Mutairu Salawudeen Bello, confirmed his death on Saturday saying the remains would be buried today (Sunday) at 10.00am.

News of the demise of the 93-year-old cleric was kept secret for several hours on Saturday especially after he did not come out in the early hours of the

day to lead the Tafsir, a gathering for the learning of the Quran as he used to do weekly. Continued on page 8

Concern Mounts over Chief Justice, Olanipekun Weighs in Cites lack of seamless transition in judiciary for the first time since 1958 Abimbola Akosile Less than two weeks to the expiration of the three months within which a person can legally serve as acting Chief Justice of Nigeria, the non-transmission of the name of Justice Walter Onnoghen to the Senate for confirmation as substantive CJN has continued to draw concern and fear. President Muhammadu Buhari had on November 10 last year named Onnoghen, the most senior justice of the Supreme Court, as acting CJN. That was following the retirement of Justice Mahmud Mohammed at the statutory age of 70. But Buhari has remained mum on the forwarding of Onnoghen’s name to the Senate for confirmation as required by the constitution, despite the imminence of Continued on page 8

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CELEBRATING LAGOS @50 Lagos State Governor, Mr. Akinwunmi Ambode (2nd left), former Governor of Ogun State, Aremo Olusegun Osoba (left); Minister of Information and Culture, Alhaji Lai Mohammed (middle); wife of Lagos State Governor, Bolanle (2nd right), and Senator Olamilekan Adeola during the opening of the Rasheed Gbadamosi Art Exhibition at Eko Hotel & Suites, Victoria Island, as part of activities to celebrate Lagos@50 ... Friday

SUNDAY JANUARY 29, 2017 T H I S D AY

T H I S D AY SUNDAY JANUARY 29, 2017

T H I S DAY, T H E S U N DAY N E W S PA P E R ˾ JANUARY 29, 2017

PAGE EIGHT CONCERN MOUNTS OVER CHIEF JUSTICE OF NIGERIA February 10, when he must cease to act as CJN. This has fuelled anxiety and fear that the president may have decided to block the emergence of the 66-year-old justice as substantive CJN based on extra-constitutional considerations. The concerns are heightened by the fact that Cross River-born Onnoghen would be the first southerner to emerge CJN in line with the judiciary’s succession tradition in nearly 30 years. At the weekend, former president of the Nigeria Bar Association, Chief Wole Olanipekun, SAN, warned the federal government against the creation of a hazardous uncertainty in the polity by the refusal of Buhari to transmit Onnoghen’s name to the Senate for confirmation as substantive CJN. Olanipekun gave the advice in a statement released yesterday. He accused the Buhari government of setting a dangerous precedent by causing Onnoghen to linger on the post of acting CJN since November 10 last year. The 1999 Constitution mandates the president of

the country to appoint the CJN on the recommendation of the National Judicial Council, and subject to the confirmation of the Senate. The NJC, having performed that constitutional role by recommending Onnoghen to Buhari for appointment as CJN after its meeting on October 11 last year, Olanipekun believes it is incumbent on the president to forward the name of the justice to the Senate for confirmation. In the statement titled, “The Imperative of Appointing and Swearing-in a Substantive Chief Justice of Nigeria,” the former NBA president quoted extensively from the constitution to buttress his point. Section 231 (1) and (4) formed major planks of his argument. Subsection (1) states, “The appointment of a person to the office of Chief Justice of Nigeria shall be made by the President on the recommendation of the National Judicial Council subject to confirmation of such appointment by the Senate.” Subsection (4) states, “If the office of Chief Justice

of Nigeria is vacant or if the person holding the office is for any reason unable to perform the functions of the office, then until a person has been appointed to and has assumed the functions of that office, or until the person holding the office has resumed those functions, the President shall appoint the most senior Justice of the Supreme Court to perform those functions. “ Olanipekun said, “To my mind, immediately after this recommendation, NJC had completed its constitutionally vested duty, thus, becoming funtus officio. It can no longer revisit, review or re-examine the recommendation it has made. Section 158(1) of the Constitution guarantees not just the independence of the NJC, but also the sanctity of the decision it has arrived at. The NJC has no constitutional latitude to approbate and reprobate on the subject. “Starting from that point, particularly, on receipt of the recommendation of the NJC by Mr. President, the ball shifted to the

President’s court; but has to be passed to the Senate simply in accordance with the wordings and dictate of the Constitution. The law has well crystallised in the proposition that where the wordings of a statute, particularly the Constitution, are clear, they merely call for application, and not interpretation.” Olanipekun believed the appointment of Onnoghen as acting CJN was, ab initio, a misnomer. He held, “In the face of a definitive recommendation by the NJC to Mr. President for the appointment of a particular Justice as the Chief Justice of Nigeria, Mr. President cannot fall back on the provision of Section 231(4) to appoint that same Justice as the acting Chief Justice of Nigeria. “With every sense of responsibility, Section 231(4) will come into play if, for example, after the receipt of the NJC’s recommendation, the President has forwarded the name of the Hon. Justice Onnoghen to the Senate, and as at November 10, 2016, when the last holder of the office of Chief Justice

of Nigeria retired, the Senate had not reverted to the President, confirming the appointment or deciding otherwise. Then, there would have been an interregnum. “With the situation of things whereby the NJC has made recommendation to Mr. President under Section 231(1), the said sub-section and sub-section (4) have become mutually exclusive. In its clear wordings, the Constitution does not expect that an interim appointment should be made in the circumstances. By its tenor and spirit, the Constitution does not contemplate it.” Olanipekun likened Buhari’s failure to send Onnoghen’s name to the Senate to a situation where the CJN refused to swear in the president-elect because his election was being contested in court, or the Senate refused to consider ministerial nominees sent by the president because it disagreed with the process that brought the nominees. Lamenting what he called a disruption of the succession tradition, Olanipekun said, “Right

from the appointment of Sir. Adetokunbo Ademola as the first indigenous Chief Justice of Nigeria in 1958, and through to 2014 when the Hon. Justice Mahmud Mohammed was appointed as the 14th indigenous Chief Justice of Nigeria, change of baton at the Supreme Court had always been smooth and seamless. “There had not been any interregnum; no appointment of acting Chief Justice, not even when the Hon. Justice S. M. A. Belgore was appointed as Chief Justice of Nigeria for about six months.” He said, “Mr. President has not communicated with the NJC to give any scintilla of reason or excuse as to why the name of the person recommended by it under Section 231(1) of the Constitution has not been forwarded for confirmation. To the best of my knowledge as well, Mr. President has not expressed any reservation or communicated such to the NJC about the recommended candidate. Why then the suspense?"

“retaliation” for Trump’s ban on travellers from the seven majority-Muslim countries. Tehran’s foreign ministry said in a statement it would enforce its own ban “until the offensive US limitations against Iranian nationals are lifted”. "While respecting the American people and distinguishing between them and the hostile policies of the U.S. government, Iran will implement the principle of reciprocity until the offensive U.S. limitations against Iranian nationals are lifted," the Foreign Ministry statement said. The US ban is an “affront against the Muslim world”,

the statement said, adding it would be a “great gift to extremists”. Earlier on yesterday, Iran’s President Hassan Rouhani issued a thinly-veiled criticism of the US President. Without naming Mr Trump, he said now was not the time to build barriers between nations. "Today is not the time to erect walls between nations. They have forgotten that the Berlin wall fell years ago," he said in a speech. Foreign airlines are already barring Iranians from traveling to the United States following President Trump’s temporary order barring visas for the seven Muslim countries, travel agents in Tehran said Saturday. Two agencies told AFP they had been instructed by Etihad Airways, Emirates and Turkish Airlines not to sell US tickets or allow Iranians holding American visas to board US-bound flights. With more than a million Iranians living in the United States, many families are concerned about the implications of Trump’s visa ban. An Iranian studying in California who was visiting home said Saturday that she could not return because her ticket had been cancelled under the new restrictions. “I had a ticket for Turkish Airlines on February 4, but it has been cancelled,” the girl who did not wish to be identified told AFP. “I’ve informed the university officials by mail and they were surprised. They are going to send me a letter so I can try fly from Europe.” On Thursday, one of Iran’s most popular actresses said she would boycott next month’s Academy Awards ceremony in Los Angeles in protest at the US ban.

“Trump’s visa ban for Iranians is racist. Whether this will include a cultural event or not, I won’t attend the #AcademyAwards 2017,” tweeted Taraneh Alidoosti, who stars in the Oscarnominated “The Salesman.” A middle-of-the-night lawsuit filed on behalf of two Iraqi men challenged Trump’s executive action, which was signed Friday and initially cast as applying to refugees and migrants. The virtually unprecedented measures triggered harsh reactions from not only Democrats and others who typically advocate for immigrants but also key sectors of the US business community. Leading technology companies recalled scores of overseas employees and sharply criticized the president. Legal experts forecast a wave of litigation over the order, calling it unconstitutional. Canada announced it would accept asylum applications from US green-card holders. Yet Trump, who centered his campaign in part on his vow to crack down on illegal immigrants and impose what became known as his “Muslim ban,’’ was unbowed. As White House officials insisted that the measure strengthens national security, the president stood squarely behind it. Meanwhile, the United Nations has condemned the ban and the International Organisation for Migration called on the new President’s administration to continue offering asylum to people fleeing war and persecution. “The needs of refugees and migrants worldwide have never been greater and the US resettlement program is one of the most important in the world,” the two agencies said in a joint statement.

CHAOS, ANXIETY AS TRUMP’S TRAVEL MORATORIUM TAKES EFFECT countries — green-card holders — who happened to be abroad when it was signed. Also subject to being barred entry into the United States are dual nationals, or people born in one of the seven countries who hold passports even from US allies such as the United Kingdom. Within hours of President Trump’s executive order limiting immigration from Muslim countries, green card and visa holders were already being blocked from getting on flights to the US. The Arab-American Anti-Discrimination Committee said people who had already landed were being

sequestered at airports and told they have to return to their point of origin. The Department of Homeland Security issued a directive at 4:30 p.m on Saturday ordering the Customs and Border Protection to enforce the executive order. “For those already here, we won't actually know until the flights back to these areas begin departing,” Abed Ayoub of the ADC said about the crisis. “We’re hearing from a lot of people concerned about family members, friends, classmates. We're hearing about a lot of folks asking ‘should I cancel my

plans,’ and from folks who had to cancel events because of this.” Customs officials said the number of people who arrived here and were turned back was not immediately available Friday night. “It takes time to collect all the numbers,” a spokesman said. “It will be a decision from the highest levels of The Department of Homeland Security to decide if and when the data may be available.” Iran in a swift reaction invoked the principle of reciprocity by blocking American citizens from entering the country in

MASABA, SUPER POLYGAMIST WHO MARRIED 97 WIVES, IS DEAD THISDAY checks confirmed the cleric was conspicuously absent at the Jummat prayers on Friday "In fact baba slumped twice on Friday and we had to give him medical attention in the house," a close aide confided in THISDAY. Masaba’s celebrated marital controversies stretched the limits of the Islamic and state legal codes. For being blunt and taking polygamy beyond known limits, he was charged under Sharia law and sent to prison. He was also threatened with mob action from members of his community in Bida who perceived his behavior as anti-social. Masaba had married a total of 107 women in his time. He divorced 10. At the time of his death, he had 97 wives. This is not the first time Masaba would be reported dead. Rumours of his death were rife last October, but he emerged to debunk it. The Nigerian superpolygamist only had one

distant contender to his notorious crown in the person of another super polygamist, 71 year-old Ziona Chana of India who was reputed to have 39 wives and 94 children six years ago. Born in 1924 to the Masaba ruling house in the ancient Bida kingdom, Masaba came to national limelight when he was engaged in a face-off with the Niger State government and other clerics after claiming that he married 86 wives. Influential institutions like Jama'atu Nasiru-l Islam (JNI), the Bida Emirate Council and an assembly of Islamic leaders had at different times spoken on Masaba’s extreme polygamy and urged him to divorce some of his many wives and retain four wives which is the number allowed by Islam. Rejecting this option, an Islamic court sent him to prison, but this sentience was later upturned by a Federal High Court in Abuja.

He fathered at least 187 children from his wives, some of who he outlived. A former Governor of Niger State, Dr. Muazu Babangida Aliyu, had in the heat of the controversy generated by his extreme polygamy, expressed the frustration of the government at checking Masaba’s perceived nuisance. "Though we have Sharia in place in the state, but we have no law to pin him (Masaba) down," Aliyu had lamented. While the state government and some Islamic groups berated his penchant for acquiring wives, his prosecution was difficult to pursue in many instances as there were no formal complaints from the women he married even though many of them were far younger than him. Instead they attested to the fact that he was a good husband and father. He claimed they were drawn to him by his reputation as a healer.

The famous polygamist argued that he could not have been found wanting because he lived in peace with his wives, and vowed to continue to continue to marry more wives. “I will keep marrying them for as long I am alive. Whoever is fighting me because of my wives or love life, such an individual has missed it. Left for me, I would have married maybe two wives, but what I am doing is divine. It is an assignment and I will keep marrying till the end of time. I just want to advise those fighting against the number of my wives to stop because such people are waging war against God, their creator." In one instance, however, one of his wives, Malama Azzatu Adamu, went to court to be separated from him after only seven months of wedlock, claiming among others, N1.5 million loan owed her and alleged physical assault on her after honouring invitation to come for settlement.

T H I S D AY SUNDAY JANUARY 29, 2017

JANUARY 29 2017 ˾ T H I S D AY, T H E S U N D AY N E W S PA P E R

SUNDAY COMMENT

Editor, Editorial Page PETER ISHAKA Email fififififififififififififi fififififififififififififififi

SECURING SCHOOLS FOR OUR CHILDREN SfififififififififififififififififififififififififififittfifififiGfififi fififififififififififi fifififififififififififi fifi fififififififififififififi

he National Parent-Teacher Association of Nigeria and allied bodies recently sought audience with President Muhammadu Buhari to discuss with him what is becoming a disturbing phenomenon: kidnapping of pupils and students from the premises of their schools by sundry criminal gangs. The demand was prompted by the recent vicious attack of some criminals on an elite school, Nigerian Tulip International College, in Ogun State. Some armed men had invaded the school and seized ﬁve members of staff and three students. Two days after the abduction, the kidnappers asked for a hefty ransom of N1.2 billion, an amount they later slashed to N750 million. The whereabouts of all the abductees - all females - were unknown for several days until they gained freedom last week after what must have been a most traumatic experience for them and their families. Unfortunately, that was not an isolated incident as many of the nation’s secondary schools are increasingly under siege as criminal gangs increasingly render them unsafe for studies. Repeated attacks on schools have also created fear in many vulnerable students, especially in some sections of the country. “When a school is under attack and students become targets”, said Manuel Fotaine, West Africa Regional Director of United Nations Children Fund (UNICEF), “not only are their lives shattered, the future of the nation is stolen.” Regrettably, this has become our lot in Nigeria today. Last March, three pupils of Babinton Macaulay Junior Seminary, Ikorodu, Lagos, were abducted in a commando-like operation just as four pupils and two teachers of Lagos State Model College, Epe, Lagos, were seized six months later in October. In between these, so many schools were raided by bandits across the country, seizing, harassing and collecting ransoms.

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S U N DAY N E W S PA P E R EDITOR TOKUNBO ADEDOJA DEPUTY EDITOR VINCENT OBIA MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLOfiKAYODE KOMOLAFEfi ISRAEL IWEGBUfiEMMANUEL EFENIfiIJEOMA NWOGWUGWU GROUP FINANCE DIRECTOR OLUFEMI ABOROWA DIVISIONAL DIRECTORS PETER IWEGBUfiFIDELIS ELEMAfi MBAYILAN ANDOAKAfiANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR ASSOCIATE DIRECTORS ERIC OJEH ASSOCIATE DIRECTORS HENRY NWACHOKORfiSAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWOfiUCHENNA DIBIAGWUfiNDUKA MOSERI GENERAL MANAGER PATRICK EIMIUHI GROUP HEAD FEMI TOLUFASHE ART DIRECTOR OCHI OGBUAKU II DIRECTOR PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL fififififififi fifififififififi fifi fififififififififififififififi

n the North-east where the brutal insurgent group Boko Haram operated with impunity for years, some 200 schools were reportedly burnt in the course of their futile campaigns to establish a caliphate. Indeed, violence and instability in the schools only helped their ignoble cause since, by their philosophy, “western education is sinful.” Their attack on Federal Government College, Buni Yadi, Yobe State on February 25, 2014, where some 51 students were murdered was designed to instil fear in the minds of the children and their teachers and to discourage the parents from sending their wards to school. Even more audacious was the abduction, on April 14, 2014, of 276 schoolgirls from their hostels in Chibok, an action which prompted the catchy hashtag, BringBackOurGirls. Although 57 of the girls later escaped and 21 have been released through negotiation, some 195 of the girls are still in captivity. The spate of kidnappings has prompted many to look out for ways of safeguarding students from physical threats and generally making the schools safe for study. The Safe Schools Initiative launched in 2014 after the Chibok kidnap, was meant to counter the growing attacks on the right to education and to build community security groups to promote safe zones for education, consisting of teachers, parents, police and community leaders. “We cannot stand by and see schools shut down, girls cut off from their education and parents in fear of their daughters’ lives,” said former British Prime Minister, Mr. Gordon Brown, then UN Special Envoy on Education at the launch. “The Safe School Initiative will put Nigeria on track to help more and more girls and boys go to school and learn.” Sadly, the idea has long been abandoned and the schools left to their individual devices. But all indicators suggest the threat to schools is not about to ﬂag. What’s more, many elite schools, including a good number of federal government colleges, are located in rural areas and many are without perimeter fencing, making them easy targets at a time the security agencies are stretched. Besides fending for their security in time of recession, the schools may not have many alternatives than to build partnerships with the authorities as espoused in the safe school initiative.

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GAMBIA: THE TRIUMPH OF DIPLOMACY

he departure of Gambia’s leader of 22 years, former President Yahya Jammeh on January 21, 2017 into exile in Guinea is a good ending to a drama that while it lasted created fear, foreboding and uncertainty, not only in The Gambia where the unfortunate drama began but also in West Africa and indeed the rest of Africa. For West Africa, whose sub-regional body, the Economic Community of West African States (ECOWAS) resolved not to condone impunity; it was a case of never again. In the late 1980’s and the 1990’s, West Africa was the centre of wasting civil wars that led to the devastation of Liberia and Sierra Leone. Those struggling nations with limited but untapped resources are still battling to find their feet and get the gory experiences of the civil war that devastated their countries behind them.

Like in the case of The Gambia, which thankfully has been averted, it began like a joke, a struggle for power that at first appeared foolish and then took on a life of its own and before long, ethnic loyalties were mobilised and before one could say ECOWAS! the citizens found themselves involved in murderous conflict. When the history of the effort to contain the civil wars that engulfed Liberia and Sierra Leone are written, great tribute would be paid to Nigeria and its leadership then under retired military president, Ibrahim Babangida and subsequent Nigerian leaders who came after him for supervising the mopping up of hostilities. Tribute would also be paid to ECOWAS, the African Union and the UN which supported the Nigerian military intervention thus making it a legal venture in international law. In the recent case of the Gambian impasse and unlike what obtained

in the former cases we had in Liberia and Sierra Leone, one has to commend the singular determination of the leadership and member-states of ECOWAS who from the word go, frowned at the unfolding illegality and unconstitutionality brewing in the Gambia, and which left unattended would have presented the sub-regional body with a dilemma as well as a bad example in the attempt to enthrone democracy and orderly transfer of power in the sub-region after the commendable example of Nigeria in 2015, which brought President Muhammadu Buhari to power. It was therefore natural that in reaching the consensus to say no to sit-tightism and impunity, and ensure that the culture of democracy which has been lit in Ghana, Nigeria and to some considerable degree in other ECOWAS states was not extinguished, the sub-regional body took the unambiguous and coura-

geous step of saddling Nigeria with the responsibility of ensuring that normalcy and the constitution was restored in The Gambia. It needs be noted that while Guinean President, Alpha Conde and the Mauritanian President Mohammed Ould Abdel Aziz held the final meeting that convinced former Gambian leader, Yahya Jammeh that he has no other choice than to revert to his earlier acceptance of the result of the December 2016 presidential election in his country, the foundation had already been laid by the ECOWAS mediation team led by Nigeria’s Muhammadu Buhari. The ECOWAS mediation team set up immediately the sign of trouble reared its head was made up of President Buhari, Liberian leader, Eileen Johnson-Sirleaf, former president John Mahama of Ghana, who lost a recent election and peacefully accepted the result, the President of Sierra Leone, Ernest Bai Koroma and top

international diplomats. The Buhari-led mediation team took their task seriously. The presence of Liberia’s Eileen Johnson-Sirleaf, and her Sierra Leonean counterpart, Koroma, were instructive. The two countries suffered immensely because of politically-motivated civil war and today, these two leaders have the onerous responsibility to bring their countries back to reckoning. The team travelled twice to Banjul and met the then recalcitrant Yahya Jammeh who has ruled the tiny country for upwards of 22 after he led a successful coup d’état against former President Dauda Jawara. While it seemed that Jammeh was not moved by the mature counsel and entreaties of the distinguished team of leaders and ex- leaders of the sub-region, to the credit of the Buhari-led team, the bravado and coyness of the former Gambian leader, did not divide their ranks. ––Louis Okoroma, Abuja

T H I S D AY SUNDAY JANUARY 29, 2017

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Southern Kaduna Crisis: State Govt to Prosecute Peddlers of False News t As non-indigenes decry crises Jâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Sâ&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; Ă&#x201C;Ă&#x2DC; Ă&#x2039;Ă&#x17D;Ă&#x;Ă&#x2DC;Ă&#x2039;

HONOURING JELILI OMOTOLA Lâ&#x20AC;&#x2122;Râ&#x20AC;&#x2122; Uâ&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Lâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;UNILAGâ&#x20AC;&#x2122; Pâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;Câ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; Pâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; Jâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Gâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Vâ&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; Câ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; Pâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; Râ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Bâ&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Nâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Pâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122;

Sâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Nâ&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; Bâ&#x20AC;&#x2122; â&#x20AC;&#x2122; Aâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;NBAâ&#x20AC;&#x2122; â&#x20AC;&#x2122; Gâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Gâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Râ&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; Mâ&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Hâ&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; VCâ&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Jâ&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122;â&#x20AC;&#x2122;â&#x20AC;&#x2122; Aâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; Oâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122;SANâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; Yâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Lâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122;â&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122;

NERC May Shelve Proposed Tariff Hike Due to Recession, Discosâ&#x20AC;&#x2122; Lawsuit C O Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039;

The Nigerian Electricity Regulatory Commission (NERC) may not implement its planned increase in tariff for the 11 electricity distribution companies (Discos), THISDAY has learnt. Thedecisiontobacktrackonits move is predicated on countryâ&#x20AC;&#x2122;s current economic recession and therulingfrom thesuitatthetwo Federal High Courts (FHC) in Abuja instituted by eight Discos, stopping it from enforcing disciplineintheirrevenueremittances to the market. Inanexclusiveinterviewwith THISDAY at the weekend, the acting Chairman of NERC, Dr. Anthony Akah, disclosed that instead of a new tariff for the Discos,analternativeproposalto bridge possible market revenue gaps that might occur from the commissionâ&#x20AC;&#x2122;s eventual decision on its tariff review might be adopted. Akah said the proposal has been submitted to the Federal Government for consideration, and that the government will adopt a suitable policy position with stakeholders to keep the market stable, and consumers from rate shocks that may come from a fresh tariff. Though the NERC is statutorily mandated by the Electric Power Sector Reform Act (EPSRA) 2005, to periodically review and introduce cost reflective rates putting into considerations several indices, Akah, however, stated that it was presently constrained from announcing a new rate majorly for these two reasons.

He said while the Discos lawsuit had contributed to the marketâ&#x20AC;&#x2122;s financial challenges as they (Discos) consistently fall short of their remittance demands, the commission was opposedtorewardingthemwith a new tariff especially at a time they had underperformed and Nigerians were squeezed by the countryâ&#x20AC;&#x2122;s recessed economy. TheSenatehasalsoexpressed its opposition to a tariff hike, as well as financial subsidy for the sector. Akah, however, said that, â&#x20AC;&#x153;By contract,whichtheMYTO(Multi Year Tariff Order) represents, we are bound as a regulator to give the sector a tariff and undertake minor reviews as well, but there are some factors we are concerned about. One of them isthatthedistributioncompanies went to court to get a restraining order that has inhibited the checks and balances process we put in the market to ensure high level of operational discipline, highlevelofrevenueremittances and also give confidence to all the players in the value chain. â&#x20AC;&#x153;Presently,youcannotescrow theaccountsofthesedistribution companies if they fail to remit monies they collected, and a review of their remittance level is very poor and does not align with their high level collections. As far as we are concerned, the distribution companies are retaining far more than they should to the detriment of the transmission companies and generating companies. This is grosslyunacceptabletotheregulatorandwebelievethatthecourt order which we are challenging

may have contributed to this.â&#x20AC;? According to him, â&#x20AC;&#x153;For now, we are very averse to increasing tariff, we are concerned with the economic recession in the country, and imposing additional tariff on Nigerians, as well as that we need to be sure that the distribution companies and others have improved or delivered on the low hanging fruits to Nigerians on the tariffs they have got before. â&#x20AC;&#x153;We do recognise that we must also find a way to find a gap between what is a realistic tariff and what it is today and to that extent, we have submitted proposals to the government on itsconsiderationstocomeinwith a bond, subsidy or some kind of financial relief that would not be free money but soft loan or financial relief.â&#x20AC;? â&#x20AC;&#x153;We believe tariff increase on its own will not necessarily lead to improvements in power. However, a tariff increase that is matchedwithclearperformance indices with a robust regulatory monitoring would lead to the kindofpowerthatwearelooking for in this country. We are not subscribing to heavy tariff on Nigerians; we will rather prefer to look for other options that will take care of the gap in the tariff for today and what it ought to be due to changes in the economic indices,â&#x20AC;? he added. He said in the context of its proposal to the government for a comprehensive solution to the sectorâ&#x20AC;&#x2122;s challenges that it would wait for a response, and that, â&#x20AC;&#x153;in the absence of that comprehensive document coming out, we will not be able

to make any announcements at this point.â&#x20AC;? â&#x20AC;&#x153;We want to have a comprehensive solution to this issue, for now, we donâ&#x20AC;&#x2122;t want to allow any free money to any Disco or any of them taking advantage of electricity consumers, that is where we stand for now,â&#x20AC;? Akah noted In June 2016, through suits No. FHC/ABJ/CS/387/2016 and FHC/ABJ/CS/386/2016 of the two Abuja FHC, eight Discos got restraining orders to stop the NERC from implementing its directive for the Central Bank of Nigeria (CBN) to escrow the accounts of Discos who cannot meet their monthly payment obligations to the Nigeria Bulk Electricity Trading Plc (NBET). NERC and other connected persons were also restrained from compelling the Discos from entering into Promissory Note arrangement with NBET, as well as from calling on their LettersofCredit(LC)withNBET through certain commercial banks, pending the hearing and determination of the Motion on Notice. TheDiscosallegedthat,despite thecashflowproblemstheyfaced asaresultofallegationsofNERCâ&#x20AC;&#x2122;s bad management of the power sector,theregulatoryagencyhad vide a directive with reference No. NERC/MC &R/16/098 of March30,2016,directedtheCBN to escrow the accounts of Discos who cannot meet their monthly payment obligations under the vesting contracts and who are yet to place their LCs with NBET in accordance with the escrow directive.

NSCDC Busts Syndicate Specialising in Forging of JAMB Forms Vâ&#x20AC;&#x2122;â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Oâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; Ă&#x201C;Ă&#x2DC; Ă&#x17D;Ă&#x2122; Ă&#x2022;Ă&#x201C;Ă&#x17E;Ă&#x201C;

In confirmation of a total clampdown on cyberscammers in Ekiti State and Nigeria, the Nigeria Security and Civil Defence Corps (NSCDC) has arrested four suspected cyber-criminals, who specialised in the production of fake Joint Admis-

sion and Matriculation Board (JAMB) forms. The corps said the suspects were notorious in the printing, selling, manipulating and forging of JAMB registration forms, admission letter as well as changing JAMB registration numbers. The suspects, Fagade Tope M, 29, Akindun Adeniyi, M,

34, Ologunja Muyideen, M, 19 and Duduyemi Patrick, M, 35, were arrested in different locations in the state where they were plying their illegal trade and registering students for JAMB examination when the original registration form is yet to be on sale. Commenting on the arrest, the NSCDC Commandant

in Ekiti, Mr. Donatus Ikemefuna said: â&#x20AC;&#x153;the operations became possible as a result of operational synergy existing between the Corps and JAMB to monitor every operational activities of the examination body including provision of security coverage during JAMB examination in Nigeria.

As normalcy gradually returns to the southern part of Kaduna state, the state government has warned that anyone spreading false stories and images of attacks will be arrested and prosecuted. Jemaâ&#x20AC;&#x2122;a, Kaura and ZangonKataf local government areas of the state had been embroiled in crisis following frequent attacks oncommunitiesbyarmedFulani herdsmen. Hundreds of people havebeenkilledwhileproperties worthbillionsofnairahavebeen destroyed following the attacks. The federal government had December last year, deployed massive security personnel to the area to stop the killings. TheStateSecurityCouncil,after reviewingthesecuritysituationin thethreecouncilareasissuedthe warninginastatementyesterday. The statement, which was signed by Governor Nasir ElRufaiâ&#x20AC;&#x2122;s spokesman, Mr. Samuel Aruwan, disclosedthatsecurity agenciesdeployedtotheareahave takenactionsthatarepreventing attacksandstabilisingthesituation in the affected local government areas. â&#x20AC;&#x153;The council welcomes the efforts of the security agencies in thwartingattacksandhelpingto foster a growing sense of safety. However,thecouncilalsoreceived reportsofaspikeinfalsestoriesof attacksandkillings.Theseappear tailoredtopromotepanicwithin communities, create fear and provoke a spiral of reprisals and vengeance. â&#x20AC;&#x153;If any individual or community is attacked, the correct and lawful procedure is to report to traditional rulers and the police, who have the statutory duty to recordtheincident,investigateand ascertainitsveracityandtakesteps to establish the identity of victim andperpetrator,amongstothersâ&#x20AC;?, the statement said. Thestatementfurtherurgedthe peopletoâ&#x20AC;&#x153;rejectfictitiousreports andexaggerationwhichneedlessly complicatethesoberandserious efforts being exerted to advance peace and security.â&#x20AC;? Meanwhile, the leadership of non-indigenesresidentinKaduna state have decried the incessant clashes in the state in the past 30 years, saying this has retarded

development. AtapressconferenceinKaduna, the Igala, Igbo, Yoruba and Urohobo community leaders under theaegisofCommunityLeaders Forum,notedthattilldate,somany familieswereyettorecoverfrom the numerous ethno-religious crises that rocked the state. LeaderoftheIgalaCommunity, ChiefJosephDaikwawhospoke onbehalfofthegroup,expressed regret that the crises in the state overaperiodoftimehadledtothe closureofmanyindustrieswhile potential investors got scared of coming to invest. The group lamented the killings in the southern part of the state and urged the authorities to take adequate steps to end the bloodshed. â&#x20AC;&#x153;Weareworriedaboutthecrisis thathasledtolossofhumanlives andpropertyinSouthernKaduna. Historically, Kaduna state has witnessed several crises over thepast30years,andduringsuch incidents,manypeople,including Muslims,Christians,pagans,indigenesandnon-indigenesrecorded casualtiesâ&#x20AC;?, Daikwa said. Accordingtohim,â&#x20AC;&#x153;Uptilldate, many families are yet to recover fromthecrises.SadlyToday,many industrieshavecloseddownwhile manyexistinginvestorshaveleft thestateandpotentialonesrefused to come in due to the crises.â&#x20AC;? The community leaders noted that all over, the world, â&#x20AC;&#x153;no development can thrive in an atmosphere of chaos and crisisâ&#x20AC;? stressing that â&#x20AC;&#x153;the dream of Kaduna becoming one of the growing economies in Nigeria can only be realised when there ispeaceandsecurityinthestateâ&#x20AC;?. The group called on all aggrieved parties in the southern Kaduna crisis to sheath their swords and come together to resolve their differences. â&#x20AC;&#x153;We believe that as residents of Kaduna state, everybody is a potential victim whenever crisis occurs,hencewemustlearntolive together as brothers and sisters. While we commend both the Kaduna state government and the federal government for deploying security operatives to Southern Kaduna, we also call on government to ensure that justice and equity prevail in the present situation.

I B Uâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Vâ&#x20AC;&#x2122; Oâ&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122;â&#x20AC;&#x2122; Sâ&#x20AC;&#x2122;Câ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Râ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Jâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;

Ă&#x2019;Ă? Ă&#x;Ă&#x161;Ă&#x153;Ă?Ă&#x2014;Ă? Ă&#x2122;Ă&#x;Ă&#x153;Ă&#x17E; Ă&#x2019;Ă&#x2039;Ă? Ă&#x153;Ă?Ă?Ă?Ă&#x153;Ă Ă?Ă&#x17D; Ă&#x201D;Ă&#x;Ă&#x17D;Ă&#x2018;Ă&#x2014;Ă?Ă&#x2DC;Ă&#x17E; Ă?Ă&#x2122;Ă&#x153; Ă&#x161;Ă&#x153;Ă&#x201C;Ă&#x2013; ÍľË&#x153; Ă&#x201C;Ă&#x2DC; Ă&#x2039; Ă&#x161;Ă&#x153;Ă?Ě&#x2039;Ă?Ă&#x2013;Ă?Ă?Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă&#x161;Ă?Ă&#x17E;Ă&#x201C;Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă&#x152;Ă?Ă&#x17E;ĂĄĂ?Ă?Ă&#x2DC; Ă&#x2019;Ă&#x201C;Ă?Ă? Ă?Ă&#x2039;Ă&#x2018;Ă&#x2039;Ă&#x2DC; Ă?Ă&#x2122;Ă&#x2014;Ă&#x152;Ă&#x2039; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x153;Ë&#x203A; Ă&#x2013;Ă?Ă˘ Ă&#x17E;Ă&#x17E;Ă&#x201C; Ă&#x2122;Ă? Ë&#x203A; Ă&#x2019;Ă? Ă&#x2019;Ă?Ă&#x2039;Ă&#x153;Ă&#x201C;Ă&#x2DC;Ă&#x2018; ĂĄĂ&#x2039;Ă? Ă&#x161;Ă&#x153;Ă?Ă?Ă&#x201C;Ă&#x17D;Ă?Ă&#x17D; Ă&#x2122;Ă Ă?Ă&#x153; Ă&#x152;ĂŁ Ă&#x;Ă?Ă&#x17E;Ă&#x201C;Ă?Ă? Ă&#x2019;Ă&#x2122;Ă&#x17D;Ă?Ă? Ă&#x201C;Ă Ă&#x2122;Ă&#x;Ă&#x153;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă?Ă&#x2122;Ă&#x;Ă&#x153; Ă&#x2122;Ă&#x17E;Ă&#x2019;Ă?Ă&#x153; Ă&#x;Ă?Ă&#x17E;Ă&#x201C;Ă?Ă?Ă? Ă&#x2122;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? ÍŻÍśĂ&#x17E;Ă&#x2019; Ă&#x2122;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x;Ă&#x2039;Ă&#x153;ĂŁË&#x153; ĂĄĂ&#x201C;Ă&#x17E;Ă&#x2019; Ă?Ă&#x2122;Ă&#x;Ă&#x2DC;Ă?Ă?Ă&#x2013;Ă? Ă&#x17E;Ă&#x2122; Ă&#x161;Ă&#x2039;Ă&#x153;Ă&#x17E;Ă&#x201C;Ă?Ă? Ă&#x161;Ă&#x153;Ă?Ă?Ă?Ă&#x2DC;Ă&#x17E;Ë&#x203A;

ËŞĂ? Ă?Ă&#x2122;Ă&#x;Ă&#x2DC;Ă?Ă?Ă&#x2013; ĂĄĂ&#x2019;Ă&#x2122; Ă?Ă&#x201C;Ă&#x2013;Ă?Ă&#x17D; Ă&#x161;Ă&#x153;Ă&#x2122;Ă?Ă?Ă?Ă?Ă?Ă? Ă&#x201C;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă?Ă&#x;Ă&#x201C;Ă&#x17E; Ă?Ă&#x2122;Ă&#x153; Ă&#x17E;Ă&#x2019;Ă? Ă?Ă&#x201C;Ă&#x153;Ă?Ă&#x17E; Ă&#x17E;Ă&#x201C;Ă&#x2014;Ă? Ă&#x2039;Ă&#x2018;Ă&#x153;Ă?Ă?Ă&#x17D; ĂĄĂ&#x201C;Ă&#x17E;Ă&#x2019; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2039;Ă&#x161;Ă&#x161;Ă?Ă&#x2013;Ă&#x2013;Ă&#x2039;Ă&#x2DC;Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă? Ă&#x17E;Ă&#x153;Ă&#x201C;Ă&#x2039;Ă&#x2013; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x2013;Ă&#x2122;ĂĄĂ?Ă&#x153; Ă?Ă&#x2122;Ă&#x;Ă&#x153;Ă&#x17E;Ă? Ă&#x2019;Ă&#x2039;Ă Ă? Ă&#x201D;Ă&#x;Ă&#x153;Ă&#x201C;Ă?Ă&#x17D;Ă&#x201C;Ă?Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă&#x17E;Ă&#x2122; Ă?Ă&#x2DC;Ă&#x17E;Ă?Ă&#x153;Ă&#x17E;Ă&#x2039;Ă&#x201C;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă&#x161;Ă?Ă&#x17E;Ă&#x201C;Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ë&#x203A; Ă&#x2013;Ă?Ă&#x2122; Ă&#x2122;Ă&#x2DC; Ă&#x153;Ă&#x201C;Ă&#x17D;Ă&#x2039;ĂŁË&#x153; Ă&#x17E;Ă&#x2019;Ă? Ă&#x;Ă&#x161;Ă&#x153;Ă?Ă&#x2014;Ă? Ă&#x2122;Ă&#x;Ă&#x153;Ă&#x17E; Ă&#x2018;Ă&#x153;Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ă?Ă&#x17D; Ă&#x2013;Ă?Ă&#x2039;Ă Ă? Ă&#x17E;Ă&#x2122; Ă&#x2013;Ă?Ă˘ Ă&#x17E;Ă&#x17E;Ă&#x201C; Ă&#x17E;Ă&#x2122; Ă&#x152;Ă? Ă&#x201D;Ă&#x2122;Ă&#x201C;Ă&#x2DC;Ă?Ă&#x17D; Ă&#x2039;Ă? Ă&#x2039;Ă&#x2DC; Ă&#x201C;Ă&#x2DC;Ă&#x17E;Ă?Ă&#x153;Ă?Ă?Ă&#x17E;Ă?Ă&#x17D; Ă&#x161;Ă&#x2039;Ă&#x153;Ă&#x17E;ĂŁ Ă&#x17E;Ă&#x2122; Ă?Ă&#x2019;Ă&#x2039;Ă&#x2013;Ă&#x2013;Ă?Ă&#x2DC;Ă&#x2018;Ă? Ă&#x17E;Ă&#x2019;Ă? Ă?Ă&#x2013;Ă?Ă?Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă&#x2122;Ă? Ă&#x2122;Ă Ă?Ă&#x153;Ă&#x2DC;Ă&#x2122;Ă&#x153; Ă&#x2022;Ă?Ă¤Ă&#x201C;Ă? Ă&#x2022;Ă&#x161;Ă?Ă&#x2039;Ă¤Ă&#x; Ă&#x2039;Ă? Ă&#x2018;Ă&#x2122;Ă Ă?Ă&#x153;Ă&#x2DC;Ă&#x2122;Ă&#x153; Ă&#x2122;Ă? Ă&#x152;Ă&#x201C;Ă&#x2039;Ë&#x203A; Ă&#x;Ă?Ă&#x17E;Ă&#x201C;Ă?Ă? Ă&#x2013;Ă&#x2039;Ă&#x153;Ă&#x2039; Ă&#x2018;Ă&#x;Ă&#x2DC;Ă&#x152;Ă&#x201C;ĂŁĂ&#x201C; Ă&#x2013;Ă?Ă&#x17D; Ă?Ă&#x2122;Ă&#x;Ă&#x153; Ă&#x2122;Ă&#x17E;Ă&#x2019;Ă?Ă&#x153; Ă&#x201D;Ă&#x;Ă?Ă&#x17E;Ă&#x201C;Ă?Ă?Ă? Ă&#x17E;Ă&#x2122; Ă&#x2039;Ă&#x153;Ă&#x153;Ă&#x201C;Ă Ă? Ă&#x2039;Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă? Ă&#x;Ă&#x2DC;Ă&#x2039;Ă&#x2DC;Ă&#x201C;Ă&#x2014;Ă&#x2122;Ă&#x;Ă? Ă&#x17D;Ă?Ă?Ă&#x201C;Ă?Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ë&#x203A;

RETRACTION Our attention has been drawn to a publication in our April 7 and 14, 2016 editions with the title â&#x20AC;&#x153;Re: Final Notice: Emerald Energy Resources Ltd Operator - OML 141 on behalf of Joint Interest Owners-Indebtedness of $45,730,697.57 (Forty-ďŹ ve million, seven hundred and thirty thousand, six hundred and ninety-seven dollars, ďŹ fty-seven cents) owed China Export & Credit Insurance Corporation (Sinosure).â&#x20AC;? We hereby retract the publication. - Editor

T H I S D AY, T H E S U N D AY N E W S PA P E R Ëž ÍşÎ Ë&#x153; ÍşÍ¸ÍšÍż

SUNDAYNEWS PDP Moves to Halt Poaching of Key Members t As Okorocha relinquishes headship of Sâ&#x20AC;&#x2122;East APC to Nnamani O E in Abuja and A U in Owerri

Worried by the spate of defections that has hit it recently, the leadership of the opposition party, Peoples Democratic Party (PDP) has taken measures aimed at gingering support for the party across the country. The move by the PDP is coming despite a pending judgment at the Court of Appeal, Port Harcourt in Rivers state which is expected to resolve to a large extent the lingering leadership dispute in the opposition party. Despite not knowing which side the pendulum will swing, the leadership of the National Caretaker Committee led by Senator Ahmed Makarfi, last week spoke of plans to hold the meeting of its national caucus in states controlled by the party on a rotational basis. The choice of Bayelsa state for the re-launching of the embattled opposition party may have been due to the fact the former President, Goodluck Jonathan is from the place and that his profile seemed to be on the rise especially with the recent reception he received from former President Olusegun Obasanjo during his visit to Ogun State. The party is apparently hoping to utilise the resurgent goodwill of the former president to woo back the Nigerian elector-

ate and to seek the understanding of others especially most of its former members not to jump ship or leave the party. Within the last one month, the embattled PDP has lost key members to the ruling All Progressives Congress (APC) in what is seen as the aftermath of months of intractable leadership crisis which has pitched the former national chairman, Senator Ali Modu Sheriff against the Makarfi-led national caretaker committee in a long-drawn legal battle. Among some of the leading former members of the PDP who defected to the APC, were the Governor of old Anambra state, Chief Jim Nwobodo; former Senate President, Ken Nnamani; former Abia state Governor, Orji Uzor-Kalu and a serving senator from Akwa Ibom state who cross-carpeted to the APC. While addressing journalists shortly after the expanded national caucus meeting of the party Thursday in Abuja, the Spokesman of the PDP, Dayo Adeyeye said the governors elected on the platform of the party had agreed to be hosting a stakeholders meeting of the party on a rotational basis as part of efforts galvanise support for the party ahead of the 2019 general election. To kick-start the meeting

which many see as a way of mobilising members and stopping the APC from poaching from it, PDP has picked Bayelsa state as its first port of call. Adeyeye said PDP governors have resolved to hold monthly meetings to strengthen the party, adding that Bayelsa state governor, Seriake Dickson has accepted to be the first to host the caucus meeting. On the reason for the low turn-out of party governors at the function, he said: â&#x20AC;&#x153;We donâ&#x20AC;&#x2122;t have problems with our governors; they are all strongly behind the move to rebuild the party.â&#x20AC;? In the same vein, former governor of Akwa Ibom and the Senate Minority Leader, Godswill Akpabio used the opportunity of the recent stakeholdersâ&#x20AC;&#x2122; meeting to draw the attention of the leadership of the PDP on the need to make haste to resolve the crisis in the party. Akpabio said: â&#x20AC;&#x153;There is need to ensure that platform of the party is safe for those who want to contest election. Right now some senators in Anambra are worried that primaries are supposed to start by March. This is just to bring it to the notice of the national caretaker committee so that they can do something about it. â&#x20AC;&#x153;I need to say here that not every rumour you hear you believe. If you say that we lost senators through defections,

there are also some others who joined our party like in Nasarawa through election and the court. Our number in the Senate is still very significant. The PDP senators are intact and very supportive of the party; they are also giving financial support to the party. We are stakeholders and we believe we should support the caretaker committee. It is the sacrifice we have to make in order to keep this party going. â&#x20AC;&#x153;There is no election that will be conducted in the former PDP 28 states that the party will not win. That is a matter of fact. As I speak so many senators from the opposing party are eager to join PDP. All they want is return of peace to the party, once that is done I can assure that 20 senators are on their way to joining the PDP. Message to those who are thinking of defection is to retrace their steps because PDP is bounce back to victory in 2009?â&#x20AC;? he said. Meanwhile, PDP has hailed the Governor of Bayelsa, Hon. Henry Seriake Dickson on his 51 years birthday. In a statement issued yesterday, the Spokesman of PDP described him as a â&#x20AC;&#x153;man of the people, whose strength, courage and success have touched many lives nationally and in particular, the people of his State as a police officer, lawyer, legislator and Governor.â&#x20AC;? (See concluding part online.)

Assemblies of God Denies Knowledge of Missing N2.7bn Ministersâ&#x20AC;&#x2122; Pension Funds C I in Enugu

The Assemblies of God Church, Nigeria in Enugu has dismissed as false and mischievous media reports linking its leaders to the alleged disappearance of N2.7 billion pension funds belonging to retired pastors of the church. The Church, which is presently struggling with leadership crisis, also denied the purported invitation of some of its officers by the Inspector General of Police (IGP) on January 24, 2017. Some newspapers (not THISDAY) had reported that the IGP invited the Churchâ&#x20AC;&#x2122;s General Superintendent, Rev Dr. Chidi Okoroafor, Rev Vincent Alaje and Tony Ewelike, over a petition by one Mr. C. N. Idris, wherein the church leaders were accused by 2,000 pastors of embezzling the pension fund. But in a press statement by its General Secretary, Rev. Godwin Amaowoh, the church said the publication was a design by some unnamed elements to divert attention from â&#x20AC;&#x153;the atrocities they committed while they held sway in the church.â&#x20AC;? Amaowoh said the contents of the said petition as published in the media â&#x20AC;&#x153;are lies from the pit of hell, merely intended to

distract the Church. We had wanted to ignore this report but following the insistence of some of our members that these liars should be exposed to stop them from further deceiving the innocent public, we have now deemed it fit to make these clarifications. â&#x20AC;&#x153;May we make it bold that we do not have a pension scheme in the Assemblies of God Church as we never in the first instance employed any minister, Assemblies of God only operates what we call Assemblies of God Ministers Benefit Scheme. â&#x20AC;&#x153;Every minister with the Assemblies of God Church is on voluntary service. Therefore, we have no such thing as pension fund; rather we operate a welfare scheme for our ministers. â&#x20AC;&#x153;All the ministers involved signed contracts in that regard in accordance with the provisions of the Constitution of the Church. We follow the provisions of that constitution strictly. â&#x20AC;&#x153;It is also apt to make it clear to the members of the public that we do not know about 2,000 ministers. Our constitution provides that those who are under discipline are not entitled to the welfare scheme, until after certain years depending on the level of discipline.

Í°ÍˇË&#x153; Í°ÍŽÍŻÍľ Ëž THISDAY1THE SUNDAY NEWSPAPER

OPINION Between Insecticides and Deodorants O A P B â&#x20AC;&#x2122; ft

midst the current regime of gloom and despair, President Muhammadu Buhari shocked a wide spectrum of Nigerians, when in a last effort to save one of his own, he wrote to the Nigerian Senate clearing the Secretary to the Government of the Federation (SGF), Mr.Babachir Lawal of the allegations of corruption leveled against him. After weeks of waiting, guessing and body language assessments, the president finally showed in a letter, saying, that he had found no skeleton in the cupboard of Mr. Babachir Lawal. In a move reminiscent of the tricks and fine-art of the old brigade of the Nigerian political class, the president to the chagrin of all, pointedly dodged the major question in what is perhaps the biggest scandal that has confronted his government â&#x20AC;&#x201C; the question of whether Mr. Lawal abused his office by moving government money through a phoney company in which he has a vested interest, choosing rather to grab the lame excuse of the senate report being a minority report. Swiftly, in a furious and tempestous response, the senate through the Shehu Sani Senate Committee on the Presidential Initiative on the North-East (PINE), reacted by taking the Presidency to the cleaners, making a mockery of its corruption fight by drawing an allusion between the â&#x20AC;&#x153;insecticideâ&#x20AC;? used in fighting supposed corruption outside the Presidency, and the â&#x20AC;&#x153;deodorantâ&#x20AC;? used in privileging justice to the presidentâ&#x20AC;&#x2122;s men. With particular venom, the civil rights activist turned senator, concluded by calling the Babachir clearance letter, the final funeral rites of the anti-corruption war of the Buhari government. One must salute Shehu Sani for his bravery and consistency. However, what of the many things left unsaid by Sani? Can the Buhari government boldly beat its chest, and say that it has been fighting corruption since it assumed office? Can the government convince any right thinking Nigerian that there was ever any anti-corruption war that has now been murdered by the Babachir Lawalâ&#x20AC;&#x2122;s grass-cutting scandal? The many contradictions in the Nigerian state today will remain as long as men deficit in character and integrity and totally lacking in leadership recruitment, continue to hold the reins of power. For more than 56 years, Nigeria has remained in a state of immobility and decay, simply because conscienceless men, cruel characters, and unforgiving merchants of power, cart away the patrimony of all, to buy hundreds of exotic houses that they may never

live in; to purchase bullet-proof automobiles simply for the pleasure of conveying their wives and concubines to the hairdresser; and to acquire eye-popping private jets, all in a bid to escape from kilometres of bad roads, and fly over the millions of poor people living below. For that same period of time, as her ungodly leaders live in mindless opulence, the country is consistently fed fat with propaganda, while government â&#x20AC;&#x201C; in and out -continually whip up the peoplesâ&#x20AC;&#x2122; excitement and emotions with dazzling and psychedelic photo-shopped slides of on-going superhighways, bullet trains, underground tunnels, 24 hours electricity, glittering skyscrapers, and hundreds of other sensational projects that never leave the projector screen. Sadly, dishearteningly and most disgustingly, the current government is not different. For a government under whose nose monies that were to be used for internally displaced persons (IDPs) can be stolen, that must be the lowest we have gone. The current government missed its way from the outset, setting out with no clear road maps, engaging in the corruption called nepotism by unashamedly appointing family members into critical positions in government, and merging same with the motley crowd of greedy businessmen who are always around the corridors of power; such as a political contractor masquerading as senior government official and a coterie of

The day this government acknowledges that one of its own is corrupt and removes that person from ofďŹ ce, that day the entire government collapses like a pack of cards

other individuals who have perfected their skills in manipulating the levers of powers. The government began to go the wrong way when upon assuming power it simply continued from where the Peoples Democratic Party stopped, treating political power as a national bazaar, leaving serious national issues to the superintendence of clueless group. It is therefore no surprise that in a staggering two years, no new laws have been made, no far-reaching reform is in the offing, and no meaningful policy direction has been crafted; rather all the people get is the silence of the graveyard from an absentee president. And to add salt to injury, the same men who claim to be spartan and pious, who go after others recovering supposed â&#x20AC;&#x153;looted fundsâ&#x20AC;?, are themselves caught dipping their hands in the cookie jar. It is without gainsaying that the current government has never fought corruption, can never fight corruption and will never fight corruption. Why? The government itself is a product of corruption; created, glued together and packaged by stolen funds from men who under very heavy body odour of corruption, fled the wilderness of the former PDP, to arrange the caricature called All Progressives Congress. Thus, from the day the president was sworn in, it was evident that for him to even think of fighting corruption, would amount to nothing but political suicide. Not one, not two, not three of the presidentâ&#x20AC;&#x2122;s boys today have various allegations of corruption hanging over them, yet not one has been handed over to the Economic and Financial Crimes Commission for prosecution. From Burataigate to Babachirgate, the list is long. Can it therefore be said that the anti-corruption war is dead, when in fact it never lived? Apparently, the president is under a very heavy burden and an incarceration in morbid apprehension, which of course renders him incapacitated. What is that apprehension? The day this government acknowledges that one of its own is corrupt and removes that person from office, that day the entire government collapses like a pack of cards. In the last two years, the government having gradually lost the confidence of the people has precariously held on to its only lifeline â&#x20AC;&#x201C; the supposed integrity of the president. That lifeline itself has been greatly decimated by the quiet pilferage by the termites and carpetbaggers who have become the cabal in the presidency, so much so that the president is now a man on his own. â&#x20AC;&#x201C;â&#x20AC;&#x201C;Adegbite is a Lecturer in the Faculty of Law, Obafemi Awolowo University, Ile-Ife

The Change We Didnâ&#x20AC;&#x2122;t Need T A K

he world had barely settled down to the reality of Brexit when Donald Trump trounced Hillary Clinton to clinch victory in an election that would eventually shame the power of opinion polls. Trump purportedly played a fast one on unsuspecting Americans and the world was left to grapple with â&#x20AC;&#x2DC;Trump Traumaâ&#x20AC;&#x2122;. A few weeks after, Fidel Castro was done with the wildness of this world and the world, with the exception of those who felt threatened by his Marxist-Leninist disposition, mourned the passing of a great humanist. Along the line, Yahya Jammeh happened to our democratic psyche and that tragically revived memories of sit-tightism that has all along been the bane of our Africanness. Elsewhere in Europe, Italy stunned the world with a referendum which, though looked and sounded marginal in shape and size, has, in all the important ways, changed the face of global politics. And, uninterested in being uncounted, Nigeria continues to grapple with recession even as economic juggernauts catwalk excuses! Indeed, the global village is in a mess and all eyes can see it! Nations are waging wars against nations! Sicknesses and diseases are defying medical prescriptions! Conflicts, endless droughts, hunger and deprivations are separating us from our journey and it is as if signs of the end times are already staring us in the face. With a special attention on Nigeria, that our dear country is experiencing a siege revolution is no longer news! Willingly or by happenstance, the town is tough while the glory of the gown is tormented. In addition to the global uncertainty which has shaken Nigeria to her

foundational relevance, politics, not policy, threatens her existence and it is as if godly minds have eloped with their prudent counsels. Like a steeringless vehicle, inflation has gone to an unbearable level and it is as if those witches and wizards of the military-era Nigeria are back at work! To make matters worse, Africaâ&#x20AC;&#x2122;s foremost giant and worldâ&#x20AC;&#x2122;s 10th biggest oil reserves, now contend with more than 60 per cent of her people living on less than $1 a day. In 2016, unemployment rose from 12.1 per cent in the first quarter to 13.3 per cent in the second quarter. It is still rising! Truth be told, events of the last few months have again compelled bewildered Nigerians to debate the particular nature of the â&#x20AC;&#x2DC;changeâ&#x20AC;&#x2122; they voted for! Of considerable worry is their inability to discern whether or not the events of March 28, 2015 were destined to take Nigeria to her Promised Land or Muhammadu Buhari was merely ordained to act Nigeriaâ&#x20AC;&#x2122;s Moses. For Godâ&#x20AC;&#x2122;s sake, why has a bag of rice, which sold for N7,500 in December 2015 is now sold for N25,000? How come less than 500 people are sitting on not less than 20% of Nigeriaâ&#x20AC;&#x2122;s 2017 budget, all in the name of constituency and other meaningless projects? Widening the scope of our worries, why has Cuba, in spite of her travails, become a socio-economic success while Nigeria, despite its touted giantness, continues to look Northwards, not inwards, for succour? All said, will Nigeria get out of this miasma unbowed and where lies the road to comfort? An Igbo proverb says: â&#x20AC;&#x153;You donâ&#x20AC;&#x2122;t need a mirror to see what you are wearing on your handâ&#x20AC;?. The times are quite unusual. But Nigerians must have to work

together for their teeth to chew the meat! Bola Tinubu struck the right chord when he urged the government to â&#x20AC;&#x153;re-engineer the economy bottom up, diversify the economic base, strengthen our industrial base, modernise infrastructure, enhance agriculture, and provide employment and of course, ease of doing business.â&#x20AC;? It is interesting to note that Buhari has been there before. Therefore, that he knows what to do to navigate the country out of the economic turbulence is not in doubt. But he has to act fast. The earlier he does this, the better for the ruling party. Assuming without conceding that government at the centre is currently moving beyond sharing our pains to making genuine efforts at restoring Nigeriaâ&#x20AC;&#x2122;s political and economic credibility, keying into Osun Stateâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC;government unusualâ&#x20AC;&#x2122; which has made the business of governing and growing the state an exciting experience will not be out of place. With its adoption of some of the stateâ&#x20AC;&#x2122;s initiatives like the school feeding, elderly welfare and youth empowerment schemes, Nigerians will agree that the federal government is on the right track. But, more still needs to be done, especially, in the area of massive infrastructure development, if it must timeously deliver on the promised dividends of democracy to the citizenry. The president must come to terms, not only with the details and the intricacies of â&#x20AC;&#x2DC;cashâ&#x20AC;&#x2122; in the peopleâ&#x20AC;&#x2122;s â&#x20AC;&#x153;pockets and food in their bellyâ&#x20AC;? but also the basics of the â&#x20AC;&#x153;promises of a brighter future.â&#x20AC;? After all, a naked man does not put his hands in his pocket. â&#x20AC;&#x201C;â&#x20AC;&#x201C;Komolafe wrote from Ijebu-Jesa, Osun State

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

LETTERS The Vicious Murder of A LASTMA Official

ungarianAmerican newspaper publisher, Joseph Pulitzer once said: “There is not a crime, there is not a dodge, there is not a trick, there is not a swindle, and there is not a vice which does not live by secrecy.” In Lagos, on December 15, 2016, criminality was taken to a shocking dimension when a Lagos State Traffic Management Authority (LASTMA) official in charge of Apapa area, Mr. Olatunji Suraju Bakare was killed in broad daylight. The chief traffic manager was gruesomely murdered by irate mob. The cruel mob undressed and dropped the late officer inside the drain before lynching him. It was so pathetic how such gory incidence could happen in the open while all onlookers could do was to record and upload the brutal event on the social media. It is, indeed, gratifying and soothing to finally hear the news of the arrest of two of the perpetrators and alleged coordinators of the senseless killing. This is coming on the heels of public displeasure that nothing seems to be done on the part of government as there was no news of any arrest or punitive action since the gory occurrence, as it is typically the case.

expedient for government to approach the issue with caution. That anyone could be killed in such a barbaric and brutal manner as the hapless LASTMA man is an indication of the state of total disregard for law and order in our society. Any society that thrives on such gross disregard for orderliness could not attain much growth and development. It should be stressed that the current government in the state has enormous respect for the rule of law. It, therefore expects every resident of the state to do same. The eventual arrest of the two suspects of the LASTMA official brutal assassination will eventually lead to the capture

way to go and it is in compliance with contemporary security strategy as it helps to prevent jeopardising evidence. Naturally, that nothing happened, at least to the knowledge of the public for days and weeks after the killing, gave the culprits the audacity and self-belief to stick around, with the false aura of security, thus making the job easier for security operatives. Additionally, the fact that some disregarded the rule of law by taking the law into their hands makes it more

“I

f it were left on me to decide whether we should have a government without newspapers or newspapers without a government, I should not hesitate a moment to prefer the latter.” The preceding quotation is from a former President of the United States, Thomas Jefferson, and it underscores the importance of the media in a democracy. As the lifeline of any nation, the media provides not only information on what may affect us daily, but also keeps

PRESIDENT BUHARI’S RESCUE MISSION

resident Muhammadu Buhari is such a lucky president who came at the time of need. Though he had seen; he is attempting to conquer. He has come on a rescue mission. But not lucky in the Nigerian context because no contemporary Nigerian leader has suffered the humiliation and betrayal he underwent in his quest to lead and cleanse the country. He is really dealing “boldly and wonderfully” with Nigerians as the need arises. In such wise, many are happy while some are unhappy. It is natural. And history has records of how enemies sprout up against good men in societies where massive corruption, injustice, iniquity, lawlessness, free wealth, hooliganism and faithlessness held sway. Nigeria had been under the spell of a cabal in the government. This cabal has been fighting to undermine the plans of Mr. President who has planned to break the deadly group. It has not been easy but he is dealing with the situation. And positive results are palpable. Let us examine some of his pragmatic methodology in dealing with Nigerians as a people who had proved difficult to govern in the past. There are over a 1001 ways the president has positively dealt with Nigerians, though some people are born destructive critics. The order of placements here is insignificant. Undoubtedly, there are great challenges facing the nation. His victory in the last

presidential polls: This topic, obsolete as it may look, is still very relevant in the discussion about modern Nigeria democratic evolution. The spirit of patriotism in him made him not to lose hope in his determination to change the wrongs of the past leaders and place Nigeria on the course of development. It is patriotic to be persistent for a good cause. Many Nigerians know that he won the previous presidential elections before that of 2015, though he was denied by the wall of corruption. A man who wept profusely for betrayal by his compatriots would have opted out of contest for the fourth time. He set aside all the harrowing moments for 12 years and here he is doing all what is possible to revive our fatherland. Foreign trips: Criticisms have overtaken rationality in many citizens who claim that the foreign trips of the president are wasteful. But sound minds have comprehended the duo of security and economic reasons as the paramount motive for the trips. There can be no compromise to the security of this land. Nigeria was on the brink of disintegration as a result of a calculated attempt to use Boko Haram from the Northeast. It still baffles observers the capture of white men and foreigners in the Sambisa Forest which was the stronghold of the terrorists. There were reports of captured foreign war helicopters alleged to have been supplying weapons to

to the level of lawlessness and the awry dimension it took. It was quite unfortunate that some of the witnesses that took the recording of the video that went viral on the internet claimed to have done so in the bid to ensure that the faces of the perpetrators were captured on camera but they did not make any attempt to stop the killing. Society must be proactive and not impassive or unaffected when a wrong is being done; we must be responsive and alive to our responsibilities for the protection and security of lives and property. ––Temilade Aruya, Lagos State Ministry of Information and Strategy, Alausa, Lagos

DONALD TRUMP AND THE MEDIA

To many who felt government did not swing into action by sealing off the attack scene and embarking on mass arrest of suspects in the customary police commando style, the fact is that this approach does not always bring about the right result as many innocent chaps are often arrested and detained. In most cases, such method often ends up providing food for corrupt uniform men who indulge in all manner of atrocities. Discrete investigation and intelligence gathering is the

of the remaining perpetrators of the December 15 killing. This, indeed, is a pointer to the fact that the Lagos State Government believes in the instrumentality of the law to deal with criminality. This will send a signal to unscrupulous elements and law breakers that no matter how long it takes the strong arm of the law will always catch up with them. However, to prevent a re-occurrence of such horrific incident, all stakeholders and every law abiding residents must work together with the government and security agencies in the state. Situations like the one that happened on December 15 last year must not be allowed to degenerate

the Boko Haram group in the forest that resisted defeat for long time. Just like the way the Niger Delta militancy began and gradually stabilised due to arms dealings, the Boko Haram could not have had factories to produce the arms it required to fight or the money it needed to recruit members. There must have been illegal arms dealings. In the nutshell, the president had to go to all the countries that could help in defeating the terrorists. And for sure, no amount of money spent on such mission to save Nigeria can be termed to be much. Additionally, results from the trips are manifesting. Boko Haram has been chased out of its stronghold and many countries where looted funds from the nation’s treasury were hidden are returning or ready to repatriate the funds to Nigeria. Recently, the Chinese foreign minister, Wang Yi said China was investing $40 billion as part of the plan to deepen relationship with Nigeria, in addition to $22 billion projects already invested. Defeat of Boko Haram and restoration of Nigerian military dignity: Boko Haram has been defeated, not merely degraded as before. The remnants of the terrorists are running for their lives from one city to the other, still trying to call attention through suicide attempts. By this victory, the dignity of the Nigerian military has been restored. Our gallant military personnel have proved their worth in the world. They have

been going to keep peace in other countries. Why was ours not possible? The right president is now with them and with all Nigerians. May the souls of our murdered heroic soldiers rest in perfect peace, amen. I personally hail the Nigerian military for this great achievement for our dear nation. We must all celebrate with and pray for them. Removal of fuel subsidy: Fuel subsidy was an empire for corrupt importers who fleeced the country of trillions of naira. It became clear that most of the acclaimed importers were mere political office holders dealing through proxy. Funny enough, each time removal of fuel subsidy was raised the beneficiaries made it look as if Nigerian would suffer untold hardship from that. It was a sacred pole that touching it was a taboo. Before taking over the leadership, President Buhari severally described it as a fraud. He has boldly removed it, though it is not clear if all those subsidy fraudsters have paid back their loot. Since the subsidy removal and adjustment of the fuel price to N145 per liter, there has been steady availability of the commodity. However, prices of local commodities and foreign imports are affected. Nigerians are not finding life easy but there is hope of reviewing the minimum wage of N18,000 (about 40 US dollars per month). ––Muhammad Ajah, Abuja.

us informed of developments around him. The reach of the media and the effect that it can have on the general public makes it the fulcrum of development in the world. Over the years, autocrats, tyrants and despots in various parts of the world, have tried very hard to silence the media for obvious reasons. In some cases, scores of journalists have been killed, maimed, jailed and dehumanised by despots whose main goal was to stifle the media. Societies with massive history of gross disrespect for democratic institutions and principles are often most guilty of spiteful anti-media tendencies. Such abounds in quantum in Africa, Asia and, to a large extent, some nations in Eastern Europe, especially during the cold war era. Ironically, however, what is currently playing out in the United States of America, the supposed leading light and self-proclaimed global guardian of democratic tenets, is quite curious. President Donald Trump, without a doubt, cuts the image of one who is going to give his country’s media a raw deal. Never in the history of the country has a leader exhibited such overt disdain for the media. To keen observes of unfolding events in the country, President Trump is on a retributive mission against the American media. They are certain that the president is out to get his pound of flesh on the media over what he considered ‘bias media coverage’ in the last presidential election which he won. And the way the president is going about the business is not shrouded in secrecy. Unlike the conventional political leader who will openly court the media but surreptitiously ‘kill’ them behind the scene, Mr. Trump is explicitly mouthing his disgust for the media, and at every given opportunity. A few days to his inauguration, the maverick business enigma cum politician, held a press conference in which he took his disdain for a section of the American media to a rather ridiculous height. On that occasion, Mr. Trump refused to allow questions from reporters of certain media platforms which he referred to as ‘fake media’. It was so awful that one would think it was a tyrant back

in the ancient days that was holding court. Sadly, some of his supporters, who were present at the event, cheered him on while at the same time they jeered profusely at the hapless reporters from the allegedly ‘fake’ media houses. That was barely a week before Mr. Trump’s inauguration. About two days after his inauguration, while addressing members of the United States’ intelligent community at the CIA headquarters, Mr. Trump similarly lashed out at the media in a most un-presidential manner. He declared: “I have a running war with the media. They are among the most dishonest human beings on Earth….” Ironically, Mr. Trump who is extensively reputed for making largely unproven claims alleged that he dislikes the media because he loves honesty and thus prefers “honest reporting.” As it is often the case in action packed season movies, the presidential media lampoon did not end with the tirades at the CIA headquarters. A few hours after the event, Mr. Trump’s chief media aide, Sean Spicer, with the audacity of a Nazi war time media manager, hurriedly assembled the White House press corps into the James S. Brady briefing room, which his principal had earlier threatened to close, and tutored them on accountability. He said: “There’s been a lot of talk in the media about the responsibility to hold Donald Trump accountable. And I’m here to tell you that it goes two ways. We’re going to hold the press accountable, as well.” Within the few days of his presidency, it is so glaring that Mr. Trump is metaphorically poised for war on many fronts. He is at war with the American political establishment. He is at war with a ‘fraudulent voting’ order in his country. Outside America, the European Union doesn’t seem to catch his fancy; same for NATO. As for Mexico, that country had better started figuring out how it will finance the great wall that Trump is bent on building along the two nations’ border. German leader, Angela Merkel, is equally not likely to have it easy with the Trump presidency. –– Tayo Ogunbiyi, Alausa, Lagos

THISDAY THE SUNDAY NEWSPAPER Ëž Í°ÍˇË&#x153; Í°ÍŽÍŻÍľ

INTERNATIONAL Donald Trumpâ&#x20AC;&#x2122;s Anti-Mexico Wall and Anthony Asiwajuâ&#x20AC;&#x2122;s African Border Boom Town: What Choice?

onald Trump is the current president of the United States. Anthony Asiwaju is Professor Emeritus of History in the University of Lagos and pioneer Commissioner for International Boundaries at the National Boundary Commission, Abuja. While Asiwaju is essentially an academic, Donald Trump was an astute with businessman before his election on November 8, 2016 and inauguration as 45th US President on January 20, 2017. The two of them are Christianly. President Donald Trump is a white man with a pure white T manâ&#x20AC;&#x2122;s and republican mentality: proponent of traditional e-mail: bolyttag@yahoo.com values, socially conservative (strong opposition to abortion and same-sex marriage on the basis of Judeo-Christian ethics, strong national defense, American conservatism, free market capitalism, free enterprise, fiscal conservatism, deregulation, restrictions on labour unions, etc. Professor Anthony Asiwaju is a black man with neither the mentality of the white man nor that of a black man. His mentality is simply that of the academician who is interested in objectivity of purpose and scientificity of arguments. He is reputed to be the leading Comparative Historian and Borderlands Scholar. Put differently, Trump sees life from the business entrepreneurial perspective while Asiwaju underscores scholarship in his attitudinal disposition. On other societal issues, they also have different perspectives. The critical issue of land border is a case in point. Donald Trump wants to use the issue of United States border with Mexico to address the irritants in their bilateral relationship and particularly how to grow and further develop the economy of the United States in fulfilment of his electoral campaigns. In this regard, Trump wants to build a new Wall of Jericho, generally referred to as â&#x20AC;&#x2DC;Donald Trump Wall,â&#x20AC;&#x2122; to provide a concrete demarcation between the two countries, and, by so doing, prevent the inflow of illegal Mexican immigrants into the United States. According to the United States Geological Survey (USGS), excluding Alaska, the international boundary line of United States-Canada border is about 3,987 miles while the United States-Mexico border is about 1,933.4 miles, of which Texas has the lion share of 1,241 miles, Arizona has 372.5 miles (including 19.1 miles along the Colorado River), New Mexico has 179.5 miles, and California has 140.4 miles. Even though the National Oceanic and Atmospheric Administration (NOAA) says â&#x20AC;&#x2DC;the Canadian and Mexican international borders are less problematic than the coastline measures because there are long stretches that T are straight, such as the nearly 900-mile section of the US-Canada border along the 49th parallel,â&#x20AC;&#x2122; there is no disputing the fact that congressional approvals for funding. Donald Trump sees many problems with the US-Mexican borWhat is important to note about Donald Trumpâ&#x20AC;&#x2122;s Wall is that der. It is because of the perceived problems that he has decided to it is a wall, a border that divides, that separates. It is a border that build a wall as a border against foreign intrusion. is not helpful to regional integration. It is a border of hostility that The wall is to be 40 feet tall, with 7 feet concrete foundation to has the potential to encourage underground economic activities. serve as an antidote to eventual tunnelling, and 10 inches thick. It is also a wall designed to control illegal immigrants. At best, it The wall will cover a distance of 1000 miles. In terms of costs of cannot but be inimical to good neighbourliness, not because of construction, it is estimated to cost between $15 billion and $25 the purposes of the construction but because of the environmenbillion based on current prices. The concrete foundation laying tal conditionings of the policy decision, and particularly because alone is to cost $700 million and all budgeted costs are expected the United States and Mexico are both neighbours by territorial to be paid for by the Mexicans, that is, the United States will build, contiguity and political propinquity. Mexico will pay for it from the calculations of Donald Trump. Without doubt, no country condones illegal immigration and In this regard, Donald Trump wants to impose a 20% tax on all no one should condemn Donald Trump for seeking to make imports from Mexico to the United States. the world of Americans secure. However, the mania of doing it, Without iota of doubt, the Mexicans are not much concerned the sloganeering of it, the braggadocio or arrogance with which about payment of any costs. Donald Trump has signed an it is presented and done, in fact, the demeaning of the people executive order authorising the commencement of the construc- of Mexico by saying the wall would be built and the Mexicans tion of the wall, regardless of the required internal processes of would be made to pay for it through possibly deductions from remittances by Mexicans in the US to their relations back home or imposition of tariffs to the tune of 20%, is unnecessarily quite provocative. Whatever is the case, the essential point is that Donald Trump, either as estate manager or as US president, is on record to have been building walls that divide. He has been allocating houses on discriminatory basis. The walls he has been building have also been discriminating. Consequently, there should not be any big issue about the new Donald Trump Wall in the making. On the contrary, the borders of Professor Anthony Asiwaju are philosophically different. His own borders unite. His own walls integrate, they serve as instruments of national and regional development. It is within this context that his latest book, African Border BoomTown: Imeko Since c. 1870 was written. Imeko is one of Nigeriaâ&#x20AC;&#x2122;s border towns, with 168 Compounds and four Quarters, located in the south-western part of Nigeria in Ogun State. Imeko is the world headquarters of the Celestial Church of Christ, an indigenous white garment church established in 1947 by Reverend S.B.J. Oshoffa through divine inspiration. The book, the public presentation of which the Faculty of Arts of the University of Lagos played host to, is what Professor Ibrahim Agboola Gambari, former Minister of Foreign Affairs, described in his address, as Chairman of the occasion, as â&#x20AC;&#x2DC;a major contribution to an emerging, rich mine-field of border studies.â&#x20AC;&#x2122; The book reviewer, Professor Abednego E. Ekoko of the Delta State University, Abraka, has it that, in the book, Professor Anthony Asiwaju â&#x20AC;&#x2DC;has most significantly proposed a practical policy formulation with emphasis on integration and bridges, not walls of separation as currently proposed by Donald Trump.â&#x20AC;&#x2122;

Donald Trumpâ&#x20AC;&#x2122;s foreign policy cannot but be a major instrument of setback in the quest for peace as his foreign policy has the potential to generate fresh crises and conďŹ&#x201A;icts while deepening existing ones.These crises and conďŹ&#x201A;icts cannot but also precipitate the quick decline of American power and the loss of its leadership status in the foreseeable future. Donald Trump should therefore learn how to make haste slowly in making America great again

VIE INTERNATIONALE

Bola A. Akinterinwa

S B G From the foregoing, which is better: a border that divides or a border that unites and integrate? Globalisation is essentially about removal of national frontiers and borders to facilitate the movement of goods and persons, as well as to promote the rights of establishment within the framework of regional integration agreements. Donald Trump wants a border that divides in order to ensure American self-preservation, American safety and economic self-reliance. Anthony Asiwaju is not against selfpreservation, safety and economic prosperity. He simply believes that a border can be developed into a town, and then use the border town to integrate the people of the community who may reside on both sides of the frontier. His investigation of the twists and turns, development and its challenges, community living and its challenges, etc in Imeko which grew up from a village to a town and where â&#x20AC;&#x2DC;boomâ&#x20AC;&#x2122; has come to characterise community life, is a case in point. Most unfortunately, however, the direction of global thinking does not appear to lend credence to the promotion of the idea of a border-promoting unity or border for integration purposes anymore. Greater emphasis is now placed on â&#x20AC;&#x2DC;the will of the peopleâ&#x20AC;&#x2122; to define political borders in contemporary global governance. For instance, why is the international boundary between the Israelis and the Palestinians an issue? Why is there difficulty in the establishment of a Palestinian State? We are told in international law that a state is constituted when there is a union of a people, a government and a well defined territory, that is with defined or delimited boundaries. Why is the boundary and Israeli occupation of Palestinian territory an issue in international relations? By mere fact of occupation of Palestinian territory, is Israel not raising issue with the border line? Prime Minister May Theresa has said â&#x20AC;&#x2DC;Brexit is Brexit.â&#x20AC;&#x2122; But what does it really mean beyond the ordinary meaning of withdrawal of UK membership from the European Union? In which way is the Brexit different from Donald Trumpâ&#x20AC;&#x2122;s foreign policy militarism? When will there not be a domino effect of Brexit in either the African Union or the ECOWAS, especially in light of the fact that virtually all the instruments of creation of African organisations are largely inspired by those of Western Europe? What choice should be made between and among a border that separates, a border that unites, and a border for self-aggrandisement? Border in Nigeria, as shown in the 342-paged African Border BoomTown, Imeko, since c.1780 published by Bookbuilders, is that of unity and integration. Border, in the context of US-Mexico relations is about separatism while border in the context of Brexit is about self-projection and â&#x20AC;&#x2DC;Global Britain.â&#x20AC;&#x2122; Prime Minister May Theresa has, in this regard, clearly explained what we should understand by Brexit and Global Britain. As regards Brexit, it is conceived to be a step toward Global Britain. Theresa May noted in her address to the 2016 Conservative Conference that â&#x20AC;&#x2DC;Brexit should not just prompt us to think about our new relationship with the European Union. It should make us think about our role in the wider world. It should make us think of Global Britain, a country with the self-confidence and the freedom to look beyond the continent of Europe and to the economic and diplomatic opportunities of the wider world.â&#x20AC;&#x2122; This is the basis for Global Britain. In fact, the dynamics of the quest for a truly Global Britain are not far-fetched: Britain is considered the fifth biggest economy in the world. As submitted by the Prime Minister May, since 2010, Britain has grown faster than any economy in the G-7 and has attracted a fifth of all foreign investment in the European Union. Britain is the biggest foreign investor in the United States. Perhaps more interestingly, Britain has â&#x20AC;&#x2DC;more Nobel Laureates than any country outside America, ... the best intelligence services in the world, a military that can project its power around the globe...â&#x20AC;&#x2122; Britain has the greatest soft power in the world and sits â&#x20AC;&#x2DC;in exactly the right time zone for global trade and our language is the language of the world,â&#x20AC;&#x2122; May Theresa further noted. Consequently, for the purposes of a truly Global Britain, Brexit requires the repeal of the 1972 Act which gave the direct effect to the European law in Britain. By Brexit, it simply means that laws would no longer be made in Brussels but in Westminster. In general, it simply means that Britain will no longer be subject to the supranational authority of the European Union. Global Britain therefore means self-capacity and self-capability to project British power worldwide. It is about being an effective and reliable global power. It is in the quest for a Global Britain that the British Prime Minister went on official visit to the US last Thursday, 26th January to be the first foreign leader to be received at the White House. In her address to the republicans at a retreat in Philadephia, she raised three important issues: the need for the US and the UK to offer a joint leadership to the rest of the world in the conduct and management of global affairs. In this regard, for instance, she advised Donald Trump to engage Russia but also beware. She noted further that the Iran nuclear deal which Trump has threatened to tear up is â&#x20AC;&#x2DC;vitally important for regional security... We should not jeopardise the freedom that President Reagan and Mrs Thatcher brought to Eastern Europe by accepting President Putinâ&#x20AC;&#x2122;s claim that it is now in his sphere of influence.â&#x20AC;&#x2122; (See concluding part on www.thisdaylive.com)

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

BUSINESS QUICK TAKES

E R

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Implementation Key to Success of Economic Recovery Plan K A and O D As concerns about the laggard pAs concerns about the laggard performance of the economy and the current recession continue to worry all and sundry, the federal government’s recent release of recovery and inclusive growth strategies may just be timely. The fact that some of the strategic thrust contained in the roadmap have been on the cards for a while without appreciable impact on the economy and the living condition of Nigerians have not dampened expectations. The Minister of Budget and National Planning, Senator Udoma Udo Udoma, last Monday unveiled the strategies at the Presidential Villa in Abuja during the Second Presidential Business Forum presided over by Acting President, Prof. Yemi Osinbajo. Udoma stated that the medium-term Economic Recovery and Growth Plan (ERGP 2017-2020) was being finalised to address current economic challenges, restore growth and reposition the economy for sustained inclusive growth. Pointing out that, while 59 strategies had been developed for implementation to achieve the strategic objectives of the ERGP, he stated that 12 of them had been prioritised based on their import to the success of the ERGP. The strategic thrust, which contained 12 plans includes ramping up oil production to 2.2 million barrels per day (MBPD) attaining 2.5 mbpd by 2020, privatising selected assets, accelerating non-oil revenue generation, drastic cost cutting, aligning both

ECONOMY monetary and fiscal policies and expanding infrastructure especially in the power sector, roads and rail as well as revamping the existing four refineries in the country. Other strategies, the minister disclosed are ease of doing business, expanding social investment programmes and delivering on transforming the agricultural sector, promote export as well as accelerating implementation of the National Industrial Revolution Plan using special economic zones as well as focusing on priority sectors to create jobs among others. The minister also noted that the ERGP was different from previous plans and developmental visions that had been developed but not implemented, assuring that implementation of the ERGP would be driven by strong political will in close partnership with the private sector especially in the areas of agriculture, manufacturing, solid minerals, services and infrastructure sectors. He stated that ERGP builds on the existing 2026 SIP, and contains strategic deliverables and enablers to revive the nation’s economy. While some of the 12 strategies aligned with summations by some industry analysts who contended that it is the bucket of policy measures and not one particular plan that will drive economic recovery, observers opined that judicious implementation remained a key factor if the economy would witness recovery and inclusive growth. Analysts, however, cautioned that

increase in oil production could not be viewed in isolation of appropriate fiscal policies that will effectively manage the supply and demand side of forex administration, if oil receipts must impact the economy and ease the forex challenge that the country currently face. While analysts welcome the need to promote export and improve business environment in the country, stakeholders also called for a revisit of the suspended Export Expansion Grant (EEG) and argued that huge revenues are lost in export trade as It is cheering to see that government is beginning to see the need to align fiscal and monetary policy. If that is not done, we could lose the benefits of increased earnings from oil sales to inability to manage the supply and demand sides of forex

operators in the sector have resorted to unofficial trading due to suspension of EEG. An analyst with one of the third generation banks who preferred anonymity told THISDAY that, “The strategies are good on paper even though not all of them are new as you will recall that government have been mentioning of it since last year. That does not take away from the fact that they are good routes to go but I believe implementation is key. “It is cheering to see that government is beginning to see the need to align fiscal and monetary policy. If that is not done, we could lose the benefits of

increased earnings from oil sales to inability to manage the supply and demand sides of forex. So, increased oil production and earnings should not be viewed in silos”, he stated. Also speaking to THISDAY, a Port Harcourt-based analyst, Ezeh Wordu, welcomes the plan to promote export since Nigeria has been losing huge revenue in the area of export trade because operators in the sector have not been going through government since the suspension of Export Expansion Grant. “Promoting export includes improving ease of doing business, this will include looking at reducing cost of production and improving standard so that made in Nigeria goods can be competitive in the global market. So much needs to be done and much is dependent on the will to implement all the strategies”, he stated. In the same vein, Executive Director, Corporate Finance, BGL Capital Ltd, Femi Ademola, noted that, “By privatising some state assets and focusing on priority sectors, local production of so many imported products would be increased while exports enhanced.” Just like others, Ademola, however, added that, the success of these strategies lies in implementation. “And the fact that the implementation of some of the strategies will depend on the cooperation of other parties and the resolution of some lingering issues indicates that success is not guaranteed.” Specifically, Ademola stated that,

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Nigeria’s external reserves increased by 12 per cent within a period of three weeks, it has been learnt. The Governor of the Central Bank of Nigeria, Mr. Godwin Emeﬁele, had revealed early last week that the country’s external reserves had hit $28.9 billion. This means that the reserves have increased by $3.1billion within the ﬁrst three weeks of this year. This is approximately 12 per cent increase, when compared to the $25.8billion the reserves recorded on the last day of 2016. However, on the CBN website, the reserves rose to $27.82billion on January 25 from $27.76 on January 24, after hitting $27.69 on January 23. The country’s foreign exchange reserves had increased to $27.49billion on January 20, according to the statistics. The external reserves rose by 8.9 per cent month-on-month to $27.49billion on January 20. Year-on-year, the reserves however recorded a decline of 3.17 per cent compared to January 2016. The CBN has yet to provide any reason for the recent rise in reserves, although it may be due to the rise in global oil prices and production levels. The reserves had risen by 15 per cent or $3.6billion from $23.8billion recorded on October 19, 2016 to $27.4billion on January 19. This year alone, the foreign exchange reserves have risen by $1.9billion or 7.4 per cent.

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The Nigeria Customs Service (NCS) is focusing on a revenue target of between N700 and N900 billion for the 2017 fiscal year even as it justified the recent ban on vehicle imports through land borders. The service said the ban was aimed at checkmating the smuggling of arms and ammunition which it said, were concealed in vehicles and ferried into the country. NCS’ ComptrollerGeneral, Col. Hammed Ali (rtd), who spokeinAbujaduringthisyear’sWorld Customs Day (WCO) with the theme: ‘Data Analysis for Effective Border Management,’ said majority of arms and ammunition in the country were smuggled through vehicles imported through the land borders. According to him, besides the primary motive of using the ban as a means of boosting the nation’s economy, another major reason was the need to curb smuggling of arms concealed inside imported vehicles through land borders.

The Central Bank of Nigeria has stated that no amount of criticism and blackmail from “self-centred individuals” would make it change its current ﬂexible foreign exchange rate policy. The bank stated so in a statement titled: ‘Nigeria’s current economic situation: Our case’, signed by its Acting Director, Corporate Communications Department, Mr. Isaac Okorafor. The bank said while it was not opposed to the fact that Nigerians had the right to express their views, majority of such views had become attacks on its policy rather than proffering solutions. The statement read in part, “The Central Bank of Nigeria has observed with great concern the continued and unwarranted attack on its policies by a group of Nigerians, whose real interests, ﬁndings have shown, are anything near altruistic, but rather self-serving and unpatriotic.”

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 2922017

BUSINESS CONSUMER

Redefining Corporate Social Responsibility K A

“C

orporate social responsibility is a hard-edged business decision. Not because it is a nice thing to do or because people are forcing us to do it... because it is good for our business,” said Niall Fitzerald, former CEO,

Unilever Not a few analysts agree that Nigerian Breweries Plc is one of the companies in Nigeria that is a socially responsible with a good track record of corporate social responsibility initiatives. Recently, the nation’s leading brewing company was named the Best Company in Responsible Consumption and Production in 2016. The company clinched the honours at this year’s edition of the critically acclaimed Nigeria CSR Awards – The Social Enterprise Report and Awards – SERA, which held in Lagos. In 2014, the company was also named the Overall Winner, Most Socially Responsible Company in Nigeria. In that year, it pulled a total of four awards, winning The Best Company in Infrastructure, Best Company in Supply Chain, CSR Practitioner of the Year and the overall Best Company in CSR conﬁrming its position as the most socially responsible corporate citizen in Nigeria. Nigerian Breweries has also embarked on a campaign to promote responsible beer consumption in a meaningful way; thereby building the image of the brewery industry. Experts – microbiologists, dieticians, nutritionists, medical doctors, sociologists, etc – have been regular faces at the Nigerian Beer Symposium, which have attracted local and international attention. This year’s edition of the forum actually lived up to its billings as Nigeria’s top celebrities across academia, social and political circles converged at the Latana Hall of Eko Hotels, Victoria Island, Lagos, the venue of the event. The beer symposium tagged: ‘Beer and Culture’ drew participants – Nollywood actors, academia, scientists, and nutritionists - from far and near. In his welcome remarks, the Managing Director of Nigerian Breweries Plc, Mr. Nicolaas Vervelde, stressed that the objective of the Nigerian Beer Symposium had been to highlight and share contemporary knowledge on the wonderful product called beer. At this year’s event, Professor Innocent Ujah, a professor of Obstetrics and Gynecology, who is the current Director-General of Nigerian Medical Research Council, Lagos, disclosed that moderate consumption of alcohol was associated with a decreased risk of Cardiac disease Stroke and Diabetes mellitus. According to him, Brewer’s yeast is known to be a rich source of nutrients; therefore, as expected, beer could contain signiﬁcant amounts of nutrients, including magnesium, selenium, potassium, phosphorous, selenium, biotin and chromium. Also speaking at the occasion, Ted Mukoro, a veteran advertising expert maintained that beer was certainly the least alcoholic of all alcoholic drinks, and also the healthiest and most nutritious. According to him, like all enjoyable and exciting things made by nature– alcohol,

sex, sports, dancing – beer could be irresponsibly abused or over-used. “Nothing enjoyable is bad until put to the wrong use,” he said At the same event in 2015,a nutritionist and food technology expert, Mrs. Dolapo Coker, submitted that a moderate intake of beer can positively impact the health and wellbeing of women. Coker, a fellow of the Nigerian Institute of Food Science and Technology (FNIFST) also warned that alcohol abuse impacts the health of the woman through the direct interaction of alcohol with organ systems such as the brain, liver and gastro-intestinal system, when the alcohol is ingested and transported through the blood. Coker added that beer is an alcoholic beverage, but it could be classified as food, because of its nutrient value. She listed the nutrients to include: carbohydrates, like dextrins and polysaccharides; proteins in the form of amino acids; load of vitamins like the B vitamins, vitamin C, folic acid etc; minerals like magnesium, potassium, silicon, selenium etc; it contains fibre like betaglucans etc. Also speaking at the symposium, Dr. Henk Hendricks, a biologist and a project leader in the Institute for Food and Nutrition in The Netherlands, explained that moderation level of beer consumption is beneficial to cardiovascular health. According to Hendricks, some of the inherent advantages of beer include: low percentage of alcohol; large quantities of water; its role in rehydration; a good source of miner-

I K S E R P “one very important strategy mentioned that can help the economy out of recession quickly is the alignment of monetary, trade and fiscal policies.” According to him, “By working together, the fiscal and monetary authority can easily and quickly formulate policies that can solve the structural challenges in the economy and thus make monetary policies effective.” He contended that, “The strategy of expanding infrastructure especially power, roads and rail as well as revamping the four existing refineries is a no-brainer and I think has been over-flogged. On this strategy, it should be more action and less talk.” Besides, Ademola noted that, “The acceleration of the implementation of National Industrial Revolution Plan using special economic zones as well as focusing on priority sectors is a welcome idea. Without an improved and very strong productive base, exchange rate volatilities will continue no matter what we do.”

While welcoming the strategies, which they considered a step in the right direction, analysts at Eczellon Capital Ltd, however, emphasised the political will to implement them. According to them, “The ‘strategies’ are a welcome development and a step in the right direction albeit it is long overdue. Three key important points to infer from the priority areas are: first, the government is interested in addressing the crisis in the Niger-Delta; secondly, there will be a greater role for the private sector via sale of some key economic assets; thirdly, a possible harmonization of monetary, fiscal and trade policies which has been lacking for some years. This will provide some form of succour to economic actors that have hitherto looked up to the government for some form of economic direction in the short to medium terms. However, from history, Nigeria has never really lacked a development economic plan. There have been arrays of such documents prepared by different government.

als; a good source of polyphenolic antioxidants; contains anti-inflammatory xanthohumoles; and a large variety of raw materials, including gluten-free’ fibers. Professor Emevwo Biakolo of the Pan Atlantic University, Lagos, who was the Chairman of the conference, also submitted that moderate beer intake in the elderly appears to be associated with significantly longer survival in men aged 60–74 years and in all elderly women. “There is evidence that moderate alcohol consumption may be associated with better cognitive function in old age,” he said Today, there are about 40,000 types of beer in the world in an industry that employs millions of people directly and indirectly. However, the world of beer is still shrouded in many myths and misconceptions. Some of these are easy to contemplate, while others are downright ridiculous. Recently, the Federal Road Safety Corps (FRSC) and Nigerian Breweries Plc (NB) restated strong commitment to reduce road crashes in Nigeria, particularly those related to drunkenness. Announcing commencement of the eighth yearly ‘Don’t Drink and Drive’ campaign, an initiative sponsored by Nigerian Breweries in partnership with the FRSC in Lagos, the organisation stated that there was need for intensified effort on responsible consumption of alcohol for a safer society. The company has also collaborated with about 12 global alcohol businesses in five key areas such as: under-age drinking, marketing code of practices, consumer information and product innovation, drink-driving and retailer support. Two years ago, the company and FRSC, the government agency that is responsible for safe driving on Nigerian roads, organised a “Don’t Drink and Drive” campaign in four states, covering 1,080 commercial drivers. The company’s collaboration with the FRSC had, in the last six years, been directed at communication to change drivers’ behaviour towards alcohol. Also, in collaboration with the International Center for Alcohol Policy (ICAP), the company has embarked upon an evaluation of previous enlightenment programmes directed at the primary target groups. Meanwhile, not a few industry watchers have picked holes in the Nigerian Breweries’ bold step against beer abuse. They argued that for a product that requires huge volume sales to make profit, educating the public on the risk associated with beer abuse may be considered counter-productive. However, for a company that believes that human decisions should be based on the knowledge of their environment, products and services, Nigerian Breweries has decided to continue to win with consumers by advocating moderation by presenting the health risks of excessive intake of alcohol while also protecting the good side of healthy living with regard to beer consumption. This may have inspired the organisers of the SERA award to specifically recognize and honour Nigerian Breweries for pushing responsible consumption of beer. Analysts also agree that the award should encourage companies in other sectors to emulate Nigerian Breweries in propagating the characteristics of their products, especially products with high level of sugar, salt caffeine, etc. More importantly, scientists agree that the mellowing influence that moderate consumption of alcohol has, with its calming and relaxing impact, will of itself have a sparing effect on stress-related illnesses.

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“The challenge has always lie in having the right institutional framework and political will to implement the contents of the plan. It is in this light, we hope the current government will dimension the 12 priorities areas into SMART – Specific Measurable, Achievable, Relevant and Time bound – goals for the short, medium and long term. This should as well be supported by driving reforms in key public institutions that will drive the implementation of these strategies. Otherwise, the much anticipated ERGP (Economic Recovery & Growth Plan) may end up like the NEEDS (National Economic Empowerment Development Scheme) programme, Vision 2020 and other development plans of previous governments.” Nevertheless, the Chief Executive Officer, Global Analytics Derivatives Ltd, Tope Fasua, argued that, “It would have been great if we could get a fundamental shift in thinking about the economy.” “That government is still locked into resource-

dependence is cause for worry. Our annual budget is still driven by crude oil prices, meaning that we are not really challenging ourselves by thinking outside the box. Not a lot was said about some sort of progressive taxes that we could institute, like the taxes with which many successful countries drive their economy and ensure order in society.” Fasua, however, added that. “With 59 strategies, it may begin to look like we are going through the motions and saying everything everyone wants to hear. We hope the government is being strategic. Getting out of recession itself shouldn’t be too difficult because it is a mere statistical issue. If one part of the economy - say the oil and gas sector - grows due to rising global prices, the economy can get out of recession; but the structural issues in the economy will remain. The vast majority will remain poor and disenfranchised, small businesses will struggle, and the cycle of boom and bust will persist.”

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

BUSINESS ECONOMY

Propelling the Economy with Monetary, Fiscal Policies The Central Bank of Nigeria’s resolve to leave the policy rates unchanged, with a view to ensuring monetary stability and engendering growth may help thrust the economy towards recovery, if accompanied with fiscal stimulus, reports Kunle Aderinokun

iting the need to mitigate the headwinds in the domestic economy and uncertainties in the global environment and in effect, continue to strike a balance between price stability and growth, the Central Bank of Nigeria (CBN) retained the policy rates at their old positions. The CBN monetary policy committee (MPC), which held its 254th meeting last Monday and Tuesday in Abuja, decided to maintain the status quo, having realised that inflationary pressures were still weighing in on consumer prices in an economy that is plagued with the harsh realities of recession. As such, all the 10 MPC members voted to retain the monetary policy rate (MPR) at 14.0 per cent and cash reserve ratio (CRR) at 22.5 per cent as well as left the liquidity ratio at 30.00 per cent and maintained the asymmetric corridor at +200 and -500 basis points around the MPR. Addressing the media shortly after the meeting, CBN Governor, Godwin Emefiele, explained that conscious of the prevailing market sentiments in favour of a rate cut, the committee reasoned that most of its decisions in 2016 were informed by the need to address the delicate balance between price stability and growth. According to him, recognising that, “the pressures on consumer prices were yet to abate and even as the economy continued to be in recession despite the intervention support by the Central Bank, the Committee stressed that it was not oblivious of the full ramifications of the economic challenges facing the country. “ More importantly, Emefiele pointed out that, the MPC was concerned that the current situation was not amenable to simplistic analyses and quick fixes such as have found expression and increased attention at different fora and the media. “The domestic economic challenges which include a chronically import dependent consumption culture, lack of competitiveness of many sectors of the 25 economy and yawning infrastructural gap, have combined with an unfavourable external environment to complicate the macroeconomic policy environment. The monetary authority had on many occasions, and to the extent feasible, taken extra-ordinary steps to support other policies as well as compensate for aspects of structural gaps in the economy even at the expense of its core mandate.” The governor, however, echoed the committee’s optimism that, “the inflationary pressures would begin to subside as non-oil output recovers and the naira exchange rate stabilises.” “Until then, it stressed, a rate cut would worsen the inflationary conditions and undermine the current outlook for stability in the foreign exchange market. The Committee also feels that doing so would further aggravate demand pressures while undermining existing income levels in the face of the already expansionary 29 monetary policy and increasing inflationary pressure which will make the economy unattractive for foreign and domestic investment. Given these limitations, the Committee was reluctant to lower the policy rate on this occasion but remained committed to doing so when the conditions permit.” Besides, Emefiele, while also adducing additional reason for the MPC decisions, noted that, “Given the growth in money supply arising from unconventional monetary policy operations of the bank and implications for price and exchange rate developments, the committee is committed to moderating growth in narrow money in the 2017 fiscal year in line with the bank’s monetary growth benchmarks.” The MPC decisions have elicited reactions from economic analysts and market watchers, who, mostly, were not surprised. In fact, all the

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analysts, whose projections were obtained by THISDAY had predicted that the CBN would hold all the policy rates. Analysts Speak A former CBN director and Director-General, West African Institute for Financial and Economic Management (WAIFEM), Prof. Akpan Ekpo, expressed no surprise at the MPC decisions as he had predicted that all the rates would be left unchanged. He, however, cautioned that the federal government must not waste time in passing the budget so that the requisite fiscal stimulation could be implemented with a view to salvaging the economy. According to him, “It was a step in the right direction. The economy is in a recession and it is only the visible hand of government that can rescue the economy via spending. The MPC is also correct by calling for quick passage of the 2017 budget. A prolonged delay in passing the budget would have adverse effects on the economy. For now the economy must be energised through fiscal policy.” However, Managing Director and Chief Economist, Global Research, Africa, Standard Chartered Bank, Razia Khan, whose estimation on the policy rates were satisfied, cautioned that, “The key takeaway from the CBN’s MPC meeting was what was being signalled regarding future policy.” “Some element of mixed messaging appears to be creeping in. On the one hand, we had a repeat of much of what we had heard last year: that the economy – although expected to recover – remains in a vulnerable position. Nonetheless, inflation is expected to decelerate on a pronounced base effect and better agriculture growth, and the CBN may even – at this meet-

ing - have been signalling future policy easing yet to come,” she pointed out. But Khan added that, “the CBN also demonstrated that it is not immune to the criticism that money supply is running well above target, and to try to reassure on this front, the CBN has pledged to redouble efforts to bring narrow money growth back within its preferred benchmark range. “The proof is likely to lie in what actually ends up happening to money supply growth. All of the data, including CBN financing of the government, will be carefully scrutinised going forward.” The renowned economist believed that, “For now, the only clear takeaway is that there are no imminent plans for further FX liberalisation. FX will continue to be rationed, with key sectors being prioritised. There are no immediate plans for a real policy tightening as such.” Asking, “Could the CBN cut rates later this year?, Khan noted that, “ While this remains our core view, much will also depend on the level of debate at the MPC. What is clear from the publication of the personal statements of MPC members from the previous November meeting is that achieving a consensus around future policy decisions may be difficult.” “The MPC gets to decide – broadly – on the policy rates that are voted on (the MPR, the corridor around the MPR, the CRR, the liquidity ratio etc.). But the ‘real action’ in terms of monetary policy may well have been the extent of money supply creation by the CBN, independent of these variables. Therein lay the policy dilemma,” she added. Similarly, the Chief Executive Officer, Global Analytics Consulting, Tope Fasua, said the maintenance of status quo was expected because “there are risks if rates are moved either way.”

According to him, “Manufacturers are complaining bitterly that benchmark rates are punitively high at 14 per cent so a further raise is a no-no. Cutting rates also seem to be out of question because there are risks such a move will spur inflation. I believe that at some point though, the MPC can begin to look at rate cuts. Luckily inflation is now rising at a lower rate. There is a limit to which prices of goods and services can keep rising in the face of static or dwindling effective demand.” Executive Director, Corporate Finance, BGL Capital Ltd, who reasoned that, a more accommodative monetary policy would have helped the economy out of recession, noted that, “the antecedents of this Committee indicate that the high inflation environment and the continuous exchange rate volatilities requires monetary tighten to manage; hence a middle ground of keeping rates constant was preferred.” “The implications of this action are that the yield of fixed income instruments would remain high as well as cost of funds to the productive sector. The cost push cause of inflation would remain and hence inflation would continue to be high. The exchange rate volatilities would also remain in the near term as uncertainties and high production costs prevent increase in foreign earnings through exports. The hope of exiting the recession early in 2017 will therefore depend solely on the fiscal authority through structural adjustments and reforms and budget implementation. “Although uncertainties in the global environment is a major concern, it is becoming clearer that the major focus should be on creating a self-sustaining domestic economy through strong productive base and improved exports. Rather than attract foreign investment at the detriments of local entrepreneur, it would be more beneficial to Nigeria to focus on creating enabling environment for local production with the consequence of reducing dependence of imports and also aid foreign exchange earnings through exports. Strong local operations would also be able to successfully attract foreign direct investments. In my opinion, it would advantageous for global competitiveness for the monetary authority to consider monetary accommodation and support local businesses,” he submitted. Also, in its analysis, Financial Derivatives Company Ltd, noted that, “There was a clear suggestion that the committee believes strongly that domestic inflation was a victim of import dependence and that the weak naira was feeding into the price equation.” Just like Khan, FDC observed that, “The MPC for the first time in many meetings acknowledged that money supply growth both in its narrow and broad form are catalysts of price inflation.” “The apex bank also hinted at the possibility of a more accommodative policy in 2017. The potential of positive growth in Q4 GDP and the increase in external reserves will enhance the CBN’s capacity to reduce interest rates. The new growth and recovery plan and the external borrowing plan are expected to serve as catalysts to reflate the economy,” it added. Besides, FDC stated: “Global oil prices have also increased at a 100 per cent mark up to $55pb from this time last year. Efforts by the government with the recent visit of Vice President Osinbajo to the Niger Delta and the compliance of militants reinforce expectations of improvements in oil production levels. “Recent events may have prompted the apex bank to be more consistent in its policy decision. The IMF Article IV team is currently visiting Nigeria and an endorsement from the IMF will go a long way in nurturing investor confidence in the country and encouraging capital inflows. On the global front, oil price volatility and the rise of

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

BUSINESS ECONOMY

Accelerating Economic Recovery, Growth in 2017 In the light of the current recession and rising inflation, which closed last year at 18.55 per cent, the Nigerian Economic Summit Group in its Macroeconomic Outlook for 2017, proffers policy measures that could quicken economic recovery and sustainable growth. In this report, Olaseni Durojaiye looks at the highpoints of the report

A B T M L C B D

o doubt, the discussions bordering on the nation’s economic challenges, with a view to finding solutions to them, will not abate until the economy is out of the woods and begins to record growth. Indication to this effect is evident in the number of fora and resources dedicated to the topic and hosted by different groups and organisations from financial sector to faith-based groups alike. Beyond the discourse, however, the Nigeria Economic Summit Group (NESG), in its Macroeconomic Outlook for 2017 themed: ‘Looking Inward: Will Nigeria Thread the Path of Economic Recovery and Growth in 2017?’, proffers ways to quicken the country’s economic recovery and set it on the path of sustainable growth, even as it noted that stop gap measures will not ensure sustainable growth. The report was presented by the Head of NESG Research team, Dr. Olusegun Omisakin. Background The economic turbulence, which started mid-2014, became severe in 2016. Nearly all expectations and the much-awaited impact of policy measures did not materialise. Nigeria’s real Gross Domestic Product (GDP) contracted by 1.6 per cent in 2016, a far cry from 3 per cent growth rate recorded in 2015. A wide range of economic sectors faced severe capacity shock on the backdrop of higher input cost and foreign exchange shortage. For instance, in the third quarter of 2016, agricultural sector was held up to a growth of 4.54 per cent from the usual 6 per cent, industrial sector declined to 12.21 per cent and services sector (which makes up

more than half of economic activities) progressively became weaker with a growth of -1.17 per cent. It was not a surprise that the economy, which experienced decelerating growth in 2015, eventually plunged into recession in 2016. With Central Bank of Nigeria (CBN) spending billions of dollars trying to shore up the naira, foreign exchange reserves could not salvage the struggling naira from the cross-currents. The various measures and interventions in the exchange rate market were unable to halt the widening exchange rate premium and resolving the liquidity challenges. For a country with heavy imports component in its consumption profile, inflation could not hold back and for the first time in 11 years, inflation closed at 18.55 per cent, according to renowned economist Dr. Doyin Salami. What Government Should Do Beyond identifying when the build-up to the current recession started, the report identified low oil prices and its knock-on effects on government revenue as well as the shift in the global monetary policy cycles and the downside risks it has created for Nigeria’s financial markets as the causes. The report warned against relying solely on quick fixes to upturn the economy towards the path of recovery and sustainable economic growth in 2017 and beyond. The report, which, according to the Chief Executive Officer of NESG, Laoye Jaiyeola, in his remarks at the launch is “research based and data driven”, stated that the country’s economic woes present an opportunity to implement some tough fiscal and structural reforms to improve the business environment, ensure self-sufficiency and export-led

growth. It will be recalled that this was part of the recommendations to government at the close of the 2015 Nigerian Economic Summit Group, which held in Abuja. Looking Inward The report insisted that Nigeria’s quest towards economic recovery in 2017 and beyond will depend largely on how it supports the production of strategic goods and services on a large-scale to meet local and exports market needs. One justification for Nigeria to promote “Madein-Nigeria” by improving the business environment lies in the fact that any economic recovery achieved outside the scope of supporting the productive base of the economy will not be sustainable. It would only depict a typical case of postponing the “evil day”. Nigeria, therefore, must realise that looking inward remains the sustainable way to create jobs, enhance foreign exchange earnings through the increase in net-exports and ultimately get Nigeria out of the economic recession. It is, undoubtedly true that a strong productive sector protects the economy from unforeseen external shocks and, therefore, engenders sustainable economic growth through job creation and value addition”, the report stated. While it hailed the Nigerian Industrial Revolution Plan (NIRP) as representing a “great reference tool”, it called for its urgent review to reflect current realities and aspiration for the sector, even as it noted that communicating same to both domestic and foreign stakeholders is crucial in mobilising investments into strategic sectors of the economy. On the macro scale, the report insisted that sound macroeconomic policy environment would be the main anchor of the “Made-in-Nigeria” initiative.

It also noted that “the growth-enhancing stimulus would require that interest rate is adjusted downwards to a business-friendly level in order to spur credit growth and economic activity, the situation becomes more complex, considering the need to ensure stable inflation and exchange rates. This will remain a conundrum for the CBN in 2017.” Strengthening DFIs The report proposed the strengthening of development finance institutions to support businesses on a wide-scale. While it noted government’s commitment to recapitalise the Bank of Agriculture and Bank of Industry with a sum of N15 billion and hasten the process to start the Development Bank of Nigeria, as contained in the 2017 budget, economist and research analysts at the economic advocacy firm proposed that its implementation be prioritised in the year. “We also believe that monetary policy choices in 2017 are limited and may not significantly drive foreign investment inflows or prevent outflows to stabilise the naira exchange rate. Hence, monetary policy must complement growth enhancing fiscal policy along with other trade and structural reforms. The report contended that by proposing a budget size of N7.3 trillion, the federal government has shown it has plenty of firepower for fiscal stimulus in 2017 and added that the impact of the budget to stimulate economic activities would depend largely on three main factors: the attainment of key assumptions of the budget, the implementation of the capital component of the budget and the success of social intervention programmes.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

BUSINESS ENERGY

As PPPRA, N’ Assembly Debate on Petrol Pump Price… Chineme Okafor writes on the recent debate on pump price of petrol between the House of Representatives and the Petroleum Products Pricing Regulatory Agency (PPPRA), bringing into play the views of independent experts on the arguments proffered

ecently, at its public sitting, the House of Representatives Ad-hoc Committee on the Review of Pump Price of Petrol accused the Petroleum Products Pricing Regulatory Agency (PPPRA), the government agency responsible for regulating petroleum prices in Nigeria, of making Nigerians pay more for petrol through unnecessary costs in its pricing template for petrol. According to the committee, the pump price of petrol which is presently N145 per litre across service stations in the country, should not be more than N70 per litre based on their findings. They explained that the 84k port charge and the 30k administration charge, which are embedded in the PPPRA pricing template as part of its fundamentals were fraudulent. In their findings, the committee alleged that the 84k port charge was for services that the Nigerian Ports Authority (NPA) never rendered while the 30k was provided for in the annual budget of the PPPRA. In their claims, the committee also noted that the administrative charge was increased by 100 per cent to 30k from 15k after the removal of subsidy on petrol in 2016. They maintained that the PPPRA template was skewed to exploit petrol consumers in Nigeria on the basis of the needless costs they alleged existed in the template. “In the 2017 budget, which is before us, PPPRA has a proposal of another N500 million for regulation, monitoring and supply of petrol. This budgetary provisions have already taken care of the purpose for which you charge 30k on the template, yet Nigerians continue to bear the burden by paying N145 per litre. “This has left Nigerians in a situation where they still pay for lightering services for smaller vessels that go to Cotonou or Lome to offload products from mother vessels…but PPPRA will then add the cost to the pump price and ask Nigerians to pay,” said Hon. Raphael Nnanna Igbokwe who chairs the committee on his claims against the agency. Igbokwe also alleged that these costs were included in the pump price for petrol refined in-country in the three refineries of the Nigerian National Petroleum Corporation (NNPC), adding that such was unwholesome. Responding, however, to these claims of the committee, the Acting Executive Secretary of the PPPRA, Mr. Victor Shidok, indicated that the charges in the template were verified and justified as statutorily requested before inclusion in the template. Shidok explained that the administrative charge was used to pay for the services of certified cargo inspectors, who are engaged by the PPPRA, and that the budgetary allocation the committee mentioned was inadequate for payment of the inspectors, and take care of other overhead charges. On the committee’s probe on pump price of petrol from NNPC’s refineries still being sold at the same rate with imported petrol, Shidok stated that there were two separate templates in operation which allowed for a price band of N140 to N145 per litre and that the NNPC or marketers were allowed to source for products and sell within that range. Notwithstanding the claims of the House Committee on the pump price of petrol, the template as currently designed was not an autonomous design of the PPPRA, but a collective outcome from a consulta-

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tive forum that reportedly involved the National Assembly, organised labour in the country, organised private sector, and all other relevant stakeholders in the country. According to knowledgeable industry players who spoke to THISDAY, the process of arriving at the current template in May 2016, when the Federal Government opted for a partial deregulation of the downstream petroleum sector, was quite extensive. Last updated in 2016, the template which places landing cost at N122.03 and distribution margins at N18.37, has the total cost of importation and distribution of a litre of petrol at N140.40, and has remained unchanged. It also indicated that marketers can sell petrol within the retail price band of N140 to N145 per litre. Economic Fundamentals Vs. Populism Though the House Committee said its deep findings supported its claims and expectations that pump prices of petrol should be sold at N70 per litre, the current market fundamentals on refined petroleum products do not seem to support such claims. As contained in the January 2017 monthly market reports of the Organisation of Petroleum Exporting Countries (OPEC) which was released recently, the average crack spread for US and European refineries where Nigeria reportedly gets most of its refined products from was $20 per barrel and $17.8/b respectively, while the prices per barrel of refined US gasoline cargoes on Free on Board (FOB) basis were $63.10/b and $63.58/b for premium gasoline in that order. Accordingly, the crack spread is usually

the difference between the purchase price of crude oil and the selling price of finished products, such as gasoline, that a refinery produces from the crude oil. The spread show the short-term profit margin of refineries in consideration of the cost of the crude oil inputs to the wholesale, or spot prices of the outputs, though without other variable costs or any fixed costs. It is also calculated in US index terms that there are 159 litres in a barrel of oil, and about seven barrels in a metric tonne of cargo. This, though not confirmed by marketers however suggests that a metric tonne of petrol may cost about $441 at the moment, and this is excluding other costs such as storage, handling and freight costs. Some global oil and gas business expert who spoke to the paper on the development explained that the committee may have failed to work with existing market fundamentals in its investigations. One of such, Mr. Dan Kunle called on the committee to explain how it arrived at its pricing model. He said: “We don’t know where they are coming from, how they arrived at that price or their econometric parameters. If you produced a barrel of oil for about $25 onshore and offshore for $35, and add refining and other associated costs, will you arrive at N70 per litre?” “If their econometric was based on a 100 per cent local production and refining, when you add other inputs, can you still sell for N70 per litre? So, on that basis, the National Assembly should show their economic parameters because if it is based on importation, and at the exchange rate,

can you import a litre of petrol even at 50 cents and still sell at N70 with the current exchange rate? “If you find the median between the government and parallel market exchange rate, you will find that it is about N450 to a dollar. It is difficult for me to understand this (N70 per litre) because I have not seen their scientific analysis which should show the unit cost of producing a barrel of crude oil and refining costs, and this should also include the cost of financing,” Kunle added. Board Meets on the Debate Meanwhile, the board of the PPPRA on Thursday met behind closed doors perhaps to consider the debate on the pricing template following the committee’s claims and rumours of imminent price adjustments. As reported in the media, the board which consists of the Nigerian Chamber of Commerce, Industry, Mining and Agriculture (NACCIMA), the Manufacturers Association of Nigeria (MAN), Nigeria Labour Congress (NLC), Major Oil Marketers Association of Nigeria (MOMAN), Independent Oil Marketers Association of Nigeria (IPMAN), Petroleum and Natural Gas Senior Staff Association (PENGASSAN), as well as Transport Owners, and Nigerian Employers Consultative Association (NECA), amongst others, met to consider a review of the pricing template but the outcome of their deliberation was not made available to the media at least as the time of filing this report. Efforts to get insight on details of the board’s deliberation from the PPPRA proved abortive as its officials kept mum.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

BUSINESS ECONOMY

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Appraising FG Duties’ on Luxury Items, Consumables Stakeholders in the maritime industry, who see nothing wrong in introducing high duties on luxury items, however argue that government needs to reduce duties on other essential goods to check rising prices, improve on its foreign exchange policy, if it hopes to generate high revenue from the sector, writes Francis Ugwoke

t a period of economic recession, the federal government is no doubt exploring new revenue options for the country. Perhaps, the nation’s maritime industry is one. This is even more so with many adjudging maritime as next to oil in terms of revenue generation.This explains why the Transportation Minister, Rotimi Amaechi, on assuming office gave a revenue target of N500 billion each to the Nigerian Ports Authority (NPA) and the Nigerian Maritime Administration and Safety Agency (NIMASA). The revenue target was for last year. The minister had threatened that any of the chief executives, who failed to meet the target would not be spared. But it appeared that the minister soon realised he goofed with the revenue target. First reason was that the entire economy was on recession and the worst hit was the maritime industry where the foreign exchange policy of the Central Bank of Nigeria (CBN) did not favour the sector. So, the minister later relaxed his order. He, indeed, had no choice considering the total revenue generation of the Nigeria Customs Service (NCS), which spoke volumes of what should be expected from the two agencies. The customs generated about N898.67 billion for the whole year as against its target of N1trillion. The service had recorded N903 billion for 2015. The Comptroller-General of the Service, Col Hameed Ali (rtd), had made it clear that the prevailing CBN policy on forex as it affects importers on 41 items list was responsible for the inability of the Customs to meet its revenue target. Ali knew that the N898.67 billion would not have been possible if not for the high exchange rate at which duties were calculated by the Customs. One is not sure of how much revenue both NPA and NIMASA recorded last year. However, this year, it appears to be the turn of the Finance Ministry, which has raised duties on luxury items, consumables and others.This is expected to increase revenue generation from the maritime sector this year.Yet, many industry stakeholders believe that this may be a miscalculation on the part of government, except on luxury goods.

High Duties on Luxury Goods Towards the end of last year, the finance ministry issued circular raising duties on luxury goods, including yachts, sport utility vehicles, alcoholic spirits, beverages and tobacco from 20 per cent to 60 per cent. Rice, salt and sugar cane were also affected. Import duty for sugar cane and salt went up from 10 per cent to 70 per cent; alcoholic spirit, beverages and tobacco from 20 per cent to 60 per cent; rice from 10 per cent to 60 per cent, packaged cement - from 10 per cent to 50 per cent; cotton/ fabrics materials- from 35 per cent to 45 per cent, used cars - from 10 per cent to 35 per cent. Also affected were medicaments, such as anti-malarial and anti-biotic drugs; crude palm oil; wheat flour; tomatoes paste; and cassava products. The announcement had come from the Finance Minister, Mrs Kemi Adeosun, who said that President Muhammadu Buhari had already signed the new tariff regime. Under the regime, essential industrial sector accessories, such as bolt, industrial oil and other equipment would witness fall in tariff rates. This, the government said, would encourage local industrialisation. Part of the circular reads: “This is to confirm that Mr. President has approved the 2016 fiscal policy measures made up of the Supplementary Protection Measures (SPM) for implementation together with the ECOWAS CET 2015 – 2019 with effect from 17th October, 2016. Consequently, all transactions prior to the effective date of this circular shall be subjected to the tariff rates applicable before the coming into effect of this 2016 fiscal policy measures.” Impact on Generation The Customs revenue target for this year was yet to be released as at the time of filing this report. But it could be between N1trillion to N1.2trillion. With the increase in the tariff on luxury items, among others, there is no doubt that the service may meet its target this time. Although importation of such luxury items has gone down, including other goods as beverages, many importers still struggle to source foreign exchange to bring them into the country. This is simply to remain in business. This explains why they have remained very expensive. But the other key factor

that will continue to increase customs revenue is the policy banning importation of vehicles and rice through the land borders.Though the policy is painful to Nigerians, it may turn out to increase revenue for the Customs and other agencies of government. This is because importers, who bring in their goods through the seaports pay high duties unlike those who go through the land borders.This explains why many importers divert goods coming to Nigeria through the neighbouring ports. Importation through the land borders has been argued to favour mainly some unscrupulous customs personnel and smugglers. It was for this reason that the comptroller-general was said to have lobbied to get the federal government to introduce the policy banning rice and vehicles from coming through the land borders. The policy is, however, a big blow to many Nigerians since it is cheaper to buy vehicles when one crosses the land border than buying the ones that came through the seaports. Many believe that the ban will create a new problem of increased wave of smuggling that may be difficult for the Customs to handle. Revenue Vs. Trade Facilitation One issue that has been used against Nigeria is that the government has always paid more attention to revenue generation from the ports than trade facilitation as against the standards set in other neighbouring ports. One of the reasons why Nigerian importers prefer the neighbouring ports of Cotonou is because of the efficiency in their port system, easy processes and absence of delay in clearing goods and low cost of doing business at the port. It is the same in other West and Central African ports, which compete with Nigeria in the choice of a load centre. In Nigeria, the high cost of doing business at the ports is unimaginable. The charges by most service providers are so high that many Nigerian importers prefer to divert such goods through the neighbouring ports where they bring them into the country through the border stations. Some of them are smuggled. Efforts to address such high cost of doing business in the ports are usually frustrated by the service providers who deploy all their resources and connections to continue to reap from illegality.

Most times, the government lacks the political will to address the issue, preferring the legal system to prevail.Yet, our legal system is so corrupt that most times the arbitrariness continues to thrive. That is what appears to have prevailed in the ports industry. Stakeholders’ Views Industry stakeholders, who spoke on the new tariff regime announced by the finance ministry said it spoke volumes of government’s desperation to rake in more revenue from the maritime industry this year without addressing key economic issues that have affected the sector. While those, who spoke to this writer say there was nothing wrong in imposing high duties on luxury items, they, however, criticised government for increasing duties on essential items that Nigerians cannot do without, including duties on some pharmaceuticals. Besides, they pointed out that the major issue is the high cost of sourcing foreign exchange. Former President of National Association of Government Approved Freight Forwarders, NAGAFF, Dr. Eugene Nweke, said the issue had been the difficulty or the cost of buying foreign exchange to import most of the goods into the country. Nweke said that it was surprising that while government was desirous in reaping from the maritime sector, it had introduced policies that were stifling trade in the sector. He said there was nothing wrong in introducing high duties on luxury item, but added that government should introduce policies that will make it easy for importers to source foreign exchange without stress and at good rate. He also advocated for a reduction in the tariff of some goods imported into the country apart from the luxury ones. A maritime lawyer, Mr Kasa Opara, who also agreed on reduction of tariff on some goods that are not luxury items added that the foreign exchange policy, which has denied most importers except manufacturers’ official allocation of foreign exchange has created a lot of havoc in the maritime industry. Opara said government should consider the huge economic value created by the maritime industry when it is introducing policies that suffocate the system. He said that the high tariff, which importers pay on goods was the reason why prices of goods in the market were very high.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 2922017

BUSINESS TRANSPORT

Repositioning Nigeria Customs Service for Better Performance? With a surprise deployment of 245 senior customs ofﬁcers, including those in the rank of Assistant Comptroller-Generals, there are indications that the Nigeria Customs Service leadership may be refreshing the system for efﬁcient revenue generation and service delivery, writes Francis Ugwoke

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t was a New Year message for senior officers of the Nigeria Customs Service (NCS), who were affected in a redeployment exercise announced by the Comptroller-General of the Service, Col. Hameed Ali (rtd). Affected officers did not expect the news when it came. First, it was with the officers in the ranks of assistant comptrollers-general before it was followed by deputy comptrollers scattered in many parts of the country. Among those affected were Charles Edike, who was moved from Zone A to Human Resource Development (HRD); ACG Ahmed Mohammed from HRD to Zone B; and ACG Aminu Dangaladima from Zone B to Enforcement. Others were ACG Francis Dosunmu moved from Enforcement to Zone D; ACG Augustine Chidi from Zone D to Excise, Free Trade Zone and Industrial Incentives (Ex, FTZ, & II); ACG Monday Abueh from Ex, FTZ, & II to Zone A. Similarly, ACG Umar Sanusi was moved from the headquarters to Zone C and Abdulkadir Azerema redeployed from Zone C to the headquarters. The Customs had last year sacked 48 officers. It also retired 11 other officers. In a statement signed by the Customs spokesperson, Joseph Attah, the exercise was part of the efforts of the CG to strengthen operations and reposition the service. This is to meet the challenges of 2017. He charged all officers and men of the service to ensure maximum collection of revenue and strict implementation of fiscal policy of government. Perhaps one significant aspect of the exercise was the deployment

of the Public Relations Officer of Customs, Wale Adeniyi, who was in that position for close to two decades. He is among the 238 deputy comptrollers affected in the exercise. As the image maker of the service, Adeniyi has been in the Abuja headquarters for close to two decades. He has resumed office in Apapa Port Command. Observers say if he had the choice he would have remained in Abuja for obvious reasons. Movement from Abuja to Lagos for such a big organisation like Customs is considered a big issue for the personnel affected. The reasons are obvious, Abuja is a place to work and enjoy life, considering the good road network and traffic –free drive to almost any part of the city. It is the opposite in Lagos, particularly Apapa where traffic is a nightmare for any worker. But Adeniyi has no choice, and he would only be visiting his family in Abuja every weekend if they cannot move to Lagos. As a deputy comptroller in Apapa, he would be on the field or his office face to face with customs operations in a clear productive manner. It is like a soldier in the war front where action takes place. Postings in Customs There are two sides of the coins in Customs postings, like in many other organisations where there are ‘juicy’ areas. Certainly, some people will be smiling and others crying. And it is all about the ‘economy’ and what goes into the pocket. Apapa port is one area that is ‘juicy’ that every officer will always be happy to smile home after each day’s work. So, it is also for

officers in Tin Can Island port, among others. Officers, who are moving out of Apapa or anywhere in Lagos to ‘dry states’ where there is no seaport or border posts where smugglers can be hunted, have reasons to cry. It is not about salary. It is about real deals, including offenders in concealment, under-declaration, under-invoicing, among other economic crimes. These crimes are money spinners for officers in some duty posts. And they must make returns to remain on such ‘juicy’ positions. Repositioning In recent time, the customs management has come under criticism by many Nigerians that it has not done enough in certain areas. Many believe that the leadership of the Customs may have carried out the exercise to also change the situation. Many believe that the war against corruption among officers has not been won by the CG. The other issue is smuggling activities in the border routes, which many believe have remained a big problem in the country. While it is true that one witnesses series of seizures announced by the various commands across the country, yet one can still get some prohibited goods from Nigerian markets. Some officers of the service are being accused of colluding with smugglers to allow some prohibited items into the country at agreed time for a fee. But the argument is that the customs has not been well equipped by the federal government to police the borders against smugglers. The illegal routes are uncountable. However, it is expected that the redeployed

officers will have a lot to offer to the service in their areas of operations. The redeployment is seen as refreshing the system for better performance. A source told this writer that what Ali did was simply to try new officers in certain positions for maximum results in the area of revenue generation and service delivery. If this is the case, Ali will have to exercise patience to get good results. The reason being that officers in new positions always spend time learning before perfecting the system. Some of the officers may not have seen certain customs documents before and have to be put through to be able to discharge their duties well. Ali’s Assignment Industry observers believe that Ali is heading somewhere soon in his assignment of repositioning the Customs. Customs sources say, he is already searching for his own replacement. And he would do this before the plans to merge the Customs with the Federal Inland Revenue Service (FIRS), is fully realised. Sources said since Ali is one man who is not materialistic from every indication, he would want to conclude his assignment as soon as possible and hand over to a customs officer from the system. Our source disclosed that, this is most likely to be this year. Already, most of the serving deputy comptrollers-general are billed to retire from service this year. This means that the present ACGs will certainly climb to their positions. But our source added that Ali is currently in search of who will take over from him from the rank of comptrollers.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 2922017

BUSINESS POWER TRAVEL

G I P P

Power Outage: The Need for FG, Stakeholders’ Dialogue The worsening power generation and distribution nationwide has stiﬂed socioeconomic and political life forcing productive activities to a halt. In this report, Joseph Ushigiale calls for immediate dialogue between the federal government and stakeholders to fashion out a rescue package that will permanently mitigate the current nationwide outages

ince the inception of the present administration headed by President Muhammadu Buhari, apart from the few weeks following his inauguration when his famed‘body language’ guaranteed steady supply of electricity to most homes across the country, what followed after that flash in the pan period was that power supply virtually relapsed from worse to worst with most households subjected to the excruciating pains of darkness daily and are still expected to pay estimated bills even when no service has been rendered.It has not been this worse. For a government that promised Nigerians that it will ensure the“generation, transmission and distribution of at least 20,000 MW of electricity within four years and increasing to 50,000 MW with a view to achieving 24/7 uninterrupted power supply within 10 years,” an Eldorado of a sort once it took office, the current experience of perpetual nationwide darkness underscores the fact that Nigerians are experiencing something worse than hell. How did we get to this sorry state? The present power sector predicament did not start today. Indeed, every successive administration beginning from former President Olusegun Obasanjo had budgeted huge sums of monies all with the aim of increasing generation and transmission capacities to power the national grid. The Obasanjo regime reportedly sunk about $16 billion in this effort which ended up with the building of several power plants under the National Independent Power (NIPP) project. Unfortunately, the power plants were conceived and built without provision for gas. Acknowledging that this was part of the current power problems bedeviling the country, Minister of Power, Housing and Works, Babatunde Fashola,

admitted in a recent interview that“We already have power plants in place but there are no gas pipes there. We are constructing gas pipelines now; but what was the planning that went into conceiving a power plant without a corresponding gas pipelines to it?” It was under these sad realities coupled with the World Bank’s advice that the former President Goodluck Jonathan regime decided to adopt a full privatization option to unbundle and sell off the Power Holding Company of Nigeria (PHCN).After a highly competitive bidding process involving both local and foreign investors, the winners were announced and Jonathan handed to each one of them, their respective certificates for the power plants they won to begin the business of transforming the power sector value chain. Angst and Calls for Repudiation However, the feelings across the nation over worsening power situation since the past three years that the private sector took over the generation and distribution of electricity in the country have been that of anger and outright frustration. From Port Harcourt to Kebbi, Kano to Oshogbo, Sapele to Umuahia, Lagos to Sokoto and Akure to Abakiliki, the story is the same: No power while consumers pay for darkness. For instance, Nigeria has installed power output of 11,165mw, of which the 12 plants have a combined capacity of 2,035mw The growing feeling is that the privatization of the assets of PHCN was nothing but a fraud to the detriment of consumers. And the feeling is justifiable. Three years after the privatisation, Nigerians have not seen the promised benefits of the private sector’s take-over of the distribution and generation of power. To compound the situation, mind-boggling funds have

been sunk into the sector with nothing to show for it. Amid the appalling power supply, many consumers are disturbed by inadequate meters and the crazy billing system in the name of estimated bills. In fact, the billing system and poor metering by the DISCOs have forced many consumers to doubt the wisdom behind the privatisation of the power sector. Today, the general feeling is that the defunct Power Holding Company of Nigeria, PHCN, performed better than the electricity Distribution Companies, DISCOs, and Generation Companies, GENCO. Meanwhile, many concerned individuals and groups are calling for a review of the privatisation of the assets of the PHCN with a view to returning the sector to public control. Following the inauguration of the present administration, calls have inundated the presidency seeking the cancellation of the sale of power plants on grounds of alleged widespread and gross irregularities and cronyism in the process by the Jonathan regime. But Fashola dismissed suggestions on the possible cancellation of the privatisation contract in the power sector. He said he was against such move arguing that the country would by such cancellation be sending negative signals to foreign investors that she has no respect for agreements. Pointing out that the action would only take the nation backward, the minister, who noted that the programme was just three years old and needed time to mature, added,“We should think on what to do to make it work better instead of cancelling it”. Dwelling further into why he is averse to the cancellation, he said“Many investors don’t like that kind of behavior. In the event, we haven’t solved the problem by cancellation. I can cite one example, in 2005, Nigeria signed concession contract for its

refineries to private individuals in this country. We complained, government canceled the concession and this is 10 years after, we are still importing fuel. One of those private individuals is now building his own refinery here in Lagos. Just imagine the time we lost and how much we have spent on importing fuel.” Barely three years down the line, there is evident chaos in the power sector with the situation reported to be so bad that an operator, Mr. Tony Elumelu, voiced his fears pointing out that“We are all living in a borrowed time; it is a matter of time before something drastic is done.” Citing multiple factors ranging from gas pipeline vandalism which has made the evacuation of gas from the fields to the power plants impossible, Elumelu pointed also at mounting debts owed the power companies by the federal government and the inability of the power companies to procure foreign exchange for maintenance of power equipment and expansion. He also said payment delays and debts to Gencos, poor gas supplies and certain unhealthy governance issues were major contributors to the sector’s challenges. Low Tariff, Huge Debt Overhang Investors in the power sector had hoped, as part of their business model, to seek what they consider appropriate pricing for electricity supply to consumer. Relief came their way in February 2016, when the government, through the National Electricity Regulatory Commission, NERC, launched the multiyear tariff system, which pegged tariff at a minimum of N20.26/ KW and a maximum of N28.05/KW. C PG

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 2922017

BUSINESS PENSION

Between First Guarantee Pension, Chidi Duru and PENCOM The recent arrest and on-going prosecution of former House of Representatives member, Nze Chidi Duru, who have insistently claimed lion’s share in the First Guarantee Pension Limited, has introduced a dangerous dimension to the Pension administrator management. Iyobosa Uwugiaren, who have been following the issue reports

he contentious role played by former House of Representatives member, Nze Chidi Duru, in one of the thriving pension administrators in Nigeria today, the First Guarantee Pension Limited (FGPL), recently took a treacherous dimension. Duru along with his lawyer, Mr. Smart Iheazor, were recently arraigned before a Chief Magistrate’s Court in Tinubu, Lagos, by the Zone 2 Command, Nigeria Police Force, Onikan, Lagos, for alleged stealing. They were charged with four counts bordering on conspiracy, stealing, breach of peace and impersonation. They were alleged to have conspired and committed the offences on January 11, 2017, when they, in company of ‘’other suspects still at large’’, invaded the head office of the First Guarantee Pension Limited (FGPL) office with intent to forcefully take over the management and assets of the Pension Fund Administrator (PFA). They were also alleged to have carted away some valuables belonging to the company. Duru and Iheazor, lawyers of 28 and 30 years at the Bar, respectively, allegedly committed the offences at No. 65, Kudirat Abiola Way, Oregun, Ikeja in Lagos. Both defendants, however, pleaded not guilty to the offences. Before the arraignment for suspected criminal offences, counsel to the accused, Emeka Etiaba (SAN), had informed the court that one of his clients, Duru, was at the point of slumping in the courtroom, having just been discharged from the hospital same morning from where he was bundled to the court. But the prosecutor objected, noting that the doctor at the police hospital, where Duru was admitted, had certified him (Duru) fit. Magistrate Adefulire, after listening to both counsel, ordered the defendants to take their pleas. Thereafter, counsel to the defendants persuaded the court to grant the accused bail on self-recognition, noting that both were senior lawyers, while Duru was a former member of the House of Representatives. He added that their offences were bail-able. The prosecutor, however, objected to the bail on self-recognition insisting that they should be given sureties as they reside in Abuja, not Lagos. The magistrate granted the accused bail in the sum of N500, 000 each with one surety each in like sum. The matter was adjourned till March 9, 2017 for trial proper. Duru was arrested and detained by the police on January 13, 2017 for certain alleged offences. The seeming current crisis narrative of FGPL started on August 12, 2011, when the apex regulatory agency of pension administrator, the National Pension Commission (PenCom), took certain regulatory measures on FGPL, based on the findings of the various routine and special examinations undertaken by PenCom on the PFA in 2007, 2008, 2009, 2010 and 2011. The examinations were said to have revealed persistent breaches and flawed corporate governance practices. Indeed, the report of the special examination carried out in March 2011, among other things, allegedly indicted Chief Orlando 0. Ojo, the erstwhile Chairman of the PFA; Chidi Duru, the erstwhile Vice Chairman of FGPL, and Mr. Derrick Roper, an erstwhile director of the company, representing the interest of Novare Holdings (Pty) Ltd of South Africa, for violations of the Code of Ethics and Business Practices, the Code of Corporate Governance for Licensed Operators issued by PenCom, the provisions of the Pension Reform Act (PRA) 2004 (which was in force at that time) and other laws of the land. ‘’In view of the grave implications of the above infractions and in order to protect the pension assets, which at that time was worth over N40 billion being managed by the PFA on behalf of over 160,000 Retirement Savings Account holders, PenCom took regulatory actions on the three indicted directors by removing them from the Board of the PFA pursuant to the provision of Section 88(2) of the PRA 2004’’, the regulatory agency had stated. ‘’Furthermore, pursuant to Sections 20(i) and 21(j) of the PRA 2004 and Framework for the Resolution of Failing Operators, PenCom set-up an Interim Management Committee (IMC) to superintend over the affairs of the PFA until the shareholders convene an Emergency General Meeting (EGM) and re-constitute the PFA’s Board.’’ THISDAY findings revealed that as at today, several cases instituted following the intervention in FGPL were still pending before different courts of law, and following this the shareholders of FGPL have not been able to reconstitute the PFA’s Board. The Isa Aremu-led interim management committee set-up by PenCom, remains in charge of the management of the PFA. For now, there appears to be a deadlock regarding the resolution of the disputes among the shareholders, and between a category of the shareholders and PenCom. Legal Battles Arising from the regulatory intervention in FGPL, different suits are currently pending before the Federal High Court and the Court of Appeal respectively: an appeal filed by PenCom before the Court of Appeal against the judgement of the Federal High Court (FHC) in Derrick Roper & Anor vs. National Pension Commission & Anor. The Applicant in this case (Chidi Duru) had alleged that he was not heard before the decision

Duru, to the Economic and Financial Crimes Commission (EFCC) for investigations and appropriate action. More so, the Nigeria Police Force had also undertaken and concluded investigation as it relates to the criminal aspects of the matter, such as obtaining fake expatriate quota, forgery of signatures and diversion of FGPL’s equity capital. In this regard, one of the actors, Chidi Duru, has been arraigned by the police and standing trial before a Chief Magistrate Court in Abuja. And Duru had filed an application at the Federal High Court Abuja seeking to restrain the Nigeria Police from prosecuting him and his siblings for alleged forgery of signatures and diversion of FGPL’s equity capital. Mr. George Ozodinobi, an ex-Director of FGPL, also working in concert with Nze Chidi Duru, had written a petition to the National Assembly Committee on Public Petitions in June 2016. ‘’At the appointed day of hearing the petition, the commission appeared but the petitioners did not show up. Consequently, that stalled the hearing of the petition which appears to have been abandoned by the petitioners’’, an insider in the matter told THISDAY.

D to remove him was made by PenCom and the FHC entered judgment in his favour. This appeal is still pending. While the case was pending, the Office of the Attorney-General of the Federation, who was also a defendant in the case, filed an appeal against the decision. The two appeals have now been consolidated by the Court of Appeal. There is also an appeal filed by Chief Orlando Ojo and Nze Chidi Duru against the judgement obtained by the PenCom in a case they instituted in the Federal High Court, Lagos, challenging their removal as directors of First Guarantee Pension Limited. The Court of Appeal recently dismissed this appeal and entered judgement in favour of PenCom. They have now appealed the decision to the Supreme Court. Another case is an appeal filed by Chief Ojo and Chidi Duru against the judgement obtained by PenCom in a case they instituted in the FHC Lagos, challenging the commission’s power to set up an interim management committee for First Guarantee Pension Limited. The Court of Appeal recently dismissed this appeal and entered judgement in favour of PenCom. They have now appealed the decision to the Supreme Court. A case instituted by some shareholders of FGPL led by Alhaji Kashim Imam, against other shareholders of the PFA and the commission seeking an order to compel the commission to implement the report of the special examination of First Guarantee Pension Limited, is also pending in court. An interlocutory appeal was filed at the Court of Appeal by Counsel to Derrick Roper. The counsel had challenged the choice of procedure announced by the trial Judge to hear the substantive matter alongside the objection they filed. The Court of Appeal recently struck out the application and the Appellant’s Counsel re-filed the application and sought for extension of time to regularise the appeal processes. Both the interlocutory appeal and the substantive case are still pending. A shareholder, Alhaji Kashim Imam had applied and obtained an order from the Federal High Court, Lagos for the PFA to hold an Extraordinary General Meeting (EGM), in a suit no. FHC/L/CS/145/2012—Alhaji Kashim Ibrahim-Iman vs First Guarantee Pension Limited. The order for the EGM was set aside upon the application of Chief Ojo and Chidi Duru. The Applicant had filed and served notice of appeal against the ruling. Chidi Duru, BP Outsourcing Limited, Grand Towers Plc and Arthur Ogbulefu, representing Genoou Concept, have also filed an action against FGPL and the Corporate Affairs Commission (CAC). The action seeks to challenge the implementation of the commission’s share verification and audit review on the basis that it was an outcome of the Target Examination Report on FGPL, the use of which had been restrained by the orders of Justice D.U. Okorowo in the suit filed by Derrick Roper against the Commission at the Federal High Court. The case is still pending. THISDAY further gathered that following representations to the Attorney-General of the Federation/ Minister of Justice on the matter, the latter had referred the aspects of the report of the Special Examination of FGPL that relate to allegations of crimes against Chief Ojo and Chidi

Attempts to Resolve the Matter Insiders told THISDAY that there had been several efforts made by different parties to the cases to resolve the contentious issues. For example, the then South African High Commissioner to Nigeria, J. N. Kingsley Mamabolo, had met with the management of PenCom on October 17, 2011, and was availed with copies of the commission’s internal documents and reports, which gave him a comprehensive insight into the issues involved in the regulatory intervention in FGPL. The then High Commission had also brokered meetings between representatives of Novare Holdings and the other shareholders of FGPL with a view to resolving the disputes amongst them. This effort has not yielded any positive result. It was further gathered that in 2013, PenCom was informed that Novare Holdings Limited and some shareholders of FGPL, who are the principal parties to the other pending court cases surrounding the regulatory intervention in the PFA, were meeting to settle the issues in order to pave the way for the amicable resolution of those cases and by extension, the subject matter of the regulatory intervention. According to one of THISDAY sources who spoke in confidence,‘’There was an all-parties meeting on March 5, 2014 during which parties agreed to distinguish and segregate the issues between the shareholders inter se and between Novare Holdings (PTY) Ltd and PenCom. ‘’The interest of the directors/shareholders of FGPL was on settlement of the commercial terms. On the other hand, the issue between PenCom and Novare Holdings (PTY) Ltd was on the feasibility of granting an administrative concession and/or compromise on the regulatory concerns.’’ The source added that the position of PenCom has consistently been that it was not averse to settlement by the principal parties in FGPL provided that they concede the issues relating to the statutory powers to conduct investigation as well as accepting as valid and proper, the procedure adopted by PenCom in the Special Examination conducted in FGPL. ‘’Novare/Roper demanded at the meeting that PenCom should administratively issue to them a letter of comfort to neutralise the findings of the Target Exams against them’’, the source stated. ‘’They promised in return to concede the appeal in favour of the Commission and to also finalise the settlement of commercial terms with the other shareholders of FGPL. However, PenCom agreed to issue the Letter of Comfort on the basis of Novare’s status in the Report of the Review of Shareholding Structure of FGPL. ‘’The report indicated that Novare Holdings only made deposit on account for shares, which technically means that they were not shareholders ab initio and, therefore, ought not to have been directors of the PFA.’’ “Counsel to Novare/Roper, according to investigations, had insisted that their clients would accept only a“Letter of Comfort”, which states that PenCom has “determined that Novare Holdings (Pty) Limited and/or Derrick Roper have not been responsible for any wrongdoings, mismanagement or illegality whatsoever in relation to the affairs of First Pension Guarantee Ltd”. PenCom was said to have declined to issue a“Letter of Comfort”in this format, and consequently, the settlement talks between Novare/Roper and the other shareholders, as well as that between them and PenCom collapsed. The pending litigations therefore continued. Current State of Affairs The issues on FGPL have persisted since 2011, and have crisscrossed many bounds, from civil litigation to criminal investigations and subsequent prosecution. These cases were said to have affected the relationships between the shareholders of FGPL, the erstwhile and subsisting directors of FGPL and staff and present management of the PFA.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

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Edited by D O Email

Christmas in Jerusalem The bond between Israelis and Palestinians was evident during a pilgrimage by Onyebuchi Ezigbo

or several decades, the two brotherly nations of Israel and Palestine have been in conflict that often degenerates into full scale aggression leading to loss of lives and destruction of buildings on both sides. The root cause of the conflict can be traced to the late 19th century, with the rise of two rival nationalist movements, Zionism and Arab nationalism. While the Zionist movement campaigned for the return of the Jewish people to their home land and the subsequent establishment of the Jewish nation state in the Palestinian held area, the Palestinian Arabs were apprehensive that the coming of the Jews in large numbers will lead to dispossession of their land. With this fear, the Arab population in Palestine opposed the resettlement of the Jewish population at a place where they would exercise their right for self-determination. Perhaps what is at the centre of the conflict between the duo is nothing but land ownership struggle. However, what would most likely baffle a first-time visitor to any of the Israeli and Palestinian cities is that despite the hue and cry about the Israeli Palestinian conflict, the ordinary people from both sides of the divide still co-exist in very peaceful atmosphere. Or so it seemed. People from Israeli-controlled territory could be seen driving into the Palestinian neighborhoods and intermingling with them while Palestinians youths could be seen trooping in and out Israel where they go to work on a daily basis. They do not see each other as enemies as their governments do. The people meet each other on the road, at the markets, even in worship places and relate in a cordial manner. Perhaps, there is no other time that clearly depicts the peace and solidarity among the ordinary people in Israel and Palestine than during the Christmas festivities. As was witnessed by this writer during the 2016 Christmas celebration to mark symbolic birth of Jesus Christ in Bethlehem, the local inhabitants all were involved in the festivity one way or the other. The people were excited and fully involved in the build-up to commemoration of the birth of Jesus Christ. In almost all the places visited by Pilgrims, the ordinary share this enthusiasm and uncommon affinity with each other. While the Christian adherents pay attention to the spiritual contents of the celebration, their Arab neighbours took advantage of the huge number of visitors on pilgrimage as tourists who swarmed their vicinity to engage in brisk business, selling religious Items and souvenirs. As the Nigerian delegation to this year’s Christian Pilgrimage criss-crossed the length and breadth of the Holy Land in Israel, the feeling of oneness amongst the ordinary people could be

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felt even as evidences of is disagreement at the political level abounds. For instance, despite the closeness and perhaps cultural linkages of the Palestinians and the Israelis, the authorities there still maintain sharply opposing views about each other. They have refused to recognize each other. In addition, vehicles from both sides bore distinctive colours to differentiate them. Also one of the signs of segregation is the policy that ensures that Palestinian youths who enter Israel almost on a daily basis were subjected to screening and are not allowed to drive in cars to enter Israeli areas. As was narrated by a Palestinian Arab who volunteered an opinion on the matter, this was a policy meant to put in check the Palestinian youths from gaining access to unauthorized areas. It is therefore difﬁcult to believe that the people seen intermingling with each other and deeply involved in sharing the joy of the moment, participating in some of the activities like selling and hawking of souvenir items and decorating the streets could be the same people that the political leaders ﬁght for. Simply put, the ordinary people have nothing against each other and they seemed to be ready to live with one another as long as the issue of land ownership is amicably sorted out. In most of the Christian Holy cities

visited during the pilgrimage organized by the Nigeria Christian Pilgrims Commission, one could hardly differentiate between the Christian, Jewish, Arabs or the Moslem communities. They live together and intermingle in their daily activities without any form of religious conﬂict. In fact nothing most aptly captures the brotherly fraternity existing amongst people of various religious beliefs than a story told of a Muslim who once served as the gate-keeper to the famous Christian Temple initiated and built by King David and his famous son, King Solomon in Jerusalem. This man, a Muslim who lives within the neighbourhood was give the power to keep the keys to the Temple and to always open and close the place before a worship session. The man did the job diligently without any complain from the Christian faithful at that time. Also, some of the Christian holy sites are located within the areas dominated by Muslims yet they guard and preserve such sites as anyone would protect his prized inheritance. A Palestinian, who works as a tourist guide with one of the popular tourism management ﬁrms in Israel, Joseph Hanny, captured the situation of affairs in the troubled middle-east state. While speaking on what life is like in the area, Hanni who exhibited signs of good grasp of the history, culture and spiritual life of the people said that it

is a wrong perception to think that the people fight themselves everyday or that religion is the cause of the conflict they often have. “For me I live in Israel and we live together in peace. Our relation is very good, we sit together, we discuss our problems and a lot of the Jewish population support the peace process. They support the fact that there must be two states, Israel on the East and Palestine on the side of the West Bank. So there are different opinion held by people but the life here is very good and the relationship between the Arab and the Jewish is cordial. Both communities live in Nazareth as you can see, they live in the same street and neighbourhood.” Regarding the picture being painted in the outside world that the two sides are in conflict because of religion, Hanni said such is never the case. “Religion is not an important factor. “Muslims and Christians are not divided, Jewish and the Arab people are not divided by religion because religion is not important, what is important is the human being and what is good for them.” The Arab -born tourist guide now in his early 60s traced the genesis of the misunderstanding between Israel and Palestine to the struggle for the ownership of land in the West Bank and Gaza areas. Hanni said that the conflict between the Israelis and Palestine started since the Israeli state was launched in 1948. But there are fanatics from both sides who do not agree to that. According to Hanni, while the Jewish people among these fanatics do not agree that there will be Palestinian state within the West Bank and Gaza while those on the Palestinian side also do not want the Jews to stay because they believe that their country was already known before 1948 as far back as in 1917. He said that it was after the six days war in 1948 that the disputed areas (West Bank and Gaza) came to be under Israeli control. “That is the area of conflict, but that is political, if they allow the people to live together in peace there will be no problem at all and that is the situation”. But the peace and harmony did not come without a price as another source revealed. As a Jewish Professor in San George University and a native of small Christian community of E-labeun located between Nazareth and the Galilee Sea, Ramez Eid affirmed, one measure taken by the government to stem religious extremism was to outlaw out-door preaching and religious activities in all the neighbourhoods. Prof. Eid explained that the policy has not only discouraged religious fanaticism, but also ensured that everyone comports himself or herself accepting to co-exist within the confines of the law. “We have in place a law that prohibits public preaching by all religious groups. This has kind of protected one religion from the other and I think that it has greatly reduced inter religious clashes. Preaching is only permitted to be conducted within the churches and on a person to person basis not in the public glare. We do not have clashes between the different religions, Moslem, Christians and the Jewish in Galilee”. From what has been observed during the pilgrimage, the people have accepted to live in peace and have adjusted to the idea of a multi-religious society. The good news here is that the ordinary people in these areas are leaving together in peace and are ready maintain their historical affinity, despite disagreements at the government and political levels.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 2992017

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Driving the Economy with Tourism At the recently-concluded World Travel Market in London, United Kingdom, a London-based African Market Tourism CEO, Ben Omoakin-Oguntala, spoke with Funke Olaode, on why Nigeria needs to join the global train of tourism

he early morning winter which blew relentlessly welcomed this reporter to the meeting point with Ben OmoakinOguntala. Oguntala is a tourism promoter and advocate of good life for the less privileged. He is the CEO of African Market Tourism, a platform in which he wants to promote local tourism. With recession facing many countries and the dip in oil prices, many countries now gravitate towards tourism to boost its economy and he wants his community to join the train. For Oguntala, charity they say begins at home and in his new foray, he wants to embark on local tourism through Ode Remo Development Project. Throwing more light on what it entails, he said it is about starting a development job in the community of Ode-Remo based on an initiative being put together by the African Natural Rulers, founded by Oloni of Eti Oni, Oba Dokun Thompson. It is an initiative to bring development to rural areas in Africa. Ode Remo is just one of the pilots..“What we want to do is to convert all the Ode-Remo (my home town) natural assets into a platform where commerce and trade is promoted, which I believe in the long run will boost the local community economy. At the end of the exercise, I am sure 10,000 jobs will be created. For instance, we are going to showcase agricultural raw materials from the land to various unique attributes of Ode Remo that is of interest to other communities. How do we intend to create 10,000 jobs? The idea is that when we identify 500 raw materials, we will create development projects out of them. We are proposing an errand project that will involve Ode Remo citizens in the Diaspora. We are creating about 500 online businesses and will use technology to get it stationed at Ode Remo. If this project is successful, the Ogun citizens in the Diaspora will engage the locals in Ode Remo to start the services. It means money is transferred to errand services if you need any help within the community. Also, we are starting a project called ‘Virtual Doctor.’ It is a kind of tele-medicine services where members of the international community would provide medical assistance via tele-conferencing. Ode Remo will start by having the largest concentration of medical doctors by providing medical assistance for the locals. For instance, international medical personnel who want to render a service need somebody to monitor it. So, youths are engaged in the process using the internet facilities.” Speaking further on how he intends to set up a technology training centre for the project,“One of the colleges in Ode Remo, Sapade Secondary school is being considered as a training ground. If we turn a school to a resource centre that will host a training centre for the project, it will be sustainable. We intend to train the people and give

O them time to acclimatise to what is coming. Again, you cannot do that in isolation – we want to do it with trade. For instance, if I am going to start my business in Ode Remo, I will have a payment service that can allow people to make payment online. In the process, I will become a payment consultant, which means 50 payment consultants exist in Ode Remo, every single trade that needs my services I will make it available to them.” Abeokuta is renowned for its tourist attractions in Nigeria, like the Olumo rocks and other recognised national festivals. Oguntala says the new initiative is not to outshine the already known destinations. “The aim is not to outshine the existing tourism projects. As far as I am concerned, tourism can be initiated from any part of Nigeria and not Ogun State alone. Ode Remo is just one of the communities. In this case, there are many Ode Remo citizens outside the community who are interested in what is going on and they believe they can bring about financial traffic. If we can generate commercial traffic that can generate financial gain, it is for the benefit of the community. The immediate and future gain of this initiative is to attract traffic to Ode Remo and similar communities in Nigeria. In Atlanta, for instance, we have people who are from Sagamu and want to take part in this project. About 30 doctors have volunteered to provide medical services on this

P2222O222222T22 N222 222FG2S22222222222’ D2222222 \Low Tariff, Huge Debt Overhang Investors in the power sector had hoped, as part of their business model, to seek what they consider appropriate pricing for electricity supply to consumer. Relief came their way in February 2016, when the government, through the National Electricity Regulatory Commission, NERC, launched the multiyear tariff system, which pegged tariff at a minimum of N20.26/KW and a maximum of N28.05/KW. Yet, owing to a multiplicity of factors, the electricity distribution companies, or DISCOs, have continued to push and campaigned for an increase in tariff that would make their businesses sustainable. In July 2016, the NERC raised the maximum charges to N50/KW. But its decision was overruled by the senate which ordered it to revert to the status quo. The upward review also earned the angst of consumers who challenged the new tariff regime in court. In the end, the government retained the original prices. Right now, the respective power companies have resorted to charging different tariffs to stay aﬂoat. For instance, in Kaduna, where the tariff is adjudged the highest, the rates are between N27.36 and N28.05. In Lagos, the country’s economic

capital, which is served by Ikeja DISCO and Eko DISCO, the rates are N21.30 and N21.80 for Ikeja, and N24.00 and 25.79 for Eko. But the DISCOs say it is an enormous struggle to do business with the current rates, which are “not defined by market realities”. An operator in a northern Nigerian DISCO says by forcing the DISCOs to bill a fixed amount, irrespective of demand and cost of distribution and maintenance is causing a loss to operators. According to him, the development“has created a tremendous shortfall in the system; it’s up to N500billion naira. If the regulators don’t do something urgently about the situation, they may cause a reversal of the progress made so far,” he said. Others in other regions also agree with him and attempt to situate the huge problems on ground. In Lagos, some DISCO officials explain how this current system may not work in the long term: “For constant power supply to be achieved, certain investments are being made,” said one. “For instance, there were serious challenges with metering and equipment before the DISCOs were brought in. That’s one. Two, electricity consumers expect an improvement in the services now that we say the sector has been privatised. DISCOs

platform. It means that Ode Remo will have the highest concentration of qualified international medical doctors providing medical services for locals. What it means is that my organisation is going to provide a centre where people will converge for this medical assistance. The Alaye of Ode Remo is providing a hub where the project will be flagged off. There will be a local medical practitioner who will work with the international medical personnel. Tele-medicine is already being used in many African countries,”he assured Is the project going to be a public-private partnership? “The project is privately funded. The idea is that if you are an indigene of Ogun State in the Diaspora, whatever service you want to render in Ode Remo, we will provide the enabling environment and the local resources to execute the project. It is privately funded at the moment. We have professionals who have put their resources together. For instance, a group wants to start a microfinance bank in Ode Remo and then builds it up from there. If you are starting a development project and looking for a fund from an external sources it doesn’t go far.” While many projects have failed woefully due to lack of planning and environmental factors, Oguntala promised that the Ode Remo Development project is achievable because one of the concepts of the The African Natural Rulers is

embedded around the traditional rulers.“Natural rulers last longer than government and they are closer to the community and this kind of project that will be of interest to the rural communities. So, it is an initiative that is revolved around Kabiyesi. The purpose of this new initiative is to promote local tourism. Oguntala highlights some of tourism opportunities that Ode Remo can benefit from. “Apart from medical tourism and natural resources that are being promoted, there are other opportunities. As Oba Dokun Thompson always says, there are two or three things that make Nigerians move from one place to another: religion, party, and cultural activities. A lot of people move to different parts of the country either to visit relations, for parties or religion. All these are tourism. What we want to do as a body is to look at every street in Ode Remo and create a digital road map, which means you are able to navigate the area. There are other good things about Ode Remo that you can discover on your phone. By providing that digital concept it means you have knowledge about what Ode Remo has to offer. Again, there are abandoned houses in the community that people don’t use anymore. We can convert them to places of hospitality; somewhere people can lodge – that will draw traffic to the town. It doesn’t have to be a five-star hotel. In terms of medical tourism, provision of services that have never existed in any part of Nigeria will become a reality. I have 50 medical doctors in the US that are ready to work (in Ode Remo). The question is that, are there people who need medical help? The answer is yes. And as long as such people exist, the project will sustain itself. Likewise, as long as raw materials are available and people are willing to trade, the project will continue. We believe in private sector initiative and we will copy Aliko Dangote’s principle (which says trade thrives in the hands of private sector). My aim is to inject change, because if you create an environment that promotes trade and employment it will alleviate poverty.” Commenting on how tourism can boost economic development in Nigeria, Oguntala says until Nigeria understands her tourism potential and stop pain lip service.“I understand Calabar is one of the tourist hubs of Nigeria. How many people have been to Calabar? The problem is that we don’t know ourselves and our tourism potential. Going forward, I will suggest that all these tourist sites should be documented online so that those who are far away can explore the tourist resources in Nigeria without being there physically. To get to many places in Nigeria you have to go by road. There is security challenge. I will suggest that tourism should be brought online for the outside world to see. Even if it is subscription service alone Nigeria will make money,” he concluded.

C222’2 2222 P2222 want to make sure they do the best in the areas where they operate but you can’t do your best if you’re barely surviving.” Elumelu said his power company alone is owed several billions of naira. “We are owed a lot of money, Transcorp Power is owed almost N50 billion, by the time we put in the invoice for this month, it will be almost N55 billion. How do you survive in this type of situation? “The truth is Transcorp Power as a key operator in the sector is struggling and if we are struggling, you can imagine what other operators are going through. There is a lot of debt being owed to us. Liquidity is an issue and there is gas vandalism, of course you will not blame government so much because there is a lot of vandalism going on. The Nigerian Electricity Supply Industry operational (NESI), on January 3, disclosed that over N534 billion of revenue was lost by the power sector in 2016. Among the reasons for the loss are shortages in gas supply, frequency and line limitations and water levels management constraints that led to several cases of electricity outage in the country. NESI, which put the average daily revenue loss at N1.5 billion, said gas constraint remained one

of the major challenges facing the electricity sector. It explained that the N534 billion amounts to the value of electricity lost on account of the challenges, part of which could have been used to bridge the liquidity gap in the power sector, estimated at N1trillion. Already, the sector is finding it difficult to access more loans from Nigerian banks due to their inability to meet the payment obligations for previous debts. “The situation will also affect the capacity of the power firms to improve on electricity supply to consumers for domestic and industrial uses,” it stated. NESI said in its daily statistics on energy losses that the industry lost N1.525 billion on December 24, 2016 alone. It also disclosed that about 12 power stations could not produce electricity during off-peak period under the review. Statistics from the National Control Centre, Osogbo showed that Afam IV-V, Geregu Gas, Alaoji National Integrated Power Project, Olorunsogo Gas, Odukpani NIPP, Okpai, Ibom Power, ASCO, AES, Omoku, Rivers NIPP and Gbarain power plants could not produce a single megawatt on December 25, 2016. 2222 2222222222 222222 2222222222222222222 2

T H I S D AY T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

NIGERIA’S TOP 50 STOCKS BASED ON MARKET FUNDAMENTALS

Guaranty Trust Bank Plc: Remarkable third quarter performance points ahead

’ ’ ’ ’ ’ ’ ’ T’ ’ ’ ’ B’ ’ ’ P’’ ’ GT B’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ N’’ ’ ’ ’’ ’ W’ ’ ’ A’ ’ ’’ ’ ’ ’ ’ ’ E’ ’ ’ ’ ’ ’ T’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ T’ ’ B’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ fi’ ’ ’ ’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’’ TOP-LINE EARNINGS ROSE SIGNIFICANT AMID ECONOMIC SITUATIONS G’ ’ ’ ’ ’ ’ ’ T’ ’ ’ ’ B’ ’ ’ P’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’fi’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ I’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ T’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ B’ ’ ’ ’ ’ C’ ’ ’ R’ ’ ’ ’ ’ ’ R’ ’ ’’ ’ CRR’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ GT B’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ E’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ OTHER INCOME AND FEES EARNED LEADS TO SIGNIFICANT GROWTH IN NON-INTEREST INCOME T’ ’ B’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ fl’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ T’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’

WHILE THIS POLICY AIMED AT CONTROLLING MONETARY LIQUIDITY IN THE ECONOMY FORESHADOWS HUGE NEGATIVE IMPACT ON THE BANKS’ OPERATIONS’ THE BANK’S MANAGEMENT IS CAPABLE OF INCREASING PERFORMANCE THAT WILL FURTHER STRENGTHEN EARNINGS’ INCOME GENERATION CAPACITY AND GROWTH IN LIQUIDITY BASE

’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ C’ ’ ’ ’’ ’ ’’ ’ ’ ’ T’ ’ ’ ’ ’ ’ ’ ’ COT’ ’ ’ ’ ’ ’ CBN’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’fi’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ A’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ fi’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’fi’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ IMPRESSIVE GROWTH IN PROFITABILITY ON THE BACK OF EFFICIENTLY MANAGED OPERATING EXPENSES T’ ’ B’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ffi’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ GT B’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ T’ ’ B’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ff’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ fi’ ’ ’ ’’’’ ’ ’ D’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ B’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ fi’ ’ ’ ’ ’ ’ ft’ ’ ’ ’ ’ ’ ’ T’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ffi’ ’’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’

’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ B’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ T’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ffi’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ fi’ ’ ’ ’’’’ ’ ’ ’’ ’ ’ ’ ’ T’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ fi’ ’ ’ ’ ’ ’ ’’ ’ ’fi’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ IMPROVEMENT IN ASSET QUALITY AND KEY FINANCIAL METRICS GT B’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ffi’ ’’ ’ ’ ’ ’ P’ ’ ’ ’ ’ ’ ’ ’ ’ fi’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’’ ’ ’ ’ ’’’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ I’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ B’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’’ ’ ’ ’ ’ ’’ ’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ A’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ B’ ’ ’ ’ ’’’ ’ ’’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ I’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ NPL’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ F’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ B’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’’ D’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ T’ ’ B’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ R’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ROA’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ D’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ROE’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ HOLD RECOMMENDATION DESPITE BRIGHT OUTLOOK T’ ’ CBN’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’’’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ N’’ ’ ’ ’’ ’ fi’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ T’ ’ CBN ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ CRR ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’’ ’ ’ ’ ’ ’ ’ N’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ D’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ fl’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’

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’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ MPR ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ CRR ’ ’ ’ ’’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ GT B’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ W’ ’’’ ’ ’ ’’ ’ ’ ’’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ B’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ W’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ﬁ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ D’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ EPS ’ ’ N’ ’’ ’ ’ U’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’’ ’’ ’ PE’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ N’ ’ ’’ ’ ’ S’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ N’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ BUY’

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

NIGERIA’S TOP 50 STOCKS BASED ON MARKET FUNDAMENTALS

National Salt Company of Nigeria Plc: Increased activity in West and North of Nigeria boost revenue

’ ’ ’’ ’ ’ ’ S’ ’’ C’ ’ ’ ’ ’ ’ ’ ’ N’’ ’ ’ ’’ P’’ ’NASCON’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ T’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ D’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ D’ ’ ’ ’ ’ ’ S’ ’’ ’ ’ I’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ D’ ’ ’ ’ ’ ’ I’ ’ ’ ’ ’ ’ ’’ ’ L’’ ’’ ’ ’ ’DIL’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’’ ’ ’’ ’ ’ ’’ ’ ’ ’ D’ ’ ’ ’ ’ ’ S’ ’’ ’ L’’ ’’ ’ ’ ’ ’ ’’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’’’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ NASCON’ I’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ DIL’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ C’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ NASCON ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ D’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ E’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’’ ’’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’’ ’ T’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’’ U’ ’’ ’ D’’ ’ ’ S’ ’’ P’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ GROWTH IN REVENUE ON THE BACK OF CORE BUSINESSES NASCON’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ T’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ S’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ I’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ T’ ’ C’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ C’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ T’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ E’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’’

ALSO THE STRONG LIQUIDITY POSITION OF THE BANK AND POTENTIAL PROFITABILITY FROM INCREASED FOCUS ON LENDING WOULD CUSHION THE EFFECT OF THE LIQUIDITY WITHDRAWALS ON THE PERFORMANCE OF STERLING BANK.

GROWTH IN OPERATIONAL COSTIMPACTS ON PROFITABILITY T’ ’ C’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’’ ’ ’ ’ ’’’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ – ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’’ ’ ’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ T’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ M’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ C’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ I’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’ S’’ ’’’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ D’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’ NASCON ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ N’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ KEY FINANCIAL RATIOS REFLECTS IMPROVED PERFORMANCE T’ ’ C’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’’’’ ’’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’

’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ T’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’’’ ’ ’’’’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ N’ ’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ N’ ’’ ’ ’ ’’’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ F’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ROAE’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ROAA’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ T’ ’ C’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ – ’ ’ ’’ ’ ’ ’’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ S’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ NASCON’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’’ ’ ’ ’ ’ ’’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’

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MARKET NEWS

PZ Cussons Declares N33bn Revenue, RecordsÂ Loss Â of N288 million G E PZ Cussons Nigeria Plc at the weekendÂ Â announced a revenue of N33.302 billion for the half year ended November 30, 2016, showing an increase of 8.7 per cent from N30.619Â billion in 2015. Operating profit stood at N4.346 billion, indicating a jump of 228 per cent compared with N1.322 billion the corresponding period of 2015. However, the company ended the H1 with a loss

of Â N288 million as against aÂ profit of N779 million in 2015. The company explained in a filing to the Nigerian Stock Exchange (NSE) that the H1 was impacted by adverse movement in foreign exchange rate amounting to a loss of N4.9 billion. Should the company record loss in the remaining half of the current financial year, it may Â end up not paying a dividend.Â The company last year paid a total dividend of N1.99 billion for the year ended

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these â&#x20AC;&#x2DC;sharesâ&#x20AC;&#x2122; on the

May 31, 2016, which translated other unfavourable variables limited the optimal performance to 50 kobo per share. Addressing shareholders of the company. Jamodu disclosedÂ the at the annual general meeting (AGM), Chairman ofÂ PZ company recorded an exchange Cussons, Chief Â KolawoleÂ Â loss of N2.9 billion, cutting its Jamodu said despite the group profit after tax (PBT) by deteriorating operating 52 per cent to N3.15 billion from environment, the company N6.56 billion in 2015 while its had remained focused and consolidated revenue decreased managed to deliver a steady by 4.9 percent to N69.5 billion performance for the period to from N73.1 billion. However, the chairman grow shareholder value. According to him, said: â&#x20AC;&#x153;Improved planning notwithstanding,Â the present and execution in supply chain exchange rate crisis among and targeted investments in

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 26-Jan-2017, unless otherwise stated.

key brands helped to limit the negative impact of the scarcity of foreign currency and other adverse effects.â&#x20AC;? He said in the overall assessment, the company â&#x20AC;&#x153;did well to hold its position in the market, reducing the negative impact of the prevailing adverse conditions and performing satisfactorily against peers in the sector.â&#x20AC;? He said there are future prospects for the company given that the presently economic predicament is transient.

â&#x20AC;?We regard current economic challenges as transitory and we remain excited about the future of the company. Our confidence has been emboldened by positive policy changes being adopted by the government such as the new foreign exchange regime that has been introduced by the Central Bank of Nigeria. Our brands remain strong and popular with consumers, which leaves us well placed to hold our market and exploit any emerging opportunities,â&#x20AC;? Jamodu said.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS 3 UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Afrinvest Equity Fund 131.37 Nigeria International Debt Fund 219.07 ALTERNATIVE CAPITAL PARTNERS LTD Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price ACAP Canary Growth Fund 0.70 AIICO CAPITAL LTD Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price AIICO Money Market Fund ARM INVESTMENT MANAGERS LTD Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name ARM Aggressive Growth Fund ARM Discovery Fund ARM Ethical Fund ARM Money Market Fund AXA MANSARD INVESTMENTS LIMITED Web: www.axamansard.com; Tel: +2341-4488482 Fund Name AXA Mansard Equity Income Fund AXA Mansard Money Market Fund CHAPELHILL DENHAM MANAGEMENT LTD Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Nigeria Global Investment Fund Paramount Equity Fund Women's Investment Fund FBN CAPITAL ASSET MANAGEMENT LTD Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name FBN Fixed Income Fund FBN Heritage Fund FBN Money Market Fund FBN Nigeria Eurobond (USD) Fund - Institutional FBN Nigeria Eurobond (USD) Fund - Retail FBN Nigeria Smart Beta Equity Fund

100.00

aaml@afrinvest.com Offer Price Yield / T-Rtn 131.41 3.25% 219.17 1.64% info@acapng.com Offer Price Yield / T-Rtn 0.70 -0.49% ammf@aiicocapital.com Offer Price

Yield / T-Rtn

100.00

17.67%

enquiries@arminvestmentcenter.com Bid Price 12.52 289.85 22.37

Offer Price 12.90 298.59 23.05

Yield / T-Rtn 1.39% 0.93% 0.14%

1.00

17.11%

investmentcare@axamansard.com Bid Price 106.25

Offer Price 107.12

Yield / T-Rtn 1.17%

1.00 1.00 16.58% investmentmanagement@chapelhilldenham.com Bid Price 2.15 9.44 84.74

Offer Price Yield / T-Rtn 2.20 -1.14% 9.68 0.84% 86.91 0.17% invest@fbnquest.com

Bid Price 1,096.93 111.21 100.00 $104.29 $103.52

Offer Price 1,098.16 111.98 100.00 $104.52 $103.74

Yield / T-Rtn 0.60% -0.33% 15.18% 0.01% -0.05%

114.81

116.36

1.92%

FIRST CITY ASSET MANAGEMENT LTD Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Legacy Equity Fund 0.95 Legacy Short Maturity (NGN) Fund 2.60 FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Coral Growth Fund 2,188.74 Coral Income Fund 2,132.36 INVESTMENT ONE FUNDS MANAGEMENT LTD Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Abacus Money Market Fund 1.00 Vantage Balanced Fund 1.69 Vantage Guaranteed Income Fund 1.00

fcamhelpdesk@fcmb.com

LOTUS CAPITAL LTD ďŹ ncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.01 1.02 0.80% Lotus Halal Fixed Income Fund 1,018.02 1,018.02 0.64% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 9.88 9.96 2.27% Meristem Money Market Fund 10.00 10.00 14.65% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.06 1.07 0.38% PACAM Fixed Income Fund 10.38 10.55 0.42% PACAM Money Market Fund 10.00 10.00 11.56% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 110.62 111.50 2.21% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.25 1.25 0.74% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 1,817.05 1,827.83 -0.76% Stanbic IBTC Bond Fund 151.94 151.94 -1.31% Stanbic IBTC Ethical Fund 0.76 0.77 -0.65% Stanbic IBTC Guaranteed Investment Fund 187.43 187.43 0.29% Stanbic IBTC Iman Fund 130.44 132.20 0.50% Stanbic IBTC Money Market Fund 100.00 100.00 17.53% Stanbic IBTC Nigerian Equity Fund 7,511.48 7,616.22 -0.83% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.15 1.16 10.75% United Capital Bond Fund 1.25 1.25 19.49% United Capital Equity Fund 0.63 0.64 -6.18% United Capital Money Market Fund 1.00 1.00 13.00% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 9.89 10.06 2.68% Zenith Ethical Fund 11.21 11.35 2.87% Zenith Income Fund 16.89 16.89 2.23%

REITS Offer Price Yield / T-Rtn 0.97 2.13% 2.60 1.01% coralfunds@fsdhgroup.com Offer Price Yield / T-Rtn 2,214.17 -0.93% 2,132.36 1.34% enquiries@investment-one.com Offer Price 1.00 1.71 1.00

Yield / T-Rtn 16.72% 0.75% 15.66%

NAV Per Share

Yield / T-Rtn

11.41 124.10

1.01% 0.10%

Bid Price

Offer Price

Yield / T-Rtn

8.30 74.64

8.40 76.04

-5.44% -1.50%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva GrifďŹ n 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

2.44 5.66 11.77 13.83 131.04

2.48 5.74 11.87 14.03 133.04

-11.07% -19.38% -1.89% -13.21% 0.89%

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund managerâ&#x20AC;&#x2122;s website and FMANâ&#x20AC;&#x2122;s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

WEEKLY PULL-OUT

PRETTY OKAFOR GETTING PMAN TO WORK FOR ARTISTES

29 01 2017

T H I S DAY, T H E S U N DAY N E W S PA P E R Ëž Í°Íˇ, Í°ÍŽÍŻÍľ

COVER

PRETTY OKAFOR

GETTING PMAN TO WORK FOR ARTISTES Pretty Okafor, President, Performing Musicians Employers Association of Nigerian (PMAN), says he is on the verge of unlocking a gold mine of wealth for Nigerian musicians; and indeed anyone in the creative industry, through a scheme that ensures automatic payment when their work is used. He spoke with Nseobong Okon-Ekong and Yinka Olatunbosun

I TRAVELLED TO BARBADOS AS WELL AS TRINIDAD AND TOBAGO AND I FOUND OUT THAT THEY BUY NIGERIAN MUSIC A LOT. THEIR GOVERNMENT COLLECTS TAXES ON THE NIGERIAN MUSIC THAT THE CITIZENS BUY. BUT IN NIGERIA, OUR GOVERNMENT DOES NOT COLLECT TAX OR ROYALTY BECAUSE THEY DONâ&#x20AC;&#x2122;T KNOW HOW TO GO ABOUT IT

ost people think he goes by his stage name everywhere. Unknown to them, Pretty is actually his real name. It was not easy to find an English equivalent of the Igbo version, Mmachukwu (the beauty of God). Beauty would have sufficed, but his mother thought it would point to a woman. She opted for Pretty, which she considered modest and not capable of raising wrong insinuations. Pretty Okafor and his music partner, Junior who were known as Junior and Pretty would go on to make modest achievements on the Nigerian entertainment scene, becoming one of the pioneer rap artistes in Nigeria with the era-shaping album, â&#x20AC;&#x2DC;Monicaâ&#x20AC;&#x2122;. They set the pace in comical rap artistry but the laughter seemed to have ended for their numerous fans when Junior passed on. Although, Juniorâ&#x20AC;&#x2122;s demise set Pretty back emotionally, a great deal, he pulled himself back from the brink to pursue a full and engaging life. Growing up with Junior, his untimely exit left a vacuum that is yet to be filled. Pretty became uncomfortable with the people they were working with and the society at large. He couldnâ&#x20AC;&#x2122;t bring himself to drop an album. Being an introvert, every time he tried to sing in a studio, he felt something was not right. Somehow, he knew he had to go out to meet people. He could not remain a recluse forever. He has since resolved to go back to the studio and do a lot of remixes of the older songs and bar code them. He plans to get some younger artistes to jump on some songs, in order to breathe fresh air into them. Meanwhile, Pretty went on to a very exhilarating period in the corporate event promotion world. Following his partnerâ&#x20AC;&#x2122;s death, he resigned his appointment from the company where he was the operations manager. He was not married at the time, but he felt he had to take care of his late friendâ&#x20AC;&#x2122;s wife and three children. He set up shop and launched himself into business. Today, he runs three successful companies under the name, Pretty Boy Entertainment, including one of the biggest sound system procurement and leasing companies, an events company and a logistics company. From producing shows and concerts, his colleagues sort him out and persuaded him to assume leadership of the Performing Musicians Employers Association of Nigeria (PMAN). That may seem ironical as he hadnâ&#x20AC;&#x2122;t physically performed on stage since Junior died. His performance only took a geographical turn-backstage, making behind- the- scenes impacts. Since he came on board as PMAN President, Pretty pursued a single agendum. To him, nothing else matters if a musician is not able to create sustainable wealth from his works. In the past few years, he has devoted himself to a campaign to create structures that will transform the living condition of Nigerian artistes. From a study that he

commissioned a consortium of Nigerian companies, it was discovered that Nigerian music is number one in Africa and number three in the world. Nigerian entertainment industry is worth about N9 billion. That mouth-watering revelation was received when we met Pretty, tucked in a corner of a fast food outlet along the well-lit aisle inside the Ikeja City Mall. â&#x20AC;&#x153;I travelled to Barbados as well as Trinidad and Tobago and I found out that they buy Nigerian music a lot. Their government collects taxes on the Nigerian music that the citizens buy. But in Nigeria, our government does not collect tax or royalty because they donâ&#x20AC;&#x2122;t know how to go about it.â&#x20AC;? A widely travelled person, Pretty has witnessed first-hand, how the economy of certain countries abroad are sustained through the entertainment industry. Today, many free download sites are forced to shut down or redirect their culprits to another site where viruses accompany illegal downloads. In the end, it is more economical to purchase the creative works than to steal them. It set him thinking this can be replicated in Nigeria. As soon as the opportunity came through his elevation as President of PMAN, he began to engage relevant corporate bodies with several convincing presentations loaded with facts and figures. It took repeated knocking on their doors. And Pretty preaches it as a gospel. Thankfully, a lot of them have started paying attention to the industry. â&#x20AC;&#x153;The statistics and the research we did are accurate. We can actually raise between N1516 billion every year. There will be a lot of tax coming to the federal and state governments. The banks got excited; the corporate organizations got excited and the research organizations too got involved and they realized that there hasnâ&#x20AC;&#x2122;t been any monitoring scheme in place. I will give you an example. In 2015, I said it on Channels Television that Nigeria has already gone into recession. It was in the last quarter of 2016 that government admitted that we are in recession. The only way that the country can get out of recession is when we put in place and operate a credible structure that promotes and sustains a creative economy. I am referring to all the royalties earned from intellectual property.â&#x20AC;? Though we were tucked into a corner with Pretty, that was not the reason we were not overwhelmed by excited fans. Pretty may be the arrowhead of the musiciansâ&#x20AC;&#x2122; body in Nigeria, but his face is likely to be lost in a crowd. To be sure, he enjoys the obscurity. Often, he uses himself as an example in his homily as he goes around the country, canvassing support from musicians for the wealth creation cum welfare scheme that would not only take them out of the woods, but ensure they live a modest live till they pass. â&#x20AC;&#x153;The active live of a musician when he is famous and much sort after is about four years. After that, society is hungry and ready for the next star who will create a new round of excitement. This is what I have been telling my

Contâ&#x20AC;&#x2122;d on pg. 57

JANUARY 29 2017 ˾ T H I S DAY, T H E S U N DAY N E W S PA P E R

COVER colleagues. Remember that PMAN had been moribund for over 15 years before we became executives. I had to do a lot of work, a lot of mass mobilization, campaign and communication to redirect the association, corporate bodies and individual musicians. You are working with artistes who are spread across the country in 36 states and the Federal Capital Territory, there is a lot of funding needed to reach five million members. We have talked about how to use the biometrics card to get loan. Not up to one thousand artistes have the biometrics card because we are yet to launch it. It was released last year, in the first quarter. All PMAN executives have the card. We had it before the last PMAN elections. It was because of this work that I was voted to remain as PMAN president. I wasn’t going to come back. I wanted to face my business. I own a marketing communications firm, events technology firm and an event leasing firm. I am doing a whole lot in entertainment. We are working with the Central Bank of Nigeria, Nigeria Interbank Settlement System, Heritage Bank, Union Bank, Airtel and Hogg Robinson. If any artiste is critically ill, he can be airborne within 12 hours to any part of the world. The family of the ailing artist also gets N5million from Hogg Robinson. We started this in 2014. We don’t have to go begging for anyone to contribute for an artiste who is ill.” “Luckily for us, the younger generation of artistes have bought into the concept and it has become a lifestyle. We made the structure look like the normal day-today activity. It is something that can be done using a smart-phone. It is nothing extraordinary. You can do the registration using your smart-phone. You can go to the bank to make your payment and you can also pay through your phone. You will automatically get all your benefits. Around the world, we have the same structure running. It includes a pension plan, welfare, life insurance, bar coding and encoding of IP. As persons in the creative industry, we are known as the informal sector by the banks. Because of this, we don’t have access to funding. But the card we have introduced is connected to your BVN, that is all your accounts, it is your collateral to have access to bank funding. A lot of people say this is Nigeria, it is never going to work. I don’t believe that. It is working. Some artistes have been getting their royalty. What we have done is to globalize the creative industry in Nigeria. If you go to South Africa, all their CDs are bar coded. But you can never see any CD that is bar coded in Nigeria.” Much of what he is doing as President of PMAN comes from his ability to stay the course in the music industry. “I am active. I have been a producer of concerts. I have been producing road shows. I have not been on stage since Junior died 12 years ago. I have been interested in the welfare of artistes long before I stopped performing. When Junior was alive, we talked about getting our career back on track. When we released ‘Monica’, our first album, we didn’t get our royalties from Premier Music. That was when Junior and I would go on the streets and chase pirates. We would take our works from them. We would go to Alaba Market. We were frustrating them. We made money from concerts and events management. We performed in South Africa and UK with

the help of Red14. They were the ones nd Hedges Golden managing the Benson and Tones Concert.” rturbed by y the Pretty is not at all perturbed oluntarily y release naivety of artistes who voluntarily nload. “Once your y their music for free download. songs are automatically bar coded and here’s a key y on it so encoded, it goes viral. There’s ded, you y will get g every time it is downloaded, paid. Some pirates don’tt want the structure ndustry y to work.” that can reorganize the industry titudes are not Such retrogressive attitudes p y to be found only among pirates only. g Unfortunately, some of his colleagues are gs in the wheel g hell bent on throwing cogs y PMAN is of progress. This explainss why h itself. “I think permanently at war with bborn in nature; as musicians, we are stubborn ecause no PMAN coupled with poverty, because yalties in the past y p member had received royalties tence. They y don’t 35 years of PMAN’s existence. have any other means off survival. PMAN nd. Whatever was like a means to an end. y they got were not properr royalties. That is not what can make an artiste become a g about getting g g billionaire. We are talking tive works; the money from sale of creative um is sold and the number of times the album copies sold worldwide. The older ones don’t understand what we are trying to do. y Boy y and d You can put a call to Charly Daniel Wilson, they will understand ened. But the because they are enlightened. much older ones don’t understand. They want a union that can move ing g for them. m. from table-to-table, begging sociation I That is not the kind of association n the kind want to run. I want to run cians can of standard where musicians afford a house on Bananaa Island.” w Pretty does not share the view nal that the exit of international m recording companies from Nigeria in the 90s is the reason They for mainstream piracy. “They ’t left because they couldn’t ent make return on investment come and the structure had become ause so porous. They left because g on Nigerians started buying ying y g the streets instead of buying hased from the shops. Pirates chased ouldn’t them away since they couldn’t ted in recoup the money invested the musicians. They weree not making sales anymore. This same king g about is the structure that we are talking g them back. You only thing that can bring es with this new can track and collate sales system of bar coding. Wee are one of the dustry y in the world biggest entertainment industry usic is played because our brand of music around the world.” etty y has to deal One gridlock that Pretty hy y of artistes with is the general apathy oomed under to this new structure. Groomed ny y artistes still the regime of piracy, many believe that the system will fail. For Pretty, y it is never-say- never for a system that eing g eternally y will save artistes from being oblivious to their album sales and end gg g for huge g the shame of perpetual begging he general g p medical expenses from the public. ell-accomplished p When you read about well-accomplished s, their album musicians in other climes, ential part p of their sales and ratings are essential ven the top p flying y g history. In Nigeria, not even umentation of their artistes have proper documentation is technologicallyg y album sales. But with this g y to enabled tracking system,, it is goodbye y the era of poor musicianss and family. With Pretty’s wealth creation and welfare campaign, even a dead artiste is assured his due.

WE ARE WORKING WITH THE CENTRAL BANK ANK EMENT OF NIGERIA, NIGERIA INTERBANK SETTLEMENT A SYSTEM, HERITAGE BANK, UNION BANK, AIRTEL S AND HOGG ROBINSON. IF ANY ARTISTE IS THIN 12 CRITICALLY ILL, HE CAN BE AIRBORNE WITHIN HOURS TO ANY PART OF THE WORLD. THE FAMILY LION OF THE AILING ARTIST ALSO GETS N5MILLION HIS S IN 2014. FROM HOGG ROBINSON. WE STARTED THIS NYONE TO WE DON’T HAVE TO GO BEGGING FOR ANYONE L CONTRIBUTE FOR AN ARTISTE WHO IS ILL

T H I S D AY T H E S U N D AY N E W S PA P E R ˾ JANUARY 2972017

ENTERTAINMENT

WITH NSEOBONG OKON-EKONG 08114495324

A 76

A Scream, Gunshot, Running Feet… V O

his is the opening sequence of the highly lauded military thriller, ‘76. In recent times, Nollywood has made remarkable recourse to Nigerian history. There was Biyi Bandele’s ‘Half of a Yellow Sun’, an adaptation of Chimamanda Adichie’s novel of the same title which is set against the background of the Nigerian Civil War; Kunle Afolayan’s ‘October 1’ and its Independence Day trappings; and Lancelot Imaseun’s ‘Invasion 1897’, a long heralded chronicle of events leading to the fall of Oba Ovonramwen of the ancient Benin kingdom. These movies have done incredibly well by focusing historical events that have long been dismissed from the classrooms. Through the medium of motion picture, these events are relived and re-established in our memory. Despite their little shortcomings, credence must be given to the storytellers for their bravery. N ‘76 Izu Ojukwu’s military thriller is one-of-akind movie. Early 2016, the producers, director and members of the cast teased selected members of the press with few clips of the movie at Four Points by Sheraton Hotel, Victoria Island, Lagos. The reception was impressive despite the short teaser. An air of anticipation filled the room instantly after the reel ended. Online buzz and the movie trailer added to the frenzied atmosphere. The expectation was that the movie would be released within two or three months. That was not to be. Apparently, the producers and director were in no hurry to show to the public a halfbaked movie in their own estimation, despite spending seven years in production. With producers like Tonye Princewill, Adonijah Owiriwa and a director like Izu Ojukwu, imperfection would not be tolerated. Their goal was to make a movie that would be technically and aesthetically convincing. Gathering a cast that included Ramsey Nouah, Rita Dominic, Chidi Mokeme, Ibinabo Fiberesima, Pat Nebo, Daniel K Daniel, and Zimbabwean, Memry Savanhu, they spent three months at the Mokola Barracks in Ibadan, Oyo State where they got first-hand training on military mannerism. With this, 76 scored a first, in terms of securing unwavering support from the Nigerian military. From the costume to the setting, ‘76 highlights the invaluable work of these gentlemen. What followed next were visits to international film festivals in Toronto and London where the work was adorned with garlands. Feedback from these festivals led to sessions of rigorous editing before its release in

L R R R D I 76

I O 76 K A

Nigeria last November. Set against the backdrop of the historical failed Dimka’s coup that led to the assassination of the former Nigeria military leader, Murtala Mohammed, the storyline revolves round a young army officer, Captain Joseph Dewa. Dewa (Ramsey Nouah) who had barely returned to his pregnant wife Suzie (Rita Dominic) in the barracks from a covert mission found himself ambushed by his friend, Major Gomos (Chidi Mokeme) into another covert mission. This time around, it involved the assassination of the military leader. Art director, Pat Nebo who played Colonel Aliu is the architect of the coup. Between smoking cigarettes furiously and issuing codes in a dark dingy room, he recruited his underdogs who were to carry out the mission. It was in this room that Dewa was brought and threatened to submit his identity card as a proof of allegiance to the plan. Ramsey Nouah was lovable, adorable and superbly dynamic in his portrayal of Captain Dewa. He dazzles the audience with his unique ability to switch from a romantic

husband and father-to-be to a smart and disciplined soldier on the run. His well-paced purposeful strides, intelligent glances, alertness and quick-witted remarks, gave his character an undeniable credibility. As a husband, he doted on his pregnant wife, Suzie who is robbed of sleep by their neighbour, his superior, Lieutenant Jubril (Shuaibu Ebenesi Adams) and his spoilt uppity wife Eunice (Memry Savanhu). With her afro hairdo, mini dress and her heeled shoes, Eunice made it a habit to play her music loud to the annoyance of Dewa and his wife. She knew the Dewas could do nothing about it because of her husband’s rank in the army. But that was not the only issue Dewa was confronted with in his marriage. His in-laws dislike him. His wife was worried about his family since he had not introduced her to any member of his family. At work, he tried to play the hero who will upend the evil plots of his superior only to find himself as a major target of his enemies. Ramsey displayed the action part of him he never knew existed. Perhaps, he will be the

next Agent 007 (James Bond) should Hollywood need a Nigerian to play the part. For her role, Rita Dominic was peerless. To fully interpret her role, she added extra weight and had that amazing glow peculiar to a pregnant wife. Her love for her husband was clearly seen in her recalcitrance despite her family’s objection. Their love would finally be put to test when Dewa is wrongly accused and arrested for complicity in the coup. His fate depended on his wife who had to produce his identity card as evidence of his innocence. Beyond its military setting, ‘76 explores social and cultural themes. Ojukwu known for his dexterity left no stone unturned as he brings to life the flamboyant lifestyle of the 70s. From the vintage cars used, the costumes (the afro wig, mini dresses, footwears, cutlery) cultural display to music, the film relives the past in a creative way. It is a nostalgic voyage to the past that evokes powerful emotions. From love, greed, betrayal, ‘76 is a film that the Nigerian audience will be proud of. The film’s beauty lies in its visuals. Shot on film, it creates an imagery that is so live and true. The use of live footages from the crime scene and execution of the coup plotters further enhanced the quality of the production. By all standards,’76 awakens hope in Nollywood. Ojukwu is no doubt a meticulous director who knows what he wants and how to get it. But more importantly, he controls the story. He owns it and tells it his way. Of course, with input from his peerless cast. He resisted the temptation of focusing on the gory events of the coup, rather he plotted a beautiful story of love and history. The true beauty of ‘76 is Ojukwu’s ability to beautifully construct a story and tastefully execute it. This does not mean that the film does not have any flaw. Of course, its choice of casting Ibinabo Fiberesima as Angela (Dewa’s sister) was bad. She laboriously tried to evoke emotions from her audience. However, her poor acting does not stop the film from being thoroughly enjoyable. It will be unfair to label ‘76 as just a military thriller. It is by far more than that. To capture it succinctly, the head of Silverbird Group and member of the Red House in the National Assembly, Senator Ben MurrayBruce calls it a history class, with all the embellishments of a compelling love story. Interestingly, the movie dominated the 2017 nomination list of the Africa Magic Viewers Choice Awards (AMVCA). It also had the distinction of being the closing film and scooping awards at the 2016 Africa International Film Festival (AFRIFF). Definitely, ‘76 does not need fawning. It is a film not suitable for shallow-minds but those who appreciate the beauty of art and history.

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ENTERTAINMENT

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M-- - - - SYMPHONY AT CLEAN ACE LAUNCH The orchestra at Clean Ace Drycleanerâ&#x20AC;&#x2122;s Lekki office recently paraded a wide range of instrumentalists and singers who did some vocal justice to classic carols. Though the Christmas bells had since stopped, the best Christmas gift ever from the dry cleaning house to the public is a foundation that will equip the youths in burnishing dry-cleaning skills. The CEO, Clean Ace, Enibukun Adebayo revealed this when he received a few journalists at the office where cleanliness is celebrated on a daily basis through hard-work and commitment. Adebayo revealed that the launch of the foundation coincided with the 25th anniversary of his career in dry-cleaning, which is a family trade. Adebayo, whose grandfather was a washerman, began dry-cleaning business with his father and later his cousin at Garment Care as the Head of Operations. After four years, he decided to aim higher in the career, even with zero capital. His success has inspired him to give back to the society. Adebayo grew up with the sense of

E-keeping clothes clean. He loved to iron clothes and fold them neatly as a young boy. His father who retired as a chartered accountant started to run a laundry firm named â&#x20AC;&#x153;Laundrymartâ&#x20AC;? in 1990 where Adebayo learnt the rudiments of dry-cleaning before joining Garment care. Thoroughly groomed, his daily routine encompasses prayer and strategy since he has a good team working for him. â&#x20AC;&#x153;In my earlier years I went around to collect clothes,â&#x20AC;&#x2122;â&#x20AC;&#x2122; he recalled. â&#x20AC;&#x153; I started with my friends who were working at multinationals. When I returned their clothes in proper package, they were impressed. I have always been quality conscious.â&#x20AC;&#x2122;â&#x20AC;&#x2122; Adebayo who recently shut down a few branches in Lagos said that the organisation took the decision to ensure that only very productive outlets are retained. For him, the business is not about the quantity of stores but quality of work. SHANKO SINGS TOMORROW ON BLACKWALL STREET Multi-talented Afro hip hop singer,

Rasheed Atanda popularly known as gerian music Shanko, is set to take the Nigerian ase of a new scene by storm with the release single entitled, â&#x20AC;&#x2DC;Tomorrowâ&#x20AC;&#x2122;. A mix of hip hop and fuji, the new song un and is being was produced by Suni Osorun ll Street label. released under his Black Wall nd, the song When dropped this month end, is expected to not only set thee airwaves ablaze, it will also be a club banger. on in the As a kid fuji music sensation â&#x20AC;&#x2DC;90s, Shanko churned out a number of hit he top of the songs that went straight to the charts. He later took time offf music technic, c,, and enrolled at Federal Polytechnic, ness Ilaro where he studied Business Administration. d Shankoâ&#x20AC;&#x2122;s natural drive and goal getting mentality has stirred him to keep horning hiss art to even higher standards.. The experience he gathered over the years has now been inculcated into this new song. The song is futuristic, melodious and prayerful.

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Tomaroâ&#x20AC;&#x2122;s Children: The Fight for Education and Healthcare On a small island near Lagos, one man is spearheading the ďŹ ght for a better future for their children writes Omah Areh

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he Reverend Andrew Duya is a determined man. He will not rest until the children of Onisiwo Island in Tomaro kingdom are given the health care and education they deserve. â&#x20AC;&#x153;If I have the privilege to help someone, I will do so.â&#x20AC;? He explains that the number of people living on Tomaro - a settlement close to the Port of Lagos - has increased sharply of late. â&#x20AC;&#x153;The numbers suddenly shot up as a result of the influx of people fleeing Boko Haramâ&#x20AC;&#x2122;s murderous activities in the North East of Nigeriaâ&#x20AC;? says Duya. But the insurgency in NorthEast is not solely responsible for the poverty and lack of social

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services on the island. â&#x20AC;&#x153;In the developed world it is the rich who live by the sea, but here it is the poorest,â&#x20AC;? explains Rev Duya. â&#x20AC;&#x153;There is no doubt that Tomaro is actually the least developed area in Lagos State because of its location. The lack of development presence is as a result of insincerity of politicians. During campaigns for offices, the politicians visit Tomaro in their numbers, promising every good thing in this world, giving salt, sugar, and other irrelevant gifts with which they try to appease or entice the people. That is all.â&#x20AC;? â&#x20AC;&#x153;There are no jobs here for anybody except the teachers employed by the government,â&#x20AC;? says Rev Duya. There is no single

industry at Tomaro, the majority survive on subsistence fishing.â&#x20AC;? Rev. Duya has been working with the Tomaro community in Lagos since 2001, when he became project coordinator for the Nigerian School Project founded by Dena Grushkin, an American teacher from New Jersey. The project built the first primary school on the island, which now has 4000 pupils, half of them girls. The school has since gone on to win accolades says Rev Duya. â&#x20AC;&#x153;In 2013 and 2014, this school received distinguished awards for scoring among the highest of all 3000 junior secondary schools in Lagos State which is a remarkable achievement for the teachers and students,â&#x20AC;? adds Rev Duya proudly. The building of this school caught the attention of the United States Embassy and its medical teams began conducting health clinics. In 2011, a permanent medical facility was built, funded by the US Embassy and staffed by its government. â&#x20AC;&#x153;Health care for the community is extremely limited â&#x20AC;&#x201C; there is just one small clinic with one doctor and one nurse. There are no drugs. The doctor writes prescriptions and the patient has to go to the mainland to buy the prescribed drugs. The doctor lives about 200 kilometres away from here. So, he cannot come here daily.â&#x20AC;? Roughly 30 per cent of women between15 and 49 years in Nigeria have problems accessing health care because of the distance

to the nearest health facility. For rural Nigerian women, this figure jumps to nearly 40 per cent. The health care problems are exacerbated by the lack of clean drinking water, which has to be transported in plastic tanks from the mainland to Tomaro. â&#x20AC;&#x153;There is no refuse removal so This problem is compounded by the lack of proper refuse disposal system. Trash is simply dumped in the water. Makeshift toilets are built on top of the water and the people are left with little choice than to dump the human waste in the water.â&#x20AC;? This lack of water and sanitation can lead to serious outbreaks of disease such as cholera, typhoid and hepatitis. Diseases like cholera cause diarrhoea which is one of the main killers of children underfive in Nigeria, causing over 10 per cent of deaths among this age group. Rev Duya says there is no doubt that it is the sole responsibility of government to fund health and education projects at Tomaro. â&#x20AC;&#x153;It was Dena that opened up this community to the outside world, such as the US Navy. NGOs should also lend a helping hand in the absence of governmentâ&#x20AC;&#x2122;s presence. But whatever the NGOs can do will only be sustained with government support since the NGOs cannot provide everything. This is the duty of the government to its citizens.â&#x20AC;?

THISDAY THE SATURDAY NEWSPAPER ˾ JANUA Ͱͷ˜ Ͱͮͯ͵

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gun State Commissioner for Commerce & lndustry, Otunba Bimbo Ashiru, and his wife, Kemi, celebrated their 26th wedding anniversary and Otunba Ashiru’s birthday recently at Magodo Estate, Lagos. Here are the faces of some of the personalities that attended the ceremony

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

PERSONALITY

Set to Hug the Limelight For ﬁve years, Busola was simply known as wife of famous soul music singer, Timi Dakolo. Now she is set to embrace the limelight, exploring her passion for celebrity photography. Funke Olaode reports

or sometime, Busola has been dwarfed under the towering image of her famous entertainer husband, Timi Dakolo. Whatever she did or did not do was subsumed. Even when they are together in the public, the spotlight was on him. This didn’t quite bother her. If truth be told, she loves being Timi’s wife and would be satisfied to play that role only because when it is combined with caring for her three children becomes very demanding. So, at no time did Mrs. Busola Timi-Dakolo harbor the illthoughts of competing for attention with her husband. She had her plans. First, the children had to reach age. Then she would feel justified to come into herself. For the better part of her five-year marriage, she has been in the background as an entrepreneur selling hair care products and at the same time tending to her three young children. The indigene of Kogi State and mother of three looked smart in a short sky blue dress on red sneakers as she welcomed this reporter to her cozy Bubuphoto studio on the popular Adeola Odeku Street, Victoria Island-Lagos. Growing up in Ilorin after her secondary education at Suleja, Niger state, her initial ambition was to be a medical scientist. An encounter with dead bodies erased that ambition and she opted for Geology and Mineral Resources. She studied the course at the University of Ilorin. Her youth service was spent in Balyesa State where she served in an oil servicing. She was later employed in the Information Technology department of Zenith Bank headquarters. She was with Zenith for four years and quit when she got pregnant with

Busola

her first child. There is a new Busola! From her inner most recesses emerged a passion that she previously gave fleeting thoughts to. She loves taking photographs. The prompting came from her. He encouraged her to get

proper tutorials. For three months, she enrolled with a photographer. Two years ago, to go for an eightweek course in photography at the New York Film Academy. It is a little bit over one year since she launched out. According to her, photography is an eye-opening. It is not just about clicking. There is a lot that goes into every aspect of photography: The portrait, abstract, the documentary and storytelling. The photography scene in Nigeria has been busy in recent years, throwing up quite a few creative practitioners. Not fazed by thoughts of competition, Busola believes she is bringing new things to the table. “My passion for photography has always been there right from childhood. I had cameras and if we went out I was always concerned about taking photo-

graphs. If we go on family vacation I would be the one in charge of photography and hardly have pictures of myself.” Her inspirations come from many sources including gazing at a moving car, or watching a movie, or just gazing into the sky, Busola is currently concentrating more on celebrity photography, portrait, storytelling all in a bid to make a larger statement. “A picture can cover up three pages of a book. Before I take any picture, I make a sketch of what I want on my mind. It is like fashion designing. There is a likelihood that I will stage an exhibition later. People would then understand how I see things. Pictures of every photographer shows the person.” She is keen on achieving great things through photography. “I feel people connect more to images and you can touch lives more. I will fulfilled if I am able to help humanity through pictures.” There is no doubt being married to a famous husband can open many closed doors in her new vocation but Busola insists that her work speak for itself. Her favourite role model in photography is Steven Meisel, a fashion commercial photographer based in New York who has taken many royalty photographs for Vanity Fair and covered Vogue Italian for over 20 years. “In Nigeria I love Obi Somto, TY Bello because for a female to embark on a photography job it takes a lot of a concentration.” She recalled how she met her Bayelsa-born soul singer. “We met in the Household of God Church in 2008 shortly after he won the West African Idol. I wasn’t even ready for marriage or relationship when I met him. I was quite nasty to him because I didn’t want to entertain anybody around me. He was very persistent and kept pressing me that he just wanted to my friend. I was not keen in dating him. I even gave him a wrong number. The following week after church service this guy trailed me with his car just to know where I was staying. Weeks later I saw him around my premises pretending to look for my flat mate.” Fortunately for Busola, her youth service year in Bayelsa enabled her to get acquainted with the people of Bayelsa.

assistant editor senior correspondent correspondent designer CONTRIBUTORS THISDAY ON SUNDAY editor deputy editor STUDIO art director

Busola

THISDAY NEWSPAPERS editor-in-chief & chairman managing director deputy managing director

ARTS & REVIEW A

PUBLICATION

RETURNING GLORY TO AFRICA PAGE 66

29 01 2017

One of Jimoh Braimohâ&#x20AC;&#x2122;s works

GOLDEN CELEBRATION OF OSOGBO ART HERITAGE EDITOR OKECHUKWU UWAEZUOKE/ okechukwu.uwaezuoke@thisdaylive.com

JAN Ͱͷ˜ Ͱͮͯ͵ ˾ THISDAY THE SUNDAY NEWSPAPER

ARTS REVIEW EXHIBITION

GOLDEN CELEBRATIO OF OSOGBO ART HERI

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he Osogbo Art movement is one of the world’s prominent art traditions and that is no exaggeration. Oral and written narratives point to the root of the movement namely, the early experimental art workshops organised by the expatriate art teacher from the University College Ibadan, Ulli Beier and the story is not complete without the mention of his first wife, Susanne Wenger and the second, Georgina Betts who contributed to the epoch-making history. They didn’t set out to form a movement. All they wanted to do was to engage the young boys and girls at the Duro Ladipo Theatre in some art works during the long hours between drama rehearsals. The result is a beautiful spot for the movement on world’s cultural map. In the manner of children listening to folktales from a master story-teller, a sizable number of journalists, who arrived early at the venue of the celebrations marking the fifty years of Osogbo Art, surrounded one of the surviving legends of the Osogbo Art movement, Chief Muraina Oyelami. At the newly revived Centre for Black Culture and International Understanding (CBCIU) in Osogbo, his works were already mounted in the exhibition hall as he delightedly walked in to find several waiting eyes. His humble reciprocation of the courteous greeting accorded to him by this reporter, the youngest of the lot, provoked some grunts of bewilderment from those who know him better. Before his arrival, a tour of the abandoned facility was heart-breaking for those who knew the former state of the centre which was commissioned in March, 2009 by Koichuro Matsuura, who was the DirectorGeneral of UNESCO. Some parts of the centre, which was built to retrieve and curate historic cultural assets, had in abundance wild grasses, flaked doors and vacant administrative blocks. You may add to the list unemployed artists, uncurated works and a stagnant pool of knowledge. What the centre was known for in its first few years include international conferences, vibrant performances and great repute. However, a lingering litigation on the management of the centre had stalled the flow of cultural activities. The details constitute a big story for another day. In a determined attempt to restore and preserve the glory of the cultural hub, the Chairman, CBCIU and former Governor, Osun State, Prince Olagunsoye Oyinlola, rallied the art community to the launch of the latest journals published by CBCIU, a public presentation of Orisa Dances of Yorubaland in DVDs and the exhibition of the works of the two great artists of the Osogbo movement, Chiefs Muraina Oyelami and Jimoh Braimoh Chief Oyelami shared some slices of history of the Osogbo Art movement. With mathematical accuracy, the movement is beyond five decades. Nonetheless, the importance of the celebrations cannot be overstated. “It is important so that we can remember the historical background of how we all started and the contributions of people like Ulli Beier, Georgina Beier, Susanne Wenger and some writers including the forerunners of Mbari Ibadan such as Prof Soyinka and J.P. Clark . Mbari means ‘creation’ in Ibo. When Duro Ladipo and Ulli Beier came to establish

D G O S O T L T C CBCIU P O O the work in Oshogbo, it was changed to Mbari Mbayo which means when I see it, I will be happy,’’ he began. Oyelami is one of the few contemporaries of Ulli Beier, a German-Jew who played a pioneering role in the movement. The artist recalled the circumstances that led to his sojourn to Nigeria where he discovered and acknowledged the rich cultural deposit that were clearly untapped. “I worked with him for decades. I know a lot about him and even visited his parents before they died. I think the way he was brought up made him become a sort of adventurer. He was taken out of Germany during the Nazi war and he was born into a Jewish family. Because of the holocaust, he was sent to Palestine to go and work with the British soldiers. He took care of cows and horses. From there, he was able to find his way to England,’’ he recounted. In Palestine, Beier’s family members were detained as enemy aliens the British authorities. Later, Beier earned a BA as an external student from the University of London. He later moved to London to earn a graduate degree in Phonetics where he realized that war veterans were being given precedence in academic jobs. “It was in England that he got the advertisement from foreign office that there was a vacancy at Ibadan and that was how he came to Nigeria,’’ he continued. “On the one hand, Susan Wenger, a well- established Austrian artist whom he met in Paris became his friend.

She knew Beier was coming to Nigeria and she was also adventurous. That was how they both came to Nigeria in 1950 and settled in University College Ibadan. The environment reminded them of the typical example of the European ways so they wanted something African. They wanted to live every close to the natives. He designed a programme that would allow him to travel round Yorubaland and that was how he got this extra mural studies started. He organised it in Osogbo, Ibadan, Ede, Ikare and Ekiti.’’ Oyelami recalled that Beier became drawn to Duro Ladipo, a student teacher who owned a pub called Popular Bar. Since Beier loved his beer, the love was extended to Ladipo whose intoxication with drama and theatre practice made him a reference point in postcolonial drama history in Nigeria. Ladipo gladly formed a club that attracted writers and artists. Later, visual arts took shape in Osogbo with artists who participated in the first series of experimental art workshops. “Jacob Lawrence, that favourite black American artist was invited to Ibadan where they conducted an art workshop. Giants like Bruce Onobrakpeya took part in that workshop. Same thing was done here by Ulli Beier. Jacob Afolabi and Rufus Ogundele were discovered as artists. I was there as an actor and a drummer. Chief Jimoh Braimoh was our technical manager in the theatre and Twin Seven Seven came by accident. We were having this get together for Professor Michael

Crowther who was transferred to Faraday College and local band was performing. We were preparing to go to the festival of arts in Berlin in 1964 and the guy came as a dancer for a local group and he jumped on the arena and he made some fantastic movement and he was carried away. “In order that we would find him when we returned from Germany, we lured him into staying around in Paris and bought him musical instrument. He didn’t even know how to play the guitar, it was an acoustic guitar. That was how he came into Mbari club and the rest is history,’’ he recounted. Oyelami claimed that the most successful workshop was held in 1964 where artists worked with different media, freely without the intrusion of their tutors who occasionally offered advice and encouragement. Chief Jimoh Braimoh, another of the living legends of the Osogbo Art Movement, corroborated the story. He was glad that the CBCIU, which should be the rightful home of the works of Ulli Beier, has finally come alive. “We are here to showcase our works and train others. We have so many artists that should have been part of this exhibition but unfortunately many of them have passed. Sadly, their works are not there. Our intention is to bring everybody together. We are still going to plan a larger one that will contain everyone in Abuja. We are waiting to have a permanent place where all these works can be kept so that anyone who wants to see all the works of

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Osogbo artists can see them. My style is different from Murainaâ&#x20AC;&#x2122;s. That is why Osogbo is unique. It is different from any other art movement,â&#x20AC;&#x2122;â&#x20AC;&#x2122; he said. Nike Okundaye is often associated with the Osogbo Art Movement. Meanwhile, she was married to one of the best known artists of the Osogbo School, Taiwo Olaniyi popularly known as Twin Seven Seven, who earned his nickname from being the only surviving of the seven sets of twins born by his mother. She was part of the tie and dye movement and learnt from her husband the techniques of painting. â&#x20AC;&#x153;All of us were involved in theatre. Ulli Beier made backdrops for the theatre. Afolabi Jacob and Rufus Ogundele took place in the 1963. Those were the original six. We cannot say Nike is not part of us. We call her Osun,â&#x20AC;&#x2122;â&#x20AC;&#x2122; he said. Braimoh served as stage manager for the Duro Ladipo theatre and worked closely with Rufus Ogundele, Muraina Oyelami, Adebisi Fabunmi, Afolabi Jacob and Taiwo Olaniyi who made up the pioneering artists of the Osogbo movement in art. For the chairman CBCUI, Prince Olagunsoye Oyinlola, the fact that the Governor of Osun state, Rauf Aregbesola had supported the relaunch of the centre spells good tidings to the art community. In his address at the august event, he reiterated that the centre will advance cultural knowledge. (See concluding part on www.thisdaylive.com)

The Inverted Pyramid; Adapted from a novel by Emeka Dike

JANUARY 29 2017 ˾ THISDAY THE SUNDAY NEWSPAPER

ARTS REVIEW SOUNDING-OFF

RETURNING GLORYTO AFRICA Y O

n the one hand, It is argued by many African scholars and historians that civilization began in Africa, specifically in Egypt. Name it, religion, mathematics, science, astrology, astronomy, mythology, arts and other aspects of human knowledge have been traced to Egypt. On the other hand, it is a popular view that English language is the language of the colonisers, just as French and Portuguese. Some indigenous African writers have rejected the use of English in their writings because they hold the view that the language is a powerful, if not divisive tool appropriated by the colonial masters to plunder the African cultural identity. But the recent discovery by a UK based Nigerian IT consultant, writer and researcher, Toluwalase Oladimeji that English and pidgin English derived root meanings in the names of Egyptian pharaohs and Gods is a major contribution to the wealth of knowledge about English language. At his recent homecoming, Oladimeji presented his 2001 literary effort titled, English, the Language of the gods for the first time in Nigeria at Sheraton Hotel, Ikeja. He spoke freely about how the research was born and the challenges of making a personal discovery become acceptable to the intellectual community. It was not easy, neither was it funny. From petty jealousy to sheer disregard, some scholars have dismissed his research as just another expression of racial pride. But Oladimeji is a non-political researcher with a very inquisitive mind. He pored over books, dug into archives and visited the British libraries and museum as well as other reliable sources before he finally decided to document his findings. Oladimeji was very much fascinated by Egyptology and so he devoted his spare time into its holistic study. As he kept studying, his conviction about the root of English language grew firm. He, a graduate of Fine Arts at the Obafemi Awolowo University, Ile Ife, became interested in the study of Ancient Egypt as an undergraduate. Upon his arrival at the United Kingdom, he dug for relevant information on Egyptian history and drew the parallels in their nomenclature and the official language of his home country.

“It changed the dynamics of our collective education. And there’s a spiritual element to this. I could have put it in a book but I want the information to be freely accessed online,’’ he revealed after an interactive quiz session with the media. He argued that his discovery is an untold, secret social history with psychological profiling of subjects of

Ancient Egypt. “Encoded messages, in the names in English, convey another level of depth to the previously unclear and arguable. This discovery will prove to be just as startling as is fascinating. It suggests English is the secret code of Ancient Egypt. “The names of the Pharaohs, the names of their gods are all in spoken

or broken English. Takes the names of the Pharaohs-Hatshepsut, Amenophis, Amenotep, in English when translated or rather re-pronounced, we find a description of their personalities or dispositions,’’ the author argued. The technique used by the author to reach this conclusion includes pronouncing the words in English, association for inter-relative confirmation, grammatical transformation, amongst others. He also adopted the method of cross-referencing persons and people with their history and achievements. In documenting his research findings, Oladimeji carefully articulated the details in a quick-view format using an alphabetically arranged table. Titled, “Decoded Table”, this aspect has three columns namely Egyptian, English and Description. In the table, examples abound to authenticate Oladimeji’s postulation. “An understanding of the ancient’s way of thinking is crucial in deciphering the cryptic passages of the papyrus texts. The key to assimilating the ancient’s paradigm is knowing the main preoccupation of his mind. One would have to think spiritually and naturally,’’ he suggested. His hypotheses are loaded with story within a story, evidence in events and names, steeped in quasi-historical narratives. “The ancient Egyptian god, Thoth (pronounced thought) was held to be the inventor of writing, the creator of languages, the scribe, the interpreter, adviser of the gods and the representative of the sun god, Re. his responsibility for writing was shared with the goddess Seshat,’’ he said. Oladimeji believes that his research, when taken seriously will help to revamp academic incursion into the understanding of English language and the place of the black man in history would be reaffirmed. Some of the content of the paper are adult messages, full of sexual innuendos and humour. His findings took a multi-dimensional turn when he conducted a self-evaluation of the implications of his scholarly effort in the socio-political, economic and religious lives of a people. Though written over a decade ago, Oladimeji’s English, the language of the gods has been a subject of utmost importance to consolidate existing theories on the root of English language. He considered this public presentation as his holiday treat for Nigerians and a precursor to other discourses arising from the content of his paper.

Aboriginal Theatre’s Fractures in Retrospect Yinka Olatunbosun

- - - - - - - - - - -- - -- -- - -- - - - - -- - - - -- - -- - --- --- - - -- -- - - - - - -- - --- - - - - - - - - A- - --- -- - T- - - - -- ’- - -- - - - - -- - - - F-- - - - -- - - - - A- --- - - - - - - - - - -- - - A-- - - - M---- -’- A V-- - F-- - T- - B--- - - - I- - - -- - - - - -- - - --- -- - - - - - - - ---- - - - - -- - - -- - - MUSON C- - - -- -- - - - - - - - - - -- - - - - -- - - - - - - - - - - - - -- -- - - - - - - ---- - - - - - -- - -- - - - - -- - - - - -- - - A - -- - - - - - - - - - - --- - - - - - --- - -- - - - -- - - - -- - - - - - - - -- - -- - - - - -- - - - - - - - - - -- - - - --- - -- - - - -- - ’- - - - -- - - - --- - - -- - - - - -- - - -- - -- -- - - - B- - -- - -- - - -- - - - - - -- - - - --- - - - -T- - -S- - -- ---- -- - - - - - - - - - -- - -- -- - -- - -- - - - - - - - - - - - - - - - - - --- - - -- - --- - - -- - - - -- - -- - -- - --- -- - - - - - - - -- - - - - - - - - - - -- - - --- - - -- - - - - - - - - - - - - - - - - --- - - - - - - - I- --- -R- - - E- - - -- - - - - - - - - - N-- - --- - -- - -- -- - - - -- UK- J-- - -G-- - - O- - - - - - - - -- - - -- D- - - -P- - --- - D-- - - - - -I- - -- - - - I- --- ’- - - - -- - - - - - - - - -- - - - - -- - - -- - - -- -- - -- - - -- - - - -- - - - - - -- - - - - ----- - -- - - - - - - - - - - - - - - - -- - -- -- - - -- - -- - - - - - - - - - - ---- -- - - - - -- - - - - - - - - - - - - - - - -- - -- I- --- - - - -- - T- -- -B- - - --- N- - - -- - --

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THISDAY THE SUNDAY NEWSPAPER ˾ N Ͱͷ˜ Ͱͮͯ͵

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UNVEILING ETISALATPRIZE FOR LITERATURE SHORTLISTED AUTHORS A O

n virtually every competition such as football, the finals’ stage is a very crucial one because it is the phase where champions are determined. This is why teams that make it to either the quarter-final or semi-final and the ultimate final are regarded as competition favourites. Like in football, there are also three stages in most literature prizes that are very crucial to all stakeholders; they are the longlist, shortlist and the grand finale where the winner is unveiled. At these points, it is a clear case of separating the boys from the men. The annual Etisalat Prize for Literature, the first pan-Africa literary prize that celebrates debut fiction writers of African origin resident anywhere in the world, adheres to a rigorous selection process from the beginning to the end. There are four stages involved: the call for entry, the longlist, the shortlist and the grand finale. Launched in 2013 by Etisalat, Nigeria’s leading innovative telecommunications company, as a platform to promote creativity and talent development in Africa, Etisalat Prize for Literature has assumed the flagship status among other literary initiatives nationally, continentally and globally due to its wider reach, quality of participants and judges as well as the prize rewards for the winners. The literary prize also incorporates the Flash Fiction Award which aims to celebrate unpublished writers across the African continent by motivating budding writers to create compelling stories from an African perspective. Just like the previous editions, the race to the2016 edition of the Etisalat Prize for Literature has also got underway with significant milestones already in its trail. These include the call for entries held successfully from June 1stto August 31st, 2016, the announcement of the longlist of nine books on November 15th, 2016 and most recently the unveiling of threeshortlisted authors on January 4th, 2017 by the Judging Panel made up of eminent persons including Nigeria’s Helon Habila as Chair,South African writer/activist, Elinor Sisulu; andIvorian writer and Africa39 laureate, Edwige Renée Dro. Announcing the shortlist, Habila said two Nigerians and a South African made the top list of three. They are Jowhor Ile

(Nigeria) And After Many Days (Kachifo Limited, Nigeria), Julie Iromuanya (Nigeria) Mr & Mrs Doctor (Coffee House Press, USA); and Jacqui L’Ange (South Africa) The Seed Thief (Umuzi Publishers, South Africa). The Chair of Judges disclosed that the shortlisted authors were picked based on originality, literary excellence and reflection of African perspective in their submissions. “In addition to originality of voice and literary excellence, our purpose was to also select a work that portrays an ‘African sensibility’”, he said. Without any doubt, the shortlist has indeed raised the stake for the 2016 edition of the Etisalat Prize for Literature as each of these three authors is a potential final winner. But in whose favour the pendulum finally swings is the decision of the judges. So, what chances does each of them have? Perhaps, a review of their credentials might suffice. Jowhor Ile: Ile was born in 1980 and grew up in Port Harcourt, Nigeria, where he still resides. Ile’s fiction has appeared in McSweeney’s Quarterly and Litro Magazine. His debut novel,And After Many Days, set in Port Harcourt in the oil-rich Niger Delta region, tells the story of a family whose 17-year-old son and sibling, Paul Utu, goes missing during the rainy season of 1995. Burdened with the sudden loss, the family gets torn apart, as their search for answers uncovers family secrets. Jowhor’s scope and feel for life that can be seen clearly in his writing. He presents everyday situations in a very dynamic perspective that keeps his readers glued to his story. Julie Iromuanya: Writer, scholar and educator, Iromuanya is an assistant professor in fiction at the University of Arizona, United States. Born and raised in Midwest, she earned Bachelor of Art degree at the University of Central Florida and Masters of Art and PhD. respectively at the University of Nebraska-Lincoln, US. Through her creative writing Iromuanya is concerned with migration issues especially the rights of African immigrants in the United States. Her neo AfricanAmerican advocacy has revealed much about longstanding intersectional issues related to race, economics, gender, and citizenship. While her work as a creative writer and critical scholar may require

different sets of muscles, she values the ways critical inquiry opens up questions while her creative writing allows her to dramatize answers. In her debut novel, Mr. and Mrs. Doctor,Iromuanya tells the story of Ifi and Job, a Nigerian couple in an arranged marriage, who begin their lives together in Nebraska with an outrageous lie: that Job is a doctor, not a college dropout. Ifi unknowingly becomes his co-conspirator — that is until his first wife, Cheryl, whom he married for a green card years ago, gets back into the picture and upsets Job’s fragile balancing act. The 292-page novel was a finalist for the 2016 PEN/Faulkner Award, the 2016 PEN/ Robert W. Bingham Prize for Debut Fiction, the 2015 National Book Critics’ Circle John Leonard Prize for Debut Fiction, San Francisco Chronicle’s Best of 2015, a Star Tribune Critics’ Choice, and Best Minnesota Books 2015. Her fiction has also appeared in numerous literary magazines including The Kenyon Review, Passages North, the Cream City Review, and the Tampa Review. Jacqui L’Ange: Born in Durban, South Africa, L’ange grew up across five continents. She is a journalist, script writer, editor and author based in Cape Town, South Africa. She holds a master’s degree in Creative Writing from the University of Cape Town, and writes books, films, TV series and investigative non-fiction with focus on sustainable development and environmental issues. L’Ange has spent over a decade as books and film editor for a number of magazines including ‘O’, the Oprah Magazine. She has also written and edited films and television dramas for the national broadcaster SABC and the South African pay channel M-Net. Her first novel, The Seed Thief, was published in South Africa in 2015. The 320-page novel is an intriguing story of a botanist Maddy Bellani, who is asked to travel to Brazil to collect rare seeds from a plant that could cure cancer, and she reluctantly agrees. However, securing the seeds would be a coup for the seed bank in Cape Town where she works, but Brazil is the country of her birth and home to her estranged father. Maddy’s mission takes her into a world influenced by unscrupulous pharmaceutical companies and the selfish motives of others. Certainly, the envious credentials of the

shortlisted authors coupled with the glamour, pomp and the all-encompassing rewards for the winner and the shortlisted writers have raised anticipation among writers, publishers and literature enthusiasts from across the world over which one of them will emerge the ultimate winner of the 2016 edition of theEtisalat Prize for Literature. And this is just a matter of weeks as the winner will be unveiled at the Grand Finale in Lagos, in March 2017. Commenting on the success of EPL so far, Chief Executive Officer of Etisalat Nigeria, Matthew Willsher, commended the judges for their diligence in selecting the top three books out of the tens of titles that were received following the call for entry. “This is by no means a simple task. The role of the judges is quite enormous and we want to thank them for the attention and dedication to the entire review process which birthed the top three finalists”, he said. While reiterating Etisalat’s commitment to continuously making impact on the lives of Nigerians and indeed Africans, he assured that the telco would continue to offer innovative products and services and more importantly platforms that enable people to express their passion and creativity. Willsher added: “At Etisalat, we have found the nexus between innovation and creativity. This is why we give people the opportunity to express their individuality and ingenuity so they can be the best in whatever they choose to do”, he enthused. To further underscore the flagship status of the Etisalat Prize for Literature, Willsher announced that Sarah Ladipo Manyika will be joining other renowned literary personalitiesas a patron of the prize. In line with the established tradition, the finalist for the Etisalat Prize for Literature will receive £15,000 cash, engraved Montblanc Meisterstück pen and also enjoy Etisalat-sponsored fellowship at the University of East Anglia including mentorship by Professor Giles Foden, author of The Last King of Scotland. In addition to the great rewards for the winner, all three shortlisted writers will also enjoy a sponsored multi-city book tour and will have 10,000 copies of their books purchased by Etisalat for distribution to schools, libraries and book clubs across the African continent.

SUNDAY JANUARY 29, 2017 T H I S D AY

T H I S D AY SUNDAY JANUARY 29, 2017

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ecently, family and friends gathered to celebrate with the family of Dr. Chike Akunyili and his late wife, Prof. Dora Akunyili (former NAFDAC Director-General ) as their third daughter, Somto married her heartthrob, Nonso Asuzu. The solemnization of holy matrimony was held at the Madonna Catholic Church in Agulu, Anambra State. Thereafter, the traditional marriage rites “Igba Nkwu” followed at the bride’s parent compound in Agulu, Anambra State.

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T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

CICERO REPORT

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Northern Governors Forum and the Growing Disenchantment JttttttStttttttttttt ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ N’ ’ ’ ’ ’ ’ ’’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’’ ’ ’ ’ ’ ’ ’ ’

ortherners are becoming increasingly disappointed with the Northern States Governors Forum over the perceived failure of the governors to tackle the myriad of problems bedevilling the region. The forum, an umbrella body for the governors of the 19 northern states, was founded many years ago to promote unity, political and economic development of the region. However, since its establishment, the forum has achieved little or nothing in terms of tackling the problems facing the region.

Etttttttt tttttt tttt Many people have continued to question the idea behind the NSGF’s meetings in view of the peculiarities of the various states within the region. They appreciate the lofty intentions behind the forum but lament the continued escalation of the problems, despite the meetings of the governors. Today, poverty is pervasive in the region, there is high level of illiteracy, many industries have folded up, making thousands of people jobless and susceptible to crimes, such as armed banditry, cattle rustling, and kidnapping. The people are sharply divided along ethnic and religious lines, partly because of the bias and discriminatory policies of some state governments in the region based on religious and political considerations. There also the Boko Haram insurgence, which has ravaged the North-east, and the menace of Fulani herdsmen in southern part of Kaduna State, Plateau, Taraba, Benue, Nasarawa and Zamfara states. Many industries have folded up, especially the textile companies, which used to be the largest employer of labour in the region after farming. These are the issues that have always topped the agenda of the meetings of the NSGF. Yet little has been done to address the problems.

Ptttttttttttt The forum has of recent has come under serious criticism. The governors are accused of of wasting public resources on their meetings, which many

described as mere talk shops with no concrete plan to deal with the issues that trouble the region. . This was the reason behind the protest by the Coalition of Northern Youths, when the governors held a two-day extraordinary meeting with the Northern Traditional Rulers Council, which started on Monday at Government House, Kaduna. The youths had on Tuesday, the second day of the governors’ meeting, marched to the Government House to protest against the meeting. Although they were prevented by policemen from accessing the venue of the meeting, leader of the group, Comrade Isa Abdullahi, declared that the meeting had no direct bearing on the people. According to him, since the inception of the NSGF, it has not impacted positively on the region, instead, the North has continued to be inflicted with problems. He lamented the high rate of poverty, illiteracy, diseases and underdevelopment in the region, despite its abundant agricultural and mineral resources. “Every time they meet, it is a repetition of the issues. They discuss the same issues over and over again without any action. We have not seen any economic or political benefit of these their meeting since they started it many years ago,” Abdullahi said. He called on the governors to wake up and address the problems. Also speaking, president of Arewa Defence League, Murtala Abubakar, noted that the meeting of the NSGF had no relevance, as it has failed to solve the problems facing the region. He said, “Before the present administration, we realised the meeting was just a mere talk shop. They will come and drink tea and leave after which they will issue a communiqué and go back. “The next time they hold the meeting again, it is still another empty talk, no action, they keep repeating the same issues without solving even one problem. “Whatever decisions they take at the meeting, no action will be taken. This has been going on for a long time. So as far as I am concerned, they are just wasting resources and their time.” Abubakar said his group started protesting against the meeting since 2013 and when the

governors became irritated about the protests, they moved to Abuja. “Now, they are back to Kaduna again, but this time, they changed the venue (from Hassan Katsina House, Kawo) to the Government House, so as to frustrate any protest against them. “We want to see the governors being proactive, we want to see them working for the people. In fact, our problems are getting compounded, despite their meetings. So it is counterproductive, it is a waste of time and resources, it is not resultoriented.” Although, Second Republic governor of Kaduna State, Alhaji Balarabe Musa, would not comment on the meeting of the NSGF, he recalled that during the Second Republic, governors across the federation had a forum where they meet. “I will not comment on northern governors meeting, but during our time, all the governors in the federation were meeting together,” he said. “Ours was called Nigerian progressive governors meeting. We didn’t find it necessary to have northern governors meeting, we find it more desirable to have a national progressive governors meeting, made up of governors of PRP (People Redemption Party), GNPP (Great Nigeria Peoples Party), UPN (Unity Party of Nigeria), NPN (National Party of Nigeria) and NPP (Nigerian Peoples Party).” Musa said, “We were meeting to discuss national issues and how to bring about unity in Nigeria. We were also comparing notes with each other’s development programmes. We governors of the PRP considered ourselves more progressive than governors of the NPN and we wanted to bring about the benefit of the progressives governors. “We had leaders like Aminu Kano, Waziri Ibrahim and Dr. Nnamdi Azikiwe who everybody could see clearly that they were more progressive than Shehu Shagari and the NPN government. Today, you cannot clearly make that distinction.”

Rtttttt tttttttt tt Chairman of NSGF and governor of Borno State, Alhaji Kashim Shettima, in his address at the Kaduna meeting, said it was the first of its

kind in recent memory. He said the meeting was convened to collectively deliberate and “find urgent, practical but lasting solutions to the myriad of socio-economic and political problems besetting the region.” Shettima stressed that some of the challenges being faced by the North were challenges of managing multiculturalism and heterogeneous issues and good governance which must be addressed for the region to move forward. He stated, “As leaders of government, traditional rulers and community as well as religious leaders, we must unite to tackle the challenges that stare us in the face… “Our core challenges in the North today revolve around intolerance, absence of peaceful coexistence, poverty, illiteracy and lack of unity. How can we address these critical concerns? We, the 19 governors of northern states believe that a gathering of some of the key leaders of the North is more than able to provide solutions to our problems. “As governors, we are more determined than ever, to sincerely walk the talks generated from this important meeting.” He said there was no gainsaying the North was a poor and pathetic shadow of its former self. “ A well-endowed, promising geographic space which accounts for 70 per cent of Nigeria’s land mass, up to at least 60 per cent of its population, with huge solid minerals resources, with potentials for hydrocarbon resources, a growing mining industry, rich arable lands, a blossoming agro-industrial economy, Nigeria’s wealthiest region by GDP and the region with the brightest prospects for accelerated economic growth; in short, arguably Nigeria’s most thriving region, has literally conspired against itself to be reduced to the laughing stock of the world,” the NSGF chairman lamented. Shettima bemoaned the activities of the deadly Boko Haram insurgents, rural armed banditry, cattle rustling, ethnic and religious conflicts, saying the underlying causes are poverty, illiteracy, social exclusivity and severely limited economic opportunities. (See the concluding part on www.thisdaylive.com)

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 2922017

CICERO ISSUE

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he last one week has been very busy for leaders of the All Progressives Congress in the South-east, as the party takes advantage of its on-going membership re-registration exercise to admit countless numbers of persons. The party that was clearly detested in the zone in the build up to the 2015 general elections has suddenly become the beautiful bride that notable political leaders, mostly from the Peoples Democratic Party, are now falling over themselves to obtain its membership card. From Abia to Anambra, Ebonyi to Enugu, and Imo, the story is the same. The wind of defection has become more like a tornado in the PDP. It is even been insinuated that two serving governors in the zone are making efforts to join the band wagon. The major loser in the defection gale is PDP.

Dfifififififififi Leading the pack of defectors is former President of the Senate, Chief Ken Nnamani, who formally joined the train last Sunday after declaring that the road leading to PDP had long closed down. Other notable leaders who have joined the APC are former governor of the old Anambra State, Senator Jim Ifeanyichukwu Nwobodo; the wife of the former governor of Enugu State and former national chairman of the PDP, Dr Okwesilieze Nwodo, Mrs. Dorothy Nwodo; former two-term speaker of Enugu State House of Assembly, Mr. Eugene Odo; and former PDP senator, Chief Fide Okoro. In Abia State, the former governor, Dr Orji Uzor Kalu, has virtually collapsed other existing parties in the state into the APC. Also, in Anambra, where a governorship election is due to be held towards the end of the year, notable political actors from across the parties have found their ways into the APC.

Jfififififififififififi The rush to the ruling party at the national level has elicited reactions from political observers most of who are of the view that it smacks of inconsistency for politicians to abandon their parties in times of hardship. But the defectors have continued to justify their actions. Speaking shortly after he was registered by the chairman of the APC registration committee for Enugu State, John Ibeabuchi, at his Amechi ward 2 in Enugu South council, the former senate president said he would still make a formal declaration at a public event, wherein he would give detailed reasons for choosing APC. He said, “I recognise the weight of this moment. It’s a moment of joy for me to join those who have kept the APC flag flying. It will be foolhardy on my side to continue to identify with a group of persons who are returning from the market. APC is going to the market and shall bring back goodies. As long as God gives me strength, I will like to identify with potential winners. “APC is not yet a perfect party, no party is, but it has the potential of becoming near perfect, unlike others. I was not forced to join the party, I did this out of my own volition. I went on sabbatical since February 6, 2016 when I left the PDP, but today, after taking a close look at the prevailing political situation, I’ve decided to join the APC. “There’s change in the country and we need to identify with the change. The political map of the country has changed, therefore, we the Igbo cannot continue to distance ourselves and continue to cry. We need to come inside and become part of

Nfififi fififi the change. The way the national stream is flowing, we need to be part and parcel of it. “When somebody has a terminal disease, it will be folly to advise the person’s family to continue to waste money trying to cure the disease, rather it will be better to ask the family to prepare for the person’s burial. We cannot continue to identify with a party that lacks internal democracy, a party that has democratic in this name yet is not democratic, a party without a future. People should freely join the APC because the other road is closed, this is where the road is now.” On his part, Nwobodo, urged Nigerians to exercise patience with the APC federal administration, saying the challenges facing the country would not be addressed in one fell swoop. According to him, “I was part of the PDP founders but got nothing for 16 years. Looters came and drove everybody away from the party. I made people in the party and they turned round to fight me from the very day they mounted the saddle. My party closed down my bank, Savanna Bank, that could have given about 3, 000 graduates jobs. I have no apology joining the APC.” Justifying his defection to APC, Odo, who joined with about 2,000 of his supporters, said though he was not unmindful of the fact that Enugu was predominantly a PDP state, he was encouraged by the fact that the leadership of APC was making efforts to inspire the people of the Southeast to join the party. The former Enugu Assembly speaker stated, “The beauty of democracy is the ventilation of ideas and we have found succour in the APC. Part of the attraction is the fact that APC is striving hard to encourage our people in the South-east to join the party. I can assure you that before the end of June this year, it will be difficult to recognise PDP anywhere in Enugu State. The PDP has created a big burden to local politicians and what we now have in Enugu State PDP are temporal landlords.” Also justifying the defections, a former chieftain of the PDP and Secretary

Nfifififififi to Enugu State government in the Chimaroke Nnamani administration, Chief Onyemuche Nnamani, said the only way Ndigbo could realise their presidential aspiration would be for them to join the ruling party. Decrying the experience of the Igbo South-east in the Second Republic, when they were predominantly in the then opposition Nigerian Peoples Party, as against the ruling National Party of Nigeria, he said, “The defections are a good omen for our people. We don’t want to play second fiddle again.” Commending the APC federal government, he stated, “For the past two years, we have witnessed tremendous work going on across our major infrastructure, especially roads. Enugu-Onitsha road, Enugu-Port Harcourt road, these are projects that are now on-going. The second Niger bridge, there is hope that this government will meet the aspirations of our people. We want to be part of this progress and development in the South-east.” Director-general of Voice of Nigeria, Mr. Osita Okechukwu, who dismissed fears that the defections could culminate in a one-party state, said, “It shows one that my people appreciate the infrastructural development element in the three cardinal programmes of President Muhammadu Buhari’s regime. We are aware that in the fullness of time Nigeria is going to overcome the current hardship, despair and despondency. “The most outstanding attraction of our people is the fact that some propagandists sold a dummy to our people that Buhari will use presidential executive powers to Islamise the country and, luckily, as we canvassed then, it didn’t happen. Millions who bought into this vile propaganda before and during the 2015 general elections are full of regrets as victims of post-truth. “Secondly, we are looking ahead on how best to harvest the age long aspiration for president of Igbo extraction in 2023. Indeed, some of us reason that going by the zoning convention, it is faster and better assured

to produce a president of Igbo extraction if President Buhari is to do two terms of eight years. I am an apostle of Mr President. The late Dr Chuba Okadigbo of blessed memory told us something and his prediction is coming to fruition. He predicted that Buhari will lay a solid foundation for transparency and accountability; he will lay a foundation for infrastructural development and the road to industrialisation.” Okechukwu continued, “Yes the appointments didn’t favour us, no doubt.” But he told Igbos not to be distracted by that. “Were we better when we had the Secretary to the Government of the Federation, Minister of Finance in charge of the economy, Deputy Senate President, Deputy Speaker, et al, and no infrastructure or incremental entry into power with infrastructure?” he asked. “Let our people know one thing, Buhari doesn’t hate Ndigbo.” On the perceived marginalisation of the South-east by the present administration, Okechukwu said, “I do not think any section of the country will be marginalised.” Chairman of APC in Enugu State, Dr Ben Nwoye, declared that with the defections, the party had dismantled the alleged rigging machine of the PDP in the state, vowing that nothing will stop APC from wresting power from PDP at the next election. Nwoye spoke at the end of a stakeholders meeting with officials of the party’s national committee on the on-going members re-registration exercise held at the state secretariat in Enugu said PDP was now dead in the area. He noted that with the defection of political bigwigs to APC in the three senatorial districts of the state, “it is now obvious that it is all over for the PDP. It is now clear that nothing will stop the APC from taking over Enugu from the PDP in 2019.” The Enugu APC state chairman enjoined the people of the state and South-east to use the opportunity offered by the re-registration exercise, which is opened to both old and new members, to embrace the party for the political interest and betterment of the Igbo race.

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 2922017

CICERO2ONTHEWATCH

Sixth Lagos Town Hall Meeting: Ambode Unfolds Infrastructural Plan A O 22222 22222 ﬁ222222222222 2222 22222 222222 2222017 222222222 22 222 L2222 S2222 2222222 222

henin2016GovernorAkinwunmiAmbodeofLagos State announced plans by his administration to construct 114 roads in the 57localgovernmentareas and local council development areas of the state in six months, many applauded the vision behind the plan but expressed reservation over its successful implementation. The reservation, to a large extent, could be justified based because the plan was not only unprecedented in the history of the country, but many lofty programmes and policies have ended up as conspicuous failed projects. But Ambode proved pundits wrong, when he delivered the roads in 2016. The roads brought considerable relief to residents, as they helped to ease vehicular movement and improve business activities within the state. Ambode had also promised that the 114 roads would be a yearly project in all the councils in the state to ensure that the dividends of democracy are extended to the communities.

I But in a bid to consolidate the government’s infrastructural drive, Ambode again on January 19 announced the upping of the number of roads from 114 to 181. The process for the award of the contracts has already commenced. Under the “Operation 114 Roads” the state government, through the local government councils, LCDAs, and Community Development Associations, selected two roads in each of the 57 councils for simultaneous rehabilitation. According to the latest plan, some of the councils will now have more than two roads; especially in areas where there is need to fix adjourning roads to a major road to improve on the road network. Speaking at the first Quarterly Town Hall Meeting for 2017, the sixth in the series, held at the Ajelogo Housing Scheme, Ajelogo Market Road, Akanimodo, Mile 12, the governor explained the rationale behind the decision to scale up the road improvement effort. He said he had received many requests from residents on road construction and rehabilitation. Even during the interactive session at the town hall meeting, many of the requests were on roads, a development which made the governor decide that the roads captured for 2017 were key roads that would have great economic impact on the people. Ambode stated at the meeting, “I want to pronounce here that you should watch out next week in the newspapers, we are advertising 181 roads which would be done in all our local governments. “What we have found out is that if we decided to continue with two, some of those roads are not linking each other to the main road. If we are supposed to do some roads in some local governments, it would only make economic sense if there is a linkage. So you would see in the advert that some local governments would have like three, some would have four roads, but the average is 181 and if you divide that by 57, that would be a minimum of three roads from each local government.” The governor said the choice of the roads to be constructed had been made by the local governments in conjunction with the engineers, assuring that before the end of the year when the roads would be delivered, the people would be better for it. S

S Giving his account of stewardship in the last quarter, Ambode said the choice of Akanimodo, Mile 12 as venue for the meeting was to show that the axis was not left behind in the developmental progress of the state. He said he had come to listen to the needs of the people to see where they needed government intervention. The governor said in the last quarter, his administration kicked off its “Rent-To-Own and Rental

A D G O A ft A ﬁ

Housing Policy” aimed at providing affordable units across the three senatorial districts, disclosing that there are 4,355 housing units available with over 500 applicants prequalified so far, while allocation would commence within one week. On the agricultural sector, the governor said his administration was already looking to build on the first fruits of its partnership with Kebbi State Government with the launch of Lake Rice in December 2016. He said in the current quarter, the government would embark on the rehabilitation of the Oko-Oba Abattoir and Lairage Complex, Agege, in line with the promise to increase meat production output, develop the red meat value chain and restructure the complex for improved operations. On road transportation, Ambode said several initiatives aimed at improving transportation within the metropolis, including Marwa/Depot Road, Ijegun-Egba in Amuwo Odofin, 500metres-long Imeke-Ajido Bridge in Badagry, Adisa Ajibulu in Oshodi, Adisa Balogun-Igboho Street, Alapere in Kosofe local government as well as the signalisation and junction improvement along the Lekki-Epe Expressway. Ambode also said the Neighbourhood Safety Corps would become operational in the current quarter with the recruitment of 5,700 personnel, while 100 would be deployed to each of the local governments to complement the efforts of other security agencies in policing the state. He expressed optimism that 2017 held great expectations for Lagos, especially as the state gets set to mark its Golden Jubilee on May 27. Ambode said his administration would continue with its urban regeneration initiatives by building new infrastructure and maintaining existing ones. He listed some of the key projects to be done to include Agric-Isawo-Arepo Road in Ikorodu, Ajelogo–Akanimodo road rehabilitation, Oshodi to Murtala Mohammed Airport Road, Ketu-Alapere inner roads phase II, Oke Oso–Araga–Poka in Epe, Topo Garage to VIP Chalet in Badagry, Ladipo Market Road and Multilayer Car Park, Mushin

and establishment of bus terminals and depots in Yaba, Ikeja, Oyingbo, Anthony, Ketu and Toll Gate. He said more beneficiaries would receive funding from the N25 billion Employment Trust Fund in January. “As we continue the task of ensuring good governance in our dear state, I am confident that 2017 will bring succour and new opportunities that will foster prosperity for Lagos State and all its residents. Our party, the APC, remains focused on making Lagos the progressive sign post for all. I thank all our party leaders and members for their loyalty and support,” he said.

Q A T At the questions and answers time, which was the main idea behind the town hall meeting, people had the opportunity to talk directly to the governor on issues that bothered them. One after the other, residents took turn to ask questions, focusing mainly on the need to provide more roads, health centres, schools, among others. A resident, Chief R.O Ajayi, had fired the first set of questions bordering on infrastructural development requests for Agboyi community and environs, including construction of roads, link bridges, pedestrian bridge, rehabilitation and return of Ajegunle Junior High School. Another resident, Olumide Folami, drew the attention of the governor to flooding in Princess Bola Kazeem area, as well as the need for government to construct schools and health centres in the area. On his part, Dr. Pascal Edomime urged the governor to come to the aid of residents of Irawo who he said had built their road to about 70 per cent completion through communal effort. Yeye Dupe Ojo from Mile 12 talked about the need for government to fix Kujore Street, Quadri-Anibaba Road, as well as provide a secondary school for Agiliti and Maidan communities. Alhaja Dalemo Olukoga, the Community Development Committee chairperson for Ikorodu West and Prince Ladega Ibrahim Olukoga also talked about the need to provide health centres

and secondary schools for Ikorodu West, new market on available land space at Fola Ahmed Street, fixing of the Itoikin road and transformation of the Agboyi-Ketu community. Oba of Lagos, Oba Rilwan Akiolu, in his remarks, urged the governor to give priority to the construction of Adeniji-Adele Road and ensure the construction of other roads that deserve utmost attention in Lagos Island. He also urged the governor to improve the standard of markets in the area, while urging total reconstruction of non-approved and unauthorised buildings already built within major markets in Lagos Island. Akiolu further urged Lagosians to continue to cooperate with and support the present administration as well as desist from any form of clandestine meetings that may undermine the progress of the Ambode administration.

R Responding to questions that bordered on security, Lagos State Commissioner of Police, Mr Fatai Owoseni, said with the continued support of the state government, the command had increased the number of personnel at Ketu-Epe Police Post from two to 70 to effectively combat kidnapping and other crimes in Agbowa, Itoikin and environs. He said the command had transformed the hitherto abandoned Iyun Police Post to an anti-kidnapping unit, while two gun boats were moved to Ejirin. Owoseni urged traditional rulers and community elders to caution their subjects especially the youths on the need to be law abiding, shun all forms of criminal activities, and engage in lawful means of livelihood. While responding to questions on provision of health centres, Special Adviser to the Governor on Primary Health Care, Dr. Femi Onanuga, said presently, the government had 288 primary health centres across the state. He said there were plans to construct another two starting from the next one week and renovate 35 PHCs. (See the concluding part on www.thisdaylive.com)

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

CICERO TRIBUTE

From the Niger Delta, a Rising Star Daniel Iworiso-Markson

here is the idealized notion of leadership which offers that progress is change, and that no leader ever becomes great without overthrowing extant rules and conventions in order to transform society. In other words and in true Fanonian fashion, those leaders who have real vision and are truly desirous of making enduring impact in the lives of their societies must shake up and if necessary overthrow the status quo. Though this could come at a political price, some even with huge loss of political capital and, in revolutionary cases, lives, this is how serious leaders lead and how they entrench enduring legacies. In the recent history of governance in Bayelsa State, I think the dramatic shift in leadership style, vision and achievements, speak eloquently of how incumbent Governor Henry Seriake Dickson came armed with a mission and was resolved never to betray it. His resolve to question the status quo since 2012 when he first came into office is translating to a re-validation of the proper ethos of public service. Now in his second term, the first year of which will be marked on the 14th of February and would also come barely days after his 51st birthday anniversary today, evokes the kind of extraordinary story genuine leaders can create in the development narrative of their people. Specifically, the socio-economic and political re-engineering birthing such remarkable developments in the last five years of his leadership in Bayelsa State, underscore the fact that Governor Dickson is a driver of change, a reformer driven by big ideas. Not surprisingly he ran into spirited resistance by forces of the status quo who were comfortable with depressing indices of societal development so long as their own narrow interests were taken care of. For us to properly appreciate the import of this reflection is to compare the situation the Restoration Government inherited in 2012 and what obtains today in the various sectors of the state economy which will show clearly the huge transformation that has taken place among our people and why the future beckons with such exciting possibilities. One does not have to look far for the evidence of the imprint Dickson has left on Bayelsa landscape. The evidence is everywhere. His leadership goals were founded upon a deep understanding of the challenges he met and a realisation that he would literally have to drag much of the society to attain noble goals of development and progress. There was the high security challenge of 2012 as a result of wrongheaded militancy and when criminals of various stripes ruled the roost. He took on the challenge head on, employing modern crime fightingtechnics and technology to tame crime and criminality. Then there was the challenge of education. What has been achieved has been adjudged a revolution given the achievements in infrastructure and human development. The declaration of emergency in the sector which made education totally free was the impetus which enabled those who might have been unable to go to school due to financial constraints to now do so and with rare scholarships to boot in some of the best schools at home and abroad. There is the re-introduction of boarding schools in all the senatorial districts and with adequate classrooms and teachers provided. The nobility of the teaching profession is now marked not only in words but in deed. In terms of visible impact no sector has received as much attention and reflected obvious progress as infrastructure. Governor Dickson met an abysmal state of infrastructure compounded no doubt by a forbidding terrain that gulps hugeexpenditure. Bayelsa is largely riverine and linking the various towns and communi-

ties is a huge and expensive task. This obviously has had consequence for trade and commercial activities. But today, the story is different as we have modern roads and bridges linking up the entire state in a strategic manner and properly designed to connect people and communities to facilitate commerce and social relations. From the first flyover bridge in the state capital, Yenagoa, to the various senatorial roads and bridges to the fact that people can now drive straight to Nembe by road recently facilitated by the Governor Dickson-led Restoration administration, a project first mooted in the 1950s by Shell and later jointly executed by NDDC, we have seen true leadership, focused, determined and sincere, tackling the challenge of development and putting the welfare of the people first. That the welfare of the people is the primary purpose of government has informed the attention to manpower development which has enabled many youths to be trained and empowered and to helping women entrepreneurs get financial support either through the Izon Microfinance Bank or special grants facilitated by the government. Promoting economic independence has seen the emphasis placed on modern agriculture which utilizes the geographical comparative advantage of the state to grow rice and cassava and to boost fisheries, a traditional occupation of our people but now developed not only for local consumption but for sale farther afield. Far-sighted leadership is also evident in the massive investment on a the international airport at Amassoma, a strategic step which will further help to open up the state for major development as business entities in the south east and south -south region will prefer to land straight in Bayelsa and onward to their destinations or around the state. Thinking big and working doubly hard to actualize the dreams is indeed the Governor Henry Seriake Dickson story. He has been animated by the goal of moving the state from over-dependence on oil and

gas to becoming an industrialized entity. To him, nothing is impossible especially going by his understanding of the Dubai story of sheer enterprise that has also catapulted a landlocked country to such a highly diversified economy that has become a huge attraction to the whole world. It was such thinking on mastering the art of what ordinarily is the impossible which informed the determined efforts at economic diversification long before it became a sing song elsewhere. Hence the bold exploration of tourism potentials with five star hotels, golf links and all other infrastructure to develop the tourist attractions which abound in the state in the pipeline. A better tomorrow is also heralded by plans for a light industrial park in the state, the Agge Deep Seaport and the LNG project in Brass. What is needed is just the support from the federal government not only because of the constitutional/ legal structures of such complex establishments but also the huge capital involved. But what is not in doubt is the viability of these projects. For instance, Agge has the deepest coastline in the country, a strategic gateway, looking at its proximity to the Gulf of Guinea and Governor Dickson sees it as a national endowment which will naturally help to decongest the Lagos Port and boosting trade and commerce in the eastern half of the country and farther to the north east. Transformation of a society entails the people knowing that part of their civic responsibility is paying tax and the government demonstrating by its own example that accountability is an indispensable trait for any human institution or government. Overall, we have witnessed stability in recent years and this speaks volumes about what a serious leadership which inherited a situation of anomie could bring to bear in the lives of the people. No wonder the fond reference to Dickson in popular parlance as the “talk na do governor” or “countryman governor”. Our reflection on Dickson as he clocks 51 won’t be complete without talking about his politics and the philosophy driving it.

As he is wont to say, he is a politician of conviction, meaning that his participation in politics is driven by his desire to leave society much better than he found it. Every other thing follows from this. He believes in the utilization of state resources to develop the state instead of pillaging such resources as a personal estate. Which is why he has had fierce running battles with many members of the elite formation in the state, battles which he has largely won and which framed the cut-throat contest for the last governorship election in the state. As the public would soon read from a book written on the controversial election, the foreword of which is written by Ekiti State governor,Ayodele Fayose, what made the election a mortal combat warfare as it were, was the desperation to control state resources for personal aggrandizement but which Dickson abhors. Interestingly, the good people of Bayelsa whom theOfurumapepe (the great white shark that braves the ocean when the tempest is fiercest) has served in truth and in deed rallied round him by voting en-masse for his re-election, some even throwing their bare bodies to challenge armoured tanks to safeguard democracy. The rest as they say is now history but the lesson here is the need for dedication and determined leadership if society must move forward. This is also what Governor Dickson’s 51st birthday means to the good people of Bayelsa State. He only challenged the status quo for the sake of the people, to create a new direction that has now led us out of Egypt. But his work is not yet done. Nigeria beckons for the enthronement of a new leadership paradigm so that this long suffering land will at last enjoy the benefits of the resources Almighty God so generously bestowed upon her. It is a call which with other like minds would leave him no other choice but to answer. Happy 51st year of your sojourn,Ofurumapepe, in this our God-given earth! ––Iworiso-Markson is the Chief Press Secretary to the Bayelsa State

T H I S D AY, T H E S U N D AY N E W S PA P E R Ëž Í°ÍˇË&#x153; Í°ÍŽÍŻÍľ

PERSPECTIVE

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ast year when the eighth Senate, under the leadership of Dr. Bukola Saraki, rejected the 2017-2019 Medium Term Expenditure Framework and the Fiscal Strategy Paper (FSP) submitted by President Muhammadu Buhari, the upper chamber was subjected to media attacks. Some described the decision of the Senate as unpatriotic. The decision of the Senate to reject the MTEF came barely 48 hours after it rejected the presidentâ&#x20AC;&#x2122;s borrowing plan over technical errors for non-attachment of details of the plan. The decision to reject the MTEF proposal was pursuant to the adoption of a Point of Order raised by former Senate Majority Leader, Senator Mohammed Ali Ndume, at the plenary. Ndume had described the MTEF as an â&#x20AC;&#x153;emptyâ&#x20AC;? document lacking in details. The MTEF is an annual, three-year rolling expenditure plan. It sets out the medium-term expenditure priorities and hard budget constraints against which sector plans can be developed and refined. The MTEF also contains outcome criteria for the purpose of performance monitoring. It sets out the financial details upon which the budget for the succeeding year is predicated. In summary, it is the financial paper which serves as a working tool for the budget. It would be right to say that there would be no budget without the MTEF The media and civil society organisations in their seeming contempt for the Red Chamber abused the Senate action to no limit. But the eighth Senate, which comprises of seasoned technocrats, business moguls, former governors and politicians, stood its ground and demanded that the right thing be done. Some critics questioned the rational behind the Senateâ&#x20AC;&#x2122;s rejection of the MTEF. Some argued that since the International Monetary Fund and the civil society groups had accepted the financial details of the MTEF, the Senate should just rubber stamp the financial document that would determine the 2017 budget. The senators refused to do that because they understand that they were elected to protect the peopleâ&#x20AC;&#x2122;s interest. The Senate knows the problems of the people and is determined to effect a reasonable change with the 2017 budget. The eighth Senate, with its belief that the MTEF as submitted by the executive was unrealistic, queried how feasible it would be to fix the foreign exchange rate for 2017 at N290 to the United States Dollar and the crude oil production at over 2.1 million barrels per day without taking adequate measures to address the militancy in the Niger Delta. However, three months after Buhari forwarded the 2017, 2018 and 2019 MTEF and FSP to both the Senate and House of

S Representatives for approval, the upper chamber has after thorough deliberations finally passed the document. First, the upper chamber, with the interest of the nation at heart, approved the adoption of N305 to the US dollar as the exchange rate as proposed by the executive for the 2017 budget. It also approved $44.5 per barrel as oil benchmark price for 2017 budget as against the $42.50 per barrel requested by the president. This was in view of the continuous rise of the price of crude on the international market. Regarding the foreign exchange, after harmonising with the House of Representatives, the Senate directed that the Central Bank of Nigeria should, as a matter of urgency, initiate measures to close the gap between the parallel market and the official exchange rates. Aside from increasing the oil benchmark from $42.50 per barrel, as requested by the executive, to $44.5 per barrel for 2017 budget, all other projections by the executive were retained by the Senate. When the executive asked for nearly $30 billion loan, it did not tie the loan to specific projects, which was one of the reasons the request was turned down. But in approving both domestic and foreign borrowings, the Senate insisted that they should be on project-tied

basis and that for additional borrowing, government must remain focused and ensure it used the funds for critical projects that will increase productivity and also contribute to financing the debt. Before giving its nod for the near $30 billion, the Senate said, â&#x20AC;&#x153;Globally acceptable ratio of debt to GDP is 56 per cent. Nigeria still operates within its country specific ratio of 19.39 per cent of debt to GDP. This implies that Nigeria can still potentially borrow or increase its country borrowing limit. â&#x20AC;&#x153;Total outstanding external debt stock is at $11.26 billion, thus, Nigeriaâ&#x20AC;&#x2122;s external debt has been rising at an average of 9.2 per cent per annum. In the case of domestic debt, the total domestic debt stock of the federal government is $37.44 billion. In 2017 FGN is projecting an additional borrowing of N2.321 trillion, comprising N1.253 trillion (domestic) and N841.067 trillion (foreign).â&#x20AC;? What are the lessons from this? It simply shows the eighth Senate as not only matured, but also in tune with the realities on ground. The Senate is showing capacity to do what is right and to say no to what is wrong. It is what the late Chinua Achebe would describe as â&#x20AC;&#x153;rebuff a child with the right hand and accept the child back with the left hand.â&#x20AC;? The framers of the 1999 Constitution were not engaged in a fantasy when they stated clearly that the National Assembly shall approve all budgetary expenditures. And they were not oblivious of the importance of the MTEF. It is clearly stated that the MTEF shall dictate any budgetary provision. It is not ideal that the MTEF should be approved after the budget has been submitted. The proper thing is that the MTEF should guide the budget preparation, hence it is expected that it should be submitted at least two to three months before the budget is introduced. It is, therefore, logical that with the passage of the MTEF, the debate on the 2017 budget can commence. In all, it should be seen that there is no friction between the executive and legislature on policy. One thing is common to both arms of government: both are out to improve the welfare and well-being of the citizenry. No arm of government should be seen to be championing hardship upon the electorate. The Presidency and the National Assembly are partners in progress in the task of moving Nigeria forward. The passage of the MTEF documents that paved the way for Senate deliberations on the 2017 budget at the plenary last week shows the eighth Senate as not only capable of carrying out its legislative duties, but also disposed to transparency and passionate about issues that affect the welfare of Nigerians. â&#x20AC;&#x201C;â&#x20AC;&#x201C; Okocha is Special Assistant to the Senate President on Print Media.

Ugwuanyiâ&#x20AC;&#x2122;s Development Trajectory in 2017 L A

review of the activities of Governor Ifeanyi Ugwuanyi of Enugu State in 2016 towards the advancement of good governance and provision of critical infrastructure in the state could not come at a better time. The year under review was no doubt a tough one, considering the adverse effects of the economic recession in the country on the people. It was, indeed, a year many Nigerians, both the rich and the poor, will not forget in a hurry. In Enugu State, even though 2016 was coarsened by the severe economic hardship in the country, the pragmatic, people-oriented and visionary leadership of Ugwuanyi impacted positively on the lives of the people, especially, through the provision of critical infrastructure and good governance. The governorâ&#x20AC;&#x2122;s development trajectory with the meager recourses at his disposal occasioned by the economic meltdown in the country, his peace initiatives and humble disposition have endeared him to the people of the state. His administration has remained focused and steadfast in its efforts to deliver on its campaign promise â&#x20AC;&#x153;to deploy government services to create fair and equal opportunity for every willing citizen to make a living and create wealth, educate our children, and enjoy life in a peaceful and secure environment.â&#x20AC;? Ugwuanyi during his one year anniversary in office on May 29, 2016, said â&#x20AC;&#x153;rather than allow the severe economic recession occasioned by the negative developments in the oil sector deter us from achieving our goals, we will, instead, turn the situation into an opportunity to look inwards and harness those potentials which free oil money has blinded and prevented us from exploiting all the while.â&#x20AC;? According to him, â&#x20AC;&#x153;it is indeed a very well-known fact that, as a consequence of the nationâ&#x20AC;&#x2122;s current economic woes, the monthly allocation to states from the Federation Account has fallen to less than 38 per cent of what it used to be. â&#x20AC;&#x153;Before we came into office, governors used to enjoy access to excess crude fallouts but now, the language has changed to bailout funds. The situation has become so bad that many states are unable to pay salaries and meet other obligations; and when a governor pays salaries, he is applauded and it makes news. The federal government essentially summed up the situation with its recent and solemn declaration that the country is broke. â&#x20AC;&#x153;However, notwithstanding these bleak economic realities, we were able to embark on the massive development of urban and rural roads across the state in fulfilment of our promise to create more urban centres, enhance rural access and boost economic activities in every corner of Enugu State.â&#x20AC;?

The achievements of Ugwuanyiâ&#x20AC;&#x2122;s administration in 2016, in the midst of the daunting economic challenges, speak volumes for his leadership qualities. It was in 2016 that the administration commenced massive construction of over eight major roads spread across the three senatorial districts of the state. These were kicked off late 2015. The roads include the Nike Lake road; the Abakpa Nike road; the Opi-Nsukka dual carriage road; the Amaeke-Ngwo-Nsude- 9th Mile bypass; the Amankwo-Amaeke-Amah Brewery Junction-9th Mile by-pass; the Ohom Orba Junction-Imilike Ani- Ezimo Uno- Ezimo Agu-Imilike â&#x20AC;&#x201C;Ogbodu Aba-Obollo Etiti-Amalla-Obollo Afor ring road; the Enugu Road Junction-Umuezebi-Nru Junction-University Gate road; the Post Office Roundabout- Odenigbo Roundabout- Ogurugu Road-Ikenga road; and the Obechara Road Junction-UmuakashiMechanic Village-Ikenga Hotels Junction road. It is worthy of note that five of these roads have been completed and opened while others are nearing completion. It was also during the year under review that a data-simplifying civic organisation, BudgIT, listed Enugu, Lagos and Rivers as the only states out of the 36 states of the federation that could fulfil obligations to their workers. Enugu State, in spite of the economic recession, has been regular in the payment of workersâ&#x20AC;&#x2122; salaries and still executes capital projects. In fact, the state government paid last Decemberâ&#x20AC;&#x2122;s salaries on the 19th to enable its workers celebrate Christmas with their loved ones. The wise decision was based on the fact that Enugu is predominately a civil service state and it is only when workersâ&#x20AC;&#x2122; salaries are paid that the economic activities of the state are reactivated for the overall interest of the people. In 2016, Ugwuanyiâ&#x20AC;&#x2122;s administration grabbed the bull by the horns and embarked on the rehabilitation of the failed sections of the federal government roads along Oji River-Ugwuoba-Anambra State boarder by old road and 9th mile-Egede-Nsukka-Obollo Afor- Benue State boarder road to alleviate the pains road users experienced on the roads and guarantee smooth and safe transportation during the Yuletide. It was also last year that the governor moved to extend the frontiers of development to the rural areas by creating more urban centres to boost economic growth and improve the lives of the people. He simultaneously kicked off 35 infrastructural projects across the 17 local government areas of the state. The projects, which comprise 25 roads, water schemes, electricity, hospitals, schools, buildings, among others, are on-going. Last year, the state government approved the release of funds for the execution of N3 billion worth of projects for the renovation of over 276 primary and secondary schools in the state, with the federal government providing 50 per cent of the need money. It also embarked on the recruitment of 2000 primary school teachers to

improve the standard of education in the state. Recently, 750 unemployed youths selected from across the 17 local government areas of the state were enrolled into the SDGs Skill Acquisition programme to create opportunity for them to realise their potentials. The state government pays each trainee N5, 000 per month for transportation and N100, 000 at the end of the training to assist the person start his or her own business. The governorâ&#x20AC;&#x2122;s passion for sporting activities and support to the Enugu Rangers International Football Club helped the club to win the 2016 Nigerian Professional Football League â&#x20AC;&#x201C; a remarkable feat that broke the clubâ&#x20AC;&#x2122;s jinx of not winning a trophy since 32 years. It was also in 2016 that Enugu State through the instrumentality of its Economic Advisory Council organised the first ever Enugu State Investment Summit, christened â&#x20AC;&#x153;Oganiruâ&#x20AC;?, to showcase the economic potentials of the state in line with the promise to vigorously promote investment and pursue the diversification of the stateâ&#x20AC;&#x2122;s economy. The above achievements are only a small part of the laudable feats recorded so far in the state in line with the governorâ&#x20AC;&#x2122;s campaign promises. They were made possible by accountability, transparency, financial discipline and prudent management of the stateâ&#x20AC;&#x2122;s lean resources. They were also made possible through the application of the best economic practices that would engender sustainable growth and development, reform programmes in the public service, finance and economic development sector which had resulted in a significant increase in the stateâ&#x20AC;&#x2122;s internally generated revenue. For instance, the state government after a staff audit in the 17 local government councils discovered a total of 3,916 ghost workers who received salaries on monthly basis. The governor recently presented the 2017 budget estimates tagged, â&#x20AC;&#x153;Budget of Economic Recovery and Inclusive Development,â&#x20AC;? before the Enugu State House of Assembly. The budget articulated the plans and vision of the present administration to create an environment that will encourage development of the stateâ&#x20AC;&#x2122;s human and natural resources. With this, Ugwuanyi has rekindled his commitment to the provision of social services and rebuilding of vital infrastructure in all sectors and across the state. He said the budget â&#x20AC;&#x153;will among other things, propel the state along the part of economic recovery and promotion of full and productive employment of the citizens of Enugu State.â&#x20AC;? The present administration has promised and demonstrated that it will not allow the prevailing harsh economic climate in the country prevent it from attaining its lofty objectives for the people. The people of the state should reciprocate this gesture by intensifying their support and prayer for the government. â&#x20AC;&#x201C;â&#x20AC;&#x201C;Amoke, writes from Enugu State

JANUARY 29 2017 ˾ THISDAY7THE SUNDAY NEWSPAPER

PERSPECTIVE

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s a retired public servant, I have the good fortune of looking back to a few significant moments in my public life which I consider as cumulative experiences in my reform evolution. From the commencement of my public life till retirement, I came to see public life, especially for a reformer, as series of policy and implementation battles in which one wins some and loses some. One of those reform moments came between 1999 and2002 when, as head of the Policy Division in the Federal Ministry of Education, I led a technical strategy team that started a round of Education Sector Analysis (ESA) in 1999. The ESA project was a critical response by Nigeria to the promptings of UNESCO et al, for a sector analysis that will provide an empirical basis for addressing the problems of education in Nigeria. Given the fundamental significance of education to the processes of economic growth, democracy and development on the globe, the sector analysis project was conceived with the twin mandate of (a) serving as a reform template that would guide the conception and reviews of national policies on education, and (b) also serving as the base document to instigate the production of any strategic plan for pushing the boundary of education forward in Nigeria. In 2006, the Federal Ministry of Education published the condensed report of the Education Sector Analysis diagnosis. It was a damning report of the state of education in Nigeria, and no sector was spared—early childhood, primary, secondary, vocational/ technical and tertiary education, including non-formal and special education. Several issues crosscut the entire sectors analyzed. They include poverty, brain drain, community participation, employability, etc. On employability for instance, the report noted that “Available record and literature report that the quality of training that present day graduates receive is inadequate and that the performance of these graduates on the job is equally less than acceptable.” There is no one that can reasonably doubt the significance of education as one of the key drivers of change anywhere in the world. For Herbert Spenser, “The great aim of education is not knowledge but action.” Education, in other words, speaks to the capacity a nation has to think, learn and act proactively especially on issues that bother on the welfare and empowerment of the citizens. And this is especially so in Nigeria which is a state struggling with the pivotal harnessing of its human capital as a fundamental ingredient in national development. While the ESA is a critical diagnosis of the weakened capacity of education in Nigeria to rise up to its responsibility as a developing nation, it seems to me, in retrospect, that the report greatly underestimates the state of the education sector in Nigeria. Or, to put it in proper perspective: the inadequacies the ESA outlined all point at a distressing view of the state of education in Nigeria and pinpoints the reason why development action has failed so far to transform the lives of Nigerians. We hear news almost on a daily basis of how Nigerians in Diaspora are chalking up one achievement or the other. One study, for example, shows that Nigerians constitute one of the most

brilliant and most celebrated immigrant groups in the US. So, let us start with the brain drain issue. And it makes sense to make the point by simply looking at the development profile of countries, like Nigeria, that lose its human capital to other countries, and countries, like the United States (or any other state in Europe), which benefit from the brains drained away from Nigeria. Countries that immediately understand the significance of harnessing the inputs of its critical mass of individuals really have no problem turning these inputs into development dynamics. In such countries, higher education is serious business. It is submerged, transformed and energized in the crucible of competitive research that speaks to national and global issues like climate change, technological advancement, space research, food and nutrition, healthcare, education, infrastructure, and so on. Such countries also find primary and post-primary education the cradle for jumpstarting ideas and innovation that initiate mental capacities for later use. The STEM (science, technology, engineering and mathematics) education policy is a very good example here. In Nigeria, curriculum issues are afflicted by half-hearted policy engagements that fail to unravel the depth of reality in Nigeria. Over the last few years, we have sat and watched several curriculum blunders—History was deleted from the course menu; many courses were merged without due considerations; many new courses were created without adequate teaching capacity to handle them. Students, teachers and school administrators go to bed one day and wake up the next to a confusing array of new programmes as well as the disarticulation of the old ones. This calls into serious debate the role and responsibility of the National Educational Research and Development Council (NERDC), the body charged with the responsibility of implementing educational policies in Nigeria. NERDC needed, for instance, to be brought into the very heart of a deeper issue about curriculum. And this concerns the perception, even by scholars, of a seemingly incommensurable relationship between the sciences and the humanities. Such a perception is anti-developmental because it is conceived in terms of a disenabling dichotomy that drives an unfortunate wedge between what ought to have been the combined intersectional relationship between the capacities of both endeavours. The major challenge before NERDC is simple: How can STEM not only be established and firmly rooted in Nigeria’s curriculum reality, but also be transformed into STEAMSS through the incorporation of the humanities and the social sciences? Within the Nigerian educational reality, STEAMSS (science, technology, engineering, arts, mathematics and the social sciences) becomes a composite educational package that can propel Nigeria’s growth curve beyond our collective imagination. And this development could be forced also into the entire employability issue arising from the endless offloading of unemployable graduates into a glutted unemployment market. An average graduate in the Nigerian higher education system is half-baked. Kudos must be given to the General Studies Programme in Nigerian universities for redeeming the situation a bit, and making education as rounded as possible. But then, employability must be taken holistically as emerging from a trajectory of functional and stable educational system. Nigeria’s educational system began with the 6-5-4 framework. In 1982, it

became the 6-3-3-4. In 2009, the system changed again to 9-3-4. And now, there is a proposal for another 1-6-3-3-4. What do you have when incessant changes to ill-considered policies merge with endemic infrastructural deficit in educational institutions? Simple: Unemployment multiplied by unemployability! A student can only become functional through a functional educational system that is proactive and foresighted. The solution to the debilitation of Nigeria’s education sector must first be perceived as multifocal. Hence, there cannot be a one-sizefits. The issues are just too complicated to admit one panacea. And then this diagnosis must be followed by the recognition of the need for an all-round reform blueprint. The blueprint for reforming the education sector must be beautiful in its comprehensiveness and thorough in its specificity. Such a blueprint must be calibrated through the injection of the critical wisdom of all stakeholders in the education sector—government MDAs, non-state actors, parents associations, teachers’ unions, private sector organisations, civil society, educationists and educational managers, etc. Thus, rather than the usual discrete, and often contradictory, efforts that attend deep-seated challenges in the education sector, there is a need for a focused and concerted understanding of what ails Nigeria’s educational philosophy and education system. To succeed, therefore, such a reform must first be grounded on an institutional understanding of the decline in educational standard. Education, it seems to me, is the most critical development institution in Nigeria, and the most critical driver of change. Hence, an institutional reassessment of Nigeria’s education sector must commence with the reform of the institutions of education at various levels—policy institutions like the federal and state ministries of education, NERDC, NUC, UBEC, etc.; several educational organisations like STAN (Science Teachers Association of Nigeria); educational policies like the universal basic education; and so on. We must not underestimate the significant role of the government, at both the state and federal levels, and the critical responsibility the government has to deploy political commitment and action to making any reform succeed. Political will is a singular success factor in any reform management. Once a government signals interest in any reform endeavour, it already has a 50% chance of success. For example, the education sector reform requires the bridging of a huge financial gap that incapacitates many reform initiatives. Carefully managed and monitored funding and reform administration are essential in the revitalization of the education sector. Like we hinted earlier, higher education plays a powerful role in development calculation for economic growth. The issue of autonomy for Nigerian universities, for example, has the advantage of depoliticizing the governance and governing structures of these institutions in order to make them more responsive to innovation and the research need underlying national development. ––Dr. Tunji Olaopa is the Executive Vice-Chairman Ibadan School of Government and Public Policy (tolaopa2003@gmail.com; tolaopa@isgpp.com.ng) (See concluding part on www.thisdaylive.com)

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n Nigeria, few public figures inspire the way the Speaker of Akwa Ibom State House of Assembly, Hon. (Barr.) Onofiok Luke does. There is something utopian about how he carries himself. This is one politician who understands as a lawmaker what it means to represent the interest of the people. Last year, on 21st of December, Hon. Luke held his third ‘Constituency Briefing and Thanksgiving Service’ as a member representing Nsit Ubium state constituency in the State House of Assembly. The highly attended thanksgiving also marked his one year anniversary as the Speaker of the 6th Assembly. At the event, while delivering her speech, his deputy, Hon. Mrs. Felicia Bassey told Hon. Luke: “You are not fake. You are a real man.” Understand that this was not political talk coming from a politician. When you walk the streets of Akwa Ibom and enquire about Hon. Luke, you will get this same reaction. Also, when you listen to the Speaker speak, he’s an open book and hides nothing. For instance, how many politicians in this make-belief country of ours do you know that owns up to taking a loan to organize an event and even going as far as stating details of how they intend to pay back? This was one of the realness exhibited by Hon. Luke at the event, and in full public glare. Because he talks openly and without bias, he has been nicknamed by the people and his colleagues as the ‘Speaking Speaker’. Picture this. In the presence of the State Governor, Udom Emmanuel, Hon. Luke described how he was not included in the “government list” as those to return to the House, and how “Security agencies were mobilized against me during my primaries.” Those who were against his emergence believe the Speaker’s claim to have “moved on”. It is difficult to hate someone like Hon. Luke. Having friends across Nigeria – irrespective of their differences that include belonging to distinct political parties – who speak highly of him is a testament to this.

At the December event were not only politicians, but friends from back in his days as the pioneer Speaker of the Nigerian Youth Parliament, set-up, according to Clifford Ndujihe, as a “non-stipendiary institution established by then late President Umaru Musa Yar’Adua to help generate inputs from elite Nigerian youths into the country’s mainstream governance.” Writing in the Vanguard, Mr. Ndujihe listed the guests present to include “former military administrators and governors of the state: Col. Yakubu Bako, Col. John Ebiye, Air Commodore Idongesit Nkanga, retd., Capt. Samuel Ewang and Obong Victor Attah. Former Deputy Governor, Obong Chris Ekpenyong; 11 members of the Forum of Speakers Conference of Nigeria led by their Chairman and Speaker of Kebbi State House of Assembly, Ismaila Kamba… Other House of Assembly speakers at the gathering were those of Ebonyi, Nasarawa, Ebonyi, Enugu, Rivers, Cross River, Kaduna, Kano, Niger and Bayelsa States.” There were also “Senators Effiong Bob, Anietie Okon and Bassey Albert; President of Ijaw Youth Council, Udengs Eradiri as well as Lt. Colonel Abdul’Aziz Musa Yar’Adua, younger brother to late President Umaru Yar’Adua, who represented the Yar’Adua family. So also were the First Lady and wife to Governor Emmanuel, 13 members of the National Assembly from Akwa Ibom State, members of the State Executive Council, clergymen, royal fathers...” Only a few politicians in Nigeria can command such crowd. Hon. Luke would be the first to admit that this is not entirely because as Speaker of the Akwa Ibom State House of Assembly, he is the number three citizen of the state. As one who proudly wears his faith as badge, and is not melancholic about it, he would tell you without equivocation that it is by the “Grace of God”. At the event, his Pastor, Rev. Ntia I. Ntia, who was accompanied by the wife, spoke highly of the Speaker and his open appreciation in thanksgiving to God. Hon. Luke himself said that during his trials, “God showed that He stays in heaven and rules on the affairs of men.” Again, only few politicians would mix religion with politics and not come off as self-seeking. If anyone was in doubt, a comment by Hon. Luke at the event

L777 separated him from those politicians known to embrace religion only when it is convenient to do so. According to him, “If I can kneel before men, how much more God who lifted me from the dust to sit with kings and princes’ of my land.” A description that indeed sets him up as a model politician was from Governor Emmanuel: “In Onofiok Luke I have found a solid partnership and one passionate and willing to develop the state together.” Rightly stated, this is the passion of Hon. Luke, to develop Akwa Ibom and uplift her people. -- Maduekwe is editor at Discussing Africa. You can follow him on Twitter @Ojo_Maduekwe

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 29 2017

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Investor at Loggerheads with Capital Market Regulators over Direct Cash Settlement

Ex-NBA President, Okpoko, Advocates Establishment of National Prosecution Service

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More than a year ago, under the leadership of the Securities and Exchange Commission (SEC), the Nigerian capital market commenced the Direct Cash Settlement (DCS) initiative, a direct payment of proceeds of sale of securities into an investor’s nominated bank account. This initiative was, amongst several other efforts, developed to protect investors and eliminate fraudulent activities in the Nigerian capital market. The DCS allows cash proceeds from trades executed by brokers on the Nigerian Stock Exchange (NSE) to settle directly into investors’ bank accounts. It is, however, worth noting that before this could happen, an investor has to give his broker the mandate to sell his or her shares and duly complete the DCS mandate form which will be submitted to the Central Securities Clearing System (CSCS), the clearing and settlement system for Stock Exchange. One year into the operation

of this scheme, THISDAY can exclusively report that there is a brewing legal battle involving Partnership Securities Limited (PSL). The firm, which is a registered dealing member of the Nigerian Stock Exchange, was founded by Mr. Victor Ogienwonyi. The firm is involved in the case of conversion and misappropriation of N1,237,245,000 and US$80,000.00, being part of the proceeds of sale of 96,077,872 units of Ecobank Transnational Incorporated Plc belonging to Mr. Arnold Ekpe, a former CEO of ETI. At the heart of the dispute is Ekpe’s belief that once you mandate your stockbroker to sell securities, the proceeds will automatically flow into the client’s account. However, the DCS process is such that an investor must opt for the settlement of proceeds of sale of securities into his account by filling a direct cash settlement mandate. This mandate will then be handed over to the stockbroker who then presents it to CSCS. THISDAY sources, who

preferred to be anonymous, revealed that subsequent to a notification sent to the regulators by Ekpe, a preliminary investigation was conducted into the matter with NSE issuing a notice of suspension to PSL on 17 October 2016 and the firm was suspended from trading on all floors of the exchange, effective 18 October 2016. This suspension was also published in the exchange’s online portal (BrokerTrax) in line with established tradition. Furthermore, industry sources familiar with the matter told THISDAY that there was on-going extensive investigation by EFCC on one hand and SEC, CBN and NSE on the other hand. The source confirmed that Ekpe was collaborating with these agencies to recover his money from Ogienwonyi. In addition, Ekpe was said to have secured a Federal High Court ruling where one Justice Hassan of the Federal High Court appointed Mrs. Roselyn Sonuga as provisional liquidator with a view to assisting Ekpe and other affected investors recover their monies.

These steps, one source argued, aligns with the advice by NSE to Ekpe to focus on recovering his funds from Ogienwonyi instead of instituting legal charges against the exchange or any other market regulators. Going by a copy of the petition of November 15, 2016 written by the Managing Partner, Sofunde Osakwe Ogundipe & Belgore, representing Ekpe, the law firm on behalf of the client accused the Nigerian Stock Exchange and CSCS of negligence by settling the proceeds of the sale of its client’s shares into the account of PSL rather than directly into Ekpe’s accounts as provided for under DCS System. The law firm further claimed that NSE and its agent, CSCS should have acted much quicker with the knowledge that PSL, having conducted itself in an unprofessional manner should not have been allowed to continue as a stockbroker licensed to trade on the exchange. Efforts to get a response from Ekpe proved abortive.

Obaseki Flags off 29-km Agbede-Awain Idegun Road Edo state governor, Mr. Godwin Obaseki, has flagged off 29-kilometre Agbede Awai-Idegun road in fulfilment of part of his electioneering campaign promises to the people. Flagging off the road construction, the governor recalled his experience during his visit last August highlighting that the road was in a state of disrepair. According to the governor, “When I came around August 2016 during our campaign and I wanted to go to ward 8 for campaign at Idegun, we left around 7am. I got to Idegun around 8:30 or 9:00am and I asked what kind of suffering is this in the state and during this time, our vehicle was losing balance, then, I promised that if God made me governor, the road would be one of the first that I will construct.” In addition, Obaseki revealed that his plan was to build the road to meet the standard set by the immediate past administration. While emphasising the importance of the road, the Governor said the road is strategic to the

plan to open up the area for the proposed 40,000 hectares of land for mechanised agricultural purposes as foreign investors were already indicating interest. The governor also gave an assurance that the construction company handling the project had been mobilised to the site, while the project would be completed within 24 months. He however called on the elders to give the necessary cooperation to the construction workers and emphasised that they should be protected so that the work could be completed quickly and hopefully ahead of schedule. The spokesperson for the communities, Prince Abudu Lateef Momodu thanked the governor for matching his words with action revealing having an administration that not only promised development, but also stood by it is a breath of fresh air. He said, “We have had so many promises in the past, which were never fulfilled up till now, but today we are witnessing the fulfillment of Obaseki’s

promise – one he made less than three months after assumption of office.” He described the governor as a unique person adding that the Oba of Agbede, HRH Momodu II had acknowledged the unique qualities of the governor. Meanwhile, Obaseki has assured the people of Edo state that he would make the state a leading agribusiness hub in Nigeria, especially by initiating strategies that could enhance agricultural development, create jobs and guarantee food security. Obaseki made this disclosure during a 3-day agribusiness workshop at the Randekhi Hotel in Benin City with the theme: ‘Harnessing resources and opportunities to optimise agribusiness in Edo State.’ Obaseki, while delivering his keynote address, advised participants to apply modern agricultural techniques in order to improve production as an alternative means to generate income. “While we must continue to encourage small farm holdings to improve and obtain modern

technology, we must address the policy of mechanisation, characterisation using technology’’, he explained. He stated that the state government had promised to synergise with the federal government to revive and reclaim the nation’s arable lands, which have not been put into optimal use over the years. He also unveiled some economic strategies which according to him include some key areas such as making land accessible for usage, providing security and infrastructure, driving agriculture from the top and not bottom, and giving the necessary support towards achieving the desired objective. Also speaking at the event, Captain Osa Okunbor, a renowned farmer, noted that the workshop was timely and laudable even as he urged all the stakeholders to key into it and join hands with the state government to achieve its agricultural development plan with a view to bringing the state back to its pride of place.

Former President of the Nigerian Bar Association (NBA) and Chairman of Body of Benchers, Chief Thompson Okpoko (SAN) has advocated the establishment of a National Prosecution Service in the fight against corruption in the country. He said suggestions for specialised court system for corruption cases should be handled with care to ensure that it does not violate section 36 of the constitution, noting that even at that, there is no evidence that it will fare better than ordinary High Courts. Okpoko made his position known weekend at the Second Matriculation of 270 students and First distinguished lecture of Edwin Clark University, Kiagbodo in Burutu Local Government area of Delta State. Delivering a lecture titled ‘Collective Responsibility for Cleansing the Nigerian Nation of its Social Cancer’, he maintained that there is no evidence that specialised courts would solve the problems in prosecution of corrupt cases. “If history is anything to go by, elections tribunals were established in response to the call for a specialised court system to deal with election matters. Today we are wiser. The election

tribunals operating today have not shown with conviction that corruption is not fully in place in the tribunals,” he said. Rather than establish specials courts for corruption cases, Okpoko maintained that it is more meaningful and sensible for the nation to establish a National Prosecution Service consisting of lawyers to be trained in prosecution of corruption cases nationwide. He said, “The suggestion here is that such a service be set up as an independent prosecuting body whose duty will be to conduct prosecution of corrupt cases and assisting investigators, EFCC and the regulatory authorities in the investigations of the complaint of corruption and money laundering, so as to ensure that the materials required in prosecuting a citizen of corruption is properly investigated and the results placed before the courts for all to see”. The Legal Luminary said it would be the duty of the National Prosecuting Service to direct the process of prosecution of corrupt persons through the ordinary court system, adding that by their training and experience, the Service could then reach out to experienced and trusted counsel in private practice to assist.

Safety Experts Seek Proactive Caution against Insecurity O……… ……………F…… …………… With insecurity posing a big threat to the financial and social stability of Nigeria, experts have sought for a conscious and proactive effort from individuals and institutions. The experts, who weighed these options as being reliable and sufficient in arresting security confrontation, also advised government to come up with a concrete and workable security plan that is acceptable with global standards and benchmark. Speaking in an interview with THISDAY, Programme Director of NFPWA, Mrs. Anthonia Beri, stated that security measures adopted so far had not yielded much fruit, adding that not many have an idea of the security plans

for the country whether it is preventive and passive. She noted as well that individual conscious effort at homes and work to curtail envisaged or actual dangers was also keen and needed to secure the national security. She cautioned that there was urgent need to correct certain fundamentals before the economic situation of the country gets out of hand, noting that a lot of resources had gone down the drain as a result of this challenge. “Nigeria has been ranked as the 127th most competitive economy in the world out of 138, according to the just released World Economic Forum’s 2016-17 global competitiveness report, a drop of three spots from the 124th in 2015-2016.”

T H I S D AY, T H E S U N D AY N E W S PA P E R Ëž ÍşÎ Ë&#x153; ÍşÍ¸ÍšÍż

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Wike: Stop Propaganda! Rivers Ceded â&#x20AC;&#x2DC;Impoundedâ&#x20AC;&#x2122; Helicopters to NAF

Anohu Promises to Unravel Mysteries in DFI

E C in Port Harcourt

The Ad hoc Committee Chairman investigating the activities of Development Finance Institutions (DFIs) in the House of Representatives, Hon Emeka Anohu, has promised that the committee would expose any illegal activities going on in the DFIs. Anohu, who disclosed this to journalists in Abuja after an investigative interaction with NERFUND, said the primary objective of setting-up DFIs was to help boost the economy and if that aim cannot be achieved, it means that the purpose has been defeated. According to him, â&#x20AC;&#x153;on interviewing and having interactive session with some of these agencies, we understand that some of our monies are being misused, primarily because there is no structure on ground to channel

Rivers State Governor, Nyesom Wike, has faulted the claim by the Nigerian Customs Service that the owner of the two helicopters it claimed were impounded and handed over to the Nigerian Air Force were unknown, insisting that the two helicopters were ordered by the state and that he personally suggested that they should be handed over to the Air Force. The Murtala Mohammed International Airport Command of Nigerian Customs Service (NCS) had last Friday claimed that it seized two Civil Model Bell Helicopters imported into the country by unknown importers. The Airport Customs Area Controller, Frank Allanah, who

put the duty paid value of the two helicopters and other accessories at N9,757,135,240.86, had said â&#x20AC;&#x153;the unknown importer could not produce end user certificate from the office of the National Security Adviser (NSA), an act which contravenes Section 36 subsection two, Customs and Excise Management Act (CEMA) laws of the federation of Nigeria 2004.â&#x20AC;? But Governor Wike disputed the claim at the weekend as he disclosed that he officially wrote to President Muhammadu Buhari asking that the two armoured helicopters bought by the immediate past administration in the state be handed over to the Nigerian Air Force. He explained that he wrote the letter following the high custom duty charged for the helicopters

and the refusal of the Federal Government to grant Rivers State Government a waiver to clear the two armoured helicopters. A statement issued by Simeon Nwakaudu, Special Assistant to the Rivers State Governor on Electronic Media, said Wike responded to the claim in a media interview yesterday in Port Harcourt. The governor said that it was unfortunate that security agencies would resort to political propaganda and outright lies, when the facts of the two armoured helicopters were public knowledge. He said: â&#x20AC;&#x153;These helicopters were imported by the immediate past administration. When I assumed office, we wrote to the Federal government that it was strictly for security use. What am I

goingtousearmoured helicopters for? â&#x20AC;&#x153;In any case, where will the Rivers State Government get money at this time to import armoured helicopters. The previous administration imported it because they had the money. â&#x20AC;&#x153;I went to the Federal Government to give me a waiver for us to clear the helicopters, but the Federal Government refused. I wrote a letter to the President and to assure him that the helicopters are meant for security purposes, it should be handed over to the Nigerian Air Force â&#x20AC;&#x153;. The governor added: â&#x20AC;&#x153;I am surprised that they have started propaganda and political falsehood on the said armoured helicopters. What kind of country are they turning Nigeria into?

NBS: Electronic Payment Transactions Hit N65tn in 2016 t Private sector credit, N59.56tn J E in Abuja The total value of electronic payment transactions in the banking system stood at N65 trillion in 2016, according to the National Bureau of Statistics (NBS). The total volume of electronic payment transactions was put at 910,186,115 transactions in the same period. According to the statistics agency, the channels through which these payments were directed included cheques, Nigeria Electronic Funds Transfer

(NEFT), automatic teller machine (ATM), point of sale (PoS), internet (web), NIBSS Instant Payment (NIP) and mobile payments. Transactions through ATM dominated the volume of transactions at N4.98 trillion with 590, 238, 934 transactions. Total volume of cheque transaction stood at 11,719,847 valued at N5.82 trillion in 2016. Transactions on Point of Sale (PoS) terminal was valued at N758.99 billion while mobile payment transactions for the

year under review was N756.89 billion. Pursuant to its goal of ensuring financial inclusion by 2020, the Central Bank of Nigeria (CBN) has said attaining the Payment System Vision 2020 (PSV 2020) would be the catalyst to revolutionise the payment system in Nigeria. According to the CBN, achieving the PSV 2020 would help facilitate economic activities as well as boost the financial inclusion drive of the CBN. To this end, the apex bank had in exercise of the powers

conferred on it by Sections 2 (d) and 47 (2) of the CBN Act, 2007, to promote and facilitate the development of efficient and effective systems for the settlement of transactions, including the development of electronic payment systems, had issued guidelines on operations of electronic payment channels in Nigeria. Payments through electronic channels are fast gaining traction in Nigeria. This is evident in the statistics of volume and value of transactions that have been done through the channels.

Ondo: Confusion in Assembly as Factions Claim Leadership Jâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; Sâ&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122; â&#x20AC;&#x2122;â&#x20AC;&#x2122; in Akure Confusion ensued in the Ondo State HouseofAssemblyyesterdayastwo factions of members of the legislative arm of government at separate news conferences laid claim to the leadershipoftheHouse. A faction had late Friday announced the impeachment of the Speaker, Hon. Jumoke Akindele, her Deputy, Hon Fatai Olotu, and the Majority Leader, Hon Dayo Akinsoyinu, alleging that the leadership of the House conspired to illegally approve the withdrawal of a sum of N15 million with intention

of embezzling it. The faction said a new leadership had emerged with Hon. Malachi Coker from Ilaje Constituency 1 for the position of new speaker; Hon. Ayo Arowele as the Deputy Speaker and Hon. Olamide George of Akure North as the Majority Leader. Addressing journalists at one of the news conferences, a legislator on the side of the new leadership, Hon. Ogundeji Iroju representing Odigbo Constituency, said there would be no going back on the impeachment of the affected officers. Though, 10 members were

present at the news conference, Iroju said 14 out of 26 members in the Assembly were at the sitting where the three principal officers were removed while 20 members of the House actually signed their impeachment notice. Iroju said the former leadership of the House conspired and approved the withdrawal of a sum of N15 million from the treasury of the Assembly without following due process laid down by the rules of the House. He said when they heard that the money was about to be withdrawn, they objected but the

removed speaker denied. â&#x20AC;&#x153;After the denial, we began to watch the situation until we caught them. We intercepted the money and the Clerk of the House Mr Bode Adeyelu, who is the Chief Accounting Officer confirmed that the money was withdrawn with the approval of the speaker. â&#x20AC;&#x153;The withdrawal of the money ought to be in line with the Parliamentary approval, but this did not happen in case of this money. We have recovered the money and it is in the custody of the Clerk. We shall use the money to pay salaries of workers in the Assembly.â&#x20AC;?

A O

those funds to get to the people that actually require those funds.â&#x20AC;? Investigations and interactions, Anohu disclosed â&#x20AC;&#x153;are still on-going. Recently, on NERFUND presentation, we discovered a lot from that. How can a manager say somebody was hired to recover funds already expended? It means thattheprimaryobjectiveofsettingup those DFIs has been defeated, because you are now going to look for money, you are not directing the money to help boost the economy when it is in recession, so it is a floor. â&#x20AC;&#x153;NEXIM Bank did their presentation on Thursday. We will also hear from Bank of Agriculture, Federal Mortgage Bank of Nigeria etc. The investigation is still on and I can assure you that we will unravel mysteries. Well, we asked for documentation prior to our interactive session with the BoI, and we were supplied most of the information required.â&#x20AC;?

Minister Tasks States over Ondo Millennium Abattoir Federal Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has declared the Semi Mechanised Abattoir built and unveiled by Governor Olusegun Mimiko as up to the World Health Organisation, (WHO) standard just as he challenged other state governments to emulate Ondo State. In the same vein Council of Nigeria, and Professor of Veterinary Public Health and Provost Federal College of Animal Production and Health, Vom, Jos, Prof Garuba Sharubutu, declared that the unveiling of the Semi Mechanised Abattoir, will remove the state from those with

high predisposition to infections. Ogbeh said this as the Guest of Honour at the unveiling of the Abattoir, Ado-Ekiti road, Akure. â&#x20AC;&#x153;I want to commend the resolve of the government to build an Abattoir of WHO standard and challenge other state governments to consider emulating this great state. This infrastructure will no doubt hold the key in the provision of hygienically processed meat which will enhance good, healthy eating habits, job opportunities for those who will be directly involved, as well as other markets which its presence will attract and developâ&#x20AC;?, Ogbeh said.

Unilever Commits to Growth of Economy The Africa President of Unilever, Mr. Bruno Witvoet, has reiterated the companyâ&#x20AC;&#x2122;s commitment to actively contribute to enhancing local manufacturing in Nigeria. Bruno said this during a recent visit to the Governor of Kaduna State, Mallam Nasir El-Rufai. He was accompanied on the visit by the Leadership Team of Unilever Nigeria. The Africa president commended the development strategy of the Governor in ensuring the

state is inclusive in economic growth and socio-economic transformation which translates into substantial improvements in the quality of lives of Kaduna citizens. In the same vein, Witvoet signed a Memorandum of Understanding (MoU) with the Governor on the Kaduna Emergency Nutrition Action Plan (KADENAP), an initiative championed by the Wife of the Governor, Hajia Aisha (Ummi) Garba El-Rufai aimed at tackling anaemia/ malnutritionintheState.

T H I S D AY SUNDAY JANUARY 29, 2017

T H I S D AY, T H E S U N D AY N E W S PA P E R ˾ JANUARY 2922017

SUNDAYSPORTS

E Demola Ojo E demola.ojo@thisdaylive.com

Australian Open: Serena Beats Venus, Sets Grand Slam Record

erena Williams beat sister Venus in straight sets to win her seventh Australian Open and an Open-era record 23rd Grand Slam singles title. Serena, 35, won 6-4 6-4 to pass Steffi Graf in the all-time list of major winners since the Grand Slams accepted professional players in 1968. The American regains the number one ranking from German Angelique Kerber. Australia’s Margaret Court, with 24, is the only player still ahead of Serena in terms of Grand Slam singles titles. “Congratulations Serena on number 23,” said Venus, who at 36 is the oldest Australian Open finalist in the Open era. “I have been right there with you, some of them I lost right there against you. It’s been an awesome win. “I’m enormously proud of you, you mean the world to me. I, God willing, would love to come back. Thank you for all the love.” Serena paid tribute to her sister, who was playing her first major final for eight years, saying: “There’s no way I would be at 23 without her. There’s no way I’d be at one without her. She’s my inspiration. She’s the only reason I’m standing here today. She’s the only reason the Williams sisters exist. Thank you for inspiring me. Every time you won this week, I felt like I got a win too.” Serena went into the match as a strong favourite, but the tension was apparent as early as the third game when she smashed a racquet in frustration, receiving a code violation. She had broken serve in the first and third games only to hand the advantage straight back each time, three double faults inexplicably littering a desperate game for 2-2. It was clear the six-time champion was struggling to settle, with 13 unforced errors

in the opening five games, while elder sister Venus kept her under pressure with some deep hitting. The decisive move of the set came with a superb drop volley followed by a thumping forehand winner from Serena to break for 4-3, and this time she managed to consolidate on serve. In contrast to the opening stages, the following nine games went with serve - Venus recovering superbly from 0-40 early in the second set - but it was Serena who was creating the chances. She finally capitalised on her sixth break point of the set with a brilliant return to lead 4-3 and followed it up with her best service game of the match for 5-3. The crowd on Rod Laver Arena had been backing Venus from the beginning as she tried to win a first major title for eight years, and all the more so as defeat loomed and she appeared to struggle physically. There was a huge cheer when she held serve to force her sister to serve out the match, but Serena recovered from 15-30 to earn match point and fell back on the court in celebration as her sister sent the ball floating wide. ‘I enjoy seeing Williams on the trophy’ Yesterday’s final was the 28th instalment of the sisters’ on-court rivarly, which began at the Australian Open back in 1998, with Serena now 17-11 ahead and 7-2 up in Grand Slam finals. Venus, who turned professional in 1994 and has won five Wimbledon and two US Open titles, insisted she was not too disappointed after reaching her first major final since 2009. “No, because I guess I’ve been here before, “she said. “I really enjoy seeing the name ‘Williams’ on the trophy. This is a beautiful thing.”

S 23 G S

CAF: No Proof Pitches AFCON: Ghana Play DR Congo, Egypt Face Morocco Caused Injuries

he Confederation of African Football has rejected claims that the poor pitches at the Africa Cup of Nations in Gabon have led to player injuries. Ghana boss Avram Grant insisted “five injuries have been down to the pitch”. Of the four pitches used Port-Gentil’s has been most criticised, but it will host today’s Egypt v Morocco quarter-final and the third place match. “It has not been scientifically proved that injuries are related to the pitch,” said Caf’s Junior Binyam. The governing body’s media spokesman added to BBC Sport: “Journalists are assuming that the injuries are down to the pitch but we cannot certify that is the case. Even in the English Premier League, which is considered to have the most beautiful football pitches in the world, you have injuries occurring. “Pending scientific advice, the organising committee has considered that things may go on as scheduled - PortGentil will host the quarter-final and the third-place play-off was clearly expressed prior to this tournament that the Port-Gentil pitch was a matter of concern. Thankfully we have had a chance to give the pitch a rest and undertake necessary repairs, so we hope to have a better surface for the quarter-final.”

AFCON FIXTURES DR Congo Egypt

v v

Ghana Morocco

5pm 8pm

R Congo are battling to get several players ready in time for their Africa Cup of Nations quarter-final against Ghanatoday.Thelatestplayerontheir injury list is Chancel Mbemba, who joined the However, Mbemba did manage to train yesterday. Jordan Ikoko and Gabriel Zakuani are improving slowly, and have a 50% chance of playing. But Birmingham City’s Jacques Maghoma is definitely out. The Congolese fans have been magnificent in Gabon, creating a presence that has lifted their team, andIbengeiseagertogivethemmoretohappyabout. “Football, music and religion, that’s the Congo,” he said. “We have a population that has gone through difficult times and at the moment football gives them joy. I am happy because the whole country is happy. And this little piece of happiness, you cannot imagine howgooditfeels.”Ghanaareexpectedtohavecaptain Asamoah Gyan available after fears were eased over the striker’s fitness, following an injury he suffered against Egypt on Wednesday, But the Black Stars’ preparations have been hit by travel delays that mean they arrived in Oyem only on Friday. Coach Grant is hoping for a more suitable play-

ing surface in Oyem than they had to deal with in Port-Gentil during the group stage. “I hope the pitch is better than there because it was not good for everybody,” Grant said. The Israeli also sounded a warning to his team not to be complacent. “Two giants, in my opinion, in Ivory Coast and Algeria, are out of the way so it’s a good wake-up call to all the people that think they are a big team and that it’s enough,” Grant said. “It’s not enough. You need to prove it on the pitch.” Meanwhile, Frenchman Herve Renard can take a step closer to winning a third Africa Cup of Nations crown when he leads Morocco into a quarter-final against Egypt in Port-Gentil today. Renard’s side eliminated the Ivory Coast, who he led to the title in 2015, to reach the knockout phase of a Nations Cup for the first time since 2004. Also the architect of Zambia’s unlikely triumph in 2012, Renard’s aim now is to become the first coach to win the title three times with three different countries. It would be another triumph against the odds, given the number of key players Morocco lost to injury before jetting off to Gabon, but they displayed their fighting qualities to make it out of their group.

Federer, Nadal Renew Rivalry in Dream Final

s Roger Federer and Rafael Nadal won match after match at the Australian Open, making their unlikely way through opposite sides of the draw, tennis fans couldn’t help but look ahead. Could the two old rivals, almost six years on from their last meeting in a Grand Slam final, possibly meet for one more match for the ages in Melbourne? Federer and Nadal each had to survive epic fiveset matches in the semifinals, but they did not disappoint. And now, the dream final tennis fans had hoped for when favorites Andy Murray and Novak Djokovic were upset in the first week is going to happen today Rod Laver Arena. What’s at stake is bigger than just Federer-Nadal XXXV, or even the Australian Open title. There’s also his-

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tory to play for: If Federer wins, he’ll add an 18th Grand Slam trophy to his career record total, putting distance between himself and his rivals. If Nadal wins his 15th, he’ll pass Pete Sampras for

E A F ft ﬁ M E G “It is already a privilege to be in the last eight but now we need to be much more ambitious than that,” Renard said. Sometimes the African Cup can be more difficult than this so when you are lucky enough to safely negotiate the group stage against very strong teams you need to seize the opportunity. It would be extraordinary if we could go a lot further.

sole possession of second place on the all-time list, and pull tantalizingly close to Federer’s 17. ‘’The historical context of that match, whether it becomes 17-15 with the French Open next, or 18-14, that’s such a big difference in the historical march for both those guys,’’ former U.S. Open champion Andy Roddick told The Associated Press in Melbourne a few days ago. ‘’That might be, as far as history goes, the biggest match ever in Australian Open history and maybe Grand Slam history. What’s at stake there is beyond what pretty much any player can comprehend.’’ The magnitude of the moment is not lost on the players themselves. ‘’Rafa’s definitely presented me with the biggest challenge in the game,’’ Federer said after his semifinal win over U.S. Open champion Stan Wawrinka. ‘’I’m happy we’ve had some epic, epic battles over the years, and of course, it would be unreal to play here.’’

SUNDAY JANUARY 29, 2017 T H I S D AY

T H I S D AY, T H E S U N D AY N E W S PA P E R Ëž Í°ÍˇË&#x153; Í°ÍŽÍŻÍľ

High Life

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...Amazing lifestyles of Nigeriaâ&#x20AC;&#x2122;s rich and famous

Dazzling Wings of Steel! Forget Recession, Some Nigerian Billionaires Still Maintain Private Jets Ëž Ă&#x2019;Ă?Ă&#x153;Ă? Ă&#x201C;Ă? Ă&#x2039; Ă&#x2019;Ă&#x;Ă&#x2018;Ă? Ă&#x2018;Ă&#x;Ă&#x2013;Ă? Ă&#x152;Ă?Ă&#x17E;ĂĄĂ?Ă?Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2039;ĘŻĂ&#x;Ă?Ă&#x2DC;Ă&#x17E; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x161;Ă&#x153;Ă?Ă&#x17E;Ă?Ă&#x2DC;Ă&#x17D;Ă?Ă&#x153;Ă? Ă&#x17E;Ă&#x2122; ĂĄĂ?Ă&#x2039;Ă&#x2013;Ă&#x17E;Ă&#x2019;

hese men are institutions on their own. Besides their intimidating ZHDOWK DQG Ă&#x20AC;RXULVKLQJ EXVLQHVV concerns, they jointly constitute a IRUPLGDEOH IRUFH LQ DQ\ SROLWLFDO clime. Having attained great wealth and HPLQHQFH E\ GLQW RI KDUG ZRUN LQLWLDWLYH DQG SHUVHYHUDQFH WKH\ KDYH EHFRPH VR entrenched in the socioeconomic and SROLWLFDO V\VWHPV WKDW WKH\ KDYH EHFRPH V\VWHPV RQ WKHLU RZQ ZLWK WKH FDSDFLW\ WR H[HUW FRQVLGHUDEOH LQĂ&#x20AC;XHQFH RU SUHVVXUH RQ virtually every sector in the country with interesting results. 7KHVH PHQ HQMR\ WKH EHVW RI D FKDUPHG OLIH :KLOH WKHLU EXVLQHVV LQWHUHVWV H[WHQG EH\RQG WKH FRXQWU\ÂśV VKRUHV WKH\ DOVR RZQ LPSUHVVLYH FDSLWDO SURMHFWV UHVLGHQFHV DQG SURSHUW\ LQ WKH PRVW H[FOXVLYH QHLJKERXUKRRGV DW KRPH DQG DEURDG +RZHYHU WKHUH LV D KXJH JXOI EHWZHHQ WKH DIĂ&#x20AC;XHQW DQG SUHWHQGHUV WR ZHDOWK 7KH ODWWHU GHSLFW HYHU\WKLQJ WKDW LV ZURQJ ZLWK WKH DULVWRFUDF\ 7KLV LV EHFDXVH WKH\ SURMHFW noise over matter. With their arrogant PDQQHU WKH\ SXUVXH DFTXLVLWLRQV IDU EH\RQG their modest means. For instance, during IRUPHU 3UHVLGHQW *RRGOXFN -RQDWKDQÂśV administration, men and women that ought WR SDWURQLVH FRPPHUFLDO DLUOLQHV DFTXLUHG RU FKDUWHUHG H[SHQVLYH SULYDWH MHWV MXVW WR NHHS XS DSSHDUDQFHV DQG WKHLU PHPEHUVKLS RI WKH ELOOLRQDLUHVÂś FOXE 7KXV WKH\ ÂżOOHG XS WKH UXQZD\V DQG DLUSRUW KDQJHUV ZLWK DLUFUDIW that glistened with their wantonness and lust for counterfeit status. Fast-forward to Muhammadu Buhariâ&#x20AC;&#x2122;s era, and you see a radical downturn in the fortunes and status of WKHVH SULYDWH MHW DÂżFLRQDGRV 7RGD\ EHFDXVH RI WKH VWHHS H[FKDQJH rates and the economic recession, many of WKH SULYDWH MHW RZQHUV KDYH ORVW SRVVHVVLRQ of their dazzling wings of steel. As you read, QR IHZHU WKDQ SULYDWH MHWV KDYH EHHQ GH registered with the aircraft either sold off RU UHWXUQHG WR WKHLU RZQHUV DEURDG 7KH GHYHORSPHQW LV DOOHJHGO\ FRQQHFWHG ZLWK WKH economic downturn and the high cost of PDLQWDLQLQJ D SULYDWH MHW ZKLFK LV VDLG WR KDYH GRXEOHG LQ UHFHQW WLPHV $Q DYHUDJH VXP RI DERXW 1 PLOOLRQ DW 1 ZRXOG EH QHHGHG SHU KRXU WR PDLQWDLQ D SULYDWH MHW Besides, the cost of fuelling the aircraft has DOVR LQFUHDVHG E\ RYHU SHU FHQW $ OLWUH RI -HW $ ZDV VROG IRU EHWZHHQ 1 WR 1 HDUO\ ODVW \HDU EXW WKH SULFH KDV MXPSHG WR RYHU 1 DW WKH PRPHQW $OVR D SULYDWH MHW RZQHU SD\V ODQGLQJ SDUNLQJ DQG KDQGOLQJ IHHV OLNH DQ\ FRPPHUFLDO DLUOLQH VXFK SHUVRQ ZRXOG SD\ RYHU Ă&#x20AC;LJKW FKDUJHV IRU UHJLRQDO

DONE WITH THE LIGHTS! FOLLOWING ORDEAL WITH KIDNAPPERS, MARGARET EMEFIELE RETREATS FROM THE LIMELIGHT She is not a nameless column with a buried base. But having embraced simplicity like the fabled gasp of survival, Margaret Emefiele, assumes the life of a mushroom on whom the dew of heaven drops now and then. Following her nasty experience with daredevil kidnappers, the unassuming wife of the Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, has retreated into a life of extreme purity and simplicity.

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Mike Adenuga

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Tony Elumelu

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Margaret now shies away from the limelight. Findings revealed that the CBN governorâ&#x20AC;&#x2122;s wife has taken drastic steps to prevent a recurrence of her perilous ride on the coasts of death. She has changed her friends and reduced her social appearances. This is because she is still in the dark about how she became game and easy prey for her abductors. Margaret hasnâ&#x20AC;&#x2122;t recovered from the gruesomeness foisted on her by her abductors. Everyday heralds a fresh struggle through her ordeal but the meek and lovable woman is pulling through. Notwithstanding her

RQ )RUEHV OLVW DV $IULFDÂśV ULFKHVW KDYH WZR MHWV each, Tony Elumelu, Daisy Danjuma, Samad 5DELX 'DSR $ELRGXQ 7XQGH $\HQL 7XQGH )RODZL\R )RORUXQVR $ODNLMD DQG IHZ RWKHUV These are strong men at this time of recession.

increased security detail and measures, she lives like a woman who knows that her gated mansions can only offer little protection. Until her husband was appointed CBN governor, Margaret lived a very simple life. Unlike most rich, privileged high society wives, she painstakingly tamed and lessened her mortal fascination with self; and she succeeded where most of her peer failed. Margaret diminished desire and lust for acclaim despite her exalted status as the CBN governorâ&#x20AC;&#x2122;s wife.

SILENCED IN PLAIN SIGHT...

AMAZING LIFESTYLES OF DEPUTY BANK CHIEFS Ëž

Life is a drag to many deputy bank chiefs, in Nigeria. They are the negligible indices in the scheme of things. The quiet characters whose industry and worth are forever smothered in the raucous din of overcelebrated and publicity-hungry superiors. Thus the title: Deputy Managing Director (DMD), rankles many deputy bank chiefs, like rusty handcuffs on the wrists of severely misunderstood and underappreciated patriots.

T H I S D AY T H E S U N D AY N E W S PA P E R Ëž Í°ÍˇË&#x153; Í°ÍŽÍŻÍľ

HIGHLIFE

Pageantry at Jumoke Okoya-Thomasâ&#x20AC;&#x2122; 60th Anniversary Ëž Ă&#x2039;Ă&#x2018;Ă&#x2122;Ă? Ă?Ă&#x2122;Ă?Ă&#x201C;Ă&#x2039;Ă&#x2013;Ă&#x201C;Ă&#x17E;Ă? Ă&#x2019;Ă&#x2122;Ă?Ă&#x17E;Ă? Ă&#x2019;Ă&#x201C;Ă&#x2018;Ă&#x2019; Ă?Ă&#x2122;Ă?Ă&#x201C;Ă?Ă&#x17E;ĂŁ Ă&#x17E;Ă&#x2122; Ă&#x2014;Ă?Ă&#x2014;Ă&#x2122;Ă&#x153;Ă&#x2039;Ă&#x152;Ă&#x2013;Ă? Ă&#x152;Ă&#x2039;Ă?Ă&#x2019;

he Nigerian high society listed like a cruise ship and literally burst at the seams, on Friday, 20 January 2017, when Princess Olajumoke Abidemi Okoya-Thomas celebrated her 60th birthday. The event took place at the Oriental Hotel, Ozumba Mbadiwe Road, Victoria Island, Lagos. The very grand party featured a heavy A-list of notable personalities, drawn from all the facets of the Nigerian social circuit. We gathered that the birthday celebration kicked off with a Thanksgiving service, which was officiated by Pastor J.T. Kalejaiye of the Redeemed Christian Church of God, RCCG, and Pastor Ituah Ighodalo of the Trinity House (the celebrant is an active member of his church). After the church service, a grand reception followed and this was anchored by Tunde Adewale (Tee-A). The colour dictate of the day was silver, and most of the female guests adhered to this theme. Forget the dark pall on her relationships in the past, Jumoke is living the good life. Notable among those

who graced the classy birthday party were Rt. Hon. Rotimi Amaechi, Aremo Segun Osoba, Otunba Niyi Adebayo, Senators Tokunbo Afikuyomi, Ganiyu Solomon, Oloruninbe Mamora, Daisy Ehanire Danjuma, Florence ItaGiwa, Folashade Bent, Hon. Femi Gbajabiamila, Hon. Mudashiru Obasa, Bolanle Ambode, Abimbola Fashola, Toyin Saraki, Hon. Titi Oseni, Aliko Dangote, Oba Otudeko, Are Rasaq Okoya and wife, Sade, Justice Adesola Oguntade and wife, Modupe, Bimbo Ashiru, Lanre Ogunlesi, Sisi Abah Folawiyo, Chief Kessington Adebutu, Teju Phillips, Sena Anthony, Foluke Abdulrasaq, Kemi Nelson, Dr. Tunde and Hon. Folake Oshinowo, Tayo and Tutu Ayeni, Chike and Funke Ogeah, Oba Lateef Adams, Foluso Adeagbo, Mike Inegbese, Yewande Onileere, Ireti Asemota, Fausat Aristo Balogun, Abiodun Aisen, Maureen Onigbanjo (Maufechi), Lola Adefusika, Titi Ogunbanjo, Biola Thomas, Joke Okeowo, Bimpe Ogunsanya, Toke Benson, Jibike Babatunde, Joko Oni and many others.

Like most deputy governors in Nigeria, Deputy Managing Directors of banks are not known. They are mere figure heads. People donâ&#x20AC;&#x2122;t reckon with them. Thus they are always quiet. Their superiors always take the shine off them. Itâ&#x20AC;&#x2122;s really sad. No wonder some people would say itâ&#x20AC;&#x2122;s better to be a branch manager than to be the DMD of a bank. How many DMDs have you heard about before? Certainly none! This is because they are kept as stooges or Personal Assistants to the Managing Director in every bank.

WHERE IS KASHIM BUKAR SHETTIMA Like a fading rose, Kashim Bukar Shettima quietly disappears from the social space even as you read. The owner of Sky Jet and the Barbedos Group of Companies, one of the largest business concerns in Nigeria has suddenly gone underground. Before he went underground, Kashim dominated the social scene and corporate business sector. His enterprise, Barbedos Group, flaunted a sound reputation and solid work ethics that is epitomized by the owner. Known as a relatively softspoken and straight-talking man, itâ&#x20AC;&#x2122;s surprising to learn that Kashim emerged from very

humble beginnings. But he attained success and eminence by dint of hard work. Subsequently, he nurtured many protĂŠgĂŠs and big players in the Nigerian social and business scenes. Some of them are still loyal to him while others have dumped him like a bad habit. The latter are the reason Kashim currently beats a retreat from the social arena; he is angry that people he helped to the top of the entrepreneurial ladder do not give a hoot about

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him. He tried to bounce back in the last government but all he could muster was a futile and feeble attempt.

VANITY BECOMES HER AMID RECESSION GOVERNOR AJIMOBIâ&#x20AC;&#x2122;S DAUGHTER ABISOLA PARTIES IN EXPENSIVE MINI DRESS Ëž ËŞ

Having been born into stupendous wealth, Abisola KolaDaisi nee Ajimobi, internalised a grand culture of graciousness and class at an early age. All she needs now is to acquire the inexhaustible ropes of humility and sincere modesty. But can the daughter of Oyo State governor, Abiola Ajimobi, acquire such traits? Pundits believe that the pretty, fashionable chic and firstborn of Oyo State governor is incapable of such feat. This is attributed to her expensive sophistication and taste for grandeur. It would be recalled that the fashion connoisseur, who is friends with a number of international celebrities including Kelly Rowland, made quite a statement when she was spotted at Kim Kardarshianâ&#x20AC;&#x2122;s much-talked-about wedding some years ago, wearing an haute couture Givenchy gown. The pretty mother of two, who

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is married to Kolapo Kola-Daisi, also generated a buzz recently when she dressed in a N1.5m mini dress to a party. The dress which she wore some weeks ago was a ÂŁ2,940 (N1.5M that was the foreign currency exchange rate then) Miu Miu embellished Printed twill mini dress. The mini dress is patterned with three key prints from the labelâ&#x20AC;&#x2122;s Resortâ&#x20AC;&#x2122;16 collectionâ&#x20AC;&#x201D; bold red stripes, swallows and a repeat illustration

Ë&#x153; Ëž JANUARY 29 2017

HIGHLIFE

B tt P P T B D C GO Ëž Ă&#x2039;Ă&#x2013;Ă&#x2013;Ă? Ă&#x17E;Ă&#x2019;Ă?Ă&#x2014; Ă&#x161;Ă?Ă&#x2DC;Ă&#x17E;Ă?Ă?Ă&#x2122;Ă?Ă&#x17E;Ă&#x2039;Ă&#x2013; Ă&#x153;Ă&#x2039;Ă?Ă?Ă&#x2039;Ă&#x2013;Ă?Ë&#x153; Ă&#x2014;Ă&#x2122;Ă&#x2DC;Ă?ĂŁ Ă&#x2013;Ă&#x2039;Ă&#x;Ă&#x2DC;Ă&#x17D;Ă?Ă&#x153;Ă?Ă&#x153;Ă?

ne falsehood spoils a thousand truths. Ask Pastor Tunde Bakare. The founder and General Overseer (GO) of the Latter Rain Assembly understands that if he fails to bellow the truth when he knows the truth, he undoubtedly makes himself the accomplice of liars and forgers. This perhaps explains his recent outburst and criticism of fellow Pentecostal pastors. Bakare recently lampooned church leaders who were against the governance code issued by the Financial Reporting Council of Nigeria calling them â&#x20AC;&#x2DC;money launderersâ&#x20AC;&#x2122; who were trying to cover up their â&#x20AC;&#x2DC;iniquities.â&#x20AC;&#x2122; He revealed that pastors opposing the act were desperately trying to prevent the public from knowing about the crimes of money-laundering they had indulged in by virtue

of their positions. He however described some pastors as â&#x20AC;&#x153;Pentecostal, charismatic rascalsâ&#x20AC;? who do whatever they want even if the law says otherwise. He made the assertion soon after Pastor Enoch Adeboye stepped down as the G.O of the Redeemed Christian Church of God (RCCG). Bakare criticised fellow pastors who condemned the governance code. Some popular pastors in Nigeria, especially Winners Chapel founder, Pastor David Oyedepo, had condemned the removal of one of their own. This incited Pastor Bakareâ&#x20AC;&#x2122;s harsh condemnation of his fellow clerics. Interestingly, Oyedepo and co are surprisingly quiet in the wake of Bakareâ&#x20AC;&#x2122;s outburst. They probably dread exchanging words with the Latter Rain Assembly founder.

of a posed nude woman. Pundits argue that Abisolaâ&#x20AC;&#x2122;s display of wealth seems inappropriate for the daughter of a public office holder, who is unable to pay civil servantsâ&#x20AC;&#x2122; salaries even as you read. Governor Ajimobiâ&#x20AC;&#x2122;s daughter definitely needs to cut down on her ostentatious lifestyle lest she incurs the wrath of her people.

skins and ruffles temperaments like medieval battle spears, The Emir of Kano, HRH Sanusi Lamido Sanusi, has spoken the truth and it will have to be swallowed by the northern elite. Recently, Sanusi urged wealthy Muslims in the north to stop building mosques and instead divert the resources to educating their girls. According to him â&#x20AC;&#x153;Iâ&#x20AC;&#x2122;m just tired of people coming to me to say I want to build a new mosque. You know, we keep building mosques and our daughters are illiterates. So, my appeal is that if you really want to help Kano, donâ&#x20AC;&#x2122;t come to me

THE EMIRâ&#x20AC;&#x2122;S EPIPHANY...SANUSI LAMIDO SANUSI STICKS IT TO NORTHERN ELITE Ëž Ě&#x201C;

Even if his words land on

Sanusi Lamido Sanusi

Tunde Bakare

with a request to build a N300m mosque because I have enough mosques everywhere. And if I donâ&#x20AC;&#x2122;t have a mosque, Iâ&#x20AC;&#x2122;ll build it myself. If you really want to help, go and educate a girl child in the village.â&#x20AC;?

TROUBLE IN PARADISE... INTRIGUES AS YOMI FOLAWIYOâ&#x20AC;&#x2122;S MARRIAGE CRASHES Ëž Ë&#x153; Ë&#x153;

Discord rattles the marriage of Bimbo and her husband Yomi Folawiyo, like a guava tree caught in the path of a thunderstorm. As their marriage winds to a sad end, the couple engage each other in an ugly slugfest thus giving vent to that reciprocal struggle of discordant passion that elicits hatred and dissension between estranged lovers. The ill-fated marriage broke up some Mondays ago after a messy fight. Folawiyoâ&#x20AC;&#x2122;s wife, Bimbo, called him out for seeking their childâ&#x20AC;&#x2122;s custody. They even took their fight to the social media. For instance, Bimbo posted on Instagram few days ago that Yomi is seeking the custody of the only daughter in their marriage. Sharing the picture of the child, she wrote: â&#x20AC;&#x153;Us right now laughing our ass out. U denied my child, u tarnished my name, u paid mi evil for being good to u, u left, u tarnished my fatherâ&#x20AC;&#x2122;s name, u tried to sell out my uncle, u claimed my child was dead to get sympathy from public, u taught u were bringing mi down but ur lies lifted mi up cos I was true to u. Now u want custody of a child u denied?????? I will rather die than watch that happen. You claim am not responsible. oh u r the responsible one ????? You

destroyed my fatherâ&#x20AC;&#x2122;s name Kashaam with lies yet u want to protect urs???? No way!!!!!!â&#x20AC;? (sic). Bimbo, who has separated from Yomi, who is one of the sons of the late Baba Adinni, Alhaji Wahab Iyanda Folawiyo, alleged in an interview with City People, that Yomi pronounced their daughter dead just to borrow money from friends. A close friend to the estranged couple disclosed that their once rosy marriage suddenly became a bed of thorns at the interference of Yomiâ&#x20AC;&#x2122;s friends. Another claimed Yomi suffered violence in the hands of Bimbo as she beats him at every opportunity. Bimbo reportedly failed to perform her duties as a wife rather she concentrated on her social life and business. Yet she allegedly prevented Yomi from hanging out with his friends. It would be recalled that Yomi also left his first wife and kids to marry Bimbo as a trophy wife years ago.

Yomi Folawiyo

Sunday January 29, 2017

UT H

& RE A SO

Price: N400

MISSILE Northern Youths to Obasanjo “While President Muhammadu Buhari is on vacation and with so much fuss over the President’s decision to undergo medical examinations during his vacation, it is confounding to ﬁnd an elder in the status of a former president needlessly criss-crossing the length and breadth of the country and discussing a successor to a sitting president.” – Northern Progressives Youth Initiative reacting to former President Olusegun Obasanjo recent pronouncement that the South-east region should produce the president in 2019.

SIMONKOLAWOLE SIMONKOLAWOLELIVE!

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On the Bloodbath in Southern Kaduna

igh. Usually, the most tricky topic for me to discuss regarding Nigeria’s nationhood is religion and ethnicity. Difficult to discuss not because I’m afraid of being verbally molested and splashed with mud, but because emotive issues hardly lend themselves to reason. Ethno-religious matters are so emotionally charged that reason is always the first casualty. When emotions trump reason, we can never reach a consensus on finding lasting solutions. Yet it is solutions, not emotions, that we need in these trying times. We badly need peace. You will say there cannot be peace without justice — and I will add that there cannot be justice without reason. Whenever I read reports and comments on the southern Kaduna crisis, the first question I ask myself is: so what exactly is responsible for the latest round of killings? I am yet unable to put my finger on the justification for the carnage. I may here recall historical tensions between the Christian and Muslim communities in northern Nigeria. I may allow myself to speculate that these historical tensions habitually reach a tipping point with the slightest hint of friction. I am thus induced to think that the Kaduna carnage resulted more from age-long deep-seated mutual hate and animosity rather than recent events. It takes only a little spark to start another explosion. To understand the context, I cannot doubt that the issue of framing is at play in the Kaduna crisis. It has been successfully framed in the media (not by the media) as a religious war. This is understandable. Southern Kaduna is predominantly Christian and the Fulani herders are Muslims. It is somewhat expected to be cast as Christians vs Muslims rather than Kaura, Sanga et al vs Fulani herders. This is the same way the Berom vs Fulani in Jos north was cast as Christians vs Muslims. It just so happens that people in the same local grouping are not unlikely to be of the same religion. Ethno-religious framing is thus inevitable, even if the core issues have nothing to do with religion. Indeed, in northern Nigeria, primary identities are constructed around religion. You are first a Muslim or a Christian before you are a northerner. Whenever there is a clash, therefore, the issue at hand does not really matter — Christians (including those from southern Nigeria) will automatically queue up behind Christians and Muslims behind Muslims. Compare and contrast with the south where conflicts are not framed around religion, insofar as religion is not the actual cause. If southern communities fight over economic issues, such as land and water resources, it is automatically treated with the template of communal clash. In Ebonyi state, Ezza and Ezillo communities in Ishielu local government clash quite often over land. On a single day, December 31, 2011 to be specific, 66 persons were killed, including pregnant women, men and children. It was a communal clash since they are all Igbo Christians. Recently, 40 persons were killed in a communal clash between Ntan Obu-Ukpe in Cross River state and Ikpanya in Akwa Ibom state. Also recently, 10 persons died in a communal clash between Usumutong and Ediba in Cross River. But 800 people were killed in a religious war between southern Kaduna villages and Fulani herders. Religion catches more national attention, in any case. Down south, identities are, in the main, constructed around ethnicity but rarely religion. You are first a Yoruba, Igbo, etc before you are

El-Rufai a southerner. When Mr. Babatunde Fashola, as governor of Lagos state, “deported” homeless Igbo to Onitsha in 2012, it was framed as Yoruba vs Igbo. It was not treated as a case of Muslims vs Christians even though Fashola is a Muslim and the “deported” Igbo are Christians. (Let me quickly digress: northerners will complain about the number of federal appointments based on the number of northern Muslims on the list — whereas southerners will first look at the number of Igbo, Yoruba, etc, before other criteria.) If Malam Nasir el-Rufai, governor of Kaduna state, were to “deport” homeless Berom to Plateau state, it has to be Muslim vs Christian since el-Rufai is a Muslim and the Berom are Christians. Contrast with Mr. Simon Lalong, governor of Plateau state, “deporting” homeless Tiv to Benue state. Since Lalong is a Christian and the Tiv are mostly Christian, the “deportation” will be framed differently. That is why even though bandits (most likely the same

Truth be told: in southern Kaduna, Nigeria failed its citizens. This led to reprisal and self-defence. Whether you are a Fulani herder or a Atyap, the Nigerian state owes you the basic duty of protecting your life and property

people operating in southern Kaduna) have for long been terrorising Zamfara communities, killing over 300 in the last one year, it is not framed as a religious war but banditry. After all, it is Muslims killing Muslims. We may, at this point, return to the southern Kaduna carnage. What is basically a case of criminality has taken the colour of a religious war. Not unexpectedly, our religious fault line is being magnified one more time by agents of war. Identity, twinned with political preferences and limited economic opportunities, are not only mobilisable but highly combustible. Predictably, Christians are queuing up behind Christians and Muslims behind Muslims. The real issues of criminality and insecurity — which bedevil all Nigerians irrespective of tribe and tongue, region and religion — are hardly discussed. Most reactions start and stop with religion. I must think that in all our outpour of emotions, we need to address the root causes of this carnage. I have not set out to deny that there is a religious content to the crisis in Kaduna. Instead, I have sought to prove the source of the tensions, suggesting that religion is latent rather than pertinent. It gets even worse when political leaders and security agencies are thought to be looking the other way while these killings are being perpetrated. I am compelled to that I have not set out to further inflame passions. I am unable to compete, in this regard, with the clerics who are spitting fire and threatening brimstone rather than playing the role of the blessed peacemakers. In these challenging times, what would Jesus do? What would Jesus preach? What would Jesus advocate? An eye for an eye? I understand the frustrations and the disappointment with government handling of the carnage, but under no circumstance must we advocate more violence as the solution. Our energies, I propose, should focus on how to end the bloodbath. We should seek to be problem solvers, not problem multipliers. We should demand that the government live up to its responsibility. Truth be told: in southern Kaduna, Nigeria failed its citizens. This led to reprisal and self-defence. When the state fails in its duty, anarchy is the consequence. The primary reason there is a government is to prevent anarchy. The state exists principally for the purpose of security, law and order. Monetary policies and siren-propelled convoys are secondary. Every local government in Nigeria has at least one security attaché from the Department of State Services (DSS). The job of the attaché is to gather intelligence. Where were these security attachés before the Kaduna killings erupted? What intelligence did they gather? What reports did they file? When tension started building up, did they report it? If they did, what action did the authorities take? Do people pile up arms and start killing one another within one hour? It would seem to me that the DSS and police are more interested in the politics of Rivers and Ekiti states than the security of lives and property of Nigerians. The energies they have devoted to playing politics could have been better utilised protecting the lives of defenceless Nigerians. I repeat: the Nigerian state has woefully failed its citizens. The blood of the people killed in southern Kaduna — whether Christians or Muslims — will continue to haunt the Nigerian authorities who failed to protect them in their hour of need. In civilised societies, heads of security agencies would have resigned by now for their ineptitude. But, remember, we’re discussing Nigeria here. Sigh.

And Four Other Things... DEATH WISH Why do some people wish President Muhammadu Buhari dead? Who are the people pushing the tasteless rumour that he is dead? Who are the jokers behind the rumour that northern governors met with former military leaders, Generals Ibrahim Babangida and Abdulsalami Abubakar (when both men were, in fact, out of the country) and took a decision to force Vice-President Yemi Osinbajo to resign and allow Senate President Bukola Saraki to take over? What do people benefit from concocting these senseless rumours? To create tension in the land? To further poison a polarised polity? To set Nigeria on fire? Insanity. BIG BOTHER Why is Big Brother Naija being shot in South Africa? I don’t know. I won’t be surprised if the organisers calculated the cost of diesel (N260 per litre) before opting to take a rational decision. The federal government is so bothered it has ordered the National Broadcasting Commission (NBC) to investigate the affront. Next step: federal government will order the ministry of health to investigate why President Muhammadu Buhari went to the UK for medical check-up rather than use the Aso Rock clinic or National Hospital, and then order the ministry of tourism to investigate why the president is having his vacation in London rather than in Obudu or Yankari. Contradictions. INDIGENES VS SETTLERS Northern governors met in Kaduna last week and lamented the national shame called indigene/settler dichotomy. They declared: “Every Nigerian could conveniently settle in any part of the country without suffering any form of discrimination.” Good. Great. The governors should then use their good offices to effect a constitutional change. At a point in American history, George W Bush was governor of Texas and his brother, Jebb, was governor of Florida. Both were born by the same parents. Why then do Nigerian politicians admire and talk about America so much and then fail to emulate the best practices from their systems? Convenience. GENIUS TRUMP US President Donald Trump seems determined to fulfil his campaign promise of building a wall to check Mexican migrants. He also curiously said Mexico would pay for the wall, which will cost an estimated $25 billion. Mexico says it will not pay, so Trump has come up with an ingenious idea: he will impose a 20% duty on Mexican imports to pay for the wall. In practical terms, a car import from Mexico that would normally sell for $100,000 would go up to $120,000, and the $20,000 “gain” would go into building the wall. Who will pay the difference in price? American consumers. Who then is actually paying for the wall? Brilliant.

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