Monday 20th February 2017 by THISDAY Newspapers Ltd

Osinbajo Rejects New Official Residence for Vice President Says Aguda House good enough for him Tobi Soniyi in Abuja

what to do with the new official residence built for the vice president by the administration of Goodluck Jonathan.

The Office of the Vice President yesterday said that the federal government would decide

A statement issued yesterday in Abuja by the Senior Special Assistant to the Vice President on Media and Publicity, Mr. Laolu Akande said the

incumbent vice president, Prof. Yemi Osinbajo, was satisfied with living in Aguda House built in the 1990s by the General Ibrahim Babangida

administration He said that the new residence for the vice president, which already has 14 buildings almost completed, was not

originated by the present administration. He also said that since the Continued on page 10

Shettima Meets with Heads of Security Agencies over Resurgence of Boko Haram Attacks ...

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31 Days After, Nation Awaits Buhari’s Return

Lack of clarity on medical condition leaves many wondering Senate reconvenes tomorrow to consider president’s letter, Onnoghen’s confirmation Nigerians’ support for Buhari not in vain, says presidency

Omololu Ogunmade and Onyebuchi Ezigbo in Abuja Thirty-one days after President Muhammadu Buhari left the country, supposedly on a vacation for ten working days, an air of mystery continues to prevail over the status of the president’s health and when he would return to the country, despite the numerous adjectives

ranging from “hale and hearty” to “witty”, provided by the presidency, Minister of Information, Lai Mohammed, and the leadership of the National Assembly to describe the president who remains holed up at the Abuja House, London, for unclear reasons. The president left the country on January 19, Continued on page 10

Ex-NNPC Boss,Yakubu, Fights Back, Asks Court to Set Aside Forfeiture of $9.7m

Tobi Soniyi in Abuja

A former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Andrew Yakubu has asked a Federal High Court in Kano to set aside the order of forfeiture granted to the federal government by the court on the cash sums of $9,772,800 and £74,000 that he had concealed in a fireproof

safe at a residence in Kaduna. In an application filed by his lawyer, Ahmed Raji (SAN) the former NNPC boss said the court that granted the forfeiture order had no jurisdiction to do so. He also contended that the Economic and Financial Crimes Commission (EFCC), which obtained the order from the court, did not follow the law Continued on page 54

IN MEMORY OF AMBASSADOR ISA WALI... L-R: Mrs. Fatima Wali-Abdulrahman; Major-General Suleman Wali (rtd.); Mrs. Maryam Uwais (nee Wali); and acting President Yemi Osinbajo, at the events held to commemorate the 50th anniversary of the death of the late Ambassador Isa Wali, in Abuja...yesterday kingsley adeboye

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PAGE TEN 31 DAYS AFTER, NATION AWAITS BUHARI’S RETURN 2017, a clear four days before the date indicated for the commencement of his vacation, stating that he would return to resume work on February 6. According to a letter dated January 18, 2017, addressed respectively to Senate President Bukola Saraki and Speaker of the House of Representatives, Hon. Yakubu Dogara, Buhari had said he would proceed on vacation for ten working days effective January 23, during which he said he would undergo a routine medical check up in the United Kingdom. Assuring that he would be back at his desk by February 6, Buhari said while he was away, his deputy, VicePresident Yemi Osinbajo, would act as the president and discharge the functions of his office. However on February 5, the presidency announced the extension of his vacation indefinitely, claiming that the president was waiting for the results of various medical tests conducted on him before leaving London. Since then, the nation has been treated with carefully choreographed photographs and platitudes about the state of the president’s health without explaining why a “hale”, “hearty”, “healthy” and “witty” president prefers to remain in cold and dreary London at the peak of winter instead of returning to his job in sunny, but dusty Abuja. Rather than being transparent about the state of the president’s health, or the date of his return, government functionaries, party officials and presidential aides have employed various clichés to paint a rosy picture of the president’s health.

While the vice-president on February 6, told the country that the president was “hale and hearty” judging from the conversation he said he had with him, Saraki and Dogara fell over themselves two days later to inform the country that they had spoken with the president on the phone and he was in “good spirits”. These claims were followed by photographs via Twitter posts from the presidency a few days later, showing the president receiving two leaders of the All Progressives Congress (APC), Senator Bola Tinubu and Chief Bisi Akande, who had visited him in London. The latest episode regarding the president’s continuous stay in London was the visit of Saraki, Dogara and the Senate Leader, Senator Ahmed Lawan, to him in London, which was also accompanied by photographs of the visit. While in London, Saraki issued a statement saying the president was “witty” and in “high spirits”. But Nigerians are beginning to get impatient with the excuses and socalled status reports on Buhari from the various organs of government that contradict his continuing absence from the country, Specifically, questions are being asked that if the president is indeed “hale and hearty”, “witty” and in “good spirits”, why has he failed to return to the country to govern? Several Nigerians are also questioning the rationale behind the excuses, arguing that they are untenable, flimsy and self-serving by telling the nation that the president is awaiting the results of medical tests in this technologically-driven

era when his test results could either be e-mailed to him, or his doctors flown to Nigeria with the results. According to them, it is disconcerting for a president, especially one who coveted and contested for the office for 12 years, to be waiting for mere medical results abroad indefinitely, while shirking his responsibilities at home. Although the president handed over to his deputy who has been performing the functions of his office since he left the country, pundits have said it is unacceptable for him to remain abroad indefinitely. History is replete with records of presidents who took ill while in office, but whose health status was not shrouded in secret from their citizens, However, as Nigerians wait for the truth on Buhari’s prolonged stay in the United Kingdom, the Senate will reconvene for plenary tomorrow to consider among others, Buhari’s letter extending his vacation in London and Osinbajo’s request for the confirmation of Justice Walter Onnoghen as the Chief Justice of Nigeria (CJN). A statement at the weekend by the Senate Committee Chairman on Media and Publicity, Senator Sabi Abdullahi, said when the Senate resumes plenary, it would continue legislation on the 2017 budget and other economic priority bills at different stages of work. Abdullahi said Senator Saraki would also read the president’s letters at plenary tomorrow. He added: “From tomorrow, various committees are expected to start submitting reports to the Committee on

Appropriation based on the schedule provided following the conclusion of the budget defence by the MDAs. “This will be followed by a compilation of the reports by the Appropriation Committee and engagement with the leadership of the Senate and interface with some committees where necessary. “The last stage of the budget process will be laying of the report at plenary by the Appropriation Committee, as well as the consideration and passage of the Appropriation Bill. “Simultaneously, the Senate will also begin to consider several economic reform bills that form the basis of the Red Chamber’s priority economic agenda. “This may see two of such bills – the Independent Warehouse Regulatory Agency Act and the Company and Allied Matters Act (CAMA) – come up during plenary sessions.” Meanwhile, the president’s media aide, Garba Shehu has remained unrelenting about showcasing the positives of the Buhari presidency, stating yesterday that Buhari fully appreciates the support and prayers of Nigerians and has promised to ensure enduring legacies before quitting office. He said the president would need the continued patience and understanding of Nigerians for him to build an enduring foundation for a better future. He said that apart from fixing the problem of insecurity that threatens peace and stability of the country, the president who has been in the United Kingdom for a month, was working hard to restructure the economy. Shehu, who spoke during an interactive session with

Nigeria students and youths organised by the Citizen Support for Good Governance in Nigeria (CSGGN) in Abuja at the weekend, urged Nigerians to appreciate the achievements Buhari has recorded in the areas of security and the fight against corruption. “He wants to build a future of prosperity, a future that will be everlasting. Something that will stay for generation upon generation and I assure you that this is a beginning of the good things to come,” he said. While insisting that Buhari means well for Nigerians, Shehu claimed that Boko Haram insurgents would have taken over the seat of power, Aso Rock, had the Peoples Democratic Party (PDP) under former President Goodluck Jonathan continued in office. Shehu said: “Your support for Muhammadu Buhari, I assure you, will not be in vain. If you look at him, he has achieved everything one desires to achieve. “He chose the military career and rose to become an army general. Beyond that he became a military head of state. “So if the ambition of one is to rule one’s country he has achieved that already. But President Buhari fought three times and won on the fourth count with the firm belief that he has something to offer the future generations of this country. “In essence, what I am saying is that he doesn’t have a personal wish for fortune, for power, to acquire houses or money. No, that is not Buhari. “He wants a future that is secure and stable for young generations that are coming, that is yourselves.

his needs. “While the new project is now about 85% complete, the federal government, in the circumstances, will decide at the appropriate time, what is the best use for the 14 buildings already on the project site.” Eyebrows were raised last week when the National Assembly queried the

N250 million allocated to the construction of a gatehouse for the new official residence for the country’s vice president which has already gulped billions of naira. It will be the second time the cost of constructing the exorbitant residence has raised dust in the National Assembly.

OSINBAJO REJECTS NEW OFFICIAL RESIDENCE FOR VICE PRESIDENT administration came on board in 2015, it had not committed a dime to the project. He said: “For the umpteenth time, we would like to clarify that the proposed plan of the immediate past administration to build a new official residence for the occupant of the Office of the Vice President, including the controversial gatehouse

preceded this administration. “The project which started in 2010, was initiated and funded by the immediate past administration, but had never featured in the two budget proposals of the Buhari administration: neither in the 2016 nor the 2017 spending plans. “Any suggestion, therefore, that this project benefits our

administration, or that it reflects our spending style or preferences is not only misleading but blatantly false. “Besides, the incumbent Vice President, Prof. Yemi Osinbajo, has said publicly that he considers Aguda House, which he currently occupies, a befitting official residence for the vice president and sufficient for

“This why, in his message, he has stayed on three key issues, he has repeated this over and over again. He says this country cannot make any progress without security. “Look at all the efforts that have been made in rolling back Boko Haram. There are many people who believed that had it not been for President Buhari and if PDP had continued to rule this country in 2015, Boko Haram would have taken over Aso Rock by now. So we have achieved so much in terms of security. “On the war against corruption, people were stealing money, huge amounts of money, the kind of money that they don’t need, what do you need that kind of money for? “Look at the one from Kaduna (GMD of NNPC), I was at another event and they said the man’s aunt said she wanted food, but he said there was no money. “Look at the huge amount of money in a neighbourhood that had no electricity, no road, no water, in the same compound in which you had low level working Nigerians. “They did not know that they resided in a compound with billions of naira from stolen funds that were kept there.” The presidential aide pleaded with Nigerians to remain patient with the Buhari administration, Continued on page 54

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Akwa Ibom State Governor, Udom Emmanuel (in black cap, centre), with members of the Senate Committee on Petroleum Resources at Government House, Uyo, Akwa Ibom State… yesterday

% 10.1 4.9 3.5 2.9 2.8 % 5.0 4.9 4.9 3.5 2.4

T H I S D AY MONDAY FEBRUARY 20, 2017

COMMENT

Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com

MAKING BIOTECHNOLOGY WORK FOR NIGERIA Alex Abutu argues that biotechnology holds a great promise for agriculture in Nigeria

he use of biological processes in industrial production is no more a new science. Experts and historians alike are of the opinion that biotechnology has actually been around for a very long time, because its early examples include the making of cheese, wine and beer. The later developments in science and technology widened its scope to include vaccine and insulin production; and its latest globally controversial product, genetically modified organisms (GMOs) also called transgenic organisms. It is understandable that this phase of biotechnology gave it its contemporary definition which has raised the issue of risk factors in some quarters. The field wields an undeniable power in the fact that it continues to be the pivot of global socio-economic and political revolutions since it came to the scene in the 1980s. The rapid growth and application of biotechnology is widely attributed to the development of genetic engineering (the alteration of genetic materials) in the 1970s. Some of the products developed in this manner include human insulin, and human growth hormone. The techniques of genetic engineering also offer the opportunity for a number of heredity disorders to be corrected by manipulation. This has led to successes in the treatment of various diseases and the popular breakthrough in the genome project. Biotechnology revolution promises a future of unprecedented health and longevity. The DNA screening could prevent many diseases while the gene therapy could cure diseases. Thanks to lab grown organs, the human body could be repaired as easily as a car, with spare parts readily available. Ultimately, the ageing process itself could be slowed down. According to the Food and Agricultural Organisation (FAO), biotechnology holds great promise for agriculture in developing economies such as Nigeria. This has provided the opportunity for basic food crops of the poor such as cassava, potato, rice and wheat to receive more attention by scientists. This simply means that a poor country like ours must concentrate on biotechnology based researches to improve its food and cash crops in order to eradicate hunger. To this end, simple and cheap scientific methods of plant breeding and disease prevention could be introduced in our agricultural activities to improve annual yields, supply better stocks for planting and make available large quantities of seedlings for farmers. Given the challenges of population increase and its attendant problems of pollution increase, biotechnology remains the most reliable means of environmental sustenance. The world is currently endangered; government and experts are concerned about the danger posed by pollutants (most of which are recalcitrant). Human activities in his environment involve a lot of chemical synthesis in the process of converting the natural products in his environment into other forms convenient for his consumption. In the quest for converting raw materials into finished goods and products for example, conversion of petrochemical substances into polythene products, the environment correspondingly becomes littered with substances not needed in the course of production. In the process of creating products, man has created problems either consciously or unconsciously vis-à-vis pollution. As a result, the most

ITS ROLE IN NATIONAL DEVELOPMENT INCLUDES PROVIDING THE TECHNOLOGY TO TRANSFORM THE AGRICULTURAL/ ENVIRONMENTAL SECTOR TO ENHANCE FOOD SECURITY, ENSURE INDUSTRIALISATION AND SUSTAINABLE ENVIRONMENT, CREATE JOBS, REDUCE POVERTY AND CREATE WEALTH

acceptable solution to the generated wastes in the environment is such that will conveniently integrate them back into the environment. That method involves the use of microorganisms such as yeasts, bacteria, or fungi as whole cell usage production system or in the form of industrial enzymes. In many cases these microorganisms or their products are integrated into the substrates which give us the products, desired in the industries. Biotechnology tools have long been used in many developed countries in the world such as the United States, Finland, Sweden, Germany, Japan, and others. Africa is still lagging from being integrated into these environmental sustainability best practices. Africa generally and Nigeria in particular have not imbibed maximally the benefit of using biotechnology in addressing issues associated with environmental degradation and maintenance of sustainable environment. In the oil rich Niger Delta, the lingering problem of environmental degradation from crude oil productions has remained a dominant issue of public discourse and concern. Crude oil spill affects germination and growth of plants which in turn affects the overall production of crops due to its negative impact on the chlorophyll content which is a marker of the yield of plants. Severe crude oil spill in the oil rich Niger Delta has forced some farmers to migrate out of their traditional home, especially those that depend solely on agriculture. The negative impact of oil spillages remains the major cause of depletion of the Niger Delta vegetation cover and the mangrove ecosystem. The Nigerian major cities such as Aba, Enugu, Onitsha, Port Harcourt, Kano, Ibadan, and Lagos are characterised by huge mounds of solid waste dumps (both bio-degradable and non-biodegradable) generated from households, industries, markets, schools, and street trading. This can be attributed to migration, population increase, urbanisation, constructions, and industrialisation coupled with inefficient and improper disposal of wastes. Biotechnological techniques to treat waste before or after it has been brought into the environment are components of environmental bio-tools. Bio-tools for the sustenance of the environment are those biotechnological processes that make use of bio-products as well as microorganisms for pollution reduction, production of environmental friendly products as well as general maintenance of the natural environment for the benefit of man and other ecosystem components. It is an aspect of environmental biotechnology concerned with prevention of processes capable of causing an unsustainable environment for man and eco-components. Biotechnology can also be applied industrially for use in developing products and processes that generate less waste and use less non-renewable resources and consume less energy. In this respect, biotechnology is well positioned to contribute to the development of a more sustainable society through a sustainable environment. Environmental biotechnology is therefore futuristic and limitless in application and usage.

Abutu wrote from Abuja

AN ALLIANCE GONE SOUR?

The relationship between INTELS and NPA is getting strained over debts, writes John Woke

t is no longer news that Integrated and Logistics Services (INTELS) has dragged Nigerian Ports Authority (NPA) to the court of Nigeria’s National Assembly. INTELS claims that NPA is owing it a whopping US$840 million. But NPA is also claiming that INTELS is owing her about US$952 million, in addition to another N3.3 billion. Ms Hadiza Bala Usman, the managing director of NPA in a letter to the House Committee on Marine Transport, claimed that these debts accumulated from the activities of INTELS in the Onne and Warri ports especially through rent, lease and through Put fees. The question then is: who is owing whom? Some maritime watchers have raised questions on why NPA did not speak out about INTELS purported debt until INTELS dragged her to the House of Representatives. “Why have they just found their voices,” quarried Daniel Olugbenga, a lawyer. “There are some untold stories about this case and we will wait for details.” The purpose of this piece, however, is not to delve into the issue of who is the real debtor. That is a story for another day. The thrust of this article is the surprising collapse of what many maritime players had long dubbed an ‘unholy alliance’ between INTELS and NPA. Since the ports concession in 2006, NPA had consistently projected INTELS as the favoured child, the poster boy of the concession success. From its Onne Oil and Gas Free Zone, INTELS had continued to expand, winning practically every major contract coming out of NPA. Take for instance, the controversial oil and gas cargo question. INTELS remains the only concessionaire that NPA recognises to exclusively receive so-called oil and gas cargo at it terminals. This is in spite of the fact that the other concessionaires at the ports have fought against this illegality as there is

nothing like oil and gas terminal but multi-purpose terminals which can clear any cargo including pipes. INTELS claims it is an oil and gas terminal and despite all the protests against this, NPA on April 27, 2015 came out with a directive purportedly from former president, Dr Goodluck Ebele Jonathan stating that all oil and gas-related cargo should be handled only at the designated terminals at Onne, Warri and Calabar. These terminals are controlled exclusively by INTELS. The NPA pampering of INTELS continued under the Muhammadu Buhari administration. In fact, late in 2015, Julius Berger petitioned the Honourable Minister of Transportation Rotimi Chibuike Amaechi over NPA’s diversion of vessels carrying ‘oil and gas cargo’ meant for its terminal to INTELS terminal. At a town hall meeting called by Amaechi at his conference room in Abuja to deal with the issue with all concessionaires and stakeholders in attendance, many observers were miffed at the way NPA was defending the activities of INTELS. Indeed the then NPA Executive Director, Marine and Operations, Mr. David Omonibeke was exchanging documents with INTELS’ representatives as if they belong to the same organisation. Because of NPA’s frantic and tenacious defence and endorsement of INTELS, the minister, at the end of the meeting, also endorsed INTELS monopolistic claim to oil and gas cargo based on NPA’s directive of April 27, 2015. In fact before now, it was difficult to separate INTELS from NPA or to understand the terms of their agreements. This is what will make it even more difficult to understand who is owing the other in the current debt tango, because NPA had consistently given INTELS contracts that raised eyebrows for lack of due process and transparency. A good example is the redevelopment project of the Bullnose I, II and III terminals in Apapa during the

Jonathan administration. The managing director of NPA had, in a letter to the Minister of Water/Transportation, dated June 3, 2008, in response to the federal government’s initiative for private sector participation in ports development, Eko Support Services (ESS) submitted a detailed proposal for the redevelopment of Bullnose Terminal. But the letter was silent on whether such a government project went through a public tender which should offer other interested stakeholders in the maritime industry an opportunity to bid. But NPA simply handpicked ESS, a company associated with INTELS’ interest. Not only that, ESS offered to handle the project at the cost of US$127 million and the NPA’s technical committee approved US$124 million for the project. Many stakeholders considered the $124 million as huge. The complication in the transactions and financial arrangements between NPA and this client could be seen more in the financing of the project. ESS would finance this project and the cost of financing of 16% would be applied to the cost of the project. Again, the project cost will be amortised through service boat charges in all the ports in Nigeria. To crown it all, ESS will enjoy an exclusive lease of this redeveloped terminal for an initial period of 25 years. In summary, NPA awarded a terminal redevelopment project to a private player with NPA providing an astounding cost of contract, through charges collected on behalf of NPA by the contractor. Yet NPA will not have control of the terminal for 25 years. Still, more financial complication could be seen in INTELS financing of the $5.2 billion construction of Onne, Warri, Calabar and Lagos ports. NPA re-pays this humongous sum at a 16% interest and INTELS again uses these facilities exclusively for 25 years

despite the fact that they will be paid their money with a staggering 16% interest. The repayment process here again is through INTELS’ collection of vessels taxes meant for NPA. Worse still, NPA has no way of monitoring the taxes collected as vessel owners pay these taxes directly to INTELS. So, how does NPA know how much INTELS collects on its behalf or is owing her? The NPA managing director in her letter to the House of Representatives claimed that “INTELS has been collecting dues and charges on behalf of the agency since 2010. It is INTELS that is rather indebted to NPA in respect of rents at its Onne base which currently stands at N3.3 billion”. But many observers of the INTELS-NPA feud insist that NPA under Usman cannot justifiably lay claim to INTELS owing them because the past NPA management were not only gullible and over indulged INTELS, they also left themselves financially vulnerable in almost all transactions with the logistics company. Many analysts indeed hold strong opinions about allegations of complicity in some questionable financial arrangements between INTELS and NPA. When on Monday, November 16, 2015, the Executive Director, Directorate of Marines and Operations, NPA, sent an internal memo tagged “Handling of Oil and Gas Cargo at Julius Berger Terminal” and restated unequivocally that oil and gas cargo should be handled at oil and gas terminals, to save loss of revenues by government, many players and concessionaires, disillusioned by NPA’s persistent and seeming irrepressible will to foist monopoly on the ports through INTELS, stated like prophets that the day would come when the bubble would burst. Finally, judgment day seems here. Who will have the last laugh? Woke wrote from Part Harcourt

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EDITORIAL SAVING THE NATIONAL PARKS (1) The authorities may do well by putting the countryâ&#x20AC;&#x2122;s parks to good use

National Park is ofďŹ cially described as an area of special scenic, historical or scientiďŹ c importance set aside and maintained by a national government. These parks are usually unique places of great value. As the federal government therefore seeks ways to diversify the nationâ&#x20AC;&#x2122;s economy from its mono-product, oil, it is important for it to take a closer look at the national parks, which are veritable sources of foreign exchange, if managed properly. National parks are important to the development of any nation that understands how they work, because they can be exploited positively to promote tourism, as many countries, even in Africa, have done to grow their economies and boost their image. Unfortunately, the national parks in Nigeria are in very bad shape, in fact, they are decrepit, moribund and obscure. This has made them havens for poachers of wildlife, criminals and, possibly, training grounds for terrorists, as it happened with Sambisa Forest. For sure, the WHAT THE NATIONAL concept of national PARKS IN NIGERIA park in Nigeria is HAVE IN COMMON IS relatively recent. It was THE TREMENDOUS ďŹ rst introduced in 1979 BIODIVERSITY THAT THEY during the ďŹ rst coming REPRESENT. BUT IN TERMS of General Olusegun Obasanjo as the Head OF THE MANAGEMENT of State when Kainji OF THESE RESOURCES, THEY HAVE CONTRIBUTED Lake National Park was established under NOTHING TO TOURISM DEVELOPMENT IN NIGERIA Decree No.46 of 1979. Military President, General Ibrahim Babangida increased the number to ďŹ ve under the Decree No.36 of 1991 with the establishment of Cross River National Park, Old Oyo National Park, Chad Basin National Park, and Gashaka Gumti National Park. Yankari Game Reserve was upgraded in 1992 to a national park, bringing the number to six in the country. Two more national parks were added to the number just before the exit of the military from

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governance in 1999 through Decree No. 46 of 1999 (now an act). It is instructive that no civilian administration has ever created a national park. Yet Second Republic President, Alhaji Shehu Shagari, during a visit to Yankari Game Reserve in 1980, sighted 100 elephants in one wetland area (Fadama). There can be no better imagery of the abundance of wildlife in the reserve than that. But today, the depletion of the African elephant population of the reserve is emblematic of the ineffectual protection mechanism in place. The federal government in 2006 obliged the request by the Bauchi State Government to be given control of Yankari National Park but there has not been any appreciable difference in management. As it stands, records showed that a total of 22, 206.24 square kilometres of conservation area is covered by the national parks and managed by the National Park Service. Both the Bauchi State Government and the National Park Service of the federal government are culpable in the wholesale degradation of all the parks in the country and the steady depletion of the ďŹ&#x201A;oral and faunal resources in these protected areas. What the national parks in Nigeria have in common is the tremendous biodiversity that they represent. But in terms of the management of these resources, they have contributed practically nothing to tourism development in Nigeria. Their management has demonstrated pitiable lack of capacity in the protection of the resources and has not been able to educate Nigerians on the socio-economic beneďŹ ts of these national parks. While funds are allocated annually to the National Park Service to manage the national parks, the agency also has opportunity to collaborate with local and international NGOs, as done in other countries, particularly for research purposes. As it appears, the National Park Service lacks initiative and creativity and needs to be jolted to action. The present federal government has spent almost two years looking for a conservator-general to head the agency. Unfortunately, the same group of civil servants who presided over the rot have been angling to take the position. t5P CF DPODMVEFE UPNPSSPX

TO OUR READERS Letters in response to speciďŹ c publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

Letters to the Editor

WHY KIDNAPPERS MUST DIE

carcely had Lagosians fully savoured the good news of the release of abducted Secretary of Isheri Estate Landlord Association, Dayo Adekoya, than the news broke that seven persons had been kidnapped in Epe Area of Lagos State. The alleged victims include five workers of a farm and two members of the Odua Peopleâ&#x20AC;&#x2122;s Congress (OPC) who were recently employed as security personnel. Igbodu community in Epe, which has recently been transformed into a massive farming hub by the state government, has witnessed some kidnap cases involving majorly farmers in recent time. Though a national issue, of late Lagos has had to grapple with pockets of kidnapping incidents, here and there. Not quite long ago, 20-gunmen reportedly stormed the Isheri North Estate and kidnapped, Mr. Adekoya. The abductors reportedly killed three estate security guards as they attempted to prevent the gunmen from escaping. To show that kidnappers have become audacious in their operational mode, a top Lagos monarch, Oba Goriola Oseni, the Oniba of Ibaland, was once abducted right in his palace by gun men who purportedly murdered a security guard, Sunday Eniola Okanlawon and a commercial motorcyclist, Joseph Okeke and also attempted to murder the monarchâ&#x20AC;&#x2122;s wife, Olori Abosede Oseni. The monarch was to spend 21 excruciating days in the hand of his captors before he was eventually released. These criminals have become so callous that even children are not spared in their endless search to make money at all costs. Last year, three school girls were seized from Babington Macaulay Junior

Seminary, Ikorodu, but were later freed by the police. And recently, students and staff of Turkish International School, Isheri, Ogun State, were kidnapped and later released. Before now, kidnapping was alien to our culture. Things, however, changed when Niger Delta militants turned the creeks into a hub of ungodly pursuit, where top government functionaries, diplomats, relations of famous and wealthy celebrities, expatriates and host of other top shots were abducted and kept for ransom. In view of the economic gains of the unscrupulous business, its scope was to later spread from the Niger Delta creeks to other parts of the country, especially the South -East and South -West. A recent Freedom House report indicated that Nigeria recorded one of the highest rates of kidnapping in the world. Equally, a 2013 data of the US Department of Stateâ&#x20AC;&#x2122;s Country Reports on Human Rights Practices for 2013 showed that kidnapping and connected crimes were serious problems in Nigeria. But then, the good news now is that in Lagos State, like smokers, kidnappers are liable to death. This is the highlight of the Anti-Kidnapping Law recently signed by the state governor, Mr. Akinwunmi Ambode. The law recommends death penalty for kidnappers in whose custody victims died and life jail for those who kidnapped for ransom. The Anti-Kidnapping Law is all-embracing. It stipulates sentence for the actors, the collaborators, the aiders and those who were aware of the act but did nothing about it. The law is primarily meant to warn criminals to desist from further engaging in kidnapping. It is quite apt that the Lagos State Government and a few other

states in the country are exploring the instrumentality of the law to tackle what has now become a monster in our nation. Since what separates the human society from the animal kingdom is the preservation of law and order through the enactment and enforcement of set of rules and laws, it is expected that the anti-kidnapping law will go a long way in checkmating the spate of kidnapping in the state. With the ratification of the law, the state government is simply signifying to kidnappers and their collaborators that it is no longer going to be business as usual for them. Though some have criticised the law as being too stiff, but the truth is that kidnapping is evil, barbaric, inhuman and despicable; and it should be treated as such. Aside the psychological and emotional damage that the act brings upon victims and their family members as well as well-wishers, the woes that the dastardly act brings to bear on the nationâ&#x20AC;&#x2122;s economy are quite enormous. As expected, no rational investor would put his money in an unsafe environment. So, kidnapping grossly undermines the countryâ&#x20AC;&#x2122;s economic prospect. Not only this, it is an embarrassment to the image of the country. It doesnâ&#x20AC;&#x2122;t do our nation much good to have a demeaning global reputation of a haven of rogues and criminals. Many a times, these criminals have dealt in the most inhuman and callous ways with expatriates working, particularly in the oil industry as well as other sectors. This isnâ&#x20AC;&#x2122;t right as it does more havoc to the image our nation when it is seen as an unsafe place to transact business. 5BZP 0HVOCJZJ -BHPT 4UBUF .JOJTUSZ PG *OGPSNBUJPO BOE TUSBUFHZ "MBVTB -BHPT

T H I S D AY MONDAY FEBRUARY 20, 2017

T H I S D AY ˾ MONDAY, FEBRUARY 20, 2017

POLITICS

Group Politics Editor Olawale Olaleye Email wale.olaleye@thisdaylive.com 08116759819 SMS ONLY

T H E M O N D AY D I S C O U R S E

The Politics That Could Have Grounded Ekiti But for the triumph of reason, the initial withholding of the statutory allocation due to Ekiti State by the federal government would have heightened tensions between the two tiers of government, write Shola Oyeyipo and Segun James

Fayose...his survival battle

f there is anything that is quite certain, regardless of the shifty nature of politics, it is the fact that the duo of President Muhammadu Buhari and Governor Ayodele Fayose of Ekiti State may never find a common ground, either on personal or mutually exclusive matters. The animosity between these two is beyond the comprehension of the undiscerning. It is ethnic, religious, political and much more, personal. Unfortunately, whilst one engages in this sordid feud and moves on as if everything is fine, the other is taking frantic notes and unrepentantly unforgiving of the invectives so far hauled at him. Thus, these irreconcilable circumstantial dispositions are what have further complicated their otherwise needless rivalry. The situation soon assumed a different scale when the Ekiti State governor recently alleged deliberate withholding of the statutory allocation due to the state last month. He suspected it was a deliberate move to strangulate the state and by implication, ridicule his administration before his people. He cried out and went a step further to challenge the federal government to release his funds. His party and members had quickly joined in scaling up the protest. On their part, the federal government and the ruling party, the All Progressives Congress (APC) dismissed the allegations as unfounded and argued that the governor didn’t understand the issues. Although the governor had expressed confidence that the money would be released shortly after visiting the Minister of Finance, whom she said assured him it was a mix-up

and that the money would be paid soon, the tension had more or less subsided. But the scale of what would have happened if the experience of Lagos State under former Governor Bola Tinubu and President Olusegun Obasanjo some years ago had replayed itself is better imagined. First, there is the need to understand how far the two had come in their rivalry to better understand the import of what would have come in the wake of the allocation controversy. The Path to Fayose’s Troubles Fayose has always been in the spotlight of political crisis. And since his second coming as the governor of Ekiti State on the platform of the Peoples Democratic Party (PDP), he had opted, more or less, to stand against the ruling All Progressives Congress (APC) and its president, Muhammadu Buhari. This has again made him a cynosure of all eyes. During the election that ousted former governor of the state and Minister of Steel and Mineral Development, Dr. Kayode Fayemi, he engaged all possible including the brazen deployment of his stomach infrastructure to win. Then APC members alleged that they were driven to the bush in many towns across the state. For instance, in Efon Alaaye, the party claimed PDP thugs did not allow any APC member to participate in the accreditation process while no party agent was allowed to stay in any of the polling units in the town, while traditional rulers in some communities threatened to banish whoever voted for the APC.

The situation soon assumed a different scale when the Ekiti State governor recently alleged deliberate withholding of the statutory allocation due to the state last month. He suspected it was a deliberate move to strangulate the state and by implication, ridicule his administration before his people. He cried out and went a step further to challenge the federal government to release his funds. His party and members had quickly joined in scaling up the protest

There were also allegations that PDP agents forced members of the National Youths Service Corps (NYSC), who worked as ad hoc staff, to abandon card readers for manual accreditation in some units. But despite the hues, Fayose was declared winner. He polled a total of 203, 090 votes to defeat the APC candidate and then incumbent governor, Dr. Fayemi who garnered 120, 433 votes though Fayemi was believed to have performed. The APC too was prepared to show that the election was fraudulently won. So, from the onset, Fayose drew the battle-line with the APCled federal government. He was prepared to hold on to his seat with an iron fist. At a point, precisely on Monday, September 22, 2014 confusion erupted in the premises of the Ekiti State High Court when hoodlums believed to be loyal to Fayose invaded and disrupted proceedings in a case challenging his eligibility (then he was governor-elect), to contest the June 21 governorship election. Justice Olusegun Ogunyemi, who presided on the case, had refused an application to set aside an order abridging the time for the PDP candidate to file his defence in the case filed on behalf of socio-political group, Ekiti-11 by one of its members, Mr. Femi Ajakaiye. Later on that same year, Fayose was locked in a fierce political battle with the APC dominated 26-member state House of Assembly. The APC had 19 members in the state legislative arm then. The face-off took a dangerous dimension between Monday, November 17, 2014 and Wednesday CONT’D ON NEXT PAGE

T H I S D AY ˾ MONDAY, FEBRUARY 20, 2017

POLITICS/ THE MONDAY DISCOURSE T H E P O L I T I C S T H AT W O U L D H AV E G R O U N D E D E K I T I

Adeosun with Vice-President Yemi Osinbajo at an event recently

19, when the state capital, Ado Ekiti, was taken over by anti-impeachment protesters led by deputy Governor Kolapo Olusola and other Fayose supporters. It was during that fracas that Mr. Modupe Temitope Olaya in Efon-Alaaye lost his life. The 19 APC lawmakers, who were initially encouraged by President Muhammadu Buhari’s victory, remained on the run till the expiration of their tenures and they were rendered practically useless till the PDP eventually swept the assembly election. Eventually, the APC Speaker of the Ekiti State House of Assembly, Dr. Adewale Omirin, and his deputy, Adetunji Orisalade, were removed by seven PDP members of the assembly on November 20, 2014 and it remained like that till the end. The seven members also approved Fayose’s commissioner nominees and local government caretaker committees as well as the budget. This is in addition to the fact that Fayose remained a fierce critic of the APC, particularly its presidential candidate in the build-up to the last presidential election, President Buhari, whom he said was too old to be Nigerian president and he insinuated that he could die in office. And this is one of the major areas of discord between the governor and the president’s admirers. But the APC handlers in the state were resolved to get at Fayose. Later in 2015, a shocking audio conversation amongst fayose, Senator Musiliu Obanikoro, Senator Iyiola Omisore and former Police Affairs Minister, Jelili Adesiyan in collusion with some military officers surfaced. The audio shed light on the factors behind some irregularities believed to have been perpetrated in the last Ekiti State governorship election and how the PDP manipulated to win it. Captain Sagir Koli of the Nigerian Army recorded the voices of Fayose, Obanikoro, Adesiyan, Omisore and Brig-Gen Aliyu Momoh, when they allegedly planned how to deploy soldiers to rig the elelction. Interestingly, Fayose admitted that his voice was on the rigging audio clip but vehemently denied talking about rigging. Rather, he maintained that he was accusing General Momoh of colluding with the APC to rig the election. The standoff continued last year October when Fayose prevented operatives of the Economic and Financial Crimes Commission (EFCC) from arresting the wife of another vocal and critical PDP member, former Minister of Aviation, Mr. Femi Fani-Kayode, Mrs. Precious Fani-Kayode,

who was detained for several hours in Ado Ekiti branch of Access Bank after a visit to the governor. Fayose stormed the bank in company with many of his fanatical supporters around 7pm to ensure that she was released. At the end, no one knew why the anti-graft agency wanted her. More recently, in January, Fayose repeated his grandstanding posturing when he personally foiled an attempt by the DSS to arrest Apostle Johnson Suleiman of the Omega Fire Ministries in Ado Ekiti after the fearless preacher told Christians to resist the killings by Fulani herdsmen and urged them to resist further attacks by the killer nomads. Another high point in Fayose’s controversial relationship with the ruling APC at the centre was the recent revelation of how he and the former Minister of State for Defence, Senator Musiliu Obanikoro allegedly got a plum share

Although the governor had expressed conﬁdence that the money would be released shortly after visiting the Minister of Finance, whom she said assured him it was a mixup and that the money would be paid soon, the tension had more or less subsided…But the scale of what would have happened if the experience of Lagos State under former Governor Bola Tinubu and President Olusegun Obasanjo some years ago had replayed itself is better imagined

of N4.745bn from the arms deal loot which the President Buhari-led government has resolved to recover. As part of efforts to track and trap the money, the EFCC had frozen a Zenith Bank account belonging to Fayose but that would no longer be as Justice Taiwo Taiwo of Federal High Court in Ado Ekiti later ordered the EFCC to unfreeze all blocked accounts belonging to Fayose. The judge said the decision by the EFCC to freeze the account without first hearing Fayose’s position on the matter is simply an abuse of his fundamental rights to fair hearing. So, in his usual mockery of the ruling APC, the governor headed to the bank to make a media-celebrated withdrawal of N5 million. While it seems like the governor who enjoys immunity always get away with every attempt to clip him, Fayose who is now the face of the opposition PDP and the most outspoken one for that matter, has continued to lambast the Buhari government at every given opportunity. The issues of the herdsmen, the Southern Kaduna killings, FG’s attempt to borrow money, lateness in forwarding Walter Onnoghen’s name for confirmation as substantive Chief Justice of Nigeria, the high cost of living, increment in workers PAYE and several other sundry issues have become handy for the governor in his attacks against federal government. He had accused government of doing everything possible to upturn his election. He also once said the central government is working to run his state down. In all, it is obvious that Fayose is not ready to court the ruling APC and he is hinging his recalcitrance on the constitutional provision of his freedom and protection. Though to some analysts, how he hopes to get away with his actions at the expiration of his tenure will be of utmost interest to students of politics and power, he is however not intimidated by all standards. Now, the Allocation Controversy As it is not unusual for the governor and the federal government to be at each other’s throat, it was not surprising when Fayose raised the latest alarm that the federal government had deliberately withheld the January 2017 allocation and the monthly budget support due to his state. But the federal government on Thursday denied Fayose’s allegations. The Director of Information, Federal Ministry of Finance, Mr. Salisu Dambatta, who shed light on why the

N1.1bn Budget Support Facility for Ekiti State for the month of January was withheld, first noted that statutory allocation due to the state had not been withheld. He said for the budget support, the state had refused to comply with a provision introduced to bring prudence to the disbursement of the “The ministry categorically denies and states the claim as incorrect as the ministry has not withheld any statutory allocation due to Ekiti State, or any other state in the country. “The fact is that the Ekiti State Government failed to comply with the necessary requirements for participating in the Budget Support Facility, which is a Conditional Loan Programme to state governments introduced with a view to enhancing fiscal prudence, designed particularly to enhance transparency, efficiency in public expenditure and payment of salaries. “This is not the first time of non-compliance by the Ekiti State Government. His administration defaulted in meeting the conditions specified and agreed upon by the 35 state governments that are participating in the programme as contained in the Fiscal Sustainability Plan and the Ekiti State Government was warned formally of its failure to comply with the full requirements vide a letter on August 5, 2016, with reference number HMF/FMF/ASG/1/2016.” This explanation however came after Fayose had already taken to the media to accuse the government of victimization. He even took the pains to visit the Minister of Finance, Mrs. Kemi Adeosun, to ask for his money. Although he did not meet her at her desk, she would later call to ask apologise for the situation and promised to ensure the payment of his money, he said. And government too, reports have it, had promised to pay up the money this week. A Recent Past Experience Although Fayose had made his point and the federal government has also clarified the issue, the scenario above would only remind students of politics and power of the frosty relationship that characterised the era of former Lagos State governor and national leader of the APC, Senator Bola Tinubu and a former president, Chief Olusegun Obasanjo. Just as it is now, Tinubu was the face of the opposition Alliance for Democracy (AD). His case was even more delicate as he and Obasanjo are from the South-west and yet, he remained a major opposition to the Obasanjo-led PDP CONT’D ON NEXT PAGE

T H I S D AY Ëž MONDAY, FEBRUARY 20, 2017

RIGHT OF REPLY

Donâ&#x20AC;&#x2122;t Twist the Facts, Senator Adeola is From Yewa There is no truth to some recent narratives questioning the ancestral ties of Senator Solomon Adeola, a governorship hopeful, to Yewa in Ogun State. Kayode Odunaro writes

ur attention has been drawn to the opinion article titled: â&#x20AC;&#x153;Adeola and the Burden of Ancestral Tiesâ&#x20AC;? as published in THISDAY of Monday, February 13, 2017, on page 19 under the â&#x20AC;&#x2DC;Perspectiveâ&#x20AC;&#x2122; column. The said opinion by Raheem Ajayi of Imasayi purports to dispute the origin of Senator Solomon Adeola as a Yewa man like Ajayi and myself. His take off point was the discussions of an open letter on the social media by Damilare Oloyede. The making of an issue of the origin of Senator Adeola as a Yewa man can be situated in a desperate and almost hysterical attempt to undemocratically exclude the senator from running for the Ogun governorship race in 2019. As truthfully acknowledged by Ajayi in his write-up, the senator â&#x20AC;&#x153;got an impressive political credentials and anybody would want him to be part of his family...â&#x20AC;? The grouse of some individuals including possibly Ajayi is that in Ogun State today, Senator Adeola is the talk of the town and foremost front runner in the race for Ogun State governor come 2019 to the chagrin of those that want to exclude him at all cost for their personal interests and those that want to determine, who succeeds Governor Ibikunle Amosun through the constriction of the choices of the people. Ajayi, if he is truthful will acknowledge that he is a â&#x20AC;&#x2DC;brotherlyâ&#x20AC;&#x2122; associate of sort to Senator Adeola to be clear of his origin as a Yewa man in spite of living and representing Lagos State. That must explain his presence at the Senatorâ&#x20AC;&#x2122;s Ikeja Senatorial District office during the empowerment programme of the senatorâ&#x20AC;&#x2122;s riverine constituents with 500 life jackets late last year as captured in a photograph and his subsequent meeting in a nearby hotel with the senator. The details of the transaction on that day is indeed personal and need no elaboration here but it goes to establish a prior unstated nexus between the writer and Senator Adeola that relates to their origin from the same ethnic group even while from different communities in the clan. For reasons best known to Ajayi, he has now joined the group that wants to exclude Senator Adeola from the 2019 race at all cost, using the spurious ancestral obfuscation when they have no legal or constitutional barrier to erect against one that is easily the most popular candidate as of today. No surprises here as virtually all previous winners of such race in the past were similarly pilloried with the same charge. But using falsehood for such â&#x20AC;&#x153;pull him

Adeola...son of the soil

downâ&#x20AC;? campaign cannot be allowed to stand. Ajayi raised the question of why the senator had to â&#x20AC;&#x153;wait till 2014 when he was aspiring to become senator for Ogun West before he came to Yewa?â&#x20AC;? I wonder the kind of tabs that Ajayi keeps on the senator to raise this question. Would he have been monitoring the senatorâ&#x20AC;&#x2122;s private visits or the senator was supposed to have a log-in register of his visits? This question cannot be raised of a man, who has built houses in Yewaland prior to 2014. Again the senator was part of the coronation ceremony of the Paramount Ruler of Yewaland, Oba Kehinde Olugbenle way back in 2012! And as chairman of Oronna Ilaro Festival Planning Committee (2012-16), I can confirm his participation and huge financial contributions to the festival since 2012. So much for his alleged coming in 2014, a year to an election he was to contest! On the issue of â&#x20AC;&#x2DC;inconsistencyâ&#x20AC;&#x2122; and alleged claim by the senator to come from Joga Orile by Ajayi if ever such a claim

For reasons best known to Ajayi, he has now joined the group that wants to exclude Senator Adeola from the 2019 race at all cost, using the spurious ancestral obfuscation when they have no legal or constitutional barrier to erect against one that is easily the most popular candidate as of today. No surprises here as virtually all previous winners of such race in the past were similarly pilloried with the same charge

was made, Ajayi cannot claim ignorance of the history of Isaga people of Yewa and the Dahomey war that led to Isaga peopleâ&#x20AC;&#x2122;s dispersal and establishing settlements in many Yewa communities including in Ilaro, Owode, etc, Lagos and even across international borders in Benin Republic. It will be historical ignorance or playing cheap and dirty politics for Ajayi to turn a blind eye to the fact that most Yorubas can rightly claim two or three communities within the same clan as a result of original settlements â&#x20AC;&#x201C; farm settlements, new settlements â&#x20AC;&#x201C; as a result of war as well as maternal origin with cases of the sons or daughters married outside the original settlement sometimes coming back to be a king. This is indeed the case of Senator Adeola, whose paternal forebears migrated from Isaga Orile to Ago Isaga in Ilaro and finally to Pahayi while his maternal roots is traceable to Joga Orile all within the Yewa ethnic group. And Senator Adeola direct mother is of Kemta, Egba Alake stock. For the information of Ajayi, the incumbent governor has contested elections from at least three different communities that he has familial relationship with in tandem with historical origin from these places. From Ajayiâ&#x20AC;&#x2122;s write-up, one sees an inconsistency that can only be explained by an â&#x20AC;&#x153;attempt to nail him at all costâ&#x20AC;?. On the one hand, he was challenging the origin of a man by raising â&#x20AC;&#x2DC;ancestralâ&#x20AC;&#x2122; question; on the other hand, he called on those defending the senator to â&#x20AC;&#x153;speak to the matter not some elaborate lineage history dating back to when Oduduwa purportedly dropped from the skyâ&#x20AC;?. So apparently a detailed lineage history of the Senator has been provided but Ajayi for reason adumbrated cannot be convinced. Too bad as â&#x20AC;&#x2DC;ancestralâ&#x20AC;&#x2122; issues are matters of lineage history. For the avoidance of doubt, however, the Senator traces his ancestral lineage to Isaga Orile, Joga Orile, Pahayi, Ilaro and Kemta in Abeokuta. The details of such cannot be presented here for space constraint but it was such details that Ajayi, a Yoruba man, derided in his flippant submission of â&#x20AC;&#x153;Oduduwa purportedly dropped from the skyâ&#x20AC;?. One would not join him in such histrionic derision but would counsel him to look for legal and constitutional excuse if any, to exclude the most popular aspirant from a race and a date with destiny on behalf of his long suffering Yewa people that has so far been marginalised in the rulership of Ogun State since the creation of the state 41 years ago. r 0EVOBSP .FEJB "EWJTFS UP 4FOBUPS "EFPMB JT GSPN "HP *TBHB *MBSP :FXB 0HVO 4UBUF

T H E P O L I T I C S T H AT W O U L D H AV E G R O U N D E D E K I T I government. Obasanjo chose to withhold onto the Lagos local government funds by claiming that the state government must revert to the 20 local government structures, when the state increased its local councils to 57 by creating additional 37 Local Council Development Authorities (LCDAs). Obasanjo was accused of constituting himself into an appellate court over and above the Supreme Court by ignoring a ruling that the funds be released to the state. To underscore the political sensitivity of the issue, it was the late President Umaru Musa Yarâ&#x20AC;&#x2122;Adua, who later directed the then Accountant-General of the Federation, Alhaji Ibrahim Dankwambo, to immediately release to Lagos State Government, its seized local government funds which totalled N10.8 billion. Obasanjoâ&#x20AC;&#x2122;s argument for withholding the Lagos allocation was hinged on the fact that by the creation of new LCDAs in the state, the old local government areas have been tampered with in respect of their names and boundaries as they were divided into smaller units and therefore, not recognised by the 1999 constitution. To him, the constitution only recognises 774 local governments in the federation, so, in Lagos State for instance, the constitution recognises 20 local governments. For instance, Alimosho local government which is duly recognised by the constitution was divided into five LCDAs while the old name â&#x20AC;&#x201C; Alimosho â&#x20AC;&#x201C; no longer exists. Same

applies to the 19 other local governments in the state, recognised by the constitution. As such, council allocations to the affected states were withheld. On the other hand, Lagos State, claimed that they had fulfilled all constitutional requirements for the creation of new local governments and that what remained was an Act by the National Assembly, making consequential provisions with regards to the new local governments. Lagos accused the federal government of unduly punishing local government workers as withholding of the allocation implied withholding of their salaries. The affected workers included teachers in primary schools, local health officials and workers at the local government secretariats among others. Very easily, Nigerians have begun to compare the two scenarios as similar. Like Tinubu, Fayose is not a friend of the ruling government and he is an unrepentant critic of the Buhari administration. So, some are already drawing the inference of political persecution from Fayoseâ&#x20AC;&#x2122;s allegations. And the Debates Had Already Begunâ&#x20AC;Ś On his Twitter handle, Fayose, who served the salvo, wrote: â&#x20AC;&#x153;Out of the 36 states in Nigeria, Ekiti is the only state that did not receive budget support fund last month. They want to cripple my stateâ&#x20AC;?, he said. But lawyer and former National Secretary, Labour Party, Dr. Kayode Ajulo did not see the

matter in the context of political witch-hunt. To him, questions should be asked particularly as regards whether or not Ekiti State had complied with the provision Dambatta claimed it has not complied with. â&#x20AC;&#x153;I have to know from all indications, as a lawyer, available facts have shown that he (Fayose) is not telling us the fact that it is statutory allocation. There are some conditions he has to meet to access the fund. He should not play politics with it. It is not about PDP or APC; it is for the people. â&#x20AC;&#x153;The Ministry of Informationâ&#x20AC;&#x2122;s explanation is in tandem with good reasoning and Governor Fayose should remember that when his account was frozen, we defended him. In this case, we donâ&#x20AC;&#x2122;t have to lie about itâ&#x20AC;?, he said. The Executive Director, Kogi State-based NGO, Centre for Human Rights and Conflict Resolution (CDHR), Mr. Idris Miliki, was also of the opinion that the governor ought to be more diplomatic in handling the matter and that the interest of the people should supersede all other sentiments. â&#x20AC;&#x153;I think the fact has been established that there are certain conditions to be met before the money would be released to the states. And there are also issues of due process and compliance. But overall the money is for the state and the people. So, let them put their heads together to ensure that the people get the money. It doesnâ&#x20AC;&#x2122;t belong to Fayose. â&#x20AC;&#x153;The governor should also know that it is

not by making a noise; you must lobby; he is also a politicianâ&#x20AC;?. But former deputy governor and Senator representing Ekiti South senatorial district, Senator Abiodun Olujimi did not agree that the governor is playing politics with the matter. â&#x20AC;&#x153;A governor and most especially the governor of Ekiti State cannot play politics with the livelihood of the civil servants, who are the real owners of the state. Also, we heard from the ministryâ&#x20AC;&#x2122;s spokesman whose claims are shrouded in confusion. â&#x20AC;&#x153;We canâ&#x20AC;&#x2122;t see the clear reason for the refusal and what is to be done. Nigeria is one and meaning should not be allowed to be read into actions, especially where a government is stifled without adequate noticeâ&#x20AC;?, she noted. A Lagos based lawyer, Mr. Morenikeji Saliu, advised the federal government to separate Governor Fayose from his people so that its actions are not considered as mark of intolerance. â&#x20AC;&#x153;What the FG has done could be seen in some quarters as a transfer of the vendetta or hatred against the governor to the people of the state. The question now is, why punish the innocent citizen for whom these allocations are meant? â&#x20AC;&#x153;Although an attempt has been made by the FG to rationalise the action on the ground that the Ekiti State Government did not fulfill certain conditions that will make them access the fund; that story should be told to the marines. Only a foolish person will not see FGâ&#x20AC;&#x2122;s belated explanation as a mere subterfugeâ&#x20AC;?.

MONDAY, F Ͱͮ˜ Ͱͮͯ͵ ˾ T H I S D AY

FEATURES

Acting Features Editor Charles Ajunwa Email charles.ajunwa@thisdaylive.com

Bello: Why I’m Aiding the Physically Challenged Kogi State’s First Lady, Amina Oyiza Bello, had a life-altering experience when her first son, Hayat, was born with cerebral palsy. Having travelled around the world to find a cure for the disorder, she established the Hayat Foundation, named after her son, to provide relief to children born with congenital ailment. She narrated her story to Dele Ogbodo Kogi State’s First Lady, Amina Oyiza Bello, showing love to his son, Hayat

or Mrs. Amina Oyiza Bello, Kogi State First Lady, the inestimable joy that heralded the birth of the family’s first fruit of the womb knew no bounds. That joy was soon cut short few years later when Hayat, like his age mates, was expected to be up and running to kindergarten school. It was to be discovered that he was a Cerebral Palsy (CP) patient. Narrating what indeed is a true love-bond unique relationship between mother and son, she said with joy and humility, “Hayat Olarise Bello is my son, I gave birth to him in 2007 and it happened that he has CP.” Dwelling on ignorance, the Bellos didn’t initially diagnose what was wrong with their son, therefore, they resorted to forge ahead with prayers

Now that I’m back in the country and have seen it all, I’m therefore irrevocably committed to giving back to the society the love that God has given me and what I have learnt while in U.S. with the Hayat Foundation advocacy to try to re-orientate our people that it is not true that all challenged children come via exorcism

Kogi State First Lady, Amina Oyiza Bello...a mother with heart of gold

Kogi State’s First Lady, Amina Oyiza Bello, attending to one of the special needs children at Jesus Abandoned Home

T H I S D AY ˾ MONDAY, FEBRUARY 20, 2017

FEATURES

while still convinced that Hayat was undergoing some developmental challenges which is expected that he will soon overcome, but alas it persisted. The First Lady said: “We didn’t know, we were just living in denial and still expecting that he was undergoing some things or rather that he was undergoing some developmental stages which didn’t come like we expected, hence our journey abroad to seek solution started. Though in agony, the young couple were resolute to find solution and travelled from one country to the other seeking solution and of course, “we went through all those challenges and eventually we discovered that he had CP,” Bello said. Recalling with nostalgia, Bello, explained that most painful of the challenges then wasn’t the physical agony but the emotional and psychological trauma that the family contended with all sorts of people in and around the family. “But the major challenge we had as a family was having to cope with a child that has CP in a society that was not accepting of his kind, and the major challenge was that when we showed him too much love, people were quick to say that we must have used him for money rituals and that’s why we are showing too much love,” she said. “Because I experienced and felt loved while I was growing up as a child I became convinced that I have same responsibility to my son and therefore would not abandon him by hiding him in an obscure corner of the house where people will not see him.” On the journey to surmounting the CP challenge, Bello, punching the air with her right fist, was full of praises for husband who stood with her through it all, insisting that Hayat was his first son. This tripartite bond between the couple and their son was the elixir that made the world a beautiful place for her. “This gave me encouragement, peace and comfort in our early journey as husband and wife. The search for solution for Hayat’s challenge took us to Kennedy Krieger and Johns Hopkins Institutes in United States (U.S),” she said. It was at these institutes of recuperation and treatment that the Bellos found solace and comfort in a world where physical challenge or disorder is not a barrier to joyful living unlike in her Nigeria, where the experience is often different. She said: “It is not just about the wheelchairs and facilities that aided Hayat’s blend into the society. But the society was so loving, so caring and for the first time I realised there was nothing wrong with my son, there was nothing wrong with us; we considered relocating to the U.S. at first, but I got inspired by the stories of the Kennedys and the Kriegers which led to the establishment of the hospital and the school in the first place. “I felt if we all keep leaving Nigeria to foreign lands where things work, who will be the change maker? she asked. Inevitably, I had

to come back home to Nigeria and that was how the ‘fire’ and the zeal to contribute to the society kept burning inside of me.” While acknowledging the way God often intervenes in the affairs of men, she said: “When by the grace of God we found ourselves in the position of authority today, I felt I have found my calling and I couldn’t help but project the image of these hidden faces; children who are hidden in their homes, not due to a fault of their own, but because of their medical condition. “This is not just about children with CP,” she said. “There are different special cases out there. Children are locked up behind closed door even when you ask some families, why are all the children not in the family portrait, they will tell you ‘I don’t want people to start talking.’” According to her, some parents cannot even carry their challenged kids to churches or mosques because of the way the society looks at them, as they will be called all sorts of names and in some cases, even the religious leaders do not help them. “Now that I’m back in the country and have seen it all, I’m therefore irrevocably committed to giving back to the society the love that God has given me and what I have learnt while in U.S. with the Hayat Foundation advocacy to try to re-orientate our people that it is not true that all challenged children come via exorcism,” she said. She stressed that “just as some were created black, white and caucasian, it is the same way we have different children and it is just a matter for God that parents are lucky to have healthy children all through.” Haven gone through these up and down moments, she said she has come to “provide the much needed shoulder for children born with challenges to lean on for parents that are not so fortunate. It doesn’t mean those parents that have special children have committed any wrong.” Veering into spiritual and faith while citing her situation then, the Kogi First Lady, said: “You will discover that God is just testing you. Your attitude will determine how far you will go with any particular situation. On my part, I have chosen to love my son. I have chosen to embrace him. I want to be that face for parents that are ashamed of their children and also for school owners that are quick to tell parents with special kids to take them back. For them to understand that these children are just humans and their parents are not the cause of their challenges. “There are people who go about their normal businesses and for accidental reasons they have spinal cord injuries and they have to learn how to walk and live life all over again.” While expressing government’s lack of serious concern for physically challenged children, Bello advocates that streets, public places and schools be made wheelchair-accessible, adding that every school should have special teachers in every class. With the provision of wheelchairaccessible schools and public places,

Bello said so many children and parents with one related issue or other can no longer be segregated and discriminated upon. “Every class all the way to the university should have a special teacher so that parents like me are not forced to segregate amongst our children whereby maybe some are accepted, we have to take one outside or travel out like I did. It shouldn’t be,” she said. On contributing her widow’s mite to help the needy, she said: “We are also working towards opening an institute that will be focused on severe cases. We also intend to have a training centre for therapists; for behavioural therapists, occupational therapists and physiotherapists. “Teachers that have an NCE can come for an additional programme whereby they are equipped with this basic knowledge, schools can reach out to us for these teachers to have in their schools and also of course to find possible solutions, causes and prevention of CP and other related cases.” On how she intends to offset the cost of imported wheelchairs, she said: “The foundation is working with some international bodies for used wheelchairs, used standing aid, walking aid for children, since when kids out grow certain wheelchairs of course it becomes useless to them and they have to get bigger ones, so we partner with them. “In turn we give it out and for everyone that we give out, once their child outgrows it they have to return it so that we can give to some other persons that equally need it. We also partner with some people that sell wheel chairs locally here. “We discovered that they only bring wheel chairs for adults. When you go round you will never see wheel chairs for children and it is still act of the denial. We have been talking to them that there are children who need them, that is the reason why some of them are usually on the floor because there are no wheel chairs for them so we are partnering with them for other facilities too.” Speaking from Hayat’s experience, Bello admitted that special children love nature, art and music so that they too can tap into those knowledge of theirs because according to her, some of the best known mathematicians and scientists had one special case or the other. According to her, their government was able to tap into those things and somehow they were able to explore those good potentials in them and in the end it made them better people, better societies. While the First Lady will be expecting good spirited Nigerians and corporate bodies to key into her vision by also lending support, she said: “The Foundation is actually a Pan African oriented programme, what we are trying to do is like a replica of what we have in Kennedy Krieger and Johns Hopkins Institute and Hospital. “We want a situation where people can come from all over Africa; you don’t have to go to Europe to get quality education for your ward if they have special cases. We are going to have even boarding facilities for such children. “To that extent we don’t intend to

The Foundation is actually a Pan African oriented programme, what we are trying to do is like a replica of what we have in Kennedy Kri Krieger and Johns Hopkins Institute We want a and Hospital. W situation where people can come from all over Africa; you don don’t have to go to Europe to get quality your ward education for y if they have spe special cases. We are going to have even boarding facilit facilities for such children

restrict it to Kogi State, it’s actually national, it’s West African, so it’s wider than that in scope.” On challenges faced by parents with special kids, Bello, who recalled her personal experience before she traveled to U.S., said: “The stigma was there, but love for my son kept me moving. “Starting from your immediate home and even coming out when he is walking people are whispering. The mockery can make parents develop all forms of depression and most parents don’t really see reason to live on hence reasons why some of them chose to live in denial, to lock them up. “I was advised to try all sorts of things on my son for instance, some say why not take him to the village but I and my husband were like how will our kids grow up to know this. For other people it is easier for them to live in denial but we were not brought up that way. “Today, we celebrate him, even his siblings are looking out for him, supporting him just because we made it so and my husband, to a large extent, really helped in this regard. Some people even wanted to make it look like something must have been wrong with me, but he said ‘no, this is the will of Allah’, an today we are better for it as a people.” On her experience in America, Bello, said the two continents are miles apart in caregiving to special kids, adding that somehow the stigma is prevalent in Nigeria which shouldn’t be. “When I said I found 70 per cent closure in the America society. There I was eager to go and whenever we go out either to shop or to stroll in the park I always come back home burning with tears of joy and its either I must have lost count of people who walked up to us ‘Hello, cute boy, how are you. “Some will sing to lift his mind up, if we are in an elevator and there is a button to press, somebody will just oblige us, out of nowhere to press it and when we are to enter an elevator we are given first right at all times.”

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L-R; Head, Government / External AďŹ&#x20AC;airs, Bakerhughes, Charlotte Essiet; Nigeria Country Manager, BakerHughes, Timmy Onyeacholem; Publicity Secretary, Society of Petroleum Engineers(SPE), Nigeria Council, Ernest Mkpasi; Chairperson,SPE Nigeria Lagos Section, Ehimhen Agunloye; and Wireline Product Line Manager, Sub Saharan Africa, Bakerhuges, Jude Nwaogu, during the visit of SPE team to Bakerhughes oďŹ&#x192;ce where a book co-authored by the 2016 SPE International President and Baker Hughes Snr Vice President Nathan Meehan was presented to SPE Nigeria Council. in Lagos... recently

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L-R; MD/CEO, Blackbit Limited, Wale Ajibade; OďŹ&#x192;iciial of United Bank for Africa, Taiwo Sonola; MD/CEO, Willao Nigeria Limited, Femi Williams and an oďŹ&#x192;cial of PricewaterhouseCoopers, Ibrahim Suleiman, at the Project Chase investors forum organised by Blackbit Limited in Lagos...recently

L-R: Head, Marketing and Corporate Communications, ARM Holding Company, Mr. Taiwo Adeleye; Chief Executive OďŹ&#x192;cer, ARM Holding Company, Ms. Jumoke Ogundare; Special Adviser to the Lagos State Governor on Education, Mr. Obafela Bank-Olemoh; and Permanent Secretary, OďŹ&#x192;ce of the Special Adviser on Education, Dr. Shamsideen Allison, during a press conference on Code Lagos by the Lagos State Ministry of Education in partnership with ARM in Lagos...recently PHOTO: ETOP UKUTT

Minister of Mines and Steel Development, Dr kayode Fayemi; (middle) ďŹ&#x201A;anked by the Permanent Secretary, Mohammed Abbas (left) and Minister of State, Mines and Steel Development, Hon Abubakar Bawa Bwari; during the House of Representatives Committee on Solid Mineralsâ&#x20AC;&#x2122; appraisal of the ministryâ&#x20AC;&#x2122;s 2016 Budget performance in Abujaâ&#x20AC;Śrecently

L-R: Oversea Marketing Director of Gionee, Sony Song; Managing Director, Gionee Nigeria, Chukwueze Austine; Gionee Brand Ambassador, Sheyi Shay; and Marketing Director, Gionee Nigeria, Shomoye Habeeb, during the handover ceremony of Gionee Badge to the new Ambassador in Lagos..recently YOMI AKINYELE

Director General, National Pension Commission , Chinelo Anohu-Amazu (left) and Chairman, House of Representatives Committee on Appropriation, Mustapha Bala Dawaki during the 2017 National Budget Hearing at National Assembly, Abuja...recently SUNDAY ADIGUN

L-R: Operations Manager, Propel Limited, John Elue; Marine Specialist, Bisi Olajugba and Chief Executive OďŹ&#x192;cer, Mr. Harry Ebohon, at a Media Parley to highlight Propelâ&#x20AC;&#x2122;s 15 years of operating in the Nigerian Oil and Gas Industry in Lagos...recently. KOLAWOLE ALLI

L-R: Product Manager, Wema Bank Plc,. Opeyemi Eboka; Student of Federal Polytechnic Ado- Ekiti, Bosede Oluwatomisin; Zonal Manager, Ekiti Branch, Damilola Edewusi, and Business Development Manager, Temitope Oluwadare,during the Valentineâ&#x20AC;&#x2122;s Day Week celebration at Federal polytechnic Ado-Ekiti, Satellite Campus... recently.

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Quick Takes MTN, Lumos Partner on Mobile Electricity

MTN Nigeria has collaborated with global solar architect, Lumos, to launch mobile solar electricity systems for the benefit of families and businesses around the country. The national roll-out of the service which holds today 20th of February, in Abuja, will officially introduce the mobile electricity systems into the marketplace, making it easier for Nigerians to access the revolutionary product. Marketed as the Lumos mobile electricity service powered by MTN, the solution promises to be a catalyst for growth, poised to improve the daily lives of Nigerians. With this innovative product, Nigerians can enjoy accessible, noise-free and fume-free electricity for everyday use and conveniently pay with airtime from MTN mobile phone. The mobile electricity device which comes with a five-year warranty, can light up bulbs and power appliances like fans, televisions, cellphones and computers. Commenting on the partnership with Lumos, the CEO of MTN Nigeria, Mr. Ferdi Moolman noted that over the years, MTN Nigeria has launched a variety of technology-driven products and initiatives which have helped to improve the lives of Nigerians, solve problems and encourage intelligent minds with brilliant ideas to achieve more with natural resources.

Ndukwe is Chief Host At BoICT Event

ROYAL ENDORSEMENT

L–R: Group Head, Retail, Skye Bank, Ndubuisi Osakwe; Ayangburen of Ikorodu, Oba Kabiru Shotobi, his counterpart, Obateru of Egbinland, Oba Hakeem Adeoriyomi Oyebo, Group Head, Greater Lagos II Region, Jumoke Odutola and Head, Small Business Group, Ayodele Olojede at the ﬁrst draw of the ‘Reach for the Skye Millionaire’ reward scheme held in Ikorodu …recently

PwC Raises the Alarm over Imminent Disruption in Financial Sector Emma Okonji A survey report released recently by PricewaterhouseCoopers (PwC), has raised a deep concern over possible disruption of Nigeria’s financial service sector by financial technology (FinTech) players. According to the report, the Nigerian retail banking and payments sectors would be the most disrupted by a group of new companies building financial technology solutions. The PwC survey, which was conducted around 50 Chief Executive Officers (CEOs), and industry leaders across various segments of Nigeria’s financial services industry with additional insights and proprietary data obtained from DeNovo, PwC’s Strategy & Platform focused on

ECONOMY the FinTech innovation, and concluded that FinTech solutions would could cause a great deal of disruption in the country’s financial services market. According to the report, FinTechs are redrawing the competitive financial services landscape and blurring the lines that define players in the sector. Their offerings range from competing financial services such as alternative lending, to additive solutions atop existing banking services, to enabling technologies for the banks themselves. Capitalising on the latest mobile, cloud and digital technologies, Nigeria is increasingly becoming home to many FinTech firms trying to shake up and be accretive to

the banking value chain, the report said. Findings from the survey by PwC also revealed that Nigerian financial services players see changing customer needs as the top impact FinTechs have on their business, with up to 60 per cent of respondents indicating that up to 40 per cent of financial services business will be at risk of standalone FinTechs by 2020. Presenting the report in Lagos, Associate Director and Co-FS Advisory Lead at PwC Nigeria, Adedoyin Amosun, said: “From our survey, retail banking and funds transfer have the highest likelihood of disruption at 92 per cent and 85 per cent respectively. Underwriters were of the view that insurance brokerage, Auto and Life insurance stand an equally

high likelihood of disruption at 77 per cent. While the threats of disruption is quite appreciated, our respondents also noted the opportunities FinTech adoption will bring especially as seen in the unlocking of opportunities for more revenue sources and reduce operational cost. A sizeable number also believe that Fintech adoption will improve customer retention and product differentiation.” According to Amosun, majority of respondents from traditional financial industry players believed that part of their business is at risk of being lost to standalone FinTechs, up to 92 per cent in the case of banks. Also Banks ranked loss of market share at the top Continued on page 24

Amaechi Seeks Lawmakers’ Support on Amendment of Moribund Maritime Laws Eromosele Abiodun Minister of Transportation, Rotimi Amaechi has urged the House of Representatives to support the ministry’s efforts to review and amend moribund laws and regulations guiding the management and operations of the maritime sector. Amaechi stated this over the weekend while speaking at a two-day retreat of the House of Representatives Committee on Ports, Harbours and Waterways in Lagos. Amaechi, who was represented by the Permanent Secretary, Ministry of Transportation, Sabiu Zakare said the review and amendment of the laws would

MARITIME make them not only relevant but also capable of handling current challenges and developments in the industry. Amaechi also asked for adequate allocation in annual budgets for the implementation of critical maritime projects and programmes towards the realisation of the change agenda of the President Muhammadu Buhari administration. According to him, “In this respect, the honourable members may wish to be informed that currently, several states governments in the federation have enacted legislations which are in conflict with the powers

conferred on the federal government for the management and operations of ports and the inland waterways.” In his speech, Speaker of the House of Representatives, Yakubu Dogara, said the transport sector is vital to the diversification and growth of the Nigerian economy. He therefore, called for a suitable synergy between the legislature and the executive foe a sustainable partnership between the two arms of government. Dogara, who spoke through the Deputy Chief Whip, House of Representatives, Mr. Paley Eriase pointed out that the present economic recession is undoubtedly taking its toll on

Nigeria adding that all hands must be on deck to support the government in its determined efforts to create and propel other sources of revenue to boost the economy. He said: “I am happy to say that we in the legislature are fully committed to giving maximum support to the timely passage of the 2017 budget so that implementation of the projects of the Federal Ministry of Transportation can commence. Let me use this opportunity to comment Mr President for the giant strides he has made in the transport sector within a short time, especially in the Continued on page 24

Communications Week Media Limited, organisers of Beacon of ICT (BoICT) distinguished lecture series, has named the chairman of Openmedia Group, Dr. Ernest Ndukwe as the chief host of this year’s BoICT event holding April 22, in Lagos. Ndukwe, one of Africa’s most sought after resource persons will be leading dignitaries to the event widely regarded as the most prestigious annual event available in the ICT industry in Nigeria. According to Communication Week Media Limited, a certified global ICT company with over 20 million subscribers and publishers of Nigeria CommunicationsWeek; the BoICT distinguished lecture, now in its eighth year, is the largest gathering of ICT practitioner; regulators; financial sector under one roof. MD/CEO, Communication Week Media Limited, Mr. Ken Nwogbo, said Ndukwe as chief host, would be quite fitting as the theme of the 2017 BoICTLecture is “Empowering YouthThrough Digital Citizenship” According to Nwogbo, the theme leans heavily on the fact that Information and Communication Technology has become a vital player in the national development of modern society. “Ndukwe is a champion of both policy and regulatory reforms and we need his experience to fire the kiln of productivity in the country. He is a trail blazer and great lover of humanity, we are happy to have him”, Nwogbo said, adding that the lecture series is reserved for distinguished achievers.

P&G Backs Gender Equality Globally

Leading global consumer products company Procter & Gamble today said it will expand its supplier base and sourcing from women in its move to support gender equality globally. “P&Gwillexpanditssupplierdevelopmentandsourcingfromwomenownedbusinessinoursupplychainsacrosstheworld,includingtheIndian subcontinent, Middle East and Africa,” the company said in a statement. As part of that P&G will “continue to reveal gender bias and spark conversations” through its brand advertising campaigns and would “encourage the wider advertising industry to do the same,” the company said. P&G will also extend programmes to keep girls in school in India, Kenya, Nigeria, South Africa, and Tanzania, it added. “P&G has been championing the cause of gender equality both inside and outside of P&G, leveraging the strengths of our business and operations, our scale and our advertising voice to address gender bias and enable education for girls and women’s economic empowerment,” said IMEA President for P&G Mohamed Samir. P&G’s commitment to gender equality is in line with the United Nations Sustainable Development Goal to achieve gender equality and empower all women and girls globally, it added. “P&G, working with our NGO partners on the ground, will empower women & girls impacted by the Syrian refugee crisis to realise their potential,” the company said.

“The banking system has built buffers to absorb any shock. I also believe that the central bank is aware of these buffers and they can unlock them when necessary” Chief Executive Oﬃcer, Diamond Bank Plc,

Mr. Uzoma Dozie

T H I S D AY ˾ MONDAY, FEBRUARY 20, 2017

BUSINESSWORLD PWC RAISES THE ALARM OVER IMMINENT DISRUPTION IN FINANCIAL SECTOR

FinTech related threat, closely followed by increased pressure on margins. One of the ways in which FinTechs are able to do this is by significantly shrinking operating costs. Other FS incumbents ranked information security and privacy concerns as the key FinTech threat to their business. Analysing the survey report, Advisory Partner and Chief Economist, PwC Nigeria, Dr. Andrew Nevin, said: “FinTechs are empowering customers by providing services that are delivered via technology applications on customer’s mobile devices. This allows consumers conveniently initiate and complete transactions, connect to third party entities and access information without restrictions.”

AMAECHI SEEKS LAWMAKERS’ SUPPORT ON AMENDMENT OF MORIBUND MARITIME LAWS

rehabilitation and revitalisation of the rail infrastructure as disclosed by oversight reports.” The Nigerian ports and the maritime sector, he said, has the potential to sustain the economy adding that the present administration is doing a lot to reposition the sector. He added: “It is truly heartwarming that the industry stakeholders have finally agreed on the importance and inevitability of an economic regulator as evidenced in public hearing the house conducted on the National Transport Commission Bill. One of the decisions that should come out of this retreat is the shape and form of an industry regulator and the need or otherwise of the National Transport Commission.” On his part, the Chairman House of Representatives Committee on Ports, Harbours and Waterways, Patrick Asadu said the retreat will arm members with the real time knowledge needed to revisit the relevant laws by way of amendments so as to bring them up to speed with international standards, “with the specific aim of re-engineering our nation al economy through the maritime industry.”

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Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Crusoe Osagie

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Maritime) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (AgriBusiness)

NEWS

PenCom Seeks Approval of N5.09bn As Total Expenditure in 2017 Ebere Nwoji The National Pension Commission (PenCom) is requesting for a total sum of N5.099,923,345 billion from the federal government for its capital expenditure and overhead cost for its operations in 2017. This is against the N849,923,346.90 million in the ratio of N750,000,000.00 for capital subvention and N99,923,346.90 million for overhead cost allocated to it in the 2017 federal budget. The Director General, PenCom, Chinelo Anohu Amazu, who made the request in her 2017 budget defence at the senate Committee on Establishment and Public Service in Abuja, explained why the commission requested for amount higher than what was estimated in the appropriation bill, saying there is need for PenCom to expand its activities. “PenCom wishes to respectfully inform the esteemed Senate Committee on Establishment and Public Service that it was compelled, in its budgetary submission to the Ministry of Budget and National Planning, to stay within the limits stipulated in the template forwarded to it by the Ministry. However, we would like to request for the appropriation of the sum of N5,000,000,000.00 as Capital Subvention instead of the N750,000,000.00 allocated. The request is broken down into the following project components: Purchase/Acquisition of

Land, remodeling/Construction of Office Building, Remodeling of Head Office, Construction of Zonal Offices, Architectural and Other Development Costs”, she stated. Giving further breakdown of the project components, the penCom boss said the commission would require a total of N113,023,255,000.00 for settlement of benefits and rights of federal government retirees in 2017, as against the sum of N50,195,808,918.00 submitted by the federal government in the 2017 appropriation bill. This, she said shows a shortfall of N62,827,446,082.00.

Quoting Section 39(3) of the Pension Reform Act (PRA) 2014, she said her request is in accordance with the law. According to her, the most critical challenge of the implementation of the Contributory Pension Scheme (CPS) in Nigeria is the non-payment of retirement benefits of federal government employees who retired in 2016 due to insufficient appropriation and late release of appropriated funds for payment of accrued pension rights. “PenCom would like to make a case first, on the need for adequate appropriation of funds for the payment of the Federal

The National Pension Commission (NPC) has said it would target the informal sector in the first quarter of 2017, considering successes recorded by the new pension reform, which led to significant increase in pensions assets to N6 trillion. The Director General of the Commission, Mrs. Chinelo Anohu-Amazu, stated this at the weekend at an executive breakfast meeting held by Society for Corporate Governance Nigeria, with the theme: “Corporate Governance : a pension Industry perspective.” According to AnohuAmazu, the decision was based on the number of people in the informal sector, stating that they constituted a large chunk of the nation’s work force. The DG, represented by Head, Research and Corporate Strategy Department of the Commission, Dr. Farouk Aminu, said the macro-pension scheme was being introduced to the grassroots to enable an effective system. “The macro-pension scheme is going down to the grass roots and make sure that people understand, not only understand pension

instead of this, the National Assembly approved only the sum of N50,195,808,918.00 in the 2016 Appropriation Act, thereby resulting in a shortfall of N41,719,090,082.00. The PenCom DG noted that out of the N50,195,808,918.00 appropriated for the Retirement Benefits Bond Redemption Fund (RBBRF) Account in the 2016 Appropriation Act, only N18,823,428,342.00 was released into the RBBRF Account, adding that this leaves an outstanding balance in the sum of N31,372,380,576.00 which are yet to be released for 2016.

PARTNERING FOR PROGRESS

Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman (left) and the Corp Marshal of Federal Road Safety Corps (FRSC), Dr. Boboye Oyeyemi exchanging copies of the MoU between both organisations at the corporate headquarters of NPA in Marina, Lagos…recently

… to Target Informal Sector Bennett Oghifo

Government’s pension liability under the Contributory Pension Scheme. Secondly, our submission also seeks appropriation for overhead and capital subvention to facilitate the Commission’s operations in 2017”, she stated. Furthermore, she said that based on the number of verified and enrolled federal government employees that retired from January to December 2016, under the Contributory Pension Scheme (CPS) as well as deceased employees within 2016, government ought to have provided the sum of N91,914,899,000.00 in the 2016 FGN Appropriation Bill. She however noted that

but also participate.” The PenCom boss added that pension transitional arrangement directory has been introduced to cater for those that are exempted from the contributory pension scheme. The commission, she said has further introduced certain safeguards as a corporate governance mechanism to ensure safety of the contributory pension scheme, listing some of these measures to include investing 71 per cent of the N6 trillion equity in federal government securities, N50 billion mortgage refinancing, strong legal and institutional framework, separation of custody from administrative of pension assets, meticulous investment limits and risks rating requirement, as well as segregation of Pension funds from assets of operators and daily monitoring of investment of pension funds. She noted that before the reform in 2004, the pension system had enormous challenges, including lack of effective regulation and supervision in both public and private sector, adding that most private schemes were resignation rather than retirement scheme. She said: “There is lack of transparency and implementation of pension,

we had issues with poor administration, corruption, lack of pension data base, issues of addition of ghost pensioners, issues of government giving money to pension administrators to pay money and they will refuse to pay.” Some of these issues, she said have been tackled with the reform of the pension scheme, adding that the macro-pension scheme was being introduced to the grassroots to enable an effective system. “The macro-pension scheme is going down to the grass roots and make sure that people understand, not only understand pension but also participate,” she said. The DG, however, called for more awareness to enable the common man benefit from the pension scheme. She said: “It is better you open a savings account that will give you pension when you need the pension, the trouble we have is that when people are making a lot of money they don’t think that tomorrow will be bad, so they consume everything, we are trying to make them understand that they need to save and plan for their future in order to have a quality old life when you are old.”

House Committee Mediates in JosepDam, Honeywell Dispute Eromosele Abiodun The House of Representatives Committee on Privatisation and Commercialisation has said that it will do everything possible to resolve the 10-year conflict between Honeywell Flour Mills and a terminal operator at Terminal A, Tin Can Island Port, JosepDam Port Services Limited. Members of the committee recently paid a visit to the JPS facility in Lagos as part of efforts to end the face-off. The Vice- Chairman of the committee, Shadimu Mutiu, who led the committee on the visit, said the move was to resolve the rift and enhance port facilities. According to Mutiu, “We are here in respect of the petition written by Honeywell against the JPS and we are here to see how we can amicably solve the problem without necessarily resorting to legal issue. “The conveyor belt in question belongs to Honeywell but it is situated inside the Terminal A, which belongs to the JPS. Hopefully, we will resolve the issue out of court.” Speaking at the meeting, the Managing Director of the JPS, Simon Travers, accused Honeywell of stalling the firm’s development plan, explaining that due to the presence of a conveyor belt belonging to Honeywell in the area given to the JPS by the Nigerian Ports Authority since 2006, the operators were unable to execute their port development plan. Specifically, he said: “We have a concession agreement with the

NPA, which clearly states what our development plan is and we cannot fulfil the developmental plan on the basis that there are structures within the terminal in our way.” In his response, the Managing Director of Honeywell Flour Mills, Mr. Lanre Jaiyeola, said the conveyor belt had been deactivated but had not been removed from the JPS terminal. “The JPS has no power to demand the removal of the conveyor belt since there is an agreement between the milling firm and the NPA,” he said. The Deputy Director, Bureau of Public Enterprise, Mr. Abdulaziz Mafindi, said the bureau and the NPA had made efforts in the past to resolve the dispute but no sustainable agreement was reached. He said: “The BPE and NPA jointly handed over the operations and management of the terminal to the JPS. It is our responsibility to hand over this terminal without any encumbrances but unfortunately, this was not done as a result of the presence of Honeywell conveyor belt in their terminal. “We expect that at the end of the concession agreement, there should be a remarkable infrastructure development in the terminal so that it would have added value when the terminal will be given out again through concession but they have not been able to do that because of the presence of the conveyor belt. In the past, we had made efforts to mediate and find a lasting solution to this problem; here we are again, trying to solve the same problem.”

T H I S D AY Ëž MONDAY, FEBRUARY 20, 2017

BUSINESSWORLD

MARKET REPORT

Stock Market Continues Free Fall on Investor Apathy Goddy Egene and Nosa Alekhuogie The Nigerian equities market sustained its bearish trend declining for the third consecutive week on persistent investor apathy. With a bearish start to the week, the Nigerian Stock Exchange (NSE) All-Share Index (ASI) recorded back-to-back losses, shedding 0.38 per cent on Monday and 0.84 per cent. Although the market rebounded on Wednesday and Friday, the two-day gains were not enough to offset the losses of Monday, Tuesday and Thursday. Consequently, the ASI declined by 0.69 per cent to close at 25,164.91. In the same vein, market capitalisation shed N60.6 billion to close at N8.709 trillion. Daily Market performance The equity market opened the week on a negative note on Monday with the NSE ASI depreciating by 0.38 per cent to close at 25,244.29. Similarly, the market capitalisation depreciated by 0.38 per cent to close at N8.74 trillion. The decline came a result of losses recorded by stocks such as Access Bank, Nigerian Breweries, Oando, ETI and Stanbic IBTC. Investors traded 141.91 million shared worth N1.38 billion in 2,386 deals, down by 46.5 per cent from the N2.59 billion recorded on the last day of the previous week. The most actively traded sectors were: Financial Services (102.22 million shares), ICT (20.53 million shares), and Conglomerates (5.04 million shares), while the three most actively traded stocks were: GT Bank (26 million shares), UBA (25.85 million shares) and Etranzact (20.43 million shares). Performance across sectors was largely mixed as three indices gained while two declined. The NSE Consumer Goods Index recorded the fifth consecutive decline, shedding 2.3 per cent as investors sold off Nigerian Breweries Plc, and NASCON Allied Industries Plc among others. The NSE Insurance Index went down by 0.2 per cent following losses by AXA Mansard Insurance Plc and NEM Insurance Plc. On the positive side, the NSE Industrial Goods Index rose 0.59 per cent on gains booked by Dangote Cement (0.5 per cent), while the NSE Banking Index closed the day 0.3 per cent higher. This was as a result of appreciation recorded by Zenith Bank Plc (1.9 per cent) and GTBank (1.0 per cent). In the same vein, the NSE Oil & Gas Index added 0.2 per cent propelled by gains in Seplat (1.3 per cent) and Forte Oil Plc (0.2 per cent). The market extended its bear run as the NSE ASI fell further by 0.84 per cent to close at 0.84 per cent at 25,032.17. Access Bank, Nigerian Breweries, Nestle, Zenith Bank and Unilever were among stocks that depressed the market on Tuesday. Respite eventually came to the Nigerian equities market on Wednesday as the bull regained control following renewed interest in some counters due to attractive prices. Consequently the NSE ASI appreciated by 0.39 per cent to close at 25,130.26. The positive mood was triggered majorly by the Oil & Gas, Consumer and Industrial Goods sectors led by Forte Oil (+10.23 per cent), Nigerian Breweries Plc (+4.15 per cent), Beta Glass (+4.9 per cent), Dangote Cement (+0.59 per cent) and United Capital Plc (+4.23 per cent). The value of equities traded, however, decreased by 6.14 per cent to N1.796 billion from N1.914 billion transacted previously.

Market turnover Meanwhile, a total turnover of 1.073 billion shares worth N8.608 billion in 14,486 deals were traded by investors last week, compared to 1.052 billion shares valued at N8.031 billion that exchanged hands last week in 13,586 deals the previous week. The Financial Services Industry led the activity chart with 930.380 million shares valued at N5.701 billion traded in 8,759 deals, thus contributing 86.70 per cent and 66.24 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 52.480 million shares worth N1.992 billion in 2,513 deals. The third place was occupied by Conglomerates Industry with a turnover of 22.125 million shares worth N39.217 million in 499 deals. Trading in the top three equities namely â&#x20AC;&#x201C; Staco Insurance Plc, Zenith Bank Plc and Guaranty Trust Bank Plc accounted for 473.880 million shares worth N4.269 billion in 2,254 deals. On the other hand, the total volume of equities traded rose by 11.77 per cent to 161 million in 4,216 deals. Three out of the sectoral indicators appreciated compared with two that depreciated. The NSE Consumer Goods Index rebounded from a sixday bearish run, adding 1.7 per cent as investors sought for bargains in Nigerian Breweries (+4.2 per cent) and International Breweries (+4.7 per cent). The NSE Oil & Gas Index followed closely with a day return of 1.1 per cent on account of buy interest in Forte Oil (+10.2 per cent). In the same vein, the NSE Industrial Goods Index closed 0.3 per cent higher. Conversely, the NSE Banking Index shed 1.1 per cent, just as the NSE Insurance Index declined by 0.5 per cent. Rather than consolidate on the gains recorded the previous day, the market drift into back to red zone as the NSE ASI fell by 0.30 per cent to close at 25,055.29. Similarly, the market capitalisation depreciated by 0.30 per cent to close at N8.67 trillion. The depreciation recorded in the share prices of Nigerian Breweries, Zenith Bank, Stanbic IBTC Holdings, Forte Oil and Flour Mills were mainly responsible for the decline. The total volume of stocks traded was 144.39 million in 2,303 deals, while the three most actively traded stocks were: UBA (30.38 million shares), GTBank (23.64 million shares) and FCMB (13.09 million shares). The most actively traded sectors were: Financial Services (129.44 million shares), Consumer Goods (4.35 million shares), and Conglomerates (3.94 million shares). The equity market rebounded on

Friday as the NSE ASI appreciated by 0.44 per cent to close at 25,164.91, while market capitalisation went up by same margin to close higher at N8.67 trillion. Renewed demand for shares of

TOP TEN BROKERS(BY VALUE)

Nigerian Breweries, Access Bank, Stanbic IBTC Holdings, PZ Cussons and GTBank led to price gains, which eventually contributed to the positive close.

AS AT LAST FRIDAY

BROKER

VALUE % VALUE

STANBIC IBTC STOCKBROKERS LIMITED

4,619,824,387.08

26.25

CSL STOCKBROKERS LIMITED

2,675,627,031.05

15.20

EFCPLIMITED RENCAP SECURITIES (NIG) LIMITED

1,406,958,389.81 1,006,048,508.69

7.99 5.72

SECURITIESAFRICAFINANCIALLIMITED-BRD

784,107,665.37

4.46

A.R.M SECURITIES LIMITED - BRD

619,535,343.25

3.52

FBN SECURITIES LIMITED

514,429,264.62

2.92

VETIVA CAPITAL MANAGEMENT LTD

437,454,656.60

2.49

CARDINALSTONESECURITIESLIMITED

432,489,957.64

2.46

330,688,657.34 12,827,163,861.45

1.88 72.89

IMPERIAL ASSET MANAGERS LIMITED -BRD

TOP TEN BROKERS

(BY VOLUME)

BROKER IMPERIAL ASSET MANAGERS LIMITED -BRD STANBIC IBTC STOCKBROKERS LIMITED CSL STOCKBROKERS LIMITED

AS LAST FRIDAY VOLUME

%VOLUME

506,043,868

23.24

300,611,606

13.81

128,604,502

5.91

CARDINALSTONE SECURITIES LIMITED READINGS INVESTMENTS LIMITED - BDR

90,703,503 66,301,492

4.17 3.05

EFCP LIMITED

64,538,319

2.96

FBN SECURITIES LIMITED

63,561,563

2.92

MERISTEM STOCKBROKERS LIMITED

63,268,727

2.91

A.R.M SECURITIES LIMITED - BRD RENCAP SECURITIES (NIG) LIMITED

61,183,175

2.81

60,713,765

2.79

1,405,530,520

64.56

Price Gainers and Losers The price movement chart showed 29 equities that appreciated higher than 19 equities of the previous week. Conversely, 25 equities depreciated in price, lower than 38 equities of the previous week, just as 123 equities remained unchanged compared with 119 equities recorded in the preceding week. PZ Cussons led the price gainers with 21.2 per cent to close at 13.39 per share. Julius Berger Nigeria Plc and Beta Glass Plc trailed with a gain of 10.2 per cent apiece just as Forte Oil Plc garnered 9.9 per cent. United Capital Plc chalked up 7.6 per cent as investors reacted to the impressive full year 2016 results. The company recorded a jump of 133 per cent in profit after tax and declared a dividend of 50 kobo per share. Jaiz Bank Plc which got listed the previous week, added 6.1 per cent to its value, just as Dangote Flour Mills Plc, Livestock Feeds Plc and FBN Holdings Plc appreciated by 5.6 per cent; 5.5 per cent; and 5.4 per cent in that order. Conversely, Nigerian Breweries Plc led the price losers, shedding 8.0 per cent to close at 11.4 per cent, followed by CAP Plc with a decline of 7.5 per cent. Eterna Plc and AXA Mansard Insurance Plc went down by 6.7 per cent, and 6.2 per cent in that order. Other top price losers included: Guinness Nigeria Plc (6.2 per cent); Stanbic IBTC Holdings Plc (5.9 per cent) Diamond Bank Plc (5.7 per cent) and NASCON Allied Industries Plc (5.0 per cent).

T H I S D AY ˾ MONDAY, FEBRUARY 20, 2017

BUSINESSWORLD

INSIDE BROAD STREET

A view of Lagos ﬁnancial district

AKINWUNMI IBRAHIM

MSMEs as Gateway to Economic Prosperity Obinna Chima Micro, small and medium scale enterprises (MSMEs) play a major role in most economies, particularly in developing countries. In fact, MSMEs contribute up to 45 per cent of total employment and up to 33 per cent of national income (GDP) in emerging economies, according to a report by the World Bank. According to estimates, 600 million jobs will be needed in the next 15 years to absorb the growing global workforce, mainly in Asia and sub-Saharan Africa. In emerging markets, most formal jobs are with SMEs, which also create four out of five new positions. However, access to finance is a key constraint to SME growth, as without it, many SMEs languish and stagnate. Clearly, 50 per cent of formal SMEs don’t have access to formal credit. The financing gap is even larger when micro and informal enterprises are taken into account. Overall, the World Bank report indicated that approximately 70 per cent of all micro, small and medium scale enterprises in emerging markets lack access to credit. While the gap varies considerably between regions, it’s particularly wide in Africa and Asia. The current credit gap for formal SMEs was estimated to be $1.2 trillion; the total credit gap for both formal and informal SMEs as high as $2.6 trillion. Furthermore, a World Bank Group study suggests there are between 365-445million micro, small and medium enterprises in emerging markets: 25-30million are formal SMEs; 55-70 million are formal micro enterprises; and 285-345 million are informal enterprises. Moving informal SMEs into the formal sector can have considerable advantages for the SME (for example, better access to credit and government services) and to the overall economy (for example, higher tax revenues, better regulation). Also, improving SMEs’ access to finance and finding solutions to unlock sources of capital is crucial to enable this potentially dynamic sector to grow and

MARKET INDICATOR provide the needed jobs. For Nigeria, the significant drop in crude oil revenue has compelled policy makers to continue to fashion out strategies to support the non-oil sectors, with increased focus on SMEs and the agriculture sector. FG’s Intervention Over the years, successive governments had developed quite a number of strategies, programmes and promises to make this very critical sector work. The outcome, however, had not made much impact. But as part of its commitment to the sector, the federal government led by President Muhammadu Buhari, recently commenced series of MSME clinics around the country. The Vice President, Professor Yemi Osinbajo inaugurated the exercise in Abuja. The initiative was structured to focus on finding a one-stop-shop which addresses different challenges confronting operators in this sector. And the move was to bridge the information gap between the authorities and MSMEs with the aim of encouraging small businesses to be more efficient and capable of competing at the global level. Though many would say, let this charity begin at home whereby these small businesses are seen to have successfully taken-off properly, with some breath of life, competing among one another locally, the effort of the government should not be disregarded. Championed by the Corporate Affairs Commission (CAC), with a number of government agencies such as, Nigerian Investment Promotion Council (NIPC), Nigerian Export Promotion Council(NEPC), Small and Medium Enterprise Development Agency (SMEDAN), FIRS, BOI, Customs, Ministry of Trade and Investment, among many others, these agencies are getting mobilised to ensure this agenda delivers its objectives. This strategic initiative is being organised in 21 cities across the six geo-political zones

of the federation. Due for quality applause for waking up to full consciousness of the fact that total hope on oil is not sustainable, the government is indeed not pretending about the fact that agric value chains and manufacturing, (largely MSME segments), are the way to go. Also, the Central Bank of Nigeria (CBN) had launched the MSME Development Fund with a share capital of N220 billion, in other to support operators in the sector. The fund was said to have been established in recognition of the significant contributions of the MSME sub-sector to the economy and the existing huge financing gap. FCMB’s Role First City Monument Bank (FCMB), comes to mind. The establishment has taken financial intermediation to this key sector of the economy as one of its operational areas of strength. This can be buttressed by the fact that the bank’s intervention has resulted in better access to financial resources by needy individuals, women owned firms and empowerment outfits as well as small and medium scale businesses and organisations. FCMB has continued to deepen its support to Small and Medium Scale Enterprises (SMEs) in Nigeria by disbursing over N3 billion to such businesses in the last 18 months. The development has led to an increase in the number of SME operators that have benefitted from the funding support of the bank across the country. The lender is one of the top participating banks appointed by the CBN to drive the N220billion MSMEDF. But beyond the funding, FCMB had put in place, various initiatives and capacity building programmes that have fast-tracked the growth of SMEs, thereby up-scaling their contributions to the development of the country. Apart from training sessions organised for owners of SMEs, the bank has brought its team of experts in the sector closer to the people by having dedicated loan officers at some of its branches nationwide. These officers are trained and equipped to provide SMEs with the best and most effective advice

and support. In addition, the bank has established an empowerment programme, called Cluster Marketing, for operators of SMEs. The initiative was designed to enhance their financial, marketing and management skills. In the same vein, FCMB has continued to aggressively support women managed businesses in line with the MSME fund scheme by collaborating with women involved in small businesses for the provision of funding, sponsorship and advisory services. These interventions were in line with the bank’s value as a helpful bank committed to enhancing the growth and achievement of the personal and business aspirations of its customers and the nation in general. Speaking on the feat recorded by the bank in the MSMEs space, the bank’s Divisional Head, Retail, Mr. Olu Akanmu, said: “SMEs are the bedrock of any country’s economic development. It can hardly make good progress except the SMEs excel. Therefore, being a forward looking bank with the appropriate desire for growth, we have decided to provide this sector with maximum support.” He reiterated the commitment of the financial institution to support its customers operating in the SMEs space to overcome the challenges they usually face, especially at the take-off stage, ‘’because we want to be part of their success story.’’ Akanmu advised SMEs to re-examine their operations and effectively position themselves to take advantage of the opportunities within the country. According to him, ‘’there are huge intervention funds from both government and multi-national agencies focused on supporting SMEs. Some are focused on helping with affordability, in other words reducing the cost of borrowing, while others are focused on accessibility, in other words helping to mitigate those risks that make small and medium scale businesses fail credit acceptance tests or requirements. Unfortunately, a good number of the outfits do not know the difference and therefore adopt the same strategy for accessing both. This will rarely work.’’

T H I S D AY ˾ MONDAY, FEBRUARY 20, 2017

BUSINESSWORLD

APPOINTMENT / AWARDS

Ete Emerges Chevron PENGASSAN Branch Chairman Comrade Onyegbaren Ete has been elected as the Chairman of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Chevron Branch to steer the affairs of the Branch for the next three years. Ete scored 54 votes of the 65 votes to emerge the winner during the Fourth Triennial Branch Delegates’ Conference of PENGASSAN Chevron Branch in Benin City, Edo State, on Thursday. Comrade Musa Leroy was also elected as Vice Chairman, while Comrade Ameh Charles, Comrade Asekutu Wilson and Comrade Isoje Martin emerged Secretary, Assistant Secretary and Treasurer respectively. Other branch officers, according to statement weekend, elected at the Branch Delegates Conference are Comrade Akata

Michael, Industrial Relations Officer (IRO); Comrade Anyawu Kingsley, Public Relations Officer (PRO); Comrade Blessing Ekanem, Chairperson, Women-in-PENGASSAN (WIP); Comrade Yellowe Taribo, Auditor; and the immediate Past Chairman, Comrade Frank Esanubi, as Ex-Officio. In his remarks, the PENGASSAN President, Comrade Francis Olabode Johnson, who commended the delegates for their spirit of oneness and comradeship to collectively surmount many challenges confronting the union since his assumption of office as president, said that the BDC was an opportunity to appraise the union’s approach in pursuing plans and industrial relations system that will grow both the company and PENGASSAN. “This gathering should

explore the golden opportunity to realise the importance of trade unions in organisational growth, as the ongoing reforms in the oil and gas sector will definitely impact on labour management relations in the industry,” he said. The Immediate Past Chairman, Comrade Frank Esanubi, in his welcome address, noted that the past years was very challenging due to negative growth of the country’s Gross Domestic Product (GDP), worsening exchange rates for the naira, double digit inflation, among other economic woes, adding, “Recession is not just a word; it is a reality which impacts on the lives of workers and members of their families.” In his acceptance speech, the new Chairman, Comrade Ete, said that the challenge ahead of the new Branch Executive

Council (BEC) are onerous but called for the continued support and commitment of all members to the cause of the struggle to make the union victorious on all fronts. He said, “We as an Association having come together to achieve common goals, such as protecting the integrity of our CBA, improving safety standards , achieving higher pay and benefits, health care as comprehensively as promised, better retirement benefits, and improved working conditions. “As legally recognised representatives of our members, the BEC will put its feet on the ground in disputes with management over violations of our CBA provisions. We will always operate within the design and perimeters of the organisation and the union.”

BUSINESS COLLABORATION

R-L: Chairman, Teach For Nigeria, Gbenga Oyebode; Founder, Teach For America and CEO/Co-founder, Teach For All , Wendy Koppand and Chief Executive Oﬃcer , Teach For Nigeria, Folawe Omikunle, during the launch of Teach For Nigeria supported by Sterling Bank Plc in Lagos...recently

Gionee Picks Sheyi Shey as Ambassador To deepen their relationship with Nigerian consumers, handlers of the Gionee, a mobile phone brand has unveiled Nigerian music sensation, Deborah Oluwaseyi Joshua (sheyi Shey) as its brand ambassador. The choice of the beautiful artist according to the company is to make products of Gionee attractive to Nigerians and create a buzz on the availability of the brand locally. The company said the deal will see the artist being part of the brand’s promotional activities to help reach the targets many of whom are music lovers and fans of Sheyi Shey. Speaking on the choice of the artist as face of Gionee in Nigeria, Marketing Director,

Gionee Nigeria, Somoye Habeeb, stated that Sheyi Shey possess the qualities that are in tandem with Gionee brand value. Habeeb said, “We needed an ambassador to localise the brand. To tell it around the world that Gionee is in Nigeria to stay. Gionee is one of the top five mobile phone brands in the world. We had a list to pick from but we wanted somebody that will sell the value we stand for. “We needed a popular artist, beautiful, energetic, of good age and a socially responsible person. We looked at the demography of this artist and that of our target customers. We also considered the psychographic factors. And Sheyi Shay combines all these and that was why she won

the chance to be the face of Gionee brand.” The new face of Gionee on her part said the brand matches the uniqueness of her style of music and her personality. She added that she will do everything within her power to make the brand a household name in Nigeria. “I got to where I am today by hard work and I’m very grateful for the position I’m in today. For me, Gionee represents freshness, strength, agility and the future. So when I was approached to take up this role, I had to oblige because this is everything I built my brand up to be. My brand of music is organic and I appeal to a wide segment of the market ranging from age 12-50. I intend on pushing with all my might

to make Gionee the number one phone here in Nigeria. I look forward to a great and productive relationship with Gionee,” she said. Having entered the Nigerian market in 2011, the Chinese manufacturing company currently has nine models of its products that appeal to different segments of the market. Observers have described the move as a smart one, considering the fact that entertainment, especially music and sports command great audience and followership among Nigerians across various market segments. This explains why brands are increasingly employing these platforms to reach their target audience in one of their major areas of interest.

Oseni Joins Lagos State Economic Team The Executive Director in charge of North & Retail Directorate at Wema Bank Plc, Moruf Oseni has been appointed a member of the Lagos State Economic Advisory Committee. The primary role of the committee is to offer advice to the government under the four strategic 2012-2025 Lagos State Development Plan (LSDP). Moruf was named part of the 12-member committee that has representatives from both the public and the private sectors in January. A statement by the state government confirmed the rationale behind its decision to select Moruf as a member of the team. The secretary to the state government, Tunji Bello noted

that the Wema Bank Executive Director and other members of the committee were selected based on their known track record of integrity, independence of thought and outlook, as well as diverse industry experience. Moruf joined Wema Bank in 2012 after years of experience at global investment banks like Citigroup, Salomon Brothers and Renaissance Capital. He holds an MBA degree from the prestigious Institut European d’Administration des Affaires (INSEAD) in France, a Masters in Finance (MiF) from the London Business School, London and a B.Sc. degree in Computer Engineering from Obafemi Awolowo University (OAU), Ile-Ife, Nigeria.

CAC Chief Wins Innovative Leadership Award The Nigeria Bar Association (NBA) Abuja Branch has conferred on the Registrar-General, Corporate Affairs Commission (CAC), Alhaji Bello Mahmud an Innovative Leadership Award. The Award was in recognition of a job well done particularly as it relates to innovative leadership in repositioning the Commission to its present status. At the last CAC –NBA Compliance Workshop with the theme, obtaining efficient and effective services of the Commission, the NBA Chairman, Barrister Ezenwa Anumnu officially announced the Award which was formally presented to the Registrar-General in his office. Responding, the RegistrarGeneral expressed gratitude for the kind gesture. He pointed out that throughout his first tenure in office, he refused to accept awards from any quarter, saying that he only opened up to awards when he was convinced of notable performance and justification of accepting any award. He commended the existing cordial relationship between NBA and the CAC, urging them to keep up the good work. Highlights of the notable reforms that the RegistrarGeneral is lauded for include among others, the development of new registration software, the Company Registration Portal

(CRP). Since the launching of the CRP in February 2015, company registration activity has witnessed progressive increase. It affords customers online and real-time access to the services of the Commission from the comfort of their offices and homes using different e-payment platforms such as inter-switch, e-transacts, mastercard, verve and visa. Others are collaboration with Federal Inland Revenue Services on electronic stamping of documents. The e-stamping will dispense with physical submission of documents which causes delay and facilitates one stop online shop for company registration. Introduction of public search window in the Commission’s website such that the public can conduct searches on existing registered companies. The measure will guarantee a more transparent system as it will help in checking the status of companies. Decentralisation of CAC operations; With decentralisation, it is now possible to start and complete registration of limited liability companies and collect the certificate at 5 State Offices without recourse to Head Office. These State Offices are Lagos, Port Harcourt, Kaduna, Kano and Enugu. The start-to-finish registration is to be extended to other State Offices in due course.

Mothers Win Gold Ring Award at SOS Children Village SOS children’s villages, the world’s largest charity organisation in Nigeria recently welcomed her president Mr. Siddhartha Kaul and honoured mothers in the charity house, who served for over ten years with the mother gold ring award. After spending time with SOS children and mothers in the village, Kaul enthusiastically spoke of the SOS Family based model of care “the SOS model of providing care for children without parental care is one of the best, as they are still in a family setting within their own country”, he said. He further stated that he hopes that more people learn about their programs and give them support. Earlier in his welcome address the board chairman SOS Nigeria Mr. Sylvester Egbodaghe repre-

sented by the board secretary Dr. Micheal Izeachi said mothers who are honoured today are dedicated and upright in the discharge of their duties and have served the organisation for ten years in discharging their duties as mothers to children in the village. He further stated that SOS Nigeria is set to tackle the contemporary challenges facing children in Nigeria and to help them grow and fit in into the society. The permanent secretary ministry of Youth and Social development Lagos state Mr. Muri Okunola pledges the ministry support to the SOS family and said the with the state government child abuse prohibition act that it will help to eradicate the menace of child abuse in the state.

T H I S D AY ˾ MONDAY, FEBRUARY 20, 2017

BUSINESSWORLD

INTERVIEW

Dozie: Nigerian Banks Have Built Buffers to Absorb Shocks Diamond Bank Plc recently attained a new level in its digital banking drive with the signing up of two million subscribers on its mobile banking app – Diamond Mobile app, and its Diamond Y’ello account. In this interview with Chika Amanze-Nwachuku and Obinna Chima, the bank’s Chief Executive Officer, Mr. Uzoma Dozie spoke on the bank’s aggressive drive for digital banking and how it is changing the lifestyles of its customers. Dozie also doused concerns about the health of Diamond Bank and other commercial banks, insisting that the banking system has built buffers to absorb any shocks. Excerpts:

Dozie One of the challenges with mobile banking is discoverability. Today, most people still don’t know that they can use their phones to do a lot of transactions, especially those residing in the rural areas. What are banks doing to push the awareness for such? People have been using their phones for transactions for a very long time. If you look at today, Diamond Bank has seven million customers. But two million out of that are using mobile apps or mobile channels to do their transactions. That is close to 40 per cent of our customer base. That is quite high for a supposedly country where a lot of people don’t know how to use smart phones. Then, when you understand that only 20 per cent of our transactions are done through the branches because everybody has to use their cards, it means that, that discoverability is actually happening. Now, in the rural areas, what have we done; we have gone into partnership with MTN to come up with the Diamond Y’ello, through which one can open a bank account in less than a minute. Again, one of the things that the Bankers’ Committee decided for this year is awareness on mobile payments, especially on its benefits. So, the drive for cash-less banking is going to be enhanced by the Bankers’ Committee as well

as policies that would encourage people to use mobile payments. So, that missing link whereby one or two banks would be promoting

We have removed a lot of uncertainties from the banking system, but a lot of people may not remember. I like to always remember where we are coming from. Yes, there are still some levels of uncertainties, but certainly not like before whereby until you see the money hit your account or until you go to the banking hall to check your account balance, but as an industry, we have removed all that.

mobile banking would no longer be there. That is because the whole financial industry agreed, because we know the benefits from a cost perspective as well as to bring everyone into the banking industry. More importantly, it would bring about reduction in operation risk. So, by this time next year, there would be a huge difference in discoverability as more people get used to mobile banking. For us, it is even great because if we can increase the pool of customers available, then competition would drive who would take market share. We have made great in-road because it is as if we have first mover advantage when it comes to bringing new customers to the banking industry and by giving them better ways to do their transactions. In the last two years, we have acquired more customers than most banks have. But there are lots of complaints about mobile banking by most customers, especially with regards to text alerts, which are one of the most important mobile banking features. What are you doing to address some of these issues? When people say most customers, I have two million people that do transactions in Diamond Bank on our mobile banking platforms

and get alert. The level of complaint is very minimal, so we can’t use the word ‘most.’ But those complaints are important to us. Even if it is one person that has issues on our mobile banking platform, we want to make sure we take care of that. There are some things that are not in our control. For instance, SMS alert is a network thing. But we also give customers different methods to check their details. When you make fund transfer and you don’t get the alert, there are ways to check your balance. Now, we have added USSD to it, you can go to your ATM to check your balance, and many other ways that you can check that were not there before SMS notification. Don’t forget, in the past what we had was that I would issue a cheque and I won’t know when you will draw the cheque and there used to be a lot of uncertainties associated with that. We have removed a lot of uncertainties from the banking system, but a lot of people may not remember. I like to always remember where we are coming from. Yes, there are still some levels of uncertainties, but certainly not like before whereby until you see the money hit your account or until you go to the banking CONTINUED ON NEXT PAGE

T H I S D AY ˾ MONDAY, FEBRUARY 20, 2017

BUSINESSWORLD

INTERVIEW

DOZIE: NIGERIAN BANKS HAVE BUILT BUFFERS TO ABSORB SHOCKS hall to check your account balance, but as an industry, we have removed all that. So what is the future of traditional banking, especially as some banks are still busy setting up new branches all over the places? We have stopped. Diamond Bank has stopped building branches. In the last two years, I have built only three branches and that was probably as a result of relocation of the branch or if the market moves, you move that branch out of that location and replace it. But our outlets have increased because we now have sales agents and we have agency banking. So, there is no need to build branches. We have enough branches to take care of the needs of those in the metropolis and you cannot use that same model in the new places you are going to. You have to come up with a new model, which is agency banking. These are people that already have established businesses that you partner with. It takes banking closer to the people. It also links the bank to the market people. You cannot go and build one big branch where the transaction level is low because you will be wasting shareholders’ funds. So for rural communities in states such as Ekiti, Edo, Imo and several others, how are you banking the people there, because your agency banking network is still not wide? Agency banking started about two years ago in this country. And if you look at the regulations surrounding agency banking, there are certain criteria that you must fulfil. So, first of all, what did we do? We had to come up with a banking application for it. We built and customised it with the design we had in mind because agency banking is different. Secondly, you have to get the agents which must be established businesses that must meet the stipulated criteria. Thirdly, you have to train. But before you do that, you test the product you are offering. So, it is not something that you just deploy nationwide. So, we have started, but it is going to take some time for it to go round. In the meantime, we have 50,000 Diamond Y’ello agents. So, anywhere we have MTN agents, they are actually fulfilling people’s banking transactions if they have Diamond Bank account. Diamond Y’ello is not like Mpesa in Kenya which is all about mobile money because in Nigeria, mobile money is restricted. With Diamond Y’ello, which is a full digital financial service, it is a savings account. You can open it in less than two minutes, you can receive money from any bank in Nigeria and you can transfer money to anybody in any bank in Nigeria immediately. That is the benefit of it all. But we also need government policies that support all those innovation. Cash transactions are very expensive for stakeholders in the financial sector, the regulators, the banks and other players. The cost of cash even to businesses is very high. All you have to do is to look at the checks and balances that people would put in their business because of cash. If they don’t trust the teller, they would employ security men to be monitoring the teller and also employ another set of person (s) to be taking stock. Imagine when you pay in electronically. If you pay electronically, wherever you are, you can see what is happening. Just like SMS notification, once there is a transaction on that account, you get an alert. For example, my son is schooling abroad, he has a Diamond Bank account. He is 14 years old. I gave him a card. Every time he does a transaction, I see the notification. I can even tell the location he is from the notification I get. It is also a way of monitoring people’s spending habit. But in my own case, because I also schooled abroad, they used to give me cash and nobody would know how I spent it. But today, I can monitor their spending pattern. As a bank, it helps us in data analyses. It can tell the profile of your customers, the things they like and those they don’t like. So, these are some of the benefits of digital banking and we believe that it is going to change our lifestyles positively. There is banking service and we also have customer experience. Banking service is just about cash withdrawal. So, we try to find out what actually you want to do with the cash so that you can do it in convenient and more efficient ways. Imagine, 30 years ago, if you

Dozie listen to a song and you like it, you will try to find out who sang that song. Once you find out, you take the pain to go to a record store to look for it; you find the record, pay for it and go home to play it. But today, if there is a song you like, you can get the link to itunes store, you pay for it and you start consuming it immediately. That is digital and that is what we are doing. But there is still scepticism surrounding digital banking because of privacy, risk of compromising sensitive data and others. What will you say to such people? I always laugh when people say that. Most people who even say that are already in digital. If you are on wattsapp, you have already compromised security because somebody already has your information. That is a digital means of communication. People’s information ready on the cloud. For example, if I have a piece of paper in my drawer, I may not know how many people would read it. If people accessed it, I won’t know those that accessed it and I may never find out those that accessed it. But if I have it on my system with all my firewalls, if somebody accesses, I can see the trail of when, how and the time. So, it is part of that education, which

With Diamond Y’ello, which is a full digital ﬁnancial service, it is a savings account. You can open it in less than two minutes, you can receive money from any bank in Nigeria and you can transfer money to anybody in any bank in Nigeria immediately. That is the beneﬁt of it all. But we also need government policies that support all those innovation

the Bankers’ Committee is going to spend a lot of resources doing. The world is riskier, but we just have to remember what it used to be before. So, instead of attacking bullion vans now, people are attacking systems. But that risk has always been there. There have been lots of concerns about the banking industry as a result of the naira depreciation and drop in crude oil prices. We would like to find out how prepared is Diamond Bank to withstand any shock in the industry? First of all, we are an international systemically important bank (SIB), so our Capital Adequacy Ratio (CAR) has to be above 15 per cent. We are in an economy that is deteriorating and if things do not improve, good businesses would suffer. That poses a threat to the banking industry and the country as well. So, in Nigeria, 15 per cent CAR is one of the highest in the world. Liquidity ratio at 30 per cent is very high and Cash Reserve Requirement (CRR) is very high as well. So the banking system has built buffers to absorb any shock. I also believe that the central bank is aware of these buffers and they can unlock them when necessary. When you talk about CAR, the best banks in the world have CAR of about eight per cent, but Nigerian banks have twice of that. Secondly, part of the issues that affected the industry was a result of the devaluation of the naira. We did not increase the risk of our business; the banks were just exposed to the devaluation. So, there are many levers that can be pulled by the central bank. We can look at reducing the CAR. But beyond that, the most important thing is making sure that the bank is above the prescribed capital adequacy level and ensures that you avoid things that would be a drag on your capital and ensure you don’t lose money. We also have a situation where there is lack of foreign exchange for businesses to get raw materials. So, it means that for the banks, we have to be looking at new markets that do not require foreign exchange, but can generate income. Sometimes it is not how much you are losing, but how much you are making to recover your losses. If you look at Diamond Bank’s operating income in the last two years, despite the challenges, our top line has been increasing, our deposit base has been increasing and the number of

our customers has been increasing. We are becoming more liquid because of our retail strategy. If you look at the cost over the last two years, our cost has been flat or even declining. Despite the subsidy removal, devaluation of the currency with foreign exchange being about 30 per cent of our cost, despite inflation at 18 per cent, what is driving all these? What is driving it is digital. What is driving it is our customers saying they are moving from branch to digital banking. Every time they do that, the cost of serving them is a fraction of what would been spent going to the branch. It also means that if I can only do 100 transactions in the branch which I can generate fees from, I can do one million transactions in that same time through digital platform without cost. So, I believe that the deterioration in oil price and production level is an opportunity for us to look at how to leverage on the numerous opportunities in this country. We can see that with what is happening in the agriculture sector. Despite the fact that we had a decline in the national Gross Domestic Product (GDP), the agriculture sector grew by four per cent. So, we need to take advantage of these. Is Diamond Bank raising fresh capital? We are always in the business of raising fresh capital. We are a bank. We are always looking for capital that best suits our requirement. If a capital deal that is cost effective appears, whether it is naira or Eurobond, we would definitely look at it. So, we are definitely making sure that we always have two things: the liquidity to meet our obligation and capital to absorb shocks that may arise in the economy. In a volatile economy such as ours, it makes sense to always be on the lookout for capital deals. What is the level of Diamond Bank’s investment in the agriculture sector? We have an agriculture team and we have customers in different spectrum in the sector. We are also beginning to work with people who are aggregating farmers and we have recorded successes in some of these. Again, we are working with our customers in this space to see how we can move agriculture from a cash-based system to a digital system. It is a journey that we have started and we are ensuring that we understand the sector more so that we can add value.

T H I S D AY ˾ MONDAY, FEBRUARY 20, 2017

BUSINESSWORLD

NEWS

First Millionnaire Emerges in Skye Bank’s Reward Promo Season II Draw One lucky customer of Skye Bank Plc., Olusola Olusegun Ezekiel has emerged the first winner and a Millionnaire of the draw of the Bank’s flagship ‘Reach for the Skye Millionaire reward promo’ season II, even as the Ayangburen of Ikorodu, Oba Kabiru Shotobi endorsed the initiative as life changing. Forty other customers of the Bank also walked away with consolation cash reward of N100, 000 for 10; and N50, 000 to another 10 customers, while 20 loyal customers won N20, 000 with new customers who opened account at the venue winning consolation gift like Blenders, Standing Fan and Electric iron among other gift items. The draw, which attracted mammoth crowd of passersby and customers of the bank at

the Popular Benson Bus-Stop, Behind BRT Motor Park in Ikorodu, Lagos State, saw the winner who incidentally is a customer of Skye Bank at the Ikorodu main branch of the Bank, emerged through an open and transparent electronic ballot. The traditional ruler while giving sharing his personal story endorsed Skye Bank for its commitment at financial inclusion, building entrepreneurs’ and empowering SME. He recollected how Skye Bank has encouraged him to save and later gladly advanced him overdraft facility from which he went on to record success and sustainable profit “and I have since remained a customer of the Bank till date, vouching for the integrity and responsiveness of staff and management

of the and Bank while urging his subject and Nigerians to continue to patronize Skye which he described as a ‘truly Nigerian brand” The new Skye Bank Plc., one of the fastest growing retail banks in Nigeria is using the ‘Reach for the Skye Millionaire’ promo to reward customers for their loyalty. Season I of the Reward Scheme produced over 37 millionaires, 48 customers won N250, 000 and over a 120 customers went home with N100, 000 each. Plus other household consolation prizes. According the Bank’s Group Head, Retail, Mr. Ndubuisi Osakwe, “to participate in the draw, all you need as a customer or prospects, is to open any Skye savings account and make a minimum deposit of ten

thousand naira. If you already have a Skye savings account, with additional deposit amounting up to N10, 000 minimum, you stand a chance of becoming our next millionaire”. He added that: “The more additional ten thousand naira you have in your account, the more your chances to be one of the customers to be rewarded with one million naira and lots of consolation prizes. Other available cash prizes, according to Osakwe “are N100, 000 for 10 customers and N50, 000 to another 10 customers while 20 loyal customers will win N20, 000 every month.” He reiterated that new accounts opened at the draw venue stand a chance of winning our instant gifts on the spot!”

L-R: Partner, Audit Services, KPMG, Mr Kabir Okunlola; Member, Nigeria Shareholders’ Solidarity Association, (NSSA), Mr Akanji Kashimawo;President, NSSA, Chief Timothy A Adesiyan; and Partner/ Head, Audit Services, KPMG, Mr Tola Adeyemi, at the KPMG Shareholders Audit Committee Seminar for held in Lagos ... recently ETOP UKUTT

Wakanow Set to Launch Commercial Operation in UK One of Nigeria’s online travel companies, Wakanow has announced plans to formally launch commercial operations in the UK as part of its efforts for global expansion and in a bid to consolidate its foray into Europe. The announcement is coming barely months after it launched DestinationsAfrica, a global booking platform that aggregates the best of African packaged holidays from over 23 African countries. Wakanow, which already operates commercial offices in Nigeria and Ghana as well as service outlets in Dubai and the UK said it will launch its office in the UK, showcasing a cutting-edge booking portal that will offer flights and hotel bookings and Transfers/Protocol services, for intra-Europe travel as well as for outbound travel into Africa. The company said the UK booking portal will ride on the crest of its well-tested innovative technologies and

service excellence to extend the traditional African warm welcome to millions of travelers looking for efficient and wellpriced travel packages into and around Africa and Europe. Founder and Group Managing Director of Wakanow, Mr. Obinna Ekezie, said the new addition to the fast-growing travel brand would allow the company to serve the European markets and demonstrate its capacity to compete favorably on the global stage. He explained that currently, a good number of bookings on the Wakanow Nigeria booking portal, were coming from the UK and other countries outside of Nigeria and it was therefore a natural progression for Wakanow to cater for this market. In his words, “We are very delighted about the forthcoming launch of Wakanow UK, and this excitement stems from our conviction that this addition has the capacity to offer something different to the European market when it comes to travelling into Africa. Our protocol services into Africa is built on very strong

relationships and will ensure our prospective customers get the most hitch-free and hassle-free movement in and out of the continent. Wakanow has horned her skills in African travel over the last 8 years and will bring that to bear in not only offering best priced deals but making sure that her interactions with these travelers will deliver a more positive narrative for African businesses.” He further stated that, “Not only are we going to replicate the same excellent customer service for which the Wakanow brand is known for, but we are also going to take the lead in expanding the frontiers of travel and driving significant traffic to Africa through our broad mix of custom-fit and themed vacation offerings available on our DestinationsAfrica platform. We will leverage our vast knowledge of the African space and her wealth of untapped destinations to create exclusive travel products that offer fresh and incredible experiences for our customers.” He added, “The Wakanow UK launch will herald the opening

Eromosele Abiodun Start-ups in Nigeria and other African countries who have no access to the needed capital investment now have respite as an investment company, Greentree Limited has created a platform that connects African investors with promising African businesses. In a statement, Greentree’s Board Chairman, Olabode Agusto, who’s also founding Managing Director of Agusto & Co. said the company attracts discerning, successful investors who are passionate about the next generation of entrepreneurs in Africa. He said: “About 25 years ago, when I left PricewaterhouseCoopers as a partner to set up a brand new company with no track record, people thought I was crazy. Today, that company is the strongest credit rating agency in Nigeria. “There are many investors out there. The challenge is finding investment-ready startups. That’s why Greentree gives start-ups access to its team of finance, marketing, and legal professionals through its Start-up Lab, running due diligence and vetting them to get them investor-ready. “Despite the hype about African start-ups, more than 60 per cent of their funding comes from founder’s own pocket or from family and friends, studies show. Where can great entrepreneurs go when they are neither rich

nor connected?” Founder/CEO of Paystack, one of Greentree’s portfolio companies, Shola Akinlade said: “When you are starting your company, your team is small, you are fighting so many battles and you need investors that can help you fight some of these battles. I think Greentree is one of those investors, they can pick a battle, fight it and win it for you.” Greentree’s managing director, Abis Soetan said company’s Start-up Lab takes teams of two or more, through a programme of support and market validation with the goal to create investorready business ventures by Demo Day. He added, “The value of our Start-up Lab is that it offers entrepreneurs the tools and support they need to grow a sustainable business - quickly” Most acceleration programs run between three to six months, however over a short period of time Greentree will provide start-ups with critical support in the areas they need it most. “Start-ups will receive direction on governance structure, marketing and simple financial planning. The team will offer legal advice and technical support as well as provide opportunities for networking. Participating startups will have access to unlimited funding via Greentree’s network of business angels, venture capitalists and professional investors.”

NOSAK Group Introduces Famili Pure Vegetable Oil

STRATEGISING FOR PROPER AUDITING

Eromosele Abiodun

Greentree Provides Investment Platform for African Start-ups

of several other Wakanow offices across Africa, with Wakanow Kenya and Wakanow SouthAfrica already under way. Riding on the back of advanced technology, Wakanow will “switch on” her online booking portals in 6 other African countries including Uganda, Rwanda, Senegal, Ivory Coast and Tanzania. Other countries include Dubai and the US. Wakanow is a rising star on the African Tourism scene and Nigeria’s number one travel booking company. “Wakanow has won many awards including the TonyElumelu’s fastest rising company awards, a host of Industry led Awards and more recently, the CNBC Business Leader of the Year award which went to the Founder and Managing Director, Mr. Obinna Ekezie. Wakanow has strong affiliations with hundreds of Hotels and Airlines globally and has facilitated over 800,000 travel bookings since inception in 2008. Leveraging heavily on technology and accelerated customer service models, Wakanow is rapidly changing the face of travel in Africa.”

Sunday Okobi and Ugo Aliogo Nosak Group has introduced a new brand of vegetable oil known as Famili Pure Vegetable Oil as part of its commitment to meeting the needs of its consumers. Speaking at an event, which coincided with the 2017 management retreat, the Managing Director of Nosak Farm Produce, Mr. Robert Ogiri, stated that although there is stiff competition in the vegetable oil market in Nigeria, the new product is poised to be a leader due to the premium nature of the product. “It is cholesterol-free, triple filtered and has zero trans-fat. The product which is yet to be officially launched has been welcomed by all strata of the economic group both high and low class and it presently comes in 25 litres and five litres size with a plan to introduce a transparent pet bottle size in the near future,” he noted. Also speaking at the retreat,Chairman of Nosak Group, Dr. Toni Ogunbor, reiterated that hard work and commitment are essential values, which have taken the company to a higher level, adding that all members of staff need to be focused in the year 2017 in order for the company to achieve its set objectives for the year. Reacting to the current economic recession, he stated

that the difficulties the country is facing is not something that happened suddenly. According to him, all that the world economic recession that occurred about 10 years ago is still having a negative effect on many economies and Nigeria is not an exception. “The 2009 banking sector reforms carried out by the former Central Bank Governor, Mallam Sanusi Lamido Sanusi (now Emir of Kano) was aimed at strengthening the banking industry in Nigeria but in the end a lot of banks were found not to be viable and some were ultimately taken over by stronger banks and AMCON,” he added. Ogunbor expressed hope on the future growth of the group, noting that they have built structures to ‘weather the storm’ and assured that despite over 80 per cent of businesses lost out during the world recession but the group survived as a result of judicious management of its resources and the diversification of its business interests. He also said that many banks were willing to support the Group at that time but some of them underestimated their own problems and the group had to look inwards for survival, “an indication of this is the distilleries daily ethanol production capacity of over 500,000 litres per day at its Amuwo Odofin facility in Lagos, which will be increased in the next few years.”

T H I S D AY Ëž MONDAY, FEBRUARY 20, 2017

BUSINESSWORLD

PERSPECTIVE

Is CBN Unlawfully Distorting the Forex Market? Nduka Ikeyi appraises the CBNâ&#x20AC;&#x2122;s foreign exchange policy and its effect on the forex market and the economy as a whole The Central Bank of Nigeria (CBN) has been consistently criticised for the manner in which it has managed Nigeriaâ&#x20AC;&#x2122;s foreign exchange (forex) market. One of the complaints is the directive by the CBN to commercial banks to allocate 60% of their forex sales to the manufacturing sector and at the rate advised by the CBN. The second major complaint is that the CBN has refused to allow a complete float of the exchange rate, by dictating to the banks (and bureau de change (BDC) operators) the rates at which they may deal. By these actions, the CBN has been accused of causing distortions in the forex market, and these distortions have either further caused, or have manifested in, the reduced supply of forex to the â&#x20AC;&#x153;officialâ&#x20AC;? market, the existence of multiple exchange rates, and the wide gap between the â&#x20AC;&#x153;officialâ&#x20AC;? exchange rates and prevailing exchange rates in the â&#x20AC;&#x153;parallel marketâ&#x20AC;? and â&#x20AC;&#x153;black marketâ&#x20AC;?. I will however quickly add that whilst I understand the concept of a â&#x20AC;&#x153;black marketâ&#x20AC;? in which illegal forex transactions are executed, I think that the concept of a â&#x20AC;&#x153;parallel marketâ&#x20AC;? is a euphemism adopted in an attempt to legitimise illegal forex transactions conducted by entities that purport to have the licence to carry on such transactions. As far as the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act (Foreign Exchange Act or the Act) has enacted, there is only one lawful market for the conduct of

EmeďŹ ele forex business in Nigeria, namely the authorised foreign exchange market (Afem); and in which transactions are to be conducted in accordance with the provisions of the Act (see s. 1(1) of the Act). The Act also warns that nothing therein shall be construed as permitting any unrestrained or general dealing in forex on terms inconsistent with its provisions (see s. 11(a)). Section 7 of the Act further enacts the parties that may conduct transactions in that market. Also, the fact that transactions as between different participants in the Afem may be conducted at different rates does not mean the existence of more than one lawful market for the conduct of forex transactions in Nigeria. Indeed, Section 9 of the Foreign Exchange Act, by permitting parties to a forex transaction to freely determine the rate of exchange for their specific transactions, suggests

(clearly in theory) the possibility of a multiplicity of rates in the market. And this takes me back to the two complaints against the CBN. If, as indeed is unarguable, Section 9 of the Act permits parties to an exchange transaction to determine the rates at which they would execute their transactions, then the CBN is entitled to determine the rates at which it would sell the forex that it brings into the market (The CBN also has power under the CBN Act to sell and purchase forex; and it may be that this power exists independently of its right to participate in the Afem under the Foreign Exchange Act.). And given that the CBN is an agency of the government, the independence of the CBN does not preclude it from acting in a manner that would promote the economic policies of the government, including promoting any sector of the economy by preferential forex allocation. This is more so in a context in which there is an acute shortage of forex, and other local exigencies exist, for which it may be argued that the undirected hands of the market (market forces) cannot be trusted to allocate this scarce resource appropriately. However, the CBN should not extend this directive to cover forex that it has not brought into the market. I therefore do not think that the CBN has acted unlawfully by allocating 60% of the forex that it brings into the market to the manufacturing sector and fixing the price at which the forex should be

sold. Questions may however arise as to how the 60% is allocated amongst eligible manufacturers: but this concern, though legitimate, is not the thrust of the complaint that I have heard consistently. On the other hand, if we could defend CBNâ&#x20AC;&#x2122;s action in fixing the rates at which it may sell the forex it brings into the Afem by reference to s.9 of the Foreign Exchange Act, then the CBN would be acting in violation of the law by going further to fix (in any manner whatsoever, including moral suasion) the rates at which authorised dealers deal with their customers in regard to forex that is supplied to the Afem by other sources permitted by the Act, not being the CBN (see s.4 of the Act). For the avoidance of doubt, s. 9 of the Act provides that â&#x20AC;&#x153;[t]he rate at which each transaction in the Market shall be executed shall be the rate mutually agreed between the applicant purchaser and the Authorised Dealer or Authorised Buyer concernedâ&#x20AC;?. I had in an earlier article â&#x20AC;&#x153;The Foreign Exchange Act and the â&#x20AC;&#x153;devaluationâ&#x20AC;? debate: Are we suffering the effect of official breach of existing law?â&#x20AC;? (published in BusinessDay and THISDAY newspapers of 12 May 2016) argued that the debate around whether to devalue the Naira or not may be redundant if the CBN respected and allowed s. 9 of the Act to apply; and that the CBN was acting in breach of the law by fixing the rates at which transactions in the Afem not related

WAIPEC

to funds brought into the market by the CBN were executed. And we had thought that in its subsequent policy change, which occurred in June that year, the CBN had abandoned the path of unlawfulness. As a government committed to the rule of law, the Honourable Attorney General of the Federation would do well to advise the CBN to desist from this breach of the Foreign Exchange Act, which is also causing distortions in the Afem. If this is done, foreign investors and other lawful forex earners would bring in their forex through the banks as provided by the Act and exchange it for the Naira at rates agreed with the banks. What this means also is that at the time of repatriation of capital or earning on the investment, the foreign investor will also go the bank and they will agree a mutually acceptable rate: and in this case, the foreign investor cannot be heard to say that the CBN has not provided enough forex to enable it to repatriate its capital or earning, because the CBN did not intervene in any way at the time it brought in the investment into Nigeria. This would also mean fewer headaches for the CBN. But it also does not mean that the CBN may not provide additional forex liquidity to the Afem subject to availability and as may be appropriate from time to time. Ikeyi, a former Attorney General and Commissioner for Justice in Enugu State, is a partner in Ikeyi & Arifayan law ďŹ rm in Lagos.

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Fitch Affirms Three UBA Subsidiariesâ&#x20AC;&#x2122; Ratings at â&#x20AC;&#x2DC;B-â&#x20AC;&#x2122; Obinna Chima Fitch Ratings has affirmed the long-term Issuer Default Ratings (IDR) of United Bank for Africa (UBA) Cameroon, UBA Senegal and UBA Ghana at â&#x20AC;&#x2DC;B-â&#x20AC;&#x2122;. The outlooks for the financial institutions were also said to be stable. The three banks are subsidiaries of Nigeriaâ&#x20AC;&#x2122;s UBA. UBA controls 100 per cent of UBA CAM, 86 per cent of UBA SEN and 91 per cent of UBA Ghana. According to a statement by Fitch at the weekend, the long-term IDRs of UBA CAM, UBA SEN and UBA Ghana were driven by their standalone financial strength, as defined by their â&#x20AC;&#x2DC;b-â&#x20AC;&#x2122; Viability Ratings (VR), and were also underpinned by Fitchâ&#x20AC;&#x2122;s view of potential support from UBA. â&#x20AC;&#x153;The VRs of the three subsidiaries are constrained by the

weak environments in which they operate. The economies of the three countries are fairly underdeveloped, banking sectors operate with large single-name concentrations and limited capital buffers, in our view, and the prudential regulations for banks, though improving, fall short of international best practice guidelines. â&#x20AC;&#x153;Fitch rates Cameroon â&#x20AC;&#x2DC;Bâ&#x20AC;&#x2122;/ Stable and Ghana â&#x20AC;&#x2DC;Bâ&#x20AC;&#x2122;/Negative. The VRs also consider the banksâ&#x20AC;&#x2122; limited franchises. None of the banks are systemically important in their domestic markets. Singlename concentrations in both loans and deposits are very high across the three banks, exposing them to considerable event risks. â&#x20AC;&#x153;Currently, the banksâ&#x20AC;&#x2122; top 20 exposures represent 70 per cent or higher of total exposures and sector concentrations can also be high. Oil-related loans

represent 30 per cent of UBA Camerounâ&#x20AC;&#x2122;s loan portfolio, for example,â&#x20AC;? it added. The report showed that performance indicators were strong at the banks, particularly in UBA Ghana, adding that they have liquid balance sheets. Fitch explained: â&#x20AC;&#x153;This is credit-positive because it provides some protection against the considerable liquidity risks arising from notable asset and liability maturity gaps. The banksâ&#x20AC;&#x2122; ability to build up capital internally is positive because this will support the parentâ&#x20AC;&#x2122;s ambitious growth plans for its subsidiaries. â&#x20AC;&#x153;Reported impaired loans represent below four per cent of gross loans across the banks, and impaired loan ratios are far better than the averages reported by their domestic peers (14% in Cameroon, 16% in Senegal and 19% Ghana).

Citibank Fosters Transparency, Accountability in Governance Nume Ekeghe Citibank, a multinational bank with its footprint in over 160 countries worldwide has announced that its Citi Tech for Integrity Challenge (T4I) is aimed at promoting transparency, accountability, fight corruption amongst other through the use and adopt action of technology solutions. The Chief Executive Officer Citi Bank Nigeria, Mr. Akin Dawodu, who spoke during the unveiling of the initiative in Lagos, said it was in line with the anti-corruption fight

in Nigeria and across the world. Dawodu said: â&#x20AC;&#x153;This is a landmark global accelerator to invite an encourage innovators from around the world to submit solutions to prompt the public sector to promote transparency and fight corruption. â&#x20AC;&#x153;This initiative is led by Citibank in collaboration with public and private sector allies and would provide public sector entities with access to tech innovators and innovations as well as cutting edge ideas and solutions to increase transparency. â&#x20AC;&#x153;We are focusing on government and transaction

procurement, culture, ethics and management, information security and identity, crisis management and aid, cutting the red tape, analytics reporting and transparency, financial crimes and illicit activities and due process.â&#x20AC;? He explained that the goal was to reward the recipients to accelerate their solution to the market, adding that none of the solutions would be proprietary to Citibank. â&#x20AC;&#x153;We hope to bring financial responsibly digital solutions to the public sector that would support more stable economies, â&#x20AC;&#x153; Dawodu added.

Wigwe, Terraz Appointed Co-chairs of NiBUCAA Peter Uzoho The Managing Director/ Chief Executive Officer (CEO), Access Bank Plc, Mr. Herbert Wigwe has been appointed as the new co-chair of the Nigerian Business Coalition Against AIDS (NiBUCAA). Also appointed was the CEO of Total E& P Limited, Mr. Nicolas Terraz. In his acceptance speech, Wigwe expressed appreciation to the organisation for honouring him with the appointment and promised to give unwavering com-

mitment to the cause of the organisation. â&#x20AC;&#x153;Iâ&#x20AC;&#x2122;m extremely honoured to be appointed as Co-Chair for this great coalition that is doing very important thing to try and ensure that we have a generation free of HIV/ AIDS. My commitment to this endeavour from now is unwavering and I can let you know that I will continue to support NiBUCAA anyway I can just to make sure that at the end of the day we push HIV/AIDS out of Africa,â&#x20AC;? Wigwe said. He added: â&#x20AC;&#x153;Access Bank has

for several years partnered with NiBUCAA in respect to lifting up the overall line of awareness about HIV/AIDS. So weâ&#x20AC;&#x2122;re extremely proud to be seen at the forefront of African corporates as an institution that is championing the fight against HIV/AIDS. â&#x20AC;&#x153;I think my responsibility going forward is to partner and work alongside Nicolas Terraz to ignite Nigerian corporates and lift up the level of awareness required to ensure that we basically drive HIV/AIDS not just out of Nigerian but out of the entire continent.

LASG Partners ARM to Train One Million Lagosians on Computer Coding Eromosele Abiodun In a bid to ensure that its CodeLagos project becomes a success, the Lagos State Government has announced that it will partner ARM Limited, a leading financial services provider, to create 500 coding centres in public and private schools across the state. CodeLagos is an initiative of the state government targeted at equipping some one million Lagosians with computer programming/digital skills aimed at making the state the technology frontier in Africa. The programme is to be launched in April this year

with about 300 of which ARM providing and equipping 15 of the centres. In a chat with journalists to announce the initiative, the Special Adviser to the State Governor on Education, Obafela Bank-Olemoh said the target was to set up 500 centres before the end of 2017. He said modalities have been put in place for 300 centres by April in partnership with the private sector, adding that an agreement has been concluded with ARM, one of the private sector players, for the programme. Bank-Olemoh said: â&#x20AC;&#x153;ARM will be setting up 15 centres and these centres will be established in

low income schools in line with Governor Akinwumi Ambodeâ&#x20AC;&#x2122;s commitment to promoting inclusive governance and qualitative education for all citizens. Chief Executive Officer of ARM Limited, Jumoke Ogundare, said her organisation was excited about the partnership with the state on the CodeLagos initiative, adding the project was in line with the commitment of the firm towards improving access to quality education for all. Ogundare said over the years, ARM had demonstrated in clear terms its commitment to corporate social responsibility (CSR) and given its track record.

Chairman of UBA, Mr. Tony Elumelu

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

OCTOBER 2016 Broad Money (M2)

22,275,512.54

-- Narrow Money (M1)

10,023,616.69

---- Currency Outside Banks

1,521,797.77

---- Demand Deposits

8,501,818.92

-- Quasi Money

12,251,895.85

Net Foreign Assets (NFA)

7,612,243.68

Net Domestic Assets(NDA)

14,654,268.86

-- Net Domestic Credit (NDC)

26,774,684.47

---- Credit to Government (Net)

3,705,049.41

---- Memo: Credit to Govt. (Net) less FMA

6,242,932.95

---- Memo: Fed. and Mirror Accounts (FMA)

-2,537,883.55

---- Credit to Private Sector (CPS)

23,069,635.07

--Other Assets Net

-12,120,415.62

Reserve Money (Base Money)

6,580,594.55

--Currency in Circulation

1,825,664.51

--Banks Reserves

4,415,126.62 Ëž Ă&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

MANAGED FUNDS Month

December 2016

Inter-Bank Call Rate

10.39

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

13.96

Savings Deposit Rate

4.18

1 Month Deposit Rate

8.53

3 Months Deposit Rate

8.80

6 Months Deposit Rate

10.23

12 Months Deposit Rate

10.76

Prime Lending rate

17.09

Maximum Lending Rate

28.55 Ëž Ă&#x2122;Ă&#x2DC;Ă?Ă&#x17E;Ă&#x2039;Ă&#x153;ĂŁ Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă?ĂŁ Ă&#x2039;Ă&#x17E;Ă? Ě&#x2039; ÍŻÍąĎą

OPEC DAILY BASKET PRICE AS AT 16 FEBRUARY 2017 The price of OPEC basket of thirteen crudes stood at $53.14 a barrel on Thursday, compared with $53.10 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

MONDAY, FEBRUARY 20, 2017 ˾ T H I S D AY

MARKET NEWS

UPDC Sends Profit Warning, Expects Lower Earnings Goddy Egene and Nosa Alekhuogie UACN Property Development Company Plc has sent a profit warning to the Nigerian Stock Exchange (NSE), saying it will record lower earnings for the financial year ended December 31, 2016. The company had recorded profit before tax of N132.9 mil-

lion for the nine months ended September 30, 2016, compared to a loss of N109.7 million in the corresponding period of 2015. However, while shareholders are expecting the company to consolidate on the nine months recovery, UPDC said it would post lower earnings for 2016 full year. In a filing at the NSE, UPDC said the lower earnings were

T H E MAIN BOARD Activity Summary on Board DEBT Federal Bond Name 15.54% FGN FEB 2020 16.00% FGN JUN 2019 Federal Totals DEBT Board Totals Bond Activity Totals Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. JOHN HOLT PLC. S C O A NIG. PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Building Construction ARBICO PLC. Building Construction Totals Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC Automobiles/Auto Parts Totals Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. JAIZ BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CORNERSTONE INSURANCE COMPANY PLC. AXAMANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. STANDARD TRUST ASSURANCE PLC STANDARD ALLIANCE INSURANCE PLC. UNITY KAPITAL ASSURANCE PLC UNIVERSAL INSURANCE COMPANY PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks FORTIS MICROFINANCE BANK PLC NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Mortgage Carriers, Brokers and Services INFINITY TRUST MORTGAGE BANK PLC Mortgage Carriers, Brokers and Services Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC DEAP CAPITAL MANAGEMENT & TRUST PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC Other Financial Institutions Totals

DEALS

mainly as a result of recognition of losses on certain projects and impairment of investments in one joint venture project . It added that the results were further worsened by foreign exchange losses and negative performance of its hotel asset. UPDC said: “We have carried out a preliminary review, subject to audit, of the management accounts of our company for the

N I G E R I A N MARKET PRICE

QUANTITY TRADED

STO C K VALUE TRADED ( N )

No. of Deals 1 1 2 2 2

Current Price 98.7 135

Quantity Traded 105 100 205 205 205

Value Traded 103,815.41 137,197.80 241,013.21 241,013.21 241,013.21

No. of Deals 11 4 15 No. of Deals 5 5 20

Current Price 44.18 46

Quantity Traded 41,208 5,201 46,409 Quantity Traded 153,470 153,470 199,879

Value Traded 1,887,024.20 240,161.40 2,127,185.60 Value Traded 119,266.60 119,266.60 2,246,452.20

No. of Deals 1 1 4 56 48 110 110

Current Price 0.78 0.66 3.77 0.78 15.1

Quantity Traded 100 500 10,000 4,840,952 350,363 5,201,915 5,201,915

Value Traded 78 315 35,900.00 3,807,735.66 5,054,510.34 8,898,539.00 8,898,539.00

No. of Deals 1 1 No. of Deals 5 5 No. of Deals 65 65 71

Current Price 4.79

Quantity Traded 200 200 Quantity Traded 10,272 10,272 Quantity Traded 1,656,711 1,656,711 1,667,183

Value Traded 958 958 Value Traded 375,647.04 375,647.04 Value Traded 3,493,667.49 3,493,667.49 3,870,272.53

No. of Deals 1 1 No. of Deals 3 64 7 208 282 No. of Deals 18 18 No. of Deals 33 22 32 15 11 113 No. of Deals 25 98 123 No. of Deals 14 14 No. of Deals 26 17 43 594

Current Price 0.5

Quantity Traded 100,000 100,000 Quantity Traded 5,160 288,915 51,123 1,386,914 1,732,112 Quantity Traded 6,947 6,947 Quantity Traded 616,050 345,909 84,482 1,028,600 117,500 2,192,541 Quantity Traded 136,880 133,592 270,472 Quantity Traded 140,811 140,811 Quantity Traded 203,505 43,451 246,956 4,689,839

Value Traded 50,000.00 50,000.00 Value Traded 11,558.40 17,613,098.61 801,955.76 156,078,414.27 174,505,027.04 Value Traded 675,390.11 675,390.11 Value Traded 2,410,595.00 2,125,832.90 1,491,827.07 1,128,310.00 833,010.00 7,989,574.97 Value Traded 1,172,206.13 79,110,103.35 80,282,309.48 Value Traded 289,850.97 289,850.97 Value Traded 2,596,373.80 1,424,799.57 4,021,173.37 267,813,325.94

Quantity Traded 11,476,994 1,149,393 58,189 8,142,068 20,039,315 1,081,695 25,994,229 5,772,233 251,225 350 800 73,966,491 Quantity Traded 214,682 503,100 200 3,000 44,144 900 5,100 1,000 401,000 1,000 384 1,174,510 Quantity Traded 1,000 25,100 26,100 Quantity Traded 1,000 1,000 Quantity Traded 450,576 325,400 1,000 3,530,043 12,830 8,474,959 12,794,808

Value Traded 76,018,367.81 990,711.98 560,377.50 6,806,919.19 477,105,071.95 1,417,729.20 18,222,090.30 27,705,413.04 1,185,050.41 276.5 408 610,012,415.88 Value Traded 126,611.20 530,295.00 100 4,770.00 36,196.64 450 2,550.00 500 200,500.00 500 192 902,664.84 Value Traded 2,700.00 27,111.00 29,811.00 Value Traded 1,440.00 1,440.00 Value Traded 1,399,304.19 1,084,759.00 500 4,689,332.14 211,696.60 31,174,405.94 38,559,997.87

No. of Deals 167 26 27 69 219 24 1,530 73 33 1 1 2,170 No. of Deals 9 6 2 2 5 1 2 1 2 1 2 33 No. of Deals 1 2 3 No. of Deals 1 1 No. of Deals 31 16 1 68 6 132 254

Current Price 0.78

Current Price 34.83 Current Price 2.12

Current Price 2.35 60.92 16.15 117.5 Current Price 106.5 Current Price 4.1 6.1 18 1.1 7.03 Current Price 9 600 Current Price 2.08 Current Price 12.16 34

Current Price 6.6 0.86 9.8 0.84 23.8 1.31 0.7 4.8 4.9 0.83 0.5 Current Price 0.59 1.05 0.5 1.59 0.79 0.5 0.5 0.5 0.5 0.5 0.5 Current Price 2.58 1.08 Current Price 1.47 Current Price 3.05 3.32 0.5 1.31 17 3.7

year ended December 31, 2016 and expect to report materially lower earnings. This is mainly as a result of the recognition of losses on certain projects and impairment of investments in one joint venture project occasioned by significant increase in finance costs. The results were further worsened by foreign exchange losses and negative performance of our hotel asset.”

E XC H A N G E

The company assured stakeholders that despite the continued lull in the real estate sector occasioned by the headwinds of the macro-economic environment, the fundamentals of the business remain strong. Besides, the company said it is restructuring and repositioning its operations to better deal with the challenges of the times and explore emerging opportunities.

UPDC recently applied to raise additional funds through a rights issue of 1.719 billion ordinary shares of 50 kobo each at N3.00 per share on the basis of one new share for every one share already held. The Chairman of UPDC, Mr. Larry Ettah had last year disclosed plans by the company to raise fresh capital to boost its operations.

1 5 / 0 2 / 2 0 1 7

MAIN BOARD FINANCIAL SERVICES Totals HEALTHCARE Healthcare Providers UNION DIAGNOSTIC & CLINICAL SERVICES PLC Healthcare Providers Totals Pharmaceuticals FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC PHARMA-DEKO PLC. Pharmaceuticals Totals HEALTHCARE Totals ICT IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals Processing Systems CHAMS PLC Processing Systems Totals ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC MEYER PLC. LAFARGE AFRICA PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers BETA GLASS PLC. GREIF NIGERIA PLC Packaging/Containers Totals INDUSTRIAL GOODS Totals NATURAL RESOURCES Metals ALUMINIUM EXTRUSION IND. PLC. Metals Totals NATURAL RESOURCES Totals OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. MRS OIL NIGERIA PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals OIL AND GAS Totals SERVICES Advertising AFROMEDIA PLC Advertising Totals Courier/Freight/Delivery RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals Hotels/Lodging TOURIST COMPANY OF NIGERIA PLC. TRANSCORP HOTELS PLC Hotels/Lodging Totals Printing/Publishing LEARN AFRICA PLC STUDIO PRESS (NIG) PLC. Printing/Publishing Totals Transport-Related Services NEWREST ASL NIGERIA PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC C & I LEASING PLC. Support and Logistics Totals SERVICES Totals EQTY Board Totals Daily Summary (Equities) Activity Summary on Board ASeM FINANCIAL SERVICES Mortgage Carriers, Brokers and Services OMOLUABI MORTGAGE BANK PLC Mortgage Carriers, Brokers and Services Totals FINANCIAL SERVICES Totals ASeM Board Totals Daily Summary (Equities) Activity Summary on Board PREMIUM FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking Totals Other Financial Institutions FBN HOLDINGS PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC Building Materials Totals INDUSTRIAL GOODS Totals PREMIUM Board Totals Equity Activity Totals

DEALS

MARKET PRICE

2,461 No. of Deals 1 1 No. of Deals 13 12 4 6 2 37 38

Current Price 0.5 Current Price 1.01 14.75 1 0.66 1.95

No. of Deals 1 1 No. of Deals 1 1 2

Current Price 1.3

No. of Deals 7 2 7 11 1 20 48 No. of Deals 15 15 No. of Deals 3 1 4 67

Current Price 11.25 6.08 29.6 4.28 0.87 42

Current Price 0.5

Current Price 1.45 Current Price 36.45 9.69

QUANTITY TRADED

VALUE TRADED ( N)

87,962,909

649,506,329.59

Quantity Traded 738,000 738,000 Quantity Traded 5,177,490 110,135 5,015 11,000 900 5,304,540 6,042,540

Value Traded 369,000.00 369,000.00 Value Traded 5,178,570.00 1,551,318.88 4,770.10 7,063.20 1,836.00 6,743,558.18 7,112,558.18

Quantity Traded 2,438 2,438 Quantity Traded 100,000 100,000 102,438

Value Traded 3,023.12 3,023.12 Value Traded 50,000.00 50,000.00 53,023.12

Quantity Traded 11,405 2,997 1,215,127 141,429 300 23,390 1,394,648 Quantity Traded 792,168 792,168 Quantity Traded 70,030 100 70,130 2,256,946

Value Traded 130,100.00 17,322.66 35,970,022.30 604,431.24 249 987,177.40 37,709,302.60 Value Traded 1,142,840.30 1,142,840.30 Value Traded 2,552,593.50 1,016.00 2,553,609.50 41,405,752.40

No. of Deals 1 1 1

Current Price 9.75

Quantity Traded 2,000 2,000 2,000

Value Traded 18,540.00 18,540.00 18,540.00

No. of Deals 2 2 No. of Deals 76 76 No. of Deals 16 20 229 20 1 16 302 No. of Deals 2 2 382

Current Price 0.5

Quantity Traded 18,000 18,000 Quantity Traded 1,722,434 1,722,434 Quantity Traded 35,100 284,436 905,220 12,017 100 8,826 1,245,699 Quantity Traded 5,150 5,150 2,991,283

Value Traded 9,000.00 9,000.00 Value Traded 8,234,046.51 8,234,046.51 Value Traded 1,190,988.64 886,497.72 56,399,639.77 3,215,511.70 3,708.00 2,400,901.12 64,097,246.95 Value Traded 2,045,501.50 2,045,501.50 74,385,794.96

Quantity Traded 55,000 55,000 Quantity Traded 575 29,090 29,665 Quantity Traded 1,000 13,000 14,000 Quantity Traded 500 1,000 1,500 Quantity Traded 101,050 46,801 147,851 Quantity Traded 274,973 1,000 275,973 523,989 111,640,921

Value Traded 27,500.00 27,500.00 Value Traded 2,645.75 26,607.80 29,253.55 Value Traded 3,550.00 61,623.60 65,173.60 Value Traded 355 2,190.00 2,545.00 Value Traded 275,866.50 114,662.45 390,528.95 Value Traded 242,233.86 500 242,733.86 757,734.96 1,056,068,322.88

No. of Deals 1 1 No. of Deals 2 3 5 No. of Deals 1 3 4 No. of Deals 1 1 2 No. of Deals 7 6 13 No. of Deals 14 1 15 40 3,786

Current Price 4.71 Current Price 35.49 3.24 62.5 275.99 39.03 270 Current Price 380

Current Price 0.5 Current Price 4.4 0.91 Current Price 3.65 4.98 Current Price 0.68 2.19 Current Price 2.73 2.57 Current Price 0.9 0.5

No. of Deals 1 1 1 1

Current Price 0.9

Quantity Traded 100,000 100,000 100,000 100,000

Value Traded 90,000.00 90,000.00 90,000.00 90,000.00

No. of Deals 279 279 No. of Deals 140 140 419

Current Price 15.01

Quantity Traded 48,467,690 48,467,690 Quantity Traded 1,684,690 1,684,690 50,152,380

Value Traded 727,624,234.12 727,624,234.12 Value Traded 5,345,599.68 5,345,599.68 732,969,833.80

No. of Deals 10 10 10 429 4,216

Current Price 169

Quantity Traded 45,766 45,766 45,766 50,198,146 161,939,067

Value Traded 7,736,239.30 7,736,239.30 7,736,239.30 740,706,073.10 1,796,864,395.98

Current Price 3.2

˾ MONDAY, FEBRUARY 20, 2017

MARKET NEWS

Medview Airline Eyes Capital Injection, Expand to Francophone Countries Goddy Egene Having succeeded in establishing its operations in the Anglophone countries, Medview Airline Plc is set to expand its services to Francophone countries in the West African coast. The Managing Director of Medview Airline Plc, Alhaji Muneer Bankole, who disclosed this while speaking in Lagos, also added that the company, which got listed on the Nigerian Stock Exchange (NSE) January 31, 2017, will soon hit the market with a

public offering to attract more funds. He said also, said the airline would expand its operations to Dakar (Senegal), Conakry (Guinea) and Abidjan (Cote D’Ivoire) in the next two months, noting that the airline has already commenced Lome (Togo) route. He said: “We are in the market not to do anything extraordinary but to let all Nigerians know that there is something to grow together. This is a private entity that starts from zero. The durable, profitable and safest business you

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 ‘shares’ on the

can do is transport. According to him, prospects are very bright for the company because travelling by air is the most convenient for now and there is high demand for air travel. “To carry cargo from Lagos to Abuja is 45 minutes; London is six hours even by ship you will be there for three months. Air travel is the only best way you can move people and communicate to the next neigbhour,” he said. Bankole said that the aim of the airline was to connect all the West African states before

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 16-Feb-2017, unless otherwise stated.

expanding its tentacles to Europe and America. According to him, the airline will also commence Lagos-Dubai route in April, which has been in pipeline for over two years while the Baltimore, Washington DC in United States will also commence soon. “We are increasing our financial capacity in the area of growth. We are discussing with partners to acquire more aircrafts that we bring back home to be able to increase our capacity because we still have in our plans

in the future apart from Dubai, we are doing Johannesburg and United States. Before now, we have to go to Benin Republic to travel to USA. You can see the suffering, before the end of the year, we will start airlifting passengers to US,” he said. He declared that aim of the Medview Airline is to improve performance on domestic and regional routes and stablilise international operations, including enhancing the services of passengers going to either Saudi Arabia or Jerusalem.

He said: “We are airline that is designated by the Federal Government of Nigeria in Saudi Arabia and Israel. Be an international airline, is making everybody in Diaspora seeing us and become patriotic, seeing an airline coming from their country and people speaking their own languages. Even mere seeing people coming down during the Hajj, they go and interact with them. It’s not easy but we thank God. We are focus and ready to sell the company in a corporate world.”

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 / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 126.08 126.32 -0.83% Nigeria International Debt Fund 216.75 217.11 0.62% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.69 0.70 -1.63% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 17.73% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 11.96 12.32 -3.11% ARM Discovery Fund 282.58 291.10 -1.60% ARM Ethical Fund 21.81 22.46 -2.39% ARM Money Market Fund 1.00 1.00 17.43% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 106.67 107.42 1.51% AXA Mansard Money Market Fund 1.00 1.00 16.82% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Nigeria Global Investment Fund 2.18 2.23 0.23% Paramount Equity Fund 9.46 9.70 1.05% Women's Investment Fund 86.25 88.46 1.95% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 17.27% FBN CAPITAL ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,112.90 1,113.96 2.06% FBN Heritage Fund 108.79 109.50 -2.51% FBN Money Market Fund 100.00 100.00 15.79% FBN Nigeria Eurobond (USD) Fund - Institutional $105.76 $106.63 1.73% FBN Nigeria Eurobond (USD) Fund - Retail $105.50 $106.27 2.13% FBN Nigeria Smart Beta Equity Fund 111.17 112.72 -1.29% FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Equity Fund 0.93 0.95 0.00% Legacy Short Maturity (NGN) Fund 2.62 2.62 1.78% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 2,159.55 2,184.50 -2.26% Coral Income Fund 2,154.28 2,154.28 2.38% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 17.37% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 1.00 1.00 16.50% Vantage Balanced Fund 1.68 1.69 -0.22% Vantage Guaranteed Income Fund 1.00 1.00 15.41%

LOTUS CAPITAL LTD ﬁncon@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 0.99 1.01 0.33% Lotus Halal Fixed Income Fund 1,015.93 1,015.93 1.31% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 9.59 9.67 -0.77% Meristem Money Market Fund 10.00 10.00 14.70% 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 1.08 1.09% PACAM Fixed Income Fund 10.41 10.44 0.02% PACAM Money Market Fund 10.00 10.00 15.10% 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 111.00 111.72 8.93% 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 1.26 1.26 1.05% 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 1,805.51 1,815.08 -1.42% Stanbic IBTC Bond Fund 152.78 152.78 -0.77% Stanbic IBTC Ethical Fund 0.75 0.76 -1.95% Stanbic IBTC Guaranteed Investment Fund 189.34 189.34 1.31% Stanbic IBTC Iman Fund 127.16 128.77 -2.07% Stanbic IBTC Money Market Fund 100.00 100.00 17.66% Stanbic IBTC Nigerian Equity Fund 7,165.65 7,251.46 -5.49% 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 1.13 1.15 9.04% United Capital Bond Fund 1.25 1.25 16.11% United Capital Equity Fund 0.65 0.66 0.14% 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 9.56 9.73 -0.62% Zenith Ethical Fund 11.09 11.19 1.66% Zenith Income Fund 17.06 17.06 3.26%

REITS NAV Per Share

Yield / T-Rtn

11.41 124.56

1.01% 0.48%

Bid Price

Offer Price

Yield / T-Rtn

7.84 69.55

7.94 70.86

-10.65% -8.22%

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 Grifﬁn 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

2.36 4.74 11.21 14.10 138.14

2.40 4.82 11.31 14.30 140.14

-13.93% -32.39% -6.48% -11.53% 6.31%

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 manager’s website and FMAN’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.

T H I S D AY MONDAY FEBRUARY 20, 2017

MONDAY, FEBRUARY 20, 2017 ˾ T H I S D AY

CITYSTRINGS

Acting Features Editor: Charles Ajunwa Email charles.ajunwa@thisdaylive.com

Kwara Police Record Breakthroughs The Kwara State Commissioner of Police, Mr. Olusola Amore, has recorded breakthroughs in combating crimes in the state through his community policing strategy, writes Hammed Shittu

The two suspected armed robbers that killed a couple in Ilorin

pon assumption of office last year as the new Commissioner of Police in Kwara State, Mr. Olusola Amore, said that his main concern was to make life bearable for the residents of the state in the prevention and tackling of crimes and other social vices in the state. As part of strategy to achieve the above goal, Amore said that his administration would ensure that community policing thrived well in the state so as to allow people of the state irrespective of their status to be involve and participate in the fight against crimes in the state. In doing this, the state Police Commissioner ordered the Divisional Police Officers in all the 16 local government areas of the state to paste his personal telephone lines on all the notice boards of their various offices for all the residents of the state to have access to the telephone lines. The development however allowed individual residents of the state to have direct access to the telephone line of Amore and this at the end assisted the state police command to get necessary information without any hindrance. Such strategy had given the state police command and the commissioner to know various hideouts of criminals in the state

and thus helped the commissioner to have information capable of preventing and tackling crimes across the 16 local government areas.

The state Police Commissioner ordered the Divisional Police Ofﬁcers in all the 16 local government areas of the state to paste his personal telephone lines on all the notice boards of their various ofﬁces for all the residents of the state to have access to the telephone lines… The residents at times call the state police commissioner at odd hours of the night on the activities of criminals which led to arrests of criminals in the state

The residents at times call the state police commissioner at odd hours of the night on the activities of criminals which led to arrests of criminals in the state. No wonder, the state police command recently made a successful outing in the harvest of arrests of some criminals that had been terrorising the residents of the state from their various locations in the state. One of such breakthroughs was the incident of the homicide committed by some suspected armed robbers that killed a couple at their residence at Tanke area of Ilorin after they had raped the 66-year-old woman, killed her and his husband before they were dumped inside a well in their house. The incident occurred two days to the last Christmas celebration in the state. Parading the suspects that participated in the dastardly act in Ilorin recently, Amore said that, "On the 21 December, 2016 at about 1430 hrs, one Bernard family who happens to be a family member of late Micheal Akhigbe reported at Area F Division, Tanke, Ilorin, that he visited the house of the deceased to convey him to work as usual of him, only for him to discover he and his wife, one Juana Akhigbe were nowhere to be found." He said, "On the strength of the report police detectives visited the house and on close observation discovered blood stains in

the room of the deceased couple, a search in the compound led detectives to a well where the bodies of the deceased were found. "The couple bodies were later found dumped in a well within the premises. The bodies were recovered and investigation that followed led to the arrests of one Adeyemi Aderinkomi and Timothy Ajayi, mastermind of the crime. "In the course of interrogation, they confessed to the raping of the woman before killing her and her husband, carting away their properties which included one Toyota Camry car, telephone handsets, money and others. "The suspects sold some of the stolen items to buyers already arrested and to cover track, they set the Toyota Camry saloon car they took from the house ablaze. "The suspects confessed to have dumped the victims in the well to prevent detection and exhibits were recovered from the receivers while effort is still on to arrest the other suspects presently on the run." Amore however said that, the suspects would soon be arraigned in court. Also, a middle-aged man who claimed to be one of the officers of the Independent Corrupt Practices and Other Related Offences (ICPC) has been arrested by the police. The suspect according to THISDAY checks

MONDAY, FEBRUARY 20, 2017 ˾ T H I S D AY

CITYSTRINGS

Fake ICPC oﬃcer arrested in Ilorin

Suspected armed robber that snatched a Jeep from Abuja and arrested in Ilorin recently

Suspected fake federal SARS oﬃcer recruting people to the Nigerian Police Force

The couple bodies were later found dumped in a well within the premises. The bodies were recovered and investigation that followed led to the arrests of one Adeyemi Aderinkomi and Timothy Ajayi, mastermind of the crime. In the course of interrogation, they confessed to the raping of the woman before killing her and her husband

was arrested at the Queen Secondary School, Ilorin, while trying to perpetrate a shoddy deal. It was gathered that, the suspect had presented a petition written by an unknown person to the management of the school that, they the management was involve in a fraud running into several thousands of naira. Sources close to the school told journalists that upon showing the petition to the management of the school which they denied, one of the staff of the school smartly went out to inform the state Commissioner for Education and Human Capital Development, Alhaji Musa Yeketi. Sources added that, it was at this point that the commissioner informed the state police command and the suspect was subsequently rounded up at the school. Amore who said that the suspect was now at the police net in Ilorin, said the suspect has agreed to help the police on the veracity of his claim to be one of the officers of ICPC. He said that, "we have commenced investigations on the alleged move of the

Some members of syndicate specialising on issuing fake employment letetrs to innocent indiviuals in Kwara State

Kwara CP, Olusola Amore, smoking out criminals from their hideouts

suspect and as soon as the investigation is completed then the state police command

would arraign him if found culpable in the act.”

The state police command has done so well in the area of crime prevention and detection as it has busted and prosecuted six kidnap cases, 42 armed robbery cases and prosecuted eight cult related cases, 36 cultists cases prosecuted, eight rape cases while 10 homicide cases were handled by the state police command. The state police command has recovered 23 different categories of fire arms and large numbers of the ammunitions were recovered since the new state police commissioner took over the mantle of leadership of the state police command. The state police commissioner however promised the residents of the state not to relent in his efforts in ensuring that criminals are driven out of the state. He therefore called for more support of the residents of the state to continue to inform the state police command on the whereabouts of these criminals in order to arrest them as this would boost the economic development of the state.

T H I S D AY MONDAY FEBRUARY 20, 2017

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T H I S D AY MONDAY FEBRUARY 20, 2017

T H I S D AY Ëž Í°ÍŽË&#x153; Í°ÍŽÍŻÍľ

Nigeriaâ&#x20AC;&#x2122;s top 50 stocks based on market fundamentals

17-Feb-17

16-Feb-17

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

169.00

0.00%

2,879,845,751,445.00

9.20

18.36

5.07

4.73%

3.85

02 Nigerian Breweries Plc

115.00

113.02

1.75%

911,846,602,120.00

4.03

28.50

3.02

3.13%

5.56

03 Guaranty Trust Bank Plc

24.30

24.00

1.25%

715,177,655,143.20

4.90

4.96

1.78

7.28%

1.45

599.99

0.00%

475,585,824,637.48

8.81

68.09

2.75

4.83%

15.07

15.00

14.99

0.07%

470,947,406,790.00

3.91

3.84

0.99

12.00%

0.68

380.00

0.00%

210,257,918,940.00 -44.58

-8.52

2.71

4.19%

0.53

07 Access Bank Plc

6.82

6.63

2.87%

197,288,766,523.42

2.59

2.64

0.56

8.06%

0.45

08 Lafarge Africa Plc

42.00

0.00%

191,305,876,020.00

-9.39

-4.47

0.90

7.14%

0.94

09 Presco Plc

47.01

46.00

2.20%

186,652,125,885.45

0.03

1,607.74

2.62

2.77%

4.46

10 Ecobank Transnational Incorporated

9.80

0.00%

179,825,601,907.00

0.68

14.49

0.31

6.33%

0.29

11 United Bank for Africa Plc

4.85

0.00%

175,955,702,661.70

1.75

2.78

0.53

12.37%

0.41

12 Stanbic IBTCÂ Holdings Plc

16.75

16.50

1.52%

167,500,000,000.00

2.04

8.22

1.19

0.60%

1.42

13 Unilever Nigeria Plc

34.00

0.00%

128,632,072,500.00

0.69

49.12

1.94

0.15%

13.71

14 FBN Holdings Plc

3.30

3.34

-1.20%

118,454,466,213.60

0.21

15.90

0.22

4.55%

0.19

15 Mobil Oil Nig Plc

275.99

0.00%

99,520,686,359.38

19.32

14.28

1.10

2.61%

5.38

16 Total Nigeria Plc

273.01

270.11

1.07%

92,692,856,719.37

38.02

7.18

0.34

5.13%

4.07

17 Guinness Nig Plc

60.95

61.00

-0.08%

91,783,885,058.60

-3.06

-19.93

0.89

5.25%

2.33

6.19

0.00%

74,280,000,000.00

1.03

6.03

0.52

8.08%

1.19

106.50

0.00%

68,222,873,659.50

-0.05 -2,331.69

0.73

2.07%

3.07

4.72

4.75

-0.63%

56,803,401,179.68

-3.15

-1.50

0.22

15.89%

0.36

21 International Breweries Plc

16.15

0.00%

53,202,125,872.00

0.02

716.76

2.00

1.55%

4.85

22 Julius Berger Nig. Plc

38.39

36.57

4.98%

50,674,800,000.00

-2.95

-13.03

0.43

3.91%

2.67

23 Flour Mills Nig. Plc

17.98

17.95

0.17%

47,183,784,622.26

-1.19

-15.07

0.11

11.12%

0.47

24 Okomu Oil Palm Plc

44.18

0.00%

42,143,743,800.00

4.82

9.16

6.41

0.23%

2.61

0.79

0.77

2.60%

30,589,587,965.75

-0.47

-1.69

0.59

0.00%

0.42

14.35

0.00%

27,564,403,953.45

3.37

4.26

0.36

6.97%

0.36

27 FCMB Group Plc

1.30

0.00%

25,743,524,015.30

0.61

2.12

0.16

7.69%

0.14

28 Fidelity Bank Plc

0.80

0.81

-1.23%

23,170,068,553.60

0.39

2.07

0.15

20.00%

0.13

29 Sterling Bank Plc

0.74

0.73

1.37%

21,304,909,413.24

0.29

2.57

0.20

12.16%

0.26

29.60

0.00%

20,720,000,000.00

2.28

12.96

3.11

3.89%

12.11

31 Wema Bank Plc

0.50

0.00%

19,287,233,040.50

0.06

8.39

0.38

0.00%

0.41

32 Custodian And Allied Insurance Plc

3.24

3.32

-2.41%

19,057,239,991.80

0.76

4.25

0.52

4.32%

0.67

33 Diamond Bank Plc

0.82

0.85

-3.53%

18,991,518,953.76

-0.29

-2.79

0.09

0.00%

0.08

34 National Salt Co. Nig. Plc

7.03

0.00%

18,625,551,797.34

0.85

8.28

0.99

7.82%

2.52

14.75

0.00%

17,639,178,198.00

-2.98

-4.94

0.63

2.03%

2.01

36 Cadbury Nigeria Plc

9.00

0.00%

16,903,818,360.00

0.50

18.02

0.60

14.44%

1.65

37 Mansard Insurance Plc

1.50

1.52

-1.32%

15,750,000,000.00

0.28

5.38

0.79

3.33%

0.75

38 PZ Cussons Nigeria Plc

13.39

12.16

10.12%

13,390,000,000.00

5.69

2.35

0.93

0.75%

0.36

39 Continental Reinsurance Plc

1.05

0.00%

10,891,381,527.60

0.42

2.50

0.49

11.43%

0.58

40 Unity Bank Plc

0.83

0.00%

9,702,150,491.86

-0.10

-8.10

0.15

0.00%

0.12

41 Honeywell Flour Mill Plc

1.10

0.00%

8,723,217,423.80

-0.40

-2.72

0.18

14.55%

0.26

42 Skye Bank Plc

0.50

0.00%

6,940,150,705.00

-2.93

-0.17

0.04

60.00%

0.07

43 Wapic Insurance Plc

0.50

0.00%

6,691,369,126.00

0.18

2.78

0.85

6.00%

0.41

44 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

45 Cement Co. Of North.Nig. Plc

4.28

0.00%

5,378,580,838.48

0.22

19.55

0.48

2.34%

0.50

46 Nigerian Aviation Handling Company Plc

2.57

0.00%

4,174,242,187.50

0.15

17.01

0.52

7.78%

0.70

47 AIICO Insurance Plc

0.60

0.59

1.69%

4,158,122,688.00

0.22

2.69

0.14

8.33%

0.41

48 UACN Property Development Co. Limited

1.94

2.04

-4.90%

3,334,374,990.30

0.30

6.48

0.79

36.08%

0.09

49 Fidson Healthcare Plc

1.01

0.00%

1,515,000,000.00

0.24

4.29

0.23

4.95%

0.24

59.21

62.32

-4.99%

77,119,906,108.63

3.31

17.91

0.50

5.83%

1.79

04 Nestle Nigeria Plc 05 Zenith Bank Plc 06 Seplat Petroleum Dev. Co. Ltd

18 Dangote Sugar ReďŹ nery Plc 19 7-Up Bottling Comp. Plc 20 Oando Plc

25 Transnational Corporation Of Nigeria Plc 26 U A C NÂ Plc

30 Cap Plc

35 Glaxo Smithkline Consumer Nig. Plc

50 Forte Oil Plc.

TOTAL

8,118,814,324,589.55

TOTAL MARKET CAP

8,709,099,857,643.21

% OF MARKET CAP Annotation - MA* = Simple Moving Average

93.22%

Table 1 Market Statistics Mkt Indicators

NSE All Share Index NSE Market Cap (N'Trillion)

Open 16-Feb-17

Close 17-Feb-17

Change %

25,055.29 8.67

25,164.91 8.71

0.44 0.44

103.82 8.08

104.27 8.12

0.43 0.43

Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Table 3 Top 5 Gainers Stock

Open Close Change 16-Feb-17 17-Feb-17 %

PZ Cussons Nigeria Plc Julius Berger Nig. Plc Access Bank Plc Transnational Corporation Of Nigeria Plc Presco Plc

12.16 36.57 6.63 0.77

13.39 38.39 6.82 0.79

10.12 4.98 2.87 2.60

46.00

47.01

2.20

Table 4 Top 5 Losers Stock

Open Close Change 16-Feb-17 17-Feb-17 %

Forte Oil Plc. UACN Property Development Co. Limited Diamond Bank Plc Custodian And Allied Insurance Plc Mansard Insurance Plc

62.32 2.04

59.21 1.94

-4.99 -4.90

0.85 3.32 1.52

0.82 3.24 1.50

-3.53 -2.41 -1.32

Market reverses previous day loss as Index moves upward by 0.44% Market pulse on the Nigerian Stock Exchange (NSE) today â&#x20AC;&#x201C; Friday, February 17th, 2017 ended on a positive note as the stock market closed green. This was further highlighted by positive performance from the NSE Subsectors: Banking and Consumer Goods (Save Insurance and Oil & Gas). Furthermore, trading activities increased in volume as 480m shares worth of N1.98 billion in 2,713 deals exchanged hands today. This is an increase from the 144.40m shares worth of N1.54 billion in 2,303 deals which exchanged hands on Thursday. Topping in volume terms are: Standard Trust Assurance Plc, United Capital Plc and Zenith Bank Plc, while Zenith Bank Plc and Guaranty Trust Bank Plc ended trading as the most active stocks in value terms. Brent crude oil today, settles at mid-US$55 per barrel. The All Share Index (NSEASI) closed negative with 0.44% (+109.62) increase to close at 25,164.91 from 25,055.29 the previous trading day. Market capitalization appreciated in tandem to N8.71 trillion from N8.67 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with an increase of 0.43 to 104.27 from 103.82 recorded at the end of the previous trading day, while its market capitalization stood at N8.12 trillion from N8.08 trillion of the previous trading day. Market breath closed positive as 21 stocks gained on the bourse today while 10 stocks declined, leaving 68 stocks unchanged. Leading the pack was PZ Cussons Nigeria Plc with a gain of 10.12% to close at N13.99 per share. It was closely followed by Julius Berger Nig. Plc with a gain of 4.98% to close at N38.39 per share. Others on the gainersâ&#x20AC;&#x2122; list include: United Capital Plc, Jaiz Bank Plc and Access Bank Plc amongst others. On the declinersâ&#x20AC;&#x2122; list, Livestock Feeds Plc led with a loss of 5.00% to close at N0.76 per share. It was closely followed by Forte Oil Plc with a loss of 4.99% to close at N59.21 per share. Others on the declinersâ&#x20AC;&#x2122; list are: UACN Property Development Co. Limited, Diamond Bank Plc and Custodian And Allied Insurance Plc. PZ Cussons Nigeria Plc topped the Thisday BGL 50 Index gainersâ&#x20AC;&#x2122; list as it emerged as the dayâ&#x20AC;&#x2122;s toast of investors with a gain of 10.12% to close at N13.99 per share. It was followed by Julius Berger Nig. Plc with a gain of 4.98% to close at N38.39 per share. Others on the gainers list include: Access Bank Plc, Transnational Corporation Of Nigeria Plc and Presco Plc; while on the declinersâ&#x20AC;&#x2122; list, Forte Oil Plc lead the pack with a loss of 4.99% to close at N59.21 per share. It was followed by UACN Property Development Co. Limited with a loss of 4.90% to close at N1.94 per share. Others on the decliners list include: Diamond Bank Plc, Custodian And Allied Insurance Plc and Mansard Insurance Plc. REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the ďŹ rm may have a conďŹ&#x201A;ict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

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T H I S D AY MONDAY FEBRUARY 20, 2017

UNIVERSITY OF GHANA, LEGON Postgraduate Admissions 2017/2018

Apply now to the most prestigious University in West Africa

Available Programmes for International Students COLLEGE OF HUMANITIES SCHOOL OF LANGUAGES Translation (MA) Arabic (MA/MPhil) Russian (MA/MPhil) Spanish (MA/MPhil) Linguistics (MA/MPhil/PhD) English (MA/MPhil/PhD) French (MA/MPhil/PhD) Conference Interpreting (MA) SCHOOL OF ARTS Classics (MPhil) Museum & Heritage Studies (MA/PhD) Archaeology (MPhil/PhD) History (MPhil/PhD) Philosophy (MPhil/PhD) Study of Religions (MPhil/PhD) SCHOOL OF PERFORMING ARTS Theatre Arts (MA/MFA/MPhil/PhD) Music (MPhil/PhD) Dance (MPhil/MFA) SCHOOL OF SOCIAL SCIENCES Economic Policy Management (MA) Economics (MPhil) Development Economics (PhD) Social Work (MPhil) Geography & Resource Development (MPhil/PhD) Psychology (MPhil/PhD) Political Science (MPhil/PhD) Sociology (MA/MPhil/PhD) Climate Change &Sustainable Development (MSc/MPhil) INSTITUTE OF STATISTICAL, SOCIAL AND ECONOMIC RESEARCH Development Studies (MA/MPhil/PhD) CENTRE FOR SOCIAL POLICY STUDIES Social Policy Studies (MA/PhD) Research and Public Policy (MRPP) (Evening) INSTITUTE OF REGIONAL POPULATION STUDIES Population Studies (MA/MPhil/PhD) LEGON CENTRE FOR INTERNATIONAL AFFAIRS AND DIPLOMACY International Aﬀairs*(Regular) (MA/PhD) International Aﬀairs (Part-Time) (MA) CENTRE FOR MIGRATION STUDIES Migration Studies*(MA/MPhil/PhD) SCHOOL OF LAW Alternative Dispute Resolution (MA) Human Rights and Administration (MA) #Alternative Dispute Resolution (LLM) #Oil and Gas Law (LLM) #International Human Rights and International Humanitarian Law (LLM(Regular) #for persons with degrees in law only SCHOOL OF AFRICAN STUDIES African Studies (MA/MPhil/PhD)

COLLEGE OF HEALTH SCIENCES

UNIVERSITY OF GHANA BUSINESS SCHOOL Development Finance (Special Programme) (MSc) Management and Administration (MA) Information Systems (PhD) Operations Management (MPhil) Management Information Systems (MBA/MPhil) Health Services Management (MBA/MPhil) Human Resource Management (MBA/MPhil) Public Administration (MPA/MPhil) Marketing (MBA/MPhil/PhD) Accounting (MBA/MPhil/PhD) Finance (MBA/MPhil/PhD Public Administration and Policy Management (PhD) Health Policy and Management (PhD) Risk Management and Insurance (MPhil)

SCHOOL OF BIOMEDICAL AND ALLIED HEALTH SCIENCES +Medical Ultrasonography (MSc) +Dietetics (MSc) +Audiology (MSc) +Medical Laboratory Sciences (MSc) Haematology (MPhil) Immunology (MPhil) Medical Biochemistry (MPhil) Pathology (MPhil) Chemical Pathology (MPhil) Physiology (MPhil) Anatomy (MPhil Speech and Language Therapy (MSc)

COLLEGE OF BASIC AND APPLIED SCIENCES SCHOOL OF PHYSICAL AND MATHEMATICAL SCIENCES Petroleum Geoscience (MSc) Mineral Exploration (MSc) Engineering Geology (MSc/MPhil) Geology (MSc/MPhil) Hydrogeology (MSc/MPhil) Applied Geophysics (MSc/MPhil) Applied Geochemistry (MSc/MPhil) Mathematics (MPhil) Chemistry (MPhil/PhD) Physics (MPhil/PhD) Statistics (MPhil/PhD) Actuarial Science (MSc/MPhil) SCHOOL OF BIOLOGICAL SCIENCES Fisheries Management (MSc) Coastal Zone Management (MSc/Mphil) Aquaculture (MSc/Mphil) Molecular Biology (MPhil) Biochemistry (MSc/MPhil/PhD) Molecular Cell Biology of Infectious Diseases (MPhil/PhD) Zoology (MPhil) Biodiversity & Conservation Science (PhD) Applied Parasitology (PhD) Botany (MPhil/PhD) Food Science (MPhil/PhD) Nutrition (MPhil/PhD) Marine Science (MPhil /PhD) Fisheries Science (MPhil/Ph) SCHOOL OF NUCLEAR AND ALLIED SCIENCES Applied Nuclear Physics (MPhil/PhD) Computational Nuclear Sciences & Engineering (MPhil/PhD) Medical Physics (MPhil/PhD) Nuclear Agriculture (MPhil/PhD) Nuclear Earth Science (MPhil/PhD) Nuclear Engineering (MPhil/PhD) Nuclear & Environmental Protection (MPhil/PhD) Nuclear and Radiochemistry (MPhil/PhD) Radiation Processing (MPhil/PhD) Radiation Protection (MPhil/PhD) Nuclear Science and Technology (MPhil) Nuclear Technology Applications in Petroleum and Mining Industries (MPhil) INSTITUTE FOR ENVIRONMENT AND SANITATION STUDIES Environmental Science (MPhil/PhD) Sustainability Science (MPhil) Environmental Sanitation Studies (MPhil)

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Entry Requirement MA/MSc /MPhil A good ﬁrst degree (at least a second class lower division) in a relevant ﬁeld of study from the University of Ghana or any recognized University for an MSc or MPhil. A minimum of two to three years working experience is required from all applicants desiring to pursue programmes at the University of Ghana Business School.

PhD Admission to any of the PhD programmes will require a relevant masters’ degree (MA/MSc/MPhil). It will also be limited to candidates whose academic and scholastic records show a potential for successful completion of doctoral degree programmes. All PhD programmes in the University are now fee-paying and the durations are as follows: Full-Time Part-Time

- Four (4) years - Six (6) years

Venues: Meet Staﬀ and Accredited Recruitment Agents of University of Ghana from 13th - 28th February, 2017 .

Ghana High Commission - Abuja Plot 301, Olusegun Obasanjo Way Area 10 Garki - Abuja 08171204916

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APPLY directly at http://admission.ug.edu.gh/igraduate/register.php | sgs.ug.edu.gh For more information contact University of Ghana Oﬃcials Nigeria 09065474056/ 09097471114/ 08171204916/ 08036638418 | Ghana +233303937244 | whatsapp: +233266694337 Email: international@ug.edu.gh; international@staﬀ.ug.edu.gh

Application Deadline: 31st March, 2017

T H I S D AY MONDAY FEBRUARY 20, 2017

Returns on utilization of funds sold to customers for the week ended Friday 17th February 2017

Stanbic IBTC Bank A Member of Standard Bank Group

T H I S D AY MONDAY FEBRUARY 20, 2017

Returns on sources of funds sold to customers for the week ended Friday 17th February 2017 S/N 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26

BANK: STANBIC IBTC BANK PLC SOURCE OTHER SOURCE 6 OTHER SOURCE 6 OTHER SOURCE 6 OTHER SOURCE 92 OTHER SOURCE 6 OTHER SOURCE 92 OTHER SOURCE 6 OTHER SOURCE 92 OTHER SOURCE 6 OTHER SOURCE 6 OTHER SOURCE 6 OTHER SOURCE 92 OTHER SOURCE 4 OTHER SOURCE 92 OTHER SOURCE 6 OTHER SOURCE 6 OTHER SOURCE 6 OTHER SOURCE 37 OTHER SOURCE 6 OTHER SOURCE 2 OTHER SOURCE 4 OTHER SOURCE 10 OTHER SOURCE 6 OTHER SOURCE 4 OTHER SOURCE 10 OTHER SOURCE 37

TRADE DATE 15-02-2017 17-02-2017 16-02-2017 17-02-2017 16-02-2017 15-02-2017 13-02-2017 13-02-2017 17-02-2017 14-02-2017 17-02-2017 14-02-2017 15-02-2017 16-02-2017 15-02-2017 13-02-2017 17-02-2017 17-02-2017 14-02-2017 17-02-2017 13-02-2017 15-02-2017 16-02-2017 14-02-2017 14-02-2017 14-02-2017

RATE 315.00 315.00 315.00 375.00 314.50 375.00 314.50 375.00 315.00 315.00 314.50 375.00 315.00 375.00 314.50 314.50 315.00 375.00 314.50 314.80 315.50 315.00 315.50 315.50 315.00 375.00

AMOUNT 0.01 0.24 29.92 53.33 81.33 120.00 207.31 226.06 285.70 294.93 417.33 420.42 566.69 737.55 770.05 1,000.00 1,084.00 1,443.11 1,913.87 1,930.09 2,262.25 2,720.06 3,194.44 3,452.45 3,874.81 3,976.96

CCY USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD

27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52

OTHER SOURCE 37 OTHER SOURCE 37 OTHER SOURCE 6 OTHER SOURCE 37 OTHER SOURCE 6 OTHER SOURCE 4 OTHER SOURCE 10 OTHER SOURCE 4 ECOBANK NIGERIA PLC ACCESS BANK PLC OTHER SOURCE 4 OTHER SOURCE 2 OTHER SOURCE 3 OTHER SOURCE 4 OTHER SOURCE 4 DIAMOND BANK PLC OTHER SOURCE 4 OTHER SOURCE 4 OTHER SOURCE 2 OTHER SOURCE 4 OTHER SOURCE 4 OTHER SOURCE 3 OTHER SOURCE 4 OTHER SOURCE 4 OTHER SOURCE 4 OTHER SOURCE 3

15-02-2017 16-02-2017 17-02-2017 13-02-2017 14-02-2017 14-02-2017 15-02-2017 17-02-2017 16-02-2017 13-02-2017 13-02-2017 14-02-2017 15-02-2017 16-02-2017 17-02-2017 15-02-2017 16-02-2017 15-02-2017 17-02-2017 14-02-2017 17-02-2017 16-02-2017 16-02-2017 14-02-2017 15-02-2017 15-02-2017

TOTAL AMOUNT IN USD AVERAGE

375.00 375.00 314.50 375.00 315.00 315.00 315.00 315.00 305.50 305.00 315.00 314.90 314.95 315.00 315.50 305.50 315.50 315.50 314.80 315.00 315.00 314.85 315.00 315.00 315.00 315.00

4,649.53 4,975.71 5,000.00 5,236.89 10,000.00 20,967.57 20,979.31 23,168.30 25,000.00 25,000.00 27,513.72 29,478.09 38,822.05 43,106.60 81,714.01 100,000.00 113,824.21 162,456.21 203,831.58 209,820.01 334,790.16 349,858.38 426,601.69 685,015.56 950,670.85 1,425,626.51

5,359,169.85 103,060.96

For more information please visit www.stanbicibtcbank.com or call 0700 2255 782 6262

Stanbic IBTC Bank A Member of Standard Bank Group

USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD

T H I S D AY MONDAY FEBRUARY 20, 2017

MONDAY FEBRUARY 20, 2017 ˾ T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Iraq Begins Battle to Free Western Mosul from IS

Iraqi government forces have launched an offensive to liberate the western part of the city of Mosul from the so-called Islamic State. Hundreds of military vehicles, backed by air power, rolled across the desert towards IS positions early on Sunday. Iraqi forces retook several villages south of the city in the first hours of the operation, taking them within striking distance of Mosul airport. Fears have been voiced about the safety of many thousands of trapped civilians. The offensive was formally announced by Iraqi Prime Minister Haider al-Abadi. Army Staff Lieutenant General Abdulamir Yarallah said in a statement that elite Rapid Response units captured the villages of Athbah and Al-Lazzagah - two villages south of Mosul airport. Government forces retook the eastern side of the city, the last major IS stronghold in Iraq, last month. But military officials say the western side, with its narrow, winding streets, may prove a bigger challenge. Lieutenant General Stephen Townsend, the commander of the US-led coalition forces, said in a statement on Sunday: “Mosul would be a tough fight for any army in the world.” The UN has voiced concern

about civilians trapped there, amid reports that they could number up to 650,000. Leaflets warning residents of an imminent offensive were earlier dropped over the west of the city. Charity Save the Children said on Sunday it believed that as many as 350,000 children were trapped. “This is the grim choice for children in western Mosul right now: bombs, crossfire and hunger if they stay; or execution and snipers if they try to run,” said the charity’s Iraq country director, Maurizio Crivallero Iraqi forces have now all but surrounded the western part of Mosul, while the US-led coalition has been carrying out air strikes on IS targets. Ahead of the launch of the operation, Mr Abadi said in a televised speech: “We announce the start of a new phase in the operation, we are coming to Nineveh to liberate the western side of Mosul.” “Our forces are beginning the liberation of the citizens from the terror of Daesh [IS],” he added, quoted by AFP news agency. The UN humanitarian coordinator for Iraq, Lise Grande, told the BBC on Saturday that “all of the parties to the conflict do absolutely everything they can to ensure that civilians survive the battle, and that they live”.

“Absolutely nothing is more important going into the campaign to retake western Mosul,” she added. As the advance got under way, the UN commissioner for human rights called on the Iraqi government to investigate videos shared on social media that

appeared to show Iraqi troops brutally abusing and executing IS fighters on the streets of east Mosul late last year. The videos have not been verified at this stage by any government authority or independent group. The Iraqi prime minister’s office said it had launched an investigation.

The offensive on the eastern part of the city was launched on 17 October, more than two years after jihadists overran Mosul before seizing control of much of northern and western Iraq. Experts warn that western Mosul, although slightly smaller

than the east, is more densely populated and includes districts that are seen as pro-IS. The UN said in late January that almost half of all the casualties in Mosul were civilians. At least 1,096 have been killed and 694 injured across Nineveh province since the start of October.

‘Poisoned’ CriticVladimir Kara-Murza Leaves Russia for Treatment An outspoken Kremlin critic who fell into a coma two years after a suspected poisoning has left Russia for treatment abroad. Journalist Vladimir Kara-Murza, who works for pro-democracy group Open Russia, became ill earlier this month. He has now recovered enough to leave the country to seek further treatment, his lawyer Vadim Prokhorov said on Facebook on Sunday. The activist nearly died when he suffered sudden kidney failure in 2015. Mr Kara-Murza, a friend of opposition leader and former deputy prime minister Boris Nemtsov, who was shot dead in February 2015, fell into a coma for a week, with tests revealing he had

ingested a poisonous substance. It is unclear what prompted the latest collapse. However, Mr Prokhorov said he was leaving Russia on Sunday “to go through rehabilitation treatment after his second acute poisoning”. He added: “The diagnosis in his hospital discharge report is still the same: ‘toxic influence of an unknown substance’.” -BBC SpaceX successfully launches rocket after Saturday setback Private rocket firm SpaceX has successfully launched a rocket carrying a cargo ship for the International Space Station following the postponement of take-off on Saturday because of technical problems. Witnesses said the rocket was

only briefly visible before making its way into the clouds. The launch was made from the Kennedy Space Center in Florida. The rocket successfully landed on the ground nine minutes after taking off. The touchdown is part of the company’s strategy of returning rockets to earth so they can reused rather than jettisoning them in the ocean after a single launch. Moments after the rocket landed, the SpaceXDragonsupplyshipsuccessfully reached orbit, prompting cheers inside the SpaceX Mission Control room. REUTERSThe Dragon is now making its way to the International Space Station, and is expected to arrive on Wednesday. Last month SpaceX resumed flightsby launching a Falcon 9 vehicle

from the Vandenberg Air Force Base on the California coast. It was the first mission by the company since one of its vehicles exploded on the launch pad in September. Elon Musk, the founder of SpaceX, wants his company to be at the forefront of the race involving several companies to deploy satellite-based internet services over the next few years. The company also has a long queue of customers all waiting for a ride to orbit - including America’s civil space agency (Nasa), the US military and multiple outfits in the commercial sector. ButSeptember’s launch pad mishapwas a spectacular reminder of just how unpredictable rockets can be sometimes.

˾ MONDAY, FEBRUARY 20, 2017

NEWS

How African Media is Dealing with Fake News “ALERT: Don’t fall victim to fake news!” This is the message that pops up when you visit South Africa’s Eyewitness News (EWN) website. The warning advises readers to be more vigilant about the news they consume. The message goes on to say that the publication is committed to providing news that is accurate, fair and balanced. It then links to another page that gives tips on how to spot fake news, with a list of websites it has identified as purveyors of fake news in South Africa. The publication also invites readers to send in fake stories they come across and those, which they are unsure about. EWN’s attempt to fight the spread of false news content is probably a first on the continent. Katy Katopodis, EWN editor-in-chief, told the BBC that the publication felt it had a duty to protect the integrity of journalism by educating its audience. “We have to be proactive to acknowledge the dangers of fake news and to offer our readers advice on how to spot a fake news story,” she says. “At Eyewitness News we believe we need to counter the lies and the fake news with the truth and a reality check. “We all have a responsibility to disseminate news that is factual and correct.” EWN’s fake news guide was implemented last month amid allegations that the governing African National Congress (ANC) had planned to run a campaign to create and disseminate false information to discredit opponents ahead of last

year’s local election in which it lost many seats. AmaBhungane, an investigative journalism team, reported that a covert operation dubbed the War Room, was intended to “disempower Democratic Alliance and Economic Freedom Fighters parties” by using digital media and social media influencers. The ANC has denied the allegations, with one official accused of being involved in the planning of the operation describing it as “fake news”. The term fake news, which has been used a lot since last year’s U.S. presidential elections, was meant to call attention to falsified news content that was widely shared on the internet, mostly on social media.

Trump ‘Endorsed by the Pope’ An analysis by BuzzFeed released after the US elections found that top fake election news stories generated more total engagement on Facebook than top election stories from 19 major news outlets combined. The top five stories under this study were positive spins to prop up the candidacy of Donald Trump, including one claiming that he was endorsed by the Pope. “Pope Francis Shocks World, Endorses Donald Trump for President, Releases Statement,” the article's headline read. The other stories promoted conspiracy theories about his then challenger Hillary Clinton, which some analysts said helped undermine her campaign. The creation and distribution of misinformation is not new, the difference at the moment is that spreading

The mainstream media in Nigeria is not immune to the publication of "fake news" false information has been incentivised. Digital publishing platforms like Facebook and Google have built ecosystems that reward clicks on website links and one of the most effective ways to drive traffic to a website is to entice readers with sensational content. The Macedonian teenagers became infamous after it was revealed they were behind several fake stories shared during the US election, mostly in support of Mr. Trump, earned thousands of dollars by getting thousands of clicks on articles they shared on Facebook. In Africa, several articles have managed to fool many and garnered a lot of clicks for their promoters. Here are samples of some of the headlines: r &SJUSFBO NFO PSEFSFE UP marry two wives or risk jail

r 6, "OOPVODFT 7JTB 'SFF Entry for Nigeria and Other Commonwealth African Countries r 5SVNQ TBZT i"GSJDBOT are lazy fools only good at eating, lovemaking and thuggery” r 3PCFSU .VHBCF TBZT Zimbabweans are “honest people” but “stealing is in every Kenyan’s blood”. The allure of getting clicks has seen some publishers take advantage of the interest fake stories generate. Recently, Kenya’s sports website Game Yetu, owned by a mainstream publisher, The Standard, lifted a story from Mzansi Live, a fake news website in South Africa with an unlikely claim - that Zimbabwe had sent its female footballers to Brazil to be impregnated by soccer legends there: Game Yetu tried to keep editorial distance from the

article by placing it under the rumours and gossip section of its website. Ms. Katopodis says she is concerned about mainstream publishers pursuing clickbait. The South African paper editor says that it behoves credible newsrooms and journalists to fact-check stories and promote media literacy. “I am inspired by how the banking sector has been educating its customers to deal with online scams - we should do the same.” While there is nothing wrong with curating content to lure readers to read stories on your website, overselling and packaging of news items using misleading headlines does a lot to undermine publishers’ credibility. With traditional revenue sources drying up and with viral content bringing in the

money, for-profit media organisations are caught in a conundrum.

Porn Warning Huffington Post's South Africa edition exemplified this. It recently published a handy guide for spotting faking news, which included this important advice: “Reputable media houses will have credible adverts on their pages. Fake news sites often have pornographic adverts. That should raise red flags.” However, below the article it had a widget containing a series of fake news stories, including one of U.S. President Donald Trump calling South Africa’s President Jacob Zuma “the best ever”. r $VMMFE GSPN UIF ##$

EX-NNPC BOSS, YAKUBU, FIGHTS BACK, ASKS COURT TO SET ASIDE FORFEITURE OF $9.7M in applying and securing the forfeiture order and it was liable to be set aside. He therefore asked the court to set aside the order and return the cash sums of $9,772,800 and £74,000,000 to him. His lawyer argued that the court lacked the jurisdiction to entertain the matter, being one related to a crime alleged to have been committed in Abuja, outside the territorial jurisdiction of the Kano court. In a motion on notice, Raji argued that by Section 45 of the Federal High Court Act, an offence shall be tried only by a court exercising

jurisdiction in the area or place where the offence was committed. He said: “No aspect of the perceived offence in respect of which the order of 13th February, 2017 was made, was committed within the Kano judicial division of this Honourable Court.” He also said the federal government lacked the legal competence (locus standi) to seek the interim order of the court granted on the 13th of February. “By Section 28 of the EFCC Act, only the commission, i.e. the EFCC, has the vires to seek an order for the interim forfeiture of property under

the Act. “The power of this Honourable Court to make interim forfeiture order(s) pursuant to Sections 28 and 29 of the Economic and Financial Crimes Commission Act, 2004 (hereinafter “EFCC Act”), is applicable only to alleged offences charged under the EFCC Act and not to offences cognisable under any other law. “The ex-parte order of this court dated 13th February, 2017, was made in respect of alleged offences under the Independent Corrupt Practices and other Related Offences Commission Act

(hereinafter “ICPC Act”) and not the EFCC Act as prescribed by Section 28 and 29 thereof. “The conditions precedent to the grant of an interim forfeiture order under Sections 28 and 29 of the EFCC Act were not complied with by the applicant before the order was made,” Raji argued in the motion. He further argued that the combined effects of Sections 28 and 29 of the EFCC Act are that a charge alleging infractions against the provisions of the EFCC Act ought to be brought against a suspect before the powers of the court under Sections

28 and 29 of the EFCC Act before an order of interim forfeiture of property can be actuated. He said without a formal charge, no prima facie evidence could be established in order for the provisions of Section 28 and 29 of the EFCC Act to be actuated. “In the instant case, no charge was brought against the respondent/applicant before the provisions of Section 28 and 29 of the EFCC Act were activated to grant the ex-parte order of 13th February, 2017,” Raji argued. EFCC arrested Yakubu,

following the recovery of $9,772,800 and £74,000 cash from him early this month. Yakubu is reportedly being detained at an EFCC facility in Kano. The cash was allegedly hidden by the suspect in a fireproof safe at his brother’s house in the slums of Sabon Tasha area of the Kaduna metropolis. Yakubu was subsequently arrested and taken to Kano for interrogation. He was said to have admitted ownership of the money which he said was a gift. He however did not name the givers.

everything including toothpicks and tissue paper. “All of the money earned was just going to buying food. As I speak to you, Nigeria just achieved the record of being the second largest producer of rice in the world. Yet, the rice revolution just started a year ago. A newspaper did an investigation in Kebbi and they found out that there were 48,000 new millionaires in the state alone for growing

rice. Over reliance on oil has killed this country and we cannot continue like this. “The jobs are being created as promised, that is, half a million jobs a year. The economy could not have supported it in the past, but before the close of the year, we would have done more than 300,000 new jobs while the balance will be carried over into the new year.” Earlier, a member of Board of Trustee (BoT) of the All Progressives Congress (APC),

Ismaila Ahmed said that Nigerians have the right to hold Buhari and the ruling party accountable on all the promises made during the 2015 presidential election campaign. According to him, “As a government, we have to be open to criticism. Some people are not happy, people have to express their frustration, people have to express their anger, we can not and we should not have a problem with that.”

31 DAYS AFTER, NATION AWAITS BUHARI’S RETURN describing the president as a long distance runner not a sprinter whose tenure would not be “flash in the pan”. Throwing more light on why he described Buhari as a marathoner, Shehu said there are presidents who are 100-day presidents, who seek to make the impact they want to make in 100 days or in one year, in order to get headlines and create an impression. Shehu said Buhari, on the other hand, intends to put

in place enduring legacies. Reeling out the administration’s achievements, he said: “The important whistleblowing policy that the president has instituted, it provides an opportunity for me, you and to every citizen of this country. “If you see stolen money going anywhere, you will not only be honoured for pointing it out, you can earn a commission. “So, there is a reward for

exposing that and that money can change one’s life. “The president is also working hard to restructure the economy. This is very much misunderstood by Nigerians; unfortunately it is easier to destroy than to build. “We met a situation whereby the economy had been ravaged and people were used to lifestyles that could no longer be sustained. “No country can develop when you have to import

MONDAY FEBRUARY 20, 2017 ˾ T H I S D AY

NEWS

News Editor Davidson Iriekpen Email davidson.iriekpen@thisdaylive.com, 08111813081

Sheriff Stands Rejected as PDP Chairman, Says Ihedioha Fani-Kayode: No sane person will support him Staff back Makarfi Sheriff briefs IBB on appeal court’s decision

Onyebuchi Ezigbo in Abuja and Laleye Dipo in Minna The former Deputy Speaker of the House of Representatives, Hon. Emeka Ihedioha, has said majority of the party members will never support Senator Ali Modu Sheriff as National Chairman of the Peoples Democratic Party (PDP). Similarly, the former Minister of Aviation, Chief Femi Fani-Kayode, has said anyone who seeks to work with the embattled chairman is either misguided or naive. Speaking in an interview with THISDAY yesterday in Abuja, Ihedioha said he fully supports the decision of the leadership of the National Caretaker Committee under Senator Ahmed Makarfi to take the matter to the Supreme Court. He said the leadership of the Imo State chapter of the PDP met at the weekend where they rejected the reinstatement of Sheriff as chairman, and instead resolved to support Makarfi and the national caretaker committee. “I have always said Sheriff was an unnecessary subject in the life of our party because he wasn’t and hasn’t been with us because the tendencies of Sheriff is well known to most of us but unfortunately when some of the leaders of our party pushed for his appointment as chairman of our party at that time for a period of three months I don’t think they had a very good knowledge of him,” he said. Ihedioha said the former governor of Borno State does not possess the right character to lead

the PDP at this time and should not be allowed to sell the party to the All Progressives Congress (APC). He said it would be better for one to simply join the APC than to remain in a PDP under Sheriff which will become APC’s surrogate in the end. “Those of us who knew him and appreciated his antecedent didn’t take that very well we were very convinced that he wasn’t the messiah we were looking for and knowing his antecedent we know that he is a contractual politician and we also know that he was hired in the hay days of Abacha regime to frustrate the gathering of political summits in the 90s, he was also the contrator for that project. “Again, you could recall when he was chairman of the Board of Trustees of the All Nigeria Peoples Party (ANPP), he was sabotaging their efforts. You could have said it was to the advantage of the PDP but then we should have known better that he wouldn’t do any better for us. I don’t see and I have never seen Sheriff as one that would further the interest of democracy or the interest of the PDP or put the party in the mode to win elections. “We have seen everything he has done and everything he stands for that here is a chairman that would not tell you the truth, here is a chairman that will misguide you and here is a chairman that clouds other interests other than propagating the party he claimed to be the chairman.” On what advice he would offer leaders and fellow party men

FG to Decide What to Do with New Official Residence forVice President

under the present circumstances, Ihedioha said they should use the opportunity to go into introspection and to continue to strategise while awaiting the final decision at the Supreme Court. While reacting to the Appeal Court judgment restoring Sheriff to office, the former President Jonathan Presidential Campaign Spokesman, Fan-Kayode, said he still, stands with Ahmed Makarfi and the Caretaker Committee unless and until the Supreme Court says otherwise. According to Fani-Kayode, not

until the apex court rules on the leadership tussle, Makarfi and his team would remain on the saddle. He described Sheriff as an “Angel of Death to the PDP,” adding that he is worse than the bubonic plague. “Not only is he a curse to our party but he is also an affliction to our nation. Those that say that they will work with Sheriff are misguided and naive. Worse still anyone that calls for members of the PDP to rally behind him and recognise him as our national chairman is a simpleton and a fool. “I say this because the man is

evil: he is an agent of destruction and no good can come out of him. I was the first to see him for what he was and I said so publicly. “Then came the PDP Ministers’ Forum who also stood their ground. At first, no-one believed us until eventually 90 per cent of our party members lined up behind those of us that opposed Sheriff and that supported Makarfi. “I read his insulting comments about Governors Ayodele Fayose and Nyesom Wike and I laughed. Are these not the very same people that brought him in the first place

and convinced others in the PDP Governors’ Forum to support him? “Now he has finished using them to get what he wants he is insulting them and saying that they must be kicked out of the party and dealt with. “I say shame on him because that will never happen. Fayose particularly has proved his worth to Nigeria and Wike has stood firm and strong in defence of his people and state. They are both lions and I am proud to stand with them

Cont’d from page 58

CONDOLENCE VISIT

L-R: Minister of Mines and Solid Mineral Development, Dr. Kayode Fayemi; Son of the deceased/Ogun State Commissioner for Commerce and lndustry, Mr. Bimbo Ashiru; Governor lbikunle Amosun; and Mr. Segun Awolowo at the final burial of Omo’ba Nimota Moradeun Ashiru in ljebu Ode....weekend Abiodun Ajala

Osinbajo says Aguda House good enough for him

We’ll No Longer Tolerate Cheap Blackmail, Army Tells IPOB

Tobi Soniyi in Abuja

Paul Obi in Abuja

The Office of the Vice President yesterday said the federal government would decide what to do with the new Vice President House built by the administration of Dr. Goodluck Jonathan. A statement issued yesterday in Abuja by the Senior Special Assistant to the Vice President on Media and Publicity, Mr. Laolu Akande, said the incumbent Vice President, Yemi Osinbajo, was satisfied with living in Aguda House. He said the new house for the vice president which already has 14 buildings almost completed was not the idea of the present administration. He also said since the present regime came on board in 2015, it had not committed a dime to the project. He said: “For the umpteenth time, we like to clarify that the proposed plan of the immediate past administration to build a new official residence for the occupant of the Office of the

Vice President, including the controversial gatehouse preceded this administration. “The project which started in 2010, was initiated and funded by the immediate past administration, but had never featured in the two budget proposals of the Buhari administration: neither in the 2016 nor the 2017 spending plans. “Any suggestion therefore that this project benefits our administration or that it reflects our spending style or preferences is not only misleading but blatantly false. “Besides, the incumbent Vice President, Osinbajo, has said publicly that he considers Aguda House, which he currently occupies, a befitting official residence for the Vice President and sufficient for his needs. “While the project is now about 85 per cent complete, the federal government, in the circumstances, will decide at the appropriate time what is the best use for the 14 buildings already on the project site.”

The Nigerian Army yesterday warned members of the Indigenous People of Biafra (IPOB) to desist from blackmailing the military, as it will not longer tolerate any form of cheap blackmail. In a statement signed by the Deputy Director of Army Public Relations, Col. Aminu Iliyasu, the army said attempt was being made by IPOB members to discredit the army. Hr said: “The attention of 6 Division, Nigerian Army has been drawn to a baseless and unsubstantiated allegation by one Mr. Emma Powerful who claims to be the Media and Publicity Secretary of a criminal gang that goes by appellation ‘IPOB’ in which he claimed through the media that 11 of its members were killed by soldiers on January 20, 2017 in Port Harcourt while conducting a solidarity rally to commemorate the election of Mr. Donald Trump as President of the United States of America. “The allegation is false, malicious

and a the figment of his imagination. We therefore wish to warn Powerful and other like-minded mischief makers that the Nigerian Army will no longer tolerate such spurious and unfounded allegations that are injurious to the hard-earned image and reputation of the Nigerian Army, its selfless and dedicated officers and soldiers by any group of criminals regardless of their appellation.” “On January 20, 2017, members of the group were mobilised from Abia, Anambra, Enugu, Imo and Cross River States for an alleged rally with dubious intent of molesting innocent citizens, intimidating passers-by and wrecking havoc on commuters, thereby disturbing public peace, safety and security.” Iliyasu explained that “the choice of Port Harcourt (the Garden City) as the epicentre of the protest has left much to be desired. “It is however worthy to restate that one of the constitutional responsibilities of the Nigerian Army is to come to the aid of the civil authority whenever the need

arises. In line with this constitutional mandate, troops of 29 Battalion Nigerian Army, were deployed in conjunction with other sister security agencies to prevent any loss of life or property with strict adherence to the established rules of engagement.” He added that “despite all provocative attempts occasioned by the stoning of security agents and the smashing of commuters’ windscreens by the violent protesters, troops refused to be cajoled into the criminal gang’s trap to fire a single shot. “This is indicative of the troops’ total compliance with their Rules of Engagement. The violent protest was subsequently subdued with the use of tear gas and arrests were made by a sister security agency with no casualty recorded on either side. “It is however worrisome and disturbing for anyone to falsely accuse troops deployed in support of civil authority who conducted their duty professionally under the beaming lenses of cameras of allegedly killing 11 citizens of

our great country.” The Deputy Director maintained that well-observed trend of this criminal gang is the malicious posting of old videos and pictures from their archives on social media platforms which has no bearing on their claims to attract public sympathy and whip sentiments among the citizenry. “To this end, the Headquarters of the 6 Division of the Nigerian Army, Port Harcourt, wishes to inform the public that the allegation is not true and should be dismissed as mere propaganda by the separatist group. We wish to restate our total commitment to the protection of lives and properties within the Division’s area of responsibility. “We therefore solicit the cooperation and understanding of all peace loving citizens and further enjoin them to join hands to help eradicate all forms of criminality within Rivers, Bayelsa, Akwa Ibom and Delta States. This will no doubt enhance mutual co-existence, peace and socioeconomic development of the region,” Iliyasu stressed.

MONDAY FEBRUARY 20, 2017 ˾ T H I S D AY

NEWSEXTRA

Shettima Meets Heads of Security Agencies over Resurgence of Boko Haram Attacks Micheal Olugbode in Maiduguri Following the resurgence of

attacks by remnants of the Boko Haram terrorists in some parts of Borno State, Governor Kashim Shettima has held an

Goodie Ibru Retires from Ikeja Hotels Barely two months after securing victory in court as the authentic Chairman of Ikeja Hotels Plc, Mr. Goodie Ibru, has resigned from office. Ibru said he took the decision in the overall interest of the company and the larger Ibru family. In a statement yesterday, he predicated his decision on the need to get Ikeja Hotels which had been hampered as a result of multiplicity of law suits filed by shareholders in the contest for the management and control of the company to perform optimally. Ibru stated that the decision of Justice Kafarati of the Federal High Court in Abuja on December 21, 2016, confirming him as chairman, vindicated his struggle for corporate governance in the company and provided the right timing for him to retire as the founding chairman after 32 successful years in office. He called on the younger generation of the Ibrus to work with other shareholders to continue

to carry on the torch of excellence which Ikeja Hotels has been known for. He also stated that the Ibru family has gone through a tough phase in the recent past and as the only surviving son of the first generation of the Ibrus, he is more committed to working with his sisters in keeping the family united. Ibru founded Ikeja Hotels Plc in 1975. He opened its flagship property, the Lagos Sheraton Hotel and Towers, in 1985. The company acquired in 1992 the Tourist Company of Nigeria Plc, the holding company of the Federal Palace Hotel and Casino. Also under Ibru’s championship, the group acquired Capital Hotels Plc, the owner of the Abuja Sheraton Hotels and Towers. Ibru, 75, has been a leading light of the hospitality industry in Nigeria in the last four decades.

emergency security meeting with the heads of security agencies in the state. The meeting, THISDAY gathered, was attended by heads of the Nigerian Army, Air Force, police and the Department of State Services (DSS). The meeting was aimed at taking proactive measures on how to increase surveillance and forestall unanticipated security breach. The governor began the meeting with a three-hour closeddoor meeting with the Theater Commander, Operation Lafiya Dole, Major General Leo Irabor, at the Governor’s Office in the Government House, Maiduguri. During the meeting, the governor was briefed on the recent attacks and ongoing military operations while discussions were held with assurances that the remnants of the insurgents were on suicidal

mission given their displacement from their former headquarters at the Sambisa forest. The governor’s Special Adviser on Communications and Strategy, Malam Isa Gusau, said in a statement yesterday that after the meeting with the Theater Commander who is not a member of the state security council, Shettima presided over an emergency meeting of the council which involved core armed forces. The over three-hour meeting was held at the council chambers of the Government House, had in attendance the General Officer Commanding (GOC) 7 Division of the army, Brigadier General Victor Ezugwu; the Commander, 79 Composite Group of the Nigerian Air Force, Air Commodore Charles Oho; the state Commissioner of Police, Commissioner of Police, Damien Chukwu; the Garrison Commander, 7 Division of the

army, Brigadier General Jibrin G. Mohammed; the state Director of the DSS, Suleiman Kankia; Commandant of the Nigerian Security and Civil Defence Corps (NSCDC), Ibrahim Abdullahi; the Secretary to the State Government, Usman Jidda Shuwa, the Attorney General and Commissioner for Justice, Kaka Shehu Lawan and the Permanent Secretary in charge of security. At the end of meeting, it was gathered that new guard locations were established in some routes across the state to curtail the movement of remnants of Boko Haram fighters; deployment of security personnel to various locations were increased with more members of Civilian JTF (youth volunteers involved) while the governor gave approval for the release of additional patrol vehicles to security agencies for increased

surveillance. The governor also approved logistics to compliment efforts of the federal government in strengthening armed forces while measures were adopted to strengthen the Civilian JTF and hunters. The meeting also reviewed synergy between formal armed forces and volunteers with steps adopted to increase collaboration and clamp down on cattle rustling used by insurgents to raise funds. The council deliberated on the recent false information spread by mischief makers to cause disaffection between armed forces and volunteers particularly the Civilian JTF, with the council warning mischief makers against destabilising the emerging peace across the state. Gusau said the measures adopted at the meeting were already being implemented at the weekend.

Seplat Boss Throws Weight behind Sale of National Assets Obinna Chima The Chief Executive Officer of Seplat Petroleum Development Company Plc, Mr. Austin Avuru, has stressed the need for the federal government to sell off its unproductive assets in order to raise the much needed capital to reflate the economy. Avuru said this while speaking at: “2017 Budget- Implications for Business and Tax,” organised by KPMG in Lagos at the weekend. He expressed disappointment that most of the persons involved in the debate on sale of national assets do not understand what the discussing asset sales in Nigeria has happened among people who do not know what the real issues are. Avuru explained: “What are the things we are asking that government should sell? Assets that are not performing, assets that are gulping capital badly needed for more useful things and assets whose sales would not only generate revenue, but would actually make the assets more efficient. “Look at the refineries, when was the last time we are not importing 90 per cent of our product needs? So, what are the refineries doing for us? And there is capital allocation to them every year. There is overhead allocation them to pay their staffs.”’ According to the Seplat boss, if government had sold the refineries in 2007, the country would properly have made $2 billion, adding that if they are sold today, the country “will be lucky to make $1.5 billion. But if you put them up for sale after the Dangote Refineries have been commissioned, you won’t make $300 million and they would be worthless.” “So, when people are that we shouldn’t sell those assets, I don’t understand what they mean.” Commenting the implications of the 2017 appropriation bill for

the ol sector, Avuru noted that what government policies end up achieving is the crowding out of the public as they struggle to compete with the private sector in areas where the private sector is ready to provide funding. “Let me also say that in the past five years, we were often misled into believing that the drastic reduction in activities, particularly in the onshore was caused by a sharp drop in oil prices. That is not true. “The real cause of the reduction of activities in the Joint Venture areas, that is the onshore and shallow waters, was actually because of the fact that government wasn’t paying its bills. That was a bigger factor. “So, the attempt to solve the funding problem, the new initiative that has eliminated cash calls, again the devil would be in the details, we would watch to see how that would come into effect. “But if that is effected, which means the JV partners would be self-funded, they would be able to generate funding for their programmes and we would see a lot activities picking up from the second half of this year,” he said. He argued that the introduction of oil swap in the 2017 appropriation bill, was “a hidden form of subsidy,” adding that with that “you don’t need to go to the National Assembly to appropriate for subsidy. But I can tell you that during the fiscal year 2017, there would be close to $1 billion petroleum product subsidy just by that.” Earlier, the National Senior Partner, KPMG in Nigeria and Chairman, KPMG West Africa, Mr. Kunle Elebute, bemoaned the delay in passing the national budget yearly, saying that the way and manner the executive and legislature go about the budget defeats the essence of having the document.

GOVERNOR OF THE YEAR

Former Rivers State Governor, Dr. Peter Odili; former Secretary General, Commonwealth, Chief Emeka Anyaoku; Governor Nyesom Ezenwo Wike; and his wife, Justice Eberechi Suzzette; and others during the conferment of The Sun Governor of the Year 2016 on Wike, in Lagos ....weekend

Bill and Melinda Gates Foundation Spent $250m on Nigeria’s Health, Education in 2016 The Bill and Melinda Gates Foundation spent $250 million on health, education and improving the lives of the poor in Nigeria in 2016. Its Country Representative, Dr. Mairo Mandara, told the News Agency of Nigeria (NAN) in Abuja yesterday that the foundation estimated how much it spend based its investments on the needs on ground. “Five years ago, we spent about 35 million dollars; but last year alone, we spent 250 million dollars because the needs were high and we had to spend the money. “This year we will see a little increase in what we were doing; we do not say this is the amount of money we will spend in Nigeria. “We see the need and then address the need based increasingly on partnership with the government; we look at what the government is trying to put on its own scale and then

partner with them.” Speaking on the 2017 annual letter written by the Gates to the world, she said that it was significant because “it highlights the successes of the foundation” even in time of hardship and loss. She said that in the annual letter, they usually expressed their reflection of the year and their expectation for the world. She said facts showed that the foundation was experiencing the fastest growth the world had ever seen and that through it, 122 million children’s lives had been saved since 1990. Highlighting some of the achievements of the foundation across Africa, she said that mortality in children under the age of five caused by pneumonia, diarrhoea and malaria had decreased across sub-Saharan Africa. “In Nigeria, we have witnessed a 49 per cent reduction in under age five

mortality between 1990 and 2016. “Also in Nigeria, percentage of children who receive vaccine against Diphtheria, Pertussis, Tetanus, Hepatitis B and HIV increased to 56 per cent in 2016.” Mandara said there was increased access to information about reproductive health and innovative contraceptive methods. She added that 27 per cent of women now use contraception in sub-Saharan Africa, while Nigeria accounted for 15 per cent of the figure. According to her, this implied that more women now have the power to make their own family planning decisions. She also said that a report by the United Nations (UN) says that extreme poverty in sub-Saharan Africa has decreased by 28 per cent since 1990. She, however, urged wealthy Nigerians to support the cause of humanity to help improve the lives of others and bridge the poverty

gap, adding that millionaires around the world had started supporting it. “Gates has started a giving programme called `The Giving Pledge’ where he goes to his billionaire friends to convince them to give half of their wealth to charity upon their death. “They can choose whatever area they want to invest in but it has to be for the cause of improving the lives of others and so the billionaires are already coming out massively to support other people. “What is crucial is that our own multi-millionaires in Nigeria need to get up-to-speed in investing in critical strategic areas that improve the lives of poor people particularly health, education and poverty reduction.” The Bill and Melinda Gates Foundation has been supporting humanity’s cause in Nigeria through donations to government and other Non-Governmental Organisations (NGO) for more than 10 years.

MONDAY FEBRUARY 20, 2017 ˾ T H I S D AY

NEWSEXTRA

Cross River Frustrated with FG over 260km Super Highway Threatens to takeover national park Bassey Inyang in Calabar Blaming the federal government for allegedly frustrating its effort to commence the construction of the proposed 260-kilometre super highway, the Cross River State Government has informed the federal government that it would go ahead with the project, if by middle of March the state fails to get the necessary approvals for construction to commence. According to the state government, the construction of the super highway, which is one of the two signature projects promised by Governor Ben Ayade, has suffered undue sabotage because of the uncooperative attitude of some federal government agencies, which are suspected to be conniving with perceived enemies of the state, and detractors of the administration in the state to frustrate the road project. The state government lamented that after addressing all the contentious issues concerning the environmental impact assessment (EIA), for the project, the federal agencies have continued to raise fresh hurdles that have stalled effective take-off of the project. Addressing journalists on the issue yesterday, the state Commissioner for Information, Mrs. Rosemary Archibong, said: “Efforts have been put in place to ensure that these projects meet the approval of the federal government and all other international stakeholders, but somehow we have had these projects stalled over time for different reason and the state government has not rested on its oars.” The commissioner said the state government has bent over backwards to meet the demands just to make sure that these highly laudable employment generating projects get approval for construction from the federal

government. The commissioner who led three other commissioners to the press conference held at the Government House disclose that the revocation of 10-kilometre buffer on either way of the Superhighway which was meant to be used for development has been reversed because the governor listened to the cries of the communities that 10kilometre buffer should not be part of the Superhighway. “The federal government must grant approval not later than the middle of March. We want to continue with our work. In a short time, the rainy season would soon set in and Cross River State is a place of torrential downpour and we cannot wait for the rainy season and all the lofty projects that will benefits Cross River and Nigeria would suffer. We are appealing that by the middle of March we would want to see our approvals granted,” Archibong added. Speaking in the same vein the state Commissioner for Lands, Professor John Ofem Inyang, who indicted some nongovernmental organisations (NGOs) and individuals of attempting to sabotage the project, said some of the NGOs have decided to join our opponents to politicise the superhighway project “We want to once again tell our opponents to look for something else to criticise this government and not the superhighway. We have sacrificed the 10-kilometre span on either side of the road, limiting to just 70 metres. And I think from today, they have nothing to say against the Superhighway other than to cooperate with us. So we are going to be aggressive after the second week of March, if we don’t get our EIA. We have met all the requirements as far as EIA approval is concerned. So as a people we would come together, we would

Contractor Abandons Third Mainland Bridge Repairs

be formidable and we would fight for the cause that we believe in, in as much as we have met all the requirements. If the goalpost is shifted again, we would take a different action because we know our rights,’’ the lands commissioner said. The state Commissioner for Water Resource, Mr. Gabe Odu Orji, said: “We have done everything to get these approvals and cannot continue to wait again because we have the constitutional right to invoke and proceed with this

The Federal Road Maintenance Agency (FERMA) has come under heavy criticism from residents in Lagos for abandoning the repair works on the Third Mainland Bridge and other adjoining roads. The agency last month had begun repairs on both carriageways of the bridge, scrapping the asphalt on some sections of the bridge, but had vacated site for over two weeks, leaving motorists to contend with the current state of the road. Motorists had attributed several accidents which had occurred on the bridge in recent times to the uncoordinated method by which FERMA was carrying out the repair works. But investigations have however, showed that though the sum of N10billion was voted for FERMA in the 2016 Budget of the Federal Ministry of Works, the contractor engaged for the job was yet to be mobilised. With the March 31, 2017 date for the end of the implementation of the 2017 budget fast approaching,

FERMA had hurriedly moved the contractor to site, however its failure to mobilise them led to the repair works being stalled. Some motorists in the state are however calling on the Minister of Works, Mr. Babatunde Fashola, to rise to the challenge and ensure that the agency completes the repair works so as to save motorists the nightmare and the incessant accidents caused by the present state of the bridge. Mr. Babajide Kasali, a motorist who plies the axis on a daily basis, decried the long hours of traffic occasioned by the slow pace of the repair works, saying that it was gradually taking a toll on his health and productivity. Another motorist, Mrs. Abidemi Otegbola, said FERMA’s inability to carry out its duties was due to lack of proper monitoring by the parent ministry, as Fashola already has his hands full with responsibilities from the Power and Housing Ministry.

government to concurrently legislate of the environment. “That we have been playing the good boy so far for the federal government does not mean we do not know our right. Why the agencies concerned with these approvals are still rigmarole is what we don’t know,” Orji said. Commissioner for Climate Change, Alice Ekwu, who queried the introduction of fresh scope after the EIA has been done, said: “In this

instance, the superhighway is not even passing through the national park as our detractors would rather have it stated. It is outside the national park and indeed it is within the degraded area.” The state Commissioner for Finance, Mr. Asuquo Ekpenyong Jnr., who spoke in the same vein as his colleagues said the Super Highway would be constructed through Public Private Partnership (PPP), and that Chinese investors were already on standby to undertake the project.

HARDWORKING AWARDEES

L-R: President, Lagos Chamber of Commerce and Industry/The Sun Newspaper Lifetime Achievement awardee, Mrs. Onikepo Akande, President, NACCIMA/Iyalode of Nigeria, Chief Alaba Lawson, and Founder/CEO, Emzor Pharmaceutical Industries Limited/The Sun Business Person of the Year awardee, Dr. Stella Okoli, at the 14th annual The Sun Newspaper Awards in Lagos....weekend. Dan Ukana.

PDP will Win 2018 Ekiti Gov Poll Despite Party’s Crisis, Fayose Boasts Victor Ogunje in Ado Ekiti

Blames lack of funds, motorists groan

projects. First you notice that the Yankari Game Reserve which is today in Gombe State was formerly a National Park. But, it was not in the interest of the state government to continue as a national park, so they reverted it to a game reserve.” Giving indication that the Cross River State Government could adopt the Yankari model, Orji said as it concerns the Cross River National Park, the constitution which is the supreme law of the land empowers the state

Ekiti State Governor, Mr. Ayodele Fayose, has allayed the fears that the current crisis rocking his party, the Peoples Democratic Party (PDP), will affect the chances of its candidate in next year’s governorship election in the state. This is just as the governor said Senator Ali Modi Sheriff and his group would never be able to inherit the PDP illegally. However, an Ekiti State-based socio-political pressure group, The True Face of Ekiti (TTFE), has promised to liaise with the two major parties in the state, the PDP and the All Progressives Congress (APC) to ensure that credible people emerged as the governorship candidates during the 2018 governorship poll. The group, with over 200 members lamented the decadence in the moral and ethical values of Ekiti people, saying most of the bad leaders being produced in the country came into being through alleged compromise of political parties, who fondly fielded charlatans as candidates. In a statement yesterday by the governor’s Chief Press Secretary,

Mr. Idowu Adelusi, the governor, who is also the Chairman, PDP Governors’ Forum, appealed to PDP members across the country not to be moved by Friday’s judgment by the Court of Appeal, Port Harcourt, Rivers State, adding that the Supreme Court would take another look at the matter. Fayose described Sheriff’s Friday’s victory as one that would not last, saying whoever celebrated it only celebrated nonsense. “Sheriff and his gang are only day dreaming. On our side are the governors, members of the Board of Trustees (BoT), the National Assembly caucus, former public office holders, party supporters in the grassroots. If they think they can inherit the party illegally, that is a pipe dream. Those planning to invade the PDP secretariat here should be warned. They must not toy with fire. “I received a lot of calls from people over Friday’s judgment and the possibility of the development affecting our candidate here in 2018 poll. I want to assure you all that what they did in Edo and Ondo States cannot happen here. We are still under the leadership of the Senator Ahmed Markafi-led

National Caretaker Committee and we are taking the matter to the Supreme Court. “Remember that when we got a judgment from the Federal High Court in Port Harcourt declaring Sheriff’s claim to the leadership of the party illegal, null and void, Sheriff and his group were still going about parading themselves as leaders of the party. “This is because they know that the judgment of the high court is not the last on the matter. So also the appellate court judgment of Friday is not the final on the issue.

The Supreme Court is there and is the apex court in the country and we are taking the matter there. “As for the chances of our candidate in next year’s poll. God is giving us an expected end and that is victory over the All Progressives Congress (APC) and their cohorts. Three things are critical to winning election namely, the people, the party and the candidate. Of these three, the people are the most important and those that are with us are more than those that are with our opponents.

Lalong’s Deputy Chief of Staff Slumps, Dies Seriki Adinoyi in Jos Yusuf Gambo Hawaja, the Deputy Chief of Staff to the Plateau State Governor, Simon Lalong, is dead. He died yesterday at the Bingham University Teaching Hospital (BhUTH) in Jos, the state capital. Hawaja, it was gathered, has been suffering from an undisclosed ailment for a while and had

slumped in his house yesterday morning. He was immediately rushed to the hospital, where he eventually died. A lawyer in his chamber, who pleaded anonymity, confirmed the news. Sympathisers were also seen trooping in and out of the residence of the deceased on yesterday afternoon.

MONDAY FEBRUARY 20, 2017 ˾ T H I S D AY

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Anyaoku: Wike Deserves The Sun Award Plans to blackmail governor failed, Rivers’ elders allege Ugo Aliogo Former Secretary General of the Comminwealth, Chief Emeka Anyaoku, has declared that Rivers State Governor, Nyesom Ezenwo Wike deserves The Sun Governor of the Year 2016 award because of his outstanding performance. Presenting the award to Wike in Lagos at the weekend in Lagos, Anyaoku applauded the governor for placing development projects on the priority list of his government.

He said: “This is clearly a most deserving award. Wike has been in the news for good reasons. We know Wike is working. I learnt that his nickname is Mr. Projects. “I have been asking questions and I was told the number of projects that he has executed in Rivers State. And I did ask him while we sat together, how he was able to raise funds for all these projects “He told me that he manages to do all these projects through

House C’ttee Begins Probe of Amnesty Programme Summons Alaibe, Kuku, 354 firms Damilola Oyedele in Abuja The House of Representatives Joint Committee on Public Procurement and Niger Delta Affairs has opened investigations into alleged abuses and violations of the procurement process by officials of the Presidential Amnesty Programme (PAP) from 2011 to 2015. The investigative hearing begins today. The committee has summoned the first presidential adviser/ coordinator of the programme, Mr. Timi Alaibe, and his successor, Mr. Kingsley Kuku, along sides representatives of 354 companies, who were contractors to the programme. Some of the firms include Deep Water Pipeline Services. Nig. Ltd, KDI Oil and Gas, Century Energy Services Ltd, Clear Vision Global Links, Merryl Fynch Ltd, Crystal Strategies Nig. Ltd, and Infrastructure Development Systems and Logistics Ltd.

Also expected to appear before the committee is the current Special Adviser to the President on Niger Delta/Coordinator Amnesty Programme, Brigadier General Paul Boroh (rtd) and bankers to the programme. The committee, chaired by Hon. Oluwole Oke and Hon. Ekpenyong Essien, also summoned the officials of the Niger Delta Development Commission (NDDC), Ministry of Niger Delta Affairs, Bureau of Public Procurement (BPE), Central Bank of Nigeria (CBN), current and former Directors of Procurement, Finance and Audit in the Presidential Amnesty Programme. The joint committee noted that it had already received memoranda on the subject matter of the investigation concerned Stakeholders, government agencies, Banks, organisations, and the public. “…And in furtherance of its investigation, resolved to conduct a Public Hearing to ensure fair hearing and input from all concerned,” it said.

prudent management. Today, it gives me great pleasure to hand over this award to a most deserving awardee.” Speaking on the award given to Wike, Senate Minority Leader, Senator Godswill Akpabio, expressed happiness that the governor is getting global acclaim for his outstanding delivery of projects. Akpabio said: “My advise to Wike is that he should continue with his good works. He should keep the pace. Today, Wike is identified with progress. He is committed to delivering projects to the good people of Rivers State and he has remained focused despite the distractions. “Your Excellency, the world is praying for you, Nigerians are praying for you. Despite the distractions, despite the negative propaganda, you have remained focused. I urge the good people of Rivers State to continue to support you.” The Chairman of the House of Representatives Committee on Banking and Currency, Mr. Jones Onyereri said Wike has set the right example for other governors to follow. He noted that such high level performance will attract more members to the party. Responding during a reception held in his honour in Lagos, Wike assured the people of the state that the tempo of projects delivery will be stepped up. He said he would continue to count on the support of the people , pointing out that he will never disappoint them. The governor said: “Without the support of the people, I wouldn’t have been governor. Based on projects, we will continue to win this award because we have increased the tempo of projects

SHERIFF STANDS REJECTED AS PDP CHAIRMAN, SAYS IHEDIOHA and Makarfi. “Sheriff is nothing but a traitor who is biting the fingers that fed him. Fayose is one million times the man he is. As a matter of fact so are almost all the governors and other party leaders. Sheriff comes nowhere near any of us in any shape or form. “Only a blind, deaf and dumb simpleton or prancing village idiot would line up behind a man with such filthy and evil antecedents. This is a man whose fundamental purpose and ambition in life is to sell the PDP down the river and to help the ruling APC and the Muhammadu Buhari government to destroy us and win the presidential election in 2019,” he said. Meanwhile, members of staff of the PDP have reaffirmed their support for the Makarfi-led National Caretaker Committee despite the decision of the Appeal Court recognising Sheriff as national chairman The staff described last Friday’s ruling by the Appeal Court in Port Harcourt, as shocking. In a statement issued by the Secretary of the PDP Welfare Forum, Hon. Dan Ochu-Baiye, the judgment has “invariably lengthened the vagaries of the leadership issues in the Party rather than providing lasting solutions which was the expectation of all well meaning Nigerians”. He said there is a growing belief that the ruling Party, the APC has

everything to do with the lingering issues in the PDP. “As staffers of the PDP and as stakeholders in the overall success in the PDP, we wish to state without any ambiguity that, our loyalty and support remains with the Makarfi led National Caretaker Committee of the party. “While the leadership of the party awaits the decision of the national stakeholders of the PDP that are meeting today at the International Conference Center, Abuja, to review the development; the staffers of the PDP will continue to work with the current leadership of the party under Makarfi. The statement said the forum is urging all the organs of the party to use all constitutional means to resolve this matter once and for all in the interest of the larger whole and for peace to reign in the party. “In the event that the party appeals the Port Harcourt Appeal Court judgment to the Supreme Court, we wish to call on the Judiciary to once again save our democracy and dispense judgment within a reasonable time frame to allow the PDP prepare for the 2019 general election and for a balanced democracy,” it said. However, Sheriff yesterday visited former military President, General Ibrahim Babangida (rtd) at his Minna Uphill residence where he briefed him on the decision of the Port Harcourt Court of Appeal

on the lingering crisis in the party. Sheriff was accompanied to Babandiga’s residence by a former Niger State Governor, Dr. Muazu Babangida Aliyu, and some PDP members loyal to his faction. The meeting between Sheriff and the former military president lasted for about 45 minutes after which the former Niger State governor left the the duo. After about 15 minutes, Sheriff emerged from the house and briefly spoke with journalists during which he said he briefed the former Nigerian leader on development “in our party.” He said: “I told him what we are doing to put the party back on track. “IBB is our father, during our meeting, he said he is happy with my statement after the court ruling. “He told me to continue that way so that I can bring everybody back together to make the party a formidable opposition party.” Sheriff said what the PDP would do now was to “is to put the party back on track so that everyone that is aggrieved is brought back as one united family. United we stand, divided we fall.” The PDP chairman said he had reached out to Makarfi during which he urged him to join in the rebuilding of the party. Sheriff restated his belief that the Port Harcourt judgment was victory for all.

execution. “I am always thinking of projects. When I talk with my wife, I talk projects. When she cooks for me, she cooks projects. My wife has made today possible be giving me the desired peace at home, so I can concentrate on building a New Rivers State. “When you have the entire political class in your state supporting you, you have no excuse than to perform. This award is a challenge to us to continue to perform.” The reception held in honour of Wike after his enthronement as Sun Governor of the Year 2016 was attended by members of the National Assembly, former governors, Meanwhile, a socio-political group, Rivers Elders Consultative Council, alleged that plans by the Minister of Transportation, Chibuike Rotimi Amaechi, to blackmail the Wike, has failed. Speaking with THISDAY in Lagos yesterday, the elders said Amaechi was to take advantage of the burial of the late state Commissioner of Police to address a press conference to blackmail Wike and also misrepresent the security situation in state. The Executive Secretary of the elders’ council, Chief Granville Abiye Georgewill, who said he was speaking on behalf of the group, described Amaechi’s planned press conference targeted

to discredit Wike as childish and petty. “It is worrisome that, in spite of the efforts of the government and people of the state to work together for a united, peaceful and progressive Rivers State, Amaechi is permanently and continuously hatching and promoting divisive tendencies, and deep seated hatred against Wike, who has in the past one and a half years shown capacity in governance, and above all love to all persons, irrespective of political affiliations, in order to promote unity and foster development in the state,” he said. The elders, who further recalled how during the state visit of Acting President Yemi Osinbajo a few days ago, Amaechi had organised a parallel stakeholders meeting after the entire state had honoured the visiting acting president, urged the minister to reconsider his ways and shun the tendency to pull down fellow Rivers people who are making meaningful contributions to the development of the state. They also reminded him that the state expects a lot from him and the All Progressive Congress (APC)-led federal government, advising him to focus on how to advance the cause of development in the state and stop chasing the shadows of Wlke. The elders further warned that the peace loving people

of Rivers State will no longer tolerate what the statement described as deliberate acts of sabotage against the interests of the government and people of the state from anyone, no matter how highly placed, maintaining that “as enough is enough.” Also reacting, a civic society activist, Sampson Kole, came hard on Amaechi, describing him as a vindictive man, who has no reason to envy Wike because he was a recipient of the same SUN award in recent past. In another development, Rivers Support Initiative has reacted to the allegation by Amaechi that the governor hired150 rooms in Eko Hotel for guests during the award ceremony in Lagos at the weekend. In a statement in Port Harcourt and signed by the Secretary-General of the group, Mr. Collins Enyinda, he condemned the minister’s new antics of permanently attacking Wike. Enyinda described the attitude of the minister as not only unacceptable to the people of the state but distracting the governor whom he said is performing. “How can a person wake up to the figment of his imagination to raise such unfounded accusation?” the group wondered. “Our people will no longer tolerate a man who has since abandoned his people without even a hurt in his village,” he said.

MONDAY FEBRUARY 20, 2017 ˾ T H I S D AY

NEWSEXTRA

African Underdevelopment will Continue, Says US Envoy A development economist, Mr. Brian Browne, has said the economic underdevelopment of Africa and third world nations in general, will continue until there is a change in the economic design of the world, which he said, was deliberately made to keep poor

nations down. He said this at the 90th birthday lecture in honour of Professor Adetowun Ogunsheye, the first woman professor in Nigeria and the first African woman to graduate from the Ivy-league University of Cambridge, held in Ibadan, Oyo

New Ondo Monarch Gets Staff of Office James Sowole in Akure Amid jubilation and praises of the new monarch, the Olowa of Igbara-Oke in Ifedore Local Government Area of Ondo State, Oba Francis Adefarakanmi Agbede, Ogidi III, was at the weekend presented with the staff of office by the Ondo State Government. The presentation of the instrument of office was done within the premises of his alma matter, Anglican Grammar School, Igbara-Oke, at a ceremony witnessed by some traditional rulers from within and outside the state. The ceremony was sequel to the election of Agbede by eight out of the nine kingmakers of the agrarian community and subsequent approval by the state executive council. In his welcome address, the Chairman of Igbara-Oke Development Council, Mr. Siji Ijogun, said the monarch had done a lot for the community in the last 10 years. Ijogun said Adefarakanmi’s choice was in line with the popular saying that one’s previous performance and character is a major factor when considering somebody for chieftaincy title. He noted therefore that the kingmakers and the entire community had made the right choice because the new monarch had touched many lives and that was make the people too be happy. While presenting the new monarch to the people, the head

of the kingmakers and Sapetu of Igbara-Oke, Chief Joseph Olofin, said commended the people of the town for giving them the opportunities to select an acceptable person as an oba for the town. Presenting the staff of office, the Governor of Ondo State, Dr. Olusegun Mimiko, said approval of the memo on the selection of the monarch by the state executive council was in line with the decision of administration not to meddle in the selection of any oba. Mimiko, who was represented by his deputy, Alhaji Lasisi Oluboyo, said the endorsement of Adefarakanmi by eight out of nine kingmakers and the joyous atmosphere since his emergence, showed that his choice was acceptable to the people of the town. The governor said the fact that the new monarch had been living among the people for more than a decade, would be an added advantage for the people and the community unlike in some situation when some towns when somebody who had not been g among the people is just brought to become the king. He cleared the government from the insinuations that the selection was based on the fact that the outgoing administration which is winding up, was desperate to install an oba. He expressed optimism that whatever is done right irrespective of any insinuation would stand the test of time even after the current administration leaves office.

#BreakFree Flashmob Surprises Shoppers at Ikeja Mall It was such a spectacle at the Ikeja City Mall last Friday, when dozens of young people orchestrated a flash mob with a ‘BreakFree’ message, urging shoppers to break free from situations that limit them from actualizing their full potential. The campaigners who wore shirts with the inscription: #BreakFree, held many people spellbound as shoppers stood to watch in amazement. There was dancing, singing, and some comic display while the spectators, who were thoroughly entertained, took photographs and recorded video clips with their mobile devices. It remains unknown what the #BreakFree campaign is all about, many who witnessed the show said they believed it must be associated with something revolutionary, which they look forward to. “This is very inspirational. They are motivating us to break free from

things that hold us bound. So it’s a good message. I just don’t know who is behind this and what they want to achieve but they have entertained us and challenged us to break free. I’m going to sit down and think deeply to identify the things I need to break free from in order to live a life fulfilling life,” Deborah Adetutu, who came to shop at the mall, said. When asked, one of the campaigners, Collins Abudu, said the #BreakFree campaign is aimed at empowering Nigerians to live in freedom, having the power to make their choices in life. “This is about encouraging Nigerians to live outside the box and explore the various opportunities that they have in life.” he said. The unique flashmob has since gone viral after it was published on social media.

State at the weekend and organised by Ogunsheye’s collegues in Atayese, a Yoruba organisation that believes in the redirection of the lot of the people in Nigeria. According to Brianne in the lecture he entitled: ‘What will save us from the injustice of mainstream economics?’, only a conscious effort by these nations can change the wrongs that have “relegated so much of humanity to poverty and despair.” Brianne, a columnist with The Nation Newspaper, a career diplomat whose last African posting was United States Consul General to Nigeria, co-authored the famous book, Financialism, with the leader of the All Progressives Congress (APC) Bola Tinubu, which is an expose on how misleading conventional economic thinking can lead to bad policy decisions and underdevelopment using examples from the US and Nigeria. Explaining the nature of the financial and economic crises that he said had bedeviled poor nations of the world, Brianne said the system was such that the poor nations

were held down in all respect. “Ten of the world’s richest people hold more wealth than the 3.6 billion people who constitute the poorest half of humanity. The world produces more food than at any point in history yet one in every ten people struggle against dire poverty and imminent hunger. Meanwhile, tons of edible food are discarded and burned on a daily basis. “Affluent people have amassed so much wealth that they can afford to visit outer space in their own craft. Yet, billions of people live as their distant ancestors did, using the same rudimentary farm implements to till barren soil and eke out a hard scratch existence. The cell phones that have pierced into these areas are but trinkets to gull people into believing they are of the modern world when that world has left them far behind,” he said. According to him, it is only a conscious understanding of the nature of the underdevelopment that can break the cycle of want and poverty. “Try as they might, African

nations cannot break the hold that poverty and rich nations have on them. African nations have basically done as told by the economic masters. You opened your markets to free trade. Instead of benefiting, you lost the small control you had over your economic life. You integrated into their financial system and banks like them. The more banks you build, the more you fall into debt that takes you farther from the development you want,” he said. In his own words, the Chairman of the occasion, Chief Tokunbo Ajasin, said that Atayese recognised the contributions of Ogunsheye and thought it wise to celebrate her on the attainment of such a significant age and enjoined Yoruba to come to terms with the objectives of the organisation. “Our main objective within Yoruba land is to advocate the establishment of good governance, uphold the Omoluabi ethos in Yorubaland while re-enacting and improving on the modernisation scheme started by our revered forebears in the latter half of the

fifties. Ever since Nigeria attained independence in 1960, the Yoruba nation and indeed Nigeria has practically gone to sleep. “Before independence, we had a common goal in getting rid of the colonialists, but unfortunately, having gotten rid of the foreign oppressors, our leaders relapsed and themselves became worse oppressors, particularly with the advent of the military in governance. We had thought that with the institution of democracy, the situation would change. But rather than being ameliorated, the situation has gotten worse by the day,” he said. He bemoaned the state of the Nigerian economy which he said had been “so bastardised, pulverised and looted to the extent that over 80 per cent of Nigerians now live below the poverty line” stating that his Yoruba organisation, the Atayese, “believes that now more than ever is the time to think out of the box. We cannot continue to do things the same way over the years and expect a different result.”

ROYAL VISIT

FormerVicePresident,AlhajiAtikuAbubakar,andtheAlaafinofOyo,ObaLamidiOlayiwolaAdeyemi,whentheAlaafinpaidacourtesyvisitontheformer vice-presidentinLagos....yesterday

19 Nigerian Academics Conduct Research in Shell Sabbatical Programme A total of 19 academics from different universities in Nigeria have begun research attachments in several fields of study in the latest phase of the sabbatical and internship programme of The Shell Petroleum Development Company Nigeria Limited (SPDC) Joint Venture, which was introduced in 1980. According to a statement by Shell’s spokesperson in Nigeria, Mr. Bamidele Odugbesan, the eight professors and 11 research interns commenced their programmes in January 2017, seeking to build industry knowledge and understanding in such fields as biodiversity, petroleum engineering, geophysics, impact assessment, community health and oil and gas exploration. It said the recipients are from the University of Benin, University

of Ibadan, Niger Delta University, University of Ilorin, University of Lagos, Ladoke Akintola University of Technology, Ahmadu Bello University, Michael Okpara University of Agriculture, University of Calabar and University of Nigeria, Nsukka. The statement quoted Shell’s General Manager, External Relations I go Weli as saying: “Our research and internship programmes is a key aspect of our effort to contribute to the development of higher education in Nigeria. “It is a mutually beneficial relationship. SPDC obtains specialised and cost-effective services from the professors and senior lecturers, while they in turn acquire industry experience and exposure to new technologies that can be ploughed back to the university community.”

Shell said for a period of one year, the professors on sabbatical would conduct research in identified areas and share their findings with SPDC. Part of the internship programme, it added, involves Master’s degree students who are also offered oneyear placements to acquire work experience in SPDC. According to the firm, the other set of internships are from the Shell Centre of Excellence at the University of Benin who would spend six months, enabling them to gain critical working experience and be exposed to Shell’s working culture and ethics. It also stated that recruitment for sabbatical and research internship scheme begins with advertisements in national and local newspapers in March with interviews in July each year.

Shell companies in Nigeria have a long history of supporting education through scholarships and other initiatives, while also helping to build capacity in key technical skills, for example donating equipment to universities to develop capability in the production of drilling mud. Ten graduate scholarships are also awarded annually to students from Rivers, Bayelsa and Delta States to study engineering and geosciences at top universities in the United Kingdom, building a talent pipeline within host communities. In addition, 40 engineering and geosciences graduates receive hands-on training through a one-year internship programme organised by the SPDC JV and the Petroleum Technology Association of Nigeria, a group of indigenous oilfield service companies.

MONDAY FEBRUARY 20, 2017 ˾ T H I S D AY

NEWSEXTRA

Fashola Blames Pipeline Vandalism for Power Supply Constraints Adibe Emenyonu in Benin City The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has said that the power generation in the country has risen to 4,000MW for two weeks and could increase to 7,000MW if vandalism of gas pipelines are stopped. He noted that 3,000MW of electricity is not available because of vandalism of gas pipelines, which is not helpful to the country, adding that the major challenge facing the electricity sector was shortage of gas to power gas turbines.

Fashola who stated this while inspecting the progress of work at the Benin-Ehor axis of Benin-AuchiOkene-Lokoja dual carriageway in Benin City at the weekend, declared: “If we can recover the 3,000MW lost to vandalism and add to the 4,000MW, we will have 7,000MW. “We cannot continue to destroy something and say it is unavailable to us, all of us most begin to speak to each other and sensitise against vandalism.” While inspecting the road, Fashola briefed the Edo State governor, Mr. Godwin Obaseki of his inspection tour on roads

leading into and out of the state. He said plans were also in the making to rehabilitate the bad portions at the Ekpoma axis of the same road. Speaking further, the minister noted that full reconstruction of the bad portion would be carried out to ensure durability of the road. “I have gotten recommendations about the fail portions of the Ekpoma axis of the road. I have asked them to get money for the contractor to do full reconstruction of the bad portions, instead of patching it up, which will wear away soon. As soon as we get

money, the contractor will come back to site”, he said. Meanwhile, the governor, represented by his deputy, Hon Philip Shaibu commended the minister for the inspection tour, saying that it would ensure good quality and speedy completion of the road project. He, however, called for prompt action to be taken at the bad portions of the road around the Auchi junction at Jattu, Ekpoma axis and Ramat Park in order to prevent total collapse of the road. Moreover, he also commended the ministry for its housing

programme in the state. In addition, the Federal Controller of works, Okey Oweh, speaking about the Benin-EhorLokoja road explained that the road’s contract was awarded in 2012 and divided into three phases. He said a 12 km carriage way had been constructed along the Auchi axis of the road and that the accident-prone section at Ewu -axis of the road had been improved upon. He said the contractor handling the road would complete the Benin-Ehor axis of the road by

May ending and work on the Ewu-Agbor-Sapele road had started. He also said 445 staff drawn from within and outside the state were currently working with the contractors on the road project. Meanwhile, the Controller of Housing in the state, Mr Andrew Ikechucku, said that the national housing programme for the ministry had commenced in the state. He said the state government had provided a land around the Benin-Auchi road and that clearing of the land was on-going.

Ambode: Prayers Have Shielded Lagos from Recession Gboyega Akinsanmi Lagos State Governor, Mr. Akinwunmi Ambode, at the weekend acknowledged that the collective prayers of saints have preserved the state from economic recession and internal conflict. Ambode therefore, asked all Christians to continue to make conscious efforts to sustain the peaceful atmosphere across Nigeria, urging them to refrain from acts that could breed division and conflict. He acknowledged the power of collective prayer at an inter-denominational service the Christian Association of Nigeria (CAN) organised at the Shepherdhill Baptist Church, Obanikoro. Also, at the inter-denominational service were Wife of Lagos State Governor, Mrs. Bolanle Ambode, Chairman of Lagos CAN, Apostle Alexander Bamgbola, Primate of First African Church Mission, Rev. Sunday Matilukuro and Secretary of Lagos CAN, Dr. Israel Akinadewo, among others. At the service, the governor noted that he was absolutely convinced that the success stories his administration “has recorded so far were made possible by the collective prayers of all Lagos residents.” He added that the prayers of faith had preserved the state from economic recession and more importantly had helped achieve the relatively peaceful atmosphere that the state “has been enjoying.”

He said: “Every situation, whether good or bad, requires prayers. For us in Lagos State, we have been truly blessed. Indeed, we have enjoyed God’s grace which has enabled us as a state, to experience unprecedented breakthroughs inspite of economic recession. “For instance, a lot of investments and new businesses have come into our state in the last 21 months. Aside, there are many more in the process. It is purely by God’s grace,” he explained. Ambode, thus, urged Christians “to lead from the front and continue to pray for not just the progress of Lagos, but Nigeria at large. Our government will continue to promote fairness, justice and everything that will make life more comfortable for Lagos residents. “At this critical period in the history of our nation, the church and indeed everyone who believes in the efficacy of prayer have a responsibility and patriotic duty to pray for the progress of Lagos and Nigeria. Prayer is the master key and there is no challenge that cannot be surmounted with prayers. “We remain committed to the goal of making the Lagos work for all; making all our communities economically viable and liveable as well as creating opportunities for everyone to actualise his/her potentials, without discrimination on the basis of ethnic affiliation, religious beliefs or socio- economic circumstances.”

UNILAG Alumni Seek Support for Annual Concert The University of Lagos (UNILAG) Alumni Association has urged distinguished alumni, individuals and corporate organisations to identify with its yearly campus concert tagged: ‘Edutainment Fiesta.’ The event, which during every convocation of the institution, provides the platform for the old students and new graduates to interact as well as showcase the social and academic identity of the university. Speaking at the occasion which was held recently on campus, the National President of the association, Olorogun Sonny Kuku, noted that the august gathering brings together alumni from the diverse sectors of the economy as evidenced in the array of personalities that graced the event.

According to him, “The Edutainment Fiesta is an annual concert created to acclaim the social and academic excellence the University of Lagos stands for. It is also a time to celebrate graduating students of the university and the university community at large. “This year, Nigerian artistes and comedians who graduated from the institution and their friends were invited to inspire and motivate the present students who attended the crowd-pulling event.” The well-attended event was produced and directed by a respected alumnus, Bunmi Davies and starred first-rated performers like Akpororo, Helen Paul, Omobaba, Mayokan, Harryson, Joel, Jaywon, among others.

CROSS RIVER IS WORKING

L-R: National Deputy Commandant (Administration), Peace Corps of Nigeria, Dr. Edet Bassey Ekpenyong; Cross River State Governor, Professor Ben Ayade and the State Commandant, Peace Corps of Nigeria, Patriarch Dominic Okweche, at the Cross River Garment Factory, assessing uniforms being produced for the corps...weekend

South-east APCVows to Win Anambra Guber Poll Christopher Isiguzo in Enugu The leadership of the All Progressives Congress (APC), in South-east zone at the weekend reaffirmed its readiness to win the forthcoming governorship election in Anambra State, even as it basked in the euphoria of registering over one million members in its ongoing reregistration in the zone. Rising from a one-day stakeholders’ meeting which at the Nike Lake Hotel in in Enugu. the party said with the calibre of political leaders that have joined the it fold including a serving senator in Anambra, Chief Andy Uba, former national and state assembly members, former governors as well as notable political leaders in the zone, it has become obvious that

the people of the South-east zone have finally embarced the now ruling party. In the communique issued at the weekend and signed by the National Vice Chairman, Southeast zone, Hon. Emma Eneukwu and Zonal Publicity Secretary, Hon Hyacinth Ngwu, the party also gave a strong a indication that it had started making in-roads in Enugu, Ebonyi and Abia States. The meeting which was chaired by Eneukwu, was attended by Governor Rochas Okorocha of Imo State, Dr. Ogbonnaya Onu, Minster for Science and Technology, Senator Chris Ngige, Minister for Labour and Employment, Senator Ken Nnamani, former Senate President, Senator Dr. Jim Nwobodo, Senator Osita Izunaso, National Organising Secretary, Chief Dr. George Moghalu, National Auditor, Senator Ifeanyi

Ararume, Senator Uche Ekwunife and Senator Fide Okoro. Also in attendsnce were Senator Nnamdi Eriobuna, Senator Emma Anosike, Senator Julius Ucha, Senator Anthony Agbo, Senator Emma Agboti, Senator Chris Nwankwo, Senator Nkechi Nwaogu, Hon. Agunwa Anaekwe, former Speaker House of Representatives, Dr. Anyim Nyerenye, Prof Onyebuchi Chukwu, former Minister for Health, Chief. Emeka Wogu former Minister for Labour and Productivity, among others. The party further requested for extension of the time allotted for the on-going continuous registration exercise of the party as well more materials from national leadership of the party, noting that more people were angling to join the party in the zone. “The zone requested from

the National Leadership for the provision of more materials and extension of the time allotted for the exercise. The South East APC is united and heartily welcomes all the prominent Igbo Politicians who recently joined the party. “The South-east Zonal Stakeholders pass a vote of confidence on the National , Zonal, various states, local governments, wards leadership of the party as constituted before the 2015 general election” the communiqué stated. The communique further stated that the stakeholders pledged to sustain the growth of the party in the zone and to commit the party to the enthronement of APC-led governments in Anambra State this 2017 and in Abia, Ebonyi and Enugu States come 2019 general election.

UNICAL Ex-Bursar Planning ‘Sponsored Protest’ against School Authority, Group Alleges Adedayo Akinwale in Abuja A group, the Centre for Social Justice, Equity and Transparency (CESJET), has alleged that the former Bursar of University of Calabar, Mr. Peter Agi, is mobilising fake protesters posing as students in order to cause mayhem in the school.

The Executive Director of the group, Joyce Adamu, disclosed this while addressing a press conference yesterday in Abuja. She said the planned protest might not be unconnected with the embattled former bursar who has remained bitter after being relieved of his post over corruption related charges.

According to her, “recent reports indicated that some persons are mobilising hoodlums for the purpose of posing as protesting students of the UNICAL to cause mayhem. “These fake protesters will then proceed to cause maximum damage to infrastructure at the university

while also attacking the genuine students if they should dare question the destruction of their institution.” Adamu stated: “He is a confused man who has soiled his hands with public funds and afraid of approaching equity since his hands are clean.

MONDAY FEBRUARY 20, 2017 ˾ T H I S D AY

CRIME&PUNISHMENT Five Dead as Lagos, Ogun Battle 50 Emergencies in Three Days Chiemelie Ezeobi Not less than five persons died in a space of three days as over 50 emergencies rocked Lagos and Ogun States and overstretched the capabilities of emergency responders drawn from both the state and federal governments. Beginning from a luxurious bus crashing into the Owode River in Ikorodu, to a car skidding into the Lagoon, to different fire disasters and car explosions, the weekend was certainly one to remember. Confirming the incidents to THISDAY, the South-west National Emergency Management Agency (NEMA) spokesperson, Ibrahim Farinloye, said emergency responders worked hard to attend to each incident. He said: “Emergency agencies in Ogun and Lagos States have attended to about 50 different disasters between Friday and yesterday’s fire outbreak at the Rida National Plastic Company, Oshodi, Lagos. “There was a car explosion in Abeokuta, a wild bush fire at Ipokia, Ogun State and different fire outbreaks across the states. Five deaths have been recorded so far in all the incidents. “Nigerians, especially private sector company owners and tanker drivers are seriously being implored to take safety seriously and guide against unsafe practices as the new phase of dry season is coming up. “Parents and schools should educate children and the elderly to know basic unsafe actions, in a bid to raise awareness for prevention.” Some of the incidents across the states includes the bus mishap that happened on Friday where three

persons died and 23 others were injured after a GUO bus plunged into the Majidun River at Owode Elede area of Ikorodu, Lagos. The bus with registration number Anambra GDD 386 YE was said to have been en route Maza Maza, Lagos from Aba, Abia State, when it skidded off its track while on top speed and plunged into the Canal at Owode Elede, before Mile 12, Ikorodu Road. The bus with 59 passengers on board had 23 people injured and were treated on the spot by a joint team of Lagos State Emergency Management Agency (LASEMA) and Lagos State Ambulance Services (LASAMBUS) paramedics. On Saturday night at about 7.47p.m., a car with three passengers plunged into Mekwe River, near Bonny Camp, Victoria Island, where the river is the most turbulent spot in the whole of West Africa. While the man survived, his wife and child were however not so lucky as they were brought out dead from the Ultima Kia saloon car with registration number MUS 38 BL. Confirming the incident, The General Manager LASEMA, Mr. Adesina Tiamiyu, said the agency received the distress call and responded accordingly. He said: “Preliminary investigation conducted by the agency’s Emergency Response Team (ERT) revealed that the car plunged into the lagoon, with the driver identified as Felix Aniele swimming out to the river bank. “However, the other occupant a female identified as Chinagorom Adibe Fustine, was trapped and

Police Nab Serial ATM Robber Chiemelie Ezeobi A serial ATM armed robber, Gbenga Babatunde, was yesterday arrested by operatives of Rapid Response Squad (RRS) of the Lagos State Police Command, for targeting ATM users and robbing them. The 35-year-old, has since confessed to have robbed about 35 ATM users in Alaba Rago Market, Ojo area of Lagos before his arrest. The suspect was finally arrested after a failed bid to rob a lady who withdrew an unspecified amount of money around 5:48a.m. at an ATM point in Alaba Rago Market. After the operatives, who were on routine patrol in the area gave the robber a chase, he was arrested and a cut-to-size locally made short gun with two life cartridges were recovered from him. It was gathered that the suspect, was not operating alone, as he had an accomplice, one Samson Baba Ramadan, 28, who managed to escape after the botched operation. Upon his arrival at the RRS’s Headquarters in Alausa, the suspect who owned up to the crime, said that his accomplice, now on the run, introduced him to the life of crime. He said: “I have been in crime since I met my colleague, Samson Baba Ramadan. I met him at Field Joint, Alaba, two years ago and since then we have been working together.

“We have robbed about 35 people together. Our modus operandi is that by 4a.m, we would have gotten to the ATM centre and then hide inside the shop that is not open beside the ATM point. “As soon as the customer collects the money, we accost them and collect the money and escape. The last money we collected was N40, 000. Yesterday, we collected N12, 500. “We have always been successful until this morning when we wanted to collect money from a lady but she ran away. “We thought she had gone, not knowing that she went to inform RRS operatives. This was around 5a.m. They pursued us and arrested me but my partner escaped.” Also recovered from the suspect were a First Bank mastercard belonging to one Iweka Christopher Uchenna and a Diamond Bank debit card owned by Nkechi Esther Idoko. The state police spokesperson, Dolapo Badmos, who confirmed the arrest, said the state command would leave no stone unturned towards ensuring that suspected criminals are brought to justice. The case has been transferred to State Criminal Investigation Department (SCID), Panti, Yaba, for further investigation and prosecution.

drowned with the car in the Lagoon. “Emergency responders assisted by the local divers were able to recover the car from the Lagoon and consequently the dead body from the recovered car. “The car has since been towed to Bar Beach Police Station, while the dead body has been deposited at the Mainland Hospital Mortuary.” On the different fire incidents across the state, the Lagos State Fire Service Director, Rasaq Fadipe, said his team was on ground to battle the flames. He said: “The 19th emergency call of the last 24hrs was from a

tanker fully loaded with PMS, which lost control while on motion and fell by Totowu Riverside at Isuti Road, Egan, Igando. “The tanker fell on a bus and one person died while others were rescued. The fire service were deployed to prevent the flames from spreading.” “The tanker spilt its fuel into the stream and thus, there was need to inform those that live in Igando, Iba town, Agbara and Igbesa etc to avoid naked flames for now. “Another fire outbreak was recorded at Ogbogbo Sawmill and another one at the CSS Bookshop house, opposite CMS church.

“We also recorded another outbreak of fire at Samchase Nigeria Limited, at plot 25, Isolo Industrial Estate and another fire incident at Gbagada General Hospital. “Another fire outbreak occurred at 17 Rauf Williams Street, Surulere and yet another one opposite Diamond Bank by old NEPAbridge where shops were gutted by fire.” And just yesterday, another fire was recorded Rida Plastic Company, along the Oshodi Expressway, near LASTMA office. LASEMA GM, who also confirmed the incident said the fire was very severe and fire fighters from various units and

organisations were drawn to battle the flames. He said: “Fire outbreak at Rida Plastic industry, Oshodi Apapa expressway, Barack bus stop, was battled by fire fighters from the Lagos State Fire Service and LASEMA Response Unit Fire Fighters. “We also had fire fighters from Julius Berger Fire Service, Chivita, NEMA, LASTMA and military personnel from Ikeja Cantonment were also on ground. “For now, the fire has been contained from spreading to the military cantonment and other factories around the area but damping is still ongoing.”

ARSON

Osun State Governor, Rauf Aregbesola (middle); Chief Judge of the state, Justice Oyebola Adepele Ojo (left); and Secretary to the State Government, Alhaji Moshood Adeoti, during the assessment visit to the premises of the state High Court which was allegedly set ablaze by hoodlums in Ilesa...weekend

Epe Farmers Raise the Alarm over Incessant Kidnapping To stage a protest today Chiemelie Ezeobi Local farmers at the Igbodu/Isiwo area of Epe in Lagos State yesterday raised the alarm over the incessant kidnap attempts targeted at them in the past few months. As at the last count, the aggrieved farmers said over 50 of their colleagues have fallen victims to the antics of the kidnappers, who only release them after the ransom demands have been met. In a bid to draw the attention of the state government to their plight, the farmers said they will

today protest to the state governor, Akinwunmi Ambode. In a statement by Ayokunle Ore, representing the Igbodu/Isiwo Road Farmers, the group said although they have engaged the police in the past, their response has been very poor. The statement read in part: “As you are mostly aware over the last couple of months, the Igbodu/ Isiwo farmers have been under attack by hoodlums. “They have successfully kidnapped at different times over 50 people and counting and only

release them after payment of huge ransoms by the family members. “The most recent was on February 14, 2017 when seven people were kidnapped from a poultry farm. “As we speak, they are yet to be released and the kidnappers are asking for a huge ransom for their release. “We have engaged the police and the response has been poor with minimal results as each attack by the hoodlums has been effortlessly successful. “On this note, we the farmers of

Igbodu/Isiwo Road are planning to have a peaceful protest at Alausa, in Ikeja on February 20, 2017 to make our grievances and helplessness known to the governor. “The Governor Ambode, who also happens to be an indigene of Epe, needs to come to our aid. “To make the right impact, we are imploring all our fellow farmers to join us for this cause on the said day. “Remember that most farms are usually located outside cities and if this trend is not immediately curbed it will spread.”

STF Intercepts Baby Factory Syndicate in Plateau Seriki Adinoyi in Jos The Special Task Force (STF) deployed to restore law and order in Plateau State at the weekend said it had intercepted a baby factory syndicate in the state. Speaking with journalists, the Commander of the task force, Major General Rogers

Nicholas, said: “The group specialises in producing babies and distributing them to other states in the country, adding that the group was intercepted after an intelligence report by the task force troops.” The commander said the group comprised of eight men and three women operating in Jos. He said: “During interrogation,

one of the suspects said the group has a network spread across the country and they usually entice unsuspecting young ladies with mouth-watering offers, and in other cases drug them with substances that lead to forced labour. “As investigations continue into the activities of the syndicate,

it is important for security outfits to extend its network across the states especially places where the babies are being sold, so as to apprehend those involved in the horrible crime.” The general also appealed to indigenes of the state to always report suspicious persons to security operatives at all times.

T H I S D AY MONDAY FEBRUARY 20, 2017

T H I S D AY ˾ MONDAY FEBRUARY 20, 2017

MONDAYSPORTS C A F

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

C O M P E T I T I O N S

Rangers, Rivers Utd Through to Next Round FC IfeanyiUbah, Wikki crash out Duro Ikhazuagbe Despite being forced to a barren draw by Algerian club, Jeunesse Sportive de Saoura at the Cathedral in Enugu yesterday, Nigerian league champions, Rangers International FC qualified for the next round of the CAF Champions League on away goal rule. The Flying Antelopes had drawn first leg 1-1 in Algeria a fortnight ago. They are scheduled to face Zamalek in the next round of the premier club competition in the continent. Nigeria’s other representative in this competition, Rivers United FC yesterday also sailed into the next round having comprehensively outplayed visiting Mali team,

CAF LEAGUE Rivers Utd 4-0 R’ Bamako Rangers 0-0 JS Saoura

CAF CONFED Wikki 1-0 RSLAF FC IfeanyiUbah 1-1 Al Masry (crash out 0-3 in penalty shootout)

NPFL RESULTS Plateau Utd 2-0 Tornadoes Abia Warriors0-1 El Kanemi Nasarawa 1-1 Sunshine Gombe 0-0 Akwa Utd Remo 1-1 Lobi Katsina Utd 1-1 3SC

Real Bamako at the Yakubu Gowon Stadium in Port Harcourt. United hammered Real Bamako 4-0 to book the ticket to the next round. Stanley Eguma’s men would have qualified with a goalless draw after a commendable draw in Bamako, but the Pride of Port Harcourt, fuelled by a thunderous home support subdued Pascal Pons’ team. Bernard Ovoke and Esosa Igbinoba masterminded the victory by getting on the scorers’ sheet twice in the keenly contested game. Sudan’s Al-Merreikh now poses as the next challenge for the Rivers State owned club to paddle its way to reaching the money spinning group stage. In the CAF Confederation Cup, Wikki Tourists of Bauchi bowed out of this year’s second tier competition. The Tourists were eliminated despite recording a 1-0 win against RSLAF FC of Sierra Leone at the Abubakar Tafawa Balewa Stadium in the Bauchi capital. Baba Ganaru’s team had suffered a 2-0 defeat at the Wusum Sports Stadium, Makeni last week and Mustapha Ibrahim’s lone strike in Bauchi was not enough to guarantee their passage to the first round stage. Wikki started the must-win encounter brightly with possessions but Abubakar

2 0 1 7 N PA L A G O S P O LO

Leighton Kings Emerge Open Cup Champions Lagos Leighton Kings emerged champions of the Open Cup by beating Lagos Lintex 11 - 5 as the first week of the 2017 NPA Lagos International Polo Tournament ended yesterday. Lagos STL 57 were the other winners of the day as they edged Ibadan Jericho 7 - 6 to win the Silver Cup in the first fixture. Ibrahim Musa Dantala was the match-winner for the home team in the 11-day two-phase tournament which has GTBank as main sponsor. For the Open Cup, which has former Lagos State Governor, Bola Tinubu and a host of other dignitaries among the spectators, Leighton Kings, formed by Bowale Jolaosho (0), Hassan Fayad (+1), Martin Juaregi (+4) and Santiago Cernadas (+6), opened scoring by Cernadas’ 30 yards penalty. Lintex, which featured Baba Dangote (+1), Bashir Dantata (+3), Halifa Ibrahim (+3) and Bello Buba (+4), threatened to score twice by Ibrahim who sent a long low-shot wide and beaten by the bounce as he breaks away. Cernadas got the Kings’ second goal just before the opening chukka winds up. Lintex’s captain, Dantata reduced the deficit connecting

a long shot from Buba midway into the second chukka but Cernadas converted his a 60-yarder with about a minute left to make scores 3-1. Jolaosho wrapped himself in glory scoring the fourth goal in the early moment of the third chukka as the game tilted further to Leighton Kings. Juaregi extended the lead to 5-1 before Fayad and Cernadas each scored to put daylight between them and their opponents who are falling short of ideas. At 7-1in the fourth chukka, the match was already won and lost as Cernadas went on a showboat spree to thrill the large crowd of polo aficionados. In the Silver Cup final, Tata Alikura (+2) won and converted a 30-yard penalty before Dantala (+2), who have been on top of his game all through the tournament, scored in the second minute to give STL 57 a 2 - 0 lead. Jericho responded through their hitman Umar. Umar, a two-goaler with over 30 years of playing experience tied the scores 2 - 2 as the game hot up. STL 57 completed by Lolu Agoro (-1), and Seyi Tinubu (-1), were made to trail for the first time in the tournament.

Suraj Sodiq of 3SC (right) and Obinna Kingsley Eleje of Katsina United battling for ball possession during the NPFL Match day 9 clash at the Karkanda Stadium in Katsina…yesterday lmc media Lawal missed an opportunity to put the host ahead from the spot in the opening 20 minutes. However, Ibrahim wasted no time firing the Bauchi based side in front in the 58th minute in the second stanza. In the last 15 minutes, Wikki

pressed hard for another goal in bid to drag the match into an extra-time but the visitors defended tirelessly to earn progress with a 2-1 aggregate win. The other Nigerian team in the CAF Confederation Cup,

FC IfeanyiUbah were kicked out (0-3 penalties) by Al-Masry of Egypt after both sides had ended their two-legged affair 1-1 aggregate. After much resilience, FC IfeanyiUbah lads caved in and conceded a 43rd minute goal

to cancel the goal deficit of the first leg last week in Onitsha. In the shootout after the 90 minutes of play, the Nigerian representatives failed to score in the first three kicks as against host, Al Masry who converted theirs.

Ambode Offers Lifeline to National Stadium in Lagos At last, life is about to return to the National Stadium complex in Lagos after a decade and half of abandoning the country’s prized sports edifice. At the weekend, Lagos State Governor, Akinwunmi Ambode, made the state’s intent known when he paid a condolence visit to the Minister of Youth and Sports, Solomon Dalung, at his residence in Abuja. “I will like to bring the National Stadium back to life. The last time a game was played at the National Stadium was in 2005. There is also the employment aspect of football and hosting of matches at the stadium. That

includes the jerseys, branding, mama put food vendors, the sign writers, the supporters, merchandising, and so on. We want to bring back the football culture of Lagos State to the National Stadium after its renovation,” Ambode revealed of his intent. Brimming with the new status of Lagos as one of the marathon destinations in the world, Ambode wants the city to regain its pride of place hosting Super Eagles matches again. In his remark, Dalung promised he will go through the proposal and act on it. “It is only fair that we hand over the stadium to Lagos State for renovation

since we’ve given to Enugu, Bauchi and Kaduna states stadia in their domain. “We were trying to drive a concession but Lagos State’s interest in the National Stadium is what we call an overriding interest which is based on equity. If Gov Ambode is interested in the National Stadium then the concession process is already abated” Dalung said gleefully. The minister noted that Nigerian football and its followership started going down when the National Stadium in Surulere ceased to host local and international matches. “No matter how strong your home team is, if you

don’t have a common ground where your teams play their big games, the environment counts a lot. Football has so many interests and since we lost the National Stadium Lagos, football started going down,” Dalung further observed. Ambode has since invited the minister for a joint working visit of the National Stadium with the Lagos State government to ascertain the level of decadence and to hold talks on the evaluation and the next line of action to take. The minister praised Lagos State for its successful hosting of the 2nd Lagos City Marathon.

FA C U P D R AW

Mourinho Returns to Stamford Bridge against Chelsea Jose Mourinho will have to get past former club Chelsea if FA Cup holders Manchester United are to keep their hopes of retaining the trophy alive following the quarterfinal draw yesterday. Giant-killers Lincoln – the first non-league side into the last-eight in over a century after beating Premier League

side Burnley on Saturday – could have a lucrative trip to Arsenal should the Gunners beat another non-league side Sutton tonight. Arsenal’s fellow north London side Tottenham will host another giant killer in Millwall, who ousted ailing champions Leicester from the competition on Saturday despite being down to 10

men. The other quarterfinal pitches struggling Premier League outfit Middlesbrough at home to the winner of the replay between Championship high-fliers Huddersfield and Pep Guardiola’s Manchester City. ‘Boro manager Aitor Karanka crossed swords with Guardiola when the

former was Real Madrid assistant manager and the latter in charge of Barcelona.

FA CUP Q’FINAL Chelsea v Man Utd M’brough v H’ﬁeld/Man City Tottenham v Millwall Sutton Utd/Arsenal/Lincoln (Ties to be played 10/13th March)

Monday February 20, 2017

UT H

& RE A S O

Price: N250

MISSILE Sheriff to Rumour Mongers “This is the first time I am making a statement since the Court of Appeal in Port-Harcourt made its pronouncement; but I have seen and read many stories purported to have come from me against leaders of the party. People should respect themselves and not create more problems for the party” –Former Borno state governor, Senator Ali Modu Sheriff warning rumour mongers to desist from putting words into his mouth during his first official statement after the Appeal Court in Port Harcourt reinstated him as the Peoples Democratic Party’s (PDP) authentic chairman.

FEMIFALANA GUEST COLUMNIST

Beko Ransome and the Right to Healthcare

r. Beko Ransome Kuti studied medicine at the University of Manchester while his brother Fela studied music at the Trinity College, University of London. As undergraduates in the United Kingdom, they took active part in the struggle for the decolonization of the African continent. Upon their return to Nigeria in the 60s, Beko worked briefly in the civil service before setting up his own clinic at Mushin, a stone’s throw from Fela’s Kalakuta Republic. His involvement in the Nigerian Medical Association (NMA) radicalized the erstwhile docile body. He was elected the Chairman of the Lagos Branch and later deputy President of the Nigerian Medical Association. He influenced the Nigerian Medical Association to compel government to fund the health sector in the 1980s. Not unexpectedly, he was victimized and detained on many occasions as he was always held vicariously liable for doctors’ industrial actions. Upon coming to the conclusion that the regular campaigns for individual comrades who were detained without trial by military dictators was not sufficient, Beko and his other allies decided to establish the Committee for the Defence of Human Rights (CDHR). As its first president he laid a solid foundation for the human rights body. He also led the Campaign for Democracy, a coalition of human rights and pro-democracy organisations, which effectively coordinated the campaign, which culminated in the termination of military rule. He was detained by the Buhari and Babangida regimes while the Sani Abacha junta jailed him. When we were detained in Kuje prison in 1992 and 1993 the late Chief Gani Fawehiinmi, SAN, was always advising Dr. Beko Ransome-kuti to stop smoking to avoid possible cancer of the lung. As predicted, Dr. Ransome-Kuti died of cancer of the lung at the age of 65. Strangely, Chief Fawehinmi too died of cancer of the lung at the age of 71. Both of them could have lived much longer if the country had efficient medical facilities. Now that Beko, Gani and other committed comrades are no longer with us, the greatest tribute that we can pay them is to rededicate ourselves to the struggle against underdevelopment and the re-colonization of Nigeria by imperialism. The progressive extraction of the civil society must quickly link up with the working class to arrest the on-going descent to anarchy and chaos by mobilizing Nigerians to take their political destiny in their own hands. This will require the urgent formation of a broad political movement of all progressive and democratic forces led by the labour movement.

Health Condition of Buhari Last year, President Muhammadu Buhari announced that he was proceeding on medical leave to treat an ear infection in the United Kingdom (UK). In line with Section 45 of the Constitution the President handed over power to the Vice President. The nation wished the President well but not a few Nigerians called on the federal government to fix the local hospitals. Although the President announced that he would undergo another medical check-up during a 10-day vacation in the UK, there have been wild speculations over his state of health. The leave has since been extended on the advice of the President’s doctors, fueling more speculations. Some mischievous people have rumored the death of the President. No doubt, a full disclosure of the President’s state of health would have put paid to the

Accordingly, the Freedom of Information Act should be amended to allow interested members of the public to obtain medical records of public officers.

The Right of Nigerians to Health

Adewole speculations but no law has been violated by the presidency. Indeed, Section 14 of the Freedom of Information Act excludes disclosure of the medical records of any citizen. However, there can therefore be no justification for the action of some irresponsible elements that have used the social media to announce the death of the President. However, this is not surprising since one of them had actually published an advertorial during the electioneering campaign wherein he predicted that the President would die in office! In the obituaries published daily in our newspapers, our loved ones usually die after a “brief illness”. Majority of African people were indeed surprised when the late President Mandela announced that his first son had died of HIV. When Fela Anikulapo-Kuti died of HIV in 1997, his children were strenuously opposed to the decision of his elder brother, Professor ‘Koye Ransome-kuti to announce the cause of the death. As he could not convince his nephews and nieces, the former minister of health assured them that he would not announce the cause of their father’s death but that of his own brother! Thus, at the press conference held by Professor Ransome-kuti at the Afrika Shrine at Ikeja, Lagos he tersely said, “Gentlemen of the press, I wish to disclose that my brother, Fela Anikulapo-kuti, who I loved dearly has just died of complications arising from HIV/AIDS.” Until the authoritative pronouncement of Professor Ransome-kuti majority of Nigerian youths never believed that HIV was real. Although the dangerous disease has claimed thousands of lives no other family has had the courage to emulate the example of Mandela and Ransome-kuti. Indeed, for many families who’s loved ones are killed by the disease or cancer, it is always a case of the “enemies have done their worst.” The same hypocrisy is demonstrated when people are sick. Hence, it is not uncommon for Nigerians to say that they are very strong when they are indisposed. Our religions and culture find a justification for promoting the superstitious belief that it is a taboo to disclose one’s state of health. Our experience as a nation calls for an amendment of the Constitution so that the medical reports on the state of health of contestants are submitted to the Independent National Electoral Commission. Having regard to the unprecedented scale of looting of the public treasury by the ruling class, the mental state of contestants ought to be examined by psychiatrists.

Instead of wasting precious time over the state of health of the President, we should join issues with the State over the parlous state of medical facilities in the country. In other words, the Nigerian people should take advantage of the President’s health to demand for the provision of adequate funds to fix our hospitals, which General Buhari and his colleagues described as consulting clinics in 1984. The President should be made to know that the consulting clinics have since become mortuaries for the masses. The practice of allowing poor citizens to die of preventable diseases while top public officers and rich private citizens are allowed to travel abroad for medical treatment can no longer be justified. In line with the letter and spirit of the National Health Act, 2014, public officers should no longer be permitted to travel abroad for medical treatment at public expense. Since Nigerian citizens have the right to health by the combined effects of section 17 of the Constitution and article 16 of the African Charter on Human and Peoples’ Rights Act, it is high time our medical facilities were fixed while drugs are made available and affordable. The usual excuse for not equipping our hospitals is that funds are not available. With due respect, it is a matter of priority and not poverty. The life span of an average Cuban is 79 years while ours is 52. Cuba is a very poor country but education and health are free for all citizens. The greatest killer disease in Africa is malaria. Not less than a million Africans are lost to malaria fever every year. But the scourge of malaria can be substantially eliminated if the leaders are prepared to muster the political will to ‘offend’ the manufacturers of anti-malaria drugs by acquiring the technology to destroy malaria. As far back as 1967, Cuba developed a vaccine, called larvicides that destroys malaria parasite instead of treating it. Cuba has also developed an anti-lung cancer vaccine called cimavax which is expected to arrive in the United States any moment from now. Yet, in solidarity with western-based drug manufacturing companies, our leaders are not prepared to collaborate with the Cubans in destroying malaria and combating cancer and other diseases. Owing to the struggle of Beko and other progressive people, the ruling class has reluctantly enacted the National Health Act, 2014. The Act broadly provides a comprehensive legal framework for the regulation, development and management of a national health care system and set standards for rendering health services in the federation. The Act has also established a Basic Health Care Provision Fund which shall be financed from the annual grant of not less than one percent (1%) of the consolidated revenue fund of the federal government; grants by international donors and funds from any other source. While all Nigerians are entitled to a basic minimum package of health services, the Minister of Health, in consultation with the National Council on Health, may prescribe conditions subject to which categories of persons may be eligible for exemption from payment for health care services at public health establishments. In determining persons who may be entitled to exemption from payment for health services in public health establishments, the minister shall have regard to “the needs of vulnerable groups such as women, children, older persons and persons

with disabilities.” However, the National Council on Health is under an obligation to “ensure that children between the ages of zero and five years and pregnant women are immunized with vaccines against infectious diseases.” Under the National Programme on Immunization Act, there is no limitation with respect to age as the government is required to effectively control, through immunization and the provision of vaccines the occurrence of certain deadly diseases such as tuberculosis, poliomyelitis, diphtheria, whooping cough, tetanus, neonatal tetanus, measles, diseases of women of child-bearing age and so on. The National Council on Health shall ensure the delivery of basic health services to the people of Nigeria and prioritize other health services that may be prescribed from time to time by the Minister of Health after consultation with the National Council on Health. The “basic minimum package” means the set of health services as may be prescribed from time to time by the Minister of Health after consultation with the National Council on Health. Without prejudice to the right of any Nigerian, no public officer shall be sponsored for medical check-up, investigation or treatment abroad at public expense except in exceptional cases on the recommendation and referral by the medical board and which recommendation or referral shall be duly approved by the Minister or the Commissioner of Health of the state as the case may be. It is pertinent to point out that a health care provider, health worker or health establishment shall not refuse a person emergency medical treatment for any reason whatsoever. Indeed, the penalty for refusing to attend to a person in emergency condition is a fine of 100,000.00 (one hundred thousand naira) or to imprisonment for a period not exceeding six months. Therefore, the demand for police report before treating people with gunshot wounds is illegal. Going by the letter and spirit of the act, it is indisputable that the right to health has been elevated to the level of justifiability as anyone denied of access to basic health has the unquestionable right to seek redress in court. If religiously implemented by the federal government, the act is going to tackle all preventable diseases including infant and maternal mortality. But the 1% contribution from the federal government consolidated revenue fund is totally inadequate in actualizing the right of the Nigerian people to basic health. Apart from recommending not less than 20% from the federal, state and local governments to fund the health sector, we call on the federal government to collaborate with the Cuban government in tacking and eliminating malaria fever, typhoid fever, meningitis and other preventable diseases. From the foregoing, I wish to state that the right to health cannot be realized without an effective health care delivery system. To actualize the right to health for the majority of citizens, the federal, state and local governments should be compelled to implement the National Health Insurance Act and the National Health Act, which have guaranteed access to good health care services to the Nigerian people. In addition, government should, as a matter of urgency, fix and equip all public hospitals and medical centres. Since Beko would have wished President Buhari a speedy recovery to return to his desk to fix the crises plaguing the nation let the CDHR intensify the struggle for a new Nigeria where our socio-economic rights including the right to health of every citizen will be guaranteed and realized.

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