Wednesday 22nd Febraury 2017 by THISDAY Newspapers Ltd

CBN Pumps $500m into FX Market, Banks Take up Only $371m Sells $491m in two days as naira appreciates on parallel market Says request for submission of tax clearance by customers erroneous, will be corrected today

Obinna Chima in Lagos and James Emejo in Abuja In keeping with its promise to ease the difficulties encountered by Nigerians in

obtaining funds for foreign exchange transactions, the Central Bank of Nigeria (CBN) yesterday carried out special wholesale intervention forward sales in the interbank

forex market by offering $500 million. But 23 banks were only able to take up $370,810,810.79 to meet the visible and invisible requests of the customers.

On Monday, the CBN also sold $80 million to banks to meet the demands of their customers who had applied for forex for school fees, medicals, and personal and

business travel allowances, out of the $125 million uncleared backlog for invisibles. A breakdown of the forwards indicated that $216,465,671.02 was for 30

days, while $154,345,139.77 was for 60 days. The CBN also yesterday did spot sales of $1.5 million to Continued on page 10

Report Reveals How INEC Officials Mishandled Rivers Rerun Elections ...

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Wednesday 22 February, 2017 Vol 22. No 7979. Price: N250

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FG Threatens Telecom Firms, Asks Them to Get Listed on Stock Exchange...

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DSS Witness Reveals Buhari’s Lawyer Offered Justice Ademola N500,000 as ‘Gift’

Tobi Soniyi in Abuja

The 16th prosecution witness in the trial of Justice Adeniyi Ademola of the Federal High Court and two others for alleged corruption, yesterday continued giving evidence and admitted under cross-examination before an Abuja High Court one of the

co-defendants in the trial, Mr. Joe Ago (SAN), had informed him that a counsel to President Muhammdu Buhari gave the judge a “gift”, not a bribe of N500,000 during the wedding of the latter’s daughter. The witness, Babatunde Adepoju, who is an operative Continued on page 10

President’s Test Results Require Him to Stay Longer in UK

Saraki reads his vacation letter, Onnoghen’s letter for confirmation There is no power vacuum, says Olu Falae Tobi Soniyi, Omololu Ogunmade and Oghenevwede Ohwovoriole in Abuja The fears of many Nigerians were confirmed yesterday when the presidency revealed that the results of the medical tests undertaken by President Muhammadu Buhari in the

United Kingdon would require him to remain in London for longer than anticipated. This was contained in a statement issued by his Special Adviser on Media and Publicity, Mr. Femi Adesina. “During his normal annual Continued on page 8

South Africa Condemns Xenophobic Attacks on Nigerians, Others... Page 12

SOLA DAVID-BORHA GETS A DESERVING SEND OFF... L-R: Chief Executive, Stanbic IBTC Bank, Dr. Demola Sogunle; Chief Executive, Standard Bank, Rest of Africa, Mrs. Sola DavidBorha; Chairman, Stanbic IBTC Holdings Plc, Mr. Atedo Peterside; and Chief Executive, Stanbic IBTC Holdings Plc, Mr. Yinka Sanni, during a special send off dinner in honour of David-Borha, in Lagos… Monday night abiodun ajala

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Senators Say 2017 Appropriation Bill Messier Than 2016 Budget Adeosun: FG to borrow $2.3bn from World Bank, China Omololu Ogunmade in Abuja and Obinna Chima in Lagos with agency report The March 8 deadline set by the Senate for the passage of 2017 budget is no longer feasible, as the chairmen of the sub-committee on the Appropriation Committee yesterday complained that the three weeks set aside for budget defence had exposed fundamental flaws in the document. At a closed-door session held between the principal officers of the Senate and all the committee chairmen yesterday, the senators said contrary to the belief that this year’s budget was better packaged than that of last year, the budget was actually a “mess”. THISDAY was told after the meeting that the sub-committee chairmen complained that the details of the budget had shown that several ministries, departments and agencies (MDAs) did not learn any lessons from the discrepancies that characterised the 2016 budget. The chairmen were reported to have informed the Senate President, Senator Bukola Saraki, that they could no longer meet the deadline set for the conclusion of the budget process because the document was characterised by inconsistencies, shortfalls in the spending for 2016 appropriations, and failure or inability of the MDAs to explain how the funds were disbursed.

THISDAY further learnt that the tale of woes by the committee chairmen compelled the Senate President to head for the Presidential Villa after the meeting yesterday to relay the Senate’s concern over the budget. THISDAY further learnt that the Minister of Finance, Mrs. Kemi Adeosun, was put on the spot on Monday when she appeared before the Senate Committee on Finance where she was confronted with the flaws in the budget. The minister, it was learnt, was challenged over her failure to provide details of the budget proposal including the breakdown of the figures in the budget. At the end of her meeting with the committee, she was told to come back with the budget details and breakdown of some proposed expenditure. Among the details that the executive was accused of failing to provide, included proposals on the N500 billion proposed for the social intervention fund and N100 billion proposed for housing, among others. However, it was also learnt that the minister did not show an understanding of the issues raised by the senators and felt that the Senate by its handling of the budget was attempting to usurp her power as the finance minister. It was also learnt that the committee chairmen also decried the failure of a number of heads of MDAs to appear before the Senate committees

and consequently complicated the budget process. The MDA heads were alleged to have stayed away and opted to send representatives for fear of being put on the spot over allegations of budget padding. The senators named the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, among the heads of MDAs who stayed away during the budget defence. The highlights of the stalemate identified by senators during the budget defence included a sharp disagreement over N700 million in the budget by the Budget Office and Debt Management Office (DMO). In the end, it was learnt that the meeting resolved that the sub-committees should carry out a lot of engagements with the MDAs with a view to helping them to clean up the discrepancies in the budget. The senators’ submissions at the meeting appeared to have confirmed the report of civil society organisations submitted to the National Assembly last week that the budget was full of fraudulent and frivolous proposals. A coalition of CSOs under the aegis of Citizen Wealth Platform (CWP) had at the opening of a three-day public hearing organised last week by the National Assembly on the 2017 budget, said it had uncovered a range of frivolous, inappropriate, unclear and wasteful expenditure proposals in the budget.

Meanwhile, the Minister of

Finance has disclosed that the federal government wants to borrow at least $1 billion from the World Bank and will sign within months a $1.3 billion loan from China to fund railway projects. Africa’s biggest economy needs to plug a gap in its record N7.3 trillion 2017 budget, which boosts capital expenditure by a quarter to end its first recession in 25 years due to low oil prices. The government has been in talks with the World Bank for a year and wants to finalise this month a reform proposal necessary for a loan application, according to officials. “We expected to borrow at least $1 billion,” Reuters quoted Adeosun to have said when she was asked about the talks with the World Bank on a CNBC programme. “There is also some possibility of doing sector specific intervention in the power sector, they are working very closely with us on power,” she added, without being more specific. Nigeria had initially promised to submit an economic plan to the World Bank by the end of December but did not do so, sources told Reuters last month. Adeosun also said Nigeria had been offered a $1.3 billion loan by China’s state ExportImport Bank (Exim) to fund railway projects. Nigeria will also present a reform proposal to the African Development Bank (AfDB) to

release a second loan tranche of $400 million, officials have said. AfDB had paid out a first tranche of $600 million but has held back the rest pending reforms. Its president has criticised hard currency curbs hitting investment. On Monday, the central bank made a step towards reforms by devaluing the naira for retail customers. President Muhammadu Buhari had objected to devaluation, but he is away on sick leave. Adeosun also said the government wanted to harmonise policies with the central bank and that non-oil revenues were improving, without giving details. She also said there was no need for a loan from the International Monetary Fund (IMF). “The IMF is really a lender of last resort when you have balance of payments problem. Nigeria doesn’t have balance of payments problems per se, it has a fiscal problem.” Adeosun also said one or two banks were yet to remit state revenues via a Treasury Single Account (TSA) at the central bank created in 2015 to combat corruption. “Interestingly our whistleblowing programme (to track down graft) actually picks up tips that bankers were being instructed to rename accounts when they knew that the money belongs to the federal government.” She did not name the banks.

of his decision to extend his initial vacation for 10 working days indefinitely. “Further to the correspondence from Mr. President, let me also use this opportunity to brief my colleagues on the visit. “I led a delegation of myself, the Honourable Speaker and the Majority Leader to visit Mr. President Buhari on Wednesday, 15th of February to convey the greetings and best wishes of the National Assembly and I am happy to report that we met the president in good spirits, in good health and chatty as usual. “He conveyed his best wishes and hopes to be back very soon,” Saraki said. Besides the president’s letter, Saraki also read two letters addressed to him by the acting president. In one of Osinbajo’s letter, he informed the Senate President that the acting Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, had been appointed as the substantive CJN following the recommendation of the National Judicial Council (NJC). The letter dated February 7, therefore sought the Senate’s confirmation for Onnoghen in accordance with Section 231(1) of the constitution. In his second letter, the acting president sent the name of Adeyinka Asekun (Ogun) as an additional non-career ambassadorial nominee for Senate confirmation. Meanwhile, the National Chairman of the Social Democratic Party (SDP), Chief Olu Falae, said yesterday that

Nigerians are not feeling the long absence of Buhari, adding that Osinbajo was doing well in an acting capacity. He stated this while speaking with journalists at the end of the National Executive Committee (NEC) meeting of SDP in Abuja yesterday. “I am satisfied that President Muhammadu Buhari is making significant progress in terms of his health, because no human can accelerate his own recovery; only the doctors and God can do so. “In any case, there is no vacuum; there is an acting president who has the full powers of the president and he is doing very well. “The acting president has been going round the country to make sure that all aggrieved Nigerians are reassured of hope and belief in the Nigerian state. “Nigerians need to support the acting president in order for him to succeed, pending the return of our president, President Muhammadu Buhari,” he said. The Deputy National Chairman of the SDP, Mr. Abdul Ahmed Isiaq also told journalists in Abuja that his party was currently discussing with the Peoples Democratic Party (PDP) and other political parties for possible collaboration in future elections. Isiaq, who was reporting back to the party on the assignment given to him to explore areas of co-operation with the PDP, told members that contrary to speculations in the media, the party was not negotiation a full merger with the PDP or any party for that matter.

He said that at a meeting with the PDP Strategic Committee headed by Prof. Jerry Gana, the options placed before the SDP were to consider either a working alliance, absorption or merger. “You must have read in the newspapers or heard over the radio or television stations that the SDP is going to merge with the PDP. The truth is that the PDP Strategic Committee went round the country and met with

According to the group, a range of wasteful, duplicated and needless proposals, amounting to N151.536 billion had been identified in the budget which it wanted the National Assembly to expunge. The group further reported that a number of proposals for which funds had been appropriated in 2016 budget were again smuggled into the 2017 budget. On this basis, the committee chairmen were said to have reported yesterday that a number of questionable proposals found in the budget included fake items such as computers and other items that were duplicated. Nonetheless, the meeting was said to have resolved that the sub-committees should speed up the budget process and ensure its completion by the end of February so that the Appropriation Committee can receive their reports at the end of the month. Also, the Senate did not hold plenary session yesterday but only met, read the correspondence that had sent to them during its recess, and adjourned till today in honour of a member of the House of Representatives from Marshi constituency in Katsina State, Hon. Sani Bello, who passed on February 15.

FG to Borrow $2.3bn from World Bank, China

PRESIDENT’S TEST RESULTS REQUIRE HIM TO STAY LONGER IN UK check up, tests result showed he needed a longer period of rest, necessitating the president staying longer than originally planned,” Adesina said.

The results of the tests were however not made public. Adesina, in a statement he issued on February 5, had said that Buhari was compelled to extend his stay back in the UK in order to complete his medical tests as recommended by his doctors. But yesterday, Adesina said the president thanked millions of Nigerians who had been sending goodwill messages and praying for his health and well being in mosques and churches throughout the country. According to him, the president is immensely grateful for the prayers, show of love and concern. “President Buhari wishes to reassure Nigerians that there is no cause for worry,” the statement added. Also, speaking to State House correspondents after he had issued the statement, Adesina said only Buhari could disclose the ailment that has kept him away from his job for over a month. He said the president wanted Nigerians to know that he appreciates their prayers, concerns and goodwill. Adesina said: “He has added that there is really no cause to worry. He is the one who owns the body and there is nobody who will know his body more than him and he says no cause

to worry.” When asked how long the president will continue to rest in the UK Adesina replied: “I speak for somebody, I do not speak for myself. So it is what he tells me to say that I say and the statement transmitted to me is that the president needs to rest for some more time.” The president’s spokesman also said that the statement issued by him on behalf of the president was Buhari’s way of speaking to Nigerians. “What he has just done is to speak to Nigerians,” Adesina said. When pressed again on the exact nature of the health concerns keeping the president in London, Adesina said: “Don't you know that the Hippocratic Oath even forbids a doctor from speaking about the condition of his patient except the patient authorises it? “It is only the patient himself who can speak about what he is going through. “This is the person going through these series of tests and rest, and he says no cause to worry, let us believe that.” Adesina was also tasked on the harassing of Nigerian journalists who have been trying to reach and interview the president in the UK. On this he said that he did not consider the treatment meted out to reporters of The Guardian and Nation as harassment. He said: “I do not consider that harassment. Presidents are not hijacked and interviewed. These things are scheduled. So I do not consider that as harassment.”

On speculations that the president may remain in the UK for months, he said: “What we have just said is what I will want us to believe. The president said he needs to rest further. The same president that communicated that to us, when it is time for him to come, he will also communicate to us.” On the claim that the president has lost his voice, Adesina also challenged those who have made the claims to prove it. He said: “He spoke with President Donald Trump. Did Trump say he did not speak with the Nigerian president? Anybody can allege anything. “My message to Nigerians is for us to learn to believe our leaders. This is a man we elected into office and he says no cause to worry, let us believe him.” In the president’s absence, his deputy, Yemi Osinbajo, to whom Buhari handed over the mantle of office, shall continue to act as president. In a related development, Senate President Bukola Saraki yesterday said Buhari had expressed hope that he would return to the country soon, insisting that the president was healthy and in good spirits. Saraki, who made this remark at the resumption of plenary in the Senate while briefing his colleagues on his recent visit to the president in London, said the president conveyed his best wishes to members of the National Assembly. His briefing was made after he read the president’s letter of February 5, informing the Senate

Continued on page 10

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T H I S D AY WEDNESDAY FEBRUARY 22, 2017

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

Nigerian Fashion Designer Gets Vogue’s Attention

"Duro" by Duro Olowu Popular UK-based Nigerian designer, Duro Olowu, has showcased his latest autumn/ winter collection at this year’s London Fashion Week (LFW). The annual fashion extravaganza, which kicked off last Thursday, wrapped up yesterday in the British capital. The collections released by Vogue.co.uk were colourful and energetic ready to wear clothes. According to the News Agency of Nigeria (NAN), Vogue’s Suzy Menkes described Olowu as “a one-man band’’ and “a designer who interacts with his customers”. Menkas said Olowu understood the needs and desires of his customers. “To hear him describing how he gives a dress a little

lift at the waist and cuts the skirt on the bias so that it falls oh-so-lightly, is to understand how his collection comes into place each season,” Menkes said. Since arriving on the London fashion scene in 2004, Olowu has impressed the right people with his vibrant mix of African prints, seventies tailoring, and unlikely color combos. A high-waisted patchwork boho dress known as the “Duro” put the brand on the fashion map and became a cult item in 2005 after being discovered by American Vogue editor Sally Singer and Julie Gilhart of Barneys. Born in Lagos to a Nigerian father and Jamaican mother, Olowu spent his childhood travelling between Nigeria and Europe.

NEWS CBN PUMPS $500M INTO FX MARKET, BANKS TAKE UP ONLY $371M four banks, totaling $6 million.

The Bank also offered $41 million for sales, of which $35 million was taken up for the payment of school fees, medical bills and personal and business travel allowances. With the interventions on both days, the CBN sold $491.8 million to commercial banks and authorised dealers in the market. A source at the CBN disclosed that the qualified bids for the greenback ranged from N315 to N360, adding that seven banks received full allotments of their respective bids valued at $37,500,000 each. Other banks received allotments ranging from $46,512.50 to $15,578,081.51. A CBN source informed THISDAY that the central bank actually offered $500 million to the banks yesterday through special wholesale intervention forward sales. But of this amount, the banks were only able to take up $371 million at a marginal exchange rate of N315 to the dollar. “The reason the banks could not take up the entire $500 million offered by the central bank was because of lack of naira liquidity,” the source explained. For the $500 million on offer, forex authorised dealers were required to send their request for sums not exceeding 7.5 per cent of the amount on offer. Confirming the wholesale intervention by the CBN yesterday, central bank spokesman, Mr. Isaac Okorafor, said the Bank’s intermediation in the forex market was the first wholesale intervention aimed at easing the pressure of access to forex by Nigerians who intend to meet obligations that fall under visible and invisible needs categories. He further confirmed that the CBN offered $500 million for sale to the banks, but not all of them provided enough naira backing to pay fully for their respective bids. While expressing optimism that the wholesale intervention of the CBN would substantially ease the forex pressure on visible and invisible needs of customers, Okorafor assured that the Bank would continue to make interventions based on qualified bids from the banks on the requests of their customers. He reiterated that the central bank was more than ever ready to support the interbank

market by ensuring liquidity and transparency to guarantee efficiency in the forex market. Okorafor asked all market participants to contribute their quota and assist in ensuring that the new measures put in place by the CBN can guarantee the steadiness of the financial market, as well as the growth and development of the economy to the benefit of all Nigerians. The CBN, after a meeting with Deposit Money Banks (DMBs) last Friday, issued new policy actions aimed at easing access to forex for personal and Business travel allowances, as well as educational and medical fees, among others. As part of its new policy action, the CBN also directed all banks in the country to open forex retail outlets at major airports as soon as logistics permit them to do so. The impact of the new FX policy had a positive impact on the parallel market yesterday, where the naira appreciated by N10 to close at N515 to the dollar, stronger than the N525 at which it closed on the previous day. Before the close of business, market watchers said the naira actually appreciated to N510 to the dollar before settling at N515 over concerns that the CBN, in its circular on Monday, had asked authorised dealers to demand for tax clearance from their customers. In line with the circular, banks were reported to have started demanding for tax clearance from their customers, resulting in added pressure on the parallel market. However, a CBN official informed THISDAY last night that the demand for tax clearance was erroneous and would be corrected today in a revised circular to be issued on the new actions for the forex market. He said: “The CBN is not FIRS. The inclusion of the tax clearance was a mistake and will be corrected. Our desire is to meet all genuine demand and not drive bank customers back to the parallel market.” In addition, CBN yesterday issued operational guidelines for the special wholesale intervention forward sales for forex transactions not exceeding 60 days. It restated that the policy was aimed at enhancing transparency and confidence in the sector. The CBN noted that it would not apply all the provisions of Clause 2.4.3 (SMIS-Wholesale) of the revised guidelines for

the operation of the Nigerian Interbank Foreign Exchange Market of June 2016 for the new window. The CBN in a circular signed by its Director, Financial Market Department, Dr. Alvan Ikoku added that banks will not be allowed to allocate funds for customers' letters of credit (LCs) which had already benefited from past SMIS that are yet to mature. The circular further restricted any bank from exceeding its Net Trading Position limit at any particular time under the new FX regime. The central bank also pegged the allowable spread between bid and offer at 50 kobo and banks will be required to open equivalent amounts of fresh LCs (confirmed or unconfirmed) for any of their customers and send evidence of such fresh LCs within a week of release of reaction results. Among other conditions for participating under the special intervention window, the CBN also forbade multiple bid entries and insisted that all allotments be trade backed. It warned that any bank, which fails to comply with the rules of the special wholesale window and other extant forex guidelines, will be sanctioned, including executives and other officers of the affected bank. This came as market analysts threw their weight behind the new FX measures announced by the CBN on Monday. The CEOs spoke in separate interviews with THISDAY yesterday. Commenting on the action, the chief executive of Financial Derivatives Company (FDC) Limited, Mr. Bismarck Rewane said the CBN was moving slowly in the right direction. “But a lot more work needs to be done.” Rewane added: “It is commendable on the fact that they had the courage to finally understand that the naira is overvalued. “Secondly, we must move away from multiple exchange rates. Multiple exchange rates are a recipe for round-tripping. “There is a crisis of confidence and crisis of supply. As the crisis of supply is being dealt with, the crisis of confidence also needs to be dealt with as well and we need additional courage to do that.” The Director General of the West African Institute for Financial and Economic Management, Prof.

Akpan Ekpo, held the view that the new measures announced by the CBN would help address the misalignment between the official and parallel market rates. According to the former university vice chancellor, “They (CBN) figured out that part of the problem was access to forex. “So, if the banks open retail offices at the airports, it would facilitate access to a lot of people and it may become more transparent. “The misalignment in the currency is causing a lot of distortions in the economy. “But I am advising that the CBN should continue to prioritise forex access to manufacturers so that they can import raw materials and equipment. “But in the long term, we cannot keep importing the things that we can produce here. If you look at the data, imports have reduced due to the removal of those 41 items from accessing forex.” He stated that the improvement in forex supply in the country would help dampen the effect of rising rate of inflation. Ekpo, however, added: “But we must all understand that Nigeria has a forex supply problem. It is not really a CBN problem. We get forex majorly by selling crude oil. “So, we need to change the structure of our economy so that we can have other sources of earning forex. If we have a viable manufacturing sector that exports most of its products, we would have enough forex.” Also, the chief executive of BIC Consultancy Services, Dr. Boniface Chizea, expressed optimism that the CBN would be able close the wide gap between the parallel and interbank FX markets “if and only if we meet all the demand for foreign exchange at the official window”. He added: “Once demand is sought outside this window, it must be at a premium, even if it is from the bureau de change. “The move to make dollars available to the banks to sell to those who demand for PTA, school fees and medicals at a rate lower than the parallel market rate, which was dangerously trending south, is a masterstroke. “This should reduce the demand pressure at the parallel market, resulting in an appreciation which would catch some economic agents that if they are not careful they would get their fingers burnt.”

He said that the state of the nation was discussed at the meeting and at the end of the day, SDP made it known to the PDP that the mandate of the delegations was to come for

the meeting, listen and report back to the party’s NEC. He said that he informed the party’s NEC that a nineman committee was later set up, which included him as

a member and secretary and chaired by Senator Ibrahim Gida from Katsina State to come up with possible position that will be acceptable to all parties involved in the discussions.

for the Office of the President. Adepoju was then asked to read out the name of the third counsel defending Buhari in the matter. The witness read out the name of “Kola Awodein”. The court in turn admitted the papers in evidence. The witness was then asked whether it was right to say that Buhari had bribed Ademola on the basis that his lawyer gave the judge a gift of N500,000 for his daughter's wedding. The witness answered “no”. Adepoju was further asked whether it could be said that Agi bribed Ademola with the said N30 million when such gift passed through him (Agi) for the judge’s daughter's wedding. The witness also answered “no”. He was then asked why he did not believe when Agi and the givers of the said N30 million gift had said it was a gift for the judge’s daughter’s wedding. The witness said he did not just believe.

However, a letter written by Hubert and Bassey backing up the cash gift was given to him to read and the letter was tendered as evidence before the court. The witness was also asked whether in the course of his investigation, he found any case which Agi was handling before Justice Ademola that could warrant the payment of such N30 million. Adepoju answered that he did not see any such case. On the money recovered from Justice Ademola, the defense asked whether anybody lodged a complaint to the DSS that money was given to Justice Ademola as a bribe. The witness answered “no”. The defence also asked whether anyone had laid a claim to the monies recovered in Justice Ademola’s house. The witness said nobody had come to lay a claim on the monies, but Justice Ademola had insisted that the money was his.

PRESIDENT’S TEST RESULTS REQUIRE HIM TO STAY LONGER IN UK national leaders including our National Chairman, Chief Olu Falae. “Their intention is to discuss the state of affairs of the nation, in which both political and non-

political actors can come together and salvage the situation in our country. “The national chairman was invited but asked me to represent him at the meeting;

other members of the party were chosen from all the geopolitical zones to be members of the party’s delegation to the meeting, which was headed by me,” he explained.

DSS WITNESS REVEALS BUHARI’S LAWYER OFFERED JUSTICE ADEMOLA N500,000 AS ‘GIFT’ of the Department of State Security Service (DSS), also admitted that the N30 million transferred by Agi to the account of Mrs. Olabowale Ademola, the wife of Justice Ademola, could not be described as a bribe.

Both Agi and Mrs. Ademola are jointly being tried alongside the judge. Adepoju said that Agi told him during investigation that one of the lawyers in the team that defended the suit seeking to prove that Buhari did not have the basic qualification to aspire to the Office of the President, Mr. Kola Awodein (SAN) gave N500,000 to the judge as a gift during his daughter’s wedding. The witness, however, held the view that the gift of N500,000 could not be described as a bribe. In addition, the witness admitted that there was no petition from anybody that the monies recovered from

Justice Ademola’s house were the proceeds of crime or bribe. The federal government is prosecuting Ademola, his wife and his family lawyer, Agi, for alleged gratification. The federal government, after calling 19 witnesses, closed its case yesterday. The defendants have however applied to the court to file a no case submission. A no case submission is an application filed by a defendant in which he intends to show the court that the prosecution has not established a prima facie case against him. The court adjourned till March 15 to hear the no case submission. In the 16-count charge, the prosecution alleged that Agi transferred the sum of N30 million in three tranches of N10 million each into the account of Olabowale and alleged that the money was gratification, an allegation the defendants have

denied. The witness, Adepoju had earlier told the court that he investigated the alleged offences levelled against the defendants. In his statement to the DSS, Agi had said that the said money was a gift from Ken Hubert and Bassey Bassey who are friends of Justice Ademola for the wedding of his daughter. At the resumed trial yesterday, while being cross-examined, Adepoju admitted that it was customary in Nigeria that friends and well wishers shower gifts on anyone planning a wedding. Adepoju, in his evidence, had informed the court that he took the statement of Agi on December 23, 2016. Based on that, he was asked under cross-examination whether Agi told him that the gift of N30 million from Ken Hubert and Bassey was a gift to the judge for the wedding of his daughter and the witness answered “yes”. The witness was also asked

whether Agi told him that it was not only Hubert and Bassey that gave a gift to the judge but that Buhari’s lawyer, Kola Awodein (SAN), also passed a gift of N500,000 to the judge. The witness also answered “yes”. He was further asked whether Agi had told him that the N500,000 gift was given to the judge by Awodein during the pendency of Buhari's certificate suit before Justice Ademola. He admitted that he was told so. Adepoju was then asked whether as an investigator, he investigated the assertion that the said gift was given during the pendency of the suit. He however answered that he did not investigate. It was at this point that the defence team tendered the court papers of a suit marked FHC/ABJ/CS/01/2015 dated February 9, 2015, wherein Chukwuwinke Okafor sued General Muhammadu Buhari (rtd) over his qualification to run

T H I S D AY WEDNESDAY FEBRUARY 22, 2017

WEDNESDAY FEBRUARY 22, 2017 • T H I S D AY

NEWS

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

Report Reveals How INEC Officials Mishandled Rivers Rerun Elections

Chinedu Eze

Officials of the Independent National Electoral Commission (INEC) substantially contributed to the crises that rocked the December

10, 2016, elections in the state, THISDAY has learnt. In a report by the Administrative Panel of Inquiry into the December 10, 2018 Rerun Elections in Rivers State obtained by THISDAY last

South Africa Condemns Xenophobic Attacks on Nigerians, Others Assures on safety of all foreign nationals in S/A Police: 20 shops ‘possibly belonging’ to immigrants were looted Alex Enumah in Abuja The government of South Africa has condemned the recent xenophobic violence against foreigners including Nigerians and other Africans in South Africa, describing the incident as not only despicable but demeaning of the African people. The South African High Commissioner to Nigeria, Lulu Mnguni, who disclosed the position of the South African Government to journalists in Abuja yesterday, promised that culprits would not go unpunished. He stated that irrespective of the level of grievances people feel, they are not allowed to take the laws into their hands. Mnguni assured Nigerians of the preparedness of his country to protect the lives of all foreigners, stating that South Africans are peace loving people who would do everything possible to sustain and improve upon the smooth relationships that exist between them and their visitors. The ambassador, however, appealed to foreign nationals in South Africa or those proposing a visit to ensure that they travel with genuine document and endeavour to respect the laws of their host country. He stressed that the issue of drugs and prostitution, which he claimed was largely responsible for the recent crisis, would require a collective efforts by all to be eradicated from the continent. Muguni also advocated the need for foreigners to enter into partnership with South Africans to drive development just like the one that gave birth to MTN. Meanwhile, the Nigerian Government while strongly condemning the incident, “urged the South African government to take the strongest measures to protect the lives and property of foreigners living in South Africa and also to quickly bring to justice the perpetrators of these heinous crimes.” The government in a release from the Ministry of Foreign Affairs observed that incidents of xenophobic attacks have continued unabated in South Africa since 2015, and that Nigerians are among the groups that have been mainly targeted for attack and looting of their property. The ministry however urged Nigerians in South Africa to remain calm and law abiding, adding that high level communications aimed at permanently resolving the crisis have commenced. The government nonetheless advised Nigerians in South Africa to be vigilant. Part of the statement read: “The Federal Government of Nigeria

unequivocally insists on, and will strenuously work towards, the protection of Nigerians anywhere, including in South Africa. “The High Commissioner of South Africa to Nigeria is being summoned to the Ministry of Foreign Affairs during which government’s concerns on this matter would be brought to his attention.” However, the police in South Africa yesterday said at least 20 shops possibly belonging to immigrants were looted in Pretoria. It but could not confirm if the attacks had deliberately targeted foreigners. Anti-immigrant violence has flared sporadically in South Africa against a background of near-record unemployment, with foreigners being accused of taking jobs from locals and getting involved in crime. Responding to similar incidents in Pretoria at the weekend, Nigeria’s foreign ministry said it would summon South Africa’s envoy to raise its concerns over “xenophobic attacks” on Nigerians, other Africans and Pakistanis. South African police, according to Reuters, said they did not yet know the motive for the latest attacks, and no deaths had been reported. Police spokeswoman, Mathapelo Peters, said: “There are allegations that these shops belong to foreign nationals. “It is alleged that the community members are saying that these shops were used for drug dealing but that is unconfirmed. “We will only be able to start a formal investigation once the shop owners come forward.” The Atteridgeville neighbourhood, where the looting took place, was calm yesterday as police cars drove through the streets. An unemployed man in his mid-20s, who declined to be named, said: “we are sick and tired of foreigners who are coming to sell drugs and kill our people, we can’t let the community go down like this.” South Africa, with a population of about 50 million, is home to an estimated five million immigrants. In April 2015, Nigeria recalled its top diplomat in South Africa to discuss anti-immigrant attacks that killed at least seven people and sent hundreds of foreigners fleeing to safety camps, as authorities sent in soldiers to quell unrest in Johannesburg and Durban. In 2008, at least 67 people were killed in anti-immigrant violence, with thousands of people fleeing to refugee camps.

night, substantially revealed how the commission mishandled the elections. The panel which was chaired by a National Commissioner in the commission, Prof. Okechukwu Ibeanu, said from the information it received, there was inadequate direct contact between supervisory National Commissioners for the elections and electoral officers. The five-man panel, among other finding, added that had this been otherwise, some of the claims of lack of support made by the electoral officers against the state Resident Electoral Commissioner and his staff would have picked up by the National Commissioners and solved on time. It further said there was reluctance on the part of superior officer to discipline staff for specific failures on the deployment chain. The panel said there was no evidence that Electoral Officers (EOs) and Heads of Department in the state office signed off on State

of Preparedness (SoP) documents, including the Readiness Assurance Report issued by the Planning and Monitoring Directorate. It said instead, they readily passed blame around rather than take responsibility. According to the document, from the information received, it appeared that there was inadequate direct contact between the supervisory National Commissioner for the elections and Electoral Officers, noting that had this been otherwise; some of the claims of lack of support made by the Electoral Officers (Eos) against the REC and his staff might have been picked up by the National Commissioners and resolved on time. The document noted that there seemed to be reluctance on the part of the superior officers to discipline staff for specific failures in the deployment chain and this explained why there was hardly any queries that was issued even for obvious dereliction of duty, such

as non use of voting points. The committee observed that funds arrived only seven to 10 days before Election Day; observing that there were problems in accessing the funds because of issues with the bank. The committee also noted that there were no serious problems relating to the production of ballot papers and result sheets for the elections however, in Khana Registration Area (RA) 2, ballot papers were not issued. The same was the situation in Bonny RA where result sheets were not available. The committee also remarked that the ballot papers and other result sheets, which were supposed to arrive at the state office on December 7, instead arrived on December 8, ostensibly for security reasons. “There was no evidence that electoral officers and

head of department in the state office signed off on state of preparedness document including the readiness assurance report issued by the planning and monitoring directorate,” the document disclosed, remarking that consequently electoral officers readily passed blame around rather than take responsibility. Recall that the joint investigation panel set up by the InspectorGeneral of Police (IG), Ibrahim Idris to probed the legislative election in the state had established cases of misconduct against some electoral officers who, according to him, allowed themselves to be compromised in their line of duties. The panel alleged that the state government bribed officials of INEC with N360million to rig the poll. It said it recovered N111.3million from 23 INEC officials, who confessed to have received the money from the Rivers State Government officials to manipulate the rerun polls in the state.

MAKING NIGERIA INVESTMENT-FRIENDLY

L -R : Minister of Trade, Investment and Industry, Dr. Okechukwu Enelamah; Speaker, House of Representatives, Hon. Yakubu Dogara; Senate President, Dr. Bukola Saraki; and Acting President, Prof. Yemi Osinbajo, during a meeting of the Presidential Enabling Business Environment Council at the Presidential Villa in Abuja ...yesterday Godwin Omoigui

Southern Kaduna Attacks: Death Toll Rises to 26 24-hour curfew imposed on LGs as SOKAPU kicks John Shiklam in Kaduna The Kaduna State Police Commissioner, Mr. Agyole Abeh, has confirmed that two men were among the 22 people killed in an attack by gunmen believed to be Fulani herdsmen on four communities in Jama’a and Kaura Local Government Areas of the state. Meanwhile, the death toll in the attacks has risen to 26 following the recovery of four more corpses in the bush, according to the President of the Atakad Development Association, Mr. Enock Andong. Speaking on a telephone yesterday, Abeh said the two police men were killed in the attack in Bakin Kogi village in Jema’a area last Sunday. “Yes two of my men were killed in Jema’a. But the situation has been brought under control. I have already relocated to Kafanchan,

as directed by the governor on Monday. I have just returned to Kaduna to brief the governor on the situation back there. But I want to assure you that we have the situation under control. From now on, I will be operating from Southern Kaduna,” he said. Meanwhile, the state government yesterday imposed a 24-hour curfew in the two council areas following tension and apprehension. The government in a statement by Samuel Aruwan, spokesman of Governor Nasir el-Rufai, said: “The action became necessary to protect life and property and to avoid further breakdown of law and order. Aruwan said the decision to impose the curfew was taken by the state security council, adding that all security agencies on a special operation in the two local government areas had been directed to ensure strict compliance.

The statement said only essential workers and those on humanitarian services are allowed movement after due clearance by security agencies. However, the Southern Kaduna Peoples Union (SOKAPU) has faulted the 24-hour curfew imposed on the two local government areas. President of SOKAPU, Solomon Musa, a lawyer, said although the group supports any lawful step that could stop the attacks, he, however, noted that experience had shown that imposing curfew will make it easier for the marauders to continue with their evil acts. Speaking in a telephone interview with THISDAY, he said: “I want the position of SOKAPU to be clear. We are all in support of any lawful measure that would bring succor peace and security to our people. We are not against any curfew if it would make us more secure. “But our experience in the past

few weeks has shown that anytime a curfew was imposed, it keeps our people at home for the marauders to easily attack.” According to him, “It was under a curfew and the heavy presence of police that Goska, a short distance from Kafanchan was attacked last December. It was also a 24 hours curfew that some youths were killed in Samaru Kataf not far from a major police check point last January. “The curfew in Zangon Kataf lasted for two weeks. People stayed indoors, markets and schools were shut. The victims of the violence were further punished while the killers roamed freely. “It became very difficult for many to feed their households. If this latest curfew would lead to apprehending the murderers, good and fine. But if it is just to add to our suffering by being forced to stay at home, then we beg to differ,” he said.

T H I S D AY WEDNESDAY FEBRUARY 22, 2017

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

COMMENT

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

WHEN WILL THE PEOPLE LEARN? Sonnie Ekwowusi argues that Nigerians are suffering from lack of discernment

ailed followership begets failed leadership. Certainly Nigeria’s present socio-economic and political calamities have their root cause in failed followership. And the evidence of political followership failure in Nigeria is the inability of the people to learn from their political history. Democracy, we are told, is a learning process. But it appears that we are not even interested in learning the lessons of democracy in Nigeria. Agreed, Nigerian democracy is comparatively a young one. Democracy has not really been tested in Nigeria. In any case, it is not rosy anywhere. The so-called advanced democracies are still battling for survival. But it is expected that by now the people of Nigeria should have been able to differentiate sense from nonsense. Outsiders are unhappy that Nigerians are now accustomed to tolerating all sorts of nonsense from their political leaders. Just last week, a young friend of mine, a first class degree holder in Civil Engineering, attended a job interview in Toronto, Canada. When he sat down, the interviewer took a studied look at him, perused his curriculum vitae and said: “With all these qualifications, why can’t you go back and fix Nigeria”? Thereafter the job interviewer told him that foreigners are scandalised that amid Nigeria’s abundant human resources a few Nigerian political leaders are destroying Nigeria and getting away with it. The interview over, but before my friend could get up and leave, the interviewer asked him: “How is your President? Is he now fit enough to rule the country, or, is his case like the case of your former President Yar’Adua?” Realising that the Canadian was conversant with the Nigerian political history, my friend opened up and said: “I am tired of Nigeria. For example, you mentioned former President Umaru Yar’ Adua. Do you know that during his political campaign it was disclosed that he was suffering from an ailment? But the disclosure was dismissed as a non-issue. But just a few months after he was sworn in as president the man’s illness could no longer allow him to perform his duties as president. Consequently he was flown to Saudi Arabia for medical treatment. Throughout the man’s one month stay in Saudi Arabia some Nigerian politicians and government officials claimed that they went to Saudi Arabia and saw him hale and hearty. Others used his name to tell lies. On many occasions they lied to Nigerians at home that the man was performing his presidential functions from his sick bed in Saudi Arabia. They alleged that he signed the supplementary budget; that he spoke to the BBC and so forth. The rest is history. Similarly President Muhammadu Buhari’s ailment came to light during the last presidential campaign. But it was dismissed as a non-issue. Now the ailment is not allowing him to perform his duties as president. Presently he is receiving medical treatment in London. Before now, he had been frequenting many hospitals abroad. In the last four weeks or so, his ailment has been the subject matter of public discussion in Nigeria. Some politicians claimed that they went to London and saw him hale

THE NIGERIAN TRAGEDY IS THAT THE SAME PEOPLE WITH THE SAME OUTDATED THOUGHTS AND IDEAS ARE BEING RE-CYCLED IN POLITICAL POWER

and hearty. Meanwhile there is high unemployment rate in Nigeria. There is constant electricity failure. The Nigerian currency keeps taking a plunge and losing value. There is hunger and frustration in Nigeria.” The above conversation between the job seeker and the Canadian elicits serious thoughts and serious questions. The Nigerian political tragedy is that the same people with the same outdated thoughts and ideas are being re-cycled in political power. I gather that a new mega political party that will replace the All Progressives Congress is due for launch in March this year with Abubakar Atiku standing by as its presidential candidate and Asiwaju Bola Tinubu as its power broker and godfather. Which means that we are still turning round and round. No progress. Serves us right. A time was when the late Gani Fawehinmi presented himself for an election in Nigeria but the Nigerian people rejected him saying “Gani cannot be a good president”. Prof. Pat Utomi has equally presented himself several times for election but most Nigerian voters said that he did not have the “political platform” to be elected president. You may ask, what is this much-vaunted “political platform”? Look at President Donald Trump, a first-time comer to American politics. Yet the Americans massively voted for him at the last American Presidential election. He won. He is now the President of America. When will the Nigerian people learn? You will recall that prior to the last Presidential election, immediate former President of Nigeria Goodluck Ebele Jonathan warned Nigerians to refrain from voting for a presidential candidate who would make life unbearable for them. Unfortunately that warning was unheeded. Today we are paying the price of our lack of discernment. We are suffering. The living condition of the average Nigerian especially his or her health condition has worsened in the last two years. Nigeria occupies the unenviable position of 187 out of the 190 countries in the World Health Organisation (WHO) health ranking. Only Democratic Republic of the Congo, Central African Republic and Myanmar are trailing behind Nigeria. We wish we had listened to Jonathan. But we must be optimistic. All is not lost. We can still win. But before we can win, the people must first and foremost affirm their identity as the sovereigns in our constitutional democracy. Representative democracy simply means government with consent derived from the governed. This consent flows from the equality and rights of all men. If we are all equal it means that no power thirsty politician has a right to rule without the consent of the governed. The American founding fathers put it aptly when they stated that “Governments are instituted among men deriving their just Powers from the Consent of the Governed”. By voluntarily entrusting to a few elected people with the responsibility of governing their affairs, the people have not relinquished their power. Power belongs to God but the people are the repository of that power.

NO CRITICISM, PLEASE

“

Magu has done extraordinarily well as EFFC chairman, argues Igwebuike Nwokoroigwe

The EFCC has fallen off in the last two years. We want to see them start work again as before”. These were the exact words of Hilary Rodman Clinton, former United States of America’s Secretary of State, in her first official visit to Nigeria on August 12, 2009. She was conveying the damning position of the American government on the fight against corruption in Nigeria. Of course, nobody was surprised by Clinton’s statement at the time because the fight against corruption had somehow given way to political expediency and the Economic and Financial Crimes Commission had concomitantly become almost moribund. This was the period when a certain Ibrahim Magu, a key operational staff under Malam Ribadu, the pioneer chairman of the anti-corruption body, was being persecuted by the new leadership of EFCC. He was accused of all manner of things, including insubordination, and subsequently queried. Can you guess what his offence was? Magu’s only offence was the fact that he did a good job of leading the investigation of most of the country’s former governors. And a new leadership of the EFCC helped into office by corrupt politicians (whom Ibrahim Magu was building up a case against) did not want him around again. They simply had to please their principals, even if that meant running Magu not only out of EFCC but also entirely out of town. So when the DSS writes a report detailing how Magu was queried, suspended and indicted by a police panel, this is the background story! Yes, the Peoples Democratic Party allowed the EFCC to fall off by making the fight against corruption the least of its policy priorities, but the Nigerian public was watching and keeping records. And once the 2015 general elections arrived Nigerians

exercised their civic rights and voted out what they perceived to be a very corrupt regime. And it was therefore no surprise that President Buhari’s promise to fight corruption ruthlessly resonated with voters across the country. Indeed, in the president’s own words, “If we do not kill corruption, corruption will kill Nigeria.” It is therefore understandable why the fight against corruption formed the cornerstone on which the Buhari presidency was erected. In setting about this defining anti-corruption war for his regime, the biggest challenge for the president was identifying the arrowhead to lead this deadly war of combating what has become a well-oiled army of the corrupt, boasting of ludicrously obscene wealth and vociferous cheerleaders who unknowingly are cheering away their own future and those of their children. If you think that getting someone to lead the EFCC is an easy task, then you are probably underestimating how dangerous, risky and compromising fighting corruption has become in the land. You need a man or woman with a lion’s heart; you need a man or woman to whom money and other material objects mean nothing; you also need a man or woman with the institutional memory of the EFCC right from the beginning of the commission because some of the politicians who were under investigations since the setting up of the EFCC are now hiding behind sanctuaries of the Senate and not only making laws for the rest of us but more dangerously saddled with vetting the president’s choice of EFCC chairman. Happily, Ibrahim Mustafa Magu, the president’s choice, fits that ascetic and fearless anti-corruption czar needed to take the battle to these vicious few who have stolen the majority of us blind, who are swimming in opulence while the rest of us live in abject poverty. Forget all the propaganda that these

corrupt but powerful politicians together with some of their allies in the legal profession and the media are unleashing on Magu to stop his inevitable confirmation. The truth is that no previous EFCC chairman, not even Ribadu, can boast of the superlative achievements of Magu in the brief period he has acted as head of the commission. Under him, the EFCC has recovered more stolen money than in any other era. For those fascinated by figures, Magu’s EFCC has recovered N102.91 billion, $8.30 million, 29,155, 12,475 pounds, 117,004 Canadian dollars as proceeds of crime between January and December, 2016. Other monies recovered during the period were 806.50 Dirham, 5,000 Francs and 2,000 Rupees. This is apart the humongous $9.8 million just recovered from the house allegedly belonging to the former Group Managing Director (GMD) of Nigerian National Petroleum Corporation, Andrew Yakubu, in Kaduna, which a court has ordered its forfeiture. Add to these, the N1.25 billion recovered from a public servant recently. Just last week, Justice Muslim Sulaiman Hassan of the Federal High Court sitting in Ikoyi, Lagos, ordered the final forfeiture of the various sums of money – N23, 446, 300,000, N9, 080,000,000 and $5m (totaling over N34bn) – linked to a former Minister of Petroleum Resources, Diezani Alison-Madueke, to the federal government, following an application by the EFCC. And the way it is getting results lately, the EFCC under Magu may well become the greatest source of revenue for the country – after oil! Furthermore, the commission secured 135 convictions, out of which 46 were from Lagos zone, 30 from Abuja zone, 22 from Port Harcourt zone, 19 from Kano zone, 15 from Enugu zone and three from Gombe zone, during the period. Beyond these, the greatest achievement of Magu

is in the area of breaking the culture of stealing with impunity all too common with the immediate past. Politicians and public officers are now conscious that the big eye is watching them and that there are now consequences for any financial malfeasance. In short, Magu and his EFCC have struck fear in the hearts of politicians, public servants and devious businessmen and women. They are now aware that Nigerian money is meant to service the needs of our people, not to end up in personal accounts and other conduit pipes. In the days ahead, the most important politics will be nothing but how to stop the thunderbolt, Magu, and torpedo his confirmation again in the Senate. Corrupt former governors, across parties, corrupt lawyers, corrupt civil society groups and even some corrupt media owners are now united with the leadership of the Senate to stop the confirmation of the man they have come to see as the obstacle to their continued ruination and fleecing of our common patrimony. Some of these corrupt politicians are afraid that if Magu is confirmed, the war against corruption will go up to a more dizzying height and some of them will land where they rightly belong, in jail. Others are afraid of losing the stolen wealth they have amassed; and yet others planning to become president of Nigeria with their stolen wealth, just to steal more, are looking at a dead end in their political careers with Magu at the helm of affairs at the EFCC. In any event, the Senate must prepare to face the people’s anger if they stopped the confirmation of the EFCC Chairman. Magu has earned the trust of the Nigerian people – and rightly so. Anyone fighting Magu at this time is fighting Nigerians. Nwokoroigwe wrote from Abuja

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

EDITORIAL FUNDING THE UNIVER SITIES

Government and other stakeholders must think fresh ways of funding public universities

he gates of Ladoke Akintola University of Technology were opened to students recently after some eight months of closure. The university was shut down last June due to the failure of the joint owners–Oyo and Osun States–to fulfil their shared funding responsibility. The states were reportedly struggling to pay a debt load to the tune of N7 billion which made it poignantly impossible for the university to perform its primary functions, including the payment of workers’ salaries. Despite the fact that the students have been recalled, there are still contentious issues to be resolved. “The truth is that there have been no efforts to ensure we resume,” said Biodun Olaniran, chairman of the local branch of Academic Staff Union of Universities (ASUU). “Students who have resumed are only here to play. One of the demands of ASUU is a letter of commitment from the owner states stating how the university would be funded and how salaries would be paid,” a demand the owner states considTHERE IS NO WAY WE CAN ered impudent. DEVELOP OUR COUNTRY Insufficient cash UNTIL EFFORTS ARE flow has become a MADE TO REVITALISE KEY crushing burden in SECTORS LIKE EDUCATION public universities in Nigeria. The weak financial conditions in the universities are exacerbated by the current crippling economic crisis afflicting the nation. Besides personnel costs, funds are required to rehabilitate dilapidated facilities, purchase consumables and research capability. And frequent bursts of strikes have become a routine weapon used by university staffers to force the authorities to listen to their plight. It is noteworthy that the federal government and ASUU had for several years been locked in a running battle over the implementation of agreements on the funding of the country’s public universities. Indeed, the most recent nationwide strike was triggered by complaint that the Buhari administration had consistently refused to implement the ASUU-

Letters to the Editor

FG agreement reached in 2009. The union identified the poor funding of universities, non-payment of earned academic allowances, part-payment of salaries, and the inclusion of universities on the Treasury Single Account (TSA) as their main concerns. The state of many Nigerian university campuses today is rather pathetic. In many of the public universities there no serious academic work due to internal problems. Academic activities have been paralysed at the Federal University of Technology, Akure, over issues of fraud and corruption. At the University of Calabar where lecturers went on strike, Chairman of the local ASUU chapter, Dr Tony Eyang was particularly concerned about the application of the TSA to universities.

B T H I S DAY

EDITOR IJEOMA NWOGWUGWU DEPUTY EDITORS BOlAJI ADEBIYI, JOSEph UShIGIAlE MANAGING DIRECTOR ENIOlA BEllO DEPUTY MANAGING DIRECTOR KAYODE KOMOlAFE CHAIRMAN EDITORIAL BOARD OlUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

T H I S DAY N E W S PA P E R S L I M I T E D

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ut strikes contribute significantly to the decline in the quality of graduates of our public universities. The hurried academic calendars, following the end of industrial actions allow for very little attention to serious studies or research. These have debilitating effects on educational development. That may account for why our public universities have continued to slide down the ladder of academic rankings, even among their peers in Africa. However, we cannot shy away from the fact that the under-funding of the education sector has had collateral damaging effects on the country. But dealing with the challenge of thin liquidity requires more than seasonal strikes by the lecturers while governments also need to understand the primacy of constant dialogue, especially given the current realities. Therefore, going forward requires other critical stakeholders in the education sector joining in the efforts to find a lasting solution to what has become a perplexing national challenge. In doing this, the federal government should take the initiative so that we can collectively come up with ways to reposition tertiary education in our country. It is unfortunate that disputes are always occasioned by broken promises and unfulfilled agreements. Yet there is no way we can develop our country until efforts are made to revitalise key sectors like education.

TO OUR READERS Letters in response to specific 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.

NIGERIA’S PERILOUS AND TRYING TIMES

his is not the best of times for the generality of Nigerians. Never before - save for the period when the Nigeria-Biafra war raged- had we experienced such excruciating economic hardship as we are passing through now. But we cast our votes for Muhammadu Buhari, our current president, in the hope that he would better our lots in life and take Nigeria to a great technological height. During the 2015 presidential election campaign, his legendary Spartan lifestyle, avuncular disposition, and distaste for corruption won us over to his side. And Dr. Goodluck Jonathan’s lack-lustre, inept, tardy, and uninspiring political leadership helped Buhari’s political cause too. Again, we should remember that Buhari contested the 2015 presidential poll on the political platform of All Progressives Congress, the slogan of which (change) resonated with us. Having contested the presidential poll four times before clinching the presidential diadem, President Buhari ought to be very familiar with Nigeria’s hydra-headed and multi-farious problems. He could have articulated and formulated policies and programmes of action before taking the oath of office. So, after his assumption of office, we expected him to hit the ground running. But it didn’t happen. In fact, it is sad that President Buhari’s occupation of the highest political office in Nigeria has led to his demystification. Now, it’s obvious to us that a man’s zeal for political leadership is not a proof that he posses leadership qualities, and a guarantee that he will turn around his country’s economic fortunes. President Buhari’s actions, inactions, and frequent overseas medical trips have portrayed him as a man who is ill-equipped, both mentally

and physically, for the rigours of political leadership of Nigeria. In the United Kingdom and America, their prime minister and president named members of their executive cabinets soon after they’re elected into offices. But it took President Buhari eon period to cobble together an executive cabinet that is filled with tired, retired, recycled, and incompetent politicians and technocrats. Most of them can be likened to putting square pegs in round holes. The unpalatable fact is, over the years, President Buhari hasn’t weaned himself of religious bigotry and ethnic chauvanism. So ethnic and religious factors and party membership influenced and informed his choices of people, who are members of the executive cabinet. It is an indisputable fact that his federal appointments are lopsided in favour of a section of the country. When merit is sacrificed on the altar of sectionalism and other primordial and selfish interests, national development will be put in abeyance. Now, Nigeria’s economy has gone into recession owing to the slump in global oil prices and this political administration’s jejune and misconceived economic policies. Consequently, some banks as well as companies had shed off some of their workers. That measure has compounded our country’s unemployment problem. More so, many states in the federation are so financially distressed that they owe their workers backlog of salaries. As a consequence, millions of children of school ages engage in child labour to augment their parents’ income. They are out of school as their parents cannot afford to keep them in school owing to the economic hardship besetting Nigeria. Chiedu Uche Okoye, Uruowulu- Obosi, Anambra State

OSAGIE EHANIRE AND OUR HOSPITALSTIMES

ur medical doctors are known to be more interested in money than saving the lives of their patients, even in an emergency situation. It is not arguable that on several occasions patients are rushed to hospitals and doctors asked for certain amount of money to be deposited before they can commence treatment on patients. Many patients have lost their lives because of the callous attitude of our doctors.

However, efforts made by the Minister of State for Health, Dr. Osagie Ehanire, have so far yielded a positive result as doctors can now treat their patients, most especially those in condition of emergency before asking for money unlike before. This initiative by the honourable minister should be recognised and applauded so that he can be encouraged to do more for humanity. The ongoing collaborative plan which is initiated by the minister to permanently put a halt to the issue of strike in our hospitals is a thing that should be supported by the relevant bodies to make it work for the sake of the citizenry. Let me at this point call on the minister not to relent in his efforts in ensuring that things are done right in our hospitals and to call on those working in the health sector to give him all the needed support. Alhaji Kamal Usman Sami, Apo, Abuja

WEDNESDAY FEBRUARY 22, 2017 T H I S D AY

T H I S D AY WEDNESDAY FEBRUARY 22, 2017

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

MIDWEEKPOLITICS

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

THE NEWSMAKER

EFCC: Biting More Than It Can Chew Therecentfreezingofanaccountbelongingtoahumanrightslawyer,ChiefMikeOzekhome, by the Economic and Financial Crimes Commission raises concerns about a commission that is already overstretched. Davidson Iriekpen writes

he Economic and Financial Crimes Commission (EFCC) recently bit more than it could chew, when he obtained an order from the Federal High Court in Lagos for the temporary forfeiture of N75 million in the account of a Senior Advocate of Nigeria (SAN), Mike Ozekhome, domiciled with the Guaranty Trust Bank (GTB). The court, presided by Justice Abdulaziz Anka, gave the order while ruling on a motion ex-parte filed by the anti-graft agency seeking that Ozekhome’s account be temporarily frozen. EFCC’s prayer is on the grounds that the money paid Ozekhome as professional fees were proceeds of crime. Arguing the application which was filed by Rotimi Oyedepo, counsel to the EFCC, Idris Mohammed, informed the court that the application was brought pursuant to Section 29 of the EFCC Act. He informed the court that three exhibits marked 01, 02 and 03 were attached to the motion ex-parte. He also said an affidavit of urgency, sworn to by an investigator of the agency, Tosin Owobo, was also attached to the application. Mohammed, therefore, urged the court to grant the motion ex-parte and order a temporary forfeiture of funds in the account for 120 days. Delivering a bench ruling on the motion, Justice Anka ordered that Ozekhome’s account with the sum of N75 million be forfeited for 120 days. The judge however said any party, dissatisfied with the ruling, could file an appeal. Ozekhome is the counsel for the Governor of Ekiti State, Mr. Ayodele Fayose, whose accounts had again been frozen by the EFCC for alleged money laundering. When the case came up before Justice Taiwo Taiwo of the Federal High Court in Ado-Ekiti, the EFCC lost woefully. The human rights lawyer is also counsel to Chief Raymond Dokpesi, founder of Daar Communications, who is presently standing trial for receiving over N2billion from the former National Security Adviser (NSA), Sambo Dasuki. But a shocked Ozekhome has accused the anti-graft commission of descending into the arena of politics rather than concentrating on its constitutional duties of fighting graft. He said the freezing of his accounts by the anti-graft agency was politically-motivated and calculated to embarrass him for his criticism of the All Progressives Congress (APC)-led federal government. Speaking with journalists in Ado Ekiti, last Thursday, the human rights lawyer alleged that the EFCC has become “an instrument of political oppression and intimidation unleashed by the APC government on perceived opponents and critics.” He vowed to file a suit against the EFCC to reverse the blocking of his account “very soon.” The lawyer said he was being punished for defending Fayose, his aides and associates in series of court cases in the country, saying the money paid to him was his legitimate professional fee which had nothing to do with money laundering. He said: “I can’t be ruffled for this action, because I have not done illegal, illegitimate or illicit or something out of the ordinary. Governor Fayose paid me my professional fee, which was a sum of N75million out of the humongous amount owed me over cases I am handling for him, his aides and friends. “I am currently prosecuting eight cases on his behalf – the ones involving Abiodun Agbele and Zenith Bank, Femi Fani-Kayode’s wife and others. As a professional, I had given my professional fees but the governor could not pay because his accounts had been frozen by EFCC, which makes the governor financially strangulated.” No doubt Ozekhome’s case is the latest in the series of highhandedness exhibited by the

Magu...battling on all fronts

EFCC under its acting Chairman, Ibrahim Magu. Last year, in a daring tone, Magu stunned the nation with a declaration that senior lawyers in the country were hampering the fight against corruption. The EFCC boss who was apparently incensed by what he alleged was damning evidence against a senior lawyer, Mr. Ricky Tarfa, spoke in general terms during a visit to his office by a coalition of civil society groups, as part of their sensitisation programme against corruption. He accused top lawyers of assisting corrupt elements, who had looted the nation’s treasury to fight the EFCC and escape punishment for their economic crimes. He said: “One of the big challenges we have in the effective prosecution of the war on corruption is that of very senior lawyers, who Nigeria has been very kind to: those who went to good schools here, when Nigeria was good, many of them, on government scholarship; they whom Nigeria had given so much opportunity. “When we have corruption cases, cases of people who have stolen food from the mouths of our children; when we have cases of people who have stolen money meant to build hospitals and buy drugs; when we have cases of people who have stolen all the money meant to buy guns for our soldiers to fight Boko Haram. “When we have all these cases of wicked people who have stolen Nigeria’s money, they run to these same senior lawyers, give them part of

While a generality of the people want the commission to deal with the unscrupulous characters, they wonder if the EFCC boss knew that no matter how grievous a crime is the culprit or defendant would certainly need a lawyer to defend him/her and professional fees paid. They also wonder if the anti-graft lawyer does pay the lawyers it uses to prosecute its cases against alleged corrupt persons

the stolen money and mobilise them to fight us, to delay us in court and to deny Nigerians of justice. These are the people who do not want justice for the common man.” It is not only lawyers that the EFCC boss has so far criticised. He had equally at in different fora taken a swipe at the judges for frustrating the fight against corruption only to quickly withdraw his statement. It was the fallout of these comments that a sting operation on judges of courts and justices of the Supreme Court were carried out last October. Today, a number of these judges are standing trial for corruption-related offences. Also standing trial are some senior lawyers such as Dr. Joseph Nwobike, Joe Agi, Ebun-Olu Adegboruwa and others under investigation. Many cannot understand Magu’s disdain for lawyers for doing their job. While a generality of the people want the commission to deal with the unscrupulous characters, they wonder if the EFCC boss knew that no matter how grievous a crime is the culprit or defendant would certainly need a lawyer to defend him/her and professional fees paid. They also wonder if the anti-graft lawyer does pay the lawyers it uses to prosecute its cases against alleged corrupt persons. In criminal justice, it is trite that a suspect charged in court must engage the services of a legal counsel and must be paid professional fee except the lawyer chooses to handle the case pro bono (free of charge). To explain how important a lawyer/counsel is in criminal justice system, if a defendant is unable to afford a counsel, the state often weighs in to bear the burden. This is why observers have warned that rather than continue to criticise and intimidate lawyers, the EFCC boss should ensure that he puts together a brilliant prosecution team to counter the defence lawyers. If a lawyer brilliantly defends his client and secures his freedom, how is that a crime? Before the appointment of Magu at EFCC, successive chairmen of the commission had often attributed different reasons why the agency under them did not perform optimally. While the first chairman of the commission, Nuhu Ribadu, identified his challenges to include lack of law by the executive arm of the government, his successor, Farida Waziri, held the judiciary (judges) responsible for her non-performance, while Ibrahim Lamorde held the executive arm of government responsible for his own failure to successfully prosecute the war against corruption. In 2011, following the heat some judges of his court received for frustrating the anti-graft agency, the incumbent Chief Judge of the Federal High Court, Justice Ibrahim Auta, was forced to pay a courtesy visit on the chairman of the

commission, where he explained that rather than blame the court for not doing enough on the corruption cases before them, the judges were often helpless as the commission in their cases make quick dispensation of the cases uneasy. Auta said the visit was “to show the world that we are ready to work with EFCC with respect to the law and to see that due process is followed always.” According to him, a situation where the charges against a suspect numbers up to 125, the judge was bound to hear all of them, a process that may take a whole day. He squarely placed the blame for the delay in trial of corruption cases on the commission’s constant amendment to preferred charges. He added that incessant amendments to charges filed by the commission and too many charges in one case for the accused to take a plea, among other such actions, amount to “dancing in one spot.” The CJ further stated that prosecution lawyers object to such charges and the judge adjourns for further hearing only to be faced with a request to amend the charge sheet or the challenge of the EFCC refusing to produce witnesses on the adjourned dates. All these, according to him, add to the length of prosecution time. Justice Auta reprimanded the commission for lacking investigative and prosecution prowess to prosecute corruption cases. He stated that bogus count charges, frequent amendment of charges and the rush to arrest a suspect without investigation was a problem for the commission. As a way out, the CJ suggested that in cases where the charges against a suspect are numerous, the key ones should be used while the less important ones should be dropped in order to save time on hearing the cases. He also suggested that the EFCC should endeavour to conclude investigations before arraigning suspects in courts so as to avoid a situation where charges would have to be amended. This way, he said corruption cases could be concluded in good time. Also, while delivering judgment in the fundamental rights enforcement suit instituted by the former Director General of the Nigerian Stock Exchange (NSE), Prof Ndi Okereke-Onyuike, against the EFCC recently, Justice Ayotunde Phillips of the Lagos High Court not only restrained the anticorruption agency from arresting Okereke-Onyuike, but lambasted the agency for always rushing to arrest suspects without evidence. The judge held that it was imperative that security agencies such as the EFCC, must first establish reasonable suspicion against a suspect before effecting his or her arrest. The judge, who urged men of the nation’s law enforcement agencies to learn from their counterparts abroad, cautioned them against being in a hurry to arrest suspects when they were yet to complete investigation and arm themselves with enough facts and evidence to secure conviction. It is against this background that the duo of Magu and the Muhammadu Buhari-led federal government are being admonished not to undermine their own legacies by enthroning a brusque and irregular method all in the name of fighting corruption. “In this country, Buhari was asked to produce his West African School Certificate (WASC) Examination result. What did he do? Rather than bringing out the result, he hired over 25 Senior Advocates of Nigeria (SANs) and other lawyers to defend him in court. So it is sad that the same Magu whom lawyers rescued when Farida Waziri almost sacked him is the one denigrating lawyers now. Let him continue, some day he will realise that he needs the services of the lawyers he is abusing now,” said a Senior Advocate of Nigeria (SAN) who did not want his name in print.

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

PERSPECTIVE

MIDWEEKPOLITICS

El-Rufai’s Misplaced Priorities KadunaStateGovernor,MalamNasirEl-Rufai’sapproachtofightinginsecurityismisplaced, writes Femi Fani-Kayode

ermit me to begin this contribution with an aside. It is only a weak, insecure, paranoid, wicked, heartless, ignorant, lawless and callous government that refuses to identify, apprehend, prosecute and hang the bloodthirsty, psychopathic and murdering Janjaweed Islamist Fulani militants and herdsmen and instead arrests an innocent and accomplished young man like Audu Maikori, who simply had the courage to cry out to the world about the killings in Southern Kaduna. I am convinced that if my old friend, Governor Nasir El Rufai wants peace in Kaduna State and in the entire country, is this the way to achieve it? Does he really believe that locking up his critics and those that have expressed concern about the killings in his state is the way forward? Does he not know that the suppression of dissenting voices and intimidation will only lead to more anger, resistance, violence and dissent? Can he not build bridges rather than burn them? Can he not make friends rather than make enemies? Here is my message to him: the people of Southern Kaduna are NOT your slaves and neither are the northern minorities, the people of the south or the Christians of Nigeria. You can lock up as many of us as you like, our faith will only continue to grow and we shall continue to go from strength to strength. Thankfully God intervened in the matter. On the afternoon of Saturday, 18th February, the Lord heard the prayers of the Maikori family and Acting President Yemi Osinbajo, who appears to be far more sensitive to the implications of locking up innocent men and women, ordered the immediate release of Maikori after he saw the storm that was brewing. This brings me to the meat of this intervention. One of the qualities that a Prince must have is the ability to speak truth to power no matter the price, no matter the consequences and no matter whose ox is gored. Today, I will share a truth which many may not like but which, as a leader and a Prince, I am constrained to share. Some have suggested that every Nigerian is compelled by God to pray for our ailing President. I disagree. I do not wish him ill or wish him dead but at the same time I do not subscribe to the view that I am compelled to pray for him. I would rather save my prayers for the thousands of Audu Maikoris of this world, who are suffering persecution and who are languishing in dingy cells all over our country for doing absolutely nothing wrong. I would rather save my prayers for the souls and families of those that have been cut short by the guns and bullets of security forces, the bombs of radical Islamic terrorists and the matchetes and knives of the Fulani militias and herdsmen. When the Holy Bible says we must pray for our leaders, the author was referring to God-fearing and Godly leaders and not usurpers and tyrants. The Bible says we must ‘resist evil’ and few would dispute the fact that with the economy in shambles, with the naira at its lowest value in its entire history, with the level of impunity and corruption in government and with the amount of brutal persecution, politically-motivated arrests and prosecutions and the massive shedding of innocent blood that goes on in our country today, the government is evil. As a matter of fact, it is a cursed government that has come to do nothing but spread death, disease, poverty, tears, hardship, suffering, division, hatred, persecution, injustice, destruction and wickedness. To those that insist that even evil tyrants are worthy of our goodwill and prayers, I put the following questions: would you have prayed for Herod, Pharaoh, Belshazzar, Nebuchadnezzar, Jezebel, Ahab, Athalia, Nimrod, Adolf Hitler or Idi Amin?

El-Rufai...how not to contain insecurity

Again, would you have had night vigils or made passionate supplications for Emperor Bokassa, Josef Stalin, Pol Pot, Nero, Caligula, Sennacherub, King Leopold 11 of Belgium, Count Vlad the Impailer of Transylvania and Tsar Ivan, the Terrible of Russia? Would you have conducted Holy Mass or rolled your rosary for Osama Bin Ladin of Al Qaeda, Muhammed Al Baghdadi of ISIL, Abubakar Shekau of Boko Haram or Usman Dan Fodio of the Fulani Caliphate? Again would you have fasted and prayed for Atilla the Hun, Genghis Khan, Kaiser Wilhelm 11 of Germany, the Inca and Aztec Kings of South America, the Borgias of Spain, King Darius of Persia and so many more of history’s monsters and beasts to remain alive and to continue to torment and rule their people? Do you know that those listed above collectively killed or caused the deaths of over 500 million people between them? Do you really believe that they were God’s choices and that it was wrong to pray them out or remove them from power? Did God make a mistake when He killed Pharaoh and slew Herod for their wickedness and evil against the children of Israel AFTER their victims rose up in prayer and cried to Him to deliver them? Did you read anywhere in your Bible that the holy Prophets and believers prayed for the wicked Kings and rulers to continue to rule? Did Elijah not oppose Jezebel and did David and Samuel not renounce and stand against Saul? Do you not know the difference between a righteous ruler whom God loves and whom He installed and a blood-sucking

Do you know that Nigeria under President Buhari is a failed state which lives on lies, thrives on deceit, breathes on persecution, feeds on suppression, energises on intimidation and is fuelled and propelled by the most basic, crude and primitive form of Goebellian propaganda?

demon and vicious tyrant whom the devil is using? Do you know the number of people that have been killed under this government whether they are Biafran and IPOB youths, Shiite Muslims or Christian refugees? Do you know the number of Christians that are being slaughtered in the north on a daily basis by Fulani militias and herdsmen? Do you know that Buhari once said that an attack on Boko Haram is an attack on the north? Do you know that he once said he believes that sharia should be spread throughout the federation? Do you know that he once said Muslims should only vote for Muslims? Do you know that he once said Christians should not be concerned about sharia because it is the limbs of Muslims that are being cut off and not theirs? Do you know that he once went to Oyo State and accused Governor Lam Adesina’s “people” (meaning the Yoruba) of killing his own Fulani people? Do you know that the Minister of Information of his government, Lai Mohammed, once said it was wrong and unconstitutional to proscribe and ban Boko Haram? Do you know that about one year ago, the same Mohammed said Boko Haram had been “technically defeated” and a few days ago, he said it was “a fallacy” to say Muslims killed Christians in Nigeria? This was after 808 Christians were slaughtered in cold blood on Christmas eve and Christmas day a few weeks ago. Do you know that Buhari is the third Mahdi of Nigeria? The first was Usman Dan Fodio, the second was Sir Ahmadu Bello and Muhammadu Buhari is the third. Do you know that their vision and dream is for the Fulani to be the “first amongst equals” and to conquer, rule, dominate and subjugate the people and numerous ethnic nationalities that make up Nigeria in perpetuity? Do you know that they have gone very far in this quest and almost achieved their objectives? Do you know that restructuring the nation or, failing that, a complete break up of Nigeria into two or more pieces is the only thing that can save the people of the south and the Middle Belt from serfdom and slavery? Do you know that Herbert Macauly, Bode Thomas, Obafemi Awolowo, Kaduna Nzeogwu, Emmanuel Ifeajuna, Victor Banjo, Fajuyi, Emeka Odimegwu-Ojukwu, J.S. Tarka, Isaac Boro, Solomon Lar, Josiah Olawoyin, Paul Gindiri, J.D. Gomwalk, Silas Janfa, Zamani Lekwot, T.Y. Danjuma, Jolly Tanko

Yusuf, Gideon Orkar, Ken Saro-Wiwa, Tony Nyiam, Saliba Mukoro, MKO Abiola, Bobo Nwosisi, Franklin Atake, Alfred Rewane, Abraham Adesanya, Ayo Adebanjo, Olaniyonu Ajayi, Bola Ige and so many others that saw this satanic agenda coming many decades ago and resisted it with every fibre of their being have now been vindicated? Do you know that the principle of selfdetermination and the concept of Biafra and southern and Middle Belt liberation are more alive today than ever before? Do you know that there are millions of youths all over this country today that are prepared to sacrifice their lives for this principle and concept and resist ethnic and religious bigotry, subjugation, domination and tyranny with the last drop of their blood? Do you know that those that have been subjected to genocide by the usual suspects for the last 56 years of our existence as a nation are now saying “enough is enough?” Do you know what northern Christians have been and are still being subjected to over the years and particularly today? Do you know that Igbo youths and Shiite Muslims have been subjected to crimes against humanity by the Nigerian state in the last one year and seven months? Do you know that Nigeria under President Buhari is a failed state which lives on lies, thrives on deceit, breathes on persecution, feeds on suppression, energises on intimidation and is fuelled and propelled by the most basic, crude and primitive form of Goebellian propaganda? Do you know anything at all? Do you know how many people are being locked up and persecuted in the name of a fake and selective anti-corruption war in this country? Do you know the level of wickedness and injustice that is being perpetuated by this government? Do you know how many families have suffered and destroyed by them? Do you know about the abuse of power and the gross violation of human rights and civil liberties that are going on? Do you know how corrupt and deceitful this government is? Then you say that we should pray and support such people? There is nowhere in the Bible that we are called to pray for liars, cheats, sadists, anti-Christ, cold-blooded murderers and psychopaths as our leaders. Rather, the Bible says we must resist evil and injustice and stand up for the weak, the persecuted, the hungry, the suffering, the vulnerable and the poor. There is nowhere in the Bible that we are enjoined to support and encourage genocidal maniacs, the killer of believers, the tormenters of the faithful, the persecutors of God’s servants and the destroyers of the Church. Nigeria has no place for quislings and psychopaths that are trying to curry favour with or impress those that are desperately trying to enslave our people and Islamise our country. My position is simple and clear. I will never pray for those I consider evil and I will never allow myself to be subjugated, silenced or turned into a second class citizen in my own country. Whatever the consequence for my defiance, if the Lord wills it, let it come. Let us finish this thing once and for all. I would rather be a free soul in heaven than a quivering and gutless slave on earth. I speak for millions when I say that we will NEVER bow to those that believe that they were born to rule and seek to impose their faith, their values and their way of life on us. Unlike others in these shores, those of us that are prepared to stand up and say “no more” are captains of our ship and masters of our soul. It is either we forge our own destinies, chart our own course and free our own people or we shall die trying. God wills it. And so it shall be. -Fani-Kayode is a former Minister of Aviation

WEDNESDAY, February 22, 2017 • T H I S D AY

FEATURES

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

Succour for Mother of Triplets

Adibe Emenyonu writes on the support of the Edo deputy governor’s wife, Maryann Shaibu, to an abandoned mother of triplets

any for years have prayed for the fruit of the womb. Some even resort to all manner of means to actualise their dreams especially when they feel that all hope is lost in the quest to have at least a child after many years of wedlock. Fortunately for Mr. Matthew Ndukwe, a commercial tricycle rider from Enugu State, who resides in Lagos with his wife, such harrowing experience was never his portion as he did not wait for longer time before his wife, a native of Ogwua, in Esan West Local Government of Edo State got pregnant and delivered twin babies to the glory of God. This came to him by surprise because he did not expect that the wife’s first pregnancy will produce two kids at the same time. What a bundle of joy! This joyous moment however faded away few years after the delivery of the twins and the wife got pregnant again. The bad news about the pregnancy is that his wife, Queen Ndukwe was carrying triplets in her womb according to a medical scan. “From that moment, he warned me that if it is true that I am going to give birth to triplets, he will run away from the house,” Mrs. Ndukwe said amidst sob wondering why what could have been a source of joy to the family suddenly turned her husband into a sorrowful mood.

I am doing this because of God. Children are blessings from God, so, we will not allow them to die of malnutrition and lack. I want the father of these lovely gifts from God to come back home and show love, warmth and care for his family. The God who gave him these children will surely provide for him to take care of them

Wife of Edo State deputy governor, Maryann Shaibu (2nd right), presenting baby care items to abandoned mother of triplets, Queen Ndukwe (2nd left) in Benin… recently The man actually kept to his threat when the babies were delivered, a baby boy and two baby girls. The worst is that the man absconded, leaving his wife and triplets in the hospital, including the two children at home who were waiting eagerly to behold their siblings. Having waited for months after her delivery without seeing her husband, Queen had no other option than to head towards her home state, Edo, to seek for help from her immediate family because the burden of catering for five kids was becoming unbearable with no food to eat. Even after some good Samaritans assisted her to pay the hospital bill, things became harder for her as she could no longer resume her vocation and at the same time look after the new born babies as well as the older ones who are not even up to seven years of age. She said she decided to cry to government since her husband, Matthew Ndukwe who hails from Enugu State abandoned them when they needed him most. Moreso when her immediate relations were tired of paying their bills. The distressed woman was forced to cry out to the public when the cost of taking care of the home, five children in two attempts became unbearable. However, respite came her way and the set of triplets as the wife of the Deputy Governor of Edo State, Mrs. Maryann Shaibu, visited the family in Benin City, the state capital. Shaibu who expressed displeasure at the condition she met the malnourished kids, immediately directed that the babies be referred to her Paediatric Centre for proper medical care. Apart from that, she also donated undisclosed amount of money in cash along with some baby care items, milk and food stuff, with a promise to help her establish her business as a stylist.

Mrs Shaibu (right) with mother of the triplets, Queen Ndukwe Father of the triplets, Matthew Ndukwe was said to have fled from the home when news got to him that his wife had triplets after the set of twins in their first attempt. The deputy governor however assured the nursing mother of more assistance to ensure that the babies are well taken care of. According to Shaibu, “I am doing this because of God. Children are blessings from God, so, we will not allow them to die of malnutrition and lack. “I want the father of these lovely gifts from God to come back home and show love, warmth and care for his

family. The God who gave him these children will surely provide for him to take care of them.” Responding, the highly elated Queen thanked the deputy governor ’s wife for coming to her rescue, saying that her timely intervention has prevented what would have been a disaster to her family, especially the fragile triplets. “My letter got to government on Friday, February 10, 2017 and I started getting response from them through the deputy governor ’s wife the following day. I can’t thank her enough. Only God can reward her,” she said.

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

PERSPECTIVE

Nigeria: Still Toying Around with Health

Odimegwu Onwumere is concerned that Nigeria only marginally improved the 2017 budget for the health sector from 3.65 per cent in 2016 to 4.15 per cent, but is still a far cry from the 15 per cent recommended by WHO and African Heads of State

“T

he House of Representatives has faulted the allocation of 304 billion naira to the health sector in the 2017 budget,” said the media on January 30, 2017. This suggests that the country’s health sector may be heading towards financial challenges this year due to unseemliness in the besmirched proportion of money allocated to the sector in the 2017 budget. Given the financial downturn that the country is facing, the assurance to achieve exhilaration in the child health, nutrition and family planning could be a tall dream as N500 equals a dollar, whereas the budget was asked for N197/1USD. There would be no gainsaying the fact that the N304 billion 2017 budget that was allocated to the Ministry of Health was a child’s play. The country merely touched the health budget of 2017 from the fraction of 3.65 per cent it was in 2016 to 4.15 per cent, as against what the World Health Organisation (WHO) and African Heads of State declared in a meeting at Abuja in 2001, where there was an accord that every country should apportion 15 per cent for healthcare in its yearly budgetary expenditure. T h e Partnership f o r Advocacy in Child and Family Health (PACFAH) in teamwork with the Health Reform Foundation of Nigeria (HERFON), grieved in a seminar that Kaduna, Nassarawa and Oyo states were aloof in taking issues pertaining to family planning programme in the health segment of their 2017 budgets seriously, as a study conducted by HERFON revealed. Other states like Bauchi, Kano, Niger and Lagos in their respective 2017 budgets for health were stained. In Lagos for instance, analysts said, “Although the entire budget increased by N150 billion when compared to the 2016 budget of N662.6 billion, the health budget reduced from N64 billion which represents 9.76 per cent of the total budget in 2016, to N57.29 billion, representing 7.05 per cent in 2017.” From all angle, how the health sector was being treated in the country has raised eyebrows in different quarters. On December 20, 2016, the Pharmaceutical Society of Nigeria (PSN) threw its weight against the allotment for healthcare by President Muhammadu Buhari-led government in the 2017 budget. What the presidency of Buhari has done may be termed as retrogression in the sense that countries like China had 12.6 per cent for that purpose, while Turkey had 10.7 per

cent in the year 2015, while United States had 20.7 per cent a n d

Germany had 19.4 per cent, and Iran had 17.5 per cent for their healthcare systems. It was only in 2012 that health spectators believed was the best Nigeria has done in Health allocation of 5.95 per cent. However, Bauchi State had mapped out 16 per cent of her 2017 budget for health, above the 15 per cent that was the hope of the WHO for countries and above Nigeria’s 4.15 per cent. Today, critics are appraising Governor Abdullahi Abubakar of the state for this singular act, saying that he meant well in the 2017 budget of N145 billion tagged ‘Budget of Sustainable Development’ which has a planned periodic disbursement of N58 billion equal to 40 per cent of the overall budget and capital outlay of N86 billion 60 per cent of the total budget. Kaduna might have gone lower than expected with her N10.49b for health from the total budget figure of N214.9 billion encompassing of N83.46 billion periodic spending and N131.45 billion in capital expenditure. This money for the health sector in Kaduna, in earnest, may not take care of what Governor Nasir el-Rufai of Kaduna State charcterised as “an Emergency Nutrition Intervention Programme to reduce malnutrition and hunger amongst our poorest citizens and children.” Likewise, the N10 billion that was allocated to the Health Ministry by the Kano

State Governor, Abdullahi Ganduje from the N209.8 billion 2017 budget proposal could not be enough. Taking a look on what the governor spent on malaria alone before September 2016, one would say that his budget dubbed ‘Budget of Sustainable Self Reliance’ is the obverse. Evidence was that on September 22, 2016, Ganduje made it public that his government had acquired drugs and diagnostic equipment at the value of N59m to combat malaria in the state. And if

every part of health in that state gulp such an amount, it then means that the N10 billion was an amount meant for the wallet. It could be said that Niger State’s N108b budget for 2017, the health sector had nothing to boast about no matter the opinion of yesmen saying that the Niger State Governor, Abubakar Sani Bello was head bent on tackling health issues in the state. Again, looking at the total budget in the state, there will not be a better word to say that the sum was miserly. Coming to Nasarawa State, the lawmakers even pushed for a bigger health allotment in the state’s 2017 budget. Sadly, they once kept the health budget in 2017 under the carpet. There were reports suggesting that “Partnership for Advocacy in Child and Family Health into how Nasarawa financed its health sector between 2012 and 2014 showed less than half of allocation appropriated for health in each year was actually paid out to ministries, departments and agencies. Only N2.4 billion out of N5.4b was released in 2012; N4.2b out of N8.2b was released in 2013 and N4.3b out of N11.8b was released in 2014.” I m a g i n e . The effects of the clumsiness in Nigeria’s health budget were that in 2016 alone, resident doctors of 25 teaching

hospitals across the country, embarked on strike because of financial irregularities from the government to reach their needs. In a country where there is no functional cancer treatment centre, many medical doctors have left the country in search of a better living in other climes. There were reports suggesting that only 21, 000 of Nigerian medical doctors registered with the Medical and Dental Council are working in the country from 80,000 the number was. The highlight of this was that the doctors were leaving the country given that doctors working for government in other countries like South Africa merit about N300,000 individually in a month, whereas those in Nigeria gain about N170,000 individually, per month, and often owed for months. The House of Representatives Committee on the Diaspora was thrown aback in the surge of migrating Nigerian doctors and raised eyebrow, saying that in the United States of America, Nigerians consist about 77 per cent of dark-skin doctors working in that country. In some arguments, it’s understood that no matter the 4.15 per cent the national health sector was raised to in this year’s budget, the 3.65 per cent it was in 2016 was far better, because of the financial collapse that has engulfed the country, where the currency continues to depreciate than has ever been heard of in the country’s history. PACFAH once captured this view thus, “The total sum of N304 billion has been proposed for the Federal Ministry of Health, amounting to 83 per cent for recurrent expenditures (salaries and overheads) and 17 per cent for capital expenditure (health infrastructures and services). “This 2017 proposed Ministry of Health budget is 4.17 per cent of the national budget, a poor improvement on the 2016 budget of 4.13 per cent. With about 80 about improvement in terms of capital expenditure of the 2017 proposed budget compared to that of 2016, the reality is that this proposed health budget is cumulatively lower than that of 2016 due to the skyrocketed foreign exchange value of a naira to dollar.” Dissecting that, the N304 billion was budgeted when the Central Bank of Nigeria doweled the trade rate at N197/1USD. “Mid-year of 2016 and for the 2017 proposed budget, the exchange rate is at N305/1USD. As a result, while 2016 health budget was $1.269m, the proposed 2017 health budget is less by 21 per cent at $0.997m. This is important because most of our health services are reliant on importation,” the source bemoaned.

IMAGES

L-R; Teacher, Reagan Memorial Baptist Girls’ Secondary School, Yaba, Mr Noah Ayandele; Chisom Okonkwo Ruth lheasonye; Special Adviser, European Space Agency and Chairperson of the Jury, Haignere Claudie, lfeoma Odimegwu, Temitope Odusanya and Jessica Nwenyi during the DStv Eutelsat Star Award Outreach held at the Government College, Victoria Island, Lagos...recently

THISDAY •WEDNESDAY fEbruArY 22, 2017

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

L-R: Legal Adviser, Nigeria Resources Brain pageant(NRBP), Mrs. Somie Okorafor; Project Manager, NRBP, Mr. Samuel Adeleye and Coordinator, NRBP Mr. Hakeem Sunmonu, during the press conference organized by NRBP on the forth-coming of first Miss. And Mr. Nigeria resources brain pageant in Abuja...recently ENOCK REUBEN

L-R; Managing Director/CEO, FilmOne Production and Distribution, Kene Mparu; Director, The Wedding Party, Kemi Adetiba; Executive Producer, The Wedding Party, Mo Abudu; COO, FilmOne Production and Distribution, Moses Babatope; and Managing Partner, Ink blo and Production, Naz Onizo, at the weeding party record breaking celebration in Lagos...recently sunday adigun

L-R: Adebisi Braimah, Abisoye Solarin, Darlington Okonkwo, Keke Nlewedim, Layo Fashanu, Adedayo Alimi, Joshua Wang,and Oluwaseyi Adeosun,all PAL Pensions team during the Lagos marathon race....recently

L-R: Secretary, Lagos State Christian Pilgrims Welfare Board, Mrs. Yetunde Gbafe; Board Member. Sir Folusho Adekoya;; Permanent Secretary, Ministry of Home Affairs, Mrs Toyin Awoseyi; Chairman, Lagos State Chistians Pilgrims Welfare Board, Bishop Sola Ore; Board Members, Mrs Arinola Ajose and Pastor David Deile, during a courtesy visit to the Office of the Permanent Secretary, in Alausa Ikeja...recently kola olasupo

L-R: PR & Communications Lead, OLX Uche Nwagboso; Lagos State Commissioner for Science & Technology, Olufemi Odubiyi; Senior Manager, Business Development, OLX Mayokun Fadeyibi and Business Operations & Finance Manager, Goodluck Ikporo during a courtesy visit to the Ministry of Science and Technology’s office in Ikeja...recently

L-R; Chairman, Senate Committee on Gas Resources, Senator Bassey Albert Akpan; Chairman, Senate Committee on Downstream, Senator Kabiru Marafa and Deputy Governor of Akwa Ibom State, Obong Moses Ekpo at the opening session of a 4 day retreat of NASS Joint Committee on Petroleum Resources in Uyo, Akwa Ibom State... recently

L-R; Board member Teach For Nigeria, Mrs Audrey Joe-Ezigbo; Board member Teach For Nigeria, Mrs Nike De-Souza; CEO, Teach For Nigeria,,Ms.Folawe Omikunle and Board member Teach For Nigeria, Mrs Folasade Adefisayo at the formal launch of Teach for Nigeria and launch of Fellows Programme in Lagos...recently

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

BUSINESSWORLD R A t E S NIBOR OVERNIGHT 1-MONTH

A S

A t

J A N U A R Y

NIBOR 11.7083% 17.6546%

3-MONTH 6-MONTH

19.0199% 22.2853%

NITTY 1-MONTH 2-MONTH

Group Business Editor Chika Amanze-Nwachuku

Email chika.amanzenwachukwu@thisdaylive.com 08033294157

1 9 ,

16.5577% 14.0684%

3-MONTH 6-MONTH

2 0 1 7 17.1394% 18.6901%

EXCHANGE RATE N305.50//1US DOLLAR* *AS At LASt FRIDAY

Quick Takes Nigeria, US to Strengthen Trade

TheU.S.ChamberofCommerce’sU.S.-AfricaBusinessCenterrecently hosted the Nigerian Minister of Industry, Trade and Investment Dr. Okechukwu Enelamah for a roundtable discussion with U.S. business executives at their office in Washington, D.C. The conversation focused on enhancing trade and investment relationship between both countries. The event came I n the context of a telephone call between President Muhammadu Buhari and President Donald Trump last Monday, where both Presidents discussed security and economic issues. It is seen as suggesting the U.S. consideration of Nigeria as a strategic partner. “The U.S. has historically been one of Nigeria’s top trading partners; it was the biggest importer of Nigeria’s crude oil at some point. In the last five years, however, the sharp decline in U.S. imports of our crude, on account of rising domestic production of shale, has altered the trade balance between our two countries. “This development presents Nigeria with a good opportunity for diversification and to explore and increase non-oil export – especially in agricultural products, services and the digital economy,” Enelamah said.On his part, the President of the U.S.Africa Business Center and Vice President for African Affairs at the Chamber Scott Eisner, stated that “With the largest economy in Africa, Nigeria is an important partner for U.S. businesses. Our conversation highlighted the work being done to strengthen the economic relationship between our two countries and how we can continue to build on this relationship.”

ALL FOR GREEN BOND

L-R: Permanent Secretary(PS), Ministry of Budget and National Planning, Mrs. Fatima Mede; PS, Ministry of Environment, Alhaji Hassan Bukar and PS, Ministry of Finance, Alhaji Isa Dutse, during Green Bond briefing session in Abuja…recently

PFAs Invest N482 Billion of Pension Assets in Equities Market Goddy Egene The value of pension assets invested in the Nigerian equities market rose to N481.8 billion at the end of November, up from N445.88 billion in January 2016. The assets under management of the Nigerian pension industry stood at N6.02 trillion as at the end of November, according to the National Pension Commission (PenCom). And an analysis of the figures showed that N481.8 billion are in equities, indicating 8.02 per cent of the total value. Although the growth is marginal, market analysts said it is an encouraging development considering the fact the growth was recorded in a year that the market suffered its third consecutive decline. Besides, pension fund administrators

CAPITAL MARKET (PFAs) have been avoiding the equities market for fear of losing their investments due to what they suffered during the market crash of 2008 and 2009. While PFAs are allowed by law to invest about 25 per cent of their pension assets in equities, the level is about eight per cent. Most of their investments are in federal government bonds. PFAs prefer government securities, investing about 71 per cent of the assets in bonds and treasury bills at the end of November 2016. The federal government bonds attract the highest investment of N3.536 trillion or 58.7 per cent, while treasury bills attracted N749 billion. However, some market

analysts said despite the bearish market, PFAs could still successfully navigate the market and make good returns on their investments, saying what they need is the expertise to analyse and make the right investment decisions. “We all agree that the market has been down for the past three years. But amidst this volatility, people are still making money from the market. Last year for instance, while the Nigerian Stock Exchange (NSE) All-Share Index declined by 6.17 per cent, some stocks delivered returns as high as 50 per cent. What really matters is the ability of PFAs to identify value stocks using their expertise instead focusing only on government bonds,” a broker said. In a bid to increase the pension assets, PenCom said

it was targeting 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. ChineloAnohu-Amazu, who stated this in Lagos, noted that the decision was based on the number of people in the informal sector. 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 Continued on page 24

KPMG: Consolidation Will Transform Insurance Sector Nume Ekeghe The Partner Audit Services and Insurance Sector, KPMG, Mr. Kabir Okunlola has said that a consolidation exercise for the insurance sector would help increase investor appetite and generally transform the industry. Okunlola, who made the remark in an interview with THISDAY on Monday, revealed that the federal government was considering measures to revamp the insurance sector. According to him, transformation was inevitable in the insurance industry. He noted that the underperformance by

INSURANCE the sector in the last couple of years cannot continue. “And for that to happen, you fundamentally need to address some key areas on governance. I’m happy because regulators are looking in the same direction. They have issued what they call 2017 priorities areas,” he said. Okunola added: “They are looking at governance, cost in the sector and also capitalisation and some other strategic areas to help the sector to consolidate and have the right scale to target the opportunity in the sector.

“The insurance industry continues to be a big centre of attention for both the government and the private sector. The opportunities are very big. However, in terms of play, it has been underperforming and that is why there is a lot of attention from the private sector, from government on what we need to do to move the insurance sector to achieve its potential. “In other develop market, insurance industries own banks. But in Nigeria, banks used to own insurance companies before banks were asked to divest from the insurance industry.” He argued that the sector

presents a lot of opportunities, despite the fact that it had continued to underperform. Okunola noted that the sector remains fragmented, saying that there about 56 insurance companies in the country. “When you look at banks, they are far bigger. We have less numbers of players. The right focus to achieve that depth in the sector hasn’t happened. You still have the top six insurance companies owning and controlling more than 60 per cent of the market and that means the other 50 Continued on page 24

GTBank Appoints Lawal New ED

The Board of Directors of Guaranty Trust Bank Plc (GTBank) has announced the appointment of Mobolaji Lawal as an Executive Director of the bank. Prior to his appointment, he was the Divisional Head, Digital Banking Division. Lawal joined the bank in 1992 as an executive trainee and rose through the ranks to become a General Manager, a position he held until his appointment as Executive Director. He has over 24 years’ of banking experience which covers various aspects of banking including Credit Risk Management; Corporate Banking Group; Commercial Banking Group; Investment Banking and Corporate Finance where he served as Group Head. Under his leadership, the Group worked on several landmark debt syndications, capital market and project finance transactions both in Nigeria and abroad. HeholdsaBachelorofLawdegreefromObafemiAwolowoUniversity (1990); B.L from the Nigerian Law School (1991) and a Master of Business AdministrationfromtheOxfordUniversity,UnitedKingdom (2002). He has also attended several executive management and banking specific developmental programs in leading educational institutions such as Harvard Business School, Stanford Graduate School of Business and Institut Européen d’Administration des Affaires (INSEAD). Announcing the new appointment, the Managing Director/Chief Executive Officer of the Bank, Mr. Segun Agbaje stated that: “As a bank, we maintain high corporate governance standards and ensure our Board appointments are in line with global best practices. “Bolaji has been an integral part of the Bank’s success and has seen the bank evolve and develop through the years.

WorldRemit Eyes Tanzanian Market

Digital money transfer service WorldRemit is consolidating its rapid expansion intoTanzania, supporting the growing demand for instant remittances to the country from over four million expatriates living abroad. WorldRemit customers can send money to Tanzania via Mobile Money to Tigo Pesa, Vodacom M-Pesa and Zantel Ezy Pesa Mobile Money accounts, as well as bank deposit and cash pick up. The biggest senders to Tanzania include migrants currently living in the UK, Sweden, Australia, Norway and Canada, amongst others. With WorldRemit, people in more than 50 countries can send instant, secure transfers to more than 140 destinations. Known as the ‘WhatsApp of money’, WorldRemit makes sending money as easy as sending an instant message. Remittances play an important role in the economy of Tanzania – in 2015 the country received a total of $390 million according to the WorldBank, almost ten times the amount received in 2010.

“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” CEO, Seplat Petroleum Development Company Plc

Mr. Austin Avuru

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

BUSINESSWORLD PFAS INVEST N482 BILLION OF PENSION ASSETS IN EQUITIES MARKET roots and make sure that people understand, not only understand pension 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. KPMG: CONSOLIDATION WILL TRANSFORM INSURANCE SECTOR companies are not doing as much. “ And if you have a situation where you can consolidate that to have very few and strong players who have the right capitalisation and have the right investment structure and technology, then what you would see is that you would be able to have the right depth in that market. “And then you can have the right product development and then then focus on consumer needs would be strong to generate the desired growth in that sector,” he added. Commenting on the adoption of the International Financial Reporting Standards (IFRS) in the sector, the KPMG partner said it would unify the accounting structures thereby making it more attractive to investors. Okunlola added: “The whole idea of IFRS reporting is that it seeks to harmonise accounting principles by insurance companies to focus on risk management.”

Group Business Editor

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 (Cap Mkt) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (Maritime)

NEWS

FMBN Refunds N32m NHF to 383 Army Officers Dele Ogbodo in Abuja The Federal Mortgage Bank of Nigeria (FMBN), has disbursed N32million to 383 army officers as part of their National Housing Fund (NHF) contribution within the last three years. This was disclosed during a courtesy call on FMBN management team by the Nigerian Army Command, led by the Director, Nigerian Army Finance and Accounts (DAFA), Brig. General J.O Ozigi, at the Apapa District office of the bank in Lagos. The army commended the bank for its efforts at providing timely service, advice and information on the trends in the mortgage and housing construction subsector. The statement issued at the event: “The bank had disbursed about N32million as refunds to 383 eligible personnel of the Nigerian Army in the last 3 years and that contributors’ statement of account were up to date. “That the bank and federal government were working on a number of initiatives towards increasing housing supply in the market, and that the army personnel to take advantage of the opportunity to become home owners, which in turn would improve productivity in the service.” The army, the statement added, also commended the

efforts of FMBN as a strategic partner in enhancing the welfare of officers and personnel of the Nigerian Army. According to the statement, considerable progress has been made on NHF Refunds for eligible applicants from the Nigerian army, mortgage loan

accessibility, contributors’ statement of account and the need to sustain mutual and common platform of engagement. Ozigi, urged the bank to carry out outreach and sensitization of the of its various products and services especially for newly recruited officers

across the country. FMBN District Coordinator, Mrs. Uche Okoli, expressed the appreciation of the bank for the mutual cooperation and sustained cordial relationship with the army. She commended the initiative of the command to create a platform

of engagement towards forging a stronger relationship based on mutual collaboration and cooperation, assuring to continue to strive towards improving service delivery to both the public, private sector and other stakeholders in housing delivery sector.

WE ARE OPEN FOR BUSINESS

L-R: Regional Manager, Lagos, Premium Pension, Mrs. Maryam L. Mohammed; Ag Head of Service, Lagos State, Mrs. Folashade Adeboye; Commissioner, Inspectorate, National Pension Commission, Prof. Abubakar Kaoje; Chairman Premium Pension’s Board, Mr. Aliyu Dikko and Managing Director Premium Pension, Wilson Ideva, at the unveing of the Lagos Regional Office of Premium Pension Limited…recently

Ibadan Disco Blames Inadequate Prepaid Meters on Scarcity of Forex Ejiofor Alike The Ibadan Electricity Distribution Company (IBEDC) has blamed the inadequate number of prepaid meters in its franchise areas on scarcity of foreign exchange in the country. Reacting to a recent protest by some Ogun residents, who were aggrieved over the unavailability of prepaid meters, crazy billing and erratic power supply in their area, the company said in a statement at the weekend that it had always been proactive in community engagements. According to the statement, the company’s proactive

engagements have enabled it operate almost seamlessly, despite challenges in most of its coverage areas, including Ijako/Ishaka in Ado Odo/Ota local government. IBEDC, however, added that despite its rigorous efforts, it is impossible to completely prevent incidents such community protest considering the volatile nature of the power industry in Nigeria. The company further stated that when such an protest arises, it seeks to quickly address it by treating it as an emergency. IBEDC further disclosed that it had held several meetings with the affected community where it explained to them the

issues involved with prepaid meter distribution. “The delay is due to the scarcity of forex, which affected the contractors supplying the meters. The development stiffened the normally smooth process of supplying the meters to them by the manufacturers,” said the statement. On the alleged high billing, IBEDC said its records showed that in the last six months, the residents of the community have never been billed more than N500 on the average per house. The company stated that despite the ridiculously lenient billing, most residents of the community still refused to pay for energy consumed

for the last three months, citing epileptic supply. “It was only this month, with the supply situation improving, that their bills went up to N1, 000 on the average. Yet, they have refused to collect the bills or allow our staff to work in their community to date. IBEDC uses a NERC-approved scientific system for billing customers using the cluster billing methodology, therefore we maintain a tolerable variance in all our estimated bills,” the statement added. IBEDC also insisted that the erratic power supply affecting the community is a national challenge, adding that other communities on the same Ota

Industrial feeder such as Owode and Ifo metropolis were also affected by the supply challenge. “This was exacerbated by the 25days TAT maintenance by the Transmission Company of Nigeria (TCN) in November, 2016. All these were communicated to the CDA Chairmen and Secretaries as we are always in touch with them, but it is unfortunate that their leaders embarked on a campaign of calumny and blackmail against IBEDC with all the allegations raised. To further see how could resolve the issue, we took the names and phone numbers of the leaders of the protest with a view to engaging,” the company added.

Expert Foresees Demand Surge for Project Managers in 2017 As the federal government makes a deliberate effort to diversify the economy away from crude oil following the slump in global oil prices, demand for project managers, who will drive the government’s renewed focus on the non-oil sectors of the economy is likely to increase. This was the view of Ericsson Nigeria Director of Consulting and Systems Integration Programmes, Oluwatosin Agbetusin. Agbetusin, the first programme management professional in Nigeria to bag

a Programme Management (PgMP) certification from the renowned Project Management Institute in the United States, observed that an increasingly diversified portfolio had created a many projects ranging from infrastructure to mining, leading to more demand for project talents. He said the project management profession has become popular over the past five years, such that a huge number of professionals are switching careers to join the field. “More projects in the pipeline

mean more hiring of project talent,” he said. According to Agbetusin, whose outlook for project management in Nigeria was featured in the January edition of PM Network, a monthly magazine offering insights from the profession’s most experienced leaders globally, there are currently more project management jobs available than experienced professionals to fill them. “I see 2017 bringing more push for additional project management skills and certifications. Beyond the Project

Management Professional (PMP) credential, I expect more organisations in Nigeria will seek out practitioners with specific skills and certifications in risk scheduling, agile, programme management and portfolio management,” he said. The National Bureau of Statistics forecasts that the federal government’s renewed spend on projects and cuts on wasteful spending will spark an annual average of 5.4 per cent expansion between 2017 and 2020. Agbetusin aligned with this policy direction, which

he said, would have a ripple effect on demand for the skills that project managers bring to the table. “As the profession matures in Nigeria so do the expectations of hiring managers, project management skills and credentials that might have been viewed as a bonus a decade ago are now listed in job adverts as mandatory requirements. Risk management skills are more apt to be discussed now than in the past, when attention was largely limited to schedule and cost control,” he noted.

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

BUSINESSWORLD

NEWS

Erisco Foods Supports Fight against Insurgency Nume Ekeghe The morale of officers and men of the Nigeria military currently fighting insurgency in the North East recently got a boost as Erisco Foods Limited donated trailer load of food items worth millions of naira to motivate them. Presenting the food items and a cheque of N1 million to the widow of late Lt. Col. Abu Alli at the Defence headquarters Garrison, Mogadishu Cantonment, Abuja, in a short ceremony, the President/CEO of Erisco Foods Limited, Chief Eric Umeofia disclosed that the officers and men of the Nigerian military needed to be commended for the good work they are doing. He noted that no meaningful success can be achieved in an atmosphere of insecurity. “I thank God for the opportunity of making this presentation because it is borne out of desire

to encourage and motivate the officers and men of the military who have recorded huge success in the fight against Boko Haram and making sure that the country is safe and secure.” He further noted that the patriotic zeal of the military to secure the territorial integrity of the country was commendable, hence the need to boost their morale with food items that can be easily eaten while at the war front. Continuing, Umeofia said the effort of the military will help the economic growth of the nation as export will be made easier if the insurgents are totally routed. He urged well-meaning Nigerians to support the President Muhammadu Buhari’s administration in its efforts to make Nigeria great. “If only 10 per cent of Nigerians are as patriotic as the military and contribute their quota to National development,

we will overcome all these challenges bedeviling our nation including poverty, recession and corruption. It’s our prayers that God will continue to safeguard the officers and men as they work assiduously to keep the country safe.” In his response, Air Commodore, Olayinka Tijani, who received the food items on behalf of the Chief of Defence Staff, General Abayomi Olonisakin, expressed joy and said that they were convinced that this gesture exhibited by the Erisco Food Limited would go a long way in complimenting the Military’s welfare package for the troops in the theatre of operation in the Northeast. According to Tijani, “This is most appreciated and the Chief of Defence Staff maintains that this support has demonstrated uncommon patriotism to the nation in general and the Nigerian Military in particular.”

Konga Foresees Better Future for e-commerce in Nigeria Raheem Akingbolu The Chief Executive Officer of Konga, Shola Adekoya, has predicted that the future of ecommerce is bright in Nigeria because of the country’s position as the largest population in Africa. According to him, with the revelation that the 180m population would increase to 440m by 2050, with GDP expected to grow between 4.5 and 9 percent each year in between, coupled with increase in internet users, the e-commerce industry would attract more investment. ‘’With 38 percent of Nigerians now connected to the internet - a figure that’s on the rise fuelled by a growing middle class - our ecommerce industry clearly has potential,’’ he said While attributing the growth in his company’s operation to huge Nigeria population and internet penetration, he spoke glowingly about how Konga kicked off in 2017 with a multi-million dollar investment from Naspers and Kinnevik and how the success recorded has helped him measure the performance of

the entire industry. He however admitted that reaping these online rewards isn’t straightforward and called on operators in the industry to be more creative and innovative. “To encourage Nigerians to make more online transactions the ecommerce industry must find innovative solutions to the table stakes of online sales, such as fast and easy payments and refunds, and trouble-free deliveries and returns. Perhaps it’s the passion and commitment involved in bringing Nigeria’s strong trading culture online that makes our country an attractive proposition for investors. When we started Konga in 2012, we knew we had to innovate to be successful. Today, I am proud of the progress we’ve made. We are a home grown Nigerian business, tailored to our local customers’ needs and committed to delivering the highest standards of service in the market. We’ve significantly grown our marketplace to service local seller and customer needs, and we’ve built much of our own nationwide delivery network from scratch, empower-

ing 80 local franchisees in the process, as well as building a proprietary third party logistics and warehousing service. We’ve also launched Konga Pay, which has materially increased our prepaid orders and reduced friction in the payment process,” Speaking further, he said there’s much still to do, especially as the market place model continues to evolve around local nuances, pointing out that at Konga, stakeholders have their eyes on the future with the confidence that things would be better. He said: “Our latest round of investment from Naspers and Kinnevik follows their previous investments and underlines their ongoing commitment to our business and the Nigerian ecommerce market. It’s the perfect way to start our fifth year of business and we look forward to benefitting from their continued support and expertise. Of course, neither Naspers nor Kinnevik are strangers to Nigeria, having been long-term investors in the country via successful businesses like Naspers’ MultiChoice,”

Etisalat Upbeat of Profitable Financial Year Crusoe Osagie Despite the harsh business environment crippling growth and profitability of businesses in Nigeria, Etisalat Nigeria has expressed confidence of achieving a profitable financial year while also assuring its loyal and esteemed customers of quality and innovative products in 2017. The Head of Sales and Distribution, Etisalat Nigeria, Mr. Oluwatosin Olulana, explained that 2016 was a very challenging year for the business community, but stated that with innovation and quality partnerships with its channel partners, the

company has continued to wax stronger providing quality and better services to its numerous customers in the country. Olulana during the company’s annual channel partner conference, said: “Despite the challenging business environment, we believe innovation is key to business profitability and sustainability. We drive our businesses through creating innovative products. Innovation is about doing things differently. 2016 was very challenging, but in terms of initiatives that we deployed and the resolve of our channel partners, we were able to do very well in terms of our performance. Our channel partners are very happy about

our performance.” In his words, “Today is our annual channel partner conference which sets the tone for another business year and also to appreciate our channel partners because they are really important to us. The customer is the major thing for us at Etisalat Nigeria. Everything we do in Etisalat is all about the customers. We always look for ways to impress our customers to satisfy their needs beyond expectation. Customers should expect lots of innovative products and best customer service from us in 2017. Right now we are ahead in terms of experience and we intend to maintain that lead.”

ELEVATING TO THE NEXT LEVEL Do You Build or Destroy? I had two heart wrenching conversations last week with people having challenges with their bosses. The first person called me crying. She said she did not understand why her boss kept putting her down. She said she tries her best in getting her work done, even though sometimes she felt the work that she was being assigned wasaboveherlevel. Itoldhertodescribeexactly what was being assigned to her. After this was done, it was clear to me that she was indeed working above her capacity. I explained to her that bosses do not give work to subordinates who cannot deliver. I told her, the assignments her boss gave her, was because he must have found her dependable to keep giving her work above her level. What triggered her call to me was that her boss had sent a mail that embarrassed her. He hadgivenheranassignmentandafterreviewing what she had done, instead of telling her alone, he sent the review points and his comments, which were not too polite, to the group chat that the whole team could see. She did not think this was the right approach. She felt his comments should have been sent to her alone. She also complained generally about the way feedback was given to her, which she felt was subpar and sometimes rude. The other person, who called me, complained that his evaluation was poorly done and was not what he expected. He was in a situation where he worked with a boss who was non-existent. The boss was not involved enough in the running of the department and did not give adequate directions, supervision, and did not review work done. His work invariably received poor reviews when sent to higher authority because of this lack of attention. In essence he and the other staffmembersweredoingtheworkthatrequired superior knowledge and felt they were doing a great job. But, the department within the larger context of the organisation was not getting the recognition it should because others felt their boss was not pulling her weight. This lack of respect for the department and perceived poor work performance of their boss was now rubbing off on the rest of the unit members who felt they were doing a great job and should be given the recognition they deserved in view of their hard work and not be marked down because of poor leadership. Many of us have been in situations like this before. Situations where we felt extreme demotivationbecauseofactionsperpetuatedby peoplewhoaremeanttobeourleaders/superiors, whose job it is to make us succeed and ensure we are properly supervised to do our jobs well and achieve the organisation’s mandate. In both instances,itwasclearthatthesetwopeoplewere on the verge of leaving the organisations they workedinbecauseofpoormanagement.Theywere bothdoingagreatjobattheirlevelsandreplacing themwouldbecostlytotheirorganisations. Yet, theywerenotbeingtreatedwell. Weallknowhow disruptiveitistoourbusinesswhengoodpeople leave our organisations. Many leaders tend to blame their attrition on otherissuesandalwaysfailtoputthesearchlight on themselves. The truth is that people don’t always leave jobs; they leave their managers or leaders. I can attest to this, because when I left mylastjob,itwasagreatjob,butIleftbecauseof mismanagement from the person who I directly reported to. This is a story for another day. In my view, the sad part is that the attrition of good people can easily be avoided. All that’s required is for the manager to practice and understand emotional intelligence most times. According to a research conducted by the University of California, it was found that motivated employees were 31% more productive, had 37% higher sales and were three times more creative than demotivated employees. They were 81% less likely to quit, says results from another survey done by Corporate Leadership Council’s study on over 50,000 people. Gallup research also shows that a mind-boggling 70% of an employee’s motivation is influenced by his

Marie-Therese Phido

or her manager. If this number is high, my question is why are policies and behavioural patterns not geared to ensuring that employees are better managed and supervised? In order to help those of us, who are blind to the mistakes we make in supervising our people, let’s note the points below. • There is a perception that people feel organisations do not really care about them. Bosses who fail to really care about how their actions impact their people will have demotivated staff. What do you do when your staff work late? Do you care about their family situation? Are you concernedabouthowtheyarewhentheyaresick? A current situation I have is a personnel working in one of the banks who was sick. His boss did not call him for one whole week and when she called, it was to make enquiries about when he would be returning to work. Bosses who only care about the output will never have the commitment nor loyalty they require to succeed from their staff. • Notrecognizingnorsharingaccomplishments is another big NO. I remember how I felt each time my boss sent out mails acknowledging my performance and telling me well done for a job done and sharing this pat on the back with the whole organization. This practice went a long way in motivating me and made me strive to always go the extra mile. Many managers underestimate the power of a pat on the back, especially with top performers, who are intrinsically motivated. We all value recognition especially those who are already working hard. Leaders need to reward their people, not necessarily monetarily for doing their jobs well. •Empowering your people and sharing the big picture. Talking from personal experience, I’ve always done better when I’m given the big picture and empowered to contribute to the success of a mandate. Not being aware of the big picture, hinders my ability to engage properly and this is the situation with many good performers. When they do not know what the purpose of their work is, they feel alienated and aimless. When not given a purpose, most will find one elsewhere. • When the boss always feels he is right and is insecure. Many of us have come across such leaders at one time or the other. Where they feel that if they are wrong for any reason they will be less regarded. They therefore put all kinds of roadblocks down when they should not. While a secure boss will know that their personality is not defined by how right they are, but want to make the best choice for the organization and not for themselves. They are usually focused on the “whole”. • Tolerating weak links. When you allow weak links to thrive or exist, they invariably drag everyone down, which was the case with my second protégée. No matter how good everyone is, if there is a person not doing his or her work, it drags the other people down. • Not honouring commitments. “Making promises to people places you on that fine line that lies between making them very happy and watching them walk out the door’’ – Dr. Travis Bradberry. He goes on to say “that when you uphold a commitment, you grow in the eyes of your employees because you prove yourself to be trustworthy and honourable. But when you disregard your commitment, you come across as slimy, uncaring and disrespectful.” I can relate to this in view of recent experience. So,asmanagers,leadersandbosses,dowebuild up our people or destroy them. Do we overwork them? Fail to develop them? Do not challenge them creatively or intellectually? Not doing all of the points above will destroy them. If we want our people to stay, we need to think carefully about how we treat them. - Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

BUSINESSWORLD

EQUITIES WATCH

Again, United Capital Beats the Odds United Capital Plc recorded a growth in profit of 133 per cent and raised dividend payment by 42 per cent for the year ended December 31, 2016, despite the challenging business environment, writes Goddy Egene The year 2016 was a tough one for businesses, given the challenges of rising inflation, foreign exchange scarcity, high energy cost and poor infrastructure. The headwinds brought by these challenges affected the performance of many companies in the real sector for most part of 2016, as shown by their quarterly results. The financial services sector was not spared in the poor performance engendered by the difficult operating environment. Many of the banks and other firms operating in the financial services sector ended with the lower bottom-line. However, United Capital Plc, an investment banking company has maintained a positive trajectory amidst the headwinds. The company had surprised stakeholders with an impressive nine months performance to September last year. It had recorded 66 per cent in profit after tax (PAT) for the nine months. Just when apprehensions were high among stakeholders as to what their fate would be for the full year, United Capital Plc last week gave a pleasant surprise to stakeholders and shareholders in particular with a performance that is above expectations. The company recorded an unprecedented growth of 133 per cent in bottom-line and raised dividend payment by over 40 per cent, a development that has been hailed by market operators. Corporate history United Capital Plc was incorporated in Nigeria on March 14, 2002 under the Companies and Allied Matters Act, Cap C20, Laws of the Federation of Nigeria 2004. After a successful spin-off from United Bank for Africa Plc, the company got listed on NSE in January 2013. United Capital is first investment bank in Nigeria to be listed on the NSE and it is a holding company with three subsidiaries: United Capital Trustees Limited, United Capital Asset Management Limited and United Capital Securities Limited. The company is engaged in the business of investment banking and provides issuing house, corporate investment advisory services, project finance, debt restructuring, mergers and acquisitions, debt capital markets. Through its subsidiaries, it provides additional services such as trusteeship, asset management, securities, trading and insurance. United Capital’s vision is to be the leading financial and investment services group in Africa. Its mission is to be the financial and investment role model across Africa, deploying innovation, technology, and specialist skills to exceed client expectations, whilst creating superior value for all stakeholders. 2016 financial performance United Capital Plc ended the year with gross earnings of N9 billion in 2016, showing an increase of 50 per cent from N6 billion posted in 2015. Investment income rose from N3 billion to N4 billion, while fee and commission income grew from N1.612 billion to N1.979 billion. Despite high inflation in 2016, the management of the company was able to reduce its total expenses by 19 per cent from N3.238 billion to N2.634 billion. Consequently, profit before tax (PBT) grew by 95 per cent from N3.264 billion to N6.366 billion, while PAT soared from N2.57 billion to N6 billion. Also, shareholders’ funds rose to N14.231 billion, from N10.420 billion, just as total assets improved from N144 billion to N161 billion. Earnings per share jumped from 43 kobo in 2015 to 115 kobo in 2016. Given the impressive performance, the directors of the United Capital have recommended a dividend of 50 per share, which is higher than the 35 kobo paid in 2015. Achieving the results No doubt achieving these positive results is not an easy task, considering the numerous headwinds. However, the company was well prepared to achieve this feat. According to the Group Chief Executive Officer of United Capital Plc, Mrs. Oluwatoyin Sanni at the beginning of 2016, the company was more committed to achieving its goal

and drove growth in its market share along core areas of product coverage and expertise. “These initiatives should see us successfully enhance the group’s productivity, revenue growth and profitability. I have great confidence in the highly dedicated staff and the management team of United Capital Plc, whose superior pedigree and expertise, led by a strong and highly supportive board of directors, make us supremely equipped to build on our strong performance in 2015 to take on 2016, ensuring delivery of excellent value to our shareholders,” she said. Sanni added: “I have no doubt in my mind that the strategies we have put in place in light of our expectations of market scenarios in the coming year will prove effective in delivering much better results. I am confident that with the dedication of our resourceful staff and your unalloyed support, we will continue to delight you with superior return in every line of business we are involved.”

Sanni

of building Africa’s leading investment and financial services group and to work hard to accomplish its strategic objective set out in 2015 & 2016. “Our priorities include: driving effectiveness and efficiency initiatives to improve productivity whilst optimising costs. Further improving our

brand awareness, corporate image and brand value to achieve market-wide recognition and appreciation of our corporate identity.” She explained that the company renewed focus on service excellence and execution to drive client growth and retention, expanded its footprint, developed innovative product lines

UNITED CAPITAL FINANCIAL SUMMARY 10 09

DEC.2016 N9.0Bn

08 07 06

DEC.2016 N6.3Bn

DEC. 2015 N6.0Bn

DEC.2016 N4.0Bn

DEC. 2015 N3.1Bn

DEC.2016 N6.0Bn

DEC.2016 N1.9Bn DEC. 2015 N1.6Bn

DEC. 2015 N2.5Bn

01 0

GROSS EARNINGS

INVESTMENT INCOME

FEE/COMMISSION INCOME

PROFIT BEFORE TAX

PROFIT AFTER TAX

Empowering investors Determined to sustain its performance and use its expertise to empower investors though innovative products and services, United Capital Plc has launched two mutual funds. The two mutual funds are: United Capital Nigerian Eurobond Fund and United Capital Wealth for Women Fund, that are meant to meet the diversified investment portfolio needs of indigenous and global clients. The United Capital Nigerian Eurobond Fund is an open-ended mutual fund that will be invested in Dollar denominated Eurobonds, floated by the Federal Government of Nigeria, Nigerian top tier banks and other corporate issuers whose securities are registered with the Securities and Exchange Commission (SEC). According to the Managing Director, United Capital Asset Management, Mr. Jude Chiemeka, “We designed these new products specifically to suit the changing needs of our clients. We are excited to launch the United Capital Nigerian Eurobond Fund, as I believe if there was ever a best time for such a product, that time would be now. Our mutual funds have consistently offered attractive dividend returns for investors and we expect our two new funds to follow suit.” On the other hand, the United Capital Wealth for Women Fund aims to encourage women to imbibe a savings culture, provide an avenue for women to be financially independent and to create a sustainable foundation for women’s financial empowerment and development in Nigeria. Commenting on the fund, Sanni said: “The Wealth for Women Fund comes at a time when the cause of advancement of women is at the forefront of the Africa narrative. Several studies have demonstrated that businesses with significant participation by women on their Boards as well as businesses led by women often outperform their peers. United Capital is committed to empowering African women and in launching this fund, we have gone beyond just saying it to doing something to support this cause through this innovative product.” According to her, investment in the United Capital Wealth for Women Fund will provide investors with capital appreciation, competitive returns, diversified portfolio and regular and steady income stream not common with other forms of investment. Sanni disclosed that the core focus of the fund will be to: enhance the financial security of women; encourage women to imbibe a healthy investment culture, provide avenues for women to be financially independent; and create a sustainable foundation for women’s financial empowerment and development. She added that the target of the fund are female business leaders, entrepreneurs and investors across Africa and in Diaspora, primarily those with domiciliary accounts in Nigerian banks. The fund, she added, is also for top female executives, and senior female servants.

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

BUSINESSWORLD

INTERVIEW

Ezeagu: Govt’s Policies Should Encourage Savings and Investments The Nigerian capital market has been in the news for the wrong reasons arising from a share scam and bear run with no end in sight. The Chairman of the Association of Stockbroking Houses, Chief O.P Ezeagu, spoke to journalists in Lagos on these developments and how the market can be revived, among other issues. Goddy Egene presents the excerpts: What led to the formation of the Association of Owners of Stockbroking Houses of Nigeria (ASHON) ? The Association of Stockbroking Houses of Nigeria (ASHON) was formed as the umbrella body of all Dealing Member firms of the Nigerian Stock Exchange (NSE) and a trade group recognised by the Securities and Exchange Commission (SEC) to promote and protect the interest of its members. The main objective of the association is to advance the transparent practice of stockbroking business in Nigeria, and to protect the integrity of our segment of the capital market, which is an important sub-sector of the Nigerian economy. Part of the objective is to serve as an advocacy body to promote, advance and protect the interest of its members within the Nigerian economy, working in collaboration and co-operation with other similar bodies and or agencies. To what extent can you say that ASHON is living up to the objectives of its founding fathers? ASHON has lived up to the objectives of the founding fathers in the area of market development, investor education and making financial commitment to the structures such as Investor Protection Fund (IPF) and Trade Guaranteed Fund (TGF). Without being immodest, I can say that our members have always collaborated with the capital market regulators by making inputs into policy issues that enhance market growth and development. For instance, the recently introduced Complaint Management Framework, Direct Cash Settlement, etc to protect the investors and other stakeholders in the Capital Market. What would you consider as the major challenges affecting your Association and what is the way forward? One of the major challenges is on how to restore investors’ confidence in the market since the market meltdown of the last 10 years. Also, the government in its monetary and fiscal policies have tended to completely neglect or ignored the capital market as the wheel of economic development. The way forward is for government to use the capital market to source long term funds necessary to finance infrastructures in the economy. Government’s monetary and fiscal policies should also be geared towards encouraging savings and investments.

Ezeagu:

measures that have been embarked upon to assure the safety of their investments in the capital market. New products are well advertised before they are bought into the market to ensure investors’ participation.

As a trade group, what are the contributions of ASHON towards the growth and development of the Nigeria’s capital market since its inception? Some of the major contributions of ASHON towards the growth and development of the capital market include encouraging the introduction of new products that excites investors, engendering investors’ confidence as well as making the market the first destination of choice to both local and international investors, ensuring that there is transparency and integrity in the market and engaging various stakeholders in the capital market, notably our members, other trade groups, regulators, relevant Government agencies including members of the National Assembly to promote capital market development structures like Complaints Management Framework to resolve issues between Stakeholders in the Capital Market

Some stockbrokers have been involved in unethical practices in recent time, prompting some people to label all stockbrokers as fraudulent. What is your take on this? In any Association, there are bound to be few bad eggs and the actions or activities of these few do not criminalise the entire members. As earlier stated, we have, in conjunction with the regulators, put in place, a robust compliant management framework to ensure the quick resolution of complaints in the market.

What are the roles of ASHON towards investor education in Nigeria? ASHON and the regulators have jointly organized road shows locally and internationally to boost investor education severally. ASHON always enlightened its clients on the various

What factors would you consider in encouraging indigenous and foreign investors to patronise the Nigeria’s capital market and how would you advise your members in this era of investor apathy? Zero tolerance to market infractions and the

What policy measures are put in place to ensure investor protection in the capital market? Some of the policy measures to protect investors are zero tolerance to infractions, direct cash settlement, investor protection fund and robust complaints management framework

use of technology to drive the revolution taking place in the market is the key. Again, investor education and the policy consistency of the government will help to ensure that investors patronise the market. My advice to members is to avoid sharp practices and operate with the highest level of professionalism, accountability, transparency and integrity. This would engender greater confidence and attract more investors to patronise the market. And what about investors ? I strongly advise investors to embrace the direct cash settlement which will enable sales proceed to settle into their bank accounts directly. They should not patronise quacks and always follow up on their mandates to their brokers to ensure quick and timely delivery on transactions. If you are to advise the federal government to support the development of the Nigeria’s capital market at a period like this, identity three key issues that can accelerate market growth.? Downward review of the Monetary Policy Rate (MPR) to stimulate investment, policy stability, clear and stable foreign exchange policy and implementation of appropriate legislation that will compel the federal government to fund its infrastructural development through the capital market. Others are strengthening of the SEC with a view to positioning it to perform

its market surveillance, market development and other regulatory functions more effectively, compelling the Bureau of Public Enterprises (BPE) to sell at least 40 per cent of privatised national assets through the instrumentality of the capital market to engender fair valuation, transparency, accountability, integrity and greater participation of the average Nigerian investor, utilising the capital market to raise funds for infrastructural development projects, ensuring security of lives and property as a panacea for peace and development and pursuing diversification of the economy away from oil as a major foreign exchange earner What are your general comments ? The Nigerian capital market is a safe haven for both local and foreign investors. Its potential are largely untapped and the Nigerian economy may ignore these potentials to its own peril. ASHON is in the process of bringing on board a new Commodities Exchange which, when finally birthed, shall encourage the electronic trading of various commodities, for example, solid minerals, agricultural products, as well as oil and gas products. This in effect will give vent to the agricultural revolution which the federal and state governments are currently pursuing and give our members new window of income generation and investors another option for investments.

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

BUSINESSWORLD

INTERVEW

Otunuga: Nigeria Still Exposed to External Shocks

Cyprus-based Research Analyst at ForexTime (FXTM), Mr. Lukman Otunuga, in this interview, stressed the need for the Nigerian government to prioritise infrastructure development and ensure exchange rate stability in order to attract investors. Obinna Chima presents the excerpts: What do you think the federal government should be doing presently to lift the economy out of recession? Firstly, in the short term, Nigeria still remains exposed to external risks. Nothing much can be done in the short term because we still have the Donald Trump effect, the situation in China, oil price volatility and the prospects of high US rates could actually weigh-in heavily on Nigeria. But in the long-term, I think that the first thing to do to attract investors and to show that there is stability in the economy may be to actually devalue the naira. That is what the whole world is asking for, that is what the major financial institutions are saying. They are all saying that Nigeria needs to devalue to increase liquidity. Increased liquidity could actually bring in more foreign portfolio investments. In terms of policies, we must start looking at infrastructure spending. It is well know that Nigeria has very weak infrastructure and so the government needs to do more to boost infrastructure. Agriculture is still an important aspect. It is the bedrock of Nigeria. I can say that the fall in oil prices was a blessing to Nigeria because it made the government not to look at agriculture. I think housing is also important in Nigeria. Imagine the impact of housing up to 20 million Nigerians in four years, not only would that boost growth, that would actually create more jobs. Why are you recommending naira devaluation for a nation that is largely import dependent? The main issue that Nigeria is facing right now is the lack of foreign exchange and lack of liquidity. So, for them (CBN) to close the gap between the black market and official market, they need to devalue to reduce some pressure. If we devalue the naira again, how will that translate to increased dollar liquidity? Devaluing is the first step and it can actually boost investor attraction towards Nigeria. It sends a signal that the government and CBN are actually doing the right things to promote exchange rate stability. Fitch Ratings recently downgraded Nigeria. What is your take on that? Recently, Fitch downgraded Nigeria’s long term outlook to negative. It was based on the scarcity of foreign exchange and of course low crude oil prices. To an extent, that doesn’t make sense because the International Monetary Fund (IMF) and the World Bank had predicted that Nigeria would gradually break out of recession in 2017. Of course the internal risk in Nigeria is the foreign exchange scarcity and drop in oil prices. As we speak right now, Nigeria only produces 1.45 million barrels per day, due the activities of the militants in the Niger Delta and the foreign exchange issue remains a problem. The disparity in the official and the black market is actually causing cost-push inflation in Nigeria. Inflation has hit 18 per cent and the global economy is actually afraid that the Central Bank of Nigeria (CBN) may not be able to tame this level of inflation. So, I think there is a strong possibility that the CBN would actually devalue the naira again, probably in six months’ time, probably to N350/$ or N400/$ to try and attract increased liquidity. Are you comfortable with the 2017 budget proposal? Looking at the 2017 budget proposal of recovery and growth, it looks more optimistic than the 2016 budget. It does the ability to actually take Nigeria out of recession. But there are many things on paper which are different from reality. The first thing with the budget is that it was pegged at N305/$. That is a problem with the budget. Even though

Otunuga

the CBN governor and the president appear to have put their foot down not to devalue, it seems that there is a strong possibility that in six months’ time, it would be devalued. The second thing with the budget is that they pegged the oil price at $45 per barrel. While this was realistic when the budget was planned, the situation at the Organisation of Petroleum Exporting Countries (OPEC) is quite complicated. So, at the end of the year, major oil producers shocked investors by actually securing production freeze. But

In terms of policies, we must start looking at infrastructure spending. It is well know that Nigeria has very weak infrastructure and so the government needs to do more to boost infrastructure. Agriculture is still an important aspect. It is the bedrock of Nigeria. I can say that the fall in oil prices was a blessing to Nigeria because it made the government not to look at agriculture

there are so many things behind that we do not know. Firstly, there is a prisoner’s dilemma. Prisoner’s dilemma is a situation where everybody is watching if somebody is going to cheat. There is no punishment in place for people producing more than the intended. So, the second problem is Donald Trump. Donald Trump has already removed regulations in the United States industries. So oil price around $45 per barrel in the medium to long-term is quite optimistic. We may even see $40 per barrel or even lower. Finally, they pegged the budget at 2.2 million barrels per day. In December, oil production was around 1.5 million barrels per day. So, even though OPEC has granted Nigeria some opportunity to be exempted, the renewed militancy, if not checked, could be a big problem. Do you see Nigeria and other African countries benefitting from Donald Trump’s policies? Interesting, as soon as Donald Trump was elected, I wrote an article about how he would be good for the Nigerian economy. With Trump being in power, that would make the dollar weak because of uncertainties. A weak dollar is very good for Nigeria. But the complete opposite happened. When Trump came to power he promised fiscal spending and that sent the dollar to 14-year high and that definitely put pressure on the naira against the dollar. So, Donald Trump and the global economy is still all about uncertainties. He has adopted a strong protectionist stand; he has banned certain class of people from going to the US and might also ban Nigerians from getting two years visa. The problem is that African businessmen going to the US may have problem

and they may just have to concentrate in doing business in Africa. These policies that Trump is pursuing actually go against the Africa Growth Opportunity Act. Your firm is a forex broker that specialises in forex trading, commodities, among others. What opportunities are there in the market presently? Political risks with the events in Europe. We have elections in Europe, we have Brexit, we have Donald Trump and uncertainties around his policies and we have China. So, uncertainties breeds risk aversion. With risk aversion, people jump to safe haven investments such as Yuan and gold. If you look at the charts, you can see that gold has been appreciating and the Yuan has been appreciating. So, foreign exchange traders can look at all that. Now regards to the dollar and the naira, because there is uncertainty and the economic condition of Nigeria right now is still shaky, naira weakness could still be a main theme. So, on the black market, we could actually see N550-N600/$ in the next six months in the black market. Remember that last year we predicted N500/$ and it got close to that. So, we could see about N600/$, especially if the Central Bank of Nigeria devalues. So, there needs to be some short-term pain to have long term pleasure. Of course the impact of devaluation would impact the common man in Nigeria, but that is the first step to attract foreign investors and to show that there is some stability in Nigeria. The government needs to be transparent. That is by showing the world economy a proper plan to take Nigeria out of recession. There needs to be a clear picture of the steps taken. Thirdly, there is need to urgently fix the broken down relationship in the Niger-Delta.

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T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

BUSINESSWORLD

INSURANcE

Pinet Informatics to Host e-Insurance Conference in Lagos Ebere Nwoji Against the backdrop of low penetration of insurance and minimal contribution of insurance sector to the Gross Domestic Product (GDP) of Nigeria’s economy, Pinet Informatics, one of the first Internet Service Providers in Africa, said it is set to broker a strong partnership between information technology industry and insurance sector through an annual national insurance conference that will bring the two sectors closer to each other for the purpose of promoting E insurance in Nigeria. Pinet informatics, is optimistic that if the Nigerian insurance sector is driven by ICT, operators will record huge success in their current effort to increase insurance penetration in Nigeria.

Pinet Informatics chief executive officer, Lanre Ajayi, announcing the proposed conference at a media briefing, said whereas banking industry has about 23 percent penetration and telecommunication sector 55 percent, it is disheartening to know that only 1.5million Nigerians are insured out of over 180 million population. This represents less than one percent of the population. He blamed low insurance penetration and poor patronage of the industry by Nigerians on poor selling approach by industry operators. According to him, the gross premium income of the industry put between N300 billion and N400 billion is below profit margin of one bank in Nigeria, noting that operators keep on talking about implementation of compulsory

insurance as a strategy to grow patronage instead of focusing on highlighting the insurance value proposition. He said in organising the conference, Pinet Informatics, wants to use the opportunity to bring the insurance sector closer to ICT sector for the duo to brainstorm on how to use IT to take insurance value to

Nigerians. He said Pinet Informatics, has taken up the task of using IT to promote insurance value to Nigerians because it believes there is value in Insurance. He said his organisation, has lined up a number of strategies to be used to achieve the task.

He said after applying the strategies, operators will in the next three years measure with smiles on their faces the improvement in their activities. The Pinet Informatics boss, also said the theme of the conference scheduled for March 23rd,2017 at Sheraton Hotel , Lagos is “Driving Insurance Penetration through Information Communication Technology”.

According to him, eminent speakers have been selected from both insurance and It sectors to speak on the selected topics. The conference is expected to bring together corporate organisations, ICT experts, insurance experts, academia, consumers of insurance products and regulators of both industries.

Guinea Insurance Chair Tasks Operators on Growth Opportunities The new chairman, board of Guinea Insurance Plc, Godson Ugochukwu, has charged insurance sector operators to always take advantage of growth opportunities around them to increase insurance penetration in the country and enhance insurance awareness among Nigerians there by increase the sector’s contribution to GDP. Ugochukwu, who gave the charge, in an interview with THISDAY in his office in Lagos, said for Guinea Insurance, the present economic recession in the country cannot limit its determination to achieve success in the current business year. “We have positioned ourselves to go with the current tide of structural and operational changes in the insurance industry. There has been a renewed focus on corporate governance and the Board has spent a significant proportion of its time examining and strengthening the operational processes throughout the company. Having a solid corporate governance framework is the key to rebuilding trust and transparency with all stakeholders.” He stated that contrary to fears that the decline in national revenue occasioned by the fall in oil price and depreciation in the naira value, would spell hardship for insurance industry as expressed recently by insurance practitioners, he believes that the insurance sector has the potential to grow volumes and enhance shareholders’ value. He however said this requires insurance companies to device means of taking advantage of growth opportunities around them because adding that doing so, would not only increase its penetration but also, enhance awareness and the sector’s contribution to

GDP.” “As a company destined for greatness and propelled by a Board of Directors and Management team with insatiable thirst for success, we keep the faith that there are no limits, there are only plateaus. We have therefore, taken steps to ensure that our greatest asset – our people, are enhanced through human capital investment. I am pleased to say, that in such a short while, we are beginning to experience growth in our business. I therefore, make bold to say that the future is indeed very promising, “ the New Guinea Insurance helmsman stated. He called on the government to provide the necessary regulatory mechanisms, conducive business environments and ensure full enforcement of compulsory insurances in Nigeria as it would not only drive the growth of the sector but also, contribute significantly to the growth of the country. He however expressed regret on government’s lack of political will to enforce certain laws and policies which he said were serious headwinds that have slowed down the growth of the industry. He noted that insurance underwriting in Nigeria was an extremely worthwhile venture but, requires government’s intervention especially at this time when the current economic crisis occasioned by high inflation and low disposable income, have significantly impacted on the performance of insurance practitioners. “When economies experience downturn, the first casualty is insurance. We have seen a lot of reduction in interest for insurance as lot of people who naturally would buy insurance, would regard it as a secondary issue due to the fact that insurance business thrives on the back of the economy” he said.

FACTS BEHIND THE FIGURES

L – R: Head, Domestic Primary Markets, Nigerian Stock Exchange (NSE), Tony Ibeziako; Executive Director, Capital Market Division, NSE, Haruna Jalo Waziri; Doyen of the NSE, Samuel Ndanta; Chief Executive Officer, NSE, Oscar Onyeama; Chairman, First Ally Asset Management, Biodun Arokodare; Managing Director,

Ideva Explains Reasons for Premium Pension’s Lagos Regional Office Ebere Nwoji Managing Director of the Abuja based Premium Pension Ltd, Wilson Ideva has explained why the pension Fund Administrator (PFA) recently opened a regional office in Ikoyi, Lagos, saying it was to bring its services closer to its numerous contributors in Lagos. Ideva, said in siting the Premium Pension’s regional office in Lagos, the PFA, had considered the fact that most banks and other corporate organisations whose workers, including Lagos State government’s workers chose Premium Pension as their PFA have their corporate head offices in Lagos. He said since pension business has to do with services

to human beings, it deemed it fit to in addition to 20 branches and other pension centers the PFA has spread across the country to open the Lagos regional office to serve its clients better. He disclosed that Premium Pension, pays a total of N118 billion as monthly benefits to retirees/client and has in excess of 16, 000 retirees in its pay roll. He noted that the firm had established 20 branch network and 23 pension centres across the 36 states of the federation with its head office in Abuja Speaking at the opening ceremony, the Director General, National Pension Commission (PenCom), Chinelo AnohuAmazu, represented by the Commissioner, Inspectorate division of (PenCom),Professor Mohammed Kaoje, lauded the

giant strides made by the firm, especially in the area of better service delivery to retirees. Premium Pension, was also commended for upholding the culture of high ethical standard in its practice and service delivery to retirees. Also speaking, acting Head of Service, Lagos State, Folasade Adesoye, applauded the firm for its contributions to the development of pension industry, stressing that the new office will not only add value to pension contributors/retirees, but also add value to Lagos State by way of employment. Chairman of the company, Aliyu Dikko, said though the road to success has not been smooth, the company is working assiduously to achieve its vision and mission which are centered on superior customer satisfaction

in active and retirement life through best practice. He said in line with the vision of the company, it has implemented a number of initiatives which has led to major milestone in the pension industry. These achievements, he said were made possible due to the commitments and dedication of its board, management, staff and support of shareholders of the company. He also commended PenCom for its efficiency and support, adding that without prompt regulation and guidance, the company and the industry would not have been where they are today. He assured the commission of its policy of zero tolerance to non-compliance with regulatory requirement.

Standard Alliance Insurance Announces Merger with Sister Firm Insurance underwriting giant, Standard Alliance Insurance Plc, has formally merged with its sister company, Standard Life Assurance, to become one big insurance company, underwriting life and non-life insurance businesses. With the development, Standard Alliance is now a composite insurance firm underwriting both Iife and non life business as a single entity.

“The court-sanctioned merger makes Standard Alliance Insurance Plc a leading composite insurance company with a shareholders fund of N6.392b and asset base of N13.651b”, said its Group Managing Director, Bode Akinboye. Akinboye, explained that the merger was a deliberate and strategic decision by the boards of both companies to form a frontline composite insurance company

which will play a leading role in the nation’s insurance sector with the ultimate goal of making the company the most preferred place to invest in.” “The emergent composite company, means combined professional and result-oriented workforce. Standard Alliance Insurance Plc is now better poised to continue to provide more innovative products and deliver on its promises to all stakeholders”, he said.

Standard Alliance Insurance was late last year, accorded Rating of BBB (NG), Outlook Stable By the Global Credit Rating (GCR) . This was based on the following key criteria: Shareholders’ funds which rose by 28% to N4.2bn at FYE15, on the back of internal capital generation. In conjunction with a substantial reduction in retained premium volumes, this led to an improvement in risk adjusted capitalisation.

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

BUSINESSWORLD

PERSPECTIVE

Adopting PPP Model in Infrastructure Financing Ugochukwu Amasike suggests that public private partnerships offer a more sustainable and efficient mode of financing infrastructure in Nigeria If there is a consensus right now in Nigeria, it is on the need for investment in infrastructure in order to reduce the cost of doing business in Nigeria and make Nigerian businesses competitive and for Nigeria, the lack of adequate infrastructure serves as one of the most significant obstacles to building, sustaining and distributing wealth and the trajectory of growth and poverty alleviation. According to the National Planning Commission’s “National Integrated Infrastructure Master Plan”, Nigeria needs to spend USD 3.0 Trillion over the next 30 years in order to close the infrastructure gap. Similarly a 2011 World Bank publication assessed that Nigeria needs to increase its spending to a total of USD 142 billion, with USD 10.5 billion per annum needed for federal infrastructure and USD 3.7 billion for municipal level assets over the same time frame. The development of infrastructure in Nigeria has customarily been financed through traditional forms of contract-awards by the government, but in the face of diminished government revenue, the federal government has sought to leverage more on debt-financing; with the government expressing it’s intention to borrow USD 30 billion in order to finance major infrastructure projects across the federation. The government has assured the Nigerian public that the loan will be strictly applied to infrastructure-financing, however, whilst appreciative of the determination of the government to ensure fiscal discipline, it is pertinent to note that in the advent of any further fall in oil prices, Nigeria would require additional Naira revenue to meet its debt obligations, placing a further strain on the lean resources of the government; worsening economic conditions in the country. As for domestic borrowing, industry experts have suggested the potential of a crowding out, with local financial institutions more favorably disposed towards lending to the public sector than to the private sector, thus depriving SME’s of critical credit facilities and consequently hurting the real economy, increasing unemployment

Minister of Finance, Kemi Adeosun

and growing poverty. A PPP is implemented In light of these challenges, it has been through various suggested that “Public Private Partnerships” contractual arrangements (PPP) offers a more sustainable and efficient of financing infrastructure in Nigeria. and in Nigeria, the most mode PPP’s are essentially contractual arrangecommon form is the ments between the government and private Build-Operate-Transfer companies for the purpose of financing, building, operating and or maintaining of (BOT) arrangement infrastructure projects. that leverages on the A PPP is implemented through various arrangements and in Nigeria, financial strength of the contractual the most common form is the Buildprivate investor for the Operate-Transfer (BOT) arrangement that leverages on the financial strength of the execution of a project. private investor for the execution of a projIn return, the investor ect. In return, the investor is provided with ample ownership rights and duration within is provided with ample which the investor recoups his investment ownership rights and and makes profit, before transferring full duration within which ownership rights back to the government. An excellent example of a completed PPP the investor recoups his project is the concession of Onne Oil and investment and makes Gas Free Trade Zone port facility in Rivers profit, before transferring State, where over 169 companies in the oil gas sector are running operations. The full ownership rights back and OGFZ Onne, currently accounts for more to the government than 67.7% of all foreign direct investment

by OGFZ’s in Nigeria, and at the heart of this success is the massive infrastructure investment into the complex undertaken by the concessionaire company – Integrated Logistics Services (INTELS), which according to industry reports has invested over a Trillion Naira in the upgrade and modernisation of the port. The advantages of the PPP model for infrastructure-financing are several, a few of these advantages include: a. The accelerated provision of infrastructure. b. Job Creation: the utilisation of PPP occasionally entails a joint venture with large international firms, which usually provides opportunities for local firms in areas such as civil works, facility management, etc. c. Transfer of Technology and Expertise: PPP’s afford the public sector the opportunity to adopt and leverage on the expertise, experience and technology of the private sector. d. Government Savings: PPP arrange-

ments remove the responsibility of funding projects from the Government’s balance sheet, thus saving the money for the country, which can be invested into other critical sectors. The opportunities and advantages presented by the full adoption and utilisation of PPP for Nigeria are several, all that is required of the government is for it to provide a stable and secure environment for private investors and their investments, by demonstrating its commitment to the rule of law - the flouting of court orders by some agencies of government does little to inspire investor-confidence. The government should also preserve the independence of the Central Bank to independently determine monetary policy and ensure a friendly tax and regulatory environment. It is hoped that Nigeria’s policy makers will see the need to fully embrace the utilisation of PPP in the financing of infrastructure. Nigeria has all to gain and nothing to lose from the adoption and utilization of Public-Private-Partnerships. -Amasike, Lawyer, wrote from Lagos, ugoamasike@yahoo.com

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

BUSINESSWORLD

NEWS

Dell EMC Launches New Integrated Partner Programme

Emma Okonji

Dell EMC has launched the integrated Dell EMC Partner Programme, built from the ground up while preserving the best of two world-class legacy programme. The programme establishes an extraordinary new one that addresses the needs of partners today and into the future.

The unified programme embraces the entire Dell EMC partner ecosystem, inclusive of solution providers, cloud service providers, strategic outsourcers, OEM partners, systems integrators and distribution partners as well as includes unique tracks with specific advantages and incentives that align to a particular partner type and attained tier designation. As part

of this full ecosystem strategy, also included is the “Powered by Dell EMC” brand programme for those businesses that embed Dell EMC technologies into the marketplace. Speaking on the programme, the Country Manager, Dell Nigeria, Akin Banuso noted that global business is rapidly changing as more and more customers prioritize investment in digital

transformation and Dell EMC and its partners are uniquely positioned to help customers through this evolution. “Dell EMC provides vast opportunities to our partners through an industry leading portfolio of innovative products, services and solutions, and now with the Dell EMC Partner Programme, provides the support and programmes for

partners to excel,” Banuso said. The new programme tiers, developed to elevate Dell EMC Partners over competitors and establish a clear path to level-up, include Titanium, Platinum and Gold, as well as a new status level within the Titanium Tier, Titanium Black. Benefits to solution provider partners include generous rebates focused on profitable behaviors

such as driving new business, service sales (inclusive of consulting, deployment, support and education services), training participation and selling the full portfolio. As a partner progresses their tier, their benefits increase. The programme was developed in collaboration with partners globally and its primary tenets are to be simple, predictable and profitable.

Winners Emerge in Lenovo Nationwide Promo Emma Okonji About 39 Nigerians have emerged as winners of various prizes in the 2016 edition of the Lenovo National promotion. The campaign commenced on December 19, 2016 and culminated in an elaborate raffle draw which took place at Lenovo’s Lagos offices on Friday, January 27. Four lucky individuals were announced as winners of star prizes of smart televisions while five won laptops from Lenovo’s world-class range. Also, 30 other finalists were rewarded with Lenovo Tablets and DVD players. To participate in the promo, customers were expected to purchase their Lenovo smartphone from the recently opened Lenovo Experience Store in Ikeja, Lagos or any authorised Lenovo smartphone retail stores nationwide towards standing the chance of winning any one of the prizes. Participants in the promo were also rewarded with instant gifts including recharge cards, notepads, gifts bags among others at each point of sale during the promo. In a statement, Smartphones Business Lead for Lenovo Technologies West Africa, Mr. Manoj Rajasekharan, described the promo as a platform for Lenovo to connect as well as drive significant engagement with its Nigerian consumers. “The Lenovo National Promo is our way of showing our appreciation to our customers for their loyalty and support. They are the major reason for our successes in the past year. The initiative also demonstrates our commitment to providing

Nigerians with additional value for every smartphone purchase. We look forward to rewarding our loyal customers with more initiatives of this kind,” he said. Rajasekharan added that Lenovo would continue to leverage on its expertise in mobile technology to improve the lives of its customers. The 2017 Lenovo National Promo builds on the wide success of the 2016 edition which saw 19-year old university undergraduate, Vivian Onyemaechi emerge as winner of the grand prize of a brand new Kia Rio in the final draw. The initiative was designed to make the holiday season more exciting for Nigerians. The January 27 raffle draw marked the conclusion of the 2016 edition of the promo and was executed in partnership with key smartphone dealers in the country. The event was witnessed by representatives of the Lagos Office of the Consumer Protection Council (CPC) and the Lagos Zonal Office of the National Lottery Regulatory Commission. Expressing his delight at the success of the promotion, Marketing Manager, Lenovo Technologies West Africa, Mr. Bolade Oyekanmi thanked the company’s customers for the very positive response they expressed towards the campaign. “We are very pleased with the overwhelming response that the 2016 Lenovo National Promo received during its run. The winning opportunities brought joy to the hearts of many Nigerians and we feel very happy to have been able to make this happen,” he said.

PARTNERSHIP FOR CLOUD SERVICES

L-R: Entrepreneur/Radio Personality, Rufai Oseni; Signal Alliance Microsoft Cloud Services, Kenneth Ufomba; Signal Alliance Chief Technology Officer, Yinka Ntia and MainOne Cloud Services, Wale Adeyemi at the MainOne/Signal Alliance Cloud partnership ceremony in Lagos ...recently

Halogen Security Partners TEDx to Showcase Ideas Raheem Akingbolu Halogen Security has partnered TEDx to unveil several life-changing ideas at TED Lagos 2017 idea search. The two-day event held at Café Neo and Muson Center, Lagos featuring different sessions aimed at sourcing ideas and speakers for TED Global event coming up in Arusha, Tanzania in August 2017. Speaking on the purpose of the event, CEO of TED, Chris Anderson noted that the event was a search for idea for the big event coming up in Tanzania

Police Arraign Sub-contractor of Eko Disco for Stealing Electricity Ejiofor Alike A forty-three year old man and sub-contractor of Eko Electricity Distribution Company (EKEDC), Sanni Kayode, has been arraigned by the police before an Igbosere Magisrate Court in Lagos on a two-count charge of felony and energy theft. The accused was said to have committed the offence with others who are now at large early this month at Number 6, Wolex Street, Korogboji Agbara in Lagos Island Magisterial District. According to the charge sheet read in the court, Kayode was accused of using his position as an electrician to Olajob Nigeria

Ltd, a sub-contractor to Mojec International to wilfully bypass prepaid meters that he installed at 6, Wolex Street Korogboji, Lagos. Mojec International is meter vendor for Eko Electricity Distribution Plc. The meter bypass was said to have been done after collecting gratification from the person for whom the meter was installed. It was further stated in the charge sheet that the bypass was done so that the meter would not record electricity units being used in the house and the occupants would not be paying for electricity consumed. The offence is punishable under section 321 of the Criminal

Laws of Lagos State of Nigeria 2011. When the charge was read, the accused pleaded not guilty and was granted bail in sum of N50, 000.00 with two sureties. The case has been adjourned till March 7, 2017. Commenting on the development, EKEDP’s spokesman, Mr. Godwin Idemudia advised customers of the company to shun meter bypass and other criminal acts in electricity consumption. Idemudia noted that energy theft remains an act of economic sabotage against the state, stressing that anybody caught should be ready to face full the wrath of the law.

later in the year. According to him, ‘’we are on a search for ideas. There are so many ideas across the continent that the world needs to know, as such, we are trying to find speakers from everywhere for the big event.’’ Anderson further noted that a similar event was held in Nairobi, Kenya where a really wide range of skills from creative people, photographers, filmmakers, environmentalists, farmers inspired people for the greater good of their communities. One of the speakers at TED Lagos 2017 and Founder of Prisoners Rehabilitation and

Welfare Action (PRAWA), Uju Agomoh reiterated the need for extensive prison rehabilitation in the country. She noted that the notion of being our brother’s keeper lies at the heart of rehabilitation of prison inmates, so they do not re-offend. According to her, ‘’Over 70 per cent of inmates in Nigeria are awaiting trial, which is a serious course for concern and it is time we started taking action about the things we feel uncomfortable about.’’ Other speaker at the event included Yvonne Chioma Mbanefo, who spoke on the need

to preserve our indigenous languages, Obianuju Ndaguba’s presentation was on Community Radio, Adebiyi Abiola presented on waste management, and Stephanie Busari spoke on the Chibok girls, with several other inspiring speakers. Commenting on Halogen’s position in the partnership, Associate Director, Brand and Strategic Marketing, Halogen Security Company limited, Uche Mojekwu explained that Halogen was responsible for the logistic securities for the guests - securing the perimeter where they stayed,

Baywood Eyes Acquisitions of Marginal Fields, Bigger Acreages Ejiofor Alike The President and Chief Executive Officer of Baywood Continental Limited (BCL), Mr. Chris Baywood Ibe has stated that his company is positioned to upscale its operations through the acquisitions of marginal fields and matured oil fields in Nigeria. Speaking to journalists in Lagos at the weekend, Ibe said the future for Baywood Continental Ltd was extremely exciting, adding also that the company would explore new frontiers in the energy sector, such as cluster power genera-

tion using abundant gas for upcoming new cities and towns. “Baywood Continental Limited is re-branding to achieve a brand equity balance between current and projected profile of the company. We have developed the broad and specific elements of the company strategy to actualise this vision. Therefore, the BCL organisational brand is one to watch out for; we will be more active across the print, electronic and social media platforms within the nearest future,” Ibe said. Ibe said the company had made massive investments in all key sectors of its operations in order to

sharpen its competitive edge and re-enforce its leadership position in these areas. According to him, this is in line with its corporate mission to be the “Provider of energy services that meet and exceed client expectations always’’. “This we have been able to achieve by constantly evaluating the business dynamics to position the company for optimal growth whilst maintaining profitability with a staff strength of over 1000 comprising some of the most experienced and competent personnel in the industry. We have made significant investments in our human capital.

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

EDUCATION ‘Alumni Contributed to LASU’s Current Academic Stability’ Mr. Cecil Esekhaigbe is the National President of Lagos State University Alumni Association and a retired Major General. In this interview with Funmi Ogundare, he highlighted the efforts of the alumni to ensure a crisis-free atmosphere and stable academic calendar in the institution, among other issues Before the emergence of the current management of the Lagos State University (LASU), the institution had been embroiled in various crisis ranging from strikes, scuffle between the institution’s chapter of the Academic Staff Union of Universities (ASUU), other unions and two of its past vice chancellors, students protests and rampages occasioned by tuition fees hike paralysing academic activities. However, under a new administration, the alumni association also under a new leadership, headed by Cecil Esekhaigbe moved by a passion to develop LASU, had to engage in constructive dialogue with the management to move the institution forward. According to Esekhaigbe, “it is about leadership and vision. If you recall in recent past, LASU used to experience all sorts of crisis either from the angle of government, management, students or various unions. The question of winner-takes-all used to be a big issue. The unions were not ready to give in and often ending in protracted crisis. But the new leadership has a very clear vision; it has a dream to take LASU to greater heights. “Above all, there are now constructive engagements between LASU management and other stakeholders. This is where the alumni has come in as a stabiliser. So the give and take culture is being restored and the university now enjoys a crisis-free ambience.” He compared the current alumni to what the university used to have, saying that it is all about what people are able to give back to their alma mater rather than what they will benefit from it. “The difference between the alumni before and now is that unlike the attitude of certain people who feel the alumni has to do with what they could profit from it, we believe it is about what we can all give back to our university,” he said, adding that along with the chairman, Board of Trustees (BoT) and others they are championing the course of development for the institution. “I am happy to tell you that the results are already manifesting, that is why the National Universities Commission (NUC) rated LASU as one of the best 20 universities nationwide. This is as a result of responsive leadership which has also given peace a chance.” On the efforts of the association to build an alumni centre, Esekhaigbe said, “we have set up a fundraising committee comprising members with integrity and goodwill in their own right. During the forthcoming fundraising which we

Esekhaigbe

are yet to announce the date, we are going to reach out to individuals and groups who have the knack for giving. Soon a committee will be inaugurated and members will roll out their plans. “What is left is the need for transparency because prospective donors want to know what you want to do with the money they are giving you. That is why we are insisting on having the architectural drawing and the

bill of quantity which is almost ready before the launching proper. The architectural drawing which we have now put on our various WhatsApp platforms is to sensitise the public of what we intend to come up with.” He added that the idea of having a bill of quantity is to get individuals that could donate material towards the construction of the centre and other things required to complete the project. “It is not everything that will be monetised;

we are looking for individuals that will say let me give you a trailer-load of cement or roofing sheet and all that. Therefore the bill of quantity will give you the idea of what is required to do the project. By and large, with the cooperation of the branches, meaningful progress will be achieved.” The president said the association is currently collating members’ database as a result of expansion of more branches springing up in Lagos, Abuja, USA and UK and Canada. “Right now, we have commenced registration of these branches so that we can have enough data to create the base. The one we had before was not elaborate and there is need for expansion. In a very short while, we will all see a database that will offer more exhaustive information on members and the alumni activities. “Very recently, we set up the Lagos Committee, we also have a mobilisation committee and one of its functions is to bring together more members that will form the nucleus of this database.” Asked how harmonious the different chapters have been in keying into the overall objective of the alumni, Esekhaigbe said: “Initially some of them had suspicion. They felt why should all activities be streamlined along the national body. But we made them realise it is all about one university and branches are established to provide a forum and voice for those who live particularly in the diaspora. Having understood that, many have registered with us to achieve that cohesion.” On the efforts of the alumni to address the financial or physical challenges of undergraduates, he said, “if you have been following our various WhatsApp platforms, you will realise we are not resting on our oars. Whenever we see the need to fill a gap, we promptly rise to the task, especially by putting such information on the platform for our undergraduate students and other alumni members to quickly tap into. “We have organised series of sensitisation workshops for our students. Very recently a 500-level undergraduate of medicine suffered a health challenge and the alumni were at the forefront of mobilising funds for his treatment in India. “During the Tony Elumelu distinguished lecture at the university last November, we mobilised our members especially the current students there to ensure they see a clearer picture of what the future looks like and how to gird their loins ahead of graduation.”

TETFund: Over 300 Institutions Jostle for Inclusion in Beneficiary List Kuni Tyessi in Abuja Various institutions have continued to mount pressure on the federal government to further review the laws governing the Tertiary Education Trust Fund (TETFund) for them to be listed as beneficiaries of the intervention fund. The Executive Secretary, Dr. Abdullahi Baffa, who made this known after inaugurating some of the agency’s projects in Kano, expressed concerns about the “ugly” development. Responding to the question on a request earlier made by the Chief Medical Director (CMD)

of the Aminu Kano Teaching Hospital, Prof. Aminu Mohammad for TETFund to extend its intervention to the hospital, Baffa said it would amount to illegality for teaching hospitals to be included as beneficiaries. He said reviewing the TETFund Act 2011 to accommodate more institutions would dilute the impact and defeat the aim of establishing the agency. “When I said over 300 institutions are jostling to be included as beneficiaries, it was a conservative estimate. They are more than that. They include all private universities, polytechnics, colleges of educa-

tion, all monotechnics that are public and all research centres. “We have 203 beneficiary institutions that we are supporting and we have request from over 300 other institutions that are not qualified by the act to be brought on board. “It is something worth looking at for us to expand the perimeter of the fund to include all these institutions, but we also have to look at the other side of the coin. Diluting the impact TETFund is making at the beneficiary institutions is going to be very counterproductive to the entire educational landscape.

Baffa added: “You recall that before 2011, TETFund was called Education Trust Fund, supporting education from primary schools to tertiary education. Because the original conception was targeted at supporting university education alone, government saw the opportunity to support the entire educational landscape which is good. “But when it was experimented up to 2010, the regulation or control was extremely difficult and government decided to review the act and concentrate the intervention on tertiary education. The act defines

tertiary education as public universities, polytechnics and colleges of education. In other word all monotechnics were excluded. “We are to provide the basic infrastructure for teaching and learning, support the equipping of laboratories, workshop studios, support research activities, training of scholars to acquire higher education, attend conferences, support the publishing of manuscript and also be able to support the publishing of journals by these institutions and such other things that will be needed to improve the overall

quality of tertiary education in the country. He stressed that from 2011 till date, the educational landscape has changed because of the concentration of intervention in these institutions. “For instance if we are able to give N300 million to every university, once we expand; maybe we will be able to give N30 million to each university and this will go nowhere.” The executive secretary noted that in 2015 for example, all universities in category A were given N338 million normal intervention, out of which N100 million was allocated for physical infrastructure.

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

EDUCATION

Why UNILORIN Withdrew Provisional Admission of 711 Students Hammed Shittu in Ilorin The Vice-Chancellor, University of Ilorin (UNILORIN), Professor Abdulganiyu Ambali, has disclosed that the purported withdrawal of the provisional admission offered to 711 students was because the affected candidates presented fake Senior School Certificate Examination (SSCE) results for the admission screening exercise. It was reported in some social media recently that the university had offered admission to 2,000 candidates and afterwards withdrew the admission from the candidates. Ambali, who briefed journalists on the development, said “the university decided to teach the rejected candidates who are only 711 a lesson for misguiding the institution.” He described the concerns over the withdrawal as un-

called for, saying, “the issue of people trying to say we collected their money and refused to offer them admission is uncalled for. “The affected students wasted our time. In any civilized society those people should be prosecuted. That is examination malpractice. If ab-initio, those people are using fraudulent means to come in you can imagine what they will do when they become our students fully. “But we thought they are young people, we say they should learn by losing the opportunity. They can reapply. We thought they have to be taught a lesson and that is why we kept quiet. They are just trying to portray the university negatively. You know the university has come a long way.”

According to the vicechancellor, “we have over 100,000 applicants competing for between 10,000 and 12,000 spaces you have to devise a means of telling about 90,000 to go home. We have to do that objectively. “During the first screening before we made any move to admit anyone, we used the screening based on what we have to prune down the number of candidates. Out of the 103,000 that applied we pruned it down to 60,000. We now asked the 60,000 to upload their SSCE results. Many people did and based on what they uploaded, the committee graded their results.

“That was the basis of our first admission list amounting to about 70 per cent of our carrying capacity. Probably about 7,000 and we then told them to either accept or reject the admission offer. So many candidates accepted it. And the next stage was to come for screening along with the originals of the SSCE results they had uploaded. When they brought them we compared them with what they uploaded. That was when we saw the difference. Some people that had C6 uploaded B1, some A1. Then we said they had misguided us because it was based on what you uploaded

that we graded and offered you provisional admission. That is why we rejected some of the candidates.” Ambali also denied that the suspension of two leaders of a faction of the Academic Staff Union of Universities (ASUU) loyal to the national body by the university management did not have any link with their petition against him. The suspended ASUU leaders are the factional chairman and secretary. “The suspension of the two academic staff purporting to be factional leaders of UNILORIN ASUU is the normal university’s regulation. If somebody is trying to cause disaffection

within the university system, he has to face the music. One of the persons had two queries before his suspension. Their suspension had nothing to do with the last move they made. “The crux of the matter is centred on insubordination by the staff concerned. Because the university has its own code of conduct for all its staff including all principal officers and the vice-chancellor. “The suspended staff had even tried to use students to destabilise the university system, but God so kind because of the nature of the students and the staff that we have sanity has been prevailing.”

French School Emphasises Bilingual Teaching, Curriculum Funmi Ogundare A French school, Lycée Français Louis Pasteur, Victoria Island, Lagos recently held an information session with parents of primary school pupils to explain the school system and elaborate on its French curriculum, making comparison with other international curricula. It also highlighted its bilingual teaching. The Principal, Mr. Alain Berna, said the session was designed to give parents insights into how the French curriculum and education system works, adding that the increasingly competitive nature of the world today has made it more imperative that the youths are exposed to a comprehensive set of values towards preparing them for their future. Highlighting the features of the French educational system, he said it promotes strong positive values such as freedom, equality, togetherness, respect, spirit of justice, solidarity, freedom of speech, openness, creative spirit, among others. “Pupils that pass through Lycée Français are trained to develop curiosity and courage with which they can excel in all of their chosen endeavours. At Lycée Français, parents can be assured of a teaching language that is rich, varied and efficient.” Berna described the French Language as the paramount language of instruction, saying that it does not overshadow learning in many other languages like English, Spanish, German and others on request. He said the school takes advantage of the diversity of its students and the languages they practice to make plurilingual education one of its priorities.

“The curriculum information session was designed for parents whose children and wards are currently in primary schools or preparing to enter primary school. The primary school is the gateway to the French school system, which is divided into the eight kindergarten classes and 14 elementary classes.” The Director of the Primary School, Mrs. Pascale Lagleize, said its ambition is to provide all pupils, irrespective of their origin with quality, content-rich, multilingual and multicultural education, as well as universal values. While following the French National Curriculum, Lagleize said students benefit from reinforced English teaching through the bilingual system, adding that personalised support, citizens, artistic, cultural projects, as well as numerous extra-curricular activities complement the teaching and allow pupils to learn at their own pace and to flourish. The French curriculum presentation was facilitated by the Head of Pedagogical Training, Olivier Alfonsi. He said aside getting a certification in French Language, the pupils are also taught values and responsibilities that would enable them see life the artistic view and do discussions. “We consider that the children we are teaching are the future therefore as citizens, it is a very important aspect of our teaching so that they can know their values and responsibilities. We have our curriculum based on mastering and other subjects but the aim is to focus on what we want them to know about the world because the world is changing and the challenges of today are huge. They have to know those challenges.”

BOOSTING MEDICAL STUDIES

German-based Dr. Alanna Ebigbo (left), educating some staff of the University of NigeriaTeaching Hospital (UNTH), Enugu State on the operations of the endoscopy machine, which he donated to the hospital… recently

NFVCB to Improve Monitoring of Media Contents for Students Ugo Aliogo The National Film and Video Censors Board (NFVCB) has expressed its desire to improve the monitoring of media contents meant for students through the media literacy campaign. The Zonal Coordinator NFVCB North-Central Region, Jos, Paul Ailewon, disclosed this recently in Lagos at the Safer Internet Day (SID) event with the theme ‘Be the Change: Unite for a Better Internet’, organised by NFVCB and Homevida with the support of Google. He regretted that there is a huge challenge for parents, especially in monitoring the media contents children are exposed to daily, adding that most parents have abandoned their duties as custodians because they are

chasing other things “and they believe that when they buy these children technological gadgets, it is alright.” Ailewon advised parents not to be concerned with just buying gadgets for their children, but should seek to guide them appropriately, adding that as part of the media literacy campaign, they visit schools, churches and mosques to educate parents about their own duties and what the children are exposed in the media. “In terms of censorship and monitoring of these movie contents in cinemas, we have procedures where we do censorship of movies at our zonal offices nationwide. While for foreign movies we do them at cinemas where we monitor them and follow up thereby ensure that there is a

high level of compliance and where we have defaults we put in appropriate sanctions such as fines and prosecution. “We need parents to be alive to the contents that their children are exposed to as part of their responsibilities. We are setting up school clubs where students come together to educate themselves. From time to time, we will be coming to talk to them.” The zonal coordinator called for concerted efforts to ensure that the media contents children are exposed to are properly monitored, stating that if not addressed there are inherent dangers in some of the contents. In her remarks, the Chief Executive Officer, Homevida, Seember Nyager, said the organisation has been trying to create incentives for

young film makers to produce movies that promote integrity. She explained that young people are the custodians of what lies ahead for them and that they are the most engaged in social media. According to her, they need to be given a good head start, while considering that they are in an age where they are effective users of the internet. Nyager expressed hope that the initiative would be effective, saying that this is the third time of organising the programme and they have reached out to learners and students in various geopolitical zones, while anticipating that the programme would provide a platform to expand on their activities. “The entire aim is that they pass it on from one person to the other in what they do.”

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

EDUCATION

Experts Educate Pacesetters Kuni Tyessi in Abuja Parents are expected to teach their children personal hygiene; the right kinds of food to eat; provide the necessary information they need before the use and consumption of things, as well as safety tips to live long and strong with good academic performance were some of the tips given to pupils of Pacesetters Academy, Wuse, Abuja during the annual health fair day organized by the school recently. Dr. Agnes Felix-Udoh of the National Hospital, who spoke to the pupils and parents on personal hygiene, said the topic was necessity as what children learn in their formative years would be part of

them in adulthood. She said adapting to puberty will not be difficult once the foundation has been well laid. “A dirty child will be ridiculed and bullied by the classmates and that is the social and psychological implication of not equipping a child well enough at the early stages of life when it comes to personal hygiene. Therefore, parents must teach their children about personal hygiene and how to take care of themselves.” A representative of the Primary Healthcare Development Agency, Mrs. Pricilla Ikparen, educated the pupils about the importance of PHCs in every ward in the country. She stressed that it should be the first place of call in terms of illnesses as medicines, adding that testing kits and

other facilities have been provided in each PHC to deal with basic health discomfort. In her paper titled ‘Danger of Food Poison’, the Director General of the National Agency for Food and Drug Administration and Control (NAFDAC), Mrs. Yetunde Oni, encouraged the pupils to always check for manufacture and expiry date, place of production and name of manufacturer on every product before consumption. This she said will save them from many counterfeit products that have flooded the Nigerian markets. She was represented by Pharm T. Adesanya. Other health activities during the programme included karate display, debates, making of smoothies and juices, among others

L-R: Former Senate President, Adalphus Nwagbara; Principal, Pace Setter Academy, Wuse, Mr. Segun Awogbade; representative of the Minister of Health, Abraham Sunday; and Principal, Pace Setters College, Wuye, Roseline Olumobi, during the Pace Setters’ Academy Wuse International Health Fair in Abuja… recently J ulius Atoi

‘Catholic Educational Institutions Aim to Promote Critical Thinking’ Bassey Inyang in Calabar The National Association of Catholic Diocesan Directors/Secretaries of Education (NACDDED) has stated that its educational institutions must provide the type of teaching and learning that will produce critical thinkers that will contribute meaningfully to the development of the society. It stated this in Calabar, Cross River State, during the national conference hosted by the Metropolitan Archbishop of the Calabar Archdiocese, Most Rev. Joseph Ekuwem recently. The National Chairman of the association, Rev Fr. Richard Omolade, who made this known, said Catholic education “must be such that radicalism is extinguished by the force of critical thinking and not unthinking defense of God.” He said Catholic education must be seen to be truly holistic, producing not just religious thinkers, but also scientists able to contribute to human development, especially in an age where religious bigotry and fanaticism are on the rise. “Catholic education today must be structured as to prepare people not just for now, but for the future. Critical thinking skills must be an integral part of that education such that our students are helped to think critically so that problems can be solved in their unique varieties,

instead of parroting answer fashioned by teachers. “Catholic education must bequeath to the world a civilization of love, not just a civilization of certificate. It must focus on the promotion of a culture of life as against the current culture of death in a world riddled by unselfish bullets of choice, waste and destruction. It must also strive to preserve her identity as a faith-based educational enterprise.” The association disagreed with the education policies of the state and federal government that tend to lump all educational institution under a single curricular, adding that demanding uniformity in teaching and learning discourages creativity and uniqueness. At the end of three-day conference with the theme ‘Catholic Education: Yesterday, Today and Tomorrow- The Way Forward’, an 11-point communiqué signed by Omolade and the National Secretary, Rev. Fr. Dominic Umo, among other recommendations, condemned the role of the ministry of education in some states, alleging that the ministry was trying to compel Catholic schools into membership of the National Association of Proprietors of Private Schools/ Association of Private Schools Owners of Nigeria (NAPPS/APSON). The document read in parts: “Catholic schools should work in closer partnership with other stakeholders in education such as the government, communities, alumni

associations, Parent Teacher Associations (PTA), in keeping with the mission and vision of Catholic education. “Catholic schools are encouraged to be involved in curricular and co-curricular activities which will promote friendship and healthy competition. The management of Catholic schools should continue to ensure constant inspection, supervision and evaluation for quality assurance. The communique also called on the management of Catholic schools to ensure that they remain communities of faith where sound morals, Catholic core values and academic excellence are upheld. “The management of Catholic schools should keep emphasising the use and control of ICT in enhancing teaching and learning. Government is reminded of her responsibility to provide grantsin-aid and other necessary subsidies to Catholic schools as they are social welfare schools “Government should provide additional measures to ensure adequate security and safety of our children in schools. We recall with satisfaction the immense contribution and quality that Catholic education has brought to our nation. The courage and sacrifices of the early missionaries which bore tremendous positive fruits will always be remembered and sustained in our lives and times.”

Need to CultivateYour Child’s Crystallised and Fluid Intelligence I have, in the past suggested to you that every child needs to have an adequate intake of ‘brain foods’ regularly. This appears to be one of the several ways to raise a young child’s IQ levels. Scientific researches have found that oils that are high in Omega 3 fats, which are found naturally in oily fish such as: sardines, mackerel (eja Oku-Eko), salmon, Herring, Cod, boost brain power. Omega 3 fatty acid which is also known as Docusahexaenoic Acid (DHA) is found in high concentration in the grey matter of the human brain. DHA is important in the development and proper maintenance of the brain. Just like a machine does, your brain too needs oil in the form of Omega 3 and Omega 6 (found in corn and soya beans) to run smoothly. It is suggested that for optimal brain function, you (and your child) should consume fish at least two to three times weekly. If your child’s diet does not include enough fish, you may want to consider giving him/her supplements of fish oils. Check with your doctor or pharmacist on this. Your child’s fluid intelligence, that peaks in their young adulthood, and the knowledge they are ever so actively storing up at school and at ‘lessons’, need other sustained practical boosting as they grow. Ensuring that children eat breakfast is beneficial to their brain function. Those who eat well balanced breakfasts have been found to show improved memory, creativity, focus and overall performance. Furthermore, to continue to boost brain health, particularly for memory and intelligence, serve your child adequate portions of meat and fish during the day. Give your child some time to play video games. Many video games have been found to improve Maths abilities and classroom behaviour. Likewise, encouraging children to do word searches and word puzzles also keep their minds sharp. You may want to regulate the time your children spend on these so as not to compromise on the time they spend on their studies. Furthermore, children need time to listen to music. Research suggests that there is a relationship between listening to music and improved memory. In addition to this, time out for music is said to boost skills in science and maths. Is your child getting enough sleep? Most people need to have between seven to eight hours of sleep each night. For your child and you, an adequate sleep allows your brain to process what has gone on and reset for a new day, thereby strengthening memories. Lastly, allow your child to get a bit messy or untidy at times. Steer them towards creativity such as in planting flowers, building and construction work using materials like match-sticks, bottle tops, wine bottle corks etc., water paints and water colour etc. Remember that in using their minds to create things, children are improving their ability to think, predict, rationalise and problem-solve, to mention but a few vital mind and brain processes. . Omoru writes from the UK

Foundation Holds Mentorship Session for Teachers The FundaWazi Foundation, a non-governmental organisation spearheading the welfare of children, will on March 10 host the maiden edition of the Teachers Exploring through Mentorship (TEM). The mentoring programme, aimed at supporting and guiding teachers, school owners and care givers in their career; enhancing teaching practice and student learning; finance and other professional goals, as well as creating a plan towards achieving them, will hold at the Multipurpose Hall, The Fountain of Life Church, Ilupeju Lagos. Time is 10am. According to the Cocoordinator, Mrs. Abisola Soneye, the programme is borne out of the passion to restore mentorship, which is a missing puzzle in the teaching profession in Nigerian schools. She noted that the programme will be an important mechanism for teachers to build a high-performing and competent career which will guarantee the longevity

of schools. She said the event will also provide career development opportunities as well as capacity building and the ability to further duplicate the mentorship attitude in their profession and way of life generally. According to her, professionals from leading sectors and educational institutions will be handling the programme. They include the founder of the foundation, Mrs. Nomthi Odukoya, who is an educationist, life coach and writer; the Executive Director Greensprings School Lagos, Mrs. Lai Koiki; the Chief Executive Officer, Corona Schools Trust Council, Mrs. Olufunto Igun. Others are the Principal Transformation Strategist, Kunle Soriyan and Co, Mr. Olakunle Soriyan; a financial analyst/stock broker, Mr. Muktar Mohammed; and the Principal, Taiwo Akinlanmi Academy, Taiwo Akinlanmi.

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

EDUCATION

UNILAG Sociology Dept Turns 50, Seeks Town, Gown Rapport Peace Obi The Department of Sociology, University of Lagos (UNILAG) has rolled out the drums to celebrate what it described as 50 years of commitment to accomplishing the goals of transformation of society. Briefing journalists on the activities marking the 50 anniversary, the Head of the Department, Dr. Olufunmilayo Bammeke, said the event will be celebrated with the theme ‘Sociology and National Development’. Emphasising on the timeliness of the theme, she said the event came at a time when the country’s development crisis is deepening despite its natural and human resources. She added that the rising case of youth unemployment and the consequent increase in youth restiveness, ethno-religious conflicts and other divisive factors have posed serious obstacles to development. “The discipline of sociology offers plausible suggestions for the understanding and

resolution of these development issues.” Bammeke said the event would provide an appropriate platform to underscore the significance of sociology in addressing Nigeria’s development challenges, adding that the department has over the years been engaged in proffering solutions to various development issues confronting the country through scholarship and research. Highlighting some of the achievements of the department in the past 50 years, she said: “In the 50 years, we have built manpower to train teachers; to train sociologists who will not necessarily be teachers, but will be working in different parts of the society. What we have done is to train manpower for society, embarked on research, produced books and journals. That is what we are paid to do and that is what we have been doing over the years.” The HOD however said though the department has recorded many giant strides, the gap between the academia and the town has hampered a wider impact of its contri-

butions to the society. “The utility of research findings comes from the policy makers adopting some of these recommendations. You find out that people have very good findings, but when it comes to taking decisions, they are jettisoned. So, there is this break between the academia and the policy makers which shouldn’t be.” Speaking on the need for sociology to be made more visible, Dr. Ndukaeze Nwabueze called for the introduction of the course in secondary schools, saying that the teaching of sociology at that level will curb the level of ignorance on social relations and interpersonal behaviour among secondary school students. “As it is now, there is so much ignorance in the populace about the principles of social relations; and because we are becoming more complex as a society, we now have to put some more efforts to carry the youths along so that before they get into the university, they know the rudiments of social relations and interpersonal behavior.”

Reiterating the importance of sociology in national development, Dr. John Oyefara said the department has contributed significantly to the development of Nigeria. “At the natural level, we have contributed significantly in the area of reduction of HIV, maternal death, infant mortality, ideas on how to improve life expectancy, among others.” Citing Lagos State as one of the beneficiaries of its research findings on development, he said some of its recommendations on development are still being used in the state. On the activities marking the anniversary, Oyefara said there will be an awareness parade on February 23, while a distinguished annual lecture with the theme ‘Sociology and National Development’ will be delivered by Prof. Tade Aina on March 16. Other programmes include a round table on June 27; UNILAG Sociology at 50, September 12 -14; and alumni reunion and award ceremony.

RUNNING THE CLASSROOM

CHIOMA ERUOTOR

Reason for Being a Teacher Teachers are great in the sense that they mould lives. Travel with me

on this journey of discovery why teachers are ever young. · Teachers make massive difference in the lives of young people even when they do not realise it. They might not know how many children have taken their words of wisdom to heart and will go on to repeat them to their own children even their own classes. In fact, it is more than you can imagine. · Hanging out with children all day keeps the teachers young and ensures that their vocabulary, research, fashion and task remain current and relevant to the ever changing society. · Teachers are role models that people look up to for advice and guidance. Well, does that feel pretty good? · Teachers build positive relationship with pupils/students, colleagues, parents and even wider community. · There is constant laughter as teachers interact with these young minds. Sure, the benefits of laughter cannot be overemphasised. Learning is fun for both learners and teachers. Every called teacher experiences a worthwhile inner joy whenever a learner’s attitude changes positively because of what he heard the teacher say or saw the teacher do. · Teaching profession is very rewarding. For instance, for every one that gives a teacher a hard time and complains about the quality of training days, there are 10 to appreciate the extra mile the teacher goes for their children. · Getting to see pupils/students “make it” after they had left school leaves teachers with sensational feelings knowing that you played a part in someone’s life towards achieving or even surpassing his/ her dreams is the ultimate in job satisfaction. · Teachers are equally taught by their pupils/students. Every teacher has had that moment when more so, seeing excitement in children thrilled by a topic makes the teachers’ day worthwhile. Once a teacher can blow a mind now again, he/she becomes a constant source of interest. · Teaching is both a noble profession and a high calling. Though the job does not attract much payment as some desire, the joy of putting smile on a child’s face surpasses all odds and challenges encountered in the job. · Teachers are often showered with “thank you” and handmade cards from children, which go a long way to cushion the stress of the day. These seemingly little but mighty acts of children make the teachers fulfilled. Just as the lots of “hello! Mrs. Jones. You taught me science in I.U.S six years. I’m now this or that” are highly refreshing, rewarding and encouraging. · Finally, my fellow traveller, how was our journey to discovery? Do you know why teachers are ever young? Is teaching not actually the best job? . Eruotor writes from Lagos

College Provost Reads Riot Act to Students The Provost, Abia State Col- ment, the college is now REVIVING READING CULTURE

The newly-signed Etisalat brand ambassador and singer, Simisola Ogunleye, popularly known as Simi (third from right) with students of Princeton College, Surulere, Lagos during her visit to the school as part of the Valentine’s Day celebration… recently

AUST to Inaugurate N2bn Lab Next Month Dele Ogbodo in Abuja The President, African University of Science and Technology (AUST), Abuja, Prof. Kingston Nyamapfene, has announced the university’s plan to inaugurate a state-of-the-art science and technology laboratory worth N2 billion on March 30. He said the laboratory equipment was realised through donations from its partners some of whom included the federal government, African Development Bank, World Bank, Guaranty Trust Bank, Zenith Bank and United Bank for Africa. Briefing journalists on activities marking the 10th anniversary of the institution in Abuja, Nyampfene said AUST has graduated 332 masters and 22 PhD holders from 19 different African countries. He said AUST is a Pan-African institution, established in 2007 in response to a request from Nelson Mandela of South Africa and several African heads of state, that the World Bank and the African Union work together to create

strong Pan-African centres of excellence to improve Sub-Saharan Africa’s capacity in science and technology. He said the institution was the first of the centres of excellence to be established in Africa, adding that currently it only offers postgraduate programmes at masters and PhD levels. “The university offers world-class research in specially selected science and engineering disciplines. The research is designed to have an African focus, targeting African problems and finding solutions that have a strong African flavour. The president said AUST’s catchment area is therefore not Nigeria, but the whole of sub-Saharan Africa. “AUST represents a new way of doing things in the higher education sector in Africa. We emphasize academic excellence, accountability and transparency. “Our philosophy is also to go beyond just science and ensure that we produce people with entrepreneurial flair and a compassionate spirit to help transform

communities and improve the human condition across Africa. Well-established international network of scientists and engineers who serve as visiting faculty. “As part of its quality assurance structures, the university also draws on the knowledge, experience and wisdom of a global interdisciplinary team of scientists and engineers, members of the African Scientific Committee (ASC) and an International Scientific Advisory Board (ISAB).” To further ensure quality, he said students are not automatically admitted on the basis of the paper qualifications, but they have to go through a competitive entrance examination for the MSc and doctoral candidates. On the university’s achievements in the last 10 years, he said: “Specific examples include the work of Kwabena Kan-Dapaah on implantable composite devices for the localized treatment of breast cancer; John David Obayemi’s work on nano particles for breast cancer detection and treatment.

lege of Education (Technical) Arochukwu, Dr. Philip Nto, has warned that the institution will not hesitate to expel any student that engages in any anti-social behavior such as cultism, examination malpractice and rape. Speaking at the inauguration of the newly elected executives of the Students’ Union Government (SUG) led by Kelechi Mba, the provost said the institution adopted the policy of zero tolerance for cultism and examination malpractice so as to produce graduates that will be the true leaders of the society. He said a conducive learning environment has been created for the students to excel, especially with quality lecturers, newly renovated hostels and other facilities. According to Nto, when he assumed office a year ago, the institution was without public power supply while the hostels and the entire environment were rundown. He expressed delight that the situation has changed. “Through the deliberate and sustained innovation policy of developmental framework evolved by the new manage-

attracting more students.” He said with the affiliation of the college to Michael Okpara University of Agriculture, Umudike, students can now do a straight four-year degree course, including the acquisition of relevant skills. Nto disclosed that for the first time since the inception of the college, the management has started the issuance of certificates to its graduates. He therefore urged the students to take advantage of the positive changes and work towards excelling in their academics with the assurance that their certificates would be issued to them upon graduation. While announcing that the institution is still admitting more students who desire to acquire technical and vocational education, the provost appealed to the new SUG executives to work for the students that elected them and to develop their political careers from school. While swearing in the students, the Deputy Provost, Dr. Sam Iheonunekwu, enjoined them to respect the rules of the institution and protect the interest of students.

WEDNESDAY, FEBRUARY 22, 2017, â&#x20AC;˘ T H I S D AY

CITYSTRINGS

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

Gangsters Meet Their Waterloo The Ogun State Police Command's onslaught against criminal elements terrorising residents in the state and its environ has continued to yield results. Femi Ogbonnikan, who interviewed two gang leaders of suspected cultists, reports on their reign of terror

The 17 suspected cultists arrested by the police

Leaders of the two cult groups

emesis has caught up with 17 persons suspected to be cultists who have been responsible for various attacks on residents of Ijebu-Igbo, in Ijebu North Local Government Area of Ogun State. The 17 suspects who are currently cooling their feet in the protective custody of the operatives attached to the Federal Special Anti-Robbery Squad (FSARS), Ogun State Police Command, Imagbon, Abeokuta, were apprehended on Thursday, January 12, 2017, following a bloody clash between members of two rival cult groups, Eiye and Black Axe Confraternity, in the sleepy town of Ijebu-Igbo, by men and officers of Ijebu-Igbo Divisional Police Station and Ijebu-Ode Area Command, led by its Commander, Mr. Funsho Ajao, Assistant Commissioner of Police (ACP). According to the Ogun State Police Command

According to the Ogun State Police Command Public Relations Officer, Mr. AbimbolaYemi, an Assistant Superintendent of Police (ASP), the 17 suspects were arrested, following an outbreak of violent clash between the two rival groups at four different locations within the ancient town, during which dangerous weapons such as guns, cutlasses, axes and assorted charms were deployed

Public Relations Officer, Mr. Abimbola Yemi, an Assistant Superintendent of Police (ASP), the 17 suspects were arrested, following an outbreak of violent clash between the two rival groups at four different locations within the ancient town, during which dangerous weapons such as guns, cutlasses, axes and assorted charms were deployed. The Police image maker said that it took the swift intervention of the Divisional Police Officer (DPO) in-charge of Ijebu Station, Mr. James Agene (SP) and the Commander, Ijebu Ode Area Command, Mr. Funsho Ajao (ACP) to curtail the situation from degenerating. At the end of the ensuing melee, the Police spokesman stated that the 17 suspects were picked up at different locations within the ancient Ijebu-Igbo town, and that they had been transferred to the operatives of the State Criminal Investigation and Intelligence Department (SCIID) of the Ogun State Police

Command Headquarters, Eleweran, Abeokuta, on the order of the Ogun State Commissioner of Police, Alhaji Ahmed Iliyasu, for a discrete probe into the matter. However, two leaders of the two rival cult groups, in an encounter with our reporter, gave accounts of their individual roles during the fracas and how they were apprehended by the police. Rasheed Owoseni, whom the police claimed to be a leader of the Eiye Confraternity, denied his membership. According to the 23-year-old suspect, who claimed to be a bricklayer by profession and a resident of Okemoje Street, Ijebu-Igbo, said he was arrested in error by the police. "I was arrested by the police with the complementary efforts of members of the Oodua Peoples Congress (OPC) and that of the Vigilante Service of Ogun State at about 10: 00am on Wednesday, January 12, 2017,

WEDNESDAY, FEBRUARY 22, 2017, â&#x20AC;˘ T H I S D AY

CITYSTRINGS

Ogun State Commissioner of Police, Alhaji Ahmed Iliyasu

A locally made pistol recovered from the cultists

behind the Ijebu-Igbo Police Station. To say the truth, they found on me assorted charms, but they were meant for my protection. When they insisted to know what I was doing with those charms found on me and I still convinced them they were meant for my protection and they asked me to eat them, which I did before them. And nothing happened to me. I know how notorious our people are in Ijebu- Igbo and I had to fortify myself spiritually. We have hoodlums who are all over the place. And that was how the juju was found on me. I usually had the juju on me whenever I went out to avoid taking risk. "But they were not satisfied with my explanation and I was handed over to the policemen and officers at the station. "I attended St. James Primary School, Atikori, in Ijebu-Igbo and subsequently, I went to Orimolusi College, Oworonshoki, Lagos, but I dropped out when I was in Junior Secondary School (JSS) 2. From there, I took after my father's profession and I learnt bricklaying. I wasn't a brilliant student in school and so, I decided to drop out and learn a trade in bricklaying which my father is doing. It was recently I relocated back to my home town, Ijebu - Igbo, settled down where I have been

L-R Rasheed Owoseni and Adewale Adebayo

working as a bricklayer. "I swear with my life, that I am not a member of any cult group and I will never join," said Owoseni.

I was arrested by the police with the complementary efforts of members of the Oodua Peoples Congress (OPC) and that of the Vigilante Service of Ogun State at about 10: 00am on Wednesday, January 12, 2017, behind the IjebuIgbo Police Station.To say the truth, they found on me assorted charms, but they were meant for my protection

In his own confessions, Adewale Adebayo, 25 years old, who the police alleged to be a leader of the Black Axe Confraternity, also denied his membership of any of the two cult groups he was arrested in connection with. According to Adewale, who is fondly called Baba Sodiq, said his arrest is an act of vendetta. "I had a running battle with the members of the Oodua Peoples Congress (OPC) in Ijebu-Igbo sometime in year 2013. On that particular day, two members of the OPC who were on a motorcycle hit my elder brother, identified as Wasiu, while he wanted to cross the road. It was a serious encounter and I fought them. I witnessed the incident and I asked them to rescue him and take him to a nearest hospital for treatment, but they declined, left my elder brother lying down, writhing in pains and they sped off. I chased after them and a fracas ensued. "Since then, they had been keeping malice and they just seized this opportunity to get back at me and roped me into the crime I knew nothing about. I have had a premonition that this was what was going to happen to me," he said. On how he was arrested, "I am a herbalist.

I treat ladies who are looking up to God for the fruits of the womb. I also prepare blessing charms for those who come to me. I was standing in front of my house at Okesopen, Ijebu-Igbo, when these OPC men came for me. They rough-handled me and handed me over to the officers and men of Ijebu-Igbo Police Station. The time was 12: 00 noon on that fateful Wednesday, January 12, 2017, said the father of two children. "I attended Muslim Primary School, Okesopen, Ijebu-Igbo and subsequently, Abusi Edumare College, Odasanyin, Ijebu-Igbo," Adewale added. However, ASP Abimbola Yemi said that the Ogun State Police boss has enjoined the good people of the state of the readiness and commitment of the command to live up to its constitutional responsibilities of saving the lives and property of the citizenry. Besides, the police image-maker stated that the CP is seeking the support and cooperation of the people of the state in the area of providing relevant information that would aid the police to apprehend criminal elements living among the residents of the state. Yemi further added that the suspects will be arraigned in court as soon as investigation is concluded into the matter.

WEDNESDAY FEBRUARY 22, 2017 T H I S D AY

T H I S D AY WEDNESDAY FEBRUARY 22, 2017

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

BUSINESS/MONEYGUIDE

Anchor Borrowers: Keystone Bank Supports Farmers with N350m Nume Ekeghe Keystone Bank Limited has boosted the Anchor Borrowers Programme (ABP) with a N350 million credit line. The credit line covered 1700 farmers in Taraba and Sokoto states. The Managing Director of Keystone Bank, Mr. Philip Ikeazor, who disclosed this in a statement, underscored the importance of financial institutions in driving the agricultural sector. He said: “Financial institutions have a crucial role to play in providing support to players along the agriculture value chain and the Central Bank of Nigeria’s (CBN’s) initiative of the Anchor borrowers programme is a step in the right direction. Financing in agriculture is one factor of production, which facilitates the

acquisition, procurement and management of the other factors of production such as land, expertise and management.” According to experts in the agricultural sector, the low volume of business in the rural areas where poverty is most prevalent cannot guarantee sustainable business activities to encourage the establishment of commercial banks to provide the needed finance for agricultural production. Moreover, the cost implication of processing agricultural loans in the rural economy makes it unattractive for conventional banks to channel their resources to farming. Although, the commercial banks finance agricultural activities but their credits are urban-based and so small that their impact cannot be felt in the rural areas where

farming actually takes place. Lack of priority attention to rural population in credit delivery by commercial and other banks in the economy contributed to the depressed economic conditions in the rural economy, and this situation also affects the overall economic growth and development of the nation. With the recent focus by the federal government on diversification of the economy, agriculture is being promoted in many quarters as the next frontier in driving the economy of the nation. The Anchor Borrowers’ Programme, which was initiated by the CBN as a sub-shoot of the Micro, Small and Medium Enterprises Development Fund (MSMEDF) was created to support farmers and increase their production capacity.

Sterling Bank’s Enugu Branches Re-open for Business Obinna Chima The branches of Sterling Bank in Enugu yesterday reopened for business after reconciliation with the state’s government’s Board of Internal Revenue Service (BIR). The BIR had reportedly closed eight banks including Sterling Bank branches in Enugu on Monday for alleged failure to pay withholding tax to the Board. But in a statement signed by the Chief Marketing Officer, Sterling Bank, Henry Bassey, the lender said: “The reported closure came to us at Sterling

Bank as a shock considering the robust relationship that exists between the bank and the board just as we had conducted ourselves as a responsible corporate financial institution through prompt payment of all our taxes, fees, levies and all other payments not only due to BIR but to all government institutions both at the states and national level. “We would like to confirm that the board approached the bank with a request to pay outstanding withholding tax to it which we agreed to settle but after due reconciliation of the books. We had scheduled

a meeting with the officials of the board this Monday only to hear of the closure of our branches on Sunday night. While the bank said it was not joining issues with the board over the closure, it said the government agency “should have waited for the conclusion of the process of reconciliation before engaging in the closure of the branches without due consideration of the effect of such closure not only to the Bank but on our numerous customers who have been denied access to their funds for business opportunity and personal use.”

Paga, Others to Fast-track Remittances Between Europe, Nigeria Eromosele Abiodun

Paga, a payment and financial services company, yesterday announced that it recently went into partnership with MoneyTrans, a leading Money Transfer company and TerraPay to launch cross-border remittances from Spain to mobile wallets in Nigeria. Paga in a statement said Nigerians in Spain can now send money to any mobile phone number in Nigeria through its platform, by visiting the nearest MoneyTrans store. “The recipient can withdraw money from more than 11,000 Paga agents across Nigeria or make card-less withdrawal

from ATMs. The recipient can also use the money to pay bills, buy airtime or send the money to any other phone number or bank account in Nigeria, among other services, “it stated. The company added that the mobile based cross-border remittance service has been launched in Spain and will be followed by successive launches in Belgium, France and Italy in the coming weeks. Commenting, the Chief Operating Officer of MoneyTrans, Mr. Jeremy De Smet said, “We are glad to take another huge step in enabling mobile money services in Africa. TerraPay is well positioned to offer a strong solution building upon and

leveraging a major technical infrastructure that has been in place for many years in Africa.” Speaking on the partnership Co-founder Paga, Jay Alabraba, said, “We are happy to collaborate with TerraPay and MoneyTrans in enabling secure transfers between Spain and Nigeria, the first of several important remittance corridors we will be launching together. By combining Paga’s extensive reach with the proven capabilities of TerraPay and MoneyTrans in the international remittance space, we are bringing to market a seamless and easy-to-use facility for Nigerians at home and in the diaspora.”

South African Retailer Shoprite’s Profit Jumps in Nigeria, Angola South African retailer Shoprite reported a 15.5 per cent jump in half-year profit, buoyed by sharp sales growth in Angola and Nigeria. Shoprite just scrapped plans to merge with Steinhoff International on Monday. Shoprite, which sells mostly groceries, has grown rapidly outside its home market with sales in other African countries now accounting for more than a fifth of the retailer’s total. A merger with Steinhoff International would have created an African retail giant, but the plan was called off after minority shareholders

complained that the proposed deal would offer little value for Shoprite, Reuters reported. Some analysts said there were no obvious synergies between the two businesses. Shoprite reported diluted headline earnings per share of 460 cents for the six months to end-December in line with forecasts and compared with 398.2 cents a year earlier. Sales in Angola surged 155 per cent from a year ago, while Nigerian revenue jumped 60 per cent. Both are important growth markets for the retailer, but experienced a shortage of

foreign exchange as oil revenues remained under pressure affecting economic growth. However, Shoprite said it was able to fund its stock requirements from its external balance sheet and kept shelves stocked while many traders in the region struggled. “It was exceptional growth and we must be cautious because to continue at 150 per cent is unlikely,” Chief Executive Pieter Engelbrecht, said in an investor presentation. He took the reins from stalwart Whitey Basson in January.

Rice farm

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 • Source - CBN

MANAGED FUNDS Month Inter-Bank Call Rate

December 2016 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 • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT, MONDAY, 20 FEB 2017 The price of OPEC basket of thirteen crudes stood at $53.49 a barrel on Monday, compared with $53.11 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), 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

T H I S D AY • WEDNESDAY FEBRUARY 22, 2017

Nigeria’s top 50 stocks based on market fundamentals

21-Feb-17

20-Feb-17

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

168.99

169.00

-0.01%

2,879,675,346,370.95

9.20

18.36

5.07

4.73%

3.85

02 Nigerian Breweries Plc

125.00

119.81

4.33%

991,137,611,000.00

4.03

30.98

3.29

2.88%

6.05

03 Guaranty Trust Bank Plc

24.01

24.29

-1.15%

706,642,613,168.24

4.90

1.76

7.37%

1.44

599.99

0.00%

475,585,824,637.48

8.81

68.09

2.75

4.83%

15.07

14.70

14.99

-1.93%

461,528,458,654.20

3.91

3.76

0.97

12.24%

0.66

370.01

380.00

-2.63%

204,730,348,913.13 -44.58

-8.30

2.64

4.30%

0.52

6.88

6.71

2.53%

199,024,444,821.28

2.59

2.66

0.56

7.99%

0.45

08 Presco Plc

47.00

47.01

-0.02%

186,612,421,115.00

0.03

1,607.40

2.62

2.77%

4.46

09 Lafarge Africa Plc

39.90

42.00

-5.00%

181,740,582,219.00

-9.39

-4.25

0.85

7.52%

0.90

10 Ecobank Transnational Incorporated

9.85

9.80

0.51%

180,743,079,467.75

0.68

14.56

0.31

6.29%

0.29

11 United Bank for Africa Plc

4.76

4.81

-1.04%

172,690,545,292.72

1.75

2.73

0.52

12.61%

0.40

12 Stanbic IBTC Holdings Plc

16.55

16.75

-1.19%

165,500,000,000.00

2.04

8.13

1.18

0.60%

1.41

13 Unilever Nigeria Plc

32.30

34.00

-5.00%

122,200,468,875.00

0.69

46.67

1.84

0.15%

13.03

14 FBN Holdings Plc

3.27

3.17

3.15%

117,377,607,429.84

0.21

15.76

0.22

4.59%

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 Guinness Nig Plc

62.03

61.10

1.52%

93,410,244,301.64

-3.06

-20.28

0.90

5.16%

2.37

17 Total Nigeria Plc

273.01

0.00%

92,692,856,719.37

38.02

7.18

0.34

5.13%

4.07

6.19

0.00%

74,280,000,000.00

1.03

6.03

0.52

8.08%

1.19

53.20

56.24

-5.41%

69,291,994,679.60

3.31

16.09

0.45

6.48%

1.60

106.50

0.00%

68,222,873,659.50

-0.05 -2,331.69

0.73

2.07%

3.07

4.84

4.74

2.11%

58,247,555,446.96

-3.15

-1.54

0.23

15.50%

0.37

22 International Breweries Plc

15.70

15.97

-1.69%

51,719,713,696.00

0.02

696.79

1.94

1.59%

4.71

23 Julius Berger Nig. Plc

38.39

0.00%

50,674,800,000.00

-2.95

-13.03

0.43

3.91%

2.67

24 Flour Mills Nig. Plc

17.98

0.00%

47,183,784,622.26

-1.19

-15.07

0.11

11.12%

0.47

25 Okomu Oil Palm Plc

44.18

0.00%

42,143,743,800.00

4.82

9.16

6.41

0.23%

2.61

26 Transnational Corporation Of Nigeria Plc

0.77

0.80

-3.75%

29,815,168,017.25

-0.47

-1.65

0.57

0.00%

0.40

27 FCMB Group Plc

1.30

1.28

1.56%

25,743,524,015.30

0.61

2.12

0.16

7.69%

0.14

13.30

13.64

-2.49%

25,547,496,347.10

3.37

3.94

0.34

7.52%

0.34

29 Fidelity Bank Plc

0.82

0.00%

23,749,320,267.44

0.39

2.12

0.16

19.51%

0.13

30 Sterling Bank Plc

0.75

0.74

1.35%

21,592,813,594.50

0.29

2.61

0.20

12.00%

0.26

29.60

0.00%

20,720,000,000.00

2.28

12.96

3.11

3.89%

12.11

32 Custodian And Allied Insurance Plc

3.40

3.24

4.94%

19,998,338,263.00

0.76

4.46

0.55

4.12%

0.70

33 Diamond Bank Plc

0.85

0.86

-1.16%

19,686,330,622.80

-0.29

-2.90

0.09

0.00%

0.09

34 National Salt Co. Nig. Plc

7.35

0.00%

19,473,372,078.30

0.85

8.65

1.04

7.48%

2.63

35 Wema Bank Plc

0.50

0.00%

19,287,233,040.50

0.06

8.39

0.38

0.00%

0.41

14.75

0.00%

17,639,178,198.00

-2.98

-4.94

0.63

2.03%

2.01

37 Cadbury Nigeria Plc

9.00

0.00%

16,903,818,360.00

0.50

18.02

0.60

14.44%

1.65

38 Mansard Insurance Plc

1.50

0.00%

15,750,000,000.00

0.28

5.38

0.79

3.33%

0.75

39 PZ Cussons Nigeria Plc

13.88

14.60

-4.93%

13,880,000,000.00

5.69

2.44

0.97

0.72%

0.37

40 Continental Reinsurance Plc

1.09

1.05

3.81%

11,306,291,300.08

0.42

2.60

0.51

11.01%

0.60

41 Unity Bank Plc

0.79

0.83

-4.82%

9,234,576,974.18

-0.10

-7.71

0.14

0.00%

0.11

42 Honeywell Flour Mill Plc

1.00

1.05

-4.76%

7,930,197,658.00

-0.40

-2.47

0.16

16.00%

0.24

43 Skye Bank Plc

0.50

0.00%

6,940,150,705.00

-2.93

-0.17

0.04

60.00%

0.07

44 Wapic Insurance Plc

0.50

0.00%

6,691,369,126.00

0.18

2.78

0.85

6.00%

0.41

45 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

46 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

47 AIICO Insurance Plc

0.60

0.00%

4,158,122,688.00

0.22

2.69

0.14

8.33%

0.41

48 Nigerian Aviation Handling Company Plc

2.45

0.00%

3,979,335,937.50

0.15

16.21

0.49

8.16%

0.66

49 UACN Property Development Co. Limited

1.99

0.00%

3,420,312,490.05

0.30

6.65

0.81

35.18%

0.10

50 Fidson Healthcare Plc

1.00

0.00%

1,500,000,000.00

0.24

4.25

0.23

5.00%

0.23

04 Nestle Nigeria Plc 05 Zenith Bank Plc 06 Seplat Petroleum Dev. Co. Ltd 07 Access Bank Plc

18 Dangote Sugar Refinery Plc 19 Forte Oil Plc. 20 7-Up Bottling Comp. Plc 21 Oando Plc

28 U A C N Plc

31 Cap Plc

36 Glaxo Smithkline Consumer Nig. Plc

TOTAL

8,148,568,001,972.78

TOTAL MARKET CAP

8,739,112,337,168.61

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

93.24%

Table 1 Market Statistics Mkt Indicators NSE All Share Index NSE Market Cap (N'Trillion) Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Open 20-Feb-17

Close 21-Feb-17

Change %

25,249.49 8.74

25,251.63 8.74

0.01 0.01

104.60 8.14

104.65 8.15

0.05 0.05

Table 3 Top 5 Gainers Stock

Open Close Change 20-Feb-17 21-Feb-17 %

Custodian And Allied Insurance Plc Nigerian Breweries Plc Continental Reinsurance Plc FBN Holdings Plc Access Bank Plc

3.24

3.40

4.94

119.81 1.05 3.17 6.71

125.00 1.09 3.27 6.88

4.33 3.81 3.15 2.53

Table 4 Top 5 Losers Stock

Open Close Change 20-Feb-17 21-Feb-17 %

Forte Oil Plc. Lafarge Africa Plc Unilever Nigeria Plc PZ Cussons Nigeria Plc Unity Bank Plc

56.24 42.00 34.00 14.60 0.83

53.20 39.90 32.30 13.88 0.79

-5.41 -5.00 -5.00 -4.93 -4.82

Market ends relatively flat as Index rise by a shy 0.01% Market pulse on the Nigerian Stock Exchange (NSE) today – Monday, February 21st, 2017 ended on a positive note as the stock market closed green. This was further highlighted by positive performance from the NSE Subsectors: Insurance and Consumer Goods (Save Banking and Oil & Gas). Furthermore, trading activities increased in volume as 131.16m shares worth of N2.75 billion in 2,740 deals exchanged hands today. This is an increase from the 110.02m shares worth of N985.67m in 2,160 deals which exchanged hands on Monday. Topping in volume terms are: Presco Plc, United Capital Plc and Transnational Corporation Of Nigeria Plc, while Presco Plc and Nigerian Breweries Plc ended trading as the most active stocks in value terms. Brent crude oil continues its bullish trend as it gains 1.51% over previous day figure of US$56.19 per barrel to US$57.04 per barrel. The All Share Index (NSEASI) closed relatively positive with 0.01% (+2.14) increase to close at 25,251.63 from 25,249.49 the previous trading day. Market capitalization appreciated in tandem to N8.74 trillion from N8.74 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with an increase of 0.05 to 104.65 from 104.60 recorded at the end of the previous trading day, while its market capitalization stood at N8.15 trillion from N8.14 trillion of the previous trading day. Market breath closed positive as 11 stocks gained on the bourse today while 22 stocks declined, leaving 62 stocks unchanged. Leading the pack was Custodian And Allied Insurance Plc with a gain of 4.94% to close at N3.40 per share. It was closely followed by Nigerian Breweries Plc with a gain of 4.33% to close at N125.00 per share. Others on the gainers’ list include: Continental Reinsurance Plc, FBN Holdings Plc and Access Bank Plc among others. On the decliners’ list, Forte Oil Plc led with a loss of 5.41% to close at N53.20 per share. It was closely followed by Dangote Flour Mills Plc with a loss of 5.12% to close at N3.89 per share. Others on the decliners’ list are: Lafarge Africa Plc, Unilever Nigeria Plc, PZ Cussons Nigeria Plc and Unity Bank Plc among others. Topping the Thisday BGL 50 Index gainers’ list is Custodian And Allied Insurance Plc as it emerged as the day’s toast of investors with a gain of 4.94% to close at N3.40 per share. It was followed by Nigerian Breweries Plc with a gain of 4.33% to close at N125.00 per share. Others on the gainers list include: Continental Reinsurance Plc, FBN Holdings Plc and Access Bank Plc; while on the decliners’ list, Forte Oil Plc again lead with a loss of 5.41% to close at N53.20 per share. It was followed by Lafarge Africa Plc with a loss of 5.00% to close at N39.90 per share. Others on the decliners list include: Unilever Nigeria Plc, PZ Cussons Nigeria Plc and Unity Bank 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 firm may have a conflict 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.

For more details go to www.thisdaylive.com

T H I S D AY • WEDNESDAY, FEBURARY 22, 2017

MARKET NEWS

Investors Increase Demand for NB Plc Shares over N20bn Dividend Goddy Egene and Nosa Alekhuogie The shares of Nigerian Breweries Plc rose further yesterday as investors increased demand in a bid to benefit from the final dividend of N2.58 per share recommended for the year ended December 31, 2016. Nigerian Breweries Plc thus closed as the second highest price gainer in percentage terms and the highest gain

in absolute terms. The stock gained N5.19 or 4.3 per cent to close at N125.00 per share. Market operators said some investors are impressed with the final dividend recommended by the company despite a decline in profit for the year.The directors have recommended a final dividend of N20.457 billion, which translate to N2.58 per share, bringing total dividend to N28.386 billion or N3.58 per share. Besides, the

T H E MAIN BOARD

DEALS

MARKET PRICE

directors of the company have also made a recommendation to the shareholders to receive new ordinary shares of in the company instead of the final dividend. The company recorded a revenue of N313.743 billion in 2016, up from N293.9 billion in 2015. Cost of sale rose from N149.73 billion to N178.218 billion. Marketing and distribution expenses also rose from N58.45 billion to N61.312 billion. While the company brought

N I G E R I A N QUANTITY TRADED

STO C K

VALUE TRADED ( N )

Daily Summary as of 22/02/2016 Printed 22/02/2016 14:36:10.010

Daily Summary (Bonds) No Debt Trading Activity 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. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE 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 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 SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. TIGER BRANDED CONSUMER GOODS 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. SKYE 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 CONSOLIDATED HALLMARK INSURANCE PLC LASACO ASSURANCE PLC. AXAMANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals FIDSON HEALTHCARE PLC

down administrative expenses, finance cost increased by 66 per cent from N8.217 billion to N13.645 billion. However, this increase was majorly driven by net foreign exchange loss of about N7.552 billion, compared to N752 million in 2015. Following the huge forex loss, Nigerian Breweries Plc ended the year with profit before tax of N39.675 billion, down from N54.514 billion in 2015 and PAT of N28.416

6 6 12

30.00 34.00

12,629 11,640 24,269

374,530.15 421,345.20 795,875.35

19 19 31

1.25

1,078,511 1,078,511 1,102,780

1,358,964.30 1,358,964.30 2,154,839.65

5 68 13 86 86

0.77 1.13 20.47

33,500 6,740,423 65,995 6,839,918 6,839,918

25,070.00 7,635,453.96 1,344,425.15 9,004,949.11 9,004,949.11

13 13

41.50

31,970 31,970

1,409,214.78 1,409,214.78

5 5 18

5.20

28,901 28,901 60,871

154,716.48 154,716.48 1,563,931.26

6 24 7 98 135

2.85 118.85 20.00 99.00

190,900 53,000 15,200 429,541 688,641

528,079.00 6,201,924.95 293,757.00 42,728,789.84 49,752,550.79

9 9

168.50

166,476 166,476

28,285,937.95 28,285,937.95

54 38 6 12 1 29 140

5.61 19.00 1.37 6.86 6.65 1.27

2,120,306 314,421 40,000 119,863 433 3,285,739,119 3,288,334,142

11,610,520.13 5,953,792.96 55,716.00 842,442.48 2,736.56 4,074,348,894.07 4,092,814,102.20

11 54 65

17.86 700.00

18,825 98,360 117,185

329,518.50 68,567,962.00 68,897,480.50

11 11

4.46

99,050 99,050

420,455.00 420,455.00

13 21 34 394

21.90 28.00

36,887 133,117 170,004 3,289,575,498

820,034.75 3,737,067.92 4,557,102.67 4,244,727,629.11

82 51 21 25 200 41 16 147 11 15 67 676

4.10 1.49 15.60 1.21 16.70 1.07 1.76 2.95 5.30 0.63 0.98

3,962,506 2,163,396 278,470 790,900 4,847,312 1,969,858 1,204,932 8,586,418 39,752 501,617 5,920,564 30,265,725

16,210,255.82 3,314,106.88 4,136,459.40 958,864.34 80,963,793.44 2,115,552.11 2,087,767.85 25,302,954.71 205,645.40 316,018.71 5,813,502.17 141,424,920.83

14 8 2 3 7 10 1 1 46

0.80 0.90 0.50 0.50 2.06 0.76 0.50 0.50

200,107 276,500 5,004,000 1,000,000 351,540 327,285 37,708,135 10 44,867,577

160,838.67 251,350.00 2,502,000.00 500,000.00 720,728.80 245,325.31 18,854,067.50 5.00 23,234,315.28

1 1

1.08

4,760 4,760

4,950.40 4,950.40

31 7 105 7 20 170 893

2.46 4.00 0.85 14.15 1.31

1,149,464 27,041 31,257,120 38,035 708,255 33,179,915 108,317,977

2,830,722.84 104,002.06 26,613,309.20 537,985.34 931,556.31 31,017,575.75 195,681,762.26

2.69

614,065

1,572,223.05

billion as against N38.05 billion in 2015. The Company Secretary/Legal Adviser of Nigerian Breweries Plc Mr. Uaboi Agbebaku, yesterday explained in a statement that the 100 per cent dividend payout is coming at a time the results of the company were impacted by high inflation and scarcity of foreign exchange in the macro-economic environment. According to Agbebaku, the company was able to end

the year with a positive result due to its twin agenda of cost leadership and market leadership supported by innovation. “Although the operating environment in 2017 is expected to be similar to 2016, the company remains confident that it is well positioned to adapt to the operating environment as required, and stay committed to delivering a good return on investment to shareholders,” Agbebaku said.

E XC H A N G E

MAIN BOARD GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals HEALTHCARE Totals ICT IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals INDUSTRIAL GOODS 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. 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 Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Courier/Freight/Delivery RED STAR EXPRESS PLC Courier/Freight/Delivery Totals Printing/Publishing LEARN AFRICA PLC Printing/Publishing Totals Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals SERVICES Totals EQTY Board Totals Daily Summary (Equities) Activity Summary on Board ASeM CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals CONSUMER GOODS 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

QUANTITY TRADED

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

551,998 16,020 597,000 1,779,083 1,779,083

13,903,164.18 15,299.40 412,110.00 15,902,796.63 15,902,796.63

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

110,727 40,229 26,700 142,300 299,900 14,373,223 14,993,079

2,707,053.97 362,501.29 992,680.00 1,227,076.00 966,480.00 1,157,057,077.16 1,163,312,868.42

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

1,165,135.50 1,165,135.50 1,164,682,243.92

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

81,125 100,300 20,300 16,295 13,699 231,719

1,505,034.50 182,832.00 6,595,470.00 2,396,080.60 1,959,692.96 12,639,110.06

33 33 189

318.00

389,934 389,934 4,473,488

124,037,602.56 124,037,602.56 149,977,475.67

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

10,001.84 1,001,583.80 1,011,585.64

1 1 43 1,811

1.68

10,000 10,000 923,993 3,428,226,216

16,000.00 16,000.00 1,694,242.54 5,785,390,675.15

2 2 2 2

1.21

270,464 270,464 270,464 270,464

327,261.44 327,261.44 327,261.44 327,261.44

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

10,438,552 10,438,552 24,368,231

39,515,087.18 39,515,087.18 199,120,526.41

35 35 35 619 2,432

139.83

38,770 38,770 38,770 24,407,001 3,452,903,681

5,304,666.00 5,304,666.00 5,304,666.00 204,425,192.41 5,990,143,129.00

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

3,000 20 20 20 15 3,075 3,075 3,075

6,986,000.00 46.70 120.20 221.80 270.65 6,986,659.35 6,986,659.35 6,986,659.35

Daily Summary (ETP) Exchange Traded Fund Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA BANKING ETF VETIVA CONSUMER GOODS ETF VETIVA GRIFFIN 30 ETF VETIVA INDUSTRIAL ETF Exchange Traded Fund Totals ETF Board Totals ETP Activity Totals

T H I S D AY • WEDNESDAY, FEBRUARY 22, 2017

MARKET NEWS

Plc Lists N9bn Bond on FMDQ OTC, Nigerian Stock Exchange FMDQ OTC Securities Exchange and the Nigerian Stock Exchange (NSE) yesterday listed the N9 billion Series 1 17.5 per cent Fixed Rate Unsecured Bond of Forte Oil Plc. The proceeds of the N9 billion of the bond will be deployed to refinance existing short term commercial bank loan obligations and to expand downstream retail outlet footprints amongst others. Speaking at the listing ceremony, Vice President & Divisional Head, Marketing &

Business Development at FMDQ, Ms. Tumi Sekoni, applauded the issuer for successfully raising N9 billion from the domestic market, and for joining the league of other top companies whose debt profiles have been raised via the value-packed listings and quotations service offered by FMDQ. The Group Managing Director Mr. Akin Akinfemiwa said “This bond programme, being the first in the downstream sector, is a testament to Forte

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

Oil’s leading position within the downstream sector.” In his remarks, Group Managing Director, Forte Oil Plc, Mr. Akin Akinfemiwa said the listing of the bond on FMDQ OTC Securities Exchange is another remarkable milestone for Forte Oil Plc and it demonstrates the immense potential of the Nigerian bond market as a source of alternative funding for Nigerian corporates. “ It also reaffirms our commitment to transparent and

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 20-Feb-2017, unless otherwise stated.

timely corporate disclosures and liquidity of our issued corporate instruments be it equity or debt. In addition, we strongly believe this listing will provide opportunity for price discovery for our investors,” he said. United Capital Limited served as the lead Financial Advisor/Issuing House to the transaction. In her comments, Group Chief Executive Officer of United Capital Plc, Mrs. Toyin Sanni said: “We are delighted to have played a leading role

in the successful execution of the Forte Oil N9billionbn Series 1 bond issue. Coming from a successful 2016, United Capital remains committed to making significant contributions to the success of our esteemed clients. This successful issuance represents one of the ways in which we support leading businesses through our expertise in capital raising. United Capital has played a pioneering role in developing Nigeria’s debt capital market having participated

in 70 per cent of debt capital transactions executed between 2015 and 2016. It is noteworthy that United Capital has invested up to N60.00bn in bonds issued by Nigerian State Governments and Corporate Issuers during this period. We will continue to support Nigerian governments and businesses with superior advisory, capital raising, trade execution, asset management and trust services. This is a true testament to our industry leadership and expertise.”

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 126.59 126.85 -0.42% Nigeria International Debt Fund 217.04 217.41 0.76% 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 -1.42% 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 17.79% 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 12.02 12.39 -2.62% ARM Discovery Fund 283.71 292.27 -1.21% ARM Ethical Fund 21.84 22.50 -2.25% ARM Money Market Fund 1.00 1.00 17.60% 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 106.03 106.77 0.90% AXA Mansard Money Market Fund 1.00 1.00 15.30% 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 2.24 0.45% Paramount Equity Fund 9.46 9.70 1.05% Women's Investment Fund 86.30 88.51 2.01% 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 17.36% 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 1,114.78 1,115.84 2.23% FBN Heritage Fund 109.03 109.75 -2.30% FBN Money Market Fund 100.00 100.00 16.68% FBN Nigeria Eurobond (USD) Fund - Institutional $105.82 $106.46 1.68% FBN Nigeria Eurobond (USD) Fund - Retail $105.54 $106.19 2.11% FBN Nigeria Smart Beta Equity Fund 111.45 113.01 -1.04% 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 2.03% 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 2,160.23 2,185.21 -2.22% Coral Income Fund 2,156.47 2,156.47 2.48% 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 17.33% 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 16.56% Vantage Balanced Fund 1.68 1.70 -0.10% Vantage Guaranteed Income Fund 1.00 1.00 15.43%

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 0.46% Lotus Halal Fixed Income Fund 1,016.68 1,016.68 1.38% 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 9.64 9.72 -0.24% 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 108.98 109.90 7.05% 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 1.44% 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 1,813.01 1,822.66 -1.01% Stanbic IBTC Bond Fund 153.05 153.05 -0.59% Stanbic IBTC Ethical Fund 0.75 0.76 -1.95% Stanbic IBTC Guaranteed Investment Fund 189.71 189.71 1.51% Stanbic IBTC Iman Fund 127.61 129.25 -1.71% Stanbic IBTC Money Market Fund 100.00 100.00 17.47% Stanbic IBTC Nigerian Equity Fund 7,210.80 7,297.31 -4.89% 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 1.12 1.13 7.50% United Capital Bond Fund 1.27 1.27 18.25% United Capital Equity Fund 0.64 0.66 -1.41% 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 9.60 9.77 -0.22% Zenith Ethical Fund 11.12 11.23 1.93% Zenith Income Fund 17.09 17.09 3.46%

REITS

NAV Per Share

Yield / T-Rtn

11.41 124.62

1.01% 0.52%

Bid Price

Offer Price

Yield / T-Rtn

7.82 70.22

7.92 71.54

-10.87% -7.33%

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

2.38 4.70 11.25 14.09 123.85

2.42 4.78 11.35 14.29 125.85

-13.21% -32.96% -6.15% -11.59% -4.61%

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.

WEDNESDAY FEBRUARY 22, 2017 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Trump Condemns ‘Horrible’ Anti-Semitism

US President Donald Trump has condemned dozens of violent threats made against US Jewish community centres in the past few weeks. “We have to fight bigotry, intolerance and hatred in all of its very ugly forms,” he said while visiting an African-American

museum in Washington. “The anti-Semitic threats targeting our Jewish community and community centres are horrible and painful”, he said. The FBI is investigating following more threats on Monday. “I will tell you that anti-

Semitism is horrible and it’s going to stop and it has to stop,” Mr Trump said in an interview with NBC earlier on Tuesday. Last week, 27 Jewish community centres in at least 17 US states reported receiving hoax bomb threats. On Monday 11 more were made across the

country. No bombs were found at any locations, and normal services resumed following building evacuations. Police in the state of Missouri have opened an investigation after more than 100 headstones were damaged at a Jewish

Azerbaijan Leader Names His Wife Israeli Soldier Gets 18 Months Jail for Killing Wounded Palestinian Attacker as Country’s FirstVice President Azerbaijan’s president on Tuesday appointed his wife as the first vice president of the ex-Soviet nation — the person next in line in the nation’s power hierarchy. Ilham Aliyev, 55 named his wife Mehriban, 52, to the position created after a constitutional referendum in September. Mehriban, who married her husband when she was 19, graduated from a medical university. She has served previously as a lawmaker and headed a charity. The constitutional amendments approved at the referendum introduced the positions of two vice presidents, one of them the first vice president. The first vice president takes over the presidency if the president is unable to perform his or her duties. It doesn’t describe the first vice president’s duties, but it’s expected that they will include overseeing the Cabinet. Aliyev’s critics say the September referendum that also

extended the presidential term from five to seven years effectively cemented a dynastic rule. In 2003, Aliyev succeeded his father, who had ruled Azerbaijan first as the Communist Party boss and then as a post-Soviet president for the greater part of three decades. Aliyev and his wife have two daughters and a son. Aliyev has firmly allied the energy-rich Shiite Muslim nation with the West, helping secure his country’s energy and security interests and offset Russia’s influence in the strategic Caspian Sea region. At the same time, his government has long faced criticism in the West for alleged human rights abuses and suppression of dissent. Azerbaijan’s leader has cast himself as a guarantor of stability, an image that has a wide appeal in the country where painful memories are still fresh of the turmoil that accompanied the 1991 breakup of the Soviet Union.

An Israeli soldier who killed a wounded Palestinian attacker in a high-profile case that split opinion across the country has been jailed for 18 months. Elor Azaria was found guilty of manslaughter for shooting dead 21-year-old Abdul Fatah al Sharif in Hebron, in the occupied West Bank, last March. Azaria had told a colleague that Sharif, who had stabbed another soldier, “deserved to die”. Military chiefs condemned his actions, but others praised them. The case fuelled debate in Israel over when and how soldiers are entitled to use lethal force against attackers. The shooting occurred amid a wave of attacks by Palestinians that had killed 29 Israelis over the preceding five months. The offence carries a sentence of up to 20 years, though prosecutors had called for Azaria to be jailed for between three and five years. Azaria, who was also ordered demoted from his rank of sergeant, sat smiling broadly, embraced by his mother, as the judgment was

read out, says our correspondent. The judge, Maya Heller, said his crime was mitigated by the fact that it was his first conviction, that it had occurred in an active military scene and that there had been no clear orders as to how he was supposed to act. Judge Heller noted that Azaria had not displayed any remorse for what he had done. A spokesman for the Palestinian Authority criticised the sentence as lenient, calling it a “green light to the occupation army to continue its crimes”, AFP news agency reported. Israeli Prime Minister Benjamin Netanyahu has previously said he would support any decision to pardon the soldier. The killing received widespread coverage after footage of the incident, filmed on a mobile phone, was shown on Israeli news programmes. It showed Azaria cocking his gun and firing at the head of Sharif, who was lying apparently incapacitated on the ground after being shot and wounded following the stabbing attack.

cemetery in St Louis, Missouri, on Monday evening. Governor Eric Greitens posted a statement on Facebook calling the vandalism “despicable” and “a cowardly act”. In the Canadian city of Toronto, Mayor John Tory has condemned anti-Semitic hate notes left outside the homes of Jewish residents. Mr Trump’s daughter Ivanka - who has converted to Judaism and whose husband is Jewish - also condemned the threats.

Since the beginning of the year, there have been reports of threats to centres in New York, New Jersey, Ohio, Florida, Massachusetts, Maryland, Michigan, Minnesota, Delaware, Connecticut, Alabama, California, Maine, Tennessee, South Carolina, Missouri, Wisconsin, Texas and Kansas. The JCC Association of North America, which has received many of the threats, has since been reviewing its security plans.

WEDNESDAY FEBRUARY 22, 2017 • T H I S D AY

NEWS

Nigeria Spent N1.1tn on Debt Service in Nine Months Revenue dropped by over 60% in Q3 2016 FG to entrench monitoring, evaluation in MDAs Tobi Soniyi in Abuja Between January and September 2016, the federal government spent N1.094.22trillion on debt servicing. Government figures seen in Abuja yesterday revealedthat N1.044trillion was used for local debt servicing as against the N980.55billion budgeted in the 2016 spending plan, representing N63.45 billion increase. N50.22billion was spent for

external debt servicing indicating some N9.36 billion increase from the N40.86 budgeted. Last year, the Debt Management Office (DMO) said government planned to spend 35 percent of its 3.86trillion forecast revenues on debt servicing, up from 26 percent in 2015. The government had also planned to borrow as much as $5 billion to finance a record budget deficit of N3 trillion.

FG, States, LGs Share N465bn as Allocation Increases Ndubuisi Francis in Abuja The three tiers of government got a total of N465.149 billion as January 2017 allocation from the Federation Account Allocation Committee (FAAC), a N65.149 billion increase over what they shared in December 2016. They had shared a total of N400 billion in the preceding month. Briefing journalists at the end of the FAAC meeting in Abuja yesterday, the Permanent Secretary, Ministry of Finance Alhaji Mahmoud Isa-Dutse, who stood in for the Finance Minister, Mrs. Kemi Adeosun said revenue recorded an increase despite the Force Majeure and shut-down of pipelines for repairs and maintenance occasioned by leakages and sabotage. Petroleum Profit Tax (PPT) recorded a significant increase while accruals from Company Income Tax (CIT), Value Added Tax (VAT), import duties and royalty slided marginally. A total of N273.452 billion was shared as statutory allocation for January. The federal government got N133.192 billion; states N67.557 billion; local governments, N52.083 billion and N20.620 was shared as 13 per cent derivation to oil mineral

producing states. The federal government also received N10.587 billion as Value Added Tax (VAT), states N35.291 billion and local governments N24.703 billion. The Excess Crude Account (ECA) currently has a balance of $2.458 billion. This is an e-mail from Leaders & Company Limited, publishers of THISDAY title newspapers and magazines and Arise Media UK Limited - the global style, culture and communications group. Its contents are confidential to the intended recipient. If you are not the intended recipient, be advised that you have received this e-mail in error and that any use, dissemination, forwarding, printing or copying of this e-mail is strictly prohibited and may not be disclosed to or used by anyone other than its intended recipient, nor may it be copied in any way. If received in error please email a reply to the sender, then delete it from your system. Although this e-mail has been scanned for viruses, Leaders & Company Limited and Arise Media UK Limited shall not accept any responsibility for viruses and it is your responsibility to scan any attachments.

76% of Students Passed NECO Exams, Ogun Leads With Highest Successful Candidates Laleye Dipo in Minna Ogun State, which registered 5,687 candidates for the November/ December external candidates Senior School Certificate examination conducted by the National Examinations Council (NECO), led other states of the federation and the Federal Capital Territory (FCT) in the results released by the examination body in Minna, Niger State yesterday. Ogun State candidates that sat for the examination recorded 91.13 per cent success with 4,492 or 78.98 per cent coming away with five credits and above, including English and Mathematics. The Registrar and Chief Executive Officer of NECO, Professor Charles Uwakw,e who announced the results yesterday, said of the 47,118 candidates that sat for the examination throughout the country, 35,744 representing 75.87 per cent were successful in five subjects and above “irrespective of English and Mathematics” Uwakwe said 28,530 or 60.55

per cent recorded credit and above in five subjects including English and Mathematics. The Registrar further disclosed that 7,699 cases of malpractices were recorded in the examination with English and Mathematics recording the highest cases of cheating. A further analysis of the results by Uwakwe showed that Oyo State candidates were second in the overall performance recording 87.67 per cent pass while Enugu state recorded 84.61 per cent pass to come third. The FCT came last by recording 33.47 per cent pass. The Registrar said NECO was not disturbed by another examination body’s plan to conduct two external examinations in a year saying: “It will make children to have an option.” He also attributed the improved performance of candidates to the fact that candidates in the internal examinations conducted between June and July have been returning better results.

Federal government domestic debt stock as at September 30, 2016, stood at N10,845.22trillion, according to the DMD. External debt stock which the DMO said was mostly low interest funds from multi lateral financial institutions stood at $11.583billion representing an increase of $320.70billion (or 2.85%) from external debt stock in the second quarter of 2016 and an increase of $965.24billion (or 9.09%) over the $10,618billion documented in the third quarter of 2015. “The increase in the external debt stock in the third quarter of 2016 was due largely to the rise in Non-Paris Club Bilateral Debts drawdown,” Minister of State for Budget and National Planning, Zainab Ahmed, said, quoting DMO data. Meanwhile, government revenues decline by over 60 percent on account of uncertainties in global oil prices worsened by crude oil theft, illegal bunkering and militancy in the oil rich Niger Delta region. Presenting the 2016 Budget Implementation and Performance Monitoring report for the third

quarter Ahmed said net oil receipt dropped by 66.6 percent to N2012.37billion in the third quarter of 2016 as against N603.53billon in same quarter last year. However, non oil revenue improved by 9.47 percent to N777.37billion from N709.96billion same quarter last year. The minister said in 2016 government largely borrowed from domestic sources to fund capital projects and must ensure it does not continue that way. Nigeria faces its worst economic crisis in decades after a slump in oil prices, which make up 70 percent of government income and 90 percent of foreign exchange earnings, hit public finances and the naira currency. Giving further breakdown on the implementation and performance of the 2016 budget in the third quarter, the minister said a net sum of N987.17 billion was available for distribution between the three tiers of government in the third quarter, with a 30 .96 percent shortfall of N442.73billion. No transfers were made to the Excess Crude Account (ECA) in the first two quarters of the year

following fall in global oil price and supply constraints, however N145.48billion was transferred to the account in the third quarter due to price recovery. According to her, a total of N85. 17 billion was withdrawn from the ECA for distribution amongst the three tiers of government within the quarter leaving a balance of $2.89billion balance as at September 20. The 2016 budget had a total appropriation of N6.06trillion with recurrent (Non Debt ) expenditure at N2.67trillion, debt serving at N1,5trillion, statutory transfers of N351.37 billion and capital expenditure of N1.587 trillion. The government spent N586.24billion on its non debt recurrent expenditure in the third quarter, with a decrease of N75.36billion below its third quarter estimate of N661.60 billion. A total of N87.84billion was released as statutory transfers in the third quarter of 2016. A breakdown of the actual transfers in the third quarter shows that N10.26billion was released to the Niger Delta Development Commission

(NDDC); N17.50billion was released to the National Judicial Council (NJC); N19.28 billion was released to the Universal Basic Education (UBEC); N11.25billion was released to the Independent National Electoral Commission (INEC); N28.75billion was released to the National Assembly; N0.50 billion was real eased to the Public Complaint Commission and N0.30billion was released to the Human Rights Commission. “It is worthy to note that quarterly releases under this subhead are made up of o demand by the beneficiaries subject to budgetary provisions and availability of funds” the minister said. On Capital releases, Ahmed said as at October 19, 2016, a total of N753.663 billion out of the appropriated N1.587trillion was released for priority projects and programmes identified as contributing to the Strategic Implementation of the budget. N318.35 billion was released and cash backed in the first quarter, N77.93 billion in the second quarter and 357.38 billion naira in the third quarter.

CONSULTATIVE VISIT

L-R: Secretary General Ohanaeze Ndigbo, Uche Okwukwu; Dr. John Nnia Nwodo; Rivers State Governor, Nyesom Ezenwo Wike; Deputy Governor, Dr. Ipalibo Harry Banigo, during the visit by officials of Ohanaeze Ndigbo to Government House, Port Harcourt...yesterday

NNPC Clarifies N23.4bn Oil Export Supervision Debt to FG Chineme Okafor in Abuja The Nigerian National Petroleum Corporation (NNPC) yesterday gave reasons why it was owing the federal government N23.4 billion in respect of fees chargeable on crude oil and gas exports since 2008, under the Nigerian Export Supervision Scheme (NESS). NNPC said it accumulated the sum because the National Assembly imposed budgetary appropriation constraints of N20 million on it for the NESS fees. NESS fees are payments due to pre-shipment inspection agents and monitoring and evaluation agents in respect of their supervision of crude oil and gas exports. It usually leads to the generation of a Clean Certificate of Inspections (CCI) to an exporter as permit to execute action and agreed on at the end of each reconciliation and

sign off by stakeholders. According to a statement from the Group General Manager, Public Affairs of NNPC, Ndu Ughamadu, in Abuja, the corporation’s Group Managing Director, Dr. Maikanti Baru, made this clarification at a public hearing of the Senate Joint Committees of Finance, Trade and Investment, Gas, Petroleum Upstream, Banking, Insurance and other Financial Institutions, Judiciary, Human Rights and Legal Matters, and Customs and Excise. Baru was reportedly represented by the Managing Director, NNPC Capital, Mr. Godwin Okonkwo, at the one-day investigative public hearing on the pre-shipment inspection of export activities in Nigeria at the National Assembly. He stated that the National Assembly had always budgeted N20 million for NESS fees for the corporation and that NNPC lacked

any legal right to remit any amount above the appropriated sum once it was exhausted. Baru also explained that NNPC was normally charged 0.15 per cent Free On Board (FOB) value of export as NESS fees for its execution of export of crude oil and gas on behalf of the federal government. The statement equally contained the remarks of the Senate President, Senator Bukola Saraki, who said while declaring open the public hearing that the Senate was committed to taking steps that would promote transparency and accountability of all public and private institutions that transact business with or on behalf of the federal government. Represented by the Senate Majority Leader, Senator Ahmed Lawan, Saraki noted that Nigeria was facing a lot of challenges and if the country was good for

business, then its laws must be obeyed. It also quoted the Joint Committee Chairman, Senator John Enoh, to have said the investigative public hearing was to instill probity and transparency in the process of crude oil and gas exports in order to reduce leakages. Enoh stated that Section 11 of the Pre-shipment Inspection of Export Act made provision for repatriation of proceeds after 90 days, however, most exporters of crude oil and gas contravened the provision. The federal government enacted the Pre-shipment Inspection of Export Act No. 10 of 1996 to ensure the exportation of quality goods through inspection of all export products, which gave rise to the Nigerian Export Supervision Scheme (NESS). Its responsibility was extended to cover crude oil and gas exports in 2008.

WEDNESDAY FEBRUARY 22, 2017 • T H I S D AY

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AMCON: Arumemi-Ikhide’s Businesses Owe Us N263.7bn Chinedu Eze The Asset Management Corporation of Nigeria (AMCON) has declared that the total debt owed the corporation by businesses where Joseph Arumemi-Ikhide is a major shareholder amounts to N263.7 billion. These debts include Arik Air - N146. 2 billion; Rockson Engineering - N107 billion; Ojemai Farms Limited - N8.6 billion; and Ojemai Investment Limited - N1.9 billion. The founder and Chairman of Arik Air had insisted that the total debt exposure the airline owed AMCON was N90 billion, admitting that the airline also owed Zenith Bank N35 billion, Access Bank N7 billion and Ecobank N12 billion, bringing the debts to N140 billion. But a statement from AMCON signed by its Head of Corporate Communications, Jude Nwauzor, the corporation insisted that Arik Air owed it N146.2 billion. Nwauzor said in line with AMCON’s statutory mandate, the non-performing loans of Arik were acquired in 2011 from two distressed banks, which include Union Bank Plc – N71billion and Keystone Bank Limited – N14billion (transaction originated by defunct Bank PHB, amounting to N85 billion. AMCON said the facilities were granted to Arik for the purchase of additional aircraft and to refinance existing term loans, but the default in repayment by Arumemi-Ikhide, the principal promoter of Arik Air posed systematic threat to the banks and indeed Nigerian economy. “As a matter of fact, apart from AMCON, Arik is also currently indebted to other commercial banks, including Standard Chartered, Zenith Bank, Ecobank and Access Bank to the tune of

about N165 billion. Arik owe the federal aviation agencies and regulators N26 billion $11 million is owed to European aviation agencies and service providers $20 million owed to Lufthansa Technique,” AMCON said. The corporation explained that in September 2011, AMCON in a bid to provide further support to Arik restructured Arik’s debt from N85 billion to N70 billion as a nine-year term loan running at 12 per cent per annum. According to AMCON, certain conditions were given to Arik Air for restructuring and these include that AMCON should appoint a resident monitoring Manager who shall have the authority to call for any of Arik’s records for examination and that Arik should provide three-year record of its remittances to the Federal Airports Authority of Nigeria (FAAN). “In all of these, Arik defaulted on the term of the restructuring and failed to make the monthly repayment as agreed. Again in May 2013 AMCON sourced N26 billion of the Central Bank of Nigeria (CBN)/Power Aviation Intervention Fund (PAIF) through the Bank of Industry (BOI) on behalf of Arik. AMCON disbursed N21.38 billion of the BOI loan to Arik as working capital. Out of this amount, N21.4 billion was meant for reconfiguration of two aircraft from passenger to cargo carriers. This was never done as the funds were diverted by Arik management and is now the subject of EFCC investigation. Both aircraft were abandoned in the UK,” the statement explained. The corporation said in December 2015, due to accrued interest and unpaid principal, a second restructuring was proposed for Arik debt to reduce the debt from N138 billion to N90 billion,

UNICEF Warns Nearly 1.4m Children at Risk as Famine Looms Kuni Tyessi in Abuja Almost 1.4 million children are at risk of death from severe acute malnutrition this year as famine looms in Nigeria. UNICEF Executive Director, Anthony Lake revealed this yesterday, adding that time is running out for Nigeria. The revelation was as a result of a recent survey carried out by the global organisation in the North-east. “In North-eastern Nigeria, the number of children with severe acute malnutrition is expected to reach 450,000 this year in the conflict-affected states of Adamawa, Borno and Yobe. Fews Net, the famine early warning system that monitors food insecurity, said late last year that famine likely occurred in some previously inaccessible areas of Borno State, and that it is likely ongoing, and will continue in other areas which remain beyond humanitarian reach.” While disclosing that this year alone, UNICEF is working with partners to provide therapeutic treatment to 220,000 severely malnourished children in Nigeria, Lake said: “We can still save many

lives. The severe malnutrition and looming famine are largely manmade. Our common humanity demands faster action. We must not repeat the tragedy of the 2011 famine in the Horn of Africa.” Similarly, at least 65,000 children have been released from armed forces and armed groups in the past 10 years, said UNICEF as leaders from around the world gather in Paris on the anniversary of the Paris Commitments to end the use of children in conflicts. The exact data on the number of children used and recruited in armed conflicts are difficult to confirm because of the unlawful nature of child recruitment. However, UNICEF estimates that tens of thousands of boys and girls under the age of 18 are used in conflicts worldwide. Ten years ago, the world made a commitment to the children of war and matched it with action – action that has helped give 65,000 children a new chance for a better life. Lake added that in Nigeria and neighbouring countries, data verified by the United Nations and its partners indicate that nearly 2,000 children were recruited by Boko Haram in 2016 alone.

but this restructuring was still waiting CBN approval. “This was proposed based on Arik’s plan to do a private placement and subsequently do an IPO within a period of six months. Based on that, they were expecting N44 billion from Afrexim as a bridge. None of this happened, as Arik could not comply with any conditions given for a peaceful resolution. ”In spite of the leniency and good will and good faith demonstrated by AMCON to support an indigenous strategic business; Arik throughout the negotiations, refused or neglected to adhere to the terms of amicable settlement. However, AMCON continued to bear the burden of repaying the BOI loan at one percent interest rate without any corresponding commitment from Arik. So far, AMCON has paid

N9.05 billion on behalf of Arik,” AMCON said in a statement. It alleged that Arik vehemently refused to cooperate with the AMCON resident Monitoring Manager and also refused to disclose financial information to AMCON, adding, “all our investments in Arik, AMCON total recoveries from Arik till date is N4.6 billion, which is only 3.2 per cent of current exposure . Total repayment by Arik in the last 12 months is N50 million,” AMCON alleged. AMCON said it also acquired three other non-performing loans of companies in which the principal promoter of Arik Air, Arumemi-Ikhide has interest and these include Rockson Engineering - N107billion; Ojemai Farms Limited N8.6billion; Ojemai Investment

Limited - N1.9billion “This made the total exposure of Johnson Arumemi-Ikhide to AMCON stand at a whooping N263.7 billion. With no credible plan or effort to repay, the Federal Government mandated AMCON to take over Arik Air after meeting all legal procedures to that effect.” However, Arumei-Ikhide had earlier told THISDAY that the actual debt Arik owed the Corporation was N90 billion and according to him, AMCON management had acknowledged that N90 billion was the debt the airline owed the government agency and wondered where it got the extra N56 billion it added to the earlier debt, which both parties agreed on and endorsed. Other debts he mentioned include debt owed Lufthansa Technic, a maintenance company

that provides technical support to the airline, which is about $9.8 million, and the one owed Eurocontrol, which the he said was less than one million Euros. The Arik Air chairman has insisted that the airline had been paying debts owed aviation agencies and noted that when there was a disagreement over the total amount owed FAAN, the agency took Arik to court, in a case that is still subsisting. Arumemi-Ikhide had also said the crash of the naira in value made it extremely difficult to generate enough revenues in the local currency to offset overseas debts in dollars. But AMCON said efforts are being made to stabilise the airline and expressed the hope that the indigenous carrier, which has the largest fleet in West Africa, would be revitalised.

BOOK PRESENTATION

L_ R: Chief of Staff to Ogun State Governor, Chief Tolu Odebiyi; Secretary to the State Government, Taiwo Adeoluwa, Author and Special Assistant to the Governor, Mr. Soyombo Opeyemi; Wife of the Governor, Mrs Olufunso Amosun; Chairman of the occasion, Justice Demola Bakre (rtd); and Elder statesman, Chief Doja Adewolu, during the public presentation of the book, Buhari vs Yar’Adua: Facing The Future in Abeokuta... yesterday

Shell’s New LNG Forecast Rekindles Confidence in Brass LNG’s Future Chineme Okafor in Abuja A new forecast on the global liquefied natural gas (LNG) market by Royal Dutch Shell has disclosed that demand for LNG would continue to grow at an average of five per cent annually until 2030, thus rekindling confidence that Nigeria’s $15 billion Brass Liquefied Natural Gas (LNG) project could still be profitable if executed. The forecast was released by Shell, and obtained by THISDAY yesterday in Abuja. It said the projected five per cent annual growth rate for the LNG market would be driven by the increasing number of buyers recorded since 2015 and from which China and India were the fastest growing buyers. Global LNG demand, it noted, reached 265 million tonnes (MT) in 2016 while the number of buyers grew to 35 from 10 that it was at the start of the century. It listed Colombia, Egypt, Jamaica, Jordan, Pakistan and

Poland as the six new countries that have joined the growing number of LNG importers. Recently, THISDAY reported that shareholders of the Brass LNG project met in London between January 10 and 12, 2017 to take a decision on the multi-billion dollar project whose Final Investment Decision (FID) has been suspended for a long time now. Shareholders in the Brass LNG project - the Nigerian National Petroleum Corporation (NNPC), Total and ENI, have invested funds in its early works but continuing on it has remained uncertain despite their assurances that it would eventually take off because according to them, it remained viable. However, Shell said in the forecast that there would be LNG demand growths to be closed after 2020. It stated: “The LNG industry will need to make large investments to supply demand growth after 2020.” It also explained the forecast was the first of its kind for it in

assessment of the global LNG market, adding: “Global demand for gas is expected to increase by two per cent a year between 2015 and 2030. LNG is set to rise at twice that rate at four to five per cent. “Over the next two decades, as more countries have existing infrastructure with an import terminal or FSRU (floating storage regasification units), LNG will increasingly be used when there are shortages in domestic energy supply,” it stated. The forecast further said the bulk of growth in LNG exports in 2016 came from Australia where exports increased by 15MT to a total of 44.3MT, while most new LNG demand growth will from 2020 to 2030 be driven by policy, FSRUs, replacing declining domestic gas production, small scale LNG and transport. According to it, LNG prices are expected to continue to be determined by factors including oil prices, global LNG supply and demand dynamics, as well as the cost of new LNG facilities, just as

the profile of LNG trade would change to meet the evolving needs of buyers, including shorter-term and lower-volume contracts. “LNG use beyond the power sector is expected to continue to increase. In China, in 2015 its use as a fuel for transport was around 4MT. In 2016, there were more than 200,000 LNG-powered vehicles in the country. Over the next decade, LNG use in the heavy duty and marine transport sector is expected to grow in the Middle East, Europe, Southeast Asia and the USA,” the forecast added. Similarly, Shell’s Director of Integrated Gas and New Energies, Maarten Wetselaar, said on the forecast that: “Global LNG trade demonstrated its flexibility time and again in 2016, responding to shortfalls in national and regional gas supply and to new emerging demand. “The outlook for LNG demand is set to grow at twice the rate of gas demand, at four to five per cent a year between 2015 and 2030.”

WEDNESDAY FEBRUARY 22, 2017 • T H I S D AY

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FG Threatens Telecom Firms, Asks Them to Get Listed on Stock Exchange Fashola: FG targeting 30% electricity generation from renewable energy mix by 2030 Dozie: MTN Foundation has spent over N16bn as CSR

Dele Ogbodo and Chineme Okafor in Abuja The Minister of Communications, Mr. Adebayo Shittu, has appealed to telecommunications companies operating in the country to get listed on the Nigeria Stock Exchange (NSE), even as he said the government is set to wield its big stick on defaulters. He said the directive has become compelling so that Nigerians across the different strata can also be part of the success stories of the telecoms revolution by becoming part owners of the companies. The minister spoke at the MTN and Lumos partnership for generation of solar energy for Nigerians last Monday night in Abuja. He identified the lack of electricity supply as the greatest challenge to doing business and governance in the country. Shittu said: “I appeal to telecoms companies that before government wields the big stick, they must get their companies listed on the NSE so that Nigerians can also be part of the ownership of these companies. “I’m sure that none of these companies want to rush out of Nigeria in a hurry because Nigeria is such a big market for every operator.

“To whom much is given, much is expected. I want to appeal that you do the utmost to ensure that you get on to the NSE and ensure that the citizens can be part of this revolution and can be part of the ultimate gratitude that Nigerians have been bringing to you.” The minister admitted that he and many Nigerians are not happy over the low quality of service from the sector, stressing that the ordinary citizens of Nigeria are not happy that services are far below expectations and they are not ready to listen to any excuses. He said Nigeria is probably the only country that would invite investors into the telecommunications industry to come with their expertise and capital and yet expect them to generate the energy they need to power their networks. In his remarks, the Minister of Power, Works and Housing, Mr. Babatunde Fashola (SAN), said government was working on incremental additions of the different renewable energy mix to add 30 per cent electricity to the national grid by 2030. Fashola said: “I want us to study what is going on around us and take time to study those that we want to be like have not dispensed

CDS Wants Lake Chad Multinational Force to Step up Operations against Boko Haram Abubakar: We’ll block sects’ logistics supply Paul Obi in Abuja The Chief of Defence Staff, Gen. Abayomi Olonisakin, yesterday urged the Lake Chad Basin Multinational Joint Task Force (MNJTF) to step up its operations against Boko Haram resurgence, and defeat remnants of the Boko Haram sects still staging attacks in the North-east. Olonisakin stated this in Abuja during the opening of a three-day meeting of experts of the Lake Chad Basin Commission member states and Republic Benin. He explained that though the activities of Boko Haram sect had been on the decline, the resurgence of attacks in recent times remained a great source of concern. Olonisakin contended that the dismantling of the terrorists’ stronghold has prompted a “dispersal and resultant sporadic attacks in the MNJTF Area of Responsibility (AOR).” He observed that there was a strategy by the sect “to survive and possibly regroup. Thus, the need to step up the tempo of operation in the MNJTF AOR. “I am happy to note the successes achieved by MNJTF in Operation Gama Aiki I and to express confidence that Operation Gama Aiki II, which has just commenced, will achieve even greater successes by dealing a decisive blow on Boko Haram terrorists in our collective area of responsibility.

“It is obvious that the range of threats confronting the region is so multifaceted that the solutions to them require a multi-dimensional approach by various member states,’’ Olonisakin stated. The CDS added that there was an urgent need to deploy strong force to tame the resurgence of the terrorists, adding: “Accordingly, a combination of hard and soft power approaches are required if the fight against terror and other criminality is to be won. “Therefore it is my firm belief that when all efforts are combined in a holistic manner, we will be able to defeat terrorism and restore peace and order in the Lake Chad Basin region.” Commander of the MNJTF, Maj Gen. Lamidi Adeosun, informed journalists that though the terrorists had been routed from some of their territories, “they had not been completely destroyed. They still move about in splinter and wreck some havoc,’’ Adeosun said. He stressed: “There is need for new strategies to ensure that we really get over them by removing the remaining vestiges of their capabilities in whatever form.” The three-day event seeks to address critical security threats in member states under the umbrella of the Multi-national Joint Task Force (MNJTF). The MNJTF was set up in 1998 for the conduct of joint military operations within the Lake Chad Region.

with coal, gas and hydro. “We are ramping up slowly on the renewables like, who solar, wind and biomass. But the total aggregation of all the renewables does not exceed 30 per cent and the reason for this is simple, each form of energy has its own limitation.” The minister while welcoming the collaboration between MTN and Lumos on the solar power generation, said power generation in the country has not been done on sustainable basis. “I therefore welcome this partnership between MTN and Lumos. I say that because in the cause of my tour of duty it was

evident to everybody who really cares to look back for the size of Nigeria’s population and certainly we don’t have enough power in sustainable form. “Therefore, the quickest thing to do was for us to get incremental power as quickly as possible and in a sustainable basis. “So what we need to have is what we have developed an energy mix for the country, that seeks to achieve 30 percent renewable in the near 2030. This form of partnership like that of MTN and Lumos takes us closer to that goal.” he said. Also speaking, the Chairman of MTN, Mr. Pascal Dozie, said

MTN as a corporate entity is willing to support cause that will help to advance the country. He admitted that the fusion of innovative communication technology and energy is good news for the growth of the economy. According to him, “MTN loves Nigeria and wants to contribute to the welfare of the country. Don’t judge us harshly where we are sleeping, because MTN Foundation has spent over N16 billion on Corporate Social Responsibility (CSR) in the last few years.” Also corroborating Fashola’s view, the Minister of Communications, Mr. Adebayo

Shittu, said the telecommunication outfits must allow their shares to be open for public subscription at the NSE. Shittu explained that the government will eventually take punitive actions against firms that fail on this. He added that the firms must be willing to give Nigerian investors the opportunity to be part of their businesses and the eventual outcomes from them in terms of profits and losses. “My final appeal is to the telecommunication companies, that before the Nigerian

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STRATEGIC SECURITY LECTURE

L-R: Minister of Power, Works and Housing, Mr. Babatunde Fashola; Sultan of Sokoto, Sa’ad Abubakar III; and Commandant, National Defence College, Rear Admiral Samuel Ilesanmi Alade, shortly after the opening session of the seventh edition of the National Security Seminar 2017 organised by the alumni association of the college in Abuja...yesterday

Again, PCNI Budgets N60m to Fell Trees House c’ttee rejects budget for opacity, duplication Damilola Oyedele in Abuja While the scandal caused by the over N200million grass-cutting contract awarded by the Office to the Secretary to Government of the Federation (SGF) is yet to die down, the Presidential Committee on the North-east Initiative (PCNI) has again budgeted the sum of N60 million to cut trees and shrubs in the troubled region. In its N45 billion proposal for 2017, the Initiative, domiciled in the office of the SGF, Mr. Babachir David Lawal, proposed N60 million for the ‘clearing of trees and shrubs on Maiduguri-Damboa road, Maiduguri- Bama-Gwoza-Mubi road, Uba-Lassa road” under the Security, Stabilisation and Peace Building sector of its budget. Specific kilometres to be covered for the clearing of trees and shrubs, was however not included in the budget proposal. These details are contained in the budget proposal presented yesterday, to the House of Representative Committee on Internally Displaced Persons and Refugees, by the Vice-Chairman of the PCNI, Mr. Tijjani Tumsah. The development, and vagueness of several items listed on the budget

proposal led the Hon. Sani Zorroled Committee, to reject the budget of the initiative. Under same security component, the Initiative proposed the sum of N2.5 billion for “Rapid Renovations and Reconstruction of Security outfits, standardised camps, and other productive works” while a separate proposal of N600 million was made for “standardisation of camps and upgrade” under the Relocation of IDPs/Refugees and Standardisation of Camps component of the 2017 proposal. The breakdown of the Initiative’s N45 billion budget proposal for five sectors include N21.2 billion for Humanitarian Assistance, Rehabilitation and Resettlement N10.374 billion for Security, Stabilization and Peace Building, N6.585 billion for Economic Development , N4.797 billion for Education and Social Development, and N2 billion asAdministrative costs. While Administrative Costs was listed as a sector with N2 billion proposal, the breakdown of each of the five sectors again contained separate costs for administrative activities. Also under Administrative Cost sector, the sum of N100 million was proposed for “Strategic

Communications, Media and Publicity” while another N40 million was proposed for “Media and Publicity.” All other sectors had N40 million proposed for ‘Media and Publicity.” Members of the Committee expressed disappointment that ‘a contract to cut grass’ has again resurfaced in the budget of the initiative despite the scandal. Zorro, addressing the officials of the initiative said: “You can’t travel this same way again, it is not acceptable. Why can’t you assign this duty to the military to do it for you? They can use their personnel to clear the grasses and you can drop this idea of awarding contracts with N60 million.” Zorro also queried why a huge chunk of the budget is concentrated in security, when the Initiative is not funding the military. “You are going to deliver security equipment for N200 million. What type of security equipment? Then another N2.5 billion for security outfits. Are you telling us that part of your role is to fund the operations of the military in the North-east? The military have their own budget already,” the chairman said. “You have N184 million

for screening programme for humanitarian activities. What does that mean? There is N150 million on advocacy and early warning system and N165 million for conflict management,” he further said. Hon.Adamu Kamale (Adamawa APC) said while N45 billion is inadequate to rehabilitate the IDPs, it is disturbing that about N8.4 billion alone was proposed for military operations. “PCNI is not a military agency. This N8.4 billion should be converted to rehabilitation of burnt houses and schools. I am an IDP, so I know where it pains. N5 billion out of the money can rehabilitate up to 50 per cent of the houses,” he said He added that there was duplicity of items in the budget and “our people back home will not forgive us if we pass this budget like this.” Hon. Istifanus Gyang (Plateau PDP) noted that the overall commitment of the government to the cause of the IDPs and rehabilitation of the region, is over N800 billion, which is domiciled in various Ministries, Departments and Agencies (MDAs). “So, your role as PCNI is recovery. You come in after the military have completed their own role and they have their budget,” he said.

WEDNESDAY FEBRUARY 22, 2017 • T H I S D AY

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Ease of Doing Business: Presidency Mandates N’Assembly to Pass Crucial Laws within 60 Days Tobi Soniyi in Abuja The Presidency and the National Assembly yesterday in Abuja agreed to pass into law all executive bills seeking to remove all encumbrances which make doing business in Nigeria a nightmare. The bills, which included the Credit Bureau Bills and the Collateral Transactions Security are to be passed within 60 days. The agreement was reached after an expanded meeting of the Presidential Enabling Business Environment Council chaired by the Acting President, Yemi Osinbajo, at the Presidential Villa, Abuja which had the Senate President, Bukola Sakari and the Speaker of the House of Representatives, Yakubu Dogara in attendance. Others in attendance were the Attorney General of Federation and Minister of Justice; Minister of Information, Lai Mohammed, Minister of Power, Works and Housing, Babatunde Fashola, Minister of Trade and Investments, Mr. Okechukwu Enelamah former Prime Minister of Georgia, among other relevant stakeholders Osinbajo, who briefed State House Correspondents after the meeting said the leadership of the National Assembly was co opted into the meeting to get the support of law makers to pass the bills which are already pending before the National Assembly into law. He explained why the Senate President, Bukola Saraki, and Speaker of the House of Representatives, Yakubu Dogara, attended the meeting. Osinbajo said: “This is an expanded meeting of presidential enabling business environment council and we have had the pleasure and privilege of having the Senate President and the Speaker of the House of Representatives. The whole idea of course being to work together on trying to improve business environment in Nigeria.” He said the meeting considered three broad areas that would help to improve ease of doing business. There he said are: entry and exit of goods, entry and exit of persons into Nigeria and the whole

general government transparency and efficiency in government agencies and parastatals. According to him, the whole idea is to provide an enabling environment for those who want to do business (both local and foreign) in Nigeria. He noted that a lot of work had already been done, adding that there are pieces of legislation that “we are also looking forward to seeing and we have been working with the National Assembly to ensure that these pieces of legislation were passed.” The acting president also said there would be Improvements at seaports, airports and issuance of visas to immigrants. “We have set time lines for ourselves to ensure that we are not just speaking about these things without necessarily tying ourselves down to specific time lines. So, we are looking forward to an improved business environment in the shortest possible time.” Also speaking on behalf of the National Assembly, Saraki said their presence at the meeting was to ensure there was the synergy between the legislature and the executive for the realisation of the set objectives in the Nigerian business climate. He said: “Seeing myself and the Speaker here as part of the expanded meeting of the Business Environment Council is to stress the importance of the meeting. It is a very good initiative. Some of the issues about addressing business environment are policy issues but there are some that need legislation and we have been talking about what is our own responsibility there. “We have taken away today some of the bills that we need to address particularly looking at access to credit, credit bureau, transactions, a lot of SMEs that don’t have fixed assets, we need to see how it can be addressed so that they can have access to credit.” Saraki said that meeting and working together with the executive wiould make it much easier to work on the laws The meeting, he said, also sent a strong message to investors. “We have given ourselves

Akpabio: PDP will Reclaim Andy Uba’s Seat in Senate The Senate Minority Leader, Chief Godswill Akpabio, has said the Peoples Democratic Party (PDP) will challenge Senator Andy Uba’s (PDP-Anambra) defection to All Progressives Congress (APC) in court. Akpabio made this known at the plenary yesterday under Order 45 of the Senate Standing Order and said that the PDP wound reclaim Uba’s committee appointment in the Senate from him. He said: “That position belongs to the PDP; we have a notice of our intention to go to court to reclaim that seat. It is to let you know that the party is not in dispute.’’ He, therefore, called on the Senate to declare Uba’s position as Chairman, Committee on Public Accounts, vacant in view of the defection. Akpabio said the upper chamber should, at the next plenary, announce a new chairman for the committee. Uba had at plenary, announced

his defection to APC and pledged commitment to his new party’s resolve and determination to reposition the economy. “This decision was arrived at after due consultation and engagement with my family, constituency and legal team. “As a senator of the Federal Republic of Nigeria, I also sought relief from the same Constitution. “I rely on Section 681 (g), which has also been tested in the Supreme Court. “By this communication, I declare that I am now a cardcarrying member of the APC. “I am committed to working with you and your party on how to unite, build our policies and take the vision of our party to our great country,” he said. The lawmaker’s defection has increased the number of APC senators in the Red Chamber to 65 and reduced PDP to 42, while Labour Party has one member.

timelines. We have been given 60 days for some specific bills to be passed and we hope and promise that we will do that on our own part. It is a good initiative and it will go along way to improve business environment,” he added. Fielding questions from journalists afterwards, Saraki dismissed the insinuation that the 60 days time line undermined the independence of the legislature. He said: “No, no, no. Whether executive or legislature, we are all working for one government and

for our people. You see, they are already doing things that we are already doing but this is to ensure there is no duplication. We are all setting for ourselves deadlines some of them have already been passed by the Senate and the House has passed but there are some they are interested in which we also have. We are not fighting here,” he said. Reminded that one of the problems with enabling environment was unstable power supply, the Senate President said that they were working on that.

“The issue of power supply goes beyond enabling law. There are a lot of factors that go into that. You know we held a summit which was initiated by National Assembly with all stakeholders in the power sector, looking at distribution, generation. “The problems are enormous, we have talked about that and we are waiting for the technical report to come, and then there will be a meeting with the minister and then we will begin to address that and then we will begin to see result.

“We did mention at that summit that we were at a crisis and we need to come out with some things. Things were done wrongly in the past but we cannot continue to cry over that we need to come up with some solutions and we will come up with those solutions,” Saraki stressed. Meanwhile, giving highlights of the outcomes of the meeting earlier, the Deputy Chief of Staff to the Vice President, Prof. Ade Ipaye, said the former Prime Minister of Georgia participated in the meeting.

BUILDING LEGISLATIVE HARMONY

L-R:,Chairman,SenateCommitteeonAgriculture,SenatorAbdulahiAdamu;Chairman,SenateCommitteeonNationalSecurityandInteligence,Senator Shaba Lafiagi ; and Chairman, Senate Committee on Foreign and Local Debt, Senator Shehu Sani , leaving the venue of the meeting of Senate leadership andcommitteechairmenattheNationalAssemblyinAbuja...yesterday JuliusAtoi

Shema,Three Others Arraigned, Granted N4bn Bail Ibrahim Shuaibu in Katsina The Katsina State High Court presided over by Justice Maikaita Bako yesterday granted bail to a former Governor of the state, Ibrahim Shema and three others who were facing trial over a 22-count charge of financial misappropriation amounting to N11 billion, while in office. Shema, a former Commissioner for Local Government and Chieftaincy Affairs, Sani Hamisu Makama, former Permanent Secretary in the Ministry, Lawal Rufa’I Safana and former Chairman of the state chapter of Association of Local Government of Nigeria (ALGON) were alleged to have embezzled over N11 billion of state fund while in office. They were however, granted N1billion bail each, totalling N4 billion, and a surety each. When the charges were read to the accused persons, they pleaded not guilty to all the 22-count charge,

bordering on alleged diversion of public fund for personal use and forgery of government documents with the intention of stealing public funds. The Economic and Financial Crimes Commission (EFCC) counsel, Samuel Jubril Okutepa (SAN), submitted that the accused persons be remanded in prison custody, owing to the huge amount of money allegedly embezzled by them. But the counsel to the defendants, Joseph Dauda (SAN), made an oral-application for bail, the EFCC counsel argued against the bail application, insisting that even though the judge would grant them bail, it should be on formal application attached with affidavit. According to him, count one to eight under which they were charged, carry a punishment of seven years imprisonment, just as count nine to 22 of the charges carry a punishment of 14 years imprisonment.

Okutepa further cited section 341 (2) of CPC, laws of Katsina State, saying that the offences allegedly committed by the defendants, “are not ordinarily bailable. They can only be considered upon formal application, not by oral application.” Also arguing against the submission of Dauda that the first defendant (Shema) who was one-time Attorney-General of the state and two-time governor of the state should be granted bail on self-recognition, Okutepa maintained that in law, there is no sentiment. “The status quo has changed. They are now accused persons and the law is not a respecter of persons. If the court grants them bail, the proposition will be a dangerous precedent if allowed, because any rich man that committed an offense will walk freely on the street, while the poor will continue to languish in prison.

“Sentiment should not be considered in the court, what should be considered is verifiable materials in affidavit evidence. This is a competent charge by a competent court and the charges are with consequences because the amount involved is very huge. “The criminal justice system should not be starved. The accused persons should tell us that they will not run away if granted bail; and they should do that through affidavit.” In his ruling, Justice Maikaita Bako, granted the accused persons bail on stringent condition of N1 billion with for sureties and adjourned the case to 28 March for further hearing. However, the accused persons within a space of one hour met the bail conditions as they walked out of the court premises freely. In a short remarks to journalists, Shema described the judgment as the will of God, saying, “I thank God for the judgment.”

FG THREATENS TELECOM FIRMS, ASKS THEM TO GET LISTED ON STOCK EXCHANGE government wields the big stick, it is imperative that at this stage of our development, they must get their companies listed on the stock exchange so that Nigerian citizens can also be part of the ownership of these companies,” said Shittu in his remarks. He further stated: “I am sure none of the telecom company wants to rush out of Nigeria in a hurry because Nigeria is such

a big market. To whom much is given, much is also expected and I want to appeal to you that you do the needful to ensure that you get on to the Nigerian Stock Exchange so that Nigerian citizens can be part of this revolution and the ultimate gratification that Nigeria will bring to you.” The minister equally called on telecommunication companies to improve on their services to

consumers, stating that instances of drop calls, unsolicited messages, and poor services are being recorded across board. Meanwhile, MTN and Lumos said that through their partnership, they would target to reach one million Nigerian homes over the next three years with the SHS to enable them generate and use solar electricity in their homes and small businesses which they can pay for using their

mobile phones. According to them, the mobileenabled SHS would offer off grid electricity customers in Nigeria access to energy as a service, and it will come with a large 80W solar panel unit and solar cable, solar control unit with eight sockets DC 12V, USB mobile phone adapter, two powerful light emitting diode (LED) bulbs, and easy self-installation mounting kit.

WEDNESDAY FEBRUARY 22, 2017 • T H I S D AY

NEWSEXTRA

Jonathan Denies Endorsing Sheriff We’re not responsible for PDP crises, says APC Onyebuchi Ezigbo in Abuja Former President, Dr. Goodluck Jonathan, has denied claims by a section of the media that he endorsed Senator Ali Modu Sheriff as the National Chairman of the Peoples Democratic Party (PDP) during his visit to him on last Monday. In a statement issued by his media aide, Mr. Ikechukwu Eze, Jonathan described the claim as false. He clarified in a statement that the issue of endorsement never came up in the course of the visit, “not at the closed door meeting with Sheriff, or during the former president’s interview with journalists.” Eze who wondered: “Why few journalists some of whom were not even at the venue, chose to infuse mischief in their report,” also noted that Jonathan as a former president and foremost leader of the party, welcomed Sheriff and some of his supporters to his house, in line with a mediation role he is playing towards unifying and strengthening the PDP.

He further stated that Jonathan opened his doors to Sheriff upon his request, just as he had earlier done to the Makarfi-led caretaker committee members, adding that the former president is prepared to broker more talks until the issues in the leadership of the PDP were finally resolved. He said: “In deed, it may interest you to know that after meeting with Sheriff, the former president also met with Senator Ahmed Makarfi, leader of the PDP Caretaker Committee, and the party’s Board of Trustees (BoT) Chairman, Senator Walid Jubril, later in the evening.” Eze emphasised that “as a peace-loving leader of the party, Jonathan’s interest is to help reposition PDP to enable it play a constructive role in the affairs of the nation, in view of the imperative of deepening the nation’s democracy.” Eze said further: “I wish to let those spinning this falsehood know that it just doesn’t add up to fly a contrived banner of endorsement in one breath, and in another, concede that the former president

Buhari: IPC Frowns at Denial of Access to Information to Journalist in London The International Press Centre (IPC) has described as unwarranted and unhealthy for democracy, the denial of access to information and the call on the London Police to arrest The Guardian reporter who was making enquiries on President Muhammadu Buhari “With visits by top government officials and leading politicians to the president at the London Abuja House, his stay

explained his commitment in meeting with different interest groups, towards resolving the differences in the party. “For the avoidance of doubt, the following are the former president’s exact words during the interview with journalists, as had accurately been reported by most online and major national newspapers, as well as broadcast organisations: ‘We (PDP) are not factionalised. We are one. We are solving our problems. There are bound to be differences in politics. It is the way we resolve these differences that makes us human beings and that is what makes us leaders. I have met with Sheriff. And I have met with others. I will still meet with others, so that we will be able to do what is expected of us as a political party,’ Jonathan said.” Eze further made a case for fair and balanced reporting of national issues, saying: “While we appreciate the interest of journalists in the coverage of the activities of the former president, we urge accurate and constructive reporting, as it is a known fact that we cannot truly develop our nation, if journalists continue to

twist and fabricate stories with the intent of misinforming the public.” Meanwhile, the All Progressives Congress (APC) has dismissed allegations levelled against it by the PDP that it is behind the raging crisis in the opposition party as well as the prevention of its use of the International Conference Centre, for a stakeholders meeting in Abuja yesterday. The Makarfi-led National Caretaker Committee of the PDP had alleged that the APC is responsible for the action of the police, which prevented some members of that faction from meeting at the International Conference Centre in Abuja, thereby forcing a last minute change of meeting venue. Makarfi and the PDP leaders also alleged that the APC had influenced the Appeal Court decision which ruled that previously sacked chairman, Sheriff, be reinstated forthwith. In a statement issued by its National Publicity Secretary, Mallam Bolaji Abdullahi, the ruling party said neither of the allegations is true and should be

ignored. Regarding the alleged police blockade at the ICC, the APC spokesman said the ruling party ought to be blamed since it has no power over the police force. “Neither of these allegations is true in any respect. The police does not take instructions from the APC. The police themselves have explained why they stopped the Makarfi group from meeting at the ICC. If the factional PDP is dissatisfied with the police explanation, they could seek further clarifications from the Police or pursue alternative means of redress,” it said. “So far, the Makarfi group has not faulted the police or provided any proof for its allegations against the APC, which we find quite surprising, considering that Makarfi and his group have in their ranks, individuals who are sufficiently experienced to know that without any evidence, such allegations could easily be dismissed as baseless and therefore be ignored by all right thinking members of the public, including our party. APC also expressed concern over the attack on the integrity and uprightness of the judiciary

by the parties in the PDP crisis. “The reason we have not simply ignored the wild allegations is because we are imperiled by utterances and conducts that attack the integrity and independence of our judicial system. Every Nigerians should be worried by the behaviour of the various PDP members which is capable of eroding the confidence Nigerians in our judicial system. Even as they battle themselves for survival, we urge restraint in the interest of our democracy. “We wish to reiterate that the APC has no interest in the internal crisis that is consuming the PDP, which is only one of several opposition parties in the country. We pray for them to put their house in order soon because as a political party that was once in the opposition, we believe that democracy is better served when the opposition is alive. “However, we also know the PDP can only begin to take steps towards recovery if they stop peddling conspiracy theories and blaming imaginary enemies,” it said.

there has become knowledge and of public interest” said the Director of IPC, Mr. Lanre Arogundade. According to him, such public interest demands the establishment of an information unit or centre in London to respond to enquiries about the president. The IPC Director said other means of responding to The Guardian reporter should have been explored instead of the attempt to get him arrested.

National Security: DHQ Calls for New Intelligence Policy Paul Obi in Abuja Following the increasing threat to national security, the Nigerian Defence Headquarters (DHQ) yesterday called for a new intelligence policy that will address current security challenges in the country. The Chief of Defence Staff (CDS), General Abayomi Gabriel Olonisakin, explained that the need for a new intelligence policy has become imperative given new cases of terrorism and militancy in Nigeria. According to him, the DHQ and the Institute for Security Studies (ISS) must create the synergy for capacity building in the areas of security and intelligence matters. The CDS stated this when participants of the Executive Intelligence Management Course 10 of the ISS visited the Defence Headquarters in Abuja. Olonisakin said: “With the current rate of insecurity facing the country, threat analysis requires comprehensive knowledge and the need to chart a new intelligence policy to meet up with the current realities.” He added that “with the array of faculties in the institute, ISS is doing a lot to improve the knowledge of intelligence gathering of the participants which could impact

positively in the ongoing war on insurgency and other allied criminalities in the country.” The CDS who was represented by the Chief of Defence Policy and Plans, Air Vice Marshal Bashir Saidu, stressed that “the strategic part of the ISS curriculum is very commendable and strategic to intelligence gathering. He expressed satisfaction with the array of participants from various security agencies and regulatory bodies, stating that, “the inclusion of various government agencies gives room for cross fertilisation of ideas and collaborations.” Speaking, the Director, ISS, Mr. Matthew Seiyefa, explained that the choice of Defence Headquarters was in recognition of the military’s tremendous contributions to national security and nation building. Seiyefa further stated that “the rising threat profile in the country can only be checkmated if the intelligence community synergise with strategic security agencies like Defence Headquarters to understand the operations and strategic interplays in the interest of national security.” Highlights of the visit included a presentation on the roles and operational organisation of the DHQ as well as various military operations being

LIFE-TIME ACHIEVER

L-R: Mrs. Yetunde Onilere; Hajia Abba Folawiyo; and the awardee, Senator Florence Ita-Giwa, being presented with the a Lifetime Achievement award by Chief Opral Benson, during 2017 annual Silverbird Awards in Lagos...weekend. Mubo Peters

ExxonMobil Denies Embarking on Fresh Retrenchment of Workers Ejiofor Alike Mobil Producing Nigeria (MPN), a subsidiary of ExxonMobil Corporation, yesterday denied reports that it embarked on fresh retrenchment exercise where 89 workers were sacked. There were reports that the latest retrenchment that allegedly affected 60 regular workers and 29 contract staff, were carried out at the company’s Qua Iboe Terminal in Akwa Ibom State. But the Manager, Media and Communications at ExxonMobil, Mr. Ogechukwu Udeagha, told THISDAY last night that no such fresh retrenchment was carried out by the company. “I can confirm that there is no truth whatsoever to that claim,” Udeagha said. A top official of the company, who spoke on condition of

anonymity, also denied any fresh sack of 89 workers. “To the best of my knowledge, the company has not embarked on a fresh exercise after the Minister of State for Petroleum, Dr. Emmanuel Kachikwu, intervened in the December 2016 retrenchment exercise. The minister is still in the process of resolving that one. So, there is no way the company can initiate a new exercise,” he said. The official further stated that the report of the sack of 89 workers was the one in December 2016, which was widely reported. “If you read the new report, they said that the company had paid the 89 workers all their entitlements running into millions of naira. That statement is a confirmation that what they are referring to was last year’s exercise. If the company had

embarked on fresh exercise, there is no way the process of working out their entitlements would have been concluded. Payments of entitlements take a longer period. So, they just rehearsed an old story,” the official added. When contacted by THISDAY to confirm or deny the new development, the National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Comrade Francis Johnson did not respond to calls on his mobile phone. Before the intervention of Kachikwu, the aggrieved workers of the company had in December 2016 shut down the company’s corporate head office in Lagos in protest over the attempt by the company to sack over 150 workers.

The protesting workers had accused the company of flagrant violation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act by deploying expatriates to take over jobs for which there is local capacity. The workers had also insisted that the outgoing Managing Director of the company, Mr. Nolan O’Neal, must be relieved of his duties. The Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) and PENGASSAN had on October 26, 2016 threatened to go on strike over alleged plans by the international oil companies (IOCs) to sack 3,000 of their members. The unions had also issued a 21-day ultimatum to the federal government calling for a halt to the sacking of their members by the IOCs.

WEDNESDAY FEBRUARY 22, 2017 • T H I S D AY

NEWSEXTRA

Witness Reveals How $1m was Found in Badeh’s Wardrobe Nyako’s trial resumes today Alex Enumah in Abuja The 15th prosecution witness in the trial of the former Chief of Defence Staff, Air Chief Marshall Alex Badeh (rtd), Mohammed Goji, yesterday told the Federal High Court in Abuja that the sum of $1million was found in the wardrobe in the Maitama property belonging to Badeh. Goji, who is a detective with the Economic and Financial Crimes Commission (EFCC), said the money was stashed in a boiling kettle pack in the upper compartment of the bedroom wardrobe of the first defendant. The witness said the EFCC obtained a search warrant before conducting the search of the two houses belonging to the former CDS. Badeh is currently facing corruption and money laundering charges at the Abuja division of the Federal High Court. When the matter came up yesterday, he vehemently objected to the admissibility of document and other evidence found the property. The anti-graft agency claimed the exhibits belonged to the former CDS and sought to tender them as evidence against him in the 10-count charge preferred against him and Iyalikam Nigeria Limited. Badeh along with a company, Iyalikam Nigeria Limited, is standing trial before Justice Okon Abang on charges bordering on money laundering, criminal breach of trust and corruption to the tune of N3.97 billion. The objection according to Badeh’s counsel, Alhaji Sanusi Lasun (SAN), was hinged on the grounds that the search was executed in gross violation of Section 150 of the Administration of Criminal Justice Act (ACJA), which requires that the person, whose property is being

searched or any person, acting for him must be present during the search to sign the inventory of the items recovered from the property. Lasun argued that there is nowhere in law that allows the person conducting a search to pick any body from the street to supervise the search, as done by the EFCC, which he noted picked a security guard from the neighbourhood to sign the inventory of the items allgedly recovered from the property located on Oji River Street, Maitama District, Abuja allegedly belonging to Badeh. The counsel who stated that Badeh witnessed the first search conducted on his Asokoro residence by the EFCC, wondered why the anti-graft agency refused to conduct the second search in his presence, even when Badeh was then in the custody of the prosecution. “The search was conducted in a clear violation of Section 150 of ACJA and anything done in violation of ACJA, which regulates criminal trial, is a nullity. “Nobody shaves a man’s head behind him. All the items claimed to be found in the defendant’s house was a nullity,” Lasun said and urged the court to refuse the items sought to be tendered from the second search by the EFCC. In his submission, the prosecution counsel said the argument of the defence counsel is not correct, adding that Section 149(4) of ACJA permits a search warrant to be executed in the presence of a witness and the person it is addressed to. He said the provisions allows the person which the warrant is addressed to look for a witness in the neighbourhood to supervise the search, saying, there is no law that says the owner of the house must be present before a search warrant can be executed.

Kinsfield to Commence Gold Production in Kogi by Q4 2017 Ejiofor Alike An extractive firm based in Abuja and the United States, Kinsfield Energy, has unveiled its plans to commence the production of gold in one of its gold fields in Yagba West area of Kogi State in the last quarter of 2017. The Chief Executive Officer of Kinsfield Energy, Adekunle Akintola, said in a statement yesterday that the company had completed geological, geophysical and geochemical acquisition of data and evaluation to cover the gold prospect. According to him, the evaluations have shown a common occurrence of the prospects at a commercial level. “Drilling for further confirmation of the commerciability of the prospects and volumetric is expected to commence in the 2nd quarter of 2017. Kinsfield Energy has conducted exploration on her two gold fields in the Yagba west area of Kogi State in Nigeria for over five years,” he added. Akintola further stated that the extractive firm is also exploring for gold in the prolific Atakunmosa West area of Osun State, stressing

that the firm is also prospecting for gold and diamond in the Tonkolili and Kunu districts of Sierra Leone. “The anticipated commencement of gold production in the Yagba west area of Kogi in the last quarter of 2017 is expected to project Kogi State as a gold ore producing state and Nigeria as a revenue earner in solid minerals sector which is in line with the economic diversification efforts of the federal government,” he explained. “We have done geological mapping, geophysical survey, geochemical sampling and contracting core drilling of the gold fields. Our vision is to pursue an aggressive policy of acquisition and development of gold and bitumen fields across Africa,” he added. He explained that gold mining is a lucrative business next to petroleum, stressing also that it is internationally priced. He pledged that his company is committed to utilising the extractive opportunities in Africa and North America. Kinsfield Energy, which operates in Abuja and Houston in the United States, had earlier secured two exploratory licenses for gold fields in Yagba West area of Kogi State.

Jacobs said how the document was obtained is irrelevant for the purpose of admissibility and that, what is important is the relevance of the document to the proceedings of the court. In a related development, Justice

Abang will today continue with the trial of the former governor of Adamawa State, Admiral Murtala Nyako (rtd) and seven others standing trial over their alleged involvement in a N40 billion fraud while he was governor of the state.

EFCC is prosecuting the former governor along with his co-defendants on a 37-count charge bordering on criminal conspiracy, stealing, abuse of office and money laundering. They are alleged to have used

five companies, Blue Opal Nigeria limited, Serore Farms & Extension Limited, Pagoda Fortunes Limited, Towers Assets Management Limited and Crust Energy Limited, among other companies to commit the fraud.

MORE OF THE AWARDS

L-R: Director, PZ Cussons Consumer Nigeria Plc, Mr. Christos Giouras, Executive Director, Corporate Affairs, Yomi Ifaturoti; Head, Corporate Services Division, Institute of Chartered Chemist of Nigeria, Ms. Rita Michael-Ojo; General Manager, External Affairs, PZ Cussons Nigeria Plc, Mr. Mohammed Tahir, and the Company Secretary, Mrs. Abiola Laseinde, at the presentation of ICCON Merit Award to PZ Cussons in Lagos...recently

Another Batch of 171 Stranded Nigerians in Libya Arrive Lagos Airport Chinedu Eze About 171 Nigerians who were stranded in Libya voluntarily returned to Nigeria yesterday. They heaved a sigh of relief when the aircraft that brought them landed at the Murtala Muhammed International Airport, Lagos, yesterday evening. The returnees comprised of 112 females and 59 males; the females included 109 adults, two children and one infant, while the males comprised 49 adults, five children and five infants.

THISDAY learnt that the Nigerians voluntarily returned home with the assistance of International Organisation for Migration (IOM) and the federal government, just like the161 Nigerians who voluntarily returned last week. They arrived at the cargo terminal of the airport aboard a chartered aircraft and on hand to receive them were the Senior Special Assistant to the President on Foreign Affairs and Diaspora, Abike Dabiri-Erewa, alongside officials of the National Emergency Management Agency (NEMA), Nigeria Immigration

Service (NIS), among others. Some of the returnees wept uncontrollably as they arrived, ventilating their grief as they recalled the awful experience they went through in the North African country that has witnessed internecine civil war since the death of the late leader Muamar Gaddafi. Dabiri-Erewa, who spoke with journalists at the Hajj camp where the returnees were profiled, alerted Nigerians of human trafficking syndicates that specialise in luring young Nigerians to Europe and

warned irregular migrants that are still in Libya to return home, saying irregular migration to the North African country attracts death. According to her, the returnees should not be stigmatised as they went in search of better lives. The Director of Search and Rescue, NEMA, Air Commodore Salisu Mohammed, said NEMA had taken responsibility for their rehabilitation with their families. Also, representatives of states like Edo and Delta, among others were on ground to receive their indigenes.

NYSC Withdraws Corps Members from Rivers Rerun Elections Ernest Chinwo in Port Harcourt The National Youth Service Corps (NYSC) has announced the withdrawal of corps members from participation in Saturday’s rescheduled rerun election in parts of Rivers State citing violence as reason. The announcement came barely three days to the rescheduled rerun elections scheduled to hold in Etche and Omuma Local Government Areas on Saturday, February 25. The Rivers State Co-ordinator of NYSC, Mr. Omotayo Adeyeye, gave the stand of the corps yesterday during a stakeholders meeting towards the rerun elections at the police headquarters, Moscow Road. The Co-ordinator, who also spoke with newsmen shortly after the meeting, said any NYSC member who decides to participate in the

election would be doing so on his/ her own risk. He said: “I don’t have the wherewithal to say go ahead and participate in the elections or don’t participate. An MoU was signed at the commencement of this partnership between the NYSC and INEC. When a call is made on us to feature in any election, I, as the chief executive of the NYSC in the state I have to call the national directorate headquarters, headed by the director general. “I have contacted him and the advice that I am receiving is that, because of the violence that attended the last election in which case our corps members were at the receiving end of assault on their personality by politicians, we may not be able to vouch for their security this time around. “Some of them showed interest but if they do so and they feature

in the election, they are on their own. After now, I call headquarters and tell them what I experienced in today’s meeting. One thing is to make appeals and promises, another thing is to ensure that there is security. “These are people who will come and waylay these children on their way during the elections and even after the elections, they will not allow them to reach their destinations. We have means of identification of corps members. So anybody who says he’s going to fake should have a second thought.” Addressing the stakeholders, the Resident Electoral Officer in the state, Mr. Aniedi Ikoiwak, regretted that this is the second time a rerun elections was being organised in the state sequel to the 2015 general elections. He informed them that the elections would take place in 147 polling units in the two

LGAs for the national Assembly, and 74 units for the state Assembly in Etche only. Ikoiwak further stated the elections are taking place in areas where the commission could not access due to violence, where materials arrived but elections did not hold, and where elections took place but results were rejected. He further informed that three Electoral Officers, EOs, and three Area Electoral Officers, AEOs have been deployed for the elections, adding that apart from corps members, every other person participating in the elections are INEC staff. He, therefore, cautioned the INEC staff to be of good conduct by putting their jobs first. Earlier, the Acting Commissioner of Police in the state, Ahmed Magaji (DCP), also stated that the meeting was to ensure security during and after the elections in the state.

WEDNESDAY FEBRUARY 22, 2017 • T H I S D AY

CRIME&PUNISHMENT

OPC Joins Search for Kidnapped Army Officer Chiemelie Ezeobi Following the abduction of an officer of the Nigerian Army,

one Lieutenant Gyang, who was abducted at the Ijedodo area of Abule Ado, Lagos, the O’odua People’s Congress (OPC)

Abuja Mass Housing Estate Drags Developer to EFCC over Alleged N2bn Fraud Iyobosa Uwugiaren in Abuja Over 300 house owners, under the platform of Winning Clause Estate Residents Association, Plot 67 Kafe District, Gwarinpa Extension, Abuja, have requested the Economic and Financial Crimes Commission (EFCC) to investigate the alleged collection of over N2 billion from them under false pretense. In a petition addressed to the acting Chairman of the anti-graft commission signed by Mr. Mike Arowosegbe and Mr. Taiwo Adisa, Chairman and General Secretary of the association respectively, and acknowledged by EFCC on February 20, 2017, the house owners requested for thorough investigation of the activities of Winning Clause Limited and its promoters, Mrs. Obiageli Okwubanego, an estate developer, and recovery of the “monies” collected from them “under false pretense.” According to the petitioners, “We are representatives of the residents and home owners association of the above-named estate located at Plot 67, Kafe District, Gwarinpa Extension, Abuja. “Between 2009 and 2011, most of us subscribed to an estate located at Plot 67, Kafe District, Gwarinpa Extension, Abuja, then known as Saraha City Estate and which belonged to Saraha/Proform Limited at the time. ‘’By 2012, when many had completed their buildings and actually stated living in the houses, another developer named Winning Clause Limited entered into the fray and claimed it was the rightful

owner of the plot. “A court action was instituted by the claimants and after some pushing and shoving, the parties resolved to enter into a consent judgment in October 2013 and the judgment was delivered by the Abuja High Court number 24 on November 28, 2013.’’ The house owners said with that judgment, the said Plot 67, Kafe District was transferred to Winning Clause Limited and their members elected to work with the company in accordance with the Consent judgment, saying to their utmost shock and dismay, another claimant to Winning Clause Limited surfaced in January 2017. The residents further added that while they were all along trying to cope with ‘’highhandedness’’ of the Managing Director of Winning Clause Limited, Mrs. Oby (Obiageli) Okwubanego, all the while, the house owners were taken aback by the emergence of another claimant to the company, which was awarded the right to Plot 67, Kafe District by the court. Attaching a letter by a counsel to one Mrs. Halimat Abdulazeez, which has effectively placed a caveat on the said Company, the petitioners said that contrary to the judgment of the court, the said Okwubanego had imposed series of levies and fees on their members under false pretense and forced them to pay ‘’humongous’’ amounts under threats to life and property. ‘’She had effectively deployed agents of the FCT administration during the tenure of Senator Bala Mohammed, who allocated the

Navy Destroys over 40 Illegal Refineries in Delta Sylvester Idowu in Warri Over 40 illegal refineries were last Monday night destroyed by the operatives of the Nigerian Navy Ship (NNS) DELTA at Jones Creeks in Warri South West Local Government Area of Delta State in a renewed effort to frustrate the activities of oil thieves in the area. The illegal refineries were first discovered by the intelligence unit of the NNS Delta on February 9, 2017, but little could be done to evacuate crude oil products due to lack of equipment until men of the security outfit moved in on Monday night to set the product ablaze along with facilities at the illegal refineries sites. Commander NNS Delta, Commodore Ibrahim Dewu, disclosed to journalists yesterday at the Warri Naval shortly after the operation, that he had to order the destruction to prevent the criminals’ from further accessing to the products for their illegal operations. He said they had to set the suspected crude oil ablaze because the navy does not have equipment

to evacuate such a large quantity of product. “Burning illegal refineries with the crude was our last option so that the people will not come back and evacuate them. However, they cannot even evacuate them because it is in a very large quantity. “My concern and worry is the effect these illegalities is causing on the environment. We are going to sustain these operations so that we’ll be able to stop all these illegal activities within the creeks in line with the CNS directive. “This will enable the people in the communities live a normal life because as we speak, aquatic life have been destroyed because the environment is polluted,” he said. THISDAY recalled that the illegal refineries and over 200 tanks, carrying over 10,000 liters each were uncovered by the navy on February 9, 2017. This came barely 24 hours after the Chief of Naval Staff, Vice Admiral Ibok-Ete Ibas, launched ‘Operation Tsare Teku IV’ in Warri to further combat criminal elements operating in the nation’s maritime domain.

yesterday indicated interest to join the manhunt. The group said their move was influenced by the continuous death of their members in the hands of the rampaging kidnappers, especially the two that were killed during the recent abduction attempt at Isheri North and a coordinator, Akeem Lawal that was injured by kidnappers. It was gathered that the partnership is geared towards totally flushing out the kidnappers from the various creeks and mangroves in Lagos and Ogun States. According to eyewitness accounts at the Ijedodo axis, over 20 armed militants had stormed the area and dragged the lieutenant into their speedboat after engaging the soldiers there

in a gun duel. Throughout the operation, sporadic gunshots were heard at Festac throughout Monday and in the early hours of yesterday forcing residents to remain indoors. According to an eyewitness, Aidan Oluwole, a fisherman, he had noticed suspicious movements when he came to inspect his fishing net. He said: “I was coming to inspect my fishing net when I noticed some suspicious movements. One speed boat was at the shore with a man pretending to be carrying out repairs on it. “Then all of a sudden, I heard gunshots. As that was going on, I saw a soldier being dragged into the speed boat that I assumed was faulty and they sped off shooting.” Already, operatives of Operation

Awatse, a taskforce headed by the Flag Officer Commanding (FOC) Western Naval Command, Rear Admiral Fergusson Bobai, have since occupied various entry and exit points into the creeks, with a view to smoking them out. Also, operatives of the army have since Monday evening commenced an onslaught on the kidnappers after its personnel was abducted. Reacting to the development, Yinka Oguntimehin, spokesman for OPC factional leader, Gani Adams, stressed that the group has run out of patience and was ready to take the war to the doorsteps of the militants. He said: “We are taking no more chances. I think our tolerance has been mistaken for cowardice and it is time to act. “Now we are ready to join hands

with the relevant Nigerian forces to smoke out all militants that have constituted themselves as the tail troubling the dog of Lagosians all these while. “We have already moved into action, and they shall all be smoked out and dealt with in no time.” As at press time, the press department of the 81 Division was yet to react to the incident that took place over 48 hours ago. The Assistant Director Public Relations of 81 Division of the Nigerian Army, Lieutenant Colonel M.D. Dauda, said he had just assumed duty on Monday. Although he promised to make available a press statement regarding his assumption and the kidnap of the lieutenant, nothing of such happened.

NO PLACE LIKE HOME

Libya returnees alighting from the aircraft on their arrival at Murtala Muhammed International Airport, Ikeja in Lagos....yesterday

Arrest of School Children was Stage-managed to Instill Discipline, Says Enugu Proprietress Christopher Isiguzo in Enugu Following the outrage that trailed last week’s alleged molestation of pupils of an Enugu-based private school, Early Dew Montessori Academy, by policemen for failing to do their assignments, the management of the school yesterday dismissed the incident as false, insisting that the invitation of the policemen to the school was stage-managed to instill discipline in the children. Apparently miffed by the incident, the Enugu State Government had last Monday suspended the operations of the school located at Imoke street, GRA, Enugu. The pupils were between the ages of 4 and 7 years. The state Commissioner for Education, Professor Uche Eze, who visited the school, described the act as an embarrassment to the state government and a serious psychological abuse of the children. Eze said the action would serve as a warning to other private schools in the area who adopted unethical practices in the name of punishment to students,

and therefore directed the school authority to write an apology letter to the state government, parents of the abused children and the people of the state. But, briefing journalists at the school premises, the Proprietress of the school, Mrs. Ify Okonkwo, explained that the reported arrest of some pupils of the school who did not do their assignments and those whose uniforms were dirty was stage managed to instill discipline. The proprietress who confessed to not considering the implications of her action, said the pupils were asked to get into the back of the police Hilux Van where they pleaded to be of better behaviour. Also, a parent who was part of the arrangement, Jesica Nnamani, appeared to further plead on their behalf leading to their immediate release. “I want to thank the people of the state, especially Governor Ifeanyi Ugwuanyi and the Commissioner for Education, Professor Eze, for showing concern in this matter. I also want to thank the parents for their understanding. What happened in the school on February 16 was to encourage the children

to be focused. I brought the police to come and talk to the children and to elevate them to read on their own without being pushed. “In my mind I thought I was doing it to bring the children up in a way that they will be attached to their studies. No child was manhandled neither did they point a gun at any of the children. I was the person that took the pictures and we have a group chat I opened for parents as one family to brief them on the school’s activities. When I took this action, I posted it on the platform, with the caption, ‘some children were arrested today for not doing their homework, for not reading their books, for not behaving well, but they promised to change.’ “I didn’t mean any harm; I meant well for the kids, if not, I wouldn’t have made it public; it would have been between me and the teachers; also, when I uploaded it on the platform, parents were commending me.” She however noted that while other parents were commending her action, one of them who had issues with the school uploaded

the report of the incident on Facebook alleging that the state government in conjunction with the school arrested the pupils for not doing their assignments. On her part, Nnamani corroborated the explanation by the proprietress, noting that “on that very day, I came to the school to attend to my sick son where the school ‘mummy’ told me what she was planning to do. Some of the pupils involved were looking very dirty so when the police came she told them that the police would take them away until they promised to be of good behaviour. “Then I acted and said, school ‘mummy’ please don’t take them away, they will change. I said okay, are you people promising school ‘mummy’ that you will do well from now on? They all said yes! “The people you saw on that van were people who weren’t serious with what was happening; they were rather laughing. They now took them behind the van; it was then they started begging. “If I should say, she didn’t mean any harm. As a parent, I supported what she did. She did it in the interest of the pupils.”

WEDNESDAY FEBRUARY 22, 2017 • T H I S D AY

NEWSEXTRA

Stop Harassing Pro-Biafra Agitators, Ohanaeze-Ndigbo Pleads with FG Ernest ChinwoinPortHarcourt The apex Igbo socio-cultural organisation, Ohanaeze-Ndigbo World-wide, has accused the federal government of double standards in its handling of issues concerning pro-Biafra organisations like the Movement for the Actualisation of the Sovereign State of Biafra (MASSOB) and the Indigenous People of Biafra (IPOB). Ohanaeze-Ndigbo said rather than harassing, killing, arresting detaining and killing members of the groups, there was need for the federal government to go into dialogue with the agitators with an aim of finding lasting peace in the region and country. President-General of OhanaezeNdigbo World-wide, Chief John Nwodo, who spoke yesterday during an interactive session with journalists in Port Harcourt, the Rivers State capital, said the agitation by MASSOB and IPOB came as a result of marginalisation and therefore needs political solution and not military confrontation. He said: “Under the Constitution of Nigeria, you have freedom of expression and freedom of association. If somebody says he wants Biafra, he is free to say so as long as he is saying it in a legitimate way. He can take his petition to the National Assembly. He can have a plebiscite, if he wins, fine, if he doesn’t win, he takes it like that. “The fact that we, their fathers, have not joined them should give a signal to Nigeria that they have not yet become so popular to carry us along and that this matter can be addressed politically. If they see this marginalisation end, if they see the restructuring of the country, they could probably think twice.” He noted that despite the seditious activities of dreaded terrorist group, Boko Haram, as well as other groups such as the Niger Delta Avengers (NDA) and the Oodua Peoples Congress (OPC), the federal government is still dialoguing with them, saying that pro-Biafra agitators

would have a change of mind of such gesture is extended to them. He said: “In North-eastern Nigeria, there is a military group called Boko Haram, armed with tanks and other dangerous weapons. They have ravaged and conquered territories, some of which have been recovered. When they conquer a territory, they displace the people, they displace the traditional authority, they erect their own authority and they put a flag. “What could be more seditious than that? In other words, they are preaching a new country, their own country. They have a flag. I don’t know any one of them that is in detention; I don’t know anyone of them who is being tried for treason. The federal government is using Heads of State of other countries to negotiate with them. “There has been several failed negotiation which the federal government publicly admitted and millions of Naira lost. I know of a militant organisation in this part (Niger Delta) called the Avengers, who are as angry as MASSOB and IPOB boys. They have destroyed wells, pipelines. I know the Vice President of Nigeria has visited three Niger Delta states seeking for peace and negotiation in order to keep their children calm. “I know OPC in Western Nigeria, who is like a military force, saluted at every checkpoint. What has IPOB and MASSOB done to the federal government? Why are they being treated differently? Is this an animal farm where some are more equal than others? If they treat them, I mean IPOB and MASSOB, the way they are treating Boko Haram and negotiate with them, they will probably think differently. If they treat them the way they are treating Avengers, they will probably think differently. “For that reason, I say to my brothers who are in MASSOB and IPOB, I am your brother and I extend my hand of fellowship. Come and let’s work together. I understand why you do what you are doing; I understand your anger, your frustration and your

expectations. In spite of the crude methods they have used to suppress you, you have continued to move on. I feel so bad about our people.” Nwodo also accused the federal government of marginalising the Igbos in terms of appointments and development. He said: “Our people feel marginalised. Our people feel unwanted in the Nigerian federation; our people feel ill-treated. “In this country, the most sensitive positions in governance are the positions pertaining to national security. There is a clear vote of no confidence on the Igbos as being incompetent, incapable, or unreliable of being vested with the headship of any of the security agencies in Nigeria. He expressed regret that Igbo people were compulsorily retired to [pave the way for junior officers from favoured regions to be appointed into headship of federal agencies. “There can be no clearer signal, especially when there are senior officers in these services who are senior to the incumbents who were retired from services. I know there were times in this country when a chief justice was appointed to give a tribe a sense of belonging; I know there were times in this country when a lieutenant colonel was catapulted to become vice president just to give a sense of a federal character. When it concerns the Igbos, this doesn’t seem to be the case,” he lamented. He also said the region had been denied attention in terms of capital projects. “Look at capital projects in Igboland, since the war ended, coming from Enugu to Port Harcourt is a nightmare. The road is impassable. I thank Fashola who came some days ago and said work would be finished in 17 months. I hope we can believe him because I remember when Jakande was federal minister of works, he told us the Second Niger Bridge would be completed in 18 months. That bridge has not been completed even till date,” he said.

Lori-Ogbebor Takes DESOPADEC, Itsekiri Group to Court over Community Devt Levy Sunday Okobi Lagos-based businesswoman and rights activist, Chief Rita LoriOgbebor, has dragged the Itsekiri Regional Council and Delta State Oil Producing Areas Development Commission (DESOPADEC) to a Warri High Court and Federal High Court respectively in Delta State over the disbursement and management of community development funds accruable to Itsekiri communities in the state. At a press briefing which took place in Lagos yesterday, Ogbebor also lamented that funds meant for the development of Itsekiri communities were allegedly being mismanaged by an ‘illegal body,’ adding it was high time the trend stopped. Briefing journalists on her reason for the litigation, she noted that those who had access to development funds were living large at the expense of the Itsekiri people. She cited as compendium entitled: ‘The Odessey of Wastage: A Case of Itsekiri Development Master Plan,’ to further buttress her point on the alleged neglect of the oil producing ethnic nationality by concerned authorities.

Lori-Ogbebor said the first case would come up tomorrow in Warri while the second one would come up later. According to her, “Evil men have taken over our country, while we have gone to court in prayers. Despite all that had happened in our courts, the criticisms and wrong doings, I still have faith in our courts. In 2005, Chevron multinational company thought it was suitable to put right some of the problems they have caused in the community. So, they gathered the ethnic groups in Itsekiri, Ijaw, and Isoko areas. They brought them together to form what they called the Global Memorandum ofAssociation (GMA), which was supposed to take care of development in the area. All others registered, but the Itsekiri’s never did.” She added that “they went on dealing with Chevron without registration, and they carried on illegally. How can Chevron do business with an illegal body? These people they are relating with, who do they represent? Who are they? The Olu of Warri is the head of the Itsekiri people, but he is not even involved. But Chevron kept on with their deal as if they are right. In

the eyes of the law, since 2005 till date, we have seen nothing, due to these illegal bodies. “This act of illegality was not known in the Itsekiri kingdom, this is a new set of people that have come in the last 16 years to ruin our kingdom. So, today, I have gone to court to bring sanity to my area. If other leaders will pretend as if nothing has happened, I am not going to pretend. Because when things happen like this, they usually develop into huge problems at the end. I have gone to court to ask Chevron and members of the Itsekiri Regional Council to tell the Itsekiri how they have spent our money.” The hotelier stated that there is a group that has taken inventory of all the jobs done in Itsekiri kingdom by the Itsekiri Regional Council, Chevron, and DESOPADEC. “I have here a book called the Odessy of Waste. It shows how leaders wasted our money. Today, there are no schools in the rural areas, no hospitals, and there are no jobs in Warri. “So, we are taking the board members of the Itsekiri regional council and chevron to court tomorrow. Then we will take the Delta State Government to the federal high court soon.”

T H I S D AY • WEDNESDAY FEBRUARY 22, 2017

WEDNESDAYSPORTS C A F

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

P R E S I D E N C Y

Pinnick Throws Nigeria’s Weight behind Hayatou’s Opponent

The Nigeria Football Federation (NFF) is backing a challenge to the long-serving President of the Confederation of African Football (CAF), Issa Hayatou. Mr Hayatou is standing for an eighth successive term of office, but faces opposition from Ahmad Ahmad, the head of Madagascar’s FA. Hayatou has been in the saddle since 1988. Amaju Pinnick, president of the NFF, told the BBC the election will be “a defining moment for African football”. He said Ahmad was “courageous” in coming forward to challenge Mr Hayatou. Pinnick said CAF needs a “new generation” of leadership, following the change at the top of the world governing body FIFA. He cited “post-election differences between Gianni (Infantino, the new FIFA

president) and Issa Hayatou which are irreconcilable”. Infantino will be in Johannesburg later on Tuesday for a gathering of football federation leaders from across the continent. He is then due to visit Zimbabwe at the invitation of the head of the southern African confederation, COSAFA - which also backs Ahmad. Pinnick acknowledged that Hayatou could still win - but said if he did, the veteran Cameroonian would need to be open to different influences. “You have to listen to a larger audience instead of just a tiny cabal, you have to know it goes beyond you,” Pinnick said. “I will definitely work with him if he wins but my prayer is we need a bridge builder and that person is Ahmad.”

WORLD CUP 2018

Lawal Raises the Alarm over Physical Cameroon Former Nigeria international Garba Lawal believes the 2018 World Cup qualifier clash between Nigeria and African champions Cameroon will be a difficult contest. Gernot Rohr’s men will face the Indomitable Lions in a double-header on August 28 and September 2 respectively, with the three-time African kings hoping for at least four points out of six to confirm their place for Russia 2018. Despite the Super Eagles leading Group B with six points - four points ahead of Hugo Broos’ men, the 42-yearold urged the country’s senior national side not to relent. “I’m happy for Cameroon emerging as African champions. Nobody gave them

a chance, but that’s football for you,” Lawal told Goal.com “Now we are playing Cameroon in a double header (qualifier). We’ve played two games and got six points from them. “I must say the coaches and players have done a fantastic job so far. But they need to remain focus and not relent. “They need to concentrate and maintain what they’ve started in the best possible way against them because one game can change everything.’’ “Cameroon are a physical side and rely solely on their physical strength. But we (Nigeria) believe in skill, mental and as well as physical aspects of the game,’’ he continued.

Excel College Inter-house Sports Hold Tomorrow Invitational Relay races will be the highpoint of the Excel College Annual Inter House Sports competition as teams from top schools in Lagos battle for top prizes. The Annual sports meet holds tomorrow, February 23, 2017 at the Nigerian Air Force Base, Sports Ground, Shasha, Lagos. Relays teams from Whitesands School, Lekki, St. Francis Catholic School, Idimu, Ronik College, Ejigbo and Queensland College, Ago, Isolo, top the list of schools that will vie hours

in the 4x100m (boys and girls) and 4x400m (junior, intermediate and senior) events. Other star events to be contested by the houses are the 100m (male and female), 200m (male and female); and the 400m for the junior, intermediate and senior categories. Also to featuring are the middle distance races-800m and 1,500m (boys and girls), Basketball, Table tennis, Volleyball and Badminton; High jump (boys and girls), Shot put ( Boys and girls).

Formidable Sergio Aguero (right) celebrating his spectacular second goal in the 5-3 defeat of Monaco in the UEFA Champion League Round of 16 first leg clash ... last night. Atletico Madrid defeated Bayern Leverkusen 4-2 in the other match of the night

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

Low Cup: Kano Hago, Lagos La Mansuri in Flying Start Kano H Hago edged Lagos Balmoral International 6 1/2 - 6 in the Low Cup as the final week of the 2017 NPA Lagos International Polo Tournament sponsored by GTBank commenced on Tuesday. Lagos La Mansuri also got off to a flying start in the Low Cup with an 8 - 3 1/2 win over Ibadan Oluyole with Ibrahim Musa Dantala, the MVP of the Silver Cup during the first week, influencing an impressive win for the home side. In the Balmoral-Hago match watched by the Managing Director of GTBank, Segun

Agbaje, the visitors - formed by Sarki Waziri (0), Tata Alikura (+2), Baccha Mustapha (+2) and Yusuf Ibrahim Katako (+2), took initiative and won two penalty kicks but were missed by Katako and Alikura, and they were made to pay for their wastefulness by Isa Kwame, who scored the opening goal with a low shot from about 12 yards to give Balmoral, completed by Luqman Adebayo (+1), Kabiru Saidu (+2) and Mohammed Dangote (+1). Kwame, a three-goaler, was back on the goal line less than thirty seconds after but this time, he puts his low shot

off target. Katako puts Hago, who started the match on a half-goal handicap, ahead with a 10 -yard penalty to end the first chukka. Alikura extended Hago’s lead to 2 1/2 - 1 at the start of the second chukka but another 30-yards miss from him saw them missed the chance of furthering their lead. He amended for the miss in the final minute of the chukka to make scores 3 1/2 - 1 but Adebayo forced the ball over the goal line off a Kwame shot to end the chukka at 3 1/2 - 2. The penultimate chukka started on a blistering note

with Katako scoring Hago’s fourth field goal and the chukka was barely 90 seconds old when Mustapha scored as Hago begin to get out of sight with scores at 5 1/2 - 2. Isa converted a 40-yarded for 5 1/2 - 3. Alikura’s missed a golden chance failing to convert in front of goal under no challenge. Dangote pegged the scores to 5 1/2 - 4 in the final chukka. Katako got his third goal for a 6 1/2 - 4 lead but Isa scored twice to set up a tense finale.However there was no time left for further goals to the relief of Hago and their supporters.

FCT Classic Berths IBB Golf Club

Olawale Ajimotokan in Abuja

A strong field of international golfers will scramble for the FCT Classic on the West Africa Golf Tour at IBB International Golf and Country Club, Abuja. The 54-hole tournament will officially tee off on Friday following a practice round by the players on

Thursday to get them familiar with the layout. The event, which plays through Sunday, will go down as the first professional tournament to be hosted by IBB Club this year after the hugely successful Nigerian Masters also on the schedule of West Africa Tour towards the end of last year. A statement by the organizers said that the

FCT Classic will feature professional golfers from Nigeria, Ghana, Cameroon, and Zimbabwe. The total professional prize purse offered is $25,000 of which the winner’s share is $4,000. The amateur tournament will be played on February 25-26 attracting players from all over Nigeria. The tournament is

powered by Linea Furniture Production and supported by Berkshire Hotel, Nigeria Info and Cool FM, Zitadel Medicals and Diagnostics and Bolingo Hotels and Towers. FCT Classic is one out of the ten events on the schedule of West Africa Golf Tour in 2017 and it will mark the first anniversary of the Tour that was launched in February 2016 in Abuja.

T H I S D AY • WEDNESDAY FEBRUARY 22, 2017

WEDNESDAYSPORTS

U E FA C H A M P I O N S L E A G U E

Age-defying Iker Casillas, Buffon Renew Rivalry Goalkeeping icons Iker Casillas and Gianluigi Buffon will renew their rivalry dated back almost two decades when Porto hosts Juventus in tonight’s Champions League last 16. Age is just another number for Spaniard Casillas, 35, and 39-year-old Italian nemesis Buffon. Between them they have 334 caps, 275 Champions League matches, 12 league titles, two World Cups, two European championships, three Champions Leagues, a UEFA Cup and a combined age of 74. The clash at Porto’s Dragon Stadium will be the 17th in their storied careers. Before kickoff the sparring between the pair had already begun on Twitter. “What do you think about it? For me, you’re the best,” wrote Casillas of a UEFA poll on the world’s leading goalkeepers. “I’m not choosing. We’re the best,” replied Buffon. In fact, both were the peerless in the early 2000s and Buffon remains without a doubt the top goalkeeper in Italy. Last season was one of the most brilliant of his career. Two uncharacteristic slips at the start of this season -- against Lyon with Juventus and Spain with the national side -- were quickly overshadowed by several top class performances. His mind remains sharp and his hands as hard as the marble of his hometown Carrara, with no sign of weariness as he targets a first

Champions League title and a final World Cup in 2018 in Russia. By contrast Casillas has fared less well. The man dubbed ‘San Iker’ lost his place in the national side and had to leave Real Madrid for Porto after 25 years. His first season in Portugal in 2015 was complicated, with what he termed “some blunders”. “Maybe I didn’t reach the level I wanted last year, I didn’t feel completely comfortable,” Casillas said in an interview with Uefa.com. But the three-time Champions League winner with Real Madrid has regained his spark this season basking in glory as he oversees the most solid defence in Europe with just 11 goals conceded. A sign of his return were two incredible last-gasp saves against Sporting Lisbon earlier this month. “I don’t know how I reached those balls, I still have a sore back,” joked Casillas following a performance which prompted Spain coach Julen Lopetegui to state the door “was not closed to Iker Casillas”. “I am lucky enough to be three years younger than Gigi. I was 14 when I started and he was 18; I was able to see and appreciate his style and personality,” said Casillas. “As I grew up, I looked up to him and then we evolved together and we’ve had similar careers. “Ours is a healthy, positive rivalry: we really appreciate

7Up CEO Backs Marathon Culture in Lagos Managing Director of Seven-Up Bottling Company Plc, Mr. Sunil Sawhney, has congratulated the winners in the male and female categories as well as Team 7Up for putting up an excellent performance at the Lagos City Marathon which held penultimate weekend in Lagos. Mr. Sawhney said that though 7Up and Aquafina premium table water were official beverage and water respectively of the Lagos City Marathon, his organisation identifies with the Lagos Mega City project hence it is partnering the Lagos State Government to realise this objective. “All over the world big cities have one major annual marathon event: London, New York, Berlin, Tokyo, Dubai to mention a few. The Lagos City Marathon will project Lagos on the global map and ensure that the mega city status is achieved in a very short period,” said the Seven-Up Bottling Company helmsman. Head of Marketing, SevenUp Bottling Company Plc, Mr. Norden Thurston, said 7Up and Aquafina premium table water are lifestyle brands as they give energy to the consumer, provide refreshment and inspire a youthful lifestyle. “This is the synergy between our brands and the Lagos City Marathon as we partner Lagos State Government to ensure that

Lagosians cultivate a youthful lifestyle through physical and leisure activities like the marathon.” 7Up and Aquafina premium table provided the necessary tonic for great performance by the athletes as they took to the 42.5 km race last Saturday morning. From the starting point at National Stadium Surulere, Lagos to the Finish Line at the Eko Atlantic City on Victoria Island, there were over 20 water points and 10 refreshment booths to refresh the runners. Abraham Kiptum of Kenya retained the title he won last year with a cash prize of $50,000. He was followed by his compatriots Ronny Kipkoech Kiboss ($40,000) while Kiprotich Kiroi won the third position. He also won $30,000 for his effort. In the female category, it was also an all Kenya affair with Tanui Rodah, Fridah Lodepa and Alice Timnilil winning the first, second and third positions respectively. Among Nigerian runners, Philibus Sharubutu and Olude Fadekemi won in the male and female categories respectively and were rewarded with N1million cash prize each. The 10km Wheel Chair Marathon was won by Hannah Babalola and Sefiu Adewale in the female and male categories and were rewarded with N1m cash prize each.

Iker Casillas (left) and Buffon each other and playing against him is always a pleasure. “He is a player who is known and admired all over the world and he is part of

the history of this game.” In club clashes, the pair have three wins each with Buffon’s Juventus best in the Champions League semifinals

in 2003 and 2015. But Casillas has had the better record for Spain with three victories to only one for Buffon’s Italy including

Spain’s victory in the Euro 2012 final. The other match of the night is the clash between Sevilla and Leicester City.

NPFL: Wounded Wikki Aiming to Shoot down 3SC in Rescheduled Clash Wikki Tourists striker Victor Yakubu has said his side is focused on winning the rescheduled top-flight Nigerian Professional Football League (NPFL) clash against Shooting Stars Sports Club (3SC). The other rescheduled clash in the topflight this evening is the game between Rivers United and Kano Pillars in Port Harcourt. The Bauchi Elephants, dumped from the CAF Confederation Cup by the Sierra Leonean opposites Republic of Sierra Leone Armed Forces (RSLAF) FC, will

entertain the Oluyole Warriors in today’s rescheduled Matchday 7 clash at the Abubakar Tafawa Balewa Stadium (ATBS) in Bauchi. Yakubu said his side’s resolve to bounce back to reckoning as well as reclaim their pride of place in the domestic scene will start with the clash against the Ibadan landlords. “We have to redirect our whole attention to the league after the shocking elimination from the CAF Confederation Cup. “We are going to give

everything in us to ensure we win the clash against 3SC on Wednesday in Bauchi. “The clash will be an acid test on our resolve to bounce back to reckoning in the domestic league. “It will equally ascertain how quickly we want to return to the continent so the clash against 3SC is quite crucial. “The truth is that we are under pressure from our teeming fans and supporters to get back to winning ways once again. “3SC are a good side and proven their capacity to ruffle

feathers in the on-going top-flight so we expect a difficult match from them on Wednesday. “However, we quite understand that we cannot afford to drop points in the league if we must achieve a landmark at the end of the season,” said Yakubu to supersport.com. Wikki Tourists are 18th on the 20-team top-flight on seven points, 13 behind league leaders Plateau United though with two games in hand against Kano Pillars and MFM FC.

Akwa Utd FC Gets New Technical Director Okon Bassey in Uyo

The Akwa Ibom State Government has named the present Deputy Chief Whip of the State House of Assembly, Otuekong Nse Udofot Essien as the new technical director for the state owned team, Akwa United Football Club of Uyo. The state’s Commissioner for Sports, Hon. Monday Ebong Uko, who unveiled the new technical director for the team yesterday also announced the disengagement of former technical crews of the team. He described Essien as a big football enthusiast and fan of the club saying he is to coordinate

the technical department of the team. Hon Essien who represents the people of Onna State Constituency in the House of Assembly, the sports commissioner said his appointment is with immediate effect. The commissioner expressed optimism that with the coming of Otuekong Essien into the technical committee of the club, the current performance of the club will improve. Besides serving the Akwa United FC, Commissioner Uko said the new technical director is expected to take charge of other youth clubs namely;

Akwa Starlets, Ibom Youths FC and the female team, the Ibom Angels. Akwa United FC appears to be on a slow lane this season having won only two games, drew four and lost three, with 10 points which now put the team in a tight rope as it is closed to the drop zone on the league ladder. Immediately being presented to the public, Otuekong Essien went into action inaugurating new management of the Akwa Starlets FC, on behalf of the sports commissioner. Essien urged the new management team of the club to do the utmost to develop

and turn the boys to future stars not only in the country but across the globe. In an interview, Otuekong Essien promised to breathe the winning spirit into the team, identifying lack of motivation as one of the problems militating against the team’s efforts at winning. He assured the people of the state that Akwa United would witness a new lease of life as players’ welfare will not be compromised, henceforth. He further identified as problem of the club the blending of the old and new players, positing that the team would soon pick its winning rhythm.

T H I S D AY WEDNESDAY FEBRUARY 22, 2017

Wednesday February 22, 2017

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El-Rufai to Suspected Marauding Fulani Herdsmen ”This is clearly a wicked, evil and devilish act being perpetrated by enemies of peace and humanity” – Kaduna State governor, Mallam Nasir El-Rufai condemning the latest attack on some communities in Southern Kaduna by suspected fulani herdsmen where 22 persons were reportedly killed.

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Time For Synergy in Niger Delta L

awyer and environment activist Ledum Mitee made an observation on Arise Television in Abuja yesterday that is worth the attention of Acting President Yemi Osinbajo. Mitee, an acknowledged veteran of the struggle for justice and development in the Niger Delta, pointed to a dissonance between the agenda which government unfolded last week and the demands submitted last November to President Muhammadu Buhari by the Pan- Niger Delta Forum. According to Mitee, for the issues in the Niger Delta to be resolved on the side of equity, government should “engage the people in conversations” on the basis of their demands. In other words, the government should not seek to impose an agenda on the Niger Delta. There is, perhaps, no better time for a synergy of purpose between the government and the people of Niger Delta. Not a few have remarked that Osinbajo’s recent visits to the region could mark a turning point in the federal government’s approach to resolve the Niger Delta Question. The style and substance of the visits have held a promise of honest engagement with the people of the Niger Delta and their leaders. There is, therefore, a tinge of irony when a leader in the region says that government seems to be ignoring the agenda proposed by the Pan-Niger Delta Forum led by Chief Edwin Clark, HRM Alfred Diette- Spiff and Obong Victor Attah among others. The gap could be quickly filled with proper articulation of policy and structured engagement. The issues raised when the Niger Delta leaders met Buhari were fiscal federalism, the Bakassi Question, amnesty programme, key regional infrastructure, the Niger Delta Ministry, the Niger Delta Development Commission (NDDC), imbalance in the ownership of oil and gas assets, inclusive participation, economic development and empowerment. Other items on the agenda were maritime university, the Ogoni clean-up and environmental remediation, increased military presence, delay in law and justice matters, protection of oil and gas infrastructure and the relocation of the headquarters of the IOCs. It is noteworthy that for the Niger Delta leaders the problem in the region is not merely insecurity affecting the exportation of crude oil. From the items on the agenda presented to government, they have defined the problems in developmental terms. At least, that is the angle from which they view the problems. This is a sharp contrast from the perspective of some observers outside the region who see the Niger Delta just as a byword for militancy, insecurity and vandalisation of oil and gas facilities. The agenda ought to be given a more serious study than the government appears to doing at the moment. On its part, the government has announced a “roadmap to closure” of the Niger Delta crisis. On the face of it, it would appear that some of the elements of the government’s agenda are meant to address the issues raised by the Pan-Niger Delta Forum. These include the creation of 100, 000 jobs in each of the oil-producing states, the decentralisation of the amnesty programme and a focus on education of the youth. Other items on the government’s agenda are the engagement of the communities by the oil companies, inter-agency collaboration,

Osinbajo

Clark

business-start-ups for militants, domestication of oil and gas activities, security measures, justice for stakeholders, creation of a development fund and attraction of investment to the region. The Niger Delta leaders have made their demands; but what the government says it plans to do is the policy at the moment. The two agendas sketched above might not actually be clashing. How then do we explain the seeming alienation of the leaders of the region from what the government is embarking upon this time round? Again, there is the need to be sufficiently historical in approaching the problems. So far, nothing suggests that either of the agendas has benefitted sufficiently from the wisdom of the earlier master plans, surveys and strategies put together to solve the problem of the region. A more coherent strategy should be articulated to garner the support of the “stakeholders.” For instance, some of the items on the agenda of the Niger Delta leaders are omnibus in nature. Take a sample. The Niger Delta leaders demand fiscal federalism. If you tackle the issues of Nigerian federalism, some of the items listed above might no more be viable demands to be made on the federal government. If the states and communities in the Niger Delta control their resources and pay justifiable taxes to the federal purse, they would be expected to fix some of infrastructural problems without calling on Abuja to do so anymore. Besides, if the government is contemplating a “closure” it should do a more honest review of previous attempts to implement policies to develop the Niger Delta. The government and the leaders in the region should take adequate historical view of the problem so as to be informed by earlier efforts. For there has been no shortage of efforts to define the Niger Delta condition. Yet every now and then, the question arises: is the problem being properly defined? For instance, 11 years ago, former President Olusegun Obasanjo at a federal executive council meeting launched the Niger Delta Human Development Report prepared by the United Nations Development Programme (UNDP). The report was on the socio-economic development of the region. The verdict was damning. The arguments were

supported by a rich supply of data To draw attention to the scandalous contradiction of mass poverty persisting in the face of stupendous oil wealth in the region report predicted accurately that the region might fail to meet most of the targets in the Millennium Development Goals (MDGs) by the target date of 2015. According to the authors of the report, the Niger Delta would need “a new paradigm of development to address concerns such as disillusionment, frustration among the people about their increasing deprivation and deep-rooted mistrust” In fact, the following excerpts from the UNDP report might further illustrate the point at issue – the need to critically review the story of Niger Delta’s underdevelopment while planning for the future: “Behind the Delta’s poor performance on human development is a complex brew of economic, social, political and environmental factors. Social instability, poor local governance, competition for economic resources and environmental degradation has taken a toll. The general neglect of infrastructure, often rationalized by the difficulty of the delta’s terrain, has worsened people’s access to fundamental services such as electricity, safe drinking water, roads and health facilities that are taken for granted in many other parts of Nigeria. “Other elements include the negative impacts of the oil industry, a constricted land area, a delicately balanced environment and extreme economic deprivation. “The delta today is a place of frustrated expectations and deep-rooted mistrust. Unprecedented restiveness at times erupts in violence. Long years of neglect and conflict have fostered a siege mentality, especially among youths who feel they are condemned to a future without hope, and see conflict as a strategy to escape deprivation. Persistent conflict, while in part a response to poor human development, has also entrenched it, serving as a consistent drag on the region’s economic performance and expectations for advancement. “The sabotage of oil production hurts the economy through the loss of sorely needed foreign exchange to finance national development.

Blown pipelines interrupt the supply of crude to refineries and produce shortages that cause sudden spikes in oil prices. Hostage taking is a stress on foreign captives, their families and the companies they work for, but also presents a challenge to international diplomacy and foreign direct investment. “But the disruption also has adverse effects on the local people, as ensuing violence threatens individuals and communities. Lives are lost, and investments drop along with the availability of jobs. The response to violence has at times meant further violence is unleashed randomly on unsuspecting communities or oil workers. Whole villages have been destroyed and their populace displaced because of disputes that could have been amicably resolved. “The human development implications extend to the harm done to the life chances of children unable to go to school and the further constraints on human and social capital. “There is a general concern that some people, particularly unscrupulous politicians and political organizations, benefit from violence, and that they sponsor some of the youth gangs in the region. Arms merchants along with police and military personnel have supplied weapons to various gangs, and the increased incidence of oil theft has been linked to the need for foreign exchange to purchase arms. “While turmoil in the delta has many sources and motivations, the preeminent underlying cause is the historical failure of governance at all levels. Declining economic performance leading to rising unemployment or underemployment; the lack of access to basic necessities of life like water, shelter, food and clothing; discriminatory policies that deny access to positions of authority and prevent people from participating in shaping the rules that govern their lives—these all indicate that governance over time has fallen short. “Corruption aggravates feelings of being cheated, especially when the rulers live like kings amid extreme want. In spite of the substantial flow of oil money to state and local governments, many communities see no sign of government presence in terms of development projects. This intensifies a sense of hopelessness and mistrust that for the most aggrieved people leads to a call to arms.” The human development condition in the Niger Delta is worse today, 11 years after the grim report above was published. So, in drawing the agenda for the future of the Niger Delta the government and all the other “stakeholders” should make human development the primary focus. It is obvious that the conversations on Niger Delta should be structured and enriched. This is the wisdom in what the Mitees of the world are saying. This moment appears to be an auspicious season to accomplish this task given the approach of the federal government, which is increasingly viewed positively in many quarters. All that is required is the design of a strategy that would guide against the pitfalls inherited from the past. Among these pitfalls is that stakeholders have been working at cross-purposes. Forces that should work as partners have been antagonistic to one another. In order to make a positive impact, one of the expected outcomes of the Osinbajo’s visits to the Niger Delta should be a synergy of purpose among the stakeholders.

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