Wednesday 19th April 2017 by THISDAY Newspapers Ltd

Hunter Becomes the Hunted, House Investigates Arms Probe Panel Tobi Soniyi

In what looks like a displacement of the Presidential Arm Probe Panel headed by Air Vice Marshal (AVM) Jon Ode from the top of the Pecking Order, the House of Representatives has mandated

a joint Committee on National Security and Intelligence and Public Procurement to investigate the presidential arms probe panel. The arms probe panel was inaugurated by President Muhammadu Buhari at the outset of his administration to

investigate the procurement of arms and ammunition by successive governments. Before its disbandment last year, the panel indicted several former government officials, serving and retired military personnel, individuals and companies

for the mismanagement and diversion of funds meant for the procurement of arms for the war against the insurgency in the northeast. Several of those indicted are currently facing prosecution in various courts in the country. One of the notable persons

indicted by the panel include the former National Security Adviser, Col. Sambo Dasuki, who has been in detention for more than one and a half years, despite the bail orders granted by three courts. According to a statement yesterday by media consultant,

PRNigeria, the joint committee chaired by both Hon. Aminu Sani Jaji of the Committee on National Security and Intelligence and Hon. Oluwole Oke of the Committee on Public Procurement, which Continued on page 8

FHC to Recruit Ten Judges to Reduce Shortages on the Bench... Page 8 Wednesday 19 April, 2017 Vol 22. No 8035. Price: N250

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Naira Firms up as CBN Offers $280m to SMEs, BDCs, Others Nigeria requires structural adjustment, IMF insists

Chika Amanze-Nwachuku in Lagos and Obinna Chima in Washington D.C. Following the Central Bank of Nigeria’s (CBN) sustained injection of the greenback into the foreign exchange market, the naira reversed some of its losses in the last few days, gaining N11.00 to close at N399 to the dollar on the parallel

market yesterday, from N410 before the Easter holiday. Yesterday, the central bank injected $280 million into various segments of the market and also commenced its weekly $20,000 sale to licensed Bureau de Change (BDC) operators. A breakdown showed that Continued on page 8

Ikoyi Billions: Peter Obi Confirms Search of His Apartment by EFCC

Davidson Iriekpen The former governor of Anambra State, Mr. Peter Obi, has confirmed THISDAY’s exclusive report yesterday that his apartment was one of the many searched by the Economic and Financial Crimes Commission (EFCC), following the discovery of N13.3 billion in a neighboring

apartment (Flat 7B) at Osborne Towers, Ikoyi, by the commission last week. In a follow up to the information provided by the whistle blower who blew the lid on the cash found in Apartment 7B and further information that there was more cash stashed away in Continued on page 8

Oil Prices Fall to 11-day Low on RELIEF AS ABUJA AIRPORT REOPENS AHEAD OF SCHEDULE... of State for Aviation, Senator Hadi Sirika (right), in a handshake with Dr. Lars Richter of Julius Berger Division CES, when US Shale Output Surge... Page 10 Minister the minister and his team inspected the rehabilitated runway of the Abuja airport before its reopening… yesterday state house

T H I S D AY WEDNESDAY APRIL 19, 2017

â&#x20AC;¢ Continued on Page 29

WEDNESDAY, APRIL 19, 2017 • T H I S D AY

PAGE EIGHT

FHC to Recruit Ten Judges to Reduce Shortages on the Bench Tobi Soniyi In order to tackle the challenges posed by inadequacy of judges on the Bench, the Federal High Court has announced plans to employ ten new judges. This was contained in a notice sent to all heads of courts and the Attorney General of the Federation (AGF) by the Chief Judge

of the Federal High Court, Justice Ibrahim Auta. The notice, a copy of which was obtained by THISDAY, said: “I write to inform Your Lordships, the Honourable Attorney General of the Federation and Minister of Justice and all heads of courts that the Federal High Court will soon commence consideration of candidates

for possible appointments as judges of the Federal High Court. “I therefore invite Your Lordships, the AttorneyGeneral of the Federation and all heads of courts to kindly recommend any fit and proper legal practitioners in Nigeria for consideration for appointment as judges of the Federal High Court.

“Your Lordships are to attach the candidates’ curriculum vitae and your comments on the candidates, stating their state, local government and senatorial districts. “Your recommendations should reach my chambers latest by 1st of May, 2017.” The court has in the past blamed delays in the

determination of cases on inadequate number of judges in the judiciary. The court, initially set up as the Federal Revenue Court was established by the Federal Revenue Act, 1973. It was renamed the “Federal High Court” under Section 228(1) and 230(2) of the 1979 Constitution. The court, as a premier

court of first instance, has recorded impressive growth since inception in 1973 and has become an important pillar among courts in the Federal Judiciary of Nigeria. From the pioneering five judges, the court now has 69 judges. Currently, the court has 36 judicial divisions spread across the country.

The panel submitted its first interim report in November 2015 and presented the second report in January 2016, following which Buhari ordered the EFCC to investigate some serving and retired military officers, mainly from the Nigerian Air Force (NAF). The president also directed investigations into the roles of the officers as well as some companies and their directors in fundamental breaches associated with the procurement by the Office of the National Security Adviser and the Nigerian Air Force. During their investigation,

some members of the arms probe panel were accused of receiving bribes from individuals and companies that were being investigated by the same panel. One of the members, Air Commodore Umaru Mohammed (rtd.), was later arrested and detained by DSS for money laundering and illegal possession of firearms. Some serving security officials also accused the panel of criminalising critical institutions and indicting groups and individuals through media trials without being arraigned in courts of competent jurisdiction

where the accused could defend themselves. Apart from AVM Jon Ode who was the chairman, other members of the disbanded arms probe panel included Rear Admiral J.A. Aikhomu (rtd.), Rear Admiral. E. Ogbor (rtd.), Brig.-Gen. L. Adekagun (rtd.), Brig.-Gen. M. Aminu-Kano (rtd.), Brig.Gen. N. Rimtip (rtd.), the late Rear Admiral T.D. Ikoli; Air Cdre U. Mohammed (rtd.), Air Cdre I. Shafi’I, Col. A.A. Ariyibi, Group Capt. C.A. Oriaku (rtd.), acting Chairman of the EFCC, Mr. Ibrahim Magu, and Brig.-Gen Y.I. Shalangwa as its secretary.

courier today (yesterday). “He even left instructions that we should allow them to also search his Onitsha residence should there be need for that. “After a thorough search, nothing was found in the apartment,” Obienyem said. Obienyem revealed that during the search, one of the operatives of the EFCC was overheard expressing doubt if the apartment had anything to do with Obi, citing the fact that it was the simplest in terms of furnishing and reflective

of his ascetic lifestyle. A source also revealed to THISDAY that Obi learnt of the search warrant obtained from the EFCC from his neighbour, Chairman/ CEO of Zinox Technologies Limited, Mr. Leo Stan Ekeh, who has two children living in the apartment building. One of his sons, Nnamdi, 24, who is a resident of Osborne Towers, is a budding entrepreneur and founder of the online shopping portal Yudala. Ekeh reportedly called Obi at the weekend to inform

him that the EFCC had searched his children’s flats and advised him to send his key from London so that his flat could be searched likewise. Obi, THISDAY gathered, promptly asked his wife to send the key via courier to a family friend to let the EFCC operatives into his flat. The Obis, it was gathered, neither keep maids nor housekeepers at the apartment and always lock it up when they are out of town.

digit levels in a few large economies in sub-Saharan Africa (for example, Nigeria, Angola, Ghana), reflecting, among other factors, the pass-through of large depreciations. “In sub-Saharan Africa, a modest recovery is foreseen in 2017. Growth is projected to rise to 2.6 per cent in 2017 and 3.5 per cent in 2018, largely driven by specific factors in the largest economies, which faced challenging macroeconomic conditions in 2016. “After contracting by 1.5 per cent in 2016 because of disruptions in the oil sector coupled with foreign exchange, power, and fuel shortages, output in Nigeria is projected to grow by 0.8 per cent in 2017 as a result of a recovery in oil production, continued growth in agriculture, and higher public investment. “In South Africa, a modest recovery is expected, with growth forecast at 0.8 per cent in 2017 as commodity prices rebound, drought conditions ease, and electricity capacity expands. “Angola’s growth is also expected to turn positive in 2017 (to 1.3 per cent), driven by an expansion in the non-oil sector because of higher public spending

and better terms of trade. “Many of the largest nonresource-intensive countries will find it increasingly hard to sustain growth through higher public capital spending, as they have done in the past, in the face of rising public debt and a slowing credit cycle,” he added. The WEO report stated that the consistent good news across the global economies since the summer of 2016 has started to add up to a brightening global outlook. “The economic upswing that we have expected for sometime seems to be materialising: indeed, the World Economic Outlook (WEO) raises its projection for 2017 global growth to 3.5 per cent, up from our recent forecast of 3.4 per cent. “Our 2018 forecast holds steady, with the world economy’s growth set to rise to 3.6 per cent next year. The expected growth improvements in 2017 and 2018 are broadly based, although growth remains tepid in many advanced economies, and commodity exporters continue to struggle. “At the same time, however, the upgrade to our 2017 forecast is modest, and longer-term potential growth rates remain subdued across

the globe compared with past decades, especially in advanced economies. “Moreover, while there is a chance growth will exceed expectations in the near term, significant downside risks continue to cloud the medium-term outlook, and indeed may have intensified since our last forecast. “One salient threat is a turn towards protectionism, leading to trade warfare,” the report added.

HUNTER BECOMES THE HUNTED, HOUSE INVESTIGATES ARMS PROBE PANEL has begun investigation of the probe panel, has called for the submission of written memoranda/position papers from top government officials and the 241 indicted firms. A member of the committee, who did not want his name in print, said other stakeholders and the general public with relevant information on the matter have been requested to make submissions before holding the public hearings. Those officially invited to make submissions on their memoranda include the chairman and members of the arms probe panel, National Security Adviser

(NSA), Defence Minister, Finance Minister, Interior Minister, Governor of the Central Bank of Nigeria (CBN), Accountant General of the Federation and Auditor General of the Federation. Others invited include Secretary to the Government of the Federation, service chiefs and ex-service chiefs from 2010 to 2016, Director General, Department of State Services (DSS), Director General, National Intelligence Agency (NIA), acting Chairman Economic and Financial Crimes Commission (EFCC), Director General, Bureau of Public

Procurement (BPP), Executive Chairman, Federal Inland Revenue Service, Director General of the National Pension Commission (PENCOM), Director General, Industrial Training Fund, and Managing Director, Nigeria Social Insurance Trust Fund (NSITF). The arms probe panel was inaugurated in 2015 by the president to investigate the procurement of hardware and ammunition in the armed forces from 2007 to 2015 and to identify irregularities and make recommendations for streamlining the procurement process in the military.

IKOYI BILLIONS: PETER OBI CONFIRMS SEARCH OF HIS APARTMENT BY EFCC another apartment in the same luxury complex, the EFCC had obtained a warrant from the court to search all the flats in the building. Accordingly, it notified all the occupants of the building that its operatives would search all the flats to ascertain the veracity of the information provided by the whistle blower who works in the complex. By Monday, the commission had searched 21 of the apartments including those belonging to the former National Chairman

of the Peoples Democratic Party (PDP), Alhaji Adamu Mu’azu who developed the sky-rise residential building. A statement yesterday by Obi’s media aide, Mr. Val Obienyem said the former governor has confirmed the search by the EFCC of Flat 1 occupied by him in the building. Responding to enquiries from the press, Obienyem, who revealed that the ex-governor’s primary residence is in Onitsha, Anambra State, he added that the apartment rented

by Obi’s wife, Margaret, is usually used by the former governor anytime he is in Lagos. Obienyem who cautioned mischief makers against linking Obi to the cash haul, made it clear that the entire occupants of the building were also searched. “Even though Mr. and Mrs. Obi had travelled to the UK and U.S. for speaking engagements, when he was informed of the search, he quickly sent the keys to the 4-bedroom apartment to the EFCC via

NAIRA FIRMS UP AS CBN OFFERS $280M TO SMES, BDCS, OTHERS the CBN sold $100 million through 7-45-day wholesale forwards, retail invisibles got $80 million, while Small and Medium Scale Enterprises (SMEs) got $100 million. The Bank’s spokesman, Mr. Isaac Okorafor, who confirmed the latest intervention, said the new window for SMEs would no doubt boost retail businesses that had been crowded out by big manufacturers. Okorafor further explained that the CBN introduced the use of Form Q for the SMEs to ease the bottlenecks usually encountered by this category of businesses. He reiterated that each SMEs is allowed to purchase $20,000 per quarter under this arrangement. He restated that the new form, which must be completed by all SME applicants, requires the applicant to fill the form with a supporting application letter, the beneficiary invoice and bank wire transfer. According to him, eligible applicants must have operated their bank accounts for a minimum of six months. The objective of the new guideline, he added, is aimed at removing obstacles usually encountered by those whose FX needs for either visibles or invisibles are as small as or less than $10,000.

He reiterated the central bank’s determination to continue to ensure adequate supply of FX for genuine transactions in the coming days. On the sale of FX to BDCs, the Bank said the decision was taken to ensure that the pent up demand from lowend users is met promptly. With the intervention of the CBN in the various aspects of the market, analysts were of the view that the naira would sustain its gains on the parallel market. But as the CBN continued with its forays in the FX market and talking up the naira, the International Monetary Fund (IMF) yesterday restated the need for Nigeria to adopt structural reforms that would enable its economy adjust fully to the new fiscal realities of low oil prices. According to the fund, Nigeria and other commodity exporters need to fully adjust to structurally lower oil and other commodity revenues because prices—the recent rebound notwithstanding— remain low. The chief of the IMF’s World Economic Studies Division, Oya Celasun, stated this while responding to questions during a press conference to unveil the latest World Economic

Outlook (WEO) report titled: ‘Global Economy Gaining Momentum - For Now,’ at the ongoing World Bank/ IMF Spring meetings in Washington D.C. She pointed out that exchange rate flexibility helps in restoring the value of the local currency, while stressing the need for economic diversification. Celasun, however, acknowledged that economies in Africa are diverse in terms of their environment challenges. “Fiscal policies have to adjust to new realities. In many cases, this can happen by focusing more on domestic revenue mobilisation. Where exchange rate regime allows for adjustment, it can also help to restore exchange rate flexibility which helps the value of the domestic currency and revenue,” she explained. Earlier, the Economic Counsellor and Director of the Research Department of the IMF, Maurice Obstfeld, pointed out that the outlook for Africa remained subdued, saying that output growth was expected only moderately to exceed population growth over the forecast horizon, having fallen short in 2016. “Inflation in 2017 is expected to remain at double-

TOP GAINERS NGN NGN FBN HOLDINGS 0.16 3.36 C & I LEASING 0.03 0.67 DANGFLOUR 0.18 4.40 TRANSCORP 0.03 0.82 SEPLAT 10.00 400.00 TOP LOSERS NGN NGN FIDELITY 0.08 0.80 ETI 0.41 7.79 ETERNA 0.16 3.05 UNIONBANK 0.26 4.98 OANDO 0.27 5.32 HPE Nestle Nig Plc N728.07 Volume: 254.959 million shares Value: N2.448 billion Deals: 2,854 As at yesterday 18/04/17 See details on Page 44

% 5.0 4.6 4.2 3.8 2.5 % 9.0 5.0 4.9 4.9 4.8

T H I S D AY • WEDNESDAY, APRIL 19, 2017

Ex-wife of Factional Boko Haram Leader Caught Loitering in Maiduguri M chae O ugbode n Ma dugur A suspected su c de bomber and ex-w fe of a fact ona eader of the Boko Haram sect Mamman Nur was recent y apprehended by offic a s of the N ger a Secur ty and C v Defence Corps (NSCDC) n Borno State The g r Fat ma Kab r 15 marr ed Mamman Nur as the first of three husbands she had wh e she was n capt v ty for two years w th the terror group Now four months pregnant Fat ma has a so tested pos t ve for HIV Speak ng to ourna sts yesterday Fat ma c a med that she ha s from Gwoza town and was abducted by the nsurgents and taken to Samb sa forest three years ago She sa d “I am an nd gene of Gwoza town One day Boko Haram stormed our town k ed many peop e and k dnapped me “S nce then I have been v ng n the dreaded forest and was marr ed from one Boko commander to another “I was t red of that horr fy ng fe so one day I reso ved to flee and succeeded “As I was runn ng I saw a team of m tary men and qu ck y rushed

to them and narrated my ordea ” She added “They sympath sed w th me and took me to the r co eagues n Gwoza who n turn conveyed me to Kano motor park n Ma dugur and gave me the sum of N3 000 and sa d I shou d use t for food and transport to ook for my parents n one of the camps for the nterna y d sp aced persons “So wh e stay ng there n ght fe and I became stranded w th no where to go unt some operat ves of the c v defence corps apprehended us and brought us here ” Fat ma further revea ed that after her marr age to the fact ona eader of Boko Haram she was marr ed to two other nsurgents who ater abandoned her and fled from Samb sa The other teenage g r arrested a ongs de Fat ma Am na Sa su corraborated Fat ma s story that they were stranded before the r arrest and never p anned to detonate any exp os ve Am na sa d she ha s from Gu ak town n Adamawa State but was abducted and taken to Samb sa two years ago She sa d she was marr ed to two nsurgents dur ng her capt v ty

The Borno State commandant of the NSCDC Ibrah m Abdu dur ng the br efing sa d h s operat ves had ntercepted the two teenage g r s Abdu wh e parad ng the g r s at a press br efing n Ma dugur sa d they were suspected to have been smugg ed from Samb sa forest nto the town to wreak havoc on nnocent c v ans He sa d one of the g r s Fat ma confessed to have been the ex-w fe of Mamman Nur and that med ca tests had confirmed that she was carry ng a four-month-o d pregnancy and nfected w th HIV He added that the other ady Am na equa y adm tted that she was marr ed to separate Boko Haram members n Samb sa forest The commandant further revea ed that the g r s were found o ter ng at the popu ar Kano bus park n the Ma dugur metropo s and that upon extens ve nterrogat on they confessed that they were sneaked nto Ma dugur for poss b e su c de attacks The commandant exp a ned that after proper nvest gat on the command wou d hand them over to the appropr ate author t es for next ne of act on

Famine: World Must Aid Nigeria to Avoid ‘Mass Exodus’

STARTERS

Two-Minute Briefing NEWS NOI Polls: Buhari’s Performance Rating

Rises by Five Points President Muhammadu Buhari’s performance rating has increased by five points, according to a poll conducted by NOIPolls.The results of the poll which was made public, indicated that the rise was due to the president’s return from medical leave, his Economic Recovery and Growth Plan... Page 10

NEWS

WEDNESDAY APRIL 19,

NOI Polls: Bu Rises by Fiv hari’s Performance Ra ting e Points Email davidso

NORTHERN LEADERS

VISIT ASO ROCK

visited the State LASG: We are House Not Afraid of Taking Toug Rev King, Othe h Decision on rs Finall

y reopens Al-M ustapha’s murde r case

EDITORIAL The Power Supply Conundrum

The Saudi Electricity Company recently announced that in anticipation of an increase in the number of pilgrims expected this year, it had upgraded the capacity of its plants at the holy sites, bringing them to 18,680MW. For many Nigerians, this must be depressing news. In our country... Page 15

POLITICS Agbaje, the Incurable Optimist

THE POWER

he Saudi Electricity Company recently announced that increase in the in anticipation of an expected this number of pilgrims year, it had upgraded capacity of its the plants at the bringing them holy sites, Nigerians, this to 18,680MW. For many In our country, must be depressing news. at an all-time power generatio high of 5,100 n peaked after investing MW several billions mid last year and that was The Minister of dollars. of Power, Babatunde Raji Fashola, Works and Housing, Mr. SAN, told ARISE broadcast company that due to system of THISDAY NewspapTV, a sister plants, electricity collapse at two of the ers, last week nation’s generation had power He promised dropped to to 3,400MW. six days. That restore generation to 4,000 didn’t happen country at a as darkness MW within time situation remains of intense heat. Even enveloped the now, the power epileptic wits end on the solution and government appears to the daunting at its Fashola spoke challenge about funding structure, inadequa issues, obsolete . te gas supply infradue to vandalism WHAT NIGERIA huge debt burdenand DEMAND, AND NS and ARE MEGAW DESERVE, low water levels at ATTS hydro power stations. OF ELECTRICITY, He said governm MEGAWATTS NOT ent was set OF EXCUSE S problemsto tackle these with its and power sector reforms, which power recovery plan sanitise the he explained sector and make would Stripped of it attractive his lenges, what brilliance and grasp of to investors. the sector’s is left of Fashola’s chalActually he epic interview said stated the same nothing new. Past governm is cynicism. ents have structure decay; problems: inadequate funding; infragas pipeline sector debts. vandalism and huge public To say that the power sector lenge is an understat has ement. After been a national chalhad invested the federal governm about N2.7 trillion success, it opted ent for privatisat in the sector without was handed over to private ion. But ever since the sector investors in 2013, not much

Letters to the Editor

cannot be fixed

positive results has hovered have been posted as power around 4,000MW generation distribution have been lagging . Besides, transmission panies unable and with the distributi to do more on combecause of weak than 3,000MW at best of times distribution inadequate infrastruc financing to upgrade their ture occasioned by equipment. wo years ago, the intervened with Central Bank of Nigeria (CBN) Market Stabilisata N213 billion Nigeria Electricity ion Facility for within the operators prices paid by the sector. The governm ent also raised electricity consume Tariff Order (MYTO), introduce rs under the Multi-Yea make tariffs r d in June 2012 more cost-refle investment. ctive to encourag to gradually The latest adjustme e private (2015-2024), nt in the current which took MYTO effect prices by an average of 45%. on February 1, 2015 raised have brought succour to the This too would appear not supply remained problematic sector as powerto epileptic. Nigerians were failure to provide told that the reason for the palpable the public sector them electricity was that was operating the inefficiency vate sector investme of it and look up. Unfortun nt and control, power that with prisupply ately, that has disappointing not happened would . More ment to chart is the evident impotenc e of the governa the sector has way out of the obvious conundrum found that Although governmitself. ent plans another intervention fund N701 billion throwing money for the sector, we think, however, that at the sector governance is no solution and as there are sorted out beforeregulatory issues that would have the nation can to be headway. Meanwh begin to make ile, the Nigeria some Commission Electricity Regulato (NERC) is largely comatose that should tackle ry board was dissolvedas it has no chairmanthese issues since the last almost two The federal years ago. government, appoint a chairman therefore, needs to urgently for the NERC could set about so that the commiss that have kept dealing squarely with ion the naughty issues demand, and the sector on its knees. What Nigerian deserve, are megawatts megawatts of excuses. of electricity s , not

Letters in response to specific publicatio readers may TO OUR READERS ns in THISDAY opinions on send such letters along should topical local, 1000 words). national and with their contact details be brief (150-200 internatio words) and They should to opinion@ straight to the be sent to opinion@nal issues provided thisdayliv point. Intereste thisdaylive.com they are well-writt e.com. We also welcome en and should along with the comments andd also not be longer email address than (950and phone numbers of the writer.

MIDWEEKPOL ITICS

• WEDNES

DAY, APRIL

19, 2017

AKER

Notwithstandi ng the crisi the national chairman of s rocking the Peoples look at the chan the Democratic ces of one of party continues unab Party, the race the contende ated rs, Jimi Agbaje. Segun James takefor sa

FEATURES Entrepreneurs of Tomorrow

lthough, the Peoples Democratic Party (PDP) remained embroiled in a leadership crisis, yet battle as to who will lead the party has resumed the in earnest. For those who the polity closely, JAYKAY Pharmaceu are following tical and Chemical changing political a changing nation Limited and Company was party, a changing means a landscape and when he decidedManaging Director political until 2005 to venture Therefore, the a changing political leadership consummate into politics. battle as to professional, . capable to who is qualified the Pharmacis he was a member A lead ts Council of and of general election the party towards National Secretary Nigeria (1999 the 2019 – 2006); become crucial. after the present of General Practice of the Nigerian Associatio crisis has Pharmacists The choice 1987 – 1990; (NAGPP) fromn of National Chairman the Supreme who will lead the party – 1993) and Court has finally Chairman PharmaceNAGPP (1990 after is in charge of Nigeria decided on utical society Lagos State between Ali Ahmed Makarfi (1994 Modu Sherrif who He was a member, Lagos – 1997). is likely to and apex court on Fake and be shaped State Task decision. Adulterated by the At a time National Drug Drugs (1989 force when party – Formulary ing that there loyalists were List (1986 – and Essential 1993), 1993) was hopDrugs a solution and Lagos leadership agement Board in sight Hospitals crisis, events for the worse suddenly took to the on the board (1994 – 1997). Agbaje Manwhen Sherrif of other organizati a turn also sits out of a meeting Oakwood Park reportedly stormed ons including Ltd, called Atlantic Hall Goodluck School Epe, Jonathan. As by former President Secondary Jimi Agbaje combatants dedicated to it is now, Outreach (a presently embroiled the two helping of wits over served as business the less fortunate) project in and has mentor at Fate the party, maywho is the authentic a battle In a 2013 interview Foundation. leader of Agbaje of the Supremehave to wait for the he began in judgment politics: “It had talked about how Enters Olujimi Court. hood Abiola/Ba to do with the shir Tofa presidentia Mosor J. K Agbaje, Kolawole Agbaje, aka he said. “I Jimi Agbaje l election”, saw who believes a pharmacist turned insult and an the annulment as politician a personal he has the the fortune magic wand This led to assault on the Nigerian of my around beforethe former largest party to turn call activism, first entry into what people. in Africa the election. in a battle professionals” working with other I would with the formerHe is now locked Agbaje....confident of emerging concerned chairman of Ayo Ighodaro, such as Prof. Pat Utomi, deputy PDP chairman Dr party in the the battle and the leadernational Agbaje believes Oby Ezekwesil Asue Ighodalo, Billy southwest, Lawson, of i, that the although an Chief Olabode over who heads has Odukale. Jimi Tola Mobolurin and uneasy George time returned to the party, either a political the party in the group or the was in one form of Hassan the realisation calm an effective is not in event that resistance other which the protracted or legal solution is pivot for an the hands of the party may that rocking the leadership in the face of the crisis join the socio-political ultimately led him to amicable solution found to party crisis be the after in the of a new party it loss power organization, While most general election, where he served next few and installation in the last Afenifere leadership. the party as national as the crisis people have thrown in months. When the Agbaje has Based on his treasurer. the towel rocking the search for the charisma, caucus decided that the leadership fact most of PDP started party ability Agbaje joined affiliation with Afenifere, leadership them have indeed lingers, and in last year, Agbaje of the most and capability to lead quality, (AD) the Alliance Jimi into the ruling the critical period the party at for All Progressiv found their way of reckoning. But following was never in the Action his first political party Democracy in its history. Agbaje has was persuaded the party leadership es Congress the decision Congress (AC). and later remained resolute, Hence, he (APC), chairmans determined to zone the had initially In 2007, Agbaje the Agbaje is one to contest for the leadership committed, hip to the southwest as national aspired to contest person that and who . of Lagos political party. he soldiers on in the from does and challenges for not the the Governor State embattled need for shy away and responsibi Agbaje is invitation to Congress left on the platform of lity. He saw an the Action lead the party the stubborn. Once incurable optimist as a call to at this critical the People’s Alliance party to join the Democrat and very duty and challenge he is convinced time eleven (DPA). He he sticks to be faced head about anything, was among ic aspirants whomturn it, on in the interest which must the the him that the no matter whose ox But Agbaje AC when ed their gored. Tell found a formidabl of the nation. smile and PDP is a dead party; his former Bola Tinubu it was alleged that back to e opposition tell you that he would mentor and Governor had already in else to useless, not Bode George political nothing is anointed succeed him even a supposed entirely who had initially leader, Chief primaries. even before someone But then, Agbaje but later turned ly dead party. When the the party’s does not believe out to be his urged him on the best Widely believed to search for is dead. That in the race. have only opponent that campaign in But 2007, Agbaje conducted has no doubts,the party has problems,the PDP the leadership on. He believesundaunted, Agbaje gubernatorial contested is of the him, the party but dead – certainly yes he PDP starte emerge chairman he has what it will moving eventually, election on the DPA platform, in alongside other not. To d last year, but and political may be having its to victory when of the party. He was take to like Musiliu major contender own crisis Agbaje was Obanikoro s that once the tribulations, but he is of PDP, dramatic turn the crisis in the partycoasting Labour Party never in the optimistic reckon protracted - lost to BabatundeFemi Pedro of at the national took a of now at its legal the the party ing. battle Action Congress. convention fianal stage Raji Fashola that which is But follow of in is over, the Today, there was cancelled. He left DPA ing party will, like the Supreme Court the decision the ashes of indicated theirare four persons who ruling party, in 2011 and went on the eagle, soar its to join the the PDP following leadership of the party interest in becoming have now of Even before crisis to victory in 2019. from of the party. DPA the to by de-registrat the zone the They include ion members and this renaissance, a lot national chairm the Chief of Staff Bode George, leader Commission Independent National of party Electoral (INEC). On former leaders former officially ship to the retired Generalto President Goodluck anship have jumped to the indicated his October 29, 2014, he APC instead Jonathan, southwest salvage the of Ondo State, Jones Arogbofa, former interest in Lagos State situation and of waiting to help the giving the governor gubernatorial Olusegun holes in the The battle shot by picking need for an and elections ship. Agbaje mend the leaking has indeed Mimiko and Agbaje. effecti He remains has refused Agbaje is undaunte started. Despite On 8 December up the PDP nominatioanother steadfast. to defect. leadership n form. 2014, it was this, emerged d as he soldiers in the face ve He would not resolve to lead reported that as the candidate on in his cross from the the the of PDP he crisis to the APC into victory out of the woods 2015 Lagos of the PDP embattled rocking as in for the and defeated State gubernatorial he believes several others have done party after it Jimi Agbaje 2019. election, Musiliu that everybody loss powerthe party 1957 because was born on to just one Musiliu ObanikoroObanikoro in the having the 2nd of in Lagos State in the political party. cannot all belong last genera March of was the former primary. to the late political system Kosebinu, a After all, the State for l election, the Chief banker and nation party which is very requires a virile opposition Mrs. Margaret Julius of the PDP. Defense who is also Minister a teacher. caucu He is the a member essential for second child Olabisi, function properly. male child He is married the system Agbaje has s decided that of and to He, however two males) five siblings (two females first a lawyer. The to Abiola Agbaje (née including Segun Bankole), also believes couple met leadership the charisma, and University be a virile Guaranty Trust that for PDP Agbaje, CEO qualit opposition of Ife and dated as students at the to and of getting force, it requires effective leadership Agbaje attendedBank. for eight years married. They capability y, ability before an that have three children; move it to for his primary the elite Corona School, boys and a to lead the the next level. should be ready to party girl. education Lagos two at the is ready to St. Gregory’s As the PDP provide for This, he insisted, he College for hisbefore proceeding to continues period in its most critical the crucial and where he was secondary education next general election, to waddle toward critical stage party at this very not only the history. Hence was a great the what the party for the 2019 to have any as the preparatio school’s prefect, he was persua election gathers cricket and requires effective , n he represented presence in in the National steam. ded to Lagos state governorship elections contest for coming up the three he proceeded Cricket Competition! in later this in Anambra From here the leadership year and in he graduated to the University of next year is Osun and Ekiti Ife a leader with as In 1982, Agbaje a Pharmacist in 1978. where can effectively proven abilitystates bring who founded his own company, a great performan the member together ce. Jimi Agbaje for is that leader. believes he

FEATURES

On a breezy evening in the first week of April, b black suits and ties streamed ofApr acksu tsandt esstreamed into the Civic Centre innV Victoria ntotheC v cCentre ctor a Island, s and Lagos.There were photographs and shaking of hands and a glitzy cocktail, shakngofhandsandag tzycockta but the cynosure of all eyes that evening was a group of 10 young Nigerians... Page 20

CITYSTRINGS Facelift for Akure

The state s hand ng of the s tuat on n northeast N ger a has been h t by a egat ons of offic a s stea ng and se ng a d and hav ng sex w th women n exchange for food A ak a sa d the Borno State Government had taken measures to mprove protect on efforts - such as hav ng more fema e offic a s n camps for the d sp aced - and tack e corrupt on “But you need to put such nc dents n the w der context of w despread suffer ng and desperat on ” she sa d “We need to tack e the root cause of the cr s s not ust these symptoms ” The human tar an response has a so

T H I S D AY

Group Politic s Editor Tobi Email tobi.so Soniyi niyi@thisday live.com 0803314613 9 SMS ONLY

Although, the People Democratic Agbaje, the In curable Optim Party (PDP) remained embroiled in a ist leadership crisis, yet the battle as to A who will lead the party has resumed in earnest. For those who are following the polity closely, a changing nation means a changing political party, a changing political landscape and a changing political leadership. Page 18 THE NE WSM

En repreneu rs of Tomorro w CONTINUED ON PAGE

T H I S D AY

• WEDNESDAY,

APRIL 19, 2017

A S

NIBOR

166.7500% 18.5671%

A t

3-MONTH

6-MONTH

21.6018% 23.0226%

A P R I L 1 9 , NITTY 1-MONTH 3-MONTH

16.2494% 19.6985%

Group Busine

ss Email chika.a Editor Chika Amanze-Nw manzenwach ukwu@thisda achuku ylive.com 0803329415 7

2 0 1 7 6-MONTH 9-MONTH

ASHON’S COUR TESY VISIT

Tackling the Root Cause

UNDRUM

by excuses

L-R : Vice Chairman , Associati Group, Oba Otudeko, Public on of Owners of Stockbro Chairman, Mr. Relations Officer, king Houses Emeka Madubuik e during courtesyMrs Ifeyinwa Ejezie,of Nigeria (ASHON), Mr ASHON’s; Chairman Akin Akeredol visit of ASHON’s executive officers , Mr. Patrick u-Ale; Founder, Honeywe Ezeagu and ll to Otudeko immediate in Lagos… recently past

“For N ger a th s s an unprecedented human tar an cr s s of arge magn tude We and the w der wor d were arge y unprepared for t ” she sa d add ng that N ger a was strugg ng to respond as t dea s w th ts first recess on n 25 years J had st group Boko Haram s e ght-year nsurgency to carve out an Is am c state n northeast N ger a has k ed at east 20000 peop e and forced some two m on to flee the r homes

EDITORIAL

SUPPLY CON

The energy crisis

nly few days back the Independen Commission t National Electoral (INEC) published next general the timetable shall present election so as for the himself with the electoral to bring about accreditation his voter’s card calender of certainty in at to a presiding Nigeria. exercise gained is registered. the polling unit in the officer for significant mileageThe agenda setting constituency The announced in which his other technologic presiding officer shall when practice the the passage name use a smart use of al device that of a legislation the Senate from time to may be prescribed card reader or any It bears repeatingelectronic voting in Nigeria. to bring into time for the by the commission that just before accreditation authenticate passed the bill .” of voters, to the end of legislating into verify, confirm The senate explained assent/veto being (consequenMarch 2017, the senate or override) of that t upon presidential legal footing the electronic INEC. In the and clarity to this aspect of the amendmen voting and considered card readers the commission card readers thinking of ber of the National t for ’s introduction “gives solid Assembly, the the legislators at the upperfor the it equally “makesaccreditation of voters is meant to fresh amendmen during elections”, of smart chamintroduce the the commission room for introduction ts to the electoral use of electronic 52 (2) of the of other election adding that , as may be amendment neces passed by the voting in elections. Sectionact shall adopt devices by electronic voting senate reads: voting as may “The in be determined all elections or any other commission explained that “the amendmenby the commission from method of but also gives time the commission t mandates e-voting without to time.” It impracticab ambiguity le to use e-voting discretion to use other methods if Integrity of in any election.” it is the ging the practice electoral process remains 18 the of democracy biggest if well implemente problem dogin d, will ensure Nigeria. Therefore, the disenfranch amendments, transparenc isement y in polls and electoral process, of eligible voters and other attendant check the the lawmakers Specifically, crises of the had reasoned. section of voters, transmissio 49 of the new amendmen n of accreditatio t tagged “Accreditat to voters, etc,” n data, issuance states: “A person ion of ballot intending to vote in an electionpapers

OVERNIGHT 1-MONTH

F E AT U R E

L-R: Vice President, Prof. Yemi Osinbajo, Chairman, ACF, Senator Abubakar leader of the yesterday Arewa Consultativ Girei; and Ambassado e Forum (ACF) r Adamu Mohammed , when the ACFdelegation, Alhaji. Liman Musa delegation Kwande; Vice-

Oil Prices Fall to US Shale Outpu 11-day Low on t Surge

Ejiofor Alike with agency reports

R A t E S NIBOR

been fraught at t mes due to tens ons between the state and nternat ona a d agenc es The pres dent s spokesman n December sa d a d agenc es nc ud ng the Un ted Nat ons were exaggerat ng eve s of hunger to get more fund ng from donors wh e Borno s governor n January sa d many of the groups were profit ng from the cr s s “Th s arose from a ack of understand ng and the fact that N ger a has never faced th s k nd of s tuat on before there s no den a of the sca e of the cr s s w th n the country but rather ncredu ty around what has been go ng on ” A ak a sa d “For the first s x years of the nsurgency the prev ous government d d not adequate y acknow edge or respond to t ” she sa d “It was not unt (Pres dent Muhammadu) Buhar came to power ( n 2015) that N ger a and the wor d woke up and sme t the coffee ” W th Boko Haram s nsurgency n ts e ghth year and show ng tt e s gn of end ng many a d agenc es are th nk ng beyond ust emergency a d and cons der ng how best to foster and mprove ong-term deve opment and res ence-bu d ng efforts “The government s tack ng the cr s s on severa fronts not ust hand ng out food parce s ” sa d A ak a “We are focus ng on rebu d ng ent re commun t es so that peop e can go back to the r homes obs and resume the r ves as norma ”

D AY

08111813081

May have added in Abuja.... element to the another bearish market,” Reuters Crude oil prices quoted hitting their lowestfell yesterday, based analysts at JBC Energy, in Vienna, in 11 days as a United States More barrels as saying. Government could be on their report way said shale oil output in May to the market from U.S. shale expected to post was fields as the increase in more biggest monthly investing financial companies are than two years. Gboyega billions in production, At a time when a Akinwale Akinsanmi and the Organisation Reuters analysis showed. by hanging of Petroleum Akintunde Members of the Exporting Countries 2007, for the on January 11, (OPEC) and oil production OPEC are cutting Lagos He murder of said by 1.2 million church nations have other producing from State his previous administrations member, Ann Government bpd Jan. been Uzoh. did not sign would definitely ensure Subseque output, governmen trying to cut reduction1 for six months, the first yesterday said it is not justice was done afraid sentence ntly, his death death warrants of the that of taking tough in eight years. showed US shale t drilling data convicts of on decisions on The Kudirat Abiola. the murder the the Court was upheld by on the death row, noting month was set production next UnitedEnergy Minister of the General Overseer of the governor that of Appeal to Praying Assembly Christian the Arab Emirates Al-Mustapha has the prerogative and whether barrels per day rise to 5.19 million he Supreme Court. was allegedly said (CPA), saw healthy (bpd). fingered in to sign their oil demand Chukwuemeka Ezeugo Mr. Since the the murder Reuters reported death late growth this of the (a.k.a. apex court warrant or not. Kudirat Abiola, year and believed Rev. King), and other that shale output from inventories but he won “A lot of people condemned rejected his appeal, however, the Permian the case in the prisoners in would fall, the administr the country’s play, would Court of Appeal. the row. Rev. King are on death However, but it largest shale take more Likewise, the state. is not the only region, not yet signed ation has one. was expected the It is on to reach a record rebalance the market. time to said it had state government warrants had given the Supreme Court the death 2.36 million bpd. appealed the state governmen of Ambode the instruction to nod He said “conformity of Ezeugo 12, 2013, judgment July t that I visited to re-open the and prisons Global benchmark ” within OPEC and other the of the Court other condemned prisoners. case. recently and Kudirat was Brent crude producers was of Appeal which discharged futures fell 11 cents, But at the I discussed a wife of the presumed winner and acquitted trading at $55.25 improving and that conference the issue of condemned yesterday, the a barrel, while the UAE inmates 12, with the prison Maj. was complying of the June Brent 1993, presidentia 100 per cent with al-Mustapha of the Hamza said the state attorney-general officials . intraday, its lowest touched $54.76 its pledge “We l election, governmen late Chief Moshood are moving of Alhaja Kudirat murder not to cut production. US West Texas since April 7. afraid of taking t was direction in that Abiola. Kashimawo OPEC leader, Abiola. of taking decision Intermediat The She was crude futures T H I D AY e tightened February Saudi Arabia, General State Attorney- decisions, noting that tough on the condemne allegedly murdered it had The cent• TUEDAY started reviewing crude oil exports d $52.66 a barrel, roseSone and Commissi to to the lowest APRIL prison officialsprisoners. Mohamme by Al-Mustapha, with their intraday oner of condemne the issues since19, mid-2015, 2017official for Justice, Mr. low as $52.14, said we Shofolahand Abacha and Lateef need to look data showed d prisoners Kazeem, disclosed Adeniji the at it seriously. yesterday. since April 7. also the weakest in number state. A two-count who were on a A preliminary this at of them a ministerial Reuters Kazeem said The US Energy news conference have exhausted on death row conspiracy criminal charge of Information showed analysts expected poll he addressed he had their already Administration and appeals murder. alongside his and something visited prisons to show data The state governmen must be done in state on the combined 124,000“estimates for a in the US crude oil stocks fell information and instruction the about them . But strategy t urged week to April the apex court counterpa barrels-per-d of the from you state Governor, growth in US to uphold and shale production ay on a surprise decline 14, building Ayorinde rt, Mr. Steve us very soon. will hear restore the Ambode, and Mr. Akinwunmi tell over week. . the previous you the exact I will not by hanging, death sentence the state was A Lagos High seriously considering date.” which a On Major Court sentenced action Hamzat Al- High Court awarded Lagos Ezeugo to had on the cases of the against al-Mustaph death prisoners. condemned Mustapha, Kazeem said a, former the state Security government had Officer (CSO) Chief case, saying the re-opened the late to the Head of State, state government General Abacha on January 30, Sani 2012.

BUSINESSW Prospects for Nigeria, Others ORLD Business confidence in Nigeria and other economies around the globe rebounded in the first quarter of 2017 and is now at its highest level since the second quarter of 2015, according to the latest edition of the Global Survey Show s Economic Conditions Survey. Prospects for Positive Economic Nigeria, Ot hers Page 23

The devastat on wrought by Boko Haram wh ch has eft m ons of peop e n northeast N ger a on the br nk of fam ne cou d exacerbate Europe s m grat on cr s s f the wor d fa s to act urgent y the countrys ch ef human tar an coord nator has sa d Near y five m on peop e n the reg on are desperate y hungry and r sk starv ng to death th s year f they do not rece ve food a d accord ng to figures from the Un ted Nat ons Th s cou d dr ve even more N ger ans to flee the country and attempt the per ous ourney to Europe v a the Med terranean Sea un ess the nternat ona commun ty ramps up support and funds sa d Ayoade A ak a N ger a s human tar an coord nator “W th so many peop e fac ng fam ne th s s the wrong t me to cr t c se us and s mp y say You are the g ant of Afr ca “The wor d cou d see a mass exodus from a country of 180 m on peop e f support s not g ven and fast f peop e fac ng fam ne fa nto fam ne ” she to d the Thomson Reuters Foundat on n an nterv ew n the Senega ese cap ta of Dakar Wh e the European Un on has been stra ned by the nflux of 1 6 m on refugees and m grants between 2014 and 2016 a greater number of peop e n northeast N ger a some 1 8 m on are d sp aced and unab e or unw ng to go home A ak a added

2017 • T H I S

Davidson Iriekpe

daylive.com,

After Three Years, Osun Assem Finally Unvei ls Aregbesola’s bly Commissione rs

BUSINESS Survey Shows Positive Economic

Malnourished children in an IDP camp in Borno

News Editor

n.iriekpen@this

President Muhamma du Buhari’s performance rating has increased Plan, and the Central by five points, Bank of Nigeria according to a poll in the (CBN) policy intervention 2017. conducted by foreign exchange NOIPolls. NOIPolls geo-politica The results of market, marginal also revealed that among others. the North-east l zones and the was made public,the poll which increase was zone with 31-points per cent), and NOIPolls revealed laudable had but massive the rise was due indicated that the the highest of the economyworsening state nationwide five-point increase,that with to be made inroads still have proportion (15 Nigerians in return from to the president’s job in terms of sample. 1,000 Buhari’s performance this category. of reasons for their per cent) as randomly medical disapproval. evaluation for inflation and poverty ratescurbing Economic Recovery leave, his the selected Nigerian Findings revealed These are some month of March which rationale still remain and Growth that the of the key Phone owners aged 18 the highest 2017 now stands at 55 reason president’sfor approval of the findings from the governance and above, representin years per cent in March, for disapproval of g the six geopolitical zones job performanc the president’s centred job performance was poll conducted by NOIPolls e. in the country, the week which around the in were interviewed It added perceived commenced slight on government that Buhari’s goods reduction in the prices of March 27, 2017. “With a sample. and services of this size, These results we can say the adequate must focus on improved (25 per with 95 per level of security cent), 22nd approval represent the confidence cent of recommendimplementation cent), (20 per rating in a that the results obtained are by the Economications outlined in the and slight improvement monthly series of governance statistically precise economy (15 polls conducted Recovery and within Growth Plan – per cent) ,among other to ensure sustainable to gauge the by NOIPolls three a range of plus or minus reasons. economic growth per perceptions cent,’ Yinka Kolawole Conversely, it Nigerians and national of development. NOIPolls is said. in Osogbo respondents 35 per cent of the performancregarding the job Mr. Bola Ilori, who disapprove polling firm the foremost e of the president. NOIPolls also former Special of his job performanc Three years d for countryAdviser on According to after the president’s said the rise in general e, reported Environment NOI, the public specific polling services in for a second he was sworn Sanitation job opinion hardship performanc and term in office, West Africa. poll was conducted rating was seen in . and e Osun State House the It conducts across the six poverty rate (40 per cent), high the week commencin in periodic The list also include former cost of goods high 27, 2017. opinion polls yesterday announcedof Assembly Commissio g March and services and the names of ner commissioners (25 interviewsIt involved telephone studies on various and Industry, for Commerce and special advisers socioeconomic of a random nominated by and Jayeoba; former Mr. Ismaila the in Nigeria. political issues Commissioner Rauf Aregbesola, state Governor, for Women and Social Affairs, to the assembly and forwarded Mrs. for confirmation Folake Adegboye The Speaker ga; of the state House. former Commissio of Assembly, Hon. ner for Local Najeem Salam, Government and Chieftaincy who read Aregbesola Affairs, Mr. Kolapo Alimi, ’s letter on the new cabinet and appointments, former Assistant Chief said the governor of Staff, forwarded Mr. Gbenga Akano. 39 names Others are parliament to the state Akinajo, Akintunde for as commissio confirmation MuhideenYidiat Babalola, Mr. ners and special Olateju, Mr Mudasiru advisers. Toogun, Mr. Kunle But the speaker Oyebamiji, Mrs. Ige, Mr. Bola did not Mrs. Taiwo Oluga, specify those Latifat who made commissionership the Adegboyeg Giwa, Mrs Tohun appointmen a, Dr. Rafiu likewise the special advisers. ts, Mr. Bola Oyebamiji, Isamotun, Mrs. However, Taiwo Oluga, prominent amongsources said Tohun Mrs. Latifat Giwa, Mrs Adegboyega are Mr. Adelanithe appointees Isamotun. and Dr. Rafiu Baderinwa who is the On the list also former Chief, are: Dr. Olalekan Press Secretary to former Yinusa, Mr Babatunde Ibirogba, governor Mr. Femi Popoola, Bisi Akande; Dr. Basiru Mrs. Yemisi Ajibola, former Akinola, Mr. Remi Commissioner Kolajo, Mr. Tunde Integration and for Regional Mr. Ajilore, Mr. Kazeem Salami, Opatola Rasheed Remi OmowaiyeSpecial Duties; Mr. Olajide, Bisi Special Adviser ; former Senior Obawale, Odewumi, Dr. Adebisi on Electronic to the governor Gbenga Dr. Gbenga Oyinlola, Dr. Broadcast and Awosode and Mr. Adeola Tejumola.

20.3309% 21.7643%

EXCHANGE RATE N306.05//1US DOLLAR* *AS At LASt FRIDAY

Quick Takes

Fidelity Bank

With the emergenc to Give Out N31m y of another monthly draw set of millionair in Promo in es at the seventh savings promo, the ongoing Fidelity Bank well as several the bank said it has N31 Plc’s ‘Get-Alert-I n -Million’ months of the consolation prices to givemillion more to spend out in the remaining as office in Lagos promo. At the draw conducte recently, cash d at the bank’s two won by customer prices s of the bank. and 12 consolation prices head Izuchukwu of In the cash category, were Mercy Azih Enuowa branch, Lagos Egwuonwu of Minna branch, zone, included: Shedrach North zone, won N3 million, while won N2 million. Trinity Eunice,South South zone; Ovat, Abuja zone; Ndor Others zone; and Adams Amarachi Edith Ifeyinwa Okonkwo Jamiu Alade, South Also, 12 consolati , South East West zone, on prices of N1 million won by 12 customer fridges and generator sets each. s of the bank draw, the bank in the zones. were stated that At the million and 84 consolati it had given out a total end of the on prices of over 128 winners. fridges and cash of N74 generators promo, General Speaking to journalist to s Manager, on Fidelity Bank, Small and Medium the essence of the own promise Mr. Ken Opara, said the exercise Enterprises (SME), of rewarding was to keep the bank, adding their loyal customer to their s for saving inclusion. “We that most importan with tly, investment, think that saving is a very it was to build financial and if you don’t important ingredien anything for t of the rainy day. save you then will not be able to have

Union Bank

Wins

Union Bank said Award in the maiden it emerged winner in the “Best Rebrandin edition of the (CCA) held recently. Corporate Commun g” category The CCA ications Awards achievements in Nigeria’s is aimed at celebrating The event brought Corporat outstanding together eminente Communications of celebratio industry. personali n, emerged winnerfine music, and networkin ties for an evening g. Union Bank professionals, via nominations by said it Obinna Chima corporate communi of the Advisorypublic voting as well as cation deliberations Board which corporate by comprise Business confidenc communic ECONO MY d of experts members ation and the identity, which in the media, e in Nigeria to loosen monetary academia. The and other economie bank’s new brand policy.” two internatio was unveiled in October It noted the globe rebounde s around and to create more 2015 has previousl nal Gold awards that improvin the outlook 2016 d in the first economic jobs for at quarter of 2017 y won g ‘Best the and raise is positive, Transform capital sentimen Brand Developm even though / Vision / Positionin ent to Reflect Awards MENA growth is likely world had been t across the 16% andexpenditure (up from highest level and is now at its to remain spearheaded Changed Mission 14% respectiv Services Sector’. g’ and ‘Best Visual by an quarter of since the second standard relatively weak by Identity from Q4 2016). ely in The Head of 2015, according the outlookincreasingly confiden municatio the s Corporate of Financial the the latest edition t n, Ogochukw past to in Affairs & In response u Ekezie-Ek exercise for of the Global The GECS survey decade. and reflectedNorth America to the Economic Conditio aidem, who Corporate ComUnion across leading Head of Business report, the led the rebrandin Communications Bank said: “To be recognise ns Survey. confidence is at its shows developed The quarterly Awards for the highest markets. and emerging ACCA, Faye Chua insights at rate since the d by the Corporat g survey validation rebrandin of chief finance second global of said: “The of the hard US economy 2015, with governme quarter officers work that went g of the bank is a fantastice execution of has maintaine In particula finance profession (CFOs) and ing, our into elevated level nt spendemployment of Union Bank’s new identity. Our brand the development and of confidenc d an showed that r, the reported Q4 by the Associatio als, conducted expenditu and e from identity overall transform had in 2016, with a more contempo n of Chartered re indices all capital rate of growth been the fastest firms 37 per cent ation and our is a critical piece Certified Accounta risen in since rary and energetic of in global trade feeling goal was our authentic nts (ACCA) the first quarter. and the Institute 2015. although theremore confident, ity and key elements institution while to depict “A key reason maintaining Yet the survey was no uplift Accountants of Management improvem of the brand for (IMA), has 36 heritage.” found that from the previous Applications ent in confidencthis inflationary that the prospects found quarter. An expectati fears were putting for Mastercard’s Mastercard for Africa the recovery in oil prices e is pressure on looked positive. is infrastructuralon of increased global economie Initiative Open other commod and with 2017 class, thecalling for applications spending s, nearly half ities, which The acting for its next Start company’s (46%) of firms tax cuts has contribut and in Head of ACCA turn has helped later-stage Nigeria, Olatunji to lift export reporting increasin startups, who global initiative to supportPath Global a buoyant ed to and The programm are reshaping business mood cause for concern. g costs as a even innovative commenting Adeleye, while key government revenues though , for economies such world, who are e is open to startups the future of commerc Despite this, said: “Marketson the survey Another e. materialise they are yet to as Nigeria. rethinking banking from T H Africa it I S D AY further and•across a across into significan influence that there stated WEDNES policy. have been Africa ing and payments the t seed or Series “Inflation performing inflationary has been eas- improvem were significan and have raised DAY, APRIL 19, 2017 According to A and currency pressures, which better has t fluctuatio ents for a statemen round of investment. given central ns, however, ensure the continent t, focus is being banks scope ment and investme employare a placed is Acting well corners nt, on Africa to 22 per cent represen with Featur of Africa ted, of firms planning es Editor Continued the six-month encouraged to submit with startups : Charles Ajunw on page 24 virtual programm their applicatio from all Emaile, charle with the operation n. During a Start s.ajunw a@thisdayli need to develop al support, mentorsh Path provides startups Goddy Egene ip, and investme the next generatio ve.com grow their operation nt they n of commerc s. Selected companie e solutions and the knowledg Amidst the e of s a further global bearish ECONO MY to Masterca network of Masterca benefit from Investors trend at the stock market, rd customer in Beta rd experts, s and partners brands spanning capital growth Company Glass analysts recorded by including global access Plc banking, retail, Nigerian Bureau are also not to innovate highest return recorded the that corporate at the end of some companies (NBS) on top of Masterca tech and telecoms of stocks of UBA surprised of 46 per cent, , and the ability “Fintech startups released the Statistics followed rd solutions beat inflation first quarter (Q1) rate and Stanbic recorded positive by Airline inflation . figures Vice President around the world are Services growth in Q1 investors positive and fetched per for March, it was 17.26 and Logistics Plc designing a , Mastercard with 42.4 per given their financial cent, meaning digital future,” return on their Start Path, Amy investments. 2016. Both financial results for that most cent. Those in United investors in Neale While the Nigerian Bank for said. the stock market Africa Plc (UBA) Stock Exchange institution recorded high are counting witnessed profit growths losses. However growth of 28.2 Index, which (NSE) All Share THISDAY per cent, whilea compared to , Okomu checks revealed other banks. gauge for theis the benchmark some Oil Stanbic IBTC The current of the investors that investors Palm Plc fetched its recorded a growth practice performance equities market witnessed 24.4 per of 51 per cent whereby the have ended the Q1 in CBN is the positive returns IBTC Holdings cent. Stanbic that a decline of with on sole driver of UBA rose profit while Plc 5.1 of the FX market by 32 per cent. of the other per cent, most the their investments amidst March with 20 per ended the The Group Managing is not sustainab rampaging cent, which is higher than recorded worst sectoral indices investors bears. Director and Chief Executive economy can’t le. The the recorded returnsThese Some market inflation rate. UBA, most of the decline. Similarly, are Officer of depend only afford to operators said Kennedy Uzoka, that stocks with some recording are in red, rate, higher than the inflation more stocks would attributed had supplies fromon the FX meaning that provide the impressiv positive depreciate the CBN. We above 30 per need other cent. When d recording positivethey are still once the returns to investors results to focus on operation e sources of FX the their operating environm efficiencies. supply al investments. returns on improves ent following “Given the by the governm efforts operating ent. Market

CITYSTRING S

Stocks Inve stors

In the time past, it was a common thing for somebody driving along some major roads and streets in Akure, the Ondo State capital particularly at weekends to run into road blocks temporarily mounted by residents that are celebrating one form of event or the other. Page 36 I

Facelift for A kure

Beat Inflation

amidst Bear ish Trend

Akure, the Ond o State capit the once sleep y city, writes al, is undergoing a major facelift James Sowole certain to

Amazing Event

Continued on page 24

reinvigorate life in

Director General

Muda Yusufof the LCCI

Hall on Akure-Oda

n the time thing for past, it was a common somebody some major driving along school activities roads and streets particular are moves the Ondo in Akure, by the state ly on Fridays there State capital into other at weekend particularly the use of school facilitiesgovernment to use apart s stop made The governm from what for social activities. temporarily to run into road blocks for. ent has they were mounted by are celebratin In Lagos whichever residents that the schools playgrou also been noting g one form points one that holding State, the governme of event or nd were being The blocking enters, nt had outlawed these centres the other. of events of roads turned which done without are sited in the state capital, and streets one enters some other in school premises various sizes. considera are vehicle to states are considerin and Technolo from the Federal As Apart from move in time tion on the need for g now. 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Also, freedom event Road in events had to the outskirt are located along Oda are limited to use give approvallocal government encou been This of One major in hotels. authorities the town. is also raging people as a means s to blocking of street owned by the case in some event is that they feature of modern event who churches sometimes of generating revenue roads have the where centres restricted as celebrant centres with modernare air-conditioned it is done withal while from serving s were and fitted for certain as public address ceremonies. alcohols during In some cases personalities a mark of respect to build event system. prominent centres in The choice centre, dictate those who hire person in an particularly when a particular a Akure, the Ondo confirmation area dies or the colour depends on of a particular centre cover, celebrating capita of State to use ownerswhich are chargedof table and chair However, thingschieftaincy titles. be hosted. budget and the type l.These centre together while In of some event of have changed as people have are usually many cases, wedding event to catering s are centres also for the better not built services for receptions by only individ locked event embraced the use provide while burial held in a closed event their customers on the agreemen centres including of open and as govern ceremonies depending centres of public t. are held mostly ment agenci uals open fields. However playground One major primary and advantage to host their secondar in centres and church specifies which , there es of es, too type of placeis no law that event is the ability of using closed event playground events. The use y schools for his or of schools’ event the organiser has now one can use to control her centres as have internally generated become WEDNESDAY s of entry into The embrace event. event unlike the venue APRIL 19, 2017a source of revenue for a source of genera that have to host their of decent and convenien of control can in the case of open place • T H I S D AY those ting facilities to revenu t places be difficult. event. In the accommodateschools These where people who events had been encourag e. Another advantag time past, such centres, which were held ing event centres have the wherewit in assembly wedding receptions of differe hal to build modern event centree derivable from using are schools. halls of secondar These centres in Akure, the Ondo is that it is place for hosting nt sizes State a one stop capital. y are and make Observing ceremoni as governm are not built by only located in variou that the individuals conventional and traditionaes. Unlike in playgroun the have event ent agencies and churches organisers do d had been use of public schools of the s parts l place of centres as not disrupting , too for metropolis a source of revenue. the normal place to rent need to bother about event, 49 generatin and outskirts looking in the chairs, tables, g as organisers These centres, canopies just which are and make disrupting need not to bother about of different are their sizes one storms the metropol located in various uses open event that can happen is and in parts of centre. email:fore if igndesk@ the outskirts However, . From centres the establishm thisdaylive.com ent of in Akure had been attracting event com-

INTERNATIONAL Suici Pence: US Won’t Rest Until N. Korea

Gives Up Nuclear Weapons The U.S. will not relent until it achieves its objective of ensuring the Korean Peninsula is free of nuclear weapons, Vice President Mike Pence saidTuesday while visiting Japan. After meetings with Prime Minister Shinzo Abe and other leaders... Page 49

SPORTS UCL: Rona UCL Ronaldo doH Hits tsCenturyGoa Century Goal Mark

INTERNATIONA L

ici Pence: US Nuclear Weapo Won’t Rest Until N. Kor ea Gives Up ns

The U.S. will not achieves its objectiverelent until it Mike Pence said Tuesday the Korean Peninsulaof ensuring visiting while leaders, Japan. is free of Pence nuclear weapons, After meetings that President told reporters Peninsula,” Vice President he said. Minister Shinzo with Prime was confident Donald Trump The Trump Abe and other said. “We are with that administrati diplomatic pressureeconomic and has signaled you 100 percent.” On Monday, a more forceful on has a chance of compelling Pence traveled and Australia, said Trump U.S. to the stance toward North Korea hopes cooperate. to missile tests North Korea’s recent dividingtense Demilitarized Zone China will use its leverage to get its and threats, including longtime ally North North and South “It is our belief a warning Korea, Korea where together the family by bringing Korean from Trump that North leadershe warned North Korea’s up its nuclear weapons to give leader Kim Jong Turkey’s prime and ballistic missiles. program that after years diplomatic and of nations with “gotta minister on Tuesday Un has the behave.” economic pressure called on the opposition U.S. and South of testing In Beijing, Chinese The opposition So Pence struck has listed a we have a chance of achieving its nuclear ambitions,Korea with Minister Foreign the result of a referendumto respect series of a stern tone Wang freeze a irregularities, “the era of that will been give sweeping but has Pence on the Korean Peninsula,” arriving at a U.S. naval base after strategic patience appeal for calm.Yi made a fresh particularly outraged new powers to is from said. South Korea. A senior North over.” office of the president, the an electoral Wang told by Korean official “We will not but the main reporters that board decision “We appreciate opposition party although announced the challenging then accused the United States not relent until rest and will times in formally bringing the countries of made clear U.S. officials have which the people the vote be annulled. requested ballots that late Sunday to accept we obtain the objective of a denuclearized of Japan of that a military didn’t bear the to live the with brink increasing provocation thermonuclear strike Sunday’s vote official remains a possibility, stamps used Korean from war. to verify they s he believes across the Sea Pence, on a 10-day Recep Tayyipgave President genuine, that Washington are of Japan,” he as required by Asia trip that would still Erdogan’s will also take Turkish law. “yes” camp Monitors from him to Indonesia to de-escalate tensions prefer a narrow win the Organization through constitutional for Security multi-sided talks. for and Cooperation changes that will abolish the office in Europe, of the prime who also listed numerous problems, minister and said the move undermined convert system of governmen Turkey’s election important British safeguards. Prime Minister t from a parliamentary That drew a harsh Theresa her May called to a presidential work on Brexit. one. Erdogan and criticismrebuke from early electionon Tuesday for an Some were surprised for the pound. from Prime on June 8, saying Bulent Tezcan, Minister Binali she needed to by her move - she has Yildirim. deputy strengthen her chairman of The stronger days walking repeatedly said “Efforts to cast hand does the opposition in Wales with she push down pound helped to husband, a shadow on in divorce talks with the European not want to Republican my Union thought about People’s Party, the result of the vote by time-consuming be distracted by index, whichBritain’s main share and this long or CHP, said spreading her by shoring up support rumors of fraud campaigning hard, was and for headed the Brexit came but opinion polls to for the that plan. a formal request party filed vain,” Yildirim are futile and in give her a strong biggest one-day drop to provide that the decision Standing since seeking the lead, said. “The will referendum be the people was of Street office,outside her Downing the the economy is weathering 27, days after Britain voted June certainty for the stability and annulled due freely reflected future that this to leave was Brexit vote and the EU. May said voting irregularities to into been the way to . He said the the ballot boxes and this business reluctant about she had opposition from she has faced party would “It was election,” she do it, to have an over. Everyone use told ITV news. and all sections is parliament to back her asking for some of her her own party decided with reluctance that I to challenge the all legal paths and the domestic reforms. the country needs Britain — bring move to main opposition vote. Sterling rose this European joins a list of western election, party in But, forward the poll from 2020. “We demand particular— countries scheduled after thinking high against to a four-month convictionbut it is with strong hold of this referendumthe cancellation is wrong must show respect. It to that I say elections this during a walking “long and hard” the market the U.S. dollar after to to speak ,” Tezcan said. year. Votes in secure the strongit is necessary France in holiday in bet that May have spoken.” after the people decided April and May, would and stable it was necessary Wales, strengthen her and in Germany in to try to parliamentary leadership the country needs stop the opposition see us through to potential September, have the “jeopardising” majority, which Deutsche Brexit and beyond,” to reshape Bank May said would be said. landscape around the political a “game-chan ger” the two years of “Before Easter I spent a few Brexit talks with the EU expected to start in earnest in June.

Turkey: Main Opposition Party Files for Refere ndum Annul ment

British PM May Strengthen Brex Calls for Early Election to it Hand

WEDNESDAY

SP UCL Rona do ORTS as Atletico Ends Leicester Fairytale H as A e co En Cen u y Goa Ma k Christian Chr st anRona Ronaldo dowastheheroofthe was the hero of the ds Le ces e Fa yae night with a hat trick as he led Real Madrid to subdue 10-man Bayern Munich in a 4-2 score line at the Santiago Bernabue.The current World footballer of the year thus became the first player to reach 100 Champions League goals... Page 55

WEDNESDAY APRIL 19, 2017 • T H I S D AY

NEWS

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

NOI Polls: Buhari’s Performance Rating Rises by Five Points

President Muhammadu Buhari’s performance rating has increased by five points, according to a poll conducted by NOIPolls. The results of the poll which was made public, indicated that the rise was due to the president’s return from medical leave, his Economic Recovery and Growth

Plan, and the Central Bank of Nigeria (CBN) policy intervention in the foreign exchange market, among others. NOIPolls revealed that with the five-point increase, Buhari’s job performance evaluation for the month of March 2017 now stands at 55 per cent in March,

After ThreeYears, Osun Assembly Finally Unveils Aregbesola’s Commissioners Yinka Kolawole in Osogbo Three years after he was sworn in for a second term in office, the Osun State House of Assembly yesterday announced the names of commissioners and special advisers nominated by the state Governor, Rauf Aregbesola, and forwarded to the assembly for confirmation. The Speaker of the state House of Assembly, Hon. Najeem Salam, who read Aregbesola’s letter on the new cabinet appointments, said the governor forwarded 39 names to the state parliament for confirmation as commissioners and special advisers. But the speaker did not specify those who made the commissionership appointments, likewise the special advisers. However, sources said prominent among the appointees are Mr. Adelani Baderinwa, who is the former Chief Press Secretary to former governor Bisi Akande; Dr. Basiru Ajibola, former Commissioner for Regional Integration and Special Duties; Remi Omowaiye; former Senior Special Adviser to the governor on Electronic Broadcast and

Mr. Bola Ilori, former Special Adviser on Environment and Sanitation. The list also include former Commissioner for Commerce and Industry, Mr. Ismaila Jayeoba; former Commissioner for Women and Social Affairs, Mrs. Folake Adegboyega; former Commissioner for Local Government and Chieftaincy Affairs, Mr. Kolapo Alimi, and former Assistant Chief of Staff, Mr. Gbenga Akano. Others are Akintunde Akinajo, Yidiat Babalola, Mr. Muhideen Olateju, Mr Mudasiru Toogun, Mr. Kunle Ige, Mr. Bola Oyebamiji, Mrs. Taiwo Oluga, Mrs. Latifat Giwa, Mrs Tohun Adegboyega, Dr. Rafiu Isamotun, Mr. Bola Oyebamiji, Mrs. Taiwo Oluga, Mrs. Latifat Giwa, Mrs Tohun Adegboyega and Dr. Rafiu Isamotun. On the list also are: Dr. Olalekan Yinusa, Mr Babatunde Ibirogba, Mr. Femi Popoola, Mrs. Yemisi Akinola, Mr. Remi Kolajo, Mr. Tunde Ajilore, Mr. Kazeem Salami, Mr. Opatola Rasheed Olajide, Mr. Bisi Odewumi, Dr. Adebisi Obawale, Dr. Gbenga Oyinlola, Dr. Gbenga Awosode and Mr. Adeola Tejumola.

Oil Prices Fall to 11-day Low on US Shale Output Surge Ejiofor Alike with agency reports Crude oil prices fell yesterday, hitting their lowest in 11 days as a United States Government report said shale oil output in May was expected to post the biggest monthly increase in more than two years. At a time when the Organisation of Petroleum Exporting Countries (OPEC) and other producing nations have been trying to cut output, government drilling data showed US shale production next month was set to rise to 5.19 million barrels per day (bpd). Reuters reported that shale output from the Permian play, the country’s largest shale region, was expected to reach a record 2.36 million bpd. Global benchmark Brent crude futures fell 11 cents, trading at $55.25 a barrel, while Brent touched $54.76 intraday, its lowest since April 7. US West Texas Intermediate crude futures rose one cent to $52.66 a barrel, with their intraday low as $52.14, also the weakest since April 7. The US Energy Information Administration “estimates for a combined 124,000 barrels-per-day growth in US shale production over

May have added another bearish element to the market,” Reuters quoted analysts at JBC Energy, based in Vienna, as saying. More barrels could be on their way to the market from U.S. shale fields as financial companies are investing billions in production, a Reuters analysis showed. Members of the OPEC are cutting oil production by 1.2 million bpd from Jan. 1 for six months, the first reduction in eight years. The Energy Minister of the United Arab Emirates said he saw healthy oil demand growth this year and believed inventories would fall, but it would take more time to rebalance the market. He said “conformity” within OPEC and other producers was improving and that the UAE was complying 100 per cent with its pledge to cut production. OPEC leader, Saudi Arabia, tightened February crude oil exports to the lowest since mid-2015, official data showed yesterday. A preliminary Reuters poll showed analysts expected data to show US crude oil stocks fell in the week to April 14, building on a surprise decline the previous week.

2017. NOIPolls also revealed that the marginal increase was laudable but massive inroads still have to be made in terms of curbing inflation and poverty rates which still remain the highest reason for disapproval of the president’s job performance. It added that Buhari’s government must focus on the adequate implementation of recommendations outlined by the Economic Recovery and Growth Plan to ensure sustainable economic growth and national development. NOIPolls also said the rise in the president’s job performance rating was seen across the six

geo-political zones and the North-east zone with 31-points had the highest proportion of Nigerians in this category. Findings revealed that the rationale for approval of the president’s job performance was centred around the perceived slight reduction in the prices of goods and services (25 per cent), improved level of security (20 per cent), and slight improvement in the economy (15 per cent) ,among other reasons. Conversely, 35 per cent of the respondents who disapproved of his job performance, reported general hardship and high poverty rate (40 per cent), high cost of goods and services (25

per cent), and worsening state of the economy (15 per cent) as reasons for their disapproval. These are some of the key findings from the governance poll conducted by NOIPolls in the week which commenced on March 27, 2017. These results represent the 22nd approval rating in a monthly series of governance polls conducted by NOIPolls to gauge the perceptions of Nigerians regarding the job performance of the president. According to NOI, the public opinion poll was conducted in the week commencing March 27, 2017. It involved telephone interviews of a random

nationwide sample. 1,000 randomly selected Nigerian Phone owners aged 18 years and above, representing the six geopolitical zones in the country, were interviewed. “With a sample of this size, we can say with 95 per cent confidence that the results obtained are statistically precise – within a range of plus or minus three per cent,’ it said. NOIPolls is the foremost polling firm for countryspecific polling services in West Africa. It conducts periodic opinion polls and studies on various socioeconomic and political issues in Nigeria.

NORTHERN LEADERS VISIT ASO ROCK

L-R: Vice President, Prof. Yemi Osinbajo, leader of the Arewa Consultative Forum (ACF) delegation, Alhaji. Liman Musa Kwande; ViceChairman, ACF, Senator Abubakar Girei; and Ambassador Adamu Mohammed, when the ACF delegation visited the State House in Abuja.... yesterday

LASG: We are Not Afraid of Taking Tough Decision on Rev King, Others Finally reopens Al-Mustapha’s murder case Gboyega Akinsanmi and Akinwale Akintunde Lagos State Government yesterday said it is not afraid of taking tough decisions on the General Overseer of Christian Praying Assembly (CPA), Mr. Chukwuemeka Ezeugo (a.k.a. Rev. King), and other condemned prisoners in the state. Likewise, the state government said it had appealed the July 12, 2013, judgment of the Court of Appeal which discharged and acquitted Maj. Hamza al-Mustapha of the murder of Alhaja Kudirat Abiola. The State AttorneyGeneral and Commissioner for Justice, Mr. Adeniji Kazeem, disclosed this at a ministerial news conference he addressed alongside his information and strategy counterpart, Mr. Steve Ayorinde. A Lagos High Court had sentenced Ezeugo to death

by hanging on January 11, 2007, for the murder of his church member, Ann Uzoh. Subsequently, his death sentence was upheld by the Court of Appeal and the Supreme Court. Since the apex court rejected his appeal, however, the administration has not yet signed the death warrants of Ezeugo and other condemned prisoners. But at the conference yesterday, the attorney-general said the state government was not afraid of taking tough decisions, noting that it had started reviewing the issues of condemned prisoners in the state. Kazeem said he had already visited prisons in the state on the instruction of the state Governor, Mr. Akinwunmi Ambode, and the state was seriously considering action on the cases of the condemned prisoners.

He said previous administrations did not sign death warrants of the convicts on the death row, noting that the governor has the prerogative whether to sign their death warrant or not. “A lot of people are on death row. Rev. King is not the only one. It is on the instruction of Ambode that I visited the prisons recently and I discussed the issue of condemned inmates with the prison officials . “We are moving in that direction of taking decision on the condemned prisoners. The prison officials said we need to look at it seriously. A number of them on death row have exhausted their appeals and something must be done about them . But you will hear from us very soon. I will not tell you the exact date.” On Major Hamzat AlMustapha, Kazeem said the state government had re-opened the case, saying the state government

would definitely ensure that justice was done on the murder of Kudirat Abiola. Al-Mustapha was allegedly fingered in the murder of the late Kudirat Abiola, but he won the case in the Court of Appeal. However, the Supreme Court had given the state government to nod to re-open the case. Kudirat was a wife of the presumed winner of the June 12, 1993, presidential election, late Chief Moshood Kashimawo Abiola. She was allegedly murdered by Al-Mustapha, Mohammed Abacha and Lateef Shofolahan who were on a two-count criminal charge of conspiracy and murder. The state government urged the apex court to uphold and restore the death sentence by hanging, which a Lagos High Court awarded against al-Mustapha, former Chief Security Officer (CSO) to the late Head of State, General Sani Abacha on January 30, 2012.

WEDNESDAY APRIL 19, 2017 • T H I S D AY

NEWS

Adeosun Calls for Global Support to Tackle Illicit Financial Flows Obinna Chima in Washington DC The Minister of Finance, Mrs. Kemi Adeosun, has called for greater collaboration to combat illicit financial flows from Africa in order to deliver sustainable economic growth in the region. Addressing the Global Parliamentary Conference which had in attendance parliamentarians from around the world, at the ongoing IMF/World Bank Spring meetings in Washington DC, the minister also stressed the need for strong executive and legislative collaboration. She reiterated that the federal government was focused on resetting the Nigerian economy by addressing its traditional over-reliance on oil revenues and establishing the basis for

sustainable non-oil revenue growth. “To improve non-oil revenues, we have to address illicit capital flows. When stolen money is transferred from Nigeria, or other African countries, there are too few questions asked by those countries that receive the funds, but when we identify those funds as stolen and seek to recover them, there are too many questions being asked. “There is money sitting in foreign bank accounts that we have spent over a decade trying to recover. That is money that could deliver significant value for Nigeria as we seek to increase spending on critical infrastructure and establish a basis for long term sustainable growth. “I hope that the Automatic Exchange of Information scheme

coming into force next year will be a step towards achieving greater transparency, but we need more collaboration amongst parliamentarians in Africa, and across the World to ensure that this situation improves and that recipient countries are held to account,” Adeosun added. Commenting on the domestic agenda to ensure significant reductions in ‘leakages’ of public funds, and improved efficiency in

public expenditure, the minister said the federal government had going after those who had stolen from government coffers. She said: “We have put in place a very successful whistle blower programme that is delivering results, and allows those who report illicit activity to receive up to five per cent of any funds that we recover. We are also significantly improving our financial management controls

to ensure that it is considerably more difficult for public funds to be diverted. “We have to do more though and that means collaboration with the legislature. We need tighter tax and financial reporting legislation and to ratify bilateral agreements so that our enforcement agencies are empowered to deliver the results that we need. “To create the basis for long

term growth, we need to invest urgently in our infrastructure. Achieving energy sufficiency and achieving agriculture and food security are two of the execution priorities we have identified in the Economic Recovery and Growth Plan and we are looking forward to advancing our ongoing conversations with multilateral lenders on these priorities over the coming days as we look to accelerate implementation.”

Three Robbery Suspects Burnt to Death in Benue George Okoh in Makurdi Three robbery suspect yesterday met their waterloo in Kwande Local Government Area of Benue State as angry youths stoned and burnt them to death The incident according to the Sole Administration of the area, Mr. Teryila Iorhemen, happened at a filling station located at the popular ‘Y’ Junction which is about 150 kilometres to the All Progressives Congress (APC) secretariat. Iorhemen said the robbers had stormed the petrol station asking everyone to lie face down while

the shot into the air. Another attempt to shot failed indicating that their bullets had finished. “It was at this point that the irate mob apprehended and burnt them beyond recognition before the police could arrive the scene. It has been observed that petrol stations in the area have been under incessant attacks by robbers which has made them to close as early as 8p.m. The Police Public Relations Officer (ASP) Moses Yamu who confirmed the incident said that investigation had commenced into the matter.

CIVIL SERVICE CHIEFTAINS

Lagos State Governor, Mr. Akinwunmi Ambode (middle); first Vice President, Association of Lagos State Retired Heads of Service and Permanent Secretaries (ALARHOSPS), Alhaji Muhammed Olagbaye (second left); Acting Head of Service, Mrs, Folasade Adesoye (left); former Head of Service, Mr. Adesegun Ogunlewe (second right) and member of ALARHOSPS, Mrs. Carlene Alaja-Brown, during the opening of the third edition of the ALARHOSPS summit in Alausa, Ikeja....yesterday

After Six Weeks of Closure, Abuja Airport Reopens Excitement as aviation chiefs welcome first international flight Communications minister, Shittu, among passengers Buhari commends govt agencies on re-opening airport Ndubuisi Francis, Omololu Ogunnmade and Kasim Sumaina in Abuja It was all smiles for officials of the Federal Airport Authority of Nigeria (FAAN), the Nigerian Civil Aviation Authority (NCAA) and staff of the Nnamdi Azikiwe International Airport, Abuja, as Ethiopian Airline touched down the rehabilitated runway of the airport at exactly 12:05 p.m. yesterday after six weeks of closure. The Airbus, with registration number A350, Xtral Wide Body (XWB), Star Alliance, which took off from Addis Ababa, the Ethiopia capital, landed in Abuja to the waiting hands of FAAN and NCAA officials. The Minister of State of Aviation, Hadi Sirika, who arrived earlier at about 11:16 a.m., reopened the airport, a day earlier than the scheduled date after the successful completion of the airport’s runway rehabilitation. Sirika, while addressing journalists, said he decided to reopen the airports yesterday since the runway rehabilitation had been completed on schedule. According to him, “Even

though the reopening date was supposed to be today, it was not bad to reopen a day earlier.” He stated that though, “April 19 was the due date for us to conclude and open the airport based on our programme of work, it does not mean we cannot open earlier. “We are able to deliver the project earlier than anticipated, so we can open it. It is natural that we open it a day earlier. Here we are today, set to achieve that target, and we achieved it! “We thank God for his guidance and we are happy as well as thank the president for his support. I also wish to thank all my colleagues who did it; the media and the Nigerian people for standing by us.” The minister commended Nigerians and air travelers for their resilience during the six weeks closure of the airport. While reacting, Dr. Albert Ikolo, who flew from Addis Ababa as one of the first set of passengers to land at the airport, commended the efforts of the Federal Government of Nigeria for a job well done. Also, Amland from India, who equally boarded the plane said:

“We are happy that the airport has been reopened once again. We came off very easily and very fast today unlike before. The landing was very smooth, and the aircraft, Ethiopian airline, was also good. I really like the way they welcomed us.”. The closure was to allow total refurbishment of the runway, which was in a bad shape. The state-of-the-art airliner, an Airbus A350-900, which took off from Addis Ababa, the Ethiopian capital, touched down at the Abuja airport precisely 12.04p.m. and taxied towards the arrival wing of the terminal building for the passengers to disembark. Among the passengers on board was the Minister of Communication, Mr. Adebayo Shittu, who was beaming with smiles as he alighted from the 343 passenger capacity aircraft. To welcome Shittu, other passengers and officials of the airline on arrival, were the Director-General, Nigerian Civil Aviation Authority (NCAA), Capt. Muhtar Usman; Managing Director, Federal Airports Authority of Nigeria (NCAA), Saleh Dunoma; Managing Director, Nigerian

Airspace Management Agency (NAMA), Capt. Fola Akinkuotu, and the Director-General, Nigerian Meteorological Agency (NIMET), Prof. Sani Abubakar Mashi, among others. As Shittu disembarked, he was overheard saying: “They should be given an award,” a veiled reference to relevant government officials for the record reopening of the airport earlier than April 19 earlier targeted. Shortly after the passengers disembarked, a short ceremony was held inside the first class cabin of the A350, with all the aviation parastatals chiefs and the airline officials present to formally welcome the newest and biggest aircraft to Nigeria. They later cut a cake and toasted to the safe arrival of the flight piloted by Captain Yared, and the resumption of scheduled flight with the newly-acquired aircraft. As the brief cabin ceremony was going on, already checked-in passengers to Addis Ababa were seen at the departure hall waiting to board. With yesterday’s flight in and out of Abuja, the A350-900 officially commenced scheduled

flights on the Addis Ababa-Abuja route. Commenting on the development, the Ethiopian Group CEO, Mr. Tewolde GebreMariam, said: “As a veteran pan-African airline, it has always been our source of pride to connect our beloved continent Africa together and beyond. “Our presence in Nigeria dates back to the 1960s, same time the Federal Republic of Nigeria got independence. We have always given our best to Nigeria at all times, both at good and challenging times, and we have been part of Nigeria’s historic growth and always consider ourselves as vital partners in the history and growth of Nigeria as a country.” He noted that the A350 is yet one of the landmarks in the airline’s 70 years “proud history; providing exceptional levels of luxury and reliability for a totally unique passenger experience. “Hence, with the reopening of Abuja airport, the extra features of our game-changing fleet, Airbus A350, will be awaiting for our esteemed Nigerian travellers. We shall continue to avail critical air connectivity options and connect

African countries together and far beyond.” Ethiopian Airlines currently operates 20 weekly flights to four Nigerian cities-Lagos, Abuja, Enugu and Kano-offering connectivity to its global network spread across five continents. Meanwhile, President Muhammadu Buhari yesterday commended the Ministries of Transport, Power, Works and Housing, security agencies, Kaduna State Government, the contractor, Julius Berger and others, for their commitment which led to the successful completion of work on the runway of Nnamdi Azikiwe International Airport, Abuja and its eventual re-opening 24 hours ahead of the time limit. Buhari in a statement by his Special Adviser, Media, Mr. Femi Adesina, said he looked forward to such display of inter-agency cooperation and efficiency in the operations of the entire federal government machinery. Buhari also thanked Ethiopian Airlines for cooperating with the Nigerian government during the period of the closure of the airport, describing it as a good example of intra-African cooperation.

WEDNESDAY APRIL 19, 2017 • T H I S D AY

NEWS

FG Targets 7% Growth in Mining Contribution to GDP Shola Oyeyipo and Segun James Despite huge potential, Nigeria has dropped among leading mining countries, the Minister of Mines and Steel Development, Dr. Kayode Fayemi, has said. Fayemi reassured the rest of the world, particularly major international players in the mining sector that Nigeria is ready to collaborate with all stakeholders to ensure that the sector contributes to the growth and development in the country. The minister, who appeared on ARISE News, a THISDAY Newspaper sister broadcast station yesterday, said the country is already taking some important steps in reversing the downward trend in the sector to open it up to investors and attain about seven per cent contribution to Gross Domestic Product (GDP). “At a time in Nigeria, power was only generated by the three mining companies. The railway that moved from Enugu to Port

Harcourt was largely to service the coal industry and these are thing we filtered, but Nigeria is still largely a greenfield as far as mining is concerned. That is why the opportunities are legion if we focus our energy on geological prospectivism; on organising the informal sector in mining; on putting enough access to finance in the hands of those embarking in the sector and generally ensuring that the business environment is conducive. “The roadmap is out. It has been approved by the Federal Executive Council (FEC) and the thrust of the roadmap is that government is going to be an enabler; we are not going to be an operator. We are going to provide a conducive environment for players to come into the industry and we will support them with a variety of incentives; tax breaks, predictable legal and regulatory environments, access to finance, access to tools for the small scale players and a clearly defined licensing regimes. These are the things we should

be able to do while we allow the payers in the sector to drive the industry,” he said. Though not shying away from the fact that the sector is yet to attain its pride of place in terms of its contribution to the GDP, Fayemi expressed great optimism that barring an unforeseen circumstances, the sector would soon begin to contribute significantly to Nigeria’s income. “Though the current share of the mining sector is still

abysmally low with 0.34 per cent of GDP, but what is interesting is that if you look at the last two quarters, it is mining and agriculture that are growing, clear direction in the offspring. With the emphasis at our disposal and all the facts that we have, by 2015 – about 15 years, we should be hitting seven per cent of GDP. We used to be five per cent. We believe we could be up to that if we provide the legal and regulatory environment.

Noting that while mining might not be one of the immediate sources of alternative sources of income to Nigeria, Fayemi said considering the attitude of the President Muhammadu Buhari to the mining sector and the policies readjustments being carried out, it would not take much longer before the sector begins to earn foreign exchange for the country. “President Buhari has always been passionate about

agriculture and mining, it is not a latter day fact for him, having worked in the oil sector himself as minister…if you look at our economic recovery and growth plan, we have said the trigger for inclusive growth is ensuring stability by aligning our trade policy with our monetary policy and with our fiscal policy. Two, increase expenditure in transportation infrastructure, road and self-sufficiency in energy and power sectors,” he added.

Armed Gang Kills ‘Straying’ Cop in Bayelsa, Seizes Rifle Emmanuel Addeh in Yenagoa An armed gang yesterday hacked down a police sergeant during a security patrol operation along the popular Alamieyeseigha Way in Yenagoa, Bayelsa State and escaped with his service rifle. The hoodlums reportedly attacked and killed the policeman in a relaxation spot close to the red light zone of the area, along Hospital Road, forcing many of the pubs to temporarily shut down. A source, who spoke in confidence said the policeman went to the pub with his rifle oblivious that some bandits were trailing him to collect the weapon from him. “After taking some bottles, the policeman stood up and went to the backyard to urinate. He was holding his rifle. But the criminals also followed

him to the backyard where they attacked and killed him. They fled with his gun,” the source said. It was gathered that the police later stormed and raided shanties occupied by commercial sex workers in the area in search of the fleeing hoodlums. Spokesman of the Bayelsa State Police Command, Mr. Asinim Butswat, who confirmed the incident yesterday, however said the deceased policeman “strayed” from the team that was on routine patrol. “On 16 April, 2017, at about 0130hrs, a police patrol team, parked opposite the skippers fast food, along DSP Alamieyeseigha Road, for surveillance operations. “A police sergeant strayed away from the team, and was attacked by hoodlums who took away his firearm. We are following a promising lead. Investigation is ongoing,” Butswat said.

Anambra 2017: Nwobodo Heads APC Governorship Committee David-Chyddy Eleke in Awka The zonal leadership of the All Progressives Congress (APC) has inaugurated a committee to champion the election of an Anambra State governor from the party in the November 18 governorship election. The party revealed this at a press briefing held after a meeting of the zone which took place at the country home of the Minister of Labour and Employment, Dr. Chris Ngige. The National Vice-Chairman, South-east of the party, Dr. Emma Eneukwu, who briefed journalists, revealed that the party settled for Dr Jim Nwobodo, former Governor of the old Anambra State as Chairman of the committee. Chief Orji Uzor Kalu, Senator

Emma Agboti, Ifeanyi Ararume, Senator Nkechi Nwogwu, Dr Cosmas Madugba and Gbazuagu Gbazuagu were also listed as vice chairman, secretary and members respectively. Eneukwu said part of the terms of reference of the committee is to screen the aspirants on the platform of the party, and to ensure a rancour-free primary election for the party. He added that the committee is also saddled with the job of sourcing and ensuring the availability of funds to prosecute the election and ensure victory for whoever emerges the party’s candidate. The meeting was attended by all the big names in the party in the South-east geopolitical zone.

MINISTERIAL PRESS BRIEFING

L-R: Lagos State Commissioner for Information and Strategy, Mr. Steve Ayorinde; his counterparts in the Environment Ministry, Dr. Babatunde Adejare and the Special Adviser to the Governor on the Environment, Mr. Babatunde Hunpe, during the ministerial press briefing by the Ministry of Environment, in Alausa, Lagos...yesterday Kola Olasupo

Dangote Flour Divests from Noodles, Cedes Assets to Dufil As part of its regular business portfolio review, Dangote Flour Mills (DFM) has exited its noodles business, saying it does not consider it strategic. The company has sold the assets of Dangote Noodles to Dufil Prima Foods, makers of Indomie Noodles. To smoothen the transition, DFM has offered Dufil the use of some of its facilities on an interim basis. The noodles business was part of Dangote Flour Mills which the Dangote Group recently re-acquired from Tiger Brands. Group Managing Director, Dangote Flour Mills, Thabo Mabo, said the divestment was part of strategies of focusing on core areas of flour and pasta production where the company has substantial market share.

He said with the divestment, Dangote Flour would now focus on its strengths in flour and pasta and become more profitable by improving in areas of quality, distribution and marketing. The transaction which became effective last Monday, according to him, “is a win-win situation for Dangote Flour Mills, Dufil Prima Foods and staff of Dangote Noodles,” as Dangote Flour stands to boost more market presence through robust marketing He described the sale and transfer of assets as one of the most perfect divestments, with Dufil Prima Foods taking possession and kicking off production immediately. Under the terms of sales agreement, Dufil Prima Foods, according to him, will continue

to produce and sell noodles under the brand name, ‘Dangote Noodles’ for two years before changing the brand name. The Chief Executive Officer, Dufil Prima Foods, Deepak Singhal, confirmed the deal and described the acquisition of Dangote Noodles as strategic as they continue to seek more dominance of the noodles market. Acquiring Dangote Noodles, he said, would help Dufil Prima Foods deepen and sustain their market share, as well as gain a strategic advantage in terms of several range of noodles products in their stable. He re-stated that they are not shutting down the noodles production line but are commencing production with the brand name of Dangote Noodles immediately.

To ensure seamless transition and commencement of production, he said most of the former staff of Dangote Noodles are to be employed as staff of Dufil Prima Foods. With the new development, some former staff of Dangote noodles will transit to Dufil Prima Foods, while the rest redundant workers are being adequately compensated with mouth-watering severance package for their services to the company over the years. He said the terms of the severance package was agreed with the relevant trade unions and staff are paid off immediately to enable those retained by the new owners to start on a fresh contract while those who will not be retained will not have to wait for their benefits.

IPOB Appoints New Leaders for Biafra Zones David-Chyddy Eleke in Awka The Indigenous People of Biafra (IPOB) yesterday announced a new face of leadership structure that would pilot the day-to-day running of the affairs of the group in Biafra land. According to a statement by the Media and Publicity Secretary of IPOB, Emma Powerful, the new leadership is expected to work

under the leadership and command structure of IPOB leader, Nnamdi Kanu and his deputy, Uche Mefor. The new officers according to the statement are: George Onyeibe from Agbor, Delta State who is now Africa Representative and Interim Nigeria Coordinator; Tonye Tiger Amachree, from Ijaw in Bayelsa State who assumes the office of Biafra land Coordinator and Ategwa William Eje from Yala Local

Government, Cross Rivers State, now the Deputy Biafra land Coordinator. Those appointed Regional Coordinators which is part of Executive Council are Akpan from Ikot-Ekpene Akwa-Ibom State, Representing Biafra land East; Duke Oyibo, from Urhobo in Ughelli South, Delta State, representing Biafra land West; Aghaerigbo Chukwujindu from Ikeduru Owerri Imo

State, representing Biafra land Central; Paschal Ocheme from Omachaya Eteh in Ogbadigbo Local Government Area Benue State, representing Biafra land North and Chukwube Harry from Ogwashi-Uku Anioma South Delta State, who was appointed ex-officio member. The statement advised the new leaders to discharge their duties in the rules of command and control.

T H I S D AY WEDNESDAY APRIL 19, 2017

ADVERTORIAL

T H I S D AY TUESDAY APRIL 19, 2017

COMMENT

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

HIGH COST OF BURIALS IN ANAMBRA There is need to cut down on costs of burials, argues Sonnie Ekwowusi

eeved by the high cost of burials and funerals in Anambra State, which oftentimes drag the bereaved into financial bankruptcy, the Anambra State House of Assembly is about to enact a law that would at least curtail the cost of burials in the state. Titled a Bill for a law to Control Burial/Funeral Ceremonial Activities in Anambra State and sponsored by Hon. Charles Ezeani, the bill essentially seeks to outlaw funeral extravagance that gulps lots of hard-earned family incomes. Three weeks ago, a public hearing on the bill was organised by the Anambra State House of Assembly to allow public input into the bill. In his presentation, the Catholic Bishop of Awka Diocese, Most Rev. Paulinus C. Ezeokafor stated viva voce that high cost of burials had ruined many Anambra families. According to Bishop Ezeokafor, “I have seen families sell their real estates, property and personal belongings, in order to meet up with the expectation of the society as regards funeral expenses. As I am speaking to you, I know some families who have been in court for years on account of issues arising from funeral expenses and bills…we can no longer fold our hands as if nothing is happening.” His Lordship speaks the minds of us all in this worrisome cost of burials that keeps draining our treasuries. High cost of burials is an anomaly that cuts across many states. But the funeral vanities in Anambra are peculiarly irksome and irritating. The moment an indigene of Anambra State drops dead, a gigantic framework will be erected to indulge his relatives in expensive funeral extravagance. As His Lordship rightly pointed out at the public hearing, we celebrate the dead not the living. When a person is sick in the hospital and needs financial assistance, his or her relatives hardly show up. But the moment the person dies, you will see throngs of his/her relatives coming out from nowhere and bringing out money from their pockets to organise a super expensive funeral. A doctor friend narrated how a man who claimed that he did not have N5, 000 needed for his father’s urgent medical tests surprisingly showed up at the hospital three hours later after his father had died with the most expense ambulance to carry the dead body of his father. In many parts of Anambra, you cannot go empty-handed to the houses of ndi nwe mmadu (the deceased’s parents, relatives, her parents’ people, siblings and so on) to break the sad news of the death of their son or daughter, husband or wife. You must go with one or two bottles of choice wine and probably the sum of N30, 000 to give to them otherwise they will boycott your funeral. And if the deceased did not build a house in the village before he passed on, you will be required to build a new house in the village where his funeral will be celebrated. As you are trying to borrow money and do that, a group of village blackmailers and idlers will invite you to an impromptu village meeting and confront you with a list of very expensive items

WE CELEBRATE THE DEAD, NOT THE LIVING. WHEN A PERSON IS SICK IN THE HOSPITAL AND NEEDS FINANCIAL ASSISTANCE, HIS OR HER RELATIVES HARDLY SHOW UP

required for the funeral. Spicing their words with mouth-watering Igbo proverbs, they will intimidate you and tell you that your dead loved one was a great human being and therefore omeneala (village custom) dictates that you must kill at least a cow to bury him or her. As they are leaving, the leader of the indigenous married women called the umuada will send a messenger to warn you that under no circumstances must you joke with the menu of the umuada which must be: tea, bread and fried egg (for breakfast); pounded yam and ofe onugbu and ukwa (jolof breadfruit) (for lunch); boiled yam and vegetable soup and utara and ofe ntazi for dinner. The preferred beer of the umuada is the small stout beer. Some of them hide it away in their respective handbags and take it home. When you are done with the umuada, the village rainmaker comes and tells you that unless you pay him the sum of N250,000 he will cause the most ferocious rain to fall from the heavens and disrupt your funeral. As you are busy negotiating with him, your senior uncle appears from nowhere and tells you that the goat you bought for your in-laws is too skinny and therefore has to be replaced with a more juicy and fattened goat. The most scandalising aspect is that some Anambra clergymen conspire with the village elders, kindreds, wicked uncles and town/village development unions to rip off the bereaved during funerals. Even some clergymen can refuse to officiate at funerals simply because the bereaved has not produced the “clearance”, that is, a piece of paper that indicates that the bereaved had paid the extortion fees to the town/village development union or the kindred. The questions are: Why do we call ourselves Christians if indeed we behave like pagans and unbelievers and indulge in pagan practices? What is wrong with the heart of man that it is constantly bringing out wickedness? Think about this. Someone has lost a loved one. He/she is in deep sorrow. Now, instead of sympathising with the person to take away his/her sorrow, the village people and members of the town/village union or the kindred will surround the person and start multiplying his/her funeral expenses thereby multiplying his/her sorrows. This is sheer wickedness. It is unchristian. It is ungodly. It is anti-culture. It is anti-human. Agreed, we have to bury the dead with honour, respect and dignity. But that does not mean stifling the living to death or seeking after vanity of vanities or putrid display of affluence or godless materialism at burials. The quality of a burial given to a dead person on this earth does not improve the condition of the person in the life hereafter. When Jesus Christ died, he was quickly buried in a new tomb cut out of the rock by Joseph of Arimathea. Being a rich man, Joseph of Arimathea could have proceeded afterwards to organise an expensive funeral in honour of Jesus Christ.

BUILDING CAPACITY THROUGH EMPOWERMENT

Essien Ndueso writes that the Akwa Ibom State Government is doing its bit to empower the people

n Tuesday, April 11,2017 some qualified unemployed youths left for training abroad to equip themselves for the electric metering factory billed to take off next month. The youths who were selected after a rigorous screening programme are the outcome of Governor Udom Emmanuel’s insistence that his administration shall build and enhance capacity for youths in the state. When the metering factory recruitment exercise commenced, several youths of the state gave the programme little or no attention, and after series of persuasion from the governor the reality has now dawn on the people of the state, and today those selected are travelling for specialised trainings in engineering and management courses outside the shores of the country. To add pep to his agenda, the governor instituted a loan scheme of N2 billion for traders in the state and several market women and men have accessed the loan ranging from N100,000 to N500,000 each. The fund which was made available through the micro and medium scale enterprises is to cater for 1000 beneficiaries who are mostly traders. The percentage of disbursement is 65 per cent for women while the men will access the remaining 35 per cent. In floating the scheme, Governor Emmanuel who donated a bus to the traders, said that the loan which is revolving and interest-free, will boost working capital of the traders and enable them excel in their businesses. Recently, Donald Antai Esio, an indigene of Udung Uko local government who was a barber at Ekpri Nsukara Street, Uyo metamorphosed into a 21st century computer programmer. Today, his former customers have had to adapt to the services of his apprentices because he hearkened to the clarion call on capacity building. “I was barbing when the announcement on the radio was made

for those shortlisted to proceed on a training course in a computer application- Oracle. Although I had not applied, and I had no previous knowledge of computer operations, I had a firm belief that Governor Emmanuel could be trusted as a man of his words,” he said. On the said day, he prayed in the morning and decided to also go to the Akwa Ibom State e-library, venue of the training exercise. On getting there, those earlier shortlisted were screened and ushered in, while eleven of them remained outside, discouraged but hopeful. Suddenly, one of the organisers came out and enquired of them their mission, and when they told him, he said they were working according to the approved list. However after a while someone came out took their names and took them inside. “Which church do you attend?” “Redeemed Christian Church, Sir,” was the reply. God has answered your prayer, he told me. That is how I was miraculously enlisted in that seven months training programme that saw us given some money as transport and feeding allowance as well as a laptop computer which I can confirm is more than N200,000. See my brother, Governor Udom ‘awork’, and I thank God for making me a beneficiary” Donald mustered. Donald and 199 others are among the first batch of 1000 Oracle application trained and empowered youths of the state. Explaining the concept of capacity development, Mr Charles Udoh, the Commissioner for Information and Strategy said, “The governor is bringing in a lot of industries into the state, and the industries need skilled manpower to take strategic management positions. That is why he wants to develop as many youths as possible in the state. He has earmarked a lot of training and empowerment programmes such as the Oracle training, the Micro Works training, and such other ones for the unemployed in the state.”

To this end, 1000 youths have been trained in Micro Works (an online marketplace) in collaboration with the Rockefeller Foundation, with most of the beneficiaries now comfortably earning money in dollars. Still on the concept of putting people on cue for the emerging industrial boom in the state, the government is also considering other technical areas such Android and I-Phone Assembling training, training in Third Printers that can equip people with the skills to make toy wrist watches, necklaces, customised bottles, bracelets, among others; there are also proposed trainings in Cisco programming as well as project management. The government of Mr. Emmanuel is a believer in capacity building, and that is why several youths in the state are at various stages of training in specialised programmes in computer technology, engineering, agriculture, among others. When he assumed office on May 29, 2015, the governor had promised that he is coming principally to build capacity and strengthen institutions. The agriculture sub-sector appears the greatest beneficiary as many farmers and young people have been trained and encouraged in agro-industrial farming with the government’s vision to transform the entire agricultural sector, cutting across the crop, livestock and fish farmers. The youths are now being given ‘nets’ because the governor expects the youths to earn a living by working and not by begging. And the best way is to create wealth and make agriculture attractive. Instead of discouraging youths with hoes and matchets, the government is mechanising agriculture. The government is partnering with investors who are ready to bring in modern farm equipment. “We are going to set up tractor hiring services and maintenance centres in the three senatorial districts. Once we reduce the tediousness in preparing land for farming, people will be encouraged to go and farm,” Emmanuel had

assured. In addition to these, no fewer than 4,477 youths are currently at different levels of trainings in various skills across the 329 wards in the state. The Senior Special Assistant to the Governor on Skills Development, Dr. Majorie George Abasiodiong revealed 1,917 youths are benefiting in Eket Senatorial District, 780 in Ikot Ekpene and 1,780 in Uyo senatorial districts. They are being trained at 530 different training centres closest to them across the 31 local government areas of the state for proximity. The centres are spread as follows: Ikot Ekpene Senatorial District, 80; Eket Senatorial District, 230 while Uyo Senatorial District has 220 centres. At the end of the training, trainees are expected to be provided with starter packs at the end of training for sustainability and self reliance. Some of the skills being acquired are in ICT/ computer engineering, catering, pharmaceuticals, interior and exterior decoration, cosmetics, aluminium fittings, carpentry/furniture making, fashion and design, civil engineering, food processing, agro-allied, pipeline welding, hat/bead making, song/sound production, videography/photography/editing, arts and painting. Other skills being obtained are in the areas of welding and fabrication, shoe making, designing/ printing, bags designing, solar energy, hairdressing, music/film production, paint production, vulcanising, electrical installation, phone repairs/maintenance, make-up artist, auto mechanic, poultry/fish farming, barbing, laundry, chalk production and many others. Governor Emmanuel has fashioned out a road map for attainment of food sufficiency while farmers and stakeholders in the state across various agricultural value chains have been grouped into value chains clusters and sensitised on government determination to use agriculture as a key driver of the state’s industrialisation policy.

T H I S D AY • TUEDAY APRIL 19, 2017

EDITORIAL THE POWER SUPPLY CONUNDRUM The energy crisis cannot be fixed by excuses

he Saudi Electricity Company recently announced that in anticipation of an increase in the number of pilgrims expected this year, it had upgraded the capacity of its plants at the holy sites, bringing them to 18,680MW. For many Nigerians, this must be depressing news. In our country, power generation peaked at an all-time high of 5,100 MW mid last year and that was after investing several billions of dollars. The Minister of Power, Works and Housing, Mr. Babatunde Raji Fashola, SAN, told ARISE TV, a sister broadcast company of THISDAY Newspapers, last week that due to system collapse at two of the nation’s power plants, electricity generation had dropped to 3,400MW. He promised to restore generation to 4,000 MW within six days. That didn’t happen as darkness enveloped the country at a time of intense heat. Even now, the power situation remains epileptic and government appears at its wits end on the solution to the daunting challenge. Fashola spoke about funding issues, obsolete infrastructure, inadequate gas supply due to vandalism and huge debt burden and WHAT NIGERIANS low water levels at DEMAND, AND DESERVE, hydro power stations. ARE MEGAWATTS OF He said government ELECTRICITY, NOT was set to tackle these MEGAWATTS OF EXCUSES problems with its power recovery plan and power sector reforms, which he explained would sanitise the sector and make it attractive to investors. Stripped of his brilliance and grasp of the sector’s challenges, what is left of Fashola’s epic interview is cynicism. Actually he said nothing new. Past governments have stated the same problems: inadequate funding; infrastructure decay; gas pipeline vandalism and huge public sector debts. To say that the power sector has been a national challenge is an understatement. After the federal government had invested about N2.7 trillion in the sector without success, it opted for privatisation. But ever since the sector was handed over to private investors in 2013, not much

Letters to the Editor

positive results have been posted as power generation has hovered around 4,000MW. Besides, transmission and distribution have been lagging with the distribution companies unable to do more than 3,000MW at best of times because of weak distribution infrastructure occasioned by inadequate financing to upgrade their equipment.

T 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

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wo years ago, the Central Bank of Nigeria (CBN) intervened with a N213 billion Nigeria Electricity Market Stabilisation Facility for the operators within the sector. The government also raised prices paid by electricity consumers under the Multi-Year Tariff Order (MYTO), introduced in June 2012 to gradually make tariffs more cost-reflective to encourage private investment. The latest adjustment in the current MYTO (2015-2024), which took effect on February 1, 2015 raised prices by an average of 45%. This too would appear not to have brought succour to the problematic sector as power supply remained epileptic. Nigerians were told that the reason for the palpable failure to provide them electricity was the inefficiency of the public sector that was operating it and that with private sector investment and control, power supply would look up. Unfortunately, that has not happened. More disappointing is the evident impotence of the government to chart a way out of the obvious conundrum that the sector has found itself. Although government plans another N701 billion intervention fund for the sector, we think, however, that throwing money at the sector is no solution as there are governance and regulatory issues that would have to be sorted out before the nation can begin to make some headway. Meanwhile, the Nigeria Electricity Regulatory Commission (NERC) that should tackle these issues is largely comatose as it has no chairman since the last board was dissolved almost two years ago. The federal government, therefore, needs to urgently appoint a chairman for the NERC so that the commission could set about dealing squarely with the naughty issues that have kept the sector on its knees. What Nigerians demand, and deserve, are megawatts of electricity, not megawatts of excuses.

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.

IS NIGERIA READY FOR ELECTRONICVOTING?

nly few days back the Independent National Electoral Commission (INEC) published the timetable for the next general election so as to bring about certainty in the electoral calender of Nigeria. The agenda setting exercise gained significant mileage when the Senate announced the passage of a legislation to bring into practice the use of electronic voting in Nigeria. It bears repeating that just before the end of March 2017, the senate passed the bill legislating into being (consequent upon presidential assent/veto override) of the electronic voting and card readers for the INEC. In the considered thinking of the legislators at the upper chamber of the National Assembly, the fresh amendments to the electoral act is meant to introduce the use of electronic voting in elections. Section 52 (2) of the amendment passed by the senate reads: “The commission shall adopt electronic voting in all elections or any other method of voting as may be determined by the commission from time to time.” It explained that “the amendment mandates e-voting without ambiguity but also gives the commission discretion to use other methods if it is impracticable to use e-voting in any election.” Integrity of the electoral process remains the biggest problem dogging the practice of democracy in Nigeria. Therefore, the amendments, if well implemented, will ensure transparency in polls and check the disenfranchisement of eligible voters and other attendant crises of the electoral process, the lawmakers had reasoned. Specifically, section 49 of the new amendment tagged “Accreditation of voters, transmission of accreditation data, issuance of ballot papers to voters, etc,” states: “A person intending to vote in an election

shall present himself with his voter’s card to a presiding officer for accreditation at the polling unit in the constituency in which his name is registered. The presiding officer shall use a smart card reader or any other technological device that may be prescribed by the commission from time to time for the accreditation of voters, to verify, confirm or authenticate.” The senate explained that this aspect of the amendment “gives solid legal footing and clarity to the commission’s introduction of smart card readers for accreditation of voters during elections”, adding that it equally “makes room for introduction of other election devices by the commission, as may be necessary, in the future.” According to the lawmakers, the amendment also “makes allowance” for the likelihood of failure of card readers and mandates the commission to remedy such a situation. However, whereas it may sound revolutionary that at long last Nigeria is joining the ranks of advanced societies that adopt the electronic voting mechanisms, there are a number of challenges that ought to be confronted. Let me make it clear from onset that I support any mechanisms put in place to checkmate the perennial abuses of the electoral process. My only concern is how Nigeria can address the fundamental challenges of this revolutionary voting method. Apart from poor infrastructure, the economic recession is a major drawback in such a way that it may be difficult to find the quantum of cash that would be required to buy the electronic voting infrastructure. So the challenges are real. These challenges are in two parts, namely human factor and the factor of gross underdevelopment of the nation’s infrastructural backbones.

Speaking about the human factor, it is important to state that Nigerians need to undergo fundamental and clearly intensive orientation to depart from the temptations of manipulating whatever process and mechanisms that are put in place such as the electronic voting machine being contemplated. The nation is still at the primary stage of dismantling the criminal infrastructure of sophisticated cybercrime gangs. This model being contemplated which in any case is in tune with global best practices could definitely be undermined by these teething problems of technicalities. We also need to strengthen the necessary institutions that ought to dispense justice to administer legal sanctions on alleged manipulators of elections. These critical areas of gaps are yet to be fundamentally addressed. There is therefore the urgency to put all options on the table and to proffer the most pragmatic panacea just before Nigeria can begin the use of electronic voting in Nigeria. The second inhibiting factor is the infrastructure gaps facing Nigeria. For decades, many scholars have come to the consensus that the electricity power situation has been a major cause for concern. To underscore the collapse of the electricity power sector we were reminded that just few days back , that the top six GenCos providing the country with electricity (Egbin Power Limited, Transcorp Power, Shiroro, Kainji/Jebba, Sapele, and Geregu) would shut down their power plants if the federal government, through the Nigerian Bulk Electricity Trader (NBET), refuses to pay its N156 billion debt to them. This serious power infrastructure gap may fundamentally pose a serious challenge to the full implementation of the e-voting. Emmanuel Onwubiko, www.huriwa@blogspot.com

T H I S D AY WEDNESDAY APRIL 19, 2017

50 Happy

Birthday

On behalf of the Board, Management and entire Staff of Marine Platforms, we wish to congratulate our humble, hardworking, and trustworthy Partner-Founder and Chief Finance & Administrations Ofﬁcer

Baji Kyarie Nyam as he marks his Golden Jubilee Anniversary today.

NATI O N

NTENT

Our hearts are ﬁlled with joy as we celebrate with you today. We are indeed proud that you have been a good ambassador of leadership, worthy values, diligence and integrity. We wish you many more happier years ahead as you continue to steer us into greater success.

THROUGH

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T H I S D AY • WEDNESDAY, APRIL 19, 2017

MIDWEEKPOLITICS

Group Politics Editor Tobi Soniyi Email tobi.soniyi@thisdaylive.com 08033146139 SMS ONLY

THE NEWSMAKER

Agbaje, the Incurable Optimist

Notwithstanding the crisis rocking the Peoples Democratic Party, the race for the national chairman of the party continues unabated. Segun James takes a look at the chances of one of the contenders, Jimi Agbaje

lthough, the Peoples Democratic Party (PDP) remained embroiled in a leadership crisis, yet the battle as to who will lead the party has resumed in earnest. For those who are following the polity closely, a changing nation means a changing political party, a changing political landscape and a changing political leadership. Therefore, the battle as to who is qualified and capable to lead the party towards the 2019 general election after the present crisis has become crucial. The choice of who will lead the party after the Supreme Court has finally decided on who is in charge between Ali Modu Sherrif and Ahmed Makarfi is likely to be shaped by the apex court decision. At a time when party loyalists were hoping that there was a solution in sight to the leadership crisis, events suddenly took a turn for the worse when Sherrif reportedly stormed out of a meeting called by former President Goodluck Jonathan. As it is now, the two combatants presently embroiled in a battle of wits over who is the authentic leader of the party, may have to wait for the judgment of the Supreme Court. Enters Olujimi Kolawole Agbaje, aka Jimi Agbaje or J. K Agbaje, a pharmacist turned politician who believes he has the magic wand to turn the fortune of the former largest party in Africa around before the election. He is now locked in a battle with the former deputy national chairman of the battle and the leader of the party in the southwest, Chief Olabode George over who heads the party in the event that either a political or legal solution is found to the protracted crisis in the next few months. While most people have thrown in the towel as the crisis rocking the party lingers, and in fact most of them have indeed found their way into the ruling All Progressives Congress (APC), Agbaje has remained resolute, committed, and determined as he soldiers on in the embattled political party. Agbaje is an incurable optimist and very stubborn. Once he is convinced about anything, he sticks to it, no matter whose ox gored. Tell him that the PDP is a dead party; he would smile and tell you that nothing is entirely useless, not even a supposedly dead party. But then, Agbaje does not believe that the PDP is dead. That the party has problems, yes he has no doubts, but dead – certainly not. To him, the party may be having its own crisis and political tribulations, but he is optimistic that once the protracted legal battle which is now at its fianal stage in the Supreme Court is over, the party will, like the eagle, soar from the ashes of its crisis to victory in 2019. Even before this renaissance, a lot of party members and former leaders have jumped ship to the APC instead of waiting to help salvage the situation and mend the leaking holes in the ship. Agbaje has refused to defect. He remains steadfast. He would not cross from the embattled party to the APC as several others have done because he believes that everybody cannot all belong to just one political party. After all, the nation political system requires a virile opposition which is very essential for the system to function properly. He, however also believes that for PDP to be a virile opposition force, it requires an effective leadership that should be ready to move it to the next level. This, he insisted, he is ready to provide for the party at this very crucial and critical stage as the preparation for the 2019 election gathers steam.

Agbaje....confident of emerging PDP chairman

Agbaje believes that although an uneasy calm has returned to the party, the realisation that time is not in the hands of the party may be the pivot for an amicable solution and installation of a new party leadership. When the search for the leadership of the PDP started last year, Agbaje was never in the reckoning. But following the decision of the party leadership to zone the national chairmanship to the southwest and the need for

When the search for the leadership of the PDP started last year, Agbaje was never in the reckoning. But following the decision of the party leadership to zone the national chairmanship to the southwest and the need for an effective leadership in the face of the crisis rocking the party after it loss power in the last general election, the party caucus decided that Agbaje has the charisma, leadership quality, ability and capability to lead the party at the most critical period in its history. Hence, he was persuaded to contest for the leadership

an effective leadership in the face of the crisis rocking the party after it loss power in the last general election, the party caucus decided that Agbaje has the charisma, leadership quality, ability and capability to lead the party at the most critical period in its history. Hence, he was persuaded to contest for the leadership. Agbaje is one person that does not shy away from challenges and responsibility. He saw the invitation to lead the party at this critical time as a call to duty and challenge which must be faced head on in the interest of the nation. But Agbaje found a formidable opposition in his former mentor and political leader, Chief Bode George who had initially urged him on but later turned out to be his only opponent in the race. But undaunted, Agbaje is moving on. He believes he has what it will take to emerge chairman of the party. He was coasting to victory when the crisis in the party took a dramatic turn at the national convention of the party that was cancelled. Today, there are four persons who have now indicated their interest in becoming the leader of the party. They include Bode George, former Chief of Staff to President Goodluck Jonathan, retired General Jones Arogbofa, former governor of Ondo State, Olusegun Mimiko and Agbaje. The battle has indeed started. Despite this, Agbaje is undaunted as he soldiers on in his resolve to lead the PDP out of the woods and into victory in 2019. Jimi Agbaje was born on the 2nd of March 1957 in Lagos State to the late Chief Julius Kosebinu, a banker and Mrs. Margaret Olabisi, a teacher. He is the second child and first male child of five siblings (two females and two males) including Segun Agbaje, CEO of Guaranty Trust Bank. Agbaje attended the elite Corona School, Lagos for his primary education before proceeding to St. Gregory’s College for his secondary education where he was not only the school’s prefect, he was a great cricket and represented Lagos state in the National Cricket Competition! From here he proceeded to the University of Ife where he graduated as a Pharmacist in 1978. In 1982, Agbaje founded his own company,

JAYKAY Pharmaceutical and Chemical Company Limited and was Managing Director until 2005 when he decided to venture into politics. A consummate professional, he was a member of the Pharmacists Council of Nigeria (1999 – 2006); National Secretary of the Nigerian Association of General Practice Pharmacists (NAGPP) from 1987 – 1990; National Chairman NAGPP (1990 – 1993) and Chairman Pharmaceutical society of Nigeria Lagos State (1994 – 1997). He was a member, Lagos State Task force on Fake and Adulterated Drugs (1989 – 1993), National Drug Formulary and Essential Drugs List (1986 – 1993) and Lagos Hospitals Management Board (1994 – 1997). Agbaje also sits on the board of other organizations including Oakwood Park Ltd, Atlantic Hall Secondary School Epe, Jimi Agbaje Outreach (a project dedicated to helping the less fortunate) and has served as business mentor at Fate Foundation. In a 2013 interview Agbaje talked about how he began in politics: “It had to do with the Moshood Abiola/Bashir Tofa presidential election”, he said. “I saw the annulment as a personal insult and an assault on the Nigerian people. This led to my first entry into what I would call activism, working with other concerned professionals” such as Prof. Pat Utomi, Dr Ayo Ighodaro, Asue Ighodalo, Billy Lawson, Oby Ezekwesili, Tola Mobolurin and Hassan Odukale. Jimi was in one form of resistance group or the other which ultimately led him to join the socio-political organization, Afenifere where he served as national treasurer. Based on his affiliation with Afenifere, Jimi Agbaje joined the Alliance for Democracy (AD) - his first political party and later the Action Congress (AC). In 2007, Agbaje who had initially aspired to contest for the Governor of Lagos State on the platform of the Action Congress left the party to join the Democratic People’s Alliance (DPA). He was among the eleven aspirants whomturned their back to the AC when it was alleged that Governor Bola Tinubu had already anointed someone else to succeed him even before the party’s primaries. Widely believed to have conducted the best campaign in 2007, Agbaje contested in gubernatorial election on the DPA platform, but eventually, alongside other major contenders like Musiliu Obanikoro of PDP, Femi Pedro of Labour Party - lost to Babatunde Raji Fashola of the Action Congress. He left DPA in 2011 and went on to join the ruling party, the PDP following the de-registration of DPA by the Independent National Electoral Commission (INEC). On October 29, 2014, he officially indicated his interest in giving the Lagos State gubernatorial elections another shot by picking up the PDP nomination form. On 8 December 2014, it was reported that he emerged as the candidate of the PDP for the 2015 Lagos State gubernatorial election, having defeated Musiliu Obanikoro in the primary. Musiliu Obanikoro was the former Minister of State for Defense who is also a member of the PDP. He is married to Abiola Agbaje (née Bankole), a lawyer. The couple met as students at the University of Ife and dated for eight years before getting married. They have three children; two boys and a girl. As the PDP continues to waddle toward the next general election, what the party requires to have any effective presence in the three governorship elections coming up in Anambra in later this year and in Osun and Ekiti states next year is a leader with proven ability who can effectively bring the member together for a great performance. Jimi Agbaje believes he is that leader.

T H I S D AY • WEDNESDAY, APRIL 19, 2017

UPDATE&TRENDING

MIDWEEKPOLITICS

Election Levies Ignite Crisis in Cross River The imposition of prohibitive levies by the Cross River State Independent Electoral Commission on candidateswhowanttoparticipateintheJune17localgovernmentelectionshastriggeredaleadership crisis within the state chapter of the Inter-Party Advisory Council. Bassey Inyang reports

t the Cross River Chapter of the Inter-Party Advisory Party Council (IPAC), things are no longer at ease. The umbrella organisation for interaction among all registered political parties in Nigeria has been submerged in leadership crisis following the alleged removal of its chairman, Baron Nsa Eyo, and the dissolution of the executive committee he led by a section of its members. The crisis within the IPAC in the state became obvious on Thursday, March 16, this year, during a press conference called by some members of the group where it was announced that a new set of leaders had been elected to replace the Eyo-led executive committee. The Chairman of the Independent Democrats (ID), Mr. Sunday Michael, who addressed journalists on behalf of the ‘rebellious’ members announced the election of Dr. Fidelis Okoh as the new IPAC chairman in the state. Michael announced Mr. Maurice Asuquo, and Mr. Paddy, as its new deputy chairman, and Secretary, respectively. He also said that Eno Enang, Mr. Francis Ita, Dr Uke Enun, and Mr. Ebieni Ana, were other members of the executive committee of the state chapter of IPAC. Michael, who explained that he spoke in his capacity as chairman of the special committee that looked into complaints against the Eyoled executive, said the decision to sack the committee was taken at a meeting of all the registered political parties under the IPAC, a week before the decision was made public. Michael said the conclusion of majority of members was that the sacked executive had derailed from the ideals for which IPAC was established, and had grossly violated its constitution. Michael said base on the fact before the committee, it found Eyo’s executive committee culpable, and therefore recommended that it be dissolved, and a new executive be installed. He said the members were guided by the provisions of IPAC’s constitution in arriving at their decisions. Michael said the failure of the Eyo-led executive to hold meetings regularly since it assumed office in September, 2016 amounted to serious violation of IPAC’s constitution. Okoh who was inaugurated as the new chairman wasted no time as he immediately swung into action and delivered his acceptance speech. In his speech, Okoh promised to work with all stakeholders in IPAC to ensure that the political space in the state was expanded for greater participation. But, Eyo who is also the chairman of Labour Party (LP) in the state dismissed his purported removal with a wave of the hand, insisting that he remained the chairman of IPAC in the state. Describing the action of his detractor as illegal, and unconstitutional, Eyo insisted that the executive of IPAC, which he leads has not been dissolved. “I am the chairman of IPAC in Cross River State. All IPAC elections must be approved by the national secretariat and supervised by the Independent National Electoral Commission (INEC). My executive cannot be removed illegally,” Eyo said. He boasted that those who plotted to remove him and his exco have failed abinitio because they acted illegally. However, the embattled IPAC chairman blamed the Special Adviser to the Cross State Governor, Ben Ayade on Interparty Affairs, Mr. Austine Ibok, for plotting to remove him from office. However, THISDAY investigation indicates that the move to sack the Eyo-led executive can be described as one of the emerging episodes in the build-up to the forth-coming local government elections in the state. The council election is billed for June 17, this year.

Ayade....ready to work with IPAC

Reliable sources within the IPAC are of the view that the immediate cause of for the removal of Eyo from his post stems from the communiqué he issued challenging what his executive members viewed as “exorbitant and exploitative” levies imposed by the Cross River State Independent Electoral Commission (CROSIEC ), for political parties and their candidates. The communique issued earlier on Thursday, some hour before Eyo’s opponents moved against him, also accused CROSIEC of deliberately excluding IPAC in the formulation of guidelines for the expected council polls. The communiqué reads in part: “The exorbitant financial demands by CROSIEC are meant to skew the election in favour of rich people who may not be the choice of the people

If the fees announced by the CROSIEC are allowed to stand, the elections would be reduced, at best, to a two-horse race between the ruling party in the state, the Peoples Democratic Party (PDP), and the leading opposition party, the All Progressives Congress (APC), because only their candidates could afford such fees

Eyo.....insists he remained IPAC Chairman

because the popular aspirants may not be able to afford such high levies. “During the era of Senator Liyel Imoke, chairmanship candidates were charged N70,000 for nomination form, but the same fees have been hiked to N350,000 by this government while the councillorship was N25,000, and now it has shot up to N150,000, which is over 200 percent increase in a time of recession. “If CROSIEC should demand so much from candidates, what would the parties which need funds to develop charge the candidates? We, therefore, demand an immediate downward review of these levies or we would be left with no option than to take legal action against CROSIEC.” Investigation revealed that the communiqué was released based on suspicion that the exorbitant fees announced by the CROSIEC were a ploy to deliberately stop smaller political parties from fielding candidates for the council polls because the commission knew that they would be unable to afford the high fees. It is generally argued that, if the fees announced by the CROSIEC are allowed to stand, the elections would be reduced, at best, to a two-horse race between the ruling party in the state, the Peoples Democratic Party (PDP), and the leading opposition party, the All Progressives Congress (APC), because only their candidates could afford such fees. Some of those opposed to the exorbitant fees are pointing fingers at Ibok and the CROSIEC accusing them of colluding to hatch a grand plot to deny many people, and parties the right to freely participate in choosing their leaders and representatives at the third tier of government in the state. THISDAY investigation further revealed that the communiqué issued by Eyo was repulsive to some of members of the IPAC who felt that he was not being diplomatic in

handling the issue of levies, and feared that his tough stance on the issue would affect the relationship between IPAC and the state government, which is the sole financier of IPAC activities. The ‘palace coup’ against Eyo and his executive which took place the same day the communiqué was issued was a further confirmation that there was an unseen hand in the entire plot. The Eyo-led exco was dismissed from office, barely one year after the former IPAC chairman, Mr. Godddie Akpama, was removed from office for allegedly tasking Ayade on good governance. Michael may have unwittingly admitted that the crisis in the IPAC, could be traced to the interplay of forces and pursuit of partisan, and individual interest ahead of the council polls when he said that “the local government election in the state was fast approaching, hence there was need for strong leadership so that peace can be sustained.” However, Ibok whose office is saddled with the responsibility of handling interactions between the state government and political parties has absolved himself of any blame in the leadership crisis rocking the umbrella body of political parties. Ibok said he was not aware of any issue that would have warranted the dissolution of the Eyo-led executive. The governor’s aide said he was going to make enquires on what happened. He stated that IPAC was an independent body with its rules and regulations, hence his office could not dictate what happens there. Ibok , who incidentally, was Eyo’s predecessor in the LP, advised members of IPAC to work towards ensuring that there was unity and sense of single purposed among them, saying ‘’Professor Ben Ayade’s administration is ready to work with any legitimate state executive committee presented by IPAC.”

T H I S D AY • WEDNESDAY, APRIL 19, 2017

FEATURES

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

Entrepreneurs of Tomorrow

Solomon Elusoji writes on a training programme that seeks to nurture individuals who can help to shape Nigeria’s future

n a breezy evening in the first week of April, black suits and ties streamed into the Civic Centre in Victoria Island, Lagos. There were photographs and shaking of hands and a glitzy cocktail, but the cynosure of all eyes that evening was a group of 10 young Nigerians who had completed a gruelling 11-month training under the Nigerian Stock Exchange’s Graduate Training programme. In 2011, the NSE was undergoing a reorganisation, one that was not merely about subtractions and additions, but about spotting the competencies and capabilities that could move the company forward. “Our strategic objective was to acquire skills which were eventually deployed and utilised in revamping the organisation, making her strong, healthy and able to compete on a global business space,” NSE Head of Corporate Services, Pai Gamde, says. To enable the company take control of its skills development strategy aimed at churning out talent fit for the capital market and in response to the multiple conundrum of the global economic flux, hostile talent war and other dynamics impacting businesses worldwide, the NSE’s GTP was established in 2014, with the objective of grooming future leaders for the capital market and the Nigerian economy. Through three cycles of graduands, from 2015 to 2017, the GTP became a visible brand etched in the hearts and minds of some of the best and brightest minds that graduated from some of the best universities in Nigeria and Africa. This is evident by the thousands of graduates who storm the internet to enlist for the programme. Interestingly, the programme continues to grow. From the very first cycle in 2014, the NSE received about 4,800 applications. In 2015, there were about 5,900 applications representing a 23.3 per cent increase in interest and participation. And by 2016, there was a 33.7 per cent increase with about 7,900 applications. In the past three years of running this programme, the NSE has graduated 25 trainees and these graduands have been deployed into several functions within the organisation, serving in different capacities. “Though one may wonder why so few, from our perspective, it is not about the numbers but about creating value and quality,” Gamde says. “At the Exchange, we pride ourselves on being a young and dynamic organisation. And with the infusion of these millennials, we have recorded a 2.5 per cent reduction in the average age of the NSE worker year on year.” The GTP was conceived by the NSE’s current Chief Executive Officer, Mr. Oscar Onyema; and when he took to the podium on the evening, he noted that the GTP was

We developed this programme because we recognised that acquiring the right talents would greatly move us closer to achieving our vision of becoming Africa’s foremost securities exchange. We also believe that it will help to position Nigeria as a globally competitive nation

L-R: Chief Executive Officer MORBOD Fisheries Limited; Margaret Orakwusi, the best graduating student of the Nigerian Stock Exchange Graduate Trainee Programme Class of 2017, Jenny Aigbike and CEO, Nigerian Stock Exchange, Oscar Onyema, at the NSE GTP Class of 2017 graduation ceremony in Lagos…recently

L-R: CEO, Nigerian Stock Exchange, Mr. Oscar Onyema and Damilola Emiola, a member of the NSE Graduate Trainee Programme Class of 2017, at the NSE Graduate Trainee Programme Class of 2017 graduation ceremony in Lagos

designed to equip young talents with the required skill-sets and knowledge to become exemplary professionals and leaders in the workplace. “We developed this programme because we recognised that acquiring the right talents would greatly move us closer to achieving our vision of becoming Africa’s foremost securities exchange,” he said. “We also believe that it will help to position Nigeria as a globally competitive nation. Since inception, the GTP has produced 25 outstanding professionals who are making their mark in their respective departments within the Exchange.

These graduating trainees have been exposed to a series of training programmes spanning classroom sessions, internal job rotations, external social engagements, external internships and self-development techniques, to mention a few. “Despite the harsh economic environment, the Exchange has continued to invest heavily in this programme over the years, and has sustained this standard through its vast curriculum and exceptional faculty. “Through the GTP, we have established a strong foundation to address the skill gap in the Nigerian capital market and ensured

requisite talent is available to fill human capacity needs within the capital market ecosystem. With the GTP, we are equally showing our commitments to accelerating the achievements of the United Nations Sustainable Development Goal number eight, which seeks to promote inclusive and sustainable economic growth, employment and decent work for all by year 2030.” However, he noted that a lot still needs to be done about the unemployment rate in the country which, according to recent statistics by the National Bureau of Statistics, stands at

T H I S D AY • WEDNESDAY, APRIL 19, 2017

FEATURES

L-R: Members of GTP Class of 2017, Adedotun Ogunbiyi, Jenny Aigbike, Luke Ofojebe, Adeolu Towolawi, Damilola Emiola, Acting CEO, Central Securities Clearing System Plc; Bola Adeeko, Ag. Head, Corporate Services Division, NSE, Pai Gamde, former Minister of Information and Communications, Frank Nweke Jr , CEO, NSE; Oscar Onyema, General Counsel and Head, Regulation, NSE; Tinuade Awe, members of GTP Class of 2017, Abimbola Akindolire, Omosigho Otarigho, Ayodele Okeniyi, Joshua Abhulimhen, and Adeoluwa Oni, at the NSE Graduate Trainee Programme Class of 2017 graduation ceremony in Lagos

L –R: Chairman, Sterling Bank Plc; Asue Ighodalo, Founder, Invivo Partners; Ngozi Edozie, German Consul General; Ingo Herbert, Acting Head, Corporate Services Division, NSE; Pai Gamde, CEO, NSE; Oscar Onyema, Chief Executive Officer MORBOD Fisheries Limited; Margaret Orakwusi,former Minister of Information and Communications, Frank Nweke Jr, Chairperson/CEO of Brittania-U Nigeria Limited; Uju Ifejiaka, Executive Director, Market Operations and Technology, NSE; Ade Bajomo, General Counsel and Head, Regulation, NSE, Tinuade Awe, at the NSE Graduate Trainee Programme, Class of 2017 graduation ceremony in Lagos

13.9%. “We will continue to do our own part using various mechanisms, but the GTP will continue to be our flagship for addressing the unemployment problem,” he said. He went on to congratulate the participants for their discipline and performance through the course of the programme. “The GTP has equipped you for the world and we believe that you will make extensive use of the lessons learnt and skills acquired here to improve the state of the world,” he said. “We expect that you will continue learning and expand your knowledge base within and beyond the capital market. And that we will learn from you as you unleash your creativity and innovation in the various assignments you will undertake. I look forward to visiting the Exchange several years from now, to be welcomed by one of you as CEO of the Exchange.” The keynote speaker for the evening was Nigeria’s former Minister of Information and Communications, Frank Nweke Jr . He offered his respect to the NSE for the initiative and noted that it was a step in the right direction. “It represents the kind of strategic thinking and visioning which is the hallmark of great leadership and an important component in the foundation for solid institutions,” he said. “It

bears re-stating that no kind of progress can be achieved by accident. Enduring progress can only be achieved through conscious and dedicated effort. And this has been exemplified by the NSE under the leadership of the CEO in planning for the future and investing in people, to ensure that the knowledge and skills required for the growth and development of the Nigerian capital market in the coming years is nurtured and regularly updated.”

This programme gave me the privilege to carry out my internship in companies like Africa Prudential Registers and I learnt so much. I assure everyone here today that I will continue to be the best representation of myself, I will uphold the Exchange’s value and culture as I pursue its goals

To the participants, he noted that they “must not only be book-smart. You must learn to be flexible and adaptable, because you will find that in the real world, not all the things that you’ve been taught will reveal themselves in the exact same way; your intelligence and emotional quotient then comes into play. You must also endeavour to take initiative and embrace self-direction. This is critical because you must learn to work with minimal supervision. You also need to learn social and cultural skills because you will be working in a diverse work environment. Then you must be productive and accountable and show leadership.” The best student from the GTP Class of 2017 was Jenny Aigbike, an Economics graduate from Ambrose Alli University. In an emotionladen acceptance speech, she said she was honoured to be named the best graduating trainee. “And it’s more of an honour, because I ran this race with nine other high-performing trainees, whom I love so much by the way,” she said. “I would first like to give glory to God Almighty for helping me through the programme; it was rigorous but it was worth it. I would like to appreciate my CEO, Mr. Oscar Onyema, and the entire management

team for setting up this programme to train young professionals for the capital market. This programme gave me the privilege to carry out my internship in companies like Africa Prudential Registers and I learnt so much.” She also noted that the programme helped her to develop very valuable skills in presentation, effective communication, team work and so much more. “I assure everyone here today that I will continue to be the best representation of myself, I will uphold the Exchange’s value and culture as I pursue its goals,” she said. Adeolu Towolawi, a Computer Engineering graduate of the University of Lagos, was one of the programme’s participants. He applied because he was interested in financial analysis and now, after the programme, he wants to use technology to build the capital market and make it more efficient. For Joshua Abhulimhen, a Chemical Engineering graduate of the University of Benin, the GTP gave him a rounded learning exposure. “The idea is to form and help shape you as individual,” he said. Other members of the GTP Class of 2017 include: Abimbola Akindolire, Adedotun Ogunbiyi, Adeoluwa Oni, Ayodele Okeniyi,, Damilola Eniola, Luke Ofojebe and Omosigho Otaregho.

IMAGES

T H I S D AY • WEDNESDAY, APRIL 19, 2017

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

(L-R) Speaker, Ogun State House of Assembly, Rt. Hon. Suraj Adekunbi, Ogun State Governor, Senator Ibikunle Amosun and the celebrant, Alhaji Mufasiu Amosun, at a party to mark the 70th birthday of Amosun, in Abeokuta... recently

L-R: The Provost, African Church Arch Cathedral Bethel, Lagos, Rev. Opeyemi Alo; Ven. Adebayo Ologun; Primate, Most Rev. Emmanuel Udofia; The Arch Cathedal People’s Warden, Col. Akinsola Aboyade-Cole (rtd) and Ven. Mobolaji Thompson, after the Easter Church Service at the Church in Lagos.....recently kolawole alli.

L-R: Chairman, Vitafoam, ,Dr. Dele Makanjuola; Former first Lady of Akwa Ibom State, Mrs. Uduak Umondak; Chairman, Board of School of Eloquence, Mr. Bayo Osibo; Dean of the school, Mr. Ubong Essien and Chairman of the occasion, Mr. Larry Izamoje during the commissioning of the School of Eloquence in Lagos... recently. kolawole alli.

L-R; Head, Marketing & Corporate Communications, FBN Merchant Bank, Lolade Sasore;, Vice Principal, Administration, Holy Child Catholic School, Ado-Ekiti, Sister Felicia Adeola; Managing Director, FBN Merchant Bank, Kayode Akinkugbe and , Human Resources, FBN Merchant Bank, Gbemisola Orimolade at the 2017 Financial Literacy Day celebration in Ekiti ...recently

L-R: Waste Management Division, Lagos State Ministry of Environment, Mrs. Laide Collins; Assistant Director, Health Education Unit, Lagos Ministry of Health, Mrs. Olubunmi Ilawole; Head, Waste Management Unit, Environmental Services Dept, Mrs. Tolu Adeyo; Brand Manager, Hypo, Ms. Jadesola Surakat; and Ace Presenter, Wazobia 95.1 FM, Omotunde Adebowale, aka Lolo1 during the Hypo Team Clean Up exercise on World Health Day in Lagos...recently sunday adigun

L-R: Marketing Manager, Deekay Group, Mrs. Okwudarue Margaret; Celebrity Guest, Mrs. Monalisa Chinda-Coker; and Retail Manager, Mr. Sachin Gupta, during Nexus brand shop Easter campaign, at Ikeja City Mall, Lagos… recently

L-R: Dean, Archbishop Vining Memorial Church Cathedral, Venerable Goke Agara; Bishop of Lagos West, Anglican L-R. Co-founder, AskNuma, Dr. Tobi Obisanya; Special Adviser to the Honourable Minister of Foreign Affairs, Seun Communion, Bishop Olusola Odebiyi; his wife, Lydia; Chancellor, Lagos West, Anglican Communion, Justice Omobo; Philanthropies Lead, Microsoft Nigeria, Olusola Amusan and Co-founder, AskNuma, Anthony Ajose at the Babasola Ogunade; and Chief Segun Osunkeye after this year Esther Church Service at Archbishop Vining launch of the AskNuma mobile healthcare application in Lagos...recently Memorial Church Cathedral, Ikeja, Lagos...recently yomi akinyele

T H I S D AY • WEDNESDAY, APRIL 19, 2017

BUSINESSWORLD R A t E S NIBOR OVERNIGHT 1-MONTH

A S

A t

A P R I L 1 9 ,

NIBOR 166.7500% 18.5671%

3-MONTH 6-MONTH

21.6018% 23.0226%

NITTY 1-MONTH 3-MONTH

Group Business Editor Chika Amanze-Nwachuku

Email chika.amanzenwachukwu@thisdaylive.com 08033294157

2 0 1 7

16.2494% 19.6985%

6-MONTH 9-MONTH

20.3309% 21.7643%

EXCHANGE RATE N306.05//1US DOLLAR* *AS At LASt FRIDAY

Quick Takes Fidelity Bank to Give Out N31m in Promo

With the emergency of another set of millionaires at the seventh monthly draw in the ongoing Fidelity Bank Plc’s ‘Get-Alert-I n -Million’ savings promo, the bank said it has N31 million more to spend as well as several consolation prices to give out in the remaining two months of the promo. At the draw conducted at the bank’s head office in Lagos recently, cash prices and 12 consolation prices were won by customers of the bank. In the cash category, Egwuonwu Izuchukwu of Enuowa branch, Lagos zone, won N3 million, while Mercy Azih of Minna branch, North zone, won N2 million. Others included: Shedrach Trinity Ovat, Abuja zone; Ndor Ifeyinwa Eunice,South South zone; Amarachi Edith Okonkwo, South East zone; and Adams Jamiu Alade, South West zone, N1 million each. Also, 12 consolation prices of fridges and generator sets were won by 12 customers of the bank in the zones. At the end of the draw, the bank stated that it had given out a total cash of N74 million and 84 consolation prices of fridges and generators to over 128 winners. Speaking to journalists on the essence of the promo, General Manager, Small and Medium Enterprises (SME), Fidelity Bank, Mr. Ken Opara, said the exercise was to keep to their own promise of rewarding their loyal customers for saving with the bank, adding that most importantly, it was to build financial inclusion. “We think that saving is a very important ingredient of investment, and if you don’t save you then will not be able to have anything for the rainy day.

ASHON’S COURTESY VISIT

L-R : Vice Chairman, Association of Owners of Stockbroking Houses of Nigeria (ASHON), Mr Akin Akeredolu-Ale; Founder, Honeywell Group, Oba Otudeko, Public Relations Officer, Mrs Ifeyinwa Ejezie, ASHON’s; Chairman, Mr. Patrick Ezeagu and immediate past Chairman, Mr. Emeka Madubuike during courtesy visit of ASHON’s executive officers to Otudeko in Lagos… recently

Survey Shows Positive Economic Prospects for Nigeria, Others Obinna Chima Business confidence in Nigeria and other economies around the globe rebounded in the first quarter of 2017 and is now at its highest level since the second quarter of 2015, according to the latest edition of the Global Economic Conditions Survey. The quarterly survey of global chief finance officers (CFOs) and finance professionals, conducted by the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA), has found that the prospects for Africa looked positive. The acting Head of ACCA Nigeria, Olatunji Adeleye, while commenting on the survey said: “Markets across Africa have been performing better

ECONOMY and the outlook is positive, even though growth is likely to remain relatively weak by the standards of the past decade. The GECS survey shows confidence is at its highest rate since the second quarter of 2015, with government spending, employment and capital expenditure indices all risen in the first quarter. “A key reason for this improvement in confidence is the recovery in oil prices and other commodities, which in turn has helped to lift export and government revenues, for key economies such as Nigeria. Another influence has been easing inflationary pressures, which has given central banks scope

to loosen monetary policy.” It noted that improving economic sentiment across the world had been spearheaded by an increasingly confident outlook in North America and reflected across leading developed and emerging markets. In particular, the reported showed that had been the fastest rate of growth in global trade since 2015. Yet the survey found that inflationary fears were putting pressure on global economies, with nearly half (46%) of firms reporting increasing costs as a cause for concern. Despite this, it further stated that there were significant improvements for employment and investment, with 22 per cent of firms planning

to create more jobs and raise capital expenditure (up from 16% and 14% respectively in Q4 2016). In response to the report, the Head of Business insights at ACCA, Faye Chua said: “The US economy has maintained an elevated level of confidence from Q4 in 2016, with 37 per cent of firms feeling more confident, although there was no uplift from the previous quarter. An expectation of increased infrastructural spending and tax cuts has contributed to a buoyant business mood even though they are yet to materialise into policy. “Inflation and currency fluctuations, however, are a Continued on page 24

Stocks Investors Beat Inflation amidst Bearish Trend Goddy Egene Amidst the bearish trend at the stock market, capital growth recorded by some companies at the end of first quarter (Q1) beat inflation figures and fetched investors positive return on their investments. While the Nigerian Stock Exchange (NSE) All Share Index, which is the benchmark gauge for the equities market performance ended the Q1 with a decline of 5.1 per cent, most of the other sectoral indices recorded worst decline. Similarly, most of the stocks are in red, with some recording depreciated above 30 per cent. When the

ECONOMY Nigerian Bureau of Statistics (NBS) released the inflation rate for March, it was 17.26 per cent, meaning that most investors in the stock market are counting losses. However, THISDAY checks revealed that some of the investors have witnessed positive returns on their investments amidst the rampaging bears. These investors recorded returns that are higher than the inflation rate, meaning that they are still recording positive returns on their investments.

Investors in Beta Glass Company Plc recorded the highest return of 46 per cent, followed by Airline Services and Logistics Plc with 42.4 per cent. Those in United Bank for Africa Plc (UBA) witnessed a growth of 28.2 per cent, while Okomu Oil Palm Plc fetched its investors 24.4 per cent. Stanbic IBTC Holdings Plc ended the March with 20 per cent, which is higher than the inflation rate. Some market operators said more stocks would provide positive returns to investors once the operating environment improves following efforts by the government. Market

analysts are also not surprised that stocks of UBA and Stanbic recorded positive growth in Q1 given their financial results for 2016. Both financial institutions recorded high profit growth compared to other banks. Stanbic IBTC recorded a growth of 51 per cent in profit while that of UBA rose by 32 per cent. The Group Managing Director and Chief Executive Officer of UBA, Kennedy Uzoka, had attributed the impressive results to focus on operational efficiencies. “Given the operating Continued on page 24

Union Bank Wins Award

Union Bank said it emerged winner in the “Best Rebranding” category in the maiden edition of the Corporate Communications Awards (CCA) held recently. The CCA is aimed at celebrating outstanding achievements in Nigeria’s Corporate Communications industry. The event brought together eminent personalities for an evening of celebration, fine music, and networking. Union Bank said it emerged winner via nominations by corporate communication professionals, public voting as well as deliberations by members of the Advisory Board which comprised of experts in the media, corporate communication and the academia. The bank’s new brand identity, which was unveiled in October 2015 has previously won two international Gold awards at the Transform Awards MENA 2016 for ‘Best Brand Development to Reflect Changed Mission / Vision / Positioning’ and ‘Best Visual Identity from the Financial Services Sector’. The Head of Corporate Affairs & Corporate Communication, Ogochukwu Ekezie-Ekaidem, who led the rebranding exercise for Union Bank said: “To be recognised by the Corporate Communications Awards for the rebranding of the bank is a fantastic validation of the hard work that went into the development and execution of our new identity. Our brand identity is a critical piece of Union Bank’s overall transformation and our goal was to depict a more contemporary and energetic institution while maintaining our authenticity and key elements of the brand heritage.”

Applications for Mastercard’s Initiative Open

Mastercard is calling for applications for its next Start Path Global 2017 class, the company’s global initiative to support innovative later-stage startups, who are reshaping the future of commerce. The programme is open to startups from Africa and across the world, who are rethinking banking and payments and have raised a significant seed or Series A round of investment. According to a statement, focus is being placed on Africa to ensure the continent is well represented, with startups from all corners of Africa encouraged to submit their application. During the six-month virtual programme, Start Path provides startups with the operational support, mentorship, and investment they need to develop the next generation of commerce solutions and grow their operations. Selected companies further benefit from the knowledge of a global network of Mastercard experts, access to Mastercard customers and partners including global corporate brands spanning banking, retail, tech and telecoms, and the ability to innovate on top of Mastercard solutions. “Fintech startups around the world are designing a digital future,” Vice President, Mastercard Start Path, Amy Neale said.

The current practice whereby the CBN is the sole driver of the FX market is not sustainable. The economy can’t afford to depend only on the FX supplies from the CBN. We need other sources of FX supply Director General of the LCCI

Muda Yusuf

T H I S D AY • WEDNESDAY, APRIL 19, 2017

BUSINESSWORLD SURVEY SHOWS POSITIVE ECONOMIC PROSPECTS FOR NIGERIA, OTHERS cause for concern. Forty of US firms are troubled by rising costs and twenty per cent by exchange rate movements. Despite the Fed’s interest rate hikes, borrowing costs in the developing world remain low, and the dollar is likely to continue growing in value. That could pose a challenge to US firms’ competitiveness, and the White House’s determination to reduce the trade deficit.” Furthermore, Adeleye added that policy-makers will have an important role in the coming months, “This quarter demonstrates there are signs that the global economy is returning to a degree of health after some very tough years: the IMF is expecting global growth of 3.4 per cent this year, the fastest rate since 2012. Yet in this period of fragile recovery, a number of policy interventions could have a significant impact. “The new US administration has proven moderate in trade policy so far but the potential remains that a more restrictive direction could be implemented. Similarly, whilst the UK and Eurozone have so far remained unaffected by the prospect of Brexit, that could change as Article 50 negotiations begin and the French and German STOCKS INVESTORS BEAT INFLATION AMIDST BEARISH TREND environment in 2016, I am very pleased with our profitability - an impressive 32 per cent growth in PBT to N91 billion - whilst we have also focused keenly on operational efficiencies, illustrated by the reduction in our cost-to-income ratio.” Uzoka said. He had assured stakeholders of better further performance, saying “As we implement our Customer First Philosophy, we are approaching 2017 with real optimism, especially with the outlook remaining positive in many of our markets, where we benefit from our increasingly diverse revenue streams. We reiterate our pledge to delivering excellent service to our customers, and remain committed to creating superior and sustainable return for our shareholders.”

NEWS

Analysts Project Positive Performance for Equities Market in April Goddy Egene Having recorded its first monthly gain in March, some market analysts have expressed optimism that the Nigerian equities market would sustain the positive performance in April. The Nigerian Stock Exchange (NSE) All-Share Index, which is the benchmark gauge for measuring the performance of the equities market gained 0.74 per cent in March, compared with negative performance in January and February. Reviewing the performance of the market for the month of March, analysts at Cordros Capital Limited, said improvement recorded last month would be sustained in April. “We expect the current improvement – albeit modest – in the macroeconomic environment, especially the currency space, will further stoke investor appetite, particularly in the event of no negative surprise(s). Better-than-expected first quarter results (we expect a few top names to announce results before the end of the month) may act as catalyst,” they said. According to analysts, the 0.74 per cent recorded last month was party driven by a mix of positive economic

and corporate news, saying the growth would have been higher but for sell off in the first half of the month. “The rebound, which could have been stronger, save for the selloff in the first half of the month, on the domestic bourse was primarily driven by a mix of positive economic and corporate news. Recall that we had guided to the potential

impact of better-than-expected fourth quarter (Q4) earnings and significant improvement in the Naira exchange rate in our review of markets in the month of February,” they said. The analysts explained that specifically, a number of manufacturing companies (Lafarge, Dangote Cement, Cement Company of Northern Nigeria, Unilever, and

Cadbury), released their full year 2016 results, and surprised investors with massive upturns (compared to Q3) in their final quarter performances. “On the economic front, investors found respite in the less-apprehensive macro space. Indeed, risky assets benefitted from a confluence of positive events ranging from: the release of Nigeria’s Economic

Recovery and Growth Plan by the Ministry of Budget and National Planning; a moderation in February inflation rate (to 17.78 per cent, from 18.72 per cent); steady accretion to the foreign reserves, which averaged $30 billion during the month; the naira strengthening to record-high (N375/United States dollar) in the parallel market,” they said.

WE ARE GLAD YOU CAME

R-L: General Manager Legal, INTELS Nigeria Limited, Mr. Mike Epelle; Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote; Head Administration of INTELS Nigeria Limited, Mr. Chibuisi Onyebueke, and Director, Planning, Research and Statistics of NCDMB, Mr. Patrick Obah, when Wabote visited INTELS and other companies at the Onne Free Zone…recently

Niger Partners NCRI to Boost Rice, Sugar Production Laleye Dipo in Minna The Niger state government is to partner the National Cereals Research Institute Badeggi (NCRI) to boost rice and sugar cane production during the next farming season. The Commissioner for Information Mr. Jonathan Tsado Vatsa made this known over the weekend when he led a government delegation to pay a courtesy visit on the Executive

Director of the NCRI Badeggi Dr. Samuel Agboire on behalf of Governor Abubakar Sani Bello. He said: “We have so many things to gain from the Institute and we are willing to partner with the NCRI. We want to close the gap between us and the institute so that our farmers can produce the best crops especially with varieties of seedlings. “As we go into partnership with them, they will give us improved seeds

of rice, soya beans, sugar cane and other cereals, we will in turn supply these seeds to our numerous farmers at the end of the day we should be able to feed the country and even the whole of West Africa. “We have the human resources, the farmlands and by the time we get the improved seedlings Niger will be the state to beat. Governor Abubakar Sani Bello is ready to provide the facilities for the

irrigation farming”. Earlier, the acting Executive Director of the NCRI, Agboire had called on the state government to as a matter of urgency take irrigation farming seriously if it must take its rightful position as number one in rice production in the country. Agboire said: “We have the potentials to support the state; we coordinate activities of States in the north central

zone where Niger state is. Light and water are our major problems. If we must compete favourably with other states, then irrigation facilities must be revived”. He argued that for the state “to be the number one producer of rice in the country, irrigation facilities must be put in place”, adding that the NCRI had 70 rice varieties, which could benefit farmers in the state.

NCRIB Boss Counsels Insurance Operators on Professionalism Ebere Nwoji

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)

President of Nigerian Council of Registered Insurance Brokers, (NCRIB) Mr Emmanuel Okunoren, has counseled insurance operators in Nigeria to imbibe spirit of professionalism and play according to global best practices to be able to benchmark themselves with foreign investors that are trooping into the industry in recent times. Okunoren, who gave the advice in a quarterly media briefing organised by the NCRIB in Lagos, observed that in recent times, the Nigerian insurance sector, has become very attractive to international investors whom he said are making silent but impressive in roads into the market. “There are strong indications that the Nigerian insurance industry is becoming more and

more attractive to international investors who are making silent but impressive in roads into the market. Though this is quite cheering, it nevertheless behoves operators to be professional and continually play according to global best practices which would be benchmarked by the new investors,” Okunoren said. The NCRIB president noted that it is not the best of the moment for Nigeria economy though recent reports have indicated that there is a ray of hope in the horizon. He said it was quite saddening that the insurance industry is one of the greatest recipients of the recessive economy in Nigeria, in view of its poor acceptance by the public and the low appreciation of its cardinal place in people’s order of priorities. “It is a known fact that

insurance is often made the least of consideration and as such suffers greatly at a time of economic recession like this”. He vowed that the trend must definitely change with the brokers’ sustained tempo of awareness creation and adherence to ethics and professionalism. He said the NCRIB Council, is unrelenting in sustaining the tempo of public awareness about insurance broking through its ongoing Corporate Visibility Project. He informed that the council has set up a committee, known as Financial and General Purpose Committee which in tandem with the Publicity are implementing the Project. He said in the course of the modest step, the council, has come to the realisation that the people need insurance more this period of

economic challenges adding that as they do, their ability to replace lost assets becomes more challenging than in period of plenty. “The same also goes for government which needs to factor insurance into its calculus of economic recovery. This behoves the insurance industry the responsibility to sustain its campaign for insurance awareness in the country”, he said. Okunoren, expressed his appreciation towards the industry regulator’s (National Insurance Commission)renewed efforts in collaboration with the Nigeria Insurers Association (NIA) in reenergising the campaign for enforcement of compulsory insurances in Nigeria as enshrined in Section 64 and 65 of the Insurance Act. He said there is no gain

saying that the effort will enhance the industry’s contributions to the nation’s Gross Domestic Product, as well as reduce exposures to risks by members of the public who ingress and egress in the public facilities. He expressed optimism that the consideration given to the Nigerian Fire Service in the scheme of things will assist the institution in undertaking its statutory responsibilities or primary roles of fire prevention without recourse to government as it is the practice at the moment. “This is the practice in most advanced countries of the world and it is my hope that the synergy would be sustained. Suffice it to say that the NCRIB will also continually collaborate with such noble intentions of this kind as they unfold.

T H I S D AY • WEDNESDAY, APRIL 19, 2017

BUSINESSWORLD

NEWS

Linkage Assurance Modifies Third Party Motor Insurance Policy Ebere Nwoji Linkage Assurance Plc has modified the popular Third Party Motor Insurance policy through the addition of protection and cover for vehicle owners. The company tagged this innovative special brand ‘Linkage Third Party Plus’. This according to the company, enhances the consumer benefits in the existing compulsory Third Party Motor Insurance Policy under the Insurance Act 2003 . The existing compulsory Third Party Motor Insurance Policy does not cover the insured and his/her motor vehicle. It covers the insured’s legal liability for the damage the insured has caused to a third party only – injury, death, and/or property damage caused to a third party in the event of an accident caused by or arising out of the use of the insured vehicle. Premium for this policy is N5, 000.00 and N7, 000.00 for private and commercial vehicles plying the Nigerian roads respectively. However, the new product

(‘Linkage Third Party Plus’), recently unveiled by Linkage Assurance, proffers an additional coverage (own damage cover) for the insured. “This is an innovative insurance solution available only from Linkage Assurance PLC as a budget cover for private vehicles, said the company’s Managing Director, Pius Apere. Speaking further on the uniqueness of the Linkage Assurance Third Party Motor Insurance brand, Apere, said: “This new product covers all the benefits under the existing compulsory “Motor Third Party Insurance Policy” as stated above, plus the additional benefit of own damage protection. Thus, the policy provides additional cover for the insured to a maximum sum of N250,000.00 for damage to his/her own vehicle in the event of an accident. According to him, the premium for the policy is N10, 000.00 per annum, just an additional N5,000.00 to the cost of obtaining the existing

compulsory “Motor Third Party Insurance cover for private vehicles. “This is an invaluable, budget friendly, new product designed to meet the needs of all Nigerians particularly in this period of economic recession, says Apere,. He further said that the product, has been developed with Nigerians in mind, having realised that many may not have the funds to take the Motor Comprehensive Insurance Policy for their vehicles at this time of economic recession, he added that with Linkage Third Party Plus, you are able to get own damage cover up to N250,000.00 for just N10,000.00 premium per annum. According to him, the product is also highly suitable and appropriate for policyholders currently having the compulsory Third Party Motor Insurance Policy because with just an additional N5,000.00 premium payable, they would also have own damage cover for a maximum sum of N250,000.00.

Ping Express Expands Money Transfer Services to Europe Ping Express, a leading money transfer provider, has extended its instant money transfer service to Europe including Belgium, Germany, France, Holland, Austria and Italy. The management of the company took the decision to making it easier for Nigerians and Ghanaians living in these countries to quickly and securely send money to their beneficiary’s bank account or airtime top-up to mobile phones. A statement issued by the oraganisation in Lagos said with Ping Express, users can send money on-the-go enjoying the benefit of convenience, through a mobile phone, tablet or computer and have money directly deposited into their loved ones’ bank accounts instantly.

The statement quoted the co-founder, Opeyemi Odeyale, as saying that “We are delighted to be able to extend our first class service to African Diasporas in Europe and to guarantee quality of service, our customers worldwide now have access to our 24 hours’ customer care support via email or telephone.” The platform uses a transparent system with clearly displayed and guaranteed exchange rates giving the sender the freedom to decide how much to send and the peace of mind that comes from knowing exactly when and how much will be received. The company also offers payout options to other countries including Ghana, Nigeria, USA and wider Europe as a solution

for businesses requiring retail distribution in those locations. In a related development, the transaction platform celebrated an addition to the family in the person of Akinmayokun Awodumila, the musical maestro popularly known as May D who became a brand ambassador for the company’s low cost online money transfer service. Ping Express CEO and co-founder, Anslem Oshionebo, said: “Building on our success so far in the United States, United Kingdom and Canada and based on demand from our existing customers, Europe is the first of many more market we will be spreading our tentacles to this year, with plans to expand all over Africa.

APCON Moves to Stop Unwholesome Advertisements The Advertising Practitioners Council of Nigeria (APCON), has commenced a task force enforcement exercise to stop further exposure of unwholesome and unapproved advertisements in the media. According to a statement signed by Assistant Director, Operations and Special Duties at APCON, Mr. Joe Eugene Onuorah, the exercise, which commenced in Abuja has so far been carried out in Minna, Jos, Katsina Ilorin, Onitsha/ Nnewi and is planned to extend to several other cities across Nigeria. The statement indicated that in the course of the exercise, advertisements exposed on outdoor structures without satisfying the regulation requiring advertisements to be submitted for vetting and approval by the Advertising

Standards Panel (ASP) will be blanked out. The exercise is said to also involve enlightening advertisers, media owners and the public on the regulatory responsibilities of APCON as well as on the purpose and procedures for compliance with advertising regulations. Incidences of indiscriminate exposure of advertisements, some of which contain misleading and unwholesome messages, have caused APCON serious concern. These unprofessional conducts have been traced mainly to persons and organisations that are not licensed to practise Advertising in Nigeria. A large percentage of the advertisements targeted in the exercise are first party advertisements usually produced and

displayed by business owners without the use of advertising professionals. The advertisements typically employ graphic designs, images and messaging which attract, persuade or invite patronage for the businesses advertised. Some of them make claims requiring substantiation. The exercises do not affect regular business signages which are typically identification or informational signs without persuasive illustrations and claims. It stated further that the task force enforcement exercise is one of the measures to stem incidences of misleading, deceitful, offensive and other forms of spurious messages and protect members of the public from the harmful effects of such unwholesome and unprofessional advertisements.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Copycat Syndrome – Good or Bad?

My daughter invited me to a Google dinner as her plus one two weeks ago. I now suddenly find myself in the season where my daughters invite me to events as their companions. The reverse was the case a few years ago. I jumped at the opportunity to attend this particular dinner, when I heard the name Google, as I will soon launch a technology powered business of my own (a story for another day). I wanted to start spending time and hobnobbing with technology egg heads. At the dinner, we got into the conversation of ‘what do you do?’ and I found out that I was seated beside a lady entrepreneur who had launched a technology driven business to address some of our everyday requirements, and other Google staff. When it got to my turn to introduce myself, I told them that I was working on a technology based project which I was not ready to talk about at the time. The lady beside me said, “please share your idea, I do not understand why people are always afraid to share details of the ideas or projects they are working on. Everybody is busy on their own project and nobody is interested in stealing or copying others projects.” I humbly thanked her and said, “while I respect your opinion, I still do not want to share the details of my project”. This conversation got me thinking. I asked myself whether I was being paranoid. Was I thinking too much of myself or did I think my project was so wonderful? I then compared my project to other projects in Nigeria, how ideas have been copied by various people or organisations. Let’s look at a few examples. Ndani TV which started as a quarterly e-Newsletter by GTBank and morphed into its online platform. “Skinny Girl in Transit” a signature programme has gained acceptance and taken the popularity of the platform to a whole new level with global engagement. People across the globe talked about the programme and got hooked. They are now eagerly looking forward to season four. Red TV by UBA and Accelerate by Access Bank have also been launched. I remember when the Lagos Fashion and Design Week started, which was meant to be a replica of the New York, London and Paris Fashion week. We now have the GTBank Fashion Week. What about food and drinks festivals under different umbrellas and name variations – Lagos International Food and Drink Festival, Taste Off Nigeria Food Festival, Eat Drink Festival, GTBank Food and Drink Festival, who first started this food festivals? Will be good to know as establishing who started is confusing. Oded Shanker, a Fisher University Professor in the USA, and author of “Copycats: How Smart Companies Use Imitation to Gain Competitive Edge” argued that “just copying a market leader isn’t clever, instead do what they do better and with a different spin”. Shanker’s argument has played out for the most part where copycats exist. Shanker seems to support the idea of copycats. Global examples will also attest to this, in this case Apple’s IOS and Androids. The claim is that Apple came first and Android followed and improved on the following features according to CNN Money who compared both products using these parameters: login, make a call, check the time, use apps, get and manage notification, listen to music and

podcasts, check mail, get directions, find and manage contacts, search, set phone to vibration, talk to your phone, and send text. Android ranked higher than Apple. Crambler an online site also gave ten reasons why the Android is better than Apple. Categories used were: choice, customisation, hardware, the Google Play Store, widgets & multitasking, expandable memory, user serviceability (remove battery), universal charges, durability and other features. Their conclusion was though Android phones and iPhones have their advantages and disadvantages, the Android’s advantages overpowered the advantages you get from the iPhone and gave reasons to back up their assertion. It therefore appears that copying is not such a badbusinessstrategy. LukeJohnsonalsosaid,“true entrepreneursaresupposedtoshunimitationand try to be authentic and original. I am not convinced this strategy makes commercial sense. Indeed the merits of being a copycat are underrated.” He goes on to say that “after all, every business is derived from something that proceeded it – what lawyers call prior art. The level of replication in any so-called new product or service is simply a matter of degree. Unless you specifically infringe on patent, design, trademark or copyright or are blatantly passing off a rival’s goods as if they were yours”. Some will say Johnson’s opinion lack morals. But, let’s look at it critically; there are very few ideas that are truly authentic and original. Many entrepreneurs find out that it is much quicker, cheaper and lower risk to mimic than to start something from scratch. Luke says, “entrepreneurs need to be humble enough to know when a legal version of someone’s model is better than anything they can devise. I would generally prefer to back a replica of a highly profitable and thoroughly tested business idea – but in a new territory – than invest in a genuinely pioneering idea. What we need to understand about the copycat syndrome:

• Note that if you are first to market with any new idea or innovation, be rest assured that the moment you start to achieve traction and success it will be copied. Today we have copycats of Uber in the market – Lyft in the US and Taxify, Swiftly, Redcab amongst others in Nigeria. • Competition exists in all business markets. There is an advantage to this for your business. Competition keeps you on your toes, makes you innovate and differentiate your service or products which will make you more successful. •Copycats are inevitable and unavoidable. Your approach to relating with them will determine your continued success or demise. • Remember that imitation is the greatest compliment and flattery. When people copy you, itmeansyouareontosomethinggreat. Anybody copying you is giving you accolades. In conclusion, and a message to myself to address my paranoia, let’s relax, work harder, say thank you, continually improve our service or offerings, improve our customer experience, differentiate, ignore copycats and not allow them steal our mojo!!! – Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)

T H I S D AY • WEDNESDAY, APRIL 19, 2017

BUSINESSWORLD

EQUITIES WATCH

All Eyes on Mobil Oil Goddy Egene writes that stakeholders are waiting for the value NIPCO will add to Mobil Oil Nigeria Plc, following its acquisition by NIPCO

The news of the acquisition of the 60 per cent shares of ExxonMobil Corporation’s stake in Mobil Oil Nigeria Plc by NIPCO Plc came to some capital market stakeholders as a surprise. The surprise was not that ExxonMobil divested its stake in Mobil Oil but what beats the imagination of some investors and stock market operators was the choice of NIPCO Plc. Although NIPCO is one of the leading integrated oil and gas firms in Nigeria, it is not very popular among investors and petroleum products consumers because of its limited spread. Besides, the company is not listed on the Nigerian Stock Exchange (NSE) as such very little is known about its financial operations and capacity. However, the company was chosen by ExxonMobil to take over its stake in Mobil Oil. NIPCO had executed a Sales and Purchase Agreement with ExxonMobil on Monday 17th October, 2016 for the acquisition of the 216,357,157 shares. The Acquisition Following the signing of the sales and purchase agreement, the Chairman/Managing Director of Mobil Oil Nigeria, Adetunji Oyebanji said NIPCO was acquiring those shares for a consideration of $301 million subject to price adjustments for dividends and other factors. Considering the market capitalisation of the Mobil Oil, which stood at N87 billion at that time, NIPCO was acquiring the 60 per cent at a very high premium. The Managing Director of NIPCO, Mr. Venkataraman Venkatapathy had said the company considered this acquisition an important synergy. “It is part of our strategic move to support NIPCO’s continuous growth and expansion of its Nigerian retail footprint. We are confident of adding tremendous value to Mobil Oil Nigeria and likewise Mobil Oil will add a huge value to NIPCO. In furtherance of this value addition, NIPCO will continue to maintain the Mobil brand on its retail outlets as well as continue to blend and sell the Mobil brand of lubricants under Branding Licence (s) from ExxonMobil,” he said.

According to him, Mobil Oil will continue to run as a separate, distinct and independent company, from NIPCO Plc, each with its own CEO who will report to its board of directors. “In furtherance of this transition, Mobil Oil will continue to maintain the Mobil brand at its retail outlets as well as blending and selling Mobil brand of lubricants under branding licensee (s) from ExxonMobil. In essence Mobil Oil will continue as usual and therefore the change should be smooth and seamless,” he added. Venkatapathy expressed profound gratitude and appreciation of NIPCO to ExxonMobil for selecting the company as the preferred bidder for the acquisition of the shares. “We wish to give every assurance to ExxonMobil that having entrusted us with this invaluable asset (Mobil Oil), we will ensure full brand compliance with ExxonMobil’s global standards as well as rigorously sustain and follow ExxonMobil’s code of conduct/ethos and operational excellence,” he said. Concluding the deal The process of consummating the acquisition was concluded late March following the crossing of shares to NIPCO on the floor of the NSE. While the Securities and Exchange Commission (SEC) approved the deal, Cordros Securities Limited acted as the execution stockbroker to both ExxonMobil Oil Corporation and NIPCO Investments Limited for this transaction. Market operators sad NIPCO’s acquisition of the majority stake in Mobil will serve as a significant breakthrough, which could bolster investors’ confidence and appetite in the sector, following the deregulation initiative of the Federal Government of Nigeria in the downstream oil and gas industry. “Also, this strategic move by NIPCO will ensure the continuous growth and expansion of its Nigerian retail footprint, increase efficiency gains (economies of scale) whilst adding tremendous value to the downstream sector as a result of this notable transaction,” an operator said.

Following the acquisition 60 per cent acquisition, NIPCO is required by the Investment and Securities Act, to make a takeover bid to all minority shareholders of Mobil Oil Nigeria Plc. Already, the Board of NIPCO is said to have already made an application to SEC for a takeover bid of minority shareholders stake in Mobil Oil and has received SEC’s “Authority to Proceed” with the takeover bid at the same price of N417.12 the acquisition was carried out. NIPCO Assures Stakeholders While investors are waiting to see what will become of their investments in Mobil in the years ahead, Venkatapathy has assured them that they will benefit from the acquisition of Mobil Oil Nigeria Plc. Speaking during a visit to the floor of the NSE the NIPCO boss said he was confident that investors would benefit greatly from the deal, noting that improved performance of the company as an integrated oil firm remains their priority objective. “As efficient oil marketing company, NIPCO acquisition of MOBIL majority shares would bring economy of scale to the firm, benefit Nigerians and grow the economy. We would be adding new businesses and works towards increasing the production of its lubes which has remained a cherished brand in the lubricant market,” he said. The MD boss explained that to all discerning investors the deal is a big welcome to a new dawn and new era that will usher in stability, prosperity, sustainability and growth in the downstream sector in particular and the industry in general. According to him, the acquisition, which marks their avowed resilience of the Nigerian economy will no doubt enhance the continuous growth and expansion of their retail footprint in Nigeria as well as increase value and confidence to investors. “The deal will definitely make the NIPCO group bigger not only due to the acquisition

but also the additional new business lines to be introduced to make the company one of the most proficient and best run out fit in the industry. The group overall goal is to increase Mobil presence and efficiency across the nooks and crannies of the country and expand its retail footprint to a minimum of 300 at the earliest and make it a vibrant one,” he added. Ventakapathy also assured the NSE and all other regulatory agencies that the expected due diligence will be implemented to the letter in all the company’s transactions in the market and further spur investors’ confidence in the new management of the company. He disclosed that in the landmark agreement signed with ExxonMobil, NIPCO would continue to use the Mobil brand and also continue to market Mobil lubricants. Financial Performance A look at the financial performance of the two companies showed that Mobil Oil has been operating more efficiently given its profit margin. It is a profitability indicator, which measures how much of revenue is end up as profit for the company based on its cost management efficiency. And for instance, for the year ended December 31, 2015, NIPCO’s profit margin was 1.2 per cent, while that of Mobil Oil was 7.4 per cent. Specifically, NIPCO Plc reported a revenue of N115 billion for 2015, showing a decline of 20 per cent from N145 billion in 2014. Profit after tax fell from N2.31billion in 2014 to N1.42 billion in 2015, showing a profit margin of 1.2 per cent in 2015. On the other hand, Mobil Oil ended 2015 with a revenue of 64.2 billion and profit after tax of N4.8 billion, leading to a profit margin of 7.4 per cent. In 2016, the company improved its revenue to N94.1 billion while profit stood at N8.1 billion, translating to profit margin of 8.6 per cent. As NIPCO takes over the operations of the company, stakeholders are awaiting how Mobil Oil performance will be in the years to company.

T H I S D AY • WEDNESDAY, APRIL 19, 2017

BUSINESSWORLD

ANALYSIS

In Pursuit of FX Speculators Obinna Chima highlights the outcome of a recent meeting which for the first time in several months saw officials of the Central Bank of Nigeria, Department of State Service, the Police, and over 3,000 directors of Bureaux de Change operators under one roof to discuss ways to ensure that the stability in the foreign exchange market is sustained

CBN Governor, Godwin Emefiele

Over 3,000 Bureaux de Change (BDC) directors held emergency meeting in Lagos, on how to rescue the naira. The meeting, with theme: ‘Role of BDCs in Price Stability- Realities and Compliance’ was organised by the Association of Bureaux De Change Operators of Nigeria (ABCON) and attended by representatives of the Central Bank of Nigeria (CBN), Department of State Service (DSS) and the Police. The directors were advised on the need to follow sound corporate governance practices and take direct charge of their businesses as they will be liable for any breach of CBN’s operating guidelines. The participants condemned the role of foreign exchange (forex) speculators in naira crisis and agreed to tackle the menace headlong to save the local currency from further depreciation. The ABCON President, Alhaji Aminu Gwadabe, in his opening remarks, said CBN was determined to raise liquidity in the forex market provided the BDCs operate within set guidelines. He said: “The CBN has assured us that it will continue to inject more liquidity in the forex market, but BDC operators must shun speculations and other malpractices. We are expected to comply with the Know Your Customer –KYC directive of the CBN. Stiff sanctions await any operator that breaches the CBN’s set rules.” Recent investigation by THISDAY showed that unrelenting currency speculators and traffickers have continued to evolve strategies to ensure that they frustrate the CBN’s objective of achieving exchange rate stability and covergence in the economy. THISDAY investigation showed that a lot of currency speculators that got their fingers burnt as a result of the new foreign exchange (FX) policy and the sustained dollar injection by the central bank since February are still resistant as they have continued to devise strategies to manipulate the market. A currency trader who pleaded to remain anonymous, alleged that some currency speculators now connive with bank officials to generate fake air travel tickets, just to enable them access personal travel allowance (PTA). These funds are thereafter sold on the parallel market. Also, THISDAY findings showed that another factor responsible for the flunctuation of rate

Gwadabe

on the parallel market in the past few days was that lot of illicit funds in the economy were being used to bet on the forex market. In addition, THISDAY also learnt that due to the anticipation of a devaluation of the naira exchange rate in the short-term, a lot of banks have been devising strategies to hold back their dollar cash. Furthermore, it was learnt that the sale of tickets at discounted dollar rate by some airlines also contributed to the surge in dollar demand observed in the market recently as passengers had to resort to the blacblanket to buy dollars. Gwadabe, who confirmed that the activities of speculators and currency traffickers was having a negative effect on the market. “We believe that there are lots of illegal money in any economy being used to distort the market. When you have such funds that cannot pass through the banking system, if they tell you that the naira exchange rate is N500/$1, you can buy, just for you to frustrate the system. “Most of the funds that cannot be kept in the banks have found their way in the parallel market. Also, I agree that the speculators are still strategising because they have lost money and so they can’t just go away like that. “Sometimes they (currency speculators) come up with propaganda such as: the CBN is not selling dollars to BDCs, CBN cannot sustain this policy, etc, and such information affects rate,” the ABCON boss said. Similarly, an analyst at Ecobank Nigeria, Kunle Ezun, who agreed that the activities of currency speculators was responsible for the volatility on the parallel market, advised the central bank to “take its mind off the parallel market.” “It is a market they can’t control. It is an informal market. There is no way the CBN can control the naira exchange rate on the parallel market because they (CBN) don’t even know the depth of that market,” he said. Bridging the Gap Between Official/ Parallel Market Rates Gwadabe urged the directors to help CBN reduce the gap between the official and parallel market rates. “As a Nigeria, anytime I see the gap increasing, I become concerned. These gaps are created by currency speculators’

compromise. Speculators are the biggest challenge facing the naira,” he said. He said BDCs are better positioned in networking, convenient and more effective than the conventional banks in the elimination of rates disparity. Highlighting the dangers of speculation, he said any money made through such practices will not help the economy. “Speculation creates inflation, and the funds made through illegal means will also be spent on the problems they have created. Anytime the naira weakens, the economy suffers and there will be job losses and rise in crime rate,” he said. Continuing, he said: “ABCON will continue to update all directors on CBN’s and other regulatory agencies’ forex sale requirements. We have a duty to reverse the negative perception many stakeholders’ have on our operations by complying with regulatory guidelines”. Gwadabe said the BDCs are in the watch list of the International Monetary Fund (IMF), World Bank and United States of America because of the critical role they play in economies of nations. He cited cases where the BDC operators, had in the past, helped the CBN to strengthen the naira. “We saw the naira appreciate from N520/$ in late January to about N380/$ after the CBN resumed sale of forex to BDCs. That was what everyone needed to know that BDCs have major role to play in naira’s stability. We have chosen to support the CBN and be part of the positive story surrounding the naira. We are happy that our contributions are paying off,” he said. According to him, fall in crude oil prices and exit of foreign investors, triggered drop in dollar inflows and adversely affected naira’s value. Also, the South-west Zonal Chairman, ABCON, Taiwo Ebenezer, said BDC operators are willing and ready to get information that will improve their business and economy. He said the overall interest of BDCs is to improve the status of the naira, because the decline in value of the naira leads to higher inflation. Ebenezer however, urged the CBN to take steps that will ensure that only BDCs sell Personal Travel Allowances (PTAs) and Business Travel Allowances (BTAs). He said:

“If the BTAs, PTAs, and tuition are left in the hands of BDCs, we will be held responsible for any abuse. But today, BDCs are not the only players in the market as the banks also operate. It is important to leave this segment of the forex market entirely for BDCs,” he advised. One of the BDC operators, Folashade Adebayo, said all operators should unite against the forex speculators. “The speculators are giving us bad name and killing the naira. Let’s unite and chase them out of the market and save the naira. The challenge is how do we ensure that when speculators buy from us, they do not go to the back and sell to parallel market operators? We must devise means to stop them before they stop us,” she added. Another BDC operator, Tony Emeka, praised ABCON leadership under Gwadabe for constructively engaging the CBN and helping to raise weekly allocations from $8,000 to $20,000 even as the volume is expected to hit $40,000 in the coming weeks. “It is not a simple task. ABCON has made us proud, and we have confidence in this leadership. We also want ABCON to engage CBN to review transaction margin. We need more dollar allocations from the CBN to force rates down,” he said. Gwadabe called on security agencies to curb illegal currency transactions at Nigerian borders to strengthen the naira adding that recent surveillance of the nation’s boarders by combined teams of security agencies helped to cut frivolous demand for the dollar by 80 per cent. Gwadabe praised CBN for the unveiling Small and Medium Enterprises (SMEs) Forex Window. The acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor recently said the new window for SMEs provides small scale importers an avenue to source forex to boost their respective businesses through the importation of eligible finished and semifinished items. He, however, restated that no SME will be allowed to transact more than $20,000 per quarter. Equally, other representatives of the CBN, DSS, and Police agreed that there was need for all stakeholders to stop forex speculators from destroying the naira.

T H I S D AY • WEDNESDAY, APRIL 19, 2017

BUSINESSWORLD

ANALYSIS

Empowering Retail Investors through Savings Bonds The listing of the Federal Government Savings Bond on the Nigerian Stock Exchange will create liquidity and attract more retail investors, writes Goddy Egene Retail investors in the nation’s capital market will always remember the month of March 2017. That was the month they had the opportunity to enjoy the benefits of investing in government’s bonds. Since 2008 when the equities market suffered a major crash, many retail investors have been looking for stable investment that can preserve their capital. Bond investment provides that opportunity. However, considering the huge amount needed to invest in bonds, retail investors have been shut out for a very long time. However, the opportunity to enjoy the benefits of investing in federal government’s bonds came in March, when the Debt Management Office (DMO), began offering the Federal Government of Nigeria (FGN) Savings Bond. The FGN Savings Bond is part of the government’s programme targeted at the lower income earners to encourage savings and also earn more income (interest) when compared to their savings accounts with banks. The first savings bond opened for subscription on Monday, March 13, 2017 and ran for 5 days. The bond had minimum subscription of N5,000 and a maximum of N50 million. It has a fixed interest rate that will be paid every quarterly and has a tenor of two to three years. At the end of the offer, N2.068 billion was raised from 2,575 investors. The purpose of the bond is to deepen the national savings culture. It is aimed at providing opportunity to all citizens, irrespective of income level, to contribute to national development. It will enable all citizens participate in and benefits from favourable returns available in the capital market and diversify funding sources of the FGN. DMO Explains Benefits According to the Director General of DMO, Dr. Abraham Nwankwo, the floating of FGN Savings Bond was to encourage the public, especially low income earners to save, invest and earn commensurate returns from their investments. He said the new instrument was part of the strategic plans for 2013-2017 with the objective to deepen and broaden federal government’s securities market in order to sustain the development of other segments of the bond market. He said the savings bond would provide an opportunity for Nigerians across all income segments to invest in bonds. He disclosed that bond would be announced by the DMO on the first working day of every month or as may be determined by the organisation from time to time. Nwankwo said: “The rationale for the issuance of FGN Savings Bond are to deepen the national savings culture, diversify funding sources for the government and establish a benchmark for other issuers of bonds in the country. It offers guaranteed returns, helps to stimulate and deepen the savings culture among households and encourage financial inclusion. It enables individuals to enjoy those benefits which accrue to big investors in the capital market. Savings bond also helps to increase access to funds available for investment in the economy, thereby floating gross capital formation and increase in output within an economy. He said: “Investors can subscribe through the over 100 stockbroking firms trading on the floor of the Nigerian Stock Exchange (NSE) and accredited by the DMO to act as distribution agents. Every month, subscription shall open same day the price is announced and investors will have five working days to put in their subscription through the distribution agents.” Listing of the Bond on NSE Although many investors and stakeholders saw the introduction of the savings bond as

NSE floor

a positive development, some of them were apprehensive over how they can get liquidity from their investment if they needed to exit before the two year maturity period. However, the fears and apprehensions were put to rest when the bond was listed on the Nigerian Stock Exchange (NSE) on March 29, 2017. Speaking during the listing of the bond, Nwankwo said this was the first time that the federal government ensured that the common Nigerians participate in a bond and about 75 per cent of these deals were from ordinary Nigerians. “The savings bond, the first of its kind in Nigeria, was opened to investing public by way of offer for subscription over a five day offer period starting from Monday, March 13, 2017 to March 17, 2017 and N2, 067, 961,000 was raised from the retail market at 13.01 percent coupon. “These are the people that subscribed for the offer. We are so excited and happy that Nigeria has broken the jinx to make sure that everybody in the country is part and parcel of activities in the capital market. And that is very consistent with the plan of the federal government. I repeat that whatever progress Nigeria is making should be inclusive and ordinary people should be part and parcel of it so we are happy that this aspect of the change agenda has been implemented and this will continue every month,” Nwankwo said. According to him, the funds realised from the offer will be used to fund the budget deficit, and refinance matured existing/ domestic bonds. He explained that the bond refinancing makes it possible for the FGN Savings Bond will continue in perpetuity, and on monthly basis. “The April 2017 offer will coming up on April 3, and it will continue every first week of the month. Nigerians will continue to benefit from the FGN Bonds. We congratulate the NSE

for their continued initiative and operation for helping to make the listing a success,” he said. Commenting on the listing, Executive Director, Capital Markets, NSE, Haruna Jalo-Waziri, said: “We are pleased to list the series 1 of this innovative investment offering that caters to the retail segment of the Nigerian capital market.” “The off take of the first tranche underpins the efforts of the Federal Government to continue to work with stakeholders to deepen the capital market whilst delivering value to investors at all income levels. We look forward to continue the collaboration with DMO to list subsequent series of the Savings Bond.” Boosting Savings Meanwhile, analysts at FSDH Research hailed the introduction of FGN Savings Bond as part of the efforts of the government to increase the Gross National Savings (GNS). They, however, said the current high unemployment level in the country, coupled with a drop in disposable income and the erosion of the purchasing power of Nigerians, have all contributed to low personal savings. The analysts therefore urged the federal government to provide fiscal incentives such as removal of taxes on certain classes of investment schemes that encourage savings that will boost Nigeria’s GNS. It is a consensus that all stakeholders that in the Nigerian economy will benefit if there are adequate savings that can be pooled together to fund long-term projects. However, Nigeria has a low GNS when compared with most countries around the world. FSDH said to stimulate personal savings, the savers must be assured that the real value of their savings will be preserved in the medium to long-run. “In addition, there must be safe investments

to attract savings ensuring that the returns earned preserve real value for the savers. An environment of high inflation rate discourages savings and promotes current consumption. To stimulate business savings, the business environment must be competitive to enable businesses operate in a profitable manner. As businesses can fund future expansion from business savings (retained earnings), it thus increases their ability to raise future savings,” the analysts said. They added that government and its agencies must be disciplined in creating institutions and structures that will promote government savings. “This can happen through careful planning at the central and state levels. In the last few years, the operators in the Nigerian financial industry have created a number of products to stimulate personal savings. Some of these products are mutual funds and other wealth management products. The regulatory authorities in the financial market have also strengthened their regulatory and supervisory roles in order to protect savers and investors in the financial market. Indeed the Nigerian financial market is in a safer and stronger position than before to attract savings to investments that provide attractive/higher returns, than the inflation rate,” they said. The analysts noted that the harsh business environment resulting from weak infrastructure, inadequate foreign exchange and rising cost of production have resulted in increased cost of running business in Nigeria. All these have reduced business profitability and retained earnings. “The view remains that government needs to do more to provide enabling business environment to make the Nigerian economy more competitive and better positioned to attract the needed investments necessary for job creation and increase in disposable income,” they said.

T H I S D AY WEDNESDAY APRIL 19, 2017

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T H I S D AY WEDNESDAY APRIL 19, 2017

T H I S D AY • WEDNESDAY, APRIL 19, 2017

EDUCATION

Discordant Tunes over WAEC’s New Diet

The plan by the West African Examination Council (WAEC) to conduct an additional diet of its West Africa Secondary School Certificate (WASSCE) for private candidates as from January 2018 is generating various reactions and different opinions from experts in the education sector and other stakeholders. Funmi Ogundare reports

Students in an examination hall

Moved by stakeholders’ growing concerns over perceived discrimination or denial of equal opportunities against private candidates who usually take West Africa Secondary School Certificate (WASSCE) around November/December, the West Africa Examination Council (WAEC) swung into action recently. The examination body has given its national offices the nod to commence the conduct of one additional diet each year of its West Africa Secondary School Certificate (WASSCE) for private candidates, after painstakingly considering all ramifications. The Registrar and Chief Executive Officer of the Council, Dr. Iyi Uwadiae, who disclosed this during an interactive session with journalists in Lagos, said the additional diet would be a way of reducing the agony of long wait experienced by the candidates who desire another attempt at WASSCE, adding that it would be conducted between January and February each year. According to him, “due to the fact that WASSCE for school candidates comes up first each year and the result ahead of the conduct of WASSCE for private candidates, the school candidates who wish to retake the examination usually have the opportunity of doing so with the private candidates’ examination and as a result there has been a wave of agitation, criticism and appeal across the sub-region for the council to find a way of reducing this problem.” He pointed out that though the council has given its go-ahead, the conduct of the additional diet may not take off in all the member countries immediately or at the same time, assuring that the Nigeria National office has indicated its willingness and readiness to blaze the trail by making the examinations available in 2018. “The positive effect for the private candidates is that they can have their results for the November/ December diet and if they fail to make five credits at one sitting, they will have the opportunity

of trying a second time. What is important is not the number of times but with what you can do with it,” Uwadiae said, while describing the additional diet as relevant and laudable. Reacting to a situation where some universities do not allow for a combination of results, the WAEC boss said, “Our assignment ends with the conduct of the examination and the release of results. What you do with the result is none of our business. Yes, some universities do not allow for a combination of results, but we cannot tell universities what to do.” Uwadiae said details of the scheduled dates, available subjects, location of centres and their information would be provided by the Head of Nigeria National office at the appropriate time. The registrar recalled that the maiden WASSCE was conducted in The Gambia in 1998 and was later introduced in Nigeria, Sierra Leone, Ghana and Liberia in 1999, 2000, 2006 and 2013 respectively. “Now, I am glad to inform you all that the government of Liberia has now taken the bold decision to finally phase out the country’s national examination (LSHSCE) and adopt WASSCE,” he said. Asked if the council is ready for the cost implication, he said, “there is no cause for alarm, everything has been taken into consideration, we have the manpower, structure and technical knowhow on ground to do what we have to do.” Opinions and Differences Just as the council is strategising for the smooth take-off of the new diet, parents and educators are concerned that the new diet may bring about undue pressure on the part of the parents, candidates who did not pass all necessary papers, and having to prepare for the new diet at a relatively short time; as well as the school that would be marking different exams. Others believe that the new diet would

provide more opportunities for candidates to sit for examinations and get qualified to further their studies and remove the pain of losing two academic sessions, while waiting for another attempt. A parent, Mr. Juwon Ayeyemi welcomed the development, saying, “the idea could open windows of opportunity as well as remove the agonising pain of losing two academic sessions while waiting for another attempt.” An educator at Atlantic Hall, Lagos, Mrs. Olufunlola Oni, said parents should not put their children/wards under undue pressure, noting that a student should write the exams on completion of sixth form/SS3, and register for the next diet in case of falling short in expected grades. “However, many parents would rather want students to register for the diet proceeding, hoping to have them finish early in a race only they know,” Oni added. A parent, Mrs. Toyin Sode Idowu asked, “What exactly is the objective of conducting three exams in one year? I certainly do not agree with this. We all know that it’s the same set of candidates who would register for the exams. What this would encourage them to keep ‘gambling’, believing there is a fall-back position. Meanwhile the exam body laughs all the way to the bank.” She noted that the time in between the exams would be so short that proper preparation would be an uphill task, adding, “a candidate who did not pass all necessary papers obviously requires more time to prepare, and should have at least six months to do so.” Another stakeholder Mr. Tobias Nyam said, “There is so much to ask or ponder about in this new ‘diet’. The November/December remains, then additional one comes up Feb/March? Where is the time difference? The folks marking the exams, how do they cope with regular school duties: Mark exams in December, March and July;

not forgetting NECO. Does this augur well for their schools and students? The pressure on the parents, the students’ exam venues and marking venues! Really, what is the need/ essence of this new ‘diet’, when Liberia for instance, is scrapping one of the two examinations bodies to have only WAEC operational? Chief Executive Officer at the Orientation Project, Mr. Joseph Aisida wondered about the study/research the council had conducted to commence the new diet saying, “From my perspective, students do not need such pressure, as most parents will want them to do all three exams, parents don’t need it. They really need to think about the end game that comes about with such proposal.” A former Vice Chancellor, Fountain University, Osogbo, Prof. Bashir Raji opined that the tag, ‘private’ could be removed from the exams, while making the current two exam dates accessible to both private candidates and students in school. He noted that the move will remove the perceived disadvantage for students registered as private and hence provide leveled ground for all candidates of their examinations, as well as increase access without having to introduce a new diet. “As long as one exam is termed private, it’s already discriminatory both to examiners and candidates. The council should keep the current two exams and make them accessible to anyone who might be interested,” he said. The Head National Institute of Cultural Orientation (NICO) North Central Zone, Ilorin, Mr. Ohi Ojo said the new diet would provide more opportunities to candidates to sit for examinations and get qualified to further their studies. Although the new diet offers an opportunity for private students to perfect their academic credentials, other stakeholders beg to differ. The true impact will be felt when the move finally takes off. Time shall surely tell.

T H I S D AY • WEDNESDAY, APRIL 19, 2017

EDUCATION

MOUAU Cries Foul as FG Restores Delisted Programmes in Agric Varsities Emmanuel Ugwu in Umuahia It has emerged that the federal government may have yielded to criticisms of its new policy of scrapping courses it considered as noncore agriculture programmes in universities of agriculture as it has restored all the delisted programmes at Federal Universities of Agriculture, Abeokuta and Makurdi. However, one of the three agric universities affected by the policy, Michael Okpara University of Agriculture, Umudike (MOUAU) was surprisingly left out in the change of policy thereby leaving the fate of students and staff of its College of Management

Sciences (COLMAS) hanging in the balance. The apparent discrimination by the government has led to protest by students of the institution, who condemned the rationale for shutting down COLMAS at the institution, while retaining it in Abeokuta and Makurdi. The protesters who were mainly from the endangered college, chanted solidarity songs and carried placards as they marched on the campus demanding explanation on why their future is being compromised through policy somersaults of the federal government. Some of the placards read: “Restore our Programmes in

CodeLagos: Govt Trains Master Trainers Peace Obi In a bid to make available the necessary resources for the smooth take off of the CodeLagos initiative, which will be launched later this month, the Lagos State Government recently commenced a three-day training for 100 master trainers who will in turn train over 1,000 facilitators needed for the project. Briefing journalists in Lagos recently, the Special Adviser to the Governor on Education, Mr. Obafela Bank-Olemoh, said the trainees who were selected after a rigorous process that started in March would serve as master trainers for CodeLagos facilitators. “These master trainers will go on to train over 1,000 facilitators who will eventually be deployed to different coding centres across the state. In this way, CodeLagos will create employment and business opportunities for Lagosians in the technology sector.” Acknowledging the contributions of the private sector in the project, Bank-Olemoh, who thanked ARM that has committed to setting up 15 centres, also announced the coming on

board of some new partners like PricewaterhouseCoopers, SystemSpecs, Etisalat, Oando Foundation and Oracle Academy, among others. He said they will be setting up clusters of coding centres, adding, “CodeLagos will be officially launched this April with a roll out of coding centers across 350 public and private schools, as well as public libraries across the state.” In his remarks, the Executive Director of SystemSpecs Limited, Mr. ‘Deremi Atanda, expressed the continued commitment of the organisation to support the initiative. “The greatest asset of a state like Lagos is the growing youth population. The choice to empower them is the wisest decision the state has made, thus laying a good foundation for the emerging knowledge economy. We are convinced that CodeLagos will do just that.” The Commissioner for Science and Technology, Mr. Femi Odubiyi, also reiterated the state government’s commitment to developing a tech-driven economy.

JAMB Brochure; “All we are saying give us COLMAS”; “Please Secure our Future in the Labour Market”; “My COLMAS, my College, our Future, let it be.” The federal government had through the Ministry of Agriculture and Rural Development in a directive last November asked the three universities of agriculture to close down non-core agriculture programmes. However just before the commencement of registration for the 2017 Unified Tertiary Matriculation Examination (UTME) of the Joint Admissions and Matriculation Board (JAMB), it lifted the lid off Makurdi and Abeokuta, leaving out MOUAU. This means that the two agric universities would take in new students for their

the company’s corporate social responsibility initiative tailored towards education and community development. He said the CSR gesture of the company was to complement the effort of the government in providing the necessary educational tools to enhance learning especially in the area of science and technical education. “Our joy will be to see the teachers fully utilise the laboratory equipment to impart knowledge that will improve the performance of the students in science subjects especially in the West African Senior Secondary Certificate Examination (WASCE) and the National Examinations Council (NECO) exams.” Ashiwaju revealed that the company has instituted a schol-

removed some programmes of the college in compliance with a directive from the ministry of agriculture and rural development, adding that he was sure the issue would be resolved since the delisted programmes have been restored in Makurdi and Abeokuta. Speaking with journalists, the dean said the seven programmes of the college, accounting, banking and finance, economics, business administration, marketing and entrepreneurial studies are under threat. He regretted that this year, JAMB has already delisted MOUAU from the administrative courses that COLMAS offers hence the future of the students is being compromised. “What is more painful is that JAMB pretended to have

kept three of our programmes, putting them as options under agribusiness,” he said, adding that the professional image of the courses would have been diminished by putting them as options. With student population of 10,931, which is over 50 per cent of MOUAU’s total student population, there are fears that scrapping COLMAS would diminish the university, which is the only federal tertiary institution in Abia. Moreover the entire southeast is shortchanged in the distribution of conventional federal universities as it has only three; hence scrapping the allied (conventional) courses from MOUAU would affect the chances of Abia indigenes gaining admission into federal universities.

SUPPORTING EDUCATION

L-R:TheHead,PublicPolicyandGovernmentAffairs,EtisalatNigeria,MohammedSuleh-Yusuf;astudentoftheDepartmentofStatistics,Ahmadu Bello University, Zaria, Ibrahim Abdulhamid; Vice-Chancellor of the university, Prof. Ibrahim Garba; and Manager, Corporate Social Responsibility, Etisalat Nigeria, Oyetola Oduyemi, at the Etisalat merit award scheme scholarship presentation at the university… recently

Dufil Equips Science Lab of Lagos School As part of efforts to develop education in the country, especially science education, Dufil Prima Foods Plc, makers of Indomie Noodles has donated science laboratory equipment worth over N1 million to Mainland Senior High School, Jibowu, Lagos State. The donation of the complete set of laboratory equipment which held at the school premises recently was witnessed by the Onisabe of Igbobi Sabe, Oba Owolabi Adeniyi, students, parents, teachers, among others. While presenting the equipment on behalf of the company, the Group Public Relations and Events Manager, Mr. Tope Ashiwaju, explained that the donation was part of

restored programmes, while the door is shut against prospective candidates who desire to apply for any of the seven delisted courses run by COLMAS in MOUAU. The President of the Association of Management Science Students (AMSS), Mr. Onuoha Uzoma told the Dean, Prof. Ihendinihu that they marched to him to demand an explanation on their fate following what they heard about the scrapping of their programmes. He promised that the students of COLMAS would not go violent to express their feelings over the action, but appealed to the dean to do his best to ensure that the college is not shut. Ihendinihu told the students that it was true that JAMB had

arship scheme for exceptional students from secondary school certificate up to the master’s level and advised them to take advantage of the opportunity. “All I want is for the teachers to take full advantage of the opportunity by making extra effort to teach the students and the students to learn, stay focused and continue to dish out outstanding results and the scholarship will be yours.” Reacting on behalf of the Igbobi Community, Oba Owolabi Adeniyi thanked the company for the donation, while urging students to make good use of the equipment for their advancement and to ensure that the community produces more successful personalities in the field of science in future.

ExxonMobil, Kaduna Partner to Improve Secondary Education Esso Exploration and Production Nigeria (Offshore East) Limited (EEPNL), an ExxonMobil affiliate company in Nigeria recently donated 5,000 personal tablet computers to public secondary school students in Kaduna State, under the state’s Smart Education Initiative, as part of efforts to improve students’ access to education. The tablets are equipped with school curriculum, e-textbooks, as well as past questions and solutions for national examinations, which will assist students by providing them with instant access to multiple sources of knowledge. According to the General Manager, Public and Government Affairs for ExxonMobil

affiliates in Nigeria, Paul Arinze, “this initiative fits into our social investment strategy, which supports improvement and capacity enhancement of institutions at all levels in Nigeria’s education sector. It also mirrors similar educational programmes supported by ExxonMobil affiliates across Nigeria. “In the past two decades, ExxonMobil affiliates in Nigeria have invested over N8 billion in Nigeria’s education system. We hope this investment in smart education systems for high school students will have a carry-over effect, leading to improved performance of the students at further levels of education, and an improved quality of working class Nigerians in Kaduna State,”

Arinze said. In his remarks, the Group General Manager, National Petroleum Investment Management Services (NAPIMS), represented by the Manager Public Affairs, Ahmed Aminu, described the project as a worthy initiative and urged the students to make the most of the opportunity to embrace digital education. The state Governor, Mallam Nasir El-Rufai commended NAPIMS, Esso and other co-venturers on USAN Deep Water Field for their contribution to the state’s smart education initiative, emphasising the value of the project in overcoming some of the current challenges to education in the state.

T H I S D AY • WEDNESDAY, APRIL 19, 2017

EDUCATION

Adamawa NUT Says State of Emergency in Education not Effective Daji Sani in Yola The Chairman of Adamawa State Chapter of the Nigeria Union of Teachers (NUT), Mr. Rodney Nathan, has faulted the state of emergency declared in education by the governor, saying that it has no effect on the system. Nathan, who said this while briefing journalists in Yola, said the declaration was a complete mockery of what a state of emergency is because nothing was done to change the bad and hopeless situation created by past administrations. He said till now, primary school teachers lack teaching facilities and nothing has been done towards the prompt payment of teachers’ salaries, promotion, pension and gratuity for several months and years now. He stated that the current government under Senator Muhammadu Jibrilla Bindow

has good intention but seems to lack the zeal and the focus to do that as there is no sign of seriousness to improve the state education system. He called on the government to the necessary steps to actualise the dream of declaring a state of emergency. “After the declaration, we were thinking that much attention will be given to the education sector but to be honest with you we have not felt the impact of the state of emergency declared by the governor.” Nathan explained that when they had a meeting with the state government, they thought the government wanted to find out the challenges and proffer solution, but unfortunately nothing was done. “What we are seeing and are expecting after the declaration is not what we are seeing, with the declaration we are still having outstanding salaries arrears, we are still having leave transport grand arrears

for five years, we still have dilapidated classrooms, we are still having hanging promotions and still having pupils being taught under shed of trees.” He also observed that during a data capturing exercise of some teachers in the state who have not being in the epayment scheme, the state government in planning did not see the usefulness of teachers in the state. He said they expected to be officially invited to plan alongside the state government as one of the stakeholders, but were turned to onlookers to witness how it unfolds. “We were thinking the first approach is to invite the NUT since the union stands for teachers, we were even thinking we will be asked to submit a proposal to know our opinion on what the government should do in the state of emergency declared, we are now following the trend to see how it goes.”

FUTURE INVENTORS

Some students engaging in chemistry practical as part of the preliminary stages of this year’s PZ Cussons Chemistry Challenge in Lagos… recently

Six Students Win Rotary’s Essay Contest Ernest Chinwo in Port Harcourt Six students have emerged winners of the maiden essay writing contest for junior secondary schools in Port Harcourt and Obio/Akpor Local Government Areas of Rivers State, organised by the Rotary Club of Port Harcourt South. Miss Hope Mkpidut of Titare Academy emerged the overall best, while Miss Treasure Chukwu of Graceland International School and Master Israel Ozurumba of Bishop Crowther Memorial Secondary School came second and third respectively. Ruth Marcus of Penielville International Secondary School was fourth, while Godday Amachree of Government Comprehensive Secondary School and Gad Tam-Vincent of Emarid College came fifth and sixth respectively. Announcing the winners, at a ceremony in Port Harcourt, the President of Rotary Club of Port Harcourt South, Mr. Igochukwu Azubuike, said the club embarked on the

project because of its concern about the future of the youths. He said youths in the society do not write any longer because of the negative impact of the social media and ICT, adding that the project was designed to rekindle the interest of youth in writing to revive the writing culture. Azubuike disclosed that the club invited 198 schools for the competition from which the six winners emerged. “We are happy with what Rotary is doing because we are assured that we will reap the result in our youths.” He noted that some members of the club are involved in the spelling bee contest, adding that the Rotary Club of Port Harcourt South is only complementing the efforts of sister clubs. “This shows that Rotary values education and the development of our youths.” He also commended the Rotary Foundation and District 9140 for giving

his club the grant to fund the project and expressed confidence that the project would be extended to all schools in the state following the success of the pilot edition. In his remarks, a former Deputy Governor of the state and Past District Governor of Rotary, Sir Gabriel Toby, commended the club for properly using the grant from Rotary Foundation and urged the members to ask for more grants to execute more projects. He also congratulated the winners of the competition and urged them to see their success as a stepping stone for more achievements in life. Toby also called on the club to establish Interact Clubs in all secondary schools in the state to instill in the students the ideals of service. On behalf of the winners, Mkpidut thanked the club for introducing them to writing and helping them to develop their writing skills. All the winners received cash prizes and ICT gadgets.

Foundation to Host Education Convention The Meadow Hall Foundation (MHF), a subsidiary of Meadow Hall Group, has announced a two-day education convention scheduled to take place on April 20 and 21 at City Hall Lagos, and at Meadow Hall, Lekki respectively. The convention with the theme ‘ Transforming our Society through Education’ is aimed at bringing education stakeholders together to discuss and learn ways to advance the society through education.

The convention will comprise an education conference and a mentor-mentee forum for stakeholders in the public, government and education sector of the society. Keynote speakers at the two-day conference include Dr. Oby Ezekwesili, former Minister of Education and former Vice-President of the World Bank; Mr. Fela Durotoye, CEO, Gemstone Group; Mr. Obafela Bank-Olemoh, Special Adviser to the Lagos State

Governor on Education; and Mrs. Kehinde Nwani, CEO, Meadow Hall Group . According to a statement made available to the press, the objectives of the convention include encouraging the development of professional excellence and dedicated service of educators from the public and private sectors, as well as equipping educational stakeholders to use education as a tool for societal transformation.

You NeedYour Eyes for a Long Time Shade Up Classily but Sensibly “Mum!” My daughter exclaimed, “why ever not this pair? You have an oval face and aviators seem to work so well for you!” “It`s no use achieving beauty with no brains” I retorted, “this pair has no info on the amount of UV protection it’s got to offer, so it’s a No! No! from me.” It is good to seal up your glamorous or stylish look with your designer sunglasses. It’s even smarter to be wearing one that’s protecting your eyes whilst launching a suave and ‘happening’ you. Some folks are so specs-inclined that they have a collection of all the shapes possible. Traditionally, sunglasses’ styles come in: retro square, aviator, cat-eyes, wayfarer, brow line, sports, shutter shades, oversized, round or tea shade styles. They come made by top designers like Hugo-boss, Giorgio Amani, DKNY, Burberry and Saint Laurent. Top high-street shops like Boots, Tesco, Spec Savers also do their own lovely ranges of fashionable styles. Whatever are your reasons for purchasing one, make sure that your sunshade promises to block out 99 to 100 per cent of both UVA and UVB radiation. These refer to the sun’s ultraviolet rays which are capable of damaging your eyes and causing you great discomfort. In simple terms, your eyes and their lids are ‘naked’. They need to be shielded from the glare of the sun and dust particles. To reduce the possibilities of: skin-cancers (to your eyelids); cataracts which is a leading cause of blindness; macular degeneration, another reason of vision loss and blurriness; eye-sunburn and even conjunctivitis, choose sunglasses that provide you with 100 per cent protection from the sun’s ultraviolet rays and other environmental damages. Omoru writes from the UK

Lagos, Oyo, Ogun Top Cowbellpedia Enrolment Figure Out of a total of 51,018 students that sat for the first stage of this year’s Cowbellpedia Secondary Schools Mathematics TV Quiz Show, Lagos State topped the enrolment chart with 7,098 candidates, followed by Oyo and Ogun States with 3,833 and 3,234 respectively. The enrolment figure represents a 12 per cent growth over the previous year. Delta State with 2,282 candidates came fourth for the south-south, while Anambra State with 1,560 candidates was top among the states in the south-east. Kaduna led the north-west with 1,675 candidates, while the top spot in the north central went to Nasarawa which pulled 1,423 candidates. Bauchi State led the north-east enrolment with 878 candidates. Further analysis showed that there were a total of 26,053 candidates in the junior secondary school (JSS) category, while the senior secondary school (SSS) category recorded a total of 24,961 candidates. Also the number of online registration increased from 19,604 to 32,096 in 2017 which is a 64 per cent growth from last year. Also, the percentage of online registration to total registration increased from 43 per cent to 63 per cent in 2017. Most of the states grew above the 2016 figure. Despite the large turnout of students

in examination centres across the country, logistics hitches were reduced to the barest minimum. Candidates are advised to visit www.cowbellpedia.ng for the stage one result from June 1, 2017. A total of 108 students (54 each for junior and senior categories) are to proceed to the second stage, which is the television quiz show. The quiz show will be further sub-divided into preliminary, semifinals and finals. The show will be serialised into 13 episodes and aired in major television stations across the country. In his reaction, the Managing Director of Promasidor Nigeria Limited, Mr. Olivier Thiry, thanked the National Examinations Council (NECO), state ministries of education, school principals, teachers, the press and other partner agencies for supporting the initiative over the years. He said the ultimate prize for this year’s edition is N1 million and an all-expense paid educational excursion abroad, while the first and second runners up will receive N750,000 and N500,000 respectively. The teacher of the winner will be awarded N400,000, while teachers of the first and second runners-up will get N300,000 and N200,000 respectively.

T H I S D AY • WEDNESDAY, APRIL 19, 2017

EDUCATION

UNILORIN Flays ASUU’s Call for VC’s Resignation Hammed Shittu in Ilorin The management of the University of Ilorin has condemned the purported demand by the Academic Staff Union of Universities (ASUU) for the resignation of the Vice-Chancellor, Professor AbdulGaniyu Ambali. It described the demand as “unwarranted” and “mischievous” that will not see the light of the day. A statement signed by the university’s spokesman, Mr. Kunle Akogun, said it was preposterous to ask Ambali, “an excellent captain”, to quit,

adding, “no excellent captain quits midstream.” The Ibadan Zone of ASUU had called on Ambali to honorably resign his appointment to allow for an independent investigation of fraud allegations against him. The statement added that the union was only bent on destroying the peace and progress of the university because all attempts to hijack the progressive ASUU at UNILORIN had been rebuffed by the university lecturers. The statement read: “Dispassionate watchers of events at the University of Ilorin,

especially since the university began to gain national prominence and acclaim as a socially responsible, generally peaceful, academically excellent and qualitatively most sought-after citadel of learning in the country, are familiar with the antics of a few dissidents who are bent on taking us back to Egypt. “Indeed, these enemies of progress cannot reconcile themselves with why a university would consistently receive national and international accolades. Within the last one year, the activities of these disgruntled elements

are targeted at disrupting our well-known uninterrupted academic calendar.” The statement alleged that ASUU’s “unconscionable attempt to destroy the good image, which the university has toiled hard to build over the years, will continue to fail and their ploy to divert management’s attention from its set goal of building a worldclass citadel of learning will not work. “The call on the vicechancellor to resign based on some spurious allegations is therefore unwarranted as it is mischievous.”

RUNNING THE CLASSROOM

CHIOMA ERUOTOR

Who is a Friend?

Someone had said “a friend is a person who is willing to take me the way I am”, accepting this as one definition of the word friend, may I quickly suggest that we are person the same way we find him. This seems to be a misunderstanding on the part of some humans today as to what it means to be a friend. Acts of a friend should result in self-reliance, comfort, consolation, self-respect and better welfare. Certainly, the word friend is misused if it is identified with a person who contributes to our delinquency and heartaches. When we make a man feel he is wanted, his whole attitude changes. Our friendship will be recognizable if our actions and attitudes result in improvement and independence. President Abraham Lincolm was once criticized for his attitude towards his enemies. “Why do you try to make friend of them.” asked an associate.” “You should try to destroy them.” Signs of a good friend are: · Someone who will support you no matter what · Someone you can trust and who won’t judge you. · Someone who won’t put you down or deliberately hurt your feelings. · Someone who is kind and has respect for you. · Someone whose company you enjoy. · Someone who is trustworthy and willing to tell you the truth, even when it’s hard. · Someone who can laugh when you do something funny. · Someone who is willing to stick around when things get tough. · Someone who makes you smile. · Someone who is there to listen. Eruotor writes from Lagos

Oando Foundation Launches School in Ogun State Peace Obi

BOOSTING SCIENCE EDUCATION

L-R: Oba Onisabe of Igbobi Sabe, Owolabi Adeniyi; the Group Public Relations and Events Manager, Dufil Prima Foods Plc, Tope Ashiwaju; the senior prefect, Mainland Senior High School, Lagos, Helen Awoseso; and the Principal, Ayodele Odupo, during the donation of science laboratory equipment to the school by Dufil… recently

Christopher Varsity to Address Industry, Academia Gap, Says Founder The founder and Chancellor of Christopher University, Dr. Christopher Ezeh, has said the newly established institution is structured to address the gap between academia and industries in the country. Speaking at the first matriculation ceremony and official opening of the institution recently, he said the idea was conceived over 10 years ago. He said the university was borne out of the successes recorded by the founders who had at various times established strong and fruitful linkages between the academia and industries. “The idea and approval of the university project was agreed at a meeting held in Enugu in November 2003. The conveners of the meeting had for many years observed that a yawning gap existed between the industry and academia and had at various times successfully established strong and fruitful linkages between industry and academia in the area of capacity building and management training. This explains

my excitement and above all gratitude to God to be here to share in this momentous event.” The chancellor, who described the occasion as the beginning of an epic journey, charged all stakeholders to demonstrate uncommon commitment to the growth of the university, stressing that the successes recorded by such great promoters of education like, John Harvard, Leland and Jane Stanford was a result of resilience and commitment. Ezeh commended the officials of the National Universities Commission (NUC), whose willingness to provide guidance at various stages led to the accomplishment of the university. He also commended parents who enrolled their children in the university, saying that the gesture is a show of confidence in the university’s standards. He charged the pioneer management of the institution that the work ahead of them is enormous, urging them to

cultivate the zeal and audacity of the early missionaries and explorers so as to achieve the desired successes. The public lecture titled ‘Bridging the Gap: the University, the Student, and the Workplace’ was delivered by Professor Anya O. Anya. Other special guests at the event included the Ogun State Commissioner for Education, Mrs. Modupe Mujota, a former Governor of Lagos State, Rear Admiral Ndubuisi Kanu; and Mrs. Nike Akande, the President Lagos Chamber of Commerce and Industry. According to a statement by a principal officer, the university’s mission is to create a specialised institution committed to the pursuit of academic innovation, skill-based training and a tradition of excellence in teaching and research with private sector participation. The statement added that the institution provides a serene and secured environment with quality infrastructure for learning and social interaction.

Determined to make teaching and learning more pleasurable for teachers and students across the country through improved learning environment, the Oando Foundation has through its adopt-a-school initiative (AASI), completed the renovation of fully furnished classrooms and an early child care unit at Itori Ewekoro Primary School, Ogun State. The school was said to have lacked basic infrastructure required for effective learning with leaking roofs, dilapidated walls, shortage of writing materials, lack of sanitary facilities, limited access to water, desks and chairs, among others. The foundation’s decision to adopt the school was partly due to its emotionally agonising history where 10 pupils were killed in a motor accident which led to the relocation of the school to a derelict poultry. Speaking at the event, the Head of the foundation, Mrs. Adekanla Adegoke said: “Oando Foundation has a long history of engagement in Ogun State that dates back to 2012 when it adopted its first school in Akute. Today, we are happy that pupils and staff of Local Government Primary School, Itori Ewekoro are witnessing a significant transformation from learning in a derelict poultry, they now have fully equipped modern classrooms that support their needs. “We have furnished all classrooms and supplied teaching and learning materials that facilitate learning. The water supply provided will also improve sanitation and hygiene in the school.” In her remarks, the state Commissioner for Education, Mrs. Modupe Mujota said: “Ogun State has continued to see growth in the number of pupils enrolling in

primary school and we have worked to ensure that they all have a school as close to where they live as possible. Where necessary, we have partnered organisations like Oando Foundation to ensure that our schools receive the necessary support to provide best in class education.” Also speaking, the Chairman, State Universal Basic Education Board (SUBEB), Alhaji Abduljeleeh Okewole, commended the foundation for providing the block of six classrooms to the school and appealed to other corporate organisations and well-to-do individuals in the society to support government in the provision of multi-infrastructural facility for a conducive and quality learning environment. According to a renowned actress, Kate Henshaw, it is a call to action, “a building does not mean that the children will be educated. There is still a lot to be done and we need to train the teachers, bring them up to speed with best practices in education and ICT skills. “They need to be continuously developed so that the children can compete favorably with their peers across Nigeria, even in the world. I just believe that each and every one is capable of touching a life. If you touch one life, that one life will touch the next person. It doesn’t have to be in millions.” The Head Teacher, Mrs. Bolanle Dauda, who confirmed that teachers’ capacity has also been strengthened in modern pedagogy and subject content to better deliver qualitative teaching with the materials provided, said, “I cannot express my feelings. I have been working here for three years now and our children used to sit on the floor to learn.

T H I S D AY â&#x20AC;˘ WEDNESDAY, APRIL 19, 2017

CITYSTRINGS

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

Facelift for Akure

Akure, the Ondo State capital, is undergoing a major facelift certain to reinvigorate life in the once sleepy city, writes James Sowole

Amazing Event Hall on Akure-Oda

n the time past, it was a common thing for somebody driving along some major roads and streets in Akure, the Ondo State capital particularly at weekends to run into road blocks temporarily mounted by residents that are celebrating one form of event or the other. The blocking of roads and streets are done without consideration on the need for vehicle to move in time of emergencies. This ugly practice on many occasions, had led to disruption of vehicular traffic as motorists were forced to look for alternative routes to their destination. In many cases, unnoticed diversion had led to physical confrontation among the people. At a time, local government authorities give approvals to blocking of street roads as a means of generating revenue while sometimes it is done as a mark of respect for certain personalities particularly when a prominent person in an area dies or celebrating confirmation of chieftaincy titles. However, things have changed for the better as people have embraced the use of open and locked event centres including playground of public primary and secondary schools to host their events. The use of schoolsâ&#x20AC;&#x2122; playground has now become a source of internally generated revenue for those schools that have facilities to accommodate such event. In the time past, wedding receptions were held in assembly halls of secondary schools. Observing that the use of public schools playground had been disrupting the normal

school activities particularly on Fridays there are moves by the state government to stop the use of school facilities for social activities. The government has also been noting that the schools playground were being turned

The embrace of decent and convenient places to host their events had been encouraging people who have the wherewithal to build event centres in Akure, the Ondo State capital.These centres are not built by only individuals as government agencies and churches, too have event centres as a source of generating revenue. These centres, which are of different sizes and make are located in various parts of the metropolis and in the outskirts

into other use apart from what they were made for. In Lagos State, the government had outlawed holding of events in school premises and which some other states are considering now. Apart from this, some hotels do have banquette halls which they give out for occasions. However, some people do not like using hotel banquette halls because they would not be able to bring in their foods and drinks unlike when they host their event outside hotel premises. Also, freedom to use some facilities are limited in hotels. This is also the case in some event centres owned by churches as celebrants were restricted from serving alcohols during ceremonies. The choice of a particular centre to use depends on budget and the type of event to be hosted. In many cases, wedding receptions are usually held in a closed event centres while burial ceremonies are held mostly in open fields. However, there is no law that specifies which type of place one can use for his or her event. The embrace of decent and convenient places to host their events had been encouraging people who have the wherewithal to build event centres in Akure, the Ondo State capital. These centres are not built by only individuals as government agencies and churches, too have event centres as a source of generating revenue. These centres, which are of different sizes and make are located in various parts of the metropolis and in the outskirts. From

whichever points one enters, the state capital, these centres are sited in various sizes. As one enters from the Federal University of Technology, Akure (FUTA) on Akure-Owo Highway, there are more than eight before one gets to Federal Government Girls College. Also, there are more than five as one moves towards the metropolis from the FUTA Junction before one gets to Oyemekun Grammar School just as many are located along Oda Road in the outskirt of the town. One major feature of modern event centres is that they are air-conditioned and fitted with modern public address system. In some cases those who hire a particular centre, dictate the colour of table and chair cover, which are charged together while owners of some event centres also provide catering services for their customers depending on the agreement. One major advantage of using closed event centres is the ability of the organisers of event to control entry into the venue of event unlike in the case of open place where control can be difficult. Another advantage derivable from using modern event centre is that it is a one stop place for hosting ceremonies. Unlike in the conventional and traditional place of event, organisers do not need to bother about looking for place to rent chairs, tables, canopies just as organisers need not to bother about storms disrupting their event that can happen if one uses open centre. However, the establishment of event centres in Akure had been attracting com-

T H I S D AY • WEDNESDAY, APRIL 19, 2017

CITYSTRINGS

AS Event Hall on Ilesha- Akure- Owo Highway

ABS Event Centre, Akure-Owo, Highway

New Ondo Event Center, The Dome

The owner of ABS Event Centre on the Akure-Owo Highway and which can sit up to 2,500 for a banquet and about 5,000 for other events, Alhaji Sikiru Basaru, said patronage of modern event centres was gradually coming up in the state capital due to convenience and safety of guests

ments from the people particularly when one considers those who owned most of the facilities. According to findings, some facilities were owned by politicians and civil servants not because of the money they will make immediately as rent from them but a way of tying down the money.

Exclusive Hall and Event Centre, Ilesha Garage Road, Akure

The proliferation had led to crash in the rent being charged due to competition as event planners have choices to make unlike

the situation 10 years ago. Owners and operators of some event centres, who spoke to THISDAY said there

are several advantages when one has his or her event at a modern centre. The owner of ABS Event Centre on the Akure-Owo Highway and which can sit up to 2,500 for a banquet and about 5,000 for other events, Alhaji Sikiru Basaru, said patronage of modern event centres was gradually coming up in the state capital due to convenience and safety of guests. He said there were reports when rainstorm had disrupted ceremonies while some guests sustained injuries when canopies were affected. He however said patronage depends on the size of the event place and number of guests being expected and the charges. He noted that this is why event centres that are smaller in size get more patronage than the big ones. “As everybody knows, public power supply is not reliable. Even if it’s available at all, the current cannot power the air-conditioners. With that it means we have to rely on generator whenever event is holding here. “We are using a 350 kva generator here. To start the generator at all, the minimum litres had been specified and anything below that would cause problem so this hall cannot be hired for small event and that is why the patronage for my facility is still low,” Basaru stated. On some challenges being faced in the operation of those centres, owners of places visited by THISDAY lamented that several challenges like, power, multiple taxation by government agencies.

T H I S D AY WEDNESDAY APRIL 19, 2017

T H I S D AY • WEDNESDAY, APRIL 19, 2017

BUSINESS/MONEYGUIDE

Report Demands New Rules for Human Capital Managers Peter Uzoho In an age of disruption, business and HR leaders are being pressed to rewrite the rules for how they organise, recruit, develop, manage and engage the 21st century workforce, according to Deloitte’s Human Capital Trends Report and survey 2017. The survey showed that the 21st century workforce was becoming more digital, more global, diverse, automation-savvy, and social media-proficient, revealing also, that business expectations needs and demands were evolving faster than ever before. Presenting the report at the third edition of Deloitte Talent Management Platform in Lagos recently, Partner, Consulting, Deloitte, Mr. Joseph Olofinsola, said while some view the new trend as a challenge, his firm sees it as an opportunity to

re-imagine HR, talent, organisational practices; an opportunity to create platforms, processes, and tools that will continue to evolve and sustain their value over time. An opportunity to take the lead in what will likely be among the most significant changes to the workforce that we have seen,” he said. Olofinsola explained that the 2017 report began last year with the team reaching out to hundreds of organisations, academics, and practitioners around the world, noting that this year, the report included a survey of more than 10,000 HR and business leaders across 140 countries. He stated that the reported revealed how leaders were turning to new organisational models that highlights the networked nature of today’s world of work; innovation-based HR platforms; learning and career

programmes driven by social and cognitive technologies; and experience strategies that put the workforce at the center. Reacting to the report, Executive Director/Country Human Resource Manager, Mobil Producing, Mr. Udom Inoyo, urged human resource practitioners to also reflect on the standing of their respective businesses, saying as strategic partners in business, they need to realise that most businesses had struggled in the last couple of years. Citing the oil and gas sector, Inoyo pointed out that the price collapsed on them last year. “We’re having challenges getting funds from our personal development, we’re not hiring, we’re actually reducing head counts. So you reflect on all these challenges and also reflect on where that business can,” he said.

‘Institutional Support Needed to Drive the Entertainment Industry’ Veteran Nollywood actor, Mr. Richard Mofe Damijo has identified institutional support as the key to driving the country’s entertainment industry. Speaking Tuesday at the Fidelity SME Forum on Inspiration 92.3 FM, anchored by the Managing Director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo, Damijo noted that collaboration between the entertainment and private sector, the industry would grow faster than it is presently. He urged the private sector to look at the business aspect of

entertainment industry critically. “We don’t need a Basket Mouth to sell the Wembley Arena before you guys can come in. We don’t need the AY show to cause traffic or mayhem in Eko Hotel for you guys to realise that there is plenty of money there. You don’t need the Wedding Part to make N460 million and above before you know that we need more cinemas,” he said. “So I put it to you like lawyers would say, imagine a country where with less than 50 cinemas a film goes

ahead and makes N450 million. If private sector can look at show business (entertainment) as a business and begin to get their people to study and look at how and what models can be used it would go the way that it should.” In his advice to upcoming artists in the industry, Damijo said: “What I usually advise younger people, is to read-be voracious in your reading and try to diversify as much as possible. But just stay connected within the art. Consume as much literature as you can,

Firm Introduces Digital Solution for Transport Industry The founder and Chief Executive Officer, Central Dispatch Africa, Mr. Frank Eson has said the level of logistics and haulage industry in Nigeria would soon witness unprecedented upscale movement with the unveiling of an application softwareCentralDispatchAfrica.com, a digital market place solutions in the transportation industry in Nigeria. According to a statement, the app which is simple and easy to use, will bridge the gap between shippers and carriers and stimulate efficiency in the movement of goods in a transparent and profitable coordination. Eson while speaking ahead of

Friday’s unveiling of the app in Lagos described it as the needed platform that provides shippers, transporters and brokers with the most efficient and safest way to ship good by bringing technology to the transportation market-place. Eson disclosed that the digital market solution was borne out of the need for a system that could utilise the advances in technology, to bring efficiency, profitability, transparency and lower costs for both the transporters and shippers. “It is a known fact that transactions in haulage transportation in Nigeria have largely been untouched by technology, a lot of inefficiencies exists in the dis-

patching, sourcing, transparency, profitability, and cost. All these issues will be aptly resolved by CentralDispatchAfrica.com as it is a reliable app for the shippers and transporters to meet and conduct business”, he added. On how the app works, the Vice President- Operations, Central Dispatch Africa, Maurice Inah remarked that with centraldispatchafrica, all a shipper does is to log on to the system and post the goods they are shipping, showing where they are going and what they are willing to pay to have them shipped and the transporters will contact them directly to transport the goods.

Group Hails Passage of Consumer Protection Bill The National Assembly Business Environment Roundtable (NASSBER) has commended the House of Representatives for passing the Federal Competition and Consumer Protection Commission Bill. In a letter to the Speaker of the House of Representatives from the NASSBER Secretariat, the Chief Executive Officer of the Nigerian Economic Summit Group, Mr. Laoye Jaiyeola stated: “NASSBER expects that when signed into law after passage by the Senate, the legislation will promote healthy business competition and strengthen consumer rights in Nigeria.”

NASSBER is a platform for the legislature and the private sector to engage, deliberate and take action on a framework that will improve the Nigerian business environment. It is a partnership between the National Assembly, Nigerian Economic Summit Group, UK Department for International Development ENABLE II programme and Nigerian Bar Association Section - on Business Law. Being one of the priority legislations identified in the Comprehensive Review of Institutional, Regulatory, Legal, and Constitutional Instruments Affecting Business in Nigeria

by NASSBER; the Bill is expected to create an opportunity for small businesses to compete and thrive alongside large ones. Furthermore, NASSBER’s Economic Impact Assessment Report highlights that, “competition law and policy is based on clear insights from economic history and that public interest is best served by free competition in trade and industry.” Global research suggests that real prices drop by between 25-50 per cent as a result of competition and deregulation in previously uncompetitive industries and quality of service also improves.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

DECEMBER 2016 Broad Money (M2)

23,840,392.42

-- Narrow Money (M1)

11,520,166.67

---- Currency Outside Banks

1,820,415.90

---- Demand Deposits

9,699,750.76

-- Quasi Money

12,320,225.75

Net Foreign Assets (NFA)

9,353,504.03

Net Domestic Assets(NDA)

14,486,888.39

-- Net Domestic Credit (NDC)

26,970,297.97

---- Credit to Government (Net)

4,595,579.89

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

7,436,917.79

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

-2,841,337.90

---- Credit to Private Sector (CPS)

22,374,718.08

--Other Assets Net

-12,483,409.58

Reserve Money (Base Money)

5,837,322.41

--Currency in Circulation

2,179,174.28

--Banks Reserves

3,318,344.71 • Source - CBN

MANAGED FUNDS Month

December 2016

Inter-Bank Call Rate

10.39

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

14.00

Treasury Bill Rate

13.96

Savings Deposit Rate

4.18

1 Month Deposit Rate

8.53

3 Months Deposit Rate

8.80

6 Months Deposit Rate

10.23

12 Months Deposit Rate

10.76

Prime Lending rate

17.09

Maximum Lending Rate

28.55 • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT, MON, 17 APRIL 2017 The price of OPEC basket of thirteen crudes stood at $52.94 a barrel on Monday, compared with $53.37 the previous Thursday, 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 APRIL 19, 2017

T H I S D AY • WEDNESDAY, APRIL 19, 2017

MARKET NEWS

Forte Oil Grows Profit by 98% to N1.9bn in First Quarter Goddy Egene and Nosa Alekhuogie The hope of shareholders of Forte Oil Plc to receive dividend at the end of the current financial year has brightened as the company reported improved results for the first quarter(Q1) ended March 31, 2017. Shareholders of the oil firm did not receive any dividend for 2016 due to a 50 per cent decline in its profit. However,

going by the Q1 results, there is light at the end of the tunnel. Forte Oil reported a profit after tax (PAT) of 1.9 billion in Q1 of 2017, showing a jump of 98 per cent from N1.0 billion recorded in the corresponding period of 2016. In all, Forte Oil recorded a revenue of N33 billion, down 7.3 per cent from N35.67 billion. Cost of sales was reduced by 11.7 per cent from N30.8 billion to N27.2 billion, while distribu-

T H E MAIN BOARD

DEALS

MARKET PRICE

tion expenses was reduced by 45 per cent from N911 million to N501 million, leading to a growth of 20.8 per cent in gross profit to N5.8 billion, from N4.8 billion in 2015. Operation expenses declined by 9.8 per cent to N2.8 billion, from N3.1 billion, net finance cost rose by 37 per cent from N1.1 billion to N1.6 billion. The company posted post tax profit of N2.0 billion, up 57.5 per cent from N1.3 billion.

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

A reduction in tax by 52 per cent from N300 million to N200 million made the profit after tax to grow fast to N1.9 billion in 2017, compared with N1.0 billion in 2016, showing a jump of 97.5 per cent. In bid to reduce its finance cost, Forte Oil Plc last year raised N9 billion bond under its N50 billion bond issuance programme, to refinance existing short term commercial bank loan obligations. The funds were also meant to refinance its

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

retail outlet expansion. The Group Chief Executive Officer, Forte Oil, Mr. Akin Akinfemiwa had said: “With the raising of this initial capital which has been fully underwritten shows the confidence the investing public has in Forte Oil Plc as an investment of choice. This bond programme being the first in the downstream sector, is testament to Forte’s position within the downstream sector and allows the company to

actualise the vision of the Board to continue to provide value to its shareholders regardless of the economic climate. Also speaking on the bond issuance, the Group Executive Director, Finance and Risk Management, Forte Mr. Julius Omodayo-Owotuga said: “This series provides us with the necessary liquidity to actualize our growth strategies and positions the company for the years ahead.

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, APRIL 19, 2017

MARKET NEWS

ETI Records N52bn Loss after N221bn Impairment Charges Goddy Egene Ecobank Transnational Incorporate (ETI) yesterday made a provision of N221.7 billion for impairment charges on legacy loan portfolio for the financial year ended December 31, 2016. This decision to completely clean its books of non-performing risk assets made the company to end the year with a loss of N52 billion, compared with a profit of N21.25 billion in 2015. The impairment charges,

showed a jump of 110.7 per cent compared with N105.2 billion recorded in 2015. According to the results released on the floor of the Nigerian Stock Exchange (NSE) yesterday, ETI recorded a growth of 22.3 per cent in gross earnings to N665 billion in 2016, from N542.7 billion in 2015. Net interest income similarly rose by 25.3 per cent to N284 billion, from N226.6 billion in 2015. Profit before impairment charges stood at N188 billion, up from N146 billion.

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

However, the N221.7 billion impairment charges led to company to close the year with loss before tax of N33.7 billion compared with a profit before tax of N40.5 billion, while loss after tax stood at N52 billion, as against a profit after tax of N21.25 billion in 2015. Commenting on the results, the Group Chief Executive Officer of ETI, Ade Ayeyemi said Group revenues remained resilient despite a tough year of macroeconomic headwinds including a weaker economic

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 13Apr-2017, unless otherwise stated

environment, particularly in Nigeria, and the strengthening of our reporting currency - the United States dollar – against all African currencies particularly the Nigerian Naira where 40 per cent of the group’s revenues have historically been generated. “Separately, our end of year bottom line performance has been impacted by our voluntary adoption of a full impairment charge regarding our legacy loan portfolio, for which a resolution vehicle was set up, the first private sector

funded resolution vehicle of its kind in Nigeria, with the sole objective of ring-fencing the legacy loans from Nigeria’s core bank. This, among others, would allow management to focus on delivering results. Our business philosophy was founded on international best practice in terms of accounting and asset quality, so whilst the impairment charge has impacted our earnings, our accounting treatment has been for the right reasons and we are in better shape for the future as a result,”

he said. He assured stakeholders that the company would focus on bringing down impairment cost, improve the collection and what have been provided for so that the bottom-line would be robust going forward. Ayeyemi disclosed that the funds from proposed $400 million convertible bond issue will be used sensibly and profitably, of which $200 million would be used to repay the short-term financing used in setting up the resolution vehicle.

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 132.42 133.05 4.31% Nigeria International Debt Fund 218.97 219.87 1.78% 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 0.71 0.72 1.37% 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 17.29% 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 12.55 12.93 1.66% ARM Discovery Fund 294.44 303.32 2.53% ARM Ethical Fund 22.71 23.39 1.64% ARM Money Market Fund 1.00 1.00 15.66% 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 107.08 107.83 1.80% AXA Mansard Money Market Fund 1.00 1.00 17.59% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 0.00% Paramount Equity Fund 9.60 9.85 2.58% Women's Investment Fund 88.18 90.44 4.24% 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 18.13% 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 1,056.48 1,057.63 4.67% FBN Heritage Fund 113.51 114.27 1.72% FBN Money Market Fund 100.00 100.00 17.98% FBN Nigeria Eurobond (USD) Fund - Institutional $107.89 $108.45 3.62% FBN Nigeria Eurobond (USD) Fund - Retail $107.58 $108.14 4.03% FBN Nigeria Smart Beta Equity Fund 116.56 118.07 3.44% 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 0.98 0.99 4.79% Legacy Short Maturity (NGN) Fund 2.68 2.68 4.25% 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 2,243.45 2,270.28 1.56% Coral Income Fund 2,211.92 2,211.92 5.12% 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 17.72% 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 17.27% Vantage Balanced Fund 1.74 1.76 3.63% Vantage Guaranteed Income Fund 1.00 1.00 16.74%

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 1.02 1.04 3.30% Lotus Halal Fixed Income Fund 1,033.47 1,033.47 3.04% 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 10.04 10.12 3.89% Meristem Money Market Fund 10.00 10.00 16.40% 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 1.08 1.10 2.91% PACAM Fixed Income Fund 10.47 10.52 0.71% PACAM Money Market Fund 10.00 10.00 16.42% 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 112.90 113.82 10.89% 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 1.28 1.28 3.04% 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 1,871.17 1,880.59 2.15% Stanbic IBTC Bond Fund 156.32 156.32 1.53% Stanbic IBTC Ethical Fund 0.78 0.78 1.30% Stanbic IBTC Guaranteed Investment Fund 194.85 194.85 4.26% Stanbic IBTC Iman Fund 132.64 134.47 2.21% Stanbic IBTC Money Market Fund 100.00 100.00 17.64% Stanbic IBTC Nigerian Equity Fund 7,453.13 7,539.76 -1.72% 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 1.16 1.17 8.61% United Capital Bond Fund 1.27 1.27 15.18% United Capital Equity Fund 0.66 0.67 -1.12% United Capital Money Market Fund 1.15 1.15 11.33% 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 10.14 10.31 5.14% Zenith Ethical Fund 11.46 11.57 4.93% Zenith Income Fund 17.52 17.52 5.99%

REITS

NAV Per Share

Yield / T-Rtn

11.41 125.94

1.01% 1.59%

Bid Price

Offer Price

Yield / T-Rtn

8.18 72.83

8.28 74.19

-6.80% -3.90%

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

2.71 6.20 11.82 16.29 129.29

2.75 6.28 11.92 16.49 131.29

-1.43% -11.74% -1.48% 2.12% -0.45%

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

T H I S D AY WEDNESDAY APRIL 19, 2017

WEDNESDAY APRIL 19, 2017 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Suici Pence: US Won’t Rest Until N. Korea Gives Up

Nuclear Weapons The U.S. will not relent until it achieves its objective of ensuring the Korean Peninsula is free of nuclear weapons, Vice President

Mike Pence said Tuesday while visiting Japan. After meetings with Prime Minister Shinzo Abe and other

Turkey: Main Opposition Party Files for Referendum Annulment Turkey’s prime minister on Tuesday called on the opposition to respect the result of a referendum that will give sweeping new powers to the office of the president, but the main opposition party formally requested the vote be annulled. Sunday’s vote gave President Recep Tayyip Erdogan’s “yes” camp a narrow win for constitutional changes that will abolish the office of the prime minister and convert Turkey’s system of government from a parliamentary to a presidential one. Bulent Tezcan, deputy chairman of the opposition Republican People’s Party, or CHP, said the party filed a formal request seeking the referendum be annulled due to voting irregularities. He said the party would use all legal paths to challenge the vote. “We demand the cancellation of this referendum,” Tezcan said.

The opposition has listed a series of irregularities, but has been particularly outraged by an electoral board decision announced late Sunday to accept ballots that didn’t bear the official stamps used to verify they are genuine, as required by Turkish law. Monitors from the Organization for Security and Cooperation in Europe, who also listed numerous problems, said the move undermined important election safeguards. That drew a harsh rebuke from Erdogan and criticism from Prime Minister Binali Yildirim. “Efforts to cast a shadow on the result of the vote by spreading rumors of fraud are futile and in vain,” Yildirim said. “The will of the people was freely reflected into the ballot boxes and this business is over. Everyone and all sections — and the main opposition party in particular— must show respect. It is wrong to speak after the people have spoken.”

leaders, Pence told reporters that President Donald Trump was confident that economic and diplomatic pressure has a chance of compelling North Korea to cooperate. “It is our belief by bringing together the family of nations with diplomatic and economic pressure we have a chance of achieving a freeze on the Korean Peninsula,” Pence said. “We will not rest and will not relent until we obtain the objective of a denuclearized Korean

Peninsula,” he said. The Trump administration has signaled a more forceful U.S. stance toward North Korea’s recent missile tests and threats, including a warning from Trump that North Korean leader Kim Jong Un has “gotta behave.” So Pence struck a stern tone after arriving at a U.S. naval base from South Korea. “We appreciate the challenging times in which the people of Japan live with increasing provocations from across the Sea of Japan,” he

said. “We are with you 100 percent.” On Monday, Pence traveled to the tense Demilitarized Zone dividing North and South Korea, where he warned North Korea’s leaders that after years of testing the U.S. and South Korea with its nuclear ambitions, “the era of strategic patience is over.” A senior North Korean official then accused the United States of bringing the countries to the brink of thermonuclear war. Pence, on a 10-day Asia trip that will also take him to Indonesia

and Australia, said Trump hopes China will use its leverage to get its longtime ally North Korea to give up its nuclear weapons program and ballistic missiles. In Beijing, Chinese Foreign Minister Wang Yi made a fresh appeal for calm. Wang told reporters that although U.S. officials have made clear that a military strike remains a possibility, he believes that Washington would still prefer to de-escalate tensions through multi-sided talks.

British PM May Calls for Early Election to Strengthen Brexit Hand British Prime Minister Theresa May called on Tuesday for an early election on June 8, saying she needed to strengthen her hand in divorce talks with the European Union by shoring up support for her Brexit plan. Standing outside her Downing Street office, May said she had been reluctant about asking parliament to back her move to bring forward the poll from 2020. But, after thinking “long and hard” during a walking holiday in Wales, decided it was necessary to try to stop the opposition “jeopardising”

her work on Brexit. Some were surprised by her move - she has repeatedly said she does not want to be distracted by time-consuming campaigning - but opinion polls give her a strong lead, the economy is weathering the Brexit vote and she has faced opposition from her own party for some of her domestic reforms. Sterling rose to a four-month high against the U.S. dollar after the market bet that May would strengthen her parliamentary majority, which Deutsche Bank said would be a “game-changer”

for the pound. The stronger pound helped to push down Britain’s main share index, which was headed for the biggest one-day drop since June 27, days after Britain voted to leave the EU. “It was with reluctance that I decided the country needs this election, but it is with strong conviction that I say it is necessary to secure the strong and stable leadership the country needs to see us through Brexit and beyond,” May said. “Before Easter I spent a few

days walking in Wales with my husband, thought about this long and hard, and came to the decision that to provide that stability and certainty for the future that this was the way to do it, to have an election,” she told ITV news. Britain joins a list of western European countries scheduled to hold elections this year. Votes in France in April and May, and in Germany in September, have the potential to reshape the political landscape around the two years of Brexit talks with the EU expected to start in earnest in June.

WEDNESDAY APRIL 19, 2017 • T H I S D AY

NEWSEXTRA

Bakassi People Angry with Osinbajo, FG Bassey Inyang in Calabar The displaced people of Bakassi Local Government Area in Cross River State have expressed their anger with the Vice President, Yemi Osinbajo, and the federal government for his failure to visit the state during his recent trouble –shooting mission to states in the Niger Delta region. The Bakassi people stated this yesterday in Calabar as they also took a swipe at the former President Chief Olusegun Obasanjo, saying he would take the blame eternally for handing over Bakassi to Cameroon, until the displaced people were properly resettled. Addressing a press conference

in Calabar, the paramount ruler of Bakassi, Etinyin Etim Okon Edet, said it was an act of disregard and discrimination against the Bakassi people by the vice-president, and the federal government. Edet said the vice-president visited Akwa Ibom and other states in the Niger Delta region, but failed to visit Cross River State, which has problems of militancy and the problem of kidnapping, which started after the ceding of Bakassi to Cameroon. “I want to tell the vice-president who visited other areas that we are angry; particularly, the Bakassi people are angry with him, and the federal government; and that he has to visit us to actually know

Finding Chibok Girls May Take Years, Defence Minister Warns The Minister of Defence, BrigGeneral Manir Dan Ali (rtd), has warned that it may take years to find all the Chibok girls kidnapped by the militant group Boko Haram in 2014. Speaking to VOA’s Hausa Service, General Manir Dan Ali said the military is searching Boko Haram’s hideouts in the Sambisa Forest, a vast area covering parts of three states in northeastern Nigeria. He noted that it took a long time for the United States to find 9/11 mastermind Osama bin Laden. “It took the US up to seven, eight, up to 10 years before they could get to bin Laden,” he said. “We are continuing our campaigning in the Sambisa Forest in all its nooks and corners.” Ali spoke to VOA as activists mark the third anniversary of the girls’ abductions. Boko Haram kidnapped 276 students from Government Secondary School, Chibok, Borno State, on April 13, 2014. There are 195 girls still missing.

In 2014, Boko Haram seized control of much of north-eastern Nigeria but has been driven back by a Nigerian-led multinational military campaign. Despite the success, the government’s inability to find the girls or determine their fate is overshadowing the military victory. Sheikh Nuru Khalid, a member of the influential Interfaith group that tries to ensure peace between Nigerian Muslims and Christians, says failure to find the girls would translate into a victory for Boko Haram. “We can never allow the terrorists to win the war. If they got (away) free with those girls, then they have relatively won the war,” he said. Human rights lawyer, Abdu Bulama Bukar, told VOA Hausa Service that the government needs to address the psychological trauma suffered by the families of the missing girls and other victims of Boko Haram brutality.

the plight, not only of this state, but Bakassi people. Edet, who said Obasanjo was the “main actor” in the ceding of Bakassi to Cameroon, failed to resettled them despite his promise to do so. “Obasanjo made promises to us. We thought that he would be sincere. The way he met with us severally at the villa. I was a regular visitor at the villa. The way he talked to us as the father of the nation. The way he spoke with me personally, I was very sure that the Nigerian nation was going to do something. “He promised us that we are going to leave to anywhere we are going to go, anywhere of our choice with all our institutions intact. We were never given that choice. Until now we have not been given that choice. He is still alive. He should also say something whether it was good for him as president to have ceded the area and told us to vacate the area without provision of anything. The Bakassi issue would be hanging on his neck and I think he should get it off his neck before God calls him. He never fulfilled any of those things. “We are sure God will come by

in this matter. We would not go to war, but the tears of the people would go to God. Those of them who have done us this harm, God will fight this fight, unless they go back and do what the promised they will do. My hope is on God and the Nigerian nation,” the monarch said. He, therefore, state that the displaced people are calling n the federal government to implement the report of the presidential committee on a proper resettlement of the Bakassi people, which was established by the erstwhile administration of President Goodluck Jonathan. The paramount ruler lamented that the report has not been implemented for about four years after since it was handed over to the federal government. In the report cited by THISDAY, the presidential committee, among others, recommended that “the primary focus of the government should be to relocate the people to an environment where they can live comfortably and practice their profession.” The committee also recommended that, “the relevant agencies of the federal, state governments, and the people

must be involved in the physical planning and development of infrastructure in the area i.e. Dayspring 1, Dayspring 2 and Kwa Islands and a blueprint of necessary infrastructure be provided with required costing by organs of government.” It also recommended the establishment of a N100 billion Special Fund for Bakassi development to be driven by the community, and monies realised, and or allocated to the Fund be utilised for education, job creation activities, long term infrastructural development, business enterprise development, and enhancement of tourism for the people. “The committee submitted their report on May 23, 2013 with strong recommendation as contained in that report. Four years after the submission of the report to the federal government, nothing has been heard about it. What offence did we commit? “Our present situation as a people is highly pathetic and worrisome as it is very painful for one to forgo his or her ancestral home and in such circumstances as we have found ourselves. We were hopeful that the federal government would implement the recommendations of the

committee and end the matter in our collective interest.” According to him, “Before the ceding of Bakassi, there were four built-up secondary schools (one of which was built by the NDDC with staff quarters) and all were fully equipped. There were also over 42 primary schools and two secondary schools, a comprehensive health clinic and over 10 health centres and an ambulance boat. What then have become the fate of these helpless youths, pregnant women, elderly people and children who have now been displaced forgotten and denied access to sound education and healthcare through no fault of their own? Do we think the increased rate of militancy and sea-piracy in the Bakassi area and by extension the Gulf of Guinea in the near future? “Please note that the October 10, 2002 ICJ judgment affected the maritime boundary of Bakassi and the land boundary of the Lake Chad region of Adamawa, Borno, Taraba and other states. In the land area, the federal government had resettled the people. Why is the Bakassi resettlement dragging?” Edet stated.

Scores March for Slain Bayelsa Journalist Emmanuel Addeh in Yenagoa Several journalists practising in Yenagoa, Bayelsa State, yesterday held a funeral procession in honour of their late colleague, Famous Giobaro, the slain radio editor with the state-owned Glory FM 97.1. Giobaro’s assailants broke into his apartment at INEC Road, Kpansia, Yenagoa, last Sunday and shot him repeatedly in his stomach until he died. During yesterday’s march, men of the pen profession in the state, dressed in black, converged on the premises of Glory FM on Azikoro Road, Ekeki area of Yenagoa metropolis to mourn the fallen journalist. Many were seen trying very hard to control their tears, while a few others, particularly women, gave in to emotion, wailing and sobbing. Led by the Director of News and Current Affairs, Glory FM, Mrs. Timibi Samy-Ebie, the placardswielding journalists trekked from the radio station’s premises several kilometres to Kpansia area before returning to the radio station where sympathisers and colleagues paid tributes. Samy-Ebie urged the relevant authorities to investigate the matter and bring the perpetrators to book. ‘’The killers succeeded in entering the house and ended his life. Even

if somebody has done something to you, in any form any manner, is that the right way to go about it? “Our youths should be called to order. They should think of how to go to God and not to kill one another. The drugs they are taking, let them stop it. I am calling on the police, the security agencies in Bayelsa State and Nigeria to beef up security,” she said. On its part, the Federated Correspondents’ Chapel of Nigeria Union of Journalists, Bayelsa State council, condemned the murder of Giobaro. Chairman of the chapel, Kola Oredipe, and the Secretary, Chris Eze, in a statement, noted that the death of the journalist was callous and wicked. “The death of Giobaro, who was a jolly good fellow is a great loss to the journalism profession. ‘’We hereby call on the Bayelsa State Government and the Bayelsa State Police Command, to immediately cause an investigation into the gruesome murder to unravel those behind the killing. ‘’This must not go as one of the unresolved killings of journalists across the country,” the chapel warned, as it commiserated with the immediate family of late Giobaro and management and staff of Glory FM.

DIPLOMATIC VISIT

L-R: Director of Operations, Dangote Refinery, George Nicholas; United States Ambassador to Nigeria, Stuart W. Symington; Group Executive Director, Strategy, Capital Projects and Portfolio Development, Dangote Industries Limited, Devakumar Edwin, and Technical Consultant to the President/CE on Refinery and Petrochemical Projects, Dangote Industries Limited, Mr. Babajide Soyode, during the US Ambassador’s visit to Dangote Refinery, Petrochemical and Fertilizer Plant in Lekki, Lagos....yesterday

Insecurity: NAF to Induct Two Newly Acquired Mi-35M Attack Helicopters More expected from Russia The Nigerian Air Force (NAF) will induct two newly acquired Mi-35M attack helicopters into its inventory to help improve the aerial component of the counter-terrorism and counter-insurgency operations against Boko Haram terrorists in the North-east. The Chairman of Organising Committee, NAF DAY Celebrations 2017, Air Vice Marshal Isiaka Amao, disclosed this while briefing journalists in Abuja as part of the activities lined up for the event. Amao said more of the latest version of Mi-35M are expected from Russia as well as trained pilot officers to be deployed in conflict zones across the country. He noted that the air force has

expanded their scope of operations beyond the North-eastern enclaves of Boko Haram, having almost achieved their mission in the area. He said: “Two Mi-35M are to be inducted and more are being expected. Others are actually on their way. We are focusing beyond the North-east not just because we have decimated the Boko Haram terrorists but because there are other security challenges in other parts of the country. So we are looking at the country as a whole not just limited to the Boko Haram issue. “The Mi-35M is an attack helicopters with precision strike and night vision capability. It is a new version of Mi-35M. It is one of the best in the world and

all weather. “We have been able to sniff out Boko Haram from their enclaves, also in South South we have been able to limit the activities of the Niger Delta militants. There is also appreciable activities in the North-west and North-central where we have limited the activities of the herdsmen and cattle rustling,” he added. Speaking further, he said the for the 2017 NAF Day celebration: ‘Employment of Air Power for Enduring National Security’ is with the view that the priority of NAF lies in the consolidation of the gains of air power employment. Amao also listed series of activities slated to mark the celebration to include: medical

outreach, air weapons meet, gala night, ceremonial parade and winging of new pilots. Others are presentation of colours to Special Operations Command, induction of the Mi-35M as well as aerial and static display. The organising committee chairman also said medical outreach programme would be conducted throughout the period of the celebration for people living within the immediate host communities around NAF bases. “This offers the unique opportunity to give back to the society. It is also a viable medium to appreciate Nigerians for their support and goodwill over the years,” he added.

WEDNESDAY APRIL 19, 2017 • T H I S D AY

NEWSEXTRA

UN Commends Launch of Nigeria’s Economic Recovery Plan Calls for tougher policies to sustain gains in human development index Alex Enumah in Abuja The United Nations has commended the recent launch of the Economic Recovery and Growth Plan (ERGP) by the Federal Government of Nigeria, noting that the plan with its several medium-term policies and programmes is capable of keeping Nigeria on a positive development trajectory since it focuses on restoring growth, investing in people and building a globally competitive economy. The UNDP Resident Representative, Mr. Edward Kallon, who stated this yesterday, in Abuja, at the launch of UNDP Human Development Report (HDR) 2016 also expressed optimism that Nigeria has what it takes to surmount her challenges and pledged support of the world body in this regard. “As the 2014 HDR aptly noted success is not automatic and gains are not necessarily permanent. “In this regard, I am glad to note that the Economic Recovery and Growth Plan (ERGP) with focus on restoring growth, investing in people and building a competitive economy recently launched by the federal government outlines several medium-term policies and programmes that can keep Nigeria on a positive

development trajectory.” Kallon, who commended the significant increase in Human Development Index in Africa noted that Nigeria recorded 13.1 per cent increase between 2005 and 2015. He, however, lamented that issues such as insecurity and the drop in prices of export commodities which are major earners in sub-Saharan Africa are fast eroding on this gains. He called on Nigeria to as a matter of urgency find lasting solution to these challenges in order to bring about enduring development in the country. “The report shows that between 2005 and 2015, Nigeria’s HDI increased from 0.466 to 0.527 - a 13.1 per cent increase. “This is encouraging, but given the humanitarian challenges already alluded to, and the economic recession witnessed in 2016, there is an urgent need to design policies and programmes to ensure that the upward trend in human development is not reversed. To address the twin problems of economic recession and humanitarian crisis facing the country, Kallon advised that the nation utilises the opportunity provided by the national launch of this report to promote policy dialogue, at both national and

APC: Buhari Won’t Be Distracted by Fayose’s Rantings Victor Ogunje in Ado Ekiti Following criticisms by Governor Ayodele Fayose that some looters were allegedly hiding stolen funds in Aso Villa in Abuja, the All Progressives Congress (APC) has said no amount of blackmail will derail the anti-graft war being waged by the party at the federal level. The party stated that Fayose’s tantrums against President Muhammadu Buhari was geared towards shielding members of the Peoples Democratic Party (PDP) from being made to account for the money they allegedly looted under President Goodluck Jonathan-led government. The Deputy Chairman of the party in Ekiti State, Mrs. Kemi Olaleye, said this in Ado Ekiti yesterday while receiving some gift items from a governorship aspirant, Kayode Ojo, at the party’s secretariat. Fayose had on Monday accused some Buhari’s confidants and top members of APC of stocking looted funds in Aso Villa to prevent them from the eyes of the Economic and Financial Crimes Commission (EFCC), describing this scenario as selective and provocative. Olaleye, who described Fayose’s allegation as baseless and spurious, said: “Ordinarily, I would not have dignified Fayose with a response, but for the purpose of clarity, his noise was targeted at derailing the war against corruption. “How can Fayose accuse anybody of corruption? In Ekiti State, he is the Finance

Commissioner, the Accountant General, in fact, he is acting like all-in-all. He is afraid of being dealt with after leaving office, hence he has resorted to blackmail and diversionary tactics. “We are solidly behind Buhari’s government in his war against corruption. Nothing can derail our fight against corruption, because we are determined to deal with corruption squarely. So, this is just a noise to distract Buhari,” she stated. Olaleye assured that the primary to pick candidate for the 2018 poll would be credible, free and fair and devoid of imposition. Presenting the gift to the party, Ojo promised to do more to palliate the sufferings of the APC members, who are now in opposition in the state. Ojo, who was represented by former commissioner in Ekiti State Universal Basic Education Board, Mr. Richard Apolola, added: “We are going to win and make the state proud if given the ticket of the party. “Apart from that, all the party members will be treated equally, because I don’t believe in segregation or division among party members. As an aspirant, I am to serve as a rallying point for all and not to cause unnecessary cleavage that can affect our chances in 2018.” Ojo pledged more supports for the party, urging his contemporaries to uphold party supremacy and act within the ambit of the party’s laid down rules for the primary to be a success.

sub-national levels. The Minister of State for Budget and National Planning, Mrs. Zainab Ahmed, in her remarks, said the launch of the report was timely. Ahmed said the report provided an independent and data-based analysis of why certain groups tend to be more disadvantaged and highlights the persistent barriers to achieving

sustainable human development for all. She said it also came on the heels of the recently launched NERGP which she said would define the country’s economic trajectory for the next four years, by ensuring sustained, inclusive and diversified growth. ``The report comes as Nigeria works to actively implement programs aimed at meeting the

Sustainable Development Goals (SDGs), both at the federal and state levels,” she said. The minister said government was working proactively to address the current economic challenges facing the Nation, and to implement policies and programmes that promote human development. According to her the programmes would ensure that `no one is left behind’.

``We will also strive to ensure that the disadvantaged communities receive the extra support they need. This includes those living in conflict affected areas, women and girls, and rural communities. ``Government is striving to ensure that human development progress is more resilient to shocks, such as epidemics, economic challenges, conflicts.

PRODUCTPROMOTION

L-R:ActingChiefExecutiveOfficer,OVHEnergyMarketing,Mrs.OlaposiWilliams; Head,Lubes,Mrs.Lillianlkokwu; Manager,Oando Autocare,Apapa,Mr. Akinola Omotosho;andHead,MarketingandLPG, Mr. GaniyuAzeez,duringthethirdeditionofthe OVHEnergyMarketingOleum free car diagnosticsat theNationalStadium.....recently AbiodunAjala

Nigerian Arrested for Multiple Bank Robberies in US A Nigerian was arrested for robbing four Manhattan banks, all during his lunch hour, New York Police said. Abdullahi Shuaibu, 53, was picked up by police on Monday and charged with robbery and attempted robbery for the crimes committed during his two-month spree. All four banks are within walking distance of UN headquarters on First Ave. near E. 42nd St., where the Nigerian worked. Authorities were led to the suspect after a retired police officer who works at the UN recognised

him from a surveillance image previously released by the police. In the first incident, Shuaibu walked into a Santander Bank on Madison Ave. near E. 43rd St. on February 27 and told the teller he had a gun. The bank employee complied and handed him an unknown sum of money. He hit two more banks in March, first striking out at a Bank of America on Third Ave. near E. 47th St. on the 13th. He was also successful in robbing a Santander Bank on Third Ave. and E. 63rd St. on the 27th. During the most recent incident

on Monday, Shuaibu walked into an HSBC on Third Ave. and E. 40th St. around 2:30 p.m. and passed a note demanding cash to the teller. The teller did not read the note and asked him for identification. He, however, instructed the teller to read the note, keeping his hand in his jacket pocket while simulating a gun, police said. Police arrested him later in the day when he returned to the UN. Shuaibu was an employee of the News Agency of Nigeria (NAN) and served as its UN correspondent between 2006 and 2009. The agency, however, terminated his appointment in April 2013

following his refusal to resume work in Nigeria at the expiration of duty tour and extended period which he requested to enable him complete an academic programme. The termination of appointment was formally conveyed to the UN. A UN spokesman Stephane Dujarric denied that Shuaibu was a staff of the organisation. He told NAN in New York that the suspect was also not accredited to the UN after NAN withdrew his accreditation. Dujarric also said the suspect only worked as a contract staff for three months in Darfur and his contract was terminated in 2012.

Abducted Ondo Monarch Released James Sowole in Akure The abducted traditional ruler of Iyani Akoko, the Oniyani of Iyani Akoko in Akoko South West Local Government Area of Ondo State, Oba Joel Daodu, was late yesterday released by his abductors. THISDAY learnt that the Oba, who was abducted last Saturday on Owo-Ose axis on Owo-Ikare Road, was dropped at Ogbese by the abductors along with his second-in-command, that was in the same car with him. The abductors, who had earlier demanded N15 million ransom before they could release the captives, on Sunday reduced

the Ransom to N3 million. An inside source said the monarch must have been released sequel to payment of ransom. As at the time of filling this report, the monarch was still at the police station at Iyani. Confirming the release of the monarch, the state Police Public Relations Officer (PPRO), for the Ondo State Command, Mr Femi Joseph said he was yet to get details but said the freed monarch was with the police. Meanwhile, the Ondo State Governor, Mr. Oluwarotimi Akeredolu (SAN), has congratulated the monarch for his release. Akeredolu, who hailed the security agencies in the state

for their efforts in ensuring the release of the monarch, said his administration is determined to make the state unsafe for criminally-minded people. In a statement from the office of his Chief Press Secretary, Mr. Segun Ajiboye, the governor assured the people of the state of his administration’s commitment to their safety. Akeredolu said all relevant security agencies had been put on red alert to prevent recurrence and other criminal activities in the state. While celebrating the release of the monarch as the triumph of light over darkness, the governor warned criminal minded persons in the state to either turn a new leaf or stay off the state. He also

called on youths in the state to eschew violence and engage in legitimate means of livelihood.

Daodu

WEDNESDAY APRIL 19, 2017 • T H I S D AY

NEWSEXTRA

IG: Why Military Took over Battle against Insurgency from Police Paul Obi in Abuja Inspector General of Police (IG), Ibrahim Idris, yesterday gave reasons why the Nigerian military took the front role from the police in confronting internal crises in the country. He debunked claims by some international rights groups, particularly, Amnesty International, alleging rights violations by security agencies engaging in the management of internal crises in the country. Idris said: “The military was at the forefront of battle against resource-based and sectarian insurgency in the country rather than the Police, is the primary institution saddled with responsibility of dealing with internal security, because the Police had no sophisticated weapons to match those being used by insurgents.” His made this known during a keynote address he presented yesterday in Abuja at a seminar with the theme: ‘Counter Insurgency, Human Rights and Good Governance in the context of Nigeria Situation’ organised by a civil society organisation under the aegis of Global Amnesty Watch, GAW. “The police being the primary institution saddled with the responsibility of internal security had much to contend with in the

rising wave of resource-based and sectarian insurgency hence, the military had to step in to assist as the police had no sophisticated weapons to match the ones used by the insurgents,” he stressed. Idris further stated: “Over the years, the police along with the military and other paramilitary agencies have continued to engage the insurgents with a view to subdue them and in all the operations, the rules of engagement are being applied in line with the internal best practices. “In the course of the counter insurgency operations by the security forces, there has been no intent or design to abuse the fundamental human rights of either the insurgents nor that of civilian populace. “However, during some raids on insurgents hideouts, it was possible that some innocent ones were arrested along with the culprits but usually, screening and investigations are being carried out and subsequently those considered innocent were immediately released,” he added. “It is therefore unfortunate that the above situation is being misunderstood and being taken to mean intentional actions aimed at violating the fundamental rights of the people by the human rights observers, “he said, adding that “the police may say that human rights violations are myth rather

St. Paul’s Church in Ohambele Marks 150th Anniversary The Church of Nigeria, Anglican Communion, Diocese of UkwaOhambele Archdeaconry in Abia State will celebrate its 150th anniversary of the advent of Christianity in Ohambele ancient town between April 21, 2017 to April 23, 2017. According to a statement by the Chairman of the anniversary steering committee, Sir Marc Wabara, the occasion which will attract many important personalities from all over the country and beyond, will be chaired by the former Senate President, Chief Adolphus Wabara. Former Governor of Abia State, Chief Orji Uzor Kalu, will be the special guest of honour, while Chief Musa Danjuma, the Executive Chairman, Nigeria

America Line Limited and Comet Shipping Agencies Nigeria Limited is the guest of honour. Also, Emmanuel Ndubuisi Mbaka, the MD/CEO Platinum Savings and Loans Limited, would be the chief launcher and guest of honour. The three-day event will commence with an opening service/rally on Friday, April 21, 2017 at 12noon and would be followed on Saturday, April 22, 2017, by a medical seminar/ free medical care which starts at 9a.m. The celebration would be rounded up on Sunday, April 23, 2017 by the 150th anniversary thanksgiving/fund-raising for the construction of the N100 million, Archdeaconry House and office complex in the town.

Obaseki Commiserates with Anenih over Wife’s Passing Adibe Emenyonu in Benin City Governor Godwin Obaseki of Edo State has commiserated with the former Chairman, Board of Trustees (BoT) of the Peoples Democratic Party (PDP), Chief Tony Anenih, on the passing of his wife, describing the demise as a sad and unprecedented departure. A statement from the Office of his Chief Press Secretary said: “Governor Godwin Obaseki harbours immense respect for Anenih and that he could understand what the eminent politician was going through. “As an elder statesman and

recognised political leader from Edo state, it behoves us to rally around you and surround you with our love at this trying moment regardless of our political affiliations and persuasions.” Meanwhile, the governor urged Anenih to look unto God for guidance and strength to cope in such a difficult time, saying that God had a plan for everyone. “Sometimes, things happen that are beyond our comprehension, we only know what little is revealed to us. This is why we must look up to God for explanations and revelations, and so that we don’t feel lost and alone in the world,” he said.

than reality.” Country Representatives of Global Amnesty Watch, Mrs Helen Adesola, charged stakeholders security and community not to

assess situations in manners that do not place terrorists and other killers at disadvantage while criminalising security agencies. She said: “In the early years of

the current wave of religious and extremism driven terrorism, the tendency was for these evil acts to be committed in predominantly Islamic countries or persons from

these places. “It was a question of time before the poison was exported to Nigeria and other countries with mixed religious populations,” Adesola said.

EASTER GET-TOGETHER

L-R: Chairman, House of Representatives Committee on Agriculture and Rural Development, Hon. Oladipupo Adebutu; Chairman, Peoples Democratic Party (PDP) in Ogun State, Hon. Sikirulai Ogundele; Lotto Magnate, Sir Kensington Adebutu; and former Ogun State Governor, Mr. Gbenga Daniel, during the Easter party hosted by Adebutu in Ijebu-Remo, Ogun State....Monday

LASG Introduces Compulsory Insurance of Buildings under Construction Laments low compliance of safety measures by companies Gboyega Akinsanmi Disturbed by high rate of building collapse, the Lagos State Government yesterday disclosed that it had concluded plan to introduce compulsory insurance for all buildings under construction within its territory. Likewise, the state government lamented low compliance with safety measures and regulations among construction and manufacturing companies, saying it would no longer tolerate its safety rules. The Director-General of Lagos State Safety Commission, Mr. Hakeem Dickson, said this yesterday at a news conference

he addressed to announce the 2017 Naija Safe Awards, an initiative of Safety Records. Dickson addressed the conference alongside the Director of Compliance and Enforcement, Mrs. Ronke Adeneye, noting that nomination for the awards would begin April 11 and end May 7. At the conference, Dickson said the introduction of the insurance scheme was necessitated by the increasing number of collapsed buildings in the state, some of which he said was due to the use of substandard materials. As a people, the director-general said the state government would enforce safety measures, regulations and rules, which he said, would

prevent danger both at home and at workplaces. He added that the state government “must prevent disaster from happening. We should not wait for it to happen and begin to lament loss of relations and other lives both at home and at our places of work. “A lot of accidents that happened in the state are avoidable. So, the safety commission intends to introduce compulsory insurance of all buildings in the state in synergy with consortium of insurance companies and the National Insurance Commission (NAICOM),” Dickson said. He, also, noted that the commission had embarked on

many proactive measures “to improve safety in all facets of lives through sensitization campaigns targeted at all stakeholders so that they can engage in do-it-yourself measures without being prompted.” He added that the grassroots “is not left out in the drive to bring safety to all nooks and crannies of the state. That is why we have a department in the commission that takes care of safety issues. “There is a better safety awareness in most public institutions, improve safety culture among the various sectors, water safety, food scrutiny, hospitals, motor parks, school safety, manufacturing, construction, event centres and amusement parks among others,” he said.

IMN Protests, Demands Release of El-Zakzaky Members of the Islamic Movement in Nigeria (IMN) otherwise known as Shiite, yesterday in Kaduna protested against the continuous detention of their leader, Sheikh Ibrahim El-Zakzaky, by the federal government. El-Zakzaky and his wife were arrested on December 15, 2015, following a clash between his followers and the Nigerian Army in Zaria. Over 300 members of the religious group were allegedly killed during the incident by soldiers. An Abuja High Court presided over by Justice Gabriel Kolawole had in December 2, 2016, ordered for the release of El-Zakzaky and his wife from detention into an

accommodation that must be provided for them within 45 days and N50 million be paid to them as general damages. The judge had ruled that the continued detention of the duo violated their rights under Section 35 (1) of the constitution and provisions of the African Charter on Human and Peoples Rights. However, dissatisfied with the decision of the court, the federal government had in February appealed the ruling of the court. Hundreds of the Shiite members trooped out for the peaceful procession along the Nnamdi Azikwe Western bypass carrying placards demanding the

release of their leader. They were however dispersed by police who threw teargas at them near Bakinruwa junction. IMN, in a statement by Ibrahim Musa, its spokesman, alleged that the police opened fire on the protesters, adding that a Muslim woman was severely wounded. The statement also accused the police for allegedly inviting thugs to attack the Shiite members. “Eye witnesses confirmed that the police invited some thugs to join them in the attack on IMN members as has been their practice lately. “However, the peaceful protest was successfully brought to an end before the situation could get out

of control. “IMN leaders have expressed shock and surprise at the use of force by the police in Kaduna on peaceful citizens exercising their civil rights to protest, unlike in other towns and state capitals such as Katsina, Bauchi, Gombe, Minna and other places where such peaceful ‘free Zakzaky’ protests were held and ended peacefully,” the statement said. However, all efforts to get the reaction of the police was abortive, as the spokesman of the Kaduna State police command, Usman Aliyu, was not responding to THISDAY phone calls, neither did he respond to text messages sent to his mobile phone.

WEDNESDAY APRIL 19, 2017 • T H I S D AY

NEWSEXTRA

Southern Kaduna Killings: Catholic Church Accuses El-Rufai of Alleged Bias John Shiklam in Kaduna The Catholic Diocese of Kafanchan, Kaduna State, has accused the state Governor, Nasir El-Rufai, of alleged bias in tackling the frequent killings by herdsmen in the southern part of the state. In a statement yesterday, the Bishop of the diocese who is also the Chairman of Southern Kaduna Elders’ Association, Most Revd. Joseph Danlami Bagobiri, alleged that the governor was using state apparatus to harass and intimidate those who dare challenge the manner in which the crisis is being handled. Bagobir condemned last Saturday’s attack on Asso village where 13 people were killed by suspected herdsmen. The statement reads in part: ”Having presided over the mass burial of at least 10 Catholics along with their parish priest, Revd Fr. Alexander Yayock, the following day, I’m by conscience compelled to make the following statements: “The attitude of the state government has been marred by lots of complicity and bias which exacerbated rather than ameliorated tensions. “The governor in most cases seemed to have abdicated his responsibility of being governor to all us, and instead, gave in to the luxury of waging an unrelenting media campaign against Southern Kaduna people. “He unabashedly takes sides with the armed herdsmen (His kinsmen) thereby failing in his responsibility as a true statesman, becoming therefore a biased umpire who blames and criminalises Southern

Kaduna victims as the cause of the mayhem. “The governor has made several efforts in the media to discredit figure of casualties that were arrived at through painstaking research, and is known for trying to change the true narrative by presenting the victims as the villain and the aggressors as the prey. “The governor has the penchance of using state apparatus to insult, denigrate, intimidate, arrest and put in prison all voices of reason from Southern Kaduna who dare to challenge his handling of this crisis. “ Among those that have fallen victims of his tyranny are traditional rulers, journalists, youths, political leaders, academicians, while threatening our lawyers and other leaders (religious and unions) with arrest for daring to speak out against the genocide. “The primary responsibility of government as enshrined in the constitution is the protection of life and property of citizens irrespective of ethnic and/or religious persuasion. “Any breach of this fundamental principle of social contract contravenes the very reason for which government exists for. “Unfortunately, our government, both at the federal and state levels has failed woefully in this regard because of their inability to rise above ethnic and religious bias. “If anything, government has shown outright partisanship in favour of the herdsmen to the disappointment of the majority Southern Kaduna indigenes. “Because of government’s inability to serve as an un-

biased umpire in the face of these crises, we are sometimes tempted to believe that there is a well-planned Jihad against the people of Southern Kaduna and Christians generally in Northern Nigeria as this is amply demonstrated by the incessant attacks and atrocities against the aborigines of the Middle Belt region in Northern Nigeria. “The sole aim of these attacks is to conquer our people and occupy their lush lands and turn same into grazing fields for the marauding nomads. “The governor of Kaduna State is pursuing this detestable policy by his plan to forcefully take over lands in Southern Kaduna and turn same to grazing reserves and routes for his kinsmen. “To show government’s insensitivity on this volatile matter, there are ongoing expansionist plans to annex more land to the already existing grazing reserves at Ladduga in Ikulu chiefdom of

Zangon Kataf Local Government Area and transmute that locality from being a district into an emirate. “The killings continue unabatedly in fields and bushes, thereby preventing farmers from visiting and cultivating their lands. “This is happening today as the military and other security forces mount road blocks in towns and major roads while bushes remain un-safe for farming. “In the Godogodo and Pasakori attacks in Jemaá Local Government Area for example, the military merely watched and supervised the killings and burning of homes on the pretext that their mandate did not include fighting the herdsmen. “When the youths mobilised themselves to repel the attackers, the soldiers deliberately blocked them from entering the town. “The herdsmen and their collaborators turned the towns into killing fields and killed

mostly women, children and the elderly who couldn’t run for cover. “The level of barbarity was such that pregnant women got their wombs blown out and massacred before their children. And these innocent children were not spared either. This level of viciousness was never witnessed even in the brutal tyranny and regime of Adolf Hitler. “What is most intriguing is the level of sophistication of weapons; AK 47, machine guns and many other deadly instruments of death are being freely used by the herdsmen, leaving wondering how these weapons got to their hands..... “The killings with impunity in Southern Kaduna must not be allowed to continue. And government in the state has a special and irreplaceable role in bringing this scourge to an end. The current government in the state must follow the example

of past governments by initiating measures that would unify rather than divide the people of the state on ethnic and religious lines as this government has been doing since its inception. “We have had our challenges on harmonious coexistence in the past. But past governments demonstrated statesmanship in governance by bringing stakeholders across board to parley on how to resolve our indifference. The current administration in the state seems to dread this kind of interface which had proven to be effective in the past. “Government must change its attitude from alignment with people of one ethno-religious group in the State, she must resist the temptation of acting as the mouthpiece of one group against others and begin to display true statesmanship in seeing and treating the entire state as its constituency.”

Defamation: Danbaba, APC Chieftain to Settle Case Out-of-Court Mohammed Aminu in Sokoto The North-west Zonal Vice Chairman of the All Progressives Congress (APC), Alhaji Inuwa Abdulkadir and the Magajin Garin Sokoto, Alhaji Hassan Danbaba, yesterday resolved to settle out-of-court a suit filed by the APC chieftain at the Sokoto High Court. In the suit filed on March 17 by the counsel to Abdulkadir against Danbaba and the District Head of Gumbi, Alhaji Sama’ila Abdulkadir, the zonal vice chairman sought for N500 million being general damages suffered by the plaintiff arising from the defamation of character and reputation by the defendants as contained in the publication made by Danbaba dated August 19, 2016. Other reliefs sought by the APC chieftain include a retraction of the defamatory statements and unequivocal apology to the plaintiff all within 14 days of delivery of judgment and to be published in three newspapers. When the case came up for mention at the High Court yesterday, the defence counsel, Prof. Yusuf Dankofo, sought for an adjournment of the case to May 9, 2017 as his client was exploring the possibilities of settlement out of court which was not objected by the counsel to Abdulkadir, Jacob

Ochidi. In his ruling, the presiding judge, Justice Malami Umar Dogondaji, adjourned the case to May 9 for report of settlement or for further mentioning. He also adjourned till May 4, 2017 for the commencement of hearing on the two cases filed by Danbaba, asking the court to squash the proceeding of the Shariah Court and the one challenging the manner in which he was served with the criminal summon. Danbaba, who is a member of the Sultanate Council, had in a publication few months ago, alleged that the parents of the APC Zonal Vice Chairman were slaves and that his father was bought at the price of two shillings. Based on the foregoing, the Upper Shari’ah Court ordered the Sokoto State Commissioner of Police to arrest and detain Danbaba pending a further directive from the court for his refusal to appear before it despite being served with summon through the Secretary to the Sultanate Council. However, Danbaba filed a suit at the Sokoto High Court, asking it to quash the directive of the Shari’ah Court. He also filed another motion challenging the manner in which he was served with the criminal summon.

DOUBLE IMPACT MANAGERS

L-R: Managing Director, Verbatim Communication Limited, Bidemi Mark-Mordi; Chief Operating Officer, Pure Technical Services Limited, Sam Orungbe; Convener, Double Impact Platform, Co-Founder and Executive Director, Falcon Corporation Limited, Audrey Joe-Ezigbo; Partner, AVERTI Professional Managers , Inyang Sami-Orungbe, at the April edition of Double Impact in Lagos....recently.

Only Federal High Court in Bayelsa Still Shut Despite Public Outcry Emmanuel Addeh in Yenagoa Despite the public outcry that has trailed the shutting down of the only Federal High Court in Bayelsa State, the premises of the court remained deserted yesterday, following the inability of the presiding justices to sit. For close to eight months, the court has been without any activity as Justice Ajiya Nganjiwa, currently under the radar of the National Judicial Council (NJC), has stayed away from work. The same goes for the National Industrial Court (NIC), where justice Terseer Agbadu-Fishim, the presiding judge is said to be under investigation by the judicial authorities. However, THISDAY learnt yesterday that thousands of cases before the courts have continued to suffer even as suspects, whose

applications for bail were yet to be granted before the probe of the judges, continue to languish in jail. Aside that, high profile public interest cases like that of Miss Ese Oruru, who was allegedly forcibly taken away and married off and that of the trial of suspected kidnappers of Governor Seriake Dickson’s sister, Nancy continue to pend. Yesterday, authorities of the National Drug Law Enforcement Agency (NDLEA), in the state equally decried their inability to effectively carry out their functions since they can neither prosecute ongoing cases or charge new ones to court. In the same vein, the Nigeria Bar Association (NBA) Bayelsa, during a press conference had called on the NJC to either allow the judges return to work or replace them.

The Bayelsa State Government, through the office of the Attorney General, said it had made several representations to the judicial authorities in Abuja, without results. One of the foremost lawyers handling several cases in the high court , Mr. Kayode Olaosebikan, told THISDAY yesterday that apart from the human rights angle to the closure of the court, lawyers were also losing the opportunity to do business on a daily basis. “For those of us that have criminal matters that our clients are not on bail , they are languishing in the cell. Some of them have their bail applications pending. “The Federal High Court, by virtue of their jurisdiction, only they can sit on some specific matters. All the suspects are being held in custody by the security agencies in perpetuity. The court is not sitting,”

Olaosebikan said. He added that lawyers in the state have also been struggling to make ends meet as a result of the closure of the federal courts. “On the business part of it, the income that should be coming from the federal high court is not coming in. It’s a terrible situation. “That is why we have made suggestions to the authorities right from time. If somebody is on interdiction or on suspension, if you feel there’s no case, because we are not aware of any case that has been brought against the judge, if he has no case to answer, let him come back to his job. “And if you don’t feel comfortable with his coming back, make a replacement. We are hoping that after this Easter break, things will be sorted. We have led several press conferences, led delegations, yet there has been no headway,” he lamented.

WEDNESDAY APRIL 19, 2017 • T H I S D AY

CRIME&PUNISHMENT

Police Arrest, Kill Mastermind of Ikorodu Killings Chiemelie Ezeobi

The Inspector General of Police Intelligence Response Team (IRT), yesterday trailed and gunned down one Endurance Ominisan, Aka

Mighty, the mastermind of the recent murder of two soldiers, four policemen and countless civilians at the Ikorodu area of Lagos. Ominisan, a notorious militantcum-kidnapper, had first engaged

Police Avert Bloody Clash between APC Factions in Abia Uchenna Nwosu Police and the Abia State Chapter of the All Progressives Congress (APC) state officials yesterday averted what could have led to a violent clash between two factions of the APC in Isiala Ngwa South council area in the state, as two opposing camps prepared to open their offices and inaugurate their executives at different locations in Omoba, the headquarters of the council area. Trouble started when the party executive led by Ezekiel Nwoagwugwu was reportedly sacked by some Ward chairmen and stakeholders in the area led by a former Chairman, Isiala Ngwa council area, Uzoma Uwa, and former Senator, Dr. Bob Nwannunu, on the allegations of incompetence, corruption, lack of due process in the conduct of party business, anti-party activities among others. The stakeholders and ward

chairmen who said they invoked ‘Article 21, Subsection D’ of the party’s constitution to dismiss the Nwoagwugwu-led exco, replaced it with a new 16-member executive headed by Onyenma Godwin Nwamara. THISDAY was told that the letter of sack detailing the offences of the executive was signed by chieftains of the party and eight of the 10 ward chairmen in the area in March this year, but the dissolution did not go down well with the party officials who accused the party chieftains and ward chairmen of not following due process in the sack bid. However, in a show of strength by both factions, the Nwoagwugwu camp and Nwamara camp scheduled their inauguration and office opening the same day as both camps prepared for a war of supremacy during the opening ceremony.

Companies Linked with Patience Jonathan Appeal against Conviction The four companies which were convicted for laundering $15.591million allegedly belonging to former First Lady, Mrs. Patience Jonathan, have urged the Court of Appeal in Lagos to overturn the verdict. Four men who represented the companies, namely Friday Davis, Agbor Baro, Dioghowori Frederick and Taiwo Ebenezer, pleaded guilty to laundering the money when they were arraigned before Justice Babs Kuewumi of the Federal High Court in Lagos. But, the companies, through their lawyer, Chief Mike Ozekhome (SAN), said the identities of those who “purportedly” pleaded guilty on their behalf were “unverified.” According to the firms, the representatives did not present any evidence that they were duly appointed. The companies are Pluto Property and Investment Company Ltd, Seagate Property Development And Investment Co. Ltd, Trans Ocean Property and Investment Co. Ltd and Avalon Global Property Development Ltd. They were arraigned along with a former Special Adviser on Domestic Affairs to President Jonathan, Waripamo Dudafa, a lawyer Amajuoyi Briggs and a banker, Adedamola Bolodeoku, who all pleaded not guilty. In the proposed eightground notice of cross-appeal, Ozekhome said Section 477 of the Administration of Criminal Justice Act (ACJA) 2015 requires persons seeking to represent corporate entities to have a statement of their appointment as the reongnised representatives.

“The persons purporting to be representing of the cross-appellants failed to produce such statement of appointment which needed not to be under seal. “By virtue of Section 478 of the ACJA 2015, the court ought to have entered a plea of ‘not guilty’ for the cross-appellants, rather than allow the unverified plea of ‘guilty’ by persons purporting to be representing the cross appellants,” the firms said. Ozekhome recalled that Briggs had vehemently opposed the guilty plea and urged Justice Kuewumi to change it to “not guilty” because of the joint charge and the doubt about the representatives’ authenticity. Among the grounds of appeal is that the learned trial judge erred in law when he failed to grant Briggs’ application seeking to set aside the plea of “guilty” by the representatives. Ozekhome said: “The proof of evidence as borne out by court’s records shows that the purported representatives had denied ever having anything to do with the cross-appellants (companies), who are corporate entities, in their extra judicial statements which were presented before court by the complainant. “The purported representatives of the cross appellant had also alleged that their signatures on the forms CAC 02 and Bank Mandate forms were forged. “The purported representatives of the cross-appellants, could not, on the face of incontrovertible facts, including their own extra judicial statements, be taken as the authentic representatives of the cross-appellants to the extent of even pleading ‘guilty’ to a charge against the cross-appellants.”

the operatives in a gun duel before he was overpowered, but later died of gunshot wounds in the hospital. The native of Arogbo in Ondo State was said to have been trailed after he came out from the his hideout in the creeks to pay a visit to his girlfriend. Unknown to him, he was already on the radar of the IRT operatives led by ACP Abba Kyari and they trailed him to the apartment he rented for his

girlfriend at No. 20 Joel Adebolu Street, Ibeshe area of Ikorodu. To prevent his escape, the IRT teams were said to have surrounded the house but he somehow got wind of their presence and escaped to the roof of the building. From his hideout on the roof, he fired several shots with his pistol at the IRT team, who swiftly returned fire from all angles and he was overpowered.

Accepting defeat, the fatally injured kidnapper was then brought down from the roof of the house and rushed to General Hospital Ikorodu where he later died. However, before he died, he gave the pseudo names of his gang members as ‘One America’, ‘Stone’ and ‘Vika’. He further confessed that his gang were responsible for the death of the policemen and soldiers, as well as the kidnapping

of the Oniba of Iba, the Turkish School girls and many other high profile kidnapping in Lagos and Ogun States. Recovered from him was one Turkish Fatih, one pistol with serial number 12TF00126 with four expended and five live ammunition. The police said with the information he made available before his death, efforts are ongoing to arrest the remaining gang members.

COMMUNITY DEVELOPMENT

Worldwide President General, Awomamma Development Forum (ADF), Mr. Toni Akuneme (right), handing over the survey plan and letter of 15 plots of land donated by the community to Senator Hope Uzodimma, for the proposed Hope Uzodimma Event Centre and library, for the benefit of the community in Imo State....yesterday

Dollar Theft Lands Prophet,Two Others in Police Custody Chiemelie Ezeobi For defrauding a youth corps member of $500, a bureau de change operator, Moses Edwin, who also doubles as a prophet, was yesterday arrested by the police alongside his accomplices. They were picked up by the Rapid Response Squad (RRS) of the Lagos State Police Command for stealing 500 dollars out of the $5,000 given to them to convert to naira. The victim, one Adebayo Lukman had reported the incident to the to the police and they were

picked up beside Airport Hotel, Ikeja. Lukman, a member the National Youth Service Corps serving in Lagos, had collected the $5,000 from his mother with a promise to convert it to naira. On meeting Edwin, they had agreed on converting the dollar notes at an exchange rate of N387 to a dollar. Edwin, was said to have thereafter invited another member of his gang, Daniel Ebhohimen who together while confirming the dollars removed $500 before handing over $4,500 back to

unsuspecting Lukman. In hi statement Lukman said: “I was trying to help my mother change the $5,000. I got to Airport Hotel and I met these men. After negotiating back and forth, they offered me N387 to a dollar. “They took my details on the grounds that the transaction was going to be online. Edwin requested that I surrender the dollars 5,000 bills for them to confirm. “Reluctantly, I gave them but I was monitoring them and I was counting along with them in my car. They were midway into the counting when another member

of the gang distracted me from the driver’s side of my car. “Thereafter, they handed back the money to me that it was complete and we headed to one of the banks in Opebi. “At the bank, they told me the rate they gave me was no longer possible and that they were backing out but I offered for a renegotiation, which they refused. “I then went into the gents to confirm the money and found out $500 was missing. Before I could come out they had ran away. The door attendants told me he saw them rushing out of the bank.

Stop Using Cooperative Societies to Defraud Members, Niger Govt Warns Laleye Dipo in Minna The Niger State Government has said it discovered that some managers of cooperative societies are using the organisations to defraud innocent members. It therefore warned that a stop should be put to the ‘illegal’ activities, saying machineries have been put in place to arrest and prosecute culprits. The state Head of Service, Alhaji Yabagi Sule, made this known in Minna on Monday while addressing the opening of the

Strategic Planning for stakeholders’ meeting of the Nigeria Union of Teachers (NUT) social security scheme called ENDWELL. “The state government has vowed that it would deal with organisations and cooperative societies that are siphoning the people’s money” The HoS who lamented that a lot of people in the state had lost their money through fraudulent organisations and cooperative societies stated that the state government would no longer “condone a situation where these

schemes are formed and used as conduit pipes to siphon people’s money.” He charged cooperative societies to implement strategic plans in order to conduct an assessment to analyse social issues and seek stakeholders view on salient issues. Sule also appealed to the societies to come up with new ideas that would promote the welfare of their members and promote government effort. The HoS commended the NUT ENDWELL Scheme for “seeking deliberate shift from the social

welfare thinking to coordinated actions designed to protect the contributors from economic and social deprivation arising from retirement from formal jobs and sudden health challenges.” The state Chairman of the NUT, Alhaji Ibrahim Umar, said the strategic plan workshop was meant to chart a new path for the organisation and transform the NUT ENDWELL scheme towards securing the social economic well-being of its members before and after retirement.

T H I S D AY • WEDNESDAY APRIL 19, 2017

WEDNESDAYSPORTS

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

UCL: Ronaldo Hits Century Goal Mark as Atletico Ends Leicester Fairytale

Christian Ronaldo was the hero of the night with a hat trick as he led Real Madrid to subdue 10-man Bayern Munich in a 4-2 score line at the Santiago Bernabue. The current World footballer of the year thus became the first player to reach 100 Champions League goals to give the Spanish side seventh consecutive semi final berth of the club competition since 2010/11 season. He racked up a century of goals in Europe in the first leg, headed in his first of the game on 76 minutes before firing Real back ahead in the tie on 105 minutes. The Portugal star cancelled out Robert Lewandowski’s 53rd-minute penalty, but an own goal from Real captain Sergio Ramos with 12 minutes remaining sent the encounter into extra time. Ronaldo restored Real’s lead on 105 minutes as he brought up a century of goals in Europe’s top club competition. He then completed his treble before Marco Asensio added a fourth. In the other match, Jamie Vardy scored in vain as Leicester City’s Champions League fairytale came to a valiant end following a 1-1

quarterfinal draw at home to Atletico Madrid yesterday. Seeking to overturn a 1-0 first-leg deficit, Leicester fell further behind to Saul Niguez’s first-half header, before Vardy’s 61st-minute strike gave them hope. But despite heavy Leicester pressure and furious noise inside the King Power Stadium, Atletico completed a 2-1 aggregate win to reach the semifinals for the third time in four seasons. Leicester had hoped to become the competition’s first debutant semifinalists since Villarreal in 2006, but they were unable to engineer a repeat of their last-16 triumph against Sevilla. Their exit brings to an end a golden adventure sparked by last season’s stunning Premier League title win. Having successfully staved off the threat of relegation under new manager Craig Shakespeare, the rest of their season now holds nothing more than a return to pre-title normality. It is the third time Atletico have eliminated Leicester from continental competition, after previous triumphs in the 1961/62 European Cup Winners’ Cup and the 1997 /98 UEFA Cup.

L-R: Co-founder, Gidi Festival (GidiFest), Tomini Banigo, Captain of the RaveTV beach soccer team, Seun and Senior Brand Manager, Seven-Up Bottling Company Plc, Mr. Segun Ogunleye at the presentation of best team award donated by Pepsi during the Gidifest 2017 in Lagos,weekend.

Pros, Internationals Jostle for INEC CommissionerTakesViolence-free Election Campaign to Okpekpe Race National raise awareness about the Besty Obaseki and Labour East Local Government Area 2017 IBB Captain Cup Honours Independent Electoral Commission (INEC) benefits of having a violence- leader Comrade Isa Aremu of Edo State, Nigeria. It is The 2017 edition of IBB Captain Cup tournament will tee off today in Abuja to commemorate a festive week in honour of outgoing captain, Okey Igweh. Professional players and club caddies will set the drum rolling tomorrow while an international dimension will be given the program when players from Rest of World compete against Nigeria on Friday. The Captain’s Cup tournament will hold on Saturday with a maximum field of 350 amateur players.They will play either the shotgun format or with group of players teeing off on both nines. The tournament will end with an award night

to be graced by eminent personalities, including the Vice President Yemi Osinbajo and FCT Minister Mohammed Musa Bello. At a media briefing yesterday, Igweh said invitations had been extended to most of the captains from other in Nigeria, while guests are expected from Ghana, South Africa, Spain, France and the USA. He offered gratitude to the club members for the support, saying he left the club in a better position than it was when he met it. “Every good things must come to an end someday. We have been able to do a lot of things during my tenure,” Igweh said.

Commissioner for Information Technology representing the South-South region of Nigeria Dr Mustafa Lecky has joined the cast of celebrity runners that have registered for the fifth Okpekpe international 10km road race which holds next month in Okpekpe near Auchi in Edo state of Nigeria. Unlike other celebrity runners who have elected to run for either cancer or the orphanages, Dr Lecky wants to raise awareness about the benefits of a violence-free elections in the South-South region in particular and Nigeria in general especially with the 2019 general elections some two years away. “We are delighted that a credible institution like the INEC has chosen the Okpekpe race as the best platform to

free elections in Nigeria,” said Dare Esan,spokesman for the race. “This is an endorsement of the race as the only credible platform as far as sports is concerned for credible institutions in Nigeria to use to propagate whatever cause they want Nigerians to key into. Remember His Excellency the executive governor of Edo state, Godwin Obaseki signed on as the first celebrity runner at the race and he openly said he would run to raise awareness and funds for children abandoned in the orphanages under the ‘We Care Trust,’ a non-governmental organisation founded by the former First Lady of the state, Mrs Iara Oshiomhole.’ “The deputy governor,Philip Shaibu, the First Lady Mrs

have also signed on to run for cancer. This is big for the image of the race and it proved it is not just about the actual race on the tarred road of Okpekpe but also an avenue to let people know about some diseases,the causes and possible solutions were it exists,” said Esan. “Last year at the fourth edition of the race we had another big institution, the Federal Road Safety Corps who used our platform to campaign for safer roads just as we also had a non-governmental organisation,Sebeccly Cancer Care who,led by the then Miss Nigeria, Pamela Peter-Vigboro Leesi raised awareness about breast cancer,” he explained. This year’s race will hold on Saturday May 13,2017 in Okpekpe,a town in Etsako

located about 25 kilometres northeast of Auchi. It is the only road race in Nigeria that is recognised by both the IAAF and Association of International Marathons and Distance Races (AIMS) because its race course has been measured by an accredited measurer using the approved calibrated method. The race is organised by Pamodzi Sports Marketing,leaders in sports marketing and hospitality business in Nigeria. Last year Kenyan duo of Simon Cheprot and Polline Wanjiku Njeru came first in the male and female categories respectively. They went home with $15,000 prize money each after finishing in a record time of 29min: 48sec and 33min: 53sec respectively.

year’s Zenith Bank Women’s Basketball League, First Bank, Dolphins and Nigeria Customs finished top of the table as the championship goes into a two week recess. The teams will converge for the second phase fixed for May 1st to 8th at the Sports Hall, Ramat Square, Kaduna. According to a statement from the NBBF, signed by its Secretary General, Balewa Austin, and made available to our correspondent, all the 18

league have been directed to arrive in Kaduna on April 29, while the technical meeting is scheduled for the following day. The Kaduna phase of the league is expected to be more explosive, when the top clubs play each other. In the first phase, defending champions, First Bank, who are seeded top of Group A which also comprises Taraba Hurricanes, Plateau Rocks, Nasarawa Amazons, AHIP

remain unbeaten in all the five matches played. They defeated Nasarawa Amazons 89-22, Taraba Hurricanes 60-15, AHIP Queens 91-39 1st Deep Water 71-38, Plateau Rocks 73-33 and Taraba Hurricanes 60-15. Another Lagos side Dolphins sit comfortably atop Group B – which includes FCT Angels, Zamfara Babes, Delta Force, Coal City Queens and Sunshine Angels winning all their games. The Lagos-based club

in their opening game of the season, before further victories over Delta Force (66-65), Sunshine Angels (63-46) and Coal City Babes (50-18). They then walloped Zamfara Babes 71-27 in their final game on Monday to end the first phase with a 100 per cent record. Group C had Nigeria Customs, Gt 2000, Oluyole Babes, Ekiti Angels, Benue Princess and IGP Queens with Customs also winning all.

Nigerian Tennis Players Warm Zenith Bank B’ball Train Moves to Kaduna May 1st up with Ademiluyi Tourney All seeded teams in this clubs in the women’s topflight Queens and 1st Deepwater defeated FCT Angels 97 – 60 With less than a week to the commencement of the ITF/ CAT 12&Under West and Central African Championship in Lagos, some Nigerian players are putting finishing touches to their preparation for the event which will feature about 12 countries. The Ademiluyi Junior Tennis Tournament, one of the programmes designed to aid in the build up for the host nation, served off Monday at the Lagos Country Club

with attention on the duo of Serena Teluwo and Reya Holmes. Both players will be representing Nigeria for the first time and will be under the spotlight at the tournament which is expected to feature over fifty players. The Ademiluyi tournament has helped in identifying star prospects in recent years but Teluwo and Holmes will be facing stern tests when they confront other nationalities.

Wednesday April 19, 2017

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Fayose to FG ”The narrative they push daily is that only those in their government are saints while other Nigerians, including those in the National Assembly, judiciary, opposition politicians and the civil servants are rogues while only Buhari’s appointees are saints” – Ekiti State governor, Ayo Fayose criticizing the federal government’s anti corruption initiatives describing the government’s actions so far as subjective, biased and targeting opposition elements while shielding its own corrupt appointees.

CHIDIAMUTA GUEST COLUMNIST

Yemi Ogunbiyi: Mr. Activity at 70

ele Giwa and the Lagos media crowd made a rowdy and disruptive late entrance. It was a dinner party at Yemi Ogunbiyi’s staff quarters home at Ife. Stanley Macebuh had arrived earlier and kept us busy with his usual incisive cerebral excursions into the philosophy of nearly everything current. Nothing thrilled him more than moments like this, when he would commune with like minds on nearly every subject. For those of us still engaged on campus, an opportunity to meet and mix with the intellectual core of the new Lagos media elite was welcome ventilation. It provided that rare opportunity to test our bookish assumptions against more current insights on contemporary issues wizened by close proximity with men of power. Once the rest of the Lagos media train arrived, philosophy took a back seat and bacchanal cacophony seized the air. In air suffused with loud calypso music and the unmistakable aroma of good food and fine liquor, the serenity of the otherwise sleepy staff quarters was temporarily supplanted by the noise of enlightened rascality and increased vehicular traffic. All roads led to Yemi’s home where he and Sade were hosting a reception for Yemi Adefulu, a friend, who had just been appointed a commissioner in Ogun State. Yemi Ogunbiyi had this rare gift of occasionally bringing city to campus with smooth ease and effortless savvy. You did not need to look too far to see that his expansive social canvass and humanistic activism would soon burst the constrictions of a staid and humdrum academic career. This restlessness was first manifest in the way he approached his primary academic career. With a solid elite educational background that spans Kings College, Lagos, the University of Ibadan and New York University, Yemi comes eminently prepared for the academic career into which we all settled initially. Soon after returning to Nigeria, Yemi became part of the intellectual insurgency that berthed at the University of Ife (now Obafemi Awolowo University). In the humanities at least, there was an unstated revolt against the colonial heritage of the University of Ibadan tradition. Against the classical orthodoxy that produced most of Nigeria’s first generation of writers and literary critics, something new was sprouting at Ife. Its essentially radical DNA materialized with the return of Wole Soyinka from exile and his own relocation to Ife. A new tribe of literary scholars gathered at Ife that included Wole Soyinka, Biodun Jeyifo, Kole Omotoso, Yemi Ogunbiyi, G.G Darah and later a host of remarkable foreign writers and scholars like the late Ugandan poet Okot p’Bitek and David Rubadiri. Within Ife’s new essentially radical slant in the humanities, there was a decidedly left wing ideological bias. What is safest is to define the intellectual insurgency

Ogunbiyi

that took place at Ife in the 1970s and early 1980s as a radical revolt against orthodoxy in the humanities. This was coupled with a liberal reform in the university administration led by Prof. Ojetunji Aboyade, a workaholic liberal scholar as Vice Chancellor. At the heart of the series of reforms at Ife then was a radical commitment to academic excellence rooted in rigorous research, a more student-centered teaching and above all increased direct social relevance of the university curriculum. At Ife under Aboyade, then, there was a decisive rejection of the concept of the university as an aloof ivory tower. Yemi’s restless and endlessly innovative spirit fitted nicely into this new atmosphere where he distinguished himself as an outstanding teacher, scholar and researcher. While this leg of his career lasted, his students remember him as an outstanding teacher and restless searcher for new knowledge in his chosen field of theatre and drama. He constantly sought to find common grounds and historical links between African American, Caribbean and African traditions in drama and theatre. More importantly, he strove for a contemporary relevance for his discipline as evidenced by the introduction of a course on ‘Drama and Television’ during his tenure as head of the new drama department. His seminal collection of essays Drama and Theatre in Nigeria: A Critical Source Book remains required reading in many drama departments in Nigerian universities. When Stanley Macebuh convinced him (as he subsequently did a number of us) to spend his sabbatical year at the newly established The Guardian, I had no illusion that he would not return to the classroom in any hurry. The reason is simple. The fresh challenges offered by the media world and the implicit opportunity to make a

visible contribution in the way our society is run fitted into Yemi’s natural tendency to be where it is happening. As a great organizer, he brought his great energy and creativity to bear on his contributions to the running of The Guardian. In fairness to the businessman in Alex Ibru, he saw Yemi’s strengths and sought to use them to maximum advantage. His roles first as a member of the Editorial Board and subsequently Executive Director in charge of advertising and corporate affairs fitted well into his natural mould. Even then, Yemi sought constantly to put an intellectual stamp on his numerous roles at The Guardian while seeking to enhance the newspaper’s profitability. He facilitated the Guardian Literary Series and also initiated a series of interviews with world leaders ranging from Muammar Gadhafi to Rajiv Gandhi and a host of African despots. Perhaps the most lasting takeaway of The Guardian experience for Yemi was the opportunity it gave him to understand the difference between the classroom and the boardroom. The crude initiation rite in this regard was perhaps the dramatic manner in which he and Stanley Macebuh lost their jobs at the helm of The Guardian. His role as Managing Director of Daily Times was a different learning chapter. He now had to navigate the treacherous terrain between fidelity to the ‘truth’ as the object of great journalism and understanding the truth as it is conceived by those who hold and wield power. To Yemi’s eternal credit, he was able to navigate this precipice and still return the Daily Times to some profitability in record time. Most importantly, he began a revolution in the mode of production of newspapers in Nigeria. In one fell swoop, he eliminated the typing pool, the compugraphy, manual page planning and photo -lithography or the ‘dark room’. These he achieved by introducing an Apple based desktop solution to all pre-press processes. This was clearly a revolution at the time because the staff and other media owners thought it was impossible. Yemi embraced the new technologies and battled the unions and other vested interests with commendable results. Fondly called “Mr. Activity’’ by Professor Wole Soyinka and a few other close friends and associates, Yemi bears a trade mark restlessness that defies a life of stasis. Constantly on the move, the man is something of a mobile laboratory of new ideas and initiatives. To encounter Yemi at work or at play is to come face to face with a man with an endlessly fertile mind and vivacious energy that defies containment. He is constantly dreaming up projects, quickly embarking on them, literally conscripting others to align with his vision and finding allies to realize his dreams. For this man, no road closes. Every brick wall contains a gateway for those who

insist. A few days after he was relieved of his job as Managing Director of Daily Times and I quit mine as Chairman of the Editorial Board in protest, we hit the street in search of livelihood. We had a new company with him as Chairman/MD and I as Executive Director. But we had no office, no staff, only a fluid address. But in no time, Yemi’s energy had given us an office and the necessary corporate identity. We went to report ourselves to a former head of state friend to the effect that we were now jobless! The man took a look at us and broke into a long laugh. “You guys don’t look exactly good as applicants!’’ We took it as a cruel joke. But we were broke. We needed livelihood, not compliments or flattery. I believe that Yemi’s subsequent success as a businessman owes largely to the resilient spirit with which he accepted the loss of the two appointments that showed him the road to success. His friendship is spontaneous and effortless having built and sustained relationships across all known divides in our country and beyond. Facilitated by a parentage that makes him a true Nigerian- a Yoruba father who lived and raised his children in Kano and an Igbo mother with a cosmopolitan outlook, Yemi is flawlessly fluent in Igbo, Hausa and of course Yoruba. And yet, he presents with a certain robustness of spirit and refined urbaneness that bursts all the silly primordial compartments that hold most Nigerians hostage. One attribute of Yemi that has not been so commonly acknowledged is his spontaneous humanism, his compulsive and abiding fellowship with friends and associates in trying moments. I have seen this repeatedly on display when a friend is in distress; is bereaved or experiences a misfortune. Press rewind. We had gathered for an impressive wedding reception. The guests were from all parts of the country. The groom was a young assistant lecturer of Igbo extraction while the bride was a Yoruba undergraduate. The chairman of the occasion was a prominent bank chief executive from the northern parts. So it was a national gathering of persons of all classes. The Master of Ceremony had his job well defined. He had to communicate the proceedings in the flawless English of the university community while carrying along guests from the three major language blocs in a ceremony of happy beginnings. He stepped forward and gave a short welcome greeting in flawless Igbo. Then Hausa. And of course Yoruba followed naturally. Then he homed in on English. The crowd was ecstatic. The reception became a national carnival. The walls literally came down. It was my wedding. Yemi was that Master of Ceremony. It was 37 years ago. And today, I am glad that I can still felicitate with Yemi as my friend on his new beginning at the 70th parallel.

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