Wednesday 26th April 2017 by THISDAY Newspapers Ltd

Emefiele Pledges to Sustain FX Interventions as Reserves Hit $31bn Says recession will be over this year Damilola Oyedele in Abuja and Obinna Chima in Lagos Central Bank of Nigeria (CBN) governor, Mr. Godwin Emefiele, has revealed that the country’s foreign reserves have exceeded $31 billion, a development which he said

gives the central bank the firepower to sustain its forays in the foreign exchange market. He also expressed optimism that Nigeria would exit the recession by the end of the

CBN sells $25m through new FX window for investors, exporters

second quarter of 2017, or latest by the third quarter of the year. Emefiele made the remarks yesterday when he briefed newsmen after a closed-door

meeting with the President of the Senate, Dr. Bukola Saraki, and some senators to brief the Senate on its FX policies and interventions in the market. He added that the

interventions of the central bank in the FX market resulted in the appreciation of the naira in the parallel market from N525 to N370 to the dollar, with the rate currently hovering

Court Grants Nnamdi Kanu Bail… P a g e 8

at between N370 to N380. Emefiele said the gains made by the local currency and corresponding drop in inflation, were indications that the country was on its way out of the recession. Continued on page 8

Wednesday 26 April, 2017 Vol 22. No 8043. Price: N250

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Shell Reopens 225,000bpd Bonga Field After Maintenance…

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Jonathan: Obama Made It Clear He Wanted Change of Govt in Nigeria Says U.S. naval ships sailed to Gulf of Guinea days before 2015 elections Accuses ex-PDP chairman, other allies of betrayal, Mu’azu denies allegation Tobi Soniyi Former President Goodluck Jonathan has finally admitted that his electoral defeat in the 2015 elections was partly caused by former U.S. President Barack Obama and his officials who made it abundantly clear to him by their actions that they wanted a change of

government in Nigeria and were ready to do anything to achieve that purpose. In an advanced copy of the book, ‘Against the Run of Play - How an incumbent president was defeated in Nigeria,’ written by the Chairman of the THISDAY Continued on page 9

Osinbajo Panel Interrogates Suspended SGF, Lawal

Omololu Ogunmade in Abuja

Yesterday, it was the turn of the suspended Secretary to the Government of the Federation (SGF), Babachir David Lawal, to appear before the Vice-President Yemi Osinbajo-led committee probing allegations of financial impropriety against him on the management of

the humanitarian crisis in North-east. The committee is also investigating the discovery of N13.3 billion in an apartment in Ikoyi by the Economic and Financial Crimes Commission (EFCC). The National Intelligence Agency (NIA) has laid claim to the money.

Continued on page 8

100 YEARS OF SOAS, UNIVERSITY OF LONDON… Babangida Aliyu, Nasko CELEBRATING L-R: Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar N. Onyema; Director, The School of Oriental and African (SOAS), University of London, Baroness Valerie Amos; and wife of the Senate President, Mrs. Toyin Saraki, when Baroness Remanded in Prison… Page 12 Studies Amos led a delegation to the NSE for the closing gong ceremony yesterday to commemorate the 100th anniversary of SOAS

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Court Grants Nnamdi Kanu Bail Bars him from granting interviews, attending rallies

Alex Enumah in Abuja, Emmanuel Ugwu in Umuahia and David-Chyddy Eleke in Awka After spending almost two years in detention, respite finally came the way of the leader of the Indigenous People of Biafra (IPOB) Mr. Nnamdi Kanu, when the Abuja division of the Federal High Court yesterday granted him bail in the sum of N100 million. Trial judge, Justice Binta Nyako granted bail to the defendant to enable him attend to his ailing health. The judge in addition ordered that the defendant produces three sureties with N100 million each. Kanu, Onwudiwe Chidiebere, Banjamin Madubugwu and David Nwawuisi were arraigned by the federal government last year on an 11-count charge bordering on terrorism, treasonable felony and illegal possession of firearms, among others. But Justice Nyako had struck out six out of the 11 amended charges filed against the defendants on grounds that they lacked competence. Ruling on the bail application of the defendants, the judge said she was convinced that Kanu’s ailment was one that needed serious medical attention than the current medical facilities provided by the prison authorities. “The first defendant, Nnamdi Kanu, has appealed to the court for bail based on health grounds

and it is only the living that can stand trial. “So I am minded to grant him bail so that he can attend to his health and face his trial alive,” she said. The court however said that the sureties to be provided by Kanu should include a highly respected Jewish leader, since according to her, the defendant claimed Judaism as his religion. Another of the sureties, according to the judge, should be a senior and highly placed individual of Igbo extraction and in the ranking of a senator, while the last is expected to be a respected individual resident in Abuja with proof of ownership of landed property. In addition, Justice Nyako said Kanu must never be seen in a crowd of more than 10 persons, adding: “No interviews and no rallies.” Also, the judge ordered Kanu to deposit his international passport including his British passport with the court, adding that the court should on a monthly basis be furnished with a progress report on his health. Kanu’s co-accused were however unfortunate, as the court denied them bail on grounds that the charges against them were grievous. The judge also refused to grant their second motion which prayed the court to review its earlier ruling on the protection

of witnesses. She adjourned till July 11 and 12 for continuation of trial. During the trial yesterday, Ekiti State governor, Ayodele Fayose, and a former Minister of Aviation, Femi Fani-Kayode, were present at the court during proceedings. Fayose, who was allowed into the courtroom, said he came to show solidarity with the defendants in the face of intimidation in the country, which he said belongs to all Nigerians. He added that he needed not be an Igbo man before identifying with the Biafra cause. He saluted Kanu and expressed hope that the defendant would someday be set free. Fani-Kayode, on the other hand, was barred by operatives of the Department of State Services (DSS) from entering the courtroom to witness Kanu’s trial. Also, reacting to the bail terms granted Kanu, IPOB described the bail conditions as “childish, political and funny”. The group said the bail conditions were most probably designed by politicians, because everything about them were political, adding that those who drafted them were afraid of the rising popularity of its leader. In a statement yesterday, the media and publicity secretary of the group, Mr. Emma Powerful said: “The oppressors are afraid of our leader’s popularity and

IPOB, parents unimpressed, condemn bail terms

they hope to cage him through this funny bail condition. “We are not excited about our leader’s release, we demand the release of our members detained alongside him. It is unacceptable to the entire members of IPOB worldwide that the presiding judge, Hon. Justice Binta Nyako attached conditions towards the release of our leader, Mazi Nnamdi Kanu.” IPOB held the view that bail terms were unacceptable to it, stressing that Kanu committed no crime against humanity or the Nigerian state. “We wonder why Justice Binta Nyako would prefer to attach conditions to his release. “Again, Justice Binta Nyako refused to grant bail to Mazi Chidiebere Onwudiwe, Mazi Benjamin Madubugwu and David Nwawuisi, who have been detained with our leader for almost two years,” it said. The group thanked the United Nations, Amnesty International, Human Rights Watch, the United States government, Israeli government, Russian government, European Union and others that they said had prevailed upon the Nigerian government and the judiciary for Kanu's release, while also calling on them to continue to mount pressure for the release of the other three detainees. Towing the same path as IPOB, Kanu’s parents also expressed

reservations over the bail conditions given to their son. Speaking yesterday, Kanu’s father, Eze Israel Kanu, who is also the traditional ruler of Isiama Afaraukwu Umuahia, in Abia State, rejected the bail conditions, saying that while the Kanu family was happy that their son had been granted bail, the conditions attached to it were not necessary. He told journalists at his palace in Isiama Afaraukwu that the bail terms were akin to giving something with one hand and taking it with the other hand, insisting that the IPOB leader must be set free without any conditions attached. “The federal government should release my son unconditionally,” he said and called on the world to determine if the bail “conditions are proper”. The traditional ruler said that he was happy when he received the news that his son had been granted bail by the court against all expectations, as quite a lot of people did not believe that the IPOB leader would be granted bail. He, however, faulted Justice Nyako for asking the IPOB leader to produce a Jewish leader as surety, wondering why a court of competent jurisdiction would demand that a citizen of another country should come and stand as surety in Nigeria. Eze Kanu, who was flanked

by his wife, Ugoeze Sally, and daughter, Chinwe, equally stated that the court got it wrong by asking that a senator from the South-east should post a N100 million bail bond. Agreeing with her husband, Mrs. Kanu said that if her son eventually returns home, she would advise him not to abandon the agitation for the restoration of Biafra, noting that without his activities the world would not have known about the problems of Biafrans in Nigeria. “No retreat, no surrender,” she declared, adding that her son was raised by God to lead the campaign for the liberation of Biafra and “God will deliver Biafra as He delivered Israel”. A rights activist, who came to the palace in solidarity with the Kanu family, Paul Njoku, also condemned the bail conditions, describing them as “superfluous and a miscarriage of justice”. “You cannot go to Israel and ask for surety when the court has no jurisdiction outside Nigeria,” he said in reference to the requirement for a Jewish leader to stand as surety for Kanu. He also said that the bail conditions infringed on the fundamental human rights of the IPOB leader, explaining that stopping him from talking to the press and holding meetings contravenes Kanu’s right to freedom of association and speech.

and allow the market to determine the rate within the new window, according to a person who attended the meetings, reported Bloomberg. While the initial market reaction showed that investors were optimistic that the platform will be successful in bringing hard currency into Nigeria, analysts said policy makers would still have to demonstrate that the CBN will allow free trading, as investors have been disappointed in the past. Last June, the central bank ended a 16-month currency-peg and promised to float the naira, but it has traded near 315 per dollar since August. That’s about 27 per cent stronger than its black-market price of 380. “If this is going to be marketdetermined, that would be a great positive,” said Razia Khan, the chief Africa economist at Standard Chartered in London. “Given the false start we had in June last year, there’ll be a certain amount of caution initially.” Standard Bank Group analysts expect an initial “sharp but unsustainable” decline in the naira as investors and companies try to clear their unmet demand for dollars of about $4 billion. If that happens, the central bank may start manipulating the rate again, which would discourage inflows. “What is on paper may not actually be what is practiced,” Standard Bank’s Lagos-based Ayomide Mejabi and Phumelele Mbiyo in Johannesburg said in a note on Monday

through authorised dealers. Making this known, CBN spokesman, Isaac Okorafor reiterated that the window was established to boost liquidity in the forex market and ensure timely execution and settlement for eligible transactions. According to him, transactions under the new window include invisible transactions such as loan repayments, loan interest payments, dividends/income remittances, capital repatriation, management service fees, consultancy fees, software subscription fees, technology transfer agreements, personal home remittances and any such other eligible transactions, including miscellaneous payments as detailed under Memorandum 15 of the CBN Foreign Exchange Manual. It however excludes international airlines ticket sales’ remittances. On the role of the central bank in the market, Okorafor said the CBN would be a market participant at the window to promote liquidity and professional market conduct. The CBN yesterday also announced that authorised FX dealers were unable to subscribe fully to the $150 million offered at the FX auction in the interbank wholesale window on Monday. According to Okorafor, authorised dealers were only able to subscribe to $96.37 million in the interbank market yesterday. Okorafor did not give a reason for the inability of dealers to fully subscribe to the CBN offer in the interbank market. However, industry sources said the under-subscription could have been caused by excess FX in the system. The naira closed at N388 to the dollar on the parallel market yesterday, stronger than N390 at the close of business Monday.

EMEFIELE PLEDGES TO SUSTAIN FX INTERVENTIONS AS RESERVES HIT $31BN “I think it’s an opportunity for me to say that we are going to continue this intervention because the reserves look very good. As I speak to you, our reserve stands at above $31 billion and that provides us enough firepower or ammunition to be able to defend the currency, and we will do so with all intensity to ensure that foreign exchange is procured by everybody. “Indeed, we have started to see a downward trend even in prices and you must have observed that inflation is also trending downwards. “We are very much optimistic that by the end of the second quarter, very latest third quarter, we should be out of the recession,” he said. Emefiele added that FX would be made available to importers of raw materials and equipment, small business owners, and for the payment of school fees and other

retail invisibles. He also spoke on the new special FX window for investors and exporters aimed at improving liquidity to the market, and where the rate for the greenback will be market determined. “I think what is important is that last week we brought out an announcement which is meant to encourage our foreign investor community to get involved in the foreign exchange market. “It is the market or window that is open for them to inflow their foreign exchange and come into the market on what we called a willing buyer, willing seller basis, in which case there will be no form of any price fixing by anybody including the central bank. “With the kind of firepower that we have, we are also going to play in that market to ensure that as prices

move based on the managed float regime that we run, we should be able to control the price based on willing buyer and willing seller basis,” Emefiele added. The Chairman of the Senate Committee, Banking, Insurance and Other Financial Institutions, Senator Rafiu Ibrahim (Kwara South) expressed satisfaction with the developments in the FX market. He said the Senate in its interaction with Emefiele proffered some solutions, which would result in a different policy direction due to the need to attract foreign investments into the country and ensure that the interventions are sustainable. “We have proffered more solutions and suggestions which will result in other policy directions very soon because it is imperative for us to attract foreign direct investments. So we are happy with what they

are doing,” he said, adding that the Senate hopes to maintain a good working relationship with the CBN in the interest of the economy and the country.

Investors Sceptical Despite Emefiele’s remarks on the new FX windows aimed at improving liquidity for investors and exporters, market participants have remained sceptical about the sincerity of the central bank to keep its word. The CBN announced that it was opening a FX window for investors and exporters on Monday, where the naira would trade between the interbank rate and the parallel market rate. In the weeks before the opening, Emefiele had told senior bankers that he would tolerate a weaker naira

OSINBAJO PANEL INTERROGATES SUSPENDED SGF, LAWAL Lawal was suspended on April 19 by President Muhammadu Buhari over the management of

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Presidential Initiative on Northeast (PINE) contract awards in his capacity as SGF. He was alleged to have awarded a N220 million treecutting contract to his company, Rholavision Engineering Limited, in contravention of public sector rules barring government officials from awarding contracts to companies in which they have an interest. He was also accused of awarding contracts to Josmo Technologies to the tune of N272 million. Josmo in turn was alleged to have paid the contract sum into Rholavision’s Ecobank account some days later. Following his suspension along with the Director-General of NIA, Mr. Ayo Oke, the president constituted a three-man committee headed by the vice-president to investigate allegations of violations of the law and due process against

Lawal in the award of the contracts. Other members of the committee are the Attorney-General and Minister of Justice, Mr. Abubakar Malami (SAN) and National Security Adviser, Major-General Babagana Monguno (rtd.). The committee was also mandated to investigate Oke on “how and by whose or which authority the funds were made available to NIA, and to establish whether or not there has been a breach of the law or security procedure in obtaining custody and use of the funds”. Against this backdrop, Oke was grilled by the committee for over 12 hours on Monday. He had reported to the committee at 10 a.m. but did not leave till after midnight. However, unlike Oke who was grilled by the committee for several hours, Lawal reported

to the committee at about 1 p.m. yesterday and left some minutes after 3 p.m. When Lawal came out of the meeting yesterday, accompanied by his security aides, he looked unruffled and relaxed. It was learnt that the issues involving Lawal were more straight forward to investigate than that of Oke which bordered on intelligence and espionage. Like, Monday, the Osinbajo committee continued to jealously guard its interactions with Oke and Lawal until the conclusion of its assignment. The panel, which has 14 days to conclude its assignment, is expected to turn in its report next Wednesday. Having met with the principal actors who are being probed, the committee is expected to begin to call in other witnesses from today to testify before the panel.

CBN Sells $25m But even as the market waited with bated breath for the CBN’s next move, it announced yesterday that it had started its interventions in the new FX window for investors and exporters with the sale of $25million

T H I S D AY WEDNESDAY APRIL 26, 2017

WEDNESDAY, april 26, 2017 • T H I S D AY

PAGE TEN

How British-Nigerian, Chi-chi Nwanoku Formed Her Own Orchestra For Chi-chi Nwanoku, coming up with the right name for her new minority orchestra was a stressful experience. Though Ms. Nwanoku had quickly formed a board of directors and had already selected most of her players — 62 musicians representing 31 different nationalities — she was constantly reminded that it would be hard to promote their first concert at the Queen Elizabeth Hall at the Southbank Center, London, in September 2015 or to even set up a website without a name. She knew she did not want it to be the Such-and-Such Philharmonic or the Something Symphony, and the recent trend for orchestras to take Latin or Greek names also did not inspire her. But the night before one of her board meetings, the name came to Ms. Nwanoku, a double bass player who grew up in Britain, where she was classically trained. “I literally sat bolt upright in my bed at 4 a.m. and I just shouted ‘Chineke!’” she said, referring to a word from the Nigerian Igbo tribe, which was her father’s clan. “In Chinua Achebe’s book ‘Things Fall Apart’, you see the word ‘Chineke’ every now and then, with people exclaiming it when something amazing happens. It means ‘wonderful’ or ‘wow’.” The next day, when the board members asked her the inevitable question about a name, Ms. Nwanoku told them and explained the meaning behind it. The board loved the idea. “My dad would be smiling

that this Igbo word is being said by everybody,” said Ms. Nwanoku, who has Irish ancestry on her maternal side. “And it means something so positive.” Since that first concert, the Chineke Foundation — which includes both Europe’s first professional orchestra made up entirely of minority musicians from across Britain and Europe, and also a junior orchestra — has had a strong impact not only on the musicians involved, but also on the audiences. The first concert in 2015 during the Africa Utopia festival sold out, and fans lined up outside the concert hall hoping to get in. The performance last year, held at the Southbank’s larger Royal Festival Hall, which seats over 2,000, was also hugely popular. This year the orchestra has a number of performances, including a concert this past Sunday, St. George’s Day, at St. George’s Bristol, a former church turned concert space. In May, some members who have performed with the Sphinx Organization, a nonprofit organisation based in Detroit that is dedicated to the development of black and Latino classical musicians, will appear in a musical showcase in the Netherlands. “Chi-chi is a force of nature, and what she has been able to do in a short period of time, it has been fantastic,” said Afa S. Dworkin, the president and artistic director of Sphinx. “The response has been undeniably positive throughout the musical community.” Ms. Nwanoku came up

runner until age 18, when she was injured. “We want to spread the word that classical music is for absolutely everybody,” Mr. Rattle said. “And of course, we need orchestras to slowly and surely start looking like the communities in which they play.” Five days before Chineke’s debut, the musicians practiced together for the first time, and though they were a bit unsteady at first, they quickly found their feet. “It was the first time that many of us felt that no one was the odd man out,” Ms. Nwanoku said. “At the end of the day, everyone was embracing.” Desmond Neysmith, a British cellist who is a Sphinx alumnus, said performing for the first time with Chineke was a highlight of his career. “I have done thousands of concerts, and very few stick

out and stay in one’s memory forever,” he said, “and that inaugural concert would be in that category, and it was one of those projects when you get paid at the end, you see it as an extra bonus.” While Mr. Neysmith and other orchestra members say it has been great to perform with one another, Chineke’s true purpose is to inspire young minorities to pick up instruments. “There is definitely a part of doing this for the younger generation,” said Lena Fankhauser, a Juilliard-trained violist based in Vienna. “For them to have somebody to look up to, that is one of the main motivations for all of us and why we do what we do.” Sheku Kanneh-Mason, an 18-year-old cellist who is a member of both of Chineke’s orchestras, comes from a family of classical musicians, including an older sister and brother who are both studying at London’s Royal Academy of Music. Mr. Kanneh-Mason, who last year was the first black person to win the BBC’s Young Musician of the Year award, said that when he attended concerts while he was growing up, there were very few black or minority musicians on stage. “It has been inspiring to see lots of other young musicians like me,” he said. “I plan to be involved in Chineke until Chineke becomes unnecessary because eventually the aim will be for diversity to be the norm in classical music.” • Culled from The New York Times

sad not for me as a person, but for our democracy,” he admitted. “Take for instance, the PDP National Chairman, Alhaji Adamu Mu’azu. I believe he joined in the conspiracy against me. For reasons best known to him, he helped to sabotage the election in favour of the opposition.” However, in the book, Mu’azu denied the allegation, saying he found it difficult to believe that the former president would level such an allegation against him. The former PDP chairman described any such suggestion as unkind and absolutely untrue, and vehemently denied claims of the conspiracy involving him in the election and its aftermath. “That President Jonathan would make the kind of imputation you ascribe to him is very unfortunate indeed,” Mu’azu said. He went on to add: “It pains me that anybody would want to pin a tag of ethnic or religious bigotry on me because that is what President Jonathan means by his accusation, even if he did not directly say it. I suppose my crime with him is that I am a Muslim and a northerner.” Hinting at his own side of the story, the former PDP chairman countered in the book that some people wanted him to be abusive to Buhari during the campaign as a show of loyalty to the PDP and its candidate “but I was not brought up to be abusing people, especially those with whom I have no personal problems”.

Recalling the state in which he met the PDP and the effort he said he put in to change the fortunes of the party, Mu’azu expressed confidence that the “majority of Nigerians will remember that I took over a party that was in shambles”. He added: “Very quickly, I injected a new lease of life into the PDP for which I was hailed as the ‘game changer’. It is convenient to forget all that now. “But in the build up to the election, some people decided to introduce religion and ethnicity into the campaign in such a manner that not only hurt the PDP in the north but was actually helping to mobilise our opponents against us.” Mu’azu called on Jonathan to look inwards in order to get at the root of his failure at the polls in 2015, and went further to allege that the presidential campaign was mismanaged by those who thought that stigmatising others would win votes for an incumbent. He vowed to tell his own story one day, but for now, the former PDP chairman was content to say: “After President Jonathan had accepted defeat, congratulated Buhari and the whole world was acclaiming him, some of our party leaders now wanted me to make a statement that would ridicule me before civilized people and cause serious problems for our country. “Of course, I refused to do any such thing. If that was the sabotage President Jonathan is referring to, I don’t think I should apologise for that,” he stated.

Wayne Marshall conducting the Chineke ensemble during its debut performance in London in September 2015 with the idea after attending a showcase of the Democratic Republic of Congo’s Kinshasa Symphony at Africa Utopia in 2014. It reminded her of a conversation she had had with Ed Vaizey, then Britain’s culture minister, who said that whenever he attended a symphony or ensemble where Ms. Nwanoku was performing, she often was the only member of a minority on stage. Ms. Nwanoku has played with some of Europe’s leading chamber orchestras and was a founding member of the Orchestra of the Age of Enlightenment in London. “All of the orchestras I have played in, I have always been the only person of color for 35 years,” she said, adding that many British orchestras go into minority and ethnic communities to perform

and educate on classical music. After the conversation with Mr. Vaizey, and noticing that the audience for the Kinshasa Symphony performance was almost entirely white, she decided to do something. She soon began recruiting professional musicians from across Britain and Europe, including those with Indian, Bangladeshi, Caribbean, African, Sri Lankan, Pakistani and Iranian backgrounds. Within months, Chineke’s professional orchestra was booked to perform at the Queen Elizabeth Hall. “Chi-chi managed to get things organized very fast, but you know she was a sprinter,” said Simon Rattle, the artistic director of the Berlin Philharmonic and a longtime friend, referring to the fact that Ms. Nwanoku was a competitive

JONATHAN: OBAMA MADE IT CLEAR HE WANTED CHANGE OF GOVT IN NIGERIA Editorial Board, Olusegun Adeniyi, and obtained by THISDAY yesterday, Jonathan also revealed to the author that the U.S. government “even brought some naval ships into the Gulf of Guinea in the days preceding the elections”. The book goes on to reveal how the immediate past U.S. administration undermined Jonathan’s government’s fight against Islamist insurgents in the North-east in order to weaken his government and make it unpopular. “Applying the law introduced by Senator Patrick Leahy in 1997 on the primacy of human rights record in military operations, the Obama administration blocked the sale of arms to Nigeria, not only from America but also their allies. “That, quite naturally, made the war against Boko Haram very difficult. Explaining the rationale for the decision, the then American ambassador to Nigeria, Mr. James Entwistle, said the human rights situation was key. “In November 2014, the Nigerian government halted a U.S training of its soldiers to fight Boko Haram. Two initial phases of training had already been completed between April and August of the year, which provided previously untrained civilian personnel with basic soldering skills, while a third session had been planned with the intent of developing the battalion into a unit with advanced infantry skills. “The decision, according to a top military officer, was taken because ‘it made no sense

for them to be training our officers and men, and refuse to sell us the necessary arms to fight. Were we expected to fight with our bare arms? I believe President Jonathan was correct in putting a halt to the hypocritical nonsense’,” Adeniyi wrote in his book. However, it was not only on the military front that the Obama administration was checkmating Jonathan, the book stated; it did so on the diplomatic front too. According to the former president, who related some of his observations to the author, “I got on very well with Prime Minister David Cameron but at some point, I noticed that the Americans were putting pressure on him and he had to join them against me. “But I didn’t know how far President Obama was prepared to go to remove me until France caved into the pressure from America.” The former president disclosed that he had such a good relationship with Mr. Francois Hollande that whenever there were difficulties with Cameroon over the Boko Haram issue, it was the French president he reached out to. “On one occasion, following an appeal by Jonathan, Hollande even organised a conference in Paris with all the French-speaking countries within the sub-region. “But weeks to the election, he had also joined the Americans in supporting the opposition against me,” Jonathan noted. Asked what the contention with the Americans was, Jonathan said the only issue

Obama administration officials kept harping upon was the allegation of corruption in his government. “There was this blanket accusation that my body language was supporting corruption, a line invented by the opposition but which the media and civil society bought into and helped to project to the world. “That was the same thing I kept hearing from the Americans without specific allegations,” he said. On the issue of corruption in his government, Jonathan said that when it comes to the issue of graft, majority of Nigerians, especially those with access to the media love hypocrisy, something he had vowed never to be part of. He would only say, “By virtue of being president of Nigeria, I have come to know so many things about so many people. Some of the most corrupt Nigerians are the ones who speak most loudly about corruption. “Once you have access to the media in Nigeria, you have the liberty to accuse others of corruption regardless of what you are doing.” Jonathan also opined that what those who romanticised the issue forget is that “when you destroy your country, you are also destroying yourself”. Jonathan believed the campaign against him on the issue of corruption was whipped up by some people in the media and civil society who just wanted drama. “I have been told that I should have made scapegoats

of officials so I would be seen to be fighting corruption but that for me is not right. When I get reports about corruption, I usually subject them to investigations,” he pointed out. Going back to his electoral defeat, Jonathan informed Adeniyi that he had seen enough to convince him that even if he had been declared winner, the bond of trust had been broken between him and several people within his government. “I felt really betrayed by the results coming from some northern states. Perhaps for ethnic purposes, even security agents colluded with the opposition to come up with spurious results against me. “You saw the way the Inspector General of Police, a man appointed by me, suddenly turned himself into the ADC to Buhari immediately after the election,” he said. The former president said he had projections before both the 2011 and 2015 presidential elections and he was sure of what would happen in each of the zones, yet could still not fathom what happened in some states in 2015. “How could we have lost Ondo, Benue and Plateau States if our people were committed to the cause? If you examine the results, you will see a pattern: in place where ordinarily we were strong, our supporters did not show enough commitment to mobilise the voters,” he revealed. Jonathan also expressed disappointment at some former allies, naming some names. “What happened was very

WEDNESDAY, APRIL 26, 2017• T H I S D AY

NEWS

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

Shell Reopens 225,000bpd Bonga Field After Maintenance

Ejiofor Alike with agency reports

Shell Nigeria Exploration and Production Company Limited (SNEPCo) has reopened

the 225,000 barrel-per-day capacity Bonga deepwater oilfield after a turnaround maintenance, which ensured that statutory activities that would ensure continuous

PDP Asks Presidency to Stop Hiding Buhari from Nigerians Describes expulsion of Punch reporter as oppressive Onyebuchi Ezigbo in Abuja The Senator Ahmed Makarfi-led National Caretaker Committee of the Peoples Democratic Party (PDP) has asked the presidency not to unnecessarily shield President Muhammadu Buhari from his country men on account of his poor health. The opposition party which felt irked by the last Monday’s expulsion of the Punch Newspaper reporter in the State House by the president’s Chief Security Officer (CSO), Abubakar Bashir, described such move as dictatorial. In a statement issued yesterday by the spokesman of the PDP caretaker committee, Dayo Adeyeye, the party said no one has the right to deny Nigerians access to President Buhari while dishing out orders on his behalf. “For the upteenth time, we want to re-iterate that Nigerians deserve to know the health condition of their president. No one has the right or power to hide the president behind the curtain while dishing out instructions to Nigerians in the name of the president,” the party said. However, the party said: “It

wishes the president a speedy recovery and pray that the Lord Almighty will grant all that is required for him to fulfill his responsibilities to our dear country.” On the expulsion of a journalist working with The Punch Newspaper, Lekan Adetayo, by Buhari’s CSO, the PDP said the action did not come to it as a surprise given that the nation is gradually tilting towards full blown dictatorship. It said the media as the fourth estate of the realm is an important pillar of any democracy, adding that any attempt to gag the press in whatever guise is an abridgment of the rights of the people and a direct assault on our hard earned democracy. ‘Yesterday, April 24, 2017, we received the news of the expulsion of Olalekan Adetayo, the Punch Newspaper reporter and Chairman of Press Corps at the Presidential Villa, by Bashir, the CSO to President Buhari ,but it did not come to us, as a surprise given that the Nation is gradually tilting towards full blown dictatorship. Adetayo’s offence we heard, was his report by the weekend titled: ‘Fresh anxiety at the Aso Rock Presidential Villa over Buhari’s health.’”

FG, States, LGs Share N467.807bn for March Ndubuisi Francis inAbuja

governments N96billion. The sum of N35.747 billion went to oil producing For the month of March, the states as 13 per cent derivation. Similarly, the cost of collection/ three tiers of government shared a total of N467.807 billion as the FIRS (Federal Inland Revenue Federation Account Allocation Service) refund was N18.824 billion. Idris explained that the gross Committee (FAAC) meeting ended yesterday in Abuja. statutory revenue of N331.583 The meeting was presided over billion received for the month by the Accountant General of the of March was higher than the Federation, Alhaji Ahmed Idris, N290.163 billion recorded in the previous month (February) by who briefed journalists. According to him, the N41.420 billion. “Despite the increase in the distributable statutory revenue for the month stood at N299.930 average unit price of crude oil per billion, adding that the sum of barrel from ,$44.74 to $52.86, the N6.330billion was refunded by revenue from Federation Export the Nigerian National Petroleum sales dropped by $6.4 million. This Corporation (NNPC) to the federal was due to the decrease in crude oil export volume government. “Production suffered during the A sum of N22.259 billion was also proposed for distribution from period due largely to leakages in the the Excess Petroleum Profit Tax (PPT) pipelines arising from sabotage, shut Account, just as an exchange gain down of terminals for turnaround of N66.967 billion was proposed for (TAM) and force majeure declared at Forcados and Brass Terminals distribution, he said. This, Idris noted, brought the total that were still in place. “There was, however a revenue distributable for March, including Value Added Tax (VAT) noteworthy increase in revenue from oil royalty. Also, significant to N467.807 billion. A breakdown the distributable increases were recorded in revenue amount shows that the federal from Companies Income Tax (CIT, government got N189.234 billion, import and excise duties and Value states N127 billion, and local Added Tax (VAT),” he said.

optimum operations at the field were executed. The field was shut down on March 4, 2017, for the maintenance, which involved inspections, recertification, testing and repair of equipment as well as engineering upgrades with Nigerian companies and subsea professional playing key roles. The exercise took off a significant chunk from Nigeria’s crude oil exports, as SNEPCo produces close to 200,000 barrels per day from the field, which it operates under Production Sharing Contract (PSC) for the Nigerian National Petroleum Corporation (NNPC).

Shell had said in a statement that the major focus of the maintenance was the Bonga Floating, Production, Storage and Offloading (FPSO) vessel, which is at the heart of Bonga operations. A Shell Nigeria spokesman could not respond when contacted repeatedly by THISDAY yesterday over the matter. But Reuters reported that Bonga oilfield had resumed production, but that traders were still waiting for loading programmes for June. Also, Erha and Yoyo loading programmes have not been released, the report quoted traders as saying.

Managing Director of SNEPCO, Mr. Bayo Ojulari, had said maintenance of the field was the fourth since the Bonga field began production in November 2005 “The exercise will help ensure sustained production and reduced unscheduled production deferments. For the Bonga team, this is another opportunity to excel, having won the ‘Asset of the Year’ Award 2016 in the Shell Group, followed by runners-up in Norway and Malaysia. We are pleased that the award recognised the continuing collaboration towards optimum production with a focus on safety,

cost and Nigerian content development which will be invaluable in the maintenance work,” Ojulari added. Located in Oil Prospecting Licence (OPL) 212, the 60-square-kilometre field is situated in water depths of over 1,000 metres. Bonga is Nigeria’s first deep-water development and is located 120 kilometres, offshore Nigeria. SNEPCo operates Bonga in partnership with Esso Exploration and Production Nigeria (Deep Water) Limited; Total E&P Nigeria Limited; and Nigerian Agip Exploration Limited under a PSC with NNPC.

EMBATTLED

Former Chief of Staff to the governor of Niger State, Umar Nasko (left), and former Governor of the state, Dr. Babangida Aliyu, during their arraignment at the High Court in Minna....yesterday

FG Signs N13bn Mortgage Refinancing MoU on Workers’ Housing Aig-Imokhuede wants TSA deposits loaned to civil servants

Olawale Ajimotokan in Abuja The federal government yesterday stepped up its desire to deliver decent and affordable houses for public workers by signing a Memoranda of Understanding (MoU) for N13 billion mortgage refinancing. The MoUs were signed towards approving loan that would make it possible for some civil servants to purchase houses under the government backed Federal Integrated Staff Housing (FISH) progamme. The mortgage refinance agreement was signed at the FISH Summit between Federal Government Staff Housing Loan Board (FGSHLB) and Nigeria Mortgage Refinancing Company, while the second MoU was entered between Family Homes Funds which is another government institution to provide affordable housing and the Federal Mortgage Bank

of Nigeria. The Federal Ministry of Finance and the Managing Director Nigerian Mortgage Refinance Company, Dr Charles Iyangete, signed the multibillion loan agreement, while the Executive Secretary Federal Housing Loans Board, Hanatu Fika, signed the second agreement with the Federal Housing Authority on behalf of workers. There are over 30,000 registered and profiled off-takers who have authorised deductions of mortgage or loan repayment directly from their monthly salaries. The Office of the Head of Civil Service of the Federation (HoS) also entered into partnership with the manufacturers of building materials led by Dangote Cement for discounted volume prices to down the cost of building the houses. The HoS, Mrs. Wilfred Oyo-Ita, described yesterday summit as a golden opportunity to deliberate

on strategies that would guarantee affordable housing as well as sustainable sources of funds for FISH Programme. She lamented the cheap and poor quality housing workers reside in satellite towns has adversely impacted on productivity. “The FISH Programme being a sub-set of the federal government mass-housing scheme provides an impetus for the uplifment of the welfare of the federal civil servants. It was designed to alleviate housing challenges of workers in the FCT,” Oyo -Ita said. One of the high points of yesterday’s summit was the donation of three bedroom flat to the man whose wife delivered quintuplets last Saturday, by one of the housing developers, EFAB Properties. All charges relating to title documents plus the house were presented to Mr. Imudia Uduehi.

Oyo-Ita said the gift was a fulfillment of a decent home she promised after Mrs Oluwakemi Uduehi gave birth to five baby girls. Meanwhile, the President Nigeria Stock Exchange, Aigboje Aig-Imokhuede, has clamoured at the summit that deposits from the Treasury Savings Account (TSA) be loaned to workers to enable them afford their own houses. Aig-Imokhuede also said for FISH programme to be successful and sustainable, it must recognise opportunity cost, market forces and create a win-win synergy for all participants. He also called for the setting up of a trust fund from private sector to be managed by Nigerians with track record in trust funding, adding that both federal and state governments should also provide land and subside housing.

WEDNESDAY, APRIL 26, 2017• T H I S D AY

NEWSXTRA

Court Remands Babangida Aliyu, Nasko in Prison Laleye Dipo in Minna A Minna High Court judge, Justice Aliyu Maiyaki, yesterday directed that the former Governor of Niger State, Dr. Muazu Babangida Aliyu, should remain in Minna prison till May 3, 2017, when the application for his bail would be ruled upon. Justice Maiyaki also directed that a former state Commissioner for Environment and later Chief of Staff, Umar Mohammed Nasko, should also be remanded in the Minna prison till May 3, 2017. The duo are standing trial for corruption related offences brought against them by the Economic and Financial Crimes Commission (EFCC). The trial commenced yesterday. The counsel to the EFCC, Mr. Gbolahan Latona, and the lead counsel to both Aliyu and Nasko, Mr. Ayodele Oladeji (SAN), had engaged in marathon legal arguments over the application for and against bail and whether the accused persons should be kept in EFCC custody or Minna prison.

Latona had submitted with evidence that the commission would found it difficult to continue investigation into the matter if the duo were granted bail. Oladeji countered that his client had been in the EFCC custody for more than three weeks, a long enough time for the commission to complete its investigation. Mike Daniels, in his submission for Nasko, said the former chief of staff had since his travail started, made himself available for questioning by operatives of the commission, meaning he would neither jump or obstruct investigation. Justice Maiyaki, at about 4.15p.m., adjourned proceedings to May 3when he would rule on the application for bail. He also, after citing several legal authorities, directed that the accused persons be kept at Minna prison till the date. Earlier, Babangida Aliyu and Nasko pleaded not guilty to the amended six-count charge preferred against them by the commission. The two accused persons were alleged to between January 1, 2011, and May

31, 2011, conspired among themselves to commit criminal breach of trust. Aliyu was alleged to have between January 1 and May 31, 2011 dishonestly converted to his own personal, the sum of N520,348,000 which was withdrawn from Niger State Government House Security Account number 1012424374 in Zenith Bank, and thereby committed the offence contrary to section 311 of the Penal Code punishable under section 312 of the same code.

He was also accused of dishonestly converting to his own use the sum of N1,725,837,000 which was withdrawn from the state Government House security account. The court room had been packed full of journalists, security personnel who were armed to the teeth as well as a few loyalists of the accused persons. Security in and outside the high court premises was very tight. The major road leading

to the court was cordoned off as only those with business in the area were allowed in, while some had to trek from the gate to the high court premises. Meanwhile, despite the strenuous efforts to control protesters at the court, some Peoples Democratic Party (PDP) youths still managed to stage a demonstration. The protesting PDP youths, however, kept their distance from the court complex preferring to demonstrate on the major road leading to

the Jure ultra-modern market, defying the scorching sun. They chanted pro-Aliyu songs carrying placards with different inscriptions like ‘Talba we trust, “Talba we know’, ‘EFCC is a political dog’, ‘Free Talba, there are more thieves in APC than PDP’ ‘There is no change’. Some of the protesters, who spoke with THISDAY, said the trial of the former governor was “purely political.”

Herdsmen Attack Ortom’s LG, Kills Six, Three Others Injured George Okoh in Makurdi Suspected Fulani herdsmen at the weekend attacked TseWuaswem in Guma Local Government Area of Benue State, killing six farmers, according to locals. The attack which occurred at the council ward just a few kilthe state Governor, Samuel Ortom, according to an eyewitness who pleaded anonymity, said at least six persons were killed and several others injured while many others are still missing.

Sole administration of the area, Mr. Joseph Apera, who confirmed the incident in a telephone conversation with journalists, said only one person was killed while three others were seriously injured. Apera said the incident occurred at about 9p.m. last Sunday in Saav district while the people were asleep. “There was no provocation. They just came in, matcheted the person and ran away. Before then, there had been high influx of cattle in the area.

Guma, the home of Ortom, has incessantly been attacked by herdsmen resulting in many deaths and destruction of property. When contacted, the state Police Public Relation Officer (PPRO), Yamu, disclosed that the police received a report from DGSA of Guma on April 24 that herdsmen killed somebody at Tse-Wasem village of Tsev district. He said the Division Police Officer (DPO) led policemen to the area and met one Shiku

Bafum, 50, who stated that on April 23 at about 11.30p.m., he and his younger brother named Kulegwa Bafum were attacked by unknown herdsmen in their compound, adding that the headsmen matcheted Kulegwa Bafum to death and injured him with a cutlass on his left leg. While those injured were taking to the hospital, the police spokesman said six herdsmen were arrested even as the case is under investigation.

Head Office: Lagos Office: 417, Tigris Crescent, 67, Marina Street Off Aguiyi Ironsi, Maitama, Lagos Island Abuja, FCT, Nigeria Lagos, Nigeria. (Beside Corporate Affairs Commission) Tel: 01-2773100-299 Tel: 09-8761892-3, 09-8122820, 8122822, 8122824

APPOINTMENT OF CONSULTANT(S) FOR THE DESIGN OF FRAMEWORK FOR THE MANAGEMENT AND RESOLUTION OF ELIGIBLE INVESTEE COMPANIES (EICs)

REQUEST FOR PROPOSALS (“RFP”) AMCON has acquired equity stake in several companies (also known as Eligible Investee Companies or EICs, principally by way of debt-equity swaps and Ordinary shares’ forfeitures by obligors in settlement of their Eligible Bank Assets (EBAs). Consequently, the Corporation has several EICs in its portfolio. AMCON hereby seeks for proposals from adroit consultants for the design of framework to provide holistic options/approaches for efficient management/ oversight over all EICs, with a view to curtailing breaches to corporate governance codes, checking inefficient management of operations and cashflow, and to enhance robust and timely central reporting of affairs. The framework shall serve as a working document to ensure that the activities around management and resolution of such EICs are guided by a context, and based on documented fundamentals. Interested consultants must provide information confirming they are qualified to perform this service. Each interested party should submit a proposal detailing the following, as a basis for selection: –

Demonstrable experience in similar transactions

–

Recommended transaction approach

–

Indicative timetable

–

Experience of key team members

–

Proposed fee structure

–

Potential conflicts of interest

AMCON now invites consulting firms to respond to its request for proposal to act as consultants for the design of framework to achieve efficient management of EICs and the eventual resolution/ divestment of same. The RFP will be available on, and can only be downloaded from, AMCON’s website (http://rfp.amcon.com.ng/rfp-eic.aspx) from 12:00 pm (Nigerian Time) on Wednesday, April 26, 2017. Proposals from consultants must be received on or before 5:00 pm (Nigerian Time) on Tuesday, May 2, 2017. Only selected advisers shall be notified of the outcome of the selection process.

T H I S D AY WEDNESDAY APRIL 26, 2017

COMMENT

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

THE SEXUALISATION OF CHILDREN Chinelo Ujubuoñu writes that Nigerian parents should decide what their children need

read with keen interest Mrs. Bisi Fayemi’s two-serial article entitled: “Sexualisation of Children: Matters Arising” (THISDAY, April 20 and April 21 respectively). Mrs. Fayemi’s article was in fact a response to Sonnie Ekwowusi’s “Sexualisation of Children: Matters Arising” (THISDAY, April 12, 2017). As a mother of many children and a member of the Concerned Mothers Association, I am flabbergasted that Mrs. Bisi Fayemi trivialised an important issue such as sexualisation of school children treated by Mr. Ekwowusi in his article. Fayemi descended to attacking the person of Sonnie Ekwowusi instead of attacking the issues raised by him. In public discussions, people are free to express their divergent views. I read the article and I did not see where Mr. Ekwowusi called Mrs Fayemi an abortionist. Let Nigerian parents decide what their children need. You cannot speak for us all. I am a woman. I am also a mother who is passionate about strengthening and protecting families, an ardent believer in authentic community/responsible parenting and an advocate for family friendly policies. I believe I should parent with character. I have always maintained that I am not preparing my children to be successful rather to be children with character and responsible citizens who play their part in any environment they find themselves. When we insist that our children must be people with character, all other things will be added onto them. Knowledge without character is detrimental to the person and the society at large. Mr. Ekwowusi raised the alarm in his article that the Comprehensive Sexuality Education (CSE) is very damaging to the character of our school children. He also stated in his article that the Gender and Equal Opportunities Bill (GEOB) 2016 being promoted in Nigeria contains dangerous sections that seek to legalise abortion, lesbianism, homosexuality, and so forth. In the first place, I have gone through the pages of CSE Teaching Manual myself and I must say that I find the content abhorring. The CSE is not just about educating our children on sex matters: it is aimed at corrupting them and telling them that safe-sex is good for them anytime and any day. Sincerely speaking, I do not see the benefit of teaching a boy or girl in JSS1 or JSS2 how to wear the condoms or how to use the contraceptive methods in preventing pregnancy, including, but not limited to, emergency contraception or how to derive sexual pleasure through masturbation. We parents must get the government to stop teaching our children the CSE. Can you imagine your daughter in JSS1 being taught that safe-sex is her right and that she should not listen to your moral instruction on safe-sex because your ideas on it are archaic and retrogressive? Mrs. Fayemi writes that she is a progressive in these matters while the ideas of Sonnie Ekwowusi are archaic and backward. Well, if being progressive is synonymous with promoting CSE then I do not want to be a progressive at all. The truth remains that the sex education taught in most schools is simply sexual indoctrination. I cannot fathom the mindset of a parent who has no problem with sending a child off to a school where he or she will be brainwashed with sexual perversion. It appears I am in the minority here, however, as schoolbased sex education receives support from some people in the name of

THE CSE IS NOT JUST ABOUT EDUCATING OUR CHILDREN ON SEX MATTERS: IT IS AIMED AT CORRUPTING THEM AND TELLING THEM THAT SAFE-SEX IS GOOD FOR THEM ANYTIME AND ANY DAY

protecting the girl-child and women across the country, caution must be applied. Are they truly doing so for the wellbeing of the girl-child or for their selfish interests? You may tag me old-fashioned, but my idea of education includes reading, writing, mathematics, language, spelling, ICT, and science. It does not involve learning about liberal constructs such as gender fluidity and various sexual orientations. Whatever time is spent on this ideology-driven subject is time not spent on others, more appropriate educational items such as teaching adolescents to use reasoning skills, teamwork, entrepreneurial skills, emotional intelligence, etc. In addition, it is reprehensible to be taking tax payers’ money to fund such agenda-driven obscenity that damage the character of our children. In the past, sex education only featured in biology and not in literature books or other subjects. But today it features in almost every school subject. It is clear that our primary and secondary school curricula have been skewed to include many sex-related matters and lewd subjects. In his article, Sonnie Ekwowusi mentioned the name of one Ahmed Akanbi, a parent and a lawyer who was recently scandalised upon learning that his daughter in Primary Five was being corrupted through the so-called sex education in her primary school. At least Mr. Akanbi observed that some things have been removed from the curricula in order to add some obscene materials. Parents like Mr. Akanbi are the primary educators of their children. Therefore any sex education that runs counter to the morality of parents cannot be taught in schools without parental consent. Why? Because, as I said earlier, parents are the foremost educators. The fact that some parents have shirked parental responsibility does not mean that the government should override this parental right. Am I archaic in believing that parents should be solely responsible for matters so deeply personal for their children? I do not think so. Indeed, our sexuality is one of the deepest parts of who we are. It is part of our very identity. Sexual activity is the most uniquely powerful and personal expression of ourselves we can offer, and pardon me for not wanting my children learning about it in schools. If my children are going to be learning about their identity, I want them to learn about it from their family. It is in our families that we should learn about ourselves and who we are, not from government-run systems. The law represents a monumental overreach that infringes on the very duties (some would say rights) of parents. Liberals call the new educational requirements comprehensive and inclusive, and will claim that opposition to progressive sex education principles is fear-based or being archaic. My opposition to so-called “inclusive” sex education is neither fear-based nor archaic, it is morality driven, and those are obviously not the same thing. I want my children to avoid sexual indoctrination not because I am scared of it, but because I believe that the principles being taught are immoral. Ujubuoñu is a Director of the Concerned Mothers Association, an NGO based in Lagos. She is also coordinates a blog called Ozuzuamaka: Good Upbringing is Golden

HISTORY AND BAMAIYI’S‘A GENERAL VINDICATION’ General Bamaiyi’s book is a study in contradictions, writes Oluranti Afowowe

ntellectualism and History specifically is under assault by the Nigerian political elite. Gen Bamaiyi latest book ‘Vindication of a General’ is a classi c example of such assault. For one, Gen. Bamaiyi successfully portrayed himself in the book as a self-opinionated, bundle of contradictions, and a person of doubtful integrity. Or how else can one describe someone who claimed every other person he ever associated with or serve under as evil. Before I am accused of exaggeration, let me give examples. In the book, he described his immediate elder brother-late Major General Musa Bamaiyi as callous, mischievous and dishonest (page213-216); His town (Zuru) Emir- Gen. Sani Sami as an ingrate and insincere emir (page 185); Gen. M. Gausau (his former GOC) as incompetent (page 38); Gen. A. Z. Kazir, (his former Chief of Army Staff) an officer of doubtful loyalty(page 40); Gen. M.C. Alli (his former Chief of Army Staff) a coward (page 45-46); Prof. Yemi Osinbajo (present Vice-President) as an indecisive and diabolical Attorney General (page 133); and Gen Abdulsalam Abubakar( former Head of State of Nigeria) an ex-convict(page113). Gen. Bamaiyi did not even spare Gen. Sani Abacha from his self-conceited attacks, in spite of his pretentions. He opined: I considered the Abacha project of transmitting into a civilian president as comparable to the futility of an individual who chooses to stand on the path of a train that has a failed brake. It becomes useless display of bravery because that will not stop the train from crashing him and yet you are going to be killed (page 237). This is against the background of Gen. Bamaiyi bigotry in the same book where he proclaimed himself to be ‘too honest and too smart’ (page 12). A claim which Gen. Ishola Williams has never made

even when he could justifiably do so. However, on reflection, Chinua Achebe insightful opinion that: ‘An absence of objectivity and intellectual rigour at the critical moment of a nation’s formation is more than an academic matter. It inclines the fledging state to disorderly growth and mental deficiency’ compelled one to respond to history revisionism orchestrated by Gen. Bamaiyi desire to rehabilitate himself from historical oblivion engendered his self-inflicted habitual treachery and deceits. Suffice it to say, the book is a study in contradictions and incoherent thoughts. Gen. Bamaiyi posited that there is nothing phantom about the 1995 and 1997 coups. This conclusion is understandable from Gen. Bamaiyi perspective. He claimed to have detected and foiled the coups. This suggests out rightly it will be self-contradictory for him to admit that the coups were phantom. Yet, Gen. Bamaiyi provided evidences throughout the book that the coups were indeed phantom. On 1995 coup, he claimed: ….I had doubt about Gen.Obasanjo’s involvement in the coup based on the briefing we received from the DMI, Col.Sabo, the SPI report, and the statements of other coupists.(page 41). What is more, the principal motive that led to set-ups to eliminate key political and military leaders was provided by Gen. Bamaiyi. Let me quote him again. …based on available evidence and body language of Gen. Sani Abacha himself, the goal of the transition programme was to return himself to power at the end (page 72)…the flaw in the transition programme changed the character of the regime entirely…it was an agenda that enjoyed the support of many members of his inner circle who capitalised on the weakness of Gen. Sani Abacha. (page 73) The perfidy of Gen. Bamaiyi was epitomised by

his poor and failed attempt to exonerate himself from the 1997 coup set up against Gen. Oladipo Diya. In the first instance, he admitted inadvertently that were attempts to set up Gen. Diya before 1997. Let me quote him: Alli appeared to have agreed to help set up Diya but later confessed to such a setup (page 56). Again, he asked a rhetoric question which succinctly suggests set up against Gen Diya. Let us hear him: If we had tried to set up Gen Diya in 1996, why did he agree to deal with us again in 1997? (Pp56-57). Also, Gen. Bamaiyi admitted that he presided over an army that manufactured evidence against officers for personal considerations. Again, I quote him: Peter Nwaoduah, DG SSS, apologised for what he had done at the investigation panel; he said he had done it to save his daughter and himself because DMI was on his back to implicate me.(page 53). In another instance, he said: Brig.Gen. Sabo, the DMI, once wrote a report to General Abacha alleging that Gen. Babangida, Dr. Mike Adenuga, and I had been seen on Kaduna Road discussing how to overthrown Abacha.(p57)… I asked Gen. Abacha to look at the report properly and see if Gen. Babangida was accused of any offence or involvement in any anti-government activity. If there were nothing, what would he tell Nigerians after Babangida’s arrest? I told him to be careful about what his security operatives told him and the advice he took from them (page 57). He further admitted that Abacha cohort manufactured evidences to get rid of their enemies (pp95-96). It is therefore obvious from Gen. Bamaiyi narratives that Gen. Oladipo Diya was apparently a victim of the ‘Abacha for life cohort’. Gen Bamaiyi rendition on the 1997 coup was riddled with incoherent thoughts and contradictions. In one breath, he argued that Gen. Diya began the coup plan in 1994 which he Bamaiyi informed Gen.

Abacha (page 43-44). Yet, he reported that Gen. M. C. Alli was retired for plotting against Gen. Abacha and the same Abacha prevented the retirement of Gen. Diya on several occasions (page 43). Haba! You are not talking to fools. The historical facts of the 1997 phantom coup are in the public domain. Nigerians do not need a Bamaiyi revisionism to form opinion on who concocted the coup. The chief investigator of the saga - Col. Frank Omenka authoritatively said: When I hear people talk of Diya’s coup I laugh because I know the truth it was not, pure and simple. (Tell magazine no 2, January 11, 1999 p17) Even Gen. Victor Malu judgment admitted that Gen. Diya was not the planner of the plot. Gen Malu said: It was not necessary to inquire into who initiated the conspiracy. The tribunal is satisfied that nobody was arrainged on the charge of initiating a coup plot and, as such, it was not necessary to inquire into who initiated the conspiracy. If the truth must be told, Gen. Bamaiyi thrives on Niccolo Machiavelli adopted philosophy that ‘gratitude is a burden and revenge is a pleasure’Tacitus c.55-120A.D. Gen. Bamaiyi tirade against Gen. Diya apparently is informed by the historic speech of Gen. Diya during his travails when he said: Where is Bamayi? I am surprised that the Chief of Army Staff is not here. He is the mastermind, the executioner and the planner of this incident. I am not going into details of that now because this is a clear case of set up. I am the target and it is organised right from the top. It was a speech made literally at the point death. It was a speech which not only exposed the diabolical intentions of Gen. Abacha cohort but more importantly exposed Gen. Bamaiyi’s real character. rantiafowowe@gmail.com

T H I S D AY • WEDNESDAY APRIL 26, 2017

EDITORIAL ISSUES IN THE NEITI POLICY BRIEF

The federal government should take issues raised by the report seriously

he historical lack of transparency and accountability in the operation of the oil and gas sector in our country threw up a situation in which the Nigerian National Petroleum Corporation (NNPC) and the Nigerian Petroleum Development Corporation (NPDC) were alleged to have failed to remit $21.778 billion and N316.074 billion to the Federation Account. “Considering the difficulties the government has been facing in securing as little as $1billion foreign loan, recovering these funds will significantly enhance government’s fiscal position in the short term,” said the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI) Mr. Waziri Adio. Mr. Adio rightly argued that these unremitted funds should be seen as low-hanging fruits for the current administration. Details of the unremitted funds, according to NEITI’s latest Policy Brief, included an outstanding $1.7 billion from the transfer of eight oil mining leases (OMLs) to NPDC from the Shell JV and $2.2 million from four other OMLs to the same NPDC from the Agip JV. Others were: $148.3 million paid as cash WHEN CRITICAL calls on the transferred INSTITUTIONS OF OMLs, $1.45 billion and STATE TURN A BLIND N70 billion legacy liEYE TO ISSUES OF abilities of NPDC, N243 TRANSPARENCY, WHAT billion from domestic FOLLOWS IS A FERTILE crude allocation to NNPC, and $15.8 ENVIRONMENT FOR billion paid to NNPC CORRUPTION AND as NLNG dividends WASTE WHICH IN TURN ENDANGER THE SYSTEM between 2000 and 2014. However, the report went beyond issue of unremitted monies to concerns about transparency and efficiency in the operations of NPDC. For instance, since 2005, NNPC has transferred 16 OMLs to NPDC. Yet, according to the report, “the process of transfer of these assets raises serious questions, as there appears to be no clear-cut criteria for transfer of oil mining assets to NPDC.” The process for the transfer of critical national assets to NPDC, according to the NEITI, “does not seem

Letters to the Editor

to pass the transparency test. One of the upshots of this is the under-valuation of these assets, thereby depriving the federation of optimal value for the assets.” While we commend the leadership of NEITI for beaming searchlights on the operations of the oil and gas sector with a view to making them more transparent, it is important for the federal government to take the reports very seriously. When critical institutions of state turn a blind eye to issues of transparency, what follows is a fertile environment for corruption and waste which in turn endanger the system. We therefore believe that implementing some of the recommendations in the latest NEITI policy brief will not only help in bringing more money to government coffers, it will also begin the process of cleaning, and getting optimal results from the sector that still remains the backbone of our economy.

S T H I S DAY

EDITOR IJEOMA NWOGWUGWU DEPUTY EDITORS BOLAJI ADEBIYI, JOSEPh UShIGIALE MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAfE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

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

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FAREWELL, MAMA ONEHI OBE

ama Onehi Obe was born to the family of Papa Achadu Ochagwu and Mrs. Iyono Achadu at OkpaneheAdoka in the present Otukpo Local government Area of Benue State at about 1927. At the time of her birth, colonialism was taking control of Idomaland but although education, which was a major component of the new regime was also gaining ground in most parts of Idomaland, girl-child education did not attract much attention. It was held in Adoka, as in most parts of Idomaland at the time, that the honourable place for every woman was in the kitchen. So it was that by 1942 when the young Onehi turned 15, she was married by Phillip Obe Ofitu, one of the most affluent young men in Adoka at the time. As a pioneer salaried man of his generation, her husband was exuberant with it and by his mid-thirties, was a proud husband of six wives. According to Mama Onehi Obe, her husband’s wives were in awe of him.She had the misfortune of losing her first five children at birth. For many years, she lived under the fear that she would never have a surviving child; she was pregnant a record 15 times in her lifetime! Many people in Adoka lost hope that she would ever have a child of her own. The situation changed in 1946 when veteran journalist and former Editor of West Africa magazine, Ad’Obe Obe, was born;

ome of the recommendations in the NEITI report include recovering the $21.7b and N316 billion withheld or owed by NNPC and NPDC; retrieval of the OMLs divested to NPDC that are not fully paid for so they could be auctioned for higher value to the country, and the review of the status and operations of NPDC in line with global best practices to ensure greater efficiency and optimal value to the country. NEITI also recommended that the FG should investigate the status and use of NLNG dividends from 2000 to 2014 and undertake criminal proceedings against anyone found wanting as well as fast-track comprehensive reforms of the improving petroleum sector. To deliver on its mandate, NEITI could also do with more political, administrative and funding supports, especially from a government elected on the platform of curbing corruption, fighting insecurity and growing the economy. Meanwhile, in its policy brief, NEITI proposed “a root-and-branch reform to deepen efficiency, transparency and accountability in Nigeria’s improving but not yet squeaky-clean petroleum sector”. Yet that will not happen until the government begins to take more seriously NEITI itself and the issue of transparency and accountability in a sector that is very critical to both the economy and national security.

she was relieved when she heard the child’s sharp cry after the traditional birth attendants had cleaned him up. According to Ad’Obe Obe, “…that my first cry as a baby marked the beginning of her conviction that her marriage to our father was not cursed and victim of witchcraft as everyone in the community had begun to believe”. As the first wife, Mama Onehi Obe was responsible for the organisation and management of family issues handled by the wives. There was much work in the women affairs department, but she often insisted that her husband should have all the credit for the harmony in the family. She strictly adhered to the wisdom that said family authority must at all times be seen to flow from the father of the compound. Mama Onehi Obe was an astute businesswoman and was popularly known for her trade in salt, which she moulded and baked into balls for the retail market. She also traded in fish, pepper, maize, yams, guinea corn and okpehe (locust beans). Though she didn’t attend a formal school, she had such a good head for figures that she was able to correct a fraudulent balance entry in her savings passbook. Even when she was no longer able to move about, she conducted business from her bedroom. According to her first surviving child, Ad’Obe Obe, “our telephone conversations would always end with her offering me advice on the revenue potential for my farm in any given season”. Nats Agbo, Lagos

SANUSI, WAHABBHISM AND ARRESTED DEVELOPMENT

n trying to uphold the norms of tradition and religion, the Emir of Kano, Sanusi Lamido Sanusi, finds extreme contrasts in objectivity that his schooling has bestowed on him. Thus, this Amir blurts out his true feelings about the state of affairs in the Muslim North. True, the Muslim North was not always this bad in the 1970s and early 1980s; suffice to mention that there was no incidence of anti-Christian riot throughout Northern Nigeria in the 1970s and early 1980s and thus there was investment galore and this region thrived. However, all these changed from the mid-1980s onwards when Wahabbhism (Izalanchi) surreptitiously crept into the consciousness of the Muslim North and the results were not good for national integration: the unilateral action of Gen. Ibrahim Babangida, as the President of Nigeria, to align Nigeria with the Organisation of Islamic Conference (OIC) in 1986 has been loudly greeted with anti-Christian massacres: from 1987 through 1989, 1991, 1996, 2000, 2001, and to the present day, Nigeria’s anti-Christian massacre flash points have been Zaria, Tafawa Balewa, Zango-Kataf, Kano, Bauchi, Kaduna, Jos, Maiduguri, Damaturu, etc. When 12 states

of Northern Nigeria adopted the Sharia code (effectively overthrowing the constitution and technically seceding), the message to Nigerians was clear: faith-based arrested development has set in and this lag was micromanaged by a plethora of banks and charities in Saudi Arabia (in fact, some of these banks and charities are being sued in the US for surreptitiously contributing to the terror acts of September 11, 2001). What has just occurred to Amir Sanusi is the grand delusion of a superiority complex that the predominant religion of Northern Nigeria has bestowed on Arewa and especially when there are veiled injunctions to do harm and injustice to adherents of other religions (Christianity, especially) whilst abhorring learning of trades and doing manual labours because these are reserved for the “unbelievers.” This injustice and laziness are the states of affairs that have carried into 2017 and these are bothering Amir Sanusi and Sarkin Kano has realised that this injustice had even begotten the Islamic enforcer called Boko Haram and the laziness is the reason for the army of beggars in Kano and beyond. Sunday Adole Jonah, Dept of Physics, Federal University of Technology, Minna

T H I S D AY WEDNESDAY APRIL 26, 2017

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T H I S D AY • WEDNESDAY, APRIL 26, 2017

MIDWEEKPOLITICS

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

TRIBUTES

Adeleke’s Painful Exit

For the people of Osun, the sudden death of the first executive governor of the state, Senator Isiaka Adeleke, is not just a colossal loss, it is equally suspicious. Segun James and Shola Oyeyipo write

t was a blend of sorrow, anger and anxiety last Sunday, in Osun State, particularly in Ede, the country home of the first executive governor of the state, Senator Isiaka Adeleke, when the news filtered into town that the flamboyant and charismatic federal lawmaker died at 62 in a private hospital in Osogbo when he succumbed to a protracted ailment. Family sources said the late Adeleke suffered a heart attack and was rushed to Bikets Hospital where he passed away and by that incident, the political permutation of many book makers ahead of the next governorship election in the state has automatically changed. The reason is simply because it wasn’t just that he had started wooing more supporters to actualise his comeback bid, Adeleke was one of the strongest contenders to the Bola Ige House. The immediate reaction among some of his die-hard supporters was suspicion. They held strongly to the view that the late politician’s death was not natural and that he was attacked spiritually. Some others claimed that he was poisoned with the view to pave way for another APC aspirant to win the next year governorship election. But for the timely intervention of spirited Nigerians Nigeria Television Authority (NTA) reporter, Mr. Tope Alabi and his cameraman would have been the first casualties of the emotion trauma that followed the news of Adeleke’s death as irate youths protesting the sudden death of the well-loved politician took to the street and attacked the journalists out of their anger. This is more so because the late senator attended an event in Iwo, Osun State on Saturday, April 22 and he was looking hale and hearty. What does it take a politician to be loved by his people? Some say to be considered loved by your people, you must have impacted on their lives positively. If this is so, then the outpouring of grief and tears that followed Adeleke’s death over the weekend is well deserved. He rocketed into the nation’s political stage in 1991 with a charismatic and flamboyant posture hoping to become the first civilian governor of the newly created Osun state in 1992 during the third republic, and not surprisingly, he achieved his ambition. Not that he was new to politics. In fact, he was born into it. Being a scion of a politician father who was a senator of the federal republic, politicking came naturally to him. But then, he was not satisfied or sufficient at being the son of political father whose names can open doors, he wanted to achieve on his own. The challenges would not be easy to overcome. In the politics of the southwest, every political decision was taken by a committee of elders who determined who got what and when. But when this young man of 37 years decided to dare the odds, it was assumed that his ambition was dead on arrival. This was not his only obstacle; the Yoruba have an adage: ‘we cannot serve the father and also serve the son.’ But Adeleke would not let this be a hindrance to his ambition. He made it known that he was his own man. He dared the odds and was eventually elected and sworn in as the executive governor of the state. Not satisfied with the kingmaker role he has been playing in the last 20 years while also being a player, Adeleke was preparing for a second coming as governor when death

Adeleke…left at 62

came calling. Some politicians in Osun were uncomfortable with his ambition. Adeleke was also not afraid to confront those in authorities. He had spoken out again st the undemocratic practice of the Osun State Government under Raufu Aregbesola for refusing to conduct local government elections in the state. He was a vibrant, unabashedly liberal political player who occupied a central position in the politics of his state. Following the return of politics after his tenure as governor abruptly ended by the 1993 coup that ushered in General Sani Abacha, Adeleke returned to his private business until the return of politics in 1999. He was elected into the Senate on the platform of the Peoples Democratic Party (PDP) in 2007 and again in 2011, but he defected to the All Progressives Congress (APC) before the 2015 general election under whose platform he was re-elected in 2015. When Osun State was created in 1991, little was it known that a thorough-bred Omoluabi, in person of Adeleke, would be its first executive governor! He ran the state for 20 months and no doubt, left indelible achievements behind.

Adeleke was also not afraid to confront those in authorities. He had spoken out against the undemocratic practice of the Osun State Government under Raufu Aregbesola for refusing to conduct local government elections in the state

Adeleke embodied the good, time-honoured values of a gentleman, in words and deeds. He was thus recognised by his peers, subordinates, associates and the elders. Well-nurtured and good-natured in his spiritual, political, family and professional callings, Adeleke had a simple disposition to life, easily accessible and never shunning anybody on account of his or her low class. He was born on January 15, 1955 to the family of Ayoola Adeleke and Esther Adeleke. His father was once a Senator of the Federal Republic of Nigeria. Though, an indigene of Osun State, he was born in Enugu State and was there in his early years before the civil war began. He had his Primary Education at Christ Church School, Enugu before his family moved to Ibadan. He however completed his secondary school at Ogbomosho Grammar School where he had his West Africa School Certificate in 1972. He then proceeded to the Jacksonville State University, United States of America where he earned a Bachelor’s Degree in Political Science in 1983. In 1985, he obtained his Masters in Public Administration from the same Institution. Before becoming a senator, he was the Chairman, Governing Council, Nigerian Export Promotion Council, Pro-Chancellor and Chairman, Governing Council, University of Calabar, Nigeria. He was also the Director of Pacific Merchant Bank and Chairman of Tadel Investment Limited. In 2007, Adeleke contested for a seat in the Osun West Senatorial district under the platform People’s Democratic Party (PDP) and won. He lost out in the 2011 elections. However, in the 2015 elections, he again re-contested for a seat in the same district under the platform of the All Progressives Congress (APC) and won. He found satisfaction living among his native Osun people since he left office as governor in 1993. He would not forsake his people. This perhaps explained why he refused to relocate abroad or to mega cities. He was

a cheerful giver, who did his best to better the lot of his constituency, during his tenure as a senator. His Ede home, as well as his modest residence in Ikeja, where he lived since 1993, remained all that he had to show for his years in politics. This is in contrast to the high taste of other politicians that he mentored, who now have thrown up multi-million naira mansions after just few years of being in political office. His experience in the Senate during his first election into the upper legislative chamber, gave him a broader focus and clearer vision, which he found useful when he came back in 2015. His creativity, huge mental intellect, assertiveness, communication skills, charisma, doggedness and resilience in the face of extreme provocation, stood him out as a politician in the class of his own. A man with the distinguished national honour of a Commander of the Order of the Niger (CON), he was a force to be reckoned with in Osun political arena. While some opted to take to the street, reactions among other notable Nigerians underscored how the people felt about a man who nobody thought was going to die any time soon. Governor Aregbesola, in far away China, who took to his twitter handle shortly after the news said: “I received with a deep sense of grief the news of the death of my brother and friend, Senator Isiaka Adeleke.” Senate President, Dr. Bukola Saraki described Adeleke’s death as a “sad personal loss”, stressing that “He was a formidable colleague.” He added that: “Senator Adeleke was always passionate about his work. He always exhibited a distinct dedication and an ability to work with everyone. Senator Adeleke’s contributions to the development of Osun State in particular and the nation in general will never be forgotten. He was a leader in every right, a formidable colleague, patriotic statesman, good family man and complete gentleman.” The Ooni of Ife, Oba Adeyeye Ogunwusi, also joined other Nigerians to speak highly of the former governor when he described the death of Adeleke as a rude shock in a statement issued by one of his media aides, Mr. Moses Olafare. According to the monarch, Adeleke’s sudden death was a great loss to the state and the country at large. Former Osun State governor, Mr. Olagunsoye Oyinlola, on his part described Adeleke’s death as a monumental loss, adding that the late politician was his brother, friend and confidant whose demise had made him, the state and the political class in Nigeria poorer. Former three term member, Nigerian House of Representatives between 2003 and 2015 and Senior Special Adviser to President Muhammadu Buhari on Foreign Relations and Diaspora, Hon. Abike Dabiri Erewa said: “What a colossal loss! Senator Isiaka Adeleke. He still campaigned actively as at yesterday (Saturday) evening!” While the list of mourners and sympathizers are bound to be endless and outpour of emotion continuing, the general overview of how the Osun politician is seen was succinctly encapsulated in the condolence message of the Hon. Najeem Salaam-led Osun State House of Assembly which described as “rude shock and great loss,” the death of Adeleke, who currently represents Osun West senatorial district at the upper chamber of the National Assembly CONTINUED ON PAGE 19

T H I S D AY • WEDNESDAY, APRIL 26, 2017

PERSPECTIVE

MIDWEEKPOLITICS

Ikpeazu Leverages on Humility Apart from his commitment to the development ofAbia State, there is something, Dr Okezie Ikpeazu has going for him: his humility, writes Mark Mbam

hen in the Holy Bible, St. Mathew in Chapter 23 verse 12 states, “That whosoever exalts himself will be humbled, and whoever humbles himself will be exalted”, many may not understand the true meaning of this verse. The import of the above teaching is that whosoever shall exalt himself above his fellow Christians or fellow human beings, by entertaining too high an opinion of himself, by boasting of his gifts, as preferable to others, and as if he has not received them; by assuming, or eagerly coveting titles of honour among men, or affecting honour that do not belong to him, or abusing what he has: “Shall be abased” or humbled by God or men, or both; such shall lose the honour they have, and come greatly short of what they are ambitious of; they shall fall into disgrace with men and are abominable in the sight of God. The second flank of the above verse of the bible “and he that shall humble himself”, by entertaining low thoughts, and a mean opinion of himself behaving modestly among men; not elated with his gifts, but acknowledging that they are the grace and goodness of God; and using them in an humble manner and to the advantage of others; not coveting from men nor lifted up with what is conferred on him, “Shall be exalted” by God, or men, or both; if not in this world, yet in the world to come. Indeed, generally speaking, such modest and humble persons are most esteemed among men; and God gives more grace unto them and will at last give them. This is the story of the Abia State Governor, Dr. Okezie Victor Ikpeazu. His humble disposition has not only manifested in his leadership style at home, but the virtue went with the governor to far away China where he had gone to seek ways of showcasing the much talked about Made- in -Aba products to the outside world. Ikpeazu’s display of humility took place in an inter-city train service in China which the governor boarded and was comfortably seated. Before the train took off, the governor noticed an elderly man who probably must have come in later, standing uncomfortably. Out of respect and in a show of humility, the governor offered his seat to the octogenarian. I was shocked. The beauty of the drama lies in the words of the octogenarian who said to Ikpeazu “thank you sir for this show of humility and love, God will reward you abundantly”. Ikpeazu’s character evidenced in his humility and meekness presents an incredible picture, especially in consideration of the prevalent position of some African leaders whose stock in trade is pride, arrogance, dictatorial tendencies and claims of the knowledge of tomorrow. For this type of leaders, their thoughts are like that of the proverbial rich fool as narrated in the book of Luke 12 verse 13-21. In that parable, Christ teaches the foolishness of attaching too much importance to wealth without reflections on the uncertainty

Even the critics of the current administration in the state would applaud the governor for this giant stride

Ikpeazu…governing with humility

of life and its vanity thereof. In his foolish thought in that parable, the rich man said to himself “what shall I do? I have no place to store my crops for they are many. This is what I will do, I will tear down my barns and build bigger ones, and there I will store my surplus grains. And I will say to my self, I have plenty of grains laid up for many years, take life easy, eat, drink, and be merry”. But the rich fool forgot something, (his life) and God said to him “you fool! This very night your life will be demanded from you. Then who will get what you have prepared for yourself?”. To this school of thought as leaders or governors in a public transport, they would say “why and how should I offer my seat to a stranger, am I not a governor?” But on the contrary, Ikpeazu demonstrated that he is of a humble background. He believes in the philosophy that man owns nothing on earth for when the final whistle of life blows, and he lies motionless with white cotton wool covering his two nostrils, with his eyelids closed, he gains nothing but the state of his soul which according to Christian belief shall stand for judgment. In one of his public outings specifically at a burial ceremony, Ikpeazu had remarked “I delight joy attending funeral ceremonies than any other social function. This is not because I delight in people’s death but that it offers

me an opportunity, to once again reflect on the essence of life, its vanity, and the need to realise that the circumstances for which I am here (burial ceremony) today is a general dinner for all the living souls. Therefore, if I shall one day die and lay motionless like this; if I shall one day exit the stage on earth, how will I be remembered and what is my fate in the next world? Indeed it is pertinent for us as the living to shape our character and behavior, to coin our attitude and determine our pattern of relationship with people on the altar of the mystery of life and death for we came here with nothing and with nothing we shall go. A clinical surgery into Ikpeazu’s anatomy of behavior traced his humility, meekness, peaceful disposition and wisdom to his genetic background, having been raised by a teacher- father and a nurse as a mother. Traditionally, the axiom that a snake will never give birth to an offspring other than a lengthy specie played out in Ikpeazu’s life. If the customary role of a teacher is to raise children in the modest way of life so as to be useful to themselves and the society, there is no doubt that Ikpeazu was truly the son of his father. On the other hand, unless one has not visited hospitals, especially in the emergency and labour wards, one will not appreciate that nurses are truly trained to care, love and persevere. These two hospital departments are areas where horrible and

gory scenes are witnessed on daily basis yet nurses do not abscond. They carry such patients and attend to them. They work both day and night, endure the groaning and pains of patients. They cuddle them, give them words of hope and revive them with the aid of the doctors. Leaders are faced with challenges, turbulent circumstances, false allegations and in most cases, crucified for the sins of others. But to recall Ikpeazu’s humility in far away China is to remember the whispering of his late mother, today he has assumed the leadership of Abia State, characterised by so many challenges such as incessant legal battles, economic down turn, infrastructural decay across the three senatorial zones and attitudinal ‘sickle cell’ that bedeviled the state. Ikpeazu must have said to himself, “Would I cry because of these challenges? No! I will face the challenges”. He is encouraged by the words of William Shakespeare that, “the utmost measure of a man is not where he stood in the moment of comfort, but where he stands in the moments of changes and controversy”. In his realisation of the popular Igbo adage, that he whose house is on fire does not go about chasing rat. Ikpeazu abandoned the comfort of his home and his favourite local delicacies and left the shores of the country on the April 11, 2017 to China in search of economic fortune for people of Abia State. In China, Ikpeazu sought investors who would deploy technology to enhance the wonders already existing in Aba, especially in the areas of textile and leather products. Even the critics of the current administration in the state would applaud the governor for this giant stride. This is because a visit to Aba, would reveal to one that Abia State, if properly harnessed and positioned, is capable of leading Nigeria into global recognition in textile and leather industry. It is also, undoubtedly a channel for economic boom for not only Abia State, but the country. In addition to his interest in the promotion of Made –in- Aba goods, Ikpeazu’s visit to China enable him to seek collaboration in the areas of Information Communication Technology (ICT), agriculture and other economic related activities. Ikpeazu is endowed with mental and physical prowess, as well as charisma to lead. For again, like Shakespeare, “What can be avoided, whose end is proposed by the Mighty gods?” Ikpeazu is indeed a man of destiny whose political history is anchored on the theory of predestination as emphasised by Elechi Amadi in his book, The Concubine. Mark Mbam Jnr, a public opinion analyst, wrote in from Umuahia

A D E L E K E ’S PA I N F U L E X I T The statement by the chairman, House Committee on Information and Strategy, Hon. Olatunbosun Oyintiloye, stated that the death was a great loss to the people of Ede town, Osun West senatorial district, Osun State, upper chamber of the National Assembly and Nigeria in general. The state’s parliament said: “Senator Adeleke was a leader of leaders, a philanthropist per excellence has made significant impacts in the lives of many young ones in Osun and Nigeria as a whole”. There is no gainsaying

the fact that the state has lost one of its most experienced politicians, whose death will no doubt leave a huge vacuum in the pool of experienced politician and democrats in our state. The state parliament valued the invaluable contributions of Senator Adeleke to the development of our state, and entrenchment of democratic tenets. No doubt, he will be greatly missed.” A former deputy governor and Senator, and Chairman of the Senate Committee on Appropriation, Senator Iyiola Omisore expressed

grief over the death of Adeleke. Omisore, in a press statement described him as an accomplished politician, entrepreneur and philanthropist. The former Deputy Governor stressed that Adeleke would be missed in the state for his profound philanthropy and humble lifestyle. Omisore said the late Senator was diligent in all his state and National assignments, and made his significant impacts in the lives of many within the state and Nigeria as a whole. “I received with deep sadness, the shocking

news of the demise of a political Icon, Senator Isiaka Adeleke. His demise no doubt leaves a void that cannot be easily filled. As a former governor of our dear state and a Senator, his footprints were indeed indelible. “His death is a personal loss to me. Though in a different political party, we both understood the fact that political party is just a platform to serve our people. We worked together in the Nigerian senate with the interest of our state paramount on our minds. It is indeed a dark day” the statement reads.

T H I S D AY • WEDNESDAY, APRIL 26, 2017

FEATURES

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

Changing Face of Ikoyi Passport Office Time was when the passport office operated in Ikoyi, Lagos, by the Nigerian Immigration Service was the definition of chaos and graft, but the reforms instituted in the office have initiated a transformation that may be replicated at passport offices nationwide, Chinedu Eze writes

The Ikoyi Passport Office

hese days, the first thing to notice when you arrive the passport office, Ikoyi, Lagos, is the orderliness, cleanliness and immigration officers moving about their business with purpose and professionalism rarely seen before. The cacophony and chaos of old is gone. When THISDAY paid an unscheduled visit to the passport office recently, it discovered that the new Passport Control Officer and Deputy Comptroller of Immigration (DCI), Segun Adegoke was introducing sweeping and dramatic reforms that have eased the time it takes Nigerian citizens to renew and apply for new passports. Under the new regime, Adegoke, who was not in the office on the day of the visit and declined to speak to THISDAY when contacted on the phone, has made Nigerian citizens the focus of attention. The objective, some immigration officers who spoke on the transformation, is to ensure that the customer is satisfied with no extra cost and with the utmost respect accorded to him or her. Fortunately, the reforms instituted by Adegoke have not gone unnoticed. The Comptroller-General of the Nigerian Immigration Service (NIS), Mr. Mohammed Babandede,

who is just as focused on improving the services of the agency that he heads, has been very supportive and provides the guidance and encouragement that have spurred the DCI to make the necessary changes at the

Fortunately, the reforms instituted by Adegoke have not gone unnoticed.The Comptroller-General of the Nigerian Immigration Service (NIS), Mr. Mohammed Babandede, who is just as focused on improving the services of the agency that he heads, has been very supportive and provides the guidance and encouragement that have spurred the DCI to make the necessary changes at the Ikoyi passport office

Ikoyi passport office. The new measures instituted by the officials at the passport office have been so significant that applicants who visit the office cannot stop talking about the positive changes and the respect given to them by immigration officials. One official who preferred not to be named because he was not authorised to speak on the subject, said the feedback they have received was while several Nigerians have been amazed at the changes they have seen and the short turn-around time it takes for them to get their passports, others say they could not believe that such efficiency and professionalism could be found in a government institution. It was not just NIS officials that were happy with the reforms instituted at the Ikoyi passport office, as applicants who spoke to THISDAY on the day of the visit were also full of praise for the progress. “I know that it takes one person at the helm of affairs to change a society,” an applicant, who identified himself as Simon said. Explaining, the immigration official told THISDAY: “Most of the highly placed people in society visit the passport office at very short notice and would want to process and collect their passports within the shortest

time possible. We make bold to say that their expectation have most times been met and in line with our sincere desire to be proactive as well as professional in our service delivery since Mr. Adegoke took over.” Before Adegoke took charge, the Ikoyi passport office was beset with many challenges, ranging from overstretched infrastructure to a poorly motivated workforce. The office needed backup for most of its equipment such as laminators, passport printers and cameras to churn out travel passports each time there was a breakdown. Then there was the problem of the archiving unit, which is still handled manually and cannot accommodate the current level of production, creating a massive backlog, which does not make room for efficiency. But one of the major problems of the Ikoyi passport office was overcrowding. Nigerians applying for passports, especially renewal of old ones, milled around the place which was overrun by touts, racketeers and others to create chaotic and an unruly environment that defied the past management of the office. The seeming lawlessness was contagious such that banks which did business there joined the fray and instead of building befitting offices in the complex, chose to operate in over-heated shipping containers,

T H I S D AY • WEDNESDAY, APRIL 26, 2017

FEATURES thus magnifying the lack of orderliness in the premises. Such sore sights discouraged many applicants who used to go to the Ikoyi passport office to get their passports. Not knowing how to wade through the crowd to bring their request to the management, some of the applicants were known to patronise touts to push their requests, hence the illicit deals that thrived in the Ikoyi passport office for many years. But all these, according to officials and applicants who THISDAY spoke to, have become a thing of the past under Adegoke. “Now, you can walk to his office, no matter who you are, and make your request and get a positive and immediate response. He is now changing the attitude of the officers and men in the passport office, albeit, with some resistance,” said one oil company worker, who had just been issued a new passport in 48 hours despite the shortage of passport booklets. THISDAY learnt that on assumption of duty at the end of January 2017, Adegoke was reportedly shocked by the crowd that besieged the passport office as soon as the gates were thrown open at 8 a.m. everyday. “Most of them used to come for image acquisition without their files being completed, some to collect processed passports that had not been sorted out. So Adegoke then adopted the strategy of using 8 a.m. to noon to sort out produced passports and commenced issuance immediately after sorting was concluded, while everyone was patiently seated. “Within a few hours, the crowds disappeared because persons whose passports were ready had been attended to within the shortest time,” an official who was impressed by the changes Adegoke brought to the Ikoyi passport office told THISDAY. Before he took over security was also lax, the official added. There were reports of theft, so the DCI took immediate action to secure the office. “It is obvious that the idea of security has moved away from the traditional state-centric approach to one that is people-oriented security approach. “The Passport Control Officer met with every group and persons who had anything to do within the office and charged each and everyone to be part of the policing of the premises. Security of lives and property within and around Ikoyi passport office is key to our stay here as immigration officers,” the official told THISDAY. He further revealed that other than the internal changes, the DCI has met with heads of the state liaison offices in Lagos and enjoined them to always identify and issue identification letters to those who come from their states to ensure that the letters are properly issued to only persons from their state. Adegoke was quoted to have said that effective collaboration with this group of government workers would assist in no small measures to reduce fake breeder documents in processing passports. “Arrangements have been made with the Lagos State judiciary to send a representative of the court for issuance of affidavits and other legal breeder documents within the passport premises. Also, on the issue of touts,

Adegoke, according to his officers and men, is also working with them to sanitise the Ikoyi passport office to ensure that applicants are not exploited and that there is proper accountability and documentation. He also plans to electronically document the archiving system to cut down the volume of paper work and create space for more office accommodation

Comptroller-General of the Nigerian Immigration Service (NIS), Mr. Mohammed Babandede...a change agent

which is another serious problem here, we are making efforts to surmount it. The activities of touts and miscreants who hang outside the passport office on a daily basis portend a serious operational danger, so conscious efforts have been made to reduce touting to the barest minimum if not completely eliminated. “The stakeholders meeting he had with downloaders within the Ikoyi passport office, the meeting with liaison officers of various states in Lagos, and the planned interface with local government representatives in Lagos, are all tailored towards making touting a non-profitable venture at the Ikoyi passport office,” the immigration official explained. In addition, since he took over in January, Adegoke, it was gathered, has inculcated a set of behavioural standards anchored on the NIS Service Charter for its officers and men. He has introduced mechanisms to ensure that business integrity processes are established and fostered. He is planning to install scanners at the gate to screen applicants and their bags, introduced community policing by and among traders and officers, and has also reached an agreement with stakeholders for the provision of technical assistance where necessary. Adegoke has also directed Skye Bank, which

operates in the premises with a shipping container, to establish a more befitting facility and provide seats for its customers in order to encourage orderliness and comfort for applicants that patronise the bank. Adegoke has also created orderliness in the processing of applicants for scanning and capture of their photos and finger prints, while the old system whereby there seemed to be a disconnect between immigration staff and the applicants has been erased by the new helmsman who reaches out to the applicants from time to time to explain the processes and gives them options to wait or come back later while their passports are being processed. Expectedly, this humane approach has created a friendly atmosphere in the Ikoyi passport office. Adegoke, according to his officers and men, is also working with them to sanitise the Ikoyi passport office to ensure that applicants are not exploited and that there is proper accountability and documentation. He also plans to electronically document the archiving system to cut down the volume of paper work and create space for more office accommodation. THISDAY learnt that NIS still offers the 32-page passport to Nigerians for N19,000 and the 64-page passports for N24,000 and despite the fact that Nigerian passports are

produced under a public private partnership arrangement, which ensures that payment for the passports is sent to the headquarters, the Ikoyi passport office was able to generate about N104 million in January alone. Adegoke has also eliminated the system whereby applicants are made to pay for the 64-page passport when it is not available, only for applicants to be issued the 32-page passport. THISDAY learnt that the new man in Ikoyi has insisted that applicants must pay only once and if the type of passport they requested and paid for is not readily available, they should exercise a little patience and wait for its availability. Within a few months Adegoke, who it was gathered has a law degree and international experience having worked for the United Nations refugee programme in Sudan, has fashioned out and continues to work on a transformation template that could be replicated in passport offices nationwide. This could not have come at a better time seeing that the Comptroller-General of NIS, among other agencies of government, are at the vanguard of championing the current administration’s policy on ease of doing business in the country. Beyond its passports offices, it is hoped that the same can-do spirit is extended by the NIS to border control and other services it renders.

IMAGES

L - R:, General Manager, Marketing,Linkage Assurance Plc, Joyce Ojemudia; , Executive Director, Capital Markets, Nigerian Stock Exchange (NSE), Haruna Jalo-Waziri; Managing Director/CEO, Linkage Assurance Plc, Pius Apere, and , Non-Executive Director, Linkage Assurance Plc, lmo Oyewole during the closing gong ceremony at the Sock Exchange in Lagos....recently

The newly appointed Director General, National Emergency Management Agency (NEMA), Engr. Mustapha Maihaja (right) receiving handover note from Director, Finance and Account, NEMA, Mr. Hakeem Akinbola in Abuja...recently enock reuben

L-R: Representative Acting Director General, NAFDAC, Mrs. Monica Eimujeze; Country Manager, Beiersdorf Nigeria, Mr. Godwin Harrison; Executive Secretary, Nigerian Investment Commission (NIC), Mrs. Yewande Sadiku and the Executive Board Member, Americas, Russia, India, Middle East and Africa, Beiersdorf, Mr. Stefan De Loecker, during the official launch of the Beiersdorf Corporate Office, makers of Nivea product range, in Lagos...... recently

T H I S D AY • WEDNESDAY, APRIL 26, 2017

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

L-R: General Manager, British American Tobacco Nigeria Foundation (BATNF), Abimbola Okoya; Branch Chairman, Manufacturers Association of Nigeria (MAN) (Oyo, Osun, Ondo, Ekiti states), Chief Kola Akosile; Director General, MAN, Segun Ajayi-Kadir; Head, Government Affairs, British American Tobacco Nigeria (BATN), West Africa, Odiri Erewa-Meggison and Head, Corporate Affairs, BATN, West Africa, Seyi Ashade, during the Director-General of MAN’s visit to the BATN Factory in Ibadan...recently

L-R; Chief of Ships Safety Sector, Egypt, Amgad Mohamed Khater; Director-General, Ghana Maritime Authority, Kwame Onwusu; Chairman, NIMASA, Major General lndian Garba(rtd) and DG/CEO,NIMASA, Dr. Dakuku Peterside at the closing session of the 3rd Annual Conference of the Association of African Maritime Administrations in Abuja...recently abiodun ajala

L-R: Head, Lubricants, OVH Energy Marketing Ltd, Mrs. Lilian Ikokwu; General Manager, Environmental Health, Safety, Security and Quality (EHSSQ), Dr. Oyet Gogomary; acting Chief Executive Officer, Mrs. Olaposi Williams and Head, Marketing and LPG, Ganiyu Azeez, during the Oleum distributors customers forum, by OVH Energy Marketing, in Lagos.....recently kola olasupo

L-R: User Operations Manager, OLX Patrica Duru; Business Development Manager, OLX; Mayokun Fadeyibi; Commissioner, Stakeholders Management, Nigerian Communications Commission, Sunday Dare and Marketing Oyo State Deputy Governor, Chief Alake Adeyemo(left) and Deputy Inspector-General of Police (Southwest), Mr. Manager, OLX Fife Aiyesimoju during he presentaion of the BOICT award for the Best Online Classifieds Advert Foluso Adebanjo, during a courtesy visit to the Governor’s Office in Ibadan... recently Photo: Governor’s Office Website of the year to OLX by NCC in Lagos...recenly

T H I S D AY • WEDNESDAY, APRIL 26, 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 W’ Bank, AIIB Sign Cooperation Framework

The World Bank Group President, Jim Yong Kim and the Asian Infrastructure Investment Bank (AIIB) President Jin Liqun have signed a memorandum of understanding (MoU) to strengthen cooperation and knowledge sharing between the institutions. The MoU provides an overall framework for cooperation between theWorld Bank Group and AIIB in common areas of interest, including development financing, staff exchanges, and analytical and sector work. It paves the way for the two institutions to further enhance coordination at the regional and country levels. “The World Bank Group has worked closely with our partners at the Asian Infrastructure Investment Bank since its inception,” Kim said. “We’re already financing projects together from Azerbaijan to Indonesia, and I’m delighted to further strengthen our partnership. Collaboration between development institutions is essential to make the best use of scarce resources, crowd in the private sector, and meet the rising aspirations of the people we serve.” The World Bank Group and the AIIB had signed a Co-Financing Framework Agreement for investment projects a year ago. Since then, the AIIB and the World Bank have co-financed five projects, supporting power generation in Pakistan, a natural gas pipeline in Azerbaijan, and slum upgrading, dam safety, and regional infrastructure development in Indonesia.

Leaders Move to End Tropical Diseases

WORLD BANK ECONOMIC UPDATE MEETING

L-R: A Senior Communication Officer, World Bank,Nigeria, Mrs. Olufunke Olufon; Acting Head of Office, World Bank, Nigeria, Mr. Bayo Awosemusi and Country Senior Economist of World Bank, Ms. Yue Man Lee, during the World Bank press briefing on the latest African Economic update at the World Bank Headquarters in Abuja…recently enock reuben

Listed Banks Pay N131bn into Government’s Coffers as Tax Goddy Egene Thirteen banks listed on the Nigerian Stock Exchange (NSE) have contributed a total of N131.189 billion to the coffers of the federal government as income tax for the financial year ended December 31, 2016. Apart from the FBN Holdings Plc and Skye Bank Plc, that are yet to report their 2016 audited results, other banks had submitted their results. And THISDAY analysis of the results showed that the banks paid government about N131.189 billion as income tax from the profit they posted for the year. The amount is 53 per cent above the N85.464 billion they paid in 2015. The banks are: Access Bank, Diamond Bank, Guaranty Trust Bank Plc, Ecobank Transnational

ECONOMY Incorporated, FCMB Group Plc, Fidelity Bank Plc, Stanbic IBTC Holdings Plc, Sterling Bank Plc, Union Bank of Nigeria Plc, United Bank for Africa Plc, Unity Bank Plc, Wema Bank Plc and Zenith Bank Plc. A breakdown of the tax payment showed that GTBank Plc paid the highest of N32.8 billion, followed by Zenith Bank Plc with N27 billion, while Access Bank Plc contributed N18.9 billion to government’s coffers. UBA paid N18.328 billion just as ETI paid N18.2 billion. Stanbic IBTC Holdings paid N8.689 billion while Unity Bank Plc, Fidelity Bank Plc and Diamond Bank Plc contributed N1.816 billion, N1.327 billion,

and N1.287 billion respectively. Others are: FCMB Holdings (N924 million), Sterling Bank Plc (N837 million), Wema Bank (N684 million), and Union Bank (N347 million). Market analysts said as the government continues to find ways of taking the economy out of recession, the banks would performance better and increase their contributions as tax. As revenue from oil suffers a decline due to low prices, it is believe government should focus on revenue from taxes and the encouraging companies to list on the NSE is one of the best ways to ensure payment of taxes by companies. According to the Executive Director, Capital Market Division, NSE, Mr. Haruna Jalo-Waziri, “it is evident

that listed companies on the NSE pay more corporate tax to the federal government due to their high level of transparency, financial disclosure and corporate governance.” Jalo-Waziri therefore, called on the government to put in place enabling laws and framework to enable more listings on the NSE, develop friendly tax policies and codes for listed companies, as well as encourage tax holidays while making it more difficult and expensive for tax avoidance. Speaking in the same vein, Mr. Ayodeji Ebo of Afrinvest West Africa, said fresh listings on the stock market, especially for small and medium firms, are Continued on page 24

Nigeria, Others Urged to Embrace ‘Smart Protectionism’ Obinna Chima Following the rise of political populism characterised by the desire to assert domestic democratic sovereignty and rejection of the “cult of the expert,” policy makers in Nigeria and other developing nations, especially Africa, have been advised to pursue “smart protectionism” A former Deputy Governor of the Central Bank of Nigeria (CBN), Prof, Kingsley Moghalu stated this in an article titled: “Populism’s Rise Reshapes Global Political Risk,” published inYale Global Online.

ECONOMY Moghalu, who is a professor of international business and public policy at The Fletcher School at Tufts University, noted that for developing nations, especially those in Africa, populism’s rise in the Western world may ultimately be beneficial, despite negative short-term impacts. These countries, according to him, would be forced to confront mistaken assumptions about development that relies on the “benevolence” of foreign aid. “They must reconsider

unquestioning acceptance of the inevitability of globalisation and their status as markets, not factory. And they have already seen that efforts to model the African Union on the basis of the European Union, complete with common currency, may not be wise in light of challenges facing the EU over the past decade. African nations must embrace an inside-out perspective on economic transformation rather than the exclusively outside-in model that, in reality, robbed them of opportunity to control their destiny. “Industrialised countries, aided by technological

superiority which produced value-added goods at competitive prices and the WTO treaty regime, flooded the markets of developing countries, leaving them import-dependent. Considering that more than 50 percent of world trade is based on manufactured goods and the rude awakening offered by populism’s rise in the West, these nations should pursue the idea of “smart protectionism” – by deploying the “special and differentiated” provisions of the WTO treaty that can apply to less developed nations to preContinued on page 24

Leaders from governments, pharmaceutical companies and charitable organisations recently convened at a five-day summit in Geneva to pledge new commitments to the collective efforts to control and eliminate neglected tropical diseases (NTDs). The summit coincided with the launch of the World Health Organisation’s (WHO) Fourth Report on NTDs, that showed transformational progress against these debilitating diseases, and a commitment by the United Kingdom to more than double its funding for NTDs. The meeting came five years after the launch of the London Declaration on NTDs, a commitment by the public and private sectors to achieve the WHO goals for control, elimination and eradication of 10 NTDs. In that time, billions of treatments have been donated by pharmaceutical companies and delivered to impoverished communities in nearly 150 countries, reaching nearly a billion people in 2015. NTDs are some of the oldest and most painful diseases, afflicting the world’s poorest communities. One in six people suffer from NTDs worldwide, including more than half a billion children. NTDs disable, debilitate and perpetuate cycles of poverty, keeping children out of school, parents out of work, and dampening hope of any chance of an economic future. Also, a new report titled Integrating Neglected Tropical Diseases in Global Health and Development by the WHO revealed that more people are being reached with needed NTD interventions than ever before. In 2015, nearly a billion people received treatments donated by pharmaceutical companies for at least one NTD, representing a 36 percent increase since 2011, the year before the launch of the London Declaration.

S’Africa’s Money-laundering Law Stalled

A global group that monitors money laundering worldwide has expressed concern that a bill to fight the crime in South Africa faces “significant ongoing delays” and warned the country’s banks risked being exposed to illicit money flows that could hurt investor sentiment. The executive secretary at the Paris-based Financial Action Task Force (FATF), David Lewis, said on Monday that South Africa also risked being struck off its membership if it failed to pass the law in time for FATF’s next meeting in June. Lewis told Reuters that South Africa could be sending the wrong signal worldwide on “the financial sector about the risks of business relationships involving South Africa.” In 2009, a FATF team recommended specific actions for South Africa after identifying a number of deficiencies. They included a lack of enforceable obligations for financial institutions to identify politically exposed persons. “Effective action to mitigate the risk of corruption by politically exposed persons, as set out by the FATF Standards, is extremely important, particularly in the context of Africa, where corruption has been recognised as a problem,” Lewis said.

“We have about 13 million tax payers in Nigeria and about 12.5 million are those who have their taxes deducted through P.AYE. Are we saying all the wealth and self employed are only 500,000? That is not possible! We are going to be more aggressive on tax collection” Minister of Finance,

Kemi Adeosun

T H I S D AY • WEDNESDAY, APRIL 26, 2017

BUSINESSWORLD LISTED BANKS PAY N131BN INTO GOVERNMENT’S COFFERS AS TAX capable of boosting government revenue accruable from taxes following the requirements for improved disclosure from the NSE, SEC and other stakeholders. “The deepening of the market, by implication, will drive more businesses and indirectly generate tax revenue for government at the close of deals,” he said. The General Manager, Operations, Central Securities Clearing System Plc, Joe Mekiliuwa, said new listings on the NSE will help the federal government to generate more tax returns. He said: “Part of the transparency in the marketplace is that it is rule-driven, and being listed makes it possible for the government to have visibility in the operations of the company, as well as the general public. Listing enables the government to assess possible tax returns and monitor same.” NIGERIA, OTHERS URGED TO EMBRACE ‘SMART PROTECTIONISM’ vent the dumping of Chinese goods in their markets and create enabling environments for modest industrial growth and intra-African trade,” he opined. According to Moghalu, at 13 per cent of its total global trade, Africa’s intra-regional trade remains the lowest in the world compared to North America, Europe and other regions. While noting that for decades, political risk had been synonymous with developing countries and emerging markets in Africa, Asia and Latin America, he pointed out that the rise of populism in the Western world has redefined the notion of political risk and teaches that risk has no permanent address. He further stated that mitigating such risk requires avoiding arrogance toward those embracing populism. “Those who oppose populism must engage with it rationally in the political space with the force of their own ideas. Political populism, characterised by a desire to assert domestic democratic sovereignty and rejection of the “cult of the expert.”

NEWS

Discos Lament FG’s Botched N100bn Electricity Subsidy Chineme Okafor in Abuja

debt free financial books, and implementing a cost reflective tariff,” he said in the statement. On the transmission constraints, ANED doubted if the N50billion appropriated for TCN in the 2016 budget was released by half, adding: “This funding level is even more pitiful when, especially, measured against TCN’s estimate of $7.5 billion for its five-year expansion plan that is expected to take us to

10,000 megawatt (MW), from our current 4,500MW.” The Discos noted that they can only recover their costs of operation when they have more energy delivered by the Transmission Company of Nigeria (TCN) in areas where they have customers, as against claims that the TCN often deliver energies to areas they do not want. They further queried in the statement: “Should the Discos

have to suffer financial losses due to the limitations associated with TCN’s wheeling constraints?” ANED equally said that TCN which is still a public utility, “has remained underfunded over several decades.” It added: “Such limited or underfunding has resulted in poor transmission infrastructure and planning, with the consequences of grid instability and limited

wheeling capacity, adversely impacting the distribution and generation of electricity.” They decried the continued shortage in TCN funding, saying it impedes the Discos’ ability to distribute power and has led to crashes in power turbines of generation companies (Gencos) because of TCN’s consistent requests on Gencos to shut down their units to avoid system collapses.

The 11 electricity Distribution Companies (Discos) in Nigeria’s power sector have decried the failure of the federal government to fulfill its promise to provide a N100 billion subsidy for the power sector after its privatisation in November 2013. The Discos alleged said the government was responsible for the poor funding of the transmission section of the sector, a development, which they said has led to the huge load rejection frequently experienced. A statement on this was provided by their umbrella body – the Association of Nigerian Electricity Distributors (ANED), on Monday in Abuja. It was signed by ANED’s Director of Advocacy and Research, Mr. Sunday Oduntan. Oduntan stated that the government, which holds 40 per cent equity in the power companies had agreed to provide many intervention measures in the performance agreement the Discos signed with the Bureau of Public Enterprises (BPE) during the privatisation process. “To date, the government has not met the privatisation transaction foundational requirements of providing N100 billion in subsidies, payment of MDA L-R: Marketing Manager, Euro Global Foood and Distilleries Ltd, Mr. Devanshu Seth; Directorof Sales, Mr. Aighobahi Felix; Managing (Ministries, Departments and Director, Mr. Manish Uniyal;and Finance Controller,Mr. Kenwal Dhariwal, during the the media facility tour of the Euro Global Food and Agencies) electricity obligations, Distilleries Ltd in Ota, Ogun State ...recently etop ukutt ensuring that the Discos have

SHOWCASING OUR PRODUCTS

NCAT Acquires 20 New Trainer Aircraft John Shiklam in Kaduna The Nigerian College of Aviation Technology (NCAT), Zaria, has taken delivery of 20 new DA42NG trainer aircraft to boost training of pilots. Speaking during the delivery of the aircraft to the college by Interjet Nigeria limited on Monday in Zaria, the Minister of state for Aviation, Senator Hadi Sirika said the federal government was determined to phase out obsolete trainer aircraft at the college. He commended the college

for acquiring the aircraft, stressing that the federal government was in full support of the refleeting of trainer aircraft at the college and was committed to the aviation master plan. In his address, the Rector and Chief Executive of NCAT, Capt. Abdulsalam Mohammed, disclosed that 29 trainer aircraft in the college have become old and too expensive to fuel and maintain. According to him, the latest trainer aircraft in the fleet was bought over 15 years ago. “These aircraft used for ab-

inition training TB 9, Trinidad TB 20 GT and Beech Baron 58 are old, the earliest being purchased 15 years, and quite expensive to fuel and maintain. “In the light of this, the college initiated moves at refleeting its trainer aircraft. It is thrilling for us that we are gathered today to witness the culmination of that initiative. “NCAT is acquiring a total of of 20 of these aircraft, five multi-engine DA42 and 15 single-engine DA40 trainers. Today we are taking delivery of the first DA42 multi-engine

aircraft” the Rector said. According to him, the new trainer aircraft would significantly improve flight training and reduce operating cost, especially in the area of maintenance and fueling. “They are also equipped with glass cockpit and garmin 1000, which will make it easier for our graduating pilots to transition to new generation commercial aircraft” he said. Also in his remarks while handing over the aircraft, Chief Executive Officer, Interject Nigeria limited, Mr. Seun Peters, said,

the new aircraft were built by Diamond Aircraft Industries of Austria for NCAT in fulfilment of the federal government’s promise to phase out the old aircraft used by the college and replace them with 20 (Twenty) brand new modern DA42 and DA40 aircraft. According to him, the re-fleeting exercise is in realisation of the need to enhance the capacity of the college and save costs of purchase of aviation gasoline (avgas) and also to boost its air power capability.

Genetically Modified Food: FG Urged to Repeal Biosafety Law Adedayo Akinwale in Abuja

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)

A body under the auspices of Health of Mother Earth Foundation (HOMEF) has called for the repeal of the Act setting up the National Biosafety Management Agency (NBMA), saying that the process that led to the passage of the bill and its eventual signing into law was trailed by controversies and complaints from key stakeholders. It also called for the revocation of the permit issued to an American company, Monsanto for the introduction of Genetically Modified Food in the country, saying GM foods are not safe for consumption. The Director of HOMEF, Nnimmo Bassey made the call in Abuja, where he noted that the permit granted to Monsanto by

NBMA was issued on Sunday, May 2nd, 2016, a day government office does not open, and as it was a public holiday. Buttressing his point, he said the, “Monsanto Tribunal in The Hague has released its findings. They show starkly that Monsanto’s activities undermine basic human rights and that victims of multinational corporations need better protective regulations. The Tribunal also holds that international courts should recognise ecocide as a crime. Read the full press release from Seed Freedom.” According to him, “We are calling on the government of Nigeria to revoke the permit given to Monsanto, repeal the National Biosafety Act 2015. These are the two key demands that we are making. The NBMA Act of 2015 was signed into

law in the twilight of the administration of President Goodluck Jonathan in spite of far-reaching importance biosafety matters to the citizens of Nigeria.” Bassey added: “The process that led to the passage of the bill and its eventual signing into law was trailed by controversies and complaints from key stakeholders including farmers, consumers and civil society groups.” He expressed regret that with the coming of this Act, the issue of who regulates this critical sector has become very worrisome because public officials and agencies that should be impartial umpires to secure the safety of the people and the environment by ensuring sufficient safeguards are the persons and entities promoting

the opening of our environment to GMOs and related toxic chemicals with little regard to the precautionary principles. Bassey also emphasised that Nigerians have also expressed serious doubt about how equipped is NBMA to dabble so impetuously into GMOs approval in less than a year of its existence. “The NBMA Act has a lot of gaps and appears to have being drafted solely to set up the agency as the name itself implies. Enormous amounts of discretionary powers have been vested in the agency with not enough mandatory duties in the operational provisions to ensure that the agency perform a stewardship role to ensure that GMOs do not pose harm to human and animal health, society and environment;

“The Act does not have any clarity about how this agency is subject to oversight by the parent ministry -the Ministry of Environment. Besides the lack of illegals in the drafting of the law, some provisions do not make sense at all; and in other places references are made to incorrect sections and to non-existence sections,” Bassey noted. Continuing he stressed that the Act particularly require reworking in the following areas: Access to information, the composition of the governing board is arbitrary and populated with GMO promoter, public consultation and participation, Liability and redress, Labelling and right to know; Decision making, Appeals and reviews, conflict of interest and issues of precautionary principles.

T H I S D AY • WEDNESDAY, APRIL 26, 2017

BUSINESSWORLD

NEWS

Benin Disco Resolves 128,000 Complaints on Low Power supply, Estimated Bills Ejiofor Alike The Benin Electricity Distribution Plc (BEDC) has stated that it has resolved about 128,000 complaints since private investors took over the company, with majority of the customers’ grievances bordering on low power supply and estimated billings. The Managing Director and Chief Executive Officer of the company, Mrs. Funke Osibodu, who stated this at the recent inauguration of the company’s Asaba Customer Complaints Forum Office in Delta State, said the new office would ensure speedy resolution of electricity disputes and reinvigorate BEDC’s commitment to improve customer service standard, despite numerous challenges confronting distribution companies (discos). She listed the challenges to include: low power generation to the grid, metering gaps, transmission limitations, low payment culture and vandalism of power infrastructure, among

others. “The power sector is a value chain comprising of generation, transmission, distribution and ultimately the customer utilization. This implies a string of interdependency amongst the four tiers. Whilst the customer is king, he must pay for services rendered to him, in order to ensure that the entire value chain continues to provide good service,” said Osibodu, who was represented by the company’s Executive Director in charge of Commercial, Abu Ejoor . She added that as part of efforts at resolving complaints on estimated billing and in order to assist customer self-manage and regulate their electricity consumption, BEDC has also introduced the billing calculator format. This she explained, is for customers to estimate their potential billing from consumption, adding, “customers can thus calculate the installed electrical load in the customer’s premises in conjunction with available

power supplied to produce an estimate of likely billing and use same to cross check the billing as well as manage the use of appliances that consume heavy load.” In his welcome address, Commissioner, Consumer Affairs, NERC, Dr. Moses Arigu, affirmed that the opening of the Customer Complaints Forum office could not have come at a better time than now that customers within BEDC network were facing myriad of challenges including safety issues, disconnection of communities, estimated billing issues. Arigu observed that even though BEDC holds a 30 per cent deficit in metering yet the implementation of its meter roll out plan in accordance with the performance agreement will inject an average of about 100,000 meters annually over the next five years thus closing the metering gap within the next three years based on the roll out plan.

Ugwuanyi in Talks with Enugu Disco over N2.6bn Unpaid Electricity Bills Ejiofor Alike The Enugu Electricity Distribution Company (EEDC) has said that it held a meeting at the weekend with the Governor of Enugu State, Hon. Ifeanyi Ugwuanyi over the N2.6 billion electricity bills owed by the state government. The distribution company has also faulted a vote of no confidence passed against it by the Enugu State House of Assembly, saying that the law makers were not fully briefed on the negotiations between the State Government and EEDC before they rushed to pass the vote of no confidence on EEDC. The company argued that no private company can afford to continue to provide services on credit to a customer owing over N2.6 billion.

According to a statement by the company’s Head of Communications, Mr. Emeka Ezeh, an agreement was reached between the governor and the company on the payment of the outstanding. The statement added that part of the agreement was the immediate payment of N100 Million to EEDC and subsequent payment of N200 Million before end of April 2017. “Prior to now, a joint committee of the Enugu State Government led by the Commissioner for Works and Staff of EEDC led by the Head of Revenue Cycle Services had reconciled the State Government accounts and agreed that the State owes EEDC slightly more than N2.6Billion. However, it was also agreed that another round of reconciliation of those accounts between EEDC

and Enugu State Government will be carried out between 20th April and 4th May, 2017. Upon this final reconciliation, a payment plan will be negotiated between EEDC and the State Government,” Ezeh explained. Ezeh also pointed out that the two parties agree that EEDC will install prepaid meters in all Enugu State Government offices and secretariat. “It is important that customers realise that EEDC is a private company in a highly regulated industry that relies solely on revenue derived from electricity delivered to them. With a total outstanding debt to NBET of over N77 Billion, which includes the N2.6Billion owed by Enugu State, at 21 per cent interest rate EEDC had no choice but to disconnect some of the State Government offices.”

PTDF: Why We Scaled Down Overseas Oil and Gas Scholarships Chineme Okafor in Abuja The Petroleum Technology Development Fund (PTDF) has given reasons why it decided to scale down its scholarships to Nigerian students to study oil and gas related courses in universities abroad, stating that the academic largesse is no longer sustainable. It, however, said it would channel such scholarships to universities in Nigeria, while foreign scholarships could only be provided to students with oil and gas courses that are not found within Nigerian universities. The Executive Secretary of PTDF, Dr. Bello Gusau, said this when he hosted Vice Chancellors of federal universities in Nigeria at a meeting to discuss the Fund’s new strategic agenda, and plans for channeling its

scholarships to the universities. He explained that focus of the meeting was on how to domesticate all PTDF training and capacity building programmes, adding that there are roles Nigerian universities will have to play to make the effort successful as major stakeholders. According to Gusau, the present scholarship arrangement which is disproportionately focused on overseas scholarship scheme was no longer sustainable and therefore needs to be reversed, to allow for the bulk of PTDF’s scholarships to be domesticated in Nigerian universities. “At the moment PTDF has decided that there will be no more undergraduate overseas scholarships. All undergraduate programmes for sponsorship by PTDF will now be done in

Nigerian universities. For the post graduate programmes, the bulk of that for both the Masters and PhDs will be done in Nigerian universities. We are also open to collaboration especially through the split-site PhD programme,” Gusau explained. He also said the meeting with the Vice Chancellors was to agree on the relevant terms for the execution of the new plan, as well as gather sufficient information that will assist the Fund in the planning and implementation process. Gusau, however stated that the Fund has not completely jettisoned the overseas scholarship programmes, but will continue to sponsor few candidates overseas especially for courses that are not offered in Nigerian universities and through partnership agreements with select foreign universities.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

The Applause and Acceptance of Mediocrity

On the 19th of April, the Abuja airport opened. It had been closed for six weeks as we all know. The reason was to repair the run way. A question many of us asked then, was why it needed to have been closed for that long and why it had to be closed at all, because we know that in other jurisdictions, it would have been done more strategically, with less pain and loss of man-hours. We got used to the pain and challenges of going to Kaduna first and then undergoing a harrowing three hour journey by road or two hours by train to get to Abuja. As promised, the airport opened on the said date and everybody praised the reopening, especially because of the fact that it opened on the date officials had said it would. I found the profuse praises following the reopening very irritating. Did they not say they would open on the stipulated date? Why did we think it was such a great achievement that they opened on the date they said they would open? What was so special about the fact that they kept to the date? In my view, if they had opened before the stipulated date, then that would have been a reason for praise. In another situation, my husband travelled by Arik a few weeks ago and came back commending Arik for taking off on time on both legs of his trip. He was so glad that he did not have to spend the whole day waiting for Arik to take off. Is it not expected that airlines should leave on time and should we not take it for granted? I remember when Virgin Atlantic made us all punctual and instituted the culture across the aviation industry of ensuring that passengers got to the airport at least thirty minutes before their flights. It took a foreign airline to do this. Before then we all strolled to the airport and some even had the power to stop a plane from taking off. As a people, we have accepted mediocrity. Let’s look at other aspects of our lives where this acceptance has seeped in. Take power as an example. When we have power for two days at a stretch we start to extol and boast about how good the power situation is where we live. Or when power is restored, you hear resounding shouts in some neighbourhoods. Even yours truly, on one of my trips to South Africa, teased a few friends of mine that they do not know how to manage power cuts. I told them that “in Nigeria, when power goes, life continues. We do not depend on government or power companies, we all have generators at home and in business establishments”. All of this bragging was because I experienced a power cut on one of my trips, where everything ground to a halt because there was no power and most people were not equipped to manage such a situation. The question is, should this be deemed normal? Are we meant to power our homes and businesses ourselves? Many of us also have to provide our own water. As a normal occurrence, when planning to build your house, you have to factor in the cost of a borehole. Almost all homes have their own borehole and pumping machines. In many parts of Nigeria, communities are also building their roads by themselves. Should this be? Are these roads safe or up to standard? What about our healthcare system. People are dying due to mediocrity and poor regulation. A few months ago, my daughter fell ill. Tests said typhoid and malaria, but it lingered. We were then told to go for a scan. We were also advised on where to do the scan. We got there and the Sonographer fiddled and fidgeted under my eagle observation. I am one of those people who questions medical care being given to me and family members.

On enquiry he said, he suspected hepatitis A. You cannot begin to imagine the fear and depression we all felt, even though we knew it was not as fatal as hepatitis B or C. When we got back to the clinic, I asked for a second opinion and a referral to a gastroenterologist. When the specialist saw the report he was livid. He said it was impossible to determine nor suspect hepatitis A with a sonograph and sent us for further tests. These tests came back with negative results and cleared all suspicion. Many others would have accepted the first result and caused more damage to their bodies. Our education system is another area where we seem to have accepted mediocrity. The quality of education has deteriorated to an all-time low. Those who can afford better quality circumvent the system by sending their wards or children to private schools or abroad. Some of these private schools are poor quality and sub-standard. How long will this continue? How can we improve on the quality of half-baked students graduating from our institutions at all levels? You see people who claim to have secondary or graduate qualifications not being able to read, spell or write properly. We have all accepted it or seem to have given up. My heart is bleeding as I write this article. We need to do something we must change the approach of accepting sub-standard actions and applauding behaviours that are detrimental to the well-being of our people, culture and country. In some areas, we are dead. Sports are areas that have gone beyond mediocrity to death. When I was growing up, I knew and heard about Bendel Insurance, Rangers, IICC Shooting Stars football clubs. Today, it is Arsenal, Chelsea, Manchester United, etc. Nigeria is a nation of footballers, where football is played in every nook and cranny on holidays and weekends. But, because of the mediocrity and mismanagement of our local leagues, Nigerians have adopted foreign English Premier leagues, Bundesliga, Serie A and the likes. We all seem to have given up hope of winning the World Cup in football. Why? Is it because we do not even qualify? This is despite the fact that we have excellent football players making waves globally. Let’s not talk about how dead our prowess in boxing has become; a sport where we once excelled. I’m sure many of us are wondering whether I will mention the “big elephant projects” our politicians build and announce with fanfare on traditional and new media. A governor builds a single and sub-standard road during his tenure and it is hailed by all stakeholders. People, what is wrong with us? Almost every aspect of our lives has become mediocre. Service providers and product manufacturers know we have no standards. They will continue to treat us with utter disrespect and impunity because they know that we will “manage” when things do not go as agreed by the service level agreements and will celebrate them when they achieve the agreements in the service level agreements – banks, schools, manufacturers, telecoms, broadband, agencies of government, tailors, hairdressers, etc will continue unless we take a stand. My people, let’s start to question and reject mediocrity. Until we do this, we will continue to suffer. We have the power to make this change. Let’s do it! – 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 26, 2017

BUSINESSWORLD

INtERvIEW

Nwankwo: Bond Market was Created to Boost Private Sector The Director General of the Debt Management Office, Dr. Abraham Nwankwo spoke to Goddy Egene on the successful sourcing of $1.5 billion from the international capital markets, and how the agency is managing the country’s debt amidst the recession, among other issues The nation’s economy went into recession last year, as the debt manager of the country, how has this development affected the functions of DMO? Recession poses two broad sets of challenges to the public debt manager. The first is that recession requires the debt manager to configure an optimal strategy of new borrowing to contribute to the resourcing of the economy’s turnaround. The second is that recession invariably implies an abrupt drop in public revenue which, based on even only the existing debt stock, causes a dramatic movement of the debt-service-to-revenue ratio in the adverse direction. In essence, recession brings the problems of static and dynamic sustainability to the door-step of the public debt manager. It is believed that for the country to be out of the recession, it must spend more money, what role is DMO playing in ensuring faster recovery of the economy? DMO has been very busy structuring and raising debt resources to finance both shortterm and long-term development needs of the economy, from the public sector point of view, whilst opening the window for access and credibility for the private sector, for example by consolidating Nigeria’s presence in the Eurobond market. By successfully accessing the international capital market two times in March of 2017, the DMO removed any doubt there might have been that investment capital is keen on Nigeria. The government has been borrowing over the years but the citizens have not felt the impact, what has changed that will make Nigerians to be optimistic about the future? Borrowing and its proceeds is simply an input, an important one though, in the overall economic management of a country. Whether or not the positive impact of borrowing will materialise is largely a function of the robustness, integrity and development philosophy of the economy management process. With the Economic and Recovery Growth Plan (ERGP) which has articulated how this government will proceed to prosper the economy, we should be confident that this time around, both debt and non-debt resources will be used to generate maximum positive impact – employment, income and poverty reduction. The ERGP emphasises inclusiveness. DMO played a major role in the restructuring of states government debts in 2015, can you take us back to that issue, its impact and what the current situation of indebtedness in state governments? The restructuring of the debts owed to banks by the states was the first major salutary response to stabilise the economy following the structural collapse of the international price of oil exports. The short-term bank loans were restructured into long-term Federal Government of Nigeria Bonds (FGN Bonds). The purpose was to reduce the debt-service outflow of States and free resources for meeting other obligations. A total of 23 states and 15 banks were involved in the exercise on a loan value of N575.5 billion. Tenor was elongated to 20 years while interest rate savings ranged from three per cent to nine per cent. The debt situation of states currently reflects the reality of our economy in recession, an economy with drastically reduced public revenue, an economy that does not have diversified sources of public revenue. Nigeria (all stakeholders) has to work hard and intelligently to reverse this condition permanently in the next 3-7 years.

Nwankwo

Concerns have been raised in some quarters that Nigeria’s debt profile is getting to high and may become sustainable very soon. How would you react to this? Everything is being done to keep Nigeria’s debt sustainable. Debt sustainability is largely a function of overall economic sustainability. Therefore, a public debt manager, beyond borrowing and managing the debt portfolio, is also interested in helping to ensure that the economy is wellmanaged and is prospering. The debt manager is interested in seeing that the three major pillars of the macro-economy – the monetary, the fiscal and the structural – are performing optimally. As we reverse the economic downturn, which is the essence of the ERGP, our public debt sustainability should be getting even better. Despite the current economic headwinds, DMO was able to raise $1 billion from the international capital markets for the country, what is the significant of this successful Eurobond issuance? The significance is that the Nigerian economy and Nigerian people are resilient. The significance is that investors are confident about and are committed to working with Nigeria. The significance is that the DMO does not believe that there is any condition, under which it cannot support the Nigerian

economy – no excuses. Again, the $1 billion Eurobond was followed with another successful issuance of $500 million Eurobond. How were you able to achieve this feat. And in specific terms, what will the government use the proceeds of the funds for? If the true story of Nigeria is told candidly, transparently and confidently, investors would confirm their view that Nigeria is on the right path to economic progress. The Honourable Minister of Finance, Mrs. Kemi Adeosun delivered the narrative perfectly. The DMO team are at home with the international capital market ecology. The capital projects to which the proceeds of the Eurobond issues have been applied are clearly specified in the 2016 Appropriation Act: various infrastructure projects. The DMO has just introduced the FGN Savings Bond, what informed this decision? We want every Nigerian, including lowincome groups to participate in and benefit from the capital market. With as little as N5,000, you can invest in the FGN Savings Bond. This is in line with inclusiveness which is a guiding philosophy of President

Buhari’s economic programme. Plumbers, drivers, keke-NAPEP operators, barbers and other low-income, but hardworking and noble Nigerians can now be proud holders of debt papers (bonds) which are listed and traded on the Nigerian Stock Exchange (NSE). This opportunity used to be the preserve of banks, pension funds, other corporates and high networth individuals. Now we have democratised the opportunity. Many thanks to the NSE which suggested the product and worked together with the DMO, the CBN, the SEC, the issuing houses, the stockbrokers and other capital market operators to develop the Savings Bond. But there have been complaints that the fund raising activities of DMO is crowding out private sector. How do you respond to this? The Medium-Term Debt Strategy which has been approved by the Federal Executive Council is very clear that the strategy is for government to reduce its borrowing from the domestic market so as to leave more space for the private sector. We created the bond market principally for the private sector to have access to long-term stable capital to fund projects in the real sector. The private sector is the engine of growth. We will not crowd them out: overall, we are creating an enabling environment for their smooth and effective functioning.

T H I S D AY • WEDNESDAY, APRIL 26, 2017

BUSINESSWORLD

INTERVIEW

Olayinka: The Enabling Environment for Data Analytics Can be Created The Partner & Head, Risk Consulting and Innovation on Data Analytics, KPMG Nigeria, Mr. Olumide Olayinka, in this interview with Nume Ekeghe, spoke about the benefits of data analytics to firms and governments at all levels. Excerpts: What exactly does data analytics entail and why it is important? To a lay man, Data Analytics is a structured use of data for insight. You gain insights from data when you put it in a right prospective. It also enables you to create value either to your clients, customers or even to your business partners so you can create value. And clearly, it has its competition in this kind of environment that we are in and finally it can help you drive quality business decisions. So data brings a lot of insight into your own business and that helps you create value and make you more competitive. That is the easy way to describe it in a layman language. Data analytics is vastly utilised in other countries, can you give us a general overview of the data analytics landscape in Nigeria today? If you look at what is happening in the world today, they say 90 per cent data we have in the world today were created in the last two years. And the reason being is that we have six billion mobile phones and you know what we do daily with mobile phones are all data. So clearly, we are seeing a surge in data. We call it big data or structured data. Examples are data gotten from social media. So we are seeing a surge in data and that data can create value. Nigeria is part of that, I’m sure we have over 150 million mobile phones because a number of them have more than one mobile phone. In terms of where we are, versus the world, there is still a gap in terms of what we can do with data. For instance, government needs to help because they collect a lot of data from us and how well they use the data is being sub-optimally used or even collected. If you look at all the government agencies, if you go to collect your driver’s licence, international passport and so on. They are seating on all manners of data and they are not helping each other connect the data. In other countries, the moment they collect data for voting, they don’t need to collect data for an international passport vice versa. On the private sector side, we are seeing a lot of use of data especially in the financial service industry. I still cannot compare it with offshore but at least it they are using a lot of data to see their customer behaviour in order to provide services for them. I also see that being used to a very large extent in the telecoms industry. A lot of people are talking about digitalisation but what I see in Nigeria is a lot of strategy around it but the execution is not following the strategy. Going industry specific now, you mentioned the Nigerian banking industry; what sort of value can be derived from trusted analytics in that sector? When you look at data over a period of time, you are able to better understand a customer’s behaviour and needs and then you can either provide better service of even new products and services for them. There are lots of insight you can derive from data especially if you mine it well in a very structured way. You mentioned data analytics being vastly used in telecoms, financial institutions, what sector is yet to utilise data analytics in Nigeria? I think data is useful in all the sectors in Nigeria. I only emphasised two sectors I believe are advanced more than the others. It doesn’t mean that it is not being used in all the other sectors. But I see government backing in these sectors. Look at health for example, you have data in files, while in other

Data analytics proffers a lot of foresight and intelligence presently, are there any regulations in Nigeria today to protect against exploit? There is little or no regulation in Nigeria right now and I think there is an urgent need for that. People are using data out there and some people out there whose data are being used either appropriately or inappropriately. So I think regulation needs to quickly come now before the use gets out of hand. The use now is in its infancy but I foresee that there would be a leap frog very quickly and in 1 or 2 years, the way we use data would significantly change. Now is time to come up with regulation so people don’t miss use data especially privacy act to ensure the individuals are protected. What role can the government play in this regard? Clearly it is only the government that can set up rules and regulations. What government can do is to create an enabling environment for data analytics to grow. Also create rules to enable that people don’t misuse it. If you don’t have rules, people would take advantage. For me, I think the rules would help guide the use of data so it is not misused. We want government to enable it but some lines need to draw so people’s privacy is not abused. For example, there some countries where after you submit a data you can permit if you want your data to be used because there some data that is personal to you. What government can do is to bring awareness to the populace on how their data can be used and therefore it guides you on the type of data you can submit.

Olayinka

economies, you see such data in electronic form and therefore you can mine it and take decisions. I must say that there is a lack of regulation. I mentioned health and in other

Clearly it is only the government that can set up rules and regulations. What government can do is to create an enabling environment for data analytics to grow. Also create rules to enable that people don’t misuse it. If you don’t have rules, people would take advantage. For me, I think the rules would help guide the use of data so it is not misused. We want government to enable it but some lines need to draw so people’s privacy is not abused

How can one acquire this skill? For KPMG, we have leveraged from our colleagues offshore and therefore we have been able to build a lot of data analytics skills which is why I’m saying that we have to put it in our curriculum in our universities that countries there is privacy act. Health data can is one way of doing it. The other way is to be private to most people but you can still leverage on people who have the experience. use the data but not personalise it yourself. Also, in other countries you can get government Right now, there is no regulation or sponsorship. There was a time government comprehensive regulation that would guide was sponsoring doctors, lawyers etc. I think the use of data and I think we need to also government can also give scholarship regarding create awareness for government to bring in data science and data engineering. regulations. Being that data analytics gives foresight Data is presently being collected by and market intelligence, why wasn’t this different government agencies and banks foresight used to avert the current economic shouldn’t there be a synergy with all the downturn? If you look at the last two or three years, data being collected? The obvious answer is that it is sub-optimal with the management of foreign exchange for you to continue to capture data. We need for instance, we have data in the last two or to have central repository of data accessible three years on the steps CBN and government to all these agencies. We have a sub-optimal have taken so far. There is data out there way and therefore organisations are finding it that if we bring together we can actually difficult to authenticate information. However, in its finest moments and level of data you BVN has helped for the banking industry can see each action and the consequences and now you know the customer you are of this actions through certain parameters in the country. You can actually predict the dealing with. There has to be centralisation and I think consequences of the actions. So therefore government attempted to do it with the telecoms some with negatives and positives would SIM registration. However, I’m sure there is give insights isn’t it? Imagine having that progress but we haven’t gotten to where we information as a governor of central bank should be. So that is a big problem and it is or government that is powerful. It would also a handicap we have when you want to enable you predict that if you do X it would do data analytics for a number of companies. be positive and Y would be negative. That is the power of analytics. So do we have all the data? I think we have What are the biggest gaps you have most of the data and they take time to collect seen in this unique field? The industries are still in infancy in terms and mine it but it is possible. Sometimes, of data analytics in Nigeria. When you start you don’t have to get 100percent of data; saying gaps, the adoption rate is where we 80percent would do because you are predicting need to improve. How much data analytics probability. Yes there is power in data analytics, but do we use to make decisions today? So does this the quality of decision we make would we are sitting on the fence and nobody is putting them together. be improved by data.

T H I S D AY • WEDNESDAY, APRIL 26, 2017

BUSINESSWORLD

INSURANcE

All Eyes on Dikko, New PenCom DG

As Aliyu Dikko assumes office as the new PenCom DG, Nigerian workers and pensioners are expectant that the seasoned banker and experienced finance manager would bring his wealth of experience to bear in resolving pending issues in their overall interest, writes Ebere Nwoji As the new Director General, National Pension Commission (PenCom), Aliyu Dikko, takes over the mantle of leadership from Chinelo Anohu - Amazu, a number of tasks are awaiting his immediate actions. Some of these are - implementation of the window transfer mechanism, which contributors into the Contributory Pension Scheme ( CPS) have been yearning for, the kick off of the micro pension scheme to capture the informal sector operators into pension net and motivate them to save for old age; checkmating some employers of labour in their current negative attitude of choosing PFAs for their employees instead of allowing their employees to choose the PFAs of their choice to manage their Retirement Savings Account (RSA). Whereas the CPS law allows employees to choose out of the existing 21 PFAs, the particular manager that will manage their savings, many employers put restriction to this by listing two or three PFAs to manage their employees’ account. This has created problem for workers who changed their places of work only to discover that their fund managers are not in the list of their new employers. This is one major issue Dikko should address as he settles down to work. He is expected to ensure that due process is followed to the later in this regard. The N7 trillion pension assets is everybody’s attraction including government who has been demanding for its release to address infrastructural and other problems. Dikko, like his predecessors, should insist that the CPS investment guideline is strictly followed in the choice of portfolio of investment for the fund. The micro pension scheme, which guidelines have been drafted by the previous administration in PenCom, according to the sector operators is expected to increase the number of contributors into the scheme from the current six million to 20 million. Contributors into CPS, have for the past 13 years the CPS was introduced, awaited the commencement of the window transfer mechanism which will allow them to migrate from one PFA to another but to no effect. Reason often put forward by both PenCom and PFAs for the delay is biometric problem. This has restricted contributors’ movement from one PFA to another as enshrined in the CPS law. This is so despite that one of the demands of modern day business is customer satisfaction and freedom by customers to pinch their tents with service providers who are ready to meet their demands and provide them with the desired quality of service. While consumers of other goods and services have exercised their rights in this regard, those of the pension fund management services have been denied this freedom because of non implementation of the window transfer mechanism. What this means is that each contributor into CPS, has been confined to a single service provider for 13 years irrespective of quality of service. Section 13 of the 2014 Pension Act, gives express approval to contributors into the scheme to once in a year migrate from one PFA to another if they so wish. But since the commencement of the scheme in 2004, contributors have been agitating to be allowed to exercise this right but the regulator and the operators have continued to delay this despite several promises on its commencement by past administrations in PenCom. The window transfer is a mechanism that allows a contributor into the RSA to choose a new PFA if he or she is dissatisfied with the services of his or her former PFA. Agitations for its commencement by workers dates back to the regime of pioneer Director

Dikko, newly appointed PenCom DG

General of PenCom, Muhammad Ahmad, who had in 2012, promised that contributors who were not satisfied with the performance of their PFAs especially in the area of management of their contributed funds, would by December that year, be provided with the opportunity to transfer their funds to a new PFA of their choice through the window transfer . Ahmad, then, gave impression that the commission had put all the necessary arrangements in place to ensure a seamless exercise. When the exercise failed to kick off, enquiries into why it failed, revealed that the commission had some biometric issues it needed to sort out to ensure a perfect exercise. According to findings, although the commission, in 2011 said that it had drafted the regulation that will guide the exercise , both the commission and the PFAs were yet to put finishing touches to all the issues that will lead to smooth exercise. In September 2015,PenCom promised to release the guideline for the take off of the window transfer adding that it had cleaned the corrupt RSA data base and done with the biometrics of RSA holders, but till date, the exercise is yet to take off. From the operators side, immediate past chairman Pension Operators Association of Nigeria ( PenOp) Misbahu Yola, said both PenCom and the sector operators have been working hard to clean contributors’ data from multiple registration problem. Though Yola had promised that the exercise would have been completed by October that year, nothing has happened since then as its officials still cited biometric issue as the cause of the delay. Managing Director, Leadway Pensions, Mr. Ronke Adedeji said though the window transfer

has not kicked off, a lot of work has been done on that and a lot still need to be done. “The transfer window is quite a complex exercise, on the face, it always appears very simple. People always say, ‘I want to change my PFA and move from A to B,’ but its complex from the perspective that when you are moving an account from one PFA to another, certain processes need to take place and the major one is the identification process. We want to make sure that when you are transferring account from one entity to the other, you are transferring correctly and that you are not transferring somebody else’s account simply because they have common names. According to her, the window transfer to take off, a major criterion is biometrics. One had thought that the BVN exercise carried out by banks, would have facilitated the exercise as it would have gone a long way to help the sector solve the data bank problem but this has not happened. While the PFAs, battle with the biometrics issue 13 years into the CPS regime, contributors into the scheme said the delay has spelt untold hardship on them. Some workers said the situation is now denying them the chances of having their deducted money and those contributed by their employers remitted into their RSA. According to some contributors who are victims of this, the problem, is worst with private sector contributors who left their former employers to secure jobs with another employers only to discover that the names of the PFA they were using while in their former employment were not in the list of PFAs chosen by their present employer. For such contributors, the problem is that the present employer, cannot accept the Personal

Identification Number (PIN) of their former PFA to commence the remittance of their money to their account since it is not in their new employers’ list. Under this circumstance, the option left for the contributors would have been to open new accounts with new PFAs in the list of their new employers but PenCom, cannot issue two PINs to a single contributor. What this means is that the deducted money from such contributors’ salaries, will remain with the employer until the PenCom’s transfer window kicks off. On its part, penCom,sometime ago explained that one of the reasons the transfer window has not taken off is that it is yet to conclude works on the supporting Information and Technology (IT) applications of the transfer window which will enable pension contributors change their administrators. Head, Research and Corporate Strategy PenCom, Dr. Farouk Aminu, said the commission is still working on the transfer window issues. He noted that the framework has been issued to operators for implementation, adding that however, work is still ongoing on the supporting information and technology application that would drive the initiative. Presently, it is not certain whether the commission has finished working on the application or not. To ensure seamless operation of the initiative, penCom some years back, mandated PFAs and Pension Fund Custodians (PFCs) to deploy IT infrastructure for the transfer process. It noted that such IT infrastructure must have adequate storage and retrieval capability for a period of 10 years. While PenCom and PFAs are taking this long time in their preparation for the exercise, industry watchers said the commission seems not to be concerned about the plight of the contributors especially as some workers’ contributions are no longer being remitted into their account mainly because of issue of change of job and their new employers’ choice of PFAs different from those former employers were using. Currently, the number of contributors into the scheme is about seven million. There are fears that when the micro pension scheme comes on stream, the number of contributors will double and the complexity of addressing the biometrics issue will increase. Therefore the earlier the commission and the operators address whatever problems delaying the take off of the window transfer, the better. With Dikko coming into PenCom, hopes are high that with his years of experience in banking industry and pension where he served last before his appointment , he will fast track the commencement of the transfer so that contributors’ demand to change from one PFA to another will be met. From the background he is coming from, he has all it takes to do this. Dikko was the pioneer Managing Director/ Chief Executive Officer of Premium Pension Limited (PPL) and later became its chairman, a position he held till his recent appointment. Before becoming the MD/CEO of PPL, Dikko was the Chief Executive Officer of United Bank for Africa Plc (UBA) until May 10th 2005. While at UBA, Dikko, was rated among the top 20 CEOs in Nigeria by the Vanguard Newspaper in 2004. He was also rated by the News Magazine as one of the top 50 acclaimed business titans in 2004. He was also one of Business Day newspaper’s 20 CEO’s with high integrity. He was the Chairman of the Board of UBA Capital and Trust Ltd and UBA Securities Ltd. He was also the Executive Director Treasury and Consumer Banking, Commercial and Investment Banking and the Deputy Managing Director before he was appointed the Managing Director and CEO of the bank. He started his banking career with Icon Ltd (Merchant Bankers), a former affiliate of the USA based Morgan Guaranty Trust.

T H I S D AY • WEDNESDAY, APRIL 26, 2017

BUSINESSWORLD

PERSPECTIVE

FG Savings Bond: Opening up the Capital Market to Ordinary Nigerians Abimbola Johnson hails the floating of the FG Savings Bond in the Nigeria’s capital market, noting that the initiative is a new avenue for investment by retail investors If you are an ordinary Nigerian looking for where to invest your little savings, just approach any stock broker in the country and ask whether they are authorised to sell the Federal Government Savings Bond (FGNSB). If you get a Yes answer, tell them you’re interested in investing your little cash-as little as N5,000 and you’ve become an investor and a player in the capital market. It is that simple and fast. That is the magic of the new initiative of the Debt Management Office, DMO, called the FGNSB. It is a new way to invest for the ordinary Nigerians and small scale investors who may be excluded from operations at Nigeria’s Capital Market. Retail investors looking to invest in the FGN Savings Bond only need a minimum of N5,000 to invest. Subsequent investment over N5, 000 will be in multiples of N1,000. Meaning that you cannot invest N5,500 or N12,700. It’s either N6, 000 or N13,000 or N30,000. The maximum amount a single retail investor can invest in the FGN Bond is N50m. The bonds were rolled out on March 13 and for the first time, the popular common man in Nigeria got the opportunity to become an investor; a player in the country’s capital market. Over 75 percent of the bonds traded were from small investors who would have either kept their little cash in the bank where returns will be zero or at best insignificant, or use them to purchase some items to avoid wasteful spending. An elated Abraham Nwankwo, Director General of DMO, whose office midwifed the deal, said: “The FGN 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. “ He said about 2.067 billion units were allotted to 2,575 people, stressing that the bond is for the retail investors and is being issued to ensure that all Nigerians participate. The bonds will be issued monthly and it would run for five offer days. At 13 percent coupon, a small investor could not wish for a better deal; it is far above what a bank deposit of equal amount would guarantee. Moreover, the interest would come every quarter to all investors. The government is issuing the savings bonds targeted at ordinary Nigerians of all income groups, giving them the opportunity to earn an income through saving and investing. Apart from personal benefits to investors, the bond is also expected to help promote the savings culture of Nigerians, many of who don’t save in banks because of very low-interest rates. Unlike bank deposits, the bond earns you an interest that will be paid quarterly directly into your bank account. The bond is safe and is backed by the full faith and credit of the federal government. Government bonds hardly default, so you are nearly 100 per cent sure that you will get your money back in full along with the interest. This bond is not just for the rich or comfortable, it is available for the low income also. With as little as N5,000 you can invest in the bond. In a country where citizens love festivities and elaborate celebrations, the savings bond is a prudent way to save towards marriage, funerals, holidays, school, project, retirement and others. The bond can also be used as collateral to get a loan from a bank. The bonds have a tenor of two and three years respectively, and that means you can either invest in a

Nigerian Stock Exchange trading floor

Chief Executive Officer of the Nigerian Stock Exchange, Oscar Onyema.jpg

savings bond with duration of two years or one with duration of three years. The interest rates are determined by the DMO, and they will be paid quarterly into your bank accounts while the principal will be paid at maturity, depending on the tenor of your bond. The FG Savings Bond is quite innovative in the way it makes the capital market all-inclusive. It is a unique and fascinating way to deepen the capital market in a way that it caters to all segment of society and makes everyone a

stakeholder in the economy. Commenting on the listing of the bond, Executive Director, Capital Markets, NSE, Haruna Jalo-Waziri said the Exchange was elated to list the bond, which he called an “innovative investment offering” that caters to the retail segment of the Nigerian capital market. He said the take-off of the bond “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.”

Moreover, the FG Savings Bond will go a long way in creating better awareness of Nigeria’s capital capital. Nigeria’s capital market has suffered from the financial literacy of potential domestic investors and closing that gap has been a special project of the Central Bank of Nigeria, CBN, the Nigerian Stock Exchange, the Security and Exchange Commission, SEC and other stakeholders. The FG Savings Bond, because it is targeted at retail investors, has the potential to deepen the level of awareness about the Nigerian capital market. Yakubu Dogara, Speaker House of Representatives is one political leader who must be impressed by the FGN Savings Bond. Dogara had for long lamented a situation where a large chunk of the nation’s resources or capital is heavily concentrated in the hands of few chief executive officers. His grouse is that such skewed situation would widen the inequality gap, eliminate the middle class and plunge more people into abject poverty, thereby posing serious threat to the sustenance and survival of democracy. The Speaker had, at different fora, made it clear that the skewed distribution of wealth is even more worrisome because the flow of resources from Nigerian citizens to multinational companies operating in the country makes them rich. “Unfortunately, these same companies, rather than invest in the NSE and grow the economy of Nigeria, would rather repatriate their profits 100 percent to their own countries without investing a dime back to the system,” he said. Thus, the savings bond is government’s way of affirming its faith in the capital market, and at the same time widening access to the market, while deepening the savings culture of all Nigerians. - Johnson wrote in from Abuja

T H I S D AY • WEDNESDAY, APRIL 26, 2017

BUSINESSWORLD

INSURANCE

Stanbic IBTC Insurance Brokers Supports FG’s Financial Literacy Campaign Stories by Ebere Nwoji Stanbic IBTC Insurance Brokers, has thrown its support behind the financial literacy campaign and financial inclusion strategy of the federal government through promotion of micro insurance to Nigerians at the grass root. The company, which said it plans to deploy trust-building measures that would plug major gaps in the insurance value chain in Nigeria, assured that unlike its contemporaries that mainly focus on corporate entities in their insurance sales efforts, it will extend its services to all strata of society to provide financial sheds to the underserved members of the society as practically everyone is subject to loss and uncertainty. Stanbic IBTC Insurance Brokers’ Chief Executive Officer, Anselem Igbo, speaking during a media interactive forum organised by the company in Lagos, said part of the company’s goal, was to introduce micro-

insurance products targeted at the informal sector in order to expand coverage of more Nigerians. “In addition, rather than focus exclusively on corporates, as currently obtains, the company will extend its services to all strata of society as practically everyone is subject to loss and uncertainty.” Igbo said this has become necessary because given the low level of trust in the industry, strategic steps are required to restore public confidence and put the sector on a stronger footing. He identified some of the perceived gaps in the industry to include inadequate support to clients to help them effectively manage their risks and the claims management process. He noted that through effective risk transfer mechanisms, seamless insurance cover payment and impeccable quality of service, the customer, will have peace of mind, and subsequently provide the testament required to

convince the insuring public to embrace insurance and deepen participation. This, according to him, will in turn empower the industry to play its catalytic role in economic development by mobilising savings for investment, mitigating loss, ensuring financial stability and promoting trade and commerce. “Public trust and integrity are the bedrock of the insurance business. By applying global best practice and corporate governance, what will result is transparency and openness, which are instrumental in building trust,” Igbo stated. According to him, global best practice, including facilitating prompt payment of claims, will underline the operations of Stanbic IBTC Insurance Brokers Ltd as it aims to become one of the top five insurance brokerage firms in Nigeria in the next 10 years. He said Stanbic IBTC Insurance

Brokers, which commenced full operations in February 2016 following the granting of a licence by the National Insurance Commission (NAICOM), paving the way for the firm to offer the full spectrum of insurance brokerage services in Nigeria has as part of its goal, introduction of micro-insurance products targeted at the informal sector in order to expand coverage of more Nigerians. “We believe that the test of any insurance arrangement is in prosecuting claims to a satisfactory conclusion for our clients. Our role as brokers also ensures that insurers, as a matter of obligation, pay claims equitably and promptly. Prompt payment of claims is a key factor in any insurance contract. We continuously develop key relationships and requisite logistical processes to ensure that claims are promptly settled, he said.” With big advantage of belonging to a strong, dynamic and vast

group structure, Igbo said the company will be differentiated from the competition as it will be driven by a team of reputable and financially strong underwriters; fully customised solutions, and innovative insurance products at no additional cost to the client. He informed that “Stanbic IBTC Insurance Brokers’ professional services are at no additional cost, adding “We will negotiate your insurance premiums and get the best quotes available. We will not be content to rest on our oars but will consistently seek ways of making incremental improvements to our operations and the industry,” Igbo said. He added that in an industry inundated by a persistent lack of trust and confidence from customers, the reputation of an insurer in Nigeria is critical to its success. He said he is proud that the brand strength of the Standard Bank Group, to which Stanbic IBTC Holdings belongs, echoes

stability, financial strength, expertise and reliability. He expressed his belief that customers who truly want to protect the people they love will put their trust in the reliability the company offers. “We will work tirelessly to provide the best solutions and service to our clients. We are motivated and determined to continue to deliver innovative and optimal insurance and risk management solutions to our clients.” Stanbic IBTC Insurance Brokers Limited is a subsidiary of Stanbic IBTC Holdings Plc, a member of Standard Bank Group, a full-service financial services group with a clear focus on three main business pillars - Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Standard Bank Group, to which Stanbic IBTC Holdings belongs, is the largest African bank by assets and market capitalisation.

AIICO Insurance Storms Lagos Markets with New Services AIICO Insurance Plc has embarked on aggressive marketing strategy that has seen it taking insurance products to the small retail shops and traders in major markets in Lagos. The company, is currently doing this under what it tagged ‘Market Storm’ with a team of trained retail insurance marketers. The initiative was aimed at educating the traders in the market on the strategic role of insurance and its numerous benefits. The plan was aimed at bringing insurance closer to the market men and women who are involved in retail and micro businesses through the provision of tailored insurance services that suit their needs. The programme also gives room for market feedback that can be used for further products development by the company. AIICO, recently stormed Tejuosho market with the initiative, which offers basic retail products to the market traders that guards against business and personal risks. During the adventure, the company, has in its kitty, products such as AIICO Fire Insurance policy tailored for Shop Owners, AIICO Shield Personal Accident Insurance, AIICO Householder (Home) Insurance and AIICO Auto Insurance. The company, during the adventure, reminded the traders that despite the fact that no one plans to lose his means of livelihood to fire, flood or any form of natural disaster, these occurrences, happen daily, resulting in loss of financial investments, revenue, closure of business, shock and grieve, inability to start business again. Leader of the team, Taofeek Ayeni, representing the non- life retail team of AIICO, told the traders that AIICO Fire Insur-

ance for Shop Owners provides compensation up to the tune of N2million in the event of stocks, materials and/or wares in traders’ shop being affected by fire. He said benefits include compensation for fire & special perils, permanent disability, medical expenses & public liability. Ayeni, said AIICO Shield Personal Accident Insurance, is designed to provide insured accident victim with access to some level of compensations for death, disability and medical treatment for injuries following accident. He said the benefits include compensation for death, temporary and permanent disability & medical expenses. There is also AIICO Householder (Home) Insurance designed essentially for those living in rented apartment to cover their contents only against loss as a result of fire & special peril and burglary. The benefits include compensation to the tune of N2million for fire damage, N1million for burglary, rent for alternative accommodation, public liability, permanent disability, death, & medical expense as a result of the incidence. AIICO Auto Insurance, he said, is designed with flexibility to sooth the pocket of an insured and guarantees cover for accidental damage, theft, third party property damage, bodily injury and death, medical expenses, He said the product comes in the variants; such as Auto Regular, Auto Basic, Auto Classic, Auto Deluxe & Auto Royale. Ayeni, said AIICO, has targeted to take the above products to 20 markets in Lagos and that the company at Tejuosho market has targeted 60 percent of the traders buying the company’s products.

HEALTH IS WEALTH

L-R: Non-Executive Director, Orange Island, Mr. George Nwachukwu; Group Head, Oil & Gas Group, Keystone Bank Limited, Mrs. Nnenna Kayode-Lawal and Treasurer Lagos State Chamber of Commerce & Industry (LCCI), Mr. Gabriel Idahosa at the Inauguration Ceremony/ First Business Clinic of the LCCI group...recently

IT Firm Launches Insurance Marketing Portal Pinet Informatics Limited, an information technology company based in Lagos, has unveiled an insurance trading portal where insurance products can be bought and sold online. The company, said it launched the portal because of realisation of the fact that increase in mobile phone, will help to deepen insurance penetration across the country even in interior part of the country where you don’t have insurance companies or brokers. Managing Director, Pinet Informatics Limited, Lanre Ajayi, described the insurance portal, insurancemarket.ng as user friendly even for the not too literate individual. He noted that several insurance brokers have embrace the market trading portal due to its ability to

cut down their operational cost while at the same time making it easy for the insured to build confidence on the industry. Commenting on the market portal, Managing Director, Brightway Insurance Brokers Limited, Mrs. Nike Braimoh, said she is hopeful that the portal would help to bring insurance products to many Nigerians, particularly those in the remote areas of the country. According to her, many Nigerians don’t know about insurance and how insurance product can help them solve some financial problems in their lives saying that insurance policies have a way of helping to solve some future problems. Braimoh, while hailing the launch of the portal by Pinet Informatics Limited, noted

that increase in mobile phone will help to deepen insurance penetration across the country even in interior part of the country where you don’t have insurance companies or brokers. She stated that with the insurance market portal, many Nigerians can now have several polices by accessing the internet through their mobile phones noting that there are some literate Nigerians who know the importance of insurance but have no access to insurance services. “So with the click of a button on the Insurance market portal, they can now have access to any insurance policy of their choice.” On the value, the insurance market trading portal will bring to the industry, she said it will make it easy to buy insurance policy adding that it will give

customers satisfaction because of its user friendly nature. Also commenting on the portal, Chairman, Nigeria Insurance Association (NIA), Mr. Eddie Efekoha observed that a large number of young people are not yet among insurance policy buyers. He expressed satisfaction at the launch of the portal adding that it will revolutionise the insurance industry in Nigeria, just as technology has done to the banking industry. According to him, digital transformation has given customers the impetus to make contributions towards insurance products being released in the market; and will go a long way in automation, fraud detection and customer satisfaction.

T H I S D AY • WEDNESDAY, APRIL 26, 2017

BUSINESSWORLD

NEWS

Report: 600,000 Nigerian Farmers Financially Included in 2016 Dry Season Crusoe Osagie Cellulant has launched a report highlighting the impact of technology in transforming agriculture across Africa particularly with the “Growth Enhancement Support Scheme (GES) Dry Season, 2016.” The report highlighted key progress on food security and financial inclusion for farmers across 30 states in Nigeria. The programme, which set out to service 500,000 farmer-households in four

value chains, accomplished 92 per cent of the targeted subsidised service, but as a result on-boarded an additional 200,000 farmers into a financial support platform. 400 Agribusinesses and more than 1000 jobs were created as a result of the programme. The report also highlighted the effects of technology on agriculture as well as projections for the industry. Since 2011, by the use of technology, governments have

been able to eliminate corruption, promote transparency and transform the Agricultural sector; In Nigeria where there is a clear disconnect between Broad Street (Financial sector) and Main Street (our inner cities and rural areas), interventions like GES become very important when it comes to the creation of real growth in the economy; With the dry season program impacting more than 350,000 farmers, enough food will be produced to feed roughly 120M Nigerians for two months; In

2017, private sectors and financial partners will begin to test pilot the injection of loans into the system; Messer Cellulant, has arranged the consortium of financial sector actors who have agreed to deploy a loan book portfolio of $100 million into smallholder farmers’ micro loans. The goal is to achieve 1,736,445 farmers borrowing between June 2017, to July, 2018. This transformation was made possible by the Agrikore

platform also known as the “e-wallet” platform. Agrikore was developed by Cellulant for Nigeria in 2012. The Agrikore platform at its core, provides the tools for the creation of a structured agribusiness economy (agriconomy). The platform provides value for users which includes ensuring a start to end management of interventions (schemes), providing visibility of the cashflow movements within the schemes, enabling the management of accounts, executing payment

and reconciliation processes, as well as enabling start and end to end management of services, products catalogue and inventories. Liberia is the first country outside of Nigeria to have adopted and implemented the Agrikore platform and all its elements fully. Other countries such as Togo and Malawi are in advanced stages of replicating this system. Governments from the Middle East have also indicated interest in the implementation of the platform.

IITA Cassava Weed Management Project Trains 105 in Abia Crusoe Osagie The International Institute of Tropical Agriculture- led Cassava Weed Management Project has trained 105 spray service providers on herbicides application, safety and use in Abia state. The training, which came at the onset of cassava planting season, was conducted in partnership with the National Root Crops Research Institute, Umudike; National Agency for Food and Drug Administration and Control (NAFDAC); and the Abia State Agricultural Development Programme. The two-day training, which was implemented in two locations— Umuahia and Isuikwuato LGA — covered areas such as the different types of weed species, herbicides, and tips on application, calibration, and safety. A practical session on calibration was conducted to help participants understand the principles and importance of calibration. The Programme Manager, Abia ADP, Mr. Bato Onyemaobi said the training aligned with the state government’s agricultural development programme.

He described improved weed control as a critical component of cassava production, adding that without good weed control farmers won’t be able to make profit from farming. Chairman of Isuikwuato Local Government Area, Mr. Nnamdi Udueze also commended the IITA Cassava Weed Management Project for organising the training, and pledged to work with the team in his domain. Located in South East Nigeria, Abia state like other states in Nigeria has embarked on economic diversification with more attention to agricultural development. Principal Investigator of the IITA Cassava Weed Management Project, Prof Friday Ekeleme said on Thursday that the training was aimed at empowering farmers with the skills to control weeds while at the same time protecting themselves and the Ekeleme noted that Abia farmers would benefit tremendously from agriculture with improved weed management, adding that “the objective of the IITA Cassava Weed Management Project is to address the drudgery caused by the use of short handled hoe.”

Air Peace Boss Seeks Govt Protection against Invasion of Foreign Airlines Chinedu Eze The Chairman of Nigeria’s major carrier, Air Peace, Chief Allen Onyema has urged the federal government to adopt the principle of reciprocity in giving out frequencies to foreign airlines. Onyema noted that many host countries of foreign airlines that operate into Nigeria do not allow Nigerian airlines to operate into their countries despite the support and acceptability given to them by the Nigerian government. He therefore wants Nigeria to approve the requests of foreign airlines which host countries are also willing to give approval for Nigerian airlines to operate into their countries, noting that this is the principle of reciprocity that

guides international diplomacy. Speaking during a press conference on Monday in Lagos, Onyema noted that the hostile attitude of these countries is largely observed in Africa. “Nigeria has the right to fly into African countries but we are only doing Ghana presently. Those other countries never wanted to answer our emails. We had to send people there. We went to them pleading; but they see Air Peace and other Nigerian airlines as a threat. “Senegal has not been here, since two years we requested to operate to Dakar, to come and see our facilities to approve us to come. We have written them but they have refused. We have provided everything they wanted.

STOP THIS ENVIRONMENTAL DEGRADATION

NGO and Ogulagha community protesting against environmental degradation in Niger Delta to mark World Earth Day last Saturday

Dangote will Be Largest Exporter of Rice in Five years, Says Adesina Crusoe Osagie The President of the African Development Bank (AfDB), Akinwumi Adesina, has said the Dangote Group, may become the largest exporter of rice in the world by 2021. Speaking at the Mo Ibrahim Forum in Morocco, Adesina said Africa must focus on agriculture to drive growth and create jobs on the continent. “I remember when I was minister of Agriculture in Nigeria, Aliko Dangote was there and he was our biggest importer at the time and he and I used to have all the time to dialogue,” Adesina said. “One day, I was in my office, about 10 O’clock, Aliko walks in, Ngozi was minister of finance. Aliko bangs on my door and said ‘minister I came to see you’, and I said ‘what are we going to disagree on this time?’ “He said no, I have actually looked at the policies, and the

policies you put in place for import substitution are very right policies. So, I have changed my business model from being an importer to being a local producer.” Adesina narrated the role Dangote played in his happiest day as a minister in Nigeria. “I said what exactly are you going to do. He said I will put $300 million into producing and processing rice in Nigeria. I said yippee! I went home, I told my wife, my best day as minister,” he said. “He comes back three months after that, he says I have changed my mind, I said ‘what in the world happened?’ He said no, I have changed my mind from $300 million to a billion dollars. “If they continue that policy, he would probably be the single largest producer of rice in the world, in about four years. The reason why I was so excited about that is that agriculture is cool, agriculture is a business… agriculture pays.”

Adesina was named Forbes Africa Person of the Year 2013, while Dangote won the same award in 2014. It would be recalled that a tripartite agreement put together by the Dangote Rice limited to create jobs for 16,000 outgrower rice farmers in Sokoto was recently signed with the Sokoto State government and rice growers in the country after which he launched the rice outgrowers scheme in Sokoto. Aliko Dangote , the Chairman of Dangote Rice Limited, Asaid he was moved to go into rice cultivation because of the genuine interest of the Federal government to revive agriculture as the mainstay of the economy, and reduce importation of foods that could be produced locally. He lamented that Nigeria consumes 6.5 Mtn of rice which costs the nation over 2 billion dollars annually pointing out that it is heartening that the

government now has policy direction that encourages private sector’s active participation in agriculture. He disclosed then that “In the next three years we want to produce one million tons of quality rice and make it available and affordable to the people. We hope to do 150, 000 ha and when we are done, Nigeria will not have anything to do with importation of rice. “Dangote Rice outgrowers scheme is committed to creating significan t number of jobs, increasing the incomes of smallholders farmers and ensuring food security in the country by providing high quality seeds, fertilizers and agro-chemicals as well as technical assistance on best agricultural practice to farmers. “This Scheme will help to diversify the economy, alleviate poverty and reduce the nation’s import bill. The scheme has been designed as a one stop solution for the rice value chain,” Dangote stated.

T H I S D AY • WEDNESDAY, APRIL 26, 2017

EDUCATION

JAMB UTME: Policy, System Should be Reviewed

As the Joint Admissions and Matriculation Board (JAMB) prepares to administer its Unified Tertiary Matriculation Examination (UTME) in May, University Dons who have been monitoring the development, said despite the challenges confronting the board, it should review its current policy to enable candidates surmount the problems, improve on its system, while calling for support from Nigerians. Funmi Ogundare reports The Joint Admission and Matriculation Board (JAMB), has always been enmeshed in controversies over its activities in the last few years, the controversies are getting louder this year, with the registration process which brought untold hardship to candidates; and the delayed cancellation of the mock Computer Based Test(CBT) for the 2016/17 matriculation examinations. As a result, the Board had to extend the registration date for the 2017 UTME and also extended the deadline for sale of forms and registration for the exams from the earlier announced April 19 to May 5. The exams body also postponed the 2017 UMTE from May 13 to May 20, attributing the postponement of the mock to the failure from its technical partners. The Registrar of the Board, Is-haq Oloyede, consequently, apologised to candidates for the sudden changes, saying, “we could not go on with the mock examination and hereby announce extension of the registration exercise of the 2017 UTME. This is because the appropriate rehearsal and test-running of the new system has been substantially achieved. The plan was to trial-test the readiness of our facilities and address the challenges that may likely confront the main examination. “At this moment, we have realised that the plan to hold this mock examination was good for us. We are now in a better position to achieve better than we would have done without this trial testing. This is why the exercise is at no cost to the candidates. “It is our strong conviction that this exercise is an experience for us. Our systems analysis has revealed interesting findings that will engender a seamless and successful 2017 UTME exercise.” These may not have gone down well with some sections of the society as they called for the scrapping of the board or that its functions should be modified drastically. According to reports, “a key problem behind JAMB’s failure is the unnecessary centralisation of the admission process, which puts much more pressure on the board than it could cope with. Ever since it was created in 1978 and subsequently, given sweeping powers by Decree No. 33 of 1989 to conduct the matriculation exams and also process the admission of students into the tertiary institutions, it has been struggling to cope with this mandate. It is now time to devolve many of those functions to the respective institutions or scrap it altogether. Some other analysts have asked the Registrar of the Board, Professor Ishaq Oloyede to voluntarily resign his position for the lopsided nature of the ongoing JAMB registration. The Chairman, Academic Staff Union of Universities, (ASUU) University of Ibadan Chapter, Dr. Deji Omole had described the registration problems being experienced by candidates as major set-back and may jeopardise the ambition of candidates who are interested in higher education, while calling on the Minister of Education, Malam Adamu Adamu to call the Registrar to order not to make life difficult for the children of the masses who yearn for quality public education. According to Omole, the cumbersome registration procedure introduced by the JAMB registrar has succeeded in wasting the time the candidates were supposed to be using to read at fraudulent registration centers. He reiterated the call of the union for the scrapping of JAMB, and that universities must

UTME candidates in a CBT centre

be allowed to design its standard examination for its own candidates. Despite the criticism being thrown at it, however, the Spokesperson of the Board, Dr. Fabian Benjamin told THISDAY in a telephone conversation that, “what Professor Oloyede has done is to improve on what has been on ground. We need everybody’s support to change the narrative of education in Nigeria. The Registrar of the board believes that the N5000 we are charging for the registration is too high. He wants a situation whereby we can do exams with less than N5000 and save money for government to use for other services, including internet capacity.” Emphasising on the problems candidates face at the points of registration, he said, “from the study we have conducted , we discovered that the more time we give to candidates, the more likelihood we are going to extend. Last year, we only used three banks for registration, but this year, we insisted we were going to use all the banks as well as Interswitch and we were using over 600 centres this year, and for each centre we insisted that we must have open distribution points of about 100 . “In Lagos, for instance, we have 59 centres , so if you have 100 distribution points , that would translate to about 7000 distribution points. This means that at any point in time, you should be able to register 7000 candidates at a go. Why are we having crowd? That is the challenge everybody is talking about. “The crowd we are having is because at the first week of registration, a lot of banks that were supposed to get this PIN, didn’t start on time and the pressure mounted . Is this enough reason why Nigerians are saying we should jettison what we were doing?” Reacting to the issue of profile creation by the candidates, Benjamin said, “If we look at the registration, we said candidates should create a profile and do registration, we had to capture 10 fingers because we discovered that candidates will register three or four times using different fingers at the point of biometrics then they will write the examination at different locations and choose the one they score a high mark in. “Somebody once complained that he registered in Lagos and was posted elsewhere. If you check our website, you will see the traffic of candidates

doing one type of correction or the other. We want to ensure that in 2017; candidates don’t come to our office to do this correction.” On the readiness of the board for the UTME, the Spokesperson said, “ we are ready and we are going to do mock before the exams, we are yet to arrive at the date. It’s not as if we could not do the mock, but we discovered that a particular section of the country couldn’t get it right. So we reasoned that if they couldn’t get it right, then we should put it on hold. The mock exams were meant to test our facilities to see how ready we are.” Benjamin confirmed that five persons were arrested by the Nigerian Security and Civil Defence Corps for various registration infractions, saying that they were brought from Oyo, Ogun and Ogun to Abuja where they confessed to their misdeeds. According to him, “JAMB had given access code only to accredited CBT centres to partake in the registration exercise, but these operators in turn used the privilege information at their disposal in connivance with Honey comb centre and Bright international for percuniary motives, and creating confusion for the board, as procedures, guidelines and standards were compromised. He said unknown to the fraudsters, the access codes are personalised coupled with features to detect abuses aimed at circumventing the registration process. “They fraudulently tried to manipulate the system to give a semblance of the Board’s platform to deceive candidates as if a valid registration have been carried out. The suspects deployed fake biometric capturing mechanisms and super-imposed registration slip just to satisfy the curiousity of innocent candidates that their registration was successful and on the day of the examination, such candidate’s data would either be edited, or not found on the data base, such candidates would not be verified during the examination proper.” Benjamin noted that the board wants to ensure that candidates don’t suffer subsequently when they get to tertiary institutions saying, “if they don’t do it now, they will start running up and down correcting one information or another. These are the challenges we want to address now. So we require the support of Nigerians

for us to take education from where we are now, to the next level.” Inspite of the challenges the Board is confronted with, some university dons avered that the board should be given time to deliver with the reforms being carried out and that it should also review its current policy to enable candidates surmount the problems. A lecturer in the department of Mass Communication, Dr. Tunde Akanni said, “I dare say JAMB is ambitious with its strides which inevitably are accompanied by some challenges . As an academic, who uses available facts to undertake assessment, I personally believe that JAMB needs to be given sometime to deliver with the reforms being carried out. This year, within four weeks, no fewer than 1.4 million candidates had managed to register in spite of the orchestrated problems. ” “As for the mock exams, JAMB declared it free and no one feels like commending that. The man who pioneered CBT exams at UNILORIN ahead of JAMB, wants to take it to zero malpractice, no applause still.” Some centres still collected money against the rule. What other forms of sabotage will such daredevil not contemplate to survive now that there is no scratch cards to misappropriate in collusion with corrupt JAMB staff? Akanni stressed the need for Nigerians to be patient till the board runs the first examination, while expressing confidence that it will be fine. “He deserves our support, ” he said. Another of the department of History and International Relations, Lagos State University (LASU), Ojo, Dr. Habeeb Sanni said the board needs to extend the registration period to give more room to candidates. A former Dean, Faculty of Law, Kogi State University, Professor All Well Muzam stressed the need for the students to be exposed early to computer methods so that they will know what is required of them. “I do realise that there might be difficulties, but on the part of the stakeholders who think it is the way to move forward , let us modernise this process and let the student be aware that this is what is required of them, and start early to be exposed to the computer method . To the authorities at the schools, they should also start to provide these facilities and ensure that the students are conversant with them ; and let them know that this is where modern education is going.” He added that for candidates who are coming from rural areas , the school system ought to be revolutionised in such a way that not only a partial population of students can benefit from it but it should be across board irrespective of where they are living . “They should be sensitive to these development and therefore make adequate provisions for them . If they are not familiar with the method of the exams, they may not do well , some students may not be able to enter into the tertiary institutions at first attempt maybe because of this problem , they spend one year and get conversant with the process, knowing that they will face it again the next year, and by then, they will would have been proficient in it, ” Muzam stressed. He expressed concern about the difficulties the candidates may be facing saying that many of them are new to the method of testing, but that it could be beneficial to the system in the long run.

T H I S D AY • WEDNESDAY, APRIL 26, 2017

EDUCATION

Monarch Tasks Poly Management on Industrial Devt Curriculum Funmi Ogundare A royal father, the Ayangburen of Ikorodu, Oba Kabiru Adewale Shotobi has called on the management of polytechnics in the country to focus on the various curricular that would produce the manpower needed to drive the industrial development and other policies of government. Oba Shotobi who made this call during the recent maiden three-day international conference of Academic Staff Union of Polytechnic (ASUP), Lagos state polytechnic chapter with a theme, Africa’s Solution to Africa’s Challenges: Nigeria’s Perspective’, affirmed that the curricular should focus on citizenship, collaboration and communication, creativity and imagination. Others, he added, included critical thinking and problem solving, digital literacy, as well as leadership and personal development. According to him, “as the custodian of technology educa-

tion in the nation, these are core skills needed to transform Nigeria and champion sustainable development that will afford our next generation to compete favourably in the global arena.” He stressed the need for Nigeria - being a major stakeholder in Africa - to focus on good governance, raising visionary leaders, promoting vocational, technical and entrepreneurial education, research and development, human capital development, strong and independent institutions, among others. The monarch added “a veritable tool that has lent itself for societal transformation is education. The polytechnics were supposedly established to be the bedrock of the nation’s technology and vocational skills development. “Therefore if this level of education is given proper attention, it has the capabilities to transform Nigeria from an import-dependent nation to a productive and self-sustaining

nation.” Shotobi appealed to the academic community to collaborate with companies in the country to develop indigenous technology and innovations that can drive the socio-economic and industrialisation goals of the nation. The Vice President Academic Staff Union of Polytechnics (ASUP), Mr. Timothy Ogunseye appealed to the federal government to expedite action towards approving the policy that would ensure an end to the discrimination between the HND and B.Sc certificates. He expressed concern that the federal government that spearheaded the campaign is yet to fully implement it, adding that banks and other financial institutions discriminate between BSc and HND graduates by giving the former full time jobs and the latter

temporary jobs. “Former president Olusegun Obasanjo issued a fiat in which he directed that the dichotomy should be removed but that has not been done and the issue came up the second time in Minna and it’s only the Kano state government that has been magnanimous enough to pass it. I do not see any reason why the dichotomy should continue.” Ogunseye who is the Head of Department, Banking and Finance, Federal Polytechnic Ilaro, stressed the need for polytechnic graduates to be given equal opportunity as their university counterparts. He noted “the practical issue is that everybody should be tested for service and I want to assure you that quite a lot of my students upon graduation, take their bankers institute examination at a sitting and

that is the extent of the quality of teaching that we are giving them and I am sure that is what is happening in other polytechnics. “Everybody should be given the same equal opportunity; test them both in theory and practicals and you will discover that these people you are discriminating against are even far better.” The Chairman of ASUP LASPOTECH chapter, Mr. Akinrinlola Ibitoye said the union has written to the government on the issue, adding that both HND and BSc graduates should be placed on the same pedestal. “There is a position by the Senate and the issue is still raising dust and is still ongoing. We are aware about the discrimination in the private sector too. If the senate issues a

position it becomes a national opinion, it will definitely affect the private sector,” he said A former Rector of the polytechnic, Mr. Ayodeji Iginla stressed the need for the union not to relent in its effort to contribute its quota towards enhancement of the academic environment, adding that the theme attests to a desire to use academic discourse to facilitate scientific, technological and industrial development in the country. In another development, the Academic Staff Union of Polytechnic (ASUP), of the polytechnic has embarked on an indefinite strike action, to protest the insensitive act of the management to respect the agreement earlier reached with the union on the payment of the CONTISS 15 migration arrears which had accumulated into 87 months.

Saraki Pledges Commitment to Proposed Kamaldeen Varsity Completion Hammed Shittu in Ilorin The Senate President, Dr. Abubakar Bukola Saraki has reiterated his commitment to see to the completion of the proposed Muhammad Kamaldeen University, Ogidi, Ilorin, Kwara State. He said the project, the brainchild of the founder of Ansarul Islam Society of Nigeria, late Sheik Muhammad Kamaldeen Habeebullahi Al-Adabiy, was precious to him and he would do all he could to bring the lofty dream of the revered Islamic scholar to fruition. Saraki disclosed this weekend in Ilorin shortly after his installation as Baba Adini of Ansarul Islam Society of Nigeria, as part of activities to commemorate the 49th delegate’s conference and 75th anniversary of the Islamic organisation. The former Deputy Governor of Lagos State, Hajia Sinatu Aderoju Ojikutu, was also installed as Iya Adini of the society at the ceremony held at the open field of the proposed Muhammad Kamaldeen University. Saraki, who eulogised the vision of late founder, said the project was one of the legacies left behind by the scholar. He said the cleric was passionate about education, an urge which prompted him to start the proposed varsity. The Senate President, who noted that the project was a huge task, said it was his desire to commission the University soon. He congratulated the leadership of Ansarul Islam group on the anniversary, saying the society has attained an enviable height. In his sermon, the National

Ansarul Islam Society of Nigeria, Sheik Abdulmumin Ayara, said the institution was conceived not knowing that it would take time to realise, adding, “Funding remains a major factor that has caused setback to the realistion of the project, I urge well-meaning Muslims to support it.” The cleric applauded late Waziri of Ilorin, Dr. Olusola Saraki and the Senate President, Dr. Bukola Saraki, for their individual efforts to see to the completion of the project, saying, “those the Senate President delegated to assist in the project have played exemplary roles. We plead with the Senate President to continue to support the proposed University.” The event was attended by the Emir of Ilorin, Alhaji Ibrahim Zulu-Gambari; Speaker of the Kwara State House of Assembly, Dr. Ali Ahmad; a Chieftain of the All Progressives Congress (APC), Alhaji Abubakar Kawu Baraje; Khalifah Al-Adabiy, Sheik Ahmad Olayiwola Kamaldeen and other eminent personalities. In another development, the Senate President, Bukola Saraki has awarded scholarship to two brilliant Kwara students to study advanced science and engineering courses in the Peoples Republic of China. The awardees are Mr. Abdulkadir Habibulah and Miss Aliyu Muinat Ajoke. Speaking at the presentation of their letters of scholarship and admission in Ilorin recenly, Saraki said he is committed to the growth of education so as to move the state and Nigeria forward.

L-R: Diamond Bank staff, Ms Ediri Sobande, winners of Spelling Bee competition, Eti Osa LGA, Miss Favour Olofu and Miss KeziahYakubu; Product Manager, Futures,Tolulope Sobanjo; winner of Bead Making, Ms Happiness Jobson;Team Lead, Corporate Sustainability,Titilola Alabi, during the Financial Literacy Day activity of the bank, held in Lagos...recently

Esso, Exxon Mobil Students PromoteVaccination Affiliate Partners CHEF Through Creative Arts, Writing Contest in Study of Sciences Kuni Tyessi, in Abuja ESSO Exploration and Production Nigeria Limited, an affiliate of ExxonMobil (EEPNL), in partnership with the Community Health Empowerment Foundation (CHEF) has completed the installation of a fully equipped Biology laboratory at the Government College, Birnin Kudu, Jigawa State. The project, executed as part of ExxonMobil’s efforts to improve education in Nigeria, involved the reconstruction and refurbishing of the internal environment of the laboratory, as well as procurement and installation of essential equipment such as clinostats, human development models, microscopes, island benches, baby-in-utero models amongst others. In his remarks, the General Manager, Nigel Cookey-Gam, said the laboratory will both enhance the quality of teach-

ing of Biology as well as the outcome of the external examinations in the school, adding that ExxonMobil subsidiaries have invested over N8 billion in the country’s’ educational system in the past 20 years. “For instance, over N57 million was spent on NNPC/MPN joint venture secondary school scholarships targeting indigent students in Akwa Ibom state and over N4 billion spent on NNPC/MPN joint venture undergraduate scholarship for Nigerian students in the last two decades.” Speaking on the initiative, the Executive Director of CHEF, Mr. Ernest Nwokolo, congratulated EEPNL on its consistent efforts to improve the study of sciences in secondary schools. “I hope that both government and other corporate organisations will devote consistent efforts like EEPNL has done over these years towards supporting the study of science in schools”, he said.

In preparation for the 2017 African Vaccination Week (AVW), students in Abuja have been engaged in its awareness through drawings, paintings, writing of articles and essay competitions. Organisers of the programme, Women Advocates for Vaccine Access (WAVA), as well as other partners in the private and government circles said there was the need to engage young minds in the crusade as most vaccines are more beneficial to children and that the more they know and understand the importance of vaccination , the more they will help in spreading information about immunization. The Managing Director of Direct Consulting and Logistica, Management Consultants for John Hopkins International Vaccine Access in Nigeria, Dr. Shola Dele Olowu said the sensitisation of young minds is apt as only then will the message get to the desired and affected population and

communities. “There are lots of advocacies going on in Nigeria about the importance of immunisation and young people are exempted from the process. So we want to sensitise younger people to get more involved and we know that there is a lot of creativity in young people and so to enhance this in supporting the advocacy work, we are sensitising them on vaccines. The more young people speak out on their need for immunisation and vaccines, the more stronger is the importance for us to immunise our children.” The President of the Association of Female Artists in Nigeria, Lady Ngozi Akande who was one of the jury and a promoter of arts, believes in the catch them young mantra, saying that the initiative by the programme promoters is the most viable way to get the message across and the criterion for the selection will be based on picture quality, creativity, balance, among others.

T H I S D AY • WEDNESDAY, APRIL 26, 2017

EDUCATION

NNPC, Chevron, Others Donate Science Lab to Kwara School Hammed Shittu in Ilorin A multi-million naira worth of science laboratory complex was recently donated to Comprehensive College, Isanlu-Isin in Isin Local Government Council of Kwara State by Agbami group, comprising five major oil companies, NNPC, Petrobras, Statoil, Famfa Oil and Chevron. The complex consists of a 40-seater biology laboratory, 40-seater chemistry laboratory, 40-seater physics laboratory, fume chamber, chemicals, standard furniture and borehole water for the laboratory and the community. According to the donors, the facility would boost science education at the grassroots, and would ginger more students to pursue science-related courses in universities. Speaking at the handover ceremony, a representative of Star Deep Water Petroleum Company Limited (a Chevron company), Mr. Michael Kabi, said the project was meant to improve the standard of education, especially science education among students in the state.

Kabi, who said the focus of the group is in the areas of education, health and economic development, added that, “areas of intervention has not been limited to oil producing areas alone as the whole country is seen as a community. “Because it is a global brand, best practices are deployed. Isanlu Isin is not an oil producing area, but the group sees Nigeria as its corporate entity. The laboratory is not just a structure; it is fully equipped in line with world standard.” He said the impact of the project on students in communities where they were earlier sited has been improvement in grades of science students since they see everything they are taught physically, adding that it is no longer the issue of alternative to practical. Also speaking, the Principal of the school, Mr. Abolarin Tunde said benefits of the science laboratory are immeasurable to the community and a pleasant blessing for the country in general. Tunde, who said the school is already witnessing increased enrolment, with the

building of the structure, expressed hope that more science students would enroll within the next few years with attendant government attention. While calling on other individuals and corporate bodies to intervene in the development of education in the area, he said such private interventions are capable of making impact on other communities in the country. “You can imagine the effect of the building on students. Some of them are changing their vision and ambition to science oriented subjects. When you translate that in future, it may turn the school to a science secondary school. Very soon communities outside here will want their children to school here because of this world class facilities donated to us. We like education here. The first secondary school, Igbomina Baptist Grammar School was built in 1963.” He appealed to the group to assist in rehabilitating some dilapidated structures at the school, building of an e-library, standard mathematics laboratory and health centre.

Water FuelsYour Body As your car is useless without the power supplied to it by its own type of fuel, so are you and your students without adequate intake of water daily. My friend’s mistake provided me with the learning curve on which I have remained since I witnessed the consequences of her error. Tired, unfocused and dehydrated, Jane drove into the petrol station at 9:45pm after a long day shift. This lapse in concentration resulting from thirst and dehydration made her self-supply her car with diesel instead of petrol. She didn’t go too far before her car stalled. It took a loan by way of an overdraft to get her car back on the road. Fuel is to car as water to the body. Fuel, like water, is important to your car. Fuel provides your vehicle with the energy with which it works. The most common vehicle fuels are petrol and diesel. Other energy sources are ethanol, biodiesel, propane, compressed natural gas (CNG), electric batteries charged by an external source and hydrogen. Your car is useless without the power supplied it by its fuel. Your Vehicle’s fuel energises it, propels it, and lubricates it amongst other benefits. In a similar manner, the water you drink provides your body with energy. It also transports substances, aids detoxification and lubricates your joints. The water you drink goes right into your body’s cells, between your cells and in your blood stream to promote high performance in these places. Water is your main energy provider as it generates magnetic and electrical energy within your cells. You would greatly reduce fatigue throughout the day by regularly taking sips of water. There are trillions of cells in your body and they must have water for you to live. About two thirds of the water in your body is contained inside your cells. One third of your water is between your cells while approximately a third of your water is contained in your blood. Water has an excellent ability to dissolve many substances. Its presence within your cells enables it to use valuable nutrients, minerals and chemicals vital for your growth and wellbeing. Water has virtually no calories and won’t fatten up. Omoru writes from the UK

Provide More Funds for Research, Don Tells Govt James Sowole in Akure

L-R: The immediate past District 9110 Governor, Rotary International, Chief Bola Onabadejo, incoming District 9110 Governor, Wale Ogunbadejo; Chairman 2017 District Educational and Welfare Fund Project, Mr. Adeniji Raji and the current District 9110 Governor, Mr. Patrick Ikheloa during the presentation of scholarship awards to indigent students, in Lagos…recently

Community Lauds Chevron, Others for Building Science Lab Adibe Emenyonu in Benin City The Emado Community in Ekpoma, Esan West Local Government Area of Edo State has commended Chevron and its partners for constructing an ultra-modern science laboratory complex at Emaudo Secondary School.Adibe Emenyonu in Benin City The Enogie of Ekpoma, Zaiki Anthony Ehizogie Abumere II, who was represented by Chief Benjamin Ovbiowele, made the commendation during the inauguration of the complex by Governor Godwin Obaseki. He said the project will not only be a motivation to the students, as they will not only be theoretically educated, but would also be practically educated to make them begin to think like Isaac Newton and other great scientists. “By the grace of God, we will continue to give more and more to the society. I am sending a clarion call to organisations to take a cue and do something for our community. We are not Oliver Twist, but we are asking for more.” The Principal of the school, Mr. Peter Abhulimen said: “The presence of this sophisticated laboratory will help provide an enabling environment for students to learn. It will serve as a place for experimentation, observation or practice in the field of study. “It will provide training in observation, supplied detailed information and arouse

student’s interest. It is important that students have an opportunity to verify some ideas for themselves because whatever is learnt in practice can never be forgotten in a hurry.” The governor, who was represented by the Director of Schools, Dr. Airen Okhaku said, “it is delightful to know that such kind gesture was inspired by a son of the soil who was former commissioner for education. He said the project will not only enhance the performance of students, it will also have a ripple effect in the entire local government area and the state. “We want to appreciate your gesture and we want to urge other organisations around the world to emulate you and support education. This project will be kept, it will be secure and you will get the result. “We are appealing to the community to take the project as their property and protect it from hoodlums. I am appealing to the school management to take it as a matter of priority to secure this state-of-the-art laboratory so that the goal or objective to which it was built will be achieved,” Obaseki stated. He promised that the school will benefit from the reconstruction of schools in the state. In his remarks, the Director, Star Deepwater Petroleum, Mr. Richard Kennedy,

said the Agbami family which is a joint venture of Chevron, NNPC, Famfa Oil, Stat Oil and Petrobras which commenced activities in 2004, has since made its mark in the education sector. He said the laboratory will help the students to focus and develop more interest in science and technology and to be more proactive. Represented by the Warri Area Manager, Mr. Tony Emegere, he said: “The science laboratory donation is one of the programmes in our social investment plan aimed at improving the teaching and learning of science subjects in our schools. This will further help in developing interest in science and technology among students. “The Agbami co-ventures recognise the importance of education as a catalyst for unlocking the potential of the youths and developing their capacity for societal relevance. “We are particularly encouraged by the results of our social investment in education through the Agbami Scholarship Programme. Altogether about 13,965 students in various universities in the country have benefited from the programme out of which 64 have graduated with first class or its equivalent. Only recently, 32 beneficiaries of the programme graduated from the University of Lagos with first class.”

A university don, Professor Isiaka Amoo has called on government at all levels to provide adequate research funding for tertiary institutions and research institutes to encourage ground-breaking findings and promote qualitative research. Amoo, a professor of Analytical and Environmental Chemistry at the Federal University of Technology, Akure (FUTA), Ondo State, made the call as part of the recommendations of the 82nd inaugural lecture of the institution, which he delivered recently. The don, who spoke on the topic ‘Plant Seed Chemical: Renewable Raw Material for Industrial Applications’, called for collaboration among research institutes, universities and industries to make research directional and for proper utilisation of research findings and output. The former Chairman of the Ondo State Technical Review Panel on Environmental Impact Assessment stressed the need for researches tailored towards situation. “Scholars need to focus on need-driven research work that will meet the current situation and expectation and for interdisciplinary approach that will promote a robust research output.” He also called on the government and all educational institutions to, as a matter of

urgency, make the supply of electricity a priority for better and efficient research work. The lecturer recommended the production of plant seed chemicals as substitutes for imported raw materials, saying that the substitution and use of seed chemicals would provide opportunity in chemical and allied enterprises for the expansion of the national industrial base. Quoting findings from his research works, he pointed out that biodiesel can be produced abundantly from the extracted oil of snake gourds seeds, while chemicals from velvet bean, rice bean and lab bean seeds exhibit good anti-oxidant activities which can be used in the management of diabetes. Amoo described plant seed chemicals as those chemicals that can be extracted and isolated from plant seeds whose physiochemical and functional properties and other modifications determine their usefulness in chemicalrelated industries. He said if the potential of the aforementioned is maximised in the building industry, it could prevent recurrent collapse of structures, and urged engineers to maximize the findings especially in the riverine areas. He added that the potential of plant seed chemicals must be fully maximized as they are renewable, sustainable, biodegradable, cost effective and environmental friendly.

T H I S D AY • WEDNESDAY, APRIL 26, 2017

EDUCATION

Book Piracy: Publishers’ Association Inaugurates State Chapters Funmi Ogundare The National President, Nigerian Publishers’ Association (NPA), Mr. Gbadega Adedapo, has berated the activities of pirates in the country, saying the body has started inaugurating its state chapters to protect the publishing industry in the country and guide against piracy. Adedapo, disclosed this, recently, while briefing Journalists, on activities of the Nigerian Book Fair Trust(NBFT), to hold the 16thNigeria International Book Fair (NIBF 2017), between May 8 to 13, at the Multi-

purpose Halls, University of Lagos (UNILAG), Akoka. He said the association needs to improve on its distribution chain, noting that, though it’s a challenge to really monitor what is happening to published books in different states in the country, hence, the reason why it decided to introduce state chapters. According to him, “ It’s our mandate to protect publishing in Nigeria, if we have miscreants among the book sellers, we will not be able to achieve what we want, we believe we need to accredit the book sellers to reduce the activities of pirates

in the industry. We will also be able to access information from time to time from our state chapters, and by so doing, we will be able to help the knowledge chain in the country.” The Chairman of NBTF, Mr. Rilwanu Abdusalami who emphasised on the book fair, said it will feature a conference, with theme, ‘ Book Chain, Government Policies and the Promotion of Reading Culture in Africa’, on May 9, at the same venue, adding that the growth of book and knowledge industry are seriously hampered across Africa.

The conference keynote paper will be delivered by the former Registrar of Joint Admission and Matriculation Board (JAMB), Prof. Dibu Ojerinde, while the Chairman, Senate Committee on Local and Foreign Debts, Senator Shehu Sani; Minister for Information, Culture and Tourism, Alhaji Lai Mohammed and President, Lagos Chamber of Commerce and Industry, Chief Nike Akande, are expected as conference Chairman and Special Guest of Honour, respectively. The Chief Host is the Vice Chancellor of UNILAG, Professor Abdulrahmon Bello.

RUNNING THE CLASSROOM

CHIOMA ERUOTOR

Positive Learning Environment for Children

In a school or home setting, a positive learning environment is crucial for a child. A positive learning environment not only consists of the physical setting, but it also encompasses how the child feels or responds to the setting. There are a number of ways families and educators can create an environment for children that is conducive to learning. Step 1 Create order and remove clutter. Children need to feel that there is orderliness in their environment so that they can learn. A room that is free of clutter will help them open their minds to new things. A cluttered or unorganised room can be distracting and impede learning. Furniture should be arranged in such a way that there is little traffic throughout the day and so that it appears organised. Step 2 Ensure comfort. This include temperature of the room, comfortable furniture and aesthetic appeal. Making sure that rooms are not too hot or cold, lighted appropriately and decorated with items that may be appealing to children can help promote a positive learning experience. Step 3 Ensure health and safety. Health and safety should be basic concerns for those creating a learning environment for children. This means childproofing rooms, removing health hazards and environmental allergens as much as possible. Children who do not feel safe have more difficulty learning. Bullying should not be tolerated; children should feel safe and valued at all times. Step 4 Include children in the creation of their environment. This includes having their artwork or accomplishments posted on walls. This will help make their environment welcoming and comfortable. Step 5 Provide support, praise and feedback. It is important for parents and educators to provide positive reinforcement and feedback to their young learners. This gives children motivation to learn, make mistakes and accomplish new things. Step 6 Provide discipline when necessary. Establishing rules for conduct during learning and playtime activities is important. These rules should also outline consequences. Behaviors that disrupt learning

Kogi Secondary Schools Quiz Contest Produces Winners Yekini Jimoh in Lokoja

L-R: President, Nigerian Publishers Association, Mr. Gbadega Adedapo, Chairman, Nigerian Book Fair Trust(NBFT) Alhaji Rilwanu Abdulsalami, Vice Chairman; Mr. Babs Fashanu, and Vice Chairman, Mr. Abiodun Omotubi, during a press conference on the 16th Nigeria International Book Fair (NIBF) in Lagos…recently

Monarch Pledges Cash Award for Best Students of FUPRE Sylvester Idowu in Warri As part of his efforts to promote academic excellence among students of the Federal University of Petroleum Resources (FUPRE), the Ovie of Uvwie kingdom, HRM Emmanuel Ekemejewan Sideso, has promised cash awards to best students of the institution. The traditional ruler made the promise shortly after he was conferred with an honorary doctorate degree of science during the maiden convocation ceremony of the university. He promised a cash prize of N50,000 for the best graduating petroleum engineering

student per session for 10 sessions and N100,000 for the overall best graduating student per session for 10 sessions. He said the cash awards will commence from 2016/2017 session to the delight of guests, students and management of the university. To show his passion for education, the monarch said on ascension to the throne nine years ago, he constituted an Education/Scholarship Administration Committee which has awarded scholarships to many indigent students from Uvwie, including non-indigenes, adding that a Hausa/Fulani female resident benefitted from the scheme from primary school to

the university level. While dedicating the award to those who contributed to the establishment of the university, he thanked Governor Ifeanyi Okowa for his support for the university particularly on the award and commencement of work on the Ugbomro Road. “The completion of the road will not only be an added facelift to Ugbomro and Iteregbi communities as a university town but also open up the economy of the area. He also thanked the university authorities for the gesture and vowed that it will spur him to do more for the institution and humanity.

FG Trains 200 Bauchi Youths on Vocational Skills Segun Awofadeji in Bauchi As part of efforts to reduce the over dependence on civil service, the Federal Ministry of Labour and Productivity said it trains at least 200 youths randomly selected from different local government areas of Bauchi State on various technical and vocational skills yearly. The Principal, Vocational Training Centre of the ministry in Bauchi, Mr. Famous Messa, who made this known while briefing journalists on the achievements of the centre since its establishment in the state in 2008,

explained that the programme was being sponsored by the skills development and certification department of the ministry. According to him, the programme seeks to precipitate rapid industrialisation and stimulate inclusive economic growth by empowering the youths to be gainfully employed through the provision of training in technical vocational skill in various trade areas, business development services and finance. Messa said if the country must curb the current socio-economic vices plaguing the nation such as kidnappings, high profile

assassination, armed robberies, religious intolerance, terrorism, among others, it should introduce more wealth creation and poverty reduction programmes. “Let me add that technical and vocational skills acquisition is indeed a veritable strategy for deploying sustainable solutions to address and redress these vices as it will facilitate the generation of a self-reliant and responsible citizenry. To this end, the centres nationwide require the support of federal and state governments and all stakeholders to be able to expand skills acquisition opportunity in Nigeria.”

The Comprehensive High School, Oke Offin, has emerged the overall winner of the 2017 Kabba/Bunu Secondary Schools quiz competition, organised by members of Kogi State House of Assembly. The school scored 42 points to defeat St. Samuel Seminary School of Aiyede, which scored 32; Wise Virgin, Kabba scored 28 points, while St. Augustine, Kabba came fourth with 24 points. The maiden Kabba/Bunu inter-secondary schools quiz and prize-giving competition was organised by the Majority Leader of the State House of Assembly, Hon. Mathew Kolawole to boost the standard of education in the area. Speaking at the occasion, the Speaker, Kogi State House of Assembly, Hon. Umar Ahmed Immam said there is no alternative to education in human capital development, stressing that parents and guardians must take the education of their children very seriously. He explained that in those days quiz completions and school debates helped a lot of students as they were tasked to read extensively to broaden their knowledge. He noted that it was not the same again as a result of the drastic fall in the standard of education, adding that quiz competitions and debates must be revived in all secondary schools in the state.

The speaker urged the students to face their studies and to shun any act inimical to their way to stardom. In his remarks, the organizer encouraged all participating schools and reiterated his passion for education considering the fact that he was not privileged to be fed with a golden spoon. “You can see that the road was rough for me then, but I was determined to scale through all hurdles. My students and our future leaders, if I can make it in life, in spite of my disadvantages, you can also.” Kolawole stated that education remains the best investment a parent should bestow on a child to make him/her self-reliant. “For this reason, I implore our parents to invest hugely in the educa tion of our children. And you students, if you know that your parents are financially unstable, you can help out by engaging in fruitful ventures that can help ameliorate their situation. “Please don’t be caught in the wave of crime, drug taking, cultism, and other social vices that could be inimical to your health and the society at large.” He highlighted his achievements in two years among which are, sinking of seven new borehole in seven wards, huge investment in education, sports promotion, and empowerment programme designed to alleviate the sufferings of the indigent people of his constituent.

T H I S D AY â&#x20AC;˘ WEDNESDAY, APRIL 26, 2017

CITYSTRINGS

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

Ishawo: A Ghost Town Chiemelie Ezeobi writes that the recent resurgence of militancy at the Ishawo area of Ikorodu, has turned the community into a ghost town as the residents have since fled to safety

shawo town at the Ikorodu area of Lagos used to bubble. In fact, the community was a world of its own with its own market, shops and basic amenities. But that was then. The once bubbling town is now a shadow of its old self. So on getting to the community on a certain Monday, one needed not to be told that a dreadful calamity had befallen the once vibrant town. There was nobody in sight, no shops were opened and the market closed for the day. Except for a few community leaders sighted in groups, who wore worried looks, one would have been tempted to declare the town abandoned. The reason for this is not far-fetched. Most of the inhabitants of the town had fled for their lives due to the resurgence of militancy in the area. Although some had moved out earlier in the year, due to the pockets of attacks, majority followed suit after the deadly attack two weeks ago. The attack saw the militants stormed the town one midnight two Sundays ago and killed two soldiers including an Army captain, five policemen and several civilians. Some civilians were also abducted. To say the residents are living in palpable fear following the return of militants who are terrorising people in the area, is an understatement. The militants-cum- kidnappers are the pipeline vandals who were chased out of the area August last year by a joint security taskforce. Residents lament Meanwhile, the resurgence of militancy in the Ishawo area has become worrisome for the residents, who often bear the brunt of the ruthless attacks and raids. According to the residents, the militants raid their homes armed with dangerous weapons to cart away whatever valuable they can lay their hands on. A resident, Atoba Faleye, said the militants seemed to have an upper hand over the security forces in the area, adding that in most cases, they (locales) are left to protect themselves. He said, "When the military and the police chased out the militants from Ishawo last year, we all heaved a sigh of relief. We never factored in the idea they will come back with full force. This is the bane of the society. There is no contingency plan put in place for a counter attack. The security forces relaxed their guards after their first victory and we are the ones paying the price now. "We are again pleading with the state government to come to our aid. This matter has gone beyond us. We are living in fear." Another resident, one Raheem Olanrewaju, who also decided to brave the odds and stay back, however said they live in palpable fear of the unknown, adding that they had to employ the services of the vigilante to ensure that they at least have some measure of security. Speaking on the latest attacks, another resident Adetola Adeyemi said he had never experienced such an attack by the kidnappers numbering over 40 who dressed in military uniform and held the community hostage for more than four hours around 12 midnight on a Saturday. He called on the government to act fast and come to their rescue security wise, adding that most of them have left Ishawo to move into Ikorodu town. He said, "We have been experiencing the attacks but that Sunday attack was the deadliest. Many people simply moved out of their homes on Monday morning and moved to perch with family and friends in Ikorodu. "Some of us that are still here do not have any option because we are mostly landlords. Where do we run to? How do we leave our houses built with our sweat? The militants will simply move in and have a field day. For us, something is at stake and we have decided to brave it."

Deserted Ishawo community

Also, one Olusola Adedeji, lamented that the resurgence of militancy has become a recurring decimal without the end being in sight. He said the attack before the recent one saw the militants abducting one Chubuike Okeke. He

When the military and the police chased out the militants from Ishawo last year, we all heaved a sigh of relief. We never factored in the idea they will come back with full force.This is the bane of the society.There is no contingency plan put in place for a counter attack. The security forces relaxed their guards after their first victory and we are the ones paying the price now

said in most cases, when they call for help, no one comes to their aid. Pointing at the houses down the road he said, "You can see how deserted everywhere is. Many people who could not cope with living in fear have simply relocated. But some of us don't have any option. We have paid rent for the year. But what some of us did was to send our wives and children away to squat with relatives." Still on the matter, a civil servant at the state Ministry of Commerce and Industry who spoke on condition of anonymity said he was bidding his time until he gets a buyer for his house so he can use the proceeds to rent an apartment, a move he said he dreads because of the stress he went through to build the house. Previous efforts of Operation Awatse Recall that the operations of the militants, who were formerly pipeline vandals, at Ishawo were put to a stop last year. Whilst their reign of terror lasted, scores of people were killed, pipelines were vandalised for the content and they were a law unto themselves. This brazen anomaly led to the deployment of a joint military taskforce in the area. The JTF comprises the elements of the navy, army and air force, as well as the Department of

State Services (DSS), the Nigerian Security and Civil Defence Corps (NSCDC) and the Nigerian Police Force (NPF). The aerial bombardment and subsequent invasion of the enclave by the JTF is part of the military's operation tagged 'Operation Awatse', an Hausa word for 'scatter', which has both the land, air and maritime components. Intensive offensive air strikes were initiated to flush out the pipeline vandals turned militants operating at Ishawo and Igando areas of Ikorodu in Lagos State; then Arepo, Awawa, Elepete and Ibafo areas of Ogun State, given that the JTF was tasked with the responsibility of protecting the NNPC pipelines from Atlas Cove to Mosimi Depot. At the end, several arrests were made and their enclaves decimated by air strikes before the ground forces moved in to complete the operations. After the militants were disbanded, peace returned to Ishawo and its neighbouring communities surrounded by creeks. The resurgence of militancy However after a successful operation that saw the disbandment of the vandals, the security forces relaxed its guards and the militants crept back silently. They showed their presence with little pockets of attacks. They soon

T H I S D AY â&#x20AC;˘ WEDNESDAY, APRIL 26, 2017

CITYSTRINGS became emboldened and enlarged their scale of operations. Yet there was no clampdown by the security personnel. Suffice it to say that now, the militants are back in full force. According to residents, these militants derive joy in inflicting pains on the community and its neighbouring communities, robbing and terrorising residents. Brandishing guns openly during the day, they however specialise in attacking and robbing people at night. According to the residents, the militants often boast of how they are back to revenge their disbandment by the military and for the destruction of their source of livelihood. The latest in a series of militancy attacks was carried out last week and it was one of the deadliest as seven security personnel were gunned down. Despite the presence of the Joint Task Force called Operation Awatse, some group of militants at the wee hours of the morning, again stormed the Ishawo area of Ikorodu and unleashed mayhem. In what was described as a deadly ambush, the militants were said to have taken the security forces by surprise and had therefore had the upper hand. THISDAY had gathered that the militants particularly struck at Woodland Estate that is near the Ishawo creeks and engaged the security personnel, soldiers and the police, in a gun duel. At the end of the gun duel, five policemen and two soldiers were reportedly gunned down by the militants. Later, security forces were said to have reinforced and stormed the area for reconnaissance and possible action. When contacted, the Lagos State Police Command Public Relations Officer, ASP Olarinde Famous-Cole, had confirmed the incident, but said the actual casualty figure was six. He said, "At about 1a.m. today (Sunday), the police received a distress call that a group of militants and kidnappers had entered OwutuIsawo in Ikorodu through the thick swampy forest surrounding the area. They were reported to have kidnapped some residents. In response, the police and the army immediately mobilised personnel to the area, where the kidnapped victims were rescued. "Sadly however, five out of the gallant, brave and patriotic officers lost their lives during the rescue operation. One of them was a Nigerian Army Captain while the remaining four were policemen. One of the residents in the area also died. "Meanwhile, the command will like to assure the public that with synergy from sister security agencies, the criminal elements involved in this dastardly act shall be apprehended and made to face the full wrath of the law. We will continue to rely on the good people of Lagos State for useful information and their partnership." Nabbing the mastermind As expected, the security forces did not take the death of their colleagues lying low. In fact, the Inspector General of Police, Ibrahim Idris, deplored his special Intelligence Response Team (IRT), to Lagos. Swinging into action, they trailed and gunned down one Endurance Ominisan, a.k.a Mighty, the mastermind of the recent murder of two soldiers, four policemen and countless civilians at the Ikorodu area of Lagos. Ominisan, a notorious militant-cum-kidnapper, had first engaged 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 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 on 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

Lagos State Commissioner of Police, Fatai Owoseni (2nd right) and the Rapid Response Squad Commander, ACP Olatunji Disu (1st right) flanked by other officers, during an on-the-spot assessment of Ishawo creeks

his gang was 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. The unexpected demolition In a bid to totally eradicate the menace of militancy and kidnapping, operatives of the Lagos State Police Command, then carried out total demolition of the hideouts of the displaced pipeline vandals turned militants, at the Ishawo Creeks in Ikorodu. This was done a day after they nabbed the deceased mastermind. The operatives, who had earlier been deployed to secure the Ishawo riverine community, were tasked to demolish the illegal shanties near the creeks, where criminal elements hibernate to perpetrate their nefarious activities. The state Commissioner of Police, Fatai Owoseni, who briefed newsmen in Ishawo on the ongoing operations in the creeks, said the operation was a collaboration between the state Marine Police, the Special Anti-Robbery Squad (SARS), mobile policemen and the men from the anti-kidnapping squad in coordination

Some of us that are still here do not have any option because we are mostly landlords. Where do we run to? How do we leave our houses built with our sweat? The militants will simply move in and have a field day. For us, something is at stake and we have decided to brave it

with the local vigilante group. He also said the operation paid off as 13 suspected kidnappers have already been arrested and are currently aiding the team to track down the remaining suspects still on the run. This move by the police was in response to the gruesome murder of four policemen, two army officers and several civilians at the hands of these kidnappers-cum-militants at the Ishawo creeks. Owoseni said Governor Akinwunmi Ambode had immediately ordered a joint operation to hunt down the perpetrators, adding that the operation was yielding positive results. He said, â&#x20AC;&#x153;So far so good following the attack that occurred at Ishawo where we lost four of our policemen and an army captain, we have deployed operatives in the water. What you have seen now is for us to appraise what we have been doing for the past one week. So, quality arrests have been made and we are talking to them because the arrests that were made we believe that we get some evidential value from them." He was joined on the inspection of the joint operation to the den of the militants in Ishawo Creeks by the Commander, Rapid Response Squad (RRS), Mr. Tunji Disu, security agencies and some newsmen. After the on-the-spot assessment he said, â&#x20AC;&#x153;Earlier this morning, they were able to get to the proper camps of these criminal elements where they saw some of them cooking food. They however fled immediately they saw the combined team. We just feel that we should take a decision to destroy the camps. The destruction of the camps are ongoing, that is why we are here. "Meanwhile, the operatives handling the destruction of the camps are right inside the creeks now and at the end of the day, they would share the story as they finish that operation. Owoseni also assured residents in the area that the police would go all out to ensure that they fish out all criminal elements in the area. "We are making progress and you can see that helicopter surveillance is also supporting all what we are doing but we want to assure members of the public around this axis that the government is ready," he added. The royal backing Given the backlash the state government has gotten for demolishing the shanties, the

paramount ruler of Lagos, Oba Rilwanu Akiolu, has however backed Governor Ambode, on his recent demolition of shanties scattered at waterfronts across the state. Akiolu, made this disclosure while receiving the Deputy Inspector General of Police (DIG) in charge of ICT, Foluso Adebanjo, at his palace at Iga-Iduganran in Isale-eko. He also tasked the federal government to establish a Police Mobile Force (PMF) and military barracks each at Ishawo in Ikorodu and other militant-infested riverine communities, adding that "all those shanties at all riverine areas around Lagos State should be demolished. Let the full arm of the law be meted out to anyone arrested for a crime. The public must also assist with useful information. Lagos State government is spending huge amount of money on security." Calls for military, police bases An elder in the community who spoke on anonymity said that since the community is surrounded by creeks, they would appreciate if the government should clear it and establish a military base so as to dissuade the criminals from further attacks. Earlier on, Adedeji, had also emphasised the need for constant security presence in the area. He said, "With what has been happening of recent, it is now obvious that we need a military base to be stationed here. We all have the right to safety and protection and that is the job of the government." Another resident urged the government to replicate what is obtainable at the Majidun area of Ikorodu by deploying personnel of the Nigerian Navy to the area. Recall that the same scenario at Ishawo once happened at Majidun before the navy embarked on the operation that totally flushed them by building a base there, which ensures constant military presence. Oba Akiolu also lent credence to this call by advocating for both military bases and police units in those volatile areas. According to him, after the ongoing demolition of shanties being executed by the state government, both police and military barracks should be established at all the waterfronts to guard against criminalities. He said, "As I sit here, I get intelligence report from across the country. So, tell the IG to liaise with other security agencies to establish a police mobile base and military base at that Ishawo, Ikorodu axis."

T H I S D AY • WEDNESDAY, APRIL 26, 2017

BUSINESS/MONEYGUIDE

Transcorp Appoints Jibunoh President/CEO Nume Ekeghe One of Nigeria’s leading listed conglomerates, Transnational Corporation of Nigeria Plc (Transcorp) has appointed Adim Jibunoh as its new President/Chief Executive Officer. Jibunoh will succeed Emmanuel Nnorom, who has been appointed President of Heirs Holdings, a Lagos-based pan-African investment firm. Transcorp operates in the power, oil and gas, hospitality and agro-industry sectors. A release yesterday, by Director of Resources, Napoleon Esemudje, stated that Jibunoh, who is currently Director, Business Development at Heirs Holdings, a strategic investor

in Transcorp, will assume his new position beginning June 2017. A first-class graduate in economics from the University of Port Harcourt, Jibunoh has spent seven years at Heirs Holdings, holding a series of senior positions and has a background in banking, serving as an Executive Director of Standard Trust Bank Plc and Chief Executive Officer of Continental Trust Bank. He is also a non-executive director of Avon HMO and Heirs Insurance Brokers, other members of the Heirs Holdings group of companies. Commenting on the new appointment, Chairman, Heirs Holdings and Transcorp, Mr. Tony O. Elumelu, said: “Adim has made a considerable contribution towards

the growth of Heirs Holdings. He is highly respected within the Group and has a record of outstanding leadership and the ability to innovate and execute.” He added: “Transcorp has a very special mission in Nigeria - we want to be the biggest provider of power to the Nigerian economy; we want to put light in homes, schools and hospitals; we want to provide the power for Nigeria’s industrialisation; and when foreign investors come to Nigeria, we want to host them in our Transcorp Hilton hotels across Nigeria; and we want to supply indigenous oil and gas to power our industries and infrastructure. I am very certain that Adim will help us deliver on these big dreams.”

Fidelity Bank Disburses N2.2bn MSME Fund The Managing Director/ Chief Executive Officer of Fidelity Bank Plc, Mr. Nnamdi Okonkwo yesterday said the bank had disbursed about N2.2 billion out of the Central Bank of Nigeria’s (CBN’s) N220billion micro, small and medium size enterprises development fund (MSMEDF). Okonkwo, who also said the bank has also received repayment of N400million, pointed out that the CBN is very committed to the disbursement of the fund. He made the remarks during the Fidelity SME Forum, a radio programme sponsored by the bank, which he anchored on Inspiration 92.3 FM. The programme featured Nollywood Actress and Founder of You & I with Monalisa Television show, Ms. Monalisa Chinda. While reacting to a caller’s

concern on the feasibility of accessing the fund by businesses such as the Aba shoe makers, the bank CEO said some traders from Aba had been able to access the fund. Okonkwo said: “We’ve done about N2.2 billion. We’ve got repayment of N400 million and we haven’t had default because of the process through which these funds were accessed. So, because the CBN cannot go to Aba and start lending money, that’s why they need banks like Fidelity Bank. Our team spent about two weeks there (Aba shoe market). We planted a branch there and we are even lending to more and more of these customers. “So really, I just want to encourage people even though sometimes government may not have met with all our expecta-

tions, but let us also realise that some good things are happening and take advantage of them.” The bank chief also revealed that Fidelity Bank had partnered the Monalisa show in the aspect of funding and hand-holding of budding entrepreneurs showcased on the TV programme. He said: “Apart from the fact that we have team members who would help you with basic finance, we also collaborate with Lagos Business School Enterprise Development Center to run programmes periodically that will help budding entrepreneurs understand these basics.” On her part, Chinda disclosed that her diversification into the talk-show business was borne out of her desire to reach out to people who she said were going through a lot of issues.

Kuru: AMCON Will Ensure Success of AMP Programme One year after Asset Management Corporation of Nigeria (AMCON) introduced the Asset Management Partners (AMPs) programme, its Managing Director/Chief Executive Officer, Mr. Ahmed Kuru, yesterday in Abuja called on the AMPs to take the assignment seriously as those that performed creditably well stand the chance of having their portfolio increased in the second batch. AMPs are consortiums with specialist skills required to ensure recovery and debt resolution; banking, legal, valuation and accounting. They began operations in May 2016 working together with AMCON to resolve the over six thousand accounts with loan balances of

N100million and below. Kuru who was speaking at the feedback session with the AMPs organised to cross-fertilise ideas on the way forward, said that the gathering was necessary because it enabled AMCON listen to the AMPs and understand the possible challenges they faced in the recovery mandate given to them. He reassured the AMPs that AMCON will continue to provide them with the necessary support to ensure the objective of the initiative was achieved. To do that however, he said there was need for all participating AMPs to be open-minded. He also encouraged them to feel free

to point out areas they think AMCON should improve on; or even provide support to enable them carry out their assignments better. Kuru also urged them to put in their best towards achieving the deliverables of the AMP initiative and promised that AMCON has incentives to the consortium that would perform very well. AMCON said it came up with the ingenious idea of collaborating with AMPs because it became necessary last year given the fact that the Corporation has a total loan portfolio of over 12,000 loans of various sizes and sectors that are still lingering seven years after AMCON was established.

Sterling Bank Renews Commitment Environmental Sustainability Sterling Bank Plc has renewed its commitment to environmental sustainability as Nigeria joined the rest of the world to celebrate the 2017 edition of the Earth Week. The initiative lasted for one week. First celebrated in 1970, Earth Day event is celebrated in more than 193 countries and is now coordinated globally by the Earth Day Network. Numerous communities all over the world celebrate Earth Week; an entire week of activities focused on the

environmental issues faced by the world. In 2017, the March for Science occurred on Earth Day - Saturday April 22, 2017. This will be followed by the People’s Climate Mobilisation on April 29, 2017. Sterling Bank said in a statement signed by its Chief Marketing Officer, Mr. Henry Bassey that the financial institution would continue to invest in initiatives to promote sustainable environment and to partner various government and private institutions to provide a

clean and healthy environment in the country. “We will continue to support initiatives to ensure that our environment is continually suitable for human habitation. We will put in more investment into our Sterling Environmental Makeover (STEM), where staff members of the Bank on a quarterly basis, volunteer their time and resources to clean the streets of Nigeria as part of “Sterling Environmental Makeover” (#STEM) series.

Jibunoh

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 Inter-Bank Call Rate

December 2016 10.39

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

14.00

Treasury Bill Rate

13.96

Savings Deposit Rate

4.18

1 Month Deposit Rate

8.53

3 Months Deposit Rate

8.80

6 Months Deposit Rate

10.23

12 Months Deposit Rate

10.76

Prime Lending rate

17.09

Maximum Lending Rate

28.55 • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT, MON, 24 APRIL 2017 The price of OPEC basket of thirteen crudes stood at $49.64 a barrel on Monday, compared with $49.99 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY • WEDNESDAY, APRIL 26, 2017

Nigeria’s top 50 stocks based on market fundamentals

25-Apr-17

24-Apr-17

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

165.00

0.00%

2,811,683,721,825.00

10.95

15.07

4.57

4.85%

3.53

02 Nigerian Breweries Plc

123.00

123.50

-0.40%

975,279,409,224.00

3.58

34.32

3.11

2.93%

5.88

03 Guaranty Trust Bank Plc

25.90

25.70

0.78%

762,267,541,901.60

4.49

5.76

1.84

6.83%

1.51

713.50

0.00%

565,560,235,802.00

10.00

71.36

3.11

4.06%

18.32

05 Zenith Bank Plc

14.61

14.80

-1.28%

458,702,774,213.46

4.13

3.54

0.90

12.32%

0.65

06 Lafarge Africa Plc

51.50

50.71

1.56%

234,577,443,215.00

3.71

13.88

1.07

5.83%

0.94

405.00

0.00%

224,090,676,765.00 -82.02

-4.94

3.54

3.93%

0.60

08 Stanbic IBTC Holdings Plc

22.31

21.49

3.82%

223,100,000,000.00

2.85

7.82

1.43

0.45%

1.58

09 United Bank for Africa Plc

5.42

5.40

0.37%

196,635,032,665.24

1.99

2.72

0.51

11.07%

0.44

46.70

0.00%

185,421,278,001.50

0.03

1,597.14

2.60

2.78%

4.43

11 Access Bank Plc

6.30

6.26

0.64%

182,246,221,275.30

13.18

0.48

8.73%

0.40

12 Ecobank Transnational Incorporated

7.69

7.45

3.22%

141,108,048,843.35

0.68

11.37

0.24

8.06%

0.22

35.50

0.00%

134,307,016,875.00

0.81

43.72

1.92

0.14%

11.49

14 Mobil Oil Nig Plc

340.00

324.01

4.94%

122,602,389,080.00

22.61

15.04

1.30

2.12%

5.71

15 FBN Holdings Plc

3.41

0.00%

122,402,948,420.72

0.21

16.43

0.23

4.40%

0.20

16 Guinness Nig Plc

60.00

0.00%

90,353,291,280.00

-3.06

-19.62

0.88

5.33%

2.29

17 Total Nigeria Plc

263.00

0.00%

89,294,243,131.00

43.58

6.03

0.31

5.32%

3.79

18 Dangote Sugar Refinery Plc

6.08

0.00%

72,960,000,000.00

1.20

5.07

0.43

8.22%

1.10

19 Oando Plc

5.40

5.33

1.31%

64,986,942,027.60

0.29

18.60

0.14

13.89%

0.34

20 7-Up Bottling Comp. Plc

95.00

93.95

1.12%

60,856,084,485.00

-0.05 -2,079.91

0.65

2.32%

2.74

21 Forte Oil Plc.

44.80

45.00

-0.44%

58,351,153,414.40

2.22

20.19

0.39

7.70%

1.35

22 International Breweries Plc

17.50

0.00%

57,649,362,400.00

0.02

776.67

2.17

1.43%

5.25

23 Julius Berger Nig. Plc

41.95

0.00%

55,374,000,000.00

-2.89

-14.51

0.40

3.58%

0.79

24 Flour Mills Nig. Plc

18.00

0.00%

47,236,269,366.00

-1.19

-15.09

0.11

11.11%

0.47

25 Okomu Oil Palm Plc

46.60

0.00%

44,452,206,000.00

5.15

9.05

3.09

0.21%

2.61

0.93

0.97

-4.12%

36,010,527,605.25

-0.03

-31.95

0.61

0.00%

0.42

14.43

14.50

-0.48%

27,718,073,104.41

3.37

4.28

0.37

6.93%

0.37

0.83

0.00%

24,038,946,124.36

0.39

2.14

0.16

19.28%

0.13

33.00

0.00%

23,100,000,000.00

2.29

14.41

3.39

3.48%

10.12

30 Sterling Bank Plc

0.75

0.72

4.17%

21,592,813,594.50

0.18

4.18

0.19

12.00%

0.25

31 Diamond Bank Plc

0.91

0.95

-4.21%

21,075,953,960.88

-0.29

-3.10

0.10

0.00%

0.09

32 FCMB Group Plc

1.00

0.99

1.01%

19,802,710,781.00

0.72

1.38

0.11

10.00%

0.11

33 National Salt Co. Nig. Plc

7.35

7.36

-0.14%

19,473,372,078.30

0.91

8.06

1.06

7.48%

2.42

34 Wema Bank Plc

0.50

0.00%

19,287,233,040.50

0.07

7.44

0.36

0.00%

0.40

35 Custodian And Allied Insurance Plc

3.02

0.00%

17,763,229,868.90

0.91

3.33

0.46

4.64%

0.59

36 Cadbury Nigeria Plc

9.30

0.00%

17,467,278,972.00

-0.16

-58.93

0.58

13.98%

1.58

14.20

0.00%

16,981,446,129.60

3.51

4.04

1.18

2.11%

1.00

38 Mansard Insurance Plc

1.50

0.00%

15,750,000,000.00

0.25

5.98

0.76

3.33%

0.78

39 PZ Cussons Nigeria Plc

14.79

14.64

1.02%

14,790,000,000.00

5.69

2.60

1.03

0.68%

0.40

40 Continental Reinsurance Plc

1.22

0.00%

12,654,748,060.64

0.42

2.90

0.57

9.84%

0.68

41 Honeywell Flour Mill Plc

1.12

1.07

4.67%

8,881,821,376.96

-0.40

-2.77

0.18

14.29%

0.27

42 Skye Bank Plc

0.50

0.00%

6,940,150,705.00

-2.93

-0.17

0.04

60.00%

0.07

43 Unity Bank Plc

0.58

0.00%

6,779,816,006.36

0.19

3.10

0.08

0.00%

0.08

44 Wapic Insurance Plc

0.50

0.00%

6,691,369,126.00

0.18

2.78

0.85

6.00%

0.41

45 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

46 Cement Co. Of North.Nig. Plc

4.47

0.00%

5,617,349,614.02

0.22

20.42

0.51

2.24%

0.52

47 Nigerian Aviation Handling Company Plc

2.44

2.45

-0.41%

3,963,093,750.00

0.36

6.82

0.50

8.20%

0.61

48 AIICO Insurance Plc

0.52

0.53

-1.89%

3,603,706,329.60

1.48

0.35

0.13

9.62%

0.41

49 UACN Property Development Co. Limited

1.92

1.75

9.71%

3,299,999,990.40

-0.90

-2.13

0.52

36.46%

0.10

50 Fidson Healthcare Plc

1.05

0.96

9.38%

1,575,000,000.00

0.21

4.97

0.21

4.76%

0.24

04 Nestle Nigeria Plc

07 Seplat Petroleum Dev. Co. Ltd

10 Presco Plc

13 Unilever Nigeria Plc

26 Transnational Corporation Of Nigeria Plc 27 U A C N Plc 28 Fidelity Bank Plc 29 Cap Plc

37 Glaxo Smithkline Consumer Nig. Plc

TOTAL

8,342,021,796,631.85

TOTAL MARKET CAP

8,933,784,337,233.33

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

93.38%

Table 1 Market Statistics Mkt Indicators

Open 24-Apr-17

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

25,747.05 8.91

25,818.87 8.93

0.28% 0.28%

106.88 8.32

107.14 8.34

0.24% 0.24%

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

Close 25-Apr-17

Change %

Table 3 Top 5 Gainers Stock

Open Close Change 24-Apr-17 25-Apr-17 %

UACN Property Development Co. Limited Fidson Healthcare Plc Mobil Oil Nig Plc Honeywell Flour Mill Plc Sterling Bank Plc

1.75

1.92

9.71%

0.96 324.01 1.07 0.72

1.05 340.00 1.12 0.75

9.38% 4.94% 4.67% 4.17%

Table 4 Top 5 Losers Stock

Open Close Change 24-Apr-17 25-Apr-17 %

Diamond Bank Plc Transnational Corporation Of Nigeria Plc AIICO Insurance Plc Zenith Bank Plc U A C N Plc

0.95 0.97

0.91 -4.21% 0.93 -4.12%

0.53 14.80 14.50

0.52 -1.89% 14.61 -1.28% 14.43 -0.48%

Market moves northward by 0.28% Market pulse on the Nigerian Stock Exchange (NSE) today – Monday, April 24th, 2017 ended on a positive note as the stock market closed green. This was further highlighted by positive performance from the NSE Subsectors: Banking, Insurance and Oil & Gas (Save Consumer Goods). However, trading activities decreased in volume as 127.43m shares worth of N909m in 3,176 deals exchanged hands today. This is a decrease from 211.76m shares worth of N1.41 billion in 3,054 deals which exchanged hands on Monday. Topping in volume terms are: FCMB Group Plc, N.E.M Insurance Co (Nig.) Plc and Transnational Corporation Of Nigeria Plc; Guaranty Trust Bank Plc and Zenith Bank Plc ended trading as the most active stocks in value terms. Brent crude oil price today settles at US$51.48 per barrel. The All Share Index (NSEASI) closed negative with 0.28% (+71.82) increase to close at 25,818.87 from 25,747.05 the previous trading day. Market capitalization appreciated in tandem to N8.93 trillion from N8.91 trillion of prior trading day. Similarly, the Thisday BGL 50 Index closes with an increase of 0.24% to 107.14 from 106.88 recorded at the end of the previous trading day, while its market capitalization stood at N8.34 trillion from N8.32 trillion of the previous trading day. Market breath closed positive today as 24 stocks gained on the bourse while 12 stocks also declined, leaving 70 stocks unchanged. Topping the Thisday BGL 50 Index gainers’ list UACN Property Development Co. Limited as it emerged as the day’s toast of investors with a gain of 9.71% to close at N1.92 per share. It was followed by Fidson Healthcare Plc with a gain of 9.38% to close at N1.05 per share. Others on the gainers list include: Mobil Oil Nig. Plc, Honeywell Flour Mill Plc and Sterling Bank Plc; while on the decliners’ list, Diamond Bank Plc lead with a loss of 4.21% to close at N0.91 share. It was followed by Transnational Corporation Of Nigeria Plc with a loss of 4.12% to close at 0.93 per share. Others on the decliners list include: AIICO Insurance Plc, Zenith Bank Plc and UACN Plc. REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

T H I S D AY • WEDNESDAY, APRIL 26, 2017

MARKET NEWS

Stanbic IBTC Grows Profit by 101% to N16bn in Three Months Goddy Egene and Nosa Alekhuogie Stanbic IBTC Holdings Plc has posted another impressive performance despite the headwinds in the economy. The financial institution, which recorded N28 billion profit after tax (PAT) for the 2016 financial year, consolidated on the performance, recording improved results for the first quarter (Q1) ended March

31, 2017. The bank recorded gross earnings of N47 billion in 2017, up by 35 per cent from N34.8 billion recorded in the corresponding quarter last year. Net interest income rose by 18 per cent from N17.1billion in Q1, 2016 to N20.2 billion. Operating expenses followed the upward trend rising from N14.8 billion to N17 billion. However, Stanbic IBTC grew its profit before tax

T H E MAIN BOARD

DEALS

MARKET PRICE

by 78 per cent from N10.5 billion to N18.6 billion, while profit after tax soared by 101 per cent from N8.0 billion to N16.1 billion. Net margin improved to 34 per cent, compared with 23 per cent in Q1 of 2016. Market analysts said the bank’s Q1 results marked a significant improvement and if maintained throughout the remaining quarters of the year, would mean higher returns

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

for shareholders. Commenting on the result, Chief Executive of Stanbic IBTC Holdings Plc Mr. Yinka Sanni, said: “I am delighted to announce another strong performance for the first quarter of 2017 following the recent release of our FY 2016 results. Stanbic IBTC Group achieved significant growth in profit after tax by over 100%, despite the challenging trading

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

environment which was characterised by challenges with FX liquidity, difficult credit environment and an increasing cost of operations.” He added: “We remain positive that economic activities will improve as the Nigerian economy is beginning to show signs of positive outlook due to an increase in the supply of foreign exchange to both retail and corporate users and decreasing headline inflation.

As we focus on driving our objective to be the leading end-to-end financial solutions provider in Nigeria, we will continue to leverage on our upgraded digital channels and our membership of the Standard Bank Group.” According to him, the group’s liquidity ratio closed at 94.35 per cent, while the bank’s liquidity ratio was at 83.99 per cent at the end of Q1 2017.

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 26, 2017

MARKET NEWS

Nigerian Breweries Assures Stakeholders of Sustainable Growth Goddy Egene Nigerian Breweries Plc yesterday assured stakeholders of sustainable growth challenging operating environment notwithstanding. Speaking at the pre-annual general meeting (AGM) media briefing in Lagos, the Managing Director of Nigerian Breweries, Mr. Nicolaas Vervelde explained that N314 billion revenue it recorded in the 2016 financial year resulted from its twin agenda of cost leadership and market leadership supported by innovation. He said this agenda would

be consolidated upon to ensure improved performance and delivery of good returns to shareholders. According to him, the N314 billion revenue represents a 6.7 per cent growth from the N293 billion it recorded in 2015, noting that the total dividend of N3.58 per share recommended was a 100 per cent earnings pay out. “When all factors are considered, our results have been positive and creditable over the years. Despite the deterioration in consumer purchasing power, our robust brand portfolio which covers

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

a broad spectrum of consumer needs enabled us to protect revenue and profitability,” he said. “The operating environment in 2016 was very challenging especially from an input cost, forex and purchasing power perspectives. Our volume growth was in the mid-single digit region, coupled with the price increases that we implemented positively impacted our revenue growth,”he added. He explained that the operating environment in 2017 is expected to be similar to 2016, adding that the company is confident that it is well positioned

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 24-Apr-2017, unless otherwise stated.

to adapt to the operating environment as required, and stay committed to delivering a good return on investment to shareholders. Already the first quarter results of the company has raised hopes that 2017 financial year would be better. Nigerian Breweries Plc reported profit after tax (PAT) of N11.4 billion for the first quarter (Q1) ended March 31, 2017, showing an increase of nine per cent above N10.45 billion in the corresponding period of 2015. Nigerian Breweries made the

profit out of a revenue of N91.29 billion for the period, which is 18 per cent higher than the N77.55 billion achieved in 2016. Profit before tax grew by 16 per cent from N14.99 billion in 2016 to N17.43 billion in the current period, while PAT of N11.4 billion was recorded. The company explained in a statement signed by the Company Secretary/Legal Adviser, Mr. Uaboi Agbebaku, that cost of goods sold increased by 25 per cent as a result of higher input costs while results from operating activities and profit after tax grew

by seven per cent and nine per cent respectively, impacted by lower net finance charges and a continued focus on its cost efficiencies. “Revenue for the period grew by 18 per cent due to the impact of price increases implemented in 2016 to cushion the effects of the operating environment. Although the 2017 operating environment remains challenging, board is confident that the company is in good position to make the necessary adjustments to cope with the difficult operating environment,” it said.

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

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / 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 133.62 134.30 5.27% Nigeria International Debt Fund 220.15 221.09 2.33% 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 1.24% 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 16.92% 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 12.45 12.83 0.88% ARM Discovery Fund 293.57 302.42 2.23% ARM Ethical Fund 22.50 23.18 0.70% ARM Money Market Fund 1.00 1.00 15.77% 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 107.97 108.72 2.65% AXA Mansard Money Market Fund 1.00 1.00 17.69% 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 9.67 9.92 3.32% Women's Investment Fund 88.49 90.76 4.60% 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 18.16% 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 1,061.35 1,062.50 5.12% FBN Heritage Fund 114.49 115.26 2.60% FBN Money Market Fund 100.00 100.00 17.46% FBN Nigeria Eurobond (USD) Fund - Institutional $106.20 $106.91 3.19% FBN Nigeria Eurobond (USD) Fund - Retail $105.87 $106.58 3.58% FBN Nigeria Smart Beta Equity Fund 116.40 117.91 3.30% 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 1.00 5.32% Legacy Short Maturity (NGN) Fund 2.69 2.69 4.76% 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 2,243.32 2,270.00 1.55% Coral Income Fund 2,219.83 2,219.83 5.49% 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 17.11% 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 17.52% Vantage Balanced Fund 1.76 1.77 4.47% Vantage Guaranteed Income Fund 1.00 1.00 17.34%

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 3.11% Lotus Halal Fixed Income Fund 1,016.92 1,016.92 3.38% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 10.02 10.10 3.67% 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 1.09 1.12 10.72% PACAM Fixed Income Fund 10.54 10.60 1.39% PACAM Money Market Fund 10.00 10.00 16.94% 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 113.05 113.98 11.04% 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 1.29 1.29 3.35% 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 1,880.62 1,890.32 2.68% Stanbic IBTC Bond Fund 157.05 157.05 2.01% Stanbic IBTC Ethical Fund 0.78 0.79 1.95% Stanbic IBTC Guaranteed Investment Fund 195.47 195.47 4.59% Stanbic IBTC Iman Fund 132.26 134.07 1.91% Stanbic IBTC Money Market Fund 100.00 100.00 17.99% Stanbic IBTC Nigerian Equity Fund 7,480.25 7,567.25 -1.36% 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 8.48% United Capital Bond Fund 1.27 1.27 15.68% United Capital Equity Fund 0.65 0.67 -0.11% 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 10.17 10.35 5.46% Zenith Ethical Fund 11.47 11.58 5.01% Zenith Income Fund 17.61 17.61 6.53%

REITS

NAV Per Share

Yield / T-Rtn

11.41 126.01

1.01% 1.65%

Bid Price

Offer Price

Yield / T-Rtn

8.06 73.71

8.16 75.08

-8.15% -2.74%

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

2.66 6.12 11.75 16.20 129.25

2.70 6.20 11.85 16.40 131.25

-3.21% -12.87% -2.05% 1.56% -0.48%

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 26, 2017

UTILIZATION OF FOREIGN EXCHANGE AS AT 21ST OF APRIL 2017

455 456 303 304

151 152

OGBUE CHUBA VINCENT

IKE SIMEON

T H I S D AY WEDNESDAY APRIL 26, 2017

UTILIZATION OF FOREIGN EXCHANGE AS AT 21ST OF APRIL 2017

601

AGUBISI VICTOR NNAEDU

1,384.00

602

SOURCES OF FOREIGN EXCHANGE AS AT 21ST OF APRIL 2017

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Hollande Calls for Unity at Tribute to Slain Officer Jugelé French President François Hollande has used a ceremony to honour a police officer slain in Paris last week to call for unity in the “long and difficult fight against terrorism”. He awarded Xavier Jugelé, 37, the Legion of Honour, one of France’s highest honours. The two candidates to succeed Mr Hollande, Emmanuel Macron and Marine Le Pen, both attended. They will face off at a second round of voting on 7 May. Mr Jugelé, 37, was killed with a Kalashnikov rifle while on duty on the Champs Elysées avenue last Thursday,

The main suspect is convicted criminal Karim Cheurfi. “Once again France has lost one of its bravest sons,” Mr Hollande said. “Once again the Republic has lost one of its most valuable guardians.” He said France’s struggle against Islamist terrorism was “a fight that is going to last, a fight that will be waged until the threat is completely neutralised”. Mr Jugele’s partner, Etienne Cardiles, gave a moving tribute to his loved one, who had campaigned for gay rights and volunteered in Greece to help with the migrant crisis. “I suffer without hatred,”

he said. The issue of security sharply divides the presidential candidates, who were appearing together in public for the first time, though discreetly. They were among a large group of politicians and public figures who watched as the flag-draped coffin was brought into the courtyard of police headquarters. Ms Le Pen wants France to reintroduce border controls and deport all foreigners on a terror watchlist. Mr Macron, an advocate of open borders, has urged French citizens not to give in to fear.

Seoul: North Korea Holds Drill to Mark Military Anniversary South Korea’s military said Tuesday that North Korea held major live-fire drills in an area around its eastern coastal town of Wonsan as it marked the anniversary of the founding of its military. The exercise took place as a U.S. guided-missile submarine arrived in South Korea and envoys from the United States, Japan and South Korea met in Tokyo to discuss the growing threat posed by North Korea’s nuclear weapons and missiles programme. Experts thought North Korea might conduct a nuclear test or a ballistic missile launch to mark the anniversary, but as of Tuesday evening neither had occurred. Crowds in Pyongyang, the North Korean capital, laid flowers and paid respects at giant statues of the country’s former leaders Kim Il Sung and Kim Jong Il, one day

after the minister of defence reiterated that the North was ready to use pre-emptive strikes or any measures it deems necessary to defend itself against “U.S. imperialists.” “The situation prevailing on the Korean Peninsula is so tense that a nuclear war may break out due to the frantic war drills of the U.S. imperialists and their vassal forces for aggression,” Gen. Pak Yong Sik told a meeting of thousands of senior military and civilian officials. South Korea’s Joint Chiefs of Staff said it was closely watching North Korean military action in the Wonsan city area, where it said the drills were being held. South Korea’s Yonhap news agency said the exercise involved 300 to 400 artillery pieces, but an official from Seoul’s Defense Ministry couldn’t confirm such details.

The streets of Pyongyang were quiet. Flower-laying and bowing at statues and portraits of the leaders is a regular routine on major anniversaries. People also gathered in open spaces to take part in organised dancing, another common way to mark holidays. “Our great leaders founded and wisely led our revolutionary army, and just like that, now our respected Marshal Kim Jong Un is leading wisely, so even though the situation is tense, we are celebrating the day,” said Choe Un Byol, who came with his family to the bronze statues of the former leaders. North Korea often also marks significant dates by displaying its military capability. It launched a missile one day after the 105th birthday of late founder Kim Il Sung on April 15.

Turkey Targets Kurdish Fighters in Iraq and Syria Turkish military jets have carried out air strikes against Kurdistan Workers’ Party (PKK) fighters in northern Iraq and northeast Syria, killing at least 24 people, Turkey’s state-run Anadolu news agency says. A statement released by Turkey’s air force said that it carried out the air strikes against PKK targets located in the Sinjar Mountain region in northern Iraq and in Karachok Mountain in northeastern Syria on Tuesday. The targets were hit to prevent the PKK from sending “terrorists, arms, ammunition and explosives to Turkey,” the statement said, adding that the operation was conducted “within the scope of the international

law”. The PKK are Kurdish fighters operating in Turkey, while the Rojava Defence Units (YPG) are Kurdish fighters operating in northern Syria and the Peshmerga fighters are in charge of security in Iraqi Kurdistan. The three groups are currently fighting the Islamic State of Iraq and the Levant (ISIL) group. “At least six people were killed, five from the Peshmerga and a sixth from Asayish [Rojava],” Lieutenant-General Jabbar Yawar, secretary-general of the Ministry of Peshmerga Affairs in Iraq’s autonomous Kurdish government, told AFP news agency. The UK-based Syrian

Observatory for Human Rights, a monitoring group which tracks the Syrian war, said that at least 18 YPG fighters were killed in the air strikes in Syria’s Hasaka province. The YPG in northern Syria, said on its Twitter account that Turkish warplanes targeted the headquarters of the General Command of the YPG in Mount Karachok, near the city of Derik in Hasaka. The YPG also reported that a media centre, a local radio station, communication headquarters and some military institutions were hit. The group forms a key component of the US-backed Syrian Democratic Forces (SDF) and has been closing in on ISIL in Raqqa.

WEDNESDAY APRIL 26, 2017 • T H I S D AY

T H I S D AY WEDNESDAY APRIL 26, 2017

WEDNESDAY, APRIL 26, 2017• T H I S D AY

NEWSXTRA

Court Grants Patience Jonathan Unfettered Access to Her Account EFCC withdraws application for stay of execution

Davidson Iriekpen The coast is now clear for the former First Lady, Mrs. Patience Jonathan, to access her $5.84million in Skye Bank. Justice Mojisola Olatoregun had on April 6, 2017, unfrozen the account after Mrs. Jonathan’s lawyer, Ifedayo Adedipe (SAN), challenged the Economic and Financial Crimes Commission (EFCC) for joining her in a suit that she was not a party to, and urged the court to unfreeze his client’s account. Not satisfied with the order,

the EFCC filed an application for stay of execution of the order and a notice of appeal challenging the judgment. The two applications, according to EFCC counsel, Rotimi Oyedepo, were dated April 6 and filed on April 7. However, at the resumed hearing of the matter yesterday, Oyedepo informed the judge of his agency’s intention to discontinue the two applications. He did not give any reason for the discontinuance. Upon the withdrawal of the two applications, lawyer to Mrs.

Justice Ademola’s Wife Returns as Lagos Head of Service Gboyega Akinsanmi The Lagos State Head of Service (HoS), Mrs. Olabowale Ademola, yesterday resumed duties, about three weeks after an Abuja High Court exonerated her of the 18-count corruption charge preferred against her, her husband, Justice Adeniyi Ademola and a senior lawyer, Mr. Joe Agi. Mrs. Ademola deliberately stepped aside as the state’s HoS on December 15, 2016 to enable her clear herself of the graft charges. After stepping aside, the state Governor, Mr. Akinwunmi Ambode, appointed the Permanent Secretary of the Ministry of Women Affairs and Poverty Alleviation, Mrs. Folashade Adesoye, as acting HoS. However, the Commissioner for Information and Strategy, Mr. Steve Ayorinde, yesterday confirmed that Mrs. Ademola had resumed duty after about five leave from her position. At a session with journalists yesterday, the commissioner explained that Mrs. Ademola took permission “to step aside so that she can pursue her in order to prove her innocence.”

Since the court had discharged and acquitted her of an 18-count corruption charges, Ayorinde noted that there was no reason why she should not come back to her official position. The HoS was charged alongside her husband and Agi with criminal conspiracy to receive gratification in various ways among other corruption allegations. Justice Ademola and his wife were charged to court after the operatives of the Department of State Services (DSS) raided Ademola’s residence in Abuja last October. Consequently, the federal government arraigned them on charges bordering on criminal conspiracy to receive gratification in various ways, contrary to Section 8(1)(a) of the Independent Corrupt Practices and Other Related Offences Act 2000. An FCT High Court presided over by Justice Jude Okeke dismissed the 18-count charge, thereby discharging and acquitting Ademola and his wife of criminal conspiracy to collect gratification.

Presidency: Buhari Won’t Approve Humiliation of Journalists Omololu Ogunmade in Abuja The presidency yesterday dismissed the attribution of the expulsion of The Punch reporter, Lekan Adetayo, from the Villa on Monday, by The Guardian to the personality of President Muhammadu Buhari, saying the president would never approve the oppression of any journalist. Reacting to The Guardian Newspaper’s report entitled: “Memories of Decree 4,” Senior Special Assistant to the President on Media and Publicity, Malam Garba Shehu, described as wrong and improper the use of an isolated incident to judge the character of the president. He insisted that the president would never approve the oppression and humiliation of any journalists in the course of carrying out their legitimate duties. He also alleged that The

Guardian’s action created the impression that the newspaper had been waiting eagerly to attack the president in its bid to portray the incident as a show of his dislike towards the media. He argued that despite dissociating himself from the unfortunate incident and the eventual recall of the affected journalist, “The Guardian still chose to go for the President’s jugular, holding him personally responsible for an action he knew nothing about.” According to Shehu, since he was sworn in in 2015, Buhari has not oppressed any media house or journalist on account of unfavourable reports about him or his government as he reiterated the president’s respect for freedom of the press and his commitment to protect their liberties at all times.

Jonathan confirmed the service of the application for withdrawal on the defendants. He equally informed the court of his intention to withdraw Form 48 (notice of committal to prison) and Form 49 (committal to prison), which he said was filed against the Skye Bank in anticipation that if it failed to obey the order unfreezing Jonathan’s account. Upon the submissions of both counsel, Justice Olatoregun granted the withdrawal of both the EFCC’s two applications, and Mrs. Jonathan’s Form 48 and Form 49. Last year, based on an application filed before the court by EFCC, Justice Olatoregun had ordered that the account of the former first lady ($5,842,316.66) domicile with Skye bank Plc be frozen on the grounds that the money was suspected to be proceeds of crime. Also affected by the said order were five limited liability companies that were having a total sum of

N7,418,829,290.94 billion and an account belonging to one Esther Oba with sum of $429,381.87. The companies are: Finchley Top Homes Limited, Aribawa Aruera, Magel Resort Limited, AM-PM Global Network Limited and Pansy Oil and Gas Limited . The order of the court which froze the account was sequel to a further and better affidavit in support of ex-parte originating summons sworn to by Abdulahi Tukur, an investigating officer of the EFCC and filed before the court by EFCC prosecutor, Oyedepo. Tukur had averred that there was urgent need for the court to direct the managers of the bank accounts to in the interim, forfeit the money contain therein to prevent further tampering it. While Mrs. Jonathan’s money is with Skye Bank, Finchley Top Homes Limited fraudulently opened account number 1102001996 domicile with Ecobank Plc with a

current balance of N226,376,700.23 and a fixed deposit with balance of N1,099,511,484.88. Finchley Top Homes Limited also fraudulently opened the following accounts 1771731336 with Skye Bank Plc with current balance of N14,173,848.85; 4011019539 domicile with Fidelity Bank with current balance of N1,800,494 billion; account 0016901361 with Stanbic Bank with current balance of N40,594,12.88 and 0019213687 with Diamond Bank Plc with current balance of N39,418,712.12. Another limited liability company affected by the order of the court was Aribawa Aruera Reachout Foundation which opened account number 1222014221 domiciled with Ecobank Bank Plc with closing balance of N479,893,431.01. Others are Magel Resort Limited which opened account number 4011019546/5250059782 with Fidelity Bank Plc with current

balance of N1,000,494,000. There were other two accounts opened by Magel Resort Limited, 1011744356, domiciled with Zenith Bank with balance of N858,923,982 and 0024351590 domiciled with Diamond bank with balance of N174,166,207.00. AM-PM Global Network Limited opened account number 0026718889 with Diamond Bank Plc with a balance of N7,213,303.50 billion. Pagmat Oil and Gas Limited opened account number 4011019577 with Fidelity Bank with a current balance of N1,809,666,494.68 billion, and account number 0026838491 with Diamond Bank Plc with a balance of N55,930,024.50 million. Esther Oba’s account number 0019213689 with Diamond Bank with a current balance of $429, 381. 87 All the monies were suspected to be proceeds of crime.

BE COURAGEOUS

Ekiti State Governor, Ayodele Fayose (right), embracing the leader of Indigenous People of Biafra (IPOB), Nnamdi Kanu , at the Federal High Court in Abuja.....yesterday

APC NEC Members Protest Cancellation of Meeting Oyegun meets state party chairmen Onyebuchi Ezigbo in Abuja

Bolaji Abdullahi, defended the cancelation of the two The brewing crisis in the events, saying it was due to ruling All Progressives “unexpected developments.” But just as the aggrieved Congress (APC) appears unrelenting as some members NEC members reached out of the party’s National to President Buhari for his Executive Committee intervention, the National and non-members of the Chairman of the party, Chief National Working Committee John Odigie-Oyegun, engaged (NWC) have protested the APC state chairmen in a crucial postponement of the NEC closed-door meeting last and National Caucus meetings Monday to try and galvanise earlier scheduled for April their support. The NEC members had in 24 and 25 respectively. The group which had their first letter to the president earlier pleaded with President dated April 6, 2017, which was Muhammadu Buhari to signed by a National Ex-officio, intervene, last Monday wrote South-west coordinator, Hon. another letter titled: ‘Save our Omolayo O. Akintola, and party’ to both Buhari and his tagged: ‘Save our party-APC,’ deputy, Prof. Yemi Osinbajo. demanded an urgent NEC The leadership of the meeting of the party to save APC had in a statement it from “preventable, avoidable issued by its National and unnecessary intra-party Publicity Secretary, Mallam cracks that the present situation

might generate.” They had expressed concern that Oyegun had not responded to their complaints hence this ‘Save our party’ request.” Akintola, said the present protest letter is to serve as a reminder to the president on the need to act on their request. The group’s letter read: “Arising from our forum’s meeting held this day, April 20, 2017 which had earlier been fixed in the anticipation of NEC meeting fixed for April 25, 2017 which was postponed about five or four days ago necessitated the writing of this letter as a considered necessary reminder hinged on the fundamental importance of the said letter dated 6/4/2017 titled: ‘Save our party.’ “As co-stakeholders and representatives of the federating states in our great

party, we humble deemed it fit to painstakingly wait for your excellency’s expected reaction/steps to properly address the undiluted facts/ issues raised in the said letter through political approaches or dialogue/meeting that your excellency might consider most convenient.” It was learnt from highly reliable sources that nonNWC members met in an undisclosed hotel in Abuja in the early hours yesterday to agree on a common position regarding the affairs of the party. The source also alleged that both the non-NWC forum and the forum of APC state chairmen had agreed to move a motion of vote of no confidence on Oyegun whenever the NEC is held.

WEDNESDAY, APRIL 26, 2017• T H I S D AY

NEWSXTRA

Osinbajo: Illicit Financial Flows Pass Through Banking System Nume Ekeghe Vice-President Yemi Osinbajo has stated that illicit funds and other forms of ‘dirty’ monies majorly go through the banking system, just as he appealed to the financial institutions to be more transparent. Osinbajo also urged bank officials to desist from accepting funds that are proceeds of money laundering.

The vice-president made the comments at the 22nd World Conference of Banking Institute yesterday in Lagos that is being hosted by the Chartered Institute of Bankers of Nigeria (CIBN). The conference was for financial institution heads across the globe to discuss the future of banking and finance. Osibanjo who was represented by the Senior Assistant to President Muhammadu

FG, LASG Mull Relocating Tank Farms from Apapa Halts approval for construction of filling stations Gboyega Akinsanmi The Lagos State Government yesterday disclosed that it had initiated talks with the federal government on how to relocate oil tank farms from the residential areas of the Apapa Central Business District. The state government also disclosed that it had stopped granting approval for the construction of filling stations in all parts of the state until the inventory of the existing ones was concluded. The Commissioner for Physical Planning and Urban Development, Mr. Abiola Anifowose, made the disclosure at an annual ministerial press briefing to mark the second anniversary of the state Governor, Mr. Akinwunmi Ambode, yesterday. The briefing, which was organised under the auspice of the Commissioner for Information and Strategy, Mr. Steve Ayorinde, was attended by the Special Adviser on Urban Development, Mrs. Yetunde Onabolu and the ministry’s Permanent Secretary, Mrs. Bola DapoThomas. Anifowose specifically said the state government had been working with the federal governments on the challenges the location of oil tank farms posed to the residents of Apapa. He noted that the two governments would make a definite pronouncement on the plan to relocate oil tank farms from the residential areas of the Apapa Central Business District. Aside, he said the state government “has placed embargo on approval for construction of filling stations in all parts of the state until we carry out the inventory of the existing ones, noting that the state government would soon end indiscriminate construction of event centres.” Anifowose said this decision was imperative “to take proper inventory of the existing filling stations and determine those that should be removed in a bid to ensure public safety.” He explained the oil spillage that happened in

Alimosho, noting that it “was because of pipeline vandalism. If people have not been greedy to vandalise pipeline, we will not be seeing what is happening. But be rest assured that no permit for filling station in Lagos State till further notice. I have told the General Manager of the concerned agency; the management team of the agency has taken a decision. We will not grant any approval until we take inventory and see what we have.” Anifowose also warned owners of structures under high tension cables to relocate in their best interest as government would spare no effort in removing such illegal structures, adding that event centres illegally located would also be demolished. “When this government came on board, what we did was that we set up a committee and they are going round the State to take inventory of event centres. I like to state categorically that any development that does not comply with the Master Plan of the area of location will be removed. So, our agency is already working on it and they should be able to give us report in the next three to four weeks.” Due to proactive steps and reforms initiated, he said the state government had achieved considerable reduction in building collapse, noting that it was still an offence to carry out any physical developments in any part of the state without approval or permit. The commissioner therefore urged all Lagos residents “to partner with the state government in reporting illegal developments and developers or owners of buildings who cut corners and use substandard materials in construction work. “It is considered a necessity that prospective buyers or tenants should demand for the planning permit or layout approval of a building or estate respectively before down payments is made, to deter developers or owners from circumventing the law.”

Buhari on Economic Affairs, Dr. Adeyemi Dipeolu, urged banks to be more transparent, saying transparency would aid government in its fight against corruption. Osinbajo said: “The reality is that the huge sums of money involved in illicit financial flows which is contributing to rising inequality often moves through the financial system. As issues of beneficial ownership and automatic exchange of ownership come to the fore, banks must prepare themselves to cope and operate profitably as the world moves towards an era of financial transparency. “We expect that the banking and financial sector would support the national economic recovery and growth plan. As most people already know, we recently released our Economic

Recovery and Growth Plan (ERGP) and its objective is to achieve sustainable inclusive growth and achieve a growth of seven per cent per annum by 2020 by focusing on core areas of growth. “We plan to restore growth in the economy and invest in our people while building a globally competitive economy. Our effort to restore growth bares much on the macro-economic conditions accordingly.” According to the vice president, fiscal, monetary and trade policies would be aligned to stimulate the economy and support growth while preventing overheating. He also said sectoral policies were also being implemented in order to diversify the economy by boosting investments in agriculture, manufacturing,

mining and services including construction of the digital economy. Osinbajo said the government realised that success in this regard depends to a large extent on quality of the policy as well as the business environment. He also spoke about efforts by government in improving the ‘Ease of Doing Business’ as well as to simplify the entry and exit documentation requirements for foreigners. The vice-president added: “We took major steps to improve business environment especially as it pertains to the entry and exit of people and goods and to improve transparency in government processes and procedures. In addition to revitalising the economy, the Buhari administration came into office and promised to

tackle security and corruption challenges. While it is a visible and tangible progress, we do realise that there must be a continuous coherent. “The banking and finance sector has a key role to play in supporting our dream. The banking sector is critical to the implementation of our plan. The private sector is expected to play a major part especially through public private partnerships. The banking and the financial sector will be leading sources of private capital expected to complement government investment. We expect that the banking sector should support development financing by utilising the Central Bank of Nigeria’s (CBN) micro, small and medium scale enterprise development fund.”

CONDOLENCE VISIT

L-R: Deputy Speaker, Hon. Lasun Yussuf; Speaker, House of Representatives, Hon. Yakubu Dogara; and Senate President, Senator Bukola Saraki, when the Speaker led a delegation of House leadership on a condolence visit to the Senate leadership over the death of Senator Isiaka Adeleke, at the National Assembly...yesterday

Lagos to Establish Biggest Rice Mill in Nigeria Says 100 farmers benefitted from World Bank

Gboyega Akinsanmi

The Lagos State Government yesterday said it had started constructing Nigeria’s biggest rice mill, which it said, has a capacity to produce at least 16 metric tonnes per hour and 10,000 metric tonnes per annum. When completed by December this year, the state government said the rice mill would significantly help the state to actualise its strategic food security plan, which he said, was designed to end hunger. The Commissioner for Agriculture, Mr. Oluwatoyin Suarau, disclosed this at a news conference he addressed at Alausa yesterday alongside his information and strategy counterpart, Mr. Steve Ayorinde and the Special Adviser on Food Security,Mr. Ganiyu Sanni-Okanlawon. Suarau said the administration of Governor Akinwunmi

Ambode had awarded the contract for the construction of the rice mill with the capacity to 16 metric tonnes per hour, though acknowledged that the state currently had the capacity to produce 2.5 metric tonnes. He explained that the new rice mill was part of the government’s plan to increase food supply; end the vicious trend of food shortage and equally ensure food security across the state. He said the state government “is vigorously implementing its Strategic Food Security Plan with programmes and projects that have remarkable impact on food security in the state.” He added that the collaboration between Lagos and Kebbi States on the development of commodities such as rice, wheat, ground-nut, onions, maize, sorghum and beef “has yielded positive fruits

with the launch of LAKE Rice on December 21, 2016. Since it rolled out LAKE Rice December 2016, the commissioner said the product “has since the launch being on sales at various centres across the State. So far, a total of 32,647 bags of 50kg; 32,539 bags of 25kg and 30,780 bags of 10kg have been sold.” He said no fewer than 100 farmers through the FADAMA III additional financing programme are producing rice at Itokin in Epe Local Government in furtherance of the state government’s effort to engage youths and boost rice production in the state. “In all, rice cultivation has so far improved in the state from less than one ton per hectare to about three tons per hectare with double cropping in some areas where irrigation facilities are provided.” He, therefore, explained

different programmes the Ambode administration had initiated to ensure food security in the state, saying food security “is in the front burner of the administration policies to facilitate job and wealth creation as well as poverty reduction.” He named some of the state’s food security programmes “to include Agric Youth Empowerment Scheme (AgricYES) and the establishment of infrastructural facilities at Songhai-Avia, Badagry under the Agricultural Youth Empowerment Scheme. “We have intensified efforts to establish additional farm estates in Eluju-Mowo and Igbodu respectively to foster public private partnership arrangement. Also we are making efforts to set up a cattle fattening estate in Imota through public private partnership.”

WEDNESDAY, APRIL 26, 2017• T H I S D AY

NEWSXTRA

Fayemi: Coal to Account for 30% of Nigeria’s Energy Mix Says FG set to partner AfDB on coal initiatives

Kasim Sumaina in Abuja In a bid to solve epileptic power supply in the country, the federal government yesterday disclosed that coal powered electricity plant would account for about 30 per cent of the country’s energy mix. The Minister of Mines and Steel Development, Dr. Kayode Fayemi, while disclosing this during a meeting with stakeholders in the mining sector and host communities in Enugu, added that the federal government was equally set to partner the African Development Bank (AfDB) to fund coal projects in the country. According to Fayemi, “While the $150 million World Bank loan recently approved for the sector may not cover coal projects, arrangements have been reached with the AfDB to fund coal projects in order for the country to take advantage of its huge coal reserves to solve its power problems.” He hinted that his ministry and that of power were collaborating on the coal projects which he disclosed that is expected to account for about 30 per cent of the country’s energy mix. He stated that the AfDB funding would be made available to investors who can set up coal power plants that can generate as much as 500 megawatt as well as those who can set up modular plants. “We have an existential need for power in this country and we have to do something about it and we can get power from coal which we have in abundance.

We need people- private sector that would set up plants that will use coal,” Fayemi said, adding that some organisations had acquired coal mining licences and had gone ahead to set up power generating plant to cater for their industrial use. He cited Lafarge Cement and Dangote Group as two of the notable business concerns which had acquired coal mining licences and set up power plants to generate power for their industrial use. The former governor of Ekiti State added that the ministry recently gave coal mining licence to BUA Cement to mine coal in Sokoto and generate power. “Our tour of the coal mines is to ensure that the national assets are put to proper and profitable use. State governments and private businesses would benefit from the coal projects, and environmental safety would also be taken seriously,” he said. The minister was optimistic that with a successful investment in the coal projects the power issue would be resolved. He added that the ministry was in talks with the ministry of work to assist in fixing some of the roads that lead to the coal sites. Also, Fayemi said the federal government is ready to collaborate with state governments and critical stakeholders to revive the mining sector in the country. The minister stated this when he paid a courtesy call on the Governor of Enugu State, Ifeanyi Ugwuanyi, during a tour of mining locations in the state. Fayemi, accompanied by

the Minister of State for Mines and Steel Development, Hon. Abubakar Bawa Bwari, said they were in the state to inspect abandoned and unutilised coal mines with a view to reviving them. “There are about 13 coal mines in Enugu State, some have been privatised while others are abandoned and vandalised. The federal government is concerned about the risk and safety of these abandoned coal

mines and has embarked on environmental audit of the mines to see how they can be made attractive to investors,” the minister said. He solicited the support and cooperation of the state government in bringing back the past glory of coal mining in the country. Ugwuanyi noted that his state is richly endowed with solid minerals but had benefited little or nothing from

its mineral endowments due to illegal mining and non utilisation of mining licences held by some operators he described as “ghost miners”. He stated that many are in possession of mining licences but have not utilised them, there by denying the state of the benefits accruable from the sector. The governor urged the federal government to apply the “use-it-or-lose it” provision

UNVEILING AFRIONE

L-R: Special Adviser on Commerce to Lagos State governor, Adeyemi Olabinjo; Director, Afrione Limited, Sahir Berry; GMD/CEO, Skye Bank Plc, Tokunbo Abiru; Commissioner for Science and Technology, Lagos State, Mr. Olufemi Odubiyi; Managing Director, Afrione Limited, Roheen Berry, at media briefing and inauguration of Afrione production facility in Lagos....yesterday

Calabar Tragedy: PHEDC Donates Relief Materials, National Assembly Mourns Adeleke James EmejoinAbuja Cash to Victims DamilolaOyedeleand

Bassey Inyang in Calabar The Port Harcourt Electricity Distribution Company (PHEDC) has donated relief materials, including drugs and cash to victims of last Thursday’s electrocution at a viewing centre in Nyagassang, Calabar municipality, Cross River State. The donations were made yesterday at the University of Calabar Teaching Hospital (UCTH), where most of the victims are being treated of various degrees of burns, and forms of injuries they sustained as a result of the tragic incident. Aside from the undisclosed sum of money, items donated included honey, beverages, gloves, bottles of water, and standing fans. The company’s Regional Manager, Mr. Joseph Aikowe, who presented the relief materials and cash to the victims, said the money should be used for feeding of the victims who are receiving treatment in the hospital. Aikowe said the donation was in fulfillment of the Group

Managing Director of PHEDC made the last time he visited them in the hospital. “We are here to make some donations to the hospital management will be transmitted to the patients for the good and wellbeing of the patients. “Even though the government has promised to offset the bills, as a responsible organisation, we felt it was necessary for us to play a part in alleviating the sufferings of the people affected by this incident. “We have various drugs as prescribed by the hospital management; almost 15 set of drugs, beverages, water, honey and so on. It may not be too much but it would go a long way to lessen the burdens of the people,” Aikowe said. Receiving the donations, the Chief Medical Director of UCTH, Dr Thomas Agan, said the hospital was grateful for the gesture done to the victims of the electrocution. Agan said the relief materials and the money would be applied strictly to the purposes for which they were meant.

in the Mining Act 2007 and revoke all unutilised licences issued to operators in the state in order to enable serious mining operators acquire mining licences and use them for the benefit of the state. Ugwuanyi commended the minister for inspecting the abandoned coal mines in the state and for holding a stakeholders meeting to interact on how to move the mining sector forward.

then adjourn thereafter,” he said. Senate President, Bukola Saraki, presided over the minute of silence, It was a sombre mood at the National and urged the one lawmakers to Assembly, following the resumption ensure they dress accordingly for from the Easter recess yesterday as the valedictory session. The condolence register placed at senators and members of the House of Representatives mourned the the lobby of the National Assembly, demise of Senator Isiaka Adeleke was signed by several lawmakers. Some lawmakers spoke with whorepresentedOsunWestsenatorial THISDAY on the sad event. district. Senator Philip Aduda (FCT) As practice, both chambers adjourned plenary as a mark of recalled that he and Adeleke had agreed to meet after resumption from respect and honour. Adeleke, the first Governor of Osun recess to discuss issues of interest to the State, died last Sunday morning, in development of the Federal Capital circumstances that have generated Territory (FCT). “The day we adjourned plenary, controversy. Atwo time senator, Adeleke was on our way out of the chamber, Chairman of the Senate Committee we met in the lift and he had the cause to discuss with me issues on Capital Market. The lawmakers eulogised their that would bring development to departed colleague, ahead of a the FCT. Knowing that he was a valedictory session of tributes, to former governor, I listened to him. be held in the Senate chambers today. He said when we resume today At a brief Senate plenary session, (Tuesday) or by Thursday, we would the Majority Leader, Senator Ahmed go and see the minister of the FCT Lawan (Yobe North), moved the to further discuss some issues of motion for the adjournment of common interest to the people in the FCT,” Aduda disclosed. plenary till today. Similarly, Hon. Wole Oke (Osun “Tomorrow (today) by the grace of God, our colleagues will have the APC) described Adeleke’s death as opportunity to pay tributes to our a big loss not just to the people of departed colleague in a valedictory Ede, his hometown, and Osun State, session. I therefore move that we but to the country. Meanwhile, the Senior Special observed a one minute silence and

Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, in a condolence message, said Adeleke was an excellent leader, who showed competence in his assignments and possessed the capacity to carry people along. In a statement, Enang noted that life is transient, and every action taken on earth is transitory. He added that Adeleke, a complete gentleman who was truly distinguished as a governor and senator, pursued every task with vigour. The House of Representatives yesterday suspended deliberations at plenary to pay tribute to the late Senator Isiaka Adeleke who passed on Sunday in his hometown in Osun State. The House described his death as a huge loss to the NationalAssembly and the country in general. The legislators, who had resumed after the Easter break, stepped down all items on the order paper to pay their last respect to the late senator. Reports had it that the deceased may have been poisoned. However, members took turns to pay tribute to the former governor of the state and two-time senator described as the architect of modern Nigeria. The Deputy Speaker of the House,

Hon. Yussuf Suleimon Lasun (Osun, APC) noted that the late Adeleke actually visited his father about 48 hours before he passed on. Lasun, further explained that his family and that of Adeleke were “ very close” to the extent that the deceased considered the deputy speaker’s father as his. Instructively, both Lasun and Adeleke were aspiring to succeed Governor Rauf Aregbesola in next year’s governorship election in the state. According to him:”SenatorAdeleke was the first known Nigerian whose father was a senator and became a governor at the age of 37 and later became senator himself. He was a fantastic politician and had one of the fantastic relationships with his younger brother, Dr Adesoji. “He contested for governorship in 2003, and the primary was conducted on three occasions. In 2007, he became a senator, by replacing his own father, who was a senator of Osun West. “As a good Muslim, when I received the information about his death, I couldn’t talk. It’s on record that about 48 hours to his death, he visited my father, because my father was like a father to him. He came, he saw, but I can’t tell whether he conquered, because I can’t tell if he conquered death.

WEDNESDAY, APRIL 26, 2017• T H I S D AY

NEWSXTRA

Gencos Ask Discos to Prove Their Integrity, Accept Open Revenue Management Chineme Okafor in Abuja The systemic blame games that have come to define operators’ approach to the current challenges in the Nigeria’s power sector, yesterday took a different dimension when the 26 power generation companies (Gencos) called out the 11 electricity distribution companies (Discos) on their opposition to transparent revenue management model as recently proposed by the government. Requesting the Discos to come clean on why they are opposed to the open revenue management which the Nigerian Electricity Regulatory Commission (NERC) said it would set up for the sector, the Gencos alleged that the Discos were increasingly creating lots of suspicions among sector operators on their operational integrity. They had for the first time since taking over the generation assets in 2013, made such sweeping attack on the Discos. The Gencos in fact, openly blamed the financial troubles of the power market on the Discos which they alleged have remained financially irresponsible in their obligations to the market. Previously, the sector’s

buck-passing practice was often shared between the Discos, government, and Transmission Company of Nigeria (TCN), with each of them making counter claims against each other. However, the 26 Gencos said at a press briefing their umbrella body – the Association of Power Generation Companies (APGC) held in Abuja, that the Discos opposition to NERC’s central revenue management initiative suggested that they might be hiding something from other operators. The Executive Secretary of APGC, Dr. Joy Ogaji, said at the briefing that claim by the Discos that the proposal was an attempt by the government to nationalise their operation was unfounded. Ogaji stated that concerns raised by the Discos on the proposal were worrying especially on the basis that the revenue in question belonged to the entire market and just them. According to her: “The recent development to escrow the account of the distribution companies is not just a welcome development but also a wake-up call to all participants in the electricity market. “About a fortnight ago, the Association of Nigerian Electricity

Distributors (ANED) likened such move to centralise their revenue accounts to nationalisation of the Discos. The electricity sector is a value-chain which needs to be remunerated as applicable covering the cost of generation, transmission and distribution.” Ogaji further explained that: “The Gencos are entitled to 60 per cent of market remittance as they not just generate power but also pay for gas supply and gas transportation. Transmission charge cost 11 per cent, distribution gets 25 per cent while the remaining four per cent is meant for regulatory charges and NBET. “The revenue referred to by the distribution companies are not their personal revenue but market funds to which they were made trustees to collect and remit. The poor

remittance of market funds by the Discos has prevented the rest of the electricity value-chain from meeting up with their operations and also service their liabilities which includes gas payments.” Buttressing the Gencos backing of the new proposal, she said: “The need to monitor the flow of market funds has become necessary as this will enable transparency in the market and also give the regulator the ability to identify issues that will progress the sector and act accordingly in advising the government and stakeholders where funds actually needs to be plunged into in order to bring about self-sustenance and competitiveness.” She noted that this would also send the right signals to potential investors and licensed

generation investors to advance their commitments to the sector. She further questioned the Discos’ mindset on the development, saying: “The issue of everyone crying wolf should be fast gone. There have been blame games being played by the various players in the sector; it does not matter whose voice is loudest. “The truth is, the generation companies have in keeping to the terms of their contract, generated power which has been sold by NBET to the distribution companies. What the generation companies want is to be paid fully for power received and sold. If one claims electricity consumers are not paying, let us see the payments transparently.”

“If centralising the payment system is tantamount to nationalising, the question that comes to mind is: what does selling the electricity and keeping the money all to oneself mean? If Discos claim they are not collecting enough, then they should open their books to make it plain for all to see and confirm their story. He who asserts must prove,” she added. Ogaji also disclosed that the huge debts in the books of the Gencos have become major setbacks to their capacity expansion plans. She explained that while their lenders frequently write to them on this, investors have also stayed away from advancing negotiations on financing future capacity expansions.

Dangote, Bill Gates Hopeful About Improving Health in Africa Iyobosa Uwugiaren inAbuja The African richest man, and President of Dangote Group, Alhaji Aliko Dangote and Bill Gate have said that more than 138,000 vaccinators will be carried out across five African countries in the Lake Chad area this week in a push to eliminate polio in Africa and rid the world of this terrible disease forever. In a joint statement issued in New York today, titled “Why we are hopeful about improving health in Africa’’, they promised to take boats across fast-flowing rivers, ride jeeps along sandy ravines, walk crowded street in towns and cities and navigate cramped quarters of refugee camps to ensure that every child is immunized. “Traveling for hours a day, these dedicated women and men will visit children in homes, schools, train stations, and transit points across Nigeria, Niger, Chad, Cameroon, and the Central African Republic,’’ they stated. “This also marks World Immunization Week, a coordinated effort to make sure that people everywhere understand the importance of getting immunized to protect against vaccine-preventable diseases. “And by coincidence, it was almost seven years ago that the two of us first met in a hotel conference room in Abuja, Nigeria’s capital. We were there as part of a diverse group—public officials, religious leaders, business people, polio survivors, and journalists—to discuss how we could work together to stop polio in Nigeria.’’ The statement added that at the

time, Nigeria had done an amazing job tackling polio—reducing reported cases by 95 per cent in just one year, they said it was still circulating in six Nigerian states; while 95 per cent might seem like success, as long as a single child remains infected, children across Africa and around the world are at risk. They added, ‘’Thanks to the effort of so many, Nigeria’s Borno State is now the only place in Africa today where polio is still circulating. It will take ingenuity to end polio there, and it will take persistence to continue reaching children in the surrounding area with vaccines to protect them from the disease until it is eradicated. ‘’But we’re confident it can be done. And when that happens, Africa will celebrate one of the biggest victories ever in public health. Since our first meeting in 2010, the two of us have worked together on a range of other projects to help improve health in Nigeria and across Africa. ‘’We supported the establishment of emergency operations centers in Nigeria and other countries to keep polio from spreading. This turned out to be a blessing during the 2014 Ebola outbreak in West Africa. ‘’When the disease first appeared in Nigeria—an international travel hub that is home to more than 180 million people—the staff of an emergency operations center set up in Lagos jumped into action and stopped the disease in its tracks. It’s almost unimaginable to think what would have happened without them.’’

GOOD NEWS FOR SHAREHOLDERS

L-R: Finance Director, Nigerian Breweries Plc, Mr. Mark Rutten; Managing Director/CEO, Mr. Nicolaas Vervelde; and the Company Secretary/Legal Adviser, Mr. Uaboi Agbebaku, at the 2017 pre- annual general meeting of the company in Lagos....yesterday SUNDAY ADIGUN

Ihedioha Tasks Legislature on Need to Apply Oversight Function in Imo Laments state’s deplorable leadership Amby Uneze in Owerri Former Deputy Speaker of the House of Representatives, Chief Emeka Ihedioha, has taken a swipe at the legislative arm of the Imo State government over it inability to apply the principle of the oversight function as enshrined in the Nigerian Constitution, thereby denying the state the attainment of justice, equity, fairness and accountability in government. Ihedioha, who was also the 2015 governorship candidate of the Peoples Democratic Party (PDP) in the state in addition took a fresh critical appraisal of the performance of the Governor Rochas Okorocha-led administration, lamenting that the state had so far experienced the most deplorable kind of leadership where policy actions are poorly conceived, and implemented with impunity and without consideration of their nefarious consequences. He stated this in a lecture entitled: “The Role of the

Political Class in Realising the Collective Dreams of Justice, Equity, Fairness And Financial Accountability in Imo State,” which he delivered at the 2017 Diocesan Synod of the Diocese on the Lake, Church of Nigeria (Anglican Communion) at St Mary’s Magdalene Parish Oguta. The former federal legislator warned that any government unprepared to accept critical appraisal of its policies is bound to make blunders, even as he faulted government’s decision limiting the working days of civil servants in the state to three and forcing them to use the remaining two days for farming. According to him, “I need to remind us that the attainment of justice, equity, fairness and accountability in Imo State, will remain elusive so far as our Constitution, the very instrument of our federation is applied in breach and until the legislature indisputably oversight the executive for necessary checks and balances, while the judiciary interprets the law without fear

or favour.” He spoke shortly after the presidential address of the bishop of the Diocese, Rt. Rev. Chijioke B.N. Oti, which had the theme “Building in partnership with God.” Relying on available statistics, Ihedioha said Imo has the highest Gross Domestic Product (GDP) among the states in the South-east but which in reality; neither reflects nor bears any impact on the living standards of the average indigene of the state. Ihedioha had in the 2016 Synod of the Diocese of Isi Mbano delivered a paper on ‘Restoring the Confidence of the Citizens in the Political Leadership in Nigeria – a case study of Imo State’ during which he provided the Okorocha administration the opportunity to hear from the people, gauge their opinions regarding his style of governance and his programmes. He argued that the political leadership is placed in a very unique but strong position to galvanise, direct or influence the thinking and actions of the

people. According to him, if the political leadership channels these enormous advantages it possesses into positive uses, the society becomes the better for it as visible beneficial projects would be executed and the people meaningful and gainfully engaged in economic activities. The former Deputy Speaker charged the political leadership to harness and to put in concrete policies, the expectations and choices of the people, their eventual implementation and evaluation to ensure that the right mix of public goods are realised for the benefit of Imo people. He advised the political class in Imo State to resist the temptation to be cowed to abandon its sacred responsibility of holding government to account, saying: “When we are afraid to confront our leaders within their failings, we are encouraging bad governance which transforms into tyranny, rule of whims and caprices and abridgement of liberty.

WEDNESDAY, APRIL 26, 2017• T H I S D AY

NEWSXTRA

NPC Throws Weight Behind Emir Sanusi’s Call for Birth Control Policy

Commission to go ahead with preparations for 2018 census despite opposition

Paul Obi in Abuja The National Population Commission (NPC) yesterday threw its weight behind the Emir of Kano, Alhaji Muhammad Sanusi’s call

for birth control policy, where parents could only give birth to the number of children they can cater for. NPC Chairman, Chief Eze Duruiheoma, gave his support while on a visit to a staff of the

Osinbajo Receives Bangladeshi Army Chief, Calls for Global Co-operation against Terrorism Omololu Ogunmade in Abuja The Vice President, Yemi Osinbajo, yesterday renewed calls for international collaboration in the battle against terrorism, promising that Nigeria will continue to cooperate with the international community in the global fight. Osinbajo who made this call in his office when he received Bangladeshi Chief of Army Staff, General Abu Belal Muhammad, said networking by terrorist groups had increased the need for countries to close ranks in the bid to counter the threats posed by terrorist activities. “We are concerned about terrorism not just within our borders. We have also seen the influence of terrorists across borders and how terrorist organisations have cooperated with each other. “We are aware, for instance, that some within our own borders are cooperating with ISIL and we think that these sorts of evil collaborations must have a response from countries that share similar experiences and can present a credible force

against terrorists,” he said. Osinbajo who noted that “terrorism is a major problem and perhaps the most significant problem that the free world will face in the coming years’,” added that improved cooperation between the Bangladeshi and Nigerian military would go a long way in curbing threats posed by terrorist groups within and around borders of the two countries. “We have benefitted a lot from some of your experiences in fighting insurgency in Bangladesh and we hope that we benefit even more from those experiences. We have had similar problems with Boko Haram and I know that you have also had problems of some sort with terrorist groups within the borders of Bangladesh,’’ he added. Earlier, the Bangladeshi Chief of Army Staff, Muhammad, said the long standing relations between Nigeria and Bangladesh had been helpful in career development of many officers of the armed forces of both countries.

commission, Mrs. Oluwakemi Uduehi, who gave birth to quintuplet (five children) at the National Hospital in Abuja. Speaking against the backdrop of the emir’s call for parents to only give birth to the number of children within their capacity, Duruiheoma stated that “it is not a matter of me subscribing to the emir’s call. The NPC encourages that. “The country’s National Population Policy encourages parents, families to bring to the world as many number of children they can take responsibility for. That is very important.” He argued that though the National Population Policy does not in any way impose the number of children parents could have, it ensures that such parents capablity of taking care of such children remains sacrosanct. “When I refer to National Population Policy, population policy is a document with which population is managed for the purpose of control, which also preaches moderation. “So, let every Nigerian

produce as big a family as you can personally take care of, because you have to be able to take care of them,” Duruiheoma added. On birth and death registration, the NPC boss also informed journalists that the commission “does not pretend that we do not have problems in that area. You know that this country us very vast, therefore, to cover a country of about 900,000 square metres is not an easy task.” He further presented babies items donated by the commission to Mrs. Uduehi. On her part, Uduehi commended the generosity of the NPC leader, thanking the commission for the enormous support her family has received since she gave birth to the quintuplet. Also speaking, the Chief Medical Director, National Hospital, Abuja, Dr. Jaf Momoh, explained that medically, the choice for number of children remains personal preference. Momoh maintained that “this is a matter of personal

choice, and depends on the ability and endowment in terms of material and human resources to help you take of those children.” Meanwhile, the commisson yesterday insisted that it would go ahead with preparations for the 2018 national census despite stiff opposition to the exercise by prominent Nigerians, including the Speaker of the House of Representatives, Hon. Yakubu Dogara. Dogara had earlier this month cautioned the NPC and the federal government to desist from conducting the 2018 national census given the possibility of the exercise being manipulated by politicians ahead of the 2019 general elections. Also, a human right activist, Chief Mike Ozekhome (SAN), had kicked against the 2018 census, warning that it will be prone to crisis and the country could be plunged into sever political upheaval. But speaking with journalists in Abuja on the matter, NPC Chairman, Chief Eze Duruiheoma, held the

commission would continue with its plans and preparations considering that the federal government has not directed that the planned census exercise be halted. “You see, NPC is an agency of the government. Whatever we say, whatever we do, we give it to the government; government reacts and directs us. “The speaker is entitled to his views, any other person is also entitled to his or her views. That is where we are. We are supposed to be an umpire. “We have not been asked not to go on with preparations, so we will continue to prepare. In any case, even if it is to be held in 2020 or 2021, there has to be preparations. I expect the government to direct us,” Duruiheoma added. According to him, “If the census will take place in 2030, there has to be some preparations. Preparation is a regular ongoing thing. “There is nothing like a tune off; it is not election. Even if it is election, you have to prepare for it.”

OAL Appoints New Partners Olisa Agbakoba Legal (OAL) has elevated Victor Akazue Nwakasi and Adebola Sobowale as Associate Partners with effect from April 4, 2017. According to statement issued and signed to THISDAY by OAL, the duo joined the firm in 2005 and 2008 respectively and has

contributed immensely to the growth of the firm. OAL in the statement noted that prior to their appointment; Nwakasi was the head of Corporate and Commercial Practice Unit, while Sobowale was a senior associate in the firm’s Litigation Group with keen interest in commercial litigation

Cherie Noodles Names Nuhu, INSPECTION OF PROJECTS State Governor, Mr. Akinwunmi Ambode (second right); Commissioner for Waterfront Infrastructure Development, Tsamiya as Brand Ambassadors Lagos Mr. Ade Akinsanya (right); Acting Commissioner for Transportation, Prince Anofiu Elegushi (left); and Sole Administrator,

Cherie Noodles, a product of Olam Sanyo Foods Ltd, has signed Kannywood super stars, Ali Nuhu and Aishat Aliyu Tsamiya as its Brand Ambassadors. Both of them will be the face of Cherie Noodles in all brand communication. Ali Nuhu is a Nigerian actor, producer, director, dancer and scriptwriter. Referred to in the media as the “King of Kannywood”, “Sarki Ali” or “King Ali”, he has appeared in hundreds of Hausa Language and English Language films, and earned numerous accolades than any other actor in Kannywood. Aishat Aliyu Tsamiya is a household name in Kannywood. She has featured in many superhit films and earned number of awards.

Speaking about the signing, Marketing Manager of Cherie Noodles, Bola Adeniji stated that “Both Nuhu and Tsamiya are exceptional actors, who are very popular and aspirational in Northern Nigeria. Cherie noodles with its Chicken Pepper Soup & Classic Chicken variants is the favourite Noodles in northern part of Nigeria. This partnership will take brand Cherie to new heights ” Commenting further on the appointment of the Brand Ambassadors, Adeniji said, “We will be engaging these celebrities on different platforms for our brand in the Northern markets. We urge all Cherie consumers and fans of both stars to get ready for an amazing time ahead.”

Bariga Local Council Development Area, Hon. Sanya Osijo (second left); during the governor’s inspection visit to Ilaje Road in Bariga, Lagos....Monday

Court Frees 44 IPOB Members Arrested by Soldiers in Bayelsa A Magistrates’ Court sitting in Yenagoa, Bayelsa State, yesterday freed 44 members of the Indigenous People of Biafra (IPOB) arrested by soldiers attached to the Joint Task Force in the Niger Delta. The court declared that the three-count charge of conspiracy, breach of public peace and unlawful gathering filed against them by the police could not be proven by the prosecution. Penawei Mukoro, the

presiding magistrate, thereafter discharged and acquitted the accused for want of evidence. Mukoro, according to the News Agency of Nigeria (NAN) in her ruling held that all the accused persons had no case to answer as the prosecution was unable to make a prima-facie case against them. The detained members of the IPOB were arrested in October 2016 while meeting at a popular lounge along the Okaka Area

of the state capital. Lt. Col. Olaolu Daudu, the spokesman of JTF at the time, said the soldiers trailed members of the “separatist” group to Lakeview Club along Mabinton Estate, while planning to establish the Bayelsa State chapter of the banned organisation. Mr. Kinsley Nwosu, counsel to the accused IPOB members had argued before the court a “no case submission,” describing

the arrest and trial of the IPOB members as a deliberate attempt to intimidate and violate the fundamental rights of the people to freedom of assembly. He maintained that the Nigerian Police failed to produce a credible witness to substantiate the charges against the IPOB members. “This is a case of serious intimidation. The prosecution could not produce credible witnesses,” he said.

CRIME&PUNISHMENT

WEDNESDAY, APRIL 26, 2017• T H I S D AY

Court Sentences Four Armed Robbers to Death An Osun State High Court yesterday in Osogbo sentenced four persons to death for conspiracy and armed robbery. The convicts, Joseph Moses, 24, Samuel Job, 19, Gideon Ode,

25, and Daniel Abraham, 24, were brought to the court on a four-count charge of armed robbery and conspiracy. The prosecutor, Abdulrahman Temitope, had told the court

I Collected N26m for FaniKayode, Witness Tells Court Hearing on a case involving the erstwhile Minister of Aviation, Femi Fani-Kayode, who is being prosecuted by the Economic and Financial crimes Commission (EFCC), over his alleged role in the mismanagement of funds meant to fight insurgency during President Goodluck Jonathan’s administration commenced yesterday, April 25, 2017 before Justice John Tsoho of the Federal High Court sitting in Maitama Abuja. Arraigned on November 10, 2016, Fani-Kayode, is facing a five-count charge of money laundering preferred against him by the EFCC. He was said to have received through his police aid, one Victor Ehiabhi, the cash sum of N26million paid to him by the former Director of Finance and Administration, DFA, of the Office of the National Security Adviser, ONSA, Shuaibu Salisu on the instruction of the former NSA, Col. Sambo Dasuki (rtd). The transaction was done without going through financial institution as required by the Money Laundering Act. While being led in evidence by counsel to the EFCC, Johnson Ojogbane, Ehiabhi, who testified as PW1, narrated how he received N26million cash on behalf his principal, Fani-Kayode. Ehiabhi and Salisu had through written statements, admitted paying the money to FFK in cash.

“On November 21, 2014, my principal, who was out of town, directed me to stay in town. I got a call from one Mr. Francis, his gardener, telling me that FaniKayode called him and directed that I should accompany two of the domestic staff to pick a message for him from the office of the NSA at the villa. I later got a call from the defendant confirming the directive. “His domestic driver (one Mr. Kenneth) was directed to take Francis, Esther (another domestic help) and I to the villa. At the villa, Francis and Kenneth were asked to stay outside while I and Esther were ushered inside. “The staff we met inside asked ‘who is Ehiabhi?’, I responded that I was the one and I was asked to show my ID card after which he brought out a paper and said I should sign. “At first, I hesitated, but he insisted that since I am a policeman that I should sign on behalf of the defendant. When I signed, he then brought out a cash sum of N26million all in N1000 denomination (mint) which he placed in a Ghana-must-go bag and handed over to me. “When we got home, I called the defendant who directed me to ensure maximum security in his home until he comes back. At about 11p.m. that night, he came back and I handed the money over to him.

Police Arrest Four Robbery Suspects James Sowole in Akure Officers of the Ondo State Police Command yesterday said it had arrested four suspected armed robbers who had been terrorising residents and people of Ore Community in Odigbo Local Government Area of the state. The four suspects, Olamide Ajiboro, Tunde Abidemi, Augustine Olaniyi and Taofik Fatai were arrested by the police after they allegedly invaded the home of one Emmanuel Abenego, of Ajamirorun Street in Ore. The state Police Public Relations Officer (PPRO), Mr. Femi Joseph, who disclosed the arrest of the suspects, explained that the four hoodlums invaded the home of Abenego around 10p.m. He said they were armed with guns and carted away many valuables including handsets valued at N230,000 and some unspecified amount of money. Joseph also disclosed that the men who were also armed with

axes, knives and cutlass also made away with a Toyota Camry car valued at about N2.4million after their operation which lasted for about three hours. The police image maker said detectives from the state command immediately swung into action which led to the arrest of the four suspects some weeks after the robbery. According to him, the four suspects had confessed to the offence and some other crimes within the area. He said: “There was a report from one Mr. Emmanuel Abenego of Ajamirorun Street, Ore, that some armed men invaded his house and made away with some valuables and his car. “Men of the state police command immediately commenced investigation into the robbery which led to the arrest of the four suspects who have been helping our men in their investigation.” He said the suspects would soon be charge to court.

that the convicts committed the offence on October 14, 2013 at about 8p.m. along Kajola expressway in Osogbo. Temitope said the convicts conspired among themselves to rob one Abubakar Rauf of his motorcycle with registration number BDG 896 QB. “The suspects conspired to attack the complainant with a

knife and dangerous weapons collecting his motorcycle. “They injured the complainant and also carted away his Bajaj motorcycle to their house before they were apprehended,” the prosecutor said. Temitope, according to the News Agency of Nigeria (NAN), said the crime committed had been a serial occurrence within

the vicinity which had led to the death and missing of some persons. The prosecutor said the offences contravened Section 6 and is punishable under section 1 of the Robbery and Fire Arm (Special Provision) Cap R11, Laws of the Federation of Nigeria, 2004. Counsel to the accused,

Jimmy Jones, however, pleaded with the judge to temper justice with mercy in her judgment. Delivering judgment, Justice Olubunmi Ayoola sentenced the convicts to death due to the magnitude of their crime, adding that the prosecutor had proved his case beyond any reasonable doubt.

WE ARE BEHIND YOU, ALIYU Some supporters of ex-Governor Babangida Aliyu protesting against his arraignment in court in Minna....yesterday NDLEA Arrests Brazilians for Importing Canned Cocaine Chinedu Eze

Two Brazilians have been arrested by officers of the National Drug Law Enforcement Agency (NDLEA) over unlawful importation of canned, whitish substance that tested positive for cocaine. The suspects were Dias Dos Santos Marcia Cristina, 36, found with 9.400kg of cocaine in her bag and Lima Pereira Erick Diego, 20, found with 14.465kg of cocaine in his bag. A statement from the agency said the suspects who claimed to be tourists were arrested

at the Murtala Mohammed International Airport (MMIA), Lagos with the canned cocaine in the midst personal effects inside their luggage. NDLEA said the total weight of the cocaine seizure is 23.865kg with an estimated street value of about N310 million. “Nigeria-Brazil cocaine trafficking route has gained notoriety over the years; but this is the first arrest of Brazilians with cocaine at the Lagos airport. The tins were factory-sealed such that officers had to cut it open to discover the concealed drugs. “Several canned drugs had been

uncovered at the Lagos airport in the past. This development has not come as a surprise to narcotic investigators because drug cartels are always adopting new strategies of smuggling drugs,” the statement disclosed. NDLEA Commander at the Lagos airport, Ahmadu Garba, said:, “Two Brazilian drug suspects, a male and a female have been arrested with cocaine at the arrival hall of the airport. The arrest took place during the inward screening of passengers on an Emirates flight. The suspects travelled together from Sao Paulo, Brazil. During search operation,

a total of 23.865kg of cocaine was found on them.” NDLEA said it had also concluded arrangement to arraign the suspects in court; however, the suspects said that they were in Nigeria to visit several tourist attraction centres. NDLEA Chairman/Chief Executive, Col. Muhammad Mustapha Abdallah (retd.) described narcotic interdiction at the Lagos airport as impressive and commendable. He stressed that NDLEA Act prohibits narcotic smuggling and called on nations to intensify the anti-narcotics campaign.

Again, Court Acquits Chidi Duru An Abuja High Court sitting in Maitama, yesterday quashed the charges filed by the Economic and Financial Crimes Commission (EFCC) against Hon. Nze Chidi Duru. In his two hours ruling on the preliminary objection filed by Duru, Justice Peter Affen described the suit filed by EFCC as an abuse of court process, vexatious, annoying and meant to embarrass Duru. Justice Affen found that the charges were predicated, connected with and related to the Director General of National Pension Commission (PenCom) Target Examination on First Guarantee Pension Limited which had been previously nullified, voided and vitiated by a court of competent jurisdiction.

The judge also found that the EFCC had earlier withdrawn a similar charge in a Lagos High Court with a clear statement that there was nothing criminal against Duru. He ruled that it was therefore preposterous and only meant to embarrass the respondent (Duru) for the plaintiff (EFCC) to resurrect before the court the case which, in all ramifications, is similar to the one nullified by a court of competent jurisdiction. Commenting on the judgment, counsel to Duru, Smart Iheazor, said: “This particular case, as in the other charges against my client, is simply a ploy by the sacked PenCom DG, Mrs. Chinelo Anohu-Amazu, to unlawfully snatch from him the First Guarantee Pension Limited

(FGPL) in the last six years.” Accusing the sacked DG of PenCom of bad faith, the learned counsel said Justice Donatus Okorowo of the Abuja High Court had dismissed the same charges on June 18, 2012 and upbraided PenCom for acting above the law and ordering that the interim management set up by the regulatory agency be removed. Duru, founder and promoter of FGPL, one of the Pension Fund Administrators (PFA) licensed under the Pension Reform Act of 2004, has had a protracted legal battle with PenCom which is allegedly using EFCC and some disgruntled FGPL shareholders to actualise some vested interest. Duru had accused PenCom

and three other shareholders of collaborating with the regulatory body and working jointly to take away the company from him and 34 other shareholders. Justice Donatus Okorowo of the Federal High Court Abuja, had on August 11, 2011and June 18, 2012 quashed fraud charges filed against Hon. Nze Duru by PenCom and EFCC. PenCom had alleged that Duru defrauded FGPL, a company he founded and nurtured to good financial health until it paid its first dividend to shareholders in 2010 over which PenCom rated it in a commendation letter as the most improved Pension Fund Administrator (PFA) but later turned around to vilify the company founders.

T H I S D AY • WEDNESDAY, APRIL 26, 2017

WEDNESDAYSPORTS

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

Victor Moses Included in BBC Team of the Week Chelsea defeats Southampton 4-2 to go seven points clear at the top Nigeria and Chelsea striker, Victor Moses, and three other Blues players were listed in the BBC Team of the Week released yesterday. The Super Eagles winger whose career was revived with the arrival of Italian Antonio Conte at Stamford Bridge was included in the team of the week following his stellar performance for Chelsea last weekend after his contribution led to the 4-2 defeat of Tottenham Hotspur in the FA Cup semi-finals. Moses featured in the game for 90 minutes, putting in a man of the match performance, including winning the vital penalty that helped Chelsea go into the half time break leading 2-1. His performances under Conte has made him a regular in the team after years of being out on loan from the club during the coaching spells under a number of other coaches. Moses is making the team of the week, assembled by the BBC for the fourth time this season, a sign of how influential and useful he has become for the title favourite. Meanwhile, Diego Costa scored twice as Premier League leaders Chelsea edged closer to the title with victory over Southampton at Stamford Bridge last night. The Spaniard, Eden Hazard and Gary Cahill - all back in the starting XI - got the goals that extended the Blues’ advantage over second-placed Tottenham to seven points. Hazard opened the scoring with a low strike before Oriol Romeu tapped in. Cahill’s header made 2-1

Moses before Costa nodded in and the scored a well-taken second. And in stoppage time, former Chelsea player Ryan Bertrand scored a fine header for the Saints. Blues captain John Terry, who is leaving the club at the end of the season, came on late in the match for Moses to make his first league appearance since November. Spurs can reduce the gap to four points once more with victory at Crystal Palace today. Antonio Conte’s Chelsea team is playing at Everton on Sunday. Team of The Week: (GOALKEEPER) Eldin Jakupovic (Hull City) (DEFENDERS) David Luiz (Chelsea) *Victor Moses (Chelsea)* Gabriel Paulista (Arsenal) Nacho Monreal (Arsenal) (MIDFIELDERS) Christian Eriksen (Tottenham Hotspur) Willian (Chelsea) N’Golo Kante (Chelsea) Dele Alli (Tottenham Hotspur) Kamil Grosicki (Hull City) (ATTACKER) Christian Benteke (Crystal Palace)

Miss Nigeria Takes Green-Girl Project to Okpekpe Race Reigning Miss Nigeria,Chioma Stephanie Obiadi has signed on to run at next month’s International Association of Athletics Federations (IAAF) Bronze Label Okpekpe international 10km Road Race to raise awareness about the Green-Girl project, a Miss Nigeria initiative aimed at empowering young women to become agents of sustainable environment in Nigeria. With this project, Miss Obiadi, also the reigning Miss Anambra 2016 and a student of Nnamdi Azikiwe University who was crowned late last year as the 40th Miss Nigeria will be engaging young people and girls in schools/communities across Nigeria. She will be the second Miss Nigeria to use the Okpekpe road race platform to project a noble cause. Last year the immediate past Miss Nigeria Pamela

Peter-Vigboro Leesi graced the race to raise awareness about breast cancer in conjunction with Sebeccly Cancer Care, an organisation dedicated to cancer prevention and committed to helping more women survive breast cancer in Nigeria. Other celebrities and /or government institutions who have embraced the Okpekpe platform as a credible and veritable platform to create awareness about their projects include the Federal Road Safety Commission who raised awareness about safer roads and the immediate past First Lady of Edo State, Mrs Lara Oshiomhole whose nongovernmental organisation raised awareness and funds for the orphanages. The Okpekpe International 10km Road Race is powered by Pamodzi Sports Marketing, leaders in sports marketing and hospitality business in Nigeria.

Eguavoen at his unveiling as new Sunshine Stars’ handler in Akure… yesterday

Eguavoen Unveiled as New Sunshine Stars’ Coach Shorunmu gets goalkeeper trainer job

James Sowole in Akure The Ondo State Football Agency yesterday in Akure made public the appointment of former Super Eagles’ Chief Coach, Austin Eguavoen, as the new Technical Adviser of Sunshine Stars Football Club of Akure while former Eagles’ goalkeeper trainer, Ike Shorunmu, was also unveiled as the goalkeeper trainer. The unveiling ceremony which was attended by almost all football stakeholders in the state held at the Ondo State

Football Agency office in Akure, The Interim Management Committee of the Ondo State Football Agency led by a former Director General of the National Sports Commission, Otunba Gbenga Elegbeleye, opted for the choice of Eguavoen and Shorunmu based on their track records in the game. “We agreed on bringing Eguavoen and Shorounmu on board to handle this club because of the track records of the two coaches and we believe they can firstly save the club from relegation as well as fair

well in the FA Cup,” the ODSFA boss Elegbeleye disclosed. Speaking on his new challenge at Sunshine Stars, Eguavoen gave reasons while he accepted the job. “I had other offers most recent one from South Africa but I had to shun it for Sunshine Stars because of the long standing relationship I have with Otunba Gbenga Elegbeleye and the respect I have for him. Also, my wife hails from this state so I have no option than to accept this huge task. “I believe with prayers from

everyone and full support too like what His Excellency Governor Rotimi Akeredolu has already assured me, I believe we can all help save this wonderful club from relegation,” Eguavoen pledged. Speaking at the event, Chairman, Sunshine Stars Supporters club, Emmanuel Odunyi, appealed to the supporter to throw their weight behind the new coaching crew. The initial contract is to cover the remainder of this current Nigeria Professional Football League.

Golf: Yusuf Coasts to IBB Captain Cup Victory Olawale Ajimotokan in Abuja Jonah Yusuf defeated all comers to emerge the overall championship of the IBB Captain Cup Tournament in honour of the outgoing Captain Okey Igweh. Yusuf carded 70 nett to win the 18-hole tournament that featured a field of 350 golfers. The field teed off by shotgun format in two groups that filed out in the morning and afternoon.

Some of the hopeful included Plateau State Governor, Simon Lalong, former President of Nigerian Senate, David Mark, Chairman Board of Trustees of IBB, Gen Ibrahim Haruna and former First Lady of Kogi State, Mrs Farida Wada. Several serving and former club captains from across the country were also at hand to celebrate with Igweh, the owner of Bolingo Hotels. Mohammed Suleiman

defeated Remi Olukoya on count-back with 73 nett to win in the men handicap 0-9 category. Tony Azogu won the gross prize for the same category with 87, beating Tunji Adebayo by one shot. Tola Atoyebi finished in third, losing on CB. A. Kokori won handicap 20-28 nett prize with 74 by one stroke over Paul Lassa. H. Wathanafa carded 72 nett to secure the bragging rights among the veterans. Sule

Atawodi finished second while Seyi Lufadeji took the third spot. Sandra Haruna took honours in the ladies handicap flight 11-19 with 80, easing past both Mirabel Edozie and Maven Nanwon. Amina Wilfed beat the pack to win the 0-10 ladies nett prize. Igweh, the youngest captain in IBB Club’s history thanked everyone that supported him and made his tenure a huge success.

Zenith/Delta Principals’ Cup Enters Final Phase The final phase of the of the Delta State Principals’ Cup Football Competition for Secondary Schools sponsored by Zenith Bank, will kick-off on May 2. A total of 25 schools who emerged winners from their respective local governments are to be divided into nine groups for the zonal stage of the grassroots football tourney. Some of the schools expected to compete in the zonal stage

include; Urhobo College, Effurun, Divine Standard School, Ewu, Okpe Government School, Sapele, Iwele College, Koko, Amai Secondary School, Amai, Hussey College, Warri and Faith Academy, Ugbolu. Hideaplux Limited, Warri, the organisers of the event, on Monday explained that these schools would be competing between May 2 and 4 as representatives of their respective

local governments The CEO of the outfit, Tony Pemu, added all arrangements have been concluded for the zonal stage where the eight qualifiers for the next stage would emerge. “We have gone round the schools to monitor their training for the next round. We have also reached out to some political leaders, religious leaders and traditional rulers to support schools in their domain. All is

set for the next round and we expect the boys to exhibit their talents to the world,” Pemu said. The Delta Principals’ Cup Football Competition for Secondary Schools is a rejuvenated tournament. After so many years of ‘no show,’ Zenith Bank revived the event this year. The competition that kicked off on March 16 in Asaba, is scheduled to end on May 19.

WEDNESDAY, april 26, 2017 • T H I S D AY

WEDNESDAYSPORTS

Joshua: My Title Fight with Klitschko is a Whole New Level

Anthony Joshua has said that he will be competing at a “whole new level” when he takes on Wladimir Klitschko in Saturday’s world title bout. The two heavyweights fight for the IBF title and vacant WBA belt in front of 90,000 fans at Wembley. Joshua, 27, insists his 13 weeks of preparation have been “tougher times than I have had in any walk of life”. Klitschko, 41, lost his heavyweight title to Tyson Fury in November 2015 - his first defeat in 11 years. In an interview at his Sheffield training camp before the biggest fight of his career, Joshua spoke about his motivation, being a “man of the people”, the state of British boxing, and his family. Joshua, unbeaten in 18 fights since turning professional in 2013, said he is not worried about his safety in the ring because of the intensity of his training before the fight. “I’ve been pushed to places I’ve never been pushed before,” said the Briton. “I think I take more punishment in the gym than I do in the fights. Sometimes I try things and it doesn’t work and I’ve broken my ribs, my hand, dislocated shoulders in the gym but we get it right for the fight. “One of the main things is his mindset at the minute. He claims he is obsessed and I ask ‘What is he obsessed about?’ I look at myself in the mirror and it is about beating me. “I’ve lived simple. I’ve been training under the dark light so I can shine under the bright lights on April 29.” Joshua had numerous incidents with the police as a youth, including being arrested for ABH, drug possession and being electronically tagged. He has previously stated that he would have been in jail were it not for boxing. But Joshua said: “I’ve had tougher times in the gym than I have had in any walk of life at the minute. “I put myself through it and it is important to because I don’t want to be star of the gym and then when I get to the fight it’s like: ‘I’ve never faced this type of warrior before.’” Asked if this is the defining fight of his career, Joshua replied: “It is one of them. If this was towards the end of my career, I would say: ‘This is the defining fight that’s going to write the history books.’ “But I’ve still got so many more years. I’m confident. I’m learning about myself, so this fight is, for me, one fight that I’ve got to take in my stride round by round and when I take that attitude the victory comes and we move on and there are so many other big fights in the UK.” Joshua says he does not believe Klitschko has underestimated him, saying: “He’s coming game, he’s coming ready, and the body does what the mind tells it. His mind seems to be in the right place so I’m in for a tough fight.” “I may not express myself flashing what I’ve done and telling everyone I’m the greatest,” he said. “Where we grew up, everyone was about making money, but low key, understated - you probably didn’t want to get your house

burgled! “Who I am when I was 17 is who I am today, so not much has changed. “You’ve got to add a bit of flavour. It’s needed now and again, but it’s got to be real because I don’t take boxing as an act. This is way of expressing myself and being true to myself and there are kids watching so you’ve got to be mindful. “If I was to be that type of person - loud and trashing tables - after a fight, I would still continue to be that way. What I notice about fighters is they act a certain way and once the fight has started they are hugging each other and are quiet. “I’m just trying to be myself on camera, in the ring, outside of the ring and off camera.” Asked about being very accessible, Joshua says: “It’s part of boxing. It is good to lock yourself away but I’m a man of the people, it’s no bother. As long as it doesn’t make me late for training, I’ve no problem speaking to 100 people. “I’m in the same flat that I’ve been in since 2011 - it’s been a long time. I think I’ll be one of those guys who will learn the piano, the violin, bungee jump and do all the things I didn’t do when I was fighting. “When I’m not fighting, I try to take a holiday and experience things, but when I’m fighting the simple life has worked and I don’t try and change it.” “I was on the complete opposite end of healthy living before boxing, it’s got me strong,” he said. “I’m a superhero to my little cousins. It’s what it does for my family and my surname Joshua. “People are proud to wear that name and I’m representing my family. It is nice to have kids supporting you. It’s reaching out to a wider audience. “I’m just a normal person. You have your good days, your bad days, you have road rage, everyone goes through it. “You’ve just got to live by the job you do and if that’s what comes with it I’d rather choose winning over anything.” Joshua, who turned professional after winning gold at London 2012, said: “When I first turned professional, no-one would touch me sponsorship-wise and no-one was really backing boxing. “I say look at the characters of the sport, look at the individuals, get behind the gloves.” He praised fellow Brits Tyson Fury, who won the heavyweight title with a win over Klitschko in November 2015, Dillian Whyte, the WBC International heavyweight title holder, former British and Commonwealth heavyweight title holder David Price and Dereck Chisora, who challenged for the WBC heavyweight title in 2012. “As I’ve been in the game, Fury won, Dillian, myself, Chisora the likes of Price, upand-coming heavyweights and lighter weights - it’s definitely brought more attention.” Asked if he was worried about his mum watching his fights, Joshua answers: “No, no, no, definitely not. Because she’s proud, she’s happy and I look after her so I think that’s the main thing. “I’ve got a son and I definitely wouldn’t want him to fight because of those reasons, his

health, it’s tough. “I did it quietly. When I first started fighting, I didn’t tell my family. It was just about me and

what I wanted to do. “My mum has always seen the positive light of fighting rather than the health issues and I’ve

always been on the road to winning and glory. “She’s had a few tough times and a few scares when I’ve lost

as an amateur, but we bounce back, and for all the good times she’s forgot about the bad times we’ve had.”

Enrique: I’ll Cherish Messi Memories Barcelona boss Luis Enrique insisted yesterday that he will revel in his memories of coaching Lionel Messi, rather than miss him when he steps down at the end of the season. Messi blew the La Liga title race wide open once more by scoring twice to bring up his 500th Barcelona goal in a thrilling 3-2 win at Real Madrid on Sunday. However, Enrique will only be in charge of Messi for six more games as Barca aim for a La Liga

and Copa del Rey double. “I always look on the bright side, said Enrique. “That has been being able to be with him for three years in the first team and to be able to enjoy and see infinite things with my own eyes.” Victory at the Bernabeu brought Barca level with Madrid on 75 points at the top of the table. Real still have the upper hand as they have a game in hand. But despite both sides

appearing to have manageable run-ins, Enrique expects more twists and turns in the final month of the season. “There will be surprises for sure,” he added. “Results that no one expects and we have to be prepared so that we don’t slip up.” Barca can put more pressure on their title rivals as they host rock bottom Osasuna on Wednesday a few hours before Madrid travel to Deportivo la Coruna.

And Enrique is hoping to build on the momentum gained by Messi’s strike with the last kick of the game to snatch all three points from El Clasico. “Clearly it has an important psychological value. “It was a huge confidence boost and serves as a stimulus to face up to the rest of the season. “It is evident that we have to be very consistent for the run-in to the end of the season.”

Ajaero, Achese Set for Workers Day Soccer Battle It won’t be all talks and no actions as Nigerian workers join their counterparts in the world to celebrate this year’s Workers Day. Indication to this effect emerged early this week following the conclusion of plans by labour officials to organise a novelty soccer match that would see the Comrade Joe Ajaero led National Union of Electricity Employees (NUEE) doing battle with Achese’s National Union of Petroleum and

Natural Gas Workers (NUPENG). The novelty match billed for Sunday April 30 is billed to kick off by 3pm at the Legacy Pitch of the National Stadium, Surulere, Lagos. Chairman of the Main Organising Committee, Didi Adodo, told the media in Lagos that the novelty game is aimed at bringing workers together to catch fun and keep fit, even in the face of recession.

“We are putting together the novelty game as a way of making workers relax as we celebrate May Day. The essence is to come together as members of one family, even as we continue to fight for a better package from employers of labour both in the public and private sector,” Adodo said. NUEE Scribe Ajaero who disclosed that he is ready to take to the pitch pointed out that workers need to take embark

on recreational activities to stay healthy. “Given the challenges workers face at work on a daily basis, we need to do sports to remain healthy. This is why we are playing football as part of the May Day festivities. As we speak, my team, NUEE Bombers is set to shock NUPENG Warriors on the pitch. We will prove to them that without electricity oil wont flow,” Ajaero said.

Winners Golden Bet Introduces Global Jackpot Football betting is taking a new dimension as foremost betting company; Winners Golden Bet has introduced a new product into its menu. Stakers now have the opportunity to take part in the global jackpot. Stakers now have a chance to win the jackpot in addition to their regular winnings. The company also announced the acquisition of a new satellite which will enhance the clarity of signals and agents would not need to get internet to access

the signals. Addressing the press in Lagos Monday, Chairman of Winners Golden Bet, Idowu Obasa, said whoever wins the global jackpot would be paid in Euros. “We are waging in all countries where eBet is operational and because we are in a competitive market we have to introduce this product as a direct response to the numerous complaints we get from our customers,” he noted.

Continuing he said, “we offer a large selection of sporting events, particularly in popular football league matches, virtual games and their pre-match bet types ranging from a single bet to multiple bet lines on a slip. “The Live Bet offers our customers opportunities to predict what happens next during live football matches. All one needs to do is enter his sport type and league of interest, will have all the options on display.” Danko Vokovic, a soft wear

designer from Serbian also took time to explain why the global jackpot could be won by a Nigerian. “We have been able to improve our products like the virtual football to make it easier for the stakers. With the huge market Nigeria provides, the chances of a Nigerian winning the global jackpot is high,” he said. Other products, according to officials of the company include the virtual football game, dog race, etc.

Polo Stars Celebrate Rivers Golden Jubilee Polo players from across the country gathered in Port Harcourt at the weekend for the Rivers @ 50 Polo Tournament hosted by the Port Harcourt Polo Club. Rivers State Governor, Nyesom Ezenwo Wike, represented by the Secretary to the State Government, Hon. Kenneth Kobani during the polo tournament stated that the

popularity of polo as a sport is growing across the state. The governor said that Polo is no longer a sport exclusively for the elite as it is now a sport for all lovers of competition. He said: “As a government that believes in doing things for the generality of the populace, the Rivers State Government is

proud to be associated with Polo. “Port Harcourt Polo Club in its own unique way, put up the Golden Jubilee Polo Tournament to celebrate Rivers State @50. Wike assured the Port Harcourt Polo Club of the continued support for the sport, noting that awareness for the game will be heightened.

He appealed to the people of the state to support all aspects of the Rivers Golden Jubilee Celebration. Kobani handed out prizes and trophies to winners at the polo tournament. He was assisted by the Alternate Chairman of the Golden Jubilee Celebration Committee, Chief Onueze Okocha, SAN.

T H I S D AY WEDNESDAY APRIL 26, 2017

Wednesday April 26, 2017

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MISSILE

Ikanya to Wike, Fayose

“It is sad and shameful that a frustrated and disgraceful group with Wike and Fayose as the key actors should attempt to tarnish the hard-earned reputation of Amaechi just because he collaborated with other patriotic Nigerians to oust a regime that is now exposed as the most corrupt ever in the history of Nigeria” – Dr. Davies Ikanya, Chairman Rivers State All Progressives Congress (APC), rubbishing attempts by Governors Ayodele Fayose and Nyesom Wike of Ekiti and Rivers states respectively to link Minister of Transportation, Chibueze Amaechi to the $43m discovered in one of Ikoyi tower flats.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Of Critics and Human Development

t was grim news again recently when the United Nations Development Programme (UNDP) launched the 2016 Human Development Report. On the table of Human Development Index Nigeria is ranked 152 out of 185 countries surveyed for the indicators of progress. Relatively, Nigeria was even better rated in 2014 to be in the 151st position. The country is, of course, in the unenviable league of other poor African countries. Nothing illustrates the fact that Africa is being left behind in the global journey of development more than the ranking in which those in the 170th to 185th position, the last, are all African countries. Norway is rated to have the highest human development index in the world while Burkina Faso has the lowest. This report is eminently worth pondering in the light of the legitimate criticisms of the style and substance of economic management of the administration of President Muhammadu Buhari. It is also instructive that prominent among the critics are those who once had the opportunity to shape policy for public good but failed to do so because of their ideological orientation and other reasons. When some of the trenchant critics were in the saddle, their policy orientation did not suggest that they would agree with the director of the Human Development Report Office (HDRO), Selim Jahan, when he posited at the launch of the report that “ every human being counts and every human life is equally valuable.” To overcome Nigeria’s development delay, the strategy of development that should be embraced is the one that is informed by this HDRO’s simple credo. The indicators used in the latest ranking include healthcare, education, jobs, human security, gender, environment, communication, mobility and poverty in general terms. The issues remain the basic ones – school enrolment; girl-child education, communicable diseases (such as the recent outbreak of meningitis); air

Buhari

pollution; sanitation, potable water etc. Inequality markedly defines the access of members of the population to those things that count for human development. And policy choices determine whether a majority of the population would have access to these necessities of good life. The negative trend has been there for decades now. The present condition is actually the cumulative result of not taking a propeople path to development. The paradox of the Nigerian situation is that the critics are not in any fundamental disagreement with the government on the strategy of development that Nigeria has pursued (or failed to pursue). The consequence of taking this path of development is this shameful rank in human development. Basically the same ideas informing policy today were the same ones that informed governance when some of those critics were in charge of policy conception and execution. That

Some honest liberal observations have been made about the nation’s socioeconomic problems. However, only a radical probing would get us to the root of the matter

is why most criticisms focus on selling of assets, exchange rate, growth rates, size of the economy, endorsement of International Monetary Fund etc. The critics are concerned about how far the government can go with privatisation or liberalisation. They are worried about how the government should proceed in that direction. The critics are not focussing on the trend in which quality healthcare and education are increasingly becoming commodities that only a few could afford. For instance, the education sector is becoming a big industry where market forces are expected to allocate quality education to the children of the poor and the rich. This does not feature prominently in the mounting criticisms of governments at all levels. A nation cannot be said to be doing well in human development when a majority of its people lacks these basic services in the social sector. That is an index of inequality. Universally, inequality has been identified as a social plague. Nigeria continues to be rated low in human development because as a matter of policy social spending is not a priority. But hardly do you hear that from the economic experts criticising the government. Yet the government has to increase social spending to reverse the trend of inequality. In fact, an intellectual attack on the festering inequality is not a favourite theme of the critics. It is as if the critics are oblivious of the consequences of unchecked inequality on the overall economic development as well as social justice. Perhaps, the criticisms themselves deserve a critique so that the critics are also held accountable. This could help in focussing the criticisms on why economic management has failed to enhance human development. The critique is to draw attention of the critics to a troubling question: why can’t poverty eradication be the focus of governance at this time? Take a sample. After eight years of opportunity to reshape the political economy for “the greatest good of the greatest

number,” a former president struts all over the place admonishing that youth unemployment “is a time bomb.” Meanwhile, there is no addendum of the millions of jobs created as a result of the strategy of development he adopted while in power to accompany this pontificating. Yet no one bothers to ask this leader if the bomb that he has just identified was planted in the social space only last night. Former Central Bank governors are warning against the risk of economic collapse. But they fail to tell us how monetary policies during their tenures energised the real sector to create jobs in millions. These former public office holders get away with their grandstanding because here is a nation where no one bears responsibility for why development has remained a dream in this land when it has become a reality elsewhere. People who have held public offices should be held accountable for their record of performance especially when they elect to lecture us on the same problems they failed to solve. Besides, the criticisms do not get to the root of the problem. Critics attack consequences of a wrong approach to development. They do not question the strategy of development itself. The problem at hand requires more radical questions to be posed on why things remain the way they are at present. Some honest liberal observations have been made about the nation’s socio-economic problems. They should be commended. However, only a radical probing would get us to the root of the matter. Remarkably, the 2016 Report emphasises the element of “national policy matrix” for human development. An element of the matrix in the Nigerian context is the outlook of policymakers who are to design and implement a strategy of development. The greatest worry should be that fundamentally nothing has changed in terms of a strategic approach to development. All told, socio-economic debates should also focus on human development.

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