WEDNESDAY 30TH JANUARY 2019

More Foreign Investors Eye Acquisitions in Nigeria’s Insurance Sector Goddy Egene Strong indications have emerged that more foreign investors are eying acquisitions in insurance sector by investing in companies they perceive can fetch significant returns.

Some market operators,

who have links to insurance sector, told THISDAY that following the low prices of some insurance stocks and the recent acquisition of 29.9 per cent stake in NEM Insurance

by Advanced Finance and Investment Group, more foreign investors are making enquiries

about the fundamentals of firms in the sector.

According to a stockbroker, who said his company is currently facilitating investment talks between foreign investors and a Nigerian insurance firm, the outlook for the sector is positive.

“As you are aware, insurance stocks are very affordable now since the Nigerian Stock Exchange (NSE) introduced a new pricing methodology and par value rule January last year.

“Some foreign investors had targeted some insurance firms to acquire before the

new recapitalisation policy of the National Insurance Commission (NAICOM) stopped them. However, after the recapitalisation was cancelled, the investors are making their way back to the negotiation table,” the operator said.

He explained that some of the investors were prior to the botched recapitalisation exercise, actually waiting to see firms that would meet the recapitalisation policy before it was cancelled by the industry Continued on page 8

Atiku Lists Infraction of Constitution by Buhari … Page 9 Wednesday 30 January, 2019 Vol 24. No 8687. Price: N250

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TI Scores Buhari’s Anti-corruption War Low Chineme Okafor, Kasim Sumaina and Udora Orizu in Abuja Citing over-bloated contract costs, abuse of security votes, and the recalcitrance of the federal government to try certain persons found culpable

in corruption-related charges, among other sundry pitfalls, the global anti-corruption watchdog, Transparency International (TI), has declared that efforts by the President Muhammadu Buhari-led administration to checkmate corruption in Nigeria have yielded no improvement

so far.

Nigeria occupies the 144th position out of 180 countries polled in the latest (2018) global Corruption Perception Index (CPI), released yesterday.

In 2017, the world anticorruption watchdog ranked Nigeria 148.

TI linked the country's unenviable rating to overbloated contract costs, abuse of security votes, and the recalcitrance of the government to try certain persons found culpable in corruption-related charges, among others.

The report noted that in spite

of a number of positive steps by the administration in the past three years, including the establishment of a presidential advisory committee against corruption, improvement of the anti-corruption legal and policy framework in areas like public procurement and

asset declaration, and the development of a national anti-corruption strategy, among others, these efforts have clearly not yet yielded the desired results.

TI's CPI stated that although Buhari campaigned in 2015 Continued on page 6

NJC Gives Onnoghen, Muhammad Seven Days to Respond to Petitions

Lawyers’ boycott of courts records partial success Agbakoba asks NBA to strip Umar of practice licence Group applies to CCB for Acting CJN’s asset declaration form Davidson Iriekpen in Lagos and Alex Enumah in Abuja The National Judicial Council (NJC) yesterday rose from its emergency meeting in Abuja and gave suspended Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, and the acting CJN, Justice Ibrahim Muhammad, seven days to respond to petitions written against them.

Also caught in the wave of petitions is the Chairman of the Code of Conduct Tribunal (CCT), Mr. Danladi Umar, whose matter was referred to the Federal Judicial Service Commission (FJSC) for consideration.

Umar also has a formal complaint to attend to at the Nigerian Bar Association (NBA), where a former president of the association, Chief Olisa Agbakoba, has filed a demand for the withdrawal of his practice licence.

However, Justice Onnoghen has appealed the ruling of the Code of Conduct Tribunal, ordering his suspension.

Meanwhile, a boycott of courts directed by the NBA over the controversial suspension of Onnoghen was partially successful.

The NJC had on Sunday summoned the emergency

meeting to look into the constitutionality of the suspension of the CJN. However, at the meeting held yesterday at the NJC's Secretariat in Abuja, both Continued on page 9

TOP GAINERS REDSTAR UPDC WAPIC PZ ABCTRANS TOP LOSERS ACADEMY NEIMETH LINKAGEASSURE

NGN NGN 0.50 5.50 0.15 1.72 0.03 0.42 0.85 12.15 0.02 0.31 NGN 0.05 0.45 0.07 0.63 0.06 0.56 IKEJHOTEL 0.16 1.52 VERITASKAP 0.02 0.22 HPE Nestle Nig Plc ₦1,450.00 Volume: 359.511 million shares Value: N1.912 billion Deals: 3,773 As at yesterday 29 /1/19 See details on Page 31

% 10 9.5 7.6 7.5 6.9 % 10 10 9.6 9.5 8.3

HEART OF RESOURCE CONTROL… L-R: Deputy Governor, Bayelsa State, Rear Admiral John Jonah (rtd); National Chairman, Peoples Democratic Party, Prince Uche Secondus; the party’s presidential candidate, Alhaji Atiku Abubakar; and Governor Seriake Dickson, during the PDP presidential rally in Yenagoa…yesterday

House Approves N30,000 Minimum Wage … Page 8

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WEDNESDAY, ÍťÍ¸Ëœ ͺ͸͚Π˞ T H I S D AY

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House Approves N30,000 Minimum Wage Adjourns till February 19 NLC hails lawmakers, urges Senate to concur Onyebuchi Ezigbo and Shola Oyeyipo in Abuja The House of Representatives yesterday amended two provisions of the New National Minimum Wage Bill forwarded to it by President Muhammadu Buhari, and approving N30,000 as the lowest wage payable to workers in the country.

By the decision, the House has overridden the National Council of State which had approved N27,000 as the new national minimum wage for Nigerian workers.

In a swift reaction, the Nigeria Labour Congress (NLC) has welcomed the passage of the N30,000 new minimum wage bill, urging the Senate to quickly align with the House of Representatives to adopt the amount as the new national minimum wage.

While the minimum wage bill was passed for third reading, the 2019 Appropriation Bill was also passed for second reading and referred to the standing committees led by the Committee on Appropriations for further legislative action.

This is as lawmakers in the lower chamber joined their Senate colleagues in over three week-long recess to attend to their re-election campaigns.

Adopting the report by the ad-hoc committee set up on the New Minimum Wage Bill, which held a public hearing Monday and presented the report to the House, the lawmakers altered two of the 17 clauses contained in the bill.

The green chambers held a public hearing on the new Minimum Wage Bill on Monday where the organised labour, workers in the civil service and the private sector made contributions on the bill sent to the National Assembly by President Buhari last Wednesday.

Though the clause 3(1) of the bill had provided that “As from the commencement of this bill, every employer, except as provided for under the bill, shall pay a wage not less than a national minimum wage of N27,000 per month to every worker under his establishment,� the ad-hoc committee presided over

by Deputy Speaker, Hon. Lasun Yusuf and which had the Speaker, Hon. Yakubu Dogara and other members of the committee in attendance recommended N30,000 minimum wage.

Also clause 10(2)(a), which provides that "Any employer who fails to comply with the

provisions of sub-clause (1) of this clause commits an offence and is liable to (a) a fine not exceeding N5,000 (b) an additional penalty not exceeding N10,000 for each day the offence continues," was amended.

Rather than the N5,000 recommended by the presidency, the committee recommended "a fine not exceeding N75,000 while the (b) part was retained.

The National President, Nigeria Labour Congress, Ayuba Wabba, who addressed the ad-hoc committee on behalf of workers had pressed for amendment of five clauses in the president's minimum wage bill.

First and foremost, the workers wanted N30,000 minimum wage, insisting that it was the position collectively agreed upon by the tripartite committee set up to look into the issue of the new minimum wage.

Though they agreed to a four-year circle for the review of the wage, they wanted periodic reviews in case of a major economic issue that will reduce or affect the value of what may be the current minimum wage.

They also wanted the

issue of threshold that says employers with less than 25 employees could be exempted removed and that future reviews should be done by a tripartite committee as was done previously.

The lawmakers were unanimous in their support for the N30,000 recommended by the ad-hoc committee.

Commenting on how the ad-hoc committee arrived at its position, Lasun said: “Sometime last week the executive sent a bill to amend some sections of the principal act of the minimum wage act, of which one of the most important amendments that we are about to carry out is moving the minimum wage from N18, 000 to N27, 000 that was recommended in the bill. “Yesterday (Monday), we had a public hearing which was aired live and it was there and then that we realised that the tripartite committee that was set up by Mr. President actually did recommend N30, 000 as the minimum wage. It was a public hearing that was well attended. “They all presented their reports but of importance was the report of the tripartite committee, which of course formed part of the attachment

that was used in reaching this final position. And I want to quote Mr. Speaker; when you were delivering your speech yesterday to declare the hearing open, everybody believes that a worker must have a living wage called the minimum wage. Everybody is of the opinion that the time is right and that it is even overdue.

So, in the executive bill that the executive sent, the only thing that was touched is the minimum wage itself.�

He, however, underscored a fundamental issue relating to taxation as the existing tax law will consequently make some workers earning N30,000 come under the tax net.

According to Lasun, “A question was asked yesterday (Monday), which the Minister of Finance appropriately answered.

Now that the minimum wage is N30,000, and because of that the person who is earning the minimum wage will now be earning more than N200,000 per annum. Is it taxable?

And the Minister of Finance answered in the affirmative; that the tax law says that if you earn about N200,000, then you will be taxed. “Nigerian public should know this, because from the past when it was just

corruption efforts,� the report noted.

Notwithstanding subSaharan Africa’s overall poor performance, the CPI said there were a few countries that pushed back against corruption, and recorded notable progress.

It said: “Two countries – CĂ´te d’Ivoire and Senegal – are, for the second year in a row, among the significant improvers on the CPI. In the last six years, CĂ´te d’Ivoire moved from 27 points in 2013 to 35 points in 2018, while Senegal moved from 36 points in 2012 to 45 points in 2018. “These gains may be attributed to the positive consequences of legal, policy and institutional reforms undertaken in both countries as well as political will in the fight against corruption demonstrated by their respective leaders.â€?

According to it, in the last few years, several countries experienced sharp declines in their CPI scores, including Burundi, Congo, Mozambique, Liberia and Ghana. “In the last seven years, Mozambique dropped 8 points, moving from 31 in 2012 to 23 in 2018. An increase in abductions

and attacks on political analysts and investigative journalists creates a culture of fear, which is detrimental to fighting corruption. “Home to one of Africa’s biggest corruption scandals, Mozambique recently faced indictments of several of its former government officials

by US officials. Former finance minister and Credit Suisse banker, Manuel Chang, is charged with concealing more than US$2 billion dollars of hidden loans and bribes. “Many low performing countries have several commonalities, including few political rights, limited press freedoms and a weak rule of law. In these countries, laws often go unenforced and institutions are poorly resourced with little ability to handle corruption complaints.

In addition, internal conflict and unstable governance structures contribute to high rates of corruption,� the CPI report further stated.

The Executive Director of CISLAC, Auwal Musa Rafsanjani, who presented the 2018 CPI in Abuja Tuesday, said: "The public image of the anti-

N18,000 those at that level were not taxed. But once this one is assented to, that means everybody will now be taxed. That now depends on the tax authorities, maybe to come forward with some sort of amendments in their tax law, to see if we can provide succor for the people at that level.�

NLC Hails Lawmakers, Urges Senate to Concur Meanwhile, the NLC has welcomed the passage of the N30,000 new minimum wage bill by the House of Representatives.

The congress urged the Senate to quickly align with the House to adopt N30,000 as the new national minimum wage.

While reacting to the passage of the bill last night, the General Secretary of NLC, Peter OzoEson, said the legislators had lived up to the expectations of Nigerians.

However, the NLC scribe raised issues with the aspect of the bill that tended to exclude some categories of workers.

For instance, Eson said the exclusion of employers with less than 25 employees could lead to abuse.

TI SCORES BUHARI’S ANTI-CORRUPTION WAR LOW to tackle corrupt practices in government’s businesses, and won the presidential election by defeating an incumbent president for the first time in Nigeria’s political history, his subsequent anti-corruption policies and strategies have clearly not yielded any results.

In the newly-released CPI published in Nigeria exclusively by the Civil Society Legislative Advocacy Centre (CISLAC), TI revealed that Nigeria scored 27 out of 100 points in 2018, maintaining the same score as in 2017.

In the new report, TI said Nigeria was one of the five African countries under its close watch with regards to political developments in them.

Others on the watchlist are South Africa, Angola, Botswana and Kenya. “With a score of 27, Nigeria remained unchanged on the CPI since 2017. Corruption was one of the biggest topics leading up to the 2015 election and it is expected to remain high on the agenda as the country prepares for this year’s presidential election taking place in February. “Nigeria’s Buhari

administration took a number of positive steps in the past three years, including the establishment of a presidential advisory committee against corruption, the improvement of the anti-corruption legal and policy framework in areas like public procurement and asset declaration, and the development of a national anti-corruption strategy, among others. However, these efforts have clearly not yielded the desired results. At least, not yet,� said the TI report.

It added: “Angola, Nigeria, Botswana, South Africa and Kenya are all important countries to watch, given some promising political developments. The real test will be whether these new administrations will follow through on their anti-corruption commitments moving forward.�

Generally, TI, explained that the 2018 CPI presented a largely gloomy picture for Africa with only eight of 49 countries assessed, scoring more than 43 out of 100 on the index.

It noted that the poor result was despite commitments from African leaders in declaring 2018 as the African Year of

Anti-Corruption. This, it explained, has yet to translate into concrete progress.

In specifics, Seychelles, it noted, scored 66 out of 100, to put it at the top of the region, followed by Botswana and Cape Verde, with scores of 61 and 57 respectively.

At the very bottom of the index for the seventh year in a row, it said Somalia scored 10 points, followed by South Sudan (13) to round out the lowest scores in the region. “With an average score of just 32, sub-Saharan Africa is the lowest scoring region on the index, followed closely by Eastern Europe and Central Asia, with an average score of 35. “Sub-Saharan Africa remains a region of stark political and socio-economic contrasts and many longstanding challenges.

While a large number of countries have adopted democratic principles of governance, several are still governed by authoritarian and semi-authoritarian leaders.

"Autocratic regimes, civil strife, weak institutions and unresponsive political systems continue to undermine anti-

corruption campaign in Nigeria is tarnished domestically and internationally with extremely slow progress to move on numerous anti-corruption commitments made by the government.

"With the inability of the present administration to stop political boycott of key appointments and pass the much needed legislation such as the proceeds of crime bill and to implement the recommendations given at thelaunch of the CPI 2017, it is not wonder that Nigeria's score in 2018 is no different from 2017.

"Lack of progress in the fight against corruption as testified by this year’s edition of the CPI is a direct consequence of unaccounted funds siphoned under the guise of security votes by highly placed public officials, including lip service in initiating charges against those already implicated in corruption related offences," he said.

He also faulted the Whistleblower policy of the federal government which Continued on page 9

MORE FOREIGN INVESTORS EYE ACQUISITIONS IN NIGERIA’S INSURANCE SECTOR regulator. “Now they are preparing to return because the recapitalisation burden has been removed and their value on the stock market look very attractive. That is why investors are now looking at some of the companies for possible acquisition,� he said.

However, THISDAY checks showed that such discussions are ongoing, acquisitions may not crystalise until the second half of the year.

Over 14 stocks out of the 26 insurance on the NSE currently are trading below 50 kobo par value. Market

analysts said although the lower prices offer new entry opportunities in some of stocks, investor apathy for insurance stocks are basically caused by two major factors. “Investors’ low demand for insurance stocks stemmed mostly from their poor corporate performance, which often makes them to pay low dividends. Besides, low awareness about their operations equally discourages investors from the sector,� a stockbroker, Mr. Ayo Oguntayo, had said.

According to him, while some insurance companies

have strong fundamentals and have put in place strategies to deliver improved returns to shareholders, most potential investors are not aware of such prospects.

While some of the companies were afraid of hostile take-over by corporate raiders, it was gathered that their attitude is beginning to change given the fact the competition in the industry is getting tougher. “To succeed, you need technical and financial support, which can best be provided by foreign firms that have the experience and financial firepower. That is why the local

operators are now welcoming acquisition talks,� another operator said.

Some insurance operators recently decried last year’s cancellation of the recapitalisation exercise for the industry. According to the operators, the development may lead to the channelling of big-ticket businesses to foreign insurers. They said the policy, which had increased operating capital of the industry by 300 per cent, if implemented would have strengthened indigenous insurers to retain huge insurance businesses often flown abroad and would have

also increased the contribution of the sector to the nation’s Gross Domestic Product (GDP).

The insurers said in the light of the cancellation, most insurance companies would still lose businesses they used to underwrite as policyholders seemed poised to transfer their risks to underwriting firms with strong capital base.

Commenting on the cancellation, the President, Chartered Insurance Institute of Nigeria(CIIN) and Managing Director Consolidated Hallmark Insurance Plc, Eddie Efekoha stated: “Currently, insurance buyers especially big corporate

buyers determine companies that will underwrite their business using capital as parameter of measurement of fitness of firms that will handle their business. “Recently, a broker said his client had informed him not to place risks with any underwriting firm with less than N9 billion capital as proposed in the cancelled policy. “With such developments, it is now immaterial whether the industry regulator withdraws the policy because it has opened the eyes of insurance consumers.�

WEDNESDAY, ÍťÍ¸Ëœ ͺ͸͚Π˞ T H I S D AY

9

NEWS

Atiku Lists Infraction of Constitution by Buhari Foreign govts funding elections have no right to interfere, says FG Adedayo Akinwale in Abuja The presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar, has petitioned the United States, the United Kingdom, France and Germany over the constitutional breaches by President Muhammadu Buhari, saying Nigeria is swimming into anarchy.

But the Federal Ministry of Foreign Affairs has stated that the fact that some foreign governments are helping to fund Nigeria’s elections does not give them the right to make unguarded comments about the forthcoming elections.

The former vice president

in the petition dated January 27, 2019 and made available to journalists yesterday in Abuja, said Buhari is threatening the country’s democracy by serially breaching the provisions of the constitution and undermining organs and institutions of state in order to advance his personal interest.

Atiku said that while the president has ironically taken oath to safeguard and defend the constitution of Nigeria, the reality of his selective and wanton violations of its provisions means that his oath is observed only in the breach.

According to him, “I have chosen to write this letter to Your Excellency for the enviable

Buhari role that your country plays as champion of democracy and the rule of law. I am also writing you as Nigeria’s international development partner working together to deepen and strengthen our democracy as well as to help in the transformation of our

economies and societies for the better. “And as Your Excellency very much knows, respect for the rule of law is integral to promoting and preserving the values and principles of democracy. Sadly, however, by the actions of the government of President Buhari, one is forced to think otherwise.’’ Atiku noted that as a presidential candidate in the forthcoming general election that would be conducted and supervised by the Buhari-led federal government, he felt the urgent need to share some of these key violations of the provisions of the constitution with heads of foreign missions

in the country and demanded that they pile pressure on the federal government to desist from those violations and ensure a level playing field for the elections that are only a couple of weeks away.

He added, “We acknowledge with profound appreciation the positions taken by some members of the international community in Nigeria and urge Your Excellency to add your country’s very strong voice against these breaches of Nigeria’s constitution. Your voice is very important to the survival of Nigeria’s democracy.�

He explained some of the constitutional infractions of Buhari, while also urging the

countries to take appropriate actions as they might deem appropriate to whip the president to line.

On the purported suspension of the Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, the former vice president said, “On Friday, January 25, 2019, our nation woke up to the shocking news of the unilateral and extra-constitutional suspension of the Chief Justice of Nigeria, Justice Onnoghen and the immediate appointment and swearing in of Justice Ibrahim Tanko Muhammad, as the new acting Chief Justice of Nigeria.

In one of the Federal High Courts in Abuja, a senior lawyer was seen addressing other lawyers in the court room, after a meeting with a judge.

this Code of Conduct and immediately after taking office and thereafter – (a) at the end of every four years; and (b) at the end of his term of office, submit to the CCB a written declaration of all his properties, assets, and liabilities and those of his unmarried children under the age of 18 years.�

In applying for the acting CJN’s asset forms, AFRIMIL also said it relied on Section 1(1) of the Freedom of Information Act, 2011, arguing that the request was part of its advocacy for increased transparent and accountable governance in the nation’s public service.

The statement said, “The African Centre for Media and Information Literacy, a non-governmental organisation focused on good governance and the promotion of accountability has applied to the Code of Conduct Bureau for the asset declaration of the new acting Chief Justice of Nigeria, Justice Ibrahim Tanko Muhammad. “In a letter to the Chairman of the CCB and signed by its coordinator, Chido Onumah, AFRICMIL stated that in making the request, it relied on Paragraph 11, Part 1 of the Fifth Schedule to the 1999 Constitution as amended.�

Continued on page 50

NJC GIVES ONNOGHEN, MUHAMMAD SEVEN DAYS TO RESPOND TO PETITIONS Onnoghen and Muhammad were not in attendance as they recused themselves.

A former president of the Court of Appeal, Justice Umaru Abdullahi, according to a statement by NJC's Director of Information, Mr. Soji Oye, was elected to preside as interim chairman.

The council, according to the statement, considered four petitions in all: one against Onnoghen, two against Muhammad and one against the Umar.

It stated, "The National Judicial Council held an emergency meeting today (yesterday) and considered four petitions filed at its secretariat. “The petitions are: Petition against Justice W.S.N. Onnoghen, by Zikhrillahi Ibrahim of Resource Centre for Human Rights & Civil Education; petitions against Justice Ibrahim Tanko Muhammad, by Centre for Justice and Peace Initiative and Olisa Agbakoba, (SAN); and petition against Danladi Yakubu Umar, Chairman, Code of Conduct Tribunal by Centre for Justice and Peace Initiative."

It added that while the council referred the petition against Umar to the FJSC, which is the appropriate constitutional body empowered to deal with it, the council in line with its procedures forwarded the petitions against Onnoghen and Muhammad to them for their responses.

"In view of the gravity of the matters involved, Council abridged the usual response period from 14 to seven working days for the Justices to respond. Justice Onnoghen and Justice Muhammad, recused themselves from the meeting. Consequently, council elected Justice Umaru Abdullahi, former President of the Court of Appeal as Interim Chairman to preside over the meeting. Council will reconvene on February 11, 2019", the statement added.

The judiciary has been in the eye of the storm in the last two weeks following the federal government's attempt to arraign Onnoghen over alleged failure to disclose his assets as at when due.

The federal government had slammed a six-count charge of false asset declaration charges against the CJN. He is being accused of failing to declare some funds in his domiciliary accounts with Standard Chartered Bank,

Wuse 2 branch, Abuja as at when due.

While Onnoghen has challenged the jurisdiction of the tribunal to entertain the suit, the Federal High Court Abuja, the FCT High Court and the National Industrial Court in their separate ruling on exparte motion brought before them had ordered the CCT to halt the trial.

But the CCT refused to obey the orders claiming that the tribunal was not under the supervision of the courts hence their judgment is not binding on it.

Though the CCT however submitted to the order of the Court of Appeal to stay proceedings but not after it had issued the exparte order for the suspension of Onnoghen the previous day.

The obedience of President Buhari to the order has been the source of a major crisis both at the heart of the judiciary and polity, prompting the emergency meeting of the NJC as well as the NBA.

Ononghen Appeals CCT Ruling Ordering His Suspension

However, Justice Onnoghen has appealed the ruling of the Code of Conduct Tribunal, ordering his suspension.

According to the appeal, the CJN pleaded that the Chairman of the CCT, Danladi Umar and a member Mrs, Julie Anabor erred in law and violated the Constitution when they ordered his suspension.

He also claimed that they violated his right to a fair hearing by not giving him an opportunity for fair hearing.

He, therefore, asked the court to set aside the ruling of the CCT asking him to step aside as the Chief Justice of Nigeria and chairman of the NJC. Meanwhile, in a petition dated January 29 and addressed to the General Secretary of NBA, Agbakoba cited the ruling by the CCT in an asset declaration case against a Supreme Court judge, Justice Sylvester Ngwuta, as reason that the CCT has no jurisdiction to rule over Onnoghen’s case.

He argued that it is only the National Judicial Council (NJC) that reserve the power to rule on the case of an erring judicial officer and recommend to the president the removal of such officer.

The learned silk described Danladi’s action as constituting a “constitutional crisis.�

“On January 14, 2019, the Code of Conduct Tribunal (CCT) of which Mr. Danladi Umar is Chairman assumed jurisdiction in a matter against the CJN, Justice Onnoghen knowing the CCT had no jurisdiction in view of CCT’s own decision in the case of Justice Sylvester Ngwuta which also involved Asset Declaration,� the petition read. “The Court of Appeal in Nganjiwa v. FRN (2017) LPELR-43391 (CA) held that allegations of misconduct against a serving judicial officer must first be referred to and handled by the National Judicial Council. “It is only after the NJC has entertained and made a finding or pronouncement on the allegation against a Judicial officer and recommended to the president or governor as the case may be, the removal of such judicial officer, and the recommendation is accepted and acted upon by the appropriate authority, that the prosecuting agencies of the federal government can proceed against such judicial officer to make him face the full wrath of the law. Umar knew the state of the law yet acted otherwise. Umar’s misconduct has created a constitutional crisis and brought great embarrassment to the legal profession. “On January 23, 2019, the Code of Conduct Tribunal of which Mr. Danladi Umar is Chairman issued an exparte order which on its face is clearly defective having not set out on record the counsel that made the application.

This gives the impression the CCT may have drawn up the application on itself. This led the President of Nigeria to purportedly suspend the CJN, Justice Walter Onnoghen and purportedly appoint an Acting CJN, Justice Tanko Muhammad, as the Acting Chief Justice of Nigeria. “Umar’s misconduct has created a constitutional crisis and brought great embarrassment to the Legal profession.�

Agbakoba said since Umar is not a member of the NJC, so he cannot proceed with Onnoghen’s trial.

He further said the ongoing trial of the CCT chairman at a federal high court in Abuja over his alleged receipt of bribe robs him of the right to try Onnoghen.

He prayed the NBA to strike

out Umar’s name from the roll of legal practitioners in the country.

Lawyers Divided over NBA’s Boycott Directive Group Applies to CCB Meanwhile, lawyers were yesterday divided over the for Acting CJN’s Asset directive from the NBA for Declaration Form them to stay away from the courts in protest against the suspension of Onnoghen.

The association issued the directive at an emergency national executive committee meeting in Abuja on Monday.

It said the action which should last for two days is meant to serve as a warning to the federal government.

A communiquĂŠ issued at the end of the NBA emergency meeting read, "That Justice Walter Onnoghen remains the Chief Justice of Nigeria and that his purported removal from office is null and void.

"That the NBA does not recognise Justice Tanko Mohammed JSC as the Acting Chief Justice of Nigeria, his appointment being null and void.

"That the NBA demands the immediate reversal of the purported suspension from office of Justice Walter Onnoghen as CJN by the president on the January 25, 2019�.

However, THISDAY gathered that while some complied with the boycott order, others ignored the directive.

In the South-south and South-east, the directive was fully complied with as lawyers stayed away from the court. So was the case in Kaduna State.

However, the directive recorded partial success in some courts in Lagos and Abuja.

In some states in the North such as Kano, Jigawa, Yobe and others, the directive to boycott courts was totally ignored.

A visit to various courts in Abuja to assess the level of compliance revealed that though most of the courts did not sit, lawyers were found in some of the courts.

Some of the lawyers who spoke with THISDAY on condition of anonymity at the Federal High Court, Maitama, said they were in court because their matter was slated for that day.

At the Federal Capital Territory (FCT) High Court in both Maitama and Gudu, lawyers were seen taking new dates for their matters as it was obvious the courts were not going to sit.

In a related development, a civil society group, African Centre for Media and Information Literacy (AFRICMIL), has applied to the Code of Conduct Bureau (CCB) for the asset declaration of the acting Chief Justice of Nigeria, Tanko Muhammad.

The CSO said it sent the request to the Chairman of the CCB seeking copies of Mohammed’s asset declaration on his elevation as a Justice of the Supreme Court and appointment as acting CJN

by President Buhari.

AFRICMIL in a statement by its Coordinator, Chidi Onumah in Abuja yesterday, said it hinged its request on Paragraph 11, Part 1 of the Fifth Schedule to the 1999 Constitution as amended.

The provision read in part, “Subject to the provisions of this Constitution, every public officer shall within three months of the coming into force of

TI SCORES BUHARI’S ANTI-CORRUPTION WAR LOW

does not guarantee immunity for persons with privileged information, in addition to failure to inaugurate the National Procurement Council (NPC) as provided in the Public Procurement Act. He explained that further research analysis shows a disturbing link between corruption and the health of democracies.

"Government feigning ignorance to money-laundering crimes and tax evasion, most of which should have been stringently investigated and prosecuted by competent agencies in line with financial action task force standards" “Despite some indisputable evidence, many corrupt politicians and businessmen and women seem to be above the law and out of reach of law enforcement. Recent corruption scandals, including the GandujeGate, ShemaGate, DasukiGate, IkoyiGate, among others, have not seen diligent investigations, prosecutions and convictions of these cases and other Politically Exposed Persons (PEPs). The

authorities need to understand that these acts deepen a sense of hopelessness among wellmeaning Nigerians,� Rafsanjani added The group advised on the need to strengthen the institutions responsible for maintaining checks and balances over political power and ensuring their ability to operate without intimidation.

"Closing the implementation gap between anti-corruption legislation, practice and enforcement, supporting a free and independent media, ensuring safety of journalists and supporting civil society organizations which enhance political engagements will help stop corruption." He noted that more was required in the fight against corruption in Nigeria, noting that although the ranking shows that Nigeria moved up four places, it only indicated that four other countries scored worse in 2018, while Nigeria stagnated.

According to him, Nigeria has neither improved nor progressed in the perception of corruption in public administration in 2018.

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WEDNESDAY JANUARY 30, 2019 ˾ T H I S D AY

NEWS

Group News Editor Ejiofor Alike Email Ejiofor.Alike@thisdaylive.com, 08066066268

Buhari: I’ve Tried My Best to Fix Economy Emmanuel Ugwu in Umuahia President Muhammadu Buhari has stated that he has been doing his best to fix the economy in line with his campaign promises even though the indices might not be too favourable.

He expressed this view yesterday at the party’s presidential campaign rally in Aba, the commercial city of Abia State, saying that his critics should judge his administration by the current economic realities in the

country. ‘’We have tried our best to justify our promise to improve our economy with the resources available to us despite the fluctuations in the price of crude oil within the time we held sway,” he said.

The president, who was in Abia State to canvass for votes, insisted that he has delivered on the three planks of his campaign promises - economic improvement, security and fighting corruption.

Don’t Hope in Politicians, Bishop Kukah Warns Nigerians Segun James With the general election barely three weeks away, the Catholic Bishop of Sokoto Diocese, Rev. Mathew Hassan Kukah, has asked Nigerians not to put all their hopes in politicians, warning that “democracy dies when people hand over their fate to politicians.”

Kukah in a lecture he delivered at the 70th anniversary of the Nigerian Tribune Symposium at the Sheraton Hotels and Towers in Lagos titled: ‘Democracy, Political Parties, Electoral Integrity and Good Governance’, insisted that “this is dangerous because politics is the only game for which you require no qualification or prior training, experience or exposure to participate in.

“With the billionaires and the private sector actors in our midst, the intellectuals, the scientists, the retired and serving military generals, the bishops and all caliber of people we have, surely, it will be a mortal sin to entrust our hope to our politicians and simply stand by and watch as our lives and future are threatened. We would be most guilty of negligence.”

Kukah stressed that “these demagogues often hide their real ambitions under a veneer of populism; they whip supporters into frenzy, making different promises to different constituencies and speaking from both ends of their mouths.

“Thus, they will promise their kin, their tribesmen and women, co-religionists, regionalists, one thing and the rest of the country another thing.

They will ride on a contrived narrative of popular fanatical nationalism or ideology and present themselves as heroes, liberators and messiahs.”

The clergyman said it is at this point that the people should be more vigilant and ready to protest in the face of tyranny if the need arises. “This is when prophecy becomes urgent. This is where the honest voice has to stand up and say No! This is when No to tyranny becomes Yes to freedom.

“Often, we all feel insignificant as individuals. We wonder, can I make a difference? But history says yes we can make a difference. We have had heroes and heroines who have made a difference like Gandhi, Martin Luther King, John Kennedy, Mother Theresa, Nelson Mandela, Steve Biko, Edward Snowden, Julian Assange,

Malala, Leah Sharibu, Rosa Parks, Jim Acosta, De Klerk, Gorbachev, John Paul II, Mother Theresa, Colin Kerppernich, Bouzouzi among others.

“Protest is honourable. We must embrace the culture of protest. In 2011, TIME magazine made the Protester Man of the Year! So, creeping totalitarianism and tyranny, whether seen as assault on individual liberties, muzzling of the media or attack on the opposition, must be resisted,” Kukah said.

He accused the government of being tyrannical in handling some political situations in the country, saying the first signed of these is the continued disobedience of government to lawful orders of the court.

According to the cleric, “The face of tyranny is often hidden in innocence. There have been attacks on the media and disobedience of the courts as we can see in the cases of Sambo Dasuki and El Zakzaky whose detentions several courts have declared illegal.

“The government has continued to act in disobedience.

Now, they have broken into and desecrated the Supreme Court to install their own Chief Justice.

Who will be the next? That is the central question we must face before darkness envelopes us. The Rev. Martin Luther King had said a man cannot climb your back unless you bend it.

“So, as the elections approach, do yourself one favour. You have listened to all the promises that have been made, the ones kept, hurriedly or strategically. Do not get carried away. On election day, before heading for the polls, take a look at yourself in the mirror and ask yourself.

“Am I looking better than I was last year? Do I look healthier? Do I feel more secure?

What do I want for my family?

Which candidate or Party offers the best opportunity for me to improve my conditions and become a better person, a better and proud citizen? These are the questions.”

Earlier, the Chairman of the African Newspapers of Nigeria, publishers of Tribune, Dr. Tokunboh Awolowo-Dosunmu, in her speech titled ‘The Nigerian Tribune: Mission to Renew and Transform’ said: “In the private sector, there is always innovation... There’s always improving productivity, and if you’re not leading that, you’ll be passed and ultimately go out of business. So there’s an urgency to constantly update and renew and to rethink your enterprise.”

He explained that his drive to fix the dilapidated infrastructure his administration inherited from the past government was basically aimed at reviving the economy because of the snowballing effect it would have on the economy. ‘’We are fixing the road infrastructure, the railways and the power sector and I assure you that if we get the infrastructure correct - the roads, railway and power, our economy would stabilise,” he assured.

President Buhari had earlier inaugurated the Ariaria

international market independent power project, which was built “to provide reliable power supply” to the artisans in the market, who are famous for locally-made products.

He was welcomed into the Enyimba international stadium with loud ovation, despite the division in the state chapter of the All Progressives Congress (APC) where two factions of the party are still engaged in legal tussle to determine the authentic governorship standard bearer of the party.

Buhari, who was expected

to hand over the party flag to Mr. Uche Ogah did not do so, apparently due to the legal tussle over the governorship ticket, which has not been resolved.

But the National Chairman the party, Adams Oshiomhole elected to do it “on behalf of the President.”

Oshiomhole said the South-east made “mistake in 2015 by not supporting the now ruling APC”, adding that Ndigbo “should correct the 2015 mistake in 2019” by backing the ruling party in the forthcoming general election.

He reminded Ndigbo that they

have every reason to support the president, saying that the second Niger bridge is taking shape while federal roads in the zone are now being rebuilt.

According to him, “it fits into the vision of this government that government must work for the people,” adding that poverty should not be wished away but attacked frontally.

Earlier Ogah assured the people of the state that it would take him just two years to rebuild the state, which according to him, has been left floundering due to years of bad governance.

NEW FACE OF TRIBUNE ...

L-R: Archbishop of Sokoto Diocese, Bishop Matthew Kukah,; Chairman, ANN Plc , Dr.Tokunbo Awolowo-Dosunmu; Chairman of the occasion, Chief Emeka Anyaoku; Mr. Segun Awolowo; Afenifere Chieftain, Chief Ayo Adebanjo; former Governor of Ogun State, Otunba Gbenga Daniel; and Chief Kessington Adebutu, at the unveiling of New LookTribune and a Symposium held in Lagos ...yesterday

Buhari’s Approach to CJN’s Case Fair, Balanced, Says Tinubu Segun James A national leader of the All Progressives Congress (APC), Bola Tinubu, yesterday described the suspension of the Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, by President Muhammadu Buhari as “fair and balanced”.

Tinubu said this in a letter entitled: ‘Reply to Atiku’s State of the Nation’, made available to reporters in Lagos.

The Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar, had, on Monday, condemned the suspension of the CJN, Walter Onnoghen by President Buhari.

He described the decision as “a breach of the constitution”.

Tinubu’s letter read in part: “Strange that Atiku would choose to depict the current situation so

inaccurately as to stir emotions unduly. He claimed that CJN Onnoghen has been removed.

“However, this is not so. He has been temporarily suspended.

Atiku and his advisors should know and recognise the vast legal difference between “suspension” and “removal.”

“Yet you persist in conflating the two in what you say is a pursuit of justice. While true you may be in pursuit of something. It is not justice. “If justice was your goal, you would acknowledge that the CJN has only been temporarily suspended not permanently removed.

“Thus, your recourse to saying that the President violated the constitutional provision regarding the removal of a CJN is inaccurate in that Buhari never intended to remove the CJN. “What he has done is to have

the CJN temporarily get out of his chair so that the serious matters against him can be heard by someone other than himself.

“Should the charges show themselves to be wrong or unproven, the CJN will be automatically reinstated as the head of the Nigerian judiciary.”

Tinubu said for Abubakar to state that the CJN should remain on seat “while credible and grave charges swirl around him is to put the entire workings of the Supreme Court under a heavy cloud. “It is ironic that Atiku of all people throw such darts at President Buhari. Buhari actually exercised considerable restraint in this matter.

“He has reasonably balanced concerns about the integrity of the judiciary with concerns for the individual rights of the accused.

”Nothing has been taken from the CJN that cannot be restored if the facts warrant such restoration. Thus, President Buhari conditionally suspended the CJN. ”By doing so, this allows for the case to move forward without the CCT or others fearing the CJN might use his position to unduly interfere with proceedings. ”If the CJN is exonerated, then he will return to his position.

If not exonerated, then a more permanent discipline awaits him.

“This is an imminently fair and balanced approach, especially given the fact that the constitution and other laws really do not provide clear and unambiguous guidance on how to proceed in a case whether the CJN is the defendant under this unique fact pattern.”

Don’t Arm Thugs for Elections, NSA Warns Politicians Onyebuchi Ezigbo in Abuja The National Security Adviser (NSA), Maj. Gen. Babagana Monguno (rtd), yesterday disclosed that reports reaching the security forces revealed that some politicians are planning to use bandits and terrorists to cause violence in the forthcoming general election.

Monguno made the disclosure in Abuja during a meeting with the Nigerian Governors’ Forum

(NGF).

He said, “reports reaching me have revealed that some individuals that are uncertain of their fate in the elections are plotting to precipitate widespread violence aimed at scuttling the conduct of the polls.

“Their strategy is to cause crises that could snowball into endless crises for the government and citizen.

“There are indications that these unscrupulous elements are

already mobilising merchants of violence, including armed bandits and terrorists to orchestrate violence during the elections in several states of the Federation.

“I will refrain from being specific on some of the plots that have been uncovered, though the security agencies will spare no efforts in dealing appropriately with any act that can destabilise the nation and paint us collectively in a bad

light among the comity of states.

“Your Excellencies, you are more aware than I am that no individual or group is greater or more important than Nigeria.

Accordingly, no Individual or group’s ambition is worth the loss of life of any Nigerian or our national cohesion.

“In this regard, we owe Nigerians the duty to protect and preserve their lives and property regardless of our individual or group aspirations.”

WEDNESDAY JANUARY 30, 2019 ˾ T H I S D AY

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NEWS XTRA

Strike: ASUU Threatens to Sanction Erring Vice-Chancellors Hamid Adedeji The Academic Staff Union of Universities (ASUU) has threatened that it would sanction some university ViceChancellors who may have been “uncooperative” in the ongoing strike by the lecturers.

ASUU President, Prof. Biodun Ogunyemi, said this yesterday in an interview with the News Agency of Nigeria (NAN) in Abuja.

NAN reported that ASUU had commenced an indefinite strike on November 5, 2018, demanding for increased funding of the university education by the federal government.

Ogunyemi was reacting to the allegation that some

vice-chancellors have been intimidating lecturers in their institution and have ordered them back to the classroom, while some have reportedly commenced examinations.

According to him, the union may be preparing for a confrontation with some of the vice-chancellors that have defaulted and failed to cooperate.

“The attitude of some of these vice-chancellors is worrisome; the union will be prepared to engage such vice-chancellor when the ongoing strike is suspended or called off, ” he said. He expressed regret over some members of the union, who choose to betray their conscience by opting out of

the strike.

He added that such members who may be aggrieved ought to take opportunity of available internal mechanism for resolving such crisis, saying that the union will address the issues at the appropriate time.

Ogunyemi, however, noted that there are reasons some members may have opted out of the action in some campuses.

According to him, some vicechancellors are uncooperative even though they will benefit in the university system what ASUU is agitating for.

“In some places, some of them

will misapply the fund. That is why there will continue to be crisis, so when we go back, we are going to engage many of the vice-chancellors. “Like in some state universities, their governors are playing the ostrich, pretending to be funding their universities.

“Today, we call many state universities are TETFund universities because the bulk of their capital projects in the last ten years came from TETFund support and lately, the NEEDS assessment grant.

“Governors, who own such universities, will be giving their

vice-chancellors directive to go and open the universities.

“They are just not being sincere to themselves because they are actually not doing what is expected of them.

“Another reason is because some of our members are aggrieved for reasons best known to them. Some have threatened to pull out of ASUU and go their own way. “When you take it on the balance, you find out that within their inner self, they are not opposed to what we are asking for because the Earned Academic Allowances will go to them, revitalisation

fund and the salary shortfall, it will be refunded to them,” he said.

According to him, at the end of the day, it is a matter of conscience. Some of our members are, like you find in any group, those who betray their conscience. We cannot stop them because they are exercising their right.

“But for those who pretend to be with us and are not with us, we will take them through our process at the appropriate time because every organisation has its own disciplinary mechanism,” he said.

PSC Approves Appointment of Eight New DIGs The Police Service Commission (PSC) has approved the appointment of eight new Deputy Inspectors General of Police, just as it announced the approval of the re-constitution of the management team of the Nigeria Police Force based on zonal representation with effect from Monday, January, 28, 2019.

The approval was made at the PSC’s 4th plenary meeting held in Abuja on Monday and yesterday.

A statement by the Head, Press and Public Relations, PSC, Ikechukwu Ani, said the meeting was presided over by its Chairman, Alhaji Musiliu, Smith, a retired Inspector General of Police.

Those to wear the new rank of DIG include; Aminchi Samaila Baraya, the most senior AIG from North-east and he will represent the zone in the management team ; Usman Tilli Abubakar, representing the North-west; Abdulmajid Ali, former Assistant Inspector-General of Police, representing North-central and Fredrick Taiwo Lakanu, former AIG, Operations and until his appointment, the Force Secretary, representing the South-west. He

was also former CP, Imo State and had also headed SARS, Lagos.

Others are Godwin C. Nwobodo, former AIG, Boarder Patrol, presently AIG, Zone 7, Abuja and former CP, Courses, at the Police Academy (POLAC), Wudil, Kano representing South-east; Anthony Ogbizi Michael, former CP, Ebonyi and Delta States representing South-south and Yakubu Jibrin from North-central but appointed on seniority consideration.

However, a member of the newly promoted, Usman Yakubu, is to proceed on terminal leave.

Meanwhile, the commission also approved the retirement of seven former DIGs, the statement added.

The Chairman of the Commission charged the new management team to give the acting Inspector –General of Police maximum cooperation and support to move the Force forward.

He pledged the guidance of the commission to the new team and reminded them that they are coming in at a very critical time in the life of the country.

Akwa Ibom PDP Loses ex-NDDC Commissioner, 2,000 Others to APC The exodus from the Peoples Democratic Party (PDP) in Akwa Ibom State continued on Monday with the defection of a former Commissioner representing Akwa Ibom State on the Board of the Niger Delta Development Commission (NDDC), Mr. Etim Inyang (Jnr), and 2,000 others to the All Progressives Congress (APC).

Inyang, the son of a former Inspector-General of Police, Late Chief Etim Inyang, led the group of defectors during the APC campaign rally in Mbo Local Government Area.

Addressing the mammoth crowd at the rally held at Enwang, the local government headquarters, Inyang said that he defected to support Obong Nsima Ekere, the APC governorship candidate, to take Akwa Ibom State to the next level.

“I am borrowing a leaf from Apostle Paul in the Bible who said that he was not ashamed to follow the gospel of Jesus Christ. I am

not ashamed to follow Obong Nsima Ekere from the bottom of my heart because he is the one to take us to the next level,” he said.

He assured Obong Ekere of a clean sweep of Mbo’s 51,112 votes.

Inyang expressed gratitude to Ekere who was barely two weeks in office as Managing Director of NDDC in November 2016 when he made the road leading to the venue of his father’s burial accessible.

Receiving the defectors, Mr. Ini Okopido assured them of equal rights and privileges with old members of the party.

The PDP in Mbo, the host community of three oil exploration companies, the Forward Operations Base of the Nigerian Navy and the proposed Ibaka Deep Seaport, has suffered mass defections in recent times in spite of the presence of the Secretary to the State Government, Dr Emmanuel Ekuwem.

PEACEFUL ELECTIONS ON THEIR MINDS …

L-R: Osun State Governor, Mr. Gboyega Oyetola; Kogi State Governor, Mr. Yahaya Bello; Bauchi State Governor; Mohammed Abdullahi Abubakar; and National Security Adviser, Babangana Monguno, during a meeting of the Nigerian Governors Forum in Abuja…yesterday

Onnoghen: Stop Being Mischievous, Senate Minority Leader Tells APC Caucus Deji Elumoye in Abuja The Senate Minority Leader, Senator Biodun Olujimi, yesterday advised the All Progressive Congress (APC) Senate Caucus against being mischievous on the issue of the Senate’s decision to drag President Muhammadu Buhari to court over his suspension of the Chief Justice of Nigeria (CJN), Justice Walter Onnoghen.

She advised the APC Senators to stop spreading misleading information about how Senate

decision to file a case in court was taken and who can authorise such a decision.

Senate Leader, Senator Ahmad Lawan, had on Monday night dissociated the APC Caucus from the decision of the Senate to seek legal interpretation at the Supreme Court on whether President Buhari acted within his powers under the constitution in suspending the Onnoghen Olujimi, who represents Ekiti South Senatorial District, in a statement personally signed by her in reaction to Lawan’s

submission emphasised that the Senate presiding officer has the prerogative to decide whether an issue concerning the chamber should be referred to the court for adjudication, adding that this position is supported by precedents.

Her words : “I am surprised that a few of my colleagues in the APC Caucus are spreading disinformation that they were not party to the decision to file a case seeking interpretation of the provision of the constitution concerning the President’s

decision to suspend the CJN. “Those who are saying this are just being mischievous. They know such a decision is not meant for debate on the floor of the Senate. It is the prerogative of the presiding officer and in this particular case, majority of the people in Senate leadership suggested and supported the idea. There is no precedent of when decision on whether to resort to court is referred to the plenary. And there are several cases that the Senate has been and is still involved in.”

At Davos, FG Reassures Foreign Partners of Credible Elections James Emejo in Abuja The Federal Government of Nigeria has again reassured the international community that the 2019 general election will be free, fair and credible.

Both the Minister for Budget and National Planning, Senator Udoma Udo Udoma, and Minister for Industry, Trade and Investment, Dr. Okechukwu Enelamah, conveyed the federal government’s assurances to the international community as they led the country’s delegation to the 2019 edition

of the World Economic Forum (WEF) in Davos, Switzerland.

“The upcoming elections in Nigeria would be transparent, fair, open to observers as well as respect the rule of law,” the ministers told the gathering.

Meanwhile, the Nigerian delegation also made case for the country’s economic priorities within the development policy framework of the Economic Recovery and Growth Plan (ERGP).

The ministers had engaged with government representatives from other

regions, business leaders and multinational economic operators representing sectors that are principal drivers of economic growth.

The engagements were within the framework of economic, trade and investment reform priorities of the federal government to enhance trade flows and attract Foreign Direct Investment (FDI) for economic modernisation, growth and job creation.

Strategy and Communications Adviser to Enelamah, Mr. Bisi Daniels, in

a statement, said Udoma, who participated in the session on shaping a new architecture on the global economy, was also present at the African Ministers of Finance and Economic Development on Africa’s Growth Agenda, during which ministers took stock of economic issues and explored ways of deepening intra-African growth.

Udoma reportedly “held a number of bilateral meetings, including the meeting with the Managing Director of Swiss Re Management Limited, Mr. Ivo Menzinger.

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T H I S D AY Ëž Ëœ ÍąÍŽËœ Ͱ͎ͯ͡

COMMENT

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

AS BUHARI OVERSTEPS HIS AUTHORITY The suspension of Justice Walter Onnoghen is a huge mistake, writes Sonnie Ekwowusi

F

or overthrowing the Nigerian Constitution as he once did when he plotted a military coup, and for now precipitating a constitutional crisis capable of engulfing the country in yet another turmoil, President Buhari should be sent packing from the Presidential Villa. This is the limit of the Buhari terror. It is finished. Buhari has reached the end of his dictatorship.

Therefore let it be proclaimed to the mountain tops: Babylon has fallen.

Buhari has fallen.

For surrendering himself to be sworn in as the “Acting Chief Justice of Nigeria�, Justice Tanko Muhammed should be stripped of his judgeship by the National Judicial Council (NJC). The CCT Chair Danladi Umar should be de-robed as a lawyer for fraudulently granting an ex-parte order purportedly suspending Chief Justice Walter Onnoghen after he had announced in open court to the hearing of everybody including the SANs representing Chief Justice Onnoghen that he would not entertain any ex-parte application on that day and that he was adjourning for Monday, January 28 to hear the application on jurisdiction. I can’t believe that Umar could descend so low. I can’t believe that after announcing in open court that he was not going to grant an ex-parte order he secretly went behind Chief Justice Onnoghen’s lawyers and concocted a black market ex-parte order which was broadcast to the whole world. It is more shocking that immediately after the black market ex-parte order was concocted Buhari took it upon himself to announce that he was purportedly suspending Chief Justice Onnoghen. The logical inference here is that Buhari must have ordered Umar to concoct the ex-parte order so that he would rely on it to purportedly suspend Chief Justice Onnoghen. Tufiakwa!

And for Vice-President Prof. Yemi Osinbajo, SAN who claims he was not privy to the plot to “remove� Chief Justice Onnoghen, his conscience must be pricking him at the moment and telling him, “Remember who you are, Yemi. You are a respected Senior Advocate of Nigeria. If you are feigning ignorance of the plot, then resign. You are a Redeemed pastor.

What does it profit a man to become the vice-president of Nigeria and afterwards loses the respect and affection of the members of his legal profession and his church?� Expectedly, felled by human weakness and foibles, Prof Osinbajo will not hearken to his conscience and tender his resignation. I would not waste words requesting the Federal Attorney General to enter the tribunal with his heart and conscience and thereafter tender his resignation because he is incorrigible and un-teachable.

The good development however is that many Nigerians especially Nigerian lawyers have vowed never to recognise Tanko either as their Acting Chief Justice or as anything at all. As at the time of writing, hundreds upon hundreds of Nigerians from East to West, North and South had come together and resolved that for overthrowing the Nigerian Constitution Buhari must be voted out next month. The voices of these multitudes are not heard in the streets; they carry no arms; they appear as if they had not broken any reed, but there is a fire burning through their veins. Their conquering strength is unsurpassing and unprecedented. If you bend your ears close to the ground and

FOR SURRENDERING HIMSELF TO BE SWORN IN AS THE ‘ACTING CHIEF JUSTICE OF NIGERIA’, JUSTICE TANKO MUHAMMED SHOULD BE STRIPPED OF HIS JUDGESHIP BY THE NATIONAL JUDICIAL COUNCIL

listen carefully you will hear them chanting away, “Power belongs to the people. Buhari has fallen. The sovereigns in our presidential democracy are the Nigerian people not Buhari�. As I scribble this, the Abuja and Owerri lawyers had resolved to embark on indefinite strike and boycott of the law courts until Buhari rescinds the purported suspension of Justice Onnoghen. President Buhari should understand that unlike some African countries overrun by power thirsty despots, no tyrant can be allowed to overrun Nigeria. Remember maximum dictator Sani Abacha? They fail to understand that power is ephemeral and transient.

Much has been said and written about the transience of power and on why dictators fall. In her incisive essay titled: An Inquiry into the Persistence of Unwisdom in Government, Barbara Tuchman, eminent American historian, twice winner of the Pulitzer Prize, wondered why after man had accomplished marvels such as inventing electricity; going to the Moon; building great Cathedrals; composing Mozart; philosophizing about nature and earthly existence and penetrated the mysteries of genetics, he had accomplished less in government. After a painstaking comparative study of empires and countries such as Greece under Pericles; Rome under Caesar; France under Napoleon; Germany under Hitler; China under Mao Tse-Tung; United States under George Washington, Tuchman came to the conclusion that man’s failure in government is largely due to wooden-headedness, incestuous narcissism and stupidity. Applying Tuchman’s aforesaid thesis to Nigeria, Buhari’s problem can be attributed to wooden-headedness and narcissism. Otherwise how would you explain that barely two and half two weeks to the Presidential election, President Buhari who ought to be forging unity and love has been busy committing all sorts of wrongs capable of causing breach of public peace and electoral violence in Nigeria?

Buhari no longer listens to the voice of reason. He is not even listening to his wife. And that is also his predicament which will bring about his defeat at the polls next month. And if he tries to rig the Presidential election in his favour it would be met with stiff resistance. After the last Osun State gubernatorial election that was rigged in favour of the APC, Nigerians have vowed that they would never tolerate another rigging in the forthcoming elections. In the same vein members of the international community especially the U.S have vowed to punish any Nigerian politician or political party involved in any election rigging. Worried by the increasing lawlessness in the Buhari government culminating in the purported removal of the Chief Justice Onnoghen the U.S Embassy last week warned that the 2019 Nigerian elections must not rigged in favour of any politician or political party.

There is no doubt that Nigeria is now mired in severe political crisis since June 12 and Sani Abacha military era. Therefore the people should safeguard their destiny instead of allowing it to be determined

by President Buhari. After all Buhari is not the owner of Nigeria. He is just one man. Nigeria will remain after he has gone.

LETTER TO BUHARI ON ALLEGED GANDUJE VIDEOS Audu Bulama Bukarti challenges the EFCC to make public their findings on the videos

F

ollowing your recent appearance on Kadaria Ahmed’s widely-televised programme, The Candidates, I write to raise some issues regarding your response to several questions on the viral video clips allegedly showing Governor Abdullahi Umar Ganduje of Kano State receiving bribe from contractors.

Sir, what stood out to me in your answers that you “can’t understand� the extent of the “technology� used in the clips and that you are counting on Kano State Assembly (KSHA) and the Kano State High Court (KSHC) to provide you with the answers you and every Nigerian want before you go to Kano for your election campaign.

With profound respect, Your Excellency, these statements left me with only one conclusion: that you have been utterly misled by those people you appointed and trusted to guide you. Contrary to what you have been made to believe, the issue of investigating the clips is not in court and it is not before the KSHA. The whole world is now waiting for you to act. I will explain my assertion below.

Sir, there is currently no ongoing investigation on the said clips at the KSHA and no pending suit on the investigation. Immediately after the videos went viral, the KSHA instituted an ad hoc committee to investigate the allegations. The committee held public sittings to which it invited Jaafar Jaafar – the journalist who first released the videos – and he honoured the invitation, testified before the committee and made copies of the clips available to it. I was specially moved by the fact that Jaafar arrived the venue with a copy of the Qur’an and he testified while hanging it; the same Qur’an you swore-on on the 29th of May 2015 that you will, among other things, fight corruption “without fear or favour, affection or ill-will�.

Next, the committee invited Governor Abdullahi

Umar Ganduje. But Ganduje failed, refused or neglected to appear before it. Instead, he sent his Commissioner of Information to represent him.

Predictably, the representative could not offer any convincing explanation not least because he was not there when the alleged facts took place. He merely denied the content of the video and cast aspersions on the personality of Jaafar Jaafar. To recap this point, Jaafar has honoured the committee’s invitation and testified, but Ganduje failed to appear. Doesn’t that tell you anything Sir? But the worst for Ganduje was still to come. Few days after he refused to appear before the committee, the whistle-blower who shot the video and who was initially hesitant to testify volunteered to appear before the committee if his security and safety could be guaranteed. Furthermore, the committee started making moves to appoint experts to analyse the videos. These developments chilled Ganduje and his team to the marrow. The next thing we heard was that a group of self-styled, unregistered lawyers has instituted an action asking the court to stop the KSHA from investigating the videos. The court first restrained the committee and later pronounced that the KSHA has no power to investigate the videos as they contain criminal allegations. It further declared that it is the function of such agencies as the police, the EFCC and the ICPC to investigate the allegations and that the videos should be submitted to them.

Thus, the court has already ruled that the KSHA lacks power to proceed, and then threw the ball to the court of these agencies, all of which are under your watch. So, the matter is not in the court. It is not in the KSHA. Consequently, you unfortunately cannot find the answers you are looking for from the KSHA or from the court. Surprisingly, the EFCC, ICPC, NPF and the DSS have refused to act and they are all under you. Thus, the ball is now in your court, Mr. President.

Your Excellency, permit me to now turn to your statement that you don’t know “the extent of [the] technology used� in the clips and you “can’t understand it�. Mr. President, I believe you a hundred-and-ten per cent that you don’t know the extent of the technology used, but I state, with profound respect, that you can understand it if you wish to. Qur’an 16:43 teaches us to “ask the people of the message if you do not know�. Sir, the only thing needed for you to understand the video is for a forensic investigation to be carried out on them.

This investigation would reveal whether the clips are genuine, doctored or fake. Today, Allah has put at your disposal every investigative agency in Nigeria: the DSS, the NPF, the EFCC, ICPC, name them. Sir, you simply need to ask them to investigate and brief you so that you may understand “the extent of [the] technology used.�

But you do not even have to ask and wait for forensic investigation to be conducted because the EFCC has already done one. This is according to its acting chairman, Mr. Ibrahim Magu and all you need to do is to simply direct the EFCC chairman to brief you on their findings. On 23rd November 2018, Mr. Magu told me in the public at Queen Mary University of London that his team was in London to, among other things, conduct forensics into the clips. But upon completion and return to Nigeria, he kept mute on the issue. I suspect that what he found is against Ganduje. Otherwise, he would have publicised the result and the police would have arrested and prosecuted the journalist and the whistle-blower.

Sir, I do not need to remind you that in 2015 you campaigned on the back of three key promises – fighting corruption, unemployment and Boko Haram – and I understand that you are riding on the same promises today. The millions of Nigerians and I who not only voted for you in 2015 but also

voluntarily worked for your election to the last atom of our strength did so because we believed that “if we don’t kill corruption, corruption will kill Nigeria.� On the 29th of May 2015, you swore on the Glorious Qur’an saying I “will to the best of my ability preserve, protect and defend the Constitution of the Federal Republic of Nigeria�.

Section 15 (5) of the constitution mandates you to “abolish all corrupt practices and abuse of power� in Nigeria.

Mr President, the duo of Jaafar Jaafar and the whistle-blower who did their best to complement your efforts in the fight against corruption, are bearing the brunt of your administration’s undoing.

While Jaafar is facing a N3billion “defamation� suit, the business interest of the contractor who filmed the videos is on a knife edge. The ongoing contracts being executed by his company have recently been revoked by the state government. It goes without saying that this is counter-productive to your whistle-blowing policy as people will rather remain silent in the future.

Finally, Mr. President, as you rightly stated in your response to Kadaria Ahmed, this issue, to borrow your words, has “received a lot of publicity� and “the world is [now] watching us�.

You are the president whose duty is to lead. If you keep complaining that you can’t understand, what do you expect ordinary Nigerians to do? This will only continue to erode public confidence in your government as you are telling the world that you are not in charge.

Your Excellency, your actions or inactions on fighting corruption in Nigeria will surely be written in history books and taught in history classes and this case is a litmus test.

Bukarti, a Ph.D candidate at SOAS, University of London, is human rights and anti-corruption lawyer

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T H I S D AY WEDNESDAY, JANUARY 30, 2019

EDITORIAL IOCS And Oil Theft In Nigeria The loss from oil thefts imperils the country’s economy

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new report on the protracted practice of crude oil theft in Nigeria has disclosed that amongst those involved in the illicit trade are oil companies operating in the Niger Delta region. The report, prepared by the Nigeria Natural Resources Charter (NNRC), revealed some of the smart ways International Oil Companies (IOCs) operating in oil fields in the country usually steal and siphon large volumes of crude oil undetected by the Nigerian authorities. Exploring the political economy of oil theft in Nigeria, its causes, and dimensions, the report also divulged how the practice was handed down from the military to the civilian authorities in 1999, when the country returned to democratic government.

While these are mere allegations, we believe that the report is detailed enough to provide the necessary starting points THERE ARE SEVERAL for investigations of CATEGORIES OF OIL the IOCs and whoever may be their THEFT IN EXISTENCE accomplices.That the AND THEY INCLUDE cartels are SMALL-SCALE PIPELINE criminal getting more and TAPPING, BUNKERING more emboldened by AND OVER LIFTING reportedly investing in barges, canoes, speed boats and large wooden boats which they use in their illicit business, suggests that they enjoy some form of official protection. Indeed, that the relevant authorities seem clueless about how to contain these acts of sabotage that have serious economic and security implications for our country can now be attributed to the alleged criminal complicity of some unscrupulous officials.

In its 10th October 2013 report on the mismanagement of the oil and gas sector in Nigeria, the Economist had written: “…oil is also being stolen at a record rate and traders’ figures show output at well below the government’s figures. Information about

Letters to the Editor

Africa’s biggest oil industry is an opaque myriad of numbers. No one knows which ones are accurate; no one knows how much oil Nigeria actually produces.

If there were an authoritative figure, the truly horrifying scope of corruption would be exposed.”

Even though there is no number to the exact volume of oil that may have allegedly been stolen from the country by the IOCs, the NNRC report explained that the people involved work through a network of onshore and offshore operators: sellers, financiers as well as logistics and security firms to pull it through. According to the report, there are several categories of oil theft in existence and they include small-scale pipeline tapping; bunkering and over lifting. While these three types of theft are not mutually exclusive, the report noted that they each have different sources, actors, markets, and revenue streams, and they all have collaborators within the law enforcement agencies.

I T H I S DAY EDITOR BOLAJI ADEBIYI DEPUTY EDITOR DAVIDSON IRIEKPEN MANAGING DIRECTOR ENIOLA BELLO DEPUTY MANAGING DIRECTOR KAYODE KOMOLAFE CHAIRMAN EDITORIAL BOARD OLUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN MANAGING EDITOR JOSEPH USHIGIALE

T H I S DAY N E W S PA P E R S L I M I T E D EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOLA BELLO, KAYODE KOMOLAFE, ISRAEL IWEGBU, IJEOMA NWOGWUGWU, EMMANUEL EFENI DIVISIONAL DIRECTORS BOLAJI ADEBIYI, PETER IWEGBU, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS PATRICK EIMIUHI, SAHEED ADEYEMO CONTROLLERS ABIMBOLA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

t is absurd for Nigeria to continue to fold its arms and watch this economic haemorrhage as an average of 200,000 barrels per day of oil, according to the report, was stolen and about 100,000 lost to shut-ins as a result of pipeline damage, down time and deferred production in the first quarter of 2018 alone. The impact of such large losses is immense as they translate to severe revenue shortages for the federal government. If the estimated N995.2 billion lost every year to oil theft is put into Nigeria’s education or health care sectors, lecturers would not go on strike for months unattended to, and doctors would also stay in hospitals where there are basic medical supplies to keep Nigerians from dying of simple treatable diseases.

To address the problem, there is an urgent need to overhaul the security put in place to man the oil and gas sector in our country. The identification of all rivercrafts in our waterways also needs to be pursued vigorously. If this is achieved, it will curb the present situation in Nigeria waterways where many vessels cannot be accounted for in terms of the cargo and the crew, port of origin and port of destination.

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

ONNOGHEN AND THE FOREIGN ACCOUNTS SAGA

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igeria currently witnesses a new hubbub on anticorruption battle involving a high profile figure - the head of another arm of the federal government.

Earlier on, it was against the head of the legislative arm, Dr. Bukola Saraki, the Senate President. Saraki was subsequently discharged and acquitted. At present, the arrow is pointing to the head of the judiciary, Hon Justice Walter Nkanu Onnoghen, JSC; Chief Justice of Nigeria that heads the nation’s Supreme Court and National Judicial Council (NJC), for operating undeclared foreign accounts contrary to code of conduct for public officers as provided in Sec 11 (1) (2) of the 5th Schedule of the 1999 Constitution as amended.

The incident has engendered pandemonium with two distinct sides; one in solidarity and the other for the Code of Conduct Bureau (CCB) for charging the head jurist to the Code of Conduct Tribunal (CCT). Despite the hue and cry, the federal government through the Nigerian Financial Intelligence Unit (NFIU) froze Justice Onnoghen’s five affected accounts by means of Presidential Executive Order No. 6 of 2018, and demanded his resignation as CJN. In the two proceedings, Justice Onnoghen was absent. Consequently, President Muhammadu Buhari as ordered by the tribunal suspended him as CJN pending the conclusion of the trial pursuant to Section 11 of the Interpretation Act, Cap 123, Vol. 8, LFN, 2004. If acquitted, reinstatement is certain.

Nonetheless, the die is cast as both sides have radical legal luminaries. However, the learned jurist admitted ownership of the foreign accounts but explained he forgot to declare them as statutorily required from public officers. By the admission alongside banks extracts, the

prima facie cases have been established which pointed to commission of crimes. Unfortunately, proof doesn’t solely determine a conclusion as substantive law merely governs rights and obligations. Enforcing them to secure convictions and sentences is entirely a different ball game as it demands absolute compliance to stipulated rules and procedures.

Thus, the issue is more of a clash between substantive and procedural laws. Hence, notwithstanding the apparent breach of the laws as admitted by the learned jurist, the proviso demanding the agency to first invite the accused public officer for a written response; either to admit or refuse to react may render the charges defective since it allegedly wasn’t done. However, this clause is ill-conceived for selfish motives. The blunder transcends the present brouhaha and demands justification as it isn’t for public interest knowing the offenders would seek settlement during the invitations. In generic sense, it is deficient but however, remains the law until reviewed.

A fundamental challenge is the explanation to provide especially to the masses that are constantly bundled and convicted for crimes they sometimes committed unconsciously. For example, several motorists have been arrested for mistakenly or forgetfully breaking traffic laws, and excuses of oblivion fell on deaf ears. Similarly, former Finance Minister, Kemi Adeosun after her admission threw in the towel and lost her job over omission to get authentic NYSC exclusion certificate.

By the position of the accused as helmsman of the judiciary, anything short of conviction and sentence after his open admission will be perceived in public quarters as undue influence. Meanwhile, the procedural defects probably led to the cataclysm.

Another critical issue in the issue is the Appeal Court’s decision in

Ngangiwa v FRN (2017) LPELR-43391 which however, ruled that judicial officers accused of offences must first be subjected to investigation and disciplinary actions by the National Judicial Council. Incidentally, the accused jurist heads the NJC expected to investigate the allegations pursuant to the appellate decision, and therefore, it would incontrovertibly clash with the principle of natural justice; ‘Nemo judex in causa sua’ (nobody may be a judge in his own case) which is sacrosanct.

Convincingly, the Appeal Court never envisaged such a catastrophic scenario. Again, having openly admitted the omission or commission, the question that may rationally arise is the essence of further investigations by the body since investigation is possibly aimed at ensuring that a judicial officer accused of offences actually committed the alleged offences prior to prosecution in the court.

The most delicate aspect of the saga is the clash between rule of law and equality before the law. Critically, should the crimes be overlooked by CCB over the accused jurist’s status? Fifth Schedule of the constitution incidentally exempted none, not even the president of the Federation that enjoys immunity. By his admission, members of the public are eagerly hoping to see conviction which may not come.

Suffice to say it is high time agencies of government as a remedial mechanism split legal departments into Solicitors and Advocates units for shared responsibilities. This would optimistically, technically separate their duties such that while Solicitors department guides operations on substantive matters, the Advocates unit ensures strict compliance to rules and procedures for efficient service delivery.

Carl Umegboro is a public affairs analyst and Associate, Chartered Institute of Arbitrators

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T H I S D AY ˾ WEDNESDAY JANUARY 30, 2019

MIDWEEKPOLITICS

Group Politics Editor NSEOBONG OKON-EKONG Email nseobong.okonekong@thisdaylive.com 08114495324 SMS ONLY

PRESIDENTIAL PODIUM Olawepo-Hashim Banks on Peoples Trust Vanessa Obioha

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he People’s Trust (PT) presidential candidate, Mr. Gbenga Olawepo-Hashim, believes fervently that the story of gloom in the country can be turned to that of boom and the tide of poverty averted and movement towards prosperity for al started. With paradigm shifts in leadership, which Olawepo-Hashim represents, implementation will be scientific.

In the People’s Trust (PT), we believe that through a rigorous application of a set of policy initiatives under the leadership of OlawepoHashim, Nigeria will achieve the predicted milestones ahead of timelines forecast by independent observers and friends of Nigeria.

The PT presidential candidate made his name as a student union and rights activist. He drew global attention when he was imprisoned without trial by the Ibrahim Babangida regime. Declared a prisoner of conscience by Amnesty International, Olawepo-Hashim was later freed after legal battle and international pressure. He was the founding Deputy National Publicity Secretary of the Peoples Democratic Party (PDP). Originally from Kwara State, he now chooses to contest for political office out of the FCT. He is a serial investor in different sectors of the economy and multi-billionaire businessman

New Nigeria Economic Development Plan The economic strategy of People’s Trust is a bold agenda and plan aimed at changing the present economic structure of dependence. It is revolutionary and massive. We are to exit monolithic economic and technical dependence. We are to fast track and expand indigenous technology at least for the production of what we consume. We are eliminating poverty by fundamentally reordering our national economy. We will stop “Mickey-Mouse” economy which parodies the Nigerian economy presently by expanding it (Nigerian economy) exponentially.

The critical issue facing Nigeria, beyond all other assessments, is that the size of the economy is abysmally small and therefore incapable of stimulating development, tackling poverty or creating national prosperity. An annual national revenue of US$50 billion or thereabout is inadequate to finance meaningful development or take the nation to new development height.

A new Nigeria Economic Development Agenda is to expand the Nigerian economic base to a four trillion dollar in the next 10 years to tackle fundamentally challenges of under-development and poverty.

Expansion of the GDP shall be funded through targeting 5% of global infrastructure fund, which will mount to 3,9 trillion US Dollars; increase in remittances to 100 billion US Dollars per year, totaling 1 trillion USD in 10 years by integrating Diaspora community into local investment platforms; boosting tourism and other sources of investment.

Justice Sector Reforms We will implement fundamental reforms of the justice administration sector to guarantee the independence of the judiciary from the executive interference while strengthening the system to justly and efficiently

Olawepo-Hashim

discharge its constitutional mandate.

We intend to make the judiciary truly the last hope of the common man by stopping police brutality and removing hindrance in the justice administration system. Some of the

We will implement fundamental reforms of the justice administration sector to guarantee the independence of the judiciary from the executive interference while strengthening the system to justly and efficiently discharge its constitutional mandate

policy objectives in this regard include; immediate end to oppression of the poor though unjust incarceration; protection of judicial officers from humiliation through vindictive prosecutions; and strengthening the National Judicial Council (NJC) to discipline judicial officers without interference by the executive

SECURING AND DEFENDING NATIONAL SOVEREIGNTY Nigeria is a fragile nation being pulled in various directions by centrifugal and centripetal forces as well as external and internal insurgencies. Dowsing social tensions through social investments is to be complemented by strategicallyfocused defence and foreign policies geared towards securing and defending our national sovereignty. A PT government will immediately start work on; creation of a new security body between the military and police for quelling national insurrections; creation of a new national military doctrine; reforming and strengthening of domestic defence industry and capacity; introduction of military service to enhance culture of military service; building our foreign policy on solid national foundation with a focus on cementing national unity; putting the interest of citizens first in our foreign policy in all international interactions; reinforcing in the foreign policy our national interest of building strong economy at home; giving our security forces priority

attention on all fronts; strengthening domestic capacity for defence externally and internally and enforcing a Nigerian first agenda in all areas of interactions

PRIORITISING SOCIAL INVESTMENTS IN EDUCATION AND HEALTH Nigeria faces multiple social challenges and sectoral issues in health and education. The picture is scary across the health and education sectors. Hence, we focus on reversing the trend through emphasis on educational reforms and fundamental professional review of the health sector.

Social divisions and tensions among Nigerians are to be bridged and doused respectively in order to build a truly united, healthy and educationally sound nation. The steps to be taken in this regard includes addressing national inequality with direct poverty-alleviating policies and programmes; access to health to meet the SDG goals is to be pursued with vigour and passion; social care for the elderly and the youth is to be adopted as a principle of state governance; health reform to transform Nigeria as a destination of medical tourism is to be implemented; access to education for indigent but brilliant students is to be a state policy; accountability in the management of the educational institutions is to be pursued and welfare of the citizenry, irrespective of race and

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T H I S D AY ˾WEDNESDAY JANUARY 30, 2019

STATE OF THE POLITY

Akwa Ibom Governorship Candidates Face Tough Tests Nseobong Okon-Ekong and Amos Etuk write that contenders in the race for the Hilltop Mansion, residence and office of the governor of Akwa Ibom State have an uphill task

Emmanuel

Ekere

Otu

Nya-Etok

Governor Udom (Peoples Democratic Party) overnor Udom Emmanuel is the candidate of the Peoples Democratic Party (PDP) inAkwa Ibom State. He hails from Onna council and is seeking a second term in office. His ascension in 2015 with a wealth of experience from the private sector has charted a sustained performance in his leadership that has opened new vistas of economic prosperity for the state.

For the record, his party, PDP has governed the state since the return of the current democratic dispensation in 1999 and has a strong base of followership across the state. The much advertised current level of development in the state has been under the PDP-led government.

Unfortunately, he came into office as the country plunged into recession. However, this seeming setback provided the drive that brought out Emmanuel’s private sector experience, challenging him to chart a successful course for the economic stability of the state through the season with policies that laid new foundations for the growth.

One of the greatest legacies of his administration is the peace that abounds in Akwa Ibom State till date as he has pursued successfully the course of a peaceful ambience in the state once noted for a lot of vices and unfortunate killings. The peace that has come back to the state under his leadership has been widely applauded by the people which has clearly endeared him to the people and won many accolades and multiple awards for him as a Man of Peace.

The sectoral development of Governor Emmanuel in three and half years has seen the successful establishment of 15 industries in just his first term with multiplier effects that has today made Akwa Ibom State a preferred business destination cannot be quantified. The influx of investors into the state under his administration has been tremendous and with the commitment to drive a viable private sector economy has successfully won him many admirers.

The inclusiveness of the political class in the mainstream governance across the state has been a unique selling point of the governor, as the party stakeholders including elders, youths and women are satisfied with his performance and have issued a clarion call for his second term.

One of the strong power points of the Emmanuel administration is the massive support base from all the three Senatorial districts to ensure that, like his predecessors since 1999, he also benefits from a two-term tenure.

Obong Victor Attah from Uyo Senatorial District governed the state from 1999-2007, Obong Godswill Akpabio from Ikot Ekepene Senatorial District ruled from 2007-2015 and the sentiments and expectations are high among the people that Emmanuel must be allowed to complete his tenure for Eket Senatorial district.

The sentiments of support across the three Senatorial districts for him has been tremendous. The people of Uyo Senatorial District led by Senator Bassey Albert Akpan one of the pillars ofEmmanuel’s re-election have consistently said that the shortest route to Uyo Senatorial District occupying the seat of power in 2023 is the unanimous support for Emmanuel.

The Uyo Senatorial District is also the home base of the Speaker, Akwa Ibom State House of Assembly, Rt. Hon. Onofiok Luke who is also one of the pillars driving the vision of the success story of Emmanuel’s re-election and Obong Paul Ekpo, the State Chairman of the Party. Uyo Senatorial District has well over 700, 000 votes in the forth

coming general elections. He has been campaigning across the state with the Divine Mandate slogan.

One of the major challenges of the PDP will be the fact that this will be the first time the party will be going into the general elections as an opposition party from the centre and the threats of the All Progressive Congress (APC) using federal might to hijack elections has become worrisome which has led to the visitation of the United States Ambassador to the state several times to address the alleged plot by the APC to perpetuate violence in the state.

The famous ‘’Warsaw’’ threat by the former Senate Minority Leader Godswill Akpabio on the people of the state to hijack power has become a major concern to the people and they have vowed to reject.

Emmanuel looks set to do well in the election, given his massive support base which is swelling daily.

promise. The thinking is that he will surely renege on his declaration and stay eight years, thereby denying Uyo Senatorial District an opportunity at the Hilltop Mansion in 2023 as the speculations are rife that he may hand over to Ikot Ekpene Senatorial District.

Political pundits have also raced through history to conclude that Nsima Ekere has never won any election into any elective office in Akwa Ibom State.

He tried to be governor in 2007 and lost at the primary. He also failed in his bid under the then All Nigeria Peoples Party (ANPP) for the House of Representatives seat. There is also this unpalatable bit of history that no NDDC chief executive from the state has succeeded in becoming governor.

Akwa Ibomites are also angry that his resignation from the NDDC led to the dissolution of the board. The prevailing thinking is that he should not have thrown away Akwa Ibom’s chance of serving out its mandatory tenure. Many are at a loss to understand Ekere’s insistence on walking away from a job that gave him access to the budget of nine states, plus statutory contribution from the iocs. They say if his intention was to serve the state, the NDDC job offered more latitude.

am willing to lead the great people of Akwa Ibom state to make this our reality. Given the abundance of talents that in this state, my ultimate goal is to make Akwa Ibom the ICT hub of the nation; a state where everything will be technology driven. It is with this urgency that I therefore seek the people’s mandate so that we can effectively implement strategies to guide and strengthen our people economically and socially.”

Otu drew attention as a candidate to take seriously when 17 other political parties and their governorship candidates in the state renounced their ambition and queued behind him.

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Obong Nsima Ekere (All Progressives Congress): Mr. Nsima Ekere is the governorship candidate of the All Progressive Congress (APC) in Akwa Ibom State. He hails from Ikot Abasi council. A businessman with vast interests in property, Ekere has come into the contest to inherit the political structure of a party he joined less than four years ago.

He is riding on the back of the former Senate Minority Leader, Senator Godswill Akpabio hoping against all odds that his luck will shine this time around. Until, recently, he held forte as the Managing Director of the Niger Delta Development Commission (NDDC). He earlier served as Deputy Governor to Godswill Akpabio between 2007 and 2009 and resigned after moves to impeach him was leaked to him.

He is making another spirited attempt at the Hilltop Mansion having failed in the primaries in 2007. He hopes that his party structure will facilitate his emergence at the polls.

His tenure at the NDDC was challenging. There was no love lost between his leadership and the Akwa Ibom State Government as controversies and brickbats swung regularly between the two sides on the commitment of the agency towards the development of Akwa Ibom State.

Observers think Ekere may be banking on the proverbial federal might to sway the elections to his party. It will be recalled that in November 2018, the APC had allegedly used federal might to plot unease in the Akwa Ibom State House of Assembly which was rebuffed by the leadership of the legislature and the people of the State. He has been campaigning and the believe that the flag off of the party’s presidential campaign in Akwa Ibom State will sway votes for the party in a state dominantly controlled by the PDP may be misplaced.

The greatest challenge to Nsima Ekere and the APC in Akwa Ibom State is the perception that it plans to use federal might to hijack the electoral procedure in the general election in Akwa Ibom State, a move that the people are determined to frustrate. Though it remains unproven, the APC in the state has also been linked to frequent change of police commissioners in the state. In fact, a vote of no confidence has been passed on the new Commissioner of Police in the State, Musa Kimo in the wake of the foiled attempt to take over the state legislature by minority law makers belonging to the APC. Another challenge to Ekere’s ambition is the doubt that his promise to serve one term has raised. No many believe that he will keep to this

Iboro Otu (Abundant Nigeria Renewal Party) Apart from being a successful investor in media, agriculture and construction, one thing that stands Iboro Otu out of the crowd is his avowed love for his people of Akwa Ibom State. He has demonstrated this by putting his money where his mouth is through a pan-Akwa Ibom youth enlightenment and empowerment group known as ALERT Nigeria.

Otu who is running for the office of the governor of Akwa Ibom State on the platform of the Abundant Nigeria Renewal Party (ANRP) said, “he has witnessed the continuous yearnings of the Akwa Ibom people for a government that is effective, inclusive, equitable, transparent, accountable, futuristic and respects the rule of law.

Past governments have always under delivered because they lacked these qualities. The people of this great state deserve the best and that is what I am offering them.

I am pleased to tell you that I have been working tirelessly with a great and dedicated team with whom I have diligently formulated strategies, policies and plans that will lead Akwa Ibom to a glorious destination.

We will operate a policy where decisions are made transparently in the best public interest, where the right people are provided with the right tools and motivation for the right jobs; where services are provided without favour, where our children’s futures are guaranteed, where our lives are protected, and where responsibility and professionalism are our watch word.”

The ICT guru has understandably posited that he will use technology to make a difference given the opportunity to govern Akwa Ibom State. He argued, “the world is moving into a new era dependent on technology; from solar energy dependence, digital agronomy to the Internet.

We must be part of it. Solutions for food, shelter, security and socio-economic transportation are issues many developed countries are tackling comprehensively. These are solutions we can build upon and dominate in our state. The world is in huge demand for skilled and knowledgeable workforce, so it makes sense that we invest in our key priority areas of education, health, ICT and agriculture. The rewards are evident, considering the abundance of investment capital worldwide. I

Architect Ezekiel Nya-Etok (Young Democratic Party) In his core area of competence, which is housing, Ezekiel Nya-Etok, an architect is a household name.

He has kept an admirable enduring campaign for revolutionary reforms. In Akwa Ibom State, the popular Shalter Afrique Housing Estate in Uyo, was conceptualised and executed by Nya-Etok. He is also known to have carried out a similar project for former Delta State Governor, Dr. Emmanuel Uduaghan.

Nya-Etok’s concern for the less-privileged has been expressed through a concept called ‘social housing’. A showpiece of this idea is soon to be commissioned at Ikot Ntuen Nsit in Nsit Ibom local government area. He said, “I have devoted 30 years of my entire life to social housing, which is housing for no income earners, low income earners and lower-medium income earners. Today, I’m moving from social housing to social governance. I want to put in place a government that will benefit the poor.”

The National Chairman of Young Democratic Party (YDP) and the party’s governorship candidate in Akwa Ibom State, Nya-Etok proudly wears a crown of grey hair which suggests that he is advancing in age, an interesting irony for a man who leads a political party that claims to have youths as their critical stakeholder. However, he explained that one of the things militating against Nigeria’s development was lack of mentorship and proper guidance of the youths. With YDP, Nya-Etok believes he can successfully inculcate the ethos of good governance into the youths, as a good and successful and good father. Though he has the means to live in comfort and not be bothered about the plight of other struggling Nigerians, he continues to seek an opportunity to serve the people in the capacity of an executive governor.

In 2007, he was one of the 54 aspirants that jostled for the PDP ticket, which was won by Senator Godswill Obot Akpabio. In 2015, he supported the quest of Governor Udom Emmanuel, reasoning that his rich private sector background was what the state needed to move forward.

Apparently, Emmanuel has not performed as creditably in the estimation of Nya-Etok, that is why he wants his job. This time, he has fine-tuned the housing model into a system called, ‘social governance’. He says it is governance that has its root at the advancement of the lives of every segment of the social class. He says he does not believe that workers and those who do not earn from any formal sector are getting their due in the present system of governance. According to him, “It is possible to have free medical service for everybody. It is possible to have a state where there is no minimum wage but living wage. It is possible to have a functional educational system. We can make private schools unattractive by bringing back public schools and making them work. I want to make education my centre piece.”

T H I S D AY Ëž ÍąÍŽËœ Ͱ͎ͯ͡

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FEATURES

Group Features Editor: Chiemelie Ezeobi Email chiemelie.ezeobi@thisdaylive.com, 08152252325

UniďŹ ed Lifestyle at its Finest To round off the year 2018, Nigeria’s largest and leading lifestyle fair “Style by Zenithâ€? took place in Victoria Island, Lagos, bringing together fashion, entertainment and lifestyle at its finest. Mary Nnah writes

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o round off 2018, Nigeria’s largest and leading lifestyle fair “Style by Zenith� took place in Victoria Island, Lagos.

The fair was two-day convergence of connoisseurs, vendors and enthusiasts in lifestyle, fashion, entertainment, beauty, automobiles and food industries.

Tagged, “Style by Zenith�, it was an initiative to provide a classy meeting point for purveyors of lifestyle products and the public to interact while enjoying life musical performances by top Nigeria artists. It was further aimed at engaging the Nigerian lifestyle ecosystem by connecting consumers to every aspect of quality and affordable living thereby facilitating the growth of individual retail and SME businesses in Nigeria. It featured lifestyle fair, model master class, rock the runway and music concert.

Fronted by leading influencers like Alex “Unusual� Asogwa, Denola Grey, Uti Nwachukwu and Steve Chuks who brought on great style to the event, the fair featured masterclasses anchored

by TV personality Bonang Matheba; international supermodels Oraine Barrett and Tarmar Awobotu; vendors’ exhibition; runway shows and daily music concerts with performances by Waje, Adekunle Gold, Simi, Mayorkun, Timaya, Kizz Daniel, Wande Coal, 2Baba and Bobby Valentino.

The fair had attendees throng the venue in their hundreds and hosted by Mercy Ajisafe, Eku Edewor and Ill Rymz, who all brought on their finesse to make the fair an exhilarating show and a perfect way to shut down the year.

Organised by Virtual Xchange Limited, strategic partner, Africa, for international premium fashion, lifestyle and entertainment television network, Fashion One, in partnership with apex financial institution Zenith Bank, the fair has marked the first of many future collaborations between the two iconic brands.

Fashion One operates a global lifestyle and entertainment TV network offering a comprehensive coverage of inspirational fashion.

Highlights For many, the highlights of the fair include the super runway shows walked by only the best of models who strutted their stuff in pieces from hand-picked premium fashion houses; guest appearances from Tobi Bakre, Akin Faminu, Laura Ikeji, Emmanuel Ikubese, Anita Adetoye and the impromptu on-stage dance performance by former Big Brother Naija housemate Alex “Unusual� Asogwa, which sent fans into a frenzy.

There was also exhibition of beauty and lifestyle products, accessories, food and confectioneries, entertainment for adults and children as well as performances by top Nigerian artistes among many other activities.

Fashion Ecosystem Speaking at the event, Chief Executive Officer of Virtual Xchange Limited, Mr. Kaycee Kennedy said the collaboration with Zenith Bank to develop the “Style by Zenith� platform not only emphasises the brand's resolve to build and strengthen the fashion ecosystem, but to drive the business of fashion in Nigeria. “We need to heed the call to focus on Fashion Trade, by making fashion Africa’s biggest export to the world�, he noted.

Hence, the collaboration with Zenith Bank was in keeping with Virtual Xchange and Fashion One’s dedication to creating captivating, fashion, entertainment and lifestyle engagements, towards developing the African fashion and lifestyle industry. “You have a financial institution that is willing to finance the creative industry to provide that platform that will make it possible to educate the people and create a perfect interaction within the industry.

We sit in the industry space and they provide the financing and funding. This is not a runway show or fashion. Zenith Bank is getting into a lifestyle.

They are looking at the entire lifestyle ecosystem and fashion is a component of that eco-system.

Other financial institutions have looked at fashion as a single entity but Zenith Bank is looking at lifestyle ecosystem�, Kennedy said.

Kennedy who expressed the hope that the collaboration will bring about development to the business of fashion, added, “it is about time we stopped seeing fashion as entertainment, we need to look at the business of fashion. The Nigerian music

Models on parade

Discussant at the Masterclass today has gone global because somebody provided the platform to take Nigerian music internationally.

"The Nollywood industry has gone global because DSTV provided African Magic. Nobody has created a platform to take the African fashion to the international world. So, from the Fashion One standpoint, we want to create a platform that would tell and take the African fashion story to the global community."

Life Experience Having been in the modelling business professionally for 14years, entrepreneur, philanthropist and supermodel, Tarmar Awobotu, who also doubles as Chief Executive Officer of Ice Model Management, a South Africa-based modelling agency, during the model master class spoke extensively on growing one’s career as model. “I give God the glory because in 2005 I was opportune to move out of Nigeria with some other models and that was how I got my break. And I have been with one particular agency for the past 13 years and I can tell you that I am a permanent contract holder and I do not have any regret so far, whatsoever. All of this is to encourage you that whatever you want to do, stay focused�, she noted.

Speaking on the challenges faced in the Nigeria modelling industry and what needs to be done to overcome them, she said: “I think agencies should begin to think about the models. Most of them think about themselves and the money that goes into their accounts. They also need to think about the models because some of these models go into modelling because they want to be able to feed their families and do some other things, so they need to push the models as much as possible so that they can get more jobs and make more money".

Stressing the need to encourage Nigerian models and upcoming models, she said, “The job of the agencies is to ensure that the models are working and not as a figurine in their agencies.�

The international super model from started modelling in Nigeria but at some point moved to South Africa where she is now based. “I am from Ogun State but I am based in South Africa.

I schooled here in Nigeria. I actually went to the

University of Lagos and I was also modelling as well but when the opportunity to move abroad came, I jumped at it. I was Miss Tourism 2004 and I did so many fashion shows that I can’t even remember and I worked with so many great designers that I still work with up till date�, she disclosed further.

Awobotu who despite her international exposure still comes to Nigeria very often to do some jobs, said, �I started my journey from Nigeria and I will never forget Nigeria, so every October I am in Nigeria for the fashion week".

Awobotu who studied Business Administration at the University of Lagos but abandoned it for the runway said, “I have passion for fashion and that is why I have gone into it. And I didn’t drop business administration because I have started my own business and so I am still along the line of what I studied in school. I have been modelling for 17years and I’m 33years old now.�

Awobotu who has ventured into various other things as she grows older in the trade is not in a hurry to abandon her modelling career. “I have already ventured into other businesses but the fact that I’m getting older does not mean I won’t be modelling again. It has always been said that, once a model, forever a model. So even at 90, I am still going to be modelling�, she added while addressing young and aspiring models.

Speaking on her early journey as a model beginning from Nigeria, she said, “Starting from Nigerian wasn’t smooth. I had a few challenges but after a while I got into it and then moved to South Africa. It wasn’t that easy going to South Africa but when you know what you want to do, you really need to stay focussed and after a while you would get there.�

The model scored the Style by Zenith fair a hundred per cent, adding that, “there are trying to put Nigeria in the fashion map globally. So whether it is a small or big show, the fact that they are trying in their little way to do this, it is a very good thing".

Lifestyle Collaboration General Manager, Zenith Bank, Mrs. Wunmi Ogunbiyi, said, “What style is meant to represent

is a 360 of every human being whether it is food, cloth or how you do your hairstyle, everything.

When you marry these with your finance, you have collaboration. What I’m trying to say is that as the biggest brand, it makes sense for us to be able to bring these things together. We have nothing to do with what anyone else is doing. It just makes sense that if we do your finance, we should be involved in your lifestyle. And for me, we would learn and we will keep doing it.�

Ogunbiyi also spoke on the topic, “Monetising Your Career�, during the masterclass. The one onetime beauty queen said being a beauty queen and modelling in 80s was completely different from what is obtainable these days. She noted however that modelling for her was not by choice but by circumstance. “But what came out of it taught me that there was a lot I could do. And that is what I want you to realise when you think about modelling. It is not just about walking the runway and taking photographs. There are other elements of modelling that you make so much money from.

I think one thing that is very important is that you must understand the 360 of modelling and which part you fall into. Not everyone has long legs or beautiful skin but there are other areas. You can be a modelling agent, photographer or even a contractor and still follow your passion. So when you think of modelling, you must realise that you don’t need to be a particular stereotype. “There are other areas to explore and the good thing about Style by Zenith is that you don’t necessarily have to be a particular way to excel. Zenith in its wisdom has decided to open the doors for all to come in and see and explore the situation in terms of modelling, partnership and style. So there is room for you to grow in any area you want to but the main thing is your finance. Is your finance well managed? It is very expensive to be a model, so let’s not just look at the beauty of the whole thing, let’s look at practical common sense of modelling and I think that is key�, Ogunbiyi sad.

The event also marked the unveiling of ‘The Zenith Model Search’, collaboration between these brands, which promises to spice up the fashion world in 2019.

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FEATURES

The Rise of Leo One year after it was launched, UBA’s Leo has helped in revolutionising the use of artificial intelligence across digital banking platforms in Africa, writes Sunday Ehigiator

I

t only used to be available on Facebook Messenger, but Leo, United Bank for Africa’s (UBA) chatbot for banking, was launched for Whatsapp in September 2018. It was another win for Leo, who has constantly evolved, since its birth in January 2018, to become one of the most radical pieces of banking intelligence in the world.

Features Versatile and intuitive, Leo has the ability to do a wide range of things, including funds transfer, call card top-up, checking of the account balance, retrieval of bank statements and even open an account for new customers.

For customers who have engaged with Leo, they credit it for automatically extracting account details without hassle and generally easier to use than its counterparts. For example, Leo automatically detects account numbers via a customer’s Whatsapp mobile number and goes ahead to seamlessly help customers check their account balance and top-up airtime.

Customers say Leo is more personable, more human, and it feels like talking to an experienced customer representative. It also has the ability to help customers easily lodge and process complaints with adequate and timely feedback. All that is needed is a Whatsapp or Messenger account and Leo is just a message away.

Pioneering AI for African banks UBA changed the face of e-banking when it created Leo to enable customers make use of their social media accounts to carry out key banking transactions.

At the official launch of Leo, which took place in Lagos, customers of the bank were given a step by step demonstration on the novel way of delivering lifestyle and quality banking through the Facebook Messenger chat platform.

It was the first time that a financial institution in Africa had come up with such a solution to simplify the way customers transact, a technology that has now become necessary in today’s fast-paced world with demands for quick-time transactions and response.

With the launch of Leo, customers have been able to open new accounts, receive instant transaction notifications, check their balances on the go, transfer funds and airtime top up. They have also been able to confirm cheques, pay bills, apply for loans, freeze accounts, request for mini statements, amongst other things.

At the occasion, the Group Managing Director and Chief Executive Officer, UBA, Mr. Kennedy Uzoka, had said that the launch of Leo is part of initiatives aimed at putting the bank’s customers first with UBA continuously developing strategies aimed at easing transactions for the bank’s numerous users, while ensuring utmost safety of their transactions.

Uzoka had said, “The formulation of this product, is consistent with the bank’s customer-first philosophy, where we are doing things not the way we like, but focusing on what the customers want, where they want it, and in the exact platform they want it. “At UBA, we have been working with technology giants that have the global capacity to ensure not only seamless but also effortless banking for millions of our customers across Africa. We at UBA, have collaborated with Facebook to come up with this innovation that is capable of revolutionising the way banking is done in Africa.�

Uzoka noted that Leo will, in the nearest future, show up on other social platforms and added that all it takes to enjoy the services is simply to have a Facebook account.

As he unveiled the character of Leo, Uzoka stated: “Leo being an intelligent personality will give you feedback instantaneously as you transact your business on the platform. A solution that is from the customer’s standpoint and is easy to use by anyone.�

Also speaking at the launch of Leo, the Group Head of Online Banking at UBA, Mr. Austine Abolusoro, who conducted a step by step demonstration on the working of Leo, reiterated that Leo is not just a chat machine, but an artificial intelligence personality meant to address any type of banking concerns raised by customers. “Leo is ready and waiting to help with most transactions and to deliver any form of banking services. Leo is operating a lifestyle banking platform on Facebook Messenger to assist with your transactions while chatting with your friends and business partners. The security with this platform is that for every transaction, an OTP (One Time Password) is

L-R: Managing Director, Euromoney, Mr. John Orchard; General Manager, Energy Bank, Mr. Ebele Ogbue; Group Managing Director/CEO, United Bank for Africa Plc, Mr. Kennedy Uzoka; and 1966 England World Cup winner, Sir Geo Hurst; at the Euromoney Award for Excellence where UBA Group was conferred with Africa’s Best Digital Bank in London

Group Managing Director/CEO, United Bank for Africa Plc, Mr. Kennedy Uzoka generated to the phone number that is registered on your account.�

He explained that with Leo, your banking needs become easy and simple, as simple as chatting up a friend.

Available across the continent Leo, like its creators, isn’t confined to Nigeria, but has spread across Africa, changing the face of e-banking in Cameroon, Zambia, Cote D’Ivoire, Senegal, Congo DRC, Tanzania, Kenya, Uganda, Sierra Leone, Gabon, Chad, Congo Brazzaville, Benin, Mozambique, Zambia, Guinea, Burkina Faso.

Just as it did in the Nigerian market, Leo crossed borders and brought ease to customers in each country it was launched, providing them with the comfort of conducting financial transactions from the comfort of their social media accounts.

Apart from helping customers conduct financial transactions, Leo also evolved to add extra value to its users, such as providing them with the names of global personalities around key markets, the current time in any city and weather conditions.

UBA Executives said Leo’s continental launch was part of the bank’s efforts to remain the leading financial institution in Africa

Accolades for excellence The birth of Leo has seen UBA add to its evergrowing list of laurels, especially as it relates to digital banking across the continent. In 2018, UBA emerged as the best bank in the digital category at the prestigious Euromoney awards in London This further lends credence to UBA’s dominance in the digital banking space.

The Euromoney awards cover more than 20 global product categories, best-in-class awards and the

best Banks in over 100 countries around the world.

It recognises institutions that have demonstrated leadership, innovation and momentum in the markets in which they operate.

In selecting its recipients, Euro money’s principle is hinged both on quantitative and qualitative data to honor institutions that have brought the highest levels of service, innovation and expertise to their customers. So when UBA emerged as the winner in the digital banking category, beating all other banks in Africa, it was a sign of its investment in cutting-edge technologies, one of which gave birth to Leo. The bank’s Chief Executive, Uzoka, who received the award in London, noted that it was an affirmation of the bank’s unmatched commitment to service excellence. “This only goes to show that our resolve in continuing to deploy innovative solutions that place customers first, using cutting edge technology for their collective satisfaction and excellent banking experience is important to us,� he said. “This recognition will further spur us to do more in meeting the needs of our customers with unrivalled services.�

He also pointed out that the award was a reminder for the bank not “to relent in our pursuit of excellence and to continue to lead the new digital age in Africa, within the financial services industry.�

Euromoney Magazine’s Editor, Clive Horwood, explained that: “Despite fierce competition, one bank stood out in the last year for the inventiveness of its efforts in digital banking: United Bank for Africa. One of its signature launches in Nigeria was Leo, an e-chat service using artificial intelligence to help customers execute transactions on Facebook.�

Also, at the International Finance Awards, which is organised by the International Finance Magazine,

UBA won the ‘Most Innovative Digital Bank’ award.

Speaking on the feat, UBA’s Abolusoro noted that it was an affirmation that “Leo�, one of the bank’s investments in cutting-edge technology, was disrupting the continent’s banking behaviour. “UBA’s vision has always been and will remain, dominating Africa’s digital banking space. Our resolve is to provide unparalleled experience across all its channels,� Abolusoro said.

International Finance Magazine, is a premium financial and business analysis magazine published

by UK’s International Finance Publications Ltd.

Bank proďŹ le UBA was incorporated in Nigeria as a limited liability company after taking over the assets of the British and French Bank Limited who had been operating in Nigeria since 1949.

The United Bank for Africa (UBA) Plc merged with Standard Trust Bank in 2005 and from a single country operation founded in 1949 in Nigeria – Africa’s largest economy – UBA has become one of the leading providers of banking and other financial services on the African continent.

The Bank provides services to over 14 million customers globally, through one of the most diverse service channels in sub-Saharan Africa, with over 1,000 branches and customer touch points and robust online and mobile banking platforms.

UBA was the first Nigerian bank to make an Initial Public Offering, following its listing on the NSE in1970. It was also the first Nigerian bank to issue Global Depository Receipts.

The shares of UBA are publicly traded on the Nigerian Stock Exchange and the Bank has a welldiversified shareholder base, which includes foreign and local institutional investors.

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5 ) * 4 % ": t WEDNESDAY, JANUARY 30, 2019

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BUSINESSWORLD R A T E S MONEY MARKET OVERNIGHT OBB

A S

A T

REPO 13% 12.08%

CALL 1-MONTH 3-MONTH

15.50% 15.25 % 15.38%

J A N U A R Y S & P INDEX INDEX LEVEL 1-DAY MONTH-TO-DATE

363.10% 0.20% 1.72%

Group Business Editor Obinna Chima Email obinna.chima@thisdaylive.com 08024557078, 08152447875

2 5 , S & P INDEX 1/4 TO DATE YEAR TO DATE

2 0 1 9 1.72% 1.72%

EXCHANGE RATE N306.80/1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Pension Assets Hits N8.5tn

The National Pension Commission(PenCom) has said the overall pension assets hit N8.50 trillion as at November 2018.

The Commission, said out of the above ďŹ gures, 23 insurance organisations comprising 17 insurance brokers and six insurance underwriting ďŹ rms contributed and remitted over N426.36 million for their employees in 2018, while employers from various other sectors of the economy contributed the rest.

PenCom, disclosed this in its summary of pension fund assets as at 30 November 2018 and Schedule of Employers issued with CertiďŹ cate of Compliance in accordance with Provision of the Pension Reform Act (PRA) 2014 as at January 21.

According to PenCom, insurance operators such as, Leadway Assurance Limited, which has 287 employees, contributed and remittedN137.11million;AIICOInsurancePlcremittedN145.06million for 259 employees; Linkage Assurance Plc - N50.66 million for 164 employees; Custodian Life Assurance Limited - N19.38 million for 47 employees; Custodian and Allied Insurance Limited - N55.67 million for 125 employees and Guinea Insurance Plc - N24.31 million for 96 employees.

NAICOM Restructures Goldlink’s Board

BUSINESS PARTNERSHIP

L-R: Managing Director Nigeria, Opportunity Network, Adriana de la Cruz Duffo; Chief Executive Officer, Sterling Bank Plc, Abubakar Suleiman, and Divisional Head, Corporate Client Coverage & Sales, Mojisola Bakare, at a media briefing to unveil a partnership between opportunity network and the bank in Lagos‌recently

Experts Foresee Bright Prospects in Oil Palm Companies Goddy Egene Investors in companies operating in the oil palm sector of the Nigerian economy have very bright prospects of reaping high returns going forward.

This was the submission of analysts at Afrinvest (West Africa) in a special report on the oil palm sector.

According to the report, oil palm is currently the most consumed edible oil in the world with Malaysia and Indonesia being the top major producers.

Indonesia (41.5 million metric tonnes) and Malaysia (39.5 million metric tonnes) accounted for an average of 80.1 per cent of global production between

ECONOMY 2016 and 2018.

Other leading producers of oil palm as at 2018 included Thailand (2.9 million metric tonnes), Colombia (1.5 million metric tonnes) and Nigeria (1.0 million metric tonnes).

The report pointed that in Nigeria, oil palm production and export historically contributed substantially to the country’s external reserves and agricultural gross domestic product (GDP), as palm oil and palm kernels exports were between 15 per cent and 20 per cent of the country’s total exports.

It added that oil palm prices

in Nigeria are relatively higher than international prices primarily due to import restrictions on the commodity following the introduction of the Central Bank of Nigeria (CBN)’s list of 42 foreign exchange (FX) excluded items.

This policy, when introduced in 2015, according to report, led to a surge in oil palm prices as local demand for crude palm oil (CPO) soared while importation and total industry supply tapered.

It further noted that based on this, listed companies Okomu Oil Palm Plc and Presco Plc witnessed notable and faster pace of improvements in revenues and profitability even as growth in production expansion has been slower.

“Also, we highlight that listed companies have focused on expanding production, especially over the last three years by investing in increasing total land area under cultivation, expanding milling and refining facilities to meet up with expected additional output. “We hence expect both companies to record continuous revenue and profitability growth over our forecast period,� the report noted.

According to Afrinvest, based on their understanding of the sector, it was their view that the oil palm industry is keenly positioned to soar further over the coming years as investments in expanding milling and refining capacity of Continued on page 24

PenCom Bows to Pressure, Licences NUPENCO Ebere Nwoji The National Pension Commission(PenCom) has finally bowed to pressure by granting operational licence to the Nigerian University Pension Management Company(NUPENCO), to manage all university staff pension contributions under the contributory pension scheme (CPS).

Approval for the establishment of the NUPENCO was disclosed

by PenCom in statement made available to THISDAY. The commission, in the statement explained that: “National Pension Commission has approved the issuance of a licence to NUPEMCO to carry out the business of a Pension Fund Administrator (PFA). “This approval is consequent

PENSION upon a detailed evaluation of NUPEMCO’s compliance with the requirements, terms and conditions stipulated by the commission.�

The Academic Staff Union of Universities’ agitation for the establishment of a separate body that would manage the pension contributions of university workers dates back to 2013, when in an interview, the then chairman ASUU, University of Lagos Chapter, Dr. Karo Ogbinaka, had stated that due to irregularities and lack of transparency noticed by union members in the management of its members’ pension fund by their various pension fund managers, they had unanimously agreed to pull out of existing

pension fund administrators licenced by PenCom. NUPENCO would be domiciled at the University of Lagos and would start operation by first managing the pension fund of academic staff of universities nationwide, after which it would be expected to take charge of all staff of universities and other tertiary institutions under its management.

Ogbinaka, said the purpose was to ensure that ASUU members have their contributions intact, adding that a situation in which there is disparity in the amount the universities deduct from the salaries of the ASUU members and the amount the PFAs record as savings in their Retirement Savings Account (RSA) would not guarantee safety of the members’ hard earned money. “ASUU has started the

recruitment of personnel that will manage the board of NUPENCO at the University of Lagos. So, if anybody is saying we don’t have constitutional right to have what concerns our destiny, if they are still doubting it, please, you can go to Google search engine and find out,� he said.

He explained that “the formation of NUPENCO is part of the issues determined by law in the country. The law is open to anybody that wants to set up its own pension manager as long as it can follow the rule of law and ASUU will not do anything that is illegal. “We have members who are lawyers, even senior advocates; anywhere you have a university across the federation.�

PenCom had insisted that the Continued on page 24

The National Insurance Commission has eected changes in the interim board and management of the Goldlink Insurance Plc. The changes disclosed by the corporate communications unit of the underwriting ďŹ rm, has seen the exit of the erstwhile Acting Managing Director, of the company Mrs Funke Moore, a statement disclosed has successfully completed her mission of repositioning the company for capital raising.

According to the statement, Mr. Edore Kenneth Egbaran, has already stepped into her shoes as the new Managing Director / Chief Executive OďŹƒcer.

Also, Mr. Nahim Abe Ibraheem, was appointed Chairman of the Board with Messrs. Olanrewaju Sulaimon, Adeyinka Olutungase, FaroukLawalYolaandMrsTonbofaAshimiasmembersoftheboard.

NAICOM has also conďŹ rmed Moruf Apampa as Executive Director FBNInsurance FBNInsurance Limited, a member of the FBNHoldings Company announced the appointment of Mr. Moruf Apampa as Executive Director, Business Development of the company.

Apampa’s career in insurance started atT.A. Braithwaite Insurance Brokers and Company in 1994. In 1997, he joined Elmac Assurance Company Limited as Special Products Manager and grew through the ranks to become the Marketing Manager of the ďŹ rm with experience in managing the company’s branches in Abuja and Kano at various times. A seasoned Insurance Practitioner, Moruf has over 20 years of insurance, Sales Marketing and Business Development experience in leading insurance companies including AIICO Insurance Plc and Sunu Assurances Nigeria Limited where he led the team as its MD/CEO and launched the ďŹ rst USSD mobile solution in the insurance industry before joining FBNInsurance as Executive Director, Business Development in 2018.

Kenya Central Bank Holds Rate

Kenya’s central bank held its benchmark lending rate at nine per cent on Monday, the bank’s monetary policy committee said, saying ination was anchored within the target range. Policymakers said the decision, the third hold in a row since September, was also supported by their view that the economy was “operating close to its potentialâ€?, they said. According to Reuters, year-on-year ination was 5.7 per cent last month, well within the government’s preferred band of 2.5-7.5 per cent. Economic growth accelerated to six per cent in the third quarter of last year, up from 4.7 per cent a year earlier. The committee, however, warned of the potential for higher volatility in the global ďŹ nancial markets this year, mainly due to slowing global economic growth, Brexit and a trade war between the U.S. and China. The Kenyan shilling was ďŹ rm against the dollar on Monday due to hard currency inows from diaspora remittances and thin oil importer demand ahead of a central bank rate meeting.

“So, certainly, our non-oil tax rSome of the indicators in the Ease of Doing Business composition do not properly capture the critical variables in our own environment.Issues of power, transportation, security and our regulatory environment are not captured. We need to address all these other variables that are not on the list of the ease of doing business parameters�

DG, Lagos Chamber of Commerce and Industry,

Muda Yusuf

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EXPERTS FORESEE BRIGHT PROSPECTS IN OIL PALM COMPANIES

NIRSAL Mulls 40% Rebate for Farmers

listed sector players crystallise. “Also, the sector, which has ridden on positive government support since 2015, based on oil palm import restrictions introduced by the CBN has provided premium pricing opportunity for players. “Similarly, the federal government posture towards supporting agriculture has enabled low cost capital expenditure financing by industry participants compared with other sectors in Nigeria,� they added.

Afrinvest explained that they believe that Okomu Oil Palm, where we expect oil palm and rubber trees on about 8,809 hectares and 1,989 hectares to mature within our forecast period presents an outlook on additional output. “Presco, which has chosen to specialise in the production of speciality fats and oil , enjoys premium pricing on its products.

We opine that the company’s profitability has been constrained by the weak capacity of its refinery and fractionalisation plant which has a capacity of only 100.0 CPO MT/day.

James Emejo in Abuja

PENCOM BOWS TO PRESSURE, LICENCES NUPENCO law establishing the contributory pension scheme and the pension fund administrators was still intact and had not permitted anybody to pull out of the scheme or establish own pension fund manager without due licence from the regulatory body.

Consequently, it had argued that NUPENCO was not backed by law and, therefore, could not exist.

PenCom had then insisted that no association or labour union, including ASUU, has the constitutional right to pull out of the contributory pension scheme established by the Pension Reform Act (PRA) 2004 or set up its own pension fund administrator without the approval of the commission.

But with the latest approval of NUPENCO, all university workers would have to quit their pension fund administrators to register with NUPENCO.

The Managing Director, Nigerian Incentive-Based Risk Sharing System (NIRSAL), Mr. Aliyu Abdulhammed, has disclosed that the agency intends to create over 24,000 direct jobs in the agriculture sector, particularly the seed sub-sector and other relevant areas.

He also revealed plan to grant 40 per cent rebate to farmers that are able to repay their loans.

He said NIRSAL, in collaboration with the National Agricultural Seed Council (NASC) and the Seed Entrepreneurs Association of Nigeria (SEEDAN), is determined to support the creation of supporting mechanisms and incentives including financing frameworks, issuance of credit risk guarantees and interest drawbacks to financiers and investors to make the seed and grain value chain profitable as well as an avenue for employment generation and poverty reduction.

Speaking at the opening of a stakeholders’ round-table discussion on seed and grain processing technology for Nigeria, the MD further assured operators of some sort of rebate for those who utilise and pay back bank loans.

Dearth of funding remained a key challenge to the development of the agricultural subsector.

He said: “Whatever funding we are able to get you from banks; we are going to negotiate the interest rate so that it works well for you. “On top of that, any member in this value chain that is able to utilise the funds and able to

pay back, we will grant you up to 40 per cent rebate from whatever cost of funds you are able to pay back to the banks.�

Abdulhammed, said the agency was poised and committed to increasing its relevance as the rallying point to facilitate the development, financing and effective working of seed and grain processing business models in the country. According to him, farmers who are trained in the use of certified hybrid seeds still recorded low viability and germination rates, low or average productivity and up to

30 per cent postharvest losses which contributes significantly to Nigeria’s annual $9 billion worth of postharvest losses.

He said the development often resulted in lower capacity to service the consumer, industrial and export grain markets, lower returns to the farmer, inability to fulfil financial obligations or repay loans, sustained poverty and impoverishment.

He said these increases the aversion of financial institutions to lend to agriculture, particularly, primary production, thereby starving the sector of

the much-needed finance capital for growth, development and socio-economic impact.

The meeting sought to leverage expertise of top officials of PETKUS GmBH, a German and world leading post-harvest management company with a century history in manufacturing of custom-made post-harvest solutions across the world.

According to the NIRSAL boss, PETKUS has expertise in high precision seed processing equipment and technology solutions to address issues of poor separation of dead, broken and

non-viable seeds and issues of heterogeneous seed sizes which pose significant problems for mechanised planting.

He said: “This solution has potentials to bring about significant yield increase for smallholder farmers from two tons/ha to three-five tons/ha and as well open up local seed companies to the international seed market. “High precision grain cleaning to capture best value, eliminating moisture content, aflatoxin contamination and other infestation at point of harvest.�

SPECIAL RECOGNITION

L-R: Automated Meter Infrastructure (AMI) Development Manager, Mojec Meter Company, Mr. Wole Solanke; MD/CEO, Mojec International Group, Ms Chantelle Abdul; Chairman, Mrs. Mojisola Abdul and Head, Installations, Mojec Meter Company Engr. Monday Ubogu, during the company’s presentation of the ‘Companies to Inspire Africa 2019’ award to the company by the London Stock Exchange Group in Lagos‌ recently

Dangote: Investment in Refinery, Petrochemicals Driven by Innovation, Efficiency Hamid Ayodeji The ongoing investment in refining, petrochemicals, fertilizer and gas is driven by the desire to bring innovation and efficiency into all aspects of Nigeria’s oil and gas sector, the President/Chief Executive, Aliko Dangote has said.

Dangote, who made this disclosure at the ongoing Nigeria International Petroleum Summit in Abuja, said the company was committed to the concept of energy efficiency and innovation in the oil and gas sector.

The business mogul, whose 650,000 barrels-per-day capacity refinery is the largest in Africa, was represented by the Group

Executive Director, Government and Strategic Relations, Dangote Industries Limited, Engr. Ahmed Mansur. Addressing participants at the forum, Mansur, was quoted in a statement to have said the theme of the conference, “Shaping the Future through Efficiency and Innovation�, was quite apt; given Nigeria’s quest for economic transformation.

According to him, Aliko Dangote is passionate about efficiency and innovation in the oil & gas sector through adding value to the hydrocarbon process.

Mansur said the company’s passion and drive is seen in the building of the project, which will become the world largest single train refinery on comple-

tion and therefore a boost to Nigeria’s economy. He stated: “The Refinery can meet 100% of the domestic requirement of all liquid petroleum products (Gasoline, Diesel, Kerosene and Aviation Jet), leaving the surplus for export. “This high volume of PMS output from the Dangote Refinery will transform Nigeria from a petrol importdependent country to an exporter of refined petroleum products.

The refinery is designed to accommodate multiple grades of domestic and foreign crude and process these into high-quality gasoline, diesel, kerosene, and aviation fuels that meet Euro V emissions specifications, plus polypropylene.�

Mansur disclosed that Dangote is also constructing the largest fertiliser Plant in West Africa with capacity to produce three million tonnes of Urea per year as part of the gigantic economic transformation project. He explained that the Dangote Fertiliser complex consists of Ammonia and Urea plants with associated facilities and infrastructure. “Nigeria will be able to save $0.5 billion from import substitution and provide $0.4 billion from exports of products from the fertiliser plant. Thus, supply of fertiliser from the plant, which is set for commissioning before the second quarter of 2019, will be enough for the Nigerian market

and neighbouring countries,� he added.

Speaking further, he said at a time when the oil and gas industry and the global economy is in a state of flux, it is most appropriate that attention should be given to the future especially given the incredible speed and quantum of change taking place in every facet of human endeavour. “Our economy in particular cannot afford to ignore these massive changes. Our decades of dependence on this industry for our economic well-being and the urgent need for diversification has been widely recognised and is clearly the most critical challenge for our policy makers.�

BDCs Urged to Employ Compliance Officers for Risk Management Group Business Editor

Oluchi Chibuzor

Obinna Chima

Capital Market Editor

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AgriBusiness/Industry Editor

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Comms/e-Business Editor

Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Senior Correspondent

Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents

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Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? (Money Market) Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? (Maritime)

The Association of Bureaux De Change Operators of Nigeria (ABCON) and Nigeria Financial Intelligence Unit (NFIU) have advised Bureau de Change (BDC) operators to employ designated compliance officers to handle all compliance-related issues.

This will also help in strengthening risk management in the operaations of BDCs. The advice was given at the end of a four-day joint nationwide training/sensitisation programme on Anti-Money Laundering and Countering the Financing of Terrorism

(AML/CFT) reporting for BDC operators by both institutions.

The training, which has been ongoing since December 11, 2018, focused on the obligation of registering and filling reports on the NFIU’s Anti-Money Laundering portal. A session was held on January 5, 2019 in Kano and another session held on January 22, 2019 in Abuja among others.

As part of the NFIU/ABCON partnership, ABCON has taken the train-the-trainers training of the NFIU to the six geopolitical zones of the country in order to strengthen capacity for over 4,000 BDC operators nationwide.

Speaking at the end of the

training, ABCON President, Alhaji Aminu Gwadabe, was quoted in a statement, to have said the anti-money laundering training was intended to familiarise BDC operators with the process of money laundering – the criminal business used to disguise the true origin and ownership of illegal cash – and the laws that make it a crime.

Gwadabe said the policy on the recruitment of the Designated Compliance Officers by BDCs is already being implemented by ABCON and remains part of the association’s vision to revolutionalise BDC operations in Nigeria for

global competitiveness and transparency.

He said that money laundering and terrorist financing pose not only a threat, but are enormous threats and challenges to the economy, security, and social life in Nigeria, the region and globally.

In a statement by NFIU commending ABCON for the training, Ibrahim Pindar, said: “We wish to congratulate the ABCON on the attendance recorded on the concluded training of BDC operators on the key Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) obligation of registering and filling reports

on the goAML -Anti-Money Laundering portal�.

The NFIU advised ABCON to train BDCs regularly so as to cover AML/CFT knowledge-gap identified from most operators and also ensure that their members register on the goAML portal.

NFIU recommended that: “Those trained by the NFIU team should be engaged by ABCON to train their members on continuous basis.

Any change of Compliance Officer should promptly be reported to the NFIU. ABCON should ensure that the operators have alternates for their compliance officers for succession planning and continuity.�

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Capri-Sun Introduces New Product At a retail price of N50, Capri-Sun, a fruit drink for children in Nigeria, has been introduced in a new 100ml pouch size in order to meet an increasing consumer demand for more exciting and unique options.

The manufacturer explained that the new pouch size was an addition to excite consumers with the goodness of Capri-Sun, but more importantly, to give them the power of choice.

Still with the same delightful signature taste and playful pouch, the Capri-Sun 100ml pouch is handy, pocket-friendly and keeps to the brand’s promise of ensuring a taste of fun in every pouch. Consumers would enjoy the variety of options, ease and convenience in the 100ml pouch, as well

as its healthy, naturally tasty and satisfying experience that promotes an atmosphere of fun and adventure.

A statement explained that, “the introduction of the new 100ml pouch size is in keeping with current trends, and is based on a richer understanding of consumer desires to enjoy handy, affordable, convenient and unique Capri-Sun experience in exciting options. “For now, only available in orange and apple variants, the launch presents a key advantage to drive value and excitement into the category by offering an appealing product option in line with consumer expectations.�

According to the Managing Director of Chi Limited,

Deepanjan Roy, the CapriSun 100ml pouch size was uniquely designed in response to consumer demands. “Capri-Sun’s playful pouch and signature taste which lead to unique experiences of fun, adventure and carefree pleasure, have made it the preferred fruit drink for children in Nigeria. The 100ml pouch size will delight consumers who have craved for handy and pocket-friendly product choices. “The Capri-Sun 100ml pouch size now joins the 200ml by pouch size, which is available in cartons of 40 and 16 pouches and retails for N70, on the market shelf. It is available in all departmental stores and neighborhood shops located across Nigeria.�

Foundation Organises Forum on Fuel Subsidy Oluchi Chibuzor and Ezekiel Okpuzor The Peter Bauer Foundation has organised a debate for University Students on fuel subsidy.

According to the panellists, the nation can channel the huge amount being spent on fuel subsidy into social intervention projects and infrastructure development in order to alleviate poverty and stimulate economic activities.

Speaking at the event in Lagos, with the theme: ‘Reinvesting Nigeria’s Fuel Subsidy: Pro-poor Growth Versus Social Protection Programmes’, the Secretary of the Foundation, Abimbola Agboluaje, said the discourse was aimed at promoting policy that would trigger national development.

He also noted that the debate provided contestants the opportunity to get intern-

ship with some organisations and job placements especially for those who displayed brilliance at the issues, adding that Lagos Chamber of Commerce and Investment (LCCI) offered employment to the overall best student.

According to Agboluaje: “The debate provided the students a platform to proffer solutions to the topic on how the government can utilised the funds meant for fuel subsidy for the development of the nation, as the issues is over flooded. Several areas of the economy are suffering because of lack of massive investment needed to stimulate the growth required.�

The debate which focused on the need to remove the fuel subsidy or keep it, saw University of Lagos, as the winner of the debate, while Lasisi Ibrahim emerged the

overall best and employment with LCCI, while others got books and internship opportunities.

In his remarks, the Director, Research and Advocacy, LCCI, Dr. Vincent Nwani, said that as result of irregularities surrounding the subsidy, the nation had discouraged a lot of investors from investing in the petroleum sector.

He added that with the quality displayed by the students, the country’s future was bright despite the challenges currently.

Nwani said: “The future of Nigeria remains bright despite the challenges we are facing as a country, with what the students just displayed, fuel subsidy remains a drain on Nigeria’s economy because of the lack of transparency, thereby discouraging private sector participation.�

Firm Launches News App Oluchi Chibuzor Technology firm, Transsion Holdings, has launched a new application, Scooper, with 3.8 million users, downloadable on Google play store for Android devices.

The solution is for aggregating latest news stories.

The firm’s Marketing and Communication Manager, Nancy Nwachukwu, disclosed this at a media briefing with journalists in Lagos.

According to Nwachukwu, the app was design to improve user experience through its data saving abilities, which is up to 50 per cent.

She said owing to the need to bring up-to-speed demand of information for various android phone users, the App was designed to meet the news requirement for everyone to enjoy through

various features like novelsranging from science, fiction, mysteries and romance and free football betting tips/ live commentary, allowing all those who engages with it or refer others to earn redeemable virtual coins.

Nancy added, that the app aggregates contents from diverse areas of interest. “Scoopers app users can explore up-to-date news in categories such as politics, lifestyle, business, technology, human stories and opinion articles,� she said, adding that “is also a great platform for videos, GIFs, quizzes, and other branded contents.“Users are not at risk of overloading their phone storage because the app is light weight. Scooper is only available on android devices and available for download on Google play Store,� she noted.

The news App which recorded its highest numbers of installation in December, 2018 with over 434, 179 first time installers, has over 536 five star-rating, allows users to get other prizes apart from having it runs on their phones.

The Business Development Specialist of the company, Adegbite Michael, said the firm prides itself in utilising high sense of technology in developing the App and in partnering with the best sports data company in the world, a United Kingdom firm.

He explained: “We run our sports commentary with current data with reputable company in United Kingdom, like Opta, which is the best sports data in the world, allowing us giving account of selected football matches across major competitions around the world.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Why Your Business is Failing?

I went to see a prospect in one of our financial institutions today. I had to ask the Executive Assistant to the person we went to see, “where are your people?� The organization was practically empty. The building was looking somewhat run down and the entire environment did not look like where the serious business of financial transactions were conducted. What niggled me the most, was the fact that the organization had a recognizable brand and was still viewed as viable from the outside.

When my partner and I left the meeting. The question we both kept on asking was, “why continue to do this business?� It was clearly obvious that the business was failing from what we could see that turning it around, would be like driving a trailer with a stiff steering wheel.

You can imagine how difficult that would be.

There are many businesses in Nigeria, going through this same situation and it is disheartening. The economic landscape is not making it easy for businesses to succeed and the uncertainty of the elections and fear of its fall out has exacerbated the situation.

We both attempted to determine what could have caused this downward decline in the business. Below are some critical areas to look at to ensure that your business does not fail: The Right Manpower and Technical Competence We noticed a lack of fit between the role the individual was meant to play and what we thought she was equipped to do. It was clear that though the person may have all the technical skills in the world, her lack of soft skills would make it difficult to achieve desired results. Organizations need to ensure that when employing staff both technical skills and the right managerial or executive skills must be put into consideration, otherwise they are being set up for failure. Employees need to have an executive presence, this brings in 30-40 per cent of the revenue, because it opens doors and provides opportunities for hard business to take place.

Doing What Everybody is Doing and Misguided Objectives We were not sure that the organization had the capacity to do what it said it was in the business to do. Firstly, we did not see a strong workforce. Secondly, it appeared, adequate research had not been done on why it was doing what it was currently doing with respect to its future strategic goals. Many Nigerian businesses jump at the opportunity of doing what others are doing, without confirming that it will work for them or would be the right fit.

Adequate market or entry strategy research, pilot tests, focus groups, qualitative and quantitative research are not done. Mainly because people do not want to pay advisory fees or think they have the rudimentary knowledge to do the research and analysis themselves. Many times these research are then done, when the business begins to struggle.

Enabling Environment – Government Policies I was at the global real estate conference on Friday, where the challenges of conducting business in the sector was discussed. The knottiest problem they all had was in government providing an enabling environment and having the right policies in place to succeed.

These government policies destroy both big and small businesses. Companies usually do not proactively safeguard themselves against these ever changing government fiscal and monetary policies in our rather unfriendly business environment.

Digitization and Technological Trends Not being comfortable with digital and technological trends will destroy any business today.

The sooner you embrace technology, innovation and realize that you must think change and improvement on a real time basis the stronger your business will be. Unfortunately, many Nigerian businesses do not quickly embrace technology, some have an aversion and some do not like change. This company we went to see, were just looking at implementing a digital strategy, which many of its competitors had done over 10 years ago.

Poor Corporate Governance and Management The conclusion my partner and I both arrived at was that the company was suffering from poor corporate governance and management.

The company being a financial institution, we were sure that inadequate adherence to corporate governance requirements had weakened the organisation and made many of its processes fail. The management may not have been strong enough to hold its ground against interference and undue pressure in managing the business.

We also wondered about the strategy, management had used to drive the company, because when compared to its peers, we did not understand why the organization had not done well.

Ajaero Tony Martins says, “my most important word in business is ‘Strategy’ and the reason is this: The speed at which your business grows is directly proportional to the overall strategy deployed on that business and the team behind the creation of that strategy.�

Competition As we all know, competition is fierce these days. In many industries today, we see how competition has destroyed and is destroying players. It is survival of the fittest. Once you are deemed to be doing well, others clamour to copy you. While competition is sometimes termed to be good for your business because it makes you stretch and keeps you striving to do better, too much of it can stifle you and kill you if you are not strong enough. In view of the weak foundation of many businesses in Nigeria, they fail due to competition and not putting processes in place to mitigate the negative effects of competition.

Capital and Fraud Cash flow is the life blood of any business.

Insufficient capital is the bane of many businesses in Nigeria and can kill even the most profitable business. The organization we went to today, it was clear that an infusion of cash would help turn the business around. They were clearing working on a bootstrap budget, with limited cash and had eliminated all “unnecessary spending�, though this spending, can and is essential to their survival.

In addition, fraud is a major reason of business failure today. I was talking to my accountant a few days ago, he said the people committing the most fraud in organizations these days are female. These is an aside, though alarming. Bad employees can be a key cause of business failure.

When stealing and stripping the organsation becomes the key transaction of employees, the resultant effect can only be bankruptcy.

In conclusion, let’s work on ensuring we do not succumb to the challenges above. I know it is easy to say and hard to do. Doing your research, defining your strategy, scanning your environment, deploying the right technology, processes and employing the right people will help your business grow and shield you from failing.

Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)

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Akinwuntan: Nigeria Should Explore Comparative Advantage Managing Director, Ecobank Nigeria, Mr. Patrick Akinwuntan, in this interview with journalists stressed that Nigeria’s fundamentals remain strong, just as he urged policy makers to leverage on the country’s comparative advantage in its human and natural resources. Obinna Chima provides the excerpts: What is your outlook for the economy in 2019?

For us as I have explained, we look at the fundamentals, and you look at Nigeria’s population.

You also look at the demography of the population, whereby over 50 per cent are less than 30 years old. That speaks of growth potential. It does have it challenges, but in terms of the economic activities it demonstrates huge opportunities for growth.

You look at the intellectual capacity within the economy, as this is an aspirational economy, an economy where the average participant believes strongly he or she can do better. And therefore for us, the focus in Nigeria should remain the fundamentals. One, infrastructure, power, rail, in order to harness the significant potential in Nigeria. I have commented about this and I will keep reiterating that Nigerians are very resourceful people, participation in services where you use your intellectual capacity, leveraging on the internet and leveraging on digital asses available globally.

Nigeria should continue to focus on becoming a top player globally. It is not by accident that Facebook’s founder came to Nigeria; it is not by accident that the telcos are growing exponentially in Nigeria; it is not by accident that the level of internet and broadband growth is at such a high pace in Nigeria; and it is not by accident that our Nollywood products dominate not just the continent, but now we are becoming globally accepted. You talk of box office performance of our various productions out of Nigeria now, you talk to somebody who is less than 25 years, they will struggle to understand that western films, Indian films used to be what people used to troupe out every weekend or every night to go and watch in Nigeria. Now, we export those things. It is true we have oil but the oil should be our base, we should focus on the areas where we have comparable advantage and go ahead to realise our potential as a country. If you take fashion, Nigeria sets the standards in a simple matter as the kits worn by footballers at the football world cup. And you could see the frenzy and the willingness of people to pay for something created out of Nigeria. In the arts and culture area, we are natural leaders, we should explore it significantly. Kenya is exploring tourism, Ghana is exploring tourism, Togo has focused on being the relevant port for commerce within West Africa.

We have so much potential in Nigeria, I think what Nigerians should focus and discuss more are the opportunities we have and really highlight where we have comparable advantage and do need to scale. If you pick any country that we referred to as doing well, what they have done is concentrated their energy on their area(s) of advantage and make sure that everywhere in the world you refer to them. And it is their own way of attracting foreign direct investment, creating employment and making sure that the future is bright for their country. So for us in Nigeria, the discourse should be around the fact that we have a young demography that reflects youth, education and health and anything around basic food, basic nutrition are areas of growth. In various ways there has been effort on focus on agriculture. The ability to feed ourselves and reduce the amount of importation of rice and various drinks. Not too long ago, bottle water had to be imported into Nigeria. But there are a lot of Nigerian entrepreneurs doing it at good level now. So, we should focus on our areas of comparative advantage and use the scale of production to bring down inflation, to bring down cost of doing business, bring down interest rates. Because in the long run for the productive sector of the economy to be funded, the cost of fund has to be affordable. Given the ability of Nigerians to communicate, my own input will be that we focus on our areas of strength and keep discussing it till it becomes a global reference. Traditionally, where I come from, they say the way you call your calabash is the way every other person will call it. For us as a bank, we have demonstrated the ability first to be a true intermediator because

Akinwuntan

the role of the bank is mobilising funds from the surplus parts of the economy and funding areas where there are shortfall and the need for capital and support to grow economic activities. We have played that role significantly, whether as a group or Ecobank in Nigeria. In Ecobank Nigeria we have a balance sheet in the region of N2 trillion.

And that shows that we have demonstrated the ability to be a reliable keeper of customers’ funds and a reliable supporter of people who wish to borrow money in order to grow their business or to do their activities. We have continued to grow the net value of the company; our shareholders have confidence in us to continue to invest adequately in order that we carry on our business.

We have seen various rounds of capitalisation in Nigeria and Ecobank has always come out from it strongly. We have demonstrated that as a bank, we take prudent management of customer and shareholders’ funds very seriously. We have very strong corporate governance and ethics that guides our operations in dealing with our internal activities, in dealing with our relationship with customers and in dealing with our regulators.

It is true that in terms of a long term vision, the way you rate a bank that has the mandate that Ecobank has may not exactly be the same way you rate a one man owned entity. We are a global player, we are Pan African bank, we have a long-term vision. If you look at the things that I have explained, we had to build those rails in order to move to the next level of realising it.

So, we are doing well, we need to do better, we never can get complacent. There are challenges to do with growing a business in Africa not just in Nigeria because we do not operate in a vacuum, we operate within the economy, within the society.

But what we have proven is that as long as the society is carrying out economic activities, there is a positive role for Ecobank to play. And so because of our diversification in different regions, in different levels of economic growth, in different level of economic environment, in some countries interest rates are going down, in some countries the interest rates are going up; in some countries the currency is strengthening, and in some, the currency is being devalued. That diversification that we have achieved through our geographic footprint and through the vertical integration between the multinationals, SMEs, medium scale companies and individuals and households, has really helped us to continue to improve from one year to the other. But there is much more work to do, we would bring banking services to every household, we would like to be the bank of choice to every business in Nigeria and in Africa.

Ecobank has been aggressive in the retail banking space in recent time with the aid of digital solutions. Few months ago, the Central Bank of Nigeria came up with guidelines for payment service banks (PSBs) and some telecom companies have indicated interest in acquiring PSB licence. Don’t you see these PSBs as threat to operation?

In the area of financial inclusion, the development of PSBs for us in Ecobank, we collaborate with fintechs and participants in the economy. It is true that it could be viewed as increased competition, but competition in itself Is not negative. It actually reduces the overall cost of participation because more capital is being put into the sector and the scalability of the sector is still there. We have less than 60 per cent of the population still fully banked. If you actually talk of active financial participation, the percentage will be less than 30 per cent because you have various levels. You have the banked, you have the underbanked and you have the unbanked. If you add the underbanked and the unbanked, we will be closer to 70 per cent. And so, the opportunity is there for more participants. We have demonstrated in various countries like Ghana, Cote d’ivoire, Benin, Togo, Liberia, Kenya, Rwanda, Uganda, Cameroon, that we have the ability to collaborate well with telcos that have participated in this space. In Ghana, we partnered with MTN to even provide treasury bills investment opportunities to individuals straight from the mobile phone.

At the end of the day, participants need a strong bank as the final repository. We look forward to collaborating with participants in this space. I gave the example of Axion; it was a collaborative effort.

We had the ability to work on our own, but we also understand the value of collaboration and we will embrace collaboration in the evolving market space that we are looking forward to in Nigeria. I think it is a bold step by the central bank; it is a commitment to bring financial services to every household and because that aligns with our commitment as Ecobank, we will participate in furthering that agenda.

Clearly, the banking industry is changing globally because of the incursion by ďŹ ntechs.

How do you see industry in the near future?

Well, I think it is well known now that banking is not where you go, but what you do. In the past when you say I want to do any banking service, it is synonymous to travelling to the location to do banking. But now banking has come to your finger tips and we believe that increasingly, banking itself would become more

affordable, more available but the differentiator will increasing be the effectiveness of the customer service that the bank brings to bear in adding value to the financial transaction being carried out by customers. First the definition of who is your customer is being expanded from the person that has an account in your bank to the person that uses your financial service platform.

So, if you look at ATMs, they are interoperable.

So, if you have an account in X Bank and you come to use Ecobank ATM, you are my customer because you are using my service. And if you are happy with the service on an Ecobank ATM, not minding which other bank you got your card from, it reflects positively in your confidence in the Ecobank brand. And therefore, the concept of who is your customer is being expanded significantly. And that is why the steps taking

by Nigerian Interbank Settlement System (NIBSS), the central bank in the establishment of Bank Verification Number is really forward thinking and should be supported by every Nigerian.

This is because what that does is that it creates an identity that enables banks really relate to customers in a non-restrictive manner because you know this is a participant in the economy and you provide the services. Therefore, customer will have more choice. The ease of access is improved, the transparency requirements are at the height because people can compare and therefore it creates growth. You will find the level of instant payments today; when I started my career in banking, if you want to make a payment from Lagos to somebody in Kano, you write a cheque and the person in Kano takes it to the bank in Kano. It takes 21 days to get the value.

But today, it is at the speed of seconds, you do your transactions. So, it is one of the segments that have leveraged development and technology to leapfrog challenges in infrastructure in Nigeria and make services affordable at a more reliable level to every individual. And so it is a highly dynamic industry, it is an exciting industry for young people to bring to bear innovation and that is why for us at Ecobank, we embrace innovation and we want to always be in the vanguard to do things better, such that more people will get better value for their activities.

You talked about mobile money and the lucrativeness of the business in Ghana and Kenya, I want to ďŹ nd out what challenges are crippling mobile money operation in Nigeria?

Like I did say it is important to focus on what is the vision and what we want to achieve. We should be looking at what part of this is critical for us in the journey that we are in Nigeria. The fact is that if you pick the experience in Kenya when it started mobile money. But today, from learning, there are more bank accounts than mobile money accounts in Kenya. And that was achieved through collaboration between the mobile money players and the banks in Kenya. So, the mobile money companies started but very quickly when it comes to deposit of customers’ money every economy understands that protection of small unit savers is a prime responsibility of the central managing authority in Nigeria, which is the central bank. In Nigeria we started out with financial licenced institutions because the scale in Nigeria is such that any item that is not well managed, if it scales out of proportion, it is a big problem. And that is why the regulator tries to develop a stable framework before arriving at the level that we are now. And what we should be looking out for now that we have arrived at this point is how do make it work positively for the economy. But the real issue is now that we have this playing field how do we make it work very well? And our prognosis is collaboration because the field and the opportunity for growth is huge.

The needs of Nigerians are significant and the supply side of it is not as high, and therefore every opportunity to increase the supply of financial services should be encouraged.

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Preparing for Post-oil Economy Nigeria needs to diversify its economy for sustainable economic growth, writes Nume Ekeghe

The need for the federal government to work harder and further diversify Nigerian economy, especially the country’s revenue base was recently brought to the fore at a forum organised by the Nsukka Professionals Association (NPA).

Experts who spoke at the event with the theme: “Positioning for a Post Oil National Economy,� that took place in Lagos, highlighted the dangers in the country’s over-reliance on crude oil for its revenue.

Speaking at the event, the Managing Director Zinnox Technologies, Mr. Leo Stan Ekeh who was represented by MR. George Agwu, in his keynote said: “Many factors can be accrued to changes in oil prices, but one that is currently changing things in a way that we can’t control anymore is technology and innovation. We all know about Teslar, for example, that produce electric cars. “In 2006, the world richest company was Exxon Mobil, followed by Gen Electrics, third was Gastron, fourth was Microsoft, fifth was Citi Group, sixth was Bank of America, seventh was Royal Shell, eight was BB, night was Petrol China and tenth was HSBC. “However, in 2016, the world richest company was Apple and they have maintained that position till date; followed by Google, third was Microsoft, fourth was Bestir Atter wave, fifth was Exxon Mobile, sixth was Amazon, seventh Facebook, eighth Johnson and Johnson, ninth is Gen Electrics, and tenth China Mobile. You can see the shift. “This shift is inevitable and it will continue.

We all can see what Ali Baba is doing. And today, Apple is number one, and we can literally say that Amazon and Google are competing.�

He added: “What I am doing is to prepare our mind to what oil has been, what it is becoming and what will become of it in the future. Some technologies are emerging very fast. “There is a confluence of technologies, and those are big computer works and artificial intelligence, and this is where we are today; including robotics. “There are so many ways we can live our lives. We can sit back and just be complaining, or we can decide to take our destinies in our own hands. What this means is that, when you see certain things going in some certain directions that we don’t feel comfortable about, don’t complain. “The need to diversify and move beyond oil is

not new. It has become part of the growth policy of many oil dependent economies for decades.

Only few countries have made much progress.�

Also speaking, the Provost, Nigerian Air Force Institute of Technology, Prof. Emmanuel Ezeugwu, described ICT as a key driver to diversification post oil and stressed the need to harness opportunities in the sector.

According to him, the ICT sector is playing a key and prominent role in the growth, sustainability and overall prosperity of the United Kingdom.

He also emphasised the need to invest in human capital.

Ezeugwu added: “If we do not start thinking ICT now, before it comes to a time nobody will be buying our oil, including ourselves, there will be a major problem. Hence, environmental exposure, overseas training is very important.

We can then therefore invest in human capital, train them in trending ICT skill, and they can therefore come back to the country to train other people and develop our economy outside oil.�

Agriculture as Alternative In recent times, the government has been clamouring for economic diversification by promoting the agriculture sector. Although some success has been recorded in this regard, experts believe exporting agricultural produce should also be a focus for the government.

This was the thought of the co-founder, Sahel Consulting and Co-founder AACE Foods, Mrs Ndidi Nwuneli.

Commenting on the potential in cashew nuts, Nwuneli said: “Fifty-seven per cent of our household income in Nigeria is spent on food;

The need to diversify and move beyond oil is not new. It has become part of the growth policy of many oil dependent economies for decades.

Only few countries have made much progress

the highest in the world. And in the south-east it is terrible, because we are known importers of food. “And research shows that we in that region spend 60 per cent of our household income on food. When you spend that quantity on food it means that you have very little to spend on other things unless you eat very bad food. “So very practical takeaway for you, is to map-out all the agricultural zones in your region, compile the list of small holders of small farms; what can we do to plant new cashew trees? What can we do to increase exports, trust me, cashew is a low hanging fruit because it generates jobs.�

She added: “A friend of mine set up a cashew factory in the east, overnight, the factory already had over 300 employers - women. There only job is to shell cashew. “So instead of exporting the whole cashew nuts to India or Vietnam, and from there it goes to United States and Europe, why can’t we shell it in Nsukka? I don’t know why we don’t do that. “And it is not just cashew; we also have others like Nsukka yellow pepper. What have we done with it other than to claim its ownership? Did we process it, bottle it or export it? Go to Rwanda, you will see a little pepper bottle that they are selling all over Africa, and it is really the same Nsukka pepper.So there are really many things we can do to add value aside oil.�

Way Forward Speaking on the essence of the summit, the president, NPA, Mr. Charles Nwodo (Jnr) said it was intended to draw attention to the inevitability of disruption of the global oil and gas or hydro carbon market. “We know that apart from prices of crude oil that have fallen across the international market, thereby reducing federally collected revenue, there is also the disruption that is brought about by technology in the sense of advances in electric cars. “Electric cars are no longer a design concept, they are now commercially available. What does it mean for a country like India to say that by 2030, every car that is manufactured in India must be an electric car? “It means that for India that have a population of over a billion people, every car that is manufactured or imported into India, will no longer consume our oil. And then, there are also

the electric airplanes; it has likewise moved from the design concept stage to the commercially viable stage. “So, in a few years’ time, the airplanes as we know them will have electric airplanes. What these all means is that the consumption of our oil, which we all know to be our national asset; since there will no longer be market for them in future, will become useless. “Hence, oil will no longer be a viable asset like we know it today; the idea is to draw the attention of our politicians, our policy makers, and our leaders at the various levels of government to this inevitability in the evolution of the global economic system. We need to plan for it. “Now that we can easily predict that the global market for hydro-carbon resources is going to face a tailspin, it is important that our people begin to plan, diversify our economy, and create alternatives revenue sources to oil as peculiar to the strength of each state.�

On what NPA would advise the government to focus on, he said: “The essential thing is the realisation. To have the realisation that this is something that is coming. “The second is to then sit down with the critical stakeholders within the various units - senatorial zones, local governments, and then, involve all the stakeholders; in government, business men, investors, farmers, rural dwellers, community leaders etc, and together, be able to identify resources or assets that are unique to each of these areas and can be harnessed and used as economically viable assets that can help the community, help the state, or government generate revenues aside oil. “Also, we have to know how to harness the knowledge and youthful energies of the timing population of young active students in our universities, and see how to use this to generate revenue for the community and market the skills that these young people possess to a global market place, in other to empower them economically. “We don’t have to have crude oil or gas to be competitive. We have examples in countries like Japan, Singapore, etc; that have no crude oil but are doing well economically. All they sell is knowledge, skills, talents, or artificial intelligence.

These are things that are commanding values in the international market and will command values till the next decades.�

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EDUCATION Empowering Girls in Makoko Communities Funmi Ogundare writes that despite the harsh environment of Makoko, a slum in Lagos, the Centre for Children’s Health Education, Orientation and Protection, an advocacy group committed to girl-child education is empowering the girls through scholarships, mentorship and training to enable them succeed

M

iss Oluwatosin Ayomikun, 15, is a student of Nawarudeen Senior High School, Fadeyi, raised in Makoko, a slum in the centre of Lagos State. She lost her mother when she was only nine months old and was abandoned by her father. She was raised by her grandmother who feels that after her secondary education, she should either be married off or just learn a trade.

While she was in senior secondary one (SS1), Ayomikun had issues with her former Mathematics teacher, who wanted to have an affair with her; her refusal to yield to his love advances made him score her low in the subject. She had to repeat the class because Maths is a requisite subject for promotion into the next class. However, nothing was done about her plight even after reporting the issue to her class teacher at that period.

Titilope Ajimuda, 19, is another girl who grew up in Makoko. She has been able to brace the odds despite the kind of environment she grew up in.

Apart from her academic excellence, she has, like many other girls, acquired several skills to ensure her independence and thrive in a brash environment. She graduated from a 10-month advanced training in cosmetology (makeup, special effects, fantasy, carnival, facials, pedicure/ manicure specializations) from the Chinwe Angelic Touch Centre at Isolo, Lagos.

Ajimuda has just secured admission into the Ondo State University to study Guidance and Counselling, an inch closer to her ultimate dream of becoming a lawyer to fight for her community held long in the throes of government’s suffocating neglect, marginalisation, aside living constantly under the threat of demolition.

Ayomikun and Ajimuda are some of the girls empowered through scholarships, mentorship, training and ICT programmes by the Centre for Children’s Health Education, Orientation and Protection (CEE-HOPE), an advocacy group committed to girl-child education.

At the beginning of every school year, the centre, founded by Betty Abah makes it a point of duty to visit different communities in Makoko to award scholarship which covers, their textbooks and note books, uniforms, shoes, and class projects to the girls, as well as mentor them to greatness.

Abah told THISDAY that in the past one year, the centre has empowered about 1,000 children, among whom are 500 girls educationally who have been coming for its programmes in Makoko communities.

Speaking on the selection criteria, she said they are selected based on the types of empowerment such as general empowerment, educational empowerment, mentorship programme, as well as those who are meant to be on full scholarship, mostly targeted at adolescent and teenage girls.

Asked why the focus is on the girls, she said: “In an impoverished community like Makoko, there is high level of illiteracy and with illiteracy comes ignorance. Also there is a lot of adherence to traditional beliefs, which most times are very retrogressive, conservative and patriarchal.

The founder of CEE-HOPE, Betty Abah (middle) with some of the girls she has empowered in Makoko community

“A lot of attention if at all is on the boys, girls don’t really matter much. For many average parents in a community like this, the highest the girls can attain is to be married off.

In terms of empowerment, their ideas are only tailored towards the girls learning tailoring and hair dressing, so not much thought is given to education and of course in a society where there is discrimination in educational empowerment on gender that kind of community cannot really do well.

It is more like a community limping on one leg. “We cannot really boast of a progressive society when the women are not empowered. When you have women that are empowered, you can be sure that the society is progressive

We cannot really boast of a progressive society when the women are not empowered. When you have women that are empowered, you can be sure that the society is progressive because they are altruistic.

So we felt we should consciously play a role in their empowerment

because they are altruistic. So we felt we should consciously play a role in their empowerment. Fortunately for us, we have had some level of support from institutions and individuals for our educational programmes.�

Some of its beneficiaries over the years, the founder said, included teenage mothers, adding that some of the girls came from the water side. “Recently, we started an after-school class on the water for the girls. The quality of the teaching is amazing; they teach them in the local Egun Language. Majority of them cannot speak English, they can only speak Egun and French so we reach out to them. “The after-school classes that we have offer English Language and Mathematics aside what their schools provide for them, they are able to get better. Nigeria lingua franca is 100 per cent English, a language of instruction and communication.

Teaching them English, is part of integrating them with the rest of the world. A community like Makiko is cut off from civilization, it is quite popular because of the demolition which drew attention to the rest of the world and because of its unique style of living,� she said.

She described Makoko as the largest slum community in West Africa with over 200,000 inhabitants, adding that thousands of children living there need help. Other states the centre work in apart from Lagos, Abah said include Benue and Plateau States. “One of our communities in Lagos is Monkey Village, a suburb in Ikeja, but quite unique and very much impoverished, we work with children there, we try to stretch our resources to help the girls in communities like this, there is so much ignorance and illiteracy.�

Miss Ayomikun, who has been on the scholarship for five years, was full of praises for the founder. She told THISDAY that her effort has

impacted her positively. “She has done lot in my life.

Before now, I had no dreams, I lost my mum when I was nine months old and my dad is nowhere to be found. My grandmother has been taken care of me. I had always felt that after my SS3 examinations, I will not further my education, but ever since I have been on her scholarship, I have seen that without education, you are nothing, and a man cannot marry a woman without skills because he will believe that the woman should have something tangible to do.�

She stressed the importance of educating the woman, saying that without it, she cannot stand out.

Ayomikun who aspires to learn a skill in hair styling, said she also intends to study Mass Communication and become a news caster She advised the founder to “continue her impact on the girls, she has been supporting them with their school fees and mentoring them. Most of my mates who don’t have this kind of opportunity have fallen pregnant just because their parents are not giving them what they want, while the boys have taken to crime. She made me to understand that you need to secure a future for yourself and look beyond your environment. She has taken us to different outings and impacted me in a lot of ways.�

Miss Oluwatumininu Omosawe, a junior secondary two (JS2) student of Onike Junior Secondary School, Yaba, whose scholarship covers her textbooks and note books, uniform and school bag, expressed delight about the initiative, while advising the founder of the centre to keep up the good work.

Another beneficiary of the initiative, Miss Christiana Ijisan, an SS two student of Hebert Macaulay Senior High School, Yaba, who has been on the scholarship for two years, also commended the founder.

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EDUCATION

SHE Initiative: Addressing Gender Inequality in Science/Tech Uchechukwu Nnaike Worried by the gender inequality in the field of science and technology, the Christopher Kolade Foundation, through the Stemma Hands-on Empowerment (SHE) Initiative is currently offering girls in Lagos secondary schools the opportunity to experience science and technology in relatable, interactive and fun ways.

The girls from 10 public secondary schools in the state are immersed in a variety of handson learning activities designed to broaden their knowledge of the fields of science and technology.

The SHE initiative also seeks to engage them in enquiry; stir their intellectual curiosity, build their confidence, apprise them of female role models in the field, and equip them with demonstrable skills in targeted areas of science and technology.

The SHE learning agenda also include ethics, leadership and remedial education, which is delivered through residential science camps, in-school clubs, holiday camps and single-gender science fairs.

The foundation recently organised the second edition of the SHE Science and Technology Fair, where the students displayed their inventions intended

to solve some societal challenges.

The fair also provided an opportunity for the girls to listen to successful women in science and technology, gain from their wealth of experience and how they developed and sustained their interest and pursued a career in science and technology.

Speaking at the event, the founder, Dr. Christopher Kolade said it is wrong to address youths as leaders of tomorrow, but that they are leader today waiting for tomorrow’s opportunities. “If you are leaders today, it means you are entitled to take some decisions today, and the benefits of the decisions you take today will come tomorrow.

So in order to take competent decisions today, you must have a vision of what tomorrow will look like.�

He said that is why the foundation has focussed the students’ attention on those things that seem to be the criteria for making tomorrow beautiful - science, technology, mathematics, adding, “we must start doing things today in the areas of science and technology to qualify us to be leaders of tomorrow.�

He urged the students to seek to make an impact in the society,

to do something to change the current situation in the country positively, as well as to imbibe the values of honesty, integrity, punctuality, among others.

The Managing Consultant of the foundation, Omobola Lana said the programme has had a positive impact on the girls as they now believe in themselves and what they can do and what the can aspire to, and the things they can achieve have grown exponentially. “The programme is technology based but there is a com-

pulsory leadership and ethics component. The combination of these and the girls achieving things with their own hands make them feel there is nothing they cannot achieve.�

In her remarks, the Deputy Governor of Lagos, Mrs. Oluranti Adebule commended the foundation for sustaining the initiative to encourage more girls to showcase their technological skills thereby helping to build their confidence that they too can achieve their dreams in the fields of science and technology.

She called for an enlightenment seminar for parents and guardians to change the mind-set that STEM is not girls, but for boys alone. She also appealed to all stakeholders to encourage more girls to take interest in STEM and demystify the falsehood of science and technology being the exclusive preserve of boys.

In a keynote address, the Managing Director of Siemens Nigeria, Mrs. Onyeche Tifase, stressed the importance of self-development and always

believing in oneself and being curious, always asking questions because sometimes people are waiting for someone to ask for clarifications.

She said sometimes men seem to achieve more because they accept challenges, even the ones that seem difficult at the time, but women hardly take up such challenges. So to succeed in the science and technology sector, women should learn to always say yes when given new tasks and work hard to complete them.

I Will Never Trade Peace for Fraud, Says UNIOSUN VC Yinka Kolawole in Osogbo The Vice-Chancellor, Osun State University (UNIOSUN), Professor Labode Popoola, has disclosed that his refusal to cease anti-graft war has been the major cause of the persistent crises in the university.

He vowed never to trade peace for fraud no matter the petition, allegation or protest against his leadership.

Briefing journalists at the Osogbo Campus of the university, Popoola said the same people that are making life difficult for the university are those that stoned former Vice-Chancellor, Professor Okesina.

He said he would rather resign and go instead of colliding with fraud, adding that he will not do anything that will spoil his reputation in the name of peace. “I will not trade peace for fraud. I will rather resign and go. I am not going to collide with fraud. They were spending about N11 million to conduct exam before I resumed. We are spending less than N3 million now.�

Popoola described the recent statement by the National Public Relations Officer (PRO) of the Senior Staff Association of Nigerian Universities (SSANU) on UNIOSUN as “bias and inappropriateness of defence towards members of SSANU, who are subsidiary members of the Joint Action Committee (JAC).�

Speaking on the agitation of SSANU, he said “a former Secretary of NASU, Mr. Olugbeja was illegally awarded a TETFund grant for a conference in the US, but unfortunately he absconded from the release.

His monthly salaries were not stopped until due process was

followed. “NASU Chairman, Mr. Isaiah Fayemi got himself entangled in a financial mess involving missing booklets of receipts of the university. All these occurred before my assumption of duties in November 2016. Management approved the report of the investigate panel that Fayemi and others involved in the receipt booklet scam should face the Staff Disciplinary Committee (SDC). Since that decision was taken, the university has not known peace.�

The vice-chancellor explained that Olugbeja was stepped down by the audit department and the stoppage of his payment necessitated an agitation from NASU that culminated into physical assault on the former acting head of internal audit

by NASU. He explained that the order of the governing council of the university that all nonacademic staff members below level 13 should sign a register on daily resumption was also disobeyed on the order of JAC leadership.

According to him, the disobedience had led to disruption of activities in the university, making the institution to lose N120 million TETFund special grant and other losses.

Popoola added that JAC also refused to write an apology letter as directed by the governing council, instead it went ahead to disrupt the 2018 convocation by shutting down the university gates, thus preventing the Vice-President, Yemi Osinbajo, former Governor Rauf Aregbesola and other eminent personalities from entering.

He noted that the crisis is not likely to end because he would not bend rules.

L-R: The Chairman, University of Lagos (UNILAG) Multi Media Ventures Board, Professor Muyiwa Falaiye; the Pro-Chancellor and Chairman, Governing Council, Dr. Wale Babalakin, the Vice-Chancellor, Professor Oluwatoyin Ogundipe; and Deputy Vice-Chancellor, Development Services, Professor Folasade Ogunsola, at the inauguration of UNILAG TV in Lagos‌ recently

Varsity Don Stresses Importance of Maths to Successful Election

Greensprings Students Win $60,000 Conrad Scholarship

Funmi Ogundare

Some students of Greensprings School, Ibeju-Lekki, Campus have been awarded a scholarship worth $60,000 (approximately N21 million), for four years per finalist at Clarkson University, New York, United States.

The scholarship was awarded by the Conrad Foundation through the Conrad Challenge, a competition that was formed in 2008 in honour of the legacy of Charles “Pete�

Conrad Jr. As an annual competition, the Conrad Challenge brings together a dynamic community of innovators and entrepreneurs driving a collaborative movement to develop extraordinary and viable solutions that benefit the world in the areas of aerospace and aviation, cyber-technology and security, energy and environment, health and nutrition, and smoke-free world.

The aim of the Conrad Foundation partnership with schools is to help develop talents and drive entrepreneurship in Africa.

Several top-league secondary schools partake in the annual competition.

Greensprings School, Lekki presented three teams for the Conrad Challenge and two

The President, Nigerian Women in Mathematics (NWM), Professor Olabisi Ugbebor has stressed the need for the country to have an electorate with sound mathematical education, who will recognise patterns easily and will be able to cut actual voting time.

Ugbebor, who made this known recently at the fourth annual Mathematics Conference (AMCE) with the theme ‘The Mathematics of Elections: Choices, Voting and Outcomes’, organised by the Mathematics for Life Foundation in Lagos.

According to her, “what legacy are we handing over to the next generation�?, saying that education should be well funded to make Mathematics education to be functional and encouraged so that e-voting will become popular option to curb rigging of election and allow honest leaders to emerge.

Ugbebor, who is the first woman Professor of Mathematics, University of Ibadan, added that right from primary school, computer literacy should be made compulsory with thorough grounding in Mathematics essential for innovation that would be applied to the particular needs of the nation. “If all the indices that affect our choices are put in place (good

roads, quality education and raised standard of living), there will be no rigging in the elections because people will know what to measure, there will be no partisan politics leading to development and all Nigerians will feel wanted.�

Without science and technology, based on a thorough knowledge of Mathematics, she said rapid industrialisation, which would lead to youth empowerment for self-employment will continue to be a mirage, constantly eluding the country and reappearing further ahead. “We must let the old way of scoring low marks in Mathematics go, not by inflating marks, but by firing the imagination of our pupils and preparing students with such passion of not looking for ways to cheat,� she said, adding that parents need to start nurture and train on that.

The President of Toncia Energy Consulting and Professional Limited, Professor Godwin Chukwu spoke on the sub-theme, ‘Predicting Accuracy of Election Outcomes: Impact on Census Data and Other Factors’. He stressed the importance of mathematics in elections, saying that it would help in predicting accuracy of the outcomes for the candidates, the state of the economy, social issues, as well as foreign policy and terrorism.

teams qualified for the final stage. At the grand finale of the challenge held recently at the Lekki Peninsula Hotel, a team from Greensprings School (the Five Ions) emerged the first runner-up out of 13 teams from schools all over Nigeria.

All the students in the team (the Five Ions) received scholarships worth over $60,000 for four years at Clarkson University, New York.

Reacting to the students’ feat, the Principal, Greensprings Secondary School, Mrs. Feyisara Ojugo said: “Our students’ participation in the Conrad Challenge has helped to strengthen their minds and also, the experience has assisted to further motivate and inspire the spirit of innovation in our students. “Being able to see prototyping machines firsthand in operation and meeting innovation experts was a rare experience beyond the theories in classroom.�

Winning the scholarship is an exciting news for Greensprings School as it continues to redefine education in Africa by consistently molding students to become global citizens and leaders in various fields.

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Foundation Organises Debate to Address Fuel Subsidy Issues Oluchi Chibuzor and Ezekiel Okpuzor The Peter Bauer Foundation has organised a debate for university students on fuel subsidy, showing how the country can diversify the funds into social intervention projects and infrastructure towards alleviating poverty and stimulating economic opportunities for Nigerians.

Speaking at the event in Lagos with the theme ‘Reinvesting Nigeria’s Fuel Subsidy: Pro-poor Growth versus Social Protection Programmes’, the Secretary of the foundation, Abimbola Agboluaje

said the discourse was aimed at promoting policy that would trigger national development.

He said the debate provided the contestants the opportunity to get internship with some organisations and job placements, especially for those who displayed brilliance at the issues, adding that the Lagos Chamber of Commerce and Investment (LCCI) has offered employment to the overall best student. “The debate provided the students a platform to proffer solutions to the topic on how the government can utilise the funds meant for fuel subsidy for the development of the nation,

as the issue is over flooded.

Several areas of the economy are suffering because of lack of massive investment needed to stimulate the growth required.�

The University of Lagos emerged winner of the debate, which focused on the need to remove the fuel subsidy or keep it; while Lasisi Ibrahim emerged the overall best student and got employed by LCCI; while other contestants got books and internship opportunities.

In his remarks, the Director, Research and Advocacy, LCCI, Dr. Vincent Nwani said as a result of the irregularities surrounding the subsidy, the

country has discouraged a lot of investors from coming to do business in the petroleum sector.

He added that with the quality displayed by the students, the country’s future is bright despite the current challenges. “A lot of money has been spent on fuel subsidy over N1 trillion, over 50 per cent to money allotted to capital project. It discourages investors in oil and gas industry, about $100 billion that should have come into the country in the last five years as Foreign Direct Investment (FDI) are discourage because the Petroleum Industry Bill (PIB) is not available.�

The students of Greensprings School, Ibeju-Lekki, Campus (the Five Ions), who emerged the second runner-up in the Conrad Challenge and got a scholarship of $60,000 recently

Firm Trains Pupils on Business Skills Funmi Ogundare Techie and Savvy, an organisation that raises future leaders recently held a business leadership conference in Lagos with the theme, ‘The Future is Now’, for primary school pupils.

The programme featured talks on topics like ‘Start Small and Grow Big’, ‘Time Management’ and ‘Discovering who you are’.

Speaking at the conference, the Programme Manager Enterprise, Leap Africa, Mr. Temitope Richard-Banjo described time management as everything and an important resource one can have.

For the pupils, he said this is the best time for them to understand the importance of time and doing the right things

at the right time which is key. “There may be distractions and things that are time wasters to them as they go ahead, but they should be able to identify those things and cut down on them; and take their time seriously.�

He faulted the African time mentality in Nigeria, saying that it is disrespectful when an event is to start and people are not there. “You need to plan yourself and consider other factors such as traffic. Punctuality is one of my core values. If we don’t do things at the right time, we will keep having backlogs of problems.�

Richard-Banjo stressed the need for schools to introduce time management into their curricular, adding that the soft skill is one of the things that

make the children become great in life.

The General Manager, Zaron Cosmetics, Mary Jane Ohabu, who spoke on ‘Start Small and Grow Big’, described the initiative as amazing, saying, “the kids have really been groomed to an advanced level. It is amazing that they are thinking this way at this level and participating in activities like this.�

She suggested that major topics discussed at the seminar should be incorporated into schools’ curriculum because of the need to catch them young. “Our country is at a point where it needs all the help it can get. With the knowledge and strength the children are growing with, we should look forward to the future.�

She advised the pupils to stay focused, continue to better themselves, listen and learn which will put them on the right track.

An entrepreneur, Mr. Onye Ubanatu, whose topic focused on ‘Discovering who you are’, said he believes that one’s primary assignment in life is tied to one’s purpose in life and that sharing with the pupils is a plus. “We have a lot of adults who went through a process in life without discovering their purpose at an early stage. Sharing with the pupils now is an opportunity because this is the stage they get to mould an idea and having them know that they should know the things that bring value to them and their families; and build on these things.�

Schools Mobilise Candidates as 2019 Cowbellpedia Entry Deadline Approaches With less than a week to the close of entries for the 2019 Cowbellpedia Secondary Schools Mathematics Television Quiz Show, public and private schools across the country have been mobilising their best junior secondary three and senior secondary two students to register for the competition.

Entry for the competition will close on February 3, 2019.

Registration is strictly online through the website, www. cowbellpedia.ng and it is free.

According to the Marketing Manager of Promasidor Nigeria Limited, Abiodun Ayodeji, each

school is entitled to five candidates who must be between 10 and 18 years old for each category.

He emphasised that as part of the brand’s deliberate effort in encouraging girl-child interest in STEM courses, the company is encouraging mixed secondary schools to nominate a minimum of two female students for each category Ayodeji explained that the registration process requires the candidate or school to visit www.cowbellpedia.ng and click on the link ‘register your school’, fill the form and submit.

He said having filled all the required fields in the form, an email would be sent to the school and the primary contact email address earlier provided by the candidate or school. “The link in the email received would be used to verify the email address. On successful login, click on ‘add candidates’ under ‘candidate management’, fill in the candidate’s information, upload the candidate’s picture and click the ‘save draft’ button.

Save the draft information for five candidates for each category before you submit their registra-

tion.�

He said when all the data have been completed for all the candidates, the ‘register’ button should be clicked to complete the registration process. “A confirmation slip will be generated to download and will also be mailed to the school, candidate or parent/ guardian’s email address. Print the confirmation slip and have it stamped and signed by the school principal. The confirmation slip will be required for admitting candidates at the examination venue,� Ayodeji explained.

KEHINDE OMORU www.kayomoru.com

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Ă? ĂŁĂ™Ă&#x; Ă‹ĂœĂ? Ă‹ ĂšĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Ă?ÒÙÙÖ ĂžĂ?Ă‹Ă?Ă’Ă?ĂœËœ Ă™Ăœ Ă?Ă Ă?Ăœ ĂŒĂ?Ă?Ă˜ Ă™Ă˜Ă?Ëœ ĂŁĂ™Ă&#x;ËŞĂŽ Ă‹ĂšĂšĂœĂ?Ă?Ă“Ă‹ĂžĂ? ÒÙå Ă?Ă’Ă‹Ă–Ă–Ă?Ă˜Ă‘Ă“Ă˜Ă‘ Ă“Ăž Ă?Ă‹Ă˜ ĂŒĂ? ÞÙ Ă?Ă™Ă˜ĂžĂ‹Ă“Ă˜ ÞÒĂ? Ă‹Ă?ĂžĂ?ĂœĚ‹Ă?Ă?ÒÙÙÖ Ă?ĂšĂ“ĂœĂ“Ăž Ă™Ă? Ă?Ă‹ĂœĂ?Ă?ĂœĂ?Ă?Ëœ Ă?Ă‹ĂœĂ?Ě‹Ă–Ă?Ă?Ă? Ă?ĂœĂ?Ă?ÎÙ× Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă“Ă˜Ă˜Ă™Ă?Ă?Ă˜ĂžĂ–ĂŁ Ă?âÚĂ?ĂœĂ“Ě‹ Ă?Ă˜Ă?Ă? Ęś ĂŽĂ“Ă?ÚÖËã˛ Ă’Ă“Ă? Ă“Ă? ĂĄĂ’ĂŁ ĂĄĂ“Ă?Ă? ĂŽĂ&#x;Þã̋ÞĂ?Ă‹Ă?Ă’Ă?ĂœĂ? ĂĄĂ‹Ă–Ă• Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă“Ă˜ĂžĂ™ ÞÒĂ? Ă’Ă‹Ă–Ă– Ă™Ăœ ĂœĂ?ĂžĂ‹Ă“Ă˜ ÞÒĂ?Ă— Ă“Ă˜ Ă?Ă–Ă‹Ă?Ă? Ă‹Ă˜ĂŽ Ă—Ă‹Ă“Ă˜ĂžĂ‹Ă“Ă˜ Ă?Ă&#x;ĂšĂ?ĂœĂ Ă“Ă?Ă?ĂŽ ÚÓĂ?Ă•Ě‹Ă&#x;ĂšĂ? Ă‹Ăž ÞÒĂ? Ă?Ă˜ĂŽ Ă™Ă? Ă?Ă?ÒÙÙÖ Ă’Ă™Ă&#x;ĂœĂ?Ë› Ă‹Ă˜ĂŁ ĂŁĂ™Ă&#x;Ă˜Ă‘ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ ĂĄĂ™Ă&#x;Ă–ĂŽ ĂœĂ‹ĂžĂ’Ă?Ăœ Ă”Ă&#x;Ă?Ăž ĂŽĂ&#x;Ă—Ăš ÞÒĂ?Ă“Ăœ ĂŒĂ‹Ă‘Ă? Ă‹Ă˜ĂŽ Ă—Ă‹Ă•Ă? Ă?Ă™Ăœ ÞÒĂ? Ă?Ă“Ă?Ă–ĂŽ Ă?Ă™Ăœ Ă?Ă‹ĂžĂ?Ă’Ě‹Ă&#x;Ăš ÚÖËã Ă™Ă˜Ă?Ă? ÞÒĂ? ĂŒĂ?Ă–Ă– Ă‘Ă™Ă?Ă?Ë ÍłÍľĚ‹ĂŁĂ?Ă‹ĂœĚ‹Ă™Ă–ĂŽ Ă?ĂŒĂŒĂ“Ă? Ă“Ă? Ă—Ă&#x;Ă?Ă’ Ă—Ă™ĂœĂ? ĂžĂ’Ă‹Ă˜ ÞÒĂ? Ă?ĂžĂ?ĂœĚ‹ Ă?ÒÙÙÖ Ă–Ă&#x;ĂŒ ĂŒĂ&#x;Ă? ĂŽĂœĂ“Ă Ă?Ăœ Ă?Ă’Ă? Ă“Ă?Ë› Ă?ĂŒĂŒĂ“Ă? Ă“Ă? Ă‹ ĂœĂ™Ă&#x;ĂžĂ?ĂœËœ Ă‹ Ă˜Ă‹Ă Ă“Ă‘Ă‹ĂžĂ™Ăœ Ă‹Ă˜ĂŽ Ă‹ Ă?Ă“Ă?Ă’Ă“Ă˜Ă‘ ĂŒĂ‹Ă“ĂžËœ Ă‹Ă–Ă– ĂœĂ™Ă–Ă–Ă?ĂŽ Ă“Ă˜ĂžĂ™ Ă™Ă˜Ă?Ëœ Ă‹Ă? Ă?Ă’Ă? Ă?Ă‹ĂœĂœĂ“Ă?Ă? Ă™Ă&#x;Ăž ÞÒÓĂ? Ă Ă?ĂœĂŁ ĂŽĂ?Ă–Ă“Ă?Ă‹ĂžĂ? Ă”Ă™ĂŒË› Ă‹ĂžĂ?Ă’Ă“Ă˜Ă‘ Ă’Ă?Ăœ Ă‹Ăž ĂĄĂ™ĂœĂ• Ă“Ă? Ă?Ă&#x;Ă?Ă’ Ă‹ ĂŽĂ?Ă–Ă“Ă‘Ă’ĂžË Ă?ĂŒĂŒĂ“Ă? Ă&#x;Ă?Ă?Ă? ×Ùà Ă?Ă—Ă?Ă˜ĂžËœ Ă Ă“ĂŒĂœĂ‹Ă˜Ă?ĂŁËœ Ă?ÙÖÙĂ&#x;Ăœ Ă‹Ă˜ĂŽ Ă›Ă&#x;Ă“Ă?Ăž Ă?Ă™Ă˜Ă?Ă“ĂŽĂ?Ă˜Ă?Ă? ÞÙ ËŠĂŒĂ‹Ă“ĂžËŞ ÞÒĂ? Ă?Ă?ÒÙÙÖ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă?Ă’Ă? ÚÓĂ?Ă•Ă? Ă&#x;ĂšËœ Ă™Ă˜ ÞÓ×Ă?Ëœ Ă“Ă˜ĂžĂ™ Ă’Ă?Ăœ ĂŒĂ&#x;Ă?Ë› ĂŁ ÙÎ̋Ă?Ă™Ă˜ Ă™Ă˜Ă?Ă? ÞÙÖÎ Ă—Ă? ĂžĂ’Ă‹ĂžËœ ËŤ Ă?ĂŒĂŒĂ“Ă? Ă˜Ă?Ă Ă?Ăœ Ă?Ă’Ă™Ă&#x;ĂžĂ?Ëœ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă”Ă&#x;Ă?Ăž Ă™ĂŒĂ?ĂŁ Ă’Ă?ĂœËŹË› Ă™ ĂŒĂ?Ă‘Ă‹Ă˜ ÞÙ ĂœĂ?Ă?Ă–Ă?Ă?Ăž Ă™Ă˜ ĂĄĂ’Ă‹Ăž Ă“Ăž Ă“Ă? Ă‹ĂŒĂ™Ă&#x;Ăž Ă?ĂŒĂŒĂ“Ă? ÞÒËÞ Ă—Ă‹Ă•Ă?Ă? ĂŽĂ‹ĂœĂžĂ“Ă˜Ă‘Ëœ Ă?Ă›Ă&#x;Ă?Ă‹Ă–Ă“Ă˜Ă‘Ëœ ĂšĂœĂ‹Ă˜Ă•Ă“Ă˜Ă‘Ëœ Ă“Ă—ĂšĂ&#x;Ă–Ă?Ă“Ă Ă? Ă‹Ă˜ĂŽ Ă?Ă˜Ă?ĂœĂ‘ĂŁĚ‹ĂšĂ™ĂšĂšĂ“Ă˜Ă‘ Ă?Ă?ÒÙÙÖ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă”Ă&#x;Ă?Ăž Ă™ĂŒĂ?ĂŁ Ă?ĂŒĂŒĂ“Ă?Ë› ĂŽĂ“ĂŽĂ˜ËŞĂž Ă’Ă‹Ă Ă? ÞÙ ĂžĂ’Ă“Ă˜Ă• ÞÙÙ ĂŽĂ?Ă?Ăš Ă‹Ă? Ă—ĂŁ ÙÎ̋Ă?Ă™Ă˜ Ă?Ă&#x;ÚÚÖÓĂ?ĂŽ Ë› ËŤ Ă&#x;Ă˜ĂžĂŁËŹ Ă’Ă? Ă?Ă‹Ă“ĂŽ ËŤĂ‹Ă–Ă– ÞÒĂ? Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ ÞËÖÕ ÞÙ Ă’Ă?ĂœËŹË› Ă’Ă“Ă? Ă‹Ă˜Ă?ĂĄĂ?Ăœ Ă?Ă™ Ă“Ă˜Ă˜Ă™Ă?Ă?Ă˜ĂžĂ–ĂŁ Ă?ÞËÞĂ?ĂŽ Ă?Ă?Ă˜Ăž Ă—Ă? Ă?ĂšĂ“ĂœĂ‹Ă–Ă–ĂŁ Ă?Ă™Ă&#x;Ă–Ě‹Ă?Ă?Ă‹ĂœĂ?Ă’Ă“Ă˜Ă‘Ë› Ă˜ĂŽ Ă?Ă™ Ă‹Ă?Ă• ĂŁĂ™Ă&#x; ĂžĂ™ĂŽĂ‹ĂŁËœ ËŤĂ‹ĂœĂ? ĂŁĂ™Ă&#x; Ă‹ĂšĂšĂœĂ™Ă‹Ă?Ă’Ă‹ĂŒĂ–Ă? Ă?Ă˜Ă™Ă&#x;Ă‘Ă’ Ă?Ă™Ăœ Ă‹ Ă?Ă’Ă“Ă–ĂŽËœ ĂžĂ?Ă?Ă˜Ă‹Ă‘Ă?Ăœ Ă™Ăœ ĂŁĂ™Ă&#x;Ă˜Ă‘ Ă‹ĂŽĂ&#x;Ă–Ăž ÞÙ ÞËÖÕ ÞÙ ĂŁĂ™Ă&#x;ËŁËŹ Ă–ĂœĂ?Ă‹ĂŽĂŁ Ă“Ă˜ ÞÒĂ? Í°Ă˜ĂŽ ĂžĂœĂ“Ă—Ă?Ă?ĂžĂ?Ăœ Ă™Ă? Ă’Ă?Ăœ ĂšĂœĂ?Ă‘Ă˜Ă‹Ă˜Ă?ĂŁËœ Ă?Ă?Ă‹ĂœĂ?ĂŽËœ Ă?Ă™Ă˜Ă?Ă&#x;Ă?Ă?ĂŽ Ęś ĂžĂœĂ™Ă&#x;ĂŒĂ–Ă?ĂŽËœ ͯ͹̋ãĂ?Ă‹ĂœĚ‹Ă™Ă–ĂŽ Ă‹ĂŁĂ–Ă?Ă“Ă‘Ă’ Ă˜Ă‹Ă“ĂžĂ’ Ě™ Ă’Ă? Ă“ĂœĂœĂ™Ăœ Ă™Ă˜Ă–Ă“Ă˜Ă? Ͱ͎˚;˚ͯ̚͜ ĂĄĂ?Ă˜Ăž ÞÙ Ă’Ă?Ăœ Ă’Ă?Ă‹ĂŽ ĂžĂ?Ă‹Ă?Ă’Ă?Ăœ Ă‹Ă? Ă?Ă’Ă? Ă?Ă™Ă&#x;Ă–ĂŽĂ˜ËŞĂž ĂŒĂœĂ“Ă˜Ă‘ Ă’Ă?ĂœĂ?Ă?Ă–Ă? ÞÙ ĂžĂ?Ă–Ă– Ă’Ă?Ăœ ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? ÞÒËÞ Ă?Ă’Ă? ĂĄĂ‹Ă? ĂšĂœĂ?Ă‘Ă˜Ă‹Ă˜ĂžË› Ă’Ă“Ă? Ă?Ă?Ă?Ă—Ă“Ă˜Ă‘Ă–ĂŁ ĂĄĂ“Ă?Ă?Ëœ Ă?Ă‹Ă–Ă—Ëœ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă?ĂŽ Ă‹Ă˜ĂŽ Ă‹ĂšĂšĂœĂ™Ă‹Ă?Ă’Ă‹ĂŒĂ–Ă? ĂšĂœĂ“Ă˜Ă?ÓÚËÖ ÞÒĂ?Ă˜ Ă?Ă‹Ă–Ă–Ă?ĂŽ Ă“Ă˜ Ă—Ă&#x;Ă— ÞÙ ĂŒĂœĂ?Ă‹Ă• ÞÒĂ? Ă˜Ă?ĂĄĂ?Ë›

Ă˜ Ă—ĂŁ Ă—Ă“Ă˜ĂŽËŞĂ? Ă?ĂŁĂ?Ëœ Ă?Ă‹Ă˜ Ă?Ă?Ă? ÞÒÓĂ? ĂšĂœĂ“Ă˜Ă?ÓÚËÖ ÞÒÙĂ&#x;Ă‘Ă’ĂžĂ?Ă&#x;Ă–Ă–ĂŁ Ă?ĂœĂ?Ă‹ĂžĂ“Ă˜Ă‘ Ă‹ Ă?Ă™Ă˜ĂŽĂ&#x;Ă?Ă“Ă Ă? ËÞ×ÙĂ?ÚÒĂ?ĂœĂ? Ă?Ă™Ăœ ÞÒÓĂ? ĂŽĂ“Ă?Ă?Ă“Ă?Ă&#x;Ă–Ăž ĂŽĂ“Ă?Ă?Ă&#x;Ă?Ă?Ă“Ă™Ă˜ ĂŒĂ?ÞåĂ?Ă?Ă˜ ×ÙÞÒĂ?Ăœ Ă‹Ă˜ĂŽ Ă’Ă?Ăœ ͯ͹̋ãĂ?Ă‹ĂœĚ‹Ă™Ă–ĂŽ ĂšĂœĂ?Ă‘Ă˜Ă‹Ă˜Ăž ĂŽĂ‹Ă&#x;Ă‘Ă’ĂžĂ?Ăœ ÞÙ ÒËÚÚĂ?Ă˜Ë›

Ă?Ă‹Ă˜ Ă?Ă?Ă? Ă’Ă?Ăœ Ă?×ÚÙåĂ?ĂœĂ“Ă˜Ă‘ Ă‹ĂŁĂ–Ă?Ă“Ă‘Ă’ åÓÞÒ ÞÒĂ? Ă˜Ă?Ă?ĂŽĂ?ĂŽ Ă?Ă™ĂœĂžĂ“ĂžĂ&#x;ĂŽĂ? ÞÙ Ă?Ă‹Ă?Ă? Ă’Ă?Ăœ Ă™ĂĄĂ˜ Ă—Ă&#x;Ă— åÓÞÒ ÞÒÓĂ? ĂŽĂ?Ă–Ă“Ă?Ă‹ĂžĂ? Ă‹Ă˜ĂŽ Ă?Ă?Ă˜Ă?ÓÞÓà Ă? Ă˜Ă?ĂĄĂ?Ë›

Ă?Ă‹Ă˜ Ă?Ă?Ă? Ă‹ Ă˜Ă™Ă˜Ě‹Ă”Ă&#x;ĂŽĂ‘Ă—Ă?Ă˜ĂžĂ‹Ă– ĂŒĂ&#x;Ăž Ă?Ă?Ă˜Ă?ÓÞÓà Ă? Ă‹Ă˜ĂŽ Ă?×ÚËÞÒĂ?ÞÓĂ? Ă’Ă?Ă‹ĂŽ Ă&#x;Ă?Ă’Ă?Ăœ Ă—Ă&#x;Ă— Ă•Ă“Ă˜ĂŽĂ–ĂŁ Ă“Ă˜ĂžĂ™ ÞÒĂ? Ă™Ă?Ă?Ă“Ă?Ă? Ă‹Ă˜ĂŽ Ă“Ă˜Ă Ă“ĂžĂ? Ă‹ĂŁĂ–Ă?Ă“Ă‘Ă’ ÞÙ Ă?ĂšĂ?Ă‹Ă•Ë› Ă’Ă“Ă? ĂšĂœĂ“Ă˜Ă?ÓÚËÖ˪Ă? Ă‹Ă—ĂŒĂ“Ă?Ă˜Ă?Ă?Ëœ ĂžĂ™Ă˜Ă? Ă™Ă? à ÙÓĂ?Ă? Ęś Ă?ÒÙÓĂ?Ă? Ă™Ă? ÞÒĂ? ÚÙĂ?Ă?Ă“ĂŒĂ–ĂŁ Ă?Ă?ĂĄ Ă“Ă˜ĂžĂœĂ™Ě‹ĂĄĂ™ĂœĂŽĂ? Ă&#x;Ă?Ă?ĂŽ ĂœĂ?Ă Ă?Ă‹Ă–Ă?ĂŽ Ă‹ ĂœĂ?Ă‹Ă–Ă“Ă¤Ă‹ĂžĂ“Ă™Ă˜ ÞÒËÞ ÞÒĂ?Ă“Ăœ ĂšĂœĂ™Ă?Ă?Ă?Ě‹ Ă?Ă“Ă™Ă˜Ă‹Ă– ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ăœ Ă?ĂœĂ™Ă— ÞÒĂ?Ă˜ Ă™Ă˜ ĂĄĂ™Ă&#x;Ă–ĂŽ Ă’Ă‹Ă Ă? Ă“Ă—Ă—Ă?Ă˜Ă?Ă? Ó×ÚËĂ?Ăž Ă™Ă˜ ÒÙå ÞÒÓĂ? Ă˜Ă?ĂĄĂ? ĂĄĂ‹Ă? ĂœĂ?Ă?Ă?Ă“Ă Ă?ĂŽ ĂŒĂŁ Ă‹ĂŁĂ–Ă?Ă“Ă‘Ă’ËŞĂ? ĂšĂ‹ĂœĂ?Ă˜ĂžĂ?Ë› ÙÞ Ă?Ă&#x;ĂœĂšĂœĂ“Ă?Ă“Ă˜Ă‘Ă–ĂŁ Ă?ĂžĂ&#x;Ă˜Ă˜Ă?ĂŽËœ ÚÙĂ?Ă?Ă“ĂŒĂ–ĂŁ Ă’Ă&#x;ĂœĂž Ęś ÚÙĂ?Ă?Ă“ĂŒĂ–ĂŁ ĂŽĂ“Ă?Ă‹ĂšĂšĂ™Ă“Ă˜ĂžĂ?ĂŽ Ă—Ă&#x;Ă— Ă‹Ăž ÞÒÓĂ? Ă—Ă?Ă?ĂžĂ“Ă˜Ă‘ Ă–Ă?Ă?Ăž ÞÒËÞ Ă™Ă?Ă?Ă“Ă?Ă? ĂŒĂœĂ&#x;Ă“Ă?Ă?ĂŽ ĂŒĂ&#x;Ăž Ă?ĂžĂœĂ™Ă˜Ă‘Ë› Ă’Ă? Ă–Ă?Ă?Ăž åÓÞÒ ÞÒĂ?Ă?Ă? ĂĄĂ™ĂœĂŽĂ?Ëœ ˍ˛˛˛ ĂĄĂ‹Ă? Ă?Ă’Ă™Ă?Ă•Ă?ĂŽ ĂŒĂ&#x;Ăž Ă‹Ăž ÞÒĂ? Ă?Ă‹Ă—Ă? ÞÓ×Ă?Ëœ Ă—ĂŁ Ă—Ă“Ă˜ĂŽ Ă•Ă“Ă?Ă•Ă?ĂŽ Ă“Ă˜ Ă‹Ă˜ĂŽ ÞÒÙĂ&#x;Ă‘Ă’Ăž ĂĄĂ? ĂĄĂ“Ă–Ă– ĂŽĂ?Ă‹Ă– åÓÞÒ ÞÒÓĂ?Ëœ Ă‹ĂŁĂ–Ă?Ă“Ă‘Ă’ ĂĄĂ“Ă–Ă– Ă?ÞÓÖÖ Ă’Ă‹Ă Ă? Ă‹ Ă–Ă“Ă?Ă? Ă‹Ă˜ĂŽ ĂĄĂ?ËŞĂ–Ă– Ă—Ă‹Ă•Ă? Ă?Ă&#x;ĂœĂ? Ă™Ă? ÞÒËÞˏ˛

Ă‹ĂŁĂ–Ă?Ă“Ă‘Ă’ ĂŽĂ“ĂŽ Ă‘Ă™ Ă™Ă˜ ÞÙ Ă?Ă&#x;Ă?Ă?Ă?Ăœ Ă‹ Ă‘ĂœĂ?Ă‹Ăž ĂŽĂ?Ă‹Ă–Ë› Ă’Ă? Ă?Ă’Ă‹ĂœĂ?ĂŽ ÞÒËÞ Ă?Ă’Ă? ĂĄĂ‹Ă? ĂŒĂœĂ‹Ă˜ĂŽĂ?ĂŽ ĂŽĂ“Ă?Ă‘Ă&#x;Ă?ĂžĂ“Ă˜Ă‘ Ă‹Ă˜ĂŽ ÞÙÖÎ Ă?Ă’Ă? Ă’Ă‹ĂŽ ĂœĂ&#x;Ă“Ă˜Ă?ĂŽ Ă’Ă?Ăœ Ă–Ă“Ă?Ă? ĂŒĂŁ Ă’Ă?Ăœ Ă?Ă–Ă‹Ă?Ă?Ă—Ă‹ĂžĂ?Ă?Ë› Ă&#x;ĂœĂžĂ’Ă?ĂœĂ—Ă™ĂœĂ?Ëœ Ă?Ă’Ă? Ă?Ă‹Ă?Ă?ĂŽ Ă?ĂœĂ&#x;Ă?Ă– Ă?Ù××Ă?Ă˜ĂžĂ? Ă?ĂœĂ™Ă— Ă?ĂžĂœĂ‹Ă˜Ă‘Ă?ĂœĂ? ĂĄĂ’Ă™ Ă”Ă“ĂŒĂ?ĂŽ ÞÒËÞ Ă?Ă’Ă? ĂĄĂ™Ă&#x;Ă–ĂŽ Ă˜Ă?Ă Ă?Ăœ Ă‹Ă?Ă’Ă“Ă?Ă Ă? Ă‹Ăž Ă?Ă?ÒÙÙÖ˛ Ă’Ă? ĂšĂœĂ“Ă˜Ă?ÓÚËÖ Ă‹Ă˜ĂŽ Ă?Ă?ÒÙÙÖ Ă?Ă™Ă˜ĂžĂ“Ă˜Ă&#x;Ă?ĂŽ ÞÙ Ă•Ă?Ă?Ăš ÞÒĂ?Ă“Ăœ Ă’Ă?Ă‹ĂœĂžĂ? Ă‹Ă˜ĂŽ ĂŽĂ™Ă™ĂœĂ? ÙÚĂ?Ă˜ Ă?Ă™Ăœ Ă‹ĂŁĂ–Ă?Ă“Ă‘Ă’Ë› Ă&#x;ĂœĂ“Ă˜Ă‘ Ă’Ă?Ăœ ĂšĂœĂ?Ă‘Ă˜Ă‹Ă˜Ă?ĂŁËœ Ă?Ă’Ă? ËÞÞĂ?Ă˜ĂŽĂ?ĂŽ Ă?Ă?ÒÙÙÖ ĂšĂ‹ĂœĂžĚ‹ĂžĂ“Ă—Ă? Ă‹Ă˜ĂŽ ĂœĂ?ĂžĂ&#x;ĂœĂ˜Ă?ĂŽ Ă?Ă™Ă&#x;Ăœ ĂĄĂ?Ă?Ă•Ă? Ă‹Ă?ĂžĂ?Ăœ Ă’Ă?Ăœ ĂŒĂ‹ĂŒĂŁ ĂĄĂ‹Ă? ĂŒĂ™ĂœĂ˜Ë› Ă’Ă“Ă? Ă—Ă™Ă˜ĂžĂ’ Ě™Ă˜Ă™ĂĄ ÍŻÍ´ ĂŁĂ?Ă‹ĂœĂ? ÙÖÎ̚ Ă?Ă’Ă? ËÞÞĂ?Ă˜ĂŽĂ?ĂŽ Ă’Ă?Ăœ Ă?Ă?ÒÙÙÖ˪Ă? ĂšĂœĂ™Ă— Ă‹Ă˜ĂŽ ĂĄĂ™Ă&#x;Ă–ĂŽ ĂŒĂ? Ă‘Ă™Ă“Ă˜Ă‘ Ă“Ă˜ĂžĂ™ Ă&#x;Ă˜Ă“Ă Ă?ĂœĂ?ÓÞã ÞÙ Ă?ĂžĂ&#x;ĂŽĂŁ Ă&#x;Ă?Ă“Ă? ÞÒÓĂ? Ă?ÚÞĂ?Ă—ĂŒĂ?ĂœË› Mrs Kehinde Omoru writes from the UK

‘PTI to Award B.Tech Degrees Soon’ Sylvester Idowu in Warri The Petroleum Training Institute (PTI) may in the near future begin to award Bachelor of Technology (B.Tech) degrees, against the present Higher National Diploma (HND).

The Principal of the institute, Professor Esayegbemu Iyuke said this recently during the matriculation ceremony of Full Time and School of Industrial Continuing Education students of the 2018/2019 academic session, at the PTI Conference Centre, Effurun, Delta State.

According to him, the proposal will soon be presented to the institution’s governing council and to the National Universities Commission (NUC), adding that the institution will get the chance to use the facilities amounting to about N93 billion provided by the Petroleum Training Development Fund (PTDF) when it came up with its upgrade programme a while back.

The PTI president, who described the move as a laudable development, said most countries across the world do not recognise or award HND certificates.

He explained that the disparity between HND and degree gradu-

ates in job places will no longer surface once the certificate issue is achieved. “I’m sure our students will like it, instead of coming out with HND, not that it is not good, they come out with B.Tech, they will be bolder, they will appreciate themselves more and of course that again will give us the opportunity to use the huge facility and huge amount of money the PTDF has spent in the institute. “If you remember, PTDF came up with an upgrade programme, where it bought so many equipment worth, about N93 billion to the institute. Now we are not able to use all of them. “If we were giving PHD for example, I know we will use all of them, but we are not there.

With B.Tech, we will put all the facilities to use. That becomes the educational pathway for PTI and every other thing plugs in,�

Iyuke said.

Asked if the duration of the institute’s programmes may be affected, the don said already, students of PTI spend five years to get HND certificates just like every standard engineering programme in universities; hence the time will be the same.

5 ) * 4 % ": t WEDNESDAY, JANUARY 30, 2019

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5 ) * 4 % ": t WEDNESDAY, JANUARY 30, 2019

5 ) * 4 % ": t WEDNESDAY, JANUARY 30, 2019

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38

W E D N E S DAY Ëž JANUARY 30, 2019

BUSINESS/MONEYGUIDE

CBN Releases e-Payment Guidelines for Salaries, Pension, Remittances Nume Ekeghe In a bid to make the Nigerian payment system align with international best practice and drive its cashless policy, the Central Bank of Nigeria yesterday released an exposure draft on the Regulations on End to End Electronic Payment of Salaries, Pensions and Other Remittances, Suppliers and revenue collections in Nigeria.

The draft guideline posted on the central bank’s website yesterday, was signed by the Director Payments System Management Department, CBN. The National Payment Systems Vision 2020 (PSV- 2020), aims at ensuring the availability of safe, effective and efficient mechanisms for conveniently making and receiving all types of payments from any location and at any time, through multiple electronic channels.

This is expected to reduce the time and costs of transactions, minimise leakages in revenue receipts and at the same time, provide reliable audit trails, thereby making the Nigerian payments system align with international best practices. “Following a review of the initial guideline, the CBN hereby issues the exposure draft of the regulation on end-to-end electronic payment of salaries, pensions & other remittances, suppliers and revenue collection in Nigeria (Revised, 2018) for the review and feedback of banks and other financial institutions in Nigeria. “Further to the implementation of the guideline on end- toend electronic payment of salaries, pensions, suppliers and taxes by all public and private sector organisations as directed in the bank guidelines referenced (CBN/BPS/PSV/ GEN/014/05), deposit money

banks are to dishonour payment instructions for all forms of salaries, pensions, suppliers and taxes not transmitted on a bank approved straight through electronic payment and collection platform issued by organisations with more than 20 employees. “This means payment instructions and associated schedules are no longer to be transmitted to DMBs through unsecured channels, such as paper-based mandates, flash drives, compact discs (CD), email attachments, etc. by qualifying public and private sector organisations.

Enforcement by the Bank shall be effective from the date of the issuance of this regulation. “The guideline applies to all CBN regulated entities operating in Nigeria and mandates adoption, implementation and compliance with the directives on end-to-end electronic payments of all forms of salaries, pensions, suppliers, taxes.�

Sterling Bank Partners Opportunity Network onTrade Sterling Bank Plc has entered into a partnership with Opportunity Network, a digital deal match-making platform for vetted businesses and investors to connect to reliable trade partners globally.

The partnership is aimed at enhancing international trade between Nigeria and the rest of the world.

Opportunity Network is a private, invitation-only network and business match-making platform where business owners, CEOs and high network individuals are carefully selected and vetted by a financial institution.

It gives businesses opportunities in sales, mergers and acquisition, capital raising, company sales, all in in a trusted environment.

Speaking during the unveiling

of the partnership in Lagos on Monday, Managing Director, Sterling Bank Plc, Mr. Abubakar Suleiman, said the collaboration would enhance international trade and would allow for interaction of trusted partners.

He said: “As we think of the world becoming flat and trade becoming globalised, the one question Nigeria faces is who to establish trust for corporates outside Nigeria. “When I present myself as Nigerian business, how does a counterpart from Europe America or Asia determine if I can be trusted. Because in the absence of trust, the cost of doing business for the country becomes limiting. “So what opportunities network has developed is a

platform that makes it possible for us to establish trust despite the physical distance that exits.�

He further said Sterling Bank was committed to ensuring that businesses grow and connect with local and international partners. “Opportunity network is that trusted place where trusted partners can interact. With this partnership, our customers will benefit because through the network, more cross border transactions will be done.�

Also speaking, the Managing Director Nigeria, Opportunity Network, Adriana de la Cruz Duffo, said the platform aggregates high-quality commercial, mergers and acquisitions, and capital related opportunities from around the world into one single, online location.

Platform Capital to Unveil Shoe Factory Platform Capital has announced the ground-breaking ceremony of its Leather City Park (Leather City) and NIBRA Designs Limited (NIBRA) – a shoe production initiative in Ariara market, Aba, Abia state.

The shoe factory would be the largest in sub-Saharan Africa, leveraging world class Brazilian technology.

The NIBRA facility is expected to be launched with an initial capacity of 10,000 pairs a day, growing to 100,000 in five years.

A statement from the firm stated that the project was scheduled to be inaugurated by the fourth quarter of 2019, adding that NIBRA would employ 1,000 people for a start, growing to over 5,000 in the medium term. “Under secured offtake arrangements for 100 per cent of our initial installed capacity,

we will serve domestic and international markets. Leather City on the other hand, will provide opportunities to increase productivity and product quality for a significant number of the 120,000 individuals currently in Ariara market. “For private enterprises and SMEs, Leather City will offer infrastructure as a shared service and skills development training to the growing population of Nigerian entrepreneurs in the leather and related goods space. “This will form part of a broader strategy to leverage the National Leather Policy of the Federal Government of Nigeria and develop the local supply chain to reduce dependence on imports as we improve the perception of made in Nigeria products. “We at Platform view this

as a transformational initiative for the state of Abia, the entire South-East region and is a testament to Nigeria’s tested entrepreneurial spirit.

Our sincere appreciation goes to our partners who have made this possible - Governor Okezie Ikpeazu; NIBRA’s chairperson, Dr. Wura Abiola, the MD of Abia state PPP - Mr Austin Ufomba; and the Nigeria Export Import Bank as a key stakeholder,� the statement added.

Furthermore, it pointed out that the city would operate as a free trade zone on sustainable principles and world class infrastructure. “This project represents further validation of Platform Capital’s growth opportunities strategy, where we take a long-term view with a bottom-up approach to value creation,� it added.

CBN Injects Additional $210m into FX Market The Central Bank of Nigeria (CBN) yesterday injected another sum of $210 million into the interbank foreign exchange market.

Figures released by the CBN indicated that authorised dealers in the wholesale segment of the market received the sum of $100million, while the small and medium scale enterprises

(SMEs) and the invisibles segments were allocated the sum of $55 million each.

The Director, Corporate Communications Department at the CBN, Mr. Isaac Okorafor, confirmed the figures and restated the Bank’s resolve to always meet the request of genuine customers in the various segments of the market.

The Bank had last Friday injected a total sum of $289.76 million into the retail Secondary Market Intervention Sales (SMIS) and CNY38.70million in the spot and short-tenored forwards of the inter-bank foreign exchange market.

The naira sold at N360 to a dollar on the Bureau De Change (BDC) segment of the market.

L-R: Lagos State Gubernatorial Candidate, All Progressives Congress(APC), Mr Babajide Sanwo-Olu; CEO Royal OAKS Event Centre Lekki, Mrs Augusta Ikpea-Enaholo and Chairman, Mr Damian Enaholo, during the opening ceremony of Royal OAKS Event Centre Lekki in Lagos‌recently

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

MARCH 2018 Broad Money (M2)

24,303,049.86

-- Narrow Money (M1)

10,912,604.10

---- Currency Outside Banks

1,668,378.21

---- Demand Deposits

9,244,225.90

-- Quasi Money

13,390,445.76

Net Foreign Assets (NFA)

15,619,134.18

Net Domestic Assets(NDA)

8,683,915.68

-- Net Domestic Credit (NDC)

26,267,136.53

---- Credit to Government (Net)

3,823,345.45

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

5,433,209.43

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

-1,609,863.98

---- Credit to Private Sector (CPS)

22,443,791.08

--Other Assets Net

-17,583,220.85

Reserve Money (Base Money)

6,746,646.49

--Currency in Circulation

1,668,378.21

--Banks Reserves

4,357,551.58 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

Money Market Indicators (in Percentage) Month

March 2018

Inter-Bank Call Rate

15.16

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

14.00

Treasury Bill Rate

11.84

Savings Deposit Rate

4.07

1 Month Deposit Rate

8.82

3 Months Deposit Rate

9.72

6 Months Deposit Rate

10.93

12 Months Deposit Rate

10.21

Prime Lending rate

17.35

Maximum Lending Rate

31.55

Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT MONDAY, 28 JANUARY 2019

The price of OPEC basket of fourteen crudes stood at $59.57 a barrel on Monday, compared with $60.90 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), Djeno (Congo), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela SOURCE: OPEC headquarters, Vienna

39

W E D N E S DAY ˾ JANUARY 30, 2019

MARKET NEWS

UBA Approves Financial Accounts, Set for Dividend Declaration Goddy Egene Shareholders of United Bank for Africa (UBA) Plc are expecting the announcement of a final dividend for the 2018 financial year. This followed the approval of the bank’s financial statements for the year ended December 31, 2018.

In a notification to the Nigerian Stock Exchange (NSE), UBA said its Board of Directors last Monday approved its financial statements

and payment of dividend to shareholders, subject to the approval of the Central Bank of Nigeria (CBN).

“We shall provide the details of the results and dividend payments as well as related corporate actions to the Exchange upon the approval of the accounts by the CBN,” the bank said in the notification signed by Group Company Secretary, Mr. Bili Odum.

Market operators and sharehold-

P R I C E S MAIN BOARD

F O R DEALS

ers are highly optimistic that UBA will declare final dividend higher than what was paid for the 2017 financial year. The bank paid a total dividend of 85 kobo in 2017, comprising 20 kobo interim and 65 kobo final. It has already paid an interim of 20 kobo for the half year ended June 2018 and given its improved results for the nine months, stakeholders expect a higher final dividend for the year.

UBA posted a profit before tax

S E C U R I T I E S

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N )

(PBT) of N79.1 billion for the nine months ended September 30, 2018, compared with N78.2 billion while profit after tax (PAT) improved from N60.9 billion from N61.6 billion. Commenting on the nine months performance, the Group Managing Director/ CEO, UBA Plc, Kennedy Uzoka, said: “We achieved a number of strategic imperatives during the quarter and committed more investments in the future of the business - building a solid founda-

T R A D E D MAIN BOARD

A S

tion for sustainable and superior return to our shareholders.”

Also speaking on the performance, the Group Chief Financial Officer, Ugo Nwaghodoh said that despite the relative volatility in the third quarter of 2018, especially in the face of United States interest rate hikes and concerns over global trade war, which has disrupted the interest and exchange rate environment in many African countries, the bank remains on track to deliver

O F

its earnings target for the year.

He said: “We remain committed to our five-year plan of working down cost to income ratio (CIR) to 50 per cent, which we consider to be a normalised medium-term CIR. Overall, we closed the third quarter with a post-tax return on average equity (RoAE) of 16 per cent and the Group remains well capitalised and liquid, as reflected in the Group’s capital adequacy of 21 per cent and bank’s liquidity ratio of 53 per cent.”

2 9 / 0 1 / 2 0 1 9 DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

Wednesday January 30, 2019

TR

UT H

& RE A S O

N

Price: N250

MISSILE Lagos Lawmakers to Ambode “We had issues of virement and monies being spent without approval. We had cases of items that were not budgeted for being carried out. It shows the executive re-write the budget at will. A breach of the constitution and gross misconduct are being committed here and the punishment is clear. We should begin an impeachment process if the executive does not retrace its steps.

-Lagos State House of Assembly threatening to remove Governor Akinwunmi Ambode over allegations of gross misconduct.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

Security and Elections The security and welfare of the people shall be the primary purpose of government… (Chapter II, Section 14 (2b) of the 1999 Constitution)

I

n the last few days, the constitution has been variously invoked in the public sphere to support arguments. Well, it all depends on the lawyer to whom you prefer to listen as the same provisions of the constitution are sometimes quoted to support positions held by opposite sides. Perhaps, more fundamentally, the constitution should be more frequently cited to remind politicians in and out of power about the “primary purpose of government” as quoted above in this column.

The factor of security is relevant to the next month’s elections in two respects. The success of the electoral process is hinged on the security situation and if voting is to be determined by issues security ought to be an issue of the election.

So there is no dispute about the primacy and urgency of the security question especially as the elections are concerned.

Hardly would any politician (regardless of partisanship) deny the spectre of insecurity haunting the land. An internal memo of a federal government agency circulating in the social media illustrates the seriousness of the state of insecurity. The security department of the agency is reportedly advising members of staff and their families “to avoid” the Abuja-Kaduna road at certain hours of the day because of kidnappers.

Now, if movement from the nation’s capital to the most metropolitan city in the north could be so dangerous, you could imagine the fate that awaits travellers in the hinterland.

Only yesterday, the National Security Adviser, General Babagana Monguno, reportedly held a meeting with state governors. On the agenda was security in the context of the elections. The meeting was reminiscent of the developments immediately preceding the 2015 elections. The elections were indeed postponed for a few weeks in order to ensure that the northeast in particular was secure enough for any meaningful voting. The Independent National Electoral Commission (INEC) postponed the elections based on consultations with Monguno’s predecessor, Colonel Sambo Dasuki.

However, unlike four years ago when everyone agreed that Boko Haram insurgents constituted the threat in the northeast, now the allegation by the state is that some forces plan to cause trouble during and after the elections in parts of the country. So the cooperation of the state governors is being sought to ensure the workability of the arrangement made to counter possible disruption of the electoral process.

However, while it may not be correct to say that relatively nothing has changed since 2015, insecurity remains an issue of existence in Nigeria.

In some quarters the hope of change seems to have turned into despair. How else can describe a situation in which Governor Kashim Shettima of Borno State, the epicentre of the Boko Haram war, broke down the other day as he briefed President Muhammadu Buhari on the situation in the troubled state? Zamfara State Governor Abdul’aziz Yari has said he would welcome the declaration of a state of emergency in the state.

Earlier, Yari had claimed that he “resigned” as the chief security officer of the state. By the way, the governor didn’t indicate then if he would also stop drawing security votes, a matter that is beyond the realm of fiscal accountability. Even from Katsina, the home state of the President, an alarm came recently from Governor Aminu

Buhari Bello Masari about insecurity in the state.

This unacceptable situation should warrant the optimal attention of the commander-in-chief, President Buhari.

In retrospect, some voters might have preferred presidential candidate Buhari in 2015 because they saw in him the capacity to be a fitting

commander-in-chief for a country facing a huge challenge of security. As it is the case now in the current campaigns, security was one of the areas Buhari promised to make the focus of his administration.

Meanwhile, the murderous activities of Boko Haram terrorists continue in the northeast while some other killers have foisted banditry on Zamfara and other places in the northwest. Kidnappers and armed robbers make highways and communities unsafe in other parts of the country.

The joint capacity of the military, police and intelligence and other security agencies as well as the justice system have been put into a severe test by the frightening profile of insecurity in the land. The test comes up in the areas of prevention of the crime, combatting the killers as well as apprehending and punishing the criminals. The corollary to the constitutional provision that security is the primary purpose of government is that every life should be secure and accounted for by the government.

In another clime, this trend in the security sector in an election year would warrant informed discussions of insecurity as a primary issue.

Unfortunately, it is not so here in Nigeria.

The composition and the competence of the Buhari security team have been questioned in many quarters. The less than satisfactory outcomes of

their efforts make such questions quite legitimate.

At issue is a sense of public accountability. So much hopes and resources have been invested in the security sector. With the reported killings and havoc wreaked by criminals, the output could not be said to justify these huge investments.

Strangely, Buhari does not seem to be in the mood to change the team.

Yet, in the unfortunate circumstance, all eyes should rightly be on the commander-in-chief. No one, of course, expects the military and security chiefs to discuss their operations in the open for obvious tactical reasons. But the strategic goals and direction of the security sector should be a matter of public review. Any politician seeking to replace Buhari as the commander-in-chief should go beyond tirades and offer robust alternatives in the course of the current campaigns. Buhari too should make it clear what he plans to do differently to improve the security situation.

All told, two weeks to the presidential election, have there been vigorous debates from contrasting perspectives on security as a central question in the election?

Certainly not. To what extent will the presidential election be determined by the factor of security?

It’s doubtful if even the smartest psephologists could provide definite answers to this pertinent question.

Akanbi and Gani at Times Like This

By Issa Aremu Last Friday, President Muhammadu Buhari suspended Honourable Justice Onnoghen as the Chief Justice of Nigeria reportedly based on an interim order by the Code of Conduct Tribunal (CCT) over allegations of breaching the code of conduct of public officers.

The President also announced the appointment of Mr. Justice Ibrahim Tanko Muhammed as Acting Chief Justice of Nigeria.

The development has generated a lot of reactions with some for and others against the move by the Federal government, some for and against the embattled Chief Justice.

The suspension of a Chief Justice of the Federation on the eve of 2019 elections must necessarily raise eyebrow and suspicions.

The chief justice, among other functions, has the power to constitute election tribunals for in case of petitions that promise to be in torrent.

My interest is, therefore, academic especially with respect to institution building in Nigeria, in this case the judiciary. So rather than agonizing over the trial and suspension of the Chief Justice Onnoghen, all stakeholders in the Judiciary sector and Nigerian democracy must organise to save the administration of justice from the age- long perception of corruption, double standards and self help. Given the importance of rule of law, equity and justice to sustainable liberal democracy, more than ever before, Nigerian judiciary needed reform and restructuring as a precondition for the transformation of Nigeria from corruption and underdevelopment to development and prosperity.

This is one lesson of the Onnoghen saga.

The devil is in the technical details of the suspension of Mr Onnoghen. However the substantive allegations and causal defence of the chief justice fanning “mistake’’ and “forgetfulness’’ on the imperative of assets declarations must also task our imagination.

For one, in a country that has been running huge budget deficits, it is curious that a public officer of chief justice standing could allegedly have surplus

accounts in millions of foreign currency.

Certainly those who dispense justice to all must be accountable for their source of wealth if they would ask us all to do the same.

In his celebrated book, Audacity of Hope, a former American President, Barack Obama, noted that some countries like “, Nigeria …have developed two legal systems — one for foreigners and elites, and one for ordinary people”.

Would Nigeria conclusively prove Obama’s literary acid test?

It is commendable that President Buhari in his address on the chief justice suspension urged for enhanced fight against corruption, (which is the substantive issue in the chief justice saga) regardless of who is involved. According to the President, “the fight against corruption is one of the tripod of policies promised to Nigerians by this administration.”

The late Justice Mustapha Akanbi was the pioneer Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and Chief Gani Fawehinmi was the globally tested human rights lawyer who fought corruption in public space until he passed on about decade ago.

What would be the reactions of both Justice Mustapha Akanbi and Gani Fawehinmi to the President’s revelation that “it is no secret that this government is dissatisfied with the alarming rate in which the Supreme Court of Nigeria under the oversight of Chief Justice Walter Onnoghen has serially set free, persons accused of the most dire acts of corruption, often on mere technicalities, and after quite a number of them have been convicted by the trial and appellate courts”?

Why on earth would a set of lawyers for whatever reason seek “restraining court orders” to prevent accountability on the part of the head of the nation’s judiciary to evade accountability?

Why “shopping” for restraining court orders in a National Industrial Court meant for dispute resolution mainly in “matters relating to or connected with any labour, employment, trade unions, industrial relations and matters arising from workplace, the conditions of service, including health, safety, welfare of labour, employee, worker and matter incidental

thereto or connected therewith”?

I was also a labour delegate of 2014 National Conference during the Jonathan administration.

It’s time President Buhari administration revisited the recommendation of the confab with respect to appointment of judicial officers. One of the critical resolutions is that the “ process leading to and concerning the appointment of judicial officers should be advertised, done openly and transparently and essentially on merit.” What is as well at stake in the chief justice saga was the character and principles of the judicial officer in the eye of the storm.

There are varying perceptions of the positions and methodologies of the late progressive Advocate and irrepressible human rights activist, Chief Gani Fawehinmi SAN on topical national issues of the times he was alive. However there was (and there is!) Still a consensus that the late non-state actor was a fighter both in words and deeds against corruption, which President Muhammed Buhari had rightly observed, could kill the republic if we do not exorcise it. What would be his reaction to the current chief justice saga?

What would be the reactions of Justice Mustapha Akanbi who audaciously prosecuted a number of judges on account of graft?

In one of Justice Akanbi’s last interviews entitled “Corruption Will Kill Nigeria.” he had this say: “When it comes to the judiciary, it is my constituency and I don’t want to run that institution down. But there is the need for those in authority to look at the judges they have now. There was a case in which we arrested a gentleman and took the person to court.

After we sought leave of the High Court to prosecute the gentleman – I don’t want to mention his name – we were granted leave and he was asked to be locked up so that later the matter would be taken up. When the matter came to court the following day, the gentleman applied for bail. r Comrade Aremu, Member National Institute, is the Labour Party (LP) governorship candidate in Kwara State.

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MARKET NEWS

Cordros Asset Reinvigorates Mutual Funds with Online Contest Goddy Egene

Cordros Asset Management Limited (CAML) has launched the Cordros 10k Challenge, as part of measures to reintroduce the Mutual Funds products of the company.

The Acting Managing Director, CAML, Morenike Da-Silva, said the campaign, which is deployed through the social media platform to engage potential clients through a video contest, is targeted at a wider market which includes

the younger demographic to engage them on the importance of investing in general and mutual funds specifically. “Our mutual funds products include the Cordros Money Market Fund and Cordros Milestone Fund 2023 and Cordros Milestone Fund 2028,� said Da-Silva.

According to her, the Cordros Money Market Fund is an openended fund that seeks to provide safety, liquidity, diversification and competitive return. “The fund offers investors

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

the opportunity to preserve their capital and earn returns from investments in short term money market securities such as treasury bills, commercial papers, banker’s acceptance, certificate of deposits and other eligible money market instruments with financial institutions in Nigeria recognised by the Securities & Exchange Commission(SEC),� she said..

Da-Silva added that the Money Market Fund has grown in the excess of N5 billion and continues

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 28Jan-2019, unless otherwise stated.

to grow, saying the minimum initial investment for the fund is N10,000 for 100 units while additional investments is N5,000. “Our other products, Cordros Milestone Funds 2023 and Cordros Milestone Fund 2028 are targetdated mutual funds which pursues a long-term investment strategy.

The Milestone Funds are balanced funds and have a mix of equities, fixed income and money market instruments.

The funds will start out seeking capital appreciation and will

become more conservative by seeking capital preservation towards their target dates 2023 & 2028. “This fund is the first set of target-dated mutual funds to be launched in Nigeria although it is a popular fund with over $1.1 trillion in investment globally. The Funds which are initiatives of our asset management subsidiary is a strategic move aimed at providing products which cater to the retail segment of the economy. These are specially designed to provide

for individuals and corporations saving towards a ‘target’.The minimum amount required to subscribe to the fund is N2,500 and investors can make an additional investment of 10 units or more for N1,000�, she added.

The CAML boss explained that Cordros 10k Challenge is currently ongoing on all the social media pages of the company and people with the highest number of likes from the video contest will win funded mutual funds accounts from CAML.

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 N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A 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 0.85 0.86 0.95% ACAP Income Funds 0.62 0.62 11.12% 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 13.09% AIICO Balanced Fund 2.24 2.26 0.69% 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 16.56 17.06 -0.17% ARM Discovery Fund 357.01 367.78 0.11% ARM Ethical Fund 28.64 29.50 1.40% ARM Money Market Fund 1.00 1.00 13.11% 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 101.76 102.47 0.56% AXA Mansard Money Market Fund 1.00 1.00 13.41% 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 13.98% Paramount Equity Fund 11.56 11.86 -1.26% Women's Investment Fund 101.20 103.80 -1.33% 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 13.14% Cordros Milestone Fund 2023 96.99 97.28 Cordros Milestone Fund 2028 99.27 99.73 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund N/A N/A N/A Coronation Balanced Fund N/A N/A N/A Coronation Fixed Income Fund N/A N/A N/A EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 12.83% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 11.48% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund N/A N/A N/A FBN Heritage Fund 143.70 144.92 0.20% FBN Money Market Fund 100.00 100.00 13.66% FBN Nigeria Eurobond (USD) Fund - Institutional NA NA N/A FBN Nigeria Eurobond (USD) Fund - Retail NA NA N/A FBN Nigeria Smart Beta Equity Fund 147.61 149.77 -1.59% 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 1.20 1.22 -1.52% Legacy Debt Fund 3.27 3.27 0.90% Legacy USD Bond Fund 1.03 1.03 0.36% 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 N/A N/A N/A Coral Income Fund N/A N/A N/A 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 12.85% Nigeria Entertainment Fund 107.38 107.78 7.39% 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 100.00 100.00 12.95%

Vantage Balanced Fund 2.16 2.17 0.21% Vantage Guaranteed Income Fund 1.00 1.00 15.95% Kedari Investment Fund (KIF) 120.72 120.90 -3.37% LOTUS CAPITAL LTD ďŹ ncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.22 1.25 0.92% Lotus Halal Fixed Income Fund 1,080.09 1,080.09 1.00% 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 N/A N/A N/A Meristem Money Market Fund N/A N/A N/A 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 1.36 1.38 6.18% PACAM Fixed Income Fund 12.35 12.41 1.17% PACAM Money Market Fund 10.00 10.00 12.55% 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 120.35 120.97 -0.29% 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 1.01 1.01 0.98% 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 2,321.52 2,335.64 2.49% Stanbic IBTC Bond Fund 192.48 192.48 2.55% Stanbic IBTC Ethical Fund 0.94 0.95 -0.53% Stanbic IBTC Guaranteed Investment Fund 249.31 249.36 2.89% Stanbic IBTC Iman Fund 161.91 163.66 -0.77% Stanbic IBTC Money Market Fund 100.00 100.00 13.09% Stanbic IBTC Nigerian Equity Fund 8,381.31 8,482.83 0.49% Stanbic IBTC Dollar Fund (USD) 1.11 1.11 3.19% 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 1.20 1.20 -0.46% United Capital Bond Fund 1.61 1.61 0.87% United Capital Equity Fund 0.69 0.70 -3.62% United Capital Money Market Fund 1.00 1.00 14.32% United Capital Eurobond Fund 107.79 107.79 0.49% United Capital Wealth for Women Fund 1.09 1.09 -0.46% 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 11.13 11.29 4.95% Zenith Ethical Fund 12.35 12.47 2.89% Zenith Income Fund 20.79 20.79 8.01% Zenith Money Market Fund 1.00 1.00 11.81%

REITS NAV Per Share

Yield / T-Rtn

5.95 118.12 51.84

-39.35% 0.06% 0.05%

Bid Price

Offer Price

Yield / T-Rtn

10.55 113.73 88.04

10.65 116.19 89.68

-0.03% -3.03% -0.70%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Union Homes REIT

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.03 7.16 14.58 13.09 145.68

4.07 7.24 14.68 13.29 147.68

0.65% -6.05% -2.48% 5.87% 1.48%

NAV Per Share

Yield / T-Rtn

107.13

17.03%

INFRASTRUCTURE FUND Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund

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.

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48

WEDNESDAY, ÍťÍ¸Ëœ ͺ͸͚Π˞ T H I S D AY

FOR THE RECORD

Constitutional Breaches Under Buhari’s Watch I have chosen to write this letter to Your Excellency for the enviable role that your country plays as champion of Democracy and the Rule of Law. I am also writing you as Nigeria’s international development partner working together to deepen and strengthen our democracy as well as to help in the transformation of our economies and societies for the better.

President Muhammadu Buhari is threatening our democracy by serially breaching the provisions of our constitution and undermining organs and institutions of State in order to advance his personal interest. While the President has ironically taken oath to safeguard and defend the Constitution of the Federal Republic of Nigeria, the reality of his selective and wanton violations of its provisions means that his oath is observed only in the breach.

And as Your Excellency very much knows, respect for the rule of law is integral to promoting and preserving the values and principles of democracy. Sadly, however, by the actions of the government of President Muhammadu Buhari, one is forced to think otherwise.

As a presidential candidate in the forthcoming general elections that will be conducted and supervised by the government of President Muhammadu Buhari, I feel the urgent need to share with you some of these key violations of the provisions of our constitution and to demand that you pile pressure on the federal government to desist from these violations and ensure a level playing field for the general elections that are only a couple of weeks away. We acknowledge with profound appreciation the positions taken by some members of the international community in Nigeria and urge Your Excellency to add your country’s very strong voice against these breaches of Nigeria’s constitution. Your Voice is very important to the survival of Nigeria’s democracy.

Some of these constitutional infractions are highlighted below for your information and action as you may deem appropriate.

1 The Purported Suspension of CJN, Onnoghen On Friday, January 25, 2019, our nation woke up to the shocking news of the unilateral and extra-constitutional suspension of the Chief Justice of Nigeria (CJN), Justice Walter Onnoghen and the immediate appointment and swearing in of Justice Ibrahim Tanko Muhammad, as the new acting Chief Justice of Nigeria.

This action of President Muhammadu Buhari, not only breaches the Nigerian Constitution, but has also managed to undermine Presidential democracy by assaulting one of its hallowed doctrines of separation of Powers. For the records, Justice Onnoghen is the head of one of the Tripartite but mutually independent organs that form the government of the Federal Republic of Nigeria. To attempt to muscle out the Chief Justice of Nigeria using phony charges at a time when His Lordship was primed to play a central role in the fast approaching nationwide electoral process represents the boldest steps in the march to undermine our democracy.

This is undoubtedly an anti-democratic act which my political Party and I reject without reservation and for which I urge Your Excellency to condemn unequivocally.

Need I say, this brazen authoritarian and imperious stride of President Buhari is the latest action in a series of carefully planned onslaught on our nation’s hard earned democracy by an extremely power hungry and anxious President and the cabal that feeds fat around him as February 16, 2019 draws nearer.

The fact that the unlawful suspension of Chief Justice Onnoghen was announced just as it became public knowledge that the CJN was constituting the election petition tribunals is not lost on discerning Nigerians and the international community.

This act of desperation is geared towards affecting the outcome of the 2019 Presidential elections. Indeed, it is not just the CJN that has been "suspended", it is the Nigerian Constitution that has been infracted and, in effect, suspended, under the guise of

Buhari

the suspension of the CJN. The case involving the legality or otherwise of the charges against Justice Onnoghen is in court, as it should be.

So far, the judiciary has ruled in Justice Onnoghen’s favour. So, why not allow the court to adjudicate on the matter? What is the pressing urgency about this matter?

Let me therefore take the opportunity of this letter to urge your country and all well-meaning members of the International community to mount pressure on this government and all its anti-democracy functionaries know that their actions will have consequences. Strong consequences.

2.

The illegal purchase of the Tucano Aircraft: President Buhari sometime in April 2018 approved the purchase of Tucano Aircrafts for the Nigerian Military at the sum of $496 million. This, he did, without seeking prior approval of the National Assembly contrary to Section 80 (3) and (4) of the 1999 Constitution (as amended) which states very clearly, how the president can spend monies belonging to the Federation.

It provides: “(3) No money shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the Federation, except in the manner prescribed by the National Assembly.� “(4) No monies shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the Federation, except in the manner prescribed by the National Assembly�

N15 Million to the defendant as damages for his “illegal and arbitrary detention�. r 0O +BOVBSZ B 'FEFSBM )JHI Court sitting in Abuja reaffirmed previous court orders granting Col. Dasuki bail. r "MTP PO "QSJM UIF "CVKB %JWJTJPO of the Federal High Court affirmed, for the umpteenth time, its decision for the release of Col. Dasuki. b. Ibraheem El-Zakzaky, Leader of a Shiite Group, IMN: r 4IFJLI &M ;BL[BLZ IBT CFFO JO detention without trial for over 3years after his followers were massacred in broad daylight; his wife and family killed and his home burnt, in a gory and shameful show of brute force by the Nigerian Army.

This particular state violence is nothing short of genocide. r 0O %FDFNCFS UIF "CVKB %JWJTJPO of the Federal High Court presided by Justice Kolawole ordered the release of Sheikh El-Zakzaky and berated the Nigerian government for violating his rights.

4. The approval of $1 billion for military expenditure before approaching the National Assembly: The Nigerian government through the National Economic Council NEC, again in contravention of Section 80 (3) and (4) of the 1999 Constitution (as amended), granted approval for the release of $1 billion from the Excess Crude Account, ECA, for the procurement of military hardware and other equipment to fight insecurity in the country, ahead of the 2019 general elections without recourse to the National Assembly. Mansur Dan-Ali, Nigeria's Defense Minister disclosed this at the end of security chiefs meeting with President Muhammadu Buhari at the Presidential Villa, Abuja, on Wednesday, April 4, 2018.

By this act, the federal government acted contrary to the provisions of the Section 80 (3) and (4) of the 1999 Constitution, 3. Disregard for Orders of Courts: The Muhammadu Buhari administration which states: “(3) No monies shall be withdrawn from has serially violated court orders, going against the rule of law especially in three any public fund of the Federation, other than the Consolidated Revenue Fund of known cases. a. Col. Sambo Dasuki (Former National the Federation, unless the issue of those Security Adviser): Various courts have granted moneys has been authorised by an Act Col. Dasuki bail on at least six different of the National Assembly.

5. Executive Order No. 006 (On occasions; the Buhari led government has persistently refused to comply with the Preservation of Suspicious Assets and Related Schedules): court orders.

The enactment of the controversial r 'FEFSBM )JHI $PVSU JO "CVKB QSFTJEFE

by Justice Adeniyi Ademola in 2015 ordered Executive Order No. 006 as an Executive the release of Col. Dasuki’s passport and legislation which permits security agencies granted him permission to travel abroad for to freeze the assets of persons standing three weeks on medical grounds. Despite the trial or undergoing investigation without order made on November 3, the Department recourse to court orders. This is a usurpation of State Security Services, SSS refused to of legislative and judicial powers of the National Assembly and the judiciary as release Col. Dasuki. r "HBJO UIF GPSNFS /4" BOE GPVS PUIFST enshrined respectively under sections 4 were granted bail on December 18, 2015 and 6 of the Constitution of the Federal on a similar condition with a N250 million Republic of Nigeria and reminiscent of the military era of decrees. bond by Justice Hussein-Baba Yusuf.

The above, and many more that did not r 4JNJMBSMZ UIF GPSNFS /4" B GPSNFS Minister of State for Finance, Bashir Yuguda; make it into this very short letter, are the former Sokoto Governor, Attahiru Bafarawa; unfortunate actions of the government and three others were granted bail by Justice of a man who merely pays lip service Peter Affen on December 21, 2015 by the to being a reformed democrat.

General elections are upon us yet again.

Federal Capital Territory High Court in the sum of N250 million each and two I urge you to partner with Nigerians to sureties in like sum. The Federal Government defend our constitution and play an active cherry-picked the order whilst disobeying role in building our country. The choices the part that concerned the former NSA. facing all of us is either to stand aside r 5IF &$08"4 $PVSU QSFTJEFE CZ and watch Nigerians reelect a president Honorable Justice F.C. Nwoke on October who has been in constant violation of 4 2016 granted the former NSA bail and the laws of the land without remorse; or ordered the Nigerian Government to pay to support them show him the way out and elect a true democrat. We must send a clear message that the Nigerian nation is bigger than any individual.

Even if Nigerians opted not to elect me as president, the incumbent must go into the polls on his own record of lack of respect for the rule of law and not on the spurious perception of his “Integrity�.

We need to set precedence for successive leaders not to take democratic mandate for granted.

Even if Nigerians opted not to elect me as president, the incumbent must go into the polls on his own record of lack of respect for the rule of law and not on the spurious perception of his 'integrity'. We need to set precedence for successive leaders not to take democratic mandate for granted

r #FJOH UIF MFUUFS XSJUUFO CZ GPSNFS 7JDF 1SFTJEFOU BOE QSFTJEFOUJBM DBOEJEBUF PG UIF 1FPQMFT %FNPDSBUJD 1BSUZ 1%1

"UJLV "CVCBLBS UP UIF "NCBTTBEPST PG 'SBODF (FSNBOZ &6 64 BOE 6, )JHI $PNNJTTJPOFS

WEDNESDAY JANUARY 30, 2019 ˾ T H I S D AY

49

NEWSXTRA

Oil Price Rises to $61 as US Imposes Sanctions on Venezuela Ejiofor Alike with agency reports Crude oil prices rose yesterday after Washington imposed sanctions on state-owned Venezuelan oil company, PDVSA, in a move likely to curb the country’s crude exports.

However, the gains from this curb in oil supply from Venezuela could be capped by abundant supply and signs of a slowing Chinese economy.

But the upward momentum

in the global benchmarks gathered pace yesterday afternoon trading as the price of the international Brent crude oil rose by $1.31 at $61.24 per barrel and on track for its biggest monthly rise since April 2016.

Also, United States West Texas Intermediate (WTI) crude rose by $1.32 at $53.31 per barrel.

Venezuela has the world’s biggest proven oil reserves, but its potential has not been

realised fully because of a lack of investment.

The country is also a member of the Organisation of the Petroleum Exporting Countries (OPEC), which is implementing a supply cut deal to shore up prices.

Reuters reported that Venezuela’s exports fell to little more than 1 million barrels per day (bpd) in 2018 from 1.6 million bpd in 2017 The United States has been the biggest buyer of Venezuelan

oil despite their political differences, taking about half of the country’s export volumes, followed by India and China.

President Donald Trump administration’s sanctions on Venezuelan oil, aimed at driving President Nicolas Maduro from power, sent shockwaves around the world yesterday, triggering higher global oil prices and angry responses from China and Russia.

The White House imposed restrictions on Venezuelan

state-oil company PDVSA on Monday with the goal of curbing some $11 billion of crude exports from the OPEC member to the United States this year.

The Kremlin condemned the sanctions as illegal interference, while China said they would lead to suffering for which Washington would bear responsibility.

Both countries have lent billions of dollars to Venezuela and are concerned about new

stress on debt payments.

Venezuela has sunk into economic and political turmoil under Maduro’s socialist government, with inflation seen rising to 10 million percent this year, chronic food shortages, protests and mass emigration.

Maduro, a 56-year-old former union leader, was sworn in for a disputed second term this month after being re-elected last year in a vote denounced as illegitimate by the opposition and critics abroad.

Ohanaeze Ndigbo Scribe Denies Endorsing Atiku’s Presidential Bid Omololu Ogunmade in Aba The Secretary-General of Ohanaeze Ndigbo, the Igbo socio-cultural organisation, has denied the group’s endorsement of the presidential candidate of the Peoples Democratic Party (PDP), Alhaji Atiku Abubakar.

Instead, he promised to mobilise the people of Igbo race to vote for the presidential candidate of the All Progressives Congress (APC), President Muhammadu Buhari, whom he said had done well for the South-east.

The President-General of the organisation, Chief John Nnia Nwodo, had last week announced the backing of Ohahaeze Ndigbo for the

Marafa : I Don’t Give a Damn If APC Loses in Zamfara Deji Elumoye in Abuja The Chairman of the Senate Committee on Petroleum (Downstream), Senator Kabir Marafa, has said he wouldn’t mind if his party, the All Peoples Congress (APC), loses in his home state, Zamfara, in the forthcoming general election.

Marafa, who represents Zamfara Central Senatorial District at the National Assembly, however gave an assurance that President Muhammadu Buhari will win the February 16 presidential poll in the state.

The Senator, who addressed journalists at the National Assembly in Abuja yesterday emphasised that “I don’t give a damn if the APC loses in Zamfara State; after all, the crisis that we are in today started with APC itself.’’

He said that the crisis rocking the party in the state led to it not fielding candidates for the coming election.

Commenting on his loyalty to the party, Marafa declared.

“There is limit to loyalty as my loyalty first and foremost is to the Federal Republic of Nigeria, because we must have Nigeria before we can have the Senate.

“So, my loyalty is first to my God and to my people.

APC is not a religion. So, if APC decides that the worst APC candidate is better than the best other candidates from anywhere, I will respect them because they are in politics to field candidates to win elections.

But that cannot be true to me. So, I would go for the best for my people”.

presidential aspiration of Atiku and his running mate, Mr. Peter Obi. But Seceratary-General of Ohanaeze Ndigbo, Uche Okwukwu, countered the earlier endorsement yesterday at the reception organised by the paramount ruler of Aba,

Abia State, Eze Isaac Ikonne, for President Muhammadu Buhari in his palace, saying at no time was Atiku adopted.

Okwukwu, who made the declaration when Buhari paid homage to the monarch, insisted that information that the group had adopted any

presidential candidate was untrue.

He said he was in the palace to debunk such erroneous belief, pointing out that the organisation had resolved to visit Buhari in the Presidential Villa, within the next one week to buttress his submission that

Ohanaeze had not endorsed another candidate.

He said the occasion of the visit would affirm that Buhari is Ndigbo’s presidential candidate, promising that the group would also mobilise the people of Igbo race to vote for Buhari at the forthcoming presidential poll.

Describing himself as the custodian of the secretariat of the organisation, the secretarygeneral praised the president whom he said had executed many projects in the region adding that Buhari had done in the region what no other president had done.

54

W E D N E S DAY ˾ JANUARY 30, 2019

WEDNESDAY SPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com 0811 181 3083 SMS ONLY

LET Baptism for Oboh in South Africa Today Olawale Ajimotokan in Abuja Georgia Oboh will play her inaugural tournament on the Ladies European Tour (LET) in Johannesburg, South Africa beginning from today, January 30.

The teenager, who is Nigeria’s first acclaimed professional golfer on the European Tour will join 65 other contestants at the Canon Ladies Open at the Irene Country Club.

The tournament is listed on the Sunshine Ladies Tour and rated as Africa’s premier professional ladies golf with around 8-10 events.

Oboh finally fulfilled her potentials in December last year, when she successfully scaled through the LET qualifying school in Marrakesh, Morocco.

“I am so excited to start my first LET tournament in Africa, especially South Africa. The weather is friendly and the

golf course is superb with a lot of trees just like any course in Europe. I am looking forward to an exciting time and hope for the best in my first LET tournament in 2019,” Oboh enthused.

She and Casandra Hall, who won the 2018 Sanlam SA Women’s Stroke Play are among the rookiesmaking their Sunshine Ladies Tour debut.

They will be up against a strong field led the defending champion, Stacy Bregman and a one-time LPGA Tour champion Lee-Anne Pace.

Others on the card are Ashleigh Buhai, Bertine Faber, Kim Williams, Monique Smit, Tandi McCallum, Nobuhle Dlamini and Laurette Maritz.

Bregman is a five time winner on the Sunshine Ladies Tour, with her impressive profile including the Zambia Ladies Open, the Sun International Ladies Challenge, Dimension

Data Ladies Pro-Am and Cape Town Ladies Open.

Canon has for the third successive years sponsored the Sunshine Ladies Tour.

The company’s South Africa’s Corporate and Marketing Communications Executive, Dana Eitzen, said Canon is proud to be part of the tournament.

“The Sunshine Ladies Tour has enjoyed tremendous growth and support since its inception in 2014 and is certainly the most illustrious ladies’ professional circuit in Africa,” Eitzen said.

“Canon is once again proud to sponsor the Canon Sunshine Ladies Tour Open, which is traditionally the kick-off event when some of the best female golfers in the country and the world, convene for the start of the season. We are certain that the 2019 edition of this prestigious event will once again showcase tremendous skill and unrivalled sportsmanship and

Gov Dickson Rewards Bayelsa Queens with N22m for Winning NWPL Super 4 Bayelsa State Governor Henry Seriake Dickson has rewarded victorious Nigeria Women Premier League (NWPL) Champions Bayelsa Queens with N22million for clinching 2017/2018 Nigeria Women Premier League.

The Restoration Girls spanked defending Champions Nasarawa Amazons 2-0 in a keenly contested final at the Agege Stadium in Lagos.

While receiving the girls at the Government House in Yenagoa, Governor Dickson said plans are on to equip the Sports

sector with world-class sports facilities that will see Bayelsa among the leading states in the country when it comes to sports facilities.

Stressing that Bayelsa Queens triumph has shown that Bayelsa State is a state that does not associate itself with failure.

He also directed the commissioner for transport in the state to immediately release one of the brand new coastal buses to the Restoration Girls.

On his part, the stat’s Commissioner for Sports

Development, Mr Perekiye Buruboyefe, said the success story of the triumphant Queens is incomplete without thanking the state government for their massive support.

While appreciating the government he also explain how the (NWPL) is been run.

In a message of appreciation, Bayelsa Queens Chairman, Mr Ebiki Timitimi, lauded the state government for the developmental stride put in place towards galvanizing sports in the state.

we look forward to watching

the tour unfold over the next

Georgia Oboh is in South Africa for inaugural LET tournament today

Ahmed Musa’s Mom to Be Fashikun Goes HomeToday Buried in Edo State The mother of Super Eagles Assistant Captain Ahmed Musa, Mrs Sarah Musa, who died after a brief illness in an Abuja hospital last week is expected to be buried in Edo State.

A source close to the footballer told allnigeriasoccer.com in Jos, Plateau State, earlier yesterday that that is the request of the family of the deceased..

Mrs Sarah Musa, an indigene of Edo was a pillar to the dashing forward while he was growing up in Jos. She followed the then young Ahmed to most

of the grassroots football competitions in Jos following the earlier demise of his father while he was a toddler and the bond between mother and son was so strong.

Musa was too heartbroken to grant interview at his house in Rayfield, Jos yesterday as the former JUTH FC forward was still grieving.

Musa was granted compassionate leave by his Saudi Arabian club Al-Nassr FC following the loss of his mother.

A C C E S S L A G O S M A R AT H O N

IAAF Road Race Manager, OtherTop Stars to ArriveToday The IAAF Road Races Manager, Alessio Punzi, is expected to arrive in Lagos today for the fourth edition of the Access Bank Lagos City Marathon slated for this weekend.

Aside from Punzi, Norrie Williamson, an IAAF/AIMS Grade A measurer will also be coming in from South Africa for this year’s race.

Williamson who helped secure certification for the

Lagos marathon route is a course measurer of over three decades.

He measured the course for the 1996 Atlanta Olympics, 2000 Sydney Olympics, Athens 2004 Olympics and Beijing 2008 Olympic Games.

According to a statement from Olukayode Thomas, the Head of Communications and Media for the Access Bank Lagos City Marathon, other elite athletes from across the

world that would be part of this year’s marathon will also be arriving from their different bases later today.

For the 2019 Access Bank Lagos City Marathon, as much as 35 Gold, 13 Silver and 12 Bronze Labelled Runners have already registered to be part of the event.

Among many other big names, David Barmasai Tumo from Kenya who won the 2011 Dubai Marathon will be

competing at the 2019 Access Bank Lagos City Marathon.

Also, his compatriots, Jacob Kibet Chulyo, Moses Kigen Kipkosgei are in the mix for action as well as Samuel Gebremichael who now does his thing for Australia.

The female field also boasts of some of the top runners in the world including the likes of Agnes Jeruto Kiptocich who finished as runners up in the 2017 Paris Marathon.

Caroline Cheptanui Kilel winner of the 2011 Boston Marathon, as well as Georgina Rono and Risper Jemeli Kimayo, are all pencilled down to run at the Lagos Marathon.

Yusuf Alli, the General Manager for the Lagos Marathon, expressed delight at the interest being shown by the big names to run in Lagos and he is quite positive that a new course record will be set on Saturday.

Z E N I T H B A N K / D E LT A P R I N C I P A L S ’ C U P

SemifinalsTake Centre Stage in Warri,Agbor The semifinals of the 2019 Delta State Principals’ Cup football competition will take place today in two centres as the annual competition approaches its climax. The preliminaries of this edition of the tournament sponsored by Zenith Bank and organized for all secondary schools in the state started in October 2018.

Obule Integrated School, representing Sapele Local Government will confront Uwhelu Grammar School at the Warri Township Stadium.

Agbor Township Stadium

will host Comprehensive Secondary School and Boys Secondary School Obiaruku, in another last four stage contest.

To qualify for this stage, Comprehensive Secondary School defeated Owa Model Secondary School 6-1 at the Kwale Township Stadium in a one-sided encounter while Boys Secondary School also showed superiority over Orhuwhorun Secondary School in a tight match that ended 4-3 on penalties after full time score stood

at 1-1 at the Oleh Township Stadium.

High-flying Obule Integrated School at the Warri Township Stadium defeated Solid Rock secondary School 4-0 in a match the Sapele representative were dominant just as Uwheru Grammar School defeated Ekpan Secondary School 7-6 after penalty shootout in a keenly contested encounter at the Otujeremi Township Stadium.

According to the head of the organising team, Tony Pemu, the Warri encounter

few months,” Eitzen declared.

will kick-off at 1pm while that of Agbor will start at 2pm.

As part of preparation for the semis, a meeting of the organizing team took place yesterday at the office of the Director in the Ministry of Basic Secondary Schools.

Pemu noted that the sponsors, Zenith Bank, and the Governor Ifeanyi Okowa-led administration respectively charged the organizing team to ensure a true winner emerges from the competition which is in its third edition.

NPFL Rescheduled Match-day 1 Group A Wikki v Insurance Rangers v Tornadoes Rivers Utd v Remo Group B Yobe Stars v Gombe Utd Thursday Go Round v KADA City

The late former THISDAY sports correspondent Olajide Fashikun will be laid to rest today in his home town, Obbo Aiyegunle in Ekiti Local Government Area of Kwara State.

Aged 54, the former national handball star and administrator died after brief illness last Sunday at the Federal Medical Centre in Ubaka, Abuja.

According to Burial programme released by the FCT chapter of the Nigerian Union of Journalists, Fashikun will be buried at the Community Burial Ground in Obbo Aiyegunle.

A Service of Songs held yesterday evening at the Union’s secretariat at Utako before the body will begin the final journey home this morning.

Sports Minister, Solomon Dalung, NOC President, Habu Gummel and several national sports federation presidents were at the wake where glowing tributes were paid to the late journalists.

Also yesterday, a candle procession was organized in his memory by the Kwara State chapter of SWAN. A statement by the Secretary of the association in the state, Olayinka Owolewa said the association held procession in collaboration with the state owned media houses.

SWAN and NUJ members in Kwara dressed in black during the procession which began at the State library in Post office and terminated at the Herald newspaper along Offa Road, Ilorin where Fashikun worked as a sports editor.

A prayer session also held for the late multi-sports athlete, journalist cum administrator.

A powerful delegation of Kwara SWAN led by Alloy Chukwuemeka, a national officer of the association would be joining sympathisers across the country in Obbo Ayegunle for the burial today.

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FG Predicts Robust Outlook for Maritime Sector Eromosele Abiodun and Ugo Aliogo Despite the impact the likely outcome of the 2019 general election and global economic headwinds will have on the Nigerian economy, the federal government has projected a positive outlook for the maritime sector.

Specifically, it predicted growth of the total fleet size in 2019 over 2018, to be 10.33 per cent, easing to 8.75 per cent for 2020.

However, the government predicted that oil tanker fleet size would decrease by 11.2 per cent for and recover to a positive growth of 0.11 per cent by 2020.

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, who disclosed this in Lagos yesterday, while unveiling Nigeria’s Maritime Industry Forecast 2019-2020, said non-oil tanker fleet size is estimated to increase by 14.3 per cent in 2019 and 10.2 per cent in 2020,

while oil rig count is projected to increase by 6.98 per cent and 6.5 per cent for 2019 and 2020 respectively.

According to him, “the major drivers of total fleets calling at Nigeria Ports are Foreign Reserves and Total Trade from our Empirical Estimates.

The Baseline forecast is based on the 2018 outcome and 2019 Economic Recovery and Growth Plan (ERGP) forecast for total trade and foreign reserve.

“The pessimistic forecast is based on the assumption that total trade declines to N25.42 trillion in 2019 and N26.8 trillion in 2020, while foreign reserves is $43billion in 2019 and $59.3billion in 2020. “The optimistic forecast is based on the assumption that total trade will increase to N28.55 trillion in 2019 and N30.11 trillion in 2020, while foreign reserves is $44.7 billion in 2019 and $61.7 billion in 2020.

“The major drivers of Oil Tanker Fleets from our empirical estimates are Oil price and Foreign Reserves.

The baseline forecast was based on the 2018 outcome and 2019 expected for oil price and ERGP forecast for foreign reserve.

However, the pessimistic forecast was centred on the assumption that oil price would rise to $69.6 per barrel in 2019 and $72.6 per barrel in 2020, while the country’s foreign reserves would be $40.57 billion and $55.94 billion in 2019 and 2020, respectively.

Optimistic forecast assumed an oil price of $76.67 per barrel in 2019 and $80.02 per barrel in 2020, with Foreign Reserves of $50.11 billion in 2019 and $69.36 billion in 2020.”

He added, “Also, the major drivers of non-oil tanker fleets are total trade and foreign reserves .The baseline forecast is based on the 2018 outcome and 2019 ERGP forecast for total trade and foreign reserve. Pessimistic assumes that total trade declined by to N25.42 trillion in 2019 and N26.81trillion in 2020 whilst we anticipate a foreign reserve of $43billion in 2019 and $59.3billion in 2020.

“Optimistic forecast assumes that total trade increases to N28.55trillion in 2019 and N30.11trn in 2020 with a foreign reserve of $44.69 billion in 2019 and $61.74billion in 2020.

“Oil price and oil production is assumed to be the major drivers of oil rigs (land and offshore) in Nigeria. The Baseline forecast assumes that 2.3mbd (million barrel per day) and 2.4mbd of oil will be produced in 2019 and 2020 whereas Oil price will be $71.9 per barrel in 2019 and $75 per barrel in 2020. On the other hand, the pessimistic forecast assumes Oil production of 2.25mbd for 2019 and 2.35mbd 2020 and Oil Price of $67.44/ brl and $70.3/brl in 2019 and 2020 respectively. Our Optimistic scenario assumes 2.40mbd 2019 and 2.51mbd 2020 with an Oil

price of $81.75/brl in 2019 and $85.37/brl in 2020.”

He added that the Nigerian Maritime Industry forecast 2018 – 2019 predicted an 8.15 per cent to 8.72 per cent growth in demand for non-oil tankers and an upward increase in demand for container vessels simultaneously.

Nigeria, he stated, was going to export more non-oil-andgas-based cargoes over the next three years and with the expected completion of NLNG Train 7, which would be done in country by mostly Nigerian companies.

Allow Rule of Law to Prevail, Onaiyekan Tells Buhari Onyebuchi Ezigbo in Abuja The Archbishop of Abuja, Cardinal John Onaiyekan, has advised President Muhammadu Buhari to allow the rule of law prevail in the matter involving the Chief Justice of Nigeria (CJN), Walter Onnoghen.

Speaking with journalists in Abuja on the eve of his 75th birthday anniversary, the clergy said it is wrong for anyone to undermine the Constitution of Nigeria which is the basis of the Nigerian nation.

Onaiyekan while reacting to the suspension saga said: “One thing is certain, the action taken if you approve it or not has created a lot of bad blood, created a lot of dust in our political atmosphere.

“What I am trying to say is that something has happened that should not have happened at all. Let nobody tell me that the rule for removing a chief justice of the federation is not clear,” he said.

Onaiyekan said that the situation is giving the impression that Nigeria does not have a clear law, adding that this is not good for the country.

“If it is so unclear with the judiciary, what will happen to the legislature? Since the executive has the ownership of power including military power they obviously have an edge over the other two arms of government, but the entire system cannot stand unless the three are standing well.

“My hope is that with the amount of ingenuity Nigerians have and all these great legal luminaries in no time within the next week or so, we will arrive at some conclusion which will enable the country to move forward on this matter.

“But I think we should decide what our law says and we should hold everybody accountable to obey the law. Even President Muhammadu Buhari must follow the law,” he said.

Gbajabiamila: Senate Erred by Approaching Supreme Court without Lower Chamber Shola Oyeyipo in Abuja The Leader of the House of Representatives, Hon. Femi Gbajabiamila, has faulted the Senate’s decision to approach the Supreme Court for the interpretation of federal government’s resolve to suspend the Chief Justice of Nigeria (CJN), Justice Walter Onnoghen.

The Special Adviser to the Senate President, Bukola Saraki, Yusuph Olaniyonu, said the Senate has gone to the Supreme Court for interpretation of the constitution to determine whether President Muhammadu Buhari usurped the powers of the Senate or not in suspending Justice Onnoghen.

Quoting from Section 20 Cap. 424 Laws of the Federal Republic of Nigeria as amended, Gbajabiamila said the upper chamber of

the National Assembly erred by approaching the apex court alone and without carrying the lower chamber along.

Already, Senators of the All Progressives Congress (APC) have said there was no time that the Senate met and took the decision to approach the Supreme Court for an interpretation of the suspension of the CJN. He argued that the Senate does not have the legal capacity or locus to go it alone. By Supreme Court (Additional original jurisdiction) Act 2002, Gbajabiamila said “The National Assembly can only institute such an action after a resolution by both Houses to do so. I look forward to the court’s interpretation but first we must comply with the law. In the absence of such a resolution, the Supreme Court lacks jurisdiction.”

50 HEARTY CHEERS …

L-R: Mrs. Rita Ajumogobia; husband of cele brant and Publisher Abuja Inquiry Newspaper, Mr. Dan Akpovwa; celebrant, Mrs. Doris Akpovwa; and former Minister of Petroleum, Mr. Odein Ajumogobia (SAN) during 50th birthday party in honour of Doris held in Lagos...recently MUBO PETERS

ATIKU LISTS INFRACTION OF CONSTITUTION BY BUHARI “This action of President Muhammadu Buhari, not only breaches the Nigerian constitution, but has also managed to undermine presidential democracy by assaulting one of its hallowed doctrines of separation of Powers.

“For the records, Onnoghen is the head of one of the tripartite but mutually independent organs that form the government of the Federal Republic of Nigeria. To attempt to muscle out the Chief Justice of Nigeria, using phony charges at a time when His Lordship was primed to play a central role in the fast approaching nationwide electoral process represents the boldest steps in the march to undermine our democracy.

“Need I say, this brazen authoritarian and imperious stride of President Buhari is the latest action in a series of carefully planned onslaught on our nation’s hard earned democracy by an extremely power hungry and anxious president and the cabal that feeds fat around him as February 16, 2019 draws nearer.

“The fact that the unlawful suspension of Onnoghen was announced just as it became public knowledge that the CJN was about to constitute the election petition tribunals is not lost on discerning Nigerians and the international community.

“This act of desperation is geared towards affecting the outcome of the 2019 presidential election. Indeed, it is not just the CJN that has been suspended, it is the Nigerian constitution that has been infracted and, in effect, suspended, under the guise of the suspension

of the CJN.’’ Atiku further explained that the case involving the legality or otherwise of the charges against Onnoghen is in court, as it should be, saying so far, the judiciary has ruled in Justice Onnoghen’s favour and wondered why Buhari did not allow the court to adjudicate on the matter.

“Let me therefore take the opportunity of this letter to urge your country and all well-meaning members of the international community to mount pressure on this government and all its antidemocracy functionaries know that their actions will have consequences strong consequences”, the PDP presidential candidate urged the international community.

He stressed that in April 2018, Buhari approved the purchase of Tucano Aircrafts for the Nigerian military at the sum of $496 million without seeking prior approval of the National Assembly, contrary to Section 80 (3) and (4) of the 1999 Constitution (as amended), which states very clearly, how the President can spend monies belonging to the federation.

He said Section 80(3) states: “No money shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the Federation, except in the manner prescribed by the National Assembly. “(4) No monies shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the Federation, except in the manner prescribed by the National Assembly.”

Atiku added that Buhari administration has serially

violated court orders, going against the rule of law especially in three known cases, including that of former National Security Adviser (NSA), Col. Sambo Dasuki (rtd). He said that after various courts had granted him bail on at least six different occasions the Buhari-led government has persistently refused to comply with the court orders.

Also he said that the leader of the Islamic Movement of Nigeria, Ibrahim El-Zakzaky has been in detention without trial for over three years after his followers were massacred in broad daylight; his wife and family killed and his home burnt, in a gory and shameful show of brute force by the Nigerian Army.

Atiku said that on December 2, 2016, the Abuja Division of the Federal High Court presided

by Justice Kolawole ordered the release of El-Zakzaky and berated the Nigerian government for violating his rights, but the order has been blatantly disobeyed.

He explained further that the Nigerian government through the National Economic Council (NEC), again in contravention of Section 80 (3) and (4) of the 1999 Constitution (as amended), granted approval for the release of $1 billion from the Excess Crude Account (ECA), for the procurement of military hardware and other equipment to fight insecurity in the country, ahead of the 2019 General Elections without recourse to the National Assembly.

Atiku also lamented that the enactment of the controversial Executive Order No. 006, as an executive legislation, which permits security agencies to

freeze the assets of persons standing trial or undergoing investigation without recourse to court orders.

This, according to him, was a usurpation of legislative and judicial powers of the National Assembly and the judiciary as enshrined respectively under sections 4 and 6 of the Constitution of the Federal Republic of Nigeria and reminiscent of the military era of decrees.

Meanwhile, the Federal Ministry of Foreign Affairs has stated that the fact that some foreign governments are helping to fund Nigeria’s elections does not give them the right to make unguarded comments about the forthcoming elections.

The ministry said this in a statement, which was also directed at the United States, the United Kingdom and the European Union which have all faulted President Buhari’s decision to suspend Onnoghen.

The federal government said Nigeria was also funding the elections of some other African countries but had not used that as a basis to interfere in their elections.

The statement read in part, “It is insulting for any foreign representative to claim the right to interference in Nigeria’s internal affairs based on the premise that its government has invested heavily in the election.

“Nigeria has invested enormously, over the years, in election processes of many African countries and will continue to do so without interfering in their internal affairs. Interference in Nigeria’s internal affairs under any guise will therefore not be accepted.

WEDNESDAY JANUARY 30, 2019 ˾ T H I S D AY

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FG Adopts Three-year Humanitarian Plan for Lake Chad Basin UN, UNHCR seek $983m for IDPs Kasim Sumaina, Kuni Tyessi in Abuja The federal government has adopted the 2019 humanitarian response plan with a three-year strategy to curb the suffering of casualties and victims at the

Lake Chad basin.

Minister of Budget and National Planning, Senator Udoma Udo Udoma, who launched the strategic plan during the second regional protection dialogue for the Lake Chad basin and the

Military Kills 21 Bandits, Captures 17 Rescue 89 victims of kidnappers Kingsley Nwezeh in Abuja Troops of the Nigerian Army operating in the North-west killed 21 bandits and captured 17 while conducting clearance operations.

Bandits have been on the rampage in the area, leaving a trail of blood and destruction.

The bandits were killed by troops in Zamfara and Katsina States under ‘Operation Sharan Daji’. Troops also destroyed over 18 camps of the bandits and rescued 89 victims of kidnappers. “The casualty figures on the bandits’ side during this encounters is 21 bandits neutralised, while 17 were captured alive. Troops also destroyed some of their camps and rescued 89 kidnapped victims held in some of these camps.

“It is worthy to note that out of 89 freed kidnapped victims, 55 of them were held captives in Bukkuyum LGA in Zamfara

State. The freed captives who were mostly from local communities in Zamfara State were debriefed and reunited with their families.

“Similarly, two bandits’ informants, Musa Amadu, and Auwalu Mutairu, were arrested at Danfumi village in Birnin Magaji and are currently assisting troops with intelligence. “It is significant to inform the general public that 11 civilians and one vigilante were killed by bandits during the period in focus.

“It is also important to state that six persons were kidnapped at Asoula village in Tsafe LGA and not in Birnin Magaji”, an army statement said.

Items recovered from the bandits include a single barrel gun, two locally made pistols, 20 cartridges of double barrel bullets, 60 rounds of 7.62mm special, one AK 47 magazine containing18 rounds of 7.62mm special.

Madam Christiana Edenokun Omokhodion Passes on The death has been announced of Madam Christiana Edenokun Omokhodion (nee Ajobi) which occurred on January 6, 2019 in Benin City, Edo State. She was aged 91 years. Madam Christiana Omokhodion was born in 1927, into the family of Pa AikhuemobhogbeAjobi and hailed from the Idumunedigbon quarters of Idumebo-Ekpoma, in Esan West Local Government Area of Edo State.

Madam Omokhodion was a skilled seamstress and a famous food merchant in Benin City and was popularly known as ‘Iye Rosa’.

She began her marital life in Ibadan in 1947, where her husband worked in the Nigeria Tobacco Company (NTC), Ibadan and in 1957 settled in Benin City with her husband who had then become a staff of the famous Armels Transport Limited, Benin.

Madam Omokhodion was a known figure in both Agbado and New markets in Benin City in the 1950s and 1960s and thereafter established a food court on James Watt Road, Benin where she catered mainly to the food needs of staff, visitors and passengers of Armels Transport Company.

She passed away peacefully in her sleep having waited to witness the wedding ceremony of her beloved grand-daughter on January 3, 2019.

She is survived by four daughters and three sons, among whom are Mrs. Rosaline Okosun, a trader; Chief Lawson A. Omokhodion, Pro-Chancellor and Chairman, Governing Council, Ambrose Alli University, Ekpoma, and Hon. Bright E. Omokhodion, former Finance Commissioner and later Speaker of Edo State House of Assembly. She will be interned in Ujemen on Saturday February 9, 2019 after a funeral mass at St. Paul’s Catholic Church, Ujemen-Ekpoma.

Christiana Edenokun Omokhodion

launch for the humanitarian response strategy for north-east Nigeria and the Reginald refugee response plan, said the first year multi- year approach strategy will ensure that the north-east is well catered for, and for those affected by activities of the Boko Haram insurgents.

To this end, the United Nations (UN) and its counterpart, The United Nations High Commissioner for Refugees, (UNHCR) have disclosed that to achieve this feat, the sum of $983 million would be required for the continuity in the provision of food, water, shelter and protection.

UN Humanitarian Coordinator for Nigeria, Edward Kallon, in his speech, stated that humanitarian organisations in Nigeria are targeting 6.2 million people who have been hit the hardest by the crisis in Borno, Adamawa and Yobe states.

He added that although aid groups targeted almost the same number of people in 2018, this year’s budget is around $250 million less than the previous year, based on the assessed needs and realistic capacity to deliver aid.

He said: “We have saved millions of lives and as we strive to provide immediate response to

new and existing humanitarian needs, we must also focus on addressing the causes of such untold suffering.

“Humanitarian organisations in Nigeria are targeting 6.2 million people hardest-hit by the crisis in Borno, Adamawa and Yobe states in the country’s north-east.

“Although, aid groups targeted almost the same number of people in 2018, this year’s budget is around $250 million less than the previous year, based on the assessed needs and realistic capacity to deliver aid” he added.

Similarly, the, regional

representative of UNHCR, West Africa/Regional refugee Coordinator, Nigerian situation, Liz Kpam Ahua, disclosed that there are two responses for the crisis in the Lake Chad Basin.

She noted that the dialogue seeks to remind the government in the Lake Chad Basin of the principles of humanitarian action.

Lamenting about the situation in Lake Chad Basin, Ahua stated that two-and-half years after the 1st Regional Protection Dialogue, it is disheartening to report that the Lake Chad Basin continues to face a protection crisis here in Nigeria and across the neighboring countries.

Wike Says Buhari’s Neglect of Niger Delta will Work against Him PDP berates Lulu-Briggs over comments on infrastructure Rivers State Governor, Nyesom Ezenwo Wike, has decried the total neglect of the total neglect of the Niger Delta by the All Progressive Congress (APC) federal government under the leadership of President Muhammadu Buhari.

Speaking during the PDP campaign rally at Ahoada West Local Government Area at Akinima, Wike said Buhari through deliberate manipulation refused to fund major projects across the Niger Delta.

He said: “Even though the Niger Delta produces the wealth of the nation, there is no funding of projects in the area.

“Look at the East-West Road, no serious attempt has been made to fund the project. All other projects in the area have been abandoned. Instead, few projects are found in the North and South-west.”

He charged the people of Ahoada West Local Government Area to vote for Atiku Abubakar so as to address the developmental challenges of the Niger Delta region.

He said unlike the APC, the PDP is built on the fulfillment of promises and the enhancement of the welfare of the people.

“When PDP makes a promise, it goes ahead to fulfill the promise. Everywhere in Nigeria , people are voting for the PDP because they keep their promises,” he said. Commenting on the plot by the APC to disrupt the general elections in Rivers State, Governor Wike said that they lack the capacity to stop polls from holding in the state.

“APC cannot stop the elections from holding in Rivers State.

They think they have monopoly of violence. They are engaged in in-fighting and they should face the consequences of their disrespect for the rule of law.

“I call on the president to call members of his party in Rivers State to order. They should stop threatening us that there will be no elections. If there is no election in Rivers State, then there will be no election across the country”, he said.

Wike said that the APC will not be allowed to create cattle grazing routes in Rivers State.

On the claim by the factional governorship candidate of

Accord Party that projects cannot create jobs, Governor Wike noted that perpetual governorship aspirant does not understand the development process.

He said the factional governorship candidate of Accord Party couldn’t successfully

operate a dance club, hence he has no business contesting the position of a governor.

Rivers State PDP Chairman, Bro Felix Obuah said that the people are happy with the governor’s achievements in the area.

Meanwhile, the state Peoples Democratic Party (PDP) Campaign Council has dismissed the press conference organised by the Accord Party governorship candidate in the state Chief Dumo Lulu-Briggs as white wash and mere jamboree.

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Buhari Inaugurates Ariaria Market IPP, Extols Ikpeazu Omololu Ogunmade in Aba President Muhammadu Buhari yesterday in Aba, Abia State, inaugurated the new Ariaria Market Independent Power Project to boost business enterprises in the popular Ariaria Market, which exports products to various West African countries.

The market, which has 11 sections and over 37,000 shops, used to be powered by over 60,000 generators.

Funded by Ariaria Market Energy Solutions Ltd, the project is made up of independent gas-fired power plant, extensive distribution network and metering systems for each shop.

The market, which produces clothes, shoes, printing, tools’ fabrication and mechanical parts, is said to be receiving patrons in thousands every day.

Speaking during the inauguration of the project in Aba, President Buhari commended the Governor of Abia State, Okezie Ikpeazu, saying that without Ikpeazu’s commitment and cooperation, the federal government would not have actualised the project.

“I thank Your Excellency, Okezie Ikpeazu, Governor of Abia State, for your support to this project from the Federal Ministry of Power, Works and Housing.

Thanks for your cooperation; without your cooperation, our

work would not have been smooth.

“You have demonstrated that with the common good as our vision and objective, a lot can be achieved irrespective of our party differences and constitutional limitations.“Your Excellency has no political colour. I was elected for office on the convincing arguments that my party made about my commitment to security, developing the economy and fighting corruption.

“To all the traders, businessmen and women in this market, I say well done for contributing to national productivity and job creation. I am sure that now we are here you would experience better days and prosperity in this market in order to provide support to more businesses in pursuit of economic growth”, Buhari said.

Also, Minister of Power, Works and Housing, Mr. Babatunde Fashola, commended Governor Ikpeazu, saying, “Mr. President, There was one man who stood by us; he is Governor Ikpeazu.

All we needed was a phone call and he said ‘I would provide the land’, and he provided us this land. He promised to repair the Ariaria road, and he has done it.

“There was also another man who supported us, Engr. Barth Nnaji. So, I want to publicly acknowledge them for their sacrifice and it shows that if our

common good is a collective goal, politics means nothing.”

In his response, Ikpeazu said: “Today is perhaps one of the happiest days of my life since 2015. It became clear to us that our strategy to develop Abia has to take a bearing on two things; one the things that our people can do very well and, two, take advantage of the policies of the federal government. So, we decided to study the problems of Ariaria International market not only for being the hub of Trade and Commerce in the African sub region, but also because it is a center to the manufacturing of shoes and garments and all kinds of manufacturing of leather products.”

“The World Bank recognises Abia as the place that has over 200,000 people doing all kinds of things and we know that each and everyone of them multiplied we have nearly 1 million people doing all kinds of things and most of them are located around Ariaria Market here. So, we noticed that some of the major problems were dependent on energy, building stores; some of them apart from road infrastructure were power, market shares, while the other one was automation and, of course, I want to acknowledge the support and the presence of the Vice President whom you sent on two different occasions to undergo SME clinics.”

BoI Debunks Vote-buying with Trader Moni The Bank of Industry (BoI) has debunked allegations that the TraderMoni is being used to buy votes from beneficiaries, adding that many of the people who accessed the scheme are already repaying the loans.

Indeed, the bank noted that the recovered loans were being ploughed back into the system for further lending to willing beneficiaries.

TraderMoni is one of the products developed under the Government Enterprise and Empowerment Programme (GEEP) targeting petty traders who do not meet the more stringent starting requirements of BVN, bank accounts, market associations and cooperatives required for bigger MarketMoni loans.

The bank disclosed that it has recorded 1.2million new entrants into the formal financial system as new operators of bank accounts or mobile wallets under its Tradermoni scheme.

BoI said it has so far disbursed loans totaling N12billion to the 1.2 million beneficiaries of the GEEP.

Defending the TraderMoni scheme with regards to the proximity of the election, Executive Director, Micro Enterprises of BoI, Mrs. Toyin Adeniji, said GEEP was initiated in 2016 and first mobile loan was disbursed in 2017.

Commenting on loans repayment, she said the bank has set up a robust infrastructure to aid repayments and recovery of loans, adding that “GEEP loans can be repaid by walking into commercial banks and making payments over the counter, paying at local agents of our aggregators or our mobile representatives and by purchasing of GEEP vouchers in your marketplace and recharging your loans account through recharge cards.”

Adeniji, however, confirmed that the bank had also seen a high uptake in repayment since it commenced a push and provided a wide array of options for loans repayment.

She said membership of any political party or ownership of Permanent Voter Card (PVC) is not criterion for accessing TraderMoni loans.

“Under no circumstance is PVC or any political indication requested when applying for these loans. We give loans to all qualified Nigerians regardless of faith, gender, status or political leanings,” she said.

Adeniji explained that since the launch of the GEEP programme in 2016, it has recorded major strides in areas of access to finance as today, 1.5million Nigerians have received capital that was hitherto unavailable to them before now, stressing that the loans cover 2,600 markets and clusters across the 36 states of the country and FCT with over 4000 agents on ground.

She explained that the demography of beneficiaries showed that about 53 per cent of GEEP beneficiaries were women, while 46 per cent of other beneficiaries were below the age of 35.

Adeniyi added that the bank decided not to go through market leaders in the disbursement of the loans in order to ensure that anyone qualified got the loan and at the same time, remove layers of distortions and bureaucracies in the whole process.

Daria Media Hosts Election Reporting Workshop On a mission to promote ethical journalism in Nigeria and to ensure credible coverage of the 2019 general elections, Daria Media with the support of the Macarthur Foundation hosted a two- day media election training programme for 10 leading Political Editors in Lagos.

The training which focused on effective ethical coverage of the forthcoming elections was facilitated by consultants from The Thomson Foundation and was supported by the Nigeria Guild of Editors.

In attendance were 10 political editors from 10 media houses

across the country.

Participating Editors were from The Punch, The Guardian, ThisDay, New Telegraph, The Vanguard, The Sun, Nigerian Info FM, The Cable, Radio Nigeria and Daily Trust.

The two- day training provided an opportunity for political editors to come together to discuss the potential approaches to the challenges of election reporting with focus on balance, objectivity and impartiality of election reporting.

The Editors focus on ethical solutions to the problems of covering elections in Nigeria culminated in the creation of

a voluntary, bespoke charter of election coverage and guidance on best practices to help ensure adherence to the rules and to win back public trust. The training also created an opportunity to explore the range of options designed to assist in online newsgathering and social media, avoiding traps, verification and improving coverage.

At the end of the workshop, the political editors freely adopted an election charter for journalists in Nigeria which sets the threshold of fundamental values by which the media can be judged.

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5 ) * 4 % ": t WEDNESDAY, JANUARY 30, 2019

5 ) * 4 % ": t WEDNESDAY, JANUARY 30, 2019

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