Why Buhari didn't make assets public-AIDES by Vanguard Media Limited

...towards a better life for the people

VOL. 25: NO. 62417

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MONDAY, JUNE 1, 2015

Why Buhari didn't make assets public—AIDES •Say the president will declare his assests publicly within 100 days •PDP, Sagay, Falana, Fawehinmi, Ngige, Ajulo, others react •Buhari appoints Femi Adesina, Garba Shehu media aides 54

69 burnt to death in Onitsha petrol tanker fire 7 EFCC nabs 6 CBN officials, 16 others over N80bn currency fraud 9

AGOS—AIDES of P r e s i d e n t Muhammadu Buhari, yesterday, explained why the president did not declare his assets publicly. They said he will make his assets known to Nigerians within the first 100 days of his stay in power in line with his assertions before the election. Meanwhile, there were mixed reactions, yesterday, on the report that the president and Vice-President Yemi Osinbajo had submitted

THANKSGIVING—Vice President Yemi Osinbajo and his wife, Dolapo in a group photograph

with children after first time as Vice President at the Aso Villa Chapel, State House, Abuja, yesterday. Photo: Abayomi Adeshida.

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Continues on Page 5

Buhari takes war against Boko Haram to Niger Republic 9

Mr & Mrs THANKSGIVING—Delta State Governor, Arthur Ifeanyi Okowa (left); his wife, Dame Edith (second left); deputy governor, Kingsley Otuaro (second right) and his wife, Ebi, during an interdenominational thanksgiving service for the newly sworn-in governor of Delta State at St Philip's Anglican Church, Asaba. Photo:Nath Onojake.

COLUMNISTS: A nation's collapse and revival •P.20

By Abdulwahab Abdulah,Dapo Akinrefon, Charles Kumolu, Gbenga Oke & Levinus Nwabughiogu

Old wine in new skin? •P.19

Buhari vs a clueless MPC? •P.44

AfDB: Adesina thanks Nigerians, African countries for roles in election 14

2—Vanguard, MONDAY, JUNE 1, 2015

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4—Vanguard, MONDAY, JUNE 1, 2015

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POCKET CARTOON

government. This will also follow the best practice set by former President Umaru Yar’Adua, boost this government’s fight against corruption and impunity of perpetrators, and fully comply with the provisions of chapter two of the dealing with Fundamental Objectives and Directive Principles of State Policy, which among others require the government to take steps to eradicate corrupt practices and the abuse of power”, SERAP stated.

We’ll answer him blackmail or stampede Conduct Bureau to get President Buhari into later —PDP the information they need VISIT—Executive Director, Editorial Matters, News Agency Of Nigeria (NAN) Malam Lawal Ado (R), welcoming the Executive Director, UNFPA, Dr Babatunde Osotimehin, during his visit to the agency in Abuja, yesterday. With them are, UNFPA Country Representative in Nigeria, Mrs Ratidzai Ndlovu (2nd R) and Assistant Editor-in-Chief/UNFPA Focal NAN Officer, Muhammad Tola. Photo: NAN.

Why Buhari didn't make assets public—AIDES Continues from Page 1 their assets declaration to the Code of Conduct Bureau without immediately making them public. A civil rights group, Socio-Economic Rights and Accountability Project, SERAP, argued that it was imperative for the duo to make public their assets. It said the action will indicate “their desire and commitment to ending corruption in the country.” The Peoples Democratic Party, PDP, on its part, said it would allow Buhari to settle down for governance before taking him to task on his campaign promises. However, some notable Nigerians disagreed over call for the public declaration of assets by the president and his vice president. Among those who expressed divergent

views were constitutional lawyer, Professor Itse Sagay, SAN; Chief Emeka Ngige, SAN; rights crusader, Mr Femi Falana, SAN; Mr Kayode Ajulo; Second Republic lawmaker, Dr. Junaid Mohammed and rights activist, Mr Mohammed Fawehinmi. A close associate of the president, however, debunked criticisms on the issue saying, yesterday, that the president still has 97 days within which to make his assets public as he promised during the campaigns. President Buhari had in a document on his plan of action within the first 100 days of assumption of office as president promised to make his assets declaration public and influence his appointees to do the same. “In the document the

TAKE HEART BY ELLA RANDLE

Happiness cannot be travelled to, owned, earned or worn. It is the spiritual experience of living every minute with love grace and gratitude — Denis Waitley

ISCOVER what motivates you to take better action in life. Think back to what has inspired you to make changes in your life and pursue your goals. Knowing why you do what you do is vital to your current motivation and passion. Is your incentive financial gain? Is it self-preservation or stability? Having clear incentives can instantly shift your attitude to a positive one. When you can motivate yourself toward a goal, your attitude becomes infused with your inner power, enthusiasm and passion. Your outlook on life is elevated. You walk faster and taller, smile more and carry a posture of selfassuredness, all of which draws even more success your way. The more deeply you believe a goal will come to pass, the more likely it will be. This type of mental practice keeps your attitude positive and directed toward attainment of success.

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president said what he would do within the first 100 days and among them was that he would declare his assets publicly in the first 100 days. How many hours has he been in office? How many days after his inauguration? “I think that the president should be given the benefit of the doubt. It is only three days since he came to office. Does he not deserve the benefit of the balance of the 96 remaining days? I think he deserves commendations”, the source close to the president said on the basis of anonymity.

He should declare assets publicly now— SERAP

Reacting to the development, yesterday, SERAP, in a statement by its Executive Director, Mr Tokunbo Mumuni, said: “We recall that the President had said before the election that he would publicly declare his assets and liabilities, and encourage all his appointees to publicly declare their assets and liabilities as a precondition for appointment. We now expect the President to fulfil this promise to the Nigerian people. SERAP trusts that the President and Vice President will move swiftly to publicly declare their assets and to publish widely the information on a dedicated website. “Public disclosure of assets will give the general public a true picture of the assets of the President and Vice President and will send a powerful message that it is not going to be business as usual with this

In its reaction, the PDP said that it would respond to the issue in due season. Speaking with Vanguard, PDP National Publicity Secretary, Chief Olisa Metuh said that the party would allow Buhari settle down for governance, and then come up with very strong opposition. Metuh said: “We will allow President Muhammadu Buhari to settle down and address the promises made to Nigerians; we will talk on asset declaration later.”

That is where credibility starts —Sagay

Constitutional lawyer, Professor Itse Sagay, SAN, said it was compulsory for the president and his vice to declare their assets publicly saying, “that is where credibility starts”. Sagay said: “I have no doubt that he will make it public because that is where credibility starts. That is where Jonathan started losing credibility. The late Umar Yar’Adua forced him to declare his assets in 2007, reluctantly, he did it. But when he was his own man, he said he does not give a damn and that is where he started sliding down. So, Buhari has no choice, it is absolute for himself and Osinbajo if change and credibility are going to be sustained. There is no other way out, so I expect in the next 24 hours or so that we would know what their assets are. He should apply it to every other appointee of his regime, not just himself and Osinbajo, it is compulsory and absolute.”

President and his vice didn’t err —Ngige

Chief Emeka Ngige, SAN, argued that the president and his vice did not err in the declaration of their assets. Ngige said: “There is nothing wrong in what the President and his vice have done. Anyone who is not satisfied with that should go to the Code of

on the declaration. If the Code of Conduct refuses, they can invoke the Freedom of Information Act. When President Yar ’Adua did his declaration, he asked the code of conduct to make it public. “Yar’Adua did not make his declaration public. People should desist from making noise about it because the President and his vice did the right thing. Getting information about the contents of the declaration should be done accordingly through the code of conduct and if it refuses, people can approach the court and the court can order the code of conduct to make it public.”

Let’s wait for the 100 days—Falana

On his part, rights crusader, Mr Femi Falana, SAN, opined that “these men just took oath of office two days ago and they declared their assets officially as required by law which stipulates 90 days. Meanwhile, they’ve promised to declare their assets publicly within 100 days. I hope it is better we wait for the 100 days.”

The courts should decide—Ajulo

A lawyer, Mr Kayode Ajulo said the courts should be allowed to make a pronouncement on the matter. Ajulo said: “All I know is that we Nigerians just want to be intellectually lazy. It is so clear that Buhari declared his assets, there is no fuzz about anyone declaring his assets or not. When it comes to the declaration of assets under Code of Conduct law, you have to swear to an affidavit, that affidavit is pursuant to an old act, it is called the law of federation. In that act, any oath you are making in Nigeria, it is a public declaration.

Buhari should not be stampeded — Mohammed

Second Republic lawmaker, Dr. Junaid Mohammed maintained that Nigerians should not

declaring his assets publicly. His words: “Nigerians must learn to live by what our rules and regulations say when issues like this come up. No democracy without rule of law and Buhari has done what he is supposed to do within the confines of the law”. Mohammed added that “ without sounding irrational, I can personally state everything owned by Buhari. We have to be realistic and it is sheer nonsense when you are trying to tell a man what he already knows or what he is supposed to do. But no one should stampede him in publicly doing it the Yar’Adua way. I don’t mind him declaring publicly but I will oppose anybody trying to stampede him into doing what our law clearly states which he had already done”.

Code of Conduct should make it public—Fawehinmi

IN his remarks, rights activist, Mr Mohammed Fawehinmi, said it was the duty of the Code of Conduct Bureau to make the declaration public. Fawehinmi said: “They have done what is required by law by declaring their assets officially; it is now the duty of the Code of Conduct to publish it. However, it becomes an obligation on Buhari and Osinbajo to publish their assets publicly as contained in their electoral promises. This will be the beginning of the fulfilment of their promises to Nigerians.” Human rights activist, and Senior Advocate of Nigeria, SAN, Chief Mike Ozekhome in his reaction, urged Buhari to declare his assets publicly in conformity with his campaign promises of breaking away from the old order. Ozekhome in a telephone chat with Vanguard in Abuja reminded Buhari that Nigerians now have a long memory and would watch him closely. He said: “I think

6—Vanguard, MONDAY, JUNE 1, 2015

OKADA THEFT SPECIALISTS:

Herbalist, 5 other suspects arrested By Dayo Johnson

KURE—A herbalist Rasaki Oyeyemi, a suspected ring leader of motorcycle snatchers in Ore commercial town, Ondo State, Tunde Adeyemi, and five others have been arrested by police detectives in the state. The suspects, according to police detectives, have been on their wanted list for some time before they were picked up, following intelligence report. Vanguard gathered that Tunde was arrested in his hideout at Asewele Korode, via Ore, by a team of detectives. Five other suspects apprehended in the hideout with him include John Patrick of Majidun, Ikorodu, Lagos State and Adebayo Abiodun of Idobi Ijebu Ode, Ogun State Others are Azeez Odunayo and Ohoya Ojo both of Asewele Korode, and Kunle Robert of Ajegunle Street, Ondo. The herbalist, Rasaki, is their “spiritual backer,” who they consult before embarking on any of missions. Police source said Rasaki had confessed that one of the suspects contacted him to be part of the gang and be supporting them “spiritually.” The source said some stolen registered and unregistered motorcycles were recovered from the suspects. Vanguard learned that the suspects' mode of operation include robbing owners of the motorcycles after luring them to a lonely place late at night under the guise of chartering them for a mouth watering fares. It was also learned that the gang also go to ceremonies and steal motorcycles parked by owners. Contacted police image maker, DSP Wole Ogodo, said the alleged kingpin of the gan, Tunde Adeyemi, had made confessional statements on activities of his gang. He added that investigation was in progress to recover the stolen motorcycles. C M Y K

We dismantle stolen cars, sell to spare parts dealers— SUSPECT By Esther Onyegbula

AGOS—OPERATIVES of the Special Anti-Robbery Squad, SARS, Lagos State Police Command, have arrested a member of a four-man armed robbery gang, which specialises in snatching vehicles at gunpoint in Lagos and its environs. The police also recovered two unregistered vehicles, a Toyota Camry and a Sienna, as well as an AK-47 rifle and 73 rounds of live ammunition loaded in six magazines. Vanguard gathered that the stolen vehicles were dismantled and sold to spare parts dealers in Lagos and Port Harcourt. One of the suspects, 29-yearold Donatus Okike, recounted his exploits: “I am a member of the four-man armed robbery gang that specialised in snatching exotic cars and dismantling them as motor spare parts, which we sell in spare parts markets here in Lagos or Port Harcourt. The names of the other gang members are Nonso, Consider and Segun. “Last year December 16, we snatched Toyota Camry at Igando, a suburb of Lagos. We sold the Toyota Camry to one Lucky Oboh, a commercial bus driver at Igando, for N700,000 but he paid only N300,000.

Operations

“We usually remove the number plates when we want to sell the vehicle to make people believe they are Tokunbo cars. “I am a truck driver and my route is Mile II to Seme border and sometimes from Ogba to Idiroko in Ogun State. I live at Ogba. I am from Onueke village in Ohaozara Local Government Area of Ebonyi State. “I came to Lagos in 2005 and was staying with my uncle at Maryland. I became a truck driver in 2009. The truck is owned by Ogbonna Okorie, who works in the place they load rice at Seme. “It was my friend, known as Consider that introduced me into armed robbery. The first Toyota Camry he asked me to help drive to Benin was sold for N600,000 and he gave me N50,000. “The second car, a Sienna, which I took to Port Harcourt, was sold at N700,000 and I collected N300,000. “The third one, Toyota Camry, which I drove to Badagry area, was also sold. Bought we did not collect any dime because I did not know the misunderstanding they had with my gang leader, Segun.

zSays he's expecting a rescue miracle from God The fourth vehicle is a Sienna car. “It caught fire on the road, as we were going to Port Harcourt to deliver it to a buyer. My role is to drive any snatched car to the buyer. It is our gang leader that carries and operate the gang’s AK-47.

Turns religious

“I became a Muslim in SARS cell. I love the way Muslim pray five times a day, while Christians pray only two times daily. Our Chief Imam in the cell asked us to have faith in God and he will set us free one day and we will give testimony and stop robbing or snatching vehicles. “I am expecting a miracle from God to rescue me. Staying in SARS cell also helped me to stop smoking Indian hemp. I used the money I got from robbery to treat my sick mother. I do not have a lover. “Each time I am stressed up, I patronise prostitute at the New Generation Hotel. Usually, I spend N2,000 for short time. I pay a thousand naira for the hotel room and a thousand naira fee to the prostitute.”

Donatus Okike

Bauchi road accident kills 13, injures 5 zPolice identify 10 victims, urge public to come, search for relatives By Suzan Edeh

AUCHI—A head-oncollision between a Blue Toyota Hiace bus and a truck along Bulkachukwa and Danbam road axis at Busuri village in Katagum Local Government Area of Bauchi State on Saturday night claimed the lives of 13 persons, including the driver. Five others sustained injuries in the accident, which involved the Hiace with number plates AQ 79 AKR, ONDO, driven by one 28-year-old Sule Abubakar, and the truck, marked XB 907 GWL, KANO. The state Police Public Relations Officer, DSP Haruna Mohammed, who confirmed the accident to newsmen in Bauchi, said both vehicles, coming from opposite directions, suddenly collided. The PPRO gave the names of 10 victims of the crash to include Sule Abubakar (driver of the bus), Buba Shuaibu, aged 30, from Doleri village; Ibrahim Mohammed, 25 years, from Busuri village; Yusuf Busuri, 17 years, from Busuri; Sadik Bello, 20, from Busuri. Others are Yahai Suleiman,

30, from Busuri village; Hudu Isah, 30, from Kafinta village; Haruna Yusuf, 15, from Busuri; Sale Waziri, 50, from Busuri and Yahai Manini, 40, from Busuri village. He said a patrol team attached to Azare Division rushed to the scene and evacuated all the victims to the

Federal Medical Centre, Azare. Mohammed said two corpses were yet to be identified, adding that efforts are on to contact the affected families of the victims. The PPRO called on members of the public, whose relatives travelled, to check the Federal Medical Centre in Azare for identification.

Police arrest suspected rapists of 6-year-old By Simon Ebegbulem

ENIN—POLICE in Benin have arrested two of the three persons alleged to have raped a 6-year-old girl at a primary school in the city. Police at Aideyan disclosed that they were on the trail of one of the suspects, while the two arrested suspects were currently in detention. The incident occurred last week and the family of the victim appealed to the police and the state government to arrest the suspects after they fled their homes. Mother of the victim, who

identified herself as Magdalene, told Vanguard at the Aideyan Police Station that the daughter complained of severe pains in her private part, adding that it was on interrogation that it was discovered that some persons had raped her. She said: “I want to thank the police for arresting the suspects. Though one is still on the run, I have confidence in the police. “What they did to my daughter, a six-year-old child, is wicked and evil. I want justice to be done; they should be punished accordingly.”

Vanguard, FRIDAY, JUNE 1, 2015—7

69 burnt to death in Onitsha petrol tanker accident zGovernor Obiano weeps By Chimaobi Nwaiwu

NEWI—NO fewer than 69 persons were burnt to death last night as a petrolladen tanker, descending from Army Barracks side of OnitshaEnugu Expressway, lost control, rammed into the Asaba Motor Park at Upper Iweka, Onitsha, and exploded. Eleven vehicles, mostly commuter buses and two motorcycles inside Asaba Park, and the fuel tanker were completely burnt to ashes. Governor Willie Obiano of Anambra State and one of his commissioners wept when they visited the scene of the accident. The governor told relatives of the victims to take heart and promised that the state would help in ensuring that those who survived were well taken care of. The Nigerian Red Cross Society officials were the first to arrive the scene of the incident. The society's Chairman, Professor Peter Kathy, said: “Presently, we have 69 people burnt to death and 30 casualties. “The dead have been evacuated to various mortuaries in Onitsha. “The tanker driver lost his break while descending the hill from Boromeo and Army Barracks end of the OnitshaEnugu Expressway towards

Upper Iweka. “Instead of looking for a wide gutter to break his speed, he veered into a park, where commercial vehicles were taking on passengers. Most of the people that died were inside vehicles in the park. “If the driver of the tanker were alive, he would have been

arraigned in the court because it is multiple murder. He was reckless. He knew he was fully loaded with petrol and yet he decided to direct his vehicle into a motor park. “He does not care for human lives. How can you veer into a park where you know buses were filled with people, when

Rescue operation

When Vanguard visited the scene at about 5.30pm, all the Divisional Police Officers in Onitsha, including Rabiu Garba of Fegge Police Station; Emeka Ugwu of Okpoko Police Sta-

tion and Cosmas Eze of Inland Town Police Station, and their Central Police Station, Onitsha, counterpart, Isah Abubakar, were involved in rescue operation. Men of the Federal Road Safety Commission, FRSC, and Willie Work Force were also on ground.

The carnage.

Dismissed Army officer nabbed for robbery, impersonation By Esther Onyegbula

AGOS—POLICE in Lagos have arrested a member of a suspected robbery gang that usually wore military Edo State Coordinator of Child Protection Network, Jennifer Ero, described child defilement as man’s inhumanity to man and called on the police and concern authorities to ensure the victim got justice. She said: “Three of them connived and forcefully raped and defiled a child of six years old. Right now, they have arrested two of them and they are at Aideyan police station while the third person absconded. The worst of it all is that the woman that is affected with her daughter are being intimidated by the authorities of the school where the crime took place. “Because she owns a shop there, they are threatening to eject her because she went to the public with what happened.”

the road is wide enough for you to control your vehicle?”

Adokie Tombra. camouflage while robbing unsuspecting private and commercial vehicles trapped in traffic around Mile 2, Festac,

Alakija and its environs. Police sources said it was discovered that the suspect was a dismissed soldier. He was said to have been dismissed from the Nigerian Army over unethical conduct. The 43-year-old suspect, identified as Adokie Tombra, revealed that he wore Army camouflage to evade paying fare each time he boarded commercial vehicles. Vanguard gathered that Tombra was apprehended by policemen attached to Festac Division, in full Military regalia, while members of his gang were attempting to escape after a robbery operation. During interrogation, Tombra reportedly said: “I resigned from the Nigerian Army several years back. Usually, I wear this Nigeria Army camouflage every time I am going out so I will not pay fare.” Confirming the arrest, Police Public Relations Officer, Kenneth Nwosu, a Deputy Superintendent of Police, said the suspect was still in police custody and would soon be arraigned in court.

APGA condemns attack on journalist at Al-Makura's inauguration

Suspected party thugs manhandling Hir Joseph.

By Abel Daniel

AFIA—ALL Progressives Grand Alliance, APGA, has condemned the brutal attack on a Daily Trust reporter by thugs during the swearing-in of Governor Tanko Al-Makura at Lafia square, venue of the event. However, in his reaction, Chief Press Secretary to the governor, Mr. Yakubu Lamai, said the thugs were obviously not comfortable with a story the reporter did about their activities. He dismissed insinuations that the governor was aware of

what transpired at the venue for his swearing-in. APGA, in a statement in Lafia by the Campaign Director, Emmanuel Yero, read: “Nasarawa State has received with shock the news of a vicious attack on the state correspondent of Daily Trust newspaper, Hir Joseph, at Lafia Square. “The attack happened when APC thugs brutally descended on the journalist, who they accused of writing unfavourable stories against Governor AlMakura and APC.” APGA also alleged that four other correspondents were under similar threats as Joseph.

8—Vanguard, MONDAY, JUNE 1, 2015

Fuel subsidy: Failure of a 42-year-old price fixing policy (4) By Emeka Anaeto, Economy Editor

s the new president, Mohammadu Buhari settles into office today, it is clearly evident that one of the most urgent (may not necessarily be most important) task before him would the optimal decision on the lingering fuel crises (supply or pricing crises) which ironically welcomed him to office while bidding good (or bad) by to the former president Goodluck Jonathan last weekend. With a flurry of arguments in the public media over the challenges of fuel crises concentrating on one dominant issue, subsidy, our series on this issue in today’s edition is taking a close look at the histonomics or (historical economics) side of the discuss on subsidy. For clarity of thought, we have always noted that definition or usage of the word subsidy presupposes that the price paid by the final consumer of the product is less than the actual cost of delivering the product to the consumer, and in this instance the government pays the difference. So the argument is now focusing on the efficacy of this subsidy logic: should there be any subsidy at all, if any and is it sustainable given our experiences so far back in history? From the available data, it is rather amazing that Nigerian economy and the society have lived under this argument for 42 years since price adjustments in the fuel products began in 1973. What is most baffling is that no new arguments have emerged beyond the regular dynamics of the Nigerian economy. A cursory look at the history shows that fuel price has always been regulated by government, that means the market (that is forces of demand and supply) had never dictated the price of petroleum product in Nigeria. This means the prices are fixed, adjusted and managed by the government over the years while changing it with attendant socioeconomic dislocations. A total of 25 such tinkerings with the price has been made in the 42-year history and none of them has solved the problem for which the tinkering was made. Out of the 25 experiments seven were for downward adjustments of the prices while 18 were upwards. One other salient feature of the downward adjustments was that each of the six was followed by an upward adjustment at a rate far higher than the downwards, giving the impression of dishonesty in the benevolence. For instance, General Sani Abacha effected the first downwards adjustment (amazingly, he did it twice within five years) from N5 in Nov 22, 1993 to N3.25k (about 35 per cent reduction) only to jerk it up a year later from N3.25k to N15 (over 370 per cent increase). C M Y K

•All former Heads of State /Presidents that fixed feul prices. This has been the pattern over the years. Also, out of the 18 upward adjustments only two came without major impact on socioeconomic life of Nigerians, but the other 16 were accompanied by inflationary pressures, 13 came with public unrest and several people dying in some of the incidents. Most economics have argued that the inflationary impact of upward adjustments in petroleum products prices is not as important a factor as the advantages or accretion to gross domestic product (GDP) which the extra government revenue should yield to the economy arising from judicious use in infrastructure and other public investments. Historically, the issue of judicious use of extra revenue from increased petroleum products prices has always been negative from 1973 when General Yakubu Gowon increased the price from 6kobo to 8.45kobo. His government had then said they needed the extra revenue to fund the Fourth National Development Plan. Surprisingly two developments on the heels of this adjustment put a big question

Out of the 18 upward adjustments only two came without major impact on socio-economic life of Nigerians, but the other 16 were accompanied by inflationary pressures, 13 came with public unrest and several people dying in some of the incidents

mark on the veracity of the reason given for the price hike. First the price hike came with positive developments in the international price of crude oil which yielded revenue to the government far more than was required for the Plan. Secondly while investments were actually made in import substitution industrialization, the economy began to witness over dependence on finished product imports. From then till 2012 when then president Goodluck Jonathan’s price hike introduced SURE-P as a cushioning to the Nigerian publics suffering from the effects of fuel price hike, no meaningful economic returns on investments from the extra revenue have been recorded. Many observers have noted that it has always been ‘more money for the boys’. It has always been long-drawn battles getting the governments both at federal, states and local levels to increase their workers’ salaries in line with the inflationary and or higher cost of living impact on them since t h e governments are the primary beneficiaries of the price hikes. Only in seven out of the 19 instances of the price hikes have the v a r i o u s governments implemented u p w a r d adjustments in salaries of workers. Even at that, most economics would insist that such salary increases are just cosmetic in addressing the real economic impact of tinkering with petroleum

Year

1973 1976 1978 1982 1986 1988 1989 1991 1993 1993 1994 1994 1998 1999 2000 2000 2002 2003 2004 2004 2007 2007 2012 2012 2014

•President Buhari products prices as the salary increases also ignite its own round of inflation, thus wiping out the benefits in the real terms and even on less than medium term. With the price of fuel much cheaper in Nigeria than in neighbouring countries, the subsidy had led to widespread smuggling on almost all instances of the price adjustments, and usually worse when the prices are adjusted downwards over the years. Nigerians are heavy users of fuel, not just for cars but to power generators that many

Head of State/ President

Gen. Yakubu Gowan Gen. Murtala Mohammed Gen. Olusegun Obasanjo Shehu Shagari Gen. Ibrahim Babangida ,, ,, ,, ,, ,, ,, ,, ,, ,, Ernest Shonekan Gen. Sani Abacha ,, ,, ,, ,, ,, ,, Gen. Abdulsalam Abubakar ,, ,, ,, Olusegun Obasanjo ,, ,, ,, ,, ,, ,, ,, ,, ,, ,, ,, ,, Umaru Yar’Adua Goodluck Jonathan ,, ,, ,, ,,

households and businesses use to cope with the country’s erratic electricity supply. With the fast rise in population and economic activities over the 42-year history of the price adjustments, it has been noted by the various governments that the cost of subsidy on government’s revenue was equally rising fast, if not faster, thus reducing government’s ability to provide other services to the population. Former finance minister, Dr. Ngozi Okonjo-Iweala, as well as former central bank governor Lamido Sanusi have long argued that removing the subsidy would free up money to invest in other sectors and relieve poverty. The gap between the rich and the poor has been widening since the government’s subsidy policy started 42 years ago, even though it was designed to mitigate income inequality. The gap is now so huge to the extent that it was recently confirmed that less than 6 per cent of bank depositors own 88 per cent of all bank deposits in Nigeria. The remaining 94 per cent of depositors, mainly the working people and poor, own about 12 per cent of bank deposits in Nigeria. In fact, it is believed that the subsidy has actually moved more public resources away from the general public to a few who are involved in petroleum products importation. In 1978, the government of General Olusegun Obasanjo while justifying fuel price increase from 9 kobo to 15.3 kobo claimed there was still subsidy after the increase and today at N87 the government still say there is about 60 per cent subsidy. When will there be no subsidy? There is no end in sight. What has been changing since the late 70s till date has been the value of the Naira. The value of the Naira has massively depreciated since the mid 80s till date. As at 2012, when the last increment in petrol prices took place the value of the naira was about N118 to the dollar; it is now at about N199 at the official market rate and much more at the black market. And the rates would likely get worse with the structure of the economy. With each devaluation the subsidy gap widens, forcing the government to either consider further increase in pump prices or reduce its other public goods. Head or tail, the general public has always been at the losing end in the subsidy history.

Price Adjustment

6 Kobo – 8.45 Kobo 8.45 Kobo – 9 Kobo 9 Kobo – 15.3 Kobo 15.3 Kobo – 20 Kobo 20 Kobo – 39.5 Kobo 39.5 Kobo – 42 Kobo 42 Kobo – 60 Kobo 60 Kobo – 70 Kobo 70 Kobo – N5 N5 – N3.25 N3.25 – N15 N15 – N11 N11 – N25 N25 – N20 N20 – N30 N30 – N22 N22 – N26 N26 – N42 N42 – N50 N50 – N65 N65 – N75 N75 – N65 N65 – N141 N141 – N97 N97 – N87

Increase/ Decrease

Increase ,, ,, ,, ,, ,, ,, ,, ,, Decrease Increase Decrease Increase Decrease Increase Decrease Increase ,, ,, ,, ,, Decrease Increase Decrease ,,

Vanguard, MONDAY, JUNE 1, 2015—9

EFCC nabs 6 CBN officials, 16 other bankers over N8bn fraud zTo arraigns suspects in Ibadan tomorrow By Soni Daniel, Regional Editor, North

BUJA — SIX top officials of Central Bank of Nigeria, CBN, and 16 other workers of commercial banks in the country have been arrested by the Economic and Financial Crimes Commission, EFCC, for a mega scam involving N8 billion. The suspects were picked up by operatives of the anti-graft agency for stealing and putting into circulation defaced and mutilated Nigerian currency notes to the tune of N8 billion meant for destruction. All the suspects have already been taken into EFCC custody preparatory to their arraignment at the Federal High Court, Ibadan, tomorrow. The trial will run till June 4 in a bid to speed up the prosecution of the suspects by the court. A statement signed by the Head of Media of the EFCC, Mr. WilsonUwujaren, gave the names of the suspects as: Patience Okoro Eye (Abuja), Afolabi Olufemi (Lagos), Kolawole Babalola (Ibadan), Olaniran Muniru Adeola (Ibadan), Fatai Yusuf, Adekunle (Head, Security, CBN (Ibadan) and Ilori Adekunle Sunday (Akure).

Burned old newspapers in place of defaced Naira notes

The 16 suspects, who colluded with the CBN officials to commit the fraud, are officials drawn from Zenith Bank, FCMB, Wema Bank, Access Bank, FirstBank, Skye Bank, Ecobank and Sterling Bank. The officials helped themselves with the mutilated N8 billion cash and burned old newspapers in place of the defaced Naira notes, thereby making a mockery of the CBN rule relating to such money. But the suspects ran out of luck when one of the bank officials petitioned the EFCC, alleging on November 3, 2014 that over N6,575,549, 370 was cornered and discreetly recycled by lightfingered top executives of the CBN at the Ibadan branch. The suspects, who were members of the Briquetting Panel, which handles the destruction of defaced notes from commercial banks, decided to play a fast one on the nation and smile to their banks but ran into a trouble yesterday. In banking parlance, Briquetting is disintegration and destruction of counted and audited dirty notes. By this practice, depositor banks usually take mutilated notes to the CBN in exchange for fresh notes equivalent of the amount deposited.

What Briquetting panel discovered C M Y K

exercise. She added that she confronted the other members of the panel, including Eye, Head, Briquetting Panel; Treasury Assistant; Coordinator and Head, Security, CBN, Ibadan, they merely assured her that they would look into it but did nothing about it months after. She said she later found out that Eye not only maintained sealed lips over the matter but omitted it from her report. A five count charge awaits the suspects as they prepare to face the wrath of the law.

Surveillance system in currency operations

VISIT: President Muhammadu Buhari (left) receiving former President of Kosovo, Mr. Behgjet Pakolli during a courtesy visit at his residence in Abuja, yesterday. But while carrying out the assignment, the team was alleged to have found one of the currency boxes filled only with old newspapers rather than 20 bundles of N1000 notes. A similar case, according to investigation, had been discovered on September 22,

2014 when a box that was supposed to contain N500 notes to the tune of N5 billion was filled with old newspapers. But unlike in the past, the latest fraud could not be swept under the carpet, as a member of the Briquetting Panel from the Osogbo branch blew the lid on

the illicit deal. In a statement, the informant stated that the exercise was designed to last between August 4 and 8, 2014. The 35-year-old whistle blower, however, stated that she discovered a strange ‘sight’ while opening the third box on the second day of the

CBN’s Director of Corporate Communications, Ibrahim Muazu, could not be reached for comments but a senior official of the apex bank, who confirmed this development, however said it was the end result of a whistle blow from CBN in November last year when the incident occurred. He told Vanguard that the apex bank had installed a strong surveillance system in its currency operations that could detect every unwholesome transaction but some of its staff went to undermine the system in collusion with officials of some banks. In the process, an alarm system was triggered off which led to the apprehension of the culprits and they were handed over to EFCC for investigations and prosecution.

Buhari pursues Boko Haram solution to Niger Republic zAs suicide bombers injure four in Maiduguri zInsurgents raid Yobe town, burn Police station, others By Emmanuel Aziken, Political Editor & Ndahi Marama

AIDUGURI — IN his resolve to get to the root of the Boko Haram insurgency, President Muhammadu Buhari is to make his first official trip out of the country to Niger Republic, Wednesday. The shuttle to neighbouring Niger came as alleged Boko Haram suicide bombers on Sunday, attacked Gamborou Market in Maiduguri, Borno State leaving at least four persons critically injured. Sources in Nigeria and Niger disclosed, weekend, that the visit by the newly inaugurated Nigerian leader to Niamey is directed at decapitating the head of the group as a final solution to the insurgency that has wreaked the country’s North-East. “This is to underline the resolve of the Nigerian president to push the Boko Haram group out of existence by going for the jugular of the group. The immediacy being given to the trip emphasises the

seriousness with which President Buhari intends to tackle the insurgency from its roots,” a source privy to the development said. Boko Haram insurgents have in the past been accused of getting supplies and support through some neighbouring countries, notably Niger and Chad. The visit would come ahead of another visit to Germany at the end of the week for the G8 Summit. President Buhari was last week requested by the British Prime Minister, Mr. David Cameron, to attend the summit with a wish list for the attention of the G8 leaders.

Explosion in Maiduguri

The explosion at Gamboru Market which took place at about 1:30pm near Nigeria Customs Service House in Maiduguri caused pandemonium as people hurriedly closed their shops and fled for safety. Gamboru market is one of the markets in the city that has witnessed series of deadly attacks by insurgents mostly suicide

attacks, shootings and bombings in recent past. This incident is coming barely 24 hours after a suicide bomber sneaked into a mosque around Maiduguri Monday Market, Ali Kotoko Road during La’asar prayers. Witnesses said the bomb that exploded was buried in a heap of sacks at a spot where charcoal merchants have their stalls. “The explosion did not kill any one but injured four persons including a man whose arm was ripped off by the blast”, said a survivor, who simply gave his name as Mallam Modu Isa, a trader. Effort to confirm the incident from spokesman of the 7 Division, Nigerian Army, Colonel Tukur Gusau, proved abortive. A senior police source, however, said the explosion was caused by a gas cylinder and not a bomb blast.

Insurgents raid Yobe town, burn Police Satation, other buildings

Boko Haram terrorists on Saturday raided two towns in

Yobe torching public buildings and looting food and fuel stores. Residents and a police officer told AFP, yesterday that Islamist gunmen in pick-up trucks and on motorcycles stormed the towns of Galda and Fika in Yobe State late Saturday, firing wildly and forcing residents indoors. After repelling a military offensive, Boko Haram stormed Fika, 150 kilometres from the state capital, Damaturu, burning a police station and public buildings including a court building, a local administration building and a primary school. “Boko Haram gunmen came in two pick-up trucks and on several motorcycles around 9:00 pm and kept firing shots haphazardly and firing RPGs on the police station where they forced the policemen to flee and residents to run indoors,” Fika resident Abubakar Maigoro said. The Islamists also torched a cluster of government-built homes for civil servants and 13 vehicles parked outside people’s houses, Maigoro said. “They burnt all the telecom masts in the town and we have to go to hill tops in the bush where we can get phone signals to make calls,” resident Ibrahim Sagir said.

10—Vanguard, MONDAY, JUNE 1, 2015

Igbo in Lagos present 7-point demand to Ambode zInclusive government tops demand L

By Olasunkanmi Akoni

AGOS—INDIGENES of the South-east geo-political zone resident in Lagos State, under the aegis of Igbo Progressive Leaders Council, IPLC, yesterday, presented a seven-point demand to the state governor, Mr. Akinwunmi Ambode. The association particularly demanded an inclusive government. This was disclosed yesterday in Lagos by the Publicity Secretary of IPLC, Dr. Harris Chuma, at a thanksgiving convened by the association. The group, led by the Publicity Secretary of the state chapter of the All Progressives Congress, APC, Mr. Joe Igbokwe, called for continuous cordial relationship between Ndigbo and the state government. Harris said: “Some of the issues are that the newly inaugurated Lagos State government will continue to ensure the safety of lives and property of all Lagosians, including Ndigbo. That the government will continue to partner Ndigbo in moving the state forward such that Igbo in the state will continue to have a place in the government and civil service. “That the Lagos State Government will continue to support and maintain profound relationship with the Igbo

traditional institution in the state. We propose the establishment of a board that will recognise the Lagos Igbo honorary chieftaincy affairs.” “The body also asked for sustained improvement of the road network in the state, ensuring that Igbo people get

equal treatment as their Yoruba counterparts, compensation for victims of fire disaster in the various markets and an end to the harassment, intimidation and extortion of Igbo by unscrupulous government officials. “We wish that the newly

inaugurated government will not take our people for granted and they will not treat us with impunity or claim that they know what is best for Ndigbo when we do not feel the same way and that the Governor Ambode-led government will listen to the sincere voices of their passionate Igbo followers.’’

INUAGURAL DINNER: Lagos State Governor, Mr. Akinwunmi Ambode (2nd right), wife of the immediate past Governor, Mrs. Emmanuella Abimbola Fashola (right), immediate past Governor of Lagos State, Mr. Babatunde Fashola, SAN (left) and First Lady of Lagos, Mrs. Bolanle Ambode, during the inaugural dinner in honour of Mr. Akinwunmi Ambode as the Governor of Lagos State.

I'll give priority attention to tourism, entertainment, others —Lagos Gov L

By Ikenna Asomba

AGOS—GOVERNOR Akinwunmi Ambode of Lagos State has promised that his administration will, in the next four years, give priority to tourism, entertainment, arts and sports investment, in order to make Lagos a safe place where all residents can live, work and enjoy so much prosperity. Ambode, who said this at the inauguration dinner affirmed that his administration will harmonise these sectors for excellence. The governor, who reiterated that his party, the All Progressives Congress, APC, stands for change at the national and state levels said: “When we say you should live in Lagos, work in Lagos and enjoy with Lagos, we mean that we are going to put tourism, entertainment, arts and sports together for excellence, and that is what I have always been preaching and that is what we are going to work for in the next four years.” Ambode, however, called for collaboration from the people of Lagos to succeed. He said: “I just want to enjoin

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all of us that the kind of collaboration we have had, we want each and every one of us to come together to start to propel the ideas that can give us an ideal Lagos.” Eminent personalities, who

graced the event, were the Deputy Governor, Mrs. Oluranti Adebule and her husband, Mr. Saheed Adebule; immediate past Governor, Mr. Babatunde Fashola and his wife,

Abimbola; the immediate past Deputy Governor, Mrs. Adejoke Orelope Adefulire; First Lady of Osun State, Mrs. Sherifat Aregbesola and Senator representing Lagos Central, Senator Oluremi Tinubu, among others.

....As PDP charges him to govern with fear of God

By Dapo Akinrefon

AGOS—THE Lagos State chapter of the Peoples Democratic Party, PDP, has admonished the newly sworn in Lagos State governor, Mr Akinwunmi Ambode, to govern the state with the fear of God. This is just as the party described the former Governor Babatunde Fashola’s tenure as a failed period of governance full of propaganda “ which can at best score 40 per cent mark.” In a statement by the state publicity secretary, Mr Taofik Gani, the party said: “While

we hope the best for Lagos State, it is our objective projection that Mr. Ambode may not depart from the propagandists government now institutionalised in the state by Fashola.” The party admonished Ambode to “get close to God and jettison godfatherism in order to make any appreciable success. By upholding this tenet, Mr Ambode will implement policies for the people and not continue in the manner that the state economy is in the hands of a godfather.” The party noted that “ with

a monthly Internally Generated Revenue, IGR, of at least N27 billion, no governor should fail in Lagos State, but alas former governor Fashola left office leaving Lagos State with the highest local and international debt profile in the federation. “No matter how former governor Fashola would launder his tenure, the realities are that after his eight years in office, he left many hopes dashed with many projects and policies left abandoned or not near completion."

Citizen sues judge for debriefing his lawyer By Innocent Anaba

AGOS—A defendant, Tope Atobatele, standing trial before a Lagos State High Court sitting in Ikeja, has dragged Justice Lateefah Okunnu of a Lagos State High Court to court, for debriefing his lawyer appearing in the case before the judge and appointing another lawyer for him against his (litigant’s) wish. Justice Okunnu had at the resumed hearing in the criminal case against Atobatele, debriefed his lawyer and appointed another lawyer from the Office of Public Defender, OPD, for him against his wish. Atobatele in the suit against Justice Okunnu joined the Attorney General of Lagos State, the Chief Judge of Lagos State, the Prosecutor in charge No ID/37C/2011 and one Temitayo Agbelu as defendants in the suit. He is praying the court to declare as an imposition and a breach of his right to counsel of his choice the unilateral debriefing of his lawyer and appointment of another for him by the trial judge. The applicant is also praying the court to declare that the court does not have the power to debrief his counsel without his consent. He is also praying the court to restrain the defendants in the suit from taking any further step in charge No ID/ 37C/2011 without the counsel of the applicant taking part in the proceeding. In a 14-paragraph affidavit in support of the suit, he averred that from the inception of the case, he had briefed Mr. Kabir Akingbolu to handle his defence, while his codefendant in the criminal trial also approached Mr. Akingbolu to take up his defence. According to him, the defence counsel, sometime in 2014, on behalf of the two of them filed an application asking the court to disqualify itself from the matter.

Vanguard, MONDAY, JUNE 1, 2015 — 11

Your salaries have been paid, Fayose tells APC lawmakers zIt's a lie, lawmakers reply gov

Ogun PDP'll bounce back —Rep By Daud Olatuji

By Gbenga Ariyibi

DO EKITI—EKITI State government and the 19 All Progressives Congress, APC, lawmakers were yesterday engaged in a war of words over media report that the embargo placed by the state governor, Mr. Ayo Fayose on the salaries and allowances of the legislators had been lifted. Apparently irked by the development, the lawmakers in a statement accused the government of sponsoring the report. The government described as falsehood the lawmakers’ position, adding that the legislators duly acknowledged their payments last week. But the aggrieved APC lawmakers in a statement by the Media Adviser to the Speaker, Mr. Wole Olujobi, said the report was mischievous and lacking the basic tenet of journalism. The statement reads: ‘’It is shocking that those behind the media report chose not to believe us but overzealously believed the purported sources that thrive in falsehood, lies and propaganda while working for the government. The reporter in one breath said his investigation revealed that the lawmakers had been paid, yet he reported that both Fayose and the lawmakers did not confirm the report as they refused to talk to him. If this were the case, then who were the sources that confirmed to the reporter that the lawmakers had been paid? “To make matters worse, contrary to the reporter’s claim that we did not talk to him, we told him that we have not been paid. Apart from getting this fact from us, the speaker ’s media aide told him the same and so we are surprised that the reporter is claiming that he received no information from us. “In fact, as at Saturday night, the alerts we received from our bank were deficit alerts and so we wonder where the reporter got his story. It is unfortunate that just because the reporter wanted to file an exclusive report for his paper, he went ahead to report this falsehood motivated by blackmail.’’

Salary and favour

“Let us even agree without conceding that we were paid our lawful entitlements, what favour does the governor do to us by that after illegally cutting short our tenure by seven months and putting us in harrowing inconveniences in addition to his brazen rape on the constitution of Nigeria? Must payment of our legal entitlements prevent us from defending the constitution of the C M Y K

Federal Republic of Nigeria which we swore to protect? “Where are the indications of payment when embargo is placed on our accounts by the governor? Even those who should know in government are wondering where the reporter got his story because there is never any payment to the lawmakers. This is irresponsible journalism at its worst and it is unfortunate.’’

Governments position

However, the government in a statement issued yesterday by the State Commissioner for Finance, Chief Toyin Ojo said: “We would have remained silent in deference to the agreement reached at the last

Monday meeting in Akure that all parties should maintain silence on the outcome of the meeting, especially because the lawmakers said they do not want their leaders to know the outcome of the meeting. "However, since the lawmakers have chosen not to abide by this agreement by first issuing press statement to deny and reveal what was discussed in the meeting, and now going to the press to say that they have not received any payment, the government does not have any other option than to tell the public the truth and set the records straight. “The government is by this press statement putting the records straight since the money paid to the lawmakers belong to

Ekiti people.

Payments made in cheques

“The payment was made in cheques because the lawmakers pleaded that their accounts should not be credited directly so as to avoid the banks from making deductions for loans taken from the banks. “Saying that they have not been paid is quite unfortunate and unbecoming of honourable members of the State House of Assembly and this is sad. “We will want to keep our fingers crossed and we wish to caution the lawmakers to adhere strictly to the spirit of the agreements. Governor Fayose’s good gesture, aimed at ensuring peace in the State should not be abused.”

B E O K U TA — A MEMBER of the House of Representatives, Mr. Abiodun Akinlade, has predicted that notwithstanding the defeat suffered by the Peoples Democratic Party, it would bounce back in 2019. Akinlade who is the chairman, House Committee on Science and Technology, stated this while speaking with newsmen at the inauguration of projects in his constituency at Owode, Ipokia Local Government. He described the defeat of the PDP at the federal and state levels as a temporary setback. Akinlade said: ‘What happened at the last elections is just a temporary setback. The party will definitely bounce back in 2019. Again, many of those in All Progressives Congress are PDP members who are on sabbatical leave.’’

Obasanjo's sister for burial June 6

INAUGURATION: Former President Olusegun Obasanjo (6th left), his wife, Bola (4th right), former Head of Interim National Government, ING, Chief Ernest Shonekan (right), Ogun State Governor, Senator Ibikunle Amosun (6th right), his wife, Olufunso (5th right), Ogun State Deputy Governor, Mrs. Yetunde Onanuga (5th left), her husband, Chief Onanuga (4th left), wife of Governor of the State of Osun, Alhaja Sherifat Aregbesola (3rd left), Deputy Governor of the State of Osun, Mrs. Titi Laoye-Tomori (2nd left), Ogun State Chief Judge, Justice Olatokunbo Olopade (left), Alake of Egbaland, Oba Aremu Gbadebo (2nd right), and elder statesman, Chief Olopade, during the Inaugural Ball to mark the 2nd term inauguration of Senator Amosun-led administration in Abeokuta.

Cleric tasks Buhari on corruption, unemployment

By Daud Olatuji

B E O K U TA — T H E archbishop of Remo, Ijebu, Yewa and Egba Methodist Diocese, Archbishop Luke Odubanjo, has called on President Muhammadu Buhari to urgently tackle unemployment and corruption in the country. The cleric also urged Buhari to block all the channels through which the nation’s commonwealth

were being siphoned. Odubanjo stated this while addressing newsmen in Abeokuta on the scheduled apostolic visit of the prelate of the Methodist Church Nigeria, His Eminence, Dr. Chukwuemeka Uche. He said: “The Muhammadu Buhari administration should tackle the problems of unemployment and corruption. No parent prays to spend so much to send his children to school. Again,

corruption starts from the family. So, the president, governors, and legislators must all decide to end corruption by blocking all the channels through which corrupt practices are exhibited. They all must serve the people sincerely and shut corruption out of the system.” He advised Buhari not to discriminate against any religion or political party, but to carry everyone along in the interest of the nation.

BEOKUTA—THE late sister to former President Olusegun Obasanjo, Madam Esther Oluwola Adunni-Eweje, would be buried on June 6, in Abeokuta. Obasanjo had broken the news of his sister’s demise to market women, who visited him two weeks ago. A statement by Mr. Abraham Akanle, said the journey to the final resting place would commence on June 4. The statement reads: "The burial rites will start on June 4. Lying in state/ service of songs will hold at the Obasanjo Farm House, Otta, Ogun State at 5.00p.m. “On Friday, June 5, 2015, there would be another lying in state/service of songs at 19, Onijaiye Street, Sokori, opposite African Church Grammar School, Ita Eko, Abeokuta, at 5.00p.m. “On Saturday, June 6, the burial/church service will take place at the Owu Baptist Church, Totoro, Abeokuta, while internment follows immediately at Owu Baptist Church cemetery, Quarry Road, Abeokuta, Ogun State.”

12—Vanguard, MONDAY, JUNE 1, 2015

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Vanguard, MONDAY, JUNE 1, 2015—13

Appeal Court orders restoration of Delta constituencies By Festus Ahon

SABA—THE Court of Appeal sitting in Benin, Edo State, has upheld the judgment of the Federal High Court which directed the Independent National Electoral Commission, INEC, to restore the Ughelli South constituency 1, Delta State, to its original status as a separate state constituency alongside constituency II . The presiding judge, Justice H. Barka, who read the lead judgment, pointed out that the constituency had existed separately before 1996. The ruling also restored the Isoko North constituency 1 as a separate state constituency. INEC had appealed the ruling of the lower court, as per Justice Mohammed Abuabakar, delivered on October 31, 2014 which upheld the prayers of the plaintiffs. The appellate court dismissed the appeal for lack of merit in its entirety and upheld the ruling of the lower court in favour of the respondents, Chief Godwin Sito and five others. The court faulted INEC’s decision to merge the Ughelli South constituency 1 with another constituency, thereby

denying the people of their constitutional right to have their separate representatives in the Delta State House of Assembly. The applicants had prayed the lower court to declare that the suppression of Ughelli South state constituency 1 by INEC was unconstitutional, urging it to restore the state constituency

to its original constitutional status. They had also urged the lower court to declare that by virtue of the mandatory provisions of sections 6, 36, 91 and 112 of the 1999 constitution, the Delta State House of Assembly as presently constituted of 29 members, is not properly

composed. Reacting to the judgment, the member representing Ughelli South constituency in the Delta State House of Assembly, Olorogun Taleb Tebite, said the judgment was emphatic and clear, reaffirming their strong belief in God and the nation’s judiciary.

THANKSGIVING: From left: Rivers State Governor, Nyesom Ezenwo Wike; Senate President, David Mark and Deputy Speaker, House of Representatives, Emeka Ihedioha, at a reception to mark Wike’s post inauguration thanksgiving service in Port Harcourt, yesterday.

My government'll comprise of politicians, technocrats —Wike By Jimitota Onoyume

IVERS State governor, Mr Nyesom Wike, has said that his government will comprise tested technocrats and trusted politicians with the strategic aim of developing the state. Speaking during a post inauguration thanksgiving service at the Salvation Ministry in Port Harcourt, yesterday, Wike said that the move to revive the state will involve all stakeholders in the state. He was responding to a request by the General Overseer of the Salvation Ministry, Pastor David Ibiyomie, who prayed that the incoming government be made up of technocrats. He said: “I will not abandon politicians. My administration will be made up of politicians and qualified technocrats. The administration will be geared towards developing Rivers State. “God will not allow us to fail. We will bring men and women with capacity to work for the state. “I am from Rivers State and I believe in Rivers State. The

deputy governor and I will work in the overall interest of the state.” Earlier, the General Overseer of Salvation Ministry, Pastor Ibiyomie, commended the governor for putting God first by organising a thanksgiving service for his victory.

He said a government built on God can never fail. He advised the governor to run a people centred government to revive the state. He, however, warned the governor against trying to please everyone as that would be a recipe for failure.

The thanksgiving service was attended by the Deputy Senate President, Ike Ekweremadu, former Governor of Rivers State, Celestine Omehia, Deputy Governor, Dr. Ipalibo Harry-Banigo and key stakeholders of the state.

Okowa appoints Agas Delta SSG By Festus Ahon

SABA—GOVERNOR Ifeanyi Okowa of Delta State has appointed former Director-General of the Direct Labour Agency, DL A, Mr Festus Agas, as the Secretary to Delta State Government. The governor, yesterday, at a reception organised in his honour after a thanksgiving service held at St. Philip’s Anglican Church, Asaba, said that the appointment of Mr. Agas takes immediate effect signalling the commencement of political appointments for his administration. Agas, who hails from OteriUghelli, was elected into the state House of Assembly to represent Ughelli North

constituency II in 1999 and was re-elected in 2003, within which period he was elected Deputy Speaker of the state House of Assembly. Okowa, at the reception,

thanked Deltans for believing and trusting him and his Deputy, Mr Kingsley Otuaro, assuring: “In all that we do, we will look at the common good of all.”

PDP’ll bounce back —Utuama By Festus Ahon & Ochuko Akuopha

G H E L L I — IMMEDIATE past Deputy Governor of Delta State, Prof Amos Utuama SAN, weekend, admitted the vulnerability of the Peoples Democratic Party, PDP, after its defeat at the last presidential election, but expressed optimism that the party will bounce back in 2019.

Utuama, at a reception held in his honour by the leadership of the party at his Otu-Jeremi country home, in Ughelli South Local Government Area of the state, urged party faithful to remain steadfast, saying: “Even though we are very vulnerable now considering the fact that we have been in power in the last 16 years, and we are no longer in the presidency and we have lost some states.”

Buhari'll save Nigeria from decay, says senator-elect

DO North senatorelect, Major Francis Alimikhena (rtd), has expressed optimism that President Muhammadu Buhari has the capacity to pull the nation out of the current rust and decay which the country has found itself. Alimikhena added that Buhari’s contribution to the political history of Nigeria was legendary. He said: “History doesn’t lie. As Buhari takes over the leadership of Nigeria, the first thing I want him to know is that he is not in competition with former President Goodluck Jonathan. Whatever Jonathan was as a former president is now history. So, I want our new president to stay focused and not listen to detractors, who are more concerned about their personal interests."

Kpokpo under leadership of Olare-Aja, Delta community insists By Onuzure Dania

ARRI—THE people of Kpokpo in Escravos, Warri South-West Local Government Area, Delta State, have warned a g a i n s t misrepresentation of the headship of the community, stressing that Kpokpo, whose land “is a major host to Delta Industrial Gas City, otherwise known as EPZ, is under the leadership of an Olare-Aja (head of the community) Pa. George Fregene and not Olori-Ebi as erroneously reported.” In a statement, the Olare-Aja of Kpokpo community, Pa Fregene, called on sponsors of the report claiming Kpokpo community has Olori-Ebi as its head to retrace their steps and desist from such false publication. He noted that Olori-Ebi was associated with family headship in Itsekiriland and not an autonomous community like Kpokpo with long history and a recognised leadership.

14—Vanguard, MONDAY, JUNE 1, 2015

Buhari ‘ll stamp out corruption, indiscipline, says Sagay

AGOS—PROF Itse Sagay (SAN), a constitutional lawyer has said that Buhari administration will stamp out systemic corruption and indiscipline in the country. Sagay told the News Agency of Nigeria, NAN, in Lagos, yesterday, that the present socio-economic woes facing the country were direct consequences of indiscipline and corruption by past governments. He said it was unfortunate that as an oil producing nation, the country was still experiencing scarcity of petrol. He said that such woes facing the nation were results of corruption and indiscipline, insisting “they must be stamped out.” Sagay said it had become imperative that government must situate this in the right perspective. He said the new administration ought to ensure urgent resuscitation of all the moribund refineries in the country for crude oil to be refined locally. “We must refine all our petroleum products within the country. We must stop the importation of petroleum products. It is criminal for the country to purchase petroleum products from non oil producing countries,” Sagay said. The senior advocate said Nigeria had all the devices to end the ongoing epileptic power supply, which had further impoverished its citizens.

2019 presidential race clouds National Assembly leadership contest .As Dogara signs deal with PDP caucus today By Emmanuel Aziken, Political Editor

HE CONTEST for leadership positions in the yet to be inaugurated 8th National Assembly has become enmeshed in the jostling for ascendancy by prospective aspirants in the All Progressives Congress, APC, for the 2019 presidential ticket of the party.

With word on the prospects of President Muhammadu Buhari seeking re-election yet unclear, a number of potential 2019 presidential hopefuls have nevertheless, commenced quiet political manoeuvres to properly position themselves should the former general decide not to seek a second term. In the same vein, the presidential hopefuls are also said to be silently aiming for the political jugular of their potential rivals doing

everything to frustrate their present political pursuits. Meanwhile, one of the leading aspirants in the contest for speaker of the House of Representatives, Yakubu Dogara is expected to seal a deal with the Peoples Democratic Party, PDP, caucus in Port-Harcourt, Rivers State. The quest for positioning in 2019, it was learnt, is now influencing the consideration of senators-elect and major stakeholders in the APC in their

AWARD: From left, former Minister of Industry, Trade and Investment, Mr. Olusegun Aganga; Director-General, Standards Organisation of Nigeria, Dr. Joseph Odumodu, and Permanent Secretary, Ministry of Industry, Trade and Investment, Amb. Abdulkadir Musa, during the presentation of a Lifetime Achievement Award to the Minister by the Chief Executive Officers of agencies under the ministry, in Abuja, last Thursday. Photo: MITI

Adesina thanks Nigeria, Africa countries for role in AfDB elections By Favour Nnabugwu

MMEDIATE PAST Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, who was, last week, elected as the president-elect of Africa Development Bank, AfDB, has commended Nigeria and other African countries for standing by him in the challenging period before and during the elections. Adesina, who will succeed President Donald Kaberuka, whose 10-year tenure ends in September, after Nigeria’s three attempts at occupying the post in the 50-year-old bank, expressed a deep sense of humility and gratitude to all for voting him in as the 8th president of the Bank Adesina, being full of appreciation in a statement to

Vanguard in Abuja, yesterday, said: “I am deeply humbled and honoured to have been entrusted with the great responsibility of leading the African Development Bank, AfDB, at a time that presents such great opportunities and also profound challenges for our continent. “I am truly humbled by the support of many Presidents across every region of Africa. Africa is my home. “The AfDB campaign and election has been an incredible experience, and I am grateful to all those who supported me along the way and to each and every person with whom I’ve met and exchanged ideas and hopes for inclusive economic growth on our continent throughout this process. "I am thankful to have been given the chance to travel to so many parts of the continent, small

states, fragile states, and large states across Africa, to feel the pulse of African leaders and peoples. I met with young people and women, Africa’s greatest assets, with small- and mediumsized enterprises, and with Africa’s business leaders. "From rural areas to burgeoning cities, I saw vast opportunities for a greater and more inclusive Africa. I am hopeful and excited about the prospect of building on the great work of President Donald Kaberuka at the AfDB." It will be recalled that Adesina broke the jinx when he got elected at the Annual General Meeting of the bank which held in Abidjan, the Cote d’Ivoire's capital, beating seven other contenders for the top job. He garnered 58.10 per cent of the total votes, out of which regional votes represented 60.50 per cent. He was followed by

Chad’s Minister of Finance and Budget, Kordje Bedoumra, who came a distant second with 31.62 per cent of total votes and 36.63 per cent of regional votes while the only woman in the race, Minister of Finance and Planning of Cape Verde, Cristina Duarte, polled 10.27 per cent of the total votes out of which regional votes represented 2.87 per cent. “I would like to give my special thanks to a few people in particular, without whom this success would not have been possible: former President Goodluck Jonathan for his nominating me, his confidence, and his steadfast, enthusiastic support; President Muhammadu Buhari for his strong endorsement and rallying support for us; and Dr. Ngozi Okonjo-Iweala for her vital role and tremendous effort in delivering this successful outcome.”

support for the two major contenders for the office of Senate President, Senators Ahmad Lawan of Yobe State and Bukola Saraki. Kwankwanso and the Kano senators were alleged to be pushing the aspiration of Senator Lawan in the Northwest to the discomfort of Senator Saraki and his supporters. Informed sources disclosed that Kwankwanso’s opposition might not be unconnected to the fact that Saraki and Kwankwanso were among the two frontline potential aspirants being canvassed for the 2019 presidential contest. Besides the duo, others allegedly being mentioned were Governors Aminu Tambuwal of Sokoto State and Nasir el-Rufai of Kaduna State, both of whom were first-term governors. Sources close to the leadership contest alleged that canvassers of the 2019 presidential contest were working to ensure that opportunities that would "promote the position of anyone of their rivals are damaged." In their drive to overcome the challenge posed by Kwankwanso, Saraki’s supporters at a meeting in Sokoto State, last Thursday, were said to have delegated Senator Sani Yerima to convince Kwankwanso on his opposition to Saraki. Yerima, it was gathered, was also despatched to win over Senator Garba Marafa, one of the kingpins of the Lawan campaign based in the Northwest. The Saraki camp, it was learnt, believed that Kwankwanso remained the only major stumbling block to their aspiration of getting the presidency of the Senate. Meanwhile, the contest for speaker of the House of Representatives could take a decisive edge today when Dogara one of the two leading aspirants for the office "seals a deal with the PDP caucus." The deal, Vanguard, learnt, was to be struck on the sidelines of today’s retreat of PDP senatorselect and members-elect taking place in Port-Harcourt. Sources in the Dogara camp said that at least 126 of 139 members-elect in the PDP caucus had signed on to the deal that they claim could push their candidate to an unassailable lead upon the support he had also obtained from APC members-elect. Dogara’s major rival for the office of speaker is Rep. Femi Gbajabiamila from Lagos State, being backed by strong forces within the APC.

Vanguard, MONDAY, JUN E 1, 2015 —15

Thugs attack ex-gov aspirant’s home in Abia By Felix Ogbonna

BA—HELL was let loose on Friday, May 29, barely two hours after the swearingin ceremony of the new Abia State governor, Mr. Okezie Ikpeazu, as thugs numbering over 200 stormed the residence of a former governorship aspirant on the platform of Peoples Democratic Party, PDP, in the state, Friday Nwosu, beat up his kinsmen and destroyed his campaign billboards in the area. The thugs who came in over seven buses, stormed the Mgboko Umuoria country home of the former governorship aspirant and attempted to force themselves into the expansive compound but were resisted by policemen guarding the premises who fired shots into the air. A chief in the community who preferred anonymity, told Vanguard: “When the thugs were stopped from gaining access to the residence, they started destroying Nwosu’s campaign billboards along the road and beating up residents of the community they could lay their hands on. ‘’Some of them were shouting: "Where is F.N

Nwosu? There cannot be two governors in Abia State. We are going to deal with him.” The incident attracted the youths of the community who engaged the thugs in a freefor-all, leaving behind over 15 persons injured. Reacting to the incident, Nwosu told Vanguard that he had been receiving threats

from unknown persons to kill him, wipe out his family and burn his house. “I have been receiving threats from unknown persons and reported the matter to the police, I am leaving them to find out who is behind these threats to kill me and burn my house as well as the action of the thugs who beat up

residents of my community and destroyed my billboards. ‘’I’m not a violent man; I have always conducted myself very responsibly. I see no reason why people should seek to kill me, my family and burn down my house. I appeal to the police to provide security for me, my family and property,” Nwosu said.

THANKSGIVING: From left, Abia State Governor, Dr. Okezie Ikpeazu, his wife Nkechi, his mother, Bessy; Deputy Governor, Hon. Udeh Okochukwu, and his wife, Lady Okochukwu, at the thanksgiving service organized by Seventh-Day Adventist Church, Eastern Nigeria Union Mission, in honour of the governor in Aba.

NUGU—INDICATIONS emerged, weekend, that the predicted battle against former Governor Sullivan Chime of Enugu State may have started from the local government areas where some

chairmen believed to be loyal to the governor have been marked for removal. The war against Chime appears to be coming from his own kitchen cabinet that fell out with some political heavyweights who also lost party nomination in the last election.

Already, some chairmen have been marked for impeachment as petitions to the Economic and Financial Crime Commission, EFCC, may be in the offing. A close government source confirmed to Vanguard that a House of Representatives aspirant from Nkanu-East, who lost nomination in the last

.... Residents yearn for good governance

NUGU—THE people of Enugu State have asked the newly sworn-in administration of Governor Ifeanyi Ugwuanyi to hit the ground running with programmes and policies that would directly alleviate the sufferings of the masses. A cross section of residents who spoke to Vanguard were, however, upbeat on the capability of Ugwuanyi’s administration to deliver on it campaign promises. President, Enugu Unity Forum, EUF, Chief Tahil Ochi, said: “Appointment of political offices should be purely on merit. Politicians who are professionals in different fields of endeavour and have a grip of the peculiarities of their sector should be appointed.

“The governor should know that the 2019 re-election bid has started. His actions and inaction from the onset will determine his faith at the end of his four year stint. “Policies and programmes that are employment oriented to absolve the teeming unemployed youths that roam the streets should be given priority. ‘’Loopholes where revenue leaked from should be plugged, especially now that allocation from the centre is thinning out gradually.” Another respondent, former Commissioner for InterMinisterial Duties, Mr. BelovedDan Anike, said: “This administration should walk the talk of reducing pressure on Enugu metropolis by developing other semi-urban centres like

EMBERS OF the Independent Petroleum Marketers Association of Nigeria, IPMAN, Aba depot, under the aegis of Concerned Marketers, have decried the lopsided manner petroleum products were allocated at the NNPC depot in Aba, Abia State. The group lamented that the situation had made it difficult for majority of them to get products, forcing them to source for products from other places with its added costs. According to the group, this makes it impossible to sell petrol at government approved pump price of N87 per litre. The group in a statement signed the spokesman, Levi Amah, accused the leadership of IPMAN at the depot of high-handedness. The marketers accused IPMAN leadership of conniving with some officials of NNPC, Aba depot, to deprive majority of the marketers of getting petroleum products, which had resulted in scarcity of both petrol and kerosene in the South East zone.

APGA STAKEHOLDERS TO BUHARI:

ENUGU: Crisis brews in PDP Stories by Francis Igata

IPMAN decries poor products allocation in Aba depot

Nsukka, 9th Mile Corner to trigger socio-economic growth in those areas. “Improvement of workers welfare should by key in order to drive the wheels of government policies and programmes efficiently and effectively. The incessant killing, maiming, rape, kidnap and expropriation of our people and farmland by the now dreaded fulani herdsmen should be tackled frontally by this administration. “Most of our people are predominantly farmers. The activities of Fulani herdsmen have left tears and anguish in most families. Our agrarian farmland have greatly been devastated. ‘’It is worrisome that they have been allowed space to desecrate the land, while security agencies watch in surrender.”

election, was being used to ensure that all the governors’ men were dislodged, even before the local government elections coming up later in November. He was believed to be working with some Peoples for Democratic Change, PDC, bigwigs to destabilize the PDP in NkanuEast, having failed in an earlier attempt to ensure that PDP failed the last elections in both NkanuEast and West. Already, Enugu State working committee of PDP, under the leadership of Chief Ikeje Asogwa, had inaugurated a disciplinary committee to investigate acts of sabotage from members of the party during and after the recently concluded elections. The committee, headed by the state secretary, Steve Oruruo, Mr. Igwesi, Dr. Chris Iyiani, Mrs. Oby Nwofor and Mr. Armstrong Agbo as members, were charged with the responsibility of identifying members that engaged in anti-party activities and find out areas the party had lapses. The recent onslaught against the governors’ men had also been timed to coincide with the transition and hand-over to the new governor and also unsettle his administration.

Forgive your opponents By Vincent Ujumadu

WKA—NATIONAL stakeholders’ forum of All Progressives Grand Alliance, APGA, has urged President Muhammadu Buhari to forgive all those who did not support him during the March 28, 2015, presidential election. Rising from the South East meeting of the forum in Awka, the stakeholders also called on the President to look into and complete the numerous projects abandoned in the zone by the Federal Government. National Coordinator of the forum, Chief Sylvester Alor, who made the call on behalf of the forum, advised President Buhari to set appropriate machinery in motion to banish all forms of corruption and ensure the enthronement of justice, equity, morality, good conscience and good governance in the nation’s polity.

16—Vanguard, MONDAY, JUNE 1, 2015

Shippers urge Buhari to inject economic life into Onitsha Port By Chimaobi Nwaiwu

NEWI—THREE years after the commissioning of Onitsha River Port, Anambra State Shippers Association has appealed to President Muhammadu Buhari to make it functional without further delay. President of the association, Mr. Emma Akpaka, said it had become very imperative that economic life should be injected into the river port, having cost government so much money to build. Speaking with newsmen in Onitsha, Akpaka said that since the port was commissioned in 2012 for the second time, not one per cent of its needed economic benefit had been realized, adding that the best politics now was to make the port a bonded wharf that would create jobs, generate revenue and develop inland waterways of host communities.

Akpu people appeal to Buhari for restoration to Orumba North LG By Chimaobi Nwaiwu

NEWI—THE people of Akpu in Anambra State have appealed to President Muhammadu Buhari to restore the community in Orumba North Local Government Area of the state without further delay, saying that remained the only way peace could be restored in the area. The traditional prime minister of the community, Chief Obi-Young Nwankwo, who made the call, weekend, said Akpu was forced into Orumba South Local Government Area by then government of President Ibrahim Babangida in 1991 without consultation with the people. “If Ajalli who are our tenant should be in Orumba North LGA, we the Akpu communities have no business being in Orumba South, but should be in Orumba North and also deserve to be the headquarters of the Orumba North Council Area,” he said.

Many injured in Imo Police/MASSOB clash By Chidi Nkwopara

WERRI—A detachment of armed security personnel from Imo State police command, yesterday, clashed with loyalists of the Movement for the Actualization of the Sovereign State of Biafra, MASSOB, leaving many injured. This came on a day the group said it had no regret supporting former President Goodluck Jonathan in his failed reelection bid. The MASSOB loyalists came to Owerri in more than 500 commercial vehicles of varying sizes to celebrate Biafran Day

and remember their fallen heroes. Vanguard gathered that members, clad in their uniforms, sang songs as they marched towards the city centre of Owerri. It was further gathered that as the MASSOB loyalists marched into the ever busy Owerri-Port Harvourt federal highway, the police personnel allegedly ordered them to disperse but the order was disobeyed. An eyewitness claimed that as the processing MASSOB loyalists made to continue their march, the police fired some teargas canisters. “As soon as MASSOB loyalists marched into Owerri-Port

Harcourt highway, the police ordered them to disperse, but the order was largely ignored by the people. The police then fired teargas canisters," the witness recounted. He said that the firing of teargas canisters generated instant stampede, which occasioned injuries. It was not clear at press time if anybody died in the process or how many people were arrested by the police, but many sustained varying degrees of injuries. Several calls put across to the Police Public Relations Officer, PPRO, Mr. Andrew Enwerem, a deputy superintendent of police, were neither picked nor

CELEBRATION: Former Governor of Abia State and Senator elect for Abia Central, Chief Theodore Orji (middle), wearing red cap), being celebrated back home by a crowd of Ibeku community, after handing over to the new governor, Dr.Okezie Ikpeazu, in Umuahia.

returned. Meanwhile, MASSOB has said it had no regret backing former President Goodluck Jonathan in his failed reelection bid. The MASSOB Leader, Chief Ralph Uwazuruike, who made the declaration made in an address delivered during the ceremony to mark this year’s Biafra Day in Owerri, yesterday, said: “The Goodluck Jonathan presidential election followed the pattern of the Biafra-Nigeria civil war. ‘’It highlighted the war has not ended. It was a war between the former Eastern Region and Nigeria.” While insisting that the outcome of the election had justified their resolve for self-determination, Chief Uwazuruike also explained why Ndigbo voted massively for their brothers from the SouthSouth. “This singular gesture has made the struggle for Biafra stronger again. We remain proud of our support for Dr. Jonathan and we promise to continue to support our brothers in their future endeavour. “The Biafra project has formed the outlook of our people over the years,” the MASSOB leader said. He noted that because of the said project, his people had suffered many deprivations in Nigeria. He said: “Because of the project, our people have been massacred in their millions. Our detractors brought enmity between Ndigbo and their brothers in the South-South. ‘’The seed of discord cost us our first attempt at independence, as well as brought distrust between us and our brothers.’’

2015 general elections most rigged in Nigeria —Asari Dokubo By Chidi Nkwopara

WERRI—Ex-Niger Delta militant, Alhaji Asari Dokubo, has described the recent 2015 general elections as the most rigged election Nigeria had ever experienced, saying they were not free and fair. Alhaji Dokubo, who made his stand known during a chat with the media in Owerri, yesterday, also explained that he was in Imo to be part of the Biafra Day celebration with his Biafra brothers and sisters. “The figures were self evident. The figures clearly showed the manipulations. The elections were not free and fair. Also, the stage was set to manipulate the elections,” Dokubo said. He recalled that Boko Haram came into being after the

leaders from the Norther section of the country, mostly Northern Muslims, made the statement that they would make the polity unstable, ungovernable and crisis-ridden for Dr. Goodluck Jonathan, who was duly elected by the people of Nigeria. He recalled that the National Assembly rejected e-voting and that when the card readers were brought in, some of them shouted to the roof tops that the gadget was unknown to the Constitution and Electoral Laws of Nigeria. “Our brother, Goodluck Jonathan, refused to listen to us. To him, the life of any Nigerian was not worth his election or ambition. For us, that was an abdication of his duties as President because we were also involved in the elections and we wanted free and fair elections,” Dokubo said. The IYC leader said that on the day of the election, Dr. Jonathan

was roundly humiliated, stressing that four card readers were brought in as he stood waiting, adding that all of them rejected him. Dokubo said: “That was the time Dr. Jonathan ought to have taken action and stopped the fraud that INEC called an election. He did not do it. ‘’It was in the middle of a crucial match that the referee, Professor Attahiru Jega, who is from the same place with Muhammadu Buhari, issued a statement that if card readers cannot confirm your finger prints, then you can go on and vote.” The IYC leader was irked that election results were cooked up and announced, adding that in a place like Kano, there was no cancellation or void vote. “General Buhari was given 1.9 million votes in Kano. Somewhere in Imo State, as educated as Imo is, about 71,000

votes were voided. ‘’But Kano, there was no cancellation, no voided vote! And mysteriously, the Resident Electoral Commissioner and his family died a few days later in a mysterious fire,” Dokubo recalled. He said Buhari had a stolen mandate, adding that the mandate was not freely given to him by the people. “A stolen mandate cannot last for a very long time. The owners of the mandate, whether Goodluck Jonathan likes it or not, will one day demand for that mandate. ‘’I have nothing personal against General Buhari but things must be done the right way. Truth must be said. General Buhari today is now a tiger. “The votes were manipulated. He took over power because Jonathan did not want people to die. Goodluck was ready to make sacrifice and he made sacrifice."

Vanguard, MONDAY, JUNE 1, 2015—17

C M Y K

18 — Vanguard, MONDAY, JUNE 1, 2015 AS inaugural speeches go, President Muhammadu Buhari’s presentation achieved a lot through sand bites that sketched the strands of change while stretching responsibilities change entails. It was a great speech in more ways than a literary exchange. It was a feast of words, an enterprise in creating hope, a labour in extricating change from chaos. Where Nigeria is, simple sufferings heighten the expectations of change. The fuel scarcity of the past few weeks reminds us of the political crisis of decades ago, when strikes were thrown into demands for change. Today, the realities of change are different, even diffident. All aspects of us await change. Buhari tried itemising the immediate demands of change. It was a necessary exercise to give a hint about the direction of the administration. It was not discernible. The carriers of change are lost in a labyrinth of words that will be remembered more for its

Buhari sketches change import for Buhari’s young administration than as a compass for its journey that is filled with expectations of the dividends of change. Buhari for his own good, and commendably too, has ceased to be belligerent. His speech brought rare grace to the office, accommodating the efforts of others, including his predecessor, Goodluck Jonathan. It seems Buhari’s would be an inclusive government, if it intends to seek broad solutions to Nigeria’s challenges.

Away from the fiery campaigns that painted bold strokes of solutions to the challenges, Buhari was more reticent, speaking in broader terms than the bolder offerings of the campaigns. Specific deadlines in his campaigns for welfare programmes for the unemployed disappeared. In their place were more coherent stands that the responsibility for change was everybody’s. Some have rated the speech vague on this score. They expected specifics. They wanted things to grab as they grapple with a new

government. They were interested on points with which to judge Buhari, for judgment surely awaits change. The speech appeared to have cleverly avoided specifics. Perhaps, these account for everyone clinging to its most resonating line, “I belong to everybody. I belong to nobody”. Buhari did not want to be elaborate about issues of independence of his government or his personal determination to run on his own. If he intended to douse fears that sponsors of change would not decide the course of change, he succeeded in heightening fears of his naivety about practicalities of democratic governance. Buhari belongs to an enlarged family of political associates, military colleagues, classmates who have discovered him, and new friends who always await men of power. The earlier he identifies the demands of each on his administration, the earlier he would be able to belong to everybody.

OPINION Politicians and ingratitude (2) By Bobson Gbinije Continued from Friday pg 18

NGRATITUDE to God is the crux of the purport of secular humanism. Ingratitude to God is based on our inability to understand our roles on earth. We think that the acquisition of material abundance is the sole purpose of life on earth and man will stop at nothing in bringing it to pass in his life-time. But in all honesty unless the Lord builds the house, they labour in vain who builds it. God is it. He alone brings good things to pass. Forget about the prosperity of the wicked, their properties will be inherited by God’s own. Let us not turn around and kick the ladder by which we climbed, God is the ladder, without which man would have been completely vulnerable and empty. Jane Eyre talking about vanity and susceptibility of man said “Man but proud man, dressed in little brief authority best assured of what he is most ignorant and plays such fantastic tricks before high heavens as make the angel weep.” There is no rational reasoning that will ever come near to disputing God’s total presence in all our endeavours, but man’s refusal to commit it to him but rather believing in themselves has always led to negative results. Man will fail you and you will fail yourself, unless you commit it all into God’s hands. This is a prophetic prologue to avoid a tragic interlude. The wealth of life is decorated, festooned and embroidered with travails, traumas and tribulations. It is only God’s presence that can determine where you stand in the midst of it all. Life is not for empty pursuits, it is to seek, find and C M Y K

serve God and then all other things can be added unto us. The essayist “Ingersoil” said “life is not, let us eat and drink for tomorrow we die.” It is rather “Let us put our heads together and serve mankind thence serving God.” Happiness is where you are, when you are, when you are there and your own happiness is concretised by that you put in other people’s lives. This is latently corroborated by Van Dyke – he said, “There is a loftier ambition than merely standing high in the world. It is to stoop down and lift mankind a little – higher.” Dyke is a legal luminary, essayist and poet. There can never be any acceptable rationalisation of our ingratitude. We can only show gratitude to God through service to man. If we take offence at the ingratitude of “Man” to us having shown them generosity. How then does God not feel chagrined at man’s ingratitude to Him? Wilfred Greenfield said, “The service we render to others is in reality the rent we pay for our room on this earth. It is obvious that man himself is a traveller, the purpose of this world is not “To have and to hold” but to give and to serve.” Alexander Pope, poet and essayist in his poem “Essay on man” observed that, “man, like the generous vine, supports lives; the strength

Gratitude is a noble virtue registered and cultivated in great minds

he gains is from the embrace he gives.” Will our politicians ever learn from this morphology of ingratitude and shun pangyrical evocations and the superfluity of ventriloquisms? Man has nothing to offer God except total submission to his will. He can abundantly reflect this through service to man. Man should realize that he is weak and empty without God except total submission to his will. He can abundantly reflect this through service to man. In Thomas Gray’s ELEGY WRITTEN IN A COUNTRY CHURCH YARD, he noted the ephemerality and transient nature of man’s life in the face of his arrogance and moribund pursuit of carnal things. He said, “The boast of heraldry, the pomp of power and all that beauty, all that wealth ever gave, awaits alike, the inevitable hour, the paths of glory lead but to the grave.” Man is emptiness festooned with lucent glamour – a Barmecial – dish. It is tantamount to a display of banal ingratitude to a friend who in a boundless demonstration of compassionate comradeship decides to assist us in time of need only for us to mock, traduce and blackmailor stab him. This fiendish spirit of ingratitude has stopped most people from doing good and this has surreptitiously injected individualism into the world. Ingratitude has murdered philanthropy. A little soft thank you, an acknowledgement, a recognition, a genuflection, a passionate apology and good retort to somebody who has done something good to us is a laudable and noble reflection of gratitude. Though little, but it shows the greatness in little things. Scott Arnold the essayist said, “Little things are but little things, but carefulness in them is noble and when put in the right places go a long way.” Do we do good because we expect a reward

and a pay back? Some do good to those they know can also do to them, quite a miniscule few do “good for goodness sake.” Man must realise that there is always a reward for doing good, but the reward is more bounteous when it comes from God. Do good and leave the rest to God. It is tantamount again to secular humanism if you do good to those we hope to get reciprocal action from, it is more blessed to do good to the needy and poor. Extrapolating Ella Wilcox, “Dollar’s planted in the soil of benevolence grow into harvest of prosperity.” Gratitude is a noble virtue registered and cultivated in great minds. Like the quality of mercy, the quality of gratitude is not strained. It dropped as the gentle rains from heaven and it is twice blessed, him that givethand him that receiveth. It is a pity, and indeed a pity beyond all telling, a wondrous pity that “man” can be ungrateful. Ingratitude is a monster too hideous to behold. The icon Dr. NnamdiAzikiwe cherished the virtues of humanity and gratitude. He gave tacit endorsement to these virtues anytime he delivered a speech. A case in point was in May 4th 1949, when he admonished the inimitable unionist Pa Imoudu, he said, “Courage brother courage, do not stumble or falter. Through the path be dark as night, there is a star to guide the humble and grateful ….. trust in God and do the right.” Ingratitude as a noxious and egregious conduct will imperceptibly but inexorable lead us on the perilous path of doom. Gratitude to God is the height of it all. That is where our lives lie and that is where our peace can come from.

Concluded

•Mr. Gbinije, a commentator on national issues, wrote from Warri, Delta State.

Vanguard, MONDAY, JUNE 1, 2015—19

RESIDENT Muhammadu Buhari is the second returnee president of Nigeria. The first man to experience this uncommon opportunity was former President Olusegun Obasanjo. He came in with two major mindsets, which helped in no small measure in rendering his second coming as a great waste. Number one was that he was a wounded man on a revenge mission: a civil war “hero” and former head of state who was disgraced and sent to life jail for coup plotting by the late General Sani Abacha and his group of cohorts. But instead of him (Obasanjo) perishing in jail as his enemies had plotted, God killed Abacha, set him free and made him president a second time. Though Abacha was dead, his ghost must be pursued to the gates of hell. Those who worked with him must pay for it, and all his good policies must be scrapped. Obasanjo tightened the noose around the necks of Abacha’s men on trial, pursued the Abacha loot (though we were never told how the money was subsequently spent) and swept politically exposed officers from the armed forces. He literally put one of Abacha’s prized allies – Muhammadu Buhari – in the doghouse and scrapped the Petroleum Trust Fund (PTF), a laudable programme Abacha put in Buhari’s hands to help revive rotten infrastructure nationwide. In fact, it was the shoddy treatment that Buhari and some entrenched Northerners received at the hands of Obasanjo that made him to embrace politics, knowing that with the North behind him, he too could become president like Obasanjo. Secondly, Obasanjo, believing himself to be some kind of “rock star” in the eyes of the West, pursued what he called “debt forgiveness”. He spent valuable time and resources tramping all over the capitals of Europe and America. For four years he got nothing but snide reactions for his efforts. It was not until he brought Dr. Ngozi Okonjo-Iweala from the World Bank to manage the economy that Nigeria was finally able to exit the quagmire of the Paris Club by paying $12 billion upfront. Space constrains me to catalogue the litany of adverse consequences Nigeria suffered as a result of Obasanjo’s weathered mindset. We are hoping that Buhari will be bigger than that. If Buhari starts by settling scores such as discriminating against Nigerians based on their roles in the civil war, how they voted, how they funded his campaign, how they treated him after he was deposed in 1985, what they said about him during the electioneering activities, and such effete and ephemeral considerations, he

should not matter how much the thief contributed to put Buhari in power. The war on corruption must be blind and even-handed. The APC broom must sweep evenly, not pick some and leave some. When we begin to see selective arrests, detentions, prosecutions and jailing, Nigeria will continue to be a laughing stock. People will stream over to the APC to escape the law. People will cling to Buhari’s kaftan to keep their loots. That is not the change we want.

Old wine in new skin?

The needed change

will also waste our time and resources and ultimately fail in his second coming. He will be the proverbial new wine in old skin which made the skin to burst and waste the wine.

The law enforcement agencies must be reformed and reconfigured to enforce the law. All policemen guarding Nigeria’s “big men” must be returned to their core duty posts to chase down felons and enforce the law. Our soldiers must never again act as “mai gadi” to civilians or carry the bags of their wives or concubines. The Economic and Financial Crimes Commission (EFCC) and other agencies that monitor graft in society must be fully recharged and deployed to take down any culprit, no matter how highly placed or connected. Two or three take-downs and the rest of our people will line up in compliance. We must also do away with the plethora of ethnic militias that threaten the peace, unity and survival of our country. The various militant and exmilitant groups in all parts of the country must be made to understand that there is only one Nigerian army, navy, air force, civil defence and secret police (Directorate of State Services (DSS). Any group that has a complaint should lodge it in appropriate quarters, and they should immediately be addressed and not allowed to fester until people take up arms. We want a situation whereby, within the next one year of Buhari’s arrival, we will hear no more of Boko Haram, “Fulani herdsmen” massacring villagers all over the Middle Belt, Odua People’s Congress guarding pipelines and threatening their enemies in the South West, militants disturbing our economic well-being in the Niger Delta, Biafra renaissance groups trying to take over government houses in the East, kidnappers, ritualists, “baby factory” merchants, cultists and other heinous criminals dehumanising our people. With our security and corruption demons exorcised, Nigeria’s economy, as Fashola predicted, will simply explode. If that is the change that Buhari will bring, then welcome, Mr. President.

Buhari as vintage wine Buhari should be old wine in new skin; vintage wine. He campaigned on the platform of “change”, and we expect a change for the better. He told us he would pay priority attention to three main areas: security, anti-corruption and diversification of the economy through the revival of agriculture to create jobs. It is a well-chosen, lean mission. At an interactive session with editors when the All Progressives Congress (APC) was unveiling Akinwunmi Ambode, its governorship candidate for Lagos late last year, former Governor Babatunde Fashola (whom we expect to play a prominent role in the Buhari administration) explained the threepoint agenda thus: “once (Buhari) fixes the problems of security and corruption the economy will be jump-started”. The job will be made easier for him given the fact that the economy has already been jump-started by the previous People’s Democratic Party (PDP) administrations. The direction of the economy has already been defined to reflect a greater role of the private sector in areas formerly run as federal government monopolies, such as telecoms, power, petroleum, infrastructure, tourism and others. I do not believe that Buhari should attempt to reverse this direction. He can only fine-tune any area where corruption has tainted the process or clogged the wheel of progress to speed up results. The areas where we need the Buhari “magic” to go work immediately involve security and war on corruption. If anybody takes what does not belong to

him he should go to jail in addition to returning the stolen goods to the owner. If any public officer takes what is not his official entitlement, he should be made to return it and go to jail. If any government appointee who made a false declaration is caught, he must lose his job, go to jail and forfeit his loot. Whistleblowers get ready. Arise O compatriots, Nigeria’s call obey. If any past government official is proved to have taken anything that was not his due, he should be made to return it and proceed to jail. And he should go there as quickly as possible. The legal profession should no longer be a practice that ensures that thieves keep their loots and continue to live large. It should now promote the course of justice and the rule of law. It has even come to a point where thieves are the greatest noisemakers about the need to deal with other thieves. As Nigerian musician, Sound Soultan puts it, in today’s Nigeria, ole dey shout ole. Thieves are the ones shouting: “Thief! Thief!!”, and of course, pointing to others. This must stop. It

With our security and corruption demons exorcised, Nigeria’s economy, as Fashola predicted, will simply explode. If that is the change that Buhari will bring, then welcome, Mr. President.

OPINION Insurgency: How NEMA is coping with IDPs By Manzo Ezekiel

HE recent successes of the military in the liberation of communities that were occupied by insurgents opened a new vista in the drive to support the people that were directly affected by the insecurity in the North eastern states of Borno, Adamawa and Yobe. Since 2009 following the escalation of the belligerence by Boko Haram, many lives have been lost, communities sacked and destroyed resulting in the fleeing of the residents to safety in various location considered safer, thus becoming internally displaced persons (IDPs). The initial collection of the IDPs in few areas soon became more serious when more towns and communities became affected with sharp increase in the number of displaced persons. This was to become worse as the insurgents went on to occupied some of the local government areas in the three states. However, the Federal Government’s response to the crises have been in two folds with military action to restore security as well as humanitarian intervention spearheaded by the National Emergency Management Agency (NEMA). From the onset of the escalation of the insecurity to date, NEMA has continued to keep faith with the mandate given it towards the provision of basic supports to the IDPs. The agency, working with the stakeholders activated its National Contingency Plans in deploying the supports to everywhere the IDPs were found. At the heights of the displacement, the immediate neighbouring states including Gombe, Taraba, Bauchi, Plateau and as far as Kano, Abuja among others C M Y K

became the shelter of safety for the IDPs. There, NEMA was also with them distributing relief supports and providing necessary assistance required to alleviate their conditions. As at April this year, the number of IDPs in camps and host communities stood at 22, 882 in Adamawa State; 939, 290 in Borno; 139, 591 in Yobe States. In Bauchi the figure stood at 84, 667, Gombe 42, 587 and Taraba 62, 689. With time, most of the camps that had sprang up spontaneously were reorganised for better management and care for the IDPs. NEMA deploy its officers that are permanently stationed in the camps to manage and assist the people in every area of their basic needs. This is in addition to the regular delivery of relief supports comprising of both food and non-food items that are stockpiled and easily available for distribution . The Director General made it a point of priority to regularly review the condition of the IDPs and camp through personal visits as well as fortnightly humanitarian forum which brought together the stakeholders to discuss and fine tune the best available approaches. The forum comprises representatives of relevant Ministries, Departments and Agencies (MDAs), United Nations Systems, local and International non-governmental organizations. Beyond the shores of Nigeria, NEMA has taken humanitarian supports to Nigerians who fled across the borders to the Republics of Chad, Niger and Cameroon. Recently too, the agency received more than 17, 000 Nigerians in Geidam, Yobe State after they were forced to return home from the Republic

of Niger over security issues around the Lake Chad areas where they were engaged in their fishing businesses. A transit camp was opened to cater for the returnees before they were fully transported to their various states. With the recent liberation of the communities that were hitherto occupied by the insurgents, the agency has also undertaken needs and damages assessment in preparation for the required supports to enable the people return to their homes. The assessments, which were first conducted in Adamawa state saw NEMA officials with the relevant stakeholders going to the affected communities in carrying out the damage assessment in which the records showed huge losses to public infrastructure and private property. These include offices, bridges, schools, hospitals, churches, mosques, homes, banks, markets, shops, etc. It was one of the foremost steps towards creating confidence for the return of the IDPs. As expected, some IDPs have since returned home to the communities that were found to be less damaged. In Yobe State, though there exist fewer number of formal camps, most of the displaced persons live with host families while others have fled to neighbouring states. Over the years, relief supports delivered by NEMA are distributed to them with the help of the State Emergency Management Agency (YOSEMA). Also, a special needs and damage assessment have been carried out in liberated communities in the state preparatory to early return of the people to their homes. The areas visited included some of the worst affected communities which included Gujba, Gulani and Kanama.

*Mr . Ezekiel is of the National Emergency Management Agency, Abuja..

20—Vanguard, MONDAY, JUNE 1, 2015 Send Opinions & Letters to: opinions1234@yahoo.com

A nation’s collapse and revival

AST week was one of despair and hope. Collapse and revival. It was a week of exit, and an entry in which President Muhammadu Buhari gave a loaded inaugural speech which like a mini-skirt was revealing, but gave nothing away. Will he probe the past? He seems to say no, with his declaration that “The past is prologue” but he recounted with some anger that $20 Billion was spent producing darkness rather than needed electricity. Will he be a team player; will his party’s decisions be binding; will he break ranks if necessary? Difficult to say as his speech simply declares “I belong to everybody and I belong to nobody” So he will be his own man. Nigeria’s foreign policy he said, may depend on “…any leadership role that Africa expects of it” It may be a way of saying that Nigeria will not be pushy. But it has no alternative than to play a major leadership role on the continent. Good enough, 91-year old President Robert Mugabe of Zimbabwe was at the inauguration; he is one

leader that underscores the point that primarily, it is not a leader ’s age that matters, but the age of his ideas. We face a myriad of challenges including insecurity, corruption, fuel and power shortages. On these Buhari reassures: “We can fix our problems” Surely, we can fix our problems, but this will depend on the constellation of the ideas and policies of his administration, the type of team he puts together; its commitment and readiness to make sacrifices. He promised a clear separation of powers and that the legislature will need to keep to its briefs of law making and over sight functions. The implication is that the infamous GhanaMust-Go bags that were common at the onset of civil rule, will disappear. Buhari also expects the judiciary to cleanse itself. It might mean that the rule of law and court orders, will be obeyed. Then, citizens can keep a watch brief over the judiciary. Within the confines of the constitution, he promised to ensure responsible and accountable governance at Federal, State and Local

Government levels. I am not sure what he can do about the states including those under APC control, but in a federal setting, the Government at the centre should have no business with local governments; states should have the powers to merge or increase them, and be solely responsible for their funding. If there will be true change, such basic reforms are urgent and inevitable. Worker and employer organisations and the press were in place when Buhari was first Head of State thirty one years ago, then the relationship was rough. Now, there is a more even playing field. But change has also come with the emergence of civil society organisations and the social media. Mutual existence is necessary. But a

Surely, we can fix our problems, but this will depend on the constellation of the ideas and policies of his administration, the type of team he puts together; its commitment and readiness to make sacrifices

urning ac hie o Semenitari:: TTurning achie hievvements int into recognition By Bashir Ibrahim Hassan

I "

T had long come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things.” This statement by the Italian artist Leonard da Vinci words best typifies how Henry James Semenitari has approached his work at Unity Bank Plc since he took over the reins of its management as MD/CEO in 2014. Semenitari came to Unity Bank is an accomplished banker with 22-year experience behind him in top rated banks including FCMB, UBA, and Diamond Banks. He is now making wonderful things happen at Unity Bank—especially with the bottom-line. Despite the downward turn of the economy, for example, the bank declared a profit-aftertax of N10.69 billion in 2014 financial year. And both at home and abroad, these achievements are being recognised. In Nigeria, the long list of awards of recognition that have come to him include: the FG 100 Business in Nigeria; Leadership Best Banker of the year 2014; BusinessDay’s Top 25 CEO’s of Quoted Companies; City People Best Managed Bank and Best CEO of the year 2014. From abroad the UK-based Europe Business Assembly (EBA) nominated Semenitari as Manager of the Year in recognition of his “excellent industry reputation, effective strategy and continuing expansion of the enterprise.” The EBA is a multidimensional

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organisation that focuses on economic, educational and leadership development issues. It collaborates with UK’s Institute of Directors whose members include the most skilled and experienced business leaders in the world. The Leadership Best Banker of the Year award was given in recognition of how Semenitari rallied Unity Bank from a shrinking assets base to the position of the seventh largest bank in Nigeria with shareholders’ fund of N51.2 billion. With this ranking Semenitari was assured of position in the list of top 25 CEO’s of quoted companies in Nigeria organised last month by BusinessDay Newspaper.

But perhaps the most inspiring recognition comes from the invitation the Unity Bank MD/CEO personally got from the Clinton Global Initiative (CGI) to become its member;the CGI community, to which Semenitari is beckoned to join is due to the success he recorded in his career

warning; the social media, is a double edged sword. The days preceding the inauguration were indeed tough as Nigeria virtually collapsed. There was a visible absence of governance; a state of selfinduced anarchy. The country was in comatose; no fuel, no electricity, private generators shutdown for lack of diesel and petrol. Even banks and telecommunication companies for whom money-making is the only religion, could only provide basic services. I knew things were bad, but I did not prepare for what I got when I confidently strolled into the Murtala Muhammed Airport (MMII) in Lagos hoping to catch any available flight to Abuja. The sight was like the Balogun market; over flowing with people, chaotic. How did I miss news that flights were cancelled the previous day for lack of aviation fuel? It was morning, but no flight tickets for the day. The options were not good; take to the road, stay in Lagos? Then an old friend I met informed me that tickets were actually being sold, not at the airline counters, but through touts who set the cost; factoring in actual cost, bribe for airline staff and their own profit margins. It was like the oil marketers' dealings with Nigeria. In Abuja, chaos was noticeable in a city that, unlike Lagos, was noted for some calmness. Apart from the queues and battles at the fuel stations, school children were on the streets; turned out by their teachers who say they had enough suffering. An administration that could still sack any public officer; from a private to the Chief of Defence Staff; a messenger to the Permanent Secretary, could not call a petrol attendant to order.

Indeed, the paper had more tangible and public interest reasons for selecting the likes of CEO Semenitari for the awards. Despite categorising Nigeria’s Capital Market as the worst-performing among the emerging markets in Sub-Saharan Africa last year, the 25 CEOs that made the list added over N333 billion to shareholders funds and realised N107.1 billion as profit after tax as at the end of 2014 compared with the N66.8 billion they realised in the corresponding period in 2013. But perhaps the most inspiring recognition comes from the invitation the Unity Bank MD/CEO personally got from the Clinton Global Initiative (CGI) to become its member through a letter signed by both former US President Bill Clinton and his wife Hillary, who recently declared her intention to run for election as President of the United States come 2016. The CGI community, to which Semenitari is beckoned to join due to the success he recorded in his career, is all the more inspiring because of its approach to developing innovative solutions to some of the world’s most pressing challenges. A philosopher once said about success: “When you feel great, dare to help someone else feel great too.” The CGI model demands each member to make a commitment to action—a new, specific, and measurable plan that addresses a shared concern. Through this approach, the CGI has 3,100 commitments in over 180 countries, which are already transforming the lives of more than 430 million people -- making more people feel great too. Unity Bank Plc, which Semenitari heads today, came into existence from one of the largest mergers in Nigeria’s banking history. Unity Bank, which has competences in investment, corporate and retail banking, commenced operation in

The Department of Petroleum Resources charged with regulating the industry, simply went into a coma. Many states gradually stalled with lack of electricity and petroleum products, violence and unpaid salaries. The country seemed to be there for the taking. The Jonathan administration had become a long distance runner that collapsed with the finishing line in sight. Then suddenly, like a wor n out machine sprouting to life, the administration jerked into life. There were a flurry of last minute activities. The close was a statement that appears contentious, but rings true. President Jonathan told a gathering on the eve of handover “Nigerians will begin to see that there is no difference between political parties because even as we see, there is no difference between PDP and APC. If you look at the number of people that moved from PDP to APC, then you will really see that both parties are almost the same” Perhaps, the most befitting gift for the Jonathan administration as it spent its last day in office, was the news that its Minister of Agriculture, Dr. Akinwumi Adesina had snatched what had seemed an elusive crown for Nigeria by winning the presidency of the fifty-year African Development Bank. Despite perceived differences, Nigerians of all parties and persuasion had rallied round Adesina to hand him a landslide victory. This is the spirit we need to carry on as President Buhari settles into office to begin the challenging task of presiding over the affairs of Africa’s most populous, most conscious, most assertive, intellectually endowed and politically vibrant country.

January 2006 following the merger of nine financial institutions. It is now the leading retail bank in Nigeria with 256 business offices and cash centres spread across the 36 state of the federation. Overall, the bank has witnessed relatively stable growth over the years, especially from 2010 to date, except for a brief sharp drop in exceptional earnings in 2011. For example, for the financial year ended December 31, 2010, gross earnings amounted to N61.36 billion, representing 36.46% increase over the previous year ’s figure of N44.96 billion. Profit after tax stood at N12.41 billion in 2010, as against loss of N15.86 billion in 2009. Despite stringent competitive regulatory environment in the year 2012, the bank posted an impressive performance. For the financial year ended December 2012, customer deposit grew by 1.19% from N266.88 billion to N270.06 billion. During the same period shareholders’ funds grew by 17.43% from n43.82 billion in 2011 to N51.46 billion in 2012. In 2013 the Bank recorded gross earnings of N45.393 billion, up from N38.9 billion in 2012. Net interest incomes rose from N18 billion to N21 billion, while total operating incomes stood at N29 billion, compared with N27 billion in 2012. Semenitari consolidated these steady growths with right issues and private placement of N39.224 billion in 2014, which were swiftly oversubscribed much to the surprise and delight of the MD/CEO. The over subscription was a pointer to the growing confidence by investors in the bank under the leadership of Semenitari whose achievements are being given due recognition home and abroad. •Mr. Hassan , a business development executive, wrote from Abuja.

JUNE1, 2015

CBN releases 2013 controversial report zEarned interest of $29m from external reserves zForex inflow rose to $146.2bn, outflow $43.4bn z$28bn spent on importation of goods By OMOH GABRIEL

he Central Bank of Nigeria (CBN) weekend released the 2013 annual report that led to suspension of former governor, Sanusi Lamido Sanusi. The Financial Reporting Council of Nigeria had raised issues with the accounts, saying it needed some detailed explanation as required in the International Financial Reporting Standards. It was on the basis of issues raised by the Council that the former CBN Governor was suspended. However, the CBN said that it has formally released its audited financial statements for 2013 and 2014 and has fully adopted the International Financial Reporting Standards (IFRS) for the financial statements. The CBN annual report said the bank made a total earnings of $0.29 billion (N44.41 billion), from the external reserves in 2013 representing an increase of 7.1 per cent over the level in 2012. According to the CBN, in order to earn additional income from the external asset management programme, the CBN signed a Master Securities Lending Agreement with JP Morgan Chase to participate in its securities lending programme. The custodian was allowed to lend the securities purchased by the fund managers to eligible borrowers in accordance with the guidelines. It said that total earnings from the securities lending operations from the inception of the programme in December 2007, amounted to $54.93 million, of which $1.36 million was realised in 2013, representing a

decline of 41.8 per cent, compared with $2.33 million earned in 2012. The released financial statements indicate that the net income of the bank for 2013 amounted to N209.6 billion while that of 2014 was N35.4 billion out of which 80 per cent have since been remitted to the Federal Government of Nigeria in accordance with the Fiscal Responsibility Act. The balance of 20 per cent was also transferred to the Reserves within the bank.

The report said that the bank in 2013, recruited 771 personnel, consisting of two executives, 427 senior and 342 junior staff. This was made up of 276 female and 495 male. The bank, however, lost the services of 27 staff through death; 15 through voluntary retirement; 72 through mandatory retirement; and 10 through resignation. Furthermore, the appointment of nine staff was terminated, while 27 were dismissed. The staff strength stood at 6,594,

compared with 5,983 in 2012. The report said: “Available data showed that total foreign exchange inflows through the economy rose by 22.9 per cent to $146.27 billion in 2013. Of this, inflows through the CBN and autonomous sources amounted to $41.07 billion and US$105.20 billion and accounted for 28.1 and 71.9 per cent, respectively. A disaggregation of the inflows through the autonomous sources showed that invisibles accounted for $98.53 billion; non-oil exports, $6.31 billion; and external account, $0.36billion. The invisibles comprised over-the-counter purchases (OTC) and domiciliary accounts which amounted to $62. 93billion (63.9per cent) and $35.60 billion (36.1 per cent), of the total, respectively. Continues on page 22

LAUNCH - From Left: Chief Executive Officer, Etisalat Nigeria, Matthew Willsher; Managing Director, Guaranty Trust Bank, Segun Agbaje; and Chief Marketing Officer, Etisalat Nigeria, Angelone Francesco at the launch of “GTEasySavers” powered by Etisalat and GTBank which held at Guaranty Trust Bank headquarters on Tuesday, May 26, 2015 C M Y K

22 — Vanguard, MONDAY, JUNE 1, 2015

Economy Inaugural speech focused, reassuring — Experts By Babajide Komolafe

MEETING - From left: Mr Yaw Nsarkoh, MD, Unilever Nigeria PLC; Mr Paul Polman, Global CEO, Unilever; Martin Uden, British Deputy High Commissioner; Mr Thomas Griffin, MD, Control Risk, West Africa and Mr Bruno Witvoet, Executive Vice-President, Africa, Unilever during a breakfast meeting with Unilever Global CEO in Lagos.

CBN releases 2013 controversial report Continued from page 21 “Aggregate foreign exchange outflows through the economy rose by 17.9 per cent above the level in 2012 to $43.64 billion. The development was attributed to increased Dutch auction utilisation, national priority projects and external debt service by 27.9, 4.3 and 2.3 per cent, respectively. In addition, $1.00 billion was transferred to the Nigeria Sovereign Investment Authority (NSIA) account during the year for investment. “Overall, a net inflow of $102.63billion was recorded in 2013, compared with US$81.99 billion in the preceding year. Foreign exchange inflows through the CBN fell by 12. 2 per cent to $41.07 billion in 2013. The inflow from oil exports declined by 13.1 per cent on a year-on-year basis, occasioned by oil theft and pipeline vandalism in the Niger-Delta, which affected the oil production and volume of crude oil exported. “The non-oil component of the inflow through the bank also declined by 3.3 per cent, compared with the level in the preceding year. An analysis of the latter showed that wDAS/ rDAS purchases and interest earnings on reserves fell by 98.6 and 47.6 per cent respectively, from the levels in 2012. Other official receipts rose by 29.0 per cent above the level in 2012 to US$2.97 billion, while receipts of $0.99 billion was realised from the issuance of sovereign Eurobond. In contrast, outflows of foreign exchange through the bank rose by 20.0 per cent to $42.32billion in 2013 driven by the 27.9, 4.3 and 2.3 per cent increases in outflow through wDAS/ rDAS utilisation, national priority projects, and external C M Y K

debt payments, respectively. Further analysis showed that wDAS/rDAS and inter-bank sales rose by 33.8 and 136.1per cent, to $25.52billion and US$3.94billion, respectively, reflecting increased demand at the spot segment. The wDAS/ rDAS-Forward, swaps, and BDC sales, however, fell by 71.6, 51.1 and 4.3 per cent, respectively, from the levels in 2012. “Other official payments” were 22.2 per cent below the level in 2012 and amounted to US$5.27 billion. “The decline was driven largely by the 38.9 and 34.1 per cent reduction in miscellaneous outflow and the Nigerian National Petroleum Corporation/Joint Venture (NNPC/JVC) Cash calls funding, respectively. Under this category, the NNPC/JVC cash calls accounted for 64.6 per cent, while miscellaneous outflow was 1.3 per cent of the total. Furthermore, payments to international organisations and embassies, parastatals and for estacode rose by 40.9 and 11.2 per cent, and accounted for 12.3 and 21.8 per cent, respectively, of the “Other Official Payments”. Drawings on

The bank now has full IFRScompliant financial statements for the years ended 31st December 2013 and 31st December 2014

L/Cs fell by 23.4 per cent and accounted for 1.0 per cent of total outflows through the CBN.

he external debt service and out-payments for the national priority projects, however, rose by 2.3 and 4.3 per cent and accounted for 0.7 and 0.2 per cent, respectively, of total outflows through the bank. Overall, a net outflow of $1.25 billion was recorded through the bank in 2013, compared with a net inflow of $11.53 billion in the preceding year. 2013 annual report said “Sectoral utilisation of foreign exchange in 2013 rose by 28.8 per cent to $54.2 billion over the level in 2012. Visible trade imports, at $28.1 billion or 51.8 per cent of the total, declined by 2.4 per cent, compared with $28.8 billion in 2012. Outpayments on invisible trade, however, rose by 96.4 per cent to $26.1 billion or 48.2 per cent of the total, compared with $13.3 billion in 2012”. It further said: “Analysis of visible trade imports showed that foreign exchange utilisation for the agricultural, industrial and mineral subsectors grew by 23.1, 11.5 and 10.5 per cent to $0.3 billion, US$8.4 billion and US$0.4 billion, respectively, from the levels in 2012. Manufactures, food products, transport and oil sub-sectors, however, declined by 10.3, 7.4, 15.4 and 5.5 per cent to US$4.2 billion, $5.1 billion, $1.5 billion and US$8.2 billion, respectively. Foreign exchange utilisation under invisible imports was driven largely by financial sector services, which accounted for $22.2 billion, representing an increase of 123.3 per cent over the level in 2012. Out-payments for Continues on page 23

conomic experts have described the inaugural speech of President Mohammadu Buhari as focused and reassuring. They said the inaugural speech though commendable, is not a speech on the economy. Commenting on the inaugural speech, Managing Director/Chief Executive, Financial Derivative Company Limited, Bismark Rewane said, “It was a very good speech. It was focused. It dwelt on the key issues. The speech was more of a governance speech, addressing core areas of governance. He talked about blocking leakages and the war against corruption. I think there would still be a speech on the economy after he has studied the handover notes.” In his comments, Managing Director/Chief Executive, Partnership Investment Plc, Mr. Victor Ogiemwoyin said, “The President’s speech was very comprehensive on what our current problems are and was very forthright in admitting that the economy is at a low ebb. “He has also assured us that the problems are not insurmountable. These are reassuring words and will bring confidence to Nigerians. There is a feeling that the problems also present opportunities to deal with long standing issues that require political will. “We expect immediate and rapid policy decisions to address the economic issues already identified like the power situation and unemployment. We expect a sophisticated government that will focus on e-government to help reduce possibilities of corruption and streamline procedures with greater transparency.” According Mr. Emeka Madubike, Chairman, Association of Stock broking Houses of Nigeria (ASHON), inaugural speech dwelt on the problems that have been confronting the nation. “What we need now is the grace of God to see us through this trying time.” In his inaugural speech, President Buhari identified insecurity, pervasive corruption, the hitherto unending and seemingly impossible fuel and power shortages as the immediate priority for his administration. He also blamed the country’s poor economic performance over the decade on the poor power situation. He said, “At home we face

enormous challenges. Insecurity, pervasive corruption, the hitherto unending and seemingly impossible fuel and power shortages are the immediate concerns. We are going to tackle them head on. Nigerians will not regret that they have entrusted national responsibility to us. We must not succumb to hopelessness and defeatism. We can fix our

There is a feeling that the problems also present opportunities to deal with long standing issues that require political will.

problems. However, no matter how well organized the governments of the federation are they can not succeed without the support, understanding and cooperation of labour unions, organized private sector, the press and civil society organizations. I appeal to employers and workers alike to unite in raising productivity so that everybody will have the opportunity to share in increased prosperity. The Nigerian press is the most vibrant in Africa. My appeal to the media today – and this includes the social media – is to exercise its considerable powers with responsibility and patriotism. My appeal for unity is predicated on the seriousness of the legacy we are getting into. With depleted foreign reserves, falling oil prices, leakages and debts the Nigerian economy is in deep trouble and will require careful management to bring it round and to tackle the immediate challenges confronting us, namely; Boko Haram, the Niger Delta situation, the power shortages and unemployment especially among young people. For the longer term we have to improve the standards of our education. We have to look at the whole field of medicare. We have to upgrade our dilapidated physical infrastructure.

Vanguard, MONDAY, JUNE 1, 2015 — 23

Buhari, watch out for the cabals W

hen in 1999 P r e s i d e n t O l u s e g u n Obasanjo assumed office as President of Nigeria, one of his intentions was to create a state-backed Nigeria enterprise that could compete with multinationals anywhere in the globe. So, Mr Obasanjo encouraged what came to be known as Corporate Nigeria. Many enterprising Nigerian businessmen were brought close to the seat of government. Many used the opportunity to carve for themselves business empires. Instead of seeking sectoral benefits for the organised private sector, they sought concessions and waivers for their businesses and cronies. Down the line, members of Corporate Nigeria floated Transnational Corporation of Nigeria. Nigerians thought that these men will seek the overall benefit of the nation and make the company work. Rivalries and board squabbles crippled Transcorp and it had to be sold out. When Yar’adua became president, many of these big boys who are today’s cabal, almost went bankrupt and could not pay their bills. Unfortunately, President Yar ’adua took ill and eventually died. At the death of Yar ’adua, these men resurfaced and rallied round President Jonathan. They were not only close to the President, they became members of his economic team. Instead of seeking the welfare and general progress of the nation and the economy, they once again went in for the kill.

This time in the name of membership of Economic Management Team, they shared available positions and took over the commanding heights of the economic sector where they operate. Those in the oil sector became oil merchants. Importation of petroleum products took the place of local refining. They imported and sold to government and fuel subsidy became a racket and jobs for the boys. The President and the Minister of Petroleum Resources were taken hostage by the selfish and anti-people advice from these self-styled overnight economists. Instead of insisting on reviving the refineries, they saw it better and cheaper to import petroleum products all in an attempt to enrich themselves. Tank farms sprung up here

If the refineries were working and all the depots and storage facilities were in order, no cabal could have had the effrontery to hold the nation to ransom

and there. At the last count, over 82 portfolio businesses were importing fuel and claiming subsidy. President Jonathan at a point not knowing what to do to these men, called them a cabal that has hijacked the fuel importation and distribution process. This cabal last week showed their true colour in the name of oil marketers by holding the nation to ransom. They refused to distribute fuel on the ground that government owed them. What was at stake was the fact that there was an exchange rate differential of about N159 billion. The same oil marketers and depot owners who are the creation of successive administrations in the country got together to sabotage free flow of fuel in the country. These men who were the principal actors in the fuel scarcity saga were driven by profit and inordinate ambition to unduly benefit from fuel subsidy fund. In the bid to make money, oil marketers and depot owners threw caution to the wind and stood between the people and free flow of fuel in the country. This explains why the country was enmeshed in scarcity of the product with attendant fuel queues at filling stations few weeks to the crucial inauguration of a new government. To show the extent this cabal has entrenched themselves in the system, Nigerian National Petroleum Corporation (NNPC) is now using private depots to store fuel, a development that gives owners of the facilities undue advantage to create

intrigue by a group of people engaged in a secret political agenda. T h e monstrous group tagged cabal is deeprooted in government, thus making input into the economic policy of the state through c h a n n e l s camouflaged as Organised Private Sector and Economic Management Team of the J o n a t h a n Administration. This is contrary to the makeb e l i e v e zPresident Muhammadu Buhari posturing by scarcity of the product at their government that the groups whims. are faceless. They are not. NNPC shamelessly They are notable business abandoned its own depots tycoons in and out of and allowed them to rot while government. As long as the patronising depots owned by status quo remains, it is doubtful the cabal. Why did NNPC opt if any government would ever for private depot to store its muster enough courage to put a imported petrol? check on the cabal if it continues Besides, the Federal being errant. Government ought to have The muscle flexed last week by brought back the ailing the group has shown that it has refineries, by ensuring that the capacity to cause enormous their turnaround maintenance distortions in the polity if the was done. If the refineries were government of the day decides to working and all the depots and show any measure of altruism. If storage facilities were in order, things ever get out of hand, the no cabal could have had the cabal which is more of a creation effrontery to hold the nation to of government, could assume the ransom. Since the last days of dimensions of global notorious President Umaru Musa mafias. Yar’Adua of blessed memory, It is left for President the five-letter word ‘cabal’ has Mohammadu Buhari to decide become a popular syllable in how to handle this mafia before our political lexicon. It is a they cripple his government also. word that connotes a secret

Cover Continued from page 22 business, communication, education and transport services rose by 22.2, 31.9, 14.9 and 15.8 per cent to $1.3 billion, $0.5 billion, $0.3 billion and US$1.3 billion, respectively, over the levels in the preceding year. “Similarly, distribution and other services grew by 13.9 and 11.6 per cent to $0.1 billion and $0.3 billion, respectively, from the levels in 2012. Tourism, construction and engineering-related services, and health, however, fell, by 73.4, 22.0 and 11.8 per cent, to $0.02 billion, $0.09 billion and $0.002 billion,

CBN releases 2013 controversial report respectively, from their levels.

ccording to the CBN “The IFRS requirement implies that the financial statement of the CBN be consolidated with those of investee entities, namely Nigeria Export-Import Bank, Abuja Securities and Commodities Exchange, Bank of Industry, Bank of Agriculture, Nigeria Interbank Settlement System, National Economic Reconstruction Fund,

Financial Markets Dealers Quotation, African Finance Corporation and Agricultural Credit Guarantee Fund. “Thus, the bank now has full IFRS-compliant financial statements for the years ended 31st December 2013 and 31st December 2014, respectively. Hitherto, the bank’s financial statements had been prepared under the Central Bank of Nigeria (CBN) framework. Meanwhile, the adoption of IFRS by the CBN or any central bank the world over is not without

difficulties in view of a number of challenges that include the non-profit-oriented mandates of central banks in their roles of price and financial system stability and economic growth that could be contradicted by the application of some of these IFRS standards, which are for direct profit-motivated commercial entities. “Another challenge is the statutory constraints on the central banks. This explains why very few central banks have adopted the IFRS. Many of the

central banks which claim IFRS adoption did so partially within statutory constraints. The CBN was, however, able to work around these challenges to conclude a successful adoption of the IFRS. It is worthy of note that the CBN has been able to conclude IFRS adoption within a period of two years as global experience indicated that many of the IFRS adopting central or reserve banks took longer periods of time to conclude IFRS adoption”.

C M Y K

24 — Vanguard, MONDAY, JUNE 1, 2015

Business & Economy

13 ships arrive Lagos ports with food, petroleum products

hirteen ships carrying various products have arrived at the ports in Lagos, the Nigerian Ports Authority (NPA) has said. This is contained in the daily ‘Shipping Position’ published by the NPA, which was made available to newsmen. The NPA said that seven of the ships arrived with food products, including rice in bags, frozen fish and palm oil. It said that the remaining six ships sailed into the ports with petroleum products, including petrol, base oil and diesel. The NPA also said it was expecting the arrival of 35 ships at the Lagos ports from May 28 to June 17. According to the NPA, 16 of the expected ships would sail in with containers, while four others would arrive with general cargo. It said food products, including frozen fish, bulk salt, buckwheat, bulk sugar and crude palm oil would be brought in seven ships. Petroleum products, including petrol and bulk gas, are expected to be brought in four ships, the NPA added.

CBN says foreign reserves rises to N29.6bn

he Central Bank of Nigeria (CBN) says the nation’s foreign exchange reserves stood at to 29.61 billion dollars as at May 27. This is contained in a post on the bank’s website on Thursday. The CBN said the figure was an increase of 0.3 per cent from 29.52 billion dollars recorded on April 27. It said the 29.61 billion represented the ‘gross’ amount while 28.74 billion was ‘liquid’ while 875 million as ‘blocked’. CBN had in 2014 relied heavily on external reserves to support the Naira which came under pressure following a fall in the price of crude oil. According to the CBN, the continuous pressure on the foreign exchange market is due to the rise in the internal demand for the dollar. The price of crude at the international market now hovers between 62.39 and 65 dollar per barrel C M Y K

AfDB expresses concern over Africa’s energy shortage A

frican Development Bank (AfDB) has expressed concern that the continent’s energy deficit remains large in spite of remarkable achievements in continental development. The view is contained in the fifth edition of the bank’s Annual Development Effectiveness Review (ADER) issued at its 50th Anniversary and Annual General Meeting in Abidjan on Wednesday.

The publication, posted on the bank’s website, is part of

a series produced by the bank’s Quality Assurance and Result’s Department. It states that 70 per cent of the bank’s indicators are on track. It provides an overview of Africa’s development achievements and trends, reviews the bank’s contribution to development results and looks at how well it manages its operations and own organisation. “While acknowledging that

UNVEILING - From left, Hafeez Oyetoro (Saka); Chidinma Ekilem, MTN Ambassadors; Mr Richard Iweanoge, General Manager, Consumer Marketing, MTN and Olanrewaju Fasasi (Sound Sultan) at the unveiling of MTN 2015 brand ambassadors in Lagos. Photo Lamidi Bamidele.

Attract more FDI into the country, NBCC urges Buhari By NAOMI UZOR

igerian British Chamber of Commerce, NBCC, has urged the incoming government to improve the business environment in Nigeria in order to attract more foreign direct investments into the country and ensure economic and sustainable development. The President of NBCC, Prince Adeyemi Adefulu, made this call in a congratulatory letter to President Muhammadu Buhari, as the grand patron of NBCC, saying that, the Policy Framework for Investment (PFI) outlines ten policy areas which affect the business climate, including: tax, corporate governance, anti-corruption, infrastructure, competition and investment. “To develop a sound business environment, there is a need for formalised process to evaluate these business conditions. Such evaluations require input from bilateral member organisations such as the NBCC to provide industry and investor feedback to allow the continuous adaptation to changing economic conditions” he said. Adefulu noted that expectation in the country is high and active management of this wave of optimism together with the strategic and systematic planning of long, medium and short-term sustainable solutions to kick start the economy alongside

an effective implementation and delivery model will be paramount. “The important role that industry and private sector stakeholders will play in this development is one I am sure is high on your agenda” he stated He said rebuilding Nigeria’s deteriorating infrastructure such as Power, Roads, Water and ICT must be a critical pre-occupation of this government, as this has been discussed severally. “Without the necessary infrastructure to propel Nigeria into a medium-income economy, its ability to compete on the global front and create jobs is compromised. We note with dismay that successive governments over the years have spent enormous amounts of money trying to fix power and roads in Nigeria, with relatively insignificant impact. “ As the revolution in the Nigerian telecommunication industry has shown, Nigeria cannot provide all infrastructure but must encourage private sector investment by appropriate policies. We must muster the same political will in critical areas to which the private sector will respond enthusiastically. “The NBCC would gladly work with government in whatever capacity and encourage foreign investment in the country in the development of much needed infrastructure” he stated.

Africa is making gradual progress, the report notes that the continent’s energy deficit remains very large. The overall electrification rate increased from 38 per cent in 2005 to 42 per cent in 2013, even as populations grew at a faster rate. “Average electricity consumption also edged up from 666 to 690 KWh/year. “However, Africa is still far behind other developing regions, ” the publication states. The review indicates that AfDB is contributing to the energy sector in Africa. “The bank’s approach to supporting the energy sector has evolved over the years. The 1994 Energy Sector Policy concentrated primarily on institutional reforms and capacity development in the energy sector, with the goal of helping to unlock private investment. “We helped to improve pricing policies, management practices and maintenance regimes,” it further states. The report states that after a few years, “it became clear that p1rivate investment was not forthcoming, and therefore the bank decided to support its regional member countries by scaling up its investments in major infrastructure development. “For the past two decades, some 12 per cent of AfDB investments have gone into the energy sector. Most went towards building national generation capacity and distribution networks, with an emphasis on rural electrification to promote inclusive growth.” Since 2009, the bank has contributed to financing more than 1,900mw of new generation capacity and over 15,000 km of transmission lines, according to the review. “Through these efforts, we have provided 567,000 people with new electricity connections and over 14 million people with improved access to electricity,” the review states. Pursuant to the bank’s twoprong objectives of inclusive growth and transition to green growth, the review notes that AfDB has provided 32 billion dollars in lending, knowledge and advisory services. It adds that the bank plans to set up centres of excellence in biomedical science and engineering to build human capital for the continent.

Vanguard, MONDAY, JUNE 1, 2015 — 25

Banking & Finance By BABAJIDE KOMOLAFE

nalysts at the Financial Derivatives Company Limited have expressed support for the removal of fuel subsidy saying it would reduce the pressure of the exchange rate of the naira and lead to long term appreciation of the national currency. “More importantly, because there is an inflated import bill due to the subsidy scam, subsidy removal will reduce the pressure on the currency and the naira will appreciate in the medium term”, they said in the FDC Economic Bulletin issued last week. They noted that removal of fuel subsidy will produce short term gain but long term gain. “Subsidies are reverse taxes and if removed will reduce the disposable income of consumers in the short term. However, it will result in an efficient redistribution in income, spur a rehabilitation of the refineries and an efficient oil industry in the long run; short term pain but long term gain”, they said. Titled, “Petroleum Subsidy Scam: The Raping of Nigeria”, the bulletin stated, “The benefits associated with a subsidy removal are usually long term which will be solely determined by how the appropriated subsidy funds will be utilized to support optimal productivity within the economy. “If the subsidy were removed today, the pump price would jump to approximately N130, which is the total open market price when one considers both the landing cost of petrol at N115.77 and the margin for

Iran holds first trade exhibition in Nigeria

COMMISSIONING — From left: Branch Leader, VGC Branch, Fidelity Bank Plc. Isaac Usanga, Executive Director, Lagos & South-West Bank, Fidelity Bank Plc., Ikemuefuna Mbagwu and the representative of the Education Secretary, Eti-Osa LGA, T.O. Lawal at the commissioning of Classroom Block of Home Economics, Arts and Crafts Centre of Ikota Primary School, Ikota Lagos donated by Fidelity Bank Plc.

Subsidy removal'll reduce pressure on Naira — FDC transporters and exporters of N15.49 as of May 10, 2015.1 However, the pump price would be guided solely by

Subsidies are reverse taxes and if removed will reduce the disposable income of consumers in the short term

global oil prices and would not be at the mercy of oil marketers. Cur rently, scarcity initiated by the oil marketers due to delayed payments increased the pump price of petrol. The scarcity created an avenue for arbitrage, with the fuel being sold for as high as N600/ liter in the black market. The impact of the strike and fuel scarcity was severe, and almost crippled economic activities, as banks and even telecom operators had to reduce their operating hours due to the scarcity of

petroleum products. This situation could be averted if the issue of subsidy is addressed and put to rest. But addressing fuel subsidy is just one part of the hydralegged problem in the oil and gas sector. The passage of the PIB and a deregulation of the sector are required to fully enjoy an efficient oil and gas industry. In the long run, subsidy removal will assist the government financially and create a path to addressing the problems in the oil sector.”

Heritage Bank CEO to speak on innovation at CBN’s expo

anaging Director/Chief Executive, Heritage Bank Limited, Mr. Ifie Sekibo will speak on ‘Innovation in Financial Services Delivery’ at the annual Cashless Card Expo of Central Bank of Nigeria (CBN). This year ’s edition of the Expo is scheduled to hold from 23rd to 25th June 2015 at Eko Hotel & Suites in Lagos. Among other things, the expo features various awards for outstanding payment cards and services, in a bid to recognise and reward banks and financial services efforts at promoting the cashless policy. In addition to the presentation by Sekibo, Heritage Bank has been nominated for two of the Cashless Expo Award categories namely, “Best Co-branded Card of the year ” and “Best Industry innovation of the year”. Since it commenced operations in 2013, Heritage Bank has distinguished itself through innovative banking services which offer unique

customer satisfaction and unparalleled comfort and convenience to existing and new customers of the bank. This is reflected in the zero COT, with no hidden charges, offered to its numerous customers two months after it commenced operations. The nomination of the Bank for “Best Co-branded Card of the year ” and “Best Industry innovation of the year” awards at this year’s CBN’s Cashless Expo is in recognition of the various industry setting innovative epayment cards and channels introduced by the bank since it commenced operations in 2013. These include: ePiggy Card, for collecting change at merchants; 7411 Smart Travel Tourist Card, which enables visiting tourists in Nigeria to carry out card transactions easily; Mainasara Women and Youth Card, a scheme card to support women and youth development; Vineland Microfinance Bank Card, for customers of Vineland MFB to carry out transactions. Others are: Royal

Life Microfinance Bank Card, For customers of Royal Life MFB to carry out transactions, Miliki Living Patrons Card: for patrons of Miliki lounge to pay their bills within the Miliki premises only; and PMAN Card, For PMAN members to receive royalties and carry out transactions. Last year, Heritage Bank introduced the first transparent MasterCard in Nigeria. The beautiful MasterCard is designed to be physically transparent and to exhibit transparency in its service delivery. The Bank also introduced Nigeria’s pioneer portable POS solution christened “PortaPOS” to ride on the mPOS revolution, which is fast gaining acceptance worldwide. The PortaPOS, which is aimed at providing a seamless payment channel for merchants, was designed to address payment challenges within the retail payments space and also in support of the Cash-less Nigeria project of the CBN.

n furtherance of the Memorandum of Understanding (MoU) signed during the Nigeria Iran Joint Commission, the Islamic Republic of Iran will hold its first trade exhibition in Lagos Nigeria this month. Tagged First Iran Solo Exhibition in Nigeria, the exhibition will hold at the Landmark Center, Lekki, Lagos State, from Tuesday June 9th to Thursday June 11th. The First Iran Solo Exhibition will be declared open by the President of Iran Trade Promotion Organization and Deputy Minister of Industry, Mr.Valollah Afkhami Raivd, supported by the Iran Ambassador in Nigeria, Mr. Saheed Koozechi, while the Lagos State Governor, Mr. Akinwunmi Ambode, is the Special Guest of Honour. Among other things, the exhibition will feature over 40 Iranian companies in manufacturing, oil and gas, building and construction, infrastructure, health, furniture, interior decoration, and food industry. Sponsored by the Embassy of the Islamic Republic of Iran, The Trade Promotion Organisation of Iran and Landmark Center, the exhibition is organised by Pars Rastak International Conferences, Exhibition Research Services, in partnership with the Nigeria Iran Business Council (NIBC), Nigeria Association of Chambers of Commerce, Mines, Industry and Agriculture (NACCIMA), Nigeria Investment Promotion Council (NIPC) and the Nigeria Export Promotion Council (NEPC). Speaking on the exhibition, the Iran Ambassador in Nigeria, Mr. Saheed Koozechi, said that the exhibition is designed to expand trade relations with Nigeria. He said, “This exhibition will open doors of opportunities for both Iranian and Nigerian companies and businesses. It will help to identify each other’s capacity in order to deepen trade relations between the two countries. Right now, Iranian companies do not know the opportunities available in Nigeria. , and Nigeria is a very big market, especially with its big population and resources.

26 — Vanguard, MONDAY, JUNE 1, 2015

Economy

Investors cautious on new government Stories By EMEKA ANAETO, Economy Editor

rivate sector industry leaders have taken cautious positions in reaction to the change of government particularly at the national level in Nigeria, thus throwing the markets into limbo which may linger until definite statements on the direction of economic policies are made by President Mohammadu Buhari. Last Friday ex-president Goodluck Jonathan handed over Nigeria’s economy in perhaps its most trying moment since the advent of the current democratic dispensation. Economy analysts have highlighted the public sector and macro-economic challenges faced by the Jonathan administration in its last one year as a major source of concern in the private sector. Key amongst the challenges is the massive and sustained decline in government revenue due to lower crude oil prices. Inflation is also tiptoeing northwards while external reserves continue to dwindle as monetary policy tightening is almost reaching its elastic limit. Rising government debt, fuel scarcity crisis and epileptic power supply are also some of the challenges that the new government will have to grapple with to impact positively on the private sector. Against the backdrop of the foregoing, economy analysts at Afrinvest, a leading investment banking group in Nigeria, last weekend reiterated its outlook for key macro-economic indicators post transition. On its bear case it sees oil price trading below US$60.00 in the near to medium term while government revenue base will remain low. The analysts also forecast lower level of reserves which may inform further pressure on exchange rate even as they expect inflationary pressure to continue retaining its

average inflation rate of 9.5% for 2015. The analysts stated ‘’amidst these headwinds, we forecast a tempered growth in domestic economic activities as we retain our 5.0% GDP growth rate forecast for 2015”. Meanwhile contrary to what was observed in the foreign exchange (forex) market in recent weeks, rates at the BDC segment stayed calm at N220.00/US$1.00

While optimism for the new administration was high, market observers expect the forex rates across market segments to be broadly driven by reactions to policy signals emanating from the hand over to the new government coupled with any other policy direction that follows

on all trading days of the week. Forex market dealers believe the calmness observed in currency market may be linked to lower level of demand for the Naira as investors adopt a cautious approach to trading given short-term instability in the system as event leading to transfer of power from the J o n a t h a n administration to •Buhari Buhari-led government took government coupled with any place. other policy direction that While optimism for the new follows. administration was high, market As currency traders await the observers expect the forex rates forex policy direction under the across market segments to be new economy regime of broadly driven by reactions to Muhammadu Buhari, top of policy signals emanating from their wish list for the new the hand over to the new

administration is an overhaul of the nation’s foreign-exchange rules. “The market would love to see some restoration of foreignexchange flexibility,” said Dapo Olagunju, Access Bank’s treasurer in Lagos. “The question is, when will there be a meeting of minds?” “The market doesn’t move,” Mickael Avou Ahonzo, the Parisbased head of currency trading at Ecobank Transnational Inc., which operates across Africa told Bloomberg last week. “It’s frustrating. We’ve seen the same rate for the last one or two months. We don’t have many opportunities” to make money. Central Bank of Nigeria (CBN) is believed to have started talks with dealers about how to loosen the trading restrictions at the beginning of May, 2015 but no decision was taken in that direction by the Monetary Policy Committee (MPC) meeting held two weeks ago due to the ‘waitand-see’ position the committee took in respect of the advent of the new government. “There’s no change” yet to the currency regime, CBN spokesman Ibrahim Mu’azu told Bloomberg last week. “We have to see the direction of the incoming government.”

New governments at centre and states lament over economy, treasury A

s the political leaders who took over reigns of power at the national and state levels settle into offices today they have clearly given thumps down to their predecessors in the area of economic management First is the President Mohammadu Buhari who took over from Goodluck Jonathan last weekend and declared that Nigeria’s economy is in “deep trouble and needs careful management to overcome the impact of low oil prices, slowing growth, high unemployment and the security threat from Islamist group Boko Haram” Beyond the electioneering campaign and party leaders’ commentaries after the elections, this was the first time Buhari

would be commenting on the economy he is inheriting. At the states level it was all complain galore over the state of affairs in the treasuries as the new governor in Bauchi State Barrister Mohammed Abdullahi Abubakar said “I met empty treasury”. The new governor said this shortly after taking oath of office administered by the State Acting Chief Judge, Justice Rabi Talatu Umar at Abubakar Tafawa Balewa Stadium Bauchi adding that he is ready to make public figures of the state treasury to the people of the state that the state treasury is completely empty. He said: “The people will have to give us time to correct all wrongs perpetrated by the PDP

administration. The people have to understand and be Patients with us because it’s not going to be an easy task. “I want to assure the people of Bauchi state that we are equal to the task of bringing out the state out of the woods. The Bauchi report may have been tainted with political sentiment as the transition was from one political party leadership to another. But in Kano State where the hand over was between leaders of same political party (All Progressives Congress, APC) the Transition Committee set up by Kano State new Governor, Abdullahi Umar Ganduje, last week said that the outgoing governor, Rabi’u Kwankwaso, has not only left an

empty treasury but additional liability of N379 billion, second highest State indebtedness after Lagos State, also an APC state. Chairman of the 93-member (largest transition committee membership across the country including federal level) committee and Deputy Governor, Professor Hafiz Abubakar, who read the abridged copy of its final report stated that ‘’hard times await Kano and it might take patience to get along.” Abubakar, a professor of Food Nutrition gave the breakdown of liability by the Kwankwaso’s administration adding that the total capital receipt to the state between May 2011 and May 2015 stood at N 419.75 billion out of which N430.6 billion was spent. He further said total capital receipt by the 44 local government areas of the state within the same period stood at N346.591 billion which was expended on joint projects between the state government and the local governments. Abubakar who served Kwankwaso as Commissioner for Finance between 1999-2003 explained that the previous administration initiated over 4,000 projects, for which over N140 billion was paid to contractors with N4.5billion still outstanding

Vanguard, MONDAY, JUNE 1, 2015 — 27

Corporate Finance Stories by PETER EGWUATU

r. Rahul Colaco is the Managing Director of FrieslandCampina WAMCO Plc. In an interview with select journalists before the th company’s 60 anniversary in Nigeria which was held penultimate weekend in Lagos, he spoke about the challenging operating environment in the country and how Friesland Campina WAMCO has weathered the storm over the years. Other issues discussed was the local content policy of the Federal Government , some of the company’s Corporate Social Responsibility, CSR and the future prospect of the company amongst others. Excerpts: What is Friesland doing with regard to the Federal Government’s local content initiative? We support the Federal Government’s initiative on local content. About 90 per cent of our raw materials are sourced locally. We want to further increase our local content and support the Federal Government’s initiative to grow the agricultural sector. FrieslandCampina WAMCO pioneered the Dairy Development Programme (DDP) in August 2010. This is gradually developing into a full national programme as the company is dedicated to making the initiative a success by ensuring the transfer of technology know-how on milk production to Nigerian farmers. The company plans to further train and consult with farmers, with the support of the government. What has been the challenges facing your company and the manufacturing industry in general? There are many challenges facing the company and the manufacturing industry. We have infrastructure challenges like power, bad roads, security, competition, smuggling, exchange rate, etc. But we have been trying as a company to surmount some of these challenges. FrieslandCampina WAMCO Nigeria Plc will maintain its No. 1 position as the nation’s leading milk manufacturing company by investing in its people, capacity expansion projects and by being an excellent corporate citizen. How is FrieslandCapina impacting on the community? We are good corporate citizen. We have impacted positively on the community where we operate. We embark on structured programs that improve nutrition and enhance the lives of many Nigerians. FrieslandCampina WAMCO has over the years proven itself

We're committed to FG's local content initiative — Colaco, MD, Friesland Campina WAMCO

•Rahul Colaco to be a socially responsible company and is perceived as an excellent Corporate Citizen by stakeholders. At WAMCO, we believe CSR is an efficient strategy for a successful human and society development, especially for developing countries, like Nigeria. Our CSR programme is not only structured to address the developmental needs of communities but also to promote corporate governance, which is translated in our annual accounts, employee relations, business relations, etc. We have embarked on structured

We have embarked on structured programmes that improve nutrition and enhance the lives of many Nigerians

programmes that improve nutrition and enhance the lives of many Nigerians. Some projects we have carried out include: School Adoption: Donation of educational materials to facilitate learning in public schools. Support to 18 adopted schools during events such as inter-house sports, Prize Giving Day, etc; Provision of sustainable solar powered potable water to needy communities- 41 solar powered bore wells as of 2013; Funding research in Food Science in Higher Institutions. 6 Tertiary Institutions enjoy this benefit; Financial Award to Best Graduating Student in Food Science in the 6 selected Tertiary Institutions; Donation of products to charity homes and orphanages nationwide – 30 Homes What is the current financial performance of the company like? The company’s commercial and financial performance remained satisfactory in spite of the harsh business environment. Turnover increased by 5.14 per cent from N120.26 billion in 2013 to N126.44 billion in 2014. Profit

Before Tax (PBT) however decreased by 14.55 per cent from N19.31 billion to N16.50 billion as a result of significant increase in the cost of dairy raw materials, which was not fully passed on to consumers; increased operating expenses; and the write-off of Export Expansion Grant already taken into profit in the previous year. Can you tell us more about Friesland Campina WAMCO? FrieslandCampina WAMCO Nigeria Plc has been a necessary part of most Nigerian homes since 1954 through its iconic brand Peak Milk. It is a multinational, dairy manufacturing company and an affiliate of Royal FrieslandCampina of The Netherlands, one of the largest dairy cooperatives in the world. “We are the makers of Peak, Three Crowns and Friso brands of milk in Nigeria. Over the years, we have maintained leadership of the Evaporated milk market with the Peak brand. Guided by an inspiring mission, nourishing Nigeria with quality dairy nutrition, we are unwavering in the provision of quality, nutritious milk products for Nigerians” said Ore Famurewa, Corporate Affairs Director, FrieslandCampina WAMCO. Why are you marking the 60th anniversary of the company in a special way? 60 years in the life of a man is not a joke, so doing business in Nigeria for 60 years is not easy. FrieslandCampina WAMCO Nigeria Plc makers of Peak and other milk brands, celebrates 60 years of delivering consistent quality dairy nutrition to its teeming loyal consumers residing in East, West, North and South of Nigeria. Over the last 60 years, Peak has continued to be strong throughout the several changes in the market. We attribute our success to two things. First, our focus is to consistently nourish Nigerians with quality dairy nutrition in order to reach their Peak. Second, we continually explore ways of standing out of the crowded shelf and touching every part of the consumers’ lives. Peak has won industry recognition as an innovative and trendsetting brand that delivers superior dairy nutrition across life-stages. The brand succeeds because it always connects with its consumers, supports its key business partners and helps the general public to pursue their aspirations and reach for their Peak. To surprise loyal consumers, based on research and their expectation, Peak Evaporated Milk now comes in new packaging as well as a lid that opens and closes easily. It is called ‘Peak Easy Open’.

United Capital CEO gets international recogntion

nited Capital Plc, a financial and investment services firm has been awarded the 2015 Banking & Finance Firm of the Year (Nigeria) by the UK based Corporate LiveWire. The Corporate LiveWire Global Award focuses on recognizing global excellence in the financial services sector. While presenting the awards, Jake Powers, Publisher of Corporate LiveWire, said, “This is our biggest and most in-depth awards winner to date and we have honoured some of the most well-known advisory firms in the world including PwC, Clifford Chance and Morgan Stanley.” He noted that the firm was recognized as a result of its sustained leadership in capital market issues in both corporate and public sector as well as its efforts towards securing significant new mandate in Asset Management and Trusteeship.

Dentsu Aegis Network acquires stake in Media Fuse Nigeria

entsu Aegis Network, a global player operating in 110 countries, has bought into Media Fuse, a full-service media independent agency in Nigeria. The relationship between the two marketing communication firms now gives birth to a new firm Media Fuse Dentsu Aegis Network. Dawn Rowlands, CEO of Dentsu Aegis Network, subSaharan Africa, said in Lagos that the company which is made up of eight global network brands - Carat, Dentsu, Dentsu Media, iProspect, Isobar, mcgarrybowen, Posterscope and Vizeum-was making investment in Media Fuse based on the Network’s strong belief in Nigeria and the ability of Media Fuse team to bring Dentsu’s unique operating model to life in Nigeria. “Our partnership with Media Fuse enables us to launch our unique and proprietary tools like CCS and Convergence Planning, which will help local and our global clients grow their value they derive from media significantly,” she said.

28 — Vanguard, MONDAY, JUNE 1, 2015

Corporate Finance

Portland Paints targets rights issue to raise additional capital By NKIRU NNOROM

ortland Paints and Products Nigeria Plc (PPPNP) has said it will be embarking on rights issue to raise additional capital in pursuit of its plan to improve returns and address the high leverage position of the company and other business expansion plans. The company further noted it will focus on innovation and seek opportunities to introduce new products into its array of brands as it pursues increased profitability for its stakeholders. The Chairman, Mr. Larry Ettah, who spoke at the company’s Annual General Meeting, AGM, in Lagos, said the management will consequently realign its portfolio and make strategic shifts where necessary, as well as concentrate on capacity building for its people. Laying the company’s result for the year ended December 31, 2014 before the shareholders, Ettah noted that Portland Paints recorded another year of impressive business performance as bottomline growth hit 159 percent, from a profit after tax of N57.3 million in 2013 to N148.6 million in 2014. During the period under review, operational profit also grew from N174.3 million to N304.5 million, he said. He, however, explained that “for strategic reasons, the board is not recommending the payment of dividend for the year, but hoped that with the company’s improved performance, this may not be a challenge any more. Ettah noted that the outlook for the Nigerian economy in 2015 is expected to be significantly affected by low crude oil prices, increase in exchange rates of Naira against major currencies, national security issues and the political risk associated with the elections. According to him, the International Monetary Funds (IMF) has projected 4.8 percent GDP growth for Nigeria, while both the Nigerian government and the World Bank assume a 5.5 percent growth rate; a decline from the range of 6.5 percent-7.0 percent that the Nigerian economy had been growing at for some years now. He stated further: “Oil prices that closed below $60 in December 2014 fell as low as $46.00 in January 2015, leading to the review of the Federal Government’s 2015 Budget benchmark from an initial $65 to $53 per barrel.

LAUNCH — From left: Tunde Akinluwa, Head, Sales O3 Capital; Oremeyi Akah, Country Manager, Verve; Abimbola Pinheiro, MD/CEO, O3 Capital; Yvonne Onyejiaka, Business Development, Game Stores; Sylvester John, West Africa Executive, Game Stores; Uduak Nsa, Store Manager-Designate, Game Stores during Game Stores' credit launch.

May&Baker back to profitability as shareholders okay 5k dividend By PETER EGWUATU

hareholders of May & Baker Nigeria Plc have unanimously approved the five kobo per share dividend proposed by its Board of Directors for the financial year ended December 31, 2014, just as the company returned to profitability. The shareholders at the 64 t h A n n u a l General Meeting of the company held in Lagos commended the company’s performance for the year under review, in view of the harsh operating environment it operated upon and for returning back to paying

dividend. In his remarks at the meeting, Chairman, May & Baker Nigeria Plc, Lt. General Theophilus Danjuma (Rtd) said “Despite the harsh operating environment, our company posted an impressive result for the year 2014. The challenges associated with the building and depreciation of the Pharmacentre are gradually being taken care of and our company has bounced back to profitability.” According to him “Result for the year 2014 shows that the company recorded a 990 per cent growth in profit. From a pre tax loss position

of N11.4 million in 2013, the group recorded a pre tax profit of N101.1 million in 2014. Similarly, after tax

The future outlook of our company remains bright and the signs are already manifesting woth retuen to profitability

profit rose by 161 per cent from a negative of N103 million in 2013 to a positive of N63 million in 2014. This was achieved on a group turnover of N7 billion, against N6.3 billion in 2013, a revenue growth of 10.2 per cent.” The May & Baker Chairman explained to shareholders that the company was unable to raise additional capital last year when approval was given by them due to unfavourable market and economic conditions. In his words: "It is my utmost hope that we will be able to bring in equity within the next one year as it is evident that recapitalizing the company has become an urgent imperative. Our financing cost has remained above N600 million for the second year running. This would have flowed into profits for shareholders had we operated more on own equity than borrowed funds. On future outlook, he said “The future outlook of our company remains bright and the signs are already manifesting with return to profitability and dividend payment. I am optimistic that as soon as we are able to recapitalise the business we shall take down the high financing cost which is currently taking substantial earnings off the company. This will put us in a strong position to fully leverage o u r i n s t a l l e d c a p a c i t y, aggressively promote our existing brands, launch new products in our pipeline and deliver better profits.”

O3 Capital, Game Stores boost cashless policy to unveil credit card By PETER EGWUATU

s part of their support for the Central Bank of Nigeria, CBN’s Cashless initiative, O3 Capital Nigeria Limited and Game Stores have partnered to introduce the first consumer credit card in Nigeria. Mr. Abimbola Pinheiro, CEO, O3 Capital Nigeria Limited sated this during the launch of Game Credit that the card is the first white label credit card in Nigeria that can be used only in Game Stores all across Nigeria. According to him “The card will give customers the freedom to buy now and pay later for any items purchased in Game Stores. The Game Stores in Nigeria are located in Lagos, Enugu, and Kano. This credit facility works on revolving credit bases with a 15 day interest free period and low minimum

monthly repayments of 10 per cent in a month. The O3 Game card will offer customers a generous revolving credit limit of up to N1.5million based on the qualification criteria of the individual applicants. Pinheiro, noted that the objective of the O3 Game card correlates to that of the CBN’s Financial System Strategy 2020, which includes the cashless policy. “The objective is to promote economic activity by ultilising innovative payment systems with ease of accessibility to the general populace. This is in line with 03 Capital’s mission to take the CBN cashless policy to a whole new level” he added. He further noted that the Game card is another avenue to provide the average Nigerian with access to credit that will enable them meet their needs. In his remark at the launch, Mr. Sylvester John, West Africa Executive, Game Discount World Nigeria Limited said “Game Stores,

Africa’s largest discount retailer of general merchandise is guided by four basic core beliefs, one of which is exceeding the expectations of our customers. The credit card being launched today is the first of its kind in Nigeria to be used without an issuance fee, additionally, the card is also issued free of commitment and advisory fees.” To qualify for the Game’s credit card facility, he said “ All applicants must be permanently employed and over the age of 21. Applicants must be in possession of an official identity document Also applicants must have a valid bank account and a good financial track record. Speaking as well, Yvonne Onyejiaka, Business Development Manager, Game Discount World Nigeria Limited, said “Game Store is ultimate gifting destination and offer registry of the items that customers need in an occasion, be it for wedding, birthday etc.”

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Homes & Housing

UK mortgage approvals rise by 7%

•Modern housing estate

Nigeria’s real estate outgrows GDP at 8.7% —PwC zInvestment to hit $13.65bn in 2016 By YINKA KOLAWOLE

he Nigerian real estate sector is growing at a rate of 8.7 percent, which is faster than the average GDP growth rate of 7.4 percent, according to a new report by accounting and auditing firm PricewaterhouseCoopers (PwC). In the report titled, “Real Estate: Building the future of Africa”, PwC also projected the country’s real estate investment to rise by about 49 percent, from $9.16 billion currently to $13.65 billion in 2016. It attributed the expected increase to a number of factors. “This is driven by a growing middleclass driving demand for residential property development and, indirectly, retail, industrial and commercial real estate development. High networth individuals (HNWIs) invest 25 percent of their assets in real estate compared to 18 percent or less in equities and other instruments. Continued government reforms have created an enabling environment for property development and financing. Increased allocations of funding to the asset class by local and foreign investors are also key drivers of projected growth in this sector,” it stated. PwC also noted that residential real estate market is driven by the growing population in Nigeria, as well as the increasing rural-urban migration, strong economic growth and a growing middle

class. It added that commercial real estate market is driven by an influx of institutional, foreign and private business into the country as well as the growth of locally established businesses and multi-national oil companies across the cities of Lagos, Abuja and Port Harcourt. “The availability of office space is improving and several A-grade projects are

huge housing deficit in the country. “It is estimated that Nigeria has a housing deficit of 17 million houses estimated at $363 billion. This number is expected to increase by two million houses per year at the current population growth of 2.8 percent per year.” It noted that if the growth pattern is sustained and improved on, numerous jobs will be created

There is considerable room for profitable investments in the real estate sector in the country underway. Rental figures in Lagos remain among the highest in the world, with achievable rents at more than $85 per square metre per month.” The report also indicated that there is considerable room for profitable investments in the real estate sector due to the

in the process and the housing deficit will be bridged sooner than later. The PwC report however highlighted the problems facing the real estate industry. The report cautioned that in spite of the substantial opportunities existing in the Nigerian real estate market,

there a number of specific risks for property investors. “There are existing problems with access to finance; with a lack of long-term debt financing and an underdeveloped mortgage market, with mortgage loans representing less than 1 percent of the nation’s GDP. Cumbersome and time-consuming processes for land acquisition and ownership documentation can make acquiring land difficult, while land in urban areas is expensive. Building materials and construction costs are also high and there is a reliance on expatriate workers resulting from a shortage of expertise in the local construction industry. Security considerations as a result of local unrest should also be factored into investment decisions. A dearth of infrastructure presents difficulties for potential developers, as non-availability of basic services such as water and energy has forced developers to provide these amenities, adding up to 30 percent to total development costs,” it stated.

‘FG owes construction firms N500bn’ C

onstruction companies in the country claimed that the federal government is owing them N500 billion. President, Federation of Construction Industry (FOCI), Mr Solomon Ogunbusola, said that the nation’s construction sector of the economy was comatose due to the failure of the federal government and some state governments to pay construction firms for projects they have completed. He noted that as a result of the debts, some of them may soon close business and disengage their employees. “The Federal Ministry of Works alone is owing our members N500 billion and one company is owed over N70 billion. The records are there. We are now retrenching our workers. We are merely opening the offices because we want to remain in office, hoping that the incoming administration will

be a better one for us. We cannot keep quiet or hide any longer. All construction companies in Nigeria are being owed huge sums of money amounting to over N500 billion. We all being owed and to further stoke our grievances the Central Bank of Nigeria (CBN) is urging banks to publish the names of our members who took loans from the banks and are being owed for projects that they had long completed as chronic debtors. The name of the government that owed the construction companies should also be published. Let the banks publish the names of our members along with that of the Federal Ministry of Works, Federal Capital Territory (FCT) and area councils owing us as chronic debtors. It is because they could not pay our members that they, in turn, could not pay the banks,” he stated.

ortgage approvals in Britain rose in April to their highest level since June last year and they look set to keep growing, according to data from the British Bankers’ Association. The number of approvals rose by 7 percent to 42,116, from 39,203 in March, the highest figure since June last year. BBA said one reason may have been the abolition of Stamp Duty on house purchases in Scotland. It was replaced by the Land and Buildings Transaction Tax on 1 April. Some reports had suggested the housing market slowed down before the election, as richer buyers worried about Labour’s proposed Mansion Tax on homes worth more than £2m. But BBA figures indicate that was not the case. “There was a significant pre-election jump in mortgage approvals which we would expect to continue in the coming months,” said Richard Woolhouse, chief economist at the BBA.

US mortgage rates hit 2015 high

ortgage rates in the US rose to a 2015 high last week as bond investors reacted to reports showing the housing market is heating up. The average rate for a 30year fixed mortgage was 3.87 percent, up from 3.84 percent the previous week and matching the level at the end of 2014, Freddie Mac said in a statement. The average 15year rate increased to 3.11 percent from 3.05 percent, according to the mortgage financier. Home-loan costs climbed as investors speculated that positive economic data will encourage the Federal Reserve to increase the amount it charges banks to borrow funds. In her first public comments on monetary policy since late March, Fed Chair Janet Yellen said that if the economy continues to improve as she expects, “it will be appropriate at some point this year” to start raising rates. Signed contracts to buy previously owned homes rose to a nine-year high in April, according to the National Association of Realtors. C M Y K

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How Federal Government robbed the states “Subsidy: FG withdraws N395bn from Excess Crude Account.” Everest Amaefule, PUNCH, May 24, 2015, p 6.

omebody should hang for this if it occurred in China or Yew’ Singapore. But, since this is Nigeria, somebody should at least change their boutique designer outfits for “prison designer collections”. The report revealed as follows: “The Federal Government withdrew the sum of N395bn in 2013 to fund subsidy on petroleum products, the Fiscal Responsibility Commission has said. Furthermore the Commission said: “Funds have been deployed towards payment for petroleum products subsidy and PEF (Petroleum Equalisation Fund). It is difficult to find justification for this in the Fiscal Responsibility Act 2007.” That the Federal Government of Nigeria, under President Jonathan and Dr Ngozi

Okonjo-Iweala, had been robbing the states of funds had been suspected for some time. What was lacking was the proof beyond reasonable doubt – or what crime writers will call “the smoking gun”. The search has come to an end with the release, last week, of the 2013 Annual Report and Audited Accounts of the Fiscal Responsibility Commission, FRC. Governor Amaechi of Rivers State had been the most vocal among governors with accusations of robbery against the Federal Government. The allegations have always been dismissed by the Minister of Finance as “baseless”. With the revelation by the FRC, regarding these illegal transactions, Mrs OkonjoIweala now stands revealed as an individual who is also engaged in illegal activities. Amaechi has been vindicated. In fact, right now, the question is no longer whether the Federal government had been robbing and impoverishing the states; it is “how much had been

stolen under Jonathan and the Minister”? Could it have been more than N395bn? There are reasons to think so – as we shall demonstrate later. The Excess Crude Account, ECA, created by President Obasanjo and the Minister in 2004, was an illegal account from the start. But, acting with impunity and the delusion of superior knowledge, and, without consulting the National

The Excess Crude Account, ECA, created by President Obasanjo and the Minisre in 2004, was an illegal account from the start

Assembly, NASS, the two opened the account. At the time, when the PDP regarded itself as invincible (we will rule for 60 years), neither the PDPdominated NASS, nor the governors, majority of whom were PDP raised any objections. Even ACN, Labour and APGA governors ignored this affront to their states’ interests. With sufficient funds coming in to run their states nobody foresaw the downturn in revenue which had occurred since 2014. So, what we now have is a situation where an illegal account, established by the Minister, ostensibly for the benefit of the three tiers of government is being raided by the same Minister to the detriment of the states. If ever there is an argument for true federalism, this example had provided it. Obasanjo, with his “Father-knows best attitude” had agreed to establish that account because he felt that state governors could not be trusted to save for the rainy day. So, the Federal Government forcefully seized the funds and saved on their behalf. Apart from the self-righteousness underlying that thinking, Obasanjo forgot that he would not rule for ever. A crooked

Federal Government, with the states’ funds in its grip would do more damage than individual governors acting irresponsibly. We apparently had such a government for five years from 2010 to 2015. N o w, the FRC audited account, apart from being a little late had confirmed the fears of those of us who were against the ECA from the start. Actually, we need not have waited for the FRC report to suspect that the operation of the ECA by the Federal Government was fraudulent. Last year, when the announced balance in the account ran low, and Governor Amaechi, the lone complainant, started asking questions, $1bn additional funds suddenly showed up in the account without explanation from the Federal Government. But, the Finance Commissioners attending the monthly allocation meeting were too intimidated to press the issue. With the FRC report, it would appear that the Federal Ministry of Finance maintains two sets of ECA books – one for the states (the false one) and another for itself (the true one). And the FG only reveals to the states what it wants to disclose.

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Insurance

Insurance sector offers hope of significant potential — REPORT By ROSEMARY ONUOHA The Nigerian insurance sector is considered to offer significant potential with foreign investors attempting to build a profile in the market despite being confronted by a difficult operating environment as fluctuating oil prices threaten the country’s economic expansion. According to a report by A.M Best, a sense of optimism is prevailing as the prospect of a new political era is instilling a greater degree of confidence in Nigeria’s future. The report titled, ‘Nigeria’s Insurance Sector Faces Economic Challenges, but New Government Improves Prospects’ stated that in spite of such challenges, there appears to be some signs of renewed confidence in the economy following the accession of the new government led by Muhammadu Buhari. “Buhari faces numerous economic, fiscal and political challenges, including the decline in oil prices and a continued insurgency from the militant group Boko Haram. It is anticipated that Buhari will bring much needed changes by reducing corruption (over USD 20 billion in oil revenue is unaccounted for in government accounts he will be inheriting), implementing economic reforms by reducing the country’s reliance on oil and by increasing foreign investor interest in Nigeria through the promise of greater transparency. Should these expectations transpire, greater confidence in Nigeria will likely attract further interests into its largely untapped insurance industry,” the report stated. According to the report, in line with growth in the broader economic environment, Nigeria’s insurance sector has expanded significantly, although largely driven by inflation, which is reported to have fluctuated between 8% and 14% over the past five years. Market participants have reported double-digit rates of expansion in nominal terms, supported by the rise in infrastructure projects and an increasingly wealthier population, which in turn has more valuable goods to insure and residual earnings to save. Growth to some extent has also been supported by the introduction of compulsory insurance, although enforceability of these mandatory lines of business

remains a problem for the industry as a whole. Nonetheless, despite these positive drivers of growth, total insurance penetration rates remain low at just 0.3% in 2013. The report noted that although Nigeria’s population is growing, high levels of poverty and unemployment remain the reality for the majority of the country, as the benefits of economic growth have not sufficiently reached swathes of the poorer segments of society. Furthermore, a distrust in financial institutions, perceived weak oversight of regulators, or even a low-level of awareness regarding the benefits of insurance, are

factors continuing to dampen the attractiveness of the sector to the majority of the population. Without addressing these issues or introducing innovative products and appropriate

Buhari faces numerous economic, fiscal and political challenges, including the decline in oil prices and a continued insurgency from the militant group Boko Haram

distribution methods to attract the various segments of Nigeria’s demographics, insurance will continue to be viewed as a luxury product only available and necessary to the well-off. A.M Best stated that Nigeria’s insurance regulator, the National Insurance Commission (NAICOM), continues to be proactive in its attempts to advance the Nigerian insurance market. Over the years, the regulator has implemented numerous reforms to improve the perception of the sector and expand the contribution of the industry to the country ’s economic output, to varying degrees of success.

PRESENTATION — From left: Ambassadors Kevin Ebhohimen, Aishat Sani, Tunde Adegbeso and Dr Raphael Oko during the Award of Peace Ambassador at the United Nation’s Family Day in Abuja.

KBL debuts online third party insurance

BL Insurance has opened an online portal for the sale of third party insurance. The company said that the move is in line with the need to achieve financial inclusion and to further enable consumers’ access to compulsory insurance products. In a statement, the company said that the portal enables consumers anywhere in the world to start and finish the process of purchasing a third party insurance policy. This way, members of the public are able to buy insurance in the comfort of their homes, offices and on the go using the internet. Meanwhile, the company has settled N198,827,794.42 worth of claims in the first quarter (January-March) of 2015. This amount represents claims settled in motor insurance, fire, marine, energy and other classes of insurance. The company restates its resolve to settle claims within 48 hours once documentation is complete and urged customers to continually ensure prompt reporting of losses in line with the benefits of the insurance cover they have. Apart from the third party online portal which can be accessed through KBL Insurance’s website, the organisation plans to further leverage on digital and online technology for transactions in expanding its retail insurance base. These alternatives are designed to ensure that the online community is able to access insurance easily.

Expert urges employees to prepare for retirement

anaging Director of Premium Pension Limited, Mr. Wilson Ideva has stated that retirement that is not preceded by proper planning and preparedness could spell disaster for both the retiree and the society. Ideva made this assertion in Asaba while delivering a paper at the 2nd edition of the Delta State Bureau of State Pensions Annual Lecture Series. Ideva said, “Enjoying a hitchfree retirement goes beyond receiving a lump-sum and regular programmed withdrawal from one’s Retirement Savings Account (RSA). It requires in-depth planning and profound mental and psychological conditioning of the retiring worker to equip him to seamlessly adjust to a different kind of life after

decades of service to society. Delivering a paper titled, “Towards Sustaining Stronger Relations Between State and Local Government Bureaux of Pensions and Pension Fund Administration: The Delta State Experience,” Ideva dwelt extensively on the consequences of lack of understanding of the basic requirements for a happy life in retirement and associated illpreparedness for it. He said, “A retirement illprepared for could spell disaster both for the retiree and the society and consequently give the Contributory Pension Scheme (CPS) a bad name and erode the initial gains. The onus falls on the Bureaux of Pensions and the pension operators to run preparatory programmes for workers, especially those on the

verge of retirement.” He further asserted that economically, socially and psychologically stable retirees are the most effective advertisement for the CPS. Ideva called for synergy of all stakeholders in the CPS to ensure that the gains of the industry in the past decade are sustained. “Partnership of relevant government institutions, especially the Bureaux of Pension and the pension operators in the country is the sine qua non for sustaining the current gains of the Contributory Pension Scheme and even expanding its scope and proliferating its inherent opportunities” he said while calling for the prioritization of awareness creation on the importance and workings of the CPS. To ensure that many more

workers are covered by the pension scheme, Ideva advised that every government plan to expand and/or redefine its programmes even as it relates to the private sector must incorporate in-built strategies to accommodate the pension requirements of participants, beneficiaries and key actors as the case may be. He also noted that expanding the CPS to the informal sector of the economy as permitted by the Pension Reform Act 2014 requires some measure of creativity and professionalism on the part of key actors to actualize. “The CPS is one of the most successful government initiatives that still harbours even greater potential. It requires ingenious and concerted approaches to lift it to the next level,” Ideva stated.

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E-Commerce

TNS, Kantar sign strategic mobile research deal with GeoPoll By Princewill Ekwujuru

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research consultancy firm, TNS and sister company, Kantar Media have announced an exclusive and wide-reaching strategic partnership with GeoPoll, to deploy a new range of research products and services intended to deepen and improve market research in Africa and Nigeria. Kim MacIlwaine, CEO, TNS Africa, Mediterranean & Middle East in a statement addressed to the media, intimating them of the new product said, “mobile is becoming an increasingly important mode of communication for market researchers, and we are excited to collaborate with GeoPoll to expand our data product offerings in key African markets.” According to him, “ we believe GeoPoll’s robust mobile surveying technology combined with TNS and Kantar Media’s expertise in market and media research will be beneficial to all of our clients working in Africa.”

Google to add ‘buy button’ to search results

oogle has confirmed that it is to introduce a “buy button” to its search results imminently. The button would give Google Search users the option to purchase without needing to visit a separate website. The company ’s chief business officer, Omid Kordestani, said he wanted to reduce “friction” for users so they buy more things online. Google faces significant competition from Amazon, where many people now begin their search to buy products. “There’s going to be a buy button. It’s going to be imminent,” said Mr Kordestani on stage at the Code Conference in California last week. The change would make it easier for shoppers to buy products featured in its shopping ads that appear alongside search results. Mr Kordestani also noted that about nine out of 10 purchases are still made offline.

E-commerce start-up funding: Hotels.ng breaks jinx, secures N240m investment STORIES BY JONAH NWOKPOKU

igeria’s online hotel booking agency, Hotels.ng has secured $1.2 million, about N240 million investments from international investors. The investment came from international investors including seed-stage technology fund, EchoVC PanAfrican Fund and Omidyar Network, the investment vehicle of eBay founder, Pierre Omidyar. In a sector plagued by dearth and apathy of indigenous investors, Hotels.ng has become the only e-commerce company in Nigeria with the most indigenous investment of up to 90 percent, having also received seed investment of $225, 000, about N36 million in 2013 from Lagos-based venture capital firm, Spark.ng. Started in 2013 on the heels of e-commerce revolution in Nigeria, Hotels.ng has spearheaded online hotel booking in the country with over 7,000 hotels listed from across the country. The company said with the closure on this investment round, the company is now strategically positioned to invest further in its technology capacity and further expansion across Africa. Speaking on the investment, Founder/ CEO of Hotels.ng, Mark Essien said: “We’re forging ahead into relatively uncharted ter ritory. Ecommerce in Africa is a massive market to conquer, but there are no hard and fast prototypes from which to follow. We cannot simply replicate western models here. We have to build our own blueprints from scratch, which takes significant investment, both in terms of time and money. This additional capital will allow us to realize the next stage in our ambitious growth plans, which will see us consolidate our position as Nigeria’s market leader in online hotel bookings, with a view to expanding our service into other African markets.” Also speaking, Managing Partner of Spark.ng, Jason Njoku said: “Mark and his team are the future of Africa’s digital economy. They are hungry for success, innovative in their approach to building their market and rigorous in their business execution. Closing on this funding round is a big win, not only for Hotels.ng, but for all African internet start-ups. It is proof, if any more were needed, that

the Internet market in Africa is extremely appealing for VCs, more of whom are now looking to create value and build big on the continent.” For Ory Okolloh, investments director at Omidyar Network: “Omidyar Network knows firsthand the power of e-commerce to drive social and economic development. Hotels.ng hits all the marks of an investment with positive impact by leveraging online technology to connect buyers and sellers, supporting local small and medium businesses, and boosting consumers’ confidence in digital

channels.” On his part, the Managing Partner, EchoVC Pan-African Fund, Eghosa Omoigui said: “We were attracted to the Hotels.ng opportunity in part due to the vision, leadership and integrity of its founder, Mark Essien, and the relentless execution the team displayed in building a profitable and robust ecommerce business in a challenging, but ultimately exciting market. Mark represents the type of highquality and high-conviction African techpreneur that our fund is tasked with investing

in. Hotels.ng is now in the very best position to continue on its upward trajectory of being West Africa’s foremost online travel and hospitality platform. Following a competitive selection process, we’re delighted to be an integral part of helping to fuel their next stage of meteoric growth.” Internet access in Nigeria is predicted to grow from 16 percent of the population to 50 percent by 2025, propelling the country’s digital economy forward and driving more people online to facilitate offline activities.

CONFERENCE - From left: Dr. Olumuyiwa Oludayo, Registrar, Covenant University; Brovo Kim, Managing Director, Samsung West Africa; Uzoma Dozie, Chief Executive Officer, Diamond Bank Plc and Yomi Adedeji, Managing Patner, Softcom at the Future Ready University Conference Press briefing organised by Diamond Bank in Lagos.

Nigeria leads online auto inquiries in emerging markets with 89% growth

igeria secured the highest year on year growth when it came to motor vehicle related online search inquiries in emerging markets, with 89 per cent growth rate, according to a white paper released by Nigeria’s online car marketplace, Carmudi.com. Titled ‘The booming automotive industry in emerging markets’ the white paper highlighted among other things, the purchasing behaviours in Nigeria, the internet’s role in car sales and trends between GDP per capita and car ownership in Nigeria and other emerging markets. According to the study, Nigeria beat 20 other Middle East and African markets, as

far as the internet is concerned as a driver of car sales, with 89 per cent followed by Tanzania and Bangladesh with 71 and 69 per cent respectively. The report noted that “There is no reason to doubt that emerging markets will rapidly catch up to these figures. Evidence of this phenomenon can be seen when looking at automotive Google search queries as the year over year search growth has been astonishing particularly in Africa.” Nigeria’s e-commerce space has witnessed significant growth in the last three years, driven by 58.3 percent internet growth and about 32.7 mobile penetration. On the purchasing behaviour in Nigeria, the

report noted that “50 percent of car dealers in Nigeria surveyed during the preparation of the report, saw a decrease in sales as a result of slowing sales and naira devaluation before and during the general elections in the country. However, 30 per cent said they saw an increase in sales due to the changing economic climate and infrastructure in Nigeria.” Speaking during the presentation of the white paper before journalists in Lagos, Carmudi’s Managing Director in Nigeria, Christian Keller said the report was inspired by dearth of reliable data in the auto markets in Nigeria, especially for dealers and investors, who need to make informed decisions.

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Aviation

Why Nigeria does not have national carrier — CHIDOKA By LAWANI MIKAIRU

he out-going Minister of Aviation, Chief Osita Chidoka has revealed why he could not midwife a national carrier for Nigeria before the expiration of his tenure, just as he identified and explained some of the problems bedeviling the Aviation ministry and its parastatals. Chidoka, while presenting his aviation score card to stakeholders in Lagos, said that none of the domestic airlines currently operating domestic flights in the country can become a national carrier because they are privately owned, adding that a national carrier must have a diverse ownership structure . The minister said attempts to make Aero Contractors a national carrier in 2011 failed because the minority shareholders refused to agree to restructure the ownership. He added that Aero was chosen because of its indebtedness to the Federal Government through AMCON, its safety records, the size of its fleet, operational coverage and availability of electronic ticketing. He also said because the Aero Contractors experiment failed, the ministry’s panel set up to look at the viability of a national carrier advised that Nigeria should

explore the multiple carrier option instead of the single national carrier option. Chidoka revealed that for any airline to transform into a national carrier “it must have International Air Transport Association (IATA) and International Operational Safety Audit (IOSA) certification, it must have evidence of technical partnership and must meet minimum fleet size, equipment and diverse ownership.” According to him, "for you to be a national carrier, the ownership structure should be diversified. The airline should not be a family business operated by one man and his children. Private investors should have equity in the business, the books must be open for scrutiny and auditing and there must be transparent financial dealings and agreeing to restructure the ownership through the sale of shares on a 60/40 basis. “The airline must have a strong and reliable technical partnership that will constantly guide the airline on the path of safety and profitability. This must be accompanied by International Air Transport Association (IATA) International Operational Safety Audit(IOSA) certification which is done periodically. The airline must have the right fleet size in order not to put unnecessary pressure on few air planes which will lead to quick wear and tear.”

The minister also explained why the Ministry of Aviation has not been very effective in discharging its function of overseeing the parastatals under the ministry. Chidoka said “The Ministry of Aviation has eleven departments. Two of the eleven departments are focused on the provision of technical Aviation services. Current staff strength in the ministry stands at 560. “ “32.96% of the staff serve in the two technical departments while the remaining are split amongst the non-technical departments .The staff pooling system of the federal civil service limits the ministry ability to build and maintain a group of technical experts to manage the affairs of the civil Aviation industry.” “The pooling system should be modified to accommodate the technical expertise required in certain areas. The ministry staff strength is skewed towards service

For you to be a national carrier, the ownership structure should be diversified

Chief Osita Chidoka, former Minister of Aviation

areas as against technical aviation related areas. The staffing needs to be re-adjusted to enable the ministry beef up the staff numbers in the technical aviation areas which is the organisation’s core focus”. The Aviation Ministry boss further disclosed that the problem with the ministry is not the removal of the minister but the frequent posting and transfer of the permanent secretary. This, he said, had created room for politicians and contractors to take over the ministry. On the survival of airlines, the

Aviation Minister said that he would not subscribe to a situation where airlines are allowed to die before efforts are made to rescue them, adding that the regulator should be proactive to intervene in any airline the moment it notice any sign of problem. “There is the need to set up Aviation corporate governance and enterprise Risk framework to reduce the probability of aviation corporation failure due to moral hazard.” Chidoka said. The Minister further said that he had appealed to Pension Commission (PenCom) to set aside 3 per cent of pension fund to invest in aviation, adding that when this is done it would help to grow Nigerian airlines. Chidoka harped on the need to give Nigerians seeking participation in the aviation industry first right of refusal. Specifically, he said Nigerians should be allowed to operate In- flight catering services. He said he did not give approval and would advice incoming minister not to give approval to any foreign company seeking approval to operate in the country, adding that when Nigeria In-flight catering company; Airline Services Limited(ASL) tried to operate in Britain ,it was frustrated . He explained that the British authority asked ASL to seek the cooperation of customers first before coming to them, while the customers asked ASL to get approval from the British airport authority.

Micro-Finance We train for job creation — ITF Stories by PROVIDENCE OBUH

he Industrial Training Fund (ITF) has said it's training programme is for job creation across sectors of the economy. Director-General, ITF, Mrs. Juliet Chukkas-Onaeko, made the disclosure at the graduation ceremony of the inaugural set of Automobile Technicians trained by Truck Masters Nigeria Ltd, under the ITF-NECA Technical Skills Development Project (TSDP). She said, “We are training for job creation, we believe that when we match our training, it will meet the market need and guarantee that when these

people finish they will not be looking for jobs but meeting needs.” Meanwhile, she said that all those sponsored by the fund in collaboration with the Nigeria Employers Consultative

Association (NECA) and other organisations would soon get international certifications, adding that the organisation has been working with series of established players in various industries like agriculture, oil and gas and automobile maintenance in order to train more youths.

High corporate governance’ll attract investment — AFC

he Chief Executive Officer, Africa Finance Corporation (AFC) Mr. Andrew Alli, has urged Organisations both in Nigeria and the Continent to embrace high corporate governance in order to attract continued investment. Alli said this in a paper presentation titled: “Corporate Governance for Long Term

Business Success” at the Institute of Directors (IoD) Nigeria, Annual Fellow’s Luncheon, themed: “Corporate Governance: Overcoming the Influence of Power Control for Long Term Business.” He said, “If Africa is to continue to attract investments, organizations must be willing to show genuine implementation of high corporate governance

Bayer floats subsidiary to support investment in Nigeria

“We train to meet the requirements that are required by particular industry so that when they go out of the country they can meet expected standard. This training guarantees 80 percent practical experience which is what is required when it comes to technical skills development.

ayer AG has floated a subsidiary company in Nigeria to support its investment interests in Nigeria. Bayer is a global enterprise with core competencies in the areas of health care, agriculture and high-tech polymer materials. Speaking during the inauguration of Bayer Middle Africa Limited in Lagos, Member, Board of Management of Bayer, Mr. Michael König,

said that the aim of the subsidiary is to support and develop the businesses of the three subgroups of Bayer in the country, and to enable her serve her customers in Nigeria better. König disclosed that the company currently has more than 20 employees and is planning to grow to over 30 employees by the end of 2015 in the country with over 1000 employees across the African continent.

standards, which must be measured and constantly evaluated for optimal outcomes.” He described corporate governance as an internal control necessary to ensure equitable distribution of rights among various stakeholders and make every participant accountable for their actions, adding that it is also about putting in place the structure, processes and mechanism that enhances long term shareholder value through accountability of managers and enhancing organisational performance. He pointed out that failure in corporate governance is a real threat to the future of every corporation given its benefits, saying, “Strong corporate governance is even more important for today’s corporations.”

“ITF works with NECA to ensure equipments are made available for the training. We are sure of 100 percent employment for these one’s we have trained, this is how we can sped up job creation in the country and going forward we are training youths that would be acceptable anywhere in the world. We are standardizing our training centre and carrying out a centre audit to ensure the centre we have, have all it takes to produce internationally acceptable graduate. “The ITF has been working on certifications for our trainees so that they can work anywhere in the world, because our programmes seem not to be enough. The certification, when ready will have our trainees to take exams to qualify them for a diploma in the field of their training. “This is necessary because it has been difficult to attract young people to technical skills because of the poor remuneration and recognition that the sector of education has been suffering. “We have therefore been training our students not only on skilled manpower, but alongside good work ethics, good customer care, and also entrepreneurial skills,” she said.

40 — Vanguard, MONDAY, JUNE 1, 2015

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Vanguard, MONDAY, JUNE 1, 2015 — 41

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42 — Vanguard, MONDAY, JUNE 1, 2015

People in Business

hy he left paid employment: After his one year compulsory service to fatherland, Mr Olusina Ogunrinde worked in the banking industry for some years before voluntarily retiring in February 1998 to start his own business. “So many factors made me leave paid employment, one of which was the urge to be on my own in good time. I started Trustmark Communications properly on May 1, 1998 in a room and parlour apartment at Onipanu Lagos. Before this time, while still in the banking industry, I was already doing advertising; my friends were helping me. I am very creative so I did a lot of creative things which were approved. I believe that if God is with you, things will fall into place. That was what prompted me to leave the bank. I felt that since I could make some money from advertising, instead of tying myself down to salary, I could make more money on my own. What we do: We were into advertising mainly but in 2005, we had made some money so we decided to diversify into what we are doing today which include screen printing, computerized monogramming & embroidery, heat transfer prints, award plaque production, corporate gifts, corporate lapel pin production, branding of Tshirts, towels etc., and occasionally, we do paper printing. Diversifying: "As a matter of fact, diversifying has been our saving grace because if we did not diversify as at the time we lost the Chevron account, it would have been disastrous. In 2001, we moved to a three-bedroom flat in Ikeja. Of course, there have been ups and downs," he said. In their bid to expand the business, Ogunrinde said they added eight more machines in 2006 with the help of a loan from the defunct Intercontinental Bank. Saving grace: Unfortunately, life is not always a bed of roses so in 2010, “things went a bit down, we were faced with rental and other problems and that was when we were rescued by the Technology Incubation Centre (TIC), Lagos under the National Board for Technology Incubation of the Federal Ministry of Science and Technology. That was what brought us here. “Somebody directed me to this place saying it is a small scale industry condominium where my business could be saved because at that point, the business was actually going into extinction and we were about losing the Chevron account so C M Y K

•A staff of Trustmark at work

Desire to be on my own made me quit my job —OGUNRINDE

r Olusina Adedeji Ogunrinde is the Chief Executive Officer of Lagos-based Trustmark Communications Limited, a total communications outfit which started with advertising and marketing communications but later diversified. In this chat with Financial Vanguard, the University of Lagos Business Administration graduate tells the story of how he left the banking industry to become an entrepreneur, and the journey so far. By EBELE ORAKPO things were a bit difficult although we got it back and in the process, we were able to pay all our indebtedness to Intercontinental Bank. We lost it eventually in 2013 and we have been at this centre since then,” he said. "TIC has been our saving grace because when we moved in here, there was nothing like payment of rent, we only pay for electricity, water etc. This place has tenure and we are hoping that very soon, we will move. We render services so we cannot do that in the bush, otherwise we would have bought a piece of land somewhere and put up a structure. Also the economy has not been good. TIC is still accommodating us, but we hope that soon, we will get our own place because I wouldn’t want to go out now and start paying rent again, that will be suicidal." Challenges: "Power has been a huge challenge. A situation where the country is generating only 2,000 plus megawatts of electricity for about 170 million people, that is a precarious situation. The little money we make is spent on

fuel. In the last two weeks, we have been battling with fuel scarcity and you can imagine what we are going through. We had to buy fuel at N250 per litre. So how can a business survive in this kind of environment? But by and large, I thank God for where we are and we believe that God will take us to where we want to be." Number of employees: From day one, I employed two persons - a graphic artist and a receptionist. Now, I have nine plus myself, making 10. The beauty of small scale industry is that it employs many people but if I am into buying and selling, I may not need more than one staff but because I am producing, I have nine. Imagine if I have more

The beauty of small scale industry is that it employs may people

•Mr Olusina Ogunrinde...I am grateful to God for what I am doing now machines, I can have 15 employees. We have not been able to get financial assistance from government; we hear N200 billion for small scale industries but apart from those who got the National Economic Reconstruction Fund (NERFund) loan here many years back, since I moved in about four, five years ago, I have not had the opportunity of getting a loan to help my business so we are more or less stagnant." Investors: "If we see individuals who want to invest, we will accommodate them on our own terms because my fear with people investing in your business is that if things improve dramatically, they will want to kill you or drive you away from the business and that is why I am always afraid. Institutional investors are safer." Start-up capital: "We started with two machines which I brought in from the US. They cost thousands of dollars; I can’t remember the exact amount. I know that when we added more machines in 2006,

it cost us about N15 million, that was the loan we got from Intercontinental. We had some counterpart funding though because we were still doing advertising and money was coming in." Patronage: We thank God because no matter how bad the situation is, we have not stopped production. It may not be really the way we want it because when you are doing business, you want big money coming in. But in our case, big jobs come occasionally, the rest are small jobs and it is not helping cash flow. Although I thank God for this and this environment, but the type of business I want to do is the business that will bring me bulk money to do something tangible, money I will be able to invest, even if it is once in a while. "All the same, I am grateful to God for what I am doing now, may be this is where He wants me to be at the moment. In a nutshell, there is still a lot of room for improvement. Like some would say, it could be far, far, far better."

Vanguard, MONDAY, JUNE 1, 2015 — 43

Advertising & Promotions

*A record 486 people crocheting simultaneously for 20 minutes on April 24 at the American University of Nigeria's Commencement Hall. They were working to beat the Guinness World Record holders in the Most People Crocheting Simultaneously currently held by Americans.

Ikeja Electric: Changing perception, new realities STORIES BY PRINCEWILL EKWUJURU

he findings of recent survey of private equity backed companies indicates that the popular perception of private equity as an investor is only involved for short term gains as this couldn’t be far from the truth as propounded by Price Water Corporation, PwC. The reality is that private equity houses appear to be more willing to finance companies than traditional lenders are prepared to invest for growth. The survey of nearly 100 private equity backed companies showed that 74 percent of portfolio companies said their private equity backers were willing to invest more capital into their businesses, compared to 66 percent of respondents saying the same about their lenders – with more than a third of portfolio companies saying their lenders were not willing to extend further facilities. Overtime, private-equity performance has been misunderstood in some essential ways. It now seems that the private-equity industry decisively outperforms public equities with respect to risk-adjusted returns, which may prompt return-starved institutional investors to allocate even more capital to the asset class. Invariably this good news comes with a question mark: top private-equity firms now seem less able to produce consistently successful funds, this the Ikeja Electric, IE, a distribution company had succeed in, acquiring about $106 million (N21.2 billion)

under its Advanced Metering Infrastructure, AMI, would assist in curtailing energy theft and put an end to estimated billing system. Recently, IE, which emerged after the unbundling of the Power Holding Company of Nigeria, PHCN, in a press briefing showed a new way of changing the perception of its consumers in the face of challenges faced by electricity consumers in that zone, and the effort to

reposition the company. Vanguard sampled the opinion of consumers in that zone and got the following reaction from some consumers: In the face of IE, their lenders or personally sourced financier will be ready to invest more because the impact of right billing will be a major advantage for the distribution company, said Louis Eze, a consumer in Ikeja. A business owner in Ikeja,

Morgan Nwachukwu said: “We know electricity is deplete in Nigeria as a whole, but if the said meter is introduced it would be a relief for us business people, because we can only pay for energy consumed. Meter tempering will reduce as we learnt the meter is temper sensitive, may be also monthly service charge not carried out will stop.” “This attempt by IE will restore the confidence of electricity consumers in the zone, and Nigeria generally,” Kingsley Alle stated. “If this works, other Discos may be tempted to toe the line of IE,” Godwin Ifeajuna noted. Before now, the metering system in the electricity industry in Nigeria has been embarrassing and had depleted the pockets of consumers. To put an end to this, the Managing Director of Ikeja Electric, Mr. Abiodun Ajifowobaje, said in Ikeja, that the metering initiative known as smart metering, would address some challenges associated with billing system. Ajifowobaje said the pilot project started last month with test-run of 2,000 meters for consumers who had electricity challenges or non-functional meters in the six business districts in the zone.

Dance, story-telling, as Peak milk celebrates 60

ance and story-telling was what Friesland Campina WAMCO Nigeria Plc needed to celebrate Peak Milk at 60. The Managing Director of the company, Mr. Rahul Colaco, while speaking at the celebration ceremony, described Peak as “a truly Nigerian iconic brand,” while expressing happiness and appreciation of Nigerian’s loyalty to Peak milk and “particularly those who have come from far and near for the celebration of 60 years of nourishing Nigeria with quality dairy nutrition.” He said, “since the presence of Peak in the Nigerian market, the brand has continued to grow despite several changes in the market. Peak’s success is attributed to two things: First, a singular focus, which is to nourish Nigerians with quality dairy nutrition in order to reach their Peak. Second, continually exploring ways to stand out of the crowded shelf and touch our consumers through every stage of their lives. Peak has won industry recognition as an innovative and trendsetting brand that delivers superior

dairy nutrition across lifestages. The Brand’s positive results and success is about connecting with our Consumers, supporting our Business Partners and communities to pursuing their aspirations and reach for their Peak!

Every Nigerian grew up with Peak; Nigerians are still growing with Peak and without Nigerians, there won’t be 60 years of Peak milk, the iconic brand that has served the good people of Nigeria from generation to generation.”

Media Perspectives targets 61m MTN subscribers with GMN initiative

edia Perspectives, a media buying agency and seven other firms said they have combined strength to give the 61 million subscribers on the MTN network 30 minutes free airtime, if they make 3 three minutes call between 5am to 8am in the morning, in an initiative tagged; Good Morning Nigeria, GMN. The seven other firms are: MTN, ARM, Coca-Cola, Jumia, Leadway Assurance, Mansard and Samsung. GMN is a Corporate Social Responsibility, CSR, as well as advertising-funded initiative that will enable subscribers enjoy free talk time which kicked off on May 29, 2015, will require callers to subscribe to be eligible to enjoy the free calls. Speaking during a press conference to announce the GMN initiative the MD/CEO, Media Perspectives, Tayo Oyedeji stated that the campaign was a CSR initiative conceived to enable phone users to make extended phone calls. He added that for subscribers to enjoy this free call, they have to make a 3-minute straight call to an MTN number to get 30 minutes free to continue on the same call. To receive this benefit, customers will be required to text GMN to 131. The service which is only available on the MTN network is an innovation that will deploy mobile advertising while making phone calls free.

LASACO Properties finances N400m LED billboard

ASACO Properties and Investment Limited, says it has invested N400 million on an LED digital billboard owned by Mediaview Limited, erected at Oko-Cole, a suburb by the third mainland bridge. The billboard which is standing at 25sq meters by 740 sq meter display space is said to have six advertisement slots only, and was constructed by HighSun Group China. Group Managing Director of LASACO Group, Olusola Ajayi, in Lagos while speaking at the commissioning of the billboard which is powered by a plant, said for the company to finance the project was a proper investment, more so as at the last sitting of the board, the members visited the site. Answering our reporter, the GMD stated; “it is a normal transaction that went through the board, and it went through the security check of the company.”

Selfie contest drives traffic to Hollandia yoghurt —Chi Limited

ollandia yoghurt selfie contest embarked upon by the brand from the stable of Chi Limited has been driving traffic to the brand the company said. The company in a statement said the selfie contest which started may 1st, 2015 is o twitter, facebook and instagram. According to the company participants who emerge winners will go home with prizes from Iphone 6, Samsung Galaxy tab and cartons of Hollandia yoghurt. To participate in the contest, consumers are required to take creative pictures or selfies with two or more individuals while enjoying and posing with packs of Hollandia Yoghurt drinks. The individuals may be family, friends, colleagues, classmates or loved ones. The photographs will then be posted on Hollandia Yoghurt Social media pages, Facebook, Twitter, and Instagram using the hashtag #ShareUnlimitedGoodness. Winners would be selected based on originality, content and creativity. C M Y K

44 — Vanguard, MONDAY, JUNE 1, 2015 Email:lesleba@lesleba.com, lesleba@gmail.com Blog page:www.lesleba.com/blog2 Website: www.lesleba.com Tel:0805 220 1997

ore Nigerians will probably consider widespread insecurity, unstable power supply and our faltering economy as the three most critical challenges for which President Muhamadu Buhari would have to urgently find sustainable solutions. Nonetheless, some critics may trace the root of insecurity to increasing desperation from unemployment and ‘forced’ idleness on a rising proportion of our youth population. There is probably a consensus; however, that the prevailing suffocating unemployment rate would be minimized if the economy was ‘bubbling’ with industrial and commercial activities. There is, probably also a consensus, that steady power supply would trigger a burst of economic activities that would readily mop up idle youths from our streets to reduce the threat of insecurity. It is however, not so obvious that, despite the best intentions of government in the privatization of the sub-sector, power supply may never become stable if enabling regulatory monetary indices also elude our economy. For example, inaccessibility of cheap funds has been identified as a major constraint to the capacity of privatized PHCN subsidiaries to effectively provide stable power supply; evidently, only few businesses with medium to long term gestations can survive if they are funded at the prevailing interest rate of over 20%. Furthermore, weaker Naira exchange rates will continue to spur electricity tariff (just like petrol price) to make complete deregulation of the power sector also unpopular. We may deduce from the preceding that insecurity will diminish, and power supply will become steady, only when

much surplus funds exist in Nigeria’s economy, while the real sector remains severely deprived. In the manner of a futile trial and error exercise the regulator ’s mandatory cash reserves for banks were differentiated, with the ratio for government deposits rising within 18 months from 20 to 75% only to become harmonized again with private sector deposits, at a consolidated ratio of 31% at the MPCs May 2015 meeting. Sadly, however, systemic liquidity surplus remain unabated! Indeed, media reports suggest that with the harmonized 31% cash reserve ratio the MPC may have unwittingly released additional liquidity of over N470bn into an already cash saturated market (see story titled “CBN hides banks’ interest earnings on standing deposit facility” on pg. 28, Vanguard newspaper edition of 18/5/ 2015 ). In response to the ensuing liquidity surfeit, shortly after the MPC’s decision, the CBN compulsively embarked on another borrowing spree from the banks to reduce the debilitating cash surplus in their custody with the sale of over N200bn treasury bills at mouth watering rates which were ironically above 12% for risk free sovereign debts, which normally attract less than 2% interest in better managed economies. Furthermore, the CBN and MPC will not deny that systemic surplus cash is also responsible for the weaker Naira exchange rates which trigger rising fuel prices to make deregulation of the subsector impossible. Thus, if the MPC’s shenanigans escape further attention, President Buhari’s tenure in office will not be radically different from the locust years of the recent past.

Buhari vs a clueless MPC? an enabling economic environment is in place. Universally, the relative ratios of inflation and cost of funds usually signal the growth trajectory of every modern economy; for example, as best practice in more successful economies, inflation will generally remain below 2%, so that consumer demand will be sustained to power increasing industrial activity. Similarly, wherever the inflation rate is closer to 10% as in our case, poverty deepens, as incomes lose about 50% of purchasing power every 5 years with adverse consequences for consumer demand and ultimately for national productivity and employment. Clearly, the objective of management in successful economies would be sustainable lower cost of funds below 7% to encourage borrowing and spending in order to spur consumer demand and also make cheap funds available to the real sector, so that businesses can readily provide more goods and services and in the process increase employment opportunities which in turn support further consumer demand in a cycle of productive economic activity and inclusive growth. Clearly, the above scenario sharply contrasts with the management of our domestic economy, where the critical monetary indices which drive growth are in reverse gear. Thus, it would be mischief for anyone to suggest industrial regeneration or any serious expectation for reduction in unemployment rate when inflation is almost 10% while cost of funds exceeds 20%. Clearly, as witnessed from our national experience, abundant

natural resources will not automatically translate to sustainable economic growth without the universal drivers defined above to galvanize resources to produce increasing social wealth which will in turn engender enhanced security if distribution is more equitable. The question therefore, is who has the responsibility for initiating those strategies that will bring about the desired enabling environment? Well, in addition to its responsibility for banking regulation and supervision, the Central Bank has a constitutional mandate to establish minimal inflation and low cost of funds; the CBN also has the responsibility to manage the Naira exchange in the best interest of the economy. Indeed, in order to protect CBN in its performance of its crucial mandate; the autonomy of the Apex Bank was enshrined in the 2007 CBN Act. Furthermore, the CBN Governor also heads a Monetary Policy Committee (MPC) which comprises eminent professionals who receive allowances to convene

Eminent professionals in Nigeria’s Monetary Policy Committee seem impervious to the socially oppressive impact of their decisions

bi-monthly to dictate the direction of monetary strategy in line with perceived needs of the economy. Sadly, despite its 244 meetings since inception, the MPC has in recent years failed to create the enabling environment for economic rebirth, while the impact of several of the Committee’s decisions has become counterproductive. Clearly, the inexplicable systemic burden of surplus cash has become the albatross of the MPC and made it impossible for CBN to restrain inflation below 3% or keep cost of funds below 10%; consequently, Nigeria’s economy has remained grounded with disturbing social consequences for several years. Regrettably, the eminent professionals in Nigeria’s Monetary Policy Committee seem impervious to the socially oppressive impact of their decisions on millions of helpless Nigerians. For example, the MPC’s high monetary policy rate of 13% will guarantee banks a free income of over N600bn, in return for lending back, primarily government deposits, to both CBN and the three tiers of government in 2015! This bounty would be supplemented by over N30bn that banks would also earn for warehousing close to N100tn of their excess funds with the CBN; furthermore, the usually juicy returns from forex roundtripping will also embellish bank profits this year; conversely, however, in more successful economies, banks would normally pay a fee of up to 1% rather than earn interest for placing their surplus funds with their respective Central Banks. It is inexplicable that so

Business & Economy Cocoa harvest compounds Ghana’s woes in bitter month for bonds

he risk of the smallest cocoa harvest in five years is combining with power cuts and a weak oil price to cloud the prospects for Ghana’s debt. Output from the world’s second-biggest producer of the chocolate ingredient may drop 25 per cent from last year, according to Ecobank Transnational Inc. That’s curbing revenue from the commodity that was the biggest source of Ghana’s foreign exchange in the first quarter. According to Bloomberg Ghana’s Eurobonds lost 1.9 C M Y K

per cent in May, the fourthbiggest retreat after Venezuela, Costa Rica and Gabon among 58 emerging markets. A drop in cocoa production “adds to the negative backdrop of a depreciating currency, the impact of oil prices on the budget and slowing growth in Ghana,” Kevin Daly, a Londonbased money manager at Aberdeen Asset Management Plc, who oversees $13 billion in emerging-market debt, said by phone. “A much lower production number is negative for the currency and the

budget.” A fungus outbreak that caused the cocoa shortfall, the worst blackouts in at least eight years, inflation at a four-month high and a currency down 20 percent this year against the dollar are constraining growth in West Africa’s second-biggest economy. The government is forecasting the slowest expansion since 1994 at 3.9 percent this year, while trying to narrow a budget deficit through the help of an International Monetary Fund package signed in April.

Omoh Gabriel Babajide Komolafe Clara Nwachukwu Peter Egwuatu Yinka Kolawole Favour Nnabugwu Godwin Oritse Godfrey Bivbere Michael Eboh Franklin Alli Ifeyinwa Obi Rosemary Onuoha Nkiruka Nnorom CONTRIBUTORS Princewill Ekwujuru Jonah Nwokpoku Naomi Uzor Providence Obuh LAYOUT

Group Business Editor Deputy Business Editor Energy Editor Asst. Business Editor Snr Bus. Correspondent Insurance Correspondent Maritime Correspondent Maritime Correspondent Energy Reporter Industry/Agric. Reporter Maritime Reporter Insurance Reporter Capital Market Reporter

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Vanguard, MONDAY, JUNE 1, 2015—45

Population control is not in our DNA — Prof. Babatunde Oshotimehin, Executive Director, UNFPA By Sola Ogundipe

HE United Nations Popula tion Fund, UNFPA, has described as false and misleading, reports alleging that it is attempting to coerce the pregnant girls and women rescued from Boko Haram insurgents in the Sambisa Forest, to terminate their pregnancies. UNFPA Executive Director, Prof. Babatunde Oshotimehin, who debunked the allegations, said UNFPA has no such agenda despite claims by anti-family planning groups that the UN body is helping to advance abortion and anti-population programmes in the country as a whole. His words: “Let me quickly say that allegation is not true. It is detracting from the good work we do and pointing at things we do not do. It is negative and wrong. “For as long as I have known it, UNFPA has not engaged and will never engage in the concept of population control. We do not do that, it is not in our DNA. What we do and have done since 1994 is to work with governments,” he stated. Oshotimehin, who spoke to Features Health & Living, said UNFPA is partnering with the Federal and state governments to provide support and ensure that life comes back to normal in the affected areas.

Family planning “I want it to be clear that family planning is not alien to Africa. The Planned Parenthood Federation of Nigeria, PPFN, is almost 50 years old, so I don’t know where the notion of it being forced or alien comes from. Further, he said:”The UN system does not go into a country except the country says come, and what we do in that country is the plan of that country. We work with the government. Nobody can force anything on a sovereign country. “Since 1994, the plans of Nigeria has always been asking UNFPA to support voluntary family planning. It is about making sure women can take up the services and space their births and make sure they don’t die. That's what we continue to do. It has nothing to do with population control or coercion of any sort.” Recalling that Nigeria initiated a population policy under Prof Olikoye Ransome Kuti as Minister of Health, he said the policy has been reviewed and was launched about two years ago. C M Y K

• Prof. Babatunde Oshotimehin. “When we had the family planning summit in 2012, Nigeria was represented at the highest level by the then Minister of State for Health, Dr. Mohammed Pate and Nigeria pledged to spend $8.5 million on contraception. Before then, it had pledged to spend every year $3 million annually on family planning commodities. “What UNFPA does is to provide safe motherhood services, contraceptives, fistula repair and HIV/AIDS prevention to women

Let me quickly say that allegation is not true. It is detracting from the good work we do and pointing at things we do not do. It is negative and wrong

in 140 developing countries worldwide. “Our belief is that governments must invest in health and education. This is what we are doing with the World Health Organisation,WHO, UNICEF, and other partners. In every country we have worked, that is what happens. Further, he said: “Let me underscore that our work is about voluntary family planning and educating women to make choices, providing choices for them, giving them quality care, and making sure they do not die giving life. “I want to correct any notion to the contrary. All we do is work with the government and make sure that our wiomen get appropriate services even in the most remote parts of Nigeria and we are going to continue to do that. “I commit UNFPA and indeed myself as a Nigerian to helping every Nigerian woman and girl to make choices in her life so she can have quality and dignity.” Arguing that the Federal government needs to invest in health so young people will have access to health and good nutrition, Oshotimehin asserted that within this framework, it is important for young people to have access to quality sexuality education, because they must know about their bodies and their own vulnerabilities. The girl child:“I was happy when I read the statement by President Mohammadu Buhari

on the girl child. He spoke to the issue of the girl child and said it is important that he is going to empower them. UNFPA is ready to work with the government to do this. The health, empowerment and education of the girl child is within the framework of the demographic dividend. Illustrating the demand for family planning services in the country, the UNFPA boss noted: “I have been a doctor for 43 years. When I started in Ibadan, I used to have women come into my clinic in the University College Hospital, UCH, to demand for family planning services. They said they wanted contraceptives that their husbands would not know about, and I asked why? Their reply was that they wanted to be in position to look after their children properly and be able to afford to send them to school. “These were market women, not the average educated women. So if you looked at the acceptance of family planning in most of Africa today, what you see is that injectables is what most women want and that is what they get. Dignity Kits: He said UNFPA's reproductive health kits and Dignity Kits are being deployed to strengthen sexual and reproductive health in the conflict-affected states. “The Dignity Kit is like what you get on an airplane, it contains personal items like soap, toothpaste, underwear, sanitary towels.” In collaboration with the state governments, health workers have been mobilised and deployed to providing psychosocial support and health services to the rescued women and girls, as their family and community members.

Dental care starts from the womb — OLATOSI By Gabriel Olawale

S Nigerian’s celebrate this year’s Children’s Day, expectant mothers have been urged to eat healthy foods as part of measures to ensure good oral health for their unborn babies. Speaking during an event to mark Children’s Day organised by the Lagos University Teaching Hospital, LUTH, for school children in Lagos, a Consultant Paediatric Dentist, Dr. Olubukola Olatosi said dental health for children starts the moment a women gets pregnant, adding that any illness experienced during the period would affect the development of the baby’s teeth. Olatosi said pregnant women are encouraged to eat balanced diets particularly foods enrich with calcium be-

cause as pregnancy is developing so also the teeth. She further condemned the idea of mothers leaving feeding bottles in their baby ’s mouth, adding that such behaviour could threaten the health of that infant. “Some parents leave feeding bottle containing formula in their baby’s mouth as a way of pacifying that child to sleep. This attitude can expose such infant to tooth decay.” “Once the child is born, the mother is expected to start cleaning his mouth with either cloth or cottonwood, and little salt inside warm water after breast feeding the baby. As soon as the first teeth erupt, the mother should start brushing the teeth with fluoride containing tooth paste so that aside cleaning the mouth, it will also make the teeth strong.” “When that child is around

• Dr. Olubukola Olatosi two years, he will be struggling to brush by himself, at this time; the mother is expected to allow the child to do the first brushing while the mother later carried out the second brushing. This can continue till when the child reaches age 10, by that time the child

would have gain enough experience to do it alone. The job of mother then will be to remind the child to brush his teeth.” Olatosi however cautioned Nigerians to be mindful of the type of tooth pick they use in picking their teeth to avoid damaging their teeth in the process. She, however, advocated for regular brushing with fluoride containing toothpaste, adding: “It is ideal to brush twice a day, first thing in the morning and last thing before bed at night. We also encourage all mothers to take their children to dentists before their first birthday. It is not until the child presents with pains before they have to visit a dentist. Once the child starts to lose teeth, he will not be able to chew very well. It is ideal for everyone to visit their dentist at least twice a year.”

46—VANGUARD, MONDAY, JUNE 1, 2015

2015 POLLS:

How PDP money strategy backfired — Tanko Yakassai •Why we stood up for Jonathan •My doubts about President Buhari ELDER-STATESMAN Alhaji Tanko Yakasai, was a frontline leader of the Northern Elements Progressive Union, NEPU during the First Republic and played an active part in the politics of the Second Republic having been a member of the National Party of Nigeria, NPN and was Special Adviser to President Shehu Shagari on National Assembly Matters. Yakasai was the brain behind the Northern Elders’ Council, NEC, a strongly partisan group that favoured the reelection of former President Goodluck Jonathan. In this interview, Yakasai bares his mind on why he supported Jonathan, reasons the former president failed and his scepticisms on the capacity of President Muhammadu Buhari among other issues. Excerpts:

By Henry Umoru

OU were really involved in the election and your party lost. How does it feel? You misunderstood me. I don’t belong to any party. I left party politics since 2001 and today I have never joined any party. I did that purposely so that I can be free to say what is on my mind so that I don’t have party encumbrance. In that case, President Goodluck Jonathan, the candidate you supported lost. He conceded. If he conceded, what about those of us that supported him? We conceded along with him. That is the end of the matter and this is the first time in the history of Nigeria; it is not an easy thing either in the local government, state or presidential election, state assembly, National Assembly, this is the first time a candidate has voluntarily conceded defeat even before a formal announcement of a winner was made. It is not an easy thing, but if the man you are supporting conceded defeat during election, then what is your concern? We supported him to win and he didn’t win that is the end of the matter. He will wait for another day if he is alive and we are still alive and if he is interested he will contest and if we still feel we should support him, we will support him. In your own view, did the PDP really work? They didn’t work. They took

things for granted. There were two things that happened apart from their opponent’s efforts. First, PDP members believed that work or no work, they will win the election because they were controlling the federal and state government, so, they did not work. Secondly, PDP as a party and the Presidential Campaign Organisation didn’t start serious activities for the election until just a few weeks to the election. I understand that few weeks to the election, they started sending out funds for the campaign. All the time they were going around the country, they were just sending funds only for the purpose of the rallies and no funds were taken to the wards and grassroots for campaigns. They were only sending money for the rallies and when the rallies finished that was the end of it until two weeks before the election that they started sending the money and you see, my experience is that if you are going to keep money for campaign, don’t give it to an individual, give it to a community, a group of people, if you give it to an individual, he will pocket it or pocket half and release half no matter how honest he is, but if you give it to a group even if they will connive to pocket the money to share it amongst themselves, they will work to ensure that the money which you gave them that the work is done and I don’t know why PDP didn’t give money to groups and decided to give money to individuals.

•Yakassai: In the north, there was a clamour for power shift They had a party structure yes you always set up a campaign committee or organisation to help and the work of the campaign organisation is to support the effort of the party and not to sideline the party.

PDP members believed that work or no work, they will win the election because they were controlling the federal and state government, so, they did not work

The party was complaining that they were not involved in the campaign, that the money for the campaign wasn’t given to them, it was given to the campaign organisation, you don’t do that! If you are going to do that, give some to the party, give some to the campaigners because the campaign organisation has no structure at the ward level where the grassroots people live. The party has structures at the national level, zonal level, local government level, ward level, even village level. If you give the money to the party, the money will go down to the grassroots level, but if you give it to the campaign organisation which has no structure even if they want to distribute the money, they don’t have the structure down to the

ward level or village level and therefore can’t distribute the money effectively at the party. There are certain areas of activities that you will confine to the campaign organisation; posters, vehicles, public address system, but when it comes to the question of looking for votes, the party is more effective because they know individual members of the society who are going to be voters. These are the shortcomings I observed. But the APC didn’t spend money like PDP? No they spent money. But there was this issue of change? In the north, there was a

Continues on page 47

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My doubts about President Buhari — Yakassai Continues from page 46 clamour for power shift and that campaign was effectively conducted. Some traditional rulers were involved, some academics were involved, virtually all the universities were turned into campaign outfits for the APC, the religious leaders were also involved. On Friday, which was the eve of the election, in most of the wards all over the north, the Imams preached that tomorrow when you go out to vote that there were two principal candidates in the race; Buhari and Jonathan. But when the Imam said if you go to vote tomorrow, don’t vote for an infidel and to a Muslim anyone that is not a Muslim is an infidel, you are a Christian, you are a Jew, you don’t belong to any religion you are an infidel. So if the Imam says don’t vote for an infidel and the candidates are two; one a Christian and the other a Muslim, he doesn’t need to mention anybody’s name before the message was sent and people got that message. I have been informed that INEC in some cases became a winning tool for the APC campaign. I was told of a state where the governor hosted INEC officials to a dinner where they decided how many votes to be allocated to PDP and how many to APC. They went to secret locations and thumb printed the ballot papers and dumped them into the boxes. The plan was that they had extra boxes and thumb printed the ballot papers and dumped them there when the actual ones from polling units were brought in they were exchanged with the fake ones and PDP didn’t know. A campaign organisation can’t know this, but the party will know because they have branches everywhere. If you don’t empower them them...I know they didn’t work hard as a party, but to sideline your party and give resources to a temporary outfit, was not helpful. Also, everyone know that PDP ministers did not work for the party in their respective states. Where they were in the position to make money, they made for only themselves, they didn’t dedicate any part of the money they made for the party in their respective states to spread its campaign. Now all these are shortcomings that will tell on any party at the end of any election. I will say in spite of that

Jonathan was lucky in the sense that this is the lowest margin where a candidate was defeated in spite of all the problems, he was defeated by the smallest margin in the history of Nigeria. If you go through the records of previous elections, the margin was within 10 million votes, but this time it was 2.5 million. It has happened and the rest is history. Why do you think your group, the Northern Elders Council, NEC was seen as confrontational to the Arewa Consultative Forum, ACF. Do you have any regret working for Jonathan? No, you made a mistake. We came to send a different message from what ACF was expressing. Why did we come out? When the Northern Elders’ Forum, NEF was formed, its spokesman, Ango Abdullahi said that if Jonathan is elected, there will be war in Nigeria; a supporter of the group, Dr. Junnaid Mohammed came up and said that there will be bloodshed; Lawan Kaita, another supporter of the group said that if Jonathan is elected, they will make the country ungovernable for him and all were reported in the newspapers and we felt that if we allow these reckless statements to go unchecked, people in Nigeria and outside will think that this is the consensus opinion of the people of the north. So we decided to send a different message so that people will know that this is not the true reflection of the feeling of the entire people of the north that there are people who will not agree with that and that was the message and we are grateful that we have delivered that message. Till tomorrow, there are people who know that all what they said wasn’t the

I wasn’t just supporting Jonathan as an individual; I wanted to send a message because the impression given was that the north was against the South

•Yakassai: Jonathan was being castigated and hated totality of the opinion of the people of the north and this is our message and we have delivered it. Do you have any regret supporting Jonathan? No. I contested election first in 1951 just to be a delegate to an electoral college and I got only 2 votes, my nephew and my childhood friend were the only two votes I got. After that in 1954 elections, I contested again and I didn’t win. When 1956 election came, I contested and won, but I was denied the seat. I contested again when the 1959 elections came to the House of Representatives which I believe I won because there was a group that reported I won, but they didn’t give me, but I wasn’t discouraged. I waited till 1961 to contest again and I didn’t win. In 1964, I was in prison and yet I contested. I have been contesting elections loosing, but I have never been discouraged because I didn’t go to politics just to win elections and look at Buhari, he contested three times and he didn’t win. In fact, he announced after he lost that he wasn’t going to contest again, but his supporters said that if he didn’t contest that they can’t win; those who wanted to be governors, House of representatives then persuaded him and said if you

don’t contest, we will not win and in the process, God made it possible for him to win, but if he had given up will he be the president today? They don’t go to politics to win. It is just like when you are going to war you go with two alternatives; either to defeat your enemies or your enemies to defeat you that is why when generals realise that they are losing a battle, they retreat to go and prepare for another time.

No regret supporting Jonathan So I have no regrets. I wasn’t just supporting Jonathan as an individual; I wanted to send a message because the impression given was that the north was against the South. That Jonathan was being castigated and hated because he was a Christian and a Southerner. I am a northerner and a Muslim. I was born and raised in Kano State and all my children are northerners. In fact the contribution they brought to the north in terms of human power; I had 23 children, four of them died and 19 of them are still alive and all the 19 are graduates, they are on their own, I am not paying for anybody’s school fees now, I am just on my own; that is my contribution. How many of those who are fighting us have made such a

contribution to the development and growth of the north? I am a northerner like any other person but I feel that a wrong message was sent that every northerner is against Jonathan because he happens to be a Christian and a southerner, we can’t leave on our own. Now what happened? By this election we acted the script of Gideon Okar. North West and North East which Gideon Okar said that he decided to excise from Nigeria now by our own action we have excised ourselves from Nigeria. The Igbo are nursing grudges against us even though the civil war was fought between the federal forces and Biafra forces, but to the average Igbo man, it was a war fought between Igbo and Hausa/ Fulani. You can’t erase it. When the 1993 election was contested, northerners voted for Abiola, Tofa was born in Kano and raised in Kano, yet Kano voted for Abiola against Tofa, but when Babangida annulled the election, every northerner whether Fulani, Kanuri, Tiv, Nupe was hinted on the scene of that annulment and till tomorrow Yorubas are nursing grudges with northerners for that annulment. Now the only people to remain friendly with the north are the South-South people so now by this reckless action by some few northerners SouthSouth people now see us as their enemies.

48—Vanguard, MONDAY, JUNE 1, 2015

Puzzle over death of surveyor in collapsed building By Bose Adelaja

AYS after the death of a surveyor, W.O. Eyefia, on Friday May 8, 2015, tongues are still wagging over the strange circumstances surrounding his demise. Indeed, many people, including his neighbours at Asala Street, Isolo, Lagos, are still baffled by the development, especially as the deceased who was supposed to be a licensed and experienced surveyor died when a building entrusted in his care collapsed on him. Until his death, Mr Eyefia, an Urhobo from Delta State, occupied four rooms at the ground floor of the ill-fated storey building. When he woke up about 9am that fateful Friday hale and hearty, he was naturally oblivious that anything could go wrong, especially one that could put his life at risk or even send him to his untimely grave. ‘’Daddy’’, as he was fondly called, who lived in the building with his immediate family, also doubled as the caretaker. But many people in the area were said to have severally warned about the poor condition of the building which they insisted needed urgent repairs. Their entreaties in this regard were said to have fallen on deaf ears. Indeed many residents in the area were of the view that being a surveyor by profession and the caretaker of the house, Eyefia should have recognised the danger signs and taken steps to put the building in order and ensuring the safety of those living there. The ground floor of the yellow painted building had the typical face-me-I-face you rooms, while the top floor was divided into room-andparlours and mini-flats. The tenants staying on the ground floor had only one functional bathroom to serve them. This bathroom was said to have been in a sorry state and required serious repairs. Sources said the landlord, who was not staying in the house, had budgeted N100,000 and authorised the deceased to spend same for necessary repairs on the faulty bathroom. Tenants in the building were said to have paid their rents annually through the surveyor. Neighbours said that from the rent collected in October 2014, the landlord released N100,000 to the caretaker to

effect repairs on the said bathroom. Unfortunately, this was not done even though the landlord was allegedly made to believe that the repairs were made. His co-tenants also claimed that they did not know that he had been given the money for the repairs until the day the sad incident occurred. Incidentally, on that fateful day, the caretaker woke up and, as usual, exchanged greetings with his neighbours and called their attention to the dilapidated bathroom, telling them to be careful while using it. But as if programmed for a date with tragedy, he headed for the bathroom to have his bath. It was while he was taking his bath that the bathroom collapsed, trapping him in the process. He died before help could come. On hearing the loud sound that accompanied the collapse, neighbours rushed out to see what was happening. That was when they saw that the bathroom section had collapsed and they immediately embarked on a rescue operation. But this was too late as the body of the caretaker was already buried in rubble. On hearing of the sad development the landlord was said to have rushed to the scene. On getting there, he was surprised to learn that the bathroom he approved money for its repairs as far back as 2014 was still in the same decrepit state; it was based on his reaction to this that tenants and neighbours got to know of the true situation of things and thereby voiced out their displeasure. Following the development, the state government has since

He headed for the bathroom to have his bath; it was while he was taking his bath that the bathroom collapsed, trapping him in the process; he died before help could come

*The building where the surveyor-cum-caretaker met his untimely end decided to carry out tests on some buildings within the neighbourhood. In the event, buildings deemed as being faulty have been marked, especially on Holy Saviour and Hassan streets, for likely demolition. Meantime, 4, Asala Street has been sealed up and occupants forced to relocate. During Vanguard Metro’s visits to the area, there were little or no activities on Asala

Street, while none of the landlords was around for a chat. On neighbouring streets, some residents of the affected buildings said their landlords had been trying to reach out to the relevant authorities in order to resolve the matter. A resident at Asala, Mr Gabriel Awoyinfa, claimed his landlord was instructed by the state government to carry out palliative measures on his building before May ending

failure of which the building may be demolished. However, Madam Aboyade Rukayat and Olabisi Ibrahim said many families will be rendered homeless should most of the marked buildings be demolished at the end of the day.

About 300 women, children rescued; only 6 women pregnant — NEMA

N the wake of the shock and outrage that greeted the news that some of the girls and women rescued from the Sambisa forest were pregnant, the Federal Government is said to have engaged therapeutic experts to initiate assessment and treatment of post-traumatic stress disorder, PTSD, to control the physiological symptoms associated with their prolonged stay in captivity. PTSD is said to enable patients to tolerate and work through the highly emotional material in psychotherapy. Making this disclosure recently at an interactive media platform hosted by PRNigeria, the Director General of the National Emergency Management Agency, NEMA, Muhammad Sani-Sidi, warned against stigmatising the girls and women, while affirming that

only six of them returned with pregnancy. He also used the opportunity to commend the military for their continuing combat against terrorism in the North East which he said has resulted in about 300 women and children being rescued from the Sambisa Forest, with majority of them being children. “Out of the 275, sixty three came unaccompanied and that is very worrisome; it is a terrible situation to have children under the age of five unaccompanied, meaning they have lost their parents and we cannot link them with their parents at the moment. Six of them came with pregnancy and that is a sympathetic situation. “ I must put it on record that only six of them came with pregnancy and we must add however that we must be very careful not to stigmatize this

innocent Nigerians who were under captivity and came back with pregnancy so that we don’t end up stigmatizing the child that is yet unborn. I think we must respect their rights and be careful by the way we talk about the issue and we should respect their rights,” the NEMA boss said. He explained that the success recorded by the military against the Boko Haram terrorist group has led to a drastic reduction in the number of internally displaced persons. He cited, as an instance, Adamawa State where “at the moment we have six camps which we call residential camps that are presently hosting about 27,000 IDPs in Yola in particular and we have over 200,000 living within the host communities, whereas we had about 14 camps at the beginning of last year in Adamawa State alone.”

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Scarcity: NIPCO boosts fuel reserves with 37m litres imports By Clara Nwachukwu

AGOS — AN oil firm, NIPCO Plc, has augmented reserves and distribution of Premium Motor Spirit, PMS, also known as petrol, with 28 million metric tonnes (37million litres) imports. An import manifest from the nation’s premier port showed that the cargo which contained

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the product arrived the country via MT Admiral L at Apapa jetty last week. Oil marketers, it would be recalled, had earlier halted importation of petrol on account of outstanding subsidy claims of over N200 billion debts, which the government owed them, includuing the foreign exchange differentials and interest.

Although the pledge by marketers made through the Depot and Petroleum Products Marketers Association, DAPPMA, that they would begin importation of the product was received with some level of scepticism, checks at the depots in Apapa showed that products importation has begun in earnest. The 28 million metric tonnes fuel cargo began

discharging Friday, and is expected to augment what the Nigerian National Petroleum Corporation, NNPC, brought in to save the situation. Manager, Corporate Affairs, NIPCO,Mr. Lawal Taofeek, confirmed in a telephone chat that the company had begun importation. According to him, NIPCO took this bold step of importing at

this period in the nation’s history based on its avowed belief in the resilience of the economy “and we will remain an ally in ensuring availability of fuel across the nation.”

1,500 trucks lift product

Meanwhile, checks on NIPCO’s terminal showed that the over 1,500 trucks have already lifted the product from the depot. “This is because this depot, like a few others, has been working round the clock to dispense product to marketers after they must have concluded clearances from all the relevant government agencies,” Lawal said, adding that the new “consignment will definitely aid the flow of products to marketers' outlets across the nooks and crannies of the country. “The cargo is one of the consignments the company ordered for as part of its role in ensuring continuous availability of petrol not only in its hundreds of branded outlets in Nigeria but also in other marketing outlets taking products from the depot.” According to him, loading of products has continued ceaselessly in a bid to ensure that the type of agonies Nigerians faced in the last couple of weeks do not reoccur, stressing: “We would not relent in this onerous responsibility in line

with our mission of meeting the needs of all stakeholders in the oil and gas industry.” Lawal maintained that products importation and its seamless distribution remained one of the hallmarks of the company, a development which had been a major strength of the company among its peers. Product importation to complement NNPC supplies, he claimed, is one of the concrete steps taken by the company to meet the needs of its customers who had remained steadfast with the organisation in the last 11 years. He said: “The dream of the investors in the company, who are mainly fuel marketers, has been the driving force of the organisation, hence its quest to go the extra mile in getting products that will keep their stations wet “In 2015 and beyond, we intend to enhance our product importation both for regulated and deregulated products in the quest to meet fuel marketer ’s needs and prepare adequately for the upcoming reforms in the oil and gas industry.”

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Buhari appoints Femi Adesina, Garba Shehu media aides P

RESIDENT Muhammadu Buhari, yesterday, made the first appointments of his administration with the

Ben Agande & Levinus Nwabughiogu appointment of two reputable

journalists to head his media team. Mr. Femi Adesina, Managing Director of Sun

Buhari’s body language shows positive change— CATHOLIC PRIEST

OS—THE Catholic Archbishop, Ignatius Kaigama, has said President Muhammadu Buhari’s body language so far shows that he is ready for the positive change Nigeria needed. Kaigama, the Archbishop of the Catholic Archdiocese of Jos, stated this on Sunday during a mass at the erection of St Michael’s Pastoral Area Pwomol-Heipang to the status of a parish. The Archbishop, who is the President of Catholic Bishops Conference of Nigeria, CBCN, said he was highly impressed with Buhari’s inaugural speech. He said: “Buhari said he belongs to everybody and

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belongs to nobody. I think what he is trying to say is that he will not be a sectional leader. “This is quite positive and we must continue to pray for him to actualise his vision for the country.” The CBCN President said the country was in dire need of peace and other needs like water, roads and electricity. He expressed the hope that the new administration would bring the positive change. The cleric thanked God for those that served the country in the past, including former President Goodluck Jonathan, for ensuring peaceful elections

and transition in the country. “We must thank him for not causing trouble because if he had decided to cause trouble, Nigeria would not have been enjoying the peace that is currently being experienced,” he said. Kagaima appealed to the Plateau people to pray for Governor Simon Lalong, who he described as “product of divine providence.” Kaigama said: “When Lalong was declared governor of Plateau, he immediately came to me to pray for him and I remember he told me that his agenda would be peace, unity, reconciliation and social development.”

Newspapers Limited, was appointed as Special Adviser, Media and Publicity; while Mallam Garba Shehu was appointed as Senior Special Assistant, Media and Publicity. Also yesterday, a former aide of President Goodluck Jonathan, Mallam Lawal Abdullahi, who served the former President as Special Assistant (Presidential Matters) was appointed as the Chief of Protocol to the new President. Mr. Adesina is the current President of Nigerian Guild of Editors, NGE, and serves as the Managing Director/ Editor-in-Chief of The Sun newspapers. He started his journalism career in Vanguard Newspapers. Garba Shehu served as the Director, Media and Publicity of APC Presidential Campaign Council. He was the President of NGE 16 years ago.

Firms partner on mobile week

RCHOS SA, a smart phone, tablets and connected objects manufacturer, has signed a partnership deal to support the Jumia Mobile Week Megathon. Group CEO of Archos SA, France Loic Poirier, said Archos was proud to be a good player in the biggest mobile sales event in the Nigeria shores, adding “the Jumia Mobile Week Megathon has been described as some form of heaven on earth for mobile phone lovers and our customers. “This is because our assortment of flagship phones will be selling at fantastic prices all through the mobile week, from June 1 to 7. We have also created Archos 59 Xenon, one of our latest designs, exclusively for this event.” Poirier said Jumia had grown to become the largest and most trusted retailer of mobile phones and other items in Nigeria.

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CBN's operating surplus falls by N174bn ...as Mint suffers N1bn loss By Babajide Komolafe

AGOS—THE Central Bank of Nigeria, CBN, operating surplus (net income) fell sharply by N174 billion to N33.8 billion in 2014. This represented 81 percent decline when compared with the N213.5 billion recorded in 2013. In the same vein, the Nigeria Security Printing and Minting Company Plc, a subsidiary of the apex bank suffered a loss of N1.54 billion in 2014. The CBN disclosed this in its financial statements for 2014 released weekend. In its summary of the statement, the CBN said: “The Net Income for the year is N35.422 billion for the Bank while the Group’s Net Income is N33.893 billion. In line with the provisions of the Fiscal Responsibility Act 2011, 20 per cent of the net income of the bank ( exclusive of unrealized gain) will be credited to the retained earnings while the balance will be paid to the Federal Government of Nigeria. After considering the effects of the unrealized gains as stated in note 33a, no payments will be made to the Federal Government in the financial year.” Analysis of the financial statement revealed that the sharp fall in the operating surplus, also referred to as the Net Income, was occasioned by 11.2 per cent decline in the bank’s net operating income, and a 37 per cent increase in total operating expenses. During the year, the Net operating income of the CBN fell to N467 billion from

N526.2 billion recorded in 2013. The decline in income was majorly due to loss of N285 billion income from Imparment reversal which fell to minus N1.8 billion from N283.64 billion in 2013.

Net operating expenses on the other hand rose to N433.14 billion from N315.9 billion. This sharp increase was due to 94 per cent increase in Financial Sector intervention expenses, which

rose to N136.96 billion, from N42.7 billion in 2013. The financial sector intervention cost comprises loans to banks for onlending to the agricultural sector, and long term loans to the Asset Management Company of Nigeria, AMCON.

WELCOME HOME: Former President Goodluck Jonathan (left) with Senator Ehigie Uzamere, at the Presidential Guest House, Yenogoa, Bayelsa State when the former president was received on his return from Abuja,weekend.

Court ruled on rift over designation of oil, gas cargoes, INTELS insists

AGOS—GENERAL Manager, Legal and Corporate Affairs, INTELS, Mr Mike Epelle, has insisted that Justice Lambo Akanbi of a Federal High Court in Port Harcourt, Rivers State validated the designation of the various ports in Nigeria into different cargo terminals by the Nigerian Ports Authority, NPA and Bureau of Public Enterprises, BPE. Epelle said that the court even declared that the action was in line with the respective mandates of both the NPA and the BPE. He said that the court in a judgment in the case between Associated Maritime Services Ltd vs City Real Estate & Property Management Company, following the refusal of the defendant to pay the rate charged in respect of its cargo, held that there was merit in the plaintiff’s C M Y K

SENATE PRESIDENCY: Northern minority groups back Lawan, Akume ticket

case. The court had said in its judgment, “At the close of legal presentations by both parties, on the whole, and in the final analysis, I hold that there is great merit in the plaintiff’s case,” and affirmed that the designation of the various ports in the country into different cargo terminals by the Nigerian Ports Authority, NPA and Bureau of Public Enterprises, BPE, was in line with the respective mandates of the NPA and the BPE, and is ipso facto, valid, subsisting, authentic and therefore to be adhered to or complied with by both operators (concessionaires) and port users alike. He said that the judge also declared that all imports or exports of oil and gas cargoes are to be undertaken through the designated oil and gas cargo

terminals and are liable to be charged rates and delivery charges applicable to the oil and gas cargoes, as approved by the Nigerian Ports Authority. According to the Judge, “by virtue of the Nigerian Ports Authority ActCapN-123lawsoftheFederationof Nigeria 2004 and in particular, Sections

7(a),(b),(c) and (k); 8(1) and 32(1) thereof, the Nigerian Ports Authority is vested with powers to enforce compliance with the arrangements made by the BPE designating all Federal Ports in the Country as to guarantee, among others, the efficient management of port operations, optimal revenue inflow and return of investments in port operations and facilities”

ADUNA—A group of politicians and elite from the northern ethnic minority weekend appealed to the All Progressives Congress, APC, and its senators-elect to concede the Senate Presidency slot to the region as represented by the joint ticket of Lawan and Akume . The group which met in Kaduna urged the party to take cognisance of the contributions of the minorities in the three geopolitical zones of the north to the electoral successes recorded at the national and state elections and reward “us by conceding the Senate Presidency slot to Senators Ahmad Ibrahim Lawan and George Akume” The group said it is “incumbent on the new administration, the party in power and all senatorselect to support Ahmad Lawan from the Bade minority ethnic group of the north –east state of Yobe to become the Senate President and George Akume of the Tiv minority tribe of the north-central state of Benue to be the Deputy Senate President. According to them, the Lawan/Akume minority ticket for the Senate Presidency race should be considered along the line of the APC Presidential ticket of President Muhammadu Buhari and Vice President Professor Yemi Osinbajo, SAN, which represents the majority tribes of HausaFulani and Yoruba respectively, noting the religious sensitivity of the tickets as well.

Tecno offers scholarships to 3 pupils in Lagos By Emeka Aginam LAGOS—SMART phone manufacturer, Tecno has in recognition of the important roles children play in the society, at the just concluded Children’s ‘ day celeration gave out N100,000 scholarship each to three children from public schools in Lagos.

Similarly, Tecno also provided educational materials and stationeries to the selected schools in a bid to assist parents of the kids to provide basic and educational needs of their children. The four selected public schools included Ijaiye Okokoro Primary School, Tonia Primar y School,

Ebenezer Primary School, and Meiran Memorial School. Speaking during the weeklong event, the Marketing Executive of Tecno, Mr. Richard Ugo said: “Tecno Mobile is investing in the future of Nigeria through its corporate social responsibility initiative, Give Children A Future.

56 — VANGUARD, MONDAY, JUNE 1 , 2015

ISIL suicide bombers target Iraqi army HQ IGHTERS from the Is against.” F lamic State of Iraq and Fallujah, in Iraq’s Anbar the Levant (ISIL) have province, is less than 70km

Netanyahu states commitment to Palestinian state I

SRAELI Prime Minister Benjamin Netanyahu said yeterday he was committed to the establishment of a Palestinian state, calling on the Palestinian leadership to return to negotiations unconditionally. “I remain committed to the idea that the only way we can achieve a lasting peace is through the concept of two states for two peoples — a demilitarised Palestinian state that recognises the Jewish nation state of Israel,” he said. Netanyahu spoke after talks with visiting German Foreign Minister FrankWalter Steinmeier. He said they had discussed “our common quest to move forward on peace with the Palestinians”. “I think the only way to move that is through direct negotiations. Unfortunately, the Palestinian Authority has moved away from these negotiations,” Netanyahu said. Netanyahu sparked international concern when he ruled out the establishment of a Palestinian state while campaigning for the March 17 general election but later backtracked on the comments. Prospects for a renewal of the peace talks, which fell apart in April 2014, look bleak with the lack of trust between the sides exacerbated by the formation of Netanyahu’s new hardline coalition.

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west of Baghdad. Our correspondent said there were also reports that another 33 Iraqi soldiers had been killed in an ambush near Ramadi, also in Anbar, but authorities have yet to confirm the toll. At least 13 soldiers have been confirmed dead near Ramadi. Our correspondent said the battle to reclaim Ramadi in Anbar province, which had been taken by ISIL, was “in full flow”. While a government spokesman said that the Iraqi forces were gearing up to retake the province, he said they needed more help from their allies.

World powers agree to restore U.N sanctions on Iran, if deal fails

IX world powers have agreed on a way to restore U.N. sanctions on Iran if the country breaks the terms of a future nuclear deal, clearing a major obstacle to an accord ahead

•Benjamin Netanyahu

Tributes pour in for Joe Biden’s son T

RIBUTES from both sides of the political aisle are pouring in after the death of Beau Biden, son of Vice President Joe Biden, who died Saturday of brain cancer at age 46. Beau Biden — former Delaware attorney general, Iraq War veteran, husband and father of two — was admitted to Walter Reed National Military Medical Center earlier this month for then-undisclosed reasons.

“He battled brain cancer with the same integrity, courage and strength he demonstrated every day of his life,” the vice president said in announcing Beau’s death. “The entire Biden family is saddened beyond words. We know that Beau’s spirit will live on in all of us — especially through his brave wife, Hallie, and two remarkable children.” He added: “Beau Biden was, quite simply, the finest man any of us

Kerry breaks leg in bicycle crash; ends overseas trip U .S. Secretary of State John Kerry broke his leg in a bicycle crash yesterday after striking a curb, and scrapped the rest of a four-nation trip that included an international conference on combating the Islamic State group. Kerry was in stable condition and in good spirits as he prepared to return to Boston for further treatment with the doctor who previously operated on his hip, U.S. State Department spokesman John Kirby said. He said X-rays at a Swiss hospital confirmed that Kerry fractured his right femur. “The secretary is stable and never lost consciousness, his injury is not lifethreatening and he is expected to make a full recovery,” Kirby said in a statement. Kerry, 71, was taken by helicopter to Geneva’s main medical center, HUG, after hitting a curb with his bike

launched a string of attacks on an Iraqi army headquarters near Fallujah, killing at least 20 soldiers. Reports from Baghdad, said ISIL suicide bombers detonated eight fortified car bombs near the army’s headquarters on Sunday. Our correspondent said the group had mounted an attack on missile batteries first and then moved towards the bases. He said ISIL had been “learning to exploit” the Iraqi military’s weaknesses. “They’re using these car bombs to devastating effect. These car bombs are very difficult for the Iraqi security forces to defend

near Scionzier, France, about 40 kilometers southeast of the Swiss border. Paramedics and a physician were on the scene with his motorcade at the time and provided him immediate attention. They quickly decided to order the 10minute-long helicopter

transport. The Dauphine Libere, a local newspaper, said Kerry fell near the beginning of his ride to the famed mountain pass called the Col de la Colombiere, which has been a route for the Tour de France more than a dozen times.

U.S. Secretary of State John Kerry, riding a bike

•Beau Biden have ever known.” “For all that Beau Biden achieved in his life, nothing made him prouder, nothing made him happier, nothing claimed a fuller focus of his love and devotion than his family,” President Barack Obama said in a separate statement. “Just like his dad.” The president quoted a passage by the poet William Butler Yeats. “I have believed the best of every man,” Yeats wrote. “And find that to believe it is enough to make a bad man show him at his best or even a good man swing his lantern higher.” “Beau Biden believed the best of us all,” Obama said. “For him, and for his family, we swing our lanterns higher.” On Twitter, current and former political leaders — including Hillary Clinton, John Boehner and the family of former Vice President Dick Cheney — offered their

condolences. President Barack Obama said he and his wife, Michelle, were grieving alongside the Biden family. “Michelle and I humbly pray for the good Lord to watch over Beau Biden, and to protect and comfort his family here on Earth,” Obama said in a separate statement. The vice president said his son had dedicated his life to serving others during stints as a lawyer, a major in the Delaware National Guard and as state attorney general. Beau Biden served a yearlong deployment in Iraq and was awarded a Bronze Star. He most recently was with the Wilmington, Delaware, law firm Grant & Eisenhofer, where he focused on securities litigation and whistleblower cases. “More than his professional accomplishments, Beau measured himself as a husband, father, son and brother,” said Joe Biden.

of a June 30 deadline, Western officials told Reuters. The new understanding on a U.N. sanctions “snapback” among the six powers - the United States, Britain, France, Germany, Russia and China - brings them closer to a possible deal with Iran, though other hurdles remain, including ensuring United Nations access to Iranian military sites. The six powers and Iran struck an interim agreement on April 2 ahead of a possible final deal that would aim to block an Iranian path to a nuclear bomb in exchange for lifting sanctions. But the timing of sanctions relief, access and verification of compliance and a mechanism for restoring sanctions if Iran broke its commitments were among the most difficult topics left for further negotiations. U.S. and European negotiators want any easing of U.N. sanctions to be automatically reversible if Tehran violates a deal. Russia and China traditionally reject such automatic measures as undermining their veto power as permanent members of the U.N. Security Council. As part of the new agreement on sanctions snapback, suspected breaches by Iran would be taken up by a dispute-resolution panel, likely including the six powers and Iran, which would assess the allegations and come up with a non-binding opinion, the officials said. The International Atomic Energy Agency (IAEA) would also continue regularly reporting on Iran’s nuclear program, which would provide the six powers and the Security Council with information on Tehran’s activities to enable them to assess compliance. If Iran was found to be in non-compliance with the terms of the deal, then U.N. sanctions would be restored.

VANGUARD, MONDAY, JUNE 1 , 2015 — 57

International effort rescues 5,000 migrants from Mediterranean T

HE corpses of 17 migrants were brought ashore in Sicily aboard an Italian naval vessel yesterday along with 454 survivors as efforts intensified to rescue people fleeing war and poverty in Africa and the Middle East. More than 5,000 migrants trying to reach Europe have been saved from boats in distress in the Mediterranean since Friday and operations are in progress to rescue 500 more, European Union authorities said on Sunday. In some of the most intense Mediterranean traffic of the year, migrants who left Libya in 25 boats were picked up by ships from Italy, Britain, Malta and Belgium, assisted by planes from Iceland and Finland, the EU’s border control agency Frontex said. Naval and merchant vessels involved in rescue operations also came from countries including Germany, Ireland and Denmark. The 17 corpses found on one of the boats arrived in the Sicilian port of Augusta aboard the Italian navy corvette Fenice. Italian prosecutors are investigating how they died. Frontex is coordinating an EU rescue mission in the Mediterranean known as Triton, which

•Thousands of rescued migrants taking to Italy yesterday. was stepped up after around 800 migrants drowned off Libya in April in the Mediterranean’s most deadly shipwreck in

living memory. “This is the biggest wave of migrants we have seen in 2015,” Frontex Executive Director Fabrice Leggeri

said in a written statement. “The new vessels that joined operation Triton this week have already saved hundreds of people.”

Ombudswoman blasts Zuma exoneration in spending scandal

HE South African public official who led a probe into allegations that President Jacob Zuma spent millions of public money upgrading his home on Sunday blasted a report clearing the embattled leader of any wrongdoing. Meanwhile, Zuma was last week exonerated by the police minister over the long-running scandal and will not have to repay any of the $24 million spent on improvements at his rural

SLAMIC State mili tants in Libya say they have seized the airport in the city of Sirte, as the group continues to make advances in the country. The news was announced by the group and by a Libyan militia that withdrew from the coastal city’s airport on Thursday. Most of Sirte, former leader Muammar Gaddafi’s hometown, fell to IS last week. In a statement, the group said it had also seized the Great Man Made River water project. The irrigation project, the world’s largest, supplies fresh water to Libyan cities and was also the base for the opposition Battalion 166, which has now fled. The battalion, and other Islamist militias, run the capital, Tripoli, although their government is not recognised by the international community. The al-Ghardabiya airport also housed an airbase, that was seized by militias after being bombed by Nato forces during the battle to oust

Gaddafi in 2011. Since the former leader’s death in Sirte in October that year, Libya has descended into chaos, with various militias fighting for power. The internationally-recognised government has been forced to leave Tripoli. In the last seven months, IS has set up checkpoints and established a presence in cities across Libya, starting with the port of Derna the first city outside Iraq and Syria to fall to the militant group. In January, an IS-affiliated group bombed the Corinthia Hotel in Tripoli, killing 10 people. In February and April, videos were released showing IS militants in Libya killing two groups of mainly Egyptian and Ethiopian Christians. Air strikes against IS positions have been conducted by the Egyptian air force and by Libya’s internationally-recognised government.

Tutu blasts govt for ‘humiliating’ South Africa

•South Africa's President Jacob Zuma homestead, which inPublic Protector Thuli cluded a swimming pool, Madonsela, the counan amphitheatre and a try’s ombudswoman, had cattle enclosure. originally ruled in March last year that Zuma and his family had “benefitEgypt deploys scholars to teach moderate Islam ed unduly ” from the N his battle against told the audience of Islam- scholars went “white as work on his home in militant Islam, Egyp- ic scholars, had become “a sheets,” some of those in Nkandla in the eastern tian President Abdel Fat- source of anxiety, danger, the audience told a West- KwaZulu-Natal province She told South Africa’s tah al-Sisi is relying not killing and destruction for ern official. City Press in an article just on bomber planes and the rest of the world.” The president’s warning That had to change – and is part of a much larger published on Sunday soldiers but on white-turbaned clerics from Al- the scholars had a leading project. To contain the rad- that Zuma should still be Azhar, Egypt’s 1,000-year- role to play, in schools, ical Islamist movement made to pay and lashed old center for Islamic learn- mosques and on the air- roiling his nation, Sisi has out at “shortcomings” in waves. ing. most conspicuously been the police minister’s re“You, imams, are respon- using the law and brute port. Meanwhile, he wanted She conceded the clerics to counter radical- sible before Allah. The enforce. But he is also protire world is waiting. The moting a more moderate wording she had used in ism in the classroom. In a televised speech in entire world is waiting for and less politicized version her own report was too soft. January at an Al-Azhar your next word because of the faith. conference center in Cai- this nation is being torn ro, Sisi called for “a reli- apart.” Surprised by the presigious revolution” in Islam. Radicalized thinking, he dent’s bluntness, the AST African leaders A coup attempt against have urged Burun- Mr Nkurunziza failed di’s president to post- earlier in May and some pone elections due in 90,000 Burundians have June. They have also fled the unrest. called for an end to the “The summit, conviolence sparked by Pres- cerned at the impasse in ident Pierre Nkurunzi- Burundi, strongly calls za’s decision to stand for for a long postponement a third term. of the elections not less Their statement was than a month and a half,” made after a summit of said the statement on the East African Commu- Sunday. The leaders also called An Egyptian female student take an exam in one of nity in the Tanzanian city of Dar es Salaam. for the “disarmament of the Al-Azhar institutes in Cairo.

RCHBISHOP Des mond Tutu at the weekend blasted the South African government for humiliating the country by allowing the president to get away with spending $24 million of taxpayers’ money on home improvement work. “When the South African government denied His Holiness the Dalai Lama a visa to attend the Nobel Laureates Summit in Cape Town last year, I called them a lickspittle bunch,” said Tutu in a statement. “Our police minister’s performance in clearing the President of any responsibility for the Nkandla spending, gave new meaning to the word.” South Africa’s ombudswoman last year found that President Jacob Zuma had “unduly ben-

Burundi: E/African leaders support polls shift

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IS capture ‘Sirte airport’ in Libya

all armed youth groups” and for the “creation of conditions for the return of refugees”. There have been weeks of protests since Burundi’s 51-year-old president announced that he would run for re-election. Opponents have said this contravenes the constitution, which states a president can only be elected to two terms.

efited” from the work on his private residence at Nkandla — which also included a cattle enclosure, amphitheatre and visitors’ centre — and recommended that he repay some of the money. But Police Minister Nkosinathi Nhleko said on Thursday that an investigation found that the president is not liable to repay any of the public funds spent as the improvements were in fact security features. The swimming pool was actually a “firepool” needed to fight any blaze at the mainly-thatched compound, while the cattle enclosure and chicken run were necessary to prevent the animals tripping motion detectors as they roamed about, the minister concluded. But Tutu dismissed the minister’s conclusions. “Instead of setting a good example, our public representatives are humiliating themselves, our country and our people by trying to defend the indefensible,” said Tutu. He added that the minister’s decision to dismiss the ombudsman’s report “bodes particularly ill for the future of good governance”. “It is unconscionable to spend hundred of millions of rands on the president’s spurious ‘security’ needs,” said Tutu.

58—Vanguard, MONDAY, JUNE 1, 2015

Amnesty: Dec termination date draws ire of N-Delta youths, ex-militants By Samuel Oyadongha & Gabriel Ewepu

HE December deadline set by President Muhammadu Buhari for the termination of the presidential amnesty programme for exmilitants in the Niger Delta has drawn the ire of Niger Delta youths and former militants, with the Ijaw Youth Council, IYC, and ex-militants under the aegis of Third Phase Amnesty, faulting the deadline. IYC expressed disappointment that the President failed to address key issues dear to the Niger Delta such as clean up of the environment, implementation of the United Nations Environmental Programme, UNEP report on Ogoni and tackling the menace of oil theft which has greatly contributed to environmental degradation in the Niger Delta region which he promised to tackle during his presidential campaigns. The Ijaw youth body, in a statement by its spokesman, Eric Omare, said: “We appreciate the fact that the amnesty programme cannot continue forever and therefore, must have a terminal date. However, the questions on the lips of beneficiaries and stakeholders in the Niger Delta are: What would happen to those that have not been trained as at December, 2015 and those still undergoing training or have not completed their training? “Terminating the programme will throw up challenges for beneficiaries of the programme who are still undergoing training and are at different levels of their

training. We expect the Federal Government to address the fear of these classes of ex-agitators who are in different parts of the world and are worried that their trainings may be affected if the programme is terminated in December, 2015. “The case of a substantial number of ex-agitators who have not been trained is even more worrisome. We call on the Buhari government to address these challenges before the programme is terminated.” On their part, the Third Phase

Amnesty ex-militants in a statement by their National Secretary, Tam Odogwu, described the statement as shocking, noting that the programme has contributed immensely to the relative peace and stability in the Niger Delta region, which has boosted the production and exportation of crude oil. He said the that Niger Delta ex-agitators congratulate President Buhari for his smooth and peaceful swearing-in ceremony in Abuja.

“Indeed, it was victory for Nigerians and Nigeria in the comity of nations. “Nevertheless, we are shocked by the statement made by Buhari as regards the Niger Delta. We want to unequivocally state here that we reject the deadline of terminating amnesty programme by December 2015. “We are very ready to support Buhari’s administration but we will not support the plan to end the amnesty programme and will resist any attempt to do so because it will mean another round of injustice.”

THANKSGIVING: From left: Wife of ex-governor of Akwa Ibom State, Mrs. Unoma Akpabio; former Governor Godswill Obot Akpabio; Governor Udom Emmanuel of Akwa Ibom State and wife, Martha, at the inter-denominational thanksgiving service at the Ibom Hall Grounds, Uyo.

Omo-Agege goes to tribunal, vows to reclaim mandate By Festus Ahon

SABA—DIRECTOR Media and Strategy, Ovie Omo-Agege Campaign Organisation, Mr. Godwin Anaughe, has reiterated the determination of the candidate of Labour Party in Delta Central senatorial district, to reclaim the mandate allegedly given to him in the just concluded general elections at the election petition tribunal. Anaughe, in a statement yesterday, said: “On May 21, 2015, the national and state Houses of Assembly Tribunal sitting in Asaba granted an order for substituted service of the petition by the Labour Party and its Delta Central senatorial candidate, Obarisi Omo-Agege, on Chief Ighoyota Amori. “Subsequently, the bailiff of the court executed the order by pasting it on the gate of his residence in Mosogar. The Peoples Democratic Party, PDP, and the Independent National C M Y K

Electoral Commission, INEC, were served earlier, immediately after the petition was filed. With this development, we are now set to recover the stolen mandate of the people of Delta Central and make their votes count.

“We will avail ourselves of the full opportunity provided by the election tribunal which is the first stage of the electoral adjudicatory mechanism in our electoral system to ensure that the mandate that was freely given

to Omo-Agege to represent his people at the Senate of the Federal Republic of Nigeria is restored to the honour and pride of Delta Central people. The people deserve leaders who are their true representatives."

Don't vilify Urhobo for supporting Jonathan —UPU Congress, APC, governorship By Perez Brisibe

GHELLI—THE Youth Wing of the Chief Joe Omene-led Urhobo Progress Union, UPU, has warned against vilifying the Urhobo nation for its support for exPresident Goodluck Jonathan during the 2015 general elections. The group, while passing a vote of confidence in the leadership of Chief Omene and his executive, commended the stand of the union in its defence of the Uvwiamughe

declaration. In a statement by its president, Mr. Ovie Igho, the youths explained that it was uncharitable for anyone to vilify the UPU for supporting the reelection of ex-President Jonathan as it was the majority opinion of the Urhobo at the time, adding that by crafting the Uvwiamughe declaration, Urhobo took a clear position and pursued it to the end without capitulation. Acknowledging the resilience of Olorogun O’tega Emerhor, the All Progressives

candidate, the youths applauded him for taking a difficult political stance, stressing that it was time to break down all the walls that divide the Urhobo nation to ensure a win win for all. Calling for the lifting of ban and sanction on any Urhobo by the UPU, the youths advised all Urhobos to brace up to the new political realities of the new administration, noting that it was time for all Urhobo to come together irrespective of political affiliation for a rebuilding process.

Ongoing APC probe not to witch-hunt any member —Ojezua By Simon Ebegbulem

ENIN—EDO State chairman of All Progressives Congress, APC, Mr Anslem Ojezua, has explained that the ongoing probe into the activities of some party leaders who were alleged to have worked against the party in the March 28 presidential and National Assembly elections, was not a witch-hunt but an action geared towards weeding out saboteurs from the party. There has been anxiety among members of the party since Governor Adams Oshiomhole directed that all those who worked against the party be fished out and dealt with to serve as deterrent to others. Ojezua explained: “What we planned was some level of audit which is normal in every election because of the short-comings we experienced in the first elections (National Assembly election). It was obvious to us that there were problems within the party and it is important that we identify those factors that led to the unfortunate result we experienced, one of which is party members working against their own interest."

Ijaw leader hails Okowa

prominent Ijaw leader, Chief Beck Hitler, has congratulated Governor Ifeanyi Okowa of Delta State on his swearing in and called on Deltans to support the new administration. Hitler, in a congratulatory message, yesterday, in Warri, also appreciated the people of the state for making it possible for Mr Kingsley Otuaro, an Ijaw son, to assume the office of deputy governor. He noted that Okowa will need the support and cooperation of all Deltans to deliver on his promises and agenda for the state. He said: “We must put aside personal interests irrespective of tribes and political affiliations and collectively support the new administration led by Okowa to fast-tract both human and infrastructural development in the state."

Vanguard, MONDAY, JUNE 1, 2015 — 59 YOUR LUCK TODAY By Joshua Adeyemo

LEISURE

Phone : 08056180139

CANCER: Whatever anybody says or does, you will have both your say and way. Venus and Jupiter may tempt some of you to embrace illicit (or secret) romance within your base of operation. LEO: Venus and Jupiter at positive angles may tempt you to join some of your friends who are already onboard of merry making train. Watch your health. VIRGO: Good luck will smile at many and induce love of luxury merry making and romantic association. Genuine lovers will need to be on guard against deceit from new admirers. LIBRA: Both financial success and emotional satisfaction are closed to you than before. Those of you travelling because of matersof-the-heart are in for an exciting romantic day Those ambitious career-wise will succeed after few struggles. SCORPIO: Many members of your opposite sex will go out of their ways to attract your romantic interest. This is the wrong time to engage on unnecessary argument.

THOUGHT FOR TODAY By Richard Eromosele

IGHT ordinarily, is supposed to be a period of rest. However, for those whose duties entail their working at night, we can excuse them. But the tragedy of these days is that so many of

our faces, some carry problems in their head and some with Do you think those dignity and promise that sleep have no of God go about, problem? Everyone of believing it is well us have one problem with them. How do or the other. What you carry your makes the difference problem? is our attitude, some of Make your night us wear problems on memorable.

How was your night us have made it a duty to become watchnight, not sleeping and not working. My dear, what is your problem? Do you think your problem is the worst?

TERROR MUDA

in “Never say goodbye”

By Lanre Kehinde

SAGITTARIUS: If you priority is love, much of it would come your way as desired. But here is a better day for more ambitious in the business world. Don’t allow anybody to deceive you over money. CAPRICORN: Those of you with secret admirers within your working area will have the needed opportunities to make the needed moves. Resist the temptation to deceive others. AQUARIUS: Although matters-of-the-heart may give you cause to smile broadly, if care is not taken, you would cause friction that can’t help you r case at work. This is the wrong time for unnecessary scheming within your working arena. PISCES: Those of your who are red-blooded for romance may have an exciting and satisfying day. Happenings within your social circles must be taken more seriously. ARIES: Confrontation may come your way in the circle but the heavens are working favourably for you. Some doses of romance is not too much for you on a day like this. TAURUS: Provided you don’t allow your innate ability to be as diplomatic as necessary desert you, things work favourably for you to the betterment of your finances.

KAPTAIN AFRIKA

“Pretty Lunatic’

By Andy Akman

GEMINI: Many of you will be in sentimental mood and exhibit strong romantic desire openly. But then, if care is not taken, you may be carried away to the detriment of your finances. Serious minded lovers are in for happy day.

ASTROLOGICAL COUNSELLING Send your date and place of birth to the Astrological Counselling, P .M.B 1 00 7, Apapa, Lagos P.M.B 100 007,

What’s my Horoscope? Dear Joshua, I was born on August 13, 1964. I want you to give me my comprehensive horoscope, especially what my special gift is. Which day of the week was I born? Where were my natal planets and their meanings? Who am I? Morayo, Abuja. Dear Morayo, There is no space for comprehensive horoscope but what you’ll have here -under is answer to your questions/ You were born on a Thursday and your special gift is LEADERSHIP quality. YOUR HOROSCOPE DATA Date of Birth: Thursday, August 13, 1964 Sun Sign: Virgo: Sun in 20th Degree of Virgo Moon Sign: PISCES: Moon on 10th Degree of Pisces Mercury in 16th Degree of Libra Venues in 5th Degree of Scorpio Mars in 13th Degree of Cancer Jupiter in 6th Degree of Pisces Saturn in 5th Degree of Aquarius Uranus in 2nd Degree of Virgo Neptune in 11th Degree of Scorpio Pluto in 10th Degree of Virgo North Node in 6th Degree of Leo South Node in 6th Degree of Aquarius Quality and Element Cardinal and air star signs hosted two planets each fixed and earth three each, no planet in fire while mutable and water star signs hosted five planets each. Push-full influence = 20% Non- push-full element = 80% Final dispositor = Lucky Jupiter General Analysis Just 20 per cent of push-full influence in your chart can deceptively present you to others as a soft (or even timid) person but practical Virgo that hosted nothing less than three heavenly bodies when you were born and Astrological aspects between Mercury (mental focus) and aggressive Mars in you r chart are pointers to the contrary. Yes! You are highly intelligent and your mind works the same way detective’s minds do. It is true, there are little contradictions between your inner self and your emotional being as indicated quality, water element and Virgo characteristics. One moment, you can be very emotional, exhibiting temper with stinging tongue but a few hour later you are amiable, easy going, friendly and compassionate. You are the adaptable type who will see changes as sources of good opportunities. LEADERSHIP quality is one of your greatest gifts from God. placement of your natal sun (basic-selfhood) and moon (your emotional being) in Virgo and Pisces respectively mean that characteristics of both Virgo and Pisces are highly pronounced in your inner-self.

VIRGINIA

HOME & ABROAD

dadadekola@yahoo.com

By Lawrence Akapa

60 —Vanguard, MONDAY, JUNE 1, 2015

Vanguard CLASSIFIED TSEKIRI—I, formerly known and addressed as Miss Priscilia Mejiri Tsekiri, now wish to be known and addressed as Mrs. Priscilia Mejiri Ovakporaye. All former documents remain valid. General public please take note.

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OTUONYE—I, formerly known and addressed as Miss O t u o n y e Chinonyerem Chizoba, now wish to be known and addressed as Mrs. E g h w r u d j e Chinonyerem Chizoba . All former documents remain valid. General public please take note.

OBOT—I, formerly known and addressed as Miss Regina Asuquo Obot, now wish to be known and addressed as Mrs. Regina Oleweh . All former documents remain valid. General public please take note.

ANOMUOGHANRAN— I, formerly known and addressed as Miss Anomuoghanran Weyinmi Stephine, now wish to be known and addressed as Mrs. Ikomi Weyinmi Stephine . All former documents remain valid. General public please take note.

OKPALA—I,formerly known and addressed as Miss Okpala Chinasa Miracle, now wish to be known and addressed as Mrs. Obiorah Chinasa Miracle. All former documents remain valid. General public please take note.

OKPEPHIOHWU—I, formerly known and addressed as Miss Okpephiohwu Meyigbemi Mercy, now wish to be known and addressed as Mrs. Kosunye Meyigbemi Mercy. All former documents remain valid. General public please take note.

ASHETOLA—I, formerly known and addressed as Miss Ashetola Omokoshe Florence, now wish to be known and addressed as Mrs. Mathew Omokoshe Abiye Florence. All former documents remain valid. University of Abuja and general public please take note.

OJO—I, formerly known and addressed as Miss Ojo Oluyinka Martha, now wish to be known and addressed as Mrs. Bolaji Oluyinka Martha. All former documents remain valid. General public please take note.

ANYANWU—I, formerly known and addressed as Miss Anyanwu Mariastella Chimeziri, now wish to be known and addressed as Mrs. Onuoha Mariastella Chimeziri. All former documents remain valid. General public please take note.

IBEKIE—I, formerly known and addressed as Miss Ibekie Chinenye Loretta, now wish to be known and addressed as Mrs. Chukwunwendu Chinenye Loretta. All former documents remain valid. General public please take note.

NMUMU—I, formerly known and addressed as Miss Victoria Chiedu Nmumu, now wish to be known and addressed as Mrs. Chiedu Victoria Osayi. All former documents remain valid. General public please take note.

N WA N A N A — I , formerly known and addressed as Miss Augusta .N. Nwanana, now wish to be known and addressed as Mrs. Augusta .N. Ihediuba. All former documents remain valid. UBA Plc and general public please take note.

E K W E R E — I , formerly known and addressed as Miss Mary Anietie Ekwere, now wish to be known and addressed as Mrs. Mary Aniekan Ikon. All former documents remain valid. General public please take note.

ASIGO—I, formerly known and addressed as Akpokabowei Asigo, now wish to be known and addressed as Ebiakpokabowei Asigo. All former documents remain valid. General public please take note.

MERE—I, formerly

public please take note.

OPUTA—I, formerly known and addressed as Miss Chioma Christiana Oputa, now wish to be known and addressed as Mrs. Chioma Christiana Okolo. All former documents remain valid. General public please take note.

BAJI—I, formerly known and addressed as Miss Cynthia Chioma Baji, now wish to be known and addressed as Mrs. Cynthia Chioma Maduemezia. All former documents remain valid. General public please take note.

SALAWE—I, formerly known and addressed as Medinatu Omuwa Salawe, now wish to be known and addressed as Medinatu Salawe Yusuff. All former documents remain valid. General public please take note.

EHIRIM—I, formerly known and addressed Miss Ehirim Maureen Chimaechi, now wish to be known and addressed as Mrs. Njoku Maureen Chimaechi. All former documents remain valid. FCT-Seconary Education Board Abuja, Government Secondary School Apo-Abuja and general public please take note.

OHWOJERO—I, formerly known and addressed as Miss Faith Mamus Ohwojero, now wish to be known and addressed as Mrs. Faith Mamus Walter Owhe. All former documents remain valid. General public please take note.

OGBOGA—I, formerly known and addressed as Miss Ogboga Blessing Ahoji, now wish to be known and addressed as Mrs. Sunday Blessing Ahoji. All former documents remain valid. General public please take note.

OHWOFASA—I, formerly known and addressed as Miss Oghenovo Janet Ohwofasa, now wish to be known and addressed as Mrs. Tejovwo Janet Oghenovo. All former documents remain valid. General public please take note.

ODUA—I, formerly known and addressed as Miss Odua Franca Eluriehu, now wish to be known and addressed as Mrs. Iwuoha Franca Eluriehu. All former documents remain valid. General public please take note.

EZEORAH—I, formerly known and addressed as Miss Ezeorah Chibuzor Perpetua, now wish to be known and addressed as Mrs. Nwanozie Obidiro Chibuzor Perpetua. All former documents remain valid. Pharmaceutical Council of Nigeria, PSC and general public please take note.

INEYOUGHA—I, formerly known and addressed as Miss Ineyougha Ebinyo Rebecca, now wish to be known and addressed as Mrs. Aseibai Ebinyo Rebecca. All former documents remain valid. Niger Delta University, Bayelsa State College of Health Technology, Otuogidi and general public please take note.

MBAH—I, formerly known and addressed as Miss Mbah Thessy Ebere, now wish to be known and addressed as Mrs. Ubaga Thessy Ebere. All former documents remain valid. General public please take note.

ENUBUZOR—I, formerly known and addressed as Enubuzor Amebome Margaret, now wish to be known and addressed as Jokoh Amebome Margaret. All former documents remain valid. General public please take note.

EZEIGBO—I, formerly known and addressed as Miss Esther Amaka Ezeigbo, now wish to be known and addressed as Mrs. Esther Amaka Okonkwo. All former documents remain valid. General public please take note.

OKEKE—I, formerly known and addressed as Miss Okeke Chiamaka Angelica, now wish to be known and addressed as Mrs. Aliekwue Chiamaka Angelica. All former documents remain valid. General public please take note.

AGHIMIEN—I, formerly known and addressed as Mrs. Aghimien Roseline, now wish to be known and addressed as Mrs. Lugard Roseline. All former documents remain valid. General public please take note.

known and addressed as Stephen Ufogho Mere, now wish to be known and addressed as Stephen Emere. All former

documents

remain valid. General

YOU CAN BOOK YOUR ADVERT AT: MURPHY'S PLAZA 2 7 , S A N U S I F A F U N WA S T R E E T, VICTORIA ISLAND. CALL, 08038092373, 08033163424

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Vanguard, MONDAY, JUNE 1, 2015 — 61

2016 Olympic football qualifiers: Cameroon out!

Kanu: Flying Eagles ‘ll do us proud

ORMER Super Eagles captain Nwankwo Kanu says the Flying Eagles will do the country proud in the ongoing FIFA U-20 World Cup in New Zealand and has urged Nigerians not to panic. Kanu said having followed the team right from their U17 days, he was sure they will make Nigerians smile. “This is a very good team and I have followed them right from the U17’s when they became the world champions and who says they can’t be champions at the U20 level? “I know the coach and I know they’re there to do us proud. I’m relaxed when I see them play and that feeling hasn’t

AMEROON became the first major casualty of the 2016 Olympic Games football qualifiers in Africa after being eliminated by Sierra Leone this weekend. The outsiders scored a stoppage-time goal in Yaounde to snatch a 1-1 draw and win the second-round tie on away goals after a goalless first leg last weekend. Sierra Leone captain Sorie Barrie scored in the 93rd minute, after Joseph Minala (pictured) had put Cameroon ahead. Minala, the 18-yearold Italy-based footballer caught up in an age storm last year amid claims he was over 40,

continued from B/P Iheanacho has been the most popular Nigerian star for media interviews in New Zealand and he revealed his biggest dream to FIFA TV. He declared: “I hope to continue to make progress in my career and one day be the best player in the world. I hope God will help me to achieve this. That’s my dream.” Iheanacho scored six goals as Nigeria won a record fourth U17 World Cup title in superb style two years ago and he said he wishes to surpass this with the U20s. “I am 100% ready to make an impact at this World Cup, even more than at the U17 World

continued from B/P in 2008. A subsequent letter requested that money to be sent, instead, to the Caribbean Football Union, reports say. South African officials deny it was a bribe to secure the 2010 World Cup. But US prosecutors insist South Africa made an illegal payment after the government promised $10m to Mr Warner - then a Fifa vicepresident - in exchange for the “Rainbow Nation” becoming the first African country to host the World Cup. Fifa chose South Africa C M Y K

•Mali U-20 players savour their victory over Mexico yesterday. had put the ‘Indomitable Cubs’ in front in the opening half at Stade

Iheanacho Cup,” he vowed. “We want to win something for Nigeria as a team, and I hope I can do good things for the team.” He added: “Most of the players were not available when we won the U17 World Cup two years ago, but they are now with us and we are a lot stronger than in 2013. We will go far in this tournament. “There is a lot to say about this team because we have a lot of potentials. We are individually talented. “We have to show our strength as a team, we have to show confidence, individual talent, what the coaches have taught us and

FIFA crisis as host ahead of Morocco. Danny Jordaan could not be reached for comment on Sunday, but he is quoted as insisting the money was paid to the Confederation of North, Central American and Caribbean Association Football (Concacaf) in 2008 as South Africa’s contribution towards their football development fund. The BBC’s Andrew Harding in Johannesburg says unnamed officials have

Ahmadou Ahidjo before Sierra Leone’s decisive equaliser.

everything that will give us the edge against all the countries who have qualified for this World Cup. “We have to fight to win this tournament by God’s grace.” He further said the U20 World Cup will be great opportunity to prove his worth at Manchester City, where he is yet to make his first-team debut. “This is a perfect opportunity to show Manchester City what I am capable of especially because I was injured for a couple of months,” he said. “I will work hard to make my club and my country proud at this World Cup.”

confirmed that the payment was made to support football development among members of the African diaspora - something which does make sense in the political context of the time. The latest reports come with Fifa - the governing body of world football in crisis. Senior Fifa officials face a string of bribery charges. Its head, Sepp Blatter has not been implicated but has faced calls to stand down. He was reelected as Fifa president on Friday.

•Kanu changed now that they are campaigning at the World Cup. “Nigerians should sit down and relax because I’m not panicking and neither should they.''

CRS SWAN boss charges Ayade to sustain Imoke’s legacies in sports

HAIRMAN of the Cross River State chapter of the Sports Writers Association of Nigeria, SWAN, Comrade Eddie Bekom has called on the governor of Cross River

•Gov Ayade

State, Professor Ben Ayade to “keep the momentum going” in the state’s sports development drive. A statement by Bekom reads, “We the EXCO and the entire members of Cross River State chapter of Sportswriters Association of Nigerian SWAN, most sincerely congratulate Senator Professor Ben Ayade, our amiable Governor and his deputy, professor Ivara Esu, on their successful inauguration. “We wish to acknowledge the tremendous efforts of

continued from B/P test was virtually won and lost in a crazy second-half in which three players – one Malian, two Mexican – were sent off before two goals in three minutes decided the outcome. Mali took full advantage of their numerical advantage, moving into the lead with 14 minutes remaining when Adama Traore headed home

Mali from Youssouf Kone’s inviting free-kick. The points were sealed three minutes later when Dieudonne Gbakle scored a cracker, working a one-two with Alassane Diallo, swerving past a couple of despairing challenges and shooting low just inside the far post. Though the other Group D game saw Uru-

Walcott continued from B/P cautious about negotiations, insisting that it would ‘take time’ to reach a deal. ‘I’m sure things will get resolved,’ he told Sky Sports News. ‘I just want to enjoy today, and enjoy my football. It will take time.’ However, Walcott did

express a belief that this Arsenal squad can go on to win more silverware after their second consecutive FA Cup success. ‘I have the belief in this team, the manager does. This has got to be a stepping stone to challenge for the title. That’s the ultimate goal. We’ve got to do it for the fans.’

former Governor Liyel Imoke in sports development in the state, which culminated in the enunciation of the now famous Comprehensive Sports Development Policy. The school driven initiative has proved a huge success, leading to the state winning the National School Sports Festival four times back to back. “We wish to appeal that the policy be sustained, to place Cross River State on the front burner of sports development in Nigeria.''

guay defeat Serbia 1-0 , Mali are ahead with a better goals difference. Mali Coach, Fanyeri Diarra, was expectedly thrilled with the outcome as he admitted that the result has taken a big chunk of pressure off his team. “In a tournament like this one, the first match is vital. Leaving here with three points means the lads will be under much less pressure going into our second game, on Wednesday against Serbia,” He said. It was however a sour maiden outing for Senegal as they were overpowered by Portugal who pummelled them 30. Portugal danger man, Martins, fired the fourthquickest goal in the tournament’s history, netting in 26 seconds, before a late flurry saw substitute Nuno Santos set up Andre Silva, then add another of his own.

62 — Vanguard, MONDAY, JUNE 1, 2015

HIS article was first published on April 6 2015. It was a call on Nigerians, sports loving Nigerians to go to the polls and vote in “ sports loving governors”. I will take time off later to review the list of Governors in the present dispensation and see how many I can link to sports. I was in Uyo, Akwa Ibom State for all the activities that culminated in the handing over of Government from His Excellency Governor Godswill Akpabio to His Excelleccy Governor Udom Emmanuel……..then came the glorious declaration, that The Akwa Ibom International Stadium has been renamed Godswill Akpabio International Stadium. That was Governor Udom’s first official decision, one that gladdens my heart, sports being my culture medium. Before then, Thursday May 28, in a glorious night of elocution, oratories and tributes to bid farewell to the outgoing governor, I had been picked to speak on sports. I spoke on the scrabble revolution in Nigeria, I spoke on the attempt to keep the boxing world heavyweight title in Nigeria, the construction of a stadium that was one of the best in the world, and that just two days before, Governor Akpabio on hearing about the exploits of a promising youngster ( Aniekeme Alphonsus) fastest youth athlete in Nigeria, decided to sponsor her to a training stint in the United States of America. I spoke about the uncommon transformation of sports in Akwa Ibom State and said “….your excellency, we will miss you but we rest convinced that you have run a good race, gapped the opposition and handed over the relay baton successfully to a successor who will majestically sprint to the finishing line in glory……” last Friday, Governor Udom did just that and made my day. Back to the article I wrote last April “Because Sports is also part of Nigeria, there has arisen a call for “change” in the Nigerian sports circles. Some have fallen short of calling the President Elect to “interfere” in the affairs of sports which they believe and strongly too, needs to be overhauled. I thread carefully. The first block I want to eliminate from my subconscious is the notion that football represents sports in Nigeria. We are very quick to judge sports in Nigeria by the barometer of football. If the Eagles (Nothing Super about them anymore) fail to qualify for the Nations Cup, then Nigeria sports has failed. Far from it. Incidentally, there has been so little coming from

God, give us sports loving governors the domain of other sports that we have allowed even the media to trample us with football idosyncracies. Back to the topic of the day. There is no gainsaying the fact that sports is such a neglected industry here.

What our sports needs from now on is the appointment of persons (Ministers, Commissioners) with sports back ground to lead our affairs The business part of it is submerged in ignorant ,welfare and social leanings , and that explains why government has dabbled into the business of owning football clubs to the detriment of the game here. The current bad runs experienced by our clubs in continental competitions is enough testimony to the fact that government has no business in football business. What about the organizers, those who should endeavour not to allow our league dates clash with European matches. For now we cannot compete. Not yet…………there I go again, football, football and more football. Aside the institution of our sports federations and the so called election of its principals who need democratization process to dislodge, what our sports needs from now on is the appointment of persons (Ministers, Commissioners) with sports back ground to lead our affairs. Every time we are set for elections into the sports federations, there is so much frenzy and activity

Lagos SWAN congratulates Ambode, hails Fashola

HE Sports Writers Association of Nigeria, SWAN, Lagos chapter, has congratulated His Excellency, Governor Akinwunmi Ambode, on his assumption of office as the Executive Governor of Lagos State and, by extension, the Grand Patron of Lagos SWAN. A statement released by its Secretary, Emma Njoku, quoted the chairman of the association, Fred Edoreh, as expressing confidence that Governor Ambode will deliver on his campaign promises to ensure that Lagos remains the Centre of Excellence. “On behalf of the C M Y K

•Gov. Ambode

•Fashola

executive committee and entire members of the Lagos SWAN, I wish to congratulate His Excellency, Governor Akinwunmi Ambode, on his assumption of office as the Executive Governor of Lagos State. I am absolutely confident that he will not only sustain the achievements of the past

leadership but even surpass them and that Lagos State will attain greater heights under his watch. I am very optimistic that he will deliver on his campaign promises to make Lagos State continually comfortable, safe and enjoyable for all Lagosians,” the statement read.

ETERMINED, to ensure that the home-based athletes are in top shape before major international meets, the Athletics Federation of Nigeria (AFN) plans to stage three local Golden League meets. A statement released by AFN Head of Media, Olukayode Thomas said the meets would target raising the profiles of the home-based athletes before the international competitions. It said the three Golden League meets would hold between June and July. The meets will hold at the Rojeny Stadium, Oba, Anambra State on June 11, in Kaduna on June 24 while the final leg holds in Ilorin on July 11. The statement added that the Warri Relays and CAA Super Grand Prix

around the Federations, yet the moment people are appointed and selected ( elected?) they go to sleep allowing their federations to wallow in inactivity and abandonment. Yes we must redress the issue of funding, yet any Federation worth its salt should aim at attracting partners and sponsors to help boost its programmes and activities. I have forgotten the last time we had a sports technocrat run our sports at the centre. All we have been having are men who come in without any sports knowledge whatsoever, not even the passion and we are still busy trying to repair the damage caused by their uninformed decisions. The future of our sports I dare say lie in our states, in the grass roots, especially in schools, from primary schools. Can we stop giving licences to people who establish schools on premises and sites that have no playgrounds? Why is it that only private schools are capable of holding annual inter house sports? And when they do, how do we monitor and scout for potential talents? Recently, the Athletics Federation of Nigeria went to Ethiopia to top at the African Junior Athletics Championship yet the celebration was mooted, submerged by the dour and often repeated argument of whether Stephen Keshi will sign or not sign NFF Contract. That feat by the AFN needed to be celebrated and tracked. The future of our sports is the establishment of Sports Councils all over the federation, the return of Directors of sports and organizing secretaries. In most states, the creation of Ministries and the attendant appointment of political commissioners has rubbished the development of sports. How do we employ and train games masters and mistresses? Sports can only thrive in schools when we have knowledgeable personnel ready to drive its resurgence. This is also the time for us to pray and fervently too for God to give us sports loving Governors, men who will not wait to bid for the hosting of sports events to provide their teeming youths with sports infrastructure. That the National Sports Festival did not hold last year was mainly due to the non readiness of relevant infrastructure. I do not think it will be out of place to build a stadium and a sports hall in every Senatorial Zone of this country. In summary, in an era where the stars are fading and disappearing, we should discover and groom potentials, develop human capacity either as coaches, organizers or arbitrators and strengthen infrastructural back up. That, for me will be change” See you next week.

AFN plans 3 Golden League meets before Warri Relays

•Ogba, AFN boss have been scheduled to hold on July 24. It said the AFN/Cross Rivers All Nigeria Athletics Championships would hold from July 30 to August 1 in Calabar, the Cross River capital. Meanwhile, the statement quotes Solomon Ogba, the President of AFN as

saying, “after the three all comers held in Abuja, Lagos and Port Harcourt, the next level of preparations for the home-based will be the three leg Golden Leagues. “This is designed to put them in top shape for the international relays and the All Nigeria Championships that will serve as trials for the Beijing 2015 IAAF World Championships and the 2015 All Africa Games in Congo”. The statement said that Ogba thanked the National Sports Commission (NSC) for backing the AFN in organising the three more standard meets for the home-based.

Vanguard, MONDAY, JUNE 1, 2015 — 63

Golden Eaglets thrash Ifeanyi Ubah FC 3-0

PSG win French Cup P

ARIS SaintGermain became the first French side to win the domestic treble after labouring to a 1-0 win against seconddivision side Auxerre in the French Cup final on Saturday. Uruguay striker Edinson Cavani settled a tense match when he headed in a cross from the right midway through the second half, although the ball went off the crossbar and hit the back of goalkeeper Donovan Leon before crossing the line. The only failure in an otherwise dominant season for PSG was the Champions League, where the ambitious club fell short once more, after again going out to Barcelona — this season’s finalist — in the quarterfinals. “We won the rest of the trophies. No other team has done this and I am very proud of the team,” PSG’s top scorer Zlatan Ibrahimovic said. “I want some more (trophies), trust me.” On paper, it should have been a mismatch between big-spending PSG — still seeking to join Europe’s elite clubs — and an Auxerre side that finished ninth in the French second division. But Auxerre, a fourtime French Cup winner, started strongly and forced the first two corners of the game.

CELEBRATION... Pasris Saint Germain skipper Zlatan Ibrahimovic yells in celebration of their victory.

Prince William wades into FIFA row P

RINCE William intervened in the FIFA corruption scandal at the weekend with an unprecedented speech

Ordega outshines Oshoala in Falcons victory

RANCISCA Ordega smashed a second-half hat-trick to eclipse BBC World Footballer of the Year Asissat Oshoala in a test match World Cup-bound Super Falcons won 9-0. Canadian club Woodbridge Ladies went behind as early as the fourth minute through Ngozi Okobi, before Oshoala doubled the lead in the 38th minute. Ordega then plundered an eye-catching treble after the interval with Courtney Dike grabbing a brace. Perpetua Nkwocha was also on target for the African champions. Coach Edwin Okon said he was more impressed with his team’s performance than the huge score line. “It was a very good game today. Though we won by a massive margin, I was very impressed with the team’s coordination in all departments,” he said. “This does not mean we won’t still correct a few C M Y K

OLDEN Eaglets, Nigeria’s U-17 side, on Saturday secured a 3-0 win over their counterparts from the Ifeanyi Ubah Football Club at the NFF/FIFA Goal Project Pitch in Abuja. Three second half goals by substitutes Victor Osimhen, Pam Mafeng and Johnson Umah was all the Emmanuel Amunekeled side needed to break the resolve of the resilient Anambra Warriors who stoutly defended their half in the first stanza. But they were unable to curtail the Eaglets’ raid in the second stanza and substitute Osimhen finally broke the deadlock when he converted a penalty. Pam Mafeng added the second goal while Umah Johnson scored the third with a sublime free kick straight into the net from the periphery of the box to the delight of the watching fans. “ I’m quite impressed with the Golden Eaglets and we can see that

lapses here and there but I can see the team preparing well for the tournament proper. “I’m glad we scored many goals because we need a strong firepower upfront to achieve our dream which is to lift the trophy of the 2015 FIFA Women’s World Cup. We will continue to work hard until we achieve this.”

criticising world football’s governing body. He urged FIFA to deal with the allegations of widespread bribery levelled at the organisation by American and Swiss investigators for the sake of football and its fans around the world. In his speech as president of the Football Association (FA) before the FA Cup Final at Wembley, the Duke gave his backing to the FA’s tough stance on FIFA and its opposition to its president, Sepp Blatter, who stands accused of presiding over

•Prince William

•Blatter

“rampant, systemic and deep-rooted corruption”. The Duke said: “There seems to be a huge disconnect between the sense of fair play that guides those playing

and supporting the game, and the allegations of corruption that have long lingered around the management of the sport internationally.”

Xavi: Messi goal scandalous

READY... Super Falcon players, Desire Oparanozie, Asisat Oshoala and Francisca Ordega ready for the world.

ARCELONA’S Copa Del Rey final win may have been Xavi’s last match at the Nou Camp, but after the game it was Lionel Messi’s wonder goal which was at the forefront of the captain’s mind. Barcelona were 3-1 winners over Athletic Bilbao as they completed a domestic double following their league triumph and once again it was Messi who stole the show. Messi, starting just inside the Athletic half near the right touchline, weaved his way past four defenders and then beat Iago Herrerin at

his near post for a stunning strike in the Nou Camp clash after 20 minutes. Neymar rounded off a neat team move to double Barcelona’s advantage nine minutes before the break and Messi put the game further out of Athletic’s reach by stabbing home a third goal after 74 minutes. “We have absolute confidence right now,” Xavi told the club’s official website before waxing lyrical about Messi’s strike. “(It was) scandalous, awesome. I think it’s one of the best goals he’s ever scored.”

•Ubah coach Emmanuel Amuneke is doing a wonderful job with these boys,” said Chief Ifeanyi Ubah, the CEO of Capital Oil and owner of the Nnewi-based club who watched the match with his friends.” My advice to these players is to go out there and play their hearts out for Nigeria and we (Ifeanyi Ubah Football Club) are wishing the team all the best in their upcoming international competitions.”

Keshi, Eagles console Emenike over father’s death

UPER Eagles’ Head Coach, Stephen Keshi, his assistants, back-room staff and players have consoled striker Emmanuel Emenike over the death of his father, Pa Felix Emenike Ndukwu. Keshi said on Sunday that the entire team feels Emmanuel Emenike’s loss at this moment in time and would want him to be strong for his family. “I can imagine what Emma is going through at the moment, the pain and the sense of loss that comes with losing someone as close and dear as one’s father,” Keshi said. “On behalf of every member of the Super Eagles, including the coaches, back -room staff and the players currently in camp here in Abuja, I want to console him and ask him to be strong for those Pa Emenike Ndukwu has left behind. We ask God to also strengthen him and comfort him,” Keshi added. Although not called up for the June 13 Africa Cup of Nations qualifier against Chad in Kaduna, Turkey -based Emmanuel Emenike has been a key figure in the Super Eagles since breaking into the team in 2011.

Vanguard, MONDAY, JUNE 1, 2015

FIFA U20 World Cup: Mali get first win for Africa

HE second day of action at the going FIFA U20 World Cup brought mix fortunes for Africa as Mali recorded

FIFA crisis: S/Africa ‘admits $10m football payout’ S

OUTH Africa did pay $10m (£6.5m) to a football body led by Jack Warner, a figure at the centre of Fifa corruption allegations, local media say. Danny Jordaan, head of South Africa’s FA, is quoted as confirming that the amount was deducted from a Fifa payment to the country

•Jordan

•Warner

the first win for the continent while Senegal recorded the first defeat. At the Dunedin’s Otago Stadium, Mali recorded a dramatic 2-0 win over Mexico which has seen them take an early lead in Group D. The Mali/Mexico con continues on page 61

FIFA U-20 W/Cup RESULTS Qatar Mexico Portugal Uruguay

0 0 3 1

Colombia Mali Senegal Serbia

1 2 0 0

Tomorrow’s Matches Group A

Myanmar v Ukraine 2am N/Zealand v USA 8am Group B Aust v Panama 5am Arg. v Ghana 8am

Walcott refuses to commit to Arsenal

HEO Walcott refused to commit his future to Arsenal, despite scoring for the club in their FA Cup final victory. Walcott, who only has a year left on his Gunners contract, was asked about his future

on the club’s trophy parade following their victory over Aston Villa. But the England striker, who has scored four goals in his last two games playing as a central striker, was

continues on page 61

•Blatter

I want to be best player in the world —Iheanacho 2016 Olympic football qualifiers: Cameroon out! P.61

LYING Eagles star K e l e c h i Iheanacho has said his biggest dream is to be crowned the best footballer in the world. Manchester City starlet Iheanacho, who only turned 18 in December, is in New

Zealand with Nigeria for the FIFA U20 World Cup and all eyes are on him after he was voted the MVP of the 2013 FIFA U17 World Cup in the United Arab Emirates.

continues on page 61

•Iheanacho

QUICK CROSSWORD

TODAY'S

PUZZLE

FRI DAY'S FRIDAY'S

ANSWERS

ACROSS: 1 Mean (6) 5 Undergo (6) 8 Being (8) 9 Resound (4) 10 Through (3) 12 Strict (5) 15 Vase (3) 17 Sick (3) 18 Longing (3) 19 Fix (3) 20 Praise (5) 21 Sort (3) 22 Wrath (3) 23 Abroad (3) 24 Cover (3) 26 Unadorned (5) 29 Finish (3) 33 Hurt (4) 34 Positive (8) 35 Defeated (6) 36 Incorporate (6)

DOWN 2 Courage (5) 3 Cheese (4) 4 Suspect (5) 5 Javelin (5) 6 Liberate (4) 7 Anaesthetic (5) 10 Student (5) 11 Inflexible (5) 12 Slumber (5) 13 Additional (5) 14 Material (5) 15 Combine (5) 16 Nude (5) 25 Silly (5) 27 Memorise (5) 28 Outcome (5) 30 Famous (5) 31 Exclude (4) 32 Association (4)

YESTERDAY'S SOLUTIONS ACROSS: 1, Flap 4, Fat 6, Able 8, Stroll 9, Urgent 10, Leg 12, Creel 14, Broom 15, Seamy 18, Parted 20, Answer 24, Depot 26, Staff 28, Waned 30, Fee 32, Futile 33, Stupid 35, Lay 36, Even.

DOWN: 2, Later 3, Protest 4, Fall 5, Thug 6, Anger 11, Elm 12, Cup 13, Lee 16, Add 17, Yap 19, Astound 21, Now 22, Statute 23, Rod 25, Ewe 27, Fairy 29, Elite 30, Sense 31, Espy.

How to Play Sudoku

lace a number (1-9) in each blank cell. (No line can have two of the same number). Each row (nine lines from left to right), column, (also nine lines from top to bottom) and 3 X 3 block within a bold block (nine blocks) contains number from 1 through 9. This means that no number can appear twice in any block, column or row. No mathematics is involved – no adding, subtraction, division or multiplication, just plain logic and your imagination. Printed and Published by VANGUARD MEDIA LIMITED, Vanguard Avenue, Kirikiri Canal, P.M.B.1007, Apapa. Phone: Newsroom: 018773962. Deputy Editor: 01-4548355. Advert Dept Hotline: 014544821. Abuja Advert Hotline: 09-2921024. E-mail: editor@vanguardngr.com, news@vanguardngr.com, letters@vanguardngr.com. Advert:advertproduction@yahoo.com Website: www.vanguardngr.com (ISSN 0794-652X) Editor: MIDENO BAYAGBON. Phone: 01-7742861, All correspondence to P.M.B. 1007, Apapa Lagos.

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