BOKO HARAM: Change tactics, PDP govs tell GEJ by Vanguard Media Limited

...towards a better life for the people VOL. 25: NO. 62096

ONLINE | www.vanguardngr.com

N150

MONDAY, MARCH 10, 2014

MILE 2-APAPA EXPRESSWAY SHUT DOWN

SHUT-DOWN: Shut-down on Mile 2-Apapa expressway as a result of indiscriminate parking of fuel tankers, yesterday. PHOTO: JOE AKINTOLA, PHOTO EDITOR. (More photos on page 15).

Fashola, Police surrender to tankers MILE 2-APAPA ROAD:

•Why we took over the road —NUPENG

Alam's loot: Bayelsa govt drags EFCC to court 8

BOKO HARAM:

Change tactics, PDP govs tell GEJ •Jonathan, Mark call for prayers •We've lost over 100,000 people — Senator •NIS sets up border patrol corps

BY WOLE MOSADOMI, JOHNBOSCO AGBAKWURU, VICTORIA OJEME & CALEB AYANSINA

INNA — EIGHTEEN governors under the aegis of Peoples Democratic Party GoverContinues on page 6

Pete Edochie, Rita Dominic, others win big at AMVCA C M Y

•P.17

COLUMNIST:

LES LEBA•P.40 OCHEREOME NNANNA•P.48

Mr & Mrs

2— 2—Vanguard, MONDAY, MARCH 10, 2014

C M Y K

Vanguard, MONDAY, MARCH 10, 2014— —3

C M Y K

4— —Vanguard, MONDAY, MARCH 10, 2014

C M Y K

Vanguard, MONDAY, MARCH 10, 2014— —5

C M Y K

6—Vanguard, MONDAY, MARCH 10, 2014

POCKET CARTOON

the hands of the evil.” From left: Wife of Anambra State Governor, Margaret; Governor Peter Obi of Anambra State; Alhaji Aliko Dangote and Chief Emeka Anyaoku during Gov. Obi’s End of Tenure Report at the Women Development Centre, Awka, weekend.

Change tactics, PDP govs tell Jonathan Continues from page 1 nors' Forum, yesterday, took a critical appraisal of the security situation in the country with the Boko Haram killing and maiming of innocent people almost on a daily basis in the North Eastern part of the country unchallenged. They urged the Federal Government to change its tactics of fighting the insurgents. PDP governors made the appeal on a day President Goodluck Jonathan and Senate President, David Mark called for prayers to overcome the nation's security challenges. The Nigerian Immigration Service, NIS, on its part, announced that it had set up a new unit, the Border Patrol Corps, to patrol the nation's land borders, especially in the NorthEast, to stem attacks by insurgents. This was even as a Senator representing Borno Central Senatorial District claimed that over 100,000

residents of the district had been killed by Boko Haram. The PDP Governors Forum, after its meeting in Minna, Niger State, yesterday, particularly condemned the recent killings of innocent students in Yobe State. The forum, therefore, urged the security agencies to change their tactics towards containing the insurgency. Chairman of the PDP Governors Forum and Governor of Akwa Ibom State, Godswill Akpabio, said though the forum appreciated efforts of the security agencies in containing the crisis so far, it held that there was the need for them to look more inward by changing their tactics in confronting the crisis. He said: “The forum appreciates and commends efforts of the security agencies in fighting the insurgency but we urge them as a matter of urgency to change their tactics to get rid of these insurgents.”

LIFEWORDS

BY PASTOR ITUAH

If you’re supposed to be looking backwards, you’d have eyes in the back of your head, no one drives a car by looking through the rear view mirror.

TAKE HEART BY ELLA RANDLE

Be kind, for everyone you meet is fighting a harder battle —Plato Living a life filled with gratitude brings inner peace, and that means, one should strive and endeavour to be fully present in living a beautiful consciousness. This also means there will be no need to worry or be upset about anything. If you make your heart a place of compassion and love, life invariably brings the bounties of goodwill in all that you do. Be tender and patient with yourself and others too. For in humility comes beautiful love where all cares is released in the ether and a greater light fills you with more zest for life. You are love, made from love and for love. So keep on loving beautifully as always. This love is soul’s divine heritage. Be grateful for today and that you have this moment in the sun to express and live your beingness.

C M Y K

The governors then symphatized with parents and families of the innocent children who were murdered in cold blood.

On national confab

Governor Akpabio, who read the communique shortly after the meeting, said the forum also commended the President on the bold step taken on the national conference coming up soon and urged delegates to the conference to put national interest above their personal desires. The communique said: “This forum strongly identifies with our President on the forthcoming national conference and notes with satisfaction the zeal and enthusiasm shown by Nigerians in participating in the conference. "We urge all delegates to the confab to put national interest above all other considerations during the deliberations.” Governors of Jigawa, Katsina, Benue, Cross River, Abia, Bayelsa, Kogi, Bauchi, Kaduna, Gombe, Ebonyi and that of Niger, the host, were present while Sokoto, Taraba, Adamawa, Delta and Nasarawa were represented by their deputies.

Jonathan, Mark call for prayers

Meanwhile, President Goodluck Jonathan, weekend, expressed the Federal Government's readiness to stop the acts of terrorism perpetrated by the Boko Haram sect in the North-Eastern part of the country. The President, who stated this at the 2014 maiden edition of the Catholic Bishops Conference of Nigeria, CBCN, annual summit with the theme ‘Church and State Partnership in Providing Quality Education for the Nigerian Peo-

ple’ decried the deterioration of values and morals owing to poor educational policies. Jonathan assured on government's efforts to confront the challenge of insurgency in the country, while urging the gathering to pray for Nigeria to overcome her current problems. He said: “I urge you to pray for our dear country to speedily overcome the current challenges we face, especially insurgency, terrorism and the heinous killings of innocent children in schools.” Speaking further on terrorism and the wanton killing of students in Yobe State, President Jonathan said: “I believe that with your prayers and the strategies we have put in place, we shall surely surmount these challenges.” Senate President, David Mark, in his remark, described the murder of the students as barbaric and condemned “the senseless and gruesome killings by so-called disgruntled elements. “That’s not the way to express grievances,” Mark said, adding that the act of killing students has no justification.

Onaiyekan bemoans socio-political crisis:

The Catholic Bishop of Abuja, John Cardinal Onaiyekan, in his sermon bemoaned the growing socio-political crisis in the country, calling for concerted efforts to rid Nigeria of many of her troubles. Onaiyekan maintained that “many are the evils in our land: socio-political, corruption in high places, widening economic inequality, insecurity of all kinds, misuse and perversion of religion,” noting that while the problems are numerous, “let us not be afraid to tackle the evil that overwhelm us. Despair and apathy only play into

NIS sets up border patrol corps

In a related development, the Nigerian Immigration Service said it had set up a new unit to be known as the Border Patrol Corps, dedicated to patrolling the nation's land borders, especially in the North-East, where the Federal Government recently announced the closure of its land border with Cameroun to stem insurgents attacks. Comptroller General of Immigration Service, David Parrang, while speaking with newsmen, weekend, said additional 500 border control posts will be established within the year as part of measures to reduce the number of illegal entry points from the current figure of 1,400. The CG noted that short of the Ethiopian model of complete fencing of its borders fitted with sensors, prevailing scarce resources was compelling the service to adopt more practical measures to conform with the current funding challenges. On the new border patrol corps, he said: "We are designing a practical way of border patrolling. We went to the Minister of Interior and asked that we develop a Border Patrol Corps and he gave us permission to do so. We are about to launch that border patrol corps. "We need to give that section specific training; we need to give them the border patrol gear that is the dress, the arms, the equipment to ensure they carry out their duties effectively. "We are almost at the concluding stages of that process now. We are going to have the initial border patrol corps of about a thousand staff dedicated totally to border patrol, and after training we deploy them. We are not recruiting a thousand people for border patrolling; we are mopping them up from different units to be able to be part of the border patrol corps." The Immigration helmsman disclosed that, the

border patrol corps would be deployed to additional control posts along the 1,400 illegal entry points, as part of measures to reduce the porosity of Nigerian land borders within the year.

We've lost over 100,000 people — Zannah

Also, Senator Ahmad Zannah Khalifa, representing Borno Central Senatorial District, has said the Boko Haram insurgency in Borno State has claimed over a hundred thousand people of the state while about 20 local government areas were still under the control of the terrorists with the nation's security helpless in the whole situation. Zannah, who is also vice chairman, Senate Committee on Gas, in an interview in Abuja, however, said the insurgency could be completely eliminated if the Federal Government could recruit a good number of the youths as the civilian Joint Task Force and give them enough training within a short period. He said: "I want them to engage our young men who are willing to die to save their people. Even now they follow the military into the bush sometimes with bathroom slippers, without any protective wear. "If you give them 15 days training, 20 days training, 30 days training even just 1000 of them, even 500 of them, let them go together with the military, they will wipe out the Boko Haram within a month. I assure you that, I have confidence in my constituency, so let the government give us the benefit of doubt. "This is what had happened in Sierra Leone. You know that the Sierra Leonean rebels were cutting the limb of our soldiers, killing our soldiers when we went to restore peace in that country, but by involving the locals, giving them arms they were able to defeat the terrorists within no time, something which the military could not solve in two years but when they involved the locals they were able to accomplish it."

Vanguard, MONDAY, MARCH 10, 2014 — 7

Shot Osun LP member dies BY GBENGA OLARINOYE

SOGBO— A chieftain of Labour Party, LP, in Osun State, Mr. Tunji Oyelade, who was last week shot in his house in Inisa, a town in Odo Otin Local Government Area by unknown gunmen, died at Ladoke Akintola University of Technology, L AUTECH, Teaching Hospital, Osogbo, weekend. A close family member, who pleaded anonymity, told Vanguard in Osogbo yesterday that the late politician died as a result of gunshot injuries he sustained

after suspected assassins attacked him and his wife. The source added that Oyelade underwent series of operations to extract bullets from his stomach before he finally died on Friday. It would be recalled that two masked men attacked Oyelade at Oju’ run area of Inisa town last Wednesday evening and shot him in the stomach. After Oyelade had been shot twice, his wife, who was in the house when the attackers came, had her mobile phone seized and was bound while the operation lasted.

SUSPECTS: Suspected cultists paraded by Ebonyi State Police Command, weekend. PHOTO: Peter Okutu.

Kidnappers of Rivers PDP chieftain demand N30m ransom BY JIMITOTA ONOYUME

ORT HARCOURT— KIDNAPPERS of Mr. Dickens Worlu have demanded N30 million naira

ransom for his release. It would be recalled that Mr. Worlu, a chieftain of Peoples Democratic Party, PDP, was kidnapped about a week ago at his residence in Ojike

Street, Diobu, Port Harcourt. The victim’s wife, Patricia, who spoke yesterday when the National Association of Seadogs, A.K.A. Pirates Confraternity paid her a

Bauchi police arrest 3 for raping, plucking out woman's eyes BY SUZAN EDEH

AUCHI— POLICE in Bauchi State says it has arrested the three suspected ritualists that were responsible for plucking out the eyes of a middle aged woman, Zainab Mohammed, after raping her in Lukshi village, Dass Local Government Area of Bauchi State.

The state Police Public Relation Officer, PPRO, Deputy Superintendent of Police, Haruna Mohammed, gave the names of the suspects as Sabo Rabo of Durr Kat Village, Bitrus Yakubu of Dado Village and Mohammed Bamigboye of Durr Katanga Village. He said: “The three suspects that were responsible for raping and removing the eyes

of a young lady, while she was returning from a ceremony, were arrested following some useful information given to the police by some residents in the area.” The PPRO said the suspects have confessed to the crime and will be charged to court. He urged residents in the state to be conscious of their environment and report any suspicious character to police.

Cultists storm Rufus Giwa Poly, 8 arrested BY DAYO JOHNSON

KURE— NO fewer than eight students suspected to be cult members have been arrested at Rufus Giwa Polytechnic, Owo, Ondo State, by Police detectives. They allegedly stormed the institution, weekend, in search of another cult member said to have crossed their line. Their arrest from their hiding places by men of the State Anti Robbery Squad followed intelligence report. Report had it that they were arrested with different kinds of sophisticated weapons as they attempted to enter the main campus, which is

C M Y K

opposite Ikare Owo Akure expressway, but were denied entrance by the institution’s security officials. A shootout ensued between the cult members and the security operatives in the institution, following which there was stampede in the school premises. One of the student leaders who spoke with newsmen said the cult members invaded the institution in search of one student who belonged to another confraternity. He said the cultists had earlier invaded one of the off campus hostels called Igbo lodu, before moving to institution’s gate. Spokesman of the state

Police Command, Wole Ogodo, confirmed the arrest. He said Police was still investigating the identities of those arrested.

sympathy visit, said the family had been praying for the safe and unconditional release of her husband. She said the family had not been the same since the sad incident. She also appealed to the kidnappers to have pity on the family and release the husband. She said: “We don’t have the money. Where will the money come from? We are begging that they release my husband unconditionally.” Professor Temi Akporhonor, who led other members of the SeaDogs on the visit, lamented the state of insecurity in the country, adding that the Rivers State government and the security agencies should take practical steps to secure the unconditional release of the hostage. Describing Mr. Worlu as a personal friend, Akporhonor said it was sad that some criminal elements were trying to reduce the nation to a jungle. He urged the wife of the hostage and other family members to be strong; assuring that the security agencies and government would work to secure release of the head of the family.

2 bag 22 years for abducting Baraje's son BY DEMOLA AKINYEMI

LORIN— AN Ilorin High Court Judge has sentenced two kidnappers, Ajadi Oba AbdulRasheed and Ayeni Abayomi, to imprisonment for criminal conspiracy to commit kidnap, extortion and armed robbery in respect of Biodun Baraje, son of the former acting National Chairman of Peoples Democratic Party, Alhaji Kawu Baraje. It would be recalled that AbdulRasheed, Abayomi and two others at large, kidnapped Abiodun Baraje on February 4, 2010 at Success and Regards Filling Station along Asa Dam Road, Ilorin. Justice Mahmud AbdulGafar, while delivering the judgment, said two others that were connected with the offences, Rasaq and Yakubu AbdulRasaq, also known as Alfa Taiye, were still at large.

... 9 in Ebonyi for cultism, attempted murder BY PETER OKUTU

BAKALIKI—EBONYI State Police Command, weekend, arrested and paraded nine suspects allegedly involved in crimes related to attempted murder, arson and cultism. The suspected cultists, who are mainly undergraduates of Ebonyi State University,

EBSU, Abakaliki, were rounded up at their meeting spot in Ishieke, Ebonyi Local Government Area of the state by the State Anti-Robbery Squad, SARS, when they were about introducing new members to the old ones. The cult group, Burkina Faso Confraternity, alias BF, was said to be notorious for terrorising the campus

community. According to Police, the suspects confessed to being members of the confraternity. They are Adidakun Segun, 28; Augustine Dike, 26; Okoro Maduabuchi, 25; Igwe Chukwunonso, 22; Udora Emeka, 25; Kingsley Nzekwe, 26; Samuel Ikpenyi, 28; Ifeanyi Odo, 25 and Okonkwo Ikechukwu, 30.

8—Vanguard, MONDAY, MARCH 10, 2014

Alamieyesiegha’s loot: Bayelsa govt drag EFCC to Court BY IKECHUKWU NNOCHIRI

BUJA—THE Bayelsa State government has dragged the Economic and Financial Crimes Commission, EFCC, before the Abuja Division of the Federal High Court, asking that the sum of N1.4 billion and another 1.3million USD that was recovered from the former governor of the state, Diepreye Alamieyesiegha, be remitted to its treasury. In a writ of summons it entered before the high court against EFCC and its Chairman, Mr Ibrahim Lamorde, Bayelsa State, applied for a declaration that the failure of EFCC to remit the complete funds recovered from Alamieyesiegha after he was investigated and prosecuted and “subsequently trading with the funds by way of funds placement/fixed deposits is an act of corruption and an economic crime contrary to sections 6 and 7 of the EFCC (Establishment) Act, 2004.” The state, through its lawyer Mr Anthony Agbonlahor, further prayed the court to issue an order directing the anti-graft commission to forthwith, pay the monies with the interest which had accrued on them over the past years. Besides, the plaintiff, urged the court to declare that the EFCC boss, Lamorde, who took part in the investigation and prosecution of Alamieyesiegha, should not have allowed the looted funds recovered from the exgovernor to be traded with. It therefore beseeched the court to hold that Lamorde is not qualified to continue in office as chairman of EFCC having violated his oath of office. More so, it prayed the court to order EFCC to pay 21 per cent interest on the N1.4 Billion and the $1.3 million from 1 November 2013, until judgment was delivered by the court. Bayelsa state further asked the court to, “direct EFCC to pay to it $400,000.00 being the amount forfeited by its former governor and which funds had since been repatriated by the United States Government to the EFCC.” No date has been slated for the commencement of hearing on the matter which has already been assigned to Court No. 6 at the Federal High Court.

Stop bemoaning our exit; fix PDP, Nigeria’s problems, 5 APC govs reply Jonathan BY SONI DANIEL, Regional Editor, North

IVE former governors of the Peoples Democratic Party, PDP, who defected to the All Progressives Congress, APC, last December, yesterday, asked President Goodluck Jonathan to stop bemoaning their exit but to find urgent answers to the problems bedevilling his party and Nigeria. The governors of Adamawa (Murtala Nyako), Rivers (Rotimi Amaechi), Sokoto (Aliyu Wamakko), Kwara (Abdulfatah Ahmed)and Kano, (Rabiu Kwankwaso) said they had left the PDP for good and were not considering returning to their former party because of the high level of impunity and injustice, which drove them away to APC. The governors, who disagreed with the President that they were the cause of PDP’s problem, advised him and the leadership of the PDP to take their eyes off them and concentrate on their own party members and issues as they were no longer part of the PDP. President Jonathan, had while addressing a PDP rally in Minna, the Niger State capital on Saturday, described the five governors who defected from the PDP as the cause of the party ’s problems and said that it was good that they exited from its fold. The President, who also likened the five governors and other defecting politicians to chameleons, said such politicians should not be trusted, as they continued to change their platforms. But in replying Jonathan,

the governors accused him of presiding over a party that adopted impunity, lawlessness and injustice as a manifesto and treated Nigerians with disdain all in a bid to satisfy the interest of a few elements within its fold. The governors, who spoke through the Adamawa State Governor, Murtala Nyako, noted that Jonathan had through his leadership style and his party done more than anybody else to make people to turn political chameleons either through direct inducement or through high level of impunity and injustice. The governor, who spoke through his Director of Press and Public Affairs, Mr. Ahmad Sajoh, said President Jonathan was pained that he

lost five governors at once to a more responsible party and that the APC was sure of victory in 2015 to end the 16 years of lawlessness perpetuated by the PDP in Nigeria. The governors said, “We want to plead with Mr. President to stop bemoaning over our defection from the PDP. Indeed, our advise to him is to begin to look inwards and see what is wrong with his party and Nigeria and find answers to the challenges rather than continuing to mourn over our departure from a sinking ship called PDP. “If we were the problems of the PDP as the President claimed, we wish him and his party goodluck now that we have joined forces with the other party to rebuild Nigeria

and meet the needs of Nigerians who have been suffering in the last 15 years under his party. "While consoling him over the loss of governors and other party members to the opposition, we plead with him to act as the leader of Nigeria by treating all Nigerian citizens with respect irrespective of party platform, tribe or religion and stop playing politics with everything,” the governors pleaded. The governors have ruled out the possibility of returning to the PDP despite repeated pleas by the National Chairman of the party, Alhaji Adamu Mu’azu, who disagreed with President Jonathan’s attack and pleaded with them to return to the PDP.

AWARD: From left—Yul Edochie, son of Pete Edochie, winner of Industry Merit Award; Michelle Bello, winner of Trail Blazer Award; Biola Alabi, Managing Director, M-Net Africa; John Ugbe, Managing Director, MultiChoice Nigeria; Rita Dominic, winner in the Best New Era Award and Walter Drenth, Marketing Director, Nigeria Breweries during the 2014 Africa Magic Viewers Choice Award, held at the Eko Expo Hall, Eko Hotel ,Victoria Island, Lagos on Saturday.

Pete Edochie, Michelle Bello, Rita Dominic, others win big at AMVCA BY BENJAMIN NJOKU

AGOS—LEGENDARY actor, Pete Edochie and producer of the award-wining film, “Flower Girl”, Michelle Bello, emerged the big winners at this year ’s edition of the AfricaMagic Viewers Choice Award, AMVCA, which held weekend, with each walking away with a brand new Hyundai SUV car. Edochie, who has sojourned in the movie industry for 35 years after playing the lead role of Okonkwo in an NTA adaptation of Chinua Achebe’s all time best selling novel, “Things Fall Apart” in the 80s, was honoured with the Industry Merit Award for his

contribution towards the growth of the film sector in Africa. He was presented with a brand new Hyundai SUV car which was received on his behalf by his son,Yul Edochie. Also, Michelle Bello whose ‘Flower Girl” film won the Best Writer in a Comedy award smiled home with an Hyundai SUV car, having won the Trailblazer award. Rita Dominic won the Best New Era Award as the award came with a trip to Dubai. Other Nollywood stars who won big at the event were Funke Akindele - Best Actress in Comedy, Nse Ikpe-EtimBest Actress in Drama for her role in “Journey To Self’, Osita Iheme–Best Actor in Comedy

for his role in “The Hero”, Desmond Elliot - Best Supporting Actor in Drama for his role in “Finding Mercy”, Elvis Chucks - Best actor in Comedy, Obi Emelonye-Best Sound Editor and Luke Corradine(Last Flight to Abuja), Mercy Aigbe - Best Indigenous Language Yoruba award among others. However, Kenyan’s film, “Nairobi Half Life” was the highlight of the night as the movie won 4 of the 5 awards won by Kenyan actors. Also, Ghanaian ace-producer, Shirley Frimpong-Manso won three awards for the movie, “Contract.” The awards night, which held at the Expo Hall, Eko Hotel and Suites, Victoria

Island, Lagos, and hosted by IK Osakioduwa, Osas Ighodaro and Vimbai Mutinhi was filled with glamour and glitz, as Nollywood and Ghollywood stars, legends graced the event. Thrilling the audience with live performances were Davido, Bez, Waje and Cobhams. Speaking at a press conference after the event, the Managing Director of M-net Africa, organisers of the event, Mrs Biola Alabi said, the essence of organsing the award is to celebrate the African film makers as well as promote their works. The award night was held in association with MultiChoice Africa and Amstel Malta.

Vanguard, MONDAY, MARCH 10, 2014—9

National confab: Beware of past mistakes, Okoh urges FG ...Former LG chairmen disown delegates BY SAM EYOBOKA, HENRY UMORU, CALEB AYANSINA & CHRIS OCHAYI

...Ijaw leader flays exclusion of Itsekiri delegates were unknown persons. In a protest letter signed by National President of FELGOCAS, Iliyasu Isa Danmusa, the former chairmen explained that following the request by the Federal Government for nomination of delegates, the umbrella body of the former council chairmen had last month forwarded a list of its nominees to the office of the Secretary to the Government of the Federation (SGF). The names of those it forwarded to the SGF were Hon Iliyasu Isa Danmusa (North West), Hon Hassan Kafayos (North East), Hon Bala Salisu Lokoja (North Central), Hon Martias Ekweremadu (South East), Hon Emmanuel Soroku (South-South) and Hon Prince Adesegun Abdel Majid Adekoya (South-West). However, those published as delegates are Hon. Felix Akhabue, Barr. Nasiru Ibrahim Junji, Alhaji

Abubakar Sadiq Ahmed, Barrister Igberi Nweme, Hon. Emmanuel Tsamdu and Chief Shola Ebiseeni. Alleging manipulation of the list, FELGOCAS in the protest letter dated March 7, urged the government to effect the required changes and accept its duly nominated delegates because “we are the legitimate registered members under former elected local government chairmen association with the Corporate Affairs Commission.” Reacting to this development, a former chairman of Kosofe local government in Lagos State, Prince Adesegun Adekoya said members of FELGOCAS will not condone the manipulation of the delegates’ list and will do everything legally possible, including mobilization of former and incumbent council chairman, to protest hijack of the delegates list. Prince Adekoya, who is also the FELGOCAS National Vice

chairman (South West) explained that there is only one legally recognized umbrella body of former elected council chairmen in the country and wondered where the office of the SGF got the list it published as former council chairmen.

BUJA—EXACTLY seven days to the beginning of the National Conference, the Primate of the Anglican Communion, Most Reverend Nicholas Okoh, has asked the Federal Government to guide against issues that torpedoed past Include Itsekiri— Smooth exercise, warning that failure of Criticising the exclusion of the the conference could send a Itsekiri in the conference, Chief wrong signal on the future and Smooth, described the unity of the country. development as unfortunate, Okoh, who noted that most adding that the national Nigerians were looking forward conference should be a true to the confab with high optimism, representation of every ethnic said the atmosphere should be group irrespective of the size, made conducive for delegates to colour and location. discuss relevant issues with According to him, “the Itsekiris frankness and sincerity. who are one of the major oil He said although the producers in the Niger Delta and government of Nigeria was having contributed immensely to committed to indivisibility of the the growth and development of country, he averred that delegates, Nigeria should not have been who feel that the unity of Nigeria excluded from this very important is negotiable, should feel free to dialogue where the fate of the express their views. country would be discussed.” Okoh, who made this known in Abuja during an interview with newsmen, stated that at no time than now should the component units in Nigeria use the confab as a veritable opportunity to determine whether or not Nigeria should be. His words: “The conference must not fail. If it does, Nigerians would be disillusioned. It must solve the Nigerian problems. The questions about the Nigerian project must be thoroughly addressed. If the federation of Nigeria should remain indivisible and indissoluble in line with the thinking of the government, then after this conference, I should be able to sleep in Kano and close my two CONFERENCE: President Goodluck Jonathan (5th right) with Catholic Church Bishops at the Nigerian eyes without any fear. Somebody Catholic Bishops' Conference opening session at the Our Lady Pro Cathedral, Garki, Abuja yesterday. from Kano should be able to live in Kano, sleep there with his eyes closed. Somebody should lie down in Lagos or Warri without thinking of ethnic sentiments. The same thing should happen in Zamfara, Yobe, Sokoto, Maiduguri and other states in the BY HENRY UMORU effort of our leadership and the will never disappoint him. North without outsiders having women in the South West, we will According to Osundara, whose fear about religion and other deliver the six states from the theme of the South West gathering BUJA—AHEAD of 2015 things. If we went to the National South West to Mr. President. That was 'Peace, Unity and Love for presidential election, the Conference and come back is why we are calling on him to National Development', “We are South West Youth wing of the without resolving the issues, then come out for the people to know in total support of the leadership Peoples Democratic Party, PDP we have not started as a Nation.” all that he has done for this nation. of our party in the South West and yesterday said that they were Okoh spoke as former local I don’t think he should delay or their actions towards seeing that running out of patience and very council chairmen disowned the hesitate in coming out in a minute Mr. President returns to office in eager to see President Goodluck list of delegates as their because we are waiting and 2015. That is why the youths from Jonathan declare his intention for representatives just as a eager. all the states in South West have a re-election, just as they vowed prominent Ijaw leader, BolouAlso yesterday, the South West gathered here in Abuja with more to deliver all the states in the zone Owei of Izon-Ebe, Chief Tunde leaders of PDP under the aegis, than over 1,000 delegates from all for him. Smooth condemned the nonSouth West Elders Council led by Addressing journalists in Abuja the six states in the South West. inclusion of the Itsekiri Nation in former Deputy National “We want to reiterate here that yesterday, spokesperson for the the conference. Chairman, Alhaji Shaiubu we want Mr. President to come PDP youths and youth leader, The former council chairmen, Oyedokun threw its weight out and contest. There is no Ogun State chapter, Alhaji who spoke on the banner of behind President Jonathan’s rereason why he should be delaying Taofeek Osundara expressed his Former Elected Local election bid and asked him to as his declaration because we are total support for the Alhaji Adamu Government Chairmen a matter of urgency declare that eagerly waiting for him and we Muazu-led National Working Association, FELGOCAS, he was running for the election. are ready and have what it takes Committee and the president, yesterday, said those on the list Meanwhile, Chairman of PDP to deliver the South West; with the adding that youths in the zone of former council chairmen

IG orders probe of Enugu Government House invasion by armed men BY EMMA NNADOZIE

HE Inspector-Gener al of Police, Mohammed Abubakar has ordered a full scale investigation into the circumstances surrounding the invasion of Government House, Enugu, weekend, by a gang of armed men during which one person was killed while three others were arrested. Police sources at the Force Headquarters, Abuja intimated Vanguard that the police boss who was visibly piqued by the development directed both the Assistant Inspector-General of Police in-charge of Zone 9, Umuahia and the Commissioner of Police, Enugu State to swing into action with a view to unraveling the motive behind the early morning attack during which dangerous weapons including guns, machetes among others were freely used for hours before security men comprising policemen, men of the Nigeria Security and Civil Defence Corps, NSCD, and soldiers prevented the assailants from gaining entry into the official residence of Governor Sullivan Chime. The sources said both the police high command and the Presidency were highly rattled by the ugly development which they said should be regarded as insurrection and have ordered all relevant security agencies to swing into action and round up both the fleeing attackers and their sponsors.

2015: Declare now, South West PDP youths, elders tell Jonathan ...As Anenih calls for unity among members

Board of Trustees, BoT, Chief Tony Anenih has pleaded with party stakeholders, elders, leaders and members from the South West to bury their hatchets and reconcile their differences for the interest of PDP if they must remain relevant in the Party. Anenih, who spoke at his residence when he received members of South West Network led by its Chairman and Senate Deputy Chief Whip, Senator Hosea Agboola, stressed that against the backdrop of the political scenario in the Zone, it has become imperative for the group to work with elders of the party at the states and the National level to address the dwindling fortunes of the party in the west.

10 — Vanguard, MONDAY, MARCH 10, 2014

Bisi Akande flays INEC over alleged inefficiency BY GBENGA OLARINOYE

SOGBO—INTERIM National Chairman of the All Progressives Congress, APC, Chief Bisi Akande has condemned the Independent National Electoral Commission INEC for what he described as inefficiency and electoral manipulation ahead of the 2015 general election. Akande who bore his mind on the three days Permanent Voters Card collection in Osun State condemned the exercise, saying that he was uncomfortable with the INEC handling of the exercise.

people that came after me could not find their names on the list.

Repetation of names

“Some names which appeared once on the voters register in 2011 appeared twice. Some names that appeared in 2011 did not

appear again on the list for the collection of the PVC which makes me to become worried and I began to ask questions. Even in some units where INEC registered 100 people, the register never covered 60 per cent success in such areas. “This makes me to doubt INEC

which smuggled 100, 000 names into the voters register in Ondo State and used it to rig election. If we don’t act now and let the world know that INEC is inefficient and fraudulent and that INEC has started manipulation of Osun State election with this exercise, we will be doing a bad thing to Nigeria.”

Alleges fraud

According to Akande, the collection of the PVC was marred with irregularities and fraud which underscored INEC inefficiency and incompetence. Akande who spoke with journalists, weekend, after collecting his PVC in his country home, Ila said: “My assessment of the collection of permanent voters card is that am uncomfortable. “I came for the validation of my voters card where I registered and voted in 2011 today. I was able to collect my card but some of the

Akande registered and collected his PVC at Unit 12 Obalumo compound, Atewogbade Street, Isedo 1 in Ward 4, Ila, Ila Local Government Council Area of Osun State.

Reports INEC to APC

The APC chairman said he has reported the situation to the national office of his party; saying: “We have just concluded the registration of our party members and we have met the biometric control for the registration of party membership."

FG should reveal cost of centenary celebration —SERAP BY ABDULWAHAB

DEFECTION: Former Deputy Governor of Ogun State, Alhaji Rafiu Ogunleye (middle), addressing defectors to the Peoples Democratic Party, PDP, in Abigi, Ogun Waterside Local Government. With him are Chairman, Organisation and Mobilisation Committee, PDP, South West, Prince Buruji Kashamu (left) and State Chairman, Engr. Adebayo Dayo.

Confab: It’s a distraction, waste of resources —TINUBU

BY GBENGA OKE

AGOS—SENATOR representing Lagos Central Senatorial District in the National Assembly, Senator Oluremi Tinubu, weekend, criticised the convocation of a National Dialogue by President Jonathan saying it is a distraction and mere waste of time and resources. She also questioned the rationale behind the convocation of a National Dialogue when the 2015 elections is around the corner. Speaking during the 10th Town Hall meeting with constituents of Lagos Central Senatorial District, Sen. Tinubu said the government must get its priorities right in pursuing real economic growth and Nigeria must cure itself of waste and over dependence on oil income. According to her; “In the 2014 budget that just passed through second reading on Tuesday February 4, 2014, a total sum of 7 billion was allocated for the National Dialogue. I am not against convening a National Conference, but the question is why now that gubernatorial elections in Ekiti and Osun states are just around the corner.” Giving reports of her stewardship and activities at the Lagos Central District, she said: “During our eighth Town Hall Meeting on September 27, 2013, pioneer trainees under the Youth Empowerment and skills Acquisition Scheme, YESAS, graduated after learning various skills to enhance their independence and economic productivity."

ABDULAH

AGOS—SOCIOEconomic Rights and Accountability Project, SERAP, has requested the Federal Government to make public what it expended on the centenary celebration. In a statement issued in Lagos, yesterday, by its executive director, Mr. Tokunbo Mumuni, the non governmental organisation condemned what it called a celebration of corruption by the government for given out “public awards to indicted corrupt public officials, sending a wrong message that amounts to a triumph of corruption over public probity and integrity.” Besides, SERAP in its statement, supported the Nobel laureate, Professor Wole Soyinka on his rejection of the centenary award, and said that any public award for corrupt people was not portraying the government as ready to battle corruption in Nigeria. The organisation said: “The award to the late military dictator, Gen. Sani Abacha, considered one of the most corrupt leaders the country ever had, cannot be justified on any ground whatsoever, and in fact send the message that corruption pays."

Pharmacy college seeks fake drugs elimination though statistics from the Nigeria. BY CHIOMAOBINNA

AGOS—WORRIED about the effect of fake drugs on human health, West African Postgraduate College of Pharmacists, WAPCP, has called for total elimination of fake drugs in C M Y K

Making the call at a briefing in Lagos on its forthcoming 26th Annual General Meeting and Scientific Symposium, the Chairman, Ike Onyechi who described fake drug as a global menace said

National Agency for Food and Drug Administration and Control, NAFDAC, showed huge reduction in the incidence of fake drugs in the country, the war is not over until fake drugs are eliminated completely.

C M Y K

Vanguard, MONDAY, MARCH 10, 2014 — 11

EKITI GUBER: PDP clears Fayose, Olubolade, Adeyeye, 12 others, disqualifies one A

BY HENRY UMORU

BUJA—AHEAD of this week's March 15 primary election of the Peoples Democratic Party, PDP, the party’s screening Committee, weekend, screened 16 aspirants, cleared 15 and disqualified one of the male aspirants, just as the five member committee would submit its report to the party’s National Chairman, Alhaji Adamu Muazu today. Vanguard gathered at the end of the exercise held on Saturday which started as early as 10 am and ended 8:15 pm that the committee that has the Senate Majority Leader, Senator Victor Ndoma-Egba as Chairman, cleared former Governor Ayodele Fayose, immediate past Minister of Police Affairs, Navy Captain Caleb Olubolade, Gbenga Aluko, Adedayo Adeyeye, and 11 others, and disqualified one following his failure to produce evidence of dues paid to the party. At the end of next Saturday’s primary election where a candidate would emerge for the party, the party’s standard

bearer would then square up with the incumbent governor, Kayode Fayemi of the All Progressives Congress for the June 21 Ekiti State Governorship election. Meanwhile, there was a mild drama at the Wadata plaza when Senator NdomaEgba-led screening committee sent home one of the aspirants, Mrs. Bolarinwa Oloyede, saying that her name was not among the 16 names sent to the Committee to screen, adding the mandate of the Committee was to attend to the names sent to it and not anyone outside the list, even as he stressed that the Committee did not have before it her documentation. But explaining her ordeal, Mrs. Oloyede said that she could not meet up with last Thursday deadline for the submission of expression of interest form ahead of yesterday screening exercise because of the lingering fuel scarcity in the country where she had to queue for fuel in AdoEkiti, Ekiti State capital for four hours last Thursday, adding that she rushed to Lagos to catch a flight to Abuja but could not meet

up. Prior to the commencement of the screening exercise, Senator Ndoma-Egba who addressed the aspirants disclosed that the committee would give all a level playing field, would be

motion for the secretary’s removal. Investigation further revealed that the first practical step towards achieving the removal started at the weekend with the collection of signatures from the Secretary’s ward in Ife Central Local Government area of the state calling for his removal. The move was then followed by a senatorial meeting for Osun East Senatorial district which held at Osu yesterday, the reports of the two meetings will be tabled at today’s

meeting. Today’s meeting may, however, be stormy because the State Chairman who is allegedly leading the onslaught for the Secretary’s removal may receive a shocker and be confronted with allegations of wrong doings and a motion of no confidence may also be moved against him. The state Chairman was alleged to be working for the success of one of the governorship aspirants who sees the Secretary as a stumbling block towards a plot to install him as Party’s candidate at the primaries slated for April 5, 2014.

Appeal Court sacks Oba in Ondo BY DAYO JOHNSON KURE—THE Court of Appeal, Akure Judicial Division weekend sacked the Jegun of Idepe, Okitipupa, Ondo state, Oba Micheal Adetoye Obanuga and ordered him to vacate the throne with immediate effect. Consequently, the Court ordered that a fresh selection process which must exclude the sacked monarch and the Ruling House which produced him be initiated by the government forthwith. It will be recalled that an

High Court sitting in Okitipupa had sacked the Oba over faulty selection exercise by the kingmakers. Justice Mojeed Adekunle Owoade who delivered the lead judgement dismissed the nine-year-old appeal filled by Oba Obanuga on the grounds that it lacked merit and failed in its entirety. The judgement was unanimously supported by the presiding Judge, Justice Sotonye Denton West and Justice Cordelia Ifeoma Jombo-Ofo.

as the party’s engine room, adding that whoever emerges would reclaim the state from Governor Kayode Fayemi. The Senate Majority Leader further disclosed that his Committee would submit its report today.

BIRTHDAY: From left: Chief Ernest Shonekan, former Head of Interim National Government, Gen. Yakubu Gowon, former Head of State, Otunba Subomi Balogun, the celebrant and his wife, Olori Abimbola Balogun, Chief Christopher Ogunbanjo, Mrs. Olufunso Amosun, First Lady of Ogun State and Governor Ibikunle Amosun of Ogun State, at the 80th birthday of Otunba Subomi Balogun in Lagos. Photo: Akeem Salau.

Osun PDP in fresh crisis over scribe’s removal BY GBENGA OLARINOYE, SOGBO—A major crisis of confidence is brewing in the Osun state chapter of the Peoples Democratic Party, PDP, over planned removal of the state secretary of the party, Major Raphael Tewogbola (rtd) by a faction of PDP suspected to be loyal to one of the party ’s three governorship aspirants Already the state working committee of the party had scheduled two meetings for the Party secretariat this morning to consider a

transparent as well as carry out a thorough assignment, just as he said that the committee would be guided by the Constitution of the Federal Republic of Nigeria, the PDP’ s constitution and the guideline of the party. He also commended the aspirants, describing them

They upheld the decision of the trial judge of the Lower High Court, Justice J. Akintoroye which was delivered on December 14, 2005, that the Oba was not selected at a proper or valid meeting of the kingmakers to the Jegun of Idepe Chieftancy. Appellants in the appeal Oba Obatuga and High Chief Felix Oladejoye Obamonire had filed 12 grounds of appeal through their lawyer, Chief Wole Olanipekun, SAN, in which they raised seven issues for determination.

12—Vanguard, MONDAY, MARCH 10, 2014

BNC faults exclusion of Ovonramwen from centenary awards BY SIMON EBEGBULEM

HE Benin National Congress, BNC, weekend, described as unacceptable the failure of President Goodluck Jonathan

to include Oba Ovonramwen Nogbaisi in the list of awardees in the recent centenary celebration. BNC, in a statement by its national President, Aiyamenkhue Edokpolo,

after a meeting of the group in Benin, recalled that Oba Ovonramwen of Benin Kingdom resisted the British and wondered why his name was excluded from the list of awardees referred to as Heroes of Nigeria. The group urged the committee that came up with

OKONJO-IWEALA'S MOTHER: May 15 for judgment on N3b suit against NA BY AUSTIN OGWUDA

SABA— AN Asaba high court in Delta State has fixed May 15 to deliver judgment in a N3 billion suit instituted by 63 residents of the state against the Nigerian Army over illegal arrest and detention during the search for the kidnappers of Professor Kamene Okonjo, mother of the Minister of Finance, Prof. Ngozi OkonjoIweala. The court scheduled judgment after the parties exchanged papers and made submissions on point of law. Warrant Officer, Ojo Yahaya of Headquarters, 2 Division Nigerian Army, Adekunle Fajuyi Cantonment Odogbo, Ibadan, in a counter-affidavit

opposing the applicants’ Motion on Notice stated that “the commandant of the 4 Brigade Military Headquarters, Benin, referred to in the affidavit is not one of the legally recognised officers of the

Nigerian Army and that President Goodluck Jonathan did not at any time give an ultimatum to the Nigerian Army or any of its legally recognised officers to fish out the kidnappers of Mrs. Kamene Okonjo.”

AP faction rejects delegates to nat'l confab BY GABRIEL ENOGHOLASE

ENIN— CRISIS is brewing within the Accord Party, AP, over the nomination of former Governor of Oyo State, Alhaji Rasheed Ladoja and Mohammed Nalado by the party as its delegates to the

National Conference with their rejection by a faction of the party led by Rev. Isaac Adeniyi and Dr. Samson Isibor. A statement in Benin, yesterday, by Rev. Isaac Adeniyi and Dr. Samson Isibor, factional National Chairman and Secretary, respectively, at the end of the

Mein-Butu community leaders seek release of 8 detainees

EADERS of Mein-Butu community, Delta State, have appealed to President Goodluck Jonathan, Chief E. K. Clark and HRM, Augustine Ebikeme of Oporomor kingdom to prevail on Chief Government Ekpemupolo, A.K.A. Tompolo, to release Chief Michael Johnny, Chief Mosco Johnny and six others from detention. The six others are Bullet Otuaro,

C M Y K

the list of the awardees to apologise to the Bini, just as it urged President Jonathan to address the anomaly. According to the statement, “ we find it utterly regrettable that Oba Ovonramwen, who resisted western imperialism that led to the ultimate price, where genocide was unleashed on the kingdom, looting of our shrines and kidnapping of women and children, among other afflictions, could be misplaced in a list meant to honor the living and dead patriots of Nigeria. “It is an unprovoked attack on the psyche of our people. It is unthinkable that the legendary Oba Ovonramwen did not attract the spotlight of the centenary committee in spite of our open letter.”

Tony Ikpessan, Messo German, Itare Christmas, Imole Jonny and Alex Governor. Representatives of the community, Zinc Bouudle, Mike Gomeromo, Andabafa Nama, Denco Moni and Tobo Fubri, said the dispute between Tompolo and them was a family matter and should be settled as such. They said they were making moves to broker peace on the dispute which led to the arrest and detention.

party ’s National Executive Council, NEC, and the National Working Committee, NWC, said Alhaji Mohammed Nalado and Rasheed Ladoja were no longer members of AP, having earlier been expelled in line with the party ’s constitution. It said: “We reject in its entirety the inclusion of the two in the list of delegates to the proposed conference as representatives of AP.”

POWER: Oshiomhole assures investors of govt's support BY SIMON EBEGBULEM

E N I N — GOVERNOR Adams Oshiomhole of Edo State, weekend, assured private investors that his government would provide an enabling environment and incentives for operations. He gave the assurance when he granted audience to the management of the Azura Power Plant, who paid him a courtesy visit at the Government House. The governor said: “We cannot appreciate you enough for the confidence you have demonstrated in our state and country by locating the power plant here. “We are ready to do anything that is lawful and reasonable to encourage you. The paradox of the Nigeria society is the issue of power supply. This is a project whose viability in not in doubt.”

Only taxpayers 'll enjoy free services — AKPABIO

T is now compulsory for parents and wards of children benefiting from free education and healthcare services in Akwa Ibom State to show evidence of tax payment. Governor Godswill Akpabio, who gave the directive after signing the 2014 Appropriation Bill into law, noted that public servants were also affected by the directive. He said: “The Ministry of Finance and Board of Internal Revenue must carry out taxpayers’ registration of every worker in the state.” He said that the Ministry of Health and Ministry of Education must make sure that the parents' Tax Identification Number, TIN, was given before a child could benefit from free services.

Vanguard, MONDAY, MARCH 10, 2014 — 13

C M Y K

14—Vanguard, MONDAY, MARCH 10, 2014

2015: Chime insists on power rotation in Enugu BY TONY EDIKE

NUGU — GOVERNOR Sullivan Chime of Enugu State has reiterated his earlier position that elected public officers on the platform of the People Democratic Party, PDP, from the state, including members of the National Assembly, who have served more than a tenure should give way for fresh candidates to emerge in 2015. The governor, who spoke at the State Executive Council, SEC, meeting of the party in Enugu, weekend, said there was need for elected public officers to eschew

Gov. Orji tasks Abia delegates at the National Confab BY ANAYO OKOLI

MUAHIA — AHEAD of next week’s inauguration of the National Conference, Abia State governor, Chief Theodore Orji, has charged the state’s delegates to represent it well. He specifically charged them to articulate in clear terms the state’s position on issues that would come up for discussion. Orji, who met with the delegates, weekend, at Government House, Umuahia, said the conference would involve brain work, pointing out that it would provide them the opportunity to showcase Abia State and themselves. In his response, leader of the team and former Senate President, Chief Adolfus Wabara, gave the assurance that the delegates would fight for Abia State with one voice and will be guided by the report of the technical committee, assuring that they would not let the state down.

sit-tight syndrome and allow others who never had the opportunity of enjoying the benefits of such offices to do so. He said political offices should not be seen as a football club where players would remain so long as they could actively play, stressing that even in football profession, players that had over-

HE FEDERAL Gov ernment has been urged to put measures in place to check pilfering of cargoes and luggage at airports and seaports in Nigeria. Managing Director, HontGlobal Services Nigeria, Limited, Mr. Humphrey Okonkwo, who made the call, said millions of dollars had been lost to the pilferage of luggage and cargoes

that can achieve that. "In each election we kept on improving. During the last election, the unexpected happened because all our 17 local government chairmen were returned unopposed. “My wish is that in the very near future if not next year, we should be able to produce a governor unopposed. It will happen. We are working towards it. We will not impose any candidate, of course, the idea of imposition breeds violence, thuggery and all that." “We are hoping that later this year we will come to-

CELEBRATION: From left, Mr. Bode Ogunlela, Cathedral Warden; Mrs. Modupe Kolawole, Secretary, 50th anniversary; Professor Wale Omole , Chairman, 50th anniversary of Vining Church, Rev. James Odedeji, Bishop of Lagos West; Most Rev. Nicholas Okoh, Archishop, Metropolitan, and Primate of All Nigeria, Rev. Johnson Atere, Bishop of Awori; Chief Segun Osunkeye, Chairman, Nestle Plc and Venerable Abel Ajibodu, Dean of the Cathedral, during the grand - finale of the golden jubilee celebration of Archbishop Vining Memorial Church Cathedral, and the thanksgiving service, in Lagos.

Falana gives Auditor General 7 days to publish findings on NNPC’s account BY ABDULWAHAB ABDULAH

AGOS LAWYER, Mr. Femi Falana, SAN, yesterday, urged the Auditor General of the Federation, AGF, to publish the periodic checks of the accounts of the Nigerian National Petroleum Corporation, NNPC, carried out by his staff to shed more light on the alleged missing money. In a response to the letter written to him from the office of the AGF on his earlier request, Falana gave him seven days to provide the information, else he would initiate legal proceedings to compel him to carry out his constitutional duties. In his new letter, Falana challenged the AGF to provide the information in view of the binding duty on the Federal

FG urged to check pilferage at airports, seaports BY DANIEL ETEGHE

stayed were usually retired to enable younger ones to take over. His words: “We must work very hard to save this party; we must work very hard to save the policy and system already entrenched. "We have been able to have very peaceful transition. Enugu State has held four local government elections and it is only few states

at both airports, and even seaports in the country. He appealed to the government to instal sophisticated scanning machines as well as Close Circuits Television cameras, CCTVs, at airports and seaports as one of the ways to check pilferage of cargo, stressing that the normal routine of Customs officers cutting through cargoes was destroying goods.

Government to promote transparency and accountability, promising that he was ready to apply for the certified true copy of the report if AGF's office was not inclined to make the report public. The lawyer, had on February 7, 2014, in the wake of the allegation by suspended Governor of the Cental Bank of Nigeria, Mallam Sanusi Lamido Sanusi’s allegation that about $49.6 billion oil money was missing from the federation account, requested for information on the missing money under the freedom of Information Act and audit of the federation account by the AGF. The Office of the Auditor General of the Federation, OAuGF, in its response to Falana's request, said that some ethics and professional threats are working against its capability to carry out the audit of NNPC's accounts.

gether and endorse one of our own and give him the authority to run for the office of governor and that person, whoever we chose when presented to the state should be accepted by our people. “So we must be careful about the choice of candidate. But sacrifices must be made. People should be ready to say I want to let this go in the interest of our party. We don’t become anything in Enugu PDP because we have money.

Vanguard, MONDAY, MARCH 10, 2014 â&#x20AC;&#x201D; 15

MILE 2 - APAPA EXPRESSWAY SHUT DOWN

Unprecedented gridlock on Mile 2 - Apapa expressway as a result of fuel tankers and other articulated trucks' illegal parking on the road, yesterday. Photo: Joe Akintola, photo editor

No exit, even for emergencies!

Other vehicles trapped for hours.

...at Berger Suya on Apapa Road

NIGERIA 2015 QUESTION CONFERENCE BY PEOPLES DAILY

Former Head of State, Gen. Abdulsalami Abubakar, flanked by Speaker, House of Representatives, Hon. Aminu Tambuwal (left), and Reprdsentative of the Chief of Army Staff, Brig. Gen. Olajide Olaleye (2right), and former Newspapers Proprietors Association of Nigeria, NPAN, Chairman, Malam Ismaila Isa (left), during the 2nd Conference on 'Nigeria: The 2015 Question,' oganised by Peoples Daily Newspapers, at Sheraton Hotels and Towers, Abuja. Photo: Abayomi Adeshida

From the left, Speaker House of Representatives, Hon. Aminu Tambuwal; Chairman of the event, General Abdulsalami Abubakar (rtd), and the Rivers State Information Commissioner, Ibim Semenitari

C M Y

Cross-section of guests

Publisher, Peoples Daily, Malam Wada Maida, welcoming guests.

16 Vanguard, MONDAY, MARCH 10, 2014 Following the successful completion of the recently revitalised Nigerian University Games (NUGA) hosted by the Obafemi Awolowo University, Ile Ife, the University of Maiduguri (UNIMAID) emerged as the surprise host of the next edition of the biannual Games, which will come up in 2016. An elated Vice Chancellor of the University, Prof Emmanuel Kucha, rhapsodised that the Games coming to the terrorism-stricken capital of Borno State will be a befitting occasion to mark the Silver Jubilee of the institution. No one would have raised an eyebrow if all was well with the city of Maiduguri, the epicentre of the Boko Haram Islamist terrorist insurgencies that have wracked the Nigerian northeast for over three years now. Even though the campaign of mass murder and destruction of property by the militants has been confined to more remote fringes of Borno, Yobe and Adamawa States, virtually no day passes without reports of fresh attacks on innocent citizens. In fact, only a couple of months ago, the daredevil insurgents struck at military facilities and the Maiduguri International Airport, wreacking havoc and

BY IJEME OMOLEGHO

ET'S think hypothetically for just a minute. What should we expect if Rev. Chris Okotie of the FRESH Party, becomes President and Commander-in-Chief of the Federal Republic of Nigeria? The same old display of inept and un-creative governance, or a departure from the status quo to world class ideologies that shape the times, and brings international discussants to ‘study’ the new and emerging Nigerian governance model? Other options that have been mentioned, who fit into this hypothesis include Governors Adams Oshiomhole and Raji Fashola, Mallam El-Rufai and Nuhu Ribadu, etc. This thought takes me back to the elections of 1979, when we had the luminous political quartet of Dr. Nnamdi Azikiwe (NPP), Chief Obafemi Awolowo (UPN), Alhaji Waziri Ibrahim (GNPP) and Mallam Aminu Kano (PRP), all of blessed memory, as actors vying for the office of the President of Nigeria on our political stage? What would have become of Project Nigeria if we had got it right at that crucial point? With hindsight, that ‘Judelex (Judicial, Legislative and Executive) coup’ as Chief Obafemi Awolowo described it after the 1979 elections, was the genesis of today’s failing Nigeria. Unfortunately, we missed that boat, which resulted in the subsequent line of BuhariIBB-Abacha-Shonekan-Abdulsallam-led governments which cocooned us in almost two decades of pariah nationhood. At that crucial juncture in our socio-political and economic evolution, we made a wrong turn, which spiraled our nation down to the abyss

UNIMAID NUGA

as next host

killing scores. Even though it is reasonable to assume that our gallant military personnel conducting anti-insurgency operations on that frontier should be able to defeat the threat before 2016, we hasten to caution that the war on terror, like all the others of its type in Afghanistan, Pakistan, Chechnya, Somalia and the Islamic Maghrib have proved difficult to completely stamp out. The case of Nigeria is further complicated by the fact that Boko Haram is operating on a desert, multinational theatre fringed by other poor

countries with porous borders, such as Niger Republic, Chad and Cameroun. We are against any decision that could risk the lives of the Nigerian youth, who may seen as juicy targets by bands of suicide attackers operating in isolated cells. Let another university in safer areas of the country be awarded the hosting rights of the 2016 Games until the northeast has been completely secured. We foresee a situation where the UNIMAID Games might be boycotted by universities and athletes if by 2016 there remains a shadow of doubt about security. Alternatively, there should be a reserve host in case the coast is not clear in UNIMAID. Everything must be done to ensure that factors that led to the collapse of the Games in the past are not allowed to present again, this time as security threats. The post-election killing of dozens of Youth Corps members after the 2011 elections in the North, and frequent night time slaughter of innocent students by the insurgents show the extreme extent that Boko Haram is ready to go. Let UNIMAID wait a little more.

OPINION Okotie and other viable options that entrenched corrupt politicking as an inherent nature of our politics. 1999 also presented the opportunity for a shift, as we all hoped for a new beginning as a nation, but again sentiment ruled over reason, and almost two decades on, with hindsight, we obviously took a wrong turn as the images of our democracy leaves little to be desired or celebrated. That was probably why Comrade Uche Chukwumerijie said in a recent Guardian Newspaper interview that, “we have not begun our journey to nationhood”. By 2015, it will again be almost two decades after the elections of 1999 like the elections of 1979 before it, and looking at the stage of obvious possible aspirants, we can safely say that we again need a shift in our political paradigm, which is vital in determining the course of our lives, both individually and as a nation. In dealing with the failing bureaucratic structures of any system, as in our politics, a shift from the norm presents the best possible option to reverse the adverse effects of wrong decisions, and create a new beginning for maximizing the potentials of the human capital and national assets, for the general good of the people. This is what a paradigm shift accomplishes. We need to reappraise our assessment of aspirants, and our stance on national issues that affect us adversely. This is why I believe in Rev. Okotie’s call for a paradigm shift. It has become a national imperative that we change our thinking. Anyone with an objective outlook, who has heard Okotie speak on national issues, or

has read his commentaries on Facebook and the national newspapers, can tell without doubt that he has a sound understanding of the problems that confront us and how they can be solved. He announced this grasp of political profundity before the 2003 elections when he appeared on the Presidential debates, where he literarily made mince meat of political stalwarts who debated with him. By 2011, his invitation to the debates was withdrawn, for obvious reasons, which subsequently led to other aspirants boycotting the debates as President Jonathan had to be interviewed alone. We would like to hear Okotie on the political rostrum speaking in a public debate or media chat on matters arising on the local and international scene. But one of his biggest challenges is that he has not been a public figure in terms of religious, social or political appearances, so people have not been able to properly appraise him, and we are generally afraid of the unknown. That is why we fear change. We seem to be more comfortable with what we are used to. Like President Clinton once said: “We vote for people we claim to hate”. The public on one hand wonders if he will not go the same way as our corrupt politicians, while the political class believes he will carry out a witch hunt of corrupt politicians when he ascends office. This is like living between a rock and a hard place. Pundits have also expressed the fear that Okotie is an unknown in the field of politics, or the corridors of power. They have asked what political pedigree equips him to handle

the nation’s problems. In an apparent response to this reasoning, he told his audience last year on the occasion of the 26th anniversary of his church that “ministry is all about service. It is probably the best nursery and training ground for leaders in any sphere of human endeavour. It is in ministry that the complex problems of humanity stare you in the face”. But how does this equip him for partisan politics and all its internal convolutions? He again said that in ministry, “ you encounter circumstances that only God could handle because of their sheer complexities and bizarre nature… financial challenges, domestic upheavals, issues of economics, ministry politics, envy, rivalries, competition, you name it! That sounds familiar to veteran politicians”. That is why he once said that the government should not ask the people to tighten their belts; rather, government should tighten its belt by reducing recurrent expenditures. Rev. Okotie has declared his intention to contest in the coming 2015 presidential election, offering us another “Paradigm Shift” option. If we miss the 2015 boat, then the 1979- 1999 abnormalty will be repeated. As mentioned earlier, there are many other viable Nigerians like Rev. Okotie, Mallams El-Rufai and Nuhu Ribadu, Governors Raji Fashola and Adams Oshiomole and several captains of industry who are out there, who can take this country to unimaginable heights on the international scene. These are the kind of men we need to power Project Nigeria. The time has come for them to emerge and take the bull by the horns. *Mr. Omolegho, a public affairs commentator, wrote from Lagos

MARCH 10, 2014

CHBO DINNER - From left: Uju Ogubunka, Registrar, Chartered Institute of Bankers of Nigeria (CIBN); Anogwi Anyanwu, Executive Director, Mainstreet Bank; Caroline Anyanwu, Executive Director, Risk Management & Control, Diamond Bank and Ben Onyido, former Director, Currency Operations, Central Bank of Nigeria (CBN) at the Committee of Heads of Bank Operations (CHBO) Annual Dinner in Lagos.

Take strong action to stem oil theft, IMF tasks FG zUrges govt to cut oil subsidy, rebuild fiscal buffers,curtail waivers, boost non-oil revenue By OMOH GABRIEL, Business Editor

HE International Monetary Fund (IMF) Executive Board, has advised the Federal Government to take strong action to address oil theft and production losses. IMF also advised the

government to strengthen Nigerian oil industry regulatory framework by passing a sound Petroleum Industry Bill with enhanced oversight and transparency provisions. It said that the framework for anti-money laundering and combating the financing of terrorism could support these efforts. IMF in its review of the Nigerian

economy in its Article IV, 2014 released weekend urged the government to also highlight the need to improve oil revenue management by completing the transition from the Excess Crude Account to the Sovereign Wealth Fund. These measures, it said, should be supported by full implementation of the Treasury Single Account and the Continues on page 18

197.00 2,963.00

17.94

+2.20 +25.00

-0.38

108.31

+0.76

102.49

+0.93

CURRENCY BUYING CENTRAL SELLING DOLLAR STERLING EURO FRANC YEN CFA WAUA

154.75 258.3706 212.967 174.8983 1.5191 0.3059 238.6622 RENMINBI 25.1859 RIYAL 41.2612 KRONA 28.5343 SDR 239.429

155.25 259.2054 213.6551 175.4634 1.524 0.3159 239.4333 25.2677 41.3945 28.6265 240.2028

155.75 260.0402 214.3432 176.0285 1.5289 0.3259 240.2044 25.2677 41.5278 28.7187 240.9764

CBN Exchange rate as at 07/03/2014 C M Y K

18 — Vanguard, MONDAY, MARCH 10, 2014

Cover Story

Entrepreneurial education revolution: An imperative for sustainable development in Nigeria: Part 2

Take strong action to stem oil theft, IMF tasks FG integrated information management systems. It said that maintaining fiscal discipline in the run up to the elections is also important.

he body also urged the Federal Government to rebuild fiscal buffers, reduce oil subsidy, curtail waivers, and boost non-oil revenue in order to ensure current progress in the country. IMF board commenting on the Nigerian economy in its Article IV consultation with the Nigerian authorities released weekend emphasized the need to rebuild fiscal buffers and to strengthen the framework further. In the report, IMF said: “Efforts should be geared towards boosting non-oil revenue by broadening the tax base, improving tax administration and curtailing exemptions, and further reducing oil subsidies. “Directors underscored that adopting a rule-based reference oil price in fiscal projections and further strengthening public financial management should help the authorities achieve their consolidation objectives. Directors commended the authorities for lowering inflation and considered the current tight monetary policy stance to be appropriate, given the risks associated with potential capital flow reversals. To better manage liquidity, they generally encouraged more reliance on open market operations to guide short-term interest C M Y K

Continued from page 17

Reform efforts should also aim at enhancing the business environment, improving productivity, boosting financial access for small and medium sized enterprises, and strengthening governance and institutional capacity

rates. “With regard to exchange rate policy, directors noted that greater exchange rate flexibility could serve as an important buffer against external shocks. Directors noted that the financial system is well capitalised with low non-performing loans and recommended continued improvements in the supervisory framework, especially with regard to increased exposure from cross border financial activities. Directors encouraged the authorities to build on the progress made in strengthening prudential policies by further enhancing the framework for anti-money laundering and combating the financing of terrorism, and implementing the remaining Financial Sector Assessment Program (FSAP). The report “ welcomed the plan to wind down the operations of the Asset Management Corporation of

Nigeria, AMCON. Directors emphasized that structural reforms remain critical to improving competitiveness and productivity, and reducing poverty and inequality. They encouraged the authorities to persevere with their Transformation Agenda with continued focus on education and health reforms, the improvement of power supply, and broadening agricultural production. “Reform efforts should also aim at enhancing the business environment, improving productivity, boosting financial access to small and medium sized enterprises, and strengthening governance and institutional capacity. The upcoming release of re-based GDP data and further improvements in statistical data collection should strengthen the basis for policy and private sector decision-making in Nigeria.

ccording to the IMF, “Executive Directors welcomed Nigeria’s continued strong macroeconomic performance, underpinned particularly by sustained high growth in the non-oil sector. Inflation has continued to decline and the reserves position is adequate. While the economic outlook remains favourable, key risks include continued lower oil revenues from oil production losses and lower oil prices, the impact from the unwinding of unconventional monetary policy in advanced economies, and domestic political and security

Continues on page 19

*From left: Jack Doan, Transaction Banking, Sales Manager, Chinese Client Standard Chartered Bank, Jiang Ping Ping, China Chamber of Commerce in Nigeria, Remi Oni, Executive Director, Client Coverage, Standard Chartered Bank and Peng Gen Fang, Chief Finance Controller, CCECC Nigeria Limited during the 2014 The Chines of The Horse celebration in Abuja.

igeria faces a number of challenges that can only be met if it has innovative, well-educated and entrepreneurial citizens who, whatever their walk of life, have the spirit and inquisitiveness to think in new ways, and the courage to meet and adapt to the challenges facing them. Moreover, a dynamic economy, which is innovative and able to create the jobs that are needed, will require a greater number of young people who are willing and able to become entrepreneurs, young people who will launch and successfully develop their own commercial or social ventures, or who will become innovators in the wider organisations in which they work. Because education is the key to shaping young people’s attitudes, skills

The global arena is blind to your credentials but is a wealthcreating slave to your skills and abilities

and culture, it is vital that entrepreneurship education is addressed from an early age. Entrepreneurship education is essential not only to shape the mindsets of young people but also to provide the skills and knowledge that are central to developing an entrepreneurial culture. It is important we embrace this ‘global age’ paradigm in our education system as it has been done in China, India, Australia, Europe, U.S.A and of late, the Asian tigers (Malaysia, Singapore, Taiwan and the Koreas).The most advanced form of this new model is what is referred to as ‘TEACHERPRENEUR’ which Bill Gates was referring to in 2010 when he said ‘five years from now on the web, you will be able to find the best lectures in the world and it will be better than any single university.’ This involves embedding entrepreneurial education into education and training right

from the primary school to secondary school and tertiary institution. The essence of this is because education is key to shaping young people’s attitudes, skills and culture, it is vital that entrepreneurial education is addressed from an early age, besides, age is no barrier to entrepreneurship as Tony Hsieh of Zappos started selling worms from raw mud when he was nine years old, Steve Job, Richard Branson and Mark Zuckerberg of the Facebook fame all started off as young entrepreneurs. The time is ripe for us as a country to stop celebrating mere certificates and dormancy, while primacy and recognition should be given to creativity, skills and enterprising spirit. It has been shown over time that the global arena is blind to your credentials but is a wealthcreating slave to your skills and abilities. Anyway, it is not your credentials that guarantees success in the global/ information age but rather , your problem-solving abilities, critical thinking ability that can discern ‘fact from fiction’, your ability to adapt (un-learn & relearn), your creative and innovative abilities and your life-long love of learning. If your ‘piece of paper’ failed to deliver these then whilst it may have successfully prepared you for the industrialised 20th Century economy, it has certainly failed you in the globalized 21st Century.

s Alvin Toffler puts it, ‘The illiterates of the 21st Century will not be those who cannot read and write, but those who cannot learn unlearn and re-learn.’ It is the acceptance of this open secret that should make policymakers and the general populace to shift attention from the conventional way of thinking that you must be a graduate before achieving success. Some of the inventors such as Bill Gates and Mark Zuckerberg dropped out of school to make it in life because of their innovative, creative and enterprising spirit and not necessarily because of certificate.

Vanguard, MONDAY, MARCH 10, 2014 — 19

he decision of the Lagos State governor, Babatunde Fashola, to sue the Federal Government over what he described as illegal deduction of one per cent from statutory allocation to states in the federation, may not be a surprise to many Nigerians. Some, especially those who have sympathy for the PDP, will see it as an action instituted by opposition. In as much as the opposition has been firing some salvo at the Federal Government at the slightest opportunity, the disclosure by Governor Fashola that the nation’s economic council has not met for once in the last six months and that one per cent of allocation to states is being deducted, should give cause for worry to those who understand the precarious situation the nation’s economy borrow to keep the government states from the shackles of oil. is in. Before the discovery of oil, The governor, while going. On October 7, last year, this regions in the country had presenting the nation’s grim financial standing before column in an article entitled: their economies. They members of the State House of Nigeria will survive without survived based on primary Assembly in Lagos said the oil, warned the nation of the produce from the various decline in revenue was also consequences of over- regions. Nigeria will survive credited to decline in oil dependence on oil revenue. without oil. All that is required production, which was “In the last three months, local is for people to think. It is a adduced to pipeline governments, states and sad story that the committee is vandalism and crude oil theft Federal Government officials not querying the Federal and that the debate on have been at each other's Government for not investing accounting on crude oil is out necks over shortfalls in wisely; it is not asking for there. Fashola lamented that revenue allocation from the since October last year, the federation account. The war of Federal Government has been words is as a result of panic deducting one per cent from by state governments that they states’ statutory allocations may not be able to meet their which was said to be for Police obligations to their workers if reforms, describing it as allocations from the federation unconstitutional and vowed to account continues to dwindle. The current panic stems from challenge it in court. Nigerians who are the fact that if the revenue conversant with trends in the shortfall from the federation country, will recall that for the allocation committee to states first time in almost 15 years of falls below some levels, it will the nation’s democratic result in many of the states not experience, the country being able to pay their recorded some walkouts employees. “On two occasions now, staged by commissioners of finance during meetings of the members of the committee Federal Accounts Allocation from states have walked out on Committee in Abuja. The first the Minister of State for one happened in 2011, while Finance over the amount due the country witnessed more of for sharing. It is a shame that such walkouts in 2013 due to the committee members are not investment in the several irreconcilable accounts of the seeing the opportunity the minerals that dot the country, federation. Some states have shortfall is offering them to they are simply bickering over had, in the recent past, to think and act to remove their sharing.

Who is afraid of National Economic Council meeting?

It is a shame that the committee members are not seeing the opportunity that the shortfall is offering them to think and act to remove their states from the shackles of oil

“It is the sharing of cheap oil money that makes Nigerian politicians dummies, men and women who cannot think. They only wait to share. It is sharing that makes ministers come to office and leave without making any impact on the economy. It is the same for presidents and governors who preside over a sharing formula and nothing else. Over the years, they just become political birds of passage.

t is the sharing of oil money that is tearing the PDP apart. It is sharing that has caused the sharp division in the country — North vs South. If there was no oil revenue to share at the centre, the fight over the zone to produce the next president will not be a door-die affair. It is a shame that in the Nigerian political equation as of today, none is thinking about how to make a bigger cake for all to share. “While the bickering over sharing is on by clueless politicians and their coexploiters, it is important for the federal, state and local government functionaries to put on their thinking cap to fashion out how to generate internal revenue to sustain

their operations. It will be foolhardy for the government at all levels to continue to rely and plan on proceeds from oil sales. For a very long time, the signals are showing the simple fact that this economy cannot continue to run on crude oil sales. Many of the states whose commissioners of finance gather in Abuja to share from the federation account cannot generate up to N200 million per annum. Local governments are worse; some cannot generate even a million naira a year. Yet, all gather in Abuja to share oil money.” The challenge now is that whilst this revenue decline has gone up, the nation has been unable to hold the National Economic Council, NEC, meeting in Abuja. In the recent past, the meetings had held every month. The meeting has not been held now for at least six months in spite of clear revenue declines. The National Economic Council is an organ for the discussion of economic issues concerning the 36 states of the country and comprises governors, the Governor of the Central Bank, the ministers of National Planning, Finance and others. The question is; what is the Federal Government afraid of for not allowing the economic council to hold its meeting? Is this government afraid of being asked to give account of the operations of NNPC? In fact, what about NIMASA, NPA, Customs and FIRS? All must render proper account to Nigerians. There is no escape route for this government.

Cover Continued from page 17 uncertainties. “Directors underscored that steadfast implementation of prudent macroeconomic policies and reforms will be essential to addressing the risks and vulnerabilities, generating more inclusive and balanced growth, and reducing unemployment. “Directors welcomed the authorities’ continued commitment to fiscal consolidation and noted the improvements made to the fiscal framework. However, to ensure macroeconomic stability, they emphasized the need to rebuild fiscal buffers and to strengthen the

Take strong action to stem oil theft, IMF tasks FG framework further. “Directors commended the authorities for lowering inflation and considered the current tight monetary policy stance to be appropriate, given the risks associated with potential capital flow reversals.

o better manage liquidity, they generally encouraged more reliance on open market operations to guide short-term interest rates. With regard to exchange rate policy, Directors noted that greater exchange rate flexibility could serve as an

important buffer against external shocks. Directors noted that the financial system is well capitalized with low non-performing loans. “They recommended continued improvements in the supervisory framework, especially with regard to increased exposure from cross border financial activities. Directors encouraged the authorities to build on the progress made in strengthening prudential policies, including further enhancing the framework for anti-money laundering and combating the financing of

terrorism, and implementing the remaining Financial Sector Assessment Program (FSAP) recommendations. “They welcomed the plan to wind down the operations of the Asset Management Corporation of Nigeria. Directors emphasized that structural reforms remain critical to improving competitiveness and productivity, and reducing poverty and inequality. They encouraged the authorities to persevere with their Transformation Agenda with continued focus on education and health reforms, the

improvement of power supply, and broadening agricultural production. Reform efforts should also aim at enhancing the business environment, improving productivity, boosting financial access to small and medim sized enterprises, and strengthening governance and institutional capacity. The upcoming release of re-based GDP data and further improvements in statistical data collection should strengthen the basis for policy and private sector decisionmaking in Nigeria.”

C M Y K

20 — Vanguard, MONDAY, MARCH 10, 2014

Business & Economy

Agric attracts $9bn investments — ADESINA American household wealth up $10trn in 2013

he boom in the stock market and the recovery in house prices led to a nearly $10 trillion increase last year in the net worth of American households, according to data released Thursday. The net worth of American households grew last year by $9.8 trillion, or 14 percent, to $80.66 trillion, according to the Federal Reserve. That includes a nearly $3 trillion jump in the fourth quarter alone. Most of the gains in net worth, $5.6 trillion, came through the stock market, as the S&P 500 climbed nearly 30 percent, and $2.3 trillion came in the value of real estate as home prices rose. U.S. home prices grew over 13 percent last year, according to the Case-Shiller 20-city composite index. Those gains aren’t, of course, shared equally by Americans. A recent study from Ohio State said that the mean net worth of American households in mid-2013 was still 14 percent below the prerecession peak in 2006.

AfDB to spend $930m in Kenya in 5 years

he Africa Development Bank Group (AfDB) has approved injection of $930 million into Kenya’s economy for infrastructure development and enhance job creation for the next five years. Gabriel Negatu, Regional Director for the AfDB’s Eastern Africa Resource Centre, said on Thursday in Nairobi that the Country Strategy Paper (CSP), which was approved by the board articulates the bank’s priority areas of support to Kenya from 2014-2018. He said the CSP supports the country ’s ambitions and addresses its main developmental challenges by promoting job creation as the overarching objective. “To achieve our main objective, we have designed the CSP around two main pillars, we will continue to support the government’s effort to enhance physical infrastructure to unleash inclusive growth and secondly, develop skills for the emerging labor market for Kenya’s transforming economy,” he said. Negatu said it would also explore ways of restructuring poorly performing operations in the portfolio or cancelling them, and redeploying freed-up resources

C M Y K

BY EMMA UJAH, ABUJA BUREAU CHIEF

igeria’s agricultural s e c t o r attracted $9 billion investments from local and foreign business groups in the last two years. Dr. Akinwumi Adesina, Minister of Agriculture and Rural Development, disclosed this at a chat with media executives in Abuja, on the newly established Executive Leadership of Nigerian Agribusiness Group. “We have received a total of over $4 billion in executed Letters of Intent (LOIs) for investments by 30 private sector agribusinesses. We have established relationships with over 150 agribusinesses in Nigeria. “Local fertilizer manufacturing and blending capacity has significantly expanded, with $5 billion in new investments. To fix the storage segment for all value chains, the Ministry of Agriculture and Rural Development attracted Blumberg, one of the largest manufacturers of warehouses in the world, to commit to using Nigeria as the regional hub for manufacturing warehouses in West Africa,” he said. The minister explained that the President Goodluck Jonathan administration’s resolve to make agriculture a source of wealth for Nigerian farmers and all those involved in the industry, was total and would be pursued to a logical conclusion. “We have been very clear from the beginning that agriculture will not be treated any longer as a development programme, but as a business. We will no longer manage poverty with agriculture. We will use agriculture to create the future millionaires and billionaires of Nigeria. We are determined to change the fortunes of our farmers, for the poverty we see today must give way to wealth all across our rural areas, as we make agriculture a business that helps to lift millions of farmers out of poverty. “Farmers are the largest private sector in this country. Everything from the farm, to the storage,

processing, to the value addition up to the market, must work to create market for our farmers”, he said. Dr Adesina added that the establishment of the Agribusiness Group was a demonstration of the Federal Government’s drive not only to turn around agriculture into a business, but also build institutions to sustain the significant gains being achieved in the agricultural sector under the leadership

of President Goodluck Jonathan. Our approach was deliberate: grow the agriculture sector using private sector to drive the growth, focus on value chains for all commodities, and connect farms to mills, aggregators, storage, improved logistics, processors and value addition. The minister said curbing the corrupt system of rentseeking, especially in the

purchase and distribution of fertilizer in the ministry was a blow to the old order and that everything must be done to sustain the new order. “The old corrupt system of direct government procurement and distribution of fertilizers was scrapped. Private sector seed and fertilizer companies now sell farm inputs directly to farmers, instead of to the government,” he said.

DRAWS: From left, Head of Marketing, Nutricima Limited, Mrs Wande Oluwasegunfunmi; Assistant Director/Coordinator, Lagos Zonal Office of National Lottery Regulatory Commission, Mr. Fidelis Ajibogun; Assistant Manager, Legal, Lagos State Lotteries, Gbemi Ajibose; e-raffle draw presenter, Ifedayo Olarinde; Category Marketing Manager (Standard Milk) and Director, Regulation & Monitoring, National Lottery Regulatory Commission, Prince Emmanuel Jeminiwa, at the first e-raffle draw of Nutricima Mega Cash Consumer Promo held in Lagos.

Dropped calls, unsolicited messages: CPC, telecom operators’ meeting stalled BY FAVOUR NNABUGWU

he meeting scheduled by the Consumers Protection Council, CPC with telecommunication companies over public outcry on poor service delivery to consumers, was stalled as some operators shunned the meeting. CPC had summoned chief executives of all telecom operators to a meeting to address subscribers’ complaints of poor services, compensation to the complainants as well as provision of quality services. The meeting neither reached identifiable conclusion nor practically addressed issues bordering on drop calls and unsolicited messages among others. Director-General of the Council, Mrs Dupe Atoki, after a brief meeting with the representatives of some of the telecom operators told

journalists the duo would have to reconvene the meeting. Atoki said Nigerians are faced with poor network service delivery. Among other things, she said this makes it impossible to receive calls while also experiencing drop calls, lack of sustainability of calls, unsolicited text messages at odd hours, unsolicited telemarketing, deceptive broadband speed adverts and failure to compensate consumers for poor services. Atoki said operators risk prosecution and jail terms of up to five years if investigations currently ongoing reveal that they deliberately short-change Nigerians. “CPC can make orders in the interest and protection of consumers and disobedience is also criminalised by law. While NCC can impose fines on an offending operator, CPC can in addition, commit

such recalcitrant offenders to jail terms for contravening any consumer protection enactment,” she said. It is common knowledge that the operators are practically ripping off Nigerians. As far as their services are concerned, Nigerians have been largely short-changed. The last 18 months, in particular, have witnessed the worst service regime. Making or receiving calls is a most frustrating experience. And the other services using broadband are not better. There is little v a l u e f o r m o n e y. S a d l y enough, there is no effective channel of complaints and getting redress. She reiterated that the CPC has the power to sanction, prosecute and compel any product or service provider to answer a lawful inquiry, of which disobedience is criminalised.

Vanguard, MONDAY, MARCH 10, 2014 — 21

Business & Economy

onsumer behaviour in Nigeria has revealed some interesting unique traits about the most lucrative market in Africa, a research by Nielsen, world’s leading market research company, has shown. Country Manager, Nielsen, Mr. Harshvardan Sarda, while sharing some of these market insights to clients during ‘Nielsen Client Insight Event 2014’ in Lagos, said that a typical Nigerian consumer would want to stand out and keep with the trend just as he expects the products he is willing to buy to be fairly common and available. According to him, Nigerians go after affordable and available products. But beyond availability of products, Sarda said there is a whole lot more that is unique to Nigerian consumers: “They want products that are made for them. They don’t want something that is being adapted from somewhere else. Nigerians like products which are unique to them and which meet their needs but at the same time must be products with good quality, value, fashionable and trendy.” Sarda added that forty percent of Nigerians spend their income on consumer goods, which makes it possible for growth for brands even as he revealed that the 50 percent of the Nigerian population which are youth

Anchor Insurance declares 2.5k dividend per share

OBAFEMI AWOLOWO U-10: From left, Mr Stephen Kola-Balogun, Commissioner for Youth Development, Osun State; Mr Benson Evbuomwan, Executive Director, Marketing, Honeywell Flour Mills PLC; Dr Mrs Tokunbo Awolowo Dosunmu, Executive Director, Obafemi Awolowo Foundation and Senator Bode Olajumoke at the first U-10 Obafemi Awolowo Memorial Kids Cup 2014 sponsored by Honeywell Flours in Lagos on Thursday. Photo Lamidi Bamidele.

Nigerian consumers have appetite for unique, quality products —Research positions Nigeria as a country with high possibilities for trying new products. The youth population, according to him, is educated, mobile and any serious brand targeting the youth should have presence on the social media to connect with the youth. Alisa Wingfield, Executive Director, Marketing & Communication, Africa and Middle East, Nielsen explained the purpose of the get together with clients and said: “There is more to

achieving success and you can do that by showing insight of what consumers want. Most of what is more important for us as a business is understanding what consumers want and meeting their needs. We have done concept testing of products in the Nigeria market and those that have been successful; we want to share those insights with our clients as to how to launch successful products that meet the needs of the Nigerian consumer. “Also to share some information, we have done a

Security takes center stage at Securex West Africa exhibition By NKIRUKA NNOROM

atest security initiatives, trends, challenges and emerging technologies will be the focal point of the forthcoming West Africa exhibition, billed to take place in Lagos. The exhibition will bring together leading commercial, homeland and cyber security, fire protection and safety suppliers and is targeted at delivering strategic technologies, training and intelligence solutions to the market. Evaluating existing counter terrorism policies, understanding new domain threats posed by regionally active militant organisations, cyber security, training security forces, strategic approaches to emerging threats and accessing gaps in existing commercial and homeland security infrastructure, implementing

effective resilience measures to mitigate potential crisis and more will be covered at the trade show taking place 18 – 19 March 2014 in Lagos. Speaking on the Securex exhibition, Mr Fola ArthurWorrey, CEO of Lagos State Security Trust Fund, said: “In these times of increasing concerns surrounding national and internal security, not just in Nigeria but indeed across the globe, security exhibitions such as Securex are critical in interrogating current security challenges and then designing appropriate national, subnational and private sector responses to them; and, more particularly, in driving specialisation across the broad spectrum of possible responses both human and technological. Mr. Sean McCarthy, Regional Sales Manager in the Exports Division at Elvey Security Technologies, South Africa, said: “For our

company, the greatest value we generate from exhibiting at a show like this, is the exposure we get to an expanded installer market as well as business leaders from various other sectors, such as the banking industry, for example.” The Securex West Africa trade show is being organised by Montgomery West Africa and sponsored by HIK Vision, Halogen Security, Kontz Engineering and Rapid Vigil; supported by the United Kingdom Trade and Investment, Association of Industrial Security and Safety Operators of Nigeria, Nigerian Institute for Industrial Security, Institute of Safety Professional of Nigeria, International Institute of Professional Security, Lagos State Safety Commission, World Trade Center of Nigeria, International Institute of Risk and Safety Management and Occupational Safety.

census in Nigeria, we have enumerated some retail outlets in Nigeria and have covered over half a million outlets. So it is about saying that when you have a really great product, how do you get it to the consumer and make sure that you are in the right place to reach these consumers. Again, we have used this information which we got from over 500,000 stores which are the key stores to be able to identify greatest impact in terms of reaching consumers and sales consumer brand in Nigeria”. On how to compare consumer behaviour in Nigeria and other developing markets, Wingfield said that markets across Africa are not comparable to one another because they are so diverse and cuts across 54 different countries, adding, ‘by no means can we assume that consumer needs in one country are the same as the other.’ According to her, “the first thing we know is that instead of trying to group similar consumers we know, we need to look out for the diversity and some of the keys to success is understanding consumers in different places. To make it a little bit easier, we have looked at consumer segmentation in 15 countries in Africa, trying to identify similar traits, life styles and behaviour to be able to help our clients tap into these consumer groups.”

Akwa Ibom owned Anchor Insurance Ltd has declared a dividend of N2.5k per share for shareholders for the year ended December 31, 2012. This is an increase of 25 per cent over the dividend paid in the previous year. Its Chairman, Board of Directors, Mr Senas Ukpanah, made the declaration during the rd company ’s 23 Annual General Meeting on Thursday in Uyo. Ukpanah said that the increase in dividend payment was in fulfillment of the promise made earlier by the board to its shareholders. He said that the board and management would work hard to remain profitable and make the company a rewarding institution to investors. ”I am indeed pleased to inform you that the board of directors is recommending a dividend of N2.5K per share, being an increase of 25 per cent dividend. This is an indication that the board kept to the promise made at this gathering last year to improve on the dividend payment,” he said.

Senate committee expresses concern over decline in FCT budget The Senate Committee on the FCT has expressed concerns over the dwindling budgetary allocation to the Federal Capital Territory Administration (FCTA). The committee made the observation when the Minister of the Federal Capital Territory (FCT), Sen. Bala Mohammed defended the 2014 budget estimates of the FCTA. The Chairman of the Committee, Sen. Smart Adeyemi, said that while the demands for infrastructure in the FCT increases, the budgetary allocations had continued to decline over the years. Adeyemi said considering the continued reduction in the budget of FCT, the Authority might not be able to deliver on its mandate of providing the needed infrastructure for the FCT and satellite towns.

C M Y K

22 — Vanguard, MONDAY, MARCH 10, 2014

Banking & Finance

ccion Microfinance Bank has once again demonstrated its commitment to financial inclusion as it opens its 21st branch at Ajah within the Lagos metropolis. The opening of the new branch further enhances the bank’s mission to provide sustainable, profitable and ethical financial services with a bid to economically empower microentrepreneurs and low income earners in the country. Declaring the Ajah Branch open, Accion Microfinance Bank Managing Director, Bunmi Lawson said, “We have consistently grown our customer’s businesses as they have easy access to loans and our other products. Accion Microfinance Bank is safe and secure, and we will continue to serve our customers to give them a brighter future. This is the value we bring to the Ajah community”. With Accion Microfinance Bank formally declared open for business, several guests at the opening ceremony took the opportunity to open accounts with the bank. Officers of the bank were also on hand to introduce the bank’s products and services.

Awodein retires from Skye Bank Board

non- Executive Director of Skye Bank Plc, Mr. Kola Awodein (SAN), has retired from the board of the bank with effect from February 18, 2014. A statement issued by the Financial Institution said the Board and management of the Bank thanked the legal luminary for 12 years of meritorious service and wished him success in his future endeavors. Mr. Awodein is a Senior Advocate of Nigeria. A graduate of the University of Ife (Now Obafemi Awolowo University) and an alumnus of the Harvard Business School he started his legal career at Olajide Oyewole & Co and later established his own law practice. He has played a significant role in several big ticket transactions and has been awarded several prizes and awards in recognition of his contribution . In addition to holding several appointments, he is also a very active member of the Nigerian Bar Association. Awodein is well known for his publications and editorials. C M Y K

By BABAJIDE KOMOLAFE WADA Zakari’s countenance does not reflect the burden of the enormous responsibilities he carries as the Chairman of the State Universal Basic Education Board, Kano (Kano SUBEB). He is responsible for the payment of the salaries of over 60,000 staff of the Board. “It used to be a very herculean task with lot of challenges”, he said. Addressing a conference on electronic payment in Accra, Ghana, he explained why the Board abandoned manual payment of salaries for electronic payment. “We used to pay manually with payment vouchers (PVs) prepared manually by account clerks. But there were numerous challenges. These include delay in the preparation of payment vouchers, delay in salary disbursement due to late submission of PVs by local government education authorities (LGEAs) as well as the time consuming task of signing lots of cheques. In addition to these were, rampant complaints by staff on irregularities/ inconsistence of their monthly salaries, and risks of moving cash from banks to LGEAs, schools and individuals," he said. Switching to electronic payment did not only eliminate these problems, it made it possible for Zakari to pay the salaries of over 61,000 staff with the click of a button and from anywhere in the world. “We now do end-to-end payment from the Board’s electronic payment software to the accounts of beneficiaries in

their banks. No more delays from writing cheques, and it has helped us to reduce cases of corruption," he said, adding, “that is why I can attend this conference at the end of the month, without worrying how to pay salaries of my staff. Similar testimony was shared by Olabode Ajigbolamu, Director, Central Pay Office of the Accountant General, Ondo State. He spoke on the movement of Ondo state from manual to electronic payment through a project called Firstpay Payroll, Biometrics and e-Payment. He said the project, which was a partnership between Firstbank and Ondo State government,

Accion MfB opens 21st branch at Ajah

Cashless Policy: The Remita e-payment proposition to economy multifunctional electronic payment platform called Remita. “What Remita does is to promote payment electronically, paperless, said John Obaro, Chief Executive Officer of SystemSpecs Limited, the Nigerian company that developed Remita. He spoke to Vanguard at the sidelines of the conference, titled, Winning Big with Epayment, organised by Systemspec. “Our objective is that we do not want to see cash; we don’t want to see cheques. We believe these things can be done in an electronic manner both from a corporate

Our objective is that we do not want to see cash; we don’t want to see cheques, we believe these things can be done in an electronic manner both from a corporate perspective where you have joint signatories and from an individual perspective

has helped the state to achieve many things including: Biometric data capture for all workgroups; Live run of payroll, e-payment, and biometrics for all workgroup; Direct and timely salary remittance to staff bank accounts; and Direct delivery of staff payslips and payment alerts to their email and cell phones. The ease and comfort of paying thousands of people at the click of a button was not just made possible by switching to electronic payment, but by a

perspective where you have joint signatories and from an individual perceptive," he said. Remita, which is the Greek word for ‘remittance’ was a child of necessity. It was necessitated by the need of corporate organizations for a comprehensive purpose-built one-stop corporate e-payment solution. “The needs of these corporates keep changing,” he told the gathering of e-payment experts from Central Bank of Nigeria, Nigeria Interbank Settlement System (NIBSS) and Nigerian banks. “ First

COMMISSIONING: From left Mr Edgar Dominguez, Branch Manager, Texas Office, Hont Gllobal Services; Mr Humphrey Okonkwo, MD and Mrs Chinwe Okonkwo, Director at the press conference and commissioning of Nigeria office of Hont Global services, a logistic services company based in Hoston, USA. Photo by Lamidi Bamidele

they ask for salary payment, then after discovering their problems have not disappeared they ask for payroll processing solution, then biometrics, then human resources, while the customer continues to send manual schedules to PFAs, HMO etc, and process tax remittances manually. They want a robust e-Payment solution that can help make vendor/third party payment. They also want a collection solution with automated direct debit capability. They want something that integrates with their in-house solutions especially as they become more IT aware," he said. Efforts by SystemSpecs to respond to these needs led to the creation of Remita in 2005. Though initially developed to help corporate bodies post payroll payments electronically, Remita has moved beyond just e-Payment to an integrated one-stop solution – Biometrics, Payroll Preparation, e-Payment and eCollections for Corporates and Individuals. Thus Remita can be used to deliver funds of customers to their nominated accounts in any financial institution or purse, and “collect” funds on behalf of customers from designated accounts or tellers in any bank. This can be via standing orders, direct debit or direct credit. It can also be used for payroll preparation and processing, electronic delivery of schedules to third parties, as well as delivery of customers’ electronic schedules to relevant bodies such as pension fund administrators (PFAs), pension fund custodians (PFCs), tax offices and cooperatives. Though originally developed to meet e-payment needs of organizations, it can also be used by individuals. According to Deremi Atanda, Executive Director, SystemSpecs, with Remita, individuals can make payments to beneficiary accounts in their bank or any other bank from the comfort of their home or office. They can issue one or several cheques at a time. In addition, they can issue standing orders on a oneoff basis for the payment of their tithes, offerings, and monthly premiums, and annual subscriptions, regular and steady transfers to their parents, children, other dependents or charity organizations. Remita Personal keeps a comprehensive view of your transactions and standing orders across all banks.

Vanguard, MONDAY, MARCH 10, 2014 — 23

Banking & Finance

CBN, IFC partner to promote sustainable banking By JONAH NWOKPOKU

THE Central Bank of Nigeria, CBN and International Finance Corporation, IFC has entered into partnership to drive the implementation of the sustainable banking principles in Nigeria. CBN said the part-

nership is a demonstration of the strength of the sustainability agenda in the country. Speaking at an international sustainable banking forum organized by the two finance bodies in Lagos, Acting governor of CBN, Dr. Sarah Alade, said the partnership is an approach to driving socially re-

sponsible and sustainable banking. Represented by the Deputy Governor, Operations, CBN, Dr. Kingsley Moghalu, she said in a keynote address, that the forum was to upscale knowledge in emerging markets by meeting the needs of today without compromising the opportunities

of tomorrow through sustainable banking. According to her, “In the 21st century, being sustainable is no longer an option but a prerequisite for sustainable business.” She explained that the nine principles to ensure sustainable banking in Nigeria have been adopted. “The CBN has is-

sued circulars for implementation of these principles. The structures to institutionalize the principles have also been put in place. The CBN is also building capacities to strengthen competencies since it is an emerging sector,” she said. She further explained that, “After the 2007 global financial crisis, the issue of sustainability has become so crucial because we saw the shortsightedness of just focusing exclusively on profit. The crisis rose as a result of financialisation, people making money from finance in finance, but neglected the people, the sustainability, the economic development and real sector development? That is why sustainability is very important and that is why CBN is spearheading it and we are very proud that the CBN is leading the way in the financial sector. Sustainability is the future.” Earlier in a welcome address, the CBN

Deputy Governor, Corporate services, Suleiman Barau said the forum sought to offer innovative and sustainable development solutions to the banking industry as the forum provided opportunity to share knowledge and technical expertise required to drive sustainable banking. On his part, IFC Country Manager for Nigeria, Solomon Quaynor said that IFC has been committed to sustainable banking for 25 years and in Nigeria, it is contributing in that direction through the provision of gasbased power plants since they are more efficient and environmentally friendly. He disclosed IFC is about to close 450MW Integrated Power Project, IPP deal and has also advanced on its gas project. According to him,, “Sustainability is central to inclusive economic growth and aligns with IFC’s strategy for long term economic development.”

Keystone Bank promotes 627 staff EYSTONE Bank K has announced the promotion of 627

members of staff between the Executive Trainee and Deputy Manger grade. The promotion exercise according to the Managing Director/ CEO, Mr. Philip Ikeazor, is “in line with Management’s commitment to recognize merit and reward. It is also a major stride in the spirit of fostering and building a high performance and engaged workforce, delivering convenient and reliable banking services to our esteemed customers.

Criteria for promotion were based on performance assessment score, promotion readiness, tenure on current grade and absence of disciplinary actions. While congratulating the staff, the Keystone Bank boss admonished them to be spurred to “higher performance and exhibit a more passionate approach towards contributing to and achieving the Bank’s customer centric goals.” Keystone Bank is a technology and service-driven bank with over 200 business offices in Nigeria. C M Y K

24 — Vanguard, MONDAY, MARCH 10, 2014

Corporate Finance

BY PETER EGWUATU

otus Capital, a company listed on the Nigerian Stock Exchange, NSE has won the prestigious 2013 Islamic Finance News, IFN African Deal of the Year Category as the Lead Issuing House for the N11.4billion Osun State Sukuk issue which was listed on the NSE in September 2013. This was the first ever subsovereign Sukuk in Africa. The issue was oversubscribed by about 20 per cent which was a positive confirmation of the trust and confidence the market placed on the offer. The Osun State Government, represented by the Honourable Commissioner of Finance, and the Solicitors to the Issue, Kola Awodein and Co, were also award recipients for the deal. According to a statement from the NSE, “Close to 400 transactions were nominated for 2013 in over 30 categories in the IFN Awards Deal of the Year, signifying a 33 percent rise in the number of nominations and a 20 percent increase in categories over the previous year.”

Centenary Celebration: FG offers N100m lottery to reward Nigerians

s part of Nigeria 100 years celebration, the Federal Government has announced a partnership with a lottery firm, Secured Electronic Technology Plc, to organise a N100 million grand prize centenary lottery promotion to reward Nigerians for their loyalty to the country. The announcement was made in Lagos by the Secretary to the Government of the Federation (SGF), Pius Anyim at a press conference to make public the modalities for the Nigerian Centenary Lottery. According to the SGF, who was represented at the event by his Special Assistant on Media, Sam Onwuobasi, is initiated by the government as a poverty alleviating and wealth creating program. Anyim who expressed the support of the Federal Government for the project also noted that the project was purely private sector – driven.

takeholders in the capital market said lack of effective secondary market trading affects Africa’s domestic bond market, just as FBN Capital, a subsidiary of FBN Holdings Plc, has advised the state governments in the continent to seek liquidity status to improve the liquidity of state government bonds. It should be noted that African economies have been growing faster than their Western counterparts in recent years. This year ’s Bonds & Loans Africa event, the continent’s only PanAfrican Capital Markets conference, which took place in Cape Town on the 26th and 27th of February 2014, offered a rare platform and opportunity for local and international banks, borrowers, issuers, investors and financial service providers, investors, finance decision-makers, and stakeholders, to hear from key decision-makers across Africa, support their economies and encourage investor participation locally and internationally. With over 300 attendees from companies and institutions across Africa and Europe, FBN Capital, along with panelists from Investec Asset Management, and Bayport International Group among others, spoke on the session exploring issues regarding why a lack of secondary market trading is damaging the progress of Africa’s domestic market. The key areas where local Fund Managers can help in kick-starting development in domestic African bond markets, and what has been done so far in reforming African Pension Funds as well as discussing where they are currently investing. The event provided an opportunity for stakeholders and potential investors to meet key market players and potential business partners, and gain an insight on where the opportunities lie on the continent going forward. Speaking at the event which was co-sponsored by FBN Capital, Tairat

•Michael Oyebola, Director & Head, Asset Management, FBN Capital

Lack of secondary market trading affects Africa’s domestic bonds — OYEBOLA

Lotus wins IFN’s lead Issuing House awards on Sukuk

Nigeria are now being encouraged to seek liquidity status to improve the liquidity of state government bonds as banks will be able to invest in these instruments and put it towards their liquidity ratio calculations. In addition, she noted that Nigeria’s Federal Government, in 2010, granted a tax waiver for 10 years on bonds, a move which improved the yield on all State government and corporate bond issues and could potentially reduce the cost if issue”. Also speaking at the forum, the Director General, Debt Management Office, DMO, Mr.Abraham Nwankwo, stated that “A useful indication of the appetite of foreign investors for Nigeria is the response to the 2013 Eurobonds issuances which

The Federal Government, in 2010, granted a tax waiver for 10 years on bonds, a move which improves the yield on all State Government and corporate bonds

Tijani, Head of Debt Capital Markets of the firm said during the panel which explored the evolution of the local bond markets in Africa, “In terms of liquidity, we see a lot of activity in sovereign bonds.

Whilst we have seen some sub sovereign issues, these instruments have not been as liquid as the bonds issued by the Federal Government”. Tairat further stated that state governments in

saw the subscription of about 191 reputable Fund Managers and investors in the July issuance”. He said Nigeria has a strong resource base and urged that the financial markets focus on the big picture and not react to small events.” FBN Capital Limited is a full service Investment Bank and Asset Management Company, and a subsidiary of FBN Holdings Plc, one of the strongest and most dependable financial groups in Africa. The firm was recently recognised as Best Investment Bank in Nigeria for the third year running by Global Finance Magazine, and in 2013 was also named in the World Finance Banking Awards as the Best Investment Bank in Nigeria and the EMEA Finance African Banking Awards as the best local Investment Bank.

Arqaam Capital plans trade in African bonds, derivatives estate, aviation and other sectors, Abbott said. The firm

rqaam Capital Ltd., a D u b a i - b a s e d investment bank focusing on emerging markets, said it plans to trade African bonds and derivatives after opening a brokerage in Johannesburg in January. Arqaam became the first broker to join Johannesburg’s stock exchange in three years, pitting it against research teams from Deutsche Bank AG (DBK), Renaissance Capital Holdings Ltd., Standard Bank Group Ltd. (SBK) and JPMorgan Chase & Co. (JPM)

“We’re under no illusions that this is a tough market,” Ross Abbott, head of Arqaam in South Africa, said in an interview in Johannesburg last week. “We believe we’ll be the first Cape-to-Cairo broker. We started with cash equities and we’re looking at the bond market, derivatives and maybe asset management with an Africa fund” Abbott added. Arqaam plans to extend its coverage to the mining industry from the 49 African financial-services stocks it covers, before building research on consumer, real

plans to trade over-the-counter bonds and is focusing on countries including Kenya, Ghana, Nigeria, Morocco and Egypt, he said. RenCap, the Russian investment bank controlled by billionaire Mikhail Prokhorov, said Feb. 24 it had hired Rupert Preece to head sub-Saharan fixed-income trading as demand for African bonds increases. Last year Credit Suisse Group AG (CSGN) switched its coverage of fixed income in sub-Saharan Africa from London to Johannesburg to boost emerging market revenue.

Vanguard, MONDAY, MARCH 10, 2014 — 25

Corporate Finance

DISCOURSE: From left, Managing Partner, SIAO, Pastor Ituah Ighodalo; CEO, Prima Garnet Africa, Mr. Lolu Akinwunmi; COO/GM, Cutler Communications, Ms Laura Oloyede; and CEO, Business School Netherlands, Nigeria, Mr. Lere Baale, during a public discourse on ‘Job Creation: Harnessing Entrepreneurial Skills,’ in Lagos.

SMEs urged to leverage NASD platform for funding needs STORIES BY NKIRUKA NNOROM

mall and Medium scale Enterprises, SMES, have been urged to take advantage of the platform provided by the National Association of Security Dealers Plc, NASD, to access funds for their operations. Bola Ajomale, Managing Director/CEO, NASD, made the call at the Fidelity SME Forum, a weekly radio programme organised by Fidelity Bank Plc. Speaking on the ‘Sources of Capital for SMEs: Options and Requirements’, Ajomale explained that NASD does not provide fund but a market for those who have funds and those who are seeking funds to meet their operational needs. “If a company wants to raise money, they would approach us through an adviser and they showcase themselves as well as their funds. They can also promise their shareholders or those that invest in them that they can sell down through the market. “A private equity firm or venture capital firms actually have their own funds from managed funds that they are seeking to invest. So, we are not seeking to invest, rather we are creating a market where both existing and prospective investors and shareholders can meet and trade.” He explained that NASD is

a collection of capital market operators under the umbrella of the Securities and Exchange Commission, SEC, mandated to trade on nonlisted securities. “The whole idea was that there are a lot of securities that are not listed on the Nigerian Stock Exchange, NSE, but the investor still needs liquidity and essentially the SEC challenged the capital market industry to create an avenue where this can be traded easily. “Our platform provides an avenue through which you can at least show that you

have these shares to sell and also allows people to see what is available to buy because as some people want liquidity, other people are looking for investments to get into. We match both the investor and one who is getting out on investment together.” On how a company can qualify to take advantage of this platform, Ajomale stated that there is an eligibility criterion for every single entrant and stage, stressing that there are large and small companies already trading on the platform. “Essentially, what we do, we categorise them. You have

the blue category and the pink category which is probably younger with corporate governance issues to deal with. They probably have some finance issues to deal with. They need to have a certain amount of structure also for them to be attractive to investors. ”They must have advisers. We would encourage them even if they just haVE seven shareholders and once you have shareholders, you can register as a Plc. We would encourage them to be a public limited company because that way, they can access a wider range of funds. We do not have a number of size of the capital per say but we’ve started talking to SME companies.” Fidelity SME Forum is a deliberate attempt by the bank to resuscitate the Small and Medium – scale Enterprises (SMEs) and create a new generation of entrepreneurs with the “I can do” spirit in Nigeria. This is not only seen as the bank’s believe in SMEs as a growth catalyst but also a clear commitment to efforts aimed at revamping the Nigerian economy. The weekly radio programme, essentially seeks to empower Nigerian entrepreneurs with knowledge, know-how and expertise that will help them build successful businesses. This it does by bringing renowned entrepreneurs to the show on weekly basis to share their experiences and encourage potential and existing entrepreneurs. This is aside the other financial, legal and business advisory services the Fidelity Managed SMEs Business renders to customers

NSE facilitates capacity training for dealing clerks

ollowing the need to keep stockbrokers operating in the nation’s capital market abreast of latest technology in the market, the Nigerian Stock Exchange, NSE, said that arrangements have been concluded to carry out its Continuous Professional Development (CPD) training for dealing clerks. The programme, which is scheduled to take place at The Stock Exchange Building in Marina Lagos on March 15, 2014, will offer brokers insight into how to reach the retail market using new technology implemented with X-GEN. “The objective of the workshop is to provide practising stockbrokers with a strong grounding in the advanced functionalities of the new trading system -X-GEN, explained Mr. Ade Ewuosho, Acting Head, Market Operations, NSE. He noted that it will also provide stockbrokers with detailed understanding of the new market structure recently introduced in late 2013.

According to Ewuosho, “The broad-based programme will also provide the participants with an opportunity to hone in their existing skills as well as interact with other stockbrokers to deepen their knowledge of the new system. This will be the first CPD programme since the Exchange went live on their new platform in September 2013. Emphasis will focus on the market participants, minimum operating requirements amongst other new developments in the capital market.” Continuing education programmess benefit both businesses and workers; businesses encourage continuing education in order to sustain a highly skilled and specialised workforce –one with the skills to perform a variety of tasks or workers with “crossfunctional” skills. Dealing Clerks, on the other hand, may receive promotions, gain more power in the job market, or become more valuable employees by enrolling for continuing-education programmes, he stated.

Old Mutual set for public offering, proposes dividend Old Mutual Plc has announced intension to proceed with an initial public offering of a minority interest in its US Asset Management (USAM) business in 2014, even as the company has proposed 6.0p per share dividend for the year ended December 31, 2013. The company in a statement said the public offering, which is being undertaken to enhance USAM’s financial and operating flexibility, would be subject to prevailing market conditions. It further stated that the public offer will help the company to deploy capital to continue to grow and further develop its multi-boutique asset management business. We expect that this offering will broaden USAM’s access to capital to pursue future growth initiatives across its business, including collaborative investments in affiliate growth and further penetration of non-US markets through its global distribution platform, as well as strategic partnerships with high quality boutique asset management firms with complementary investment products, the company said.

ETI shareholders approve governance action plan Shareholders of Ecobank Transnational Incorporated, ETI, have ratified the Governance Action Plan proposed by the Board of Directors in compliance with the recommendations of the Securities & Exchange Commission, SEC. The implementation of the detailed 51 point plan, according to notice to the Nigerian Stock Exchange, NSE, will commence immediately. The bank stated that at their meeting, which was attended by institutional shareholders as well as minority shareholders, the current 12 person Board of Director was retained following the decision by the institutional shareholders of the PIC, AMCON and IFC to withdraw a motion which they had proposed to create a smaller Interim Board.

C M Y K

26 —Vanguard, MONDAY, MARCH 10, 2014

C M Y K

Vanguard, MONDAY, MARCH 10, 2014 — 27

Commodity index Feb 28-Mar 6, 2014

Micro-Finance

UPMfB disburses N886m loans in one year Stories by PROVIDENCE OBUH

muchinemere Pro-credit Micro Finance Bank (UPMFB) has disbursed total loans of N886.23 million to 4,174 active poor, in the financial year ended, December 31, 2013. Also, it gave out a total micro credit fund of N1.05 billion under loans and advances to a total of 5,288 beneficiaries pursuant to its goal of eradicating

poverty in the society and improve quality of life. In a statement, Head of the bank’s Credit Department, Mr. Odinaka Okeke, said the bank surpassed its target of N595.89 million in 2013, with the total disbursement of N1.05 billion. Okeke assured of improved performance in 2014, stating that the bank is targeting a total micro credit facilities disbursement of N1.3 billion, made up of N550 million micro loans,

From left: Mr. Yemi Cardoso, Chairman of the Board, EFInA; Ms. Salah Goss, Programme Officer, Bill & Melinda Gates Foundation; Ms. Modupe Ladipo, Chief Executive Officer, EFInA; Mr. Peter Goldstein, Vice President, InterMedia.

N500 million other loans and N240 million advances. He urged the customers to use the facilities wisely and ensure prompt payment, so as to continue to receive more from the bank. The Credit manager said the facilities were aimed at creating maximum wealth for the beneficiaries, hence he advised them to manage it with prudence and honesty. UPMFB’s Head of Finance and Accounts, Mrs. Bibbian Ofoje, said the bank recorded an unaudited total income of N372.08 million with a total unaudited profit of N121,242, in 2013, which she attributed to increase in the bank’s financial activities in the year. Chairman of the bank and a Roman Catholic Prelate, Msgr. Obiora Ike, said the bank would not relent in its effort to improve the quality of lives of the poor within the Nigerian environment through micro financing.

R Wells calls for proper place for mothers in society …holds 2014 mothers day fiesta

Wells Media and Advertising Company Limited has called for a proper place for mothers as important tools for nation building, while announcing its 2014 mothers day fiesta. The fiesta tagged: ' C e l e b r a t i n g Motherhood” is scheduled to hold in Lagos. Managing Director, R Wells Media, Mrs. Jibe Ologeh, made the call at a press briefing heralding the fiesta, stating that the fiesta is centered on mothers' world, where the new wave of the game movement is no longer acceptable to mothers. Describing mothers as very important in nation building and in the family, Ologeh cited Prof. Grace Alile Williams, saying that the hand that rocks the cradle rules the world. She said, “if mothers

are properly positioned in the scheme of things in the society, in the family and in the nation, am sure you will have less destitute children and men who beat their wife and less children who drop out of school. “This is not only to

celebrate mothers, it is also a call for mothers to be responsible and responsive to their initial role of raising the family. On mothers world, we say the new wave of the game movement is not acceptable to mothers."

IFC, Goldman Sachs launch $600m facility for female entrepreneurs

nternational Finance Corporation, IFC, in collaboration with Goldman Sachs has launched a $600 million global facility that will increase access to finance to as many as 100,000 women entrepreneurs in emerging markets. The Women Entrepreneurs Opportunity Facility is the first of its kind to be dedicated exclusively to financing women-owned small and medium businesses in developing countries. In a statement, IFC said that it will invest an initial $100 million and the Goldman Sachs Foundation will provide $32 million and manage the facility expected to mobilise up to an additional $468 million from public and private investors. “The facility is part of the World Bank’s overall strategy to promote gender equality and ensure the social and economic welfare of one-half of the world’s population. C M Y K

28 — Vanguard, MONDAY, MARCH 10, 2014

C M Y K

Vanguard, MONDAY, MARCH 10, 2014 — 29

C M Y K

30 — Vanguard, MONDAY, MARCH 10, 2014

Homes & Housing Finance d i f f e r e n t categories, only 98 met the requirements and cut-off date for submission of forms for the first draw, out of which only 31 beneficiaries e m e r g e d . According to him the remaining 169 houses from the first draw would be rolled over to the next draw for next month where both those who could not win this month and those who did not meet the requirement for the first draw will have another opportunity without having to apply again. Two hundred homes were put up for the draw but only 98 applicants were successfully pre-qualified, out of which a total of 31 homeowners were produced through the draw. Six persons won one 3-bedroom flat each while another six won one 2-bedroom flats each and two persons won one 1bedroom flats each in Shitta Scheme in Surulere; four persons won one 3-bedroom flats each in Hon Olaitan Mustapha Estate, Ijaiye, Ojokoro; ten persons won one 3-bedroom flats each in Oba Lateef Adams Estate, Iloro, Agege; two people won 3bedroom flats each in CHOIS Gardens, Abijo; while one person won a 3 bedroom flat in Alhaja Adetoun Mustapha Estate Ijaiye, Ojokoro. Some of the winners are Mrs Bukola Lawal, Mrs Nkiru Omenyi, Mr and Mrs Taiye Hassan Laaro, Mr. Olusegun Babalola , Mr Olukayode Adegboyega for the Shitta housing scheme.

•Lagos HOMS housing estate in Shogunro

Niger to build 1,000 housing units this year

iger State government has concluded arrangement to construct additional 1000 housing units in the state before the end of the year, with Suleja and Minna getting 500 housing units each. Governor Mu’azu Babangida Aliyu said the idea is to reduce housing deficit confronting the two towns in the state. The governor made this known when he hosted the management of an indigenous firm that will handle the project. He directed the ministry of lands to make available the necessary documents to the construction firm so as to commence work immediately on the sites. Aliyu admonished the company to ensure that it keeps to the terms of the agreement, adding that government will not hesitate to revoke the contract if found to be in breach of the agreement. He noted that the administration had gone into partnership with many companies to provide cheap and decent houses for the people because of its belief that if people were made to live in decent environment they will give their best to the service of the state and the nation.

Kaduna seals PPP deal on mass housing

aduna State government has signed a Memorandum of Understanding (MoU) with Trans Atlantic Integrated Development Limited for the construction of 3000 units of houses under a Public Private Partnership (PPP) mass housing scheme. Governor Muktar Ramalan Yero who attributed the widespread corruption in the country to desperate efforts by citizens to own personal houses, said with this type of development people will no longer be under pressure to own their houses. “Our administration attaches great importance to housing development in Kaduna State and government is concerned about finding ways to address the huge deficit in housing,” he said. Under the arrangement, Trans Atlantic Integrated Development Limited is to construct 3000 units of houses, while Kaduna State government provides Certificate of Occupancy for 100 hectares of land to be used for the project.

C M Y K

Lagos HOMS to become self-sustaining in 7yrs — FASHOLA Stories by YINKA KOLAWOLE

he Lagos Home O w n e r s h i p Mortgage Scheme (Lagos HOMS) will become self-sustaining in seven years if all beneficiaries of the scheme pay up their mortgages promptly. Lagos HOMS is an initiative of the state government to help residents of the state own houses in a sustainable way. Governor Babatunde Fashola stated this when the first draw to pick homeowners under the scheme was held in Lagos last week. He emphasised the need for prospective home owners under the scheme to pay their monthly mortgages regularly, pointing out that this would ensure that money is always available to build more houses and give other tax-paying Lagosians the opportunity to also benefit from the scheme. “By so doing, you will bring back a pool of money into the system that allows us and enables us to build for other people who have also paid taxes and who are waiting on the queue. If all mortgage owners who benefit from the scheme pay up their mortgages promptly, in seven years time the scheme would become self-sustaining and government would not need to commit money to the scheme. In that case the Lagos State Government will no longer need to put any more money into this scheme because of the money that will be coming out. So that is the biggest responsibility that home owners have,” he stated. Fashola also charged the beneficiaries to ensure they pay

up their maintenance charges so that the houses would not be like that of Jakande estates that the people failed to maintain. “The owners must take responsibility of paying rates and charges that come with the privilege and the right to own a home, such as maintenance charges. If you see many of the homes built by Alhaji Lateef Jakande over the last few years, government still has the responsibility to go and clean, to go and paint, to go and maintain homes that it has sold. This will not be allowed under this scheme. Home owners must take responsibility for their homes and pay maintenance charges,” he said. Meanwhile, the governor said that the second phase of the Lagos HOMS project would soon commence with the involvement of private sector

participants. He said under the second phase, the private sector would be allowed to build houses for the scheme with government being the guarantee purchaser of the houses for sale to the public under the scheme. “By so doing, we will be in the position to either double or triple the number of homes from 200 to 600 or 800 per month if we allow private sector to build. We will buy from them and put into the mortgage pool and distribute out,” he said. In his remarks, the Executive Secretary of the Lagos Mortgage Board (LMB), the board saddled with the responsibility of managing the scheme, Mr. Akinola Kodjo Sagoe, explained that a total of 200 houses were available for the draw. He, however, noted that of the 322 applicants in the

FG moves to review PPP housing projects

he Federal Government has commenced moves to review the implementation of all Public Private Partnership (PPP) projects in the housing sector. Erstwhile Supervising Minister of Lands, Housing and Urban Development, Mr. Muhammad Sada, who disclosed this in Abuja, said that the ministry has set up a task force for this purpose. He said the task force is to develop appropriate guidelines and eligibility criteria for the participation of qualified parties in the design and implementation of PPP projects in the ministry. The minister further disclosed that the move was aimed at further strengthening the PPP arrangement in the ministry for effective contributions to sustainable housing delivery in the country. He said the ministry was determined to actualise the long term development agenda in the housing and urban development, adding that it will continue to collaborate with the private sector to accomplish the task. “The ministry will also continue to collaborate with governments at

the state and local levels to actualise President Goodluck Jonathan’s aspirations for the housing sector,” he said. Sada said the housing ministry has reached an agreement with Home Builders Institute in the U.S. to train 1,000 artisans and craftsmen within the year to enhance their competence. He said the training will focus on building structures, building services and finishing. He said the ministry has also entered into an agreement with the Ministry of National Development in Singapore to build Nigeria’s institutional capacity in the housing sector. According to him, participants would be drawn from block and brick layers, plumbers, painters, carpenters, aluminum fabricators and welders, adding that the training would also include landscaping and solar energy facilities maintenance. “This is to enable us to competently address the developmental challenges of sustainable land administration, management, affordable housing and urban development on a long term basis.

Vanguard, MONDAY, MARCH 10, 2014 — 31

Insurance

Experts urge insurers to prioritize training Stories by ROSEMARY ONUOHA

here is need for the board and management of insurance companies to set aside yearly budget for training and re-training of all staff in order to boost human capacity and enhance productivity. Director General of the Chartered Insurance Institute of Nigeria, Mr. Kola Ahmed who made this assertion in Lagos, noted that the importance of regular training for insurance practitioners cannot be over emphasised. According to Ahmed, the insurance industry still needs to do more as regards training of their workforce to enhance productivity. Ahmed said that the budget for training should not be skewed towards the top echelon of insurance companies alone, but must be spread to accommodate both junior workers. This he said is necessary if the board and management expects the performance of workers to increase going forward. Meanwhile, Managing Director of FBN Life Assurance, Mr. Val Ojumah, has charged insurance operators to regularly send their staff for training in order to equip them to play effective role in the oil and gas risk business. According to Ojumah, the level of knowledge on oil and gas business by some insurance practitioners is relatively low therefore one way of ensuring that companies play actively in the oil and gas business is to demonstrate and show that employees are sent to training institutions. Ojumah noted that training of insurance personnel could

serve as key for the industry to break the myth that surrounds the oil and gas industry. Also, former Managing Director of Crystalife Assurance Plc, Mrs. Oluseyi Ifaturoti said that the success of the insurance industry is

hinged on the effective training and retraining of human capital in the industry. Ifaturoti said that training and retraining programmes must assume a different dimension with emphasis on preparing the workforce for

VISIT: President of the Nigerian Council of Registered Insurance Brokers,(NCRIB) Mr Ayodapo Shoderu (right), in a handshake with the Group Managing Director of Geepee Group of Companies, Mr. Prakash Vaswani, when the former paid a visit to the NCRIB Secretariat in Lagos. With them is the Director, Human Resources of the NCRIB, Mr Lukeman Adeleye (left) and the Council’s Director of Finance, Mrs Lola Ogedengbe.

College of insurance to kick off in June … CIIN appoints rector By GODFREY ONORIODE

he Chartered Insurance Institute of Nigeria, CIIN, said that the College of Insurance and Business Management will take-off for business by June 2014. Accordingly, the College Rector, Mrs. Yeside Abiodun Oyetayo is billed to assume

duty in April with expectation of fast-tracking the initiation of college programme in the course of the year. Director General of the Institute, Mr. Kola Ahmed, disclosed this to Journalists at a press conference held in its Secretariat in Lagos. According to Ahmed, the institute is in the final phase of completing the college. He said that the first phase

Corporate businesses advised to utilise services of brokers

higher challenges. The CIIN, according to Ifaturoti, is statutorily empowered to cater for the insurance industry educational and training needs, a function which has become more imperative in the emerging scenario.

orporate business institutions have been advised to utilise the services of insurance brokers in sustaining their business prospect. President of the Nigerian Council of Registered Insurance Brokers, Mr Ayodapo Shoderu gave the advice when the Chairman of Geepee Group of companies, Mr. Prakash Vaswani paid a courtesy visit to the NCRIB Secretariat in Lagos. According to Shoderu, the fortunes of businesses and their sustainability are determined by risk management strategies put in place by management, of which insurance is pivotal. “The extent of risk exposures by most business concerns, especially in the

changing global environment calls for proactive initiatives by business managers and this will determine their continued existence,” Shoderu noted. The NCRIB President said that insurance brokers assist their clients in maximising their insurances as they provide them with different profitable rates, in addition to their rendition of personalised services. Shoderu disclosed that public confidence in insurance brokerage services had been enhanced by the promulgation of the NCRIB Act 2003 through which the Council regulates the ethical conduct of its members and provide them with regular training exposures, to catch up with changing dynamics of the profession.

which includes the Admin/ Multipurpose block, the restaurant and three Chalets were on ground as at May 2013 while the second phase was also completed last year. He said that six additional structures has been added to the third and final phase which includes 50 bedroom (all ensuite) hall of residence, 1 storey 2,3-bedroom senior staff quarters and four units of chalet which are expected to be completed before the end of April. He said that the four buildings under constructions are 1-twin duplex rector ’s lodge and 3 additional chalets. He noted that these efforts represent an uninhibited commitment towards actualisation of the college project and ultimately launching it for full take off. On staff renumeration, the CIIN boss said that the Governing Council has approved new salary structures and promotions of three erstwhile deputy directors to full directors; they are Mr. Joseph Obah, Director/Head Corporate Affairs, Admin & HR Directorate.

Business journal holds insurance summit

he first Business Journal Insurance Summit & Exhibition 2014 is set to hold today in Lagos. The theme is: ‘Closing Insurance Awareness Gap for Business Growth.’ Mr. Prince Cookey, Publisher/ Editor-in-Chief of Business Journal, stated that the summit is to provide a platform for stakeholders in the insurance industry to brainstorm on key issues driving the immediate and future growth of the market. “It is also our desire to keep insurance on the front-burner of national discourse to create better awareness and understanding of the industry and ensure sustainable growth,” Cookey said. “As the theme suggests, we strongly believe that closing the yawning insurance awareness gap in Nigeria will lead to dramatic increase in the fortunes of the industry for the overall benefit of all stakeholders-regulators, operators and consumers.” The Business Journal publisher urged current stakeholders in the industry to seize opportunity of the summit to honestly address the challenges retarding rapid growth of the market to re-write the history of the insurance sector in Nigeria. He described the summit as the little contribution of Business Journal magazine to the development of the insurance industry in Nigeria. He promised that the summit would be an annual event to constantly evaluate the progress of the industry, identify weak spots and generate ideas to address them and move the market forward. Cookey said Mr. Fola Daniel, Commissioner for Insurance, National Insurance Commission (NAICOM) would be the Special Guest of Honour at the event to be chaired by Mr. Fatai, K. Lawal, President/Chairman of Council, Chartered Insurance Institute of Nigeria (CIIN). The Distinguished Guest Speakers include Dr. Akin Ogunbiyi, Group Managing Director/CEO, Mutual Benefits Assurance Plc; Mr. Gbolahan Olutayo, Managing Director/ CEO, Goldlink Insurance Plc; Mr. Abdul Koledoye, President/ Chairman of Council, National Institute of Marketing of Nigeria; Chief Yemi Soladoye of the Insurance Consumers Association of Nigeria; Mr. Ademayowa Adeduro, Managing Director/CEO, C M Y K

32 — Vanguard, MONDAY, MARCH 10, 2014

Okonjo-Iweala vs Sonala Olumhense: Tag teams (1) n the end it will not matter to us whether we fought with flails or reeds. It will matter to us greatly on what side we fought.” GKCHesterton1874-1936. (VANGUARD BOOK OF QUOTATIONS p 60). “The recovered amount was channeled into rural projects and programmes as per the agreement with the Swiss Government which repartriated the funds. A combined team of Nigerian and Swiss NGOs , with the World Bank, later verified the use of this money…” Paul Nwabuikwu, Special Adviser to Minister of Finance. Guardian, March 2, 2014, p 53. This is going to be war of words; but, it will be hot and relentless between the two tag teams – Okonjo-Iweala/ Nwabuikwu versus Olumhese/ Sobowale. And, it is all about YOU Nigerians. More specifically, it is all about what had happened to the Abacha loot which were recovered from abroad – how much, who received the funds and what happened to them? The first question that comes to your mind is: why team up with Olumhese? The answer is simple. For years, if I had to choose one columnist to read every Sunday, and no other, it would be Olumhese. I stopped buying Guardian on Sunday when he left. Today, March 2, 2014, I just asked for Guardian, and there was Olumhese in a battle of words with Paul Nwabuikwu, spokesman for the Finance Minister. Spokesmen are echoes, not voices; they are like microphones. They can only say out loud what someone else had said. Unfortunately, on an issue such as Abacha loot, they become part of a tag team – the Minister and the “echo.” Like Olumhese, I have had considerable data on Abacha loot which are at variance with what the Minister of Finance and her “partner” are trying to peddle to the public. So, I have invited myself to Olumhese’s corner – as his tag team partner, of course. I feel sorry for the other side already. They are lying through their teeth – all 32 of them. But, before going into specifics, permit me a little digression. All is fair in war, after all. Long-term readers of this page must remember how painful it had been for me as one respected columnist, after another, had left the fourth estate of the Realm to join the First. Suddenly, the “highly intelligent” writer dies and is replaced by someone worse than an envoy – who has been described as “an honest man [woman] sent to lie abroad for the good of his country”, by Sir Henry Wolton, 1568-1639. (BOOK OF QUOTES p 9). When our former colleagues disappear into governments, they emerge as people sent out to lie to Nigerians for the good of the government they serve. The last thing on their minds when they operate is, what is good for Nigeria? That is why some of them make statements which, if they were not in government, they would be ashamed to be associated with. The statement which was lifted from Paul Nwabuikwu’s rejoinder to Olumhese in the Guardian, titled Where Olumhese Goofed on Okonjo-Iweala, is a classic C M Y K

example of an intelligent Nigerian lending his powers to deceive Nigerians on a matter of grave importance – just because he is a spokesman for minister. Is this the same Paul we used to read with great admiration or has there been an identity theft? I wonder. For those who might not understand what the palaver is all about, let me quickly explain. First, there is a dispute about how much was repatriated. Then there is a query regarding what happened to the money. Finally, Olumhese is requesting, on behalf of Nigerians, for accountability – what happened to the money; how was it spent, can we verify the claims? To me, nothing could be more patriotic and clearer. Instead of providing answers, the Minister, through her spokesman (tag team partner), had resorted to falsification of all available records and insults. We set aside, for now, the question of how much? Rest assured that the Minister and Paul will be taught

”

Nigerian money, stolen by Abacha, was traced to Swiss banks; the Swiss Government, instead of returning our money, insisted they were going to supervise how the money was spent

a lesson they will never forget. Let us take a look at the statement made by Paul, quoted above. What Paul is saying, in the usually, tall grammar of officialdom, when out to deceive, is simple. Nigerian money, stolen by Abacha, was traced to Swiss banks. The Swiss Government, instead of returning our money, insisted they were going to supervise how the money was spent. This arrangement received the blessing of the World Bank – when Okonjo-Iweala was there. OkonjoIweala and Paul applaud this insult to our sovereignty. Nothing can be more unpatriotic. Would the Swiss Government have insulted America, Russia, or China the same way if their stolen funds find their way into corrupt Swiss banks? Here was a country which had developed itself on stolen funds from every country, as well as funds from criminal activities globally, telling a victim of its corrupt banking establishment how to spend its own money. Furthermore, Okonjo-Iweala and Paul know too well that the Nigerian constitution stipulates that any funds belonging to the country should be paid into the federation account – first and foremost. Thereafter, it would be allocated, on agreed formula, to all the three tiers of government. Since, it was not clear that the loot was taken from the Federal Government alone, even any agreement to dispense the funds between the Federal Government and any other party, including the World Bank, was unconstitutional.

Vanguard, MONDAY, MACRH 10, 2014 — 33

Aviation

Airline operators yet to pay NAMA N4bn en-route charges STORIES By LAWANI MIKAIRU

igerian Airspace Management Agency, NAMA, is yet to be paid its outstanding N4 billion debts airline operators owe the agency as enroute charges. The operators have refused to pay these charges for some years now and the charges have accumulated to more than N4 billion. NAMA last month won an appeal by the Airline Operators of Nigeria, AON,

as the Supreme Court in a unanimous judgment, dismissed the appeal by AON over the payment of enroute charges. It will be recalled that after the Supreme Court judgment, the former Managing Director of NAMA, Engineer Nnamdi Udoh had appealed to the domestic carriers to “commence the process of liquidating their respective outstanding bills of more than N4 billion on the enroute charges.” According to the General Manager, Public Affairs, NAMA, Mr Supo Atobatele,

“NAMA is statutorily empowered to charge the domestic airlines on the controversial en route services like their foreign counterparts. “The Supreme Court thereafter awarded a cost of N100,000 in favour of NAMA. NAMA on record loses an average of N500milllion accruable revenue annually following the refusal of the domestic carriers to honour bills on enroute services as they often claimed to have 'godfather ’s right' to evade payment.” NAMA had in 2006 won an

appeal by domestic airline operators over the same issue at the Appeal Court in Lagos which declared that the airlines had no cogent reason not to pay for services rendered to them by the agency. Engr. Udoh had said: ‘’From the beginning of this case in 2006, we have chosen not to disrupt the activities of the airlines, even when the Appellant Court in Lagos gave us the power to collect our charges. ‘’We were patient enough not to rock the boat and that is why we followed it up to the Apex Court with the AON and today (Friday), the panel of judges in a unanimous decision dismissed the appeal to our favour.”

Dana Air supports child education D

ana Air has extended the focus of its corporate social responsibility to child education as the airline in partnership with Bi-Courtney Aviation Services Limited (BASL) took pupils on an educational excursion of airport facilities that included having a firsthand experience of how an airplane works. The week long programme saw the airline opening its aircraft doors to over 500 pupils drawn from various schools across Lagos State. According to Samuel Ogbogoro, Media Relations Manager of Dana Air, while welcoming the pupils to the aircraft provided by Dana Air for the expedition purpose, the Chief Pilot of the airline, Captain Segun Omale expressed happiness that Dana Air is once again leading in the drive to impact on the lives of children. Captain Omale said that Dana Airline identifies with all global and local initiatives to improve the education pursuit of children. “We are a caring airline that will continue to pay serious attention to issues that concern proper education of the future generation and our commitment to take the children on this all important excursion is anchored on our firm belief that a well informed child represents hope for the future of mankind as information drives the development of any nation.”

PRESENTATION: From left, former Minister of Foreign Affairs and chairman of occasion, General Ike Nwachukwu, Mrs Nnenna Orji, wife of the author; Dr. Herbert Orji, author, and Aigboje Aig-Imoukhuede, former GMD/CEO, Access Bank Plc/chief presenter, at the official presentation of the book “Platinum Essays in the Philosophy of Applied Economics of Development” in Lagos.PHOTO BY AKEEM SALAU

Aviation stakeholders worry over Nigeria's Category-1 status A

viation experts and stakeholders have expressed fears that the removal of the Director-General of Nigerian Civil Aviation Authority, NCAA few days to the visit of Federal Aviation Administration, FAA, of the United States inspectors to Nigeria to re-certify the country’s Category-1 status, may send wrong signals to the inspectors and consequently affect the country’s chances. The D-G of NCAA is supposed to have a tenure after being cleared by the Senate. This is to create stability in the system and allow the D-G concentrate on his job of providing safety for the delicate aviation industry. The former DG of NCAA, Captain Fola Akinkuotu had told aviation reporters last week that “the Federal Aviation Administration (FAA) has once again written to inform us that they will be visiting Nigeria for a mandatory reassessment of our Category One certification.” “It is, however, important to make it abundantly clear that as part of the conditions attached to certification is that there will be a re-assessment of the receiving country after every three years. Towards this re-assessment, the Nigerian Civil Aviation Authority is putting

all hands on deck to ensure that the nation acquits itself very well in the impending exercise. “To this effect, a Technical Committee has been inaugurated to provide fillip and drive all the preparation process.” The team of American inspectors will be coming to Nigeria on 31st of March. The recertification of Category 1 Status by FAA is a regular exercise and those countries that have not met the re-certification processes have had their certificates withdrawn. Reacting to the sack of the DG of NCAA, the President, Aviation Roundtable, Capt. Dele Ore, said: “I actually think the removal of NCAA DG, Captain Fola Akinkuotu is an aberration. I think the removal of the man shows that we have shot ourselves in the foot by that particular action. It is likely to weigh against the country in terms of the oncoming audit by the United States Federal Aviation Agency. “The painful part of the removal of Akinkuotu is that Oduah actually did not allow that man to do anything in the very few months he was DG. She tied his hands.”

SAHCOL restructures workforce By LAWANI MIKAIRU

he Skyway Aviation Handling Company Limited ,SAHCOL, has commenced restructuring of its workforce. According to Basil Agboarumi, Assistant General Manager, C o r p o r a t e Communications, the exercise is to, “ refocus the company in line with current realities and make it more prepared to face future projections of surpassing customer ’s expectations” In the new structure, Olumide Odebiyi, David Olorundade, Adigun Olaniyi and Lanre Adekola, who were formally Assistant General Managers, Operations, Human Resources, Sales & Marketing, and Engineering & M a i n t e n a n c e , respectively, have now been elevated to the position of General Managers. Also, Olujimi Osho, Formerly Company Secretary/Legal Adviser, is now General Manager, Legal Services/Company Secretary, Lawrence Adejo, the erstwhile Chief Accountant, is now General Manager Finance, while Basil Agboarumi, formally Head Corporate Communications, is now Assistant General Manager, Corporate Communications. Furthermore, Mrs. Boma Ukwunna deployed from the Sifax Offduck Okota, a subsidiary of the Sifax Group, is now the General Manager, Cargo Services. “In a letter detailing this new structure, the Managing Director of SAHCOL, Olu Owolabi, disclosed that the restructuring exercise which is on-going, will spill-over to all staff, hence called for the support, loyalty, and commitment of every staff to realize the company goal.”

C M Y K

34 — Vanguard, MONDAY, MARCH 10, 2014

People in Business out with a collective position.” Health sector problems: “There have been problems in Nigeria’s health sector – between the doctors and other health professionals. The medical doctors try to prove that they are the most senior having had the most extended years of learning and therefore the ones who should be the administrators in hospitals.

Skytrend News formed to render national service —FEMI ADEOYA

r. Femi Adeoya is the Chief Executive Officer of Skytrend Consulting Ltd, a business development and accounting solutions firm which recently added another feather to its cap, Skytrend News, an online news publication. In this chat with Financial Vanguard, Adeoya, an accountant by profession, speaks on Skytrend’s newest initiative and how it is impacting society for good. Excerpts: •Femi Adeoya ....It is our considered opinion that such unilateral closure should not happen in a democracy.

Why we started Skytrend News: ccording to Adeoya, Skytrend News is another initiative from the stables of Skytrend Consulting. “With my knowledge of the emerging market in the online world, I thought of getting Nigerians acquainted with relevant information to help them make informed decisions. I have been a social crusader passionate about good leadership in Nigeria for quite some time now and also being a member of a few civil society organisations, I felt the need to set up a medium to share socio-political and economic information with Nigerians. It was this passion that brought about the idea of Skytrend News which is not your regular online news web site. It is unique in the context of being a web-based news site established primarily to herald the news of Nigeria to Nigerians and to be an active stakeholder in the socioeconomic development of the country in particular and the world at large. Skytrend News is not a business-focused venture, it was formed mainly to render a national service – to provide factual information to Nigerians that will help them make informed decisions as citizens in every area of our national life and as it affects the enthronement of good leadership which will in turn help the nation’s socio-

C M Y K

By EBELE ORAKPO

It is not just about news reportage, it is about giving back to society, being a sort of watchdog to the government, it’s about providing alternative solutions and making policy suggestions .... it’s about being the conscience of the nation

economic development. “ I n Skytrend News, our vision is to champion a knowledge-based growth and be the leading voice in the establishment of good leadership, expose corruption and social ills in the society, establish sound corporate culture, promote the right of every citizen, and the political/socio-economic development of our country. We hope to achieve these by educating, re-orientating and informing with a view to building an egalitarian and equitable society,” Adeoya said. Recounting some of the strides made by the outfit between August 2013 when it started and now, Adeoya said: “We have been able to make some meaningful development. Prof. Wole Soyinka once said: ‘The man dies in him who keeps quiet in the face of injustice.’ Nigeria started her 4 th Republic on May 29, 1999 and since then, we have had a lot of ups and downs in our political life.

"Our nascent democracy is still developing and we feel that there is need for a platform that would be able to provide information that will help the citizens and the country not only develop faster but get to her desired haven," he said. Selling point: deoya noted that Skytrend News follows every story to its logical end. "In Skytrend News, we don’t just break the news but we act on the story with our readers and stakeholders, and that forms our unique selling point. We will never stop at just reporting, our aim is always to dig deeper, get to the bottom, right the wrongs, dot the ‘i’s and cross the ‘t’s.” xplaining further, Adeoya said: “What most of the regular web sites do is to break news, inform people and then stop at that but we are different. We don’t just want to break the news and inform or just educate, we want to act on the story, and we want to develop the story

l i k e CNN d o e s . When CNN breaks a story, they will say ‘developing story.’ That is their unique selling point so they don’t just stop at bringing the story, they report every area as it develops and they analyze it. Once we get a piece of information, we try to get to the root of it and when we are acting on it, we don’t just act unilaterally, we do so in partnership with our numerous followers and stakeholders. "An example is the recent closure of Iponri market in Lagos. For us, it was not just enough to report that story, we followed it up, we interviewed the Surulere Local Govt Chairman, we spoke with the traders and we were able to discover that the reason why it was locked up was not acceptable and the process ill-thought out. It is our considered opinion that such unilateral closure should not happen in a democracy and that processes should be well spelt out and defined to guide market activities. his was not the case in this particular situation. So when we have a ‘market leader ’ locking up a particular market for pecuniary gains or such untoward motive and asking traders to bring certain documents before reopening, we want to investigate the reason(s) for that. So we act on the story and in doing this, we involve concerned Nigerians in such trending issues and we come

e published an article on the need for relevant stakeholders to quickly address this issue. Thanks to modern online communication technology, we were able to assemble stakeholders to have an indepth discussion on our web-based discussion platform where we engaged them thoroughly, having identified the core problems in the sector. “Many of the health professionals wrote us and made practical and pragmatic contributions for a solution that would be acceptable to all, and we in turn published them for our readers to digest. Whenever we have strikes in this sector, patients bear the brunt. That sector has been bedeviled by a lot of problems and the patients are the ones always at the receiving end. Today, you have medical doctors going on strike and once they resolve with government and the strike is called off, the other health professionals also call out their staff on strike. This is not acceptable. “So in cases like this, we want to partner with stakeholders in the health sector, not just reporting the health problems, but along with them to look for a solution and see how we can resolve the problems. That article in question attracted a lot of readership and we postulated some areas we feel the government and National Assembly should look into to resolve the problems. "We also encouraged our government to deploy international best practices in the health sector. Hopefully this can resolve the lingering problems in that sector. So this is one of the ways we tr y to help society. Basically therefore, it is not just about news reportage, it is about giving back to the society, being a sort of watchdog to the government, it’s about providing alternative solutions and making policy suggestions to the government and more importantly, it’s about being the conscience of the nation."

Vanguard, MONDAY, MARCH 10, 2014 — 35

C M Y K

36 — Vanguard, MONDAY, MARCH 10, 2014

E- Commerce

Police investigates another bitcoin bank failure in Canada

anadian police have launched an investigation after online bitcoin bank Flexcoin, which closed its virtual doors, last week, said that it had lost about $600,000 worth of the digital currency in a hacker attack. The company reported the theft of 896 bitcoins on its website on Monday and said it “does not have the resources (or) assets ... to come back from this loss.” It blamed the attack on hackers who had targeted its online wallet. Bitcoins stored in Flexcoin’s cold storage facility, which is basically an offline bank, were not affected by the hack and will be returned to customers, the company said. The Edmonton Police Service (EPS) said they were investigating the issue. Flexcoin’s demise comes close on the heels of the collapse of Mt. Gox, once the world’s dominant bitcoin exchange, which filed for bankruptcy last week after it said it had lost some 850,000 bitcoins.

EBay top shareholders agree on PayPal

hief Executive Officer of the global e-retailer, EBay, John Donahoe said on Wednesday that several of the online retailer’s most active shareholders have assured him they support his efforts to resist demands by activist investor, Carl Icahn for a spin-off of the PayPal unit. Donahoe told Reuters that he has spoken with as many as 16 of the 20 most-active shareholders in eBay, and most favored hanging on to the fast-growing PayPal payments unit. He did not say what percentage of the company’s shares was held by the investors who agreed with his resistance to Icahn. “I met with 15, 16 of our top 20 active investors, have engaged back and forth in dialogue with them,” Donahoe said in an interview. “The majority of them understand that they’re stronger together,” he said. PayPal had become the preferred online payment method of the online marketplace’s customers when eBay acquired it for $1.5 billion in 2002.

C M Y K

5Lab, the venture firm behind Jobberman and Cheki in conjunction with 88mph-a company that specializes on accelerating internet startup growth in Africa, have launched an investment platform called 440.ng, to assist twenty mobile and internet startups in Nigeria. The partnership which makes over $1.5 million available to new and existing mobile and internet start-ups businesses across Nigeria over the next two years will also provide training, mentorship, tech advice, and an energizing environment to help speed up their businesses while building and getting their products into the market. Speaking at the official launch of the partnership in Lagos, Chika Nwobi, Managing Partner of L5Lab, described the collaboration as an opportunity to scale their company’s impact by creating more Nigerian success stories, having made a small number of very successful investments over the last three years. She said, “We want to put some equity of between $10, 000 and $100,000 in a company and anybody that is going to invest we are going to move them into the space that we have created which will accommodate about ten companies at a time. Google is taking some part as a partner and we are also bringing some other partners into the

VISIT: From left, Olayinka Oni, Chief Technology Officer, Microsoft Nigeria, Kabelo Makwane, Country Manager-Designate, Microsoft Nigeria, Jean-Philippe Courtois, President, Microsoft International and Awawu Olumide-Sojinrin, Marketing and Operations Director, Microsoft Nigeria during the visit of Jean-Philippe to Nigeria recently.

Venture firms partner to accelerate Nigerian mobile startups growth By JONAH NWOKPOKU & WILLIAM JIMOH space so that they can get the support and all the things that they need in order for them to have the best chance of succeeding while gaining design and technical knowledge. This is to enable them build their products if they are not having one already." Also speaking, 88mph

founder, Kresten Buch, noted that, “Seeing the great potential of our existing portfolio in Cape Town and Nairobi, Kenya over the past two years, we think Nigeria is the next step for 88mph and our method of investing is accelerating startups growth. “440.ng was designed to focus at investing cash into businesses that we believe can become very successful. And like a channel partner, they work with us and that enables them to have access

to bank and other players that they may need and also, if the partnership works, it will also attract venture capitalists that are interested in putting in money to ensure that the business grows. “This is not just for people that have not yet started a company, it is also for people who already have a company running but maybe they are lacking exposure, finance or access to certain channels to partners that can help their business to grow well.”

BeyondBranches Nigeria deepens mobile money penetration BY JONAH NWOKPOKU

eyondBranches International Limited has deepened its mobile money penetration through the expansion of its agent banking service initiative to Owo, in Ondo state. BeyondBranches is a United Kingdom based agency banking and mobile payment platform with a subsidiary in Nigeria.It was setup in 2013 to support cashless, agency banking and mobile payment initiatives in the country.

The Chief Operating Officer of BeyonBranches in Nigeria, Simon Aderinlola, in statement said BayondBranches’agent, Olabisi Olaniyi, who deployed the mobile payment services to Ondo on behalf of BeyondBranches, has recorded tremendous success. Customers, according to the agent, have been delighted by the convenience that the service has been able to offer them, by enabling airtime topups, pay-tv subscriptions and cash deposits in the banks. According to him, “BeyondBranches identified

Ondo State as a key target for these innovative services in 2013. This was finalised in December 2013, when BeyondBranches visited Dr Olusegun Mimiko– Governor of Ondo State – as part of a delegation of British businesses led by Mr. Peter Carter – the British Deputy High Commissioner in Lagos. The delegation also visited Ekiti and Oyo states. Speaking on what has motivated the deployment of the services, Aderinlola explained that, “According to the World Bank, there are over 11million Micro, Small

and Medium Enterprises in Nigeria. We hope to provide valuable mobilebased services to help these businesses become more efficient in their operations. However, we have started by enabling specific and targeted over-the-counter payments for our partner organisations. We have also been running promotions to encourage agents to sign-up and get active from the outset. Our promotions also aim to drive agent transactions and repeat consumer patronage.”

Vanguard, MONDAY, MARCH 10, 2014 — 37

Tax Matters

Tax relief for pioneer companies By AHMED IBRAHIM ALIYARA

BIRTHDAY SEMINAR: From left Mr. John Ehiguese, Group MD, Media Craft Associates; Mazi Mike Okereke, Chairman of the Occasion; Mr.Nn'emeka Maduegbuna, Managing Director, C and F Porter Novelli, celebrant, and his Wife, Mrs Augusta Maduegbuna during the 60th Birthday Lecture and Celebration of Nn'emeka Maduegbuna, in Lagos. Photo by Lamidi Bamidele.

he Nigerian Government has over the years put in place many different and overlapping incentive schemes to attract both local and foreign investment. Tax exemption is generally regarded as an industrial investment device; many developing countries like Nigeria offer it as one of their major incentives. Basically, tax incentives are designed to encourage investments in certain preferred sectors of the economy and sometimes geared towards attracting inflow of foreign exchange to complement domestic supplies for rapid economic development. Tax exemption otherwise known as Tax holiday is one of the most widespread tax incentive. Tax exemption simply means a period of exemption from payment of taxes imposed by the government and this may be complete or partial. The grant of pioneer status, therefore, gives a company a preferred position in getting established, usually through exemption from income tax. A pioneer company is a company that engaged manufacturing, processing, mining, servicing and agricultural industries whose products have been declared pioneer products on satisfying certain conditions in as determined by Industrial Development Coordinating Committee (IDCC) of the Government under the Industrial Development (Income Tax Relief) Act Cap 179 LFN 1990. The pioneer Tax holiday is for an initial period of three years or subject to further extension of two years or five years (ones and for all without further extension). Enabling Act Act Chapter 179 laws of the federation of Nigeria (LFN) 1990 but first enacted by Decree No22 of 1971 and commenced on 1/4/1970. Commencement Date 1st April, 1970 •“An Act to repeal and reenact, with major changes, the industries Development (Income Tax Relief) Act and to make provision for Tax relief for certain industries that may be issued with pioneer certificates by the minister and other matters ancilatory there to” •Conditions: *Industry is not being carried out on a suitable scale as required and there

Tax exemption simply means a period of exemption from payment of taxes imposed by the government and this may be complete or partial

are prospects for further development in the country or its product. *If it is in the public interest to encourage the industry or its product. *Application may be made for the inclusion of a product on the pioneer list Mode of Application *All application to be addressed to the Minister *State the status of the company *Give details of qualifying capital expenditure to be incurred *Give sources of qualifying capital expenditure and estimated cost *Specify location of Assets *Date of production of pioneer products *Any by product not being a pioneer product TERMS OF PIONEER CERTIFICATE *Must be in terms of the application to which it relates. *Specify permissible byproducts to be produced. *Specify period within which company must be incorporated and conditions to be endorsed *Pioneer status will only be issued from a date when company was incorporated and shall be effective from a date not earlier than the date on which the application was submitted to the minister or date of incorporation, whichever is the later.

*Any other condition will be specified by the minister *The minimum Tax relief period not exceeding five years to be stated 3(6)(a-b) Amending of Pioneer Certificate to Add New Product ection 4 (1) – (3) allowed a company during its pioneer period to make application in writing to the Minister to add a new product. RETROSPECTIVE PIONEER OPERATION •Where a pioneer certificate is to be operative from a retrospective date, all Acts shall be treated as not having been closed or not having happened and all taxes paid (if any shall be repaid as soon as may after the expiration of three months from the production day. PRODUCTION DATE •No later than one month when the company is going into commercial production (marketable quantity), the company shall apply in writing for the certification of its production date. •Not later than one month after the production date or any extended period granted by the Board, the company shall make application in writing to the Board for the certification of the amount incurred as qualifying capital expenditure prior to the production date. Cancellation of Pioneer Certificate i)Company may apply for

cancellation ii)If company contravened any provision of the Act or failed to meet conditions set. Tax Relief Period i)Commencing from the production date, it shall continue for three years (but can be extended):ii)for another one period of two years (if the standard and rate of expansion are satisfactory), local raw material utilization expansion, Training and Development of Nigerians, Government Policy Priority) iii) Five years (once and for all). TRANSITION FROM PIONEER STATUS Conditions of Old Trade or Business of a Pioneer Company *The old trade shall be deemed to ceased permanently at the end of the tax relief period *The pioneer company deemed to have set up a new trade on the day next following the end of its relief period *All capital expenditures incurred and used by a pioneer company shall be deemed have been incurred on that day next following the end of its tax relief period *Where it incurs a Net loss, that loss shall be deemed to have been incurred on the date on which its new trade commences i.e. it will be allowed to deduct all the losses brought forward from the pioneer period *The company must submit to the Board a list of its assets for certification. *At the end; the Board will issue a certificate of qualifying expenditure *The Board is expected to issue the company for each

year, the amount of income as ascertained and loss as arrived at (if applicable). Treatment of Capital Allowances and Losses •A capital expenditure incurred shall be deemed to have been incurred on that day next following the end of the pioneer period. i.e. regardless of the number of years granted a pioneer company, all capital expenditures incurred in line with the provision of the second schedule within the periods shall be deemed to have been incurred after the Tax relief period. •For losses incurred within the pioneer period, the cumulative amount will be deemed for computing total profits to have been incurred on the day, next following the pioneer period i.e. it will be allowed as a deduction in the new business. D O C U M E N TAT I O N REQUIRED BY FIRS *Memorandum and Article of Association *Certificate of Incorporation *Answer to standard questionnaire *Pioneer Certificate issued *The period approved *Production date *Products and by-products *For a going concern, the Audited account ended before the production date to be furnished (regardless of the number of months). Rendition of Returns *The conditions governing the submission of tax returns in CITA are applicable to a pioneer company. *One year from commencement of production date *Period of one year successively *Last year of the relief period. *Example: Kano Money Lender Ltd was granted a pioneer status commencing from 1st July, 1999. The company has 31/12 as it’s accounting date. The period granted was for five years. *At expiration of the pioneer period, it submitted Accounts for the years ended 31st December, 2004 and 2005 you are given these additional data The data: 2004 (N) 2005 (N) i) Net Profits 16,980,155 9,758,273 ii) Depreciation 32,157,000 46,102,328 iii) Capital Allowance b/f 172,314,886 — iv) Investment Allowance 10,378,700 8,033,243 v) Initial Allowance 7 5,414,556 58,020,388 vi) Annual allowance 37,975,662 60,659,786 You are required to compute basis period and the relevant taxes payable by this company. C M Y K

38 — Vanguard, MONDAY, MARCH 10, 2014

C M Y K

Vanguard, MONDAY, MARCH 10, 2014 — 39

Advertising, Media & Marketing

New Identity: GTHomes becomes Imperial Homes Stories by PRINCEWILL EKWUJURU

n compliance with Central Bank of Nigeria, CBN directive in 2010 to revoke universal banking practice in Nigeria, GTHomes has changed its name to Imperial Homes, and expressed commitment to providing best services. The name change means that Guaranty Trust Bank Plc (GTBank) divested from its subsidiaries including GTHomes Limited. The shares of GTHomes owned by GTBank prior to the divestment were acquired by a select group of investors through a special purpose vehicle. This divestment provides the bank a fresh opportunity and imperative for achieving its internal goals and mission of being the leading Mortgage Bank out of Africa. In line with the divestment by GTBank and as with GT Assurance, GTB Asset Management, and other of its subsidiaries, GTHomes Limited was required to change to a new name, said the Managing Director of Imperial Homes Ben Akaneme, while speaking at the name change event in Lagos. According to him, “We are pleased to introduce the new identity of GTHomes Limited as Imperial Homes Mortgage Bank Limited. The name Imperial Homes reflects our desire to continue to provide our esteemed customers the best internationally benchmarked services in mortgage banking through our highly

motivated and innovative employees and expresses our identification with the vision of housing for all.” Continuing he said: “as we have done through the years, our goal will continue to be the provision of excellent services. The core values that GTHomes inherited from GTBank remain the guiding principles for Imperial Homes Mortgage Bank Limited. We remain the same people, the same institution operating with the same core values and principles despite our name

BRIEFING: From Left: The Managing Director ARESVEEPEE Limited,Ms Kemi Koyejo, the Project Consultant, Keskese Limited, Mr Tade Adekunle and the Executive Director, Nigeria Food Fiesta Limited during a press conference on the forthcoming Nigerian Foods & Drinks Exhibition held in Lagos.

Mr Chef rewards distributors

einstating its commitment to the brand promise, Eat Better, Live Better, Bayswater Industries, makers of Mr. Chef seasoning cubes rewarded its loyal distributors across the country with the presentations of 11cars, cash prizes and other

Sweet sensation fetes couples

he valentine season may have come and gone, but families celebrated during the day did not forget the ingenuity of Sweet Sensation Confectionery. The couples’ dinner tagged ‘Red Hot Valentine’ in partnership with Coca-cola rounded- off this year ’s Valentine’s celebration. According to the Executive Director, Olatunji Kamson,’ 2013 couples dinner was the starting point of a creative revolution of “give back” in a love relationship between the foremost QSR Brand and its Customers. He went on further to say that the successes recorded in 2013 spurred us to bring it back but

change.”. “Our Logo has been enhanced but retains its essence. It is still a brief description of our brand. The orange and gray continue to represent our friendly, professional and trustworthy nature. The four sides of the box signify our Customer focus, Customer Service, innovativeness and Total Quality Management while the ‘I’ in the box represents our intensity and single minded focus on our customers; for us the only thing that matters is our highly esteemed Imperial customers.

in a hotter mode. The Head, Marketing Yemi Yusuf stated that to qualify to attend the dinner, couples bought any Sweet Sensation mouth-watering meal with any coca-cola products worth N1, 500 in a single purchase (with their contact details clearly written on the back of it) and dropped their purchase receipts in a designated receipt bowl in the outlet. The receipts were shuffled in a raffle draw on Thursday 13 th February where lucky winners were picked from each of their outlets. The winners were thereafter contacted and encouraged to pick up their tickets for attendance.

consolations prizes in appreciation for their patronage. Speaking at the event, the Executive Director, Chief Reggi Uduhiri, said, “Bayswater Industries, makers of Mr. Chef, have instituted the ‘Distributors Reward Scheme’ as a high value incentive to our dedicated distributors who have demonstrated commitment and loyalty to the brand.” He added that the company always believed that the three parameters behind Mr. Chef Brand success are quality, quality and quality. He explained thus “Quality in terms of Product, Quality in terms of Manpower & Marketing and Quality in fulfilling our promise.” He disclosed that the secret behind Mr. Chef seasoning success was in its natural ingredients which help in giving nutritional benefits to consumers. The event which was held in Lagos was also the celebration of the brand’s 5th anniversary, the company General Manager, Mr. Rajesh Kumar disclosed that the growing patronage testify that ‘Mr. Chef ’ seasoning is now an accepted brand leader for Nigerian consumers.

Laws of Service Excellence — Part Three

n the last couple of weeks, we have been discussing the laws of service excellence. Organisations that excel in service operate on certain principles, or laws, as we call them here. Here’s a quick recap of the principles we have discussed so far: *The customer is the boss *The frontline is the company *Service is driven and supported by organisational culture *External service mirrors internal service *Customer experience matters more than company communications. *Excellent service comes at a price *All customers are not equal *Little things matter *Most dissatisfied customers won’t complain *The customer is not always right *The customer is self-centred Should you wish to look at these principles in depth, I suggest you get a copy of 20 Universal Laws of Service Excellence. Aside from other things it contains, the book offers you 120 actionable ideas you can use right away to make your service sparkle. And if you’re looking for ways to infuse some of the ideas we share here into your business and prepare your team to compete on service, do get in touch; we might be able to help. Meanwhile, let’s consider five more laws. Frontline employees understand customers more Sales people, receptionists, secretaries, relationship officers, bank tellers, and service engineers – these are all part of the frontline of organisations. These workers are well placed to represent the organisation before the customer. Indeed, they are the company to most customers. At the same time, they are in a vantage position to act as customer advocates and transmit feedback to the organisation. Ideally, by virtue of its regular contact with customers, this category of employees knows much more about the customer than other people within the company. If you’re not taping their knowledge of customers and market situations, you’re really missing out. You need to listen to your frontline. Excellent organisations do. You get what you measure and reward People will strive to do virtually anything if they know there is a reward for their effort. Organisations that seek to instil a culture of service must have objective criteria for measuring service from the customer’s point of view and rewarding employees who deliver exceptional service. In other words, there should be clearly defined ways of measuring and rewarding excellence. Reliable service is critical Reliability may mean different things to different people in different situations, but the key thing is that the promised service is delivered when, where and how it was promised. Reliability has its rewards. Earning a reputation for reliability is one of the best things that can happen to an organisation. But it never happens! It comes as a result of painstaking effort to make sure the customer is never disappointed, barring exceptional circumstances. Marketing is everyone’s job Most great organisations usually have marketing departments; but they know that marketing is everybody’s job. The marketing departments only coordinate this job. Excellent companies go to great pains in ensuring that every employee is a marketer! It’s easier to keep current customers than attract new ones Profit comes when a customer buys again and again. Simply because we need less advertising money, fewer salesmen’s calls and less effort to get an existing customer to buy it is easier and cheaper to sell to current customers. For this reason, it also makes a lot of business sense to try to keep existing customers happy. C M Y K

40 — Vanguard, MONDAY, MARCH 10, 2014

Email:lesleba@lesleba.com, lesleba@gmail.com Blog page:www.lesleba.com/blog2 Website: www.lesleba.com Tel:0805 220 1997

however, rather than douse demand, the vibrant forex market experienced dollar supply shortage, which expectedly intensified the pressure on the naira exchange rate. Consequently, less than 60 days later, the suspended CBN Governor, in another characteristic policy somersault, summarily lifted the limit on sales of dollars to BDC, despite the recognition of the BDC’s role in facilitating money laundering, capital flight and the ignoble smuggling enterprise, which kills our industries. Invariably, even Sanusi’s incongruous policy flip-flop could not reduce the pressure on the naira, because he probably failed to appreciate that the problem was not only dollar supply, but significantly also the unceasing deliberate creation of excess naira supply by the same CBN. For example, the apex bank’s illadvised provision of over N1tn to settle AMCON’s non-CBN debts in the last quarter of 2013 inadvertently also added almost N10tn worth more of naira liquidity into an already nairasuffocated money market to further worsen the plight of the naira against the dollar. Thus, it becomes a farcical expression of concern, when the same agency that consciously created the disenabling naira surfeit turns round to sell rations of dollar revenue it earlier captured, in its futile bid to “defend” the naira rate of exchange. Nevertheless, these unforced contradictions in the product of monetary strategy will become successfully resolved with the adoption of dollar certificates for the disbursement of the dollar component of distributable revenue.

Phony defence of the Naira and the folly of a nation of our serious infrastructural deprivations. A good example of this bizarre outcome may drive the point home; some Nigerians will recall that Mr. President was in China last year, partly to raise funds for infrastructural enhancement, and indeed, apparently raised about $1.5bn with an interest rate that may not be far short of the 7% rate on our existing Eurobonds. Interestingly, however, the CBN Governor was also in China to assess investment opportunities for some part of CBN’s dollar reserves! However, it is unlikely that Sanusi found any investment opportunity that would ultimately produce a yield of more than 4%; in such an event, there is nothing that stops Chinese investors from borrowing directly from CBN at a cheaper cost for onward lending to the Nigerian government at a higher rate of interest!

adly, the above illustration is indeed also mirrored by the process of domestic debt accumulation. To substantiate this observation, we quote Lamido Sanusi’s revelation as reported in Thisday Newspaper’s issue of 24/07/2013. “…First of all, you have got liquidity (naira) surplus in the banking industry; … there is over N1.3tr or so sitting in banks and belonging to government agencies. Now basically, they (these funds) are at zero percent interest and the banks are lending about N2tn to the

government and charging 13 to 14%! Now, that is a very good business model, isn’t it? Give me your money for free and I lend it to you at 14%; so why would I go and lend to anyone?” Worse still, the funds mopped up (borrowed) by the CBN are simply sterilised or kept idle, despite prevailing significant budget deficits! Thus, as CBN’s reserves grow, so also does the extent of naira surplus in the system expand to inadvertently

worrisome with CBN’s unceasing monthly substitution of naira allocations for distributable dollar revenue. A significant part of Nigeria’s estimated N8tn domestic debt was actually accumulated with this suicidal monetary strategy while service charges on such “useless” debts probably exceeded $3tn in the last six years.

urthermore, CBN’s forced appetite to borrow hundreds of billions of naira at

igerians generally believe that large foreign reserves are useful for defending the exchange rate of the naira. However, our total foreign reserves actually comprise of two primary income streams; the first is the Excess Crude Account (ECA), which consists of all crude oil revenue in excess of budget estimates. In the recent past, over $10bn accrued annually into the ECA. Surprisingly, however, government always managed to consume the proceeds in this account in addition to the hundreds of billions of naira, borrowed by government, at costs usually above 12%, to fund earlier projected ghost deficits, which were induced by the misguided conservative price and output benchmarks adopted in annual budgets. The inherent contradiction of federal budgets that inexplicably accommodate deficits as well as actual revenue surplus is regrettably generally lost on our people, and our illustrious Economic Management Team. The second major component of our foreign exchange reserves is what the Central Bank of Nigeria (CBN) describes as its “own reserves”; the value of this reserve is currently about $40bn. CBN’s claim to sole ownership of the $40bn reserves is founded on the principle that the federation cannot lay claim to this fund since government was already the beneficiary of the naira ‘equivalent’, which the apex bank unilaterally created and substituted as allocations for constitutionally distributable dollar revenue.” For this reason, CBN’s $40bn reserves cannot be appropriated for defraying deficits in our budgets, nor to redress some

Even Sanusi’s incongruous policy flip-flops could not reduce the pressure on the Naira, because he probably failed to appreciate that the problem was not only dollar supply

promote a conducive platform for a general price rise, and lower exchange rate as CBN’s obtuse and patently unconstitutional payments strategy constantly induces a market mix of systemic surplus naira chasing relatively few ‘goods’ and rationed dollar supply from the CBN every month. Thus, the flipside of CBN’s increasing dollar reserves is actually the constant threat of inflation as well as increased domestic borrowing, as the CBN ‘posthumously’ embarks on a borrowing spree at doubledigit interest rate, in order to reduce the burden of surplus naira that become increasingly

such high cost, inevitably also crowds out the real sector from accessing cheap funds. The scarcity of cheap funds to SMEs ultimately contracts the domestic economy, thus, inducing an increasing level of unemployment as collateral. Consequently, it seems our people have to become poorer for CBN’s reserve to grow. In a failed attempt to stem naira depreciation in the recent past, Sanusi wrongly identified abnormal dollar demand as the prime villain for increasing market pressure. The CBN, therefore, reduced its weekly forex allocations to Bureau De Change (BDC) from $1m to $250,000. Not surprisingly,

Business & Economy NBC

affirms

By PRINCEWILL EKWUJURU

he Nigerian Bottling Company (NBC) Limited has restated its commitment to preserving and protecting the environment by supporting Wecyclers Nigeria Limited. Wecyclers is an organisation that seeks to solve the urban waste challenge by using a fleet of low-cost cargo bicycles to offer convenient household collection of recyclable waste in neighbourhoods. To support and expand its current collection capacity, the company recently purchased C M Y K

commitment and handed over eight (8) tricycles, known as Wecycles, to Wecyclers Nigeria Limited. Speaking at the handover ceremony which took place in the Lagos State Waste Management Agency (LAWMA) yard in EbuteMetta, one of Wecyclers’ collection hubs, Mrs. Adeyanju Olomola, Head, Public Affairs and Communications, NBC, said the Company was delighted to support Wecycler’s drive to expand its capacity to collect waste from households in Lagos State. She noted that the expansion also had a multiplier effect on job creation as the addition Wecycles would create 10 new

waste

jobs. Mrs. Olomola added that NBC’s sponsorship and participation in recycling activities is borne out of an active commitment of the Company to Packaging Waste Recovery and Recycling, one of its seven (7) Sustainability pillars, and noted that the partnership with Wecyclers, therefore, represents a community-led, measurable, scalable and sustainable initiative. Speaking further, s h e emphasized that NBC was not only concerned with refreshing consumers with a wide range of products but is also interested in working in partnerships to minimise the impact of packaging on the environment.

recovery,

recycling

Omoh Gabriel Babajide Komolafe Clara Nwachukwu Peter Egwuatu Yinka Kolawole Favour Nnabugwu Godwin Oritse Godfrey Bivbere Michael Eboh Oscarline Onwuemenyi Franklin Alli Ebele Orakpo Ifeyinwa Obi Rosemary Ohuoha

Group Business Editor Finance Editor Energy Editor Head, Capital Market Snr Bus. Correspondent Insurance Correspondent Maritime Correspondent Maritime Correspondent Capital Market Reporter Energy Reporter Industry/Agric. Reporter Energy Reporter Maritime Reporter Insurance Reporter

CONTRIBUTORS Princewill Ekwujuru Naomi Uzor Providence Obuh LAYOUT

Media/Marketing Industry Micro Finance Graphics Department

Vanguard, MONDAY, MARCH 10, 2014 — 41

C M Y K

42—Vanguard, MONDAY, MARCH 10, 2014

Vanguard, MONDAY, MARCH 10, 2014 — 43

44 — Vanguard, MONDAY,

MARCH 10, 2014

Vanguard, MONDAY, MARCH 10, 2014 — 45

C M Y K

46 Vanguard, MONDAY, MARCH 10, 2014

Vanguard, MONDAY, MARCH 10, 2014—47

Terrorists may have bombed Malaysian plane —EXPERTS .Airliner's fragments found BY UDUMA KALU with agency report

ference’ and ‘mumbling’ before they lost the connection. Earlier on Saturday, two oil slicks were HILE THE wreckage of the plane spotted by the Vietnamese air force in the has still not been found, new pho- Gulf of Thailand, about 90 miles south of tos of oil slicks in the South China Sea a Vietnam’s Tho Chu Island - the same area growing body of evidence is beginning to where the flight disappeared from radar. point towards a terrorist attack. Investigators are narrowing the focus of At least two passengers on the missing their inquiries on the possibility that the Malaysia Airlines flight travelling on false plane disintegrated in mid-flight, a senior passports have also become the focus of a source said on Sunday grim investigation as aviation and securi‘The fact that we are unable to find any ty experts claimed a bomb was the most debris so far appears to indicate that the likely cause of a crash believed to have aircraft is likely to have disintegrated at claimed 239 lives. around 35,000 feet,’ said the source, who Debris from the missing Boeing 777 flight is involved in the investigations in Malayis believed to have been found off Viet- sia. nam as Interpol investigates whether up The passports were used to buy tickets to four passengers boarded the plane us- booked in the names of Italian Luigi Maing stolen passports. raldi and Austrian Christian Kozel on March And dramatically, a second pilot who 6, 2014, and issued in the Thai city of Patwas in the skies over the South China Sea taya, a popular beach resort south of the when the 777 vanished has spoken about capital Bangkok. hearing ‘mumbling’ at the other end of The security breach has led to fears that communications with the plane. missing Malaysia Airlines flight MH307 The captain, who asked to remain anon- may have been taken down by terrorists to ymous, said he was asked to get in contact be heightened. with the pilot flying the missing plane on It comes as the chief of the Malaysian Air an emergency frequency and establish Force said that radar indicated the missing their position. He said he believes he spoke plane may have turned back before it to the co-pilot, but that there were ‘inter- crashed. ‘What we have done is actually look into the recording on the radar that we have and we realised there is a possibility the aircraft did make a turn back,’ SUICIDE bomber kiosk when suddenly a hor- Rodzali Daud, the Royal driving a mini-bus rible blast threw me outside Malaysian Air Force chief, packed with explosives has and hurled my groceries up told reporters at a news conkilled at least 45 people and in the air. I saw cars set ference. wounded 157 in the south- ablaze with people burning Associate Professor Felix ern Iraqi city of Hilla, po- inside,” said Abu Nawar, Patrikeeff, of Adelaide Unilice and medical, sources owner of a make-shift kiosk versity, said he was conmade of palm-tree leaves cerned by the number of say. The attacker approached near the check-point. Chinese passengers on Police were using cutting board and it may have been a main check-point at a northern entrance to the equipment to break inside targeted by the an antilargely Shia Muslim city the burnt vehicles and lift Chinese group such as the and detonated the mini- out charred bodies, the po- Uighur militants from Chibus, a police officer said on lice officer said, adding that na’s restive Xinjiang provthe death-toll was expect- ince in the country’s northcondition of anonymity. At least 50 cars were set ed to rise. west responsible for a sav“When a policeman sus- age knife attack that left 33 ablaze with passengers trapped inside and part of pected the mini-bus, he dead at a Yunnan railway the check-point complex asked the driver to pull over station on March 1.. was destroyed, the officer for a check, but the vehicle Professor Patrikeeff said exploded,” the police offic- the plane may have been said. It was not immediately er said. targeted as a result of the Bombings and other at- number of prominent arclear who was behind the attack, but suicide bomb- tacks killed almost 8,000 tistes and calligraphers on ings are a trade-mark of al- civilians in 2013, the worst board — skills revered by period for the country since the Chinese. Qaida-affiliated groups. “I was sitting inside my 2008.

Iraq suicide bomb attack kills dozens

Ukrainian PM visits US over Crimea

RSENY YATSENIUK, the prime minister of Ukraine’s fledgling government, will visit Washington on Wednesday, the White House has confirmed, as the crisis over the seizure by Russian forces of the Crimean peninsula continues. Yatseniuk revealed the Washington trip, in which he will visit the White House, at a government meeting in Kiev on Sunday, saying it was aimed at “resolving the situation unfolding in our bilateral and multilateral relations”. It will involve “toplevel meetings”, he said, though the White House has yet to make clear whether that would include an audience with President

Barack Obama. Obama’s press secretary, Jay Carney, said on Sunday the visit would highlight “the strong support of the United States for the people of Ukraine, who have demonstrated inspiring courage and resilience through recent times of crisis”. Top of the agenda will be the search for a peaceful solution to Russia’s military intervention in Crimea, Carney said, as well as economic support for the new Ukrainian government. The European Union has already offered Ukraine at least $15bn in aid, and the US a further $1bn.

48—Vanguard, MONDAY, MARCH 10, 2014

ROM time to time, things hap pen and provide us the platform to interrogate Nigeria’s chequered history and relive its bitter impact on one section or the other of the country. When, about a year ago, Professor Chinua Achebe joined his ancestors, the system virtually exploded. His views in his last book: There Was a Country, portrayed Achebe’s views about the ways the nation handled the events before, during and after the Biafra/Nigeria war. It became an occasion to reopen an old wound, which, to our shock, we discovered was still sore and suppurating rather than healed even after forty three years. The celebration of the Centenary of Nigeria’s history on Friday, February 28th 2014 by the Federal Government was another opportunity to go down the blood-spattered memory lane of our history, particularly the stretch of it that brought about startling changes, which we are still experiencing till date. We will come to it shortly. Let

Soyinka versus Abacha orphans again, the word: “positive” can also become contentious. For instance, under the subhead: “Outstanding Promoters of Unity, Patriotism and National Development”, all nine names except the late President Umaru Yar’ Adua, were retired military generals, all nine names were also former presidents or heads of state except Lt Gen TY Danjuma. These were people who plotted coups against our democracy, committed war crimes

They can afford to thump their chests and declare themselves ”patriots”, even though in their forty one years of misrule they sowed poverty, disease, destitution, corruption, violent crimes, religious conflicts and ethnic hatred

me do the first things first. The Federal Government published a list of 100 Nigerians it said were “outstanding” in the roles they played in the first 100 days of Nigeria’s existence. Of course, that list is the opinion of the Federal Government under President Goodluck Ebele Jonathan. Perhaps, if another person had the privilege of occupying that position today, there might be slight variations. I daresay that the 100 “outstanding” Nigerians who will be celebrated by Diaspora Nigerians on June 27th 2014 at the Waltham Forest Town Hall, London, will definitely parade starkly different set of awardees. The word: “outstanding” can be confusing, even misleading. Everybody on that list was outstanding, indeed; but that is not the same thing as being “saintly”. Those who criticised some individuals there probably felt that a person ought to be outstanding in a positive way to make the list. But then

during the civil war, promoted sectional domination, misruled Nigeria to destitution, institutionalised corruption and looted our economy. These were people who destroyed the basis of our national unity now being branded as “promoters” of patriotism and national development simply because they found themselves at the helm of the nation’s affairs. The most annoying name on that list is that of TY Danjuma, the man who, in a fit of regional revenge, abducted and butchered his own Supreme Commander, General Aguiyi-Ironsi. Danjuma, who is enjoying the fruits of his “labour” is a proud owner of oil blocks who has become so rich that he does not know what to do with his money. Yet, Col. Adekunle Fajuyi, the man who performed an outstanding demonstration of honour, principle, patriotism and sacrifice, by offering his life in defence of his Supreme Commander and guest, Ironsi, was omitted. Well, it is said

BY CHUKWUDI ENEKWECHI

EFORE our very eyes, history is being made with the emerging industrial revolution in the country. While some pessimists are still looking in the future for Nigeria’s version of industrial revolution, most discerning and visionary minds know that with the first made-in-Nigeria vehicles by Innoson Group already on our roads, the stage is set for the expected sudden leap in industrial activities. Gladly, we have in place a visionary President who understands that laying a solid foundation for Nigeria’s industrial take off is a sine qua non for the nation’s development. For the first time in our history, we have a government that lays emphasis on encouraging local industries to grow to their fullest potentials. For example, with the deliberate policy of the Dr Goodluck Jonathan administration to patronise locally made vehicles like Innoson, in preference to foreign made vehicles will no doubt spur many other companies to look inwards by setting up their plants in Nigeria. It is unimaginable the level of relief this singular move will bring to the already saturated unemployment arena. It is noteworthy that developed economies like USA, Japan, South Korea, China and Germany, among

that who win wars write histories. This list is the history written by counter-coupists of July 1966 who promoted pogroms in Northern Nigeria, committed genocides during the civil war and went on to seize the oil resources of the former Eastern Region and Niger Delta. They can afford to thump their chests and declare themselves ”patriots”, even though in their forty one years of misrule they sowed poverty, disease, destitution, corruption, violent crimes, religious conflicts and ethnic hatred. They left behind a nation that lacked basic things like power, refineries, good roads, functional hospitals, viable educational system and what have you. The families of the late human rights activist, Chief Gani Fawehinmi (SAN) distanced themselves from the list, saying it was Babangida; one of the “promoters of patriotism and national development” who exposed their patriarch to the dangers that led to his eventual demise. The Ransom-Kuti’s demanded an apology first for the killing of their grandmother, Mrs. Funmilayo by Obasanjo’s “Unknown soldiers” ordered by Danjuma to burn Fela’s “Kalakuta Republic”. Both Fela and mum made the 100 names, and so did Obasanjo and Danjuma. What an irony! Professor Wole Soyinka is not a stranger to rejection of awards from the Nigerian governing establishment. He has done so twice in the past. But this time, he considered being lumped into the same list with the late General Sani Abacha as a “national insult” he was not willing to partake of. He calls Abacha a “murderer and thief of no redeeming quality”. In a rage, two of Abacha’s children went on the social media and hurled insults back at Soyinka,

and mounted a spirited defence of their father. While Sadiq Abacha told Soyinka that his days as the pioneer Chairman of the Federal Roads Safety Corps (FRSC) was not exactly spotless as it witnessed the “misuse” of funds, Gumsu said she was withdrawing her respect for the Nobel Laureate. Sadiq and his sister coming in stout defence of their demised father is understandable. What else should they do? It was for their sake that Abacha stashed away those billions. Ironically, as they badmouthed Soyinka, the United States government announced it was confiscating yet another $458 million Abacha loot. A Justice Department source, who disclosed that the funds were stashed in bank accounts in Britain, France and Jersey, described Abacha as “one of the most notorious kleptocrats in memory, who embezzled billions from the Nigerian people while millions lived in poverty”.

Nigeria's history The Abacha family is insulated from the shame of their father’s place in Nigeria’s history because General Abacha is still regarded as a hero in many parts of Arewa North. In fact, even some southerners sometimes remember some of the good things the dictator did while alive. Though he hanged Ogoni activist, Ken Saro-Wiwa, the people of erstwhile backwater areas like Bayelsa, Ebonyi, Ekiti, Nasarawa, Gombe and Zamfara States are still grateful to the man for giving them their own states to enable them develop their homelands with federal allocation. Abacha is also remembered for creating the six geopolitical zones, which are now seen as potentially more viable federating units than

OPINION Innoson and Nigeria's industrial revolution others, boast of having majority of their citizens employed in the automobile industry. Back home, with the emergence of Innoson Vehicles Manufacturing Plant at Nnewi, Anambra State, many qualified graduates and non-graduates alike are today gainfully employed by the company. Additionally, by the singular innovation of the Innoson Group of manufacturing vehicles locally, many import- dependent motor companies are now making desperate moves to set up their plants in Nigeria, and this move would greatly help to reduce the number of unemployed youths in the country. The move has the potential to save hard earned foreign currency, as this would now be channelled towards growing our Gross Domestic Product as well as strengthen the Naira. Government on its part has been lending the necessary support by initiating a National Automotive Policy, which seeks to redirect our attention to manufacturing made-in-Nigeria vehicles. With the recent launch of the second phase of Nigeria’s

industrial revolution plan by President Jonathan, Nigeria is set to reap abundant benefits of the multi-dimensional impact these policies will have on the nation’s economy. It is, therefore, a thing of joy that the INNOSON Vehicles Manufacturing firm took the first initiative to do the “impossible” – manufacturing Nigeria’s first vehicles ranging from cars, trucks, SUVs, compactors, buses and other brands. Imagine for a moment where we have two vehicles manufacturing plants like Innoson in each of the six geo-political zones of the country, and the great boost it will bring to the nation’s economy. It is acknowledged worldwide that the private sector plays the role of growing the economy while the government puts in place the relevant policies to drive and support them, as we have in the National Automotive Policy. The Jonathan administration is arguably the first to envision the limitless potentials available in the automotive sector, and they have rightly positioned it to play a major role in the industrial revolution of the

the 36-state structure. Abacha aficionados point to the exploits of the defunct Petroleum Trust Fund (PTF) which, even though it was used to enrich northern technocrats and unfairly site a large proportion of its projects in the North under General Muhammadu Buhari, its Executive Chairman, remains much talked about almost twenty years after. Whether some of these Abacha gestures were by design or default, the fact remains that when he suddenly died on June 8th 1998, the whole nation erupted in jubilation as though Nigeria had won the FIFA World Cup. Abacha was set to remove his uniform and impose himself as president for life just before he died. He would have turned Nigeria into another Togo, Gabon and Syria, where sons inherited the presidency from their fathers. Nigerians would have lived under the servitude of the Abacha family till goodness knows when. Abacha took Northern hegemony to its worst extreme and was ready to make war on Yorubaland to do to it what was done to the East and the Ogonis. After the fall of Abacha, the military – and the North whose interests they were pushing socio-politically and economically – became unpopular, and power shifted to the South. Power shift was the only thing that stood between Nigeria and disintegration by the time Abacha’s reign of terror was over. I think it was a good idea to mark one hundred years of Nigeria’s experience as a country. I don’t think it was a great idea naming those 100 “outstanding Nigerians”, since the country is not yet outstanding except, in most cases, for the negative reasons. Why would such a list have a place for Sheikh Abubakar Gumi, whose preaching promoted hatred between Muslims and Christians in the North, while keeping away Dr. Alex Ekwueme, the proven most aboveboard public officer who ever occupied the Vice Presidency as well the greatest promoter of transition to the current democracy we are practising today between 1996 and 1998? And how many are more outstanding in Nigeria’s history than Dim Chukwuemeka Odumegwu Ojukwu, ex-Biafra leader and the only non-president of Nigeria to be given a national burial by the Nigerian army?

country. There is no arguing the fact that for Nigeria to develop to the level of Asia Tigers, more emphasis needs to be paid to other sectors, other than oil. For instance, every state or region ought to concentrate in areas that they have comparative advantage such as agriculture in the North, Cocoa in the West, Palm produce and industrial knowledge in the East. There is no doubt that if these areas are adequately tapped, Nigeria’s growth and development will be astronomical. It is, therefore, worthy of commendation that Innoson Vehicles Manufacturing Company has taken the bold step to lead in setting up the first indigenous vehicles manufacturing plant in Nigeria. All hands must be on deck to support their efforts, by patronising their products which gladly have been tested and certified as more durable and qualitative than the imported vehicles. Additionally, the patriotic act of Mr. President in privatising the power sector will no doubt result in an increase in the nation’s productive capacity. What is however required is for the government to maintain a consistent policy direction for the overall development of the nation. *Mr. Enekwechi, a public affairs analyst, wrote from Abuja.

Vanguard, MONDAY, MARCH 10, 2014—49

VANGUARD CLASSIFIED JAIYEOLA—I, formerly known and addressed as Miss J o s e p h i n e Oluwatoyin Jaiyeola, now wish to be known and addressed as Mrs. Josephine O l u w a t o y i n Olukotun. All former documents remain valid. General public please take note.

IGWEH —I, formerly known and addressed as Miss Igweh Nneka, now wish to be known and addressed as Mrs. Iweriebor Nneka. All former documents remain valid. Nigeria Police Force and general public please take note.

OKUNBOR—I, formerly known and addressed as Miss Okunbor Ogor Jessy, now wish to be known and addressed as Mrs. Igunbor Ogor Testimony. All former documents remain valid. General public please take note.

OYA K H I R E — I , formerly known and addressed as Oyakhire Stanley Elvis, now wish to be known and addressed as Akweh Stanley Elvis. All former documents remain valid. General public please take note.

AMADI—I, formerly known and addressed as Miss Chioma Princess Amadi , now wish to be known and addressed as Mrs. Chioma Princess Jojo. All former documents remain valid. General public please take note.

OGBEVIRE—I, formerly known and addressed as Miss Ogbevire Ekugbere Brenda, now wish to be known and addressed as Mrs. Izakpa Ekugbere Brenda. All former documents remain valid. General public please take note.

ELIZABETH—I, formerly known and addressed as Elizabeth Japan, now wish to be known and addressed as Oyakemeagbegha Japan. All former documents remain valid. General public take note.

Confirmation of Name This is to confirm that the name Godwin Ejenavi Tete, refers to one and the same person as Samson Tete Osoro, now wish to be known and addressed as Samson Tete Osoro. All former documents remain valid. General public please take note.

UZOMA—I, formerly known and addressed as Miss Uzoma Ogechi Abigail, now wish to be known and addressed as Mrs. Onyenobode Ogechi Abigail. All former documents remain valid. Madonna University and general public please take note.

ANUNA—I, formerly known and addressed as Miss Juliana Ogochukwu Anuna, now wish to be known and addressed as Mrs. Juliana O g o c h u k w u Ezechukwu. All former documents remain valid. Nnamdi Azikiwe University Teaching Hospital and Union Bank Plc, Nnewi Branch, please take note.

EKPERE—I, formerly known and addressed as Miss Sonia Ekpere, now wish to be known and addressed as Mrs. Sonia Alohan. All former documents remain valid. General public please take note.

PIUS—I, formerly known and addressed as Miss Esther Pius Omoize, now wish to be known and addressed as Mrs. Ekebafe Esther Omoize. All former documents remain valid. NYSC and general public please take note.

ALKALI—I, formerly known and addressed as Mrs. Alkali Oluwakemi Zainab, now wish to be known and addressed as Mrs. Emmanuella Oluwakemi Ola Osanaiye. All former documents remain valid. Nigerian Police Force and general public please take note.

ADVERT HOTLINE 01- 8737025

Film academy plans career empowerment

AGNUS Film Academy (MFA), a subsidiary of Magnus Film and Entertainment, is conducting a career training programme for youths in film production, modeling and media presentation at its Enugu training centre, March 14-19, 2004. The academy with an affiliation in the United States of America and France offers internship training and associate degree programme and courses on film production, cinematography, acting, directing, producing, screen writing, video editing, media presentation, creative design and modeling. The career training programme tagged: “Scholarship Certified Internship Course On Art And Film Production” was preceded by auditioning/entrance examination conducted for prospects between February 28 and March 1 2013, where qualified participants emerged in different categories based on the grades scored from assessment of judges comprising actors/actresses from the Nollywood, amongst whom were film director, Emeka Jonathan and Nollywood actress Mrs. Florence Owanta. Also in attendance to give credence to the exercise was chairman, Actors Guild of Nigeria, Enugu State Chapter, Mr. Stan Kay Amadi.

Ojuko lauds APC roadmap

CHIEFTAIN of the All Progressives Congress, APC, and former Commissioner for Commerce, Tourism and Cooperatives in Ogun State, Chief Jide Ojuko, weekend, described the recently released All Progressives Congress road map as a laudable project aimed at re-building the nation. Ojuko who spoke in Ota, Ogun State said that an All Progressives Congress government in 2015 would implement people-oriented programmes that will make it an envy of other developing countries. The chieftain who said a lot of researches have been conducted by the party on ways to move the nation forward, noted that with all the nature’s gift in the country, the APC would harness the resources to turn them into fortunes. He said that with the present APC controlled states in the south-west being models for other states of the federation, the APC needed the people’s support and loyalty for the party to form the government in 2015.

50—Vanguard, MONDAY, MARCH 10, 2014

Ekiti guber:

Why I don’t trust INEC — Gov Fayemi

•My success story •Second term is not a myth for Ekiti governors •Why life expectancy is highest in Ekiti IT was set to be a 40-minute interview with the Vanguard Political Desk that commenced shortly after 10 p.m. in the Governor’s Office in Ado Ekiti last Tuesday. However, as Governor Kayode Fayemi churned out statistics on his adventure in the Ekiti political turf, the time keeping Chief Press Secretary, Yinka Oyebode, lapsed in his duty as the interview stretched beyond the hour. Governor Fayemi, a one-time democracy activist, and civil society champion is at his most eloquent self when talking about how he is using the platform of office to champion the egalitarian ethos that he at one time could only talk about. The daily soup kitchen for citizens, the N5,000 monthly cash benefit to the elderly and the uplifting of public schools are among indices that would give him attention in the congregation of social democrats. Excerpts: BY EMMANUEL AZIKEN, GBENGA ARIYIBI, DAPO AKINREFON, CHARLES KUMOLU & GBENGA OKE

Attractive period I was convinced to run. I moved round the state and assessed the enormity of the challenge and don't forget, when I threw my hat into the ring the first time, a certain gentleman called Ayo Fayose was governor here and it was not the most attractive period for anyone to want to become governor in this state. The question then among many of my friends in academia and civil society was: ‘do you have a death wish?’ ‘Why would I want to go and do this in a place as dangerous as Ekiti?’ That was the general feeling. It was almost aimless boldness to venture into the political terrain in Ekiti State at the time I did. And I was like the most C M Y K

•Fayemi: I didn't have the ambition to be governor unknown quantity. If you recall at the time I came into the race in 2006, you already had the likes of Ayo Arise, Caleb Olubolade, Segun Oni, Dayo Adeyeye, Dare Babarinsa already in the ring. In my party, we had 20 people, prominent Ekiti citizens, who were in the race for the job. I was an unknown quantity as far as politics was concerned. I didn't have the ambition to be governor. I never really had an ambition to be governor but when I was convinced to be governor, I saw it as a duty to the party which was out of office at the time. One of the people who convinced me to run happened to be the former governor, Otunba Niyi Adebayo. Now why do you want to go for a second term? I have an unfinished task. The task is not complete. We have restored Ekiti back to its pride of place. But restoration does not necessarily equate to transformation. Restoration brings Ekiti to a point of stability.

I do not delude myself that we have achieved all that we set out to achieve. First, most of the people I know are no longer ashamed to say that they are from Ekiti now unlike what used to happen. For me, people make reference to what we have done in the education sector, infrastructure, health care and particularly, the social security for the elderly, but that is not my most profound value addition if you ask me. It is the restoration of dignity and respect to Ekiti. So, when we say land of honour, people know that we are honourable people who have nothing else but integrity to sell. And it is a high net-worth value for me. That has since translated into practical deliverables in the various sectors because the fact that my word is my bond has enabled me to say that I promised this on October 16, 2010 when I delivered my inaugural address, and this is where we are now on that agenda. We have

gone way beyond the 70 per cent mark, but it is still unfinished business because poverty has not been totally eradicated. The vision as advertised to everybody in Ekiti, which became a mantra in the eight point agenda for Ekiti recovery was that we want to make poverty history in Ekiti State and I don't think we have fully done that. We

ID you have the intention of seeking a second term when you sought for election the first time? I did not seek for election in 2007, as you put it. I wasn't even in politics in the partisan sense of politics. I was prevailed upon to run. There is no one in politics at that time that would say that I was one of those running around wanting to be governor. I did not set out to be governor which in the true sense of it, is a duty and not an ambition. So, I was not ambitious. I was not interested but I was eventually convinced of the necessity to put my hat into the ring at the time. So, if you want me to answer your question properly, this is actually the first time I am running on the strength of my own conviction that I want to be governor in Ekiti State. So, you could call me an accidental governor. But then, that accident quickly stopped at the time I really became active in the race.

ambition. And I have made a distinction between a duty and an ambition. What am I constitutionally and legally allowed? I don't believe I am subverting the constitutional obligation that I have as enshrined in the Nigerian constitution. I also think it is actually a myth when people say in this part there has been no two-term governor. Even though we had seven governors in the last seven years before I became governor, that simply tells you that none of them even completed a term in office, let alone have ideas about running for any other term. You need to complete one term before wanting to run for another. So, when they say that, they don't add that only one governor completed a democratic term in office, and that is Governor Niyi Adebayo. And there are many people in this state who continue to insist that Adebayo won the election in 2003. Let us even assume that it is true that there has been none, (but) so it was in Kano before Shekarau became a two term governor. So it was next door Ondo where it was also said that no one could be a two-term governor. The choice is very simple. Luckily, this a state where the prominent parties have both had a go at it. PDP had been in charge of this state for seven and half years. Place the two governments of the PDP and ours side by side and do a dispassionate analysis of what we both contributed to governance. Every asset that is standing on ground in this state, happened under the progressive wing. Whether you are talking of Ekiti House in Abuja, Ikogosi Water Springs that many people are visiting now, or the revived bricks factory among others, you will realise they all happened under the watch of the progressives.

So, if you want me to answer your question properly, this is actually the first time I am running on the strength of my own conviction that I want to be governor in Ekiti State definitely dented the impact of poverty in our state but we still have some way to go. Given the saying that no governor of Ekiti State goes for a second term, could it be suggested that your declaration for a second term is the cause of the heightened tension in the state? I have already indicated that for me, this is a duty and not an

That is in terms of physical infrastructure. If you talk in terms of human development, which involves social security, youth volunteer scheme, peace corps, we have also done much. In Agriculture, the story is clear. If you talk of health care in terms of the state of hospitals, access to healthcare, health insurance, it

Continues on page 51

Vanguard, MONDAY, MARCH 10, 2014—51

Ekiti:

2nd term is not a myth — Fayemi

Continues from page 50 is only under us that these things occurred. Of course, if you talk of education, the statistics are very clear. You only need to go to the merged Ekiti State University and see a focused government that has an agenda for educational reform. If you don't want to go as far as the university, check out what is happening at the secondary school level. The statistics are also clear. So, I don't know how that will now be the source of tension. The evidence before us suggests that if you don't want to arrest development, then continuity is very critical to growth, especially in an environment where every time government has been sidetracked or affected by the term of office, you also almost automatically have abandonment of key initiatives. This is the only government in Ekiti State that did not abandon projects of previous governments. The projects that Governor Adebayo did that were abandoned, the residences of our House of Assembly members that Fayose never touched are there. This (Governor’s Office) is a

that those local roads are being constructed. In Ado, we have had a peculiar challenge with the contractor handling the beautification and the contract has been revoked. And there is a process to that. We cannot get a new person to do it until we legally remove those who were in charge of the original contract, that is the reason for that. I know that the new contractors are about to start work on the beautification of Ado Ekiti. Your administration initiated community development projects across the state. To what extent have they benefited the populace? We have spent so far about N614 million on the various projects. The way we went about it was that we had a philosophy that the people are the best monitors and implementers of projects that are dear to their hearts.

Best monitors and implementers These were projects submitted by the communities and not government projects. They are

Opeyemi never approached the party that he wanted to run for any office, not at the ward level, not at the local government level and not at the state level

hotel built by Governor Adebayo and somebody came and said this is more befitting for me as an office, but we would have been making more money if it had remained in its original state that Governor Adebayo put it. I came and said I was not going to abandon any project. People thought I was stupid, ‘how could you be doing the road to your enemy’s hometown?’ But I said Governor Oni is not my enemy. I only challenged him because I was convinced that I won an election. The money that was being used to construct the road to Ifaki was not Governor Oni’s personal money. It is Ekiti money, it is our commonwealth. So, why would I abandon it simply because it goes to Oni’s village? When I came, the road to Governor Fayose's home town was the worst road in the state. I was the one who did it. Virtually all the roads leading to the supposed enemies' home towns, I did them because I felt it was right the thing to do. I don't see any tension. Naturally, when election is on the way, it is the nature of politicians to exaggerate their own importance and to give a sense of 'if not me, hell will break loose'. The urban renewal project embarked upon by your administration in Ado Ekiti seems to have stagnated. Is it paucity of funds? Work has not stopped. If you go to Ikole or Ikere, you will see

not really gigantic projects. What we did was to take the presidents and secretaries of the town unions to a workshop. They would bring their projects. They would also bring their plans and the costs. We will then send people from our Ministry of Rural Development to assess and evaluate projects and we then give them money in phases. 50 per cent to start, then 30 per cent and 20 per cent subsequently. And the evidence before us indicates that in virtually all the communities where we have projects, it is almost 80 per cent completion, and they have been completed on time and cost. They have done much better more than we are able to do as a government that awards contracts to people outside. From the assessment I have done, it simply shows that people take ownership of what they implement and it is difficult to steal community money. If it is government, nobody is government. Government money is money for everybody and whoever can grab. I have an unfinished task at Govt House. That is the notion that has been engraved in people's mind. But for communities, you need to see the kind of accounting records that they keep. It is one of the most successful project initiatives we have come up with. Why do you hate Teachers in Ekiti State given the allegation

legitimate. The only objection I had was the notion that he was hounded out of the party because there was no space for him to contest. I will give you specific examples and evidence that Opeyemi never approached the party that he wanted to run for any office, not at the ward level, not at the local government level and not at the state level. So, nobody could have denied him the right to run.

Denial of right to run

•Fayemi: I said I was not going to abandon any project that you are going to use the competitive test introduced by your government to sack them? Anyone who asks you to improve cannot hate you. If somebody is interested in you becoming better and much more qualitative in what you do, then the person loves you. I think I must admit that there are times when good initiatives may be communicated in a way that it does not achieve the objective that you set out to achieve. I don't think there is any teacher in this state that believes that I hate teachers. First, I am a product of a teacher and secondly, I am a teacher by training. Thirdly, free education is an obsession for me and at every opportunity. I also want to improve myself and I want people around me to also be improved. Fourthly, I am a product of public school education in this state, not in Lagos or Abuja. You can walk to my school in ten minutes from here (Governor’s Office). So, I grew up here and I knew what solid public education was when I was growing up, and I really wanted to rekindle that when I became governor here. I can tell you that teachers in Ekiti have never had it so good.

Core subject allowance So if you teach English, Mathematics or you teach basic science in Ekiti. On top of your normal salary, you get 20 per cent as an incentive. This is an addition to the general teachers’ peculiar allowance. In fact, other workers of government are complaining that teachers in Ekiti are too well treated to their own detriment. For the first time in the history of this state, primary school teachers are getting car loans. We gave car loans to secondary schools and civil servants in. the state. But the previous government did not even give loans to anybody, whether you are primary or secondary teachers. This is the

government that has pioneered all these things. This is a government that renovated and reconstructed 183 secondary schools and 856 primary schools, some of them had not been touched since during the time of Chief Obafemi Awolowo. We received the good news from Abuja of having the best primary school in the country. The Stock Exchange did a competition just late last year and our College of Education Demonstration School in IkereEkiti came first. The state university made the best result in the Law school this year. For the first time in 34years, Ekiti State University has all its courses accredited by National Universities Commission, (NUC). This was a university that was in the doldrums when I became governor and I took that step that many believed to be foolish by merging three universities. I did what I had to do and I told people that leadership is not by popularity contest, it was about a clear mission, a solid mission and about the deliverable. My interest is that teachers who teach in our schools must improve themselves. Today, we have seen the results because students are leaving private schools for public schools in Ekiti State and we have to give the credit to the teachers for the work they have done but they should not relent because I want the future of our children to be better. Is there any truth to speculations that you and your one-time political associate, Opeyemi Bamidele are in talks for reconciliation? If Opeyemi believes that he is not my friend, that is his prerogative. Opeyemi is my friend. He will remain my friend for as long as I live. I consider him more than a friend. I consider him a brother and that is why he could do all of what he is doing without my batting an eyelid. But I also said to you, in times past, that there is nothing wrong in having an ambition, it is

His objection was that some political leaders in our party had endorsed the governor and you cannot legislate against endorsement. Endorsement is not election, it is not primaries. Chief Obafemi Awolowo endorsed a gentleman named JS Olawoyin as the candidate for UPN in Kwara State. That primary held thrice, some unknown university lecturer named CO Adebayo defeated the giant of Kwara politics. Chief Awolowo had no choice than to accept the result even though his own colleague and friend, whom he wanted, was the victim of that race. Nobody said Opeyemi could not run. Opeyemi, in his own estimation, looked at the terrain and felt if this man has been endorsed by some leaders of the party, if I run against him, it may be a futile effort. Why don't I go to another party? And he is right in doing that. I don't think that should make enemies of us. Are there indications on ground to buttress claims by INEC chairman that the Ekiti elections would be the best in the country given the fallouts from the recent election in Anambra? Let’s just say the taste of the pudding is in the eating. INEC is always good at demonstrating preparedness but there is always a difference between demonstrating preparedness and implementing preparedness. I would like to think that Professor Jega is genuinely committed to a clean and credible process. The little that I know of him gives me that sense that he is genuine about his claims. But when you do things the same way and you expect different results, it does not come across to me as genuine preparedness. I will like to be proved wrong that I have not seen that qualitative, objective, independent readiness. Maybe I don't know enough of what is in place. But I sit in my vantage position, I monitor what is going on and I also talk to those who are somewhat involved in the process and I do not get a sense that we have learnt lessons. But then, my reactions maybe extreme because I have been a victim as you know and I am not prepared to give INEC a benefit of the doubt. My own mantra is to be over prepared for them. C M Y K

52— —Vanguard, MONDAY, MARCH 10, 2014

C M Y K

Vanguard, MONDAY, MARCH 10, 2014— —53

C M Y K

54—Vanguard, MONDAY, MARCH 10,

2014

PMS: Tanker drivers shut down Oshodi-Apapa expressway again •We need federal assistance- Lagos •We have no where to pack our tankers to load fuel -n NUPENG •Navy promises to help clear mess BY KINGSLEY ADEGBOYE, VICTOR AHIUMA-YOUNG, OLASUNKANMI AKONI, SEBASTNE OBASI & KUNLE KALEJAYE

PAPA /OSHODI expressway has lit erally been shutdown since Friday with yesterday being the most agonizing for motorists. The shutdown was caused by tankers and trailers that seized the major economic artery of the country. All law enforcement agencies pleaded helplessness yesterday with the policemen disappearing from the roads completely leaving trapped motorists at the mercy of thieves. The situation was compounded by the ongoing slow paced construction work on the road by Julius Berger. The mayhem was justified by the Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, yesterday. A source told Vanguard that the blockade was caused partly by a directive from the Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, who reportedly gave a 48-hour deadline to Pipelines and Products Marketing Company, PPMC, and oil marketers to clear the long queues at filling stations and end the lingering fuel shortages. To meet the deadline, PPMC, said it will inject additional 110 million litres of petrol into the market this week. Lagos State government, in its reaction to the development, urged motorists and residents of the area to be patient, admitting it lacked the wherewithal to enforce the law to the letter on the axis without federal agencies’ support. This came as NUPENG blamed the development on the fact that tanker drivers from all parts of the country converged on Apapa to take delivery of the product, as that was the only place in the country fuel was available.

Naval authorities give assurance Although the naval authorities assured last night that its personnel were on their way to clear the tankers off the road, the situation at press time, remained the same with no respite for motorists and other road users. The expressway was completely shut down, Friday, as movement was brought to a halt. The tanker drivers abandoned their vehicles on the road as late as 1.00am. The situation grew worse yesterday. When contacted, the Lagos State Commissioner for Transportation, Kayode Opeifa, lamented the situation, saying the federal agencies had to do the needful to help traffic situation at Apapa. Opeifa said, “We have called several stakeholders meetings on how to keep Apapa moving even during scarcity but the oil unions have not kept to their own side of the bargain. The problem with Apapa has to do with the influx of articulated vehicles, both tankers and containers, heading for the port to load goods. “We were made to understand that Apapa ports were the only ports discharging PMS in the country, hence, the high influx to the area. And not until the situation improves, we will continue to have the same problem recurring. I think we need the collaboration of the Nigeria Po-

lice and the Navy to help sanitize the area which the only federal government can do. But we are doing our best despite the inadequate manpower, to keep the traffic going in the area and we will continue to mobilize our men to manage traffic situation.” It will be recalled that, disturbed by the traffic gridlock experienced by motorists as a result of the indiscriminate parking of tankers and other articulated vehicles on the Apapa-Oshodi expressway, especially around the Lagos sea ports and Tank Farm locations, the state government summoned the leadership of the various transport operators working in the corridor to fashion out strategies to resolve the present gridlock and put smiles back on the faces of Lagos commuters and motorists. The meeting, chaired by the commissioner and representatives of National Union for Petroleum and Natural Gas, NUPENG, and Association of Maritime Transport Owners, AMATO, agreed to call their members to order by moving out of the road and staying within the designated areas assigned to them. According to one of the tanker drivers, Alhaji Ahmed Mustapha, “I have no option now, the road to Apapa is blocked and I have to load my tanker. I came from Kogi State for the past three days. I have not got supply and there is no parking space for us.”

NUPENG regrets hardship Meanwhile, NUPENG, while regretting the pain and hardship caused Nigerians, promised that it would do all within its powers to ensure that members, especially tanker drivers, respect the right of other road users. Lagos Zonal Chairman of NUPENG, Alhaji Tokunbo Korodo, who oversees NUPENG in South-West States and Ilorin, Kwara State, attributed the chaotic situation on the road to tanker drivers’ rush to load product and reduce the scarcity of fuel that Nigerians had been going through for about three weeks. He lamented that it was only tank farms in the Apapa axis that had fuel, prompting tanker drivers from all parts of the country to load fuel. Korodo said tank farm owners asked tanker drivers to come and load on Sunday to ensure Nigerians got petrol from today. Korodo said, “It is only in the Apapa axis that we have fuel and tanker drivers came from all parts of the country to Lagos to load. Tank owners called the tanker drivers to come and load on Sunday to ensure that from Monday (today) and lessen the hardship and suffering Nigerians have been going through for nearly three week now. We will immediately move in to ensure that our members respect the right of other road users.” Explaining why tanker drivers park on the highway, Korodo in an earlier interview, had said: “When the tanker drivers are told to come and load and there is no free passage, there will be traffic on the road. One of the major reasons for this chaos is lack of parking space. We have in Orile, known as Asiwaju Bola Ahmed Tinubu Truck Terminal.

Balogun Continued from BP Leon Balogun, will after all not undergo surgery on his injured right foot, German medics ruled at the weekend. An excited Balogun said from his German base on Sunday that when he went for a second check on his injury he was told by doctors that the injury he sustained in the friendly against Mexico last Wednesday in Atlanta, Georgia, United States is not as serious as previously envisaged hence there will be no need for surgery. “They told me that the two bones broken are in the base of my foot, which will heal on their own and will not require me to undergo any surgical operation. I was also told that within six weeks I should be in good condition and another two or four weeks for

Nigeria end Sopot adventure medalless

OR the third consecutive edition Team Nigeria has failed to make it to the podium as the curtains were drawn on the biennial 15th IAAF World Indoor Championships in Sopot,Poland yesterday. Sprinter,Gloria Asumunu crashed Nigeria’s final hope of a podium appearance when she finished seventh in the 60m final,one step lower than her sixth place finish two years ago in Istanbul,Turkey at the 14th edition of the championships. The reigning African 200m queen had raised hopes of a possible upset when she ran 7.11 seconds to place second behind Cote D’Ivoire’s Muriel Ahoure (7.06).She was however blown away by the strong field which included double sprints champions at the IAAF World outdoor championships in Moscow, Russia last year, Shelly-Ann Fraser-Pyrce who won the title in 6.98 seconds and Ahoure who came second. Earlier in the day the women’s 4x400m relay team failed to replicate in the final the 3:29.67 African Indoor Record they ran in the semi-final as they finished last. Quartermiler, Regina George had raised Nigeria’s biggest hope for a medal when she ran 51.60 seconds, the fastest time in the first round to qualify for the semi-finals.

rehabilitation. Overall I should be back kicking the ball by the time the national team returns to camp”, he declared. Already, treatment for the 25 year defence ace has already began in German and the Nigerian medics are also keeping a close tab on his treatment. “Yes, I have been in touch with Dr Ibrahim Gyaran, team administrator, Dayo Enebi Achor and I must say I am

totally overwhelmed by the show of love by Nigerians and fans across the world. I remain committed to overcome this initial setback and return quickly for the World Cup preparations”, he said. He said he will keep fit while recuperating by visiting the gym regularly. “I just hope I don’t look too muscular when I resume training, but I will keep fit while I try to get myself ready for future challenges”, he said laughing.

Wolves Continued from BP after they eliminated Cameroon’s Union Douala. On Sunday, Wolves drew 1-1 with Union Douala at home to advance to the next round of the competition 4-3 on aggregate after they won the first leg 3-2 in Cameroon. Musa Najare, who scored in Cameroon, tucked away the match winner from the penalty spot on 55 minutes after Etebo Oghenekaro was brought down inside the box.

Visiting Union Douala drew level in the 90th minute also through a penalty converted by Djan Tchan Christian. The first half at the Warri City Stadium was evenly balanced as both sides went at each other. Nigeria’s other representatives in the competition, Bayelsa United, will face How Mine of Zimbabwe in the second round. The Confederation Cup second matches will be played at the weekend of March 21-23.

Ezekiel Continued from BP Saturday night. The newly-capped Nigeria international came off the bench on the hourmark, in place of Yoni Buyens, with his team yet to find a way past the opposition’s resilient defence. Micky Batshuayi however opened scoring for the hosts with a 72nd minute strike, courtesy of an assist from Moroccan midfielder Mehdi Carcela. Before Ezekiel struck in the 84th minute

to seal the win for Standard. The 20-year-old has now scored ten league goals in 29 appearances for Standard Liege who hold a sixpoint lead at the top of the Jupiler Pro League table with 66 points from 29 games. In other games, Michael Uchebo saw full minutes of action for Cercle Brugge as they succumbed to a 4-1 home defeat at the hands of KAA Gent. Gabriel Reuben was not listed for Waasland-Beveren as they held Lokeren to a goalles draw.

Eagles Continued from BP club. The Nigeria midfielder has not enjoyed as much game-time as he did last season and reports have linked him with a move to Inter Milan in the summer. But Mikel has told MTNFootball.com there is no truth in such reports as he has a contract till 2 0 1 7 . Mikel also spoke on his dream to win a second EPL championship at Stamford Bridge. He equally said that Eagles will shine at Brazil 2014 by stopping a losing run against Argentina at the World Cup to begin with.

On how this season been for you and Chelsea, Mikel said “so far, it has been good. We are top of the table in EPL and still in contention for the Champions League. It’s been great”. Asked on the likelihood of Chelsea winning both titles, Mikel said ‘we are capable of winning both trophies, but we have not won anything yet. The league, we are leading and need to remain focused and get good results in the remaining games, same for Champions League. We will continue to give our best in the remaining games, we will take them as they come”.

Vanguard, MONDAY, MARCH 10, 2014—55

The young man came in at a very difficult time in the life of our football, our sports, waded and weathered through the storm

C M Y K

tition losing on the away goal rule to Malian club, AS Real de Bamako after a 2-2 draw over two legs. Eguma reckons the Malians “ would have been easily beaten” by Enyimba if the People’s Elephant were involved in competitive games before they faced Real Bamako. “I said it even before

Farewell Festus Nwako

athletes, the first ever National Youth Games, for athletes between the ages of 13 and 17, took place in December 2013 with over 300 special talents discovered. The Games will be held yearly. “The National Sports Commission (NSC) has revitalised the National Academic Sports Committee (NASCOM), which is tasked with developing grassroots sports. Mr President launched NASCOM’s flagship programme for grassroots sports development, Rhythm and Play in June 2013. NASCOM’s mandate through the RnP approach is to get 2million additional children to participate in sports. NASCOM is already registering schools, game masters and children to achieve this goal. “As part of its RnP programme, NASCOMhas started distributing sports equipment to schools. For the North central Zone, the distribution of sports equipment to the schools was done in Lafia, Nassarawa state in November 2013. “Nigeria is in the process of establishing the first High Performance System in the whole of West Africa. The HPS is a science –based support system for elite athletes. The National High Performance Director has been appointed and would see to the development of the HPS in selected sports. Also the first High Performance Centre in West Africa is being built in Abuja and was due for completion in February 2014. Already, the NSC has procured all the equipment required for it. “After the failure of Team Nigeria to win a medal at the London 2012 Olympics, the Presidency with active participation of the NSC organised the first ever Presidential Retreat on Sports. Consultants McKenzie were tasked with putting the retreat together. It held in November 2011, with major stakeholders in Nigerian sports attending. The outcome of the retreat is the blueprint, which provided a holistic framework for sports development in Nigeria. The key recommendations were on funding, private sector participation, management and administration, and developing grassroots sports. “Nigeria developed new election guidelines and code of governance for the administration of sports

Enyimba crashed out that things would be hard because they had not been involved in competitive matches. “I saw the first leg game between Enyimba and Real Bamako and I can say it anywhere that an Enyimba side that was involved in competitive matches would have easily beaten that Malian side,” Eguma said.

HIEF Jonathan Ogufere, President, Associa tion of Sports Veterans, Nigeria, former President of WAFU and founder of Vasco Dagama Football Club of Enugu, mourns today “ a man who put his private Medical Centre at the disposal of Vasco Da Gama so much that the boys became very close to him, appreciated and loved him. “Boys” here include Patrick Ekeji, Obed Ariri, Nwadioha, Okey Emordi, Alphonsus Dike, James Udemba, Innocent Nwankwo and all those who made Vasco tick in those days. Chief Ogufere recalls that in those days, Dr Nwako, a native of Abagana in Anambra State was one of the foremost supporters and promoters of the Club. “ highly versatile, he went on to become the first Vice Chancellor of the Nnamdi Azikiwe University in Awka. “We lost touch only for me to stumble on an obituary in one of the papers last week. This is a great loss and on behalf of Management, Staff and players of the old P and T Vasco Dagama, I pay him a high tribute and bid his soul sweet repose” Chief Ogufere concluded.

So Enyimba is out?

HIS, calls for a National Conference on Sports. This is no joke. When Pillars were ousted, I believed the NFF should be worried and ask why. Now that Enyimba is out, we should be more worried. Last year our four clubs could not go pass the first round. I salute Bayelsa United who on Saturday progressed at the expense of Konzo F.C of Congo. I believe Warri Wolves that did not play at the time I filed in my column will also go through. But what lesson do they have to learn from the crash of the “ big boys?” It is so sad that when the Champions League starts at the so called lucrative level, Nigeria will not be represented. I must confess that given the pedigree of Enyimba and the experience of her Chairman I was very optimistic that Enyimba could still sail through and told Chief Anyansi so. His response was heart warming, vowing to fight to the end. When they went one goal up in Mali, I thought this was it, until they went down fighting in victory, too little too late. So so sad..... See you next week.

Oshaniwa thrown out by Israeli club

Why Enyimba crashed, by Eguma OLPHINS FC manager, Stanley Eguma believes the failure of the Nigeria Professional Football League (NPFL) season to commence on schedule is primarily responsible for the exit of two-time African champions, Enyimba from the 2014 Caf Champions League. Enyimba faltered in the first round of the compe-

federations. The code focused on entrenching the principles of transparency, efficiency and accountability across the Federations while providing a framework that maintains an ethical culture through a committed self-regulatory approach. We implemented the new guidelines for the last elections into the boards of sports federations and many analysts say the elections were the best in recent times “Also, working with the office of the CME and the GTBank, Nigeria is developing a framework for sustainable private-sector-driven Sports Development Fund that explores opportunities in lottery and additional tax on some luxury goods such as tobacco and alcohol.” We have certainly not seen the last of this journalist colleague of mine. Thanks Sir as you move on in life, even as I welcome your successor on to what is believed to be a “ hot seat “

Thanks Bolaji.... farewell Nwako.... Sad sad Enyimba

was not supposed to be shocked by the ouster of Sport Minister Bolaji Abdullahi. Given the political atmosphere, we saw it coming. Some only prayed for a miracle of sorts.....no wonder it made headlines. By circumstance the ex Sports Minister found himself supervising the sports ministry and did so well that he was retained. True to tradition we the “ stakeholders” cried foul when he was appointed. We wondered why one of “ our own “ could not be found to man the ministry. The young man came in at a very difficult time in the life of our football, our sports, waded and weathered through the storm . Restored peace in our warring house of football. With the arrival of Hon Gbenga Elegbeleye, the former vice Chairman of the House Committee on Sports as his DG, sports blossomed to no end. He was pragmatic while he lasted. A positive dreamer, intelligent and full of ideas. Young and optimistic. Am I painting the picture of an angel? Far from it. He had his own foibles, the human that he is, but his positives were exemplary. A few will suffice even as chronicled by his office. “After a hiatus of 19 years, Nigeria won the prestigious Africa Cup of Nations (AFCON) in South Africa in February 2013. The last time the country won the tournament was in Tunisia in 1994. Nigeria’s senior national team, the Super Eagles have also qualified for the World Cup in Brazil 2014. In the final play-off, the Super Eagles beat theWaylas of Ethiopia home and away, and will fly Nigeria’s flag for the fifth time at the World Cup. “Similarly, our Under 17 side, the Golden Eaglets won the FIFA Under 17 World Cup in the United Arab Emirate. It was the fifth time Nigeria would win the tournament. “Under the Minister ’s leadership, there was a repositioning of the domestic football league in line with global best practices. The new League Management Company (LMC) has restored credibility and transparency to the management of the Nigerian Premier League. For the first time in three years, the LMC has been able to secure a title sponsor for the premier league, and attracted broadcast sponsorship to the tune of $34million (for a 4-year deal). Clubs, for the first time in recent years, were also paid for participating in the league. The reform to ensure that Nigeria has one of the best leagues in the world is on going. “In athletics, just like in football and weightlifting, Nigeria has become the number one nation in Africa. Never in the history of African athletics has one nation been the winner of the Senior, Junior and Youth Championships at the same time. Nigeria has won the whole three in the last two years. First we won the Senior Athletics Championship in Port Novo (June 27–July1, 2012), followed by the inaugural Youth Championship in Warri, Delta State (March 2013) and lastly, we won the Junior Championship in Mauritius (August- September 2013). “After a 14 years’ absence on the medals table of the IAAF World Championships, Blessing Okagbare won two medals for Nigeria in the last IAAF World Championship, which took place in Russia in August 2013. She won a silver medal in long jump and a bronze medal in the 200meter race. The last time Nigeria won any medal was at the Seville’99 IAAF World Championship in Seville, Spain, where Gloria Alozie and Francis Obikwelu won a silver medal in the 100m hurdles and a bronze medal in the 200m respectively. “To ensure early identification and discovery of

•Anyansi Agwu

HERE are strong indications that Juwon Oshaniwa’s time with MS Ashdod will come to an end this summer, according to reports in Israel. The 23 - year - old was thrown out of the squad for the league match with Hapoel Tel Aviv on Saturday, having arrived Israel only on Friday night from the United States

where Nigeria took on Mexico in a friendly. According to the reliable Sports Walla, Juwon Oshaniwa has confided in one of his teammates that he plans to leave Ashdod this summer as he has proposals from other teams. It should be noted that the left back is not talking himself into trouble as the higher ups at Ashdod plan to do away with his services.

VANGUARD, MONDAY, MARCH 10, 2014

RESULTS

R-E-L-I-E-F!

Sheffield Utd Hull City

FA Cup 2 Charlton 3 Sunderland

0 0

Juventus Bologna Chievo Inter Lazio Parma Sampdoria

SERIE A 1 Piorentina 0 Sassuolo 2 Genoa 1 Torino 0 Atalanta 2 Verona 4 Livorno

0 0 1 0 1 0 2

No more surgery for Balogun •German medics to the rescue •Player excited at medics verdict Mikel: Eagles will F

•Ezekiel

Ezekiel seals win for Standard

ORTUNA Dussel dorf and new Super Eagles right back,

shine in Brazil M

IKEL Obi has dismissed as rumours reports he could soon be on his way out of Chelsea, insisting he is focused on doing well with his London

Continues on Page 54

Continues on Page 55

•Mikel

Wolves crush Union Douala, face CA Bizertin ARRI Wolves will face CA Bizertin of Tunisia in the second round of the CAF Confederation Cup Continues on Page 54

•Balogun

MOH Ezekiel scored late to seal a comfortable 2-0 win for Standard Liege over visiting KV Mechelen on Continues on Page 55

RVP fishing for Arsenal return — Pg54

•Van Persie

QUICK CROSSWORD

Sudoku TODAY'S

PUZZLE

YESTER DAY'S YESTERDAY'S

ANSWERS

ACROSS 1 Go by (4) 4 Beaker (3) 6 Wisdom (4) 9 Wonder (3) 10 Novice (8) 11 Breed (4) 14 Sever (3) 16 Trivial (5) 19 Dead (8) 21 Renovate (5) 23 Gift (8) 24 Tendency (5) 27 Wand (3) 31 Dingy (4) 33 Unusual (8) 34 Each (3) 35 Mirth (4) 36 Colour (3) 37 Cultivate (4)

DOWN 2 Elderly (4) 3 Uttered (4) 4 Baffled (8) 5 Divide (4) 6 Huge (5) 7 Be indebted (3) 8 Respond (5) 12 Confess (5) 13 Twenty (5) 14 Vehicle (3) 15 Singer (5) 17 Shy (5) 18 Youthful (5) 20 Condemn (8) 22 Lump (3) 25 Rustic (5) 26 Peer (5) 28 Impetuous (4) 29 Courage (4) 30 Bucket (4) 32 Beer (3)

YESTERDAY'S SOLUTIONS ACROSS: 1, Fracas 2, Pillar 8, Business 9, Unit 10, Shy 12, Anger 15, Out 17, Inn 18, Elf 19, Ape 20, Gruff 21, For 22, Lie 23, Eke 24, End 26, Layer 29, Row 33, Idea 34, Deranged 35, Pester 36, Letter.

DOWN: 2, Rough 3, Crib 4, Stern 5, Paste 6, Lout 7, Adieu 10, Scare 11, Yield 12, Angel 13, Gaudy 14, Refer 15, Offer 16, Throw 25, Nudge 27, Adder 28, Enrol 30, Obese 31, Cant 32, Knot.

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: 01-8944295. Advert Dept: 01-7924470; Hotline: 01-4544821; Abuja: 09-2341102, 09-2342704. 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.