OBJ,GEJ's visit to Buhari not to stop anti-graft war by Vanguard Media Limited

...towards a better life for the people

VOL. 25: NO. 62467

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MONDAY, AUGUST 10, 2015

Only kingmakers can Port-Harcourt Refinery to announce Ooni's reduce fuel import by 40% death — Oba Akinruntan 13

OBJ, GEJ's visit to Buhari not to stop anti-graft war

•Presidency says no one can stop battle against corruption 45 I'm resolute in fighting corruption — Buhari

How corruption hit civil service— Asiodu ...Why North rejected secession in 1966

•Pages 47-49

By Emmanuel Aziken, Political Editor & Levinus Nwabughiogu

BUJA—THE presidency affirmed last night that the private visits which former President Goodluck Jonathan made to President Muhammadu Buhari last Thursday followed by former President Olusegun Obasanjo on Friday were not aimed at stopping Buhari’s anticorruption war. The presidency’s Continues on Page 5

Yoruba leadership:

Don't distort history, Osoba tells Obasanjo 10

Mr & Mrs Philip Asiodu

COLUMNISTS:

Aregbesola: The idealist as politician •P.41

Yoyo naira exchange rates and common sense •P.40

FG considering 10% increase in VAT — FIRS

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POCKET CARTOON

RCCG—From left: Pastor Kola Oluwawole, Speaker, Ekiti House of Assembly; Vice President Yemi Osinbajo; Dr Olusegun Mimiko, Governor of Ondo State; Governor Samuel Ortom of Benue State, his wife, Eunice and Major-Gen Abayomi Olonisakin, Chief of Defence Staff, during the Redeemed Christian Church of God 63rd Annual Convention held at Km 46 LagosIbadan expressway headquarters of the church on Friday. Photo: Lamidi Bamidele.

OBJ, GEJ's visit to Buhari not to stop anti-graft war—Presidency Continues from Page 1 clarification followed insinuations in Abuja and some sections of the polity at the weekend that the private visits of the two former leaders to President Muhammadu Buhari were aimed at protecting the interests

of the two former leaders. President Jonathan who handed over to Buhari made his first visit to his successor on Thursday night. The visit only became known following news speculations that were subsequently confirmed

IT'S UP TO YOU BY AYO ADIO

REAT Men have found no royal road to their triumph. It is always the old route by way of industry and perseverance. Every morning in Africa, a gazelle wakes up, it knows it must run faster than the fastest lion, or it will be killed. Every morning a lion wakes up, it knows that it must out run the slowest gazelle or it will starve to death. It doesn’t matter whether you are a lion or a gazelle, when the sun comes up, you had better be running. (African proverb). It is up to you.

TAKE HEART

BY ELLA RANDLE

I can accept failure, everyone fails at something. But I can’t accept not trying — Michael Jordan

ARELY, a dream or goal comes true easily and effortlessly, without delays, challenges or hurdles. It is far more common, however, that you have to overcome many obstacles and suffer some setbacks before achieving any meaningful target. The more ambitious your goals, the more likely it is that you will face difficulties on your way towards it. When this happens, what will you do? Will you just give up? Or will you persist and struggle and succeed? A lot of that depends upon your attitude and experience. Some of it depends upon your skills, network and some other factors as chance, luck or divine intervention. No matter what you’re experiencing, you simply do not give up. When you find work that matters, giving up is not an option. So choose only the kind of work that matters. No, it does not have to necessarily be ‘life saving’ or ‘world changing’. But it should matter enough to you that you will not casually think of abandoning it when a distraction or obstacle crops up.

by Buhari’s spokesman, Femi Adesina, yesterday. Obasanjo also visited the villa last Friday under much secrecy and was said to have met Buhari in his residence within the villa outside the sights of news reporters. Obasanjo’s visit was also alleged to have been after working hours when the president had retired to the residence. Senior Special Assistant on Media and Publicity, Mallam Garba Shehu who also confirmed the meetings like Adesina, claimed ignorance of the details of the meetings. Shehu, however, cautioned against speculations that the meetings were meant to derail any specific investigation of alleged corrupt deals. “The meeting between former Presidents Obasanjo and Jonathan with President Buhari were private and confidential. The president can call them for advice. But it will be unfair for anybody to feel or say it was to stop the war against corruption. The war will continue to go on,” Shehu said. The speculations around the visits were prompted by the focus of security agents on associates of some of the former leaders. Obasanjo had the previous weekend received Hajiya Turai Yar‘Adua, the widow of President Umaru Yar‘adua in his

Abeokuta residence under much secrecy allegedly directed by the former President Obasanjo. Interest in Mrs. Yar ‘Adua’s visit to Obasanjo was upon the investigation of her daughter, Mrs. Zainab Dakingari, the immediate past First Lady of Kebbi State by the anti-graft agency on an alleged crime. Mrs. Dakingari’s husband stepped down from power last May and was believed to have been quizzed by operatives of the Economic and Financial Crimes Commission, EFCC. Obasanjo had in the past played a benefactor role to the Yar‘Aduas and steered the way for Umaru to become his successor in 2007 though the relationship between the two families, however, steadily d e t e r i o r a t e d subsequently as the successor ditched several landmark programmes he inherited from Obasanjo. Jonathan’s visit to

Buhari was also secret and was only confirmed by Adesina, yesterday. Jonathan’s visit aroused concern following affirmation by the presidency that the new administration would probe his government upon revelations of withheld funds, leakages and graft in the financial dealings of the immediate past administration. Before he handed over last May, President Jonathan had, however, urged his successor not

to limit his inquiry to his administration, urging him to extend any possible investigation to administrations before him. Besides the two former leaders, Speaker Yakubu Dogara and his predecessor, Governor Aminu Tambuwal of Sokoto State also met with President Buhari at the weekend. However, multiple sources privy to the meetings affirmed that the visits were strictly private and were of no official imputation.

Senators jostle for committees on petroleum, NDDC, Finance, others By Henry Umoru

BUJA— AHEAD of the composition of the 57 Standing Committees in the Senate, most of the Senators have indicated their interest to serve on some very juicy committees such as Petroleum Resources, Committee on Petroleum Downstream, Niger Delta D e v e l o p m e n t Commission, NDDC and the Federal Capital Territory, FCT. The Committee on Downstream oversees Refineries, Pipeline and Petroleum Products Marketing; Nigerian National Petroleum Corporation, NNPC, Ministry of Petroleum Resources, Oil Subsidy, Petroleum Products Price Regulation, annual budget estimates. Vanguard gathered that other committees that the Senators would want to either be chairmen, Vice Chairmen and members are Committee on Finance which oversees Customs and Excise, Federal Inland Revenue Service, FIRS; Committees on Marine Transport, Inter Parliamentary Affairs, Works, Power, Steel Development and Metallurgy. It was also gathered that

besides these very strong committees, others where senators indicated interest to serve were Education, Internal Affairs, Police Affairs, Navy and Army. However, committees like Media and Public Affairs, Local and Foreign Debts, National Identity and National Population, Information, Women Affairs and Youth Development, among others did not have enough patronage. Meanwhile, there are indications that senators will on Thursday this week proceed on another recess that will last six weeks. The senators at resumption of plenary after the election of Senate President Bukola Saraki and his deputy, Senator Ike Ekweremadu, June 9, went on recess June 10 and resumed June 23. On June 25, they went for another recess and were scheduled to resume July 21, but one week was added and they resumed July 28. By Thursday this week when they would be proceeding on recess, the lawmakers would have sat for 14 days. It will be recalled that Senate President Bukola Saraki had disclosed last week during plenary that forms would be

distributed to senators to indicate interest in their choice committees. Saraki who noted that every lawmaker has the liberty to belong to more than one committee, stressed that they were free to also make suggestions after studying the forms. According to him, “Senators are advised to fill the forms indicating their interest in belonging to the committees of their choice and it is a maximum of five committees per senator. “The forms will be distributed by the Clerk. You can also take a look at the form and make your submissions to the leader of the Senate.” The office of the Clerk of the Senate and that of the Senate leader, Senator Ali Ndume have been very busy collating the forms. It would also be recalled that the Senate President had named chairmen and members of three special committees and one adhoc committee. The three committees were Senate Services Committee, Rules And Business Committee; Ethics And Privileges Committee; and Media, Information And Public Affairs Committee.

6—Vanguard, MONDAY, AUGUST 10, 2015

Iyaloja General’s alleged killer docked By Daud Olatunji

BEOKUTA—OGUN State Commissioner of Police, Abdulmajid Ali, has disclosed that the suspected killer of Iyaloja-General of Ijebuland, Alhaja Saidat Elewuju, has been arrested and charged to court. Elewuju was killed on Wednesday July 8 in her home in Ijebu Ode. Ali also paraded 23 suspects yesterday, among whom were ritualists, cultists, kidnappers and murderers, at the state command headquarters, Eleweran, Abeokuta. The Commissioner also said his men would soon catch the suspected ritualist linked with the abduction of a 20-monthold baby, Opeyemi Ogundele, Chief Olasile Ifayemi. He said his men almost caught him in his hideout in Lagos, but that he escaped. He said: “We will get him. Many developmental activities have taken place in the state; so many companies are in the state and some expatriates are here. “These activities might scare them. We want to make sure we protect them.” Meanwhile, Ali paid a visit to his Lagos State counterpart, Fatai Owoseni, saying the visit was to deliberate on vital security issues towards effective policing of the two prominent commands.

Security operatives weep as Edo IDPs resist relocation attempt By Simon Ebegbulem

ENIN—ARMED security operatives deployed, Saturday evening, to the internally-displaced persons, IDPs’ camp in Edo State, with the aim of evacuating them, broke down in tears as weeping children ran helterskelter in the rain, begging to remain in the camp. They told the over 50 security operatives that they were being taken care of by the missionaries in the camp, spear-headed by the Pastor

Solomon Folorunsho-led Overseer of International Christian Centre for Missions. The emotional operatives, including policemen, National Security and Civil Defence Corps, NSCDC, Department of State Services, DSS, and the Army, who wanted to effect their relocation to Kano and Jigawa states, suspended the action, as the pleas and cries of the over 1,000 IDPs got to them. It was a pitiable sight. Pastor Folorunsho, who Vanguard gathered had been interrogated for several weeks

both by the police and DSS, watched helplessly as the security operatives attempted to relocate the IDPs. He also wept profusely, pleading with the security agents to allow the victims, mainly children, remain in the camp, which had become a home to them. Though Folorunsho refused to give details of the operation, he, however, said: “God knows we are here only to do his work by taking care of this displaced children. That was my calling. “We do not have any security

Multiple accidents at Doyin Bus Stop, Orile-Mile 2 Road, Lagos, yesterday. PHOTO: Gabriel Olawale.

Mother of 7 accused of stealing day-old-baby By Daud Olatunji

B E O K U T A — DETECTIVES attached to Ewekoro Division of Ogun State Police command, have arrested one Adebola Titilayo, a nurse and owner of a private health facility at Arogun village, Ewekoro Local Government

Area of Ogun State, for allegedly stealing a-day-old baby boy after taking his delivery. The Police Public Relations Officer in the state, Muyiwa Adejobi, disclosed in a statement that the suspect committed the crime on Friday, immediately she took delivery of the baby in

the facility. According to Adejobi, the nurse had lied and deceived the mother that she had a stillbirth. However, nemesis caught up with her when the mother got reliable information that her new baby boy had been sold out and she immediately informed the police.

DETAINED POLICE OFFICERS: They deserve commendation not incarceration, wives appeal to IG By Emma Una

ALABAR—WIVES of the 11 policemen, who have been in detention for the past 12 months at Cross River State Police Command headquarters have cried out to the Inspector General of Police, Mr Solomon Arase, to release their husbands and save their families from pain and psychological trauma. The women, led by Mrs Janet Ewa, wife of ASP Raphael Ewa, visited Vanguard office yesterday, after their weekly prayer sessions for the release of their husbands, said their

issue here and I pray that government allows these children remain because they are already in school. They see this place as home now, so it is going to affect their psyche if they are relocated.” However, Vanguard learned from a security source that the decision to relocate the victims came from the Presidency. It was learned that the Federal Government was planning to get a correct data of IDPs across the country and, therefore, planned to relocate all of them to Kano and Jigawa states.

husbands, who had put in several years of meritorious services for their fatherland, were now being humiliated and disgraced after they staked their lives in fighting crime in Calabar. Narrating to Vanguard the circumstance that led to the prolonged detention of their husbands, Mrs Ewa said on April 17, 2014, at about 2.30a.m., the officer in charge of the Special Anti-Robbery Squad, ASP Horsefall Minafuro, received a distress call that armed robbers were operating at Atimbo, in the

eastern axis of Calabar and the man, along with 11 other operatives, went to the scene. She said: “The robbers engaged the SARS squad in a gun battle and six of them were killed, while others escaped.” She said police recovered firearm, expended ammunition and a Kia Picanto car from the robbers, which were taken to the police headquarters as exhibits. She added: “One of the mothers of the robbery suspects, to avoid stigma, generated a case of kidnapping against one of the

SARS operatives, which eventually metamorphosed to the incarceration of our husbands for over 12 months.” The women said their husband's salaries had been stopped since September 2014, saying this had inflicted severe hardship on them and their children and wards, who had to drop out of school, adding “ we appeal that you kindly listen to the supplications of your daughters and sisters and release our husbands, who have done police and their fatherland proud.”

The PPRO said: “Sympathisers in the community noticed that the nurse (suspect), who was never pregnant, suddenly started nursing a baby that she could not even breast feed. They informed the mother who later reported the case to the police at Ewekoro on August 7. “In the course of police investigation, it was revealed that the suspect, a mother of seven, had issues with her initial marriage and got married to another rich man, who the nurse wanted to have, at least, a baby for, for reasons known to her. “The police operatives have recovered the baby alive and unhurt. The suspect has, however, given credible statement that will assist the police and the matter will soon be charged to court. “The state Commissioner of Police, Abdulmajid Ali, has commended the operatives for a good job and charged owners of hospitals or maternity homes to operate legally and always employ credible and trusted nurses and staff.”

Vanguard, MONDAY, AUGUST 10, 2015—7

Nigerian returnees from Cameroon at Adamawa transit camp waiting to be taken to their permanent camp by National Emergency Management Agency, NEMA, in Yola, yesterday. NAN PHOTOS.

14 die in Ebonyi road accident By Peter Okutu

BAKALIKI—NO fewer than 14 persons were weekend reported to have died in a ghastly road accident at Amasiri Secondary School junction along Afikpo-Okigwe federal highway in Ebonyi State. The accident, which occurred around midnight, involved an articulated vehicle and a 14seater bus conveying members of Assemblies of God Church, Isu, in Ohaoazara Local Government Area from a burial. Mr. Roland Ogbuke, Afikpo Unit Commander of Federal Road Safety Corps, FRSC, confirmed the accident. He said: “We received a distress call early morning of the accident, and I mobilised my rescue officers immediately to the scene of the carnage. “Sources informed us that the articulated vehicle driver was trying to dodge a heap of sand on the road, but hit the oncoming bus which was in a convoy of vehicles, and crushed it against a tree some metres away from the road. “A nearby quarry company used its heavy duty machine to cut the tree and parts of the bus before we could evacuate the mangled bodies of the passengers.” Ogbuke remarked that the crushed passengers were mostly women and that their relatives and church members who were in other vehicles joined in the evacuation. He added: “Police particularly assisted FRSC in evacuating the

zAvoid night travels, FRSC warns bodies to the Mater Misericordae Hospital, Afikpo, because our vehicle developed serious fault on the way. “We urge citizens of the state whose relatives failed to return from a journey on Saturday to

visit the hospital to identify corpses of the relatives. “We urge the public to imbibe road safety practices by shunning night journeys, over speeding, among other practices that negate road safety

Woman abandons baby in day-care By Esther Onyegbula

AGOS—A woman has reportedly abandoned her baby in a day-care centre located at Isawo road, Oke-Afa, Agric, Ikorodu, Lagos, for over three months. It was learned that the woman, identified as Soloja Ayobola, came to God’s Care Nanny on January 18 with her seven-month-old baby to make enquiries about how the centre operates. Thereafter, she was said to have been given a form which she filled and promised to bring her passport in her next visit, but never did. Mrs Elizabeth Oyeshile, who runs the day care facility, said the woman described herself as a politician and a member of Peoples Democratic Party, PDP, and that because of the nature of her work, she travelled mostly during weekends for political campaigns and rallies. Oyeshile said the woman kept her baby, Mofeoluwanifemi Amos, in the facility on Thursday morning and said she

Mofeoluwanifemi Amos. would take her back on Monday. Oyeshile said: ‘’The arrangement was that she will be keeping the child during the week, while the centre will take care of the child weekends and we agreed on a weekly payment. ‘’She came to the day-care centre about three times before actually putting her baby at the centre for the first time on Thursday, January 22.” Vanguard gathered that sometime in March, Ayobola came with her male friend

Cult war claims 3 in Makurdi By Peter Duru

AKURDI—NO fewer than three persons were feared dead in Makurdi, Benue State, following last Saturday’s bloody clash among rival cult gangs and members of a vigilante group in the city. Vanguard learned that the clash left about six persons with injuries, including an Indian national (names withheld), who was allegedly shot in the head. According to a source, the

regulations.” “I call on relevant authorities to expedite action on reconstruction works on roads in the area and across the state to save innocent loss of lives in avoidable carnages,” he said.

fight for supremacy by the cult groups started at the Welfare Quarters area of the city, where no fewer than three persons were shot, including members of the vigilante group who had intervened in the fight. The source said: “They have turned Welfare Quarters into a den of arms wielding cultists. It is unfortunate that law enforcement agencies are turning a blind eye. “Yesterday, the cult groups in the area engaged each other in

a bloody fight that left three persons dead, and many injured, while families fled their homes for fear of being killed by arms wielding young men. “In a bid to stop an escalation of the fight, the vigilante group on duty in the area tried to stop members of the gangs but some of them were shot.” State Police Public Relations Officer, Assistant Superintendent Austin Ezeani, confirmed the incident, saying police recorded two deaths.

(names withheld) to the daycare centre. While introducing the man to Elizabeth Oyeshile, the woman was said to have explained that whenever she was not around, her male friend would be paying the bills for the baby’s upkeep but the man refused. It was learned that he only provided diapers for the baby until May, when he stopped. Vanguard learned that on April 5, Ayobola came to the daycare centre and complained that it was becoming burdensome to pay the bills weekly and that she would be paying at the end of the month and deposited N10,000 part payment, which was the last payment she made. Mrs Oyeshile said: “The last time Soloja Ayobola came to the day-care was on May 25. I asked her to take her baby since she was finding it difficult paying for her upkeep. “She pleaded that she will be coming regularly and also promised to come with my money on Friday, but she didn’t. “Since she abandoned her child at the facility, I have called her several times but she refused to pick her calls. The baby, who was seven months old when she brought her is now a year and three months old. I did not know what to do. “It was when I lost my sonin-law three weeks ago that family and friends, who saw the baby when they came to pay condolence visit, advised me to take the baby to the police and report the case.” Vanguard gathered that nobody knows the whereabouts of Soloja Ayobola, having relocated from her place of abode without notifying anyone.

Man, 30, arrested over abduction of 82-yr-old woman By Dayo Johnson

K U R E — DETECTIVES in Ondo State Police Command have arrested a 30-year-old kingpin of a gang of kidnappers, identified as Sunday Omojugba, who abducted an 82-year-old woman. The suspect was picked up after he collected a ransom of N3 million from the family of his victim, identified as Madam Olamodesi Theresa Akindeju. Madam Akindeju was abducted in her residence at Igbotako, Okitipupa area of the state. Vanguard gathered that the suspect was arrested by detectives from the Special Anti-Cultism Squad, SACS, in his hideout at 5, Ego Eduwo quarters, IluTitun area of the state. Police source said he had confessed to being a cultist and was involved in other violent crimes in and outside the state. Vanguard was informed that the detectives, acting on a tip off, stormed his hideout after his gang members collected the N3 million ransom for the release of the old woman. Other members of the gang, it was gathered, had earlier been arrested and remanded in prison custody at Olokuta, Akure. Police spokesman, Wole Ogodo, said the suspect would soon be arraigned in court after the completion of investigation. In another development, 21 years old Kunle Akinyemi has been reportedly stabbed to death by his friend at Okitipupa, Ondo State, over an argument. The deceased was reportedly stabbed in the chest by his friend, identified as Dele.

8—Vanguard, MONDAY, AUGUST 10, 2015

Pressure mounts on economy as oil price, external reserves drop further By Emeka Anaeto, Economy Editor

AGOS— THE nation’s economic challenges may have taken further negative turn, weekend, as external reserves declined further while oil prices dropped significantly in the international market. Last weekend, Nigeria’s external reserve declined to $31.55 billion, losing about $350 million month-on-month. This development is coming despite recent efforts of the Central Bank of Nigeria (CBN) to stabilize the external reserves, a key indicator of economic health. It is also coming just as the benchmark crude oil price (Brent) declined 5.5 per cent to $49.45 while the

OPEC Basket price slumped 6.7 per cent to $47.10 amidst global oil glut last weekend. The external reserves position measures a country’s sustainable ability to finance its imports and the volume is determined by interplay of inflows from exports (oil export income in case of Nigeria) and outflows in form of foreign exchange deployed to importations. Consequently, external reserves decline means outflow is exceeding inflow. Responding to this negative inflow- outflow interplay, CBN had eliminated 41 items from its foreign exchange supply window last month and last week it also ordered banks to pay for forex demands upfront. CBN

continues to resist pressure to devalue the Naira. Emefiele had told the Senate in the first week of July that reserves had gone up to $31.9 billion from $29.1 billion attributing the positive development then to President Muhammadu Buhari’s measures of plugging leakages in the economy. But barley one week after this presentation, the reserve began to decline prompting the apex bank to take several counter measures which seem not to have worked except the depreciation of the Naira in the black market which was halted but fluctuating last week. Speaking at the Senate, Emefiele had said:

“Reflecting the sharp fall in oil prices and speculative foreign exchange activities, external reserves declined from $37.3 billion in June 2014 to $29.1 billion as at the end of June 2015. Given our understanding that the fall in oil prices may not be transitory but permanent, and that some speculative activities were going on in the forex market, the CBN took a number of proactive countervailing actions. “At the heart of the issues that currently confront our nation is the need for us to diversify the structure of our economy from being import dependent to being an economy that produces what she consumes."

Stakeholders fault FG over non-publication of accident reports By Daniel Eteghe

AGOS — EXPERTS in the aviation industry have condemned the Federal Government for not allowing Accident Investigation and Prevention Bureau, AIPB, to publish most of the accident investigation reports in the country. They argued that in other parts of the world, accident reports were published in form of a book to enable pilots as well as the general travelling public know why accidents happened in order to avert a recurrence. Former Nigerian Airways pilot and General Manager of defunct Concord Airlines, Captain Samuel Adewumi, said it was necessary for AIPB to publish accident reports for public consumption. Captain Adewumi affirmed that when the reports were in the public domain, it would help to inform them on how to also be vigilant to ensure that developments that could endanger safety were averted. He called on the National Assembly to pass favourable laws that would make it compulsory for AIPB to publish accident reports. He said: “The AIB since I knew them in 1978, has never published any accident report. When they investigate, they should publicise it; people should buy the books and read what happened. The engineers and the management have to be aware of what is happening in all the departments.” According to him, an incident occurred in Miami, Florida, United States of America, involving a $60 million Boeing 747 aircraft in 2001 which made a turn around in the ocean and the incident was reported and published, indicting the

CONFERENCE: From left, Founding Director, Downdeep Energy Limited, Mr. Promise Egele; General Manager, Eunisell Solutions, Engr. Patrick O’Callaghan and former Special Adviser on Petroleum Matters and SPE Director, Africa Region, Dr. Emmanuel Egbogah at the 39th Society for Petroleum Engineers Conference and Exhibition, in Lagos. engineering department for forgetting to put the oil seal in the four engines of the aircraft. He said it was expected of the AIPB to publish all accident reports, adding that was an avenue to get the truth of what happened during. Also speaking, former Head of Flight Operations, Medview Airline, Captain Henry Olawole, wondered why accident reports were not published in Nigeria, stressing he saw no reason such reports should be kept secret. Captain Olawole further said in the western world, every accident report is published for the public to be aware of the cause of the accident. He said: “You can easily go

online and read accident reports of any airline in the western world but here, they are keeping it a secret. So the question the press should be asking is: why are they (AIPB) not publishing it; why are they keeping it a secret. "It is not punitive and it is not meant to punish anybody, it is to help flying pilots to learn from the mistakes of other co-pilots and prevent such accident in future. "Sincerely, I wonder why they don’t publish accidents reports in Nigeria, maybe they don’t want the public to know, including pilots.” Sheri Kyari, a member of the National Association of Aircraft Pilots and Engineers, NAAPE, noted that it was necessary for

the AIPB to release it reports as that would better the lots of the industry. He further stressed that it was better if the agency organised a stakeholders’ meeting before publishing its reports so as to have inputs from other stakeholders concerning that particular report. He said: “The most important thing is that one would have expected the AIPB, once or twice in a year, hold a stakeholders’ meeting and then explain their work to the industry. ‘’Then in that area, you can also talk about passing your reports to stakeholders so that they can learn from what has happened, even if they are just incidences."

My agenda for Air Force — Abubakar, CAS By Esther Onyegbula

AGOS — CHIEF of Air Staff, CAS, Air Marshal Sadique Abubakar, weekend, disclosed that his agenda for the Air Force is to have a highly professional service that respects the rights of everyone and can deliver in their constitutional duties. Abubakar, who spoke during his familiarization tour of the Logistics Command and some other units in Lagos, weekend, said the military is currently restrategizing its tactics in the war against insurgency in the North-East. He said: “We are identifying those strategies that we need to discard that are not working for us, especially with regards to how we are operating in the North-East. “With what I have seen, I am very happy with the situation on ground. We have identified areas that we need to improve upon and we will go ahead to start doing something about it. “We have our airplanes that are patrolling the NigerianCameroonian border particularly at all times and we have intercepted quite a number of people that are smuggling petroleum products to support the insurgents and we have engaged them on a number of occasions.” He also faulted those who argued that the military is not winning the war against insurgency, saying: “I don’t want to say we are not winning this war. I think we are. What we are simply doing now is to re-strategize. We are going through all the activities that have happened in the past and the idea there is to re-evaluate these ideas and see the ones we need to improve upon. “That is why I am going on the tour. We started with about 16 operational units that are directly involved in the war in the North-East but we also recognize that without logistics you cannot fight war. “We need the logistics support to carry out our operations. So what I have seen on ground is highly committed personnel that are working to ensure that whatever logistics support we need to execute the war in the North East is given to us. “We need to have a highly professional service that is prudent in management of resources, a service that is highly disciplined and have innovative ideas. “We are working on welfare programmes from accommodation, medical services for our personnel and the children of our personnel too.”

Vanguard, MONDAY, AUGUST 10, 2015—9

FG considering 10% increase in VAT —FIRS

zPlans to stop tax evasion zIt’ll worsen poverty level in Nigeria—Expert By Omoh Gabriel & Clifford Ndujihe

AGOS — THE Federal Inland Revenue Services, FIRS, weekend, said the Federal Government is considering a review of Value Added Tax, VAT, with a possible increase from five per cent to 10 per cent. It also stated that government would take a drastic measure to stop tax evasion as there are moves to capture the revenue flow of companies and individuals to make it difficult for anybody resident in Nigeria to operate an account without Tax Identification Number (TIN). Chairman of the FIRS, Mr. Sunday Ogungbesan, who disclosed this, said: “Federal Government would soon take a decision on the VAT system after engaging with stakeholders on the need to increase it in order to make up for the shortfall in crude oil revenue. The plan is to increase to 10 percent this year but we have to consult first with relevant stakeholders.” VAT is a tax on spending. The tax is borne by the final consumer of goods and services because it is included in the price paid.

It’ll worsen poverty level in Nigeria —Expert

Commenting on the issue, a public affairs analyst, Chris Udoh M’Enin, advised the Federal Government to drop the proposed idea of increasing VAT. Cautioning the government against poorly conceived ideas, M’Enin asked the governments to tell Nigerians the value they have given to the people with the five per cent they are already receiving. His words: "Original design of VAT was to be input-output tax whereby the business collects VAT for vatable services it offers (output) and pays VAT for vatable services it receives (input). At the end of the day, the business was supposed to deduct what it pays out from what it collected as VAT and hands the difference to government. But today, both the input and output VATs go to government, thereby heaping more burden on the consumers. "Technically, the government is using VAT to forcefully reduce the quantity and quality of food that the masses put on their tables everyday because whatever VAT a

service provider pays is automatically passed on to the consumers in the form of increased prices. "For instance, Mr Jonathan earns N20,000 per month. A basin of garri is N5,000. With 10 per cent VAT, his garri becomes N5,500 a basin. Mr Jonathan will have no other option except to reduce the quantity of gari that he consumes or reduce the quantities of goods and services his remaining N15,000 could buy. Note also that he would need N16,500

to satisfy his original N15,000 consumption. "Therefore, with his fixed income at N20,000, the consumer would need N22,000 to maintain the same level of consumption that he had. But because his income is fixed at N20,000, he needs to reduce his consumption by about N4000 to meet up. "My suggestion is that FIRS/ government should forget about any tax increase for now but should implement policies to increase the production base and employment so that

unit consumption can increase and by extension increase total VAT and payee taxes. "If you have y consumption units bring in Nx VAT at five per cent, you can use production/employment to increase consumption units to 2y and earn 2Nx at the same five per cent VAT. Government should not look for quick and easy ways of making money because they hurt the masses. They should be creative and strategic in their thinking and actions." zSee more on page 17

VICTORY PARTY: From left: Member, House of Representatives, Lado Suleja; Majority Leader, Femi Gbajabiamila; representative of Lagos Governor, Mrs Adebunmi Adekanye, and Rep. Rabiu Kaugama, at a welcome and victory party for Gbajabiamila, in Lagos, yesterday. Photo: NAN

NIMASA: DSS may take over investigations from EFCC By Emmanuel Aziken

AGOS — THE Department of State Services, DSS, is set to take over investigations into the affairs of the Nigerian Maritime Administration and Safety Agency, NIMASA, under its immediate past Director-General, Dr. Patrick Akpobokemi, from the Economic and Financial Crimes Commission, EFCC. Both security agencies, it was learnt at the weekend, were set for a head on collision over who should take the lead role in the investigations into the agency during the regime of its immediate past boss, Akpobokemi, who was sacked by President Muhammadu Buhari more than one month ago.

It was gathered that the EFCC was the first to commence investigations into the agency with its agents combing the books of the maritime regulatory agency immediately Akpobokemi was sacked by the president. The former director-general was believed to be a close ally of former President Goodluck Jonathan. Apprehension was, however, said to have been raised recently following alleged moves by the DSS to take over the investigations from the EFCC which, according to some sources, has been on for the past three weeks. The basis of the DSS involvement, it was gathered, was the alleged security concerns that may flow out from deep scrutiny of the agency.

The involvement of the DSS, it was gathered, may also not be unconnected with alleged past links between the former director general and Niger Delta activists who before the last presidential election promised unsavoury reactions to the possible defeat of Dr. Jonathan. A source privy to the development said, weekend: “It means, therefore, that with the loss of the former president, who is their man, in the last presidential election, the leadership of that platform of which the former DG was a player might want to have ulterior motives. “As far as the DSS is concerned, the issue of security is far more important than what the EFCC is pursuing without result for the last three weeks or so.”

Meningitis: Nigerian children at high risk zAs shortage of vaccine lingers By Sola Ogundipe & Chioma Obinna

AGOS — LOCAL and international health officials are worried that Nigerian children may be the worst hit in the lingering shortage of meningitis vaccine in Nigeria and some parts of African countries following possible outbreak of child meningitis in some African countries. Their worries may not be unconnected with the fact that the only certified vaccine laboratory in the West African sub region is currently defunct. Already, reports from the World Health Organisation, WHO, revealed that this year, 800 people have died out of the 12,000 infected in Nigeria and Niger Republic in the first large-scale outbreak of the C strain of the meningitis virus. The WHO had earlier warned that meningitis cases have been increasing since 2013, and that an outbreak of the disease in parts of Africa was imminent. Vanguard gathered that currently, health officials are making efforts to bridging the wide gap created by the vaccine shortage, amid demands for the reopening of the defunct Federal Government vaccine laboratory located in Yaba, Lagos. Investigations revealed that even though local health officials are seeking to stockpile five million doses of the vaccine, the manufacturers cannot meet the demand. However, efforts to reach government officials, weekend, for an update proved abortive as their phones were switched off. When Vanguard finally reached the Director of the Nigeria Centre for Disease Control, NCDC, Prof. Abdulsalami Nasidi, on phone, he said he was attending a meeting in Dakar but confirmed that the shortage was global not peculiar to Nigeria. Nasidi, who had once headed the defunct laboratory as far back as 1980s had earlier expressed fears over the potential number of fatalities that could result in the event of a meningitis epidemic in the midst of a vaccine shortage.

10 — Vanguard, MONDAY, AUGUST 10, 2015

Ladipo market traders, council settle dispute By Tony Nwankwo

AGOS—TRADERS under the umbrella of the Ladipo Auto Spare parts Dealers Association, Ladipo Main Market, were yesterday reported to have settled the rift arising from re-development of the market. This followed the intervention of concerned Igbo leaders, who appealed to the warring groups to sheathe their swords for peace to reign in the market. A statement signed by the Information officer of Mushin Local Government Authority, Mr. Olusegun Akinyemi, said the Executive Secretary of the council, Mr. Babajide Bello, had emphasised that the allegation that Mushin local government was interested in taking over the market was untrue. According to him; ‘’Although the Market belongs to the local government, it was concerned about the general well-being of the traders, who are its tenants.'' According to the statement, “When the market is finally redeveloped, it is these same traders that will occupy the place. Every genuine shop owner in the place will have their shops back without stress,’’ he said.

YORUBA LEADERSHIP: Don’t distort history, Osoba tells Obasanjo By Monsur Olowoopejo

AGOS—FORMER governor of Ogun State, Aremo Olusegun Osoba, has condemned former President Olusegun Obasanjo’s position in his book, My Watch: Political and Public affairs, that there had never been any Yoruba leader, saying “He (Obasanjo) wants to distort the history of the Yoruba.” Obasanjo made the assertion in chapter 31 of the book, where he explained issues centred on Nigeria and Yoruba, arguing that there was no individual as Yoruba leader before and now. Osoba, in an interview in Lagos, lamented that the declaration by the former President, who was present at the event when late Chief Obafemi Awolowo was ‘unanimously’ elected as the ‘Yoruba Leader,’ on August 12th, 1966, is worrisome. According to him, “I disagree with the former President, on whatever claims he made that Awolowo was hand-picked by some of his supporters. In fact, the day he was elected as Yoruba leader was two weeks after Awolowo was released from prison by the military.

VISIT: Governor Akinwunmi Ambode of Lagos State (middle) flanked by newly-elected Nigerian Union of Journalists, NUJ, President, Mr. Waheed Odusile (2nd left); Chairman, NUJ, Lagos chapter, Mr. Deji Elumoye (right); Secretary, NUJ, Lagos chapter, Mrs. Bimbo Oyetunde (2nd right) and Treasurer, Kehinde Ajayi during Odusile's courtesy visit to the governor, at the Lagos House, Ikeja. “As the garrison commander in Ibadan at the time, Obasanjo was an active member of General Adeyinka Adebayo’s erstwhile cabinet. I do not think that Obasanjo would have forgotten so soon the sequence of events that threw up Awolowo as Yoruba leader.

“I was present at the forum where Late Chief Awolowo was unanimously elected the Yoruba leader. And the election involved all stakeholders, including political, cultural and intellectuals in Yoruba land. Some who did not belong to Awolowo’s political camp also endorsed him,” Osoba added.

Osoba however said that Yorubas cannot have a single leader under current political dispensation. “What we can have at the moment is ‘cultural’ leader not an overall leader. By our level of education, exposure and independent mindedness we like to express our views.''

RCCG ordains 1,184 pastors, dedicates auditorium By Sam Eyoboka & Olayinka Latona

T exactly 8.20 a.m. yesterday the arguably fastest growing pentecostal church in the world, the Redeemed Christian Church of G o d opened a n e w epoch as t h e General

Overseer, Pastor Enoch Adejare Adeboye publicly dedicated the church’s new nine square kilometre auditorium on a hill situated between Shagamu in Ogun State and Ikorodu in Lagos State. The new vista marked the grand finale of the church’s 63rd annual convention, which began one week ago. Apart from the ordination of 1,184 pastors, who had the privilege of being the first set to be so honoured on the hilly

arena, a total of 70 elders were also ordained. The service began with an opening prayer by the Vice President, Prof. Yemi Osinbajo, who is also a pastor with the church, who used the occasion to appreciate God for the gift of a new auditorium and successful conclusion of a wonderful convention. Praying for the ordainees, Pastor Adeboye described them as unique and special, being the first set to be ordained in the new auditorium and

urged all church members to continually pray for them to be successful in their callings. According to him; “This set of pastors are special as they are the first to be ordained in this auditorium. I pray that whatever you bind on earth will be bound in heaven; whatever you loose on earth will be loosed in heaven. You will not fail, God will stand by you, uphold you and you will stand till the very end.”

UNPAID WAGES: Maritime workers suspend planned strike By Victor AhiumaYoung

ARITIME Workers Union of Nigeria, MWUN, weekend stopped the planned shutdown of the nation’s ports after it said the management of Nigerian Ports Authority, NPA, signed necessary papers to ensure payment of outstanding wages to dockworkers from today. President of the dockworkers’ branch of MWUN, Mr Adewale Adeyanju, said the signing of the papers took place Thursday night after a marathon meeting by stakeholders and a letter from the Ministry of Transport to the

management of NPA, urging it to ensure immediate payment of the wages to avert industrial unrest in the nation’s ports. MWUN had threatened to begin indefinite industrial action by Friday after NPA allegedly refused to endorse

the payment of the wages of the dockworkers, especially tally clerks and on-board security men in the last eight months. According to Adeyanju: “All the papers have been signed by the management of NPA and it is expected

that the payment will begin from Monday (today). Because of that, we are suspending the planned strike, hoping that the backlog of wages will be paid before the end of the week to avoid unnecessary tension in the ports.''

SERAP wants Buhari to halt IDPs eviction from Abuja By Abdulwahab Abdulah

RESIDENT Muhammadu Buhari has been petitioned to urgently intervene by preventing the forceful eviction of internally displaced persons (IDPs) in WASU IDP camp in Apo

District of Abuja or any other camp across the country. A non-governmental organisation, SocioEconomic Rights and Accountability Project, SERAP, in an open letter by its executive director, Tokunbo Mumuni to the President, said the threat to evict the people from the

camps contravenes natural justice and the provisions of the constitution. In the letter dated 7 August 2015, SERAP expressed concern that unless the president urgently intervenes, the IDPs may be rendered homeless and left without water, food or other critical assistance.

Vanguard, MONDAY, AUGUST 10, 2015 — 11

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12—Vanguard, MONDAY, AUGUST 10, 2015

Group blames DESOPADEC problems on political interference W

By Emma Amaize

ARRI—THE Centre for the Vulnerable and Underprivileged, CENTREP, Warri, Delta State, has said that political interference and not restructuring was the problem of Delta State Oil Producing Areas Development Commission, DESOPADEC. Reacting to the recent passage of the amended DESOPADEC bill by the Delta State House of Assembly, the group, said: “We are not oblivious of the fact that undue political interference accounts for the earth quaking level of corruption, greed and mismanagement afflicting the commission.” Executive Director of CENTREP, Mr. Oghenejabor Ikimi, in a statement, said that the mandate of DESOPADEC was to develop oil-bearing communities with 50 per cent of the 13 per cent derivation fund accruing to the state from the Federal Government. “Restructuring DESOPADEC like NDDC would not by any stroke of imagination reposition the commission, as NDDC even

with her present structure is riddled with massive corruption, greed and mismanagement. “There is undue political interference in the day-to-day management and finances of NDDC by both the Presidency and members of the National

Assembly under the watch of exPresident Goodluck Jonathan, hence the urgent need by Governor Ifeanyi Okowa to insulate DESOPADEC from politics by appointing tested technocrats to man the commission to realize its mandate.

“We make bold to state that as long as the day to day running and finances of DESOPADEC is subjected to undue political interference whether it is structured like NDDC or otherwise, the commission would remain a cesspool of corruption as it was the case under the ex-governor's watch.”

AWARD: HRM, Asagba of Asaba, Prof. Chike Edozien (left) and Parish Priest, St. Joseph Catholic Church, Asaba, Rev Father Patrick Isichei, during the presentation of award for community development, to the priest by the monarch as part of activities to mark his 90th birthday in Asaba, yesterday. Photo: Nath Onojake.

2016: APC chieftain tasks Oshiomhole on disunity among members in Edo Central By Simon Ebegbulem

ENIN CITY—AS campaigns for the 2016 governorship election in Edo State intensifies, a chieftain of the All Progressives Congress, APC, in the state, Mr Mathew Emhiohe, has lamented what he described as the disunity among leaders of the APC in Edo Central senatorial district and appealed to Governor Adams Oshiomhole to find a solution to the problem so as to save the party from defeat next year. According to him, the APC needs a leader in Edo Central, one who will serve as a rallying point for members of the party, “Just like the Peoples Democratic Party, PDP, has Chief Tony Anenih in Edo Central, we lack that sort of coordination and that is affecting the APC in Edo Central.” Emhiohe who addressed journalists in Irrua, Edo State, said: “My worry is that APC in Edo Central is seriously divided, we are not as united as we were during the past elections. What I fear is going to kill us in the district is the division and disunity among leaders of the party. We have many factions, you cannot get a leader to call a meeting where every other leader will honour and attend. “The only leader that can summon a meeting of APC leaders in Esan land is only the governor, Oshiomhole, but he is not an Esan man, and cannot be an Esan leader. I see former

Governor Osarhiemen Osunbor as someone who can bring everybody together and serve as a rallying point. But I understand he is nursing a governorship

ambition, if not he would have played that role better. “We need somebody of the calibre of Chief Anenih. Any patriotic Esan man will be happy

to have the next governor come from the district but right now, it is not going to work because we need the kind of leadership that will lead us and be a rallying point."

NUPENG arm targets maritime security as major policy direction

ARRI—THE branch national Chairman of Marine Equipment and Oil Suppliers, MEOS, an arm of National Union of Petroleum and Natural Gas Workers, NUPENG, Mr. Best Ose, has said that the major aim of the body is to compliment the efforts of conventional security agencies in the maritime sector, especially in the oil and gas industry. Ose at NUPENG House, Delta State during the inauguration of the six operating units of MEOS in the state, said that MEOS would continue to partner NIMASA, the Nigerian Navy,

DSS and Marine Police in the renewed determination to tackle crude oil theft, sea piracy, kidnapping and other acts of criminality. According to him, arrangement was being put in place to train MEOS members with a view to strengthening their capacity on the task ahead. The Warri Zonal Branch chairman of NUPENG, Mr. Cogent Ojobor at the event, admonished the newly sworn-in units’ executive to see themselves as the peoples’ servant and not to oppress anyone with their office.

Ojobor, represented by the Warri Zonal Auditor, Mr. Gabriel Esezobor administered oath of office on the six MEOS chairmen and other members of their executives. It was gathered that the Commander, NNS Delta, Commodore A. Sule was represented by Lt. Cdr. A. Omotosho, while other security chiefs and traditional rulers in the area also graced the occasion. While the Escravos Unit is chaired by Collins Ajeboghouku, Forcados Unit of MEOS has David Perebor as Chairman.

Zoning of Edo gov ticket illegal —PDP STALWART

By Gabriel Enogholase

ENIN—A member of the Peoples Democratic Party, PDP, in Edo State, Mr. Jeff Ukhureigbe, has described the alleged ceding of the 2016 governorship ticket of the party to Edo South senatorial zone by the leadership of the party as undemocratic, illegal, unjustifiable and unconstitutional. In an open letter to the acting National Chairman of the party, Mr. Uche Secondus through his counsel, Olayiwola Afolabi, Ukhureigbe said that it was the turn of Edo Central senatorial zone to produce the next governor of the state since Edo South had ruled for eight years in the person of Chief Lucky Igbinedion and Adams Oshiomhole from Edo North, another eight years.

Group lauds Buhari on UNEP report By Jimitota Onoyume

ORT HARCOURT— P R E S I D E N T Muhammadu Buhari has been lauded for steps taken so far to fast track implementation of the United Nations Environment Programme, UNEP report on Ogoni, Rivers State. Executive Director, Nigeria Rebirth Initiative, Mr. Joseph Ambakaderimo who spoke weekend in Port Harcourt, enjoined the Federal Government to carry the Ogoni along in all the process, saying it will achieve quality results. He further advised the Federal Government to give attention to recommendations of the UNEP reportforsettingupofOgoniland Environmental Restoration Authority, Environmental Restoration Fund for Ogoniland, a Centre of Excellence for Environmental Restoration among others.

Arco cautions Agip to refrain from jeopardising court case By Abdulwahab Abdulah

ORT HARCOURT—AN indigenous oil servicing company, Arco Group Plc has cautioned Nigerian Agip Oil Company Limited, NAOC, or any of its subsidiaries from doing anything that will jeopardise the ongoing suit it filed before a Federal High Court sitting in Portharcourt, Rivers State. In a public notice by its counsel,

Arco lamented that in spite of the subsisting court order directing parties in the suit to maintain status quo, Agip has taken steps to send its over 1000 workers out of site as against the order of court. In the statement, Arco Group noted that, “Arising from the foregoing, the general public, Agip, G.E., Piantgeria Company Limited, or any other company,

persons are hereby reminded, warned and admonished that Nigeria operates and thrives under the doctrine of the Rule of Law, and that none of them is above the laws of the land. “It is in their own interest, and, indeed, the interest of all Nigerians to obey and abide by the Orders of the court until same are set aside, either by the court itself, or by an appellate

court. This is the civilized and honourable thing for any company of the status of Agip to do, rather than taking the laws into its hands.” It will be recalled that Justice Lambo Akanbi at the last hearing of the suit, sequel to an oral application by the lead counseltoArco,ChiefWoleOlanipekun, SAN, directed parties in the suit to maintainstatusquopendingthehearing of the applications before the court.

Vanguard, MONDAY, AUGUST 10, 2015—13

Bayelsa govt condemns killing of 4 soldiers, policeman PIRATES ATTACK:

zCorpse of slain soldier recovered in Nembe River

By Samuel Oyadongha ENAGOA—BAYELSA

State Government has condoled with the Chief of Army Staff, Major General Tukur Buratai and the families of the soldiers and policeman killed weekend by gunmen in the creek of Nembe in Nembe Local Government Area of the state. The state government in a statement by the Chief Press Secretary to Governor Seriake Dickson, Mr. Daniel IworisoMarkson, expressed regret over the incident. It assured that the Dicksonled administration will partner the security agencies to arrest the perpetrators of the dastardly act, stressing that, no stone will be left unturned to bring the killers to justice. Condemning the attack on the nation’s security agencies, the government described the attack as mindless and most barbaric. The statement, said: “A letter personally signed by Governor Dickson had already been dispatched to the Chief of Army Staff to express the heartfelt condolences of the government and people of the state.” The state government also assured the families of the slain officers that their loved ones and benefactors did not die in vain, noting that, they died as gallant officers, while in active service to their fatherland and prayed for the

The state further said: “We urged Bayelsans not to despair, as government will Corpse of slain soldier continue to do everything recovered in Nembe within its powers to stem the River new wave of insecurity being Meanwhile the corpse of one orchestrated by a clique of of the soldiers killed in the mindless and disgruntled weekend sea pirates attack on politicians, who want to JTF base was, yesterday, found wrest power by all means floating on the Nembe River. from a performing governor According to a source from in the person of Dickson. “All these acts of insecurity and brigandage are intended to put fear in the minds of the people, ahead of the December 2015 governorship election and we call on Bayelsans to remain steadfast, be law abiding and go about their normal AWARD: From left: Former Chief of Defence Intelligence, Major General businesses. S.Y. Audu (rtd), Head, Corporate Communications, Dana Air, Mr. Samuel “As a government, Ogbogoro, and Head, Security, Mr. Ossai Ayogu, during the presentation we have worked so of an award of excellence to Dana Air as the Best Security Conscious Airline hard and have 2014/15 by the International Institute of Professional Security in Lagos. committed a lot of our state’s resources to achieve the peace we have been enjoying and it is sad to observe that, because of their political ambitions, some persons want to perpetuate v i o l e n c e , brigandage and insecurity across the state,” the statement added.

repose of their souls.

the area, the corpse of the deceased soldier was found in the early hours of Sunday by boat drivers, who alerted the community leaders. “When the attention of some Nembe chiefs was drawn to the floating corpse, they immediately called the attention of the JTF commanders,” the source said.

P-Harcourt refinery to reduce fuel import by 40% By Clara Nwachukwu

AGOS—THE New Port Harcourt Refining Company, PHRC 2, is now ready for the production of more premium motor spirit, PMS, popularly called petrol, and will reduce fuel import by 40 per cent when fully operational. When the FCCUs are re-streamed, the refinery will be working at 95 per cent of its 150,000 barrels per day capacity, it is expected that petrol importation will reduce. This was disclosed to journalists, weekend, by Chrome Oil Services, a member of the Chrome Group, one of the three contractors, handling the phased rehabilitation of the refinery. Recall that Vanguard Sweetcrude had exclusively reported last week that the four Nigerian refineries are weak in petrol production and high in fuel oils because the FCCUs were still u n d e r g o i n g rehabilitation. The Project Manager, Chrome Oil Services, Mr. Bombey Adigbara, said: “The job on the FCCUs is about 98 percent completed and by next weekend, we will hand over and the FCCUs will be restreamed and the refinery will be working at about 95 percent of its throughput. “Three companies participated in this phased works and COS is the first, and we are still doing the work. At the moment, the refinery has started preliminary production, which means that it is Unit 1 that is producing. “The Unit 3 is being handled by Chrome, and by the end of next week, we will hand over the plant and the FCCs will be streamed. When this is done, we will start experiencing high level of PMS production in Nigeria. So, all the critical jobs are being done by us.” He disclosed that there are three major contractors handling the ongoing phased rehabilitation of PHRC, namely Chrome, DKJ/ ITC, and DBM.

14—Vanguard, MONDAY, AUGUST 10, 2015

CORRUPTION: Buhari orders MDAs to operate Treasury

Single Account By Levinus Nwabughiogu

BUJA—TO ensure transparency and accountability in the operations of public accounts, Muhammadu Buhari has ordered the Ministries, Departments or Agencies, MDAs, under the Federal Government to run a Treasury Single Account, TSA, which will be domiciled at the Central Bank of Nigeria, CBN.

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Also affected by the directive were Foreign Missions,Teaching Hospitals, Medical Centres, Federal Tertiary Institutions. Agencies like the Central Bank of Nigeria, CBN, Security and Exchange Commission SEC, Corporate Affairs Commission CAC, Nigeria Ports Authority, NPA, Nigerian Communications Commission, NCC, Federal Airport Authority of Nigeria, FAAN. Others are NCAA, NIMASA, NDIC, NSC, NNPC, FIRS, NCS, MMSD, DPR.

President Buhari’s directive is drawn from section 80 of the 1999 Constitution. The section 80 (1) reads: All revenues or other moneys raised or received by the Federation (not being revenues or other moneys payable under this Constitution or any Act of the National Assembly into any other public fund of the Federation established for a specific purpose) shall be paid into and form one Consolidated Revenue Fund of the Federation. (2) No moneys shall be

withdrawn from the Consolidated Revenue Fund of the Federation except to meet expenditure that is charged upon the fund by this Constitution or where the issue of those moneys has been authorised by an Appropriation Act, Supplementary Appropriation Act or an Act passed in pursuance of section 81 of this Constitution. (3) No moneys shall be withdrawn from any public fund of the Federation, other than the Consolidated Revenue Fund of the

Federation, unless the issue of those moneys has been authorised by an Act of the National Assembly. (4) No moneys shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the Federation, except in the manner prescribed by the National Assembly. Meanwhile, a TSA is a central bank account system for all government transactions where all its receipts and payments are harmonized for accountability.

Vanguard, MONDAY, AUGUST 10, 2015—15

Publish state accounts now, Archbishop tasks Okorocha By Chidi Nkwopara

OWERRI—IMO State Government has been challenged to publish the state accounts so the citizenry would know the proper financial health of the state. The Catholic Archbishop of Owerri Ecclesiastical Province, Most Rev. Dr. Anthony J. V. Obinna, who threw the challenge to Governor Rochas Okorocha, yesterday,

while delivering a sermon at Maria Assumpta Cathedral, Owerri, also argued that the publication of the state account would enable the citizenry to know the true position of things. “Lack of salary creates room for murmuring. It is necessary that parents receive their salaries and pensions to take care of themselves and their families. When parents do not provide for their families, it will lead to murmuring,” Archbishop

Obinna reasoned. It was the considered opinion of the Archbishop that there was no cogent reason why workers and pensioners should not be paid if the state was buoyant. “If there is money, why is it not being used to pay workers and pensioners? If there is no money, it is important to let people know. Lack of accountability and transparency could lead to murmuring,” Archbishop Obinna said.

INSPECTION: From left, Dr. Yilji Jurbe, Mr. Ayinla O. Gbolahan, Airport Manager, Jos; Engr. Saleh Dunoma, Managing Director, Federal Airports Authority of Nigeria, FAAN;Mr. Godwin Omadefu, Aerodrome Rescue & Fire Fighting Services; Mr. Alfred Itua, Head of Department, Corporate Affairs, FAAN, and Mrs. Jane Ominifega, Head of Department, Operations,FAAN, during the unscheduled inspection visit by Management of FAAN to Yakubu Gowon Airport, Jos,weekend.

Fuel scarcity worsens in Imo By Chidi Nkwopara

WERRI—THE lingering fuel scarcity, which hit parts of Imo State in the past worsened yesterday as most

filling stations said they had run out of premium motor spirit, PMS. When Vanguard visited Owerri Municipality, Owerri North, Aboh Mbaise, Obowo, Ihitte Uboma, Ehime Mbano and Isiala Mbano Local

Government Areas, yesterday, some of the filling stations that had PMS to dispense, forced their customers to part with between N110 and N120 per litre. Although none of the major marketing

Boundary Commission's DG lauds Enugu, Ebonyi states' bid to resolve dispute By Francis Igata

NUGU—THE Director General, National Boundary Commission, Dr. Mohammed Ahmad has enjoined the officials of Enugu and Ebonyi States to maintain their existing

tempo of commitment to ensure that their boundary dispute is resolved completely. The commission’s boss who led a delegation to pay a courtesy call on Governor Ifeanyi Ugwuanyi of Enugu State in his office at the weekend ahead of the meeting of the commission with officials of both state

Anambra youths rise against drugs, fraud, crime By Obialunamma Nwadiogbu

KWULOBIA— GOVERNOR Willie Obiano of Anambra State, yesterday, applauded the newly inaugurated Isiagu Youth Association, IYA, Awka South Local Government Area for taking a bold decision to assist the security agents in policing their community by flushing out all drug addicts, criminals and fraudulent people in their community. The 11-man Isiagu Youth Association executive elected are Chief Nelson Okolo, President; Nwabueze Nwokoye, Vice President; Uche Ozumba, Secretary; Obinna Okoli, Assistant Secretary; Crescent Chibuife , Financial Secretary; Chuma Anagor, Treasurer; C M Y K

Chekwube Okoli, PRO; Uchenna Nwoye, Provost; Ekene Odogwu, Welfare Officer 1; Chiemelie Okoye, Welfare Officer 2, and Shedrack Okoli, ExOfficio. Anambra State Commissioner for Youth and Sports, Ogbuefi Tony Nnachetta, represented, by Director of Youth Development in his ministry, Chief Greg Onugbolu (JP), said that should the youths be docile over crime or applaud evil, their future will be bleak but with such a daring move, there is hope for a brighter future. He encouraged them to pursue their fight against evil, injustice, drug abuse and crime of all sorts as well as uniting and reconciling various factions that polarized the community.

governments and representatives of the disputed areas commended both sides for speedily attaining resolution of the conflict. The Enugu governor assured him that not only would the gains made so far in the negotiation between the two sister states be consolidated but that the nagging boundary disputes between Enugu and Anambra states and any other state would be shortly made to attain the same level of resolution as achieved in the case of Ebonyi and Enugu. The DG, who briefed the governor on the bilateral meeting of the officials of both states at the Government House, Enugu, noted that the dispute resolution and boundary definition process had attained an appreciable level. In his words, there is no doubt that if the current tempo of commitments is maintained, the entire boundary will be defined and demarcated in no distant future.” Dr. Ahmad had noted with regret the slow pace of progress on the boundary dispute, blaming the unfortunate scenario on the non-readiness of the states to mobilize and support their contingents on joint field works.

companies had PMS for sale, people were seen struggling frantically to buy the product, despite the staggering pump price. At the Temple filling station on World Bank Road, Owerri, a young female pump attendant that refused to give her name snubbed and refused selling the product to Vanguard Correspondent. It was a shouting match for motorists at St. Cosi filling station, Egbu, Owerri North local council area, as they struggled to get to the pump, despite the N110 per litre selling price. Some of the aggrieved citizens, who spoke to Vanguard at the various filling stations, not only complained bitterly about the pump price, but also the scarcity that had hit the state. Mazi Ike Onye for his part, said: “It is most shocking that the Department of Petroleum Resources, DPR, is a shouting distance away from Temple filling station, but have seen nothing, heard nothing, smelt nothing and did nothing about the high pump price slammed on people.” Onye passionately appealed to President Muhammadu Buhari to not only restore the commodity in all filling stations, but also ensure that marketers respect the pump price fixed by the government. A house wife, who simply identified herself as Ijeoma, lamented that the price of kerosene had sadly gone out of the reach of peasants. “Our case is made worse here in Imo State, following the non-payment of workers' salaries. Pensioners are also being owed several months. I do not know how we can cope with the situation,” Ijeoma lamented.

16 — Vanguard, MONDAY, AUGUST 10, 2015 SEVERAL banks, discount houses and the Asset Management Corporation of Nigeria (AMCON) are complying with the directive of the Central Bank of Nigeria (CBN) to have the names of their loan defaulters published in newspapers with effect from this August. The amount involved is about N13trillion. The “name and shame” strategy came against the backdrop of apparent failed attempts to recover the outstanding loans over a long period of time, far beyond their tenors. The failure of the recovery options is also evident in the fact that only few of the 113 bad debtors that the Central Bank of Nigeria (CBN) bar red from further borrowing from banks two years ago have been able to repay their loans taken over by the Asset Management Corporation of Nigeria (AMCON). Some observers have noted that this is not the first time the CBN will be publishing a list of bad debtors. It did same in the early days of Sanusi Lamido Sanusi’s regime as CBN Governor in 2009. It didn’t achieve its objective. Rather it ended in controversy

Publication of bank debtors as the list turned out to be lacking in credibility and thoroughness. But this time the apex bank is not doing it. The banks are doing it directly. Statistics of the bank debtors show that those affected are the big borrowers who are less than one per cent of the borrowing population but which actually hold over 70 per cent of the total N13 trillion bad loans. The resort to “name and shame” has attracted some criticisms as much as it has been hailed amongst industry stakeholders. Some argue that “name and shame” is unorthodox and unprofessional. Other opponents also warn that due consideration should be given to the legal

implications. Yet others note that some defaults came as a result of genuine, irreversible business failures. While we appreciate the shortcomings of the “name and shame” strategy, we are seriously concerned that failure to do something might plunge the financial sector into a great disaster. The cost of the possible collapse of the financial sector is far heavier on the populace than the reputations of a few recalcitrant, chronic debtors. The truth is that some defaulters have simply decided not to pay their debts. This group, when identified, must face criminal prosecution after being exposed. The right of lenders to recover their money must be upheld in the overall interest of the economy. Entrepreneurship is about risk taking. If you fail you bite the bullet. We expect both the lender-banks and the CBN to approach this drive to recover loans with the greatest respect for the banker-customer contract, and also take into account the overall interest of the economy in penalising defaulters.

OPINION Asagba @ 90: Okowa's cake By Norbert Chiazor

SABA is agog. Africa 's first professor-king is 90! The lion king is happy. It is a hilarious roar.The revelry resonates beyond the River Niger. Asagba of Asaba is dancing. And why not? In this age of much sin and stress ,how many mortals can make 90 years. Professor Chike Edozien is the proud monarch of Nigeria 's first colonial capital,thanks to the British Royal Niger company, which established authority in the country in the 1880s. An academic, world class Asagba is the longest surviving dean of medical school in Nigeria.The tallest giant in the Ivory Tower. While the birthday party goes on,the man who takes the chunk of the cake is Governor Ifeanyi Arthur Okowa. If grace made Okowa governor,against all odds,Asagba rolled the wheel of destiny to Government House Asaba. Long before we all started clapping for Okowa, even as fake fans and silly sycophants, Asagba like the French seer Nostradamus already saw tomorrow.Long before the December 8 ,2014 PDP governorship primary enthroned Okowa ,in the most shocking defeat of the status quo in Delta history, Asagba had scored a clear goal for Okowa.

But for his wise mobilisation of Delta North traditional rulers and the people,the journey could have broken Okowa 's back.The first class report card ANIOMA CONGRESS led by Asagba remained his unique selling point in the heat of the gubernatorial campaigns. There were other gladiators in the arena, so strong and steady.But by strength shall no man prevail.Time and circumstance happen to all men.The divine shows mercy to whom he chooses....It is written. When charity meets destiny ,the gods are not to blame.So the masquerades both strong and steady must follow the master ....That is the simple story of Okowa. The moral is that power is not Urhobo.Not Itsekiri.Not Ijaw.Not Isoko. Not Anioma...and not even Ika. It is not UPU.Not president -general.Whether uncle Joe Omene or chief Tuesday Onoge. It is far from Uviamughe

But here is the best homage to the king...Let him lead with matchless excellency

declaration.That is not the road to power.It is not even Asagba.Not Anioma congress.Only one man can speak with unquestionable finality.And we all know him.He is not even a man! No man can play Alpha and Omega. Now that fate has thought us a humbling lesson that any Deltan, whether Ochuko, Edema,Preye,Ewoma or Olise, can be governor Okowa must watch it. He promised a pan Delta governance.That is a SMART agenda.He must do ANIOMA proud without hurting Aigbigborodo.He must develop Asaba without neglecting Aviara.He must change Ubulu-uku without short changing Uvwie. He must give Owa Alero " uncommon transformation "without diminishing Ogulagha. Politics and democracy under Okowa administration should effect a positive change in the fortunes of Deltans. Delta prides itself as the big heart of Nigeria.A pompous self introduction of its ethnic diversity and vast potentials.But like a poisoned chalice ,this plurality is its albatross. Ethnicity its punisher. Ordinary folks in Delta are boisterous and easy going while its political elite, ever self serving spurn ethnic schism and tension in the land as perennial predators. All feasting on the commonwealth with rapacious greed. Nothing dramatises this infamy as much as the acrimonious battle for political power at the expense of the people. Okowa rode to power by popular mandate. Electorate from all quartersDelta north, central and south senatorial

districts voted for him.I did.He still has my vote of confidence.No governor since the creation of Delta state had enjoyed the kind of goodwill that trailed Okowa ascendancy. He must use it wisely. With his mellow tendency as a man of tact and moderation,well meaning Deltans are persuaded that better days are ahead under Okowa.No doubt he has the temperament to bring lasting peace and development to a complex multi ethnic state where primordial cleavages hold sway. By his popularity and socialisation,he appears more Deltan than his political rivals.He has an ubiquitous political structure and folk appeal that transcends boundaries. Okowa is a man of the people respected by everyone.Hence his unprecedented gubernatorial success. Congratulations jinx breaker. Congratulations king maker.What a duet. On this special occasion,the governor can give Asagba good money,big jeep or high consultancy as birthday gift.But here is the best homage to the king...Let him lead with matchless excellency.If he cannot be the best governor ever he must strive to leave Delta better than he met it . Happily he has a powerful name "EKWUEME" Okowa has spoken .He will do it. I believe!

* Mr. Chiazor, a social critic, wrote from Asaba, Delta State.

AUGUST 10, 2015

New rules to halt tax evasion, raise VAT underway BY OMOH GABRIEL CHAIRMAN, Federal Inland Revenue Service (FIRS) Mr. Sunday Ogungbesan weekend said the Federal Government is considering a review of Value Added Tax, VAT with a possible increase from 5 to 10 per cent. He said that FIRS is at the moment engaging stakeholders to sensitise the nation on the possibility of increase in VAT as the quick win for revenue generation for the country, saying that with

dwindling crude oil revenue the government expects to fill the gap with non-oil revenue. He said that the service is collaborating with the Central Bank of Nigeria, CBN to capture the revenue flow of companies and individuals and that very soon it will be difficult for anybody resident in Nigeria to operate an account without a Tax Identification Number. Meanwhile, President Muhammadu Buhari has urged Nigerians to stop

paying mere lip service to agriculture, as crude oil and gas exports will no longer be sufficient as the country’s major revenue earner. The President gave the charge at an audience he granted Dr Kanayo Nwanze, the Nigerian born President of the International Fund for Agricultural Development (IFAD), at the Presidential Villa, Abuja. “It’s time to go back to the land. We must face the reality that the petroleum we had depended on for so long will

AWARD: From left, Executive Director, Enterprise Risk Management, Heritage Bank, Jude Monye; British Deputy High Commissioner, Ray Kyles; MD/CEO, Heritage Bank, Ifie Sekibo; and Acting MD, Enterprise Bank, Mary Akpobome; at the presentation of ISO/INEC 27001:2013 certification award to Heritage Bank at the British Deputy High Commissioner’s Residence, Ikoyi, Lagos last Thursday. Photo: Kehinde Gbadamosi. C M Y K

no longer suffice. We campaigned heavily on agriculture, and we are ready to assist those who want to go into agricultural ventures” he said. Buhari pledged that his administration would also cut short the long bureaucratic processes that Nigerian farmers had to go through to get any form of assistance from government. He told the IFAD President that improvement of the productivity of farmers, dry season farming and creative ways to combat the shrinking of the Lake Chad will also receive the attention of his administration. “There is so much to be done. We will try and articulate a programme and consult organisations like IFAD for advice” he added. According to the President, foreign exchange will be conserved for machinery and other items needed for production “instead of using it to import things like toothpicks”. Nwanze had earlier congratulated Buhari on his victory at the general elections and assured him that IFAD was ready to give all possible assistance to the Federal Government and Nigerian farmers to boost agricultural production in the country. Nwanze, who later spoke to State House correspondents, said IFAD had since 1985 been providing loans and grants in the nation’s agricultural sector to boost agricultural production. “Nigeria has the largest portfolio of IFAD’s investment in Western and Central Africa and the second largest in Africa. But the case point here is that this country has all the endowments that it takes not only for it to produce enough food for its population but also to be the bread basket of region. And this is where my institution on my behalf, I offered our services and our support in the agenda of rural transformation as a key ingrate

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18 — Vanguard, MONDAY, AUGUST 10, 2015

Cover

Vocation and Technical Education — Key to improving Nigeria’s development (3)

DINNER: From left: Governor of Lagos State, Mr. Akinwunmi Ambode explaining to a point to the Group Managing Director/Chief Executive Officer of Skye Bank Plc, Mr. Timothy Oguntayo and Group Head, Public Sector, Mrs. Moji Malik-Iyama, at the Governor’s dinner with the business community at the weekend.

New rules to stop tax evasion, raise VAT underway Continues from Page 17 in this country’s economic and social development,” he said The FIRS chairman, speaking on how to boost nonoil revenue said that it would crack down on tax evaders by denying them access to banking facilities for individuals and companies that failed to join its register. FIRS boss told journalists in a news briefing in Lagos that there were more than 450,000 companies in the country, but only about 125,000 pay any form of tax. Ogungbesan said it was difficult to track the financial activities of those who did not pay taxes, adding that most their firms were not active. “We are collaborating with the CBN to enforce compulsory registration with the tax authorities by companies and individuals before they can access their bank accounts,” said Ogungbesan. Tax identification numbers were introduced for corporate bank accounts in 2012 but some firms whose accounts pre-date the system are currently not obliged to have one. “There is a need to review our tax laws,” said Ogungbesan, adding they were not stringent enough to deter evaders. Tax evasion can be punished with up to five years in prison. According to him, the service was given a revenue generation target of N4.5 C M Y K

trillion in 2015 and has so far generated N2.667 trillion. He said that the estimated collection for July 2015 is N404billion. This, he said, is 106 per cent of the monthly target of N381.02 and brings total collection to date up to N2.374.18 trillion against the target of N2.667.13trillion, and improves collection percentage to 89 per cent. He said that the target for VAT was N1.283 trillion and the service has so far been able to generate N390.36 billion as VAT into the federation account. He said the target was set with the hope that as from July the VAT rate will rise to 10 per cent.

Oil has not been doing well, government expects the non oil sector to provide the relief being sought, governance must continue, this is paramount in the minds of every one.

Ogungbesan said “oil has not been doing well, government expects the nonoil sector to provide the relief being sought. Governance must continue; this is paramount in the minds of every one. If we can not pay salaries, it is a big problem for the country; my record shows that we have 450,000 corporate entities in this country, how many of them are contributing taxes, into the coffers of government, only about 125, 000. So the rest 300, 000 plus, where are they? You can not find them; they are portmanteau companies. The law says if you are registered within six months you must commence business. “The same law which said you must commence business has not provided the infrastructure upon which you can rest. If a company is registered and stays for years without doing business and becomes operational ten to fifteen years later, it will be required to pay return charge fee of N25, 000 for each of the year it did not operate as penalty. This kind of law does not promote investment. “There is the need to intervene, and amend the complex laws that inhibit interest in promoting investment in the country. The thinking is that all those in the informal sector are not paying taxes, it is only those in formal employment that are paying. Can this be true? When the local government comes to the market to

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n entrepreneur is a person who makes plans for a business or a piece of work and gets it going. Anyanwuocha (2001) observes that the entrepreneur is the chief coordinator, controller and organizer of the production process. The entrepreneur combines other factors of production (land, capital and others) in such a way as to obtain maximum production of goods and services at minimum costs. In order to effectively enhance occupational skills in the present day, entrepreneurs need also to acquire information and communication technology knowledge and skills. Mkpozi (1996) observed that a country that is developing and manufacturing its own goods either from Hi-Tech or small/medium scale industries using indigenous skills and exports some of those goods to other countries is usually economically stable. This could be better achieved through the acquisition of entrepreneurial and occupational skills in technology and vocational education. Individuals with technical and vocation skills and good knowledge of ICT are characterized by selfreliance, self-employment and fit properly into today’s technical, entrepreneurial and business world. The entrepreneur should therefore possess technical skills, ideas and management skills which are necessary for the success of the venture. One of such skills is information and communication technology which is characterized by employee empowerment and involves the making of unskilled and semiskilled workers to be skilful and functional in today ’s world of work. It also involves the development of task oriented team of workers who no longer depend on individual managers for all their decisions to achieve targets. Technical process re-engineering are also required to redesign technical work processes, jobs, organizational structure, management system, and also in process designs using in manufacturing industries. These components of ICT have great implications for

the enhancement of entrepreneurship education in technology and vocational education field of work. According to Azuka, Nwosu, Kanu and Agomuo (2006), classroom behaviour must align with ICT- driven environment which is constantly shaping and reshaping the work place and consequently, what is learnt and how learning takes place. There are various numbers of opportunities for technology and vocational education graduates with entrepreneurship skills in ICT driven technical and vocational education environment. These opportunities exist in various forms for the e n h a n c i n g entrepreneurship skills. Nwabuona (2004) views entrepreneurship education as the identification of the general characteristics of entrepreneurs and how potential entrepreneurs can be trained in management techniques needed for effective performance of persons for long time survival of an organization after the acquisition of occupational skills. Therefore, the roles technology and vocational education in enhancement of entrepreneurship skills is to identify and equipped graduates with critical wealth of skills, technical knowledge, and a good measure of self-confidence using information and communication technology competence. The entrepreneur should therefore possess entrepreneurial and management skills which are necessary for the success of the venture. Ogalanya in Nwabuona (2004) identified entrepreneurial skills to include managerial or administrative skills, job/ technical skills, human relations skills, innovative/ enterprising skills, competitive skills, communication skills, conceptual/planning skills, supervisory/guidance skills, according skills, investigation/problem solving skills. Ohakwe (2003) observed entrepreneurial skills as banking transactions, internet concepts and skills, internet websites knowledge and skills.

Vanguard, MONDAY, AUGUST 10, 2015 — 19

In this column in March this year, we warned the nation of the tough times ahead in the foreign exchange market and the economy at large. In view of what is happening in the economy, we republish the article as a reminder.

he 2015 election will certainly come and go but the after effect may linger for a long time. Whether it is PDP or APC that eventually wins the presidential election, the party that will come to power post-election, had better get prepared for the handling of the economy. As it stands, the nation is on a financial cliff that can fall off any time except a miracle happens. The one commodity that provides life support for the economy has seen its price at the international market fall to as low as $58 per barrel (now below $50). The International Energy Agency has predicted that crude oil prices may fall to as low as $20 per barrel. Oil prices might have stabilised only temporarily because the global oil glut is worsening and US production shows no sign of slowing. The US may soon run out of spare capacity to store crude, which would put additional downward pressure on prices. That process would last at least until the second half of 2015, when growth in US oil production is expected to start abating. Behind the façade of stability, the rebalancing triggered by the price collapse has yet to run its course, and it might be overly optimistic to expect it to proceed smoothly. As a result of the above oil market scenario, the incoming government will have a herculean task running the

Tough times ahead after elections country effectively. Many states will not be able to pay their bills, same with the Federal Government. As it is now, money that would have been judiciously used is being frittered away in foreign currency in the name of election. Right now, politicians have invaded the foreign exchange market to buy up the available dollar to pay electorate for votes. Instead of saving the windfall from oil when prices were high, state governors clamoured for the sharing of money in the excess crude account. Now, the account has nothing to be shared. Indications are that the pressure on the naira now is as a result of political activities in the country. Postelection, the naira may see some level of stability at N197 to the dollar. The unusual use of dollar in political campaign has led to further depletion of the nation’s foreign reserves as money is carried around in sacks to people whom the politicians believe have some influence over a certain section of the populace and their presidential voting choice. As a result of the mopping up of the dollar from the system for non-productive use, a less than three per cent differential between the bank naira – dollar rate and the black market rate after the November 2014 devaluation,

is now about 13 per cent in less than five months. This is not in the best interest of the economy and after the election, if prices of crude continue the southward journey; things will become worse as fewer dollars will be available at the foreign exchange market for importation of essential consumer goods. This, of course, will give rise to hyperinflation which is already rising and will continue to rise. The National Bureau of Statistics (NBS) last week released the Consumer Price Index (CPI) report for February 2015, saying that prices of goods and

Nigerians should expect higher electricity tariff, naira devaluation, less power from the national grid, which means more expenses incurred to run generators; for now, there is no light at the end of the tunnel

services rose slightly by 20 basis points, which is about 0.2 per cent. It said that rise in prices, headline inflation – measured Year-on-Year (Y-oY), was estimated at 8.4 per cent, 20bps higher than 8.2 per cent reported in January 2015. This is largely the expectation as inflationary pressure intensified in February due to the weakness of the domestic currency over the past six months. This had a knock-on impact on prices of both imported food and non-food items. After the election, which ever party comes into power, Nigerians should expect a rough time going forward. There is no doubt that with dwindling oil prices, Jonathan or Buhari will have no option than to remove completely, fuel subsidy. It will not be a matter of choice; it will be a matter of survival for the government to continue to meet its internal financial obligation. The first shot at raising revenue will be subsidy removal. Nigerians should not be deceived. This will certainly come into play early in the life of the new administration. None of the political parties has made it an electoral issue and Nigerians have not asked either Jonathan or Buhari what they intend to do with subsidy on petrol. The Nigerian banking sector

will feel the heat as they are likely to lay off employees after the election is successfully concluded. Many companies may not be able to service their facilities and non-performing loans may mount. Banks may be tempted to stop giving out loans due to high cost of funds. In a bid to tighten monetary policy after the election, the CBN may demand to sterilise public funds in the banking system or demand that all public sector funds be placed directly with it. The private sector deposit in banks may see some increase in the amount the CBN will withdraw from banks. The banks will then be under extreme pressure to perform post-election 2015. The Federal Government under pressure to raise money, may after the election, allow the naira to further depreciate to raise more money for government as crude oil prices probably falls below $53 which is the 2015 budget benchmark. More manufacturing companies will close or reduce operations due to stifling business environment wreaking havoc on their businesses. Nigerians should expect higher electricity tariff, naira devaluation, less power from the national grid, which means more expenses incurred to run generators. For now, there is no light at the end of the tunnel.

Cover New rules to stop tax evasion, raise VAT underway Continued from Page 18 allocate stores, the woman in the store pays N2, 000 per month. Is that not tax she is paying? All those sundry levies being collected by states, they have more than sixty levies on these businesses what do you call that? They are taxation in one form or another. “It is true they are not paying adequate taxes, some body that should be paying N60,000 is giving you N2, 500. The limitation and the challenges we have is that we do not know who these tax payers are and where they are operating from. The fact is that the Federal Inland Revenue Service which every one is quick to refer to is only administering the Federal Capital Territory, not the

entire country and so that makes it difficult for us. "When we compute tax-to-

The fact is that the Federal Inland Revenue Service which every one is quick to refer to is only administering the Federal Capital Territory, not the entire country and so that makes it difficult for us

GDP ratio, every now and then you hear Nigeria is doing only about 7.5 per cent, whereas other countries in Africa are reporting about 19 per cent. “Yes they are partially correct but they forget that the various levies at the local and state levels, including the personal income taxation administered by state governments are not captured. If you include them in the tax figure, Nigeria will be doing close to 17.5 per cent. It is still not enough because the bench mark is 20-22 per cent. We are not assessing ourselves correctly. “The quick win is, why not increase the rate of VAT from 510 per cent? Can we do it now? If you see how far we have gone this year in revenue generation you will see that VAT would have increased by July, that is the target they gave us but we have

not been able to do it. We are consulting as we speak to you, we will also speak to the academic community, the students, we will speak to labour. "I will tell you first and foremost that we in Nigeria do not pay the classical VAT, which anyone may settle for. The first is the income VAT, is just a matter of taking all the incomes of production and solve them into mathematics and then the value such as income, labour, entrepreneurial, the increase in these element from the previous year record is value added. This can be conveniently calculated with proper records and book keeping" he said. He added that Nigeria needs to adopt a central tax payment. He said that there are a lot of benefits in this type of tax collection system that will

enhance the revenue generation of the different levels of government in Nigeria. He also said that collaboration will go a long way in non-oil revenue drive of the country. “We are collaborating with all the banks to ensure that even individuals without TIN cannot do businesses with the banks. So what is the idea of this centralisation of tax system, is about helping states to collect their tax revenue, not keeping the revenue, because the constitution says every state shall keep its revenue, but the constitution did not say each state shall collect its own revenue. It is easier if I can have an MOU so that FIRS can help them do the collection. We have the staff; FIRS has six thousand staff, check it out with any of the states,” he said.

C M Y K

20— Vanguard, MONDAY, AUGUST 10, 2015

Business & Economy

Regulations, fiscal incentives can speed Islamic Finance Development

he development of an Islamic finance industry in Africa could help plug the regions large infrastructure gaps over the coming decade, says Standard & Poor’s Ratings Service in a Report published last week. However, a framework of regulation and fiscal adjustments will be necessary to foster African sukuk markets, provide wider investment options for potential Islamic investors, and attract a pool of Islamic liquidity, the report says. To date, African sovereigns have issued about $1 billion of sukuk instruments, compared with global sukuk issuance of an average $100 billion per year over the past five years. Meanwhile, widening fiscal deficits and large infrastructure gaps will likely require multibillion-dollar additional financing needs over the next decade. Experience in South Africa and Senegal has shown that a significant amount of time can elapse between a government’s announcement of intent to issue sukuk and their effective issuance, as governments gauge market interests and try to address the legal hurdles and cost of issuance. “We believe legislation gap is the main cause of delay between a country’s intent to issue and its effective issuance of sukuk,” said Standard & Poor’s credit analyst, Samira Mensah. The success of Malaysia in SouthEast Asia as a hub for Islamic finance lies, among other things, in the strong regulatory framework to support the sector’s growth. Malaysia also moved quickly in 2009 to address the standardization of instruments and interpretation of Sharia law. Tax regimes are equally important to consider when encouraging sukuk issuance. Sharia-compliant instruments require equal treatment with conventional instruments for investors to consider them. Malaysia introduced various tax incentives that made Islamic finance a cheaper economic alternative for institutions to raise fund. However, increasing technical assistance by the Islamic Development Bank (IDB) and Islamic Corporation for the Development of the Private Sector (ICD), are gradually facilitating sovereign sukuk issues. C M Y K

NIPC parleys CTG to promote home-made products BY FAVOUR NNABUGWU

HE Nigerian Investment Promotion Commission (NIPC) is working closely with the National Cotton, Textile and Garment (CTG) Policy Committee in order to promote Made-in-Nigeria products and encourage the resuscitation of the textile industry in the country. The Executive Secretary of the commission, Mrs. Uju Aisha Hassan Baba, who met with the sub-committee on communication and local patronage of CTG in her office recently, stated that “NIPC is

not only promoting Foreign Direct Investment (FDI), but also encouraging Local Direct Investment (LDI) as they contribute so much to the growth of the economy.” She maintained that the commission will partner with the committee to realise most of its initiatives to encourage and promote indigenous products as that will spur the creation of wealth and generate employment for Nigerian youths, stressing that “NIPC is aware that there are wealthy Nigerians that will invest in their home economy rather than keeping their money outside the country if they are encouraged and guided

properly.” She added that the commission will strive in its marketing drive to seek for investors that will partner with Nigerian investors to resuscitate the ailing textile industry in the country. The NIPC boss disclosed that the commission is already partnering with state governors to promote agriculture in their various states in order to grow products like cotton that is the main raw material for textiles and garments products, adding that the “NIPC has put many strategies in place to realise its mandate of attracting and promoting investments into the economy”.

Earlier, the chairman of the sub-committee on communication and local patronage of CTG and Madein-Nigeria products, Mr. William Iheanacho Otabil, stated that the CTG policy of the Federal Government, which was inaugurated in December 2014 was envisioned to create a competitive cotton, textile and garment sub-sector capable of stimulating and supporting sustainable value addition along the entire CTG value chain. He announced that as part of the commission’s initiative to propagate Made-in-Nigeria products, it has concluded arrangements to hold BuyNaija Dress Day; Buy-Naija Military and Paramilitary patronage and Buy-Naija Schools Patronage, all aimed at patronizing Nigerian textile materials.

RECEPTION: Executive Director, Sterling Bank Plc, Mr. Yemi Odubiyi; Honoree, Prof. Nnenna Okore of North Park University, Chicago, Illinois, USA; Professor of Sculpture, University of Nigeria, Nsukka, Prof. El Anatsui; Managing Director/CEO, Kachifo Limited, Mr. Muhtar Bakare and Art Curator, The Wheatbaker Hotel, Sandra Obiago, at a reception in honour of Prof. Okore.

Customs impounds N35.6 m worth of poultry products in one week By Godfrey Bivbere

anagement of the N i g e r i a Customs Service, NCS, in continuation of its antismuggling efforts has impounded poultry products worth N35,651,458.00 (Thirty Five Million, Six Hundred and fifty One Thousand, Four Hundred and Fifty Eight Naira Only) in the out going week. The Service’s efforts against smuggling of poultry products code named “Operation Hawk Descend”

saw a total seizure of 5,472 (five thousand, four hundred and seventy five) cartons of frozen poultry product that were confiscated at Idiroko bush path in Ogun States, Agbeji/Ife axis in Osun State

Owners of commercial buses operating in the South Western area to desist from such act or face the consequences of losing their vehicles

and Seme axis in Lagos State all around the South Western area of the country. A breakdown of the seizure shows that the Western Marine Command of the Service impounded 3,221 cartons, Federal Operations Unit, FOU “A”, Ogun Command, Oyo/Osun and Seme Command seized 1,220, 820, 120 and 91 cartons respectively in the last one week. In a statement signed by Deputy National Public Relations Officer of the Service, Joseph Attah, quoted the Customs boss Dikko Inde Abdullahi,

lamented the use of commercial vehicles to conceal and transport the banned poultry products. The Customs helmsman called on owners of commercial buses operating in the South Western area to desist from such act or face the consequences of losing their vehicles and possibility of a jail term. He however expressed the hope that the re-invigorated collaboration between the Customs Administrations of Nigeria and Benin Republic will help to deal decisively with the crime of smuggling from both sides of the border.

Vanguard, MONDAY, AUGUST 10, 2015 — 21

Business & Economy

Bankers urged to finance aviation industry By JIMOH BABATUNDE

LAUNCH: From left, Martin Thomle, deputy managing director, GMT Nigeria Ltd; Titi Osuntoki, executive director, business banking, Access Bank Plc; Herbert Wigwe, GMD/CEO, Access Bank Plc; Banjo Adegbohungbe, group head, global trade, Access Bank Plc, and Tim Maguire, chief financial officer, GMT Nigeria Ltd, at the official launch of Finance & Logistics Worldwide Scheme (FLOWS) by Access Bank Plc in Lagos. PHOTO BY AKEEM SALAU

Court restrains NUPENG from picketing CBN T

he National Industrial Court of Nigeria (NICN) has restrained the National Union of Petroleum and Natural Gas Workers (NUPENG) from picketing the Central Bank of Nigeria (CBN). Justice Peter Lifu, who gave the ruling in Abuja, also granted leave to the claimant to issue and serve its originating process. “The defendants are hereby restrained either by themselves, or through their agents, privies, servants, members or anybody acting on their instruction or on their behalf,” the judge ruled. The order also barred the

BY FAVOUR NNABUGWU

he Nigerian Investment Promotion Commission (NIPC) and Qingdao International Chambers of Commerce for the Private Sector (QICCPS), China, have signed a Memorandum of Understanding (MoU) to boost inflow of Foreign Direct Investment (FDI) into Nigeria. The Executive Secretary of the commission, Mrs. Uju Aisha Hassan-Baba, and the Chairman of the Chambers, Mr. Shang Yongle, who signed the MoU on behalf of the two countries in Abuja, noted the need to recognize the benefits of the existing economic and bilateral cooperation between Nigeria and China. Hassan-Baba said the two parties reached an understanding on the need to establish a close working relationship in order to facilitate

defendants from “disrupting, picketing, blocking, parading themselves or in any other way or manner disturbing the normal business operation of CBN, either at the headquarters or any of its zones or branches within the Federal Republic of Nigeria, pending the hearing and determination of the motion on notice”. The union is protesting over the non-payment of the outstanding salaries and terminal benefits of its members who were disengaged by Seawolf Oil field Services Limited. Seawolf Oil Field Services

Limited, due to its nonperforming loans with a bank, was acquired by Asset Management Corporation of Nigeria (AMCON) in 2014. AMCON refused to pay the outstanding benefits of disengaged staff after acquiring the company, thereby generating the protest. It was established on the 19th July 2010, when former President Goodluck Jonathan signed the AMCON Act into Law. The corporation was created to be a key stabilizing and re-vitalizing tool established to revive the financial system by efficiently

resolving the non-performing loan assets of the banks in the Nigerian economy. As part of its overall supervisory functions through AMCON, the Central Bank of Nigeria (CBN) is empowered to act with AMCON to provide a myriad of functions intended to improve the liquidity of the toxic assets. This is achieved by purchasing them using secondary market mechanisms, thus allowing the affected institutions to stabilize their balance sheets and avoid further losses. The judge adjourned the case till Aug. 13, 2015, for hearing.

NIPC, Chinese chamber sign pact for FDI inflow business entry of members of QICCPS into the country. She reiterated her call on foreign investors to the country to always register their enterprise with the commission as it is the only agency of government that has the legal framework and statutory responsibility of promoting and attracting investments into the nation. She assured the Chinese private sector of the commission’s unflinchingly assistance on relevant information to guide investors in setting up their enterprises and also provide incentives and aftercare services. “The commission agreed to liaise with relevant institutions

of government in facilitating the grant of relevant approvals and licenses to such Chinese businesses from the QICCPS in accordance with relevant legislations and further agreed to identify specific projects and promote them to interested investors from both countries.” The MoU also permits the Chinese businessmen to invest in Nigeria, particularly in construction sector; Woodwork (Furniture Manufacturing; Cement Manufacturing, Glass production, Garment and Diaper Manufacturing and Railways while the NIPC would facilitate and support the admission of such investments in accordance with relevant laws and regulations of this

country Mr. Shang Yongle who also led the Chinese delegation to the country, expressed their commitment to invest in Nigeria within the shortest possible time. The MoU which was witnessed by the management staff of the commission and an 11-man Chinese delegation, further agreed to provide and disseminate up-to-date information on investment related matters to investors in their respective countries and to jointly initiate and organize promotional activities such as exhibition, conferences and seminars for the stimulation of investments into their respective countries.

he Managing Director of Medview Airline, Alhaji Muneer Bankole, has urged bankers in the country not to overlook funding of the aviation industry as he commended First Bank for its leading role in the industry. Speaking at the Murtala Muhammed Airport, Lagos while taking delivery of a Boeing 767-300ER just acquired by the airline, Bankole said most banks in Nigeria do not understand the aviation industry. Bankole commended First Bank for its effort at financing the purchase of the aircraft by the airline. “We started the business with First Bank and since we commenced business deal with it, the bank has been appreciating us for our commitment and consistency.” He noted that the newly acquired Boeing 767-300 ER is an integral part of its long-term business model, adding that the aircraft would immediately be deployed for this year ’s hajj operations which will commence August 18th. Bankole said the airline is set to change the face of pilgrimage in Nigeria with its Boeing 767300 ER as Nigeria pilgrims deserve the best too, “this is why we brought in this aircraft, it will be commissioned with the first flight to Makkah and Medinah.” His words: “We are as usual poised to give our customers the best of service and with the introduction of our additional new baby, we will definitely expand our fleet and operations.” Bankole added that the aircraft will join the airline’s growing fleet after the hajj operations, just as he said another Boeing 767 aircraft being expected soon would be deployed to Jeddah and Dubai routes. “Today is an historic day for the country, because this is one of the domestic carriers in the country that commenced operations just three years ago. We ventured into regional operations with Accra and the federal government designated us to fly international too with Jeddah, Dubai and London, which has led us to source for a bigger aircraft to match any of the international airlines. “This aircraft you are seeing is 767-300 ER, it has an endurance of over 14hours flying. We have six aircraft in our fleet now. These are the new generation aircraft you will find us using when we commence operations to UK and Dubai soon.”

22 — Vanguard, MONDAY, AUGUST 10, 2015

Vanguard, MONDAY, AUGUST 10, 2015 — 23

24 — Vanguard, MONDAY, AUGUST 10, 2015

Banking & Finance

Importers, agents groan under high exchange rate, policy uncertainty BY GODFREY BIVBERE

HALF YEAR: Diamond Bank’s shareholders hope of dividend heightens as revenues rise

MPORTERS and their agents are presently groaning under the high exchange rate and uncertain government policy that has resulted in the down turn in the volume of imports into the country since the new administration came to power. Vanguard gathered that many importers have adopted a “wait and see” attitude to their businesses ostensibly due to the uncertainty surrounding the Buhari administration’s policy directiion. Investigation revealed that importers are no longer placing orders for goods, but rather are waiting to see the government’s policy direction before further action can commence. Confirming the development, a chieftain of the National Council of Managing Directors of Licensed Customs Agents (NCMDLCA), Mr. Onyebuchi Obah, described the development as very serious. He said the ports were almost grounded because “importers are no longer importing” as they are yet to understand the present government’s direction in terms of policy. “Nobody wants to take the risk of investing his money when he is not sure of what the government’s next line of action would be, adding that the situation was likely to remain so until the authorities come out with a clear-cut policy of where they are heading to. He said rather than exposing Nigerian business men to the unpredictable foreign exchange, government should peg the rate at N65 for them, maintaining that with this, importers would be encouraged to do their business. He said, “I can tell you that as things are now, no importer will put his money down in an environment where if you procured forex at N185 to the dollar and when the goods arrive your bill is calculated on N230 plus. No business can be sustained this way” “But if he is sure that if he opens his Form M at N65, N80 or N100 rate and the goods land, his bills are calculated on same rate, he’ll be encouraged to remain in business. Unfortunately this is not the situation”.

By PETER EGWUATU

he hope of higher dividend for shareholders of Diamond Bank Plc for the financial year 2015 heightened as the bank maintained stable growth in its half year results despite the harsh operating environment experienced in the period under review. Diamond Bank Plc, in its half year (H1) performance scorecard, showcased its ability to sustain growth in all parameters, by posting 5.3 per cent increase in its gross revenues, and N14.59 billion in comprehensive income, which represents 3.3 per cent increase over 2014 figure of N14.12 and surpasses analysts’ expectations for the half year (H1) ended 30 June 2015. TH In the half year results ended 30 June, 2015 released recently on the Nigerian Stock Exchange, NSE, Diamond Bank recorded •Mr. Uzoma Dozie, Chief Executive Officer, Diamond Bank Plc Profit After Tax, PAT of N12.15 billion, which is lower than its 2014 position of N13.78billion. The Bank’s capital adequacy ratio surged to 18.6 per cent, them. It is a sign of better things market share responsibly. We retail banking and providing in excess of the Central Bank to come. Dozie management shall expand customer convenient and easy banking of Nigeria’s (CBN) required will do well as economic relationships, enhanced by our to the micro small and medium minimum, and signposting the activities improve in the years elaborate channels and enterprises segment, it has however continue to grow its bank’s preparedness for ahead” Okezie noted. excellent service delivery”. expanded business and to The Group’s focus on funding corporate and mid-tier Another leader of remain an industry leader. shareholder Group, Proactive the real sector was reflected in business segments, and The shareholders who spoke Shareholders Association of the growth in loans and according to the CEO, “the against the backdrop of the Nigeria, PROSAN, Mr. advances to customers from concept of value chain bank’s performance for the Oderinde Taiwo said “ The bank N791.09 to N793.67 billion since management helps us to period under review should be commended for this the beginning of the year amidst provide end to end solution to commended the management performance as it is an a decline in the pace of the value chains of our clients and for the proactive measures indication that the second half economic activities and weak corporate taken to maintain the growth performance would be better as economic fundamentals. ultimately improves value for in some of the performance the country’s economic indices Deposits, however, declined both us and the customers.” It will be recalled that the indices. improves. The economy is down from N1.49 trillion to N1.35 Mr. Boniface Okezie, and it has affected so many trillion, reflecting cumulative bank in its full year 2014 result Chairman, Progressive institutions so, if Diamond changes in regulation such as recorded a growth of 27.3 per Shareholders Association of Bank could record this the new unified Cash Reserve cent in total assets from N1.52 Nigeria, PSAN, who spoke the performance, it then means that Ratio and Treasury Single trillion in the previous year to mind of its members said “We it would do better in the next Account that necessitated N1.93 trillion. This was driven are impressed with the bank’s half of the year when activities sterilization of huge sums of mainly by growth in deposits, performance and kudos should are expected to pick up since money by the Central Bank of which surged 23.8 per cent from N1.21 billion in 2013 to be given to the management the last national election has Nigeria. for this result given the tight come and gone. The Bank’s focus remains on N1.49 billion, demonstrating the Bank’s strong ability and business environment it Speaking on the bank’s half network to generate cheap operated upon. Many year result from the Bank’s deposits from the retail and companies are not doing well Corporate Head Office in middle market segments. Also, at the moment due to the slow Lagos, Uzoma Dozie, Group the bank grew its loan portfolio pace of governance. Managing Director/CEO, said to customers from N689 billion Boniface Okezie said “The that the Bank’s continued to N791 billion, representing bank under the leadership of success in spite of regulatory 14.8 per cent increase. Otti did not let us down, so headwinds, is hinged on Gross earnings increased by we still believe in the new focusing on the implementation 15.0 per cent from N181.2 leadership led by Uzoma of strategies that promote billion in 2013 to N208.4 Dozie. We hope with this sustainable growth and billion, showing an increase of performance, the dividend for profitability for the long term. 9.6 per cent in net operating this year may likely surpass the According to the bank’s Chief income which stood at N116.3 previous year if economic Executive Offer, CEO “Our billion in 2013 to N127.4 condition improves in the next innovative, customer friendly billion. However, Profit Before six months.” services and retail banking Tax (PBT), declined marginally He said the dividend for last strategy are showing positive by 12.5 per cent from N32.1 year was commendable given results and will enable us to billion in the previous year to enormous funds that were sustain low cost of funds. In the N28.1 billion, reflecting the deployed for expansion and quarters ahead, we will focus harsh regulatory headwinds rebranding. on premium quality risk assets, that hallmarked business ‘’It is an impressive as we continue to explore operations in 2014. performance. We commend opportunities to grow our

Our innovative, customer friendly services and retail banking strategy are showing positive results and will enable us to sustain low cost of funds.”

Vanguard, MONDAY, AUGUST 10, 2015 — 25

Banking & Finance BY PETER EGWUATU

he Central Bank of Nigeria, CBN has ordered banks in the country to refund charges made on customers for daily cash withdrawal or deposits exceeding set limit in the 30 states that full cashless policy transactions has not taken place. The CBN disclosed that the new policy on cash-based transactions has not officially taken place in all the states of the country. Briefing newsmen after the 322 Bankers’ Committee Meeting in Lagos weekend, Mr. Kolawole Balogun, who represented the Director Banking Supervision Department of the CBN, Tokunbo Martins said “At the meeting we agreed that banks should refund the charges made on customers for withdrawal and deposits in those states that cashless policy has not taken place.” According to him “ The cashless policy has officially taken place in five states and federal capital, Abuja. The states are Lagos, Abia, Anambra, Kano, Ogun and Rivers States, as well as the Federal Capital Territory, Abuja. The CBN has not officially announced the take off implementation of full cashless policy in other states other than the already stated states and federal capital territory, Abuja, due to some infrastructure bottlenecks. We are allowing ample time for the banks to deploy adequate infrastructure needed to support the cashless policy as well as enable additional sensitisation of various bank customers on the merits of the

NDIC introduces deposit insurance system curriculum in universities

LECTURE - From left: Interim Chairman, the Nigerian Society of Engineers, Aeronautical Division, Group Capt John Obakpolo, chairman of the occasion, Dr. Prince Julius AdelusiAdeluyi, Guest Speaker, Mr. Aliyu Edoji Aliyu and MD, NAMA, Engr. Ibrahim Abulsalam, during the 2015 Annual Public Lecture by the Nigerian Society of Engineers, Aeronautical Division, at NCAA Annex, Ikeja Lagos.

CBN orders banks to refund withdrawal charges in 30 states policy. There are telecommunication, power and other problems that are yet to be addressed” The CBN ) has introduced a new policy on cash-based transactions which stipulates a ‘cash handling charge’ on daily cash withdrawals or cash deposits that exceed N150,000 for Individuals and N1,000,000 for Corporate bodies. The new policy on cash-based transactions (withdrawals & deposits) in banks, aims at reducing (not eliminating) the amount of physical cash (coins and notes) circulating in the economy, and encouraging

more electronic-based transactions (payments for goods, services, transfers, etc.). Tokunbo further noted that the CBN will sanction delinquent debtors whose names were published by banks if they refused to negotiate with their banks on how to pay their debts. “The publication of debtors names is ongoing and banks will be doing this on quarterly basis” he added. Speaking on domiciliary account, Mr. Segun Agbaje, Chief Executive Officer, Guaranty Trust Bank Plc said “said “The restriction on

domiciliary account is just the cash deposit. Every other things remain the same. Payment of school fees, medical treatment etc can be done through the domiciliary account. Any person or company that need foreign currency can go through the CBN’s window and get whatever it wants provided it is a genuine who cannot meet the official window requirements that can go to parallel market. The essence is to strengthen naira and make Nigeria less import dependent.”

Union Bank’s Smart Centres leverages technology to drive banking services By JONAH NWOKPOKU

s part of its moves to embrace modern banking, Union bank of Nigeria Plc has introduced new technologies to drive convenience and ease of access to its financial services. The technologies which are embedded in its Smart Centres is a revolutionary platform that provides a one-stop shop for all financial services for all its customers across the country. Services that can be obtained in the Smart Centres include: Account opening, cash deposits, cash withdrawals, live video chat with customer care agents, fund transfers, internet banking etc. The Smart Centres introduced in May, 2015 and operational in Abuja and Lagos presently are basically electronic branches aimed at totally redefining the

branch channels as, to make it more customer-friendly. Features include an interactive project screen which consists of a video wall that creates a larger than life video experience. The device also allows customers to interact with the projected image contents from promotional videos and other products information being displayed. The Smart Centre also features an interactive kiosk which allows customers to open an account in five minutes and conduct other online banking transactions. The technology which is the first of its kind in Nigeria is a state of the arts interactive medium on which customer service personnel can also sit around and attend to customers. The device also comes with various other applications centred on customer service including investment

banking, amongst others. The other feature is the innovative Samsung smart TV for video conferencing which enables customers to use the Samsung PC at the centre to communicate with the Union Bank contact centre team. Customers via a live video chat can get immediate resolution to any issues they want resolved. Speaking on the innovations, member of the Smart Centre team, Titilope Amusan who conducted newsmen around the facilities in Lagos, said: “With this technology, we want to let our customers know that in this competitive market, we are ready to serve them and offer them the best service they can get anywhere in the country. All these are also our own way of making life easier for our customers. As you know, this technology makes it possible to break the barrier of restricted

Monday to Friday financial services. And the service is seamless and faster as opposed to walking into a banking hall and filling a long tedious form and waiting forever to get to your account details. With this technology, you can get your account details in just five minutes.” She added: “The Smart Centre is one of the transformation projects that we are doing at the moment in Union Bank. We also call them the bank of the future. The Smart Centre is the one-stop shop for customers where you can walk in serve yourself. “This Smart Centre offers 24 hours availability as opposed to the traditional banking where if you do not get there before official closing hour, you are denied of banking services, meaning you have to return the next day or squeeze out time to make those banking hours.

he Nigeria Deposit Insurance Corporation, NDIC has introduced deposit insurance system DIS into the curricula of Nigerian universities and other tertiary institutions as part of the on-going efforts toward enhancing public awareness on its mandate and operational activities. The DIS programme commenced with two courses: “Fundamentals of Deposit Insurance Scheme” and “The Practice of Deposit Insurance”were designed for students of Business Administration, Economics, Banking and Finance, and Accounting. The ‘Fundamentals of Deposit Insurance’ was specifically designed for 300 level students while ‘The Practice of Deposit Insurance’ was for 400 level students. The introduction of the programme is intended to enhance the knowledge of both undergraduate and post-graduate students of universities and students of the Chartered Institute of Bankers of Nigeria, CIBN. This will go a long way to enhance the quality of potential staff of banks as well as promote financial literacy and financial inclusion.

Enterprise Bank unveils ‘Association Savings Account’

ot for profit organisations in the country now stand the chance of growing their savings when they open and operate the Enterprise Association Savings Account (EASA), an interest-bearing account, specially developed by Enterprise Bank Limited to satisfy the financial needs of that segment of its customers. The bank said the contribution of these organisations to humanity and society in general, requires support that ensures they earn some form of revenue on their savings to aid their humanitarian services. A statement from the Corporate Communications Department of the bank said, “We have a large number of non-profit bodies, associations, organisations, clubs and movements among others in the country, who do not engage in profit-making businesses. But because of the nature of their role, they require our support. “As a financial institution that cares, we are aware that these associations require savings accounts to keep their funds as against transactional current accounts with its attendant charges. C M Y K

26 — Vanguard, MONDAY, AUGUST 10, 2015

Corporate Finance

NSE, IoD collaborate to train directors of quoted companies BY PROVIDENCE OBUH

he Institute of Directors of Nigeria, IoD, has disclosed its collaboration plan with the Nigerian Stock Exchange, NSE, to train directors of quoted companies to ensure strict adherence to corporate governance principles and ethics. President of IoD, Mr. Samuel Akeju stated this at the New Members Evening and Induction Ceremony with the theme: “Change” in Lagos. He said, “The IoD Nigeria and Nigerian Stock Exchange (NSE) have collaboration to train directors of companies listed on the exchange.” With a vision to institutionalize the tenets of sound corporate governance and best practices in the Nigerian business environment, he said that the IoD Nigeria maintains cordial relationship with Ministries, Departments, Agencies and Companies in both the public and Private sectors of the Nigerian economy to increase national and international visibility. To this end, he said that the IoD Nigeria joined the African Corporate Governance Network (ACGN), which is an umbrella body of all Institute of Directors and affiliates in Africa. Additionally, Akeju pointed out that the twin issues of tax burden and non-compliance with the relevant sections of the Fiscal Responsibility Act 2007 and the various sectoral Codes of Corporate of Governance seem to be the most challenging aspects of the Problems besieging the business community. “While tax burden is a factor militating against returns to investment, non-compliance is an attitudinal change factor, which is attributed to how effective or otherwise the governance of an organization is” he said. C M Y K

By NKIRUKA NNOROM OREIGN portfolio investment on the Nigerian Stock Exchange, NSE, in month of June dropped to N69.65 billion against a total transaction of N79.77 billion recorded the previous month. This is even as domestic transactions increased to N133.80 billion from N65.68 billion recorded in May. Capital market operators pointed out that the policy uncertainty in the economy is

NSE: Foreign portfolio investment drops to N69.65bn in June affecting investment decisions. “Investors are not clear about what would be the policy direction of this government and that is why the level of bids in the stock market has been weak. “You have seen the market move southwards over the last couple of weeks and I think

that would persist until the government comes out with a clear economic policy that investors can relate to,” said some market operators who spoke with Vanguard. On the other hand, foreign portfolio investors who are eager to play in Nigeria’s fixed income securities market would like to see a higher and

PROJECT FAME: From left: Joba Popoola, Participant in MTN Project Fame 4; Ade Bantu, Artiste; Tolu Adesina, participant in previous Project Fame and Joy Panam, audition judge during the MTN Project Fame West Africa Season 8 opening Gala show in Lagos.

more sustainable exchange rate equilibrium as well as a return to a price-driven forex trading platform, they stated. However, total transactions at the nation’s bourse increased to N203.45 billion (about $1.04 billion) in June 2015, up 39.88 per cent from May 2015. Foreign investors conceded about 31.52 per cent of trading to domestic investors as FPI transactions decreased from 54.84 per cent of the total transactions in May to 34.24 per cent in June while domestic transactions increased from 45.16 per cent to 65.76 per cent over the same period. Foreign portfolio investors’ inflows accounted for 20.97 per cent of total transactions, while the outflows accounted for 13.26 per cent of the total transactions in June 2015. In comparison to the same period in 2014, total FPI transactions decreased by 40.97 per cent, whilst the total domestic transactions increased by 24.45 per cent. FPI inflows outpaced outflows which was consistent with the same period in 2014. Overall, there was a 9.78 per cent decrease in total transactions in comparison to the same period in 2014.

Forte Oil to raise long term fund, pledges to pay dividend By PETER EGWUATU & NKIRUKA NNOROM

ORTE Oil Plc has disclosed that it is targeting to raise long term fund to boost its business and pay dividend to shareholders. The Group Chief Executive Officer, Forte Oil Plc, Mr. Akin Akinfemiwa, disclosed this during the company’s fact behind the figures presentation at the Nigerian Stock Exchange, NSE in Lagos. According to him “We are planning to raise cheap long term debt fund that would help boost our business, reduce our debt and enable us pay dividend to our shareholders.” Commenting on the debt profile of the company, he said the huge amount of debt incurred was a result of devaluation of the currency as subsidy payment was not made as at when due. We are

not even interested in the subsidy and that is why we are positioning the company and ready for deregulation of the sector. As of now, the federal government owe marketers about N40 billion. We are incurring huge interest from the banks, so timely payment or receipt of this fund would enable us to pay better dividend to our shareholders and settle our debts. We are looking at foreign investors to have as foreign partners to enhance our proposed drive in the upstream

Wehave completed a major restructuring exercise to compete effectively in the upstream sector wherein the company’s name changed to Forte Upstream Services.

sector” Akinfemiwa stated that the harsh operating environment affected the company’s performance in the first half of the year, 2015. However, he assured that the company is optimistic to surmount the obstacle as it has commenced its 5-year growth and consolidated strategy for all of its strategic business units which include strategic retail business expansion, increased commercial customer base for both fuels and lubricants, improved operational efficiency and logistics and talent management and development. According to him “We have completed a major restructuring exercise to compete effectively in the upstream sector wherein the company’s name changed to Forte Upstream Services. We are having business expansion with existing and new clients (Shellproduction chemicals contracts and Addax, Afren and ChevronDrilling fluid contract). Commenting on the company’s half year result, he said “Revenue fell by 23 per cent from N79.6

billion in first half 2014 to N61.2 billion (Volumes decline) in first half 2015 as a result of reduced importation of petroleum products by the company due to prolonged delays by the government in making subsidies payment. This was further exacerbated by nationwide strikes by downstream sector workers “At the back of the fall in revenue, operating profit declined by 39 per cent to N2.8 billion in first half 2015 from N4.5 billion in the corresponding period of 2014. However, net income fell 19 per cent due to lower tax burdens and recoveries of prior period interest charges hitherto recognised through government reimburse-ments.” Meanwhile, Chief Executive Officer, Nigerian Stock Exchange, NSE, Mr. Oscar Onyema has charged Forte Oil management to continue to strive to achieve the highest standards of corporate governance by ensuring ongoing compliance with the exchange’s post-listing requirements, including prompt filing of its financials.

Vanguard, MONDAY, AUGUST 10, 2015 — 27

Corporate Finance

Profit taking drags down All Share Index by 0.17 % By PETER EGWUATU

he gains recorded for the four days running last week could not be sustained on the last trading day, Friday, as transactions at the Nigerian Stock Exchange (NSE) ended on a negative trend on with the All-Share Index declining by 0.17 per cent to close at 31.441.71 points against 31,497.73 points recorded on Thursday. Capital market operators opined that the drop in the All Share Index was a result of profit taking by investors as they felt that the market would return bearish given the fact that no active economic activities have taken place in the economy. Also, the market capitalisation which opened at N10.795 trillion lost N19 billion to close at N10.776 trillion. Guinness recorded the highest price loss to lead the losers’ chart, dropping by N6 to close at N131 per share. Total came second with N5.25 to close at N150, while Flour Mill lost N1.84 to close at N29 per share. Cadbury declined by N1.75 to close at N33.30, while Okomu Oil shed N1.17 to close at N24.83 per share. Conversely, Forte Oil led the gainers’ table with N8 to close at N208 per share. Mobil Oil garnered N5 to

close at N160, while PZ rose by N1.51 to close at N34.51. Ashaka Cement inched N1 to close at N23, while Berger Paints appreciated by 0.47k to close at N9.97 per share. Continental Insurance for the third consecutive day emerged the most traded equity with a

total of 315.48 million shares valued N293.39 million. It was trailed by Transcrop, having accounted for 47.46 million shares worth N133.66 million, while Zenith Bank sold 24.61 million shares valued at N415.86 million.

Access Bank traded 22.72 million shares worth N108.85 million, while Stanbic IBTC exchanged 18.95 million shares valued N400.85 million. In all, a total of 524.65 million shares worth N2.33 billion were traded by investors in 3,432 deals.

•From left, Medical Director, Lagos Island Maternity Hospital, Dr. Lawson Imosun; representatives of wife of Lagos State Governor, Dr. Claudiana Sanwo-Olu; Mrs. Ladun Ogunbanwo; Director, Vitafoam Nigeria, Mrs. Titi Bakare; and Group Managing Director, Vitafoam Nigeria Plc, Mr. Taiwo Adeniyi, at the launch of Vitafoam’s breast feeding products during the 2015 World Breastfeeding week in Lagos

Lagos govt commends Vitafoam’s two innovative products BY PETER EGWUATU

AGOS State Government has commended the management of Vitafoam Nigeria Plc on its innovativeness by introducing two unique products to prevent nursing mothers from the hazards of breast feeding. The two products, Vitafoams Early days Breast feeding Covers and Pillows which were unveiled last weekend were specifically designed to enable nursing mothers maintain proper position for breast feeding devoid of back pain and privacy while breastfeeding in the public. Speaking at a special ceremony to mark World Breast feeding Day at Lagos

Island Maternity Hospital in Lagos, Lagos State’s First Lady, Mrs Bola Ambode explained that Vitafoam Nigeria Plc had been at the forefront of products aimed at reducing infant mortality in Nigeria. Mrs. Ambode who was represented by Mrs. Ladun Ogunbaniro stated that Vitafoam’s Board and Management should be appreciated as a good corporate citizen which constantly produces products that address human problems. Mrs Ambode called on the government and other employers of labour to support the initiatives in order to have a better society. She reiterated that Lagos State government had increased the maternity leave from three months to six months while there is 10-day paternity leave as a support for

proper child care. Earlier in his address, Vitafoam’s Group Managing Director, Mr Taiwo Adeniyi explained that the company had expanded its products’ portfolio from being a manufacturer of just mattresses and pillows into a foremost producer of ultimate comfort products. According

Vitafoam has ventured into production and supply of flexible, semi rigid and rigid polyurethane foam products including furniture, bed and beddings.

to him, Vitafoam has ventured into production and supply of flexible, semi rigid and rigid polyurethane foam products including furniture, bed and beddings. This expansion gave birth to some of its current subsidiaries: Vitapur, Vitagreen, Vitasco and Vitabloom”, he said. Commenting on the World breastfeeding Week, Adeniyi noted that the company ’s support for the week culminated into its production of products that ensure that mother ’s breastfeed their babies in comfort either in the private or public. “We produce quality baby soft and hard furniture like the pregnancy pillows, bed sheet collections, pillows, baby cot, play mat and everything that makes the mother and their babies experience total comfort” he said.

Custodian and Allied grows profit by 21%

ustodian and Allied Plc, one of the leading non-bank financial institution quoted on the Nigerian Stock Exchange (NSE) with investments in life and non-life insurance, pension fund administration, trusteeship and property holding businesses, has announced an unaudited profit before tax of N3.34 billion and profit after tax of N2.62 billion for the six months period ended 30 June 2015. In spite of the challenging environment in which the group operated during the reporting period, the profit before tax represents an increase of 21 per cent over that of the corresponding period of 2014. Similarly, shareholders’ funds grew to N24.42 billion from N22.49 billion, as at 31 December 2014, while total assets exceeded N54 billion as at 30 June 2015. In furtherance of its tradition of rewarding shareholders, an interim dividend of 6 kobo on every 50 kobo ordinary share will be paid to shareholders, whose names appear on the th register on 14 August, 2015. The directors are confident that, barring unforeseen unfavourable circumstances, the positive trend would be sustained for the rest of the year.

NSE wins financial institution of the year award

he Nigerian Stock Exchange, NSE has stated that it has received the 2015 Financial Institution Award from The Oil & Gas Year (TOGY) Nigeria. The award was presented to the NSE last week at The Oil & Gas Year Nigeria Award ceremony, an annual event held to celebrate individuals and institutions who have distinguished themselves in their areas of specialization. According to the organisers of the event, this award is being conferred on the NSE in recognition of its first-ever dual listing with the London Stock Exchange through the $500 million Initial Public Offering (IPO) of Nigerian independent hydrocarbons company Seplat Petroleum Plc. The listing was the largest European IPO of an exploration and production company since the 2008 financial crisis. With almost 50 per cent of locally sourced capital and more than 65 percent of trading volumes done on the exchange, the role of capital markets in advancing local oil and gas firms is clear. C M Y K

28 — Vanguard, MONDAY, AUGUST 10, 2015

Homes & Housing BY YINKA KOLAWOLE

US mortgage applications rebound

here was more encouraging news for the US housing market last week as mortgage applications jumped to the highest level in four weeks. The volume of applications rose 4.7 per cent from the week earlier, according to data from the Mortgage Bankers Association. This followed a 0.8 per cent rise the previous week. The increase was driven by a 6 per cent rise in the refinance Index, which showed that a drop in mortgage rates has encouraged homeowners to refinance their mortgage. Meanwhile, the seasonally adjusted purchase Index climbed 3 percent. The rise in mortgage applications came alongside a drop in mortgage rates. The fixed 30-year mortgage rate decreased to 4.13 percent in the week, the lowest level since May. July was a strong month for the housing sector with a rise in housing starts and existing home sales. New home sales proved to be a spot of weakness during the key spring summer season for the housing market.

UK housing affordability gap grows

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he gap between the most affordable and least affordable homes in England and Wales has widened, figures show. The average home in Westminster, London cost 24 times more than a typical gross annual salary in England and Wales, the Office for National Statistics (ONS) said. At the other end of the scale, the average property price in Blaenau Gwent in Wales was only four times greater than the average salary. This gap has widened since 2007, the figures show. House price rises in the most expensive 10 percent of areas of England and Wales have outstripped growth for the least expensive 10 percent of areas. “Westminster and other exclusive central areas of the capital have long been unaffordable for the majority of us,” said Peter Rollings, chief executive of Marsh & Parsons estate agents. ONS said that in 2014 - the latest figures available - the value of the least expensive homes had not returned to prerecession levels. This left some owners at risk of being left in negative equity.

HE mortgage banking sector in Nigeria has been confronted with numerous challenges that have impeded the attainment of its policy objective of acting as a catalyst for the development and provision of affordable housing in the country. Nigeria Deposit Insurance Corporation (NDIC) highlighted some of the challenges being encountered by primary mortgage banks (PMBs) in its 2014 annual report. The report stated: “Some of the challenges include: Delay in accessing NHF funds/dearth of long term funds. Most of the PMBs continued to find it difficult to provide the required bank guarantee to access the NHF. Only four out of the 42 PMBs in operations were listed on the Nigerian Stock Exchange

NDIC enumerates challenges facing mortgage banks which meant that many others did not have access to long term funds through the Stock Exchange window. “Due to lack of understanding of the nature of business of PMBs by the public, it had been difficult for the PMBs to mobilise deposits to finance their housing projects

It had been difficult for the PMBs to mobilise deposits to finance their housing projects which were usually long term in nature

which were usually long term in nature. The public prefer to open savings/current accounts with deposit money banks (DMBs) rather than with PMBs whose operations were considered to be too complicated. Another challenge is the Land Use Act, which had made the process of perfecting title to landed property burdensome, slow and costly. That had affected negatively the foreclosure procedures on the properties pledged as collateral. Accordingly, the Land Use Act needs to be reviewed to address this issue. “Also, under-developed Mortgage-Backed Securities (MBS) which allows mortgage

AGM: From Left; Mr Godwin Ehigiamuoe, Managing Director Lapo Microfinance Bank Ltd, Dr Osaren P. Emokpae, Chairman, Board of Directors, and Mrs Cynthia Ikponwonasa, Company Secretary, Lapo Microfinance Bank Plc, during the 4th Annual General Meeting of Lapo Microfinance Bank Ltd, last Thursday in Lagos. PHOTO: Kehinde Gbadamosi.

assets to be traded on recognized stock exchanges, do not presently exist in Nigeria. Securitization of mortgage assets should be encouraged to enhance marketability and promote market deepening; Appalling state of facilities like roads, transportation, power and water supply had contributed to the high cost of building construction in Nigeria. Furthermore, the high foreign exchange content of imported building materials such as cement, tiles, ceramic wares etc have made housing nonaffordable for the average and low income earners.” Experts have always identified some of the major challenges facing the mortgage banking sector to include the lack of foreclosure laws governing the default mortgage loans, the entire cost associated with the task of title transfer, poor infrastructure to provide support for house constructions and highly complicated and lengthy legislative and legal frameworks for land acquisition. Operators of mortgage finance in the country have therefore intensified their clamour for government to overhaul the housing finance system, especially strict financing laws and weak banking structures that have led to volatile markets and made investors, reluctant to do business in such trying market conditions.

Developer partners UK firm for exclusive housing projects BY KINGSLEY ADEGBOYE

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Wrothams W i n d s o r, Nigerian property adviser and real estate investment company has partnered a United Kingdom property developer, The Berkeley Group, in a bid to launch three exclusive developments known as Royal Arsenal Riverside, 250 City Road and 375 High Street Kensington in Lagos and Abuja. The Berkeley Group is made up of five autonomous companies: St. George, St. James, Berkeley, St. Edward and St. William which are all publicly-owned and listed on the London Stock Exchange as a FTSE 250 company. According to a statement from

Wrothams Windsor, Berkeley Homes is now launching Waterfront II at Royal Arsenal Riverside which boasts of 205 Manhattan Apartments as well as an exciting range of one, two and three-bedroom properties and penthouses. Waterfront II is situated on the banks of the River Thames, with over 1km of river-walk and favourably positioned close to the proposed four-acre Waterfront Park. Situated in North East London, 250 City Road is set to launch its first phase and is quickly becoming the most talked-about London residential destination of 2015. Designed by one of the most innovative and acclaimed architectural practices of the decade, Foster + Partners, 250 City Road delivers the optimum place to live and

work. Situated in the heart of one of London’s most vibrant areas and very close to the City and the capital’s tech and creative quarters, this landmark scheme lays the foundations for an enduring new community. Upon completion, the scheme will comprise 930 homes, expertly built by Berkeley Homes, a 190 bed 4 star hotel, office and retail space, all set amid breath-taking architecture conceived to complement the existing surroundings. On the other hand, 375 Kensington High Street, located at one of London’s most fashionable addresses, St Edward’s prestigious development - offers the height of luxury living in a highly sought-after neighbourhood. This development has been designed to complement its

regal surroundings, which include Kensington Palace, the Royal Albert Hall and the Victoria and Albert Museum. When complete, 375 Kensington High Street will comprise of more than 500 homes including apartments and penthouses, and will transform this corner of the Capital into a flourishing new community. Mr. Adam Jones, Director of International Properties for Wrothams Windsor noted that Berkeley Homes is a unique developer that seamlessly combines historic and contemporary buildings. “The launch of these three developments highlights Berkeley ’s commitment to developing brand new, modern buildings, which bring highquality and stylish design to the London Landscape.

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Micro-Finance

Access Bank, GMT unveils import solution scheme for SMEs Stories by PROVIDENCE OBUH

CCESS Bank Plc in collaboration with GMT Nigeria Limited, integrated logistics service provider, have introduced an import solution scheme, Finance and Logistics Worldwide Scheme (FLOWS), with a view to meeting Small and Medium Enterprises (SMEs) importation need. FLOWS is a combination of import finance and logistics services targeted at importers such as: traders, manufacturers, contractors/ vendors of large corporate

and owner of retail outlets who are into importation of non-perishable, fast moving and unrestricted goods. Customers stand a chance to benefit trade finance facilities by the bank; efficient processing of all documents relevant to the specific import; management of total landing costs for any import; lowest rates based on the strength of a consolidated package, among others. Speaking at FLOWS unveiling ceremony in Lagos, Group Managing Director, Access Bank, Dr. Herbert Wigwe, said that the platform would deliver

an end-to-end cost efficient management of the entire import process which reduces the total lead time of a typical importation transaction. He explained that the decision to bear its clients burden became necessary as a result of the hectic importation process they undergo. Wigwe said, “Serving the SME segment provides us with the huge opportunity of achieving economic development and growth across Africa, considering its criticality to the economy. “We appreciate the fact that SMEs are the future and engine room of the economy, and as a bank we are well

Oyo State Governor, Senator Abiola Ajimobi (middle), flanked by Board Members of Nigerian London Business Forum, Prof. Chris Onalo (2nd left) and participants at the just concluded UK-Nigeria Economic Forum held in London.

positioned to providing the necessary support through deliberate focus and commitment of resources towards their growth. It is vital that this integral sector of the economy gets all the support it needs to drive growth and development. The future outlook for the sector is encouraging provided that the challenges are militated against and the present gaps are adequately covered. “The opportunity in this sector is enormous and the financial sector plays a central role in the growth and development of the economy through mobilisation and deployment of financial resources,” he said. On the other hand, Deputy Managing Director, GMT Limited, Mr. Martin Thomle, assured SMEs that necessary structures would be put in place to ensure smooth process of the scheme. Thomle said that the company established in 1999 has since grown into the largest inbound logistics service provider in Sub Saharan Africa, offering integrated logistics service that spans across the supply chain transforming logistics challenges into competitive advantages and providing customized solutions to meet any logistics demand when importing goods into Nigeria. According to him, “Supported with our import financing, we add further value to import process, resulting in reduced working capital requirements and improved cash flow management. GMT expertise is in importation, exportation, sea and airfreight, transportation, import financing, warehouse services, vendor managed inventory services and project management,” he said.

NEPAD partners LASMI on funds for programme participants T

he NEPAD Business Group Nigeria (NBGN) Graduates’ Employability Improvement and Development Initiative (GEIDI), is charting ways with Lagos State Microfinance Institution LASMI on how to make funds available for programme participants. GEIDI is an intervention from the NBGN specifically designed as its contribution to reduce the scourge of unemployment particularly among Out of 50 that started, 42 participants successfully completed the six months training initiative involving vocational skills acquisition,

entrepreneurial development as well as practical demonstrations in related industries. Chairman, NBGN, Chief Chris Ezeh, said that the NBGN was set out to provide a holistic initiative that sees participants through training, employment or setting up of trades or vocations. Ezeh said this at a Photo Session and Presentation of Certificates ceremony in Lagos, saying, “There were set backs particularly with loan facilities to assist participants in setting up their businesses. The financial institution that we had its commitment before the

commencement of the program backed out along the line. “We have therefore initiated discussion with another financial institution, LASMI as it concerned provision of loan facilities for participants of the first edition and the second edition that will soon commence. LASMI has assured of its collaboration and we are at the moment discussing the relevant terms and conditions. It may involve participants forming cooperative societies. We will however get back with full details in due course,” he said. On the other hand, Acting Head, NBGN Secretariat, Mr. Dosumu Oluwole, said that

retraining of jobless graduates in technical and entrepreneurial skills would solve problem of unemployment. Oluwole puts total unemployment rate at 10.8 percent with the youth unemployment rates exceeding the adult unemployment rates. He said, “For Nigeria to solve the threat of her huge unemployment problem particularly among her teeming young graduates, attention must be given to retraining of the unemployed graduates in technical and entrepreneurial skills that will enhance their competition in the labor market. This will equally enable them to be self employers and consequently employers of labor.”

Visa to reward holiday card user with “NotATourist” campaign

he global payments technology company, Visa, penultimate week, announced plans to reward holiday card users with “#NotATourist”, an innovative, regional campaign aimed at driving international tourism during holidays. The NotATourist campaign designed to inspire travel beyond the regular tourist sites to savour truly local experiences would be running in the Middle East and African markets including, Nigeria, Ivory Coast, Cameroon, Democratic Republic of Congo (DRC) and Senegal till August 31, 2015. Also, the campaign is poised to help travellers explore destinations as local inhabitants and not as tourists by providing local knowledge using crowd sourced digital content that is showcased on Visa’s NotATourist website and the Visa Explore mobile app.

30 Lotto agents rewarded with prizes BY ONOZURE DANIA

t least 30 Sub Agents of Golden Chance Lotto have been rewarded with prizes ranging from Tricycles, Deep Freezers, Television sets and cash sums, for record of highest sales representative to the company. Speaking at the event, the Managing Director of Golden Chance Lotto Charles Arthur said that their company is the first and only one that rewards its Sub agents, adding that there are so many Lotto companies in Nigeria, but he hasn’t heard of anyone of them rewarding the sub agents who are closer to the costumers. He said that this is part of the company’s contribution of giving job opportunities to the youths as some of the sub agents are youths, some of whom are students, stating that with the business they already have, they won’t have to look for jobs when they graduate as they already have a job of their own and will also be employer of labour. Arthur further stated that the prizes that are won is to encourage them so that they can work harder.

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Tax Matters

OAGF to partner FIRS for improved revenue collection

he Accountant General of the Federation, Alhaji Ahmed Idris, has made an offer for his office to partner the Federal Inland Revenue Service, FIRS, in exploring creative avenues to improve revenue collection for the government. Making this offer while receiving a delegation from the FIRS led by the Ag Chairman, Mr. Samuel Ogungbesan, to a meeting at the Treasur y House in Abuja, Idris noted that the drop in oil revenue and the increase of revenue from taxes have made government aware of the enormous revenue potential which could be generated through taxes and other nonoil generating sectors, if properly harnessed. He further observed that although similarities exist in the functions of both institutions, their roles have been clearly defined by the Constitution, adding that the FIRS has remained one of the greatest ally of his office. Idris also said this provision has underscored the need to synergize their operations to make them more effective for the benefit of the Nigerian economy.

10 ships arrive Lagos ports with petroleum products

en ships have arrived the Lagos ports with petroleum products, waiting to berth, the Nigerian Ports Authority (NPA) said on Thursday in Lagos. This is contained in NPA’s daily publication, Shipping Position, made available to newsmen in Lagos. It said that eight of the ships arrived the ports with petrol, while the remaining two sailed in with diesel and aviation fuel. The document indicated that 34 other ships were expected in the ports from August. 6 to August. 28. NPA noted that 11 of the ships would arrive with containers, while five others were expected with general cargo. It said that eight ships would sail in with petrol, diesel, kerosine and bulk gas; while 10 other ships would sail in with rice, frozen fish, buck wheat and soya beans. C M Y K

LECTRONIC-Taxpay is an online self-service tax payment system which gives taxpayers the opportunity to pay their taxes through their banks’ online payment portals. It is an initiative of FIRS in collaboration with Nigerian Interbank Settlement System (NIBSS). It is meant to facilitate payments of taxes from the comfort of taxpayers’ offices or homes. Taxpayers can pay using the electronic channels provided by their banks such as the banks’ internet banking platform, branches and mobile banking platforms. Conditions to be met by taxpayer before using e-Taxpay platform Register and obtain your Taxpayer Identification Number (TIN) Have an account with any bank of your choice and subscribe to the internet banking function of your bank. Have sufficient funds in the account to cover the tax liability/ transaction. Steps to take to make payment through e-Taxpay platform Having registered and received a TIN, an active internet banking account and sufficient funds, then; decide the channel to use. If you decide on internet banking channel, log on to your bank’s internet banking platform e.g. GTBank Online Banking, FirstOnline, etc;

Tax payment made easy...

In the case of GTBank Online Banking, select the “Payment” option in the menu; Then select “NIBSS E-Bills payments” under the “Payment” option; Select the account to debit from, to continue; Once inside the NIBSS EBills payments, select “New Request” to start a new payment. This will take you to the NIBSS platform; then select “FIRS e-Taxpay ” from the displayed list services that the NIBSS platform provides, in order to start the tax payment in particular; you then enter your TIN (FIRS/JTB-TIN) or the TIN of the taxpayer you want to pay for;

Click “verify ” to validate that the TIN belongs to the taxpayer making the payment; A pop-up will appear with the TIN details. If ok, then go to the next stage; Select the tax type (e.g. Company Income Tax, PreOperation Levy, Value Added Tax, etc.); Enter the amount to be debited (tax sum being paid); Accept service charge for the bank (if applicable); Confirm that all the information provided are correct and valid; Submit the request. After a successful transaction, the system will generate an ‘eacknowledgement’ which can be printed online, or sent to a

specified e-mail address. The ‘e-acknowledgement’ is a confirmation of the transaction of payment of tax to FIRS which would be presented to FIRS field office for the issuance of statutory FIRS receipt to the taxpayer. A TAXPAYER SHOULD PLEASE ENSURE THE ‘eacknowledgement’ IS SUBMITTED TO THE TAX OFFICE OF DOMICILE TO GET A GOVERNMENT TAX RECEIPT FOR THE PAYMENT MADE. Real time notifications: The platform also notifies the taxpayer and FIRS through SMS alert and real time email. FIRS can view payment transactions and reports online, in real time. Tax types that can be paid using the e-Taxpay channel: e-Taxpay can be used to pay all tax types and levies collected by FIRS. They include: Petroleum Profit Tax (PPT) Education Tax (ET) Companies Income Tax (CIT) Value Added Tax (VAT) Personal Income Tax (PAYE for residents of FCT and nonResidents) Withholding Tax (WHT). This requires a schedule to be uploaded on the platform; National Information Technology Development Fund Levy (NITDEF) Capital Gains Tax (CGT) Pre-Operation Levy (POL) Stamp Duties (SD) and late filing penalty

on the use of the FIRS E-Tax Pay Solution W

hat is the FIRS E-Tax Pay Solution? The FIRS E-Tax Pay is an acronym for FIRS Electronic Tax Payment Solution. What is the specific function of the E-Tax Pay? The FIRS E-Tax Pay is an electronic tax payment platform that enables individual and corporate taxpayers effect tax payments via their respective bank accounts using self- service channels provided by any Nigerian Bank. It is based on the recipient’s account and would place a debit on the recipient’s account while applying the credit to FIRS CBN’s account real-time. How does the e-tax pay solution work? The e-tax pay solution is hosted on the internet banking platform and bank branches of commercial banks and will be available to any taxpayer who has access to the internet via PC, or handheld devices such as mobile phones. It will

enable the bank customers who are registered for internet banking make their tax payments online and also via bank branches. Will a taxpayer be charged for using the e-tax pay solution? No, there is no additional cost to the taxpayer for using the etax pay internet banking solution. Only the normal bank charges such as CommissionOn –Turnover agreed between the customer and the bank would apply. What is the specific requirement of a potential taxpayer to use the e-tax pay solution? Taxpayers that intend to use the e-tax pay solution must have registered and obtained a valid TIN (Taxpayer Identification Number) from any FIRS or JTB office and would have done their respective self-assessment in order to use the e-tax pay to pay their tax liabilities. The etax pay solution prompts for a

valid TIN upon Login and performs a system validation with the TIN before populating with the taxpayer’s records. Can a taxpayer use the e-tax pay to pay all FIRS taxes? Yes, the e-tax pay can be used to pay all FIRS taxes. It has a drop down menu list showing all FIRS taxes. The taxpayer simply has to select the tax type he intends to make payment for. Would a taxpayer receive confirmation if the transaction is successful? Yes, the taxpayer would receive a confirmation that the payment is successful and a system generated reference ID would be issued. The system would also generate an eacknowledgement confirmation to the taxpayer which he can use to obtain his tax payment receipt/credit notes from FIRS office. Does the e-tax pay solution send notification? Yes, the system would send an e-notification immediately the transaction is successful. The taxpayer would also receive a debit notification via email and SMS from his bank

confirming the payment. Can taxpayers use the FIRS e-tax pay solution to make tax payments online now? Yes. The solution has been implemented in all commercial banks. All bank customers that have their valid i-banking tokens and have registered for i-banking can access the e-tax pay under their internet banking menu under the NIBSS ‘e-billspay’ service and select FIRS e-tax pay as their tax payment channel and follow the prompts towards making the payment. They also have to have valid TINs. What are the specific selfservice payment channels under the FIRS e-tax pay solution? The specific channels wherein a taxpayer can make payments are: internet/online banking, mobile banking and bank branches. For internet and mobile banking platforms, a taxpayer can access these self-service channels using PCs, Laptops, notebooks, smart handheld devices and mobile phones.

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Killing discos? Time for rethink “FG takes over Yola Disco from private investors.” PUCH, July 24, 2015, p 27.

HE story went on to state the reason for the take over. According to the report by Everest Amaefule, “Following the declaration of force majeure by Integrated Energy Distribution and Marketing Company, the core investor in the Yola Electricity Distribution Company, the Federal Government has taken over the beleaguered power firm.” YEDC is the first but might not be the last DISCO to be taken over by the FG before long. While the decision might appear to be in the public interest, in the short term, it portends grave danger for the Nigerian economy. As more DISCOs go under, privatization of the power sector, a dream since the Structural Adjustment Programme, SAP, was introduced is becoming unraveled. Unlike the privatization of the banking, airline and communications sectors, which succeeded under Babangida and Obsanjo respectively, the first attempt at privatization of the refineries under Yar’Adua and power sector under Jonathan have created more problems than they have solved. And, there are dangers ahead. First, reversal of the privatization

of refineries, which Obasanjo criticized, and now a power company will inevitably make it more difficult for governments (FG and States) to privatize any business or sector in the future. Capital is a coward; it dreads uncertainties, especially when the capital investment is colossal and the recovery period is several decades. Taking over enterprises previously managed by public sector appointees invariably amount to re-investing in a business with a great deal of accumulated rot which we were fortunate to discard. Political connections, rather than competence, inform appointments to even the most strategic economic organizations in this country and it is still to be proved that we have changed our orientation in that regard. Nigeria once had a Governor of the Central Bank of Nigeria, CBN, who read History. He naturally left a “rot” in the system which his more able successors required years to clear. Certainly, none of the investors in DISCOs acquired a unit which required less than ten years to be turned around. Unfortunately, as things stand right now, it is doubtful if any of them will last the next five years. The reasons are not hard to discover. Without exemption, the DISCOs were the victims of 419

agreements signed with the Jonathan administration. Certainly, among the factors inducing them to invest in the sector were the promises regarding the power generation by 2014 and years beyond. Four highly respected individuals, President Jonathan, Vice President Sambo, and two former Ministers of Power, Professors Barth Nnaji and Nebo promised Nigerians, and by extension the DISCOs, the following: •Jonathan in ROAD MAP ON POWER – 14300MW by December 2013.

Without exemption, the DISCOs were the victims of 419 agreements signed with the Jonathan administration

•Sambo in 2015, 20,000MW soon (whatever that meant). •Nnaji – 5000MW by 2011, 2012 •Nebo–6000MW by December 2013, 2014, and 10,000MW by December 2015. If a private entity had promised those with whom it was signing agreements so often and failed to deliver on the promises, it would have been declared fraudulent and the victims would have headed for court. The DISCOs, which must have believed these pronouncements, before parting with their funds, would probably not have bothered if they knew Jonathan and Nebo would leave us in darkness on their way out. It is bad enough that DISCOs were fraudulently promised power supply, from which they were to make their money, their predicament was deepened when the same government also guaranteed them tariff increase by 2015 which is now almost impossible for them to receive with only five months left in the year. Suddenly, the DISCOs are requested to go and negotiate the new tariffs with their consumers. That means no tariff increase for 2015. Yet, every DISCO must have factored the tariff increase into their projections for this year. Most Nigerians must have missed the announcement by the DISCOs, in the PUNCH of July 15, 2015, page 34, by Mr Ernest Orji, of Eko Electricity Distribution Company, EKEDC.

According to Orji, “large investment in distribution network was still a mirage as the goal post keeps moving. It is scary, as many of us cannot meet payment obligations..” In addition to the Federal Government, DISCOs are also behind in their obligations to banks and other creditors and are being pushed steadily to the brink. The collapse of DISCOs, and reversal of privatization of the power sector, at a time when the Federal Government itself is cashstrapped will result in a serious setback to the Nigerian economy immediately. Nobody can guess when the mess resulting in reversal will be cleaned up and Nigerians can once again be sure of who is in charge of power distribution. When Jonathan, Sambo, Nnaji and Nebo were feeding Nigerians with atrocious lies about power generation, they were warned on these pages, in several articles that the crisis we have on our hands would be one of the consequences of their unpatriotic pronouncements. In the article POWERFUL LIES; FAMILIAR STORIES ABOUT BLACKOUTS, I made the point that the fixation of Jonathan on re-election is inducing the government to lie to investors in the power sector. It was bound to back-fire. Now the crisis is about to become a calamity.

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Aviation

Protest halts work on new terminal at Lagos airport By LAWANI MIKAIRU & DANIEL ETEGHE

NGOING construction work at the new International Terminal building at the Muritala Muhammed International Airport has suffered disruption due to incessant industrial action and protest by workers of the China Civil Engineering Construction Company (CCECC). The terminal which is amongst the five new terminals under construction in Lagos, Kano, Abuja, Enugu and PortHarcourt since 2013 has in recent times faced a lot of setbacks. Vanguard was at the construction site of the new terminal where the workers were protesting and gathered that the workers were protesting against the decision of the management of the company to lay them off gradually. It was further found out that about 3,000 workers had been sacked in June 2015 and more workers were on the line to be sacked by the management of the Company.

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The workers who were protesting and chanting solidarity songs with inscriptions on placards “Are we slaves to the Chinese?”, “They don’t care for us, they only care for themselves. We don’t have good take-home pay and we heard that they got the permission of the Governor Akinwunmi Ambode of Lagos State to shut down all their construction sites across the state. Speaking to Vanguard one of the worker, Pastor Douglas Banahene, an Electrical Engineer of the company said that the decision of the company to lay off its workers

was because it did not want to hand over the workers to the new company, that was about to take over from it. Pastor Banahene affirmed that CRCC Construction Company Limited has bought over CCECC but that CCECC has refused to give details of each worker to the new company in order for them to be properly absolved rather they decided to sack them. He said “Before we came here, we went to Alausa on Wednesday to lay our complaints because what we are passing through is difficult and we cannot bear

it as workers anymore which has been for years now, so we decided to meet the Governor to intervene for us, to see how the problem can be resolved but right now, we are here to stop our workers who are still working, we have gone to all our sites across the state to stop our workers pending when they resolve the issue. The management have been sacking us unnecessarily” “Right now we say they should pay us off, nobody is working again, casual and staff, we are demanding an amount as our pay-off, staff N800,000 and casual N600,000 for each of us apart from our main salary because they are owing us for the month of June 2015” “They say the minimum wage of a Nigerian worker is N18,000 but we as CCECC workers, we are not captured in the constitution of Nigeria, why?

We only have holidays when China is on holidays, we work from Monday to Sunday. 1n 2013, I celebrated my Christmas in CCECC. Now they have been sacking us, they don’t let us know before they even sack us” he added. Efforts to meet the management of the company to get their own side of the story proved abortive as none of the management staff was on ground during the protest of the workers. Also, efforts to contact the General Manager Federal Airports Authority of Nigeria (FAAN), Mr. Yakubu Dati to comment on the disruption of work at the new terminal building proved abortive because our correspondent learnt that he was in a board meeting as at the time of filling in this report.

Aviation stakeholders differ on proposed national carrier By LAWANI MIKAIRU

VIATION stakeholders have been reacting to Wednesday’s call by President Muhammadu Buhari for the Ministry of Aviation to hasten up the setting up of a national carrier. Most of them have called for caution in order not to repeat the mistakes that led to the death of Nigerian Airways.

Reacting, Dr. Kashim Shettima, President, Skyjet Aviation Services said the President needs to have the forensic audit of why Nigeria airlines are failing and get debt-ridden before venturing into the business. According to him “In my own opinion, I think the President needs to be properly briefed on what the current situation is. He needs

to hear the truth and nothing but the truth. There should be a stakeholders' meeting with President, where he will meet face-to-face with the industry players such as unions, airline operators and so on. Does the President know the cost of running an airline now? Does he know that a national carrier will have to be given subsidy from time to time?” “Why do we have to re-invent

what happened to Nigeria Airways? I hope it is going to be business because aviation is nothing but a business. This might be a nightmare. In as much as this is a good dream, sentiment must not replace reality.” But Mr Balami Isaac David, President, National Association of Aircraft Pilots and Engineers, NAAPE, said his members support it with all sense of responsibility.

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Economy Stories By EMEKA ANAETO, Economy Editor

ENTRAL Bank of Nigeria’s ( C B N ) Business Expectations Survey (BES) has revealed that business confidence was positive in second quarter (Q2) 2015 across most sectors. However the report also indicated that businesses were constrained by insufficient power supply, high interest rate, financial problems, competition among other operating environmental issues. The survey report also indicated that businesses showed greater optimism for improved business conditions ( m a c r o e c o n o m i c environment) in the third quarter (Q3) 2015 as they expect a decline in inflation and borrowing rates as well as appreciation of Naira. The Q2 2015, national Business Confidence Index (BCI) registered 55.5 points. At a confidence level of 62.9 points for Q3, businesses expect increased volume of activities in even as the employment outlook index for

CBN survey indicates positive business confidence Q3 2015 registered 39.4 points, far below average. About 62.3% of businesses in the industrial sector had

expansion plans for Q3 2015 while the services sector had 66 per cent, according to the survey report.

In Q1 survey respondent firms were optimistic on the macro economy as they expected business conditions and operating environment to improve. The optimism was driven by the opinion of respondents from the services sector (7.2 points), followed by wholesale/retail trade (4.1

South Africa’s Liberty to spend up to $80m on two Nigeria deals

IBERTY Holdings plans to invest up to USD80 million (N16 Billion) on two deals in Nigeria by year-end, as part of a five-year strategy by South Africa’s No.4 insurer to expand further into subSaharan Africa, its chief financial officer said. Like rivals, Liberty is expanding elsewhere in Africa as growth prospects attract the attention of corporate executives and promise to

•President Buhari

US investors eye Nigeria’s auto sector T

here were indications that investors from United States of America (USA) are expressing interest in Nigeria’s auto industry following the recent visit to the USA by President President Muhammadu Buhari The Counsellor for Economic Affairs, USA Embassy in Abuja, Mr. Alan Tousignant, said the recent visit to the U.S. has triggered a flood of enquiries from potential American investors on the country ’s automotive industry. According to a statement issued by Mr Bello Rasheed, the Principal Executive Officer

points) and industrial (1.6 points). Respondents’ optimism in the volume of total order and the internal liquidity position, buoyed the volume of their business activities in the current quarter. Similarly, the positive outlook in access to credit by the majority of firms upped the financial condition of firms in the review quarter.

(Information) of National Automotive Design and Development Council (NADDC), Tousignant gave this hint when he visited the Director-General of the NADDC , Mr Aminu Jalal, last weekend in Abuja to make enquiries on the Nigerian Automotive Industry Development Plan (NAIDP). Tousignant, according to the statement, was at the NADDC to get answers for the deluge of enquiries from the American government and its business community on the NAIDP. According to the statement, Jalal told his visitors that two

American automobile giants, Ford Motors and General Motors, had confirmed their interest in starting vehicle assembly operations in 2016. Jalal also explained that Nigeria is the largest economy in Africa with very huge market for automobile. He stressed that the auto policy is intended to transform Nigeria into a major vehicle manufacturing hub for leveraging on Nigeria’s abundant trainable labour force and material resources especially petrochemicalbased. The statement further added that Jalal told Tousignant and

members of his team that with a population of over 170 million, Nigeria could not continue to run an import dependent economy. NAIDP was launched by the Federal Government in 2014 to limit excessive automobile imports and promote massive investments in affordable made-in-Nigeria cars. Stakeholders had expressed fears that the Buhari administration would discard the policy, but he used the U.S. visit to assure investors of his commitment to the development of the auto industry.

increase the number of people who can invest in insurance to protect their wealth. “We have been negotiating with some parties in Nigeria to acquire some stakes in their businesses and we’ve made quite good progress in that regard,” Casper Troskie, Liberty’s chief financial officer, said in an interview. The company, which is targeting mostly corporate clients in east and west Africa, plans to spend about USD393 million bulking up in those markets in the longer term, Troskie said. Liberty said businesses outside its home market hardly grew during the period due to weak investment markets in east Africa. Liberty, majority owned by South African lender Standard Bank, reported a six percent in headline earnings per share, a measure which excludes the impact of a black economic empowerment scheme and other one-off items, for the six months to the end of June. Net client cash flow, or the difference between money received from customers and money given back, fell 11 percent, by a slowdown in single-premium inflows from corporate clients.

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38 — Vanguard, MONDAY, AUGUST 10, 2015

International Business

China exports fall as lower demand, strong yuan hurt growth C

hina’s exports declined more than expected in July, hobbled by a strong yuan and lower demand in the European Union, and adding pressure on Premier Li Keqiang to stabilize growth. Overseas shipments fell 8.3 percent from a year earlier in dollar terms, the customs administration said. The reading was well below the estimate for a 1.5 percent decline in a Bloomberg survey and compared with an increase of 2.8 percent in June. Imports dropped 8.1 percent, widening from a 6.6 percent decrease in June, leaving a trade surplus of $43 billion. Along with weak domestic investment, subdued global demand is putting China’s 2015 growth target of about 7 percent at risk. The government has rolled out fresh pro -expansion measures, including special bond sales to finance construction, but has held off weakening the yuan as China seeks reserve-currency status. “Exports are no longer an engine for China growth — no matter what the government does, it’s just impossible to see strong export growth as in the past,” said Bank of Communications economist Liu Xuezhi. “It means additional slowdown pressure, and it requires the government to be more aggressive in the domestic market.” Liu said China is likely to accelerate infrastructure spending as fixed-asset investment is the “the most immediate and

effective” way to stimulate growth. China’s exports to the European Union fell 2.5 percent in the first seven months of 2015 from a year earlier, while shipments to Japan dropped 10.5 percent. One bright spot was exports to the U.S., which expanded 9.3 percent. The slump in exports “compounds downward pressure on China’s economy and threatens to bring exchange rate depreciation onto the table as a tool to restore competitiveness,” Tom

Orlik, chief Asia economist at Bloomberg Intelligence, wrote in a research note on Saturday. The People’s Bank of China has adopted a vice-like grip on the yuan, allowing little movement of the currency in the onshore market. The currency ’s closing levels in Shanghai this week matched the tightest range recorded since a fixed exchange rate ended a decade ago. “On a trade weighted measure, China’s yuan appreciated sharply since

FROM LEFT: Mr Olivier Thiry, Managing Director, Chief Executive Officer, Promasidor Nigeria Plc, Mr Festus Tettey, Head of Marketing, Promasidor Nigeria Plc, and Mr Andrew Enahoro, Head Legal, and Public Relation, Promasidor Nigeria Plc, During the Press Briefing on CowbellPedia for secondary School in Nigeria, Organised by Promasidor Nigeria Plc, Held on Thursday 6-8-2015, At Just Media Studio, Kayode Street Ogba, Ikeja Lagos. PHOTO; Kehinde Gbadamosi

US investors flood embassy with enquiries on Nigeria’s auto industry – Official

United States Embassy in Abuja says President Muhammadu Buhari’s recent visit to the U.S. has triggered a flood of enquiries from potential American investors on the country ’s automotive industry. The embassy ’s Counsellor for Economic Affairs, Mr. Alan Tousignant, said this when he visited the Director- General of the National Automotive Design and Development Council (NADDC) weekend in Abuja. According to a statement issued by Mr Bello Rasheed, the Principal Executive Officer (Information) of NADDC, Tousignant visited to make enquiries on the Nigerian Automotive Industry Development Plan (NAIDP). The statement reported Tousignant as saying that he was at the NADDC to get C M Y K

2014,” said Liu Li-Gang, chief Greater China economist at Australia & New Zealand Banking Group Ltd. in Hong Kong. “Meanwhile, external demand remains weak as also shown by the poor export turnout in Taiwan and South Korea.” A yuan depreciation is not a policy option because of the government’s desire to make it an international reserve currency, Liu said. The government will be “more aggressive in easing monetary policy and lowering taxes,” he said.

answers for the deluge of enquiries from the American government and its business community on the NAIDP. It said that the DirectorGeneral of NADDDC, Mr Aminu Jalal, and the council’s Director of Policy and Planning, Mr Luqman Mamudu, received and briefed the U.S. team The statement said: “ Tousignant said that there had been an upsurge in the amount of business enquiries from America since the recent visit of President Buhari to the U.S. “He told the NADDC DG that quite a number of the latest enquiries from potential American investors were on the Nigeria auto industry. “Therefore, he needed to know about applicable staff structure, incentives, availability of skilled

personnel, current total installed capacity, local value addition and industrial clusters and infrastructure. He also asked questions on applicable safety standards, annual national vehicle demand, export potential to other countries, among others.” The statement said that the NADDC DG, Mr Aminu Jalal, was excited by the “keen interest shown by American companies and businessmen in the industry”. According to the statement, Jalal told his visitors that two American automobile giants, Ford Motors and General Motors, had confirmed their interest in starting vehicle assembly operations in 2016. “The NADDC DG explained that Nigeria is the largest economy in Africa with very huge market for

automobiles. He stressed that the auto policy is intended to transform Nigeria into a major vehicle manufacturing hub for leveraging on Nigeria’s abundant trainable labour force and material resources especially petrochemicalbased. “ Jalal told Tousignant and members of his team that with a population of over 170 million, Nigeria could not continue to run an import dependent economy,” the statement said. NAIDP was launched by the Federal Government in 2014 to limit excessive automobile imports and promote massive investments in affordable made-in-Nigeria cars. Stakeholders had expressed fears that the Buhari administration would discard the policy, but he used the U.S. visit to assure investors of his commitment to the development of the auto industry.

NIMC to deploy authentication, verification service link to MDAs, banks

he National Identity Management Commission (NIMC) says it has completed plans to deploy the National Identification Number (NIN) authentication and verification service link to all Ministries, Departments and Agencies (MDA’s) and banks. Mr Chuks Onyepunuka, NIMC’s General Manager, Information Technology and Identity Database, disclose this to newsmen in Abuja. Onyepunuka said that the deployment was part of the commission’s strategy to ensure the success of the proposed September commencement of the mandatory use of NIN. He said that NIMC had already deployed the authentication and verification service link to one of the security agencies and would soon extend to other agencies. Onyepunuka also said that NIMC was discussing with the MDA’s and banks to enable them ascertain the infrastructure to achieve the deployment of the NIN authentication and verification service link. “These institutions include the banks, Nigeria Immigration Service, Ministry of Aviation, Joint Tax Board, State House, National Universities Commission, National Pension Commission, Joint Admissions and Matriculation Board, and National Health Insurance Scheme. Others are the Federal Road Safety Commission (FRSC), Federal Inland Revenue Service (FIRS), among others. Government institutions and agencies require the biometrics of individuals to offer functional services or for security reasons. “They are required by law to key into the NIMC National Identity Database for the purpose of identity management and verification,” he said. Onyepunuka said the verification and authentication would be done both online, which has two approaches, and the offline platform. The online version has the web portal approach used for NIN verification alone, while the desk top is a robust windows based approach that allows enrolee conduct the NIN verification,” he explained. He added that, on the presentation of NIN or the fingerprints, the individual or organisation requesting such proof would utilise the online NIMC verification service to confirm such identity.

Vanguard, MONDAY, AUGUST 10, 2015 — 39

Advertising & Promotions

How First Bank, PayPal partnership aid contactless transaction STORIES BY PRINCEWILL EKWUJURU

INCE the introduction of Automated Teller Machine, ATM, Nigeria shoppers have used credit and debit cards in several transactions, locally and internationally running to millions of Naira The adoption of this payment system has helped drive the use of plastic money rather than cash. Its introduction has also helped in facilitating business transaction, an indication that use of cards have risen in the last one year. However, the fast growing card culture and the rapid acceptance by the Nigerian populace has led to increased competition and innovation by banks which are the delivery vehicles of these cards. Of the banks, First Bank of Nigeria, FBN Plc’s partnership with Paypal, one of the largest global online payment processors and the bank’s ability to control a sizeable portion of the market is largely on its innovative and differentiated product offerings occasioned by the paypal platform. According to the bank’s Group Head, Marketing and Corporate Communications, Mrs. Folake AniMumuney:”our card products have been specially designed to give convenience and support customers domestic and international transactions. With increased transaction activities and a good number of domestic/ international travels, it is

essential our cardholders are informed of existing rewards and partner locations where they can use their cards at discounted rate on purchases.” On this note, Vanguard conducted an investigation on the viability of the bank’s credit/ debit cards to authenticate the workability of these cards by users. The investigation showed that customers with the bank’s Firstonline card have been able to get absolutely things needed to make most of their shopping, while they travel for holidays or in Nigeria. Some persons spoken to at

the Muritala Mohammed International Airport, MMIA, some travellers spoken to who are signatories to the Firstonline card said they were going to do most their transactions overseas with their firstonline inspired paypal card which they described as a unique offering by the bank. Like, Jude Agbosureme, said: “First bank needs to aggressively drive this message, particularly as the summer approaches, regarding the fact that users have an edge by signing on to Firstonline, and linking their Paypal accounts to enjoy automatic

higher spending limits without verification hassles.” In Nigeria, FirstBank debit and prepaid cards are now accepted on the PayPal platform, Agbosureme hinted. From what i understand said Jimoh Alo, “with the product the bank targets frequent International Holiday Makers, business persons / entrepreneurs, and high net worth individuals.” With more than 50 million merchants and growing, PayPal boasts of over 100 million users across the world in 193 countries and regions with wide acceptance on merchant websites, preferable on eBay.

boosts sports betting profile

ports betting portfolio in Nigeria has increased with the entrant of Superiorbetng.com, a digital sport betting game. The Chief Executive Officer of the company, Mr. Tunde Adebayo said at a ceremony in Lagos that the unveiling of SuperiorBet is aimed at turning fun, excitement and relaxation into an empowerment for Nigerians. According to him, in this game, participants place stakes on their selection of possible outcomes from different sports events on the Superiorbetng.com platform. On the Superiorbetng.com platform, odds are attached to each possible outcome from available sports events, resulting in players winning cash prizes when their selected “possible outcomes” match the “actual outcomes” from the sports events in question. This digital gaming product is strictly for Sports Games (both ‘Real-life’ and ‘Virtual’),” said Mr. Adebayo.

Kasapreko launches new products By ANOZIE EGOLE

FROM LEFT: Matron, Echoes of Mercy and Hope Foundation, Mrs Funmi Adedokun; Program Officer, Women in Technology in Nigeria, Olamide Ogungbemi; Administrator, Echoes of Mercy and Hope Foundation, Mrs Anne-Marie Obikoya; Intel She Will Connect Spokesperson, Titilope Sonuga during a visit by Intel She Will Connect spokesperson to the Echoes of Mercy and Hope Foundation, in Lagos.

51 yrs after, OAAN commissions own building A

FTER 51 years of existence, Outdoor Advertising Association of Nigeria, OAAN, has commissioned its new ultramodern building, elects new executive to pilot affairs of the Association for the next two years. Speaking during the commissioning, which also coincided with the 30th Annual General Meeting of the Association, the outgoing President, Mr. Charles Chijide, said that the relocation of OAAN corporate head office to a new ultra modern one story building complex was part of the major success recorded during his administration. “Aside the newly commissioned building, capacity building has been slated to be a yearly training program. Having signed an MoU on behalf of the association, the University has

Superiorbetng.com

now agreed to rotate the training round major Universities in the United State of America. And the one for next year will be in partnership with Harvard University.” “Also we have been able to actualised the resuscitation of poster award that has now gained international

dimension, capacity building in partnership with Dakota University USA. Our relationship with lawyers in media has been made more mutual, while we foster more partnership among members and regulators.” He urged the incoming administration to be more focus

and committed, “aside from the newly commission office at Kofo Kasumu Avenue, Lakeview Phase 1 Estate, off Ago Palace Way, Amuwo Ododfin, the outgoing administration has recently acquired a parcel of land in Owerri, which we expect the incoming executive to follow up and secured.”

Chi Limited unveils ‘Chivita 100% or Nothing campaign

hi Limited has unveiled a new marketing communication campaign tagged ‘Chivita 100% or Nothing’ as part of effort to reinforce its flagship’s brand proposition and strengthen the credential of the brand in the market. The campaign which is deployed through Television, Digital, Out of Home, Consumer Activation and Point of Sales initiatives demonstrates the brand’s commitment to quality and excellence. Speaking on the marketing campaign, Chi

Limited’s Head of Marketing, Mr. Probal Bhattacharya, said the campaign highlights Chivita 100% with purity, commitment & nothing but the best which is its recipe for premium quality, thereby providing all the ingredients for success, achievement & leadership” “We do everything possible to ensure that Chivita 100% lives up to its brand promise of goodness and the best there is. This also explains our partnership with the world’s most valuable football club brand because for us it is the best or nothing” he said.

asapreko, makers of popular Ghanian drink, Alomo bittters have launched two new products; Kalahari and Carnival strawberry into the Nigerian market. The Company said the launching of the new products was to make Nigerians enjoy quality flavoured drinks at an affordable price. Speaking, Managing Director of Kasapreko Company Nigeria Limited, Kojo Nunoo, said both brands were the outcome of painstaking research and development work to ensure that Nigerians enjoy quality products at an affordable price. “We are giving full assurance to Nigerian consumers that every product from the stable of Kasapreko have been produce d to the highest of

production and quality assurance standard to ensure that the drinks meet all consumption requirements globally and most especially locally as evident by the NAFDAC product registration number,”. He said. Speaking in the same vein, Marketing Manager, Peter Adegor said the two brands of the products had already debuted in Ghana and the decision to bring them to Nigeria was based on the identification of gaps in the spirit market in Nigeria. C M Y K

40 — Vanguard, MONDAY, AUGUST 10, 2015 Email:lesleba@lesleba.com, lesleba@gmail.com Blog page:www.lesleba.com/blog2 Website: www.lesleba.com Tel:0805 220 1997

Yoyo naira exchange rates and common sense

igerians were clearly bewildered by the recent wild swings in the Naira Exchange rate. Regrettably, however, despite Godwin Emefiele’s earlier assurances to the contrary, Naira was officially devalued from N155=$1 to N165 and later to N197=$1 within his first year as Central Bank Governor. Expectedly, the dollar rate quickly skipped beyond N220=$1 in the parallel market, while speculative dollar accumulation by hoarders and the subsequent denial of access to official forex to importers of 41 sundry items, later catapulted the parallel market Naira exchange rate beyond N240=$1. Notwithstanding, the CBN has again assured Nigerians, that the current Naira rate would be stable, as it is inappropriate for the tail (i.e. the small parallel market) to wag the dog. Nevertheless, the CBN may have been in denial of the inflationary potential on the economy of the ultimately higher market prices for rice and 40 other items recently banned from official dollar purchase. Consequently, the inevitable reality of such inflationary push, will compromise the achievement of CBN’s core mandate for price stability for some time to come. Furthermore, although parallel market Naira exchange rates improved immediately after the rejection of forex deposits from bank customers, such improvement will probably also be short-lived as this process will only constrict the primary source of dollar supply from CBN’s real time forex allocation to over 1,000 licensed Bureau de change (BDC) nationwide. It is certainly not best practice for Central Banks to formally fund BDCs, but CBN’s

apparent favorable disposition is clearly the result of the IMF’s misguided prescription which made such liberal dispersal of official dollars to BDCs as one of the conditionalities for debt exit in 2005-6. Remarkably, monthly dollar supplies to BDCs often exceeded $1b when Nigeria’s dollar reserves approached the premium level of about $60bn; nevertheless, each BDC is currently entitled to $30,000 allocation weekly, while Nigerians with Naira denominated debit cards can still also obtain $300 per day directly from ATM terminals abroad at the official rate of N197=$1, up to a limit of $50,000 annually, i.e. down from the earlier stupendous $150,000 per person. CBN’s sustenance of such liberal forex allocations is clearly inexplicable, especially, when infact, probably less than 1% of Nigerians earn $50,000/ annum, while dollar allocations to BDCs ultimately also fund imports of contraband and forex round tripping with the collateral threat to the survival of local industries and the disenabling economic dislocations. Nonetheless, we have returned once more to the forgone era of multiple exchange rates, despite the attendant economic distortions of this practice; for example, while faith pilgrims enjoy forex rates at N160=$1, importers of 41 delisted items would endure N225-250/$, while fuel and all other imports are favored with the currently subsidized price of N197/$. Clearly, the wide disparities between the different Naira exchange rates and the huge opportunity for gain will undoubtedly instigate sharp practices in the forex market. Fortunately, the Senate has invited the CBN Governor to

explain the reasons behind Naira devaluation and the wild swings in the parallel market. Expectedly, Emefiele will identify increasing speculation and the drop in crude oil prices/revenue as the primary causes of the Naira’s predicament. It would be unfortunate if the Senate is sufficiently gullible to accept drop in crude prices/ revenue as a plausible cause of Naira depreciation, without asking the CBN Governor to explain why the Naira exchange rate remained static and unexpectedly even depreciated marginally when crude prices conversely exceeded $140/barrel, and forex reserves exceeded $60bn after debt exit in 2006! Plausible reasons for the price contradictions in the forex market have, lately, also agitated the minds of individuals as well as critical interest groups. For example, one, Matthew Somoye suggested in the Guardian

C B N ’ s sustenance of such liberal f o r e x allocations is c l e a r l y inexplicable, e s p e c i a l l y, when infact, probably less than 1% of Nigerians earn $50,000/annum

advertorial of 5/8/2015, that the solution to a stable stronger Naira and the elimination of multiple exchange rates would be found in the supply side of the foreign exchange equation; Somoye therefore recommended as follows: “Every month, both the federal and state governments receive monthly allocations from crude oil dollar denominated revenue and CBN converts the Naira and gives out to States. This huge Naira volume chases few dollars which further fuels an already bad situation. CBN should change the order by paying the states and federal agencies in dollars” ....... “and for the commercial banks to buy the dollars from the state governments and sell to importers. The implication of this is that the so called FX that is scarce will not be that scarce, as genuine importers under eligible transactions can relatively find dollars from the interbank and the interbank will become rich again”. Similarly, the Ikeja Branch of the Manufacturers’ Association of Nigeria concluded as follows in a Guardian advertorial titled “Manufacturers Association of Nigeria’s position paper on the management of foreign exchange in Nigeria to enhance the performance of the manufacturing sector ”:( Guardian 5/7/2015 edition, pg 50) “We, as manufacturers will be very satisfied if inflation falls to less than 2% while monetary policy rate is anchored on a rate between 13% so that cost of funds to the real sector will fall below 8% across the board! We are confident that the adoption of dollar certificates for the allocation of distributable dollar revenue will quickly bring about the desired industrially supportive

environment and also reduce the pool of excess Naira liquidity that drives corruption in the public service.” Finally, in its editorial of 6/ 8/2015, titled “CBN and the economy”, the Guardian Newspaper examined the origin and trajectory of exchange rate management and concluded as follows: “For Nigeria to begin to close the gap by facilitating extensive investments that create jobs, Buhari should urgently stop both the politically dictated wrongful withholding by CBN of Federation Account dollar allocations and their simultaneous substitution with freshly printed naira amounts by not only directing the country ’s public sector and autonomous forex to be transacted appropriately but also allowing the apex bank the leeway to professionally carry out its statutory mandate”. Instructively, the CBN is clearly familiar with the recommendation of dollar allocations for dollar denominated revenue and indeed the Vision 2020 blueprint’s ‘monetary policy thrust’ also recognized that its adoption would strengthen the Naira exchange rate ad significantly reduce the rates of inflation and cost of funds. In retrospect, after over 5years of denial, the CBN adopted this enabling payments system in its “Strategic Agenda for the Naira” in August 2007. Regrettably, the initiative was Dead on arrival as the incumbent Attorney General, one Andoaka, summarily truncated the reform as unconstitutional. Sadly, the CBN authorities have become too timid since then to even contemplate this clearly enabling reform strategy that would induce price stability. SAVE THE NAIRA, SAVE NIGERIANS.

Business & Economy

Cyber risk, regulation, increasing tax burden top threats for insurance CEOs

he findings of two recent reports by PwC that chart the top risks in the global insurance sector and the growth concerns of insurance Chief Executive Officers, CEOs shows that cyber risk, interest rates and growing tax burden were among the top risks for insurers. This is indicative of how high these issues have become for the industry when looked at in conjunction with regulatory developments and the broader macro-economy. One of the reports, Insurance Banana Skins 2015, a global study conducted by CSFI

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(Centre for the Study of Financial Innovation) in conjunction with PwC polled over 800 insurance practitioners and industry observers in 54 countries

This is indicative of how high these issues have become for the industry when looked at in conjunction with regulatory developments

including Nigeria,to find out where the greatest risks are in the next 2-3 years stated that regulatory risk emerged as the overall top risk for participants in the survey for the third successive time, underlining the deep impact regulatory change is having. The report says that new rules governing solvency and market conduct could swamp the industry with costs and compliance problems. It could also distract management from the task of running healthy businesses at a time when the industry faces radical structural change.

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

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

Media/Marketing E-Commerce Industry Micro Finance Graphics Department

Vanguard, MONDAY, AUGUST 10, 2015—41 Send Opinions & Letters to: opinions1234@yahoo.com

Aregbesola: The idealist as politician

HEN I was Acting General Secretary of the Nigeria Labour Congress (NLC) in 2011, we ordered workers' strikes following disagreements on the implementation of the new Minimum Wage. Ogbeni Rauf Adesoji Aregbesola, Executive Governor of the State of Osun asked me for a discussion in Abuja. The state was on its knees due to the strike and negotiations with the labour leaders had broken down, how can I assist? I advised him to increase the quantum of the funds his government was offering so that the workers can have a better payment table. In return, I offered to ask the state labour leaders to return to the negotiation table. He protested that the wage bill will be too high and that the workers ought to realise that the all-round development schemes he was implementing would reduce their financial burden. I told him they realise this, but that the workers first priority is their survival and that of their families; that the primary concern of a bird is to eat, before flying to behold the wonders of the world. He looked disappointed, but I told him that unless he takes my advice he would need to break the workers, or they will break him. I

told him I had no doubt who will be broken and that he needs to learn from one of his predecessors, the prudent Chief Bisi Akande who could hardly finish his first term as a result of his wars with workers. Aregbesola felt he had the backing of the populace, and I wished him luck. I could see he was genuinely committed to sustainable development in the state. I could also see an idealist as governor. I can reveal that in the January 2012 General Strike and street protests over fuel price increase, he was one of two governors I know, who stood by the Nigerian people, and even provided us with much needed information. He also stoutly stood against the Jonathan Government declaring a state of emergency in the country to break the strikes. In contrast, almost all other governors including from the opposition parties, queued behind the government of the day. This year, when the list of twenty three state governments owing workers salary and pension was published, Osun was listed as owing six months. A state like Enugu owed parastatal workers twelve months, and pensioners,

five years. Ogun State had not paid pension for fifty two months while Benue State was a basket case. Despite being one of the least debtors in this roll of dishonour, the focus has been on Aregbesola with a serving judge demanding his impeachment. To some, this could be a way of getting back at Ashiwaju Bola Ahmed Tinubu, to whom he is closely identified. But I believe it might have to do with his antecedents as an activist, and peoples’ expectations. This focus, tends to overshadow the social engineering, this mechanical engineer is carrying out. Unlike most governors whose sense of governance is to build some roads or kitchenettes, advertise them and impose huge taxes on the populace, Aregbesola, to use a trite, thinks outside the box. He makes a linkage between policy and the peoples’ interests. He does not just

In his zeal to frog-leap an essentially agrarian society into a 21st Century industrial one, Aregbesola forgot his Achilles heel; that like other states, Osun is dependent on monthly allocation from the federation account

Hiroshima/Nagasaki: Arms race malady By Bobson Gbinije “So long as mankind shall continue to lavish more praise Upon its destroyers than upon its benefactors war shall remain the chief pursuit of ambitious minds” -Edward Gibbon (1737-1794) HE intellectualisation of trite statements remains the stout tradition of the literate and the academia. But no amount of academic acrobatics and pedantic romanticisation can stop or prevent the chrysalis from carrying its own load-so mankind has borne its own self-inflicted tragedies and bestialities of war to an enormous extent. th The month of August marks the 69 anniversary of the unleashing of the atomic bomb on the people of Hiroshimath th 6 August, 1945 and Nagasaki-9 August 1945 respectively. Over 150,000 people were killed and millions injured, and some would carry an emotional eternal wound in their hearts. It ultimately culminated in the end of the nd 2 world war (1939-1945). The dropping of the “ANOTA GAY” as it was called, climaxed the writing of one of the saddest, darkest and bleakest pages in the history of mankind, confirming the Shakespearian refrain that “Men have lost their reasons and powers have flown to the brutish beast” and further resonated by Nicholo Machiavelli (14691527) in his book The Prince that “you must know that there are two ways of contesting, the one by the law, the other by force; the first method is proper to men, the second to beasts; but because the first is frequently not sufficient it is necessary to have recourse to the second” and this the Allied Forces led by America did.

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Paraphrasing the renowned scientist Albert Einstein –"It is not the weapons invented that are dangerous, it is the ‘Man” who put them to wrong use”. The extent to which “Man” could go in exercising his primordial and Neanderthal propensities came to the fore in the Hiroshima and Nagasaki tragedies. It remains not only a tragedy for Japan but also for the human race. In the “Memoirs of Survivors” (publication of the Japanese authority) quoted in the “AWAKE” A Jehovah’s Witnesses publication of August 22, 1985one Nosuyo Fukushima said: “when we got to the hospital, it was packed with people. The heads and faces of many of them were covered with blood, while others had burned flesh dangling in strips. The hair on some of them, being singed by the heat, was standing on end. Others with fragments of wood and glass blasted into their bodies, were groaning deeply. Their faces were so bloated that it was difficult to tell one from the other. The city had become the large, burned outfield, with only an occasional crushing concrete wall still standing in the ashes. Everynight, there were fires on the river bank where the dead were cremated. I vividly recall the red glow of the fires and

The world has not learnt any lessons from the Hiroshima and Nagasaki’s colossal malady and genocide

conceive projects, but also possible derivatives from the particular project, and how it is linked with other projects. He is like a town planner who ensures that the various development programmes are well situated for the convenience of the populace, and to enhance further development. In tackling the mass unemployment monster, he began, in 2013, an ambitious Osun Youth Empowerment Scheme (O’YES) under which 20,000 unemployed youths were engaged for two years. Tailored after Kwame Nkrumah’s Young Pioneers, beneficiaries were orientated to have loyalty to the people and serve them. Then they were taken through skill acquisition. This became a pool of educated, conscientized, skilled and empowered youths from which the state drew thousands of new recruits into its public service. The second group of 20,000 youths in the 2013-2015 batch, are rounding up their programme. In introducing free education, his goal was not just literacy, but complete education which included membership of the Omoluabi (virtuous) Boys and Girls Club with emphasis on citizenship and physical training. One major innovation is the provision of one balanced meal a day for all children in school. This ensures their wellbeing and encourages parents to send their children to school. As part of the linkage, the food as much as possible, is locally produced thereby ensuring a linkage with the wellbeing of farmers in the locality of the schools. Also, the uniformed cooks and their assistants are taken from the schools’ locality thereby establishing a bond between community and school.

the terrible odour of the burning bodies, like oily fish being grilled. I still shudder and feel sick at heart whenever I think of it” This is just one testimony from a catalogue of so many. It vividly portrays how gruesome a nuclear war could be. But have we learnt any lessons from this hideous nightmare, belligerency and sanguinary proclivities of man. This deep scar and cicatrix will be left on the minds and consciences of many Japanese and, nay, mankind for a long time to come. We remain inveterately chagrined at the horrors and destructiveness of war. But have we learnt any lessons? In the historic, concessionary and statesmanly speech of Emperor Hirohito th of Japan on the 15 of August 1945 he said: “It is according to the dictates of time, and fate that we have resolved to pave the way for a great peace for all the generations to come by enduring the unendurable and suffering the insufferable”. By this singular act and subsequent amendments of their constitution Japan became a “Pacific Nation” denouncing and renouncing war as a means of settling disputes. In Japan’s constitution, Article 9 glaringly states that “Aspiring sincerely to an international peace based on justice and order, the Japanese people forever renounce war as a sovereign right of the nation and threat or use of force as means of settling international disputes. In order to accomplish the aim of the preceding paragraph, land, sea and air forces, as well as other war potential, will never be maintained. The right of belligerency of the state will not be recognized”. From the foregoing, Japan seems to have learnt its lesson from the atomic bomb episode. But a more insightful view will show that in recent years, Japan is on course again to acquiring weapons and the setting up of military units. It was

In integrating basic education with modern information technology along the lines of India’s Kerala State, the government provided pupils with Tablets (Opon Imo) Also in providing school uniforms for pupils in public schools, the Aregbesola administration insisted the textile contractor must establish a factory in the state and train locals to sew the uniforms. The Government also introduced a Rural Enterprise and Agriculture Scheme and put in place an emergency system with ambulances. To check insecurity, it bought armoured personnel carriers and a surveillance helicopter. In his zeal to frog-leap an essentially agrarian society into a 21st Century industrial one, Aregbesola forgot his Achilles heel; that like other states, Osun is dependent on monthly allocation from the federation account; so when the allocation dropped from N5 Billion in February 2013, to N540 Million this April, he was like a pilot who had overshot the runway. Aregbesola tends to be programmatic like Obafemi Awolowo, a populist similar to ‘Penkelemesi’ Adelabu Adegoke, an orator in the mold of Samuel Ladoke Akintola, with a Talakawa spirit like Aminu Kano. But in a polity controlled by APC and PDP where all birds congregate; it is difficult to differentiate doves and pigeons from hawks and vultures. In a sense, he is an idealist, and the problem with this tribe of people which I belong, is that we do not fully understand our environment. However, while realists perpetuate the status quo, only idealists change society.

superlatively present, although playing background supportive role to America and is allies in the Guff war. It is a known fact that Japan has stepped –up it military budget and there are many unmentionable covert activities of the Japanese government. Does this show that Japan has learnt its lessons? The allies have of course become worse. Even after the end of the Cold war era, Glasnost and Perestroika. America and Russia are still covertly and overtly busy stockpiling weapons of mass destruction. The wanton acquisition of dangerous weapons like the Tomographic X-Ray Laser, Neutron, Atomic and Hydrogen bombs. Different ranges of missiles- the exocet, patriot, scud and the intercontinental ballistic missile (Z rangeICBM) etc. Does this stockpiling of nuclear weapons show any penitence on their side? In the midst of fear of neighbours, likely outbreak of the third Word War and distrust, the nuclear weapon acquisition fever is currently taking over the whole world, with America as the supreme culprit. There is current nuclear craze in South East Asia. Recently India tested, followed by Pakistan and Bangladesh. We hear that Iran has followed suit. There is massive nuclear weapons proliferation. Africa is not left out. South Africa has also publicly acknowledged its nuclear capability. Its likely Nigeria is doing something underground or it will do something as soon as there is political stability. Nigeria now has Satellite in Space and more. In the light of the aforesaid one could state without fear of contradiction that the world has not learnt any lessons from the Hiroshima and Nagasaki’s colossal malady and genocide.

•Mr. Gbinije, a social critic, wrote from Warri, Delta State.

42 — Vanguard, MONDAY, AUGUST 10, 2015

PETITION: Aregbesola reacts, calls Judge liar, incompetent By Gbenga Olarinoye

SOGBO—GOVERNOR Rauf Aregbesola has described Justice Folahanmi Oloyede ,who petitioned the state House of Assembly to investigate him and his deputy, Mrs Titilayo Laoye-Tomori for alleged mismanagement of the state resources as a blatant liar and an incompetent judge. The seven-man investigative panel set up by the House to investigate the petition have since dismissed it for lack of merit and also recommended the judge to the State Judicial Council, SJC, and the National Judicial Commission, NJC, for sanction. But a human rights activist in the state and Chairman, Civil Societies Coalition for the Emancipation of Osun State CSCEO, Comrade Adeniyi Alimi Sulaiman has urged the women activists in Nigeria to rise up in defence of Justice Oloyede, whom he described as a courageous woman judge. Aregbesola had at the 50th birthday party organised by the speaker of the state Assembly, Hon. Najeem Salaam, taken a swipe at the Judge, saying she has lost her integrity in the judiciary. His words: “It is time for me to speak on the petition written by one of the judges in the state. I want to say that there was no basis for the petition. Its all lies. She is a judge that doesn’t know herself as judge. You can only see a judge and they are not to be heard. She (Oloyede) doesn’t have any substance in the petition. She lied against me. “Newsmen should have

INVESTITURE: From left; Former chairmen of the Correspondents' Chapel of Nigeria Union of Journalists, NUJ, Oyo State, Mr Sola Adeyemo, Mr Dele Ogunsola and the incumbent chairman, Pastor Ola Ajayi jointly presenting the life patron investiture plaque to Olugbo of Ugbo Kingdom, His Majesty, Oba Fredrick Obateru Akinruntan at his palace in Ugboland during the monarch's investiture as the Life Patron of the Correspondents' Chapel, NUJ, Oyo State. Photo by Dare Fasube. checked the financial statement of the allocation before writing their stories. Most of them want me out of office but I will triumph. If I had collected N538 billion as alleged, Osun would have turned to Dubai. I am happy Buhari went to USA and it was said that one million barrels of crude oil are being stolen everyday. “Is there any country that would lose such every day that won't suffer economic hardship? God will open economic doors to Osun soon. I was accused of not living in the state. I was perturbed by this report but the weekly executive meeting register proved them wrong. “I have never gone on leave since November 2010 that I came into government. There is no truth in judge’s petition. I will tell

my side of the story bit by bit. I Osun State can now move on am confident that before the end after the cacophony of lies by of the month the hard time will Justice Oloyede. start to ease in the state,” the PDP hails planned parley governor added. Meantime, the Osun State chapter of the Peoples Rep commends Democratic Party, PDP, has Assembly’s decision In another development, a commended Governor Rauf member of the House of Aregbesola for heeding its call Representatives in the 7th for Stakeholders Summit to solve Assembly representing Ife the myriads of problems Federal Constituency, Mr Rotimi confronting the state, but Makinde, has hailed the verdict denounced what it called of the Osun State House of unserious parley being called. Assembly to dismiss the petition of Justice Folahanmi Oloyede against Governor Aregbesola. In a statement issued yesterday in Lagos, Makinde said the ruling of the assembly has shown that falsehood and deceit can never defeat truth, adding that

‘Only kingmakers can announce Ooni's death’ By Ola Ajayi

HE Olugbo of Ugbo Kingdom, Oba Fredrick Eniti Olorunda Obateru Akinruntan, Okoro Ajiga 1, has explained that no other person or organisation has the right to announce the death of a monarch other than the kingmakers. He said this while explaining the controversy that greeted the death of Ooni of Ife, Oba Okunade Sijuwade, Olubuse 11. While stating that the controversy had denied the highly referred monarch the expected sympathy his death would have attracted, he said neither the chiefs nor the media that broke the news of the demise of the king

INEC acting Chairperson is Buhari’s in-law, Fayose alleges

could be blamed, but asked for the management of the issue by the whole Yoruba race, whose tradition is at stake. He said this after his investiture as the Life Patron of the Correspondents Chapel of the Oyo

State Council of Nigeria Union of Journalists (NUJ), in his palace. He said; “While nobody has the right to announce the demise of any monarch except the traditional chiefs in the palace, yet, the media on

the other cannot be blamed for doing their job. We Yoruba should manage the situation in such a way that the tradition will be respected and not thrown over board in the name of modernity through the internet.”

Buhari'll investigate supply of military weapons —Presidency now, not only in the oil

BUJA— THE Pre si- dency on Sunday said that President Mohammadu Buhari will launch a full scale probe into the awards of contracts for the supply of military weapons by the immediate past government. It also stated that the president was keen on ensuring financial transparency in the public revenue.

The Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, gave the hints yesterday while speaking on a Channels Television programme: “Politics Today.” He said: “The president is interested in every penny that leaves the Nigeria’s treasury. As you are aware, records are being checked right

sector, but also in the various departments of government. “So, Mr President is really interested in what has happened to the equipment that have supposedly been bought and supplied, some of which might be there on the ground and might not be. Only a thorough audit will actually reveal this."

DO EKITI— GOVERNOR Ayodele Fayose of Ekiti State, has alleged that Mrs Amina Zakari, the Acting Chairperson of the Independent National Electoral Commission (INEC) is President Muhammadu Buhari's inlaw and that the position is unknown to the 1999 Constitution of the Federal Republic of Nigeria. The governor, who called on Nigerians to rise in defence of the impartiality of INEC, added that: “The most honourable thing for President Buhari to do is to rescind the unlawful appointment of Mrs Zakari as INEC Acting Chairperson.” In a statement issued yesterday by his Special Assistant on Public Communications and New Media, Lere Olayinka, Governor Fayose said; “Since Mrs Zakari’s tenure as INEC National Electoral Commissioner has expired, she cannot continue to preside legally on INEC affairs, except if duly appointed as substantive Chairman of the commission as provided in the constitution.''

Vanguard, MONDAY, AUGUST 10, 2015 — 43

C M Y K

44 — Vanguard, MONDAY, AUGUST 10, 2015

Vanguard, MONDAY, AUGUST 10, 2015—45

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YOU CAN BOOK YOUR ADVERT AT: TRINITY MALL, 79/81 OBAFEMI AWOLOWO WAY, IKEJA. CALL: 08028289689, 08035449960 MURPHÝ'S PLAZA 27, SANUSI FAFUNWA STREET, VICTORIA ISLAND. CALL: 08038092373, 08033163424

I am resolute in fighting corruption— Buhari •says corruption has no political parties •denies affinity with Akwa Ibom, Rivers, Abia Elections Tribunals By Levinus Nwabughiogu

BUJA—President Muhammadu Buhari said, yesterday, that he was unwavering in the fight against corruption in the country. He also stated that corruption has no political party, no religion and no ethnic group and as such there would no partisanship in the fight against the scourge. The president’s remarks followed an accusation by the Senate PDP caucus that he was selective in the antigraft war. Speaking through his media aide, Mallam Garba Shehu in a statement, the president regretted the accusation, saying it was absolutely false and unfounded. “We have noted with regret, the allegation by members of the PDP Senate Caucus that the present administration is being selective and partisan in its prosecution of the war against corruption. “We state without equivocation that the allegation is false, baseless and totally unjustifiable. For the avoidance of any doubt whatsoever, we affirm that having made his zero tolerance for corruption clear to all and sundry, President Muhammadu Buhari does not micromanage or interfere in the daily work of Nigeria’s anticorruption agencies. The wild allegation of bias and partisanship in the fight against corruption shouldn’t have come therefore from respected and distinguished members of the Senate of the Federal Republic of Nigeria. "That claim belongs to the past and not the present. Public officials and other leaders accused of corruption by relevant agencies should plead their innocence, not malice. President Buhari’s unwavering stance is that whosoever is charged with corruption should face the law irrespective of whether they are members of the of All Progressives Congress (APC) , Peoples Democratic Party (PDP), or any other political party. As far as the President is concerned, corruption has no political party, no religion and no ethnic group.” The presidential spokesman also reminded

the PDP caucus that President Buhari’s message during the campaign was to stamp out corruption in Nigeria, saying that he was wholly committed to the fight. “It is important to remind the PDP Senate Caucus and all Nigerians that right from 2003 when he started campaigning for the Presidency of Nigeria, President Buhari consistently promised to do his best to curb corruption in the country. The President remains wholly committed to fulfilling that promise and will not be deterred from the relentless prosecution of the war against corruption because he remains convinced that, as he has said, “unless Nigeria kills corruption, corruption will kill Nigeria.” On the claim that the presidency was meddling in the election petitions tribunal, Shehu also stated that president Buhari does not interfere in the constitutional duties of the tribunals. He specifically mentioned Rivers, Abia and Akwa-Ibom States, saying they the tribunals do not operate under the guidance of the President. “The claim by the PDP Senate caucus that President Buhari and his administration are meddling in election petition cases through the Department of State Services (DSS) is also untrue. The duties of the DSS and other security agencies are clearly spelt out in the laws establishing them. The Federal Government led by President Buhari does not give them instructions regarding their daily operations. Election Tribunals and the Independent National Electoral Commission in Rivers, Abia and AkwaIbom States do not operate under the guidance of the President. “Any individual or group of individuals who think that their legitimate political and civil rights are infringed upon by the DSS or any institution is advised to seek protection and redress under our constitution and laws of the Federal Republic of Nigeria instead of resorting to baseless allegations against the Buhari Administration. On President Buhari’s watch, the rule of law, not impunity, shall govern every aspect of life in Nigeria."

46 —Vanguard, MONDAY, AUGUST 10, 2015

Borno govt sets condition for Boko Haram to negotiate with FG M

By Ndahi Marama

AIDUGURI—BORNO State Deputy Governor, Alhaji Zannah Mustapha, yesterday, described the speculated pleas by the Boko Haram in the media to negotiate with the Federal Government as a welcome idea, saying this could only hold if the militants agreed to lay down their arms. He also urged returning Borno refugees from Cameroon to identify and expose any terror suspects among them as they were being screened by the military and other security agencies at Yola Internally Displaced Persons, IDPs, camps, before their transportation to Maiduguri for resettlement and rehabilitation. Mustapha made the declaration in Yola, Adamawa State, while returning from the Burnt Bricks of Internally Displaced Persons, IDPs’ camp which accommodates over 3,000 returning Borno indigenes from Cameroon Republic, in company of the Director-General of the National Emergency Management Agency, NEMA, Alhaji Sani Sidi

to Mubi, said he also heard of the speculated pleas in the media by Boko Haram for negotiations with federal government. His words: “I heard and read from the media of the said pleas for negotiations by the insurgents, but sincerely speaking I do not know its source, no authenticity of the speculation. ‘’The insurgents are tired and they want true and sincere negotiations, it is left to the

Federal Government to accept or reject their advances, depending on the genuineness of their approach to this incessant insane, massive killings and bombings in Nigeria, including schools, markets and hospitals.” Mustapha, while addressing the returnees in Mubi South, said that 3,488 had so far returned to Nigeria via Mubi, a border town to Cameroon. He said they had been

refugees in Cameroon after the the Boko Haram attacks at Gambouru and Ngala communities of Borno State. He said the state government would identify with the plight of the returnees, adding that the returning refugees would be evacuated from Adamawa after they must have been thoroughly screened by Immigration and Military personnel at the Sahuda entry border post.

Kogi East PDP endorses Wada for 2nd term

By Kingsley Fanwo

OKOJA—THE second term bid of the governor of Kogi State, Captain Idris Wada has received a big boost as the Working Committee of his party in Kogi East endorsed his candidature. Kogi East is made up of nine Local Government Areas of Ofu, Idah, Igalamela/Odolu, Ankpa, Dekina, Olamaboro, Bassa, Ibaji and Omala. The chairman of the forum, Mr Idris Waja, who briefed newsmen on the endorsement, said that the

decision to adopt Wada was to avoid unnecessary bickering which he said were the greatest undoing of the party during the last general elections. The chairman who listed some of the governor’s achievements in the past three and half years, said that the only way the party can win the November 21 governorship election is by supporting Wada's second term bid. Mr Waja called for a consensus arrangement which he said would save the party a lot of money and make the party more

formidable to contest the election. The chairman who was flanked by other members of the forum, urged his colleagues in Kogi West and Central Senatorial Districts to similarly adopt the Governor in the interest of the party, and development of the state. Governor Wada while responding to the endorsement, thanked them for their love and support and appealed to them to avoid unfounded rumour which he said was capable of derailing the party.

Police grossly understaffed, says DIG Katso

By Peter Duru

AKURI—THE Deputy Inspector General of Police, DIG, in charge of Research and Planning, Mr. Kakwe Katso, has disclosed that the Nigerian Police Force was grossly understaffed and lacking in manpower, noting that the personnel strength was far below the 350,000 usually bandied about. Katso, who made this known in an interactive session with officers of Benue State command and members of the Police Community Relations Committee, PCRC, in Makurdi weekend, said the Inspector General of Police, IGP, Mr. Solomon Arase, was taking steps to address the situation. The DIG, who also doubles as the Coordinating and Supervising Officer for the North Central geopolitical zone, said before now, the police used to talk of manpower shortfall without proper statistics. Hesaid: “Atatime,itwasassumed that we were 350,000 but recent findings from our payroll statistics showed that our number was far below that."

VANGUARD, MONDAY, AUGUST 10, 2015—47

•Asiodu

How corruption hit civil service – Asiodu THE appointment with Chief Philip Asiodu was fixed for 12 noon but finding the residence of the octogenarian retired civil servant and elder-statesman was another thing that Wednesday. The reporter who made the contact had forgotten to note the address when the appointment was made, so when another call was made to request the specific address, the fear of the reporter was realised when the chief gently rebuked him for being careless. Chief Asiodu is undeniably a careful man, a fact that progressively unfolded as the interaction got underway following an hour long wait for him to end another meeting with an expatriate Caucasian. The meticulousness of Asiodu was very visible from the neat arrangement of the anteroom where the three Vanguard reporters were received. It was also seen in the durable materials used in furnishing his apartment built more than thirty years ago. The chief’s love for the arts and made-in Nigeria products was also visible. A number of art works adorned the anteroom and the lounge room where the interview was By Emmanuel Aziken, Political Editor, Clifford Ndujihe & Charles Kumolu

T 80 you look relatively fresh. You could pass off as a 60-year old man. What is the secret? It is important to add a little moderation in all you do. There should also be regular exercises. The

moderation should also include your eating and drinking habits. More importantly,one should try to bother less about things of life. Things are not always a bed of roses but some people take bad things badly. People are bound to disappoint you. Some bear it but others don’t. It is unfortunate that many Nigerians age prematurely as a result of meaningless stress. In

•Why North rejected secession in 1966

conducted. Speaking about the house, Asiodu, who urged Nigerians, especially the elite, to patronise made-in-Nigeria goods, said the furniture (which are still very strong) were all sourced locally. Asiodu was to note that imported furniture, which many elite are crazy for, don’t last as the ones made by experienced local producers. In the interview proper, Asiodu assessed the Nigerian civil service, pointed out where the country missed the mark and how to retrace our steps. He spoke on the state of the nation and why President Muhammadu Buhari cannot limit his anticorruption war to the former President Goodluck administration. Asiodu was Chief Economic Adviser at the commencement of the Olusegun Obasanjo civilian administration in 1999, Peoples Democratic Party, PDP presidential aspirant ahead of the 1999 election, Special Adviser to President Shehu Shagari on Economic Affairs, and well before then, one of the country’s foremost civil servants who retired as a Permanent Secretary in 1975. those days life was better and that accounted for the low statistics of death rate then. Those who died then, died probably at infancy. Beyond that, people lived as long as they want. So, moderation is my secret. For instance, the Itsekiri have an adage which advices people to chop life little by little. What is your impression of the civil service of today? I joined the civil service towards

the end of the colonial era. And I became a permanent secretary under Zik and Balewa. I stayed on in the first two military regimes of Ironsi and Gowon. And then came the destruction of that civil service in 1975 when Gowon was removed. I was retired and I was the number one civilian among those retired with immediate effect! Later on, the military added an amazing phrase to our sack saying

It is unfortunate that many Nigerians age prematurely as a result of meaningless stress. In those days life was better and that accounted for the low statistics of death rate then that it was done with increasing alacrity! It shows how people were not really thinking through what they were doing at that time. Since leaving civil service I had the opportunity of coming back to the public service three times but not as a civil servant. So I have had the opportunity of seeing the civil service under the colonial and post independence era. There is no doubt that it is a completely different situation because the civil service that I joined had clear rules to be satisfied and defined conditions of entry. There were well arranged courses that you had to undertake before confirmation. And after that, there were local and international programmes to be undertaken. We had clear demarcation of classes. There was the administrative class, which was supposed to be

Continues on page 48

48—VANGUARD, MONDAY, AUGUST 10, 2015

Continues from page 47 advising on policies. It was a class from which we had the permanent secretaries, who ran the civil service. We were able to make sure that the professionals did what they had to do. They were the ones who coordinated and formulated policy options in accordance with the objectives of the government of the day. Such recommendations were sent to the council as memoranda so that decisions would be taken. There was collective responsibility in the civil service at that time. The success of the ministry of education was also the success of the ministry of finance. And the permanent secretaries helped to make that possible through broad consultation. Before something would be finally presented to the cabinet for approval, whoever needed to be consulted would have been consulted. When you submit a council memorandum in those days, you do it with a file and the secretary to thepremierwilltakeittothepremier and they will make sure that it was worth it. For instance, if you want to build a secondary school in an area, it may require land and money. And so you will make sure that before finalizing the proposal that all those who will be involved are consulted. This made for easy discussions in cabinet. It also made for seamless implementation because once it was decided, and you are now going to move into an area, the ministry of works will not deny knowing about it. That was the procedure. Those days, the things we hear now, about ministries being lucrative, didn’t exist. When you are posted to anywhere, it is your duty to do your best.

Discussions in the cabinet The advice I will give to my minister as permanent secretary in the ministry of industries, will be coherent with the advice I will give to the minister of education. So, discussions in the cabinet were structured. And that was made possible by the competent civil service we had. Then came the debacle of 1975 when 10,000 people were asked to retire or dismissed within two months. Even newly created states that were just putting together their civil service were asked to bring people to be retired. That act was quite unjust because there are procedures in the civil service for discipline. If anyone does anything wrong the person will be queried and if it was something urgent, the person is given 24 hours to state his case. It was so bad that people will be at work while their wives will hear in the news that they had been retired. Many good people, who were working very hard and even recommended for promotion found themselves in that situation. There was so much impunity and recklessness then because those

Asiodu...founding fathers wanted a non partisan public service people were working honestly and looking forward to retirement. It was so bad that people whose children were schooling in Corona SchoolandlivedintheGovernment Quarters had to relocate to places like Ojota. Families were damaged andsomeevendied.Thatwaswhen we started hearing that people should make hay while the sun shines which is a euphemism for corruption. Our founding fathers in 1954 before independence signed a document affirming that we should have an independent, professional and non partisan public service which would be run by professionals. We also had independent Public Service Commission which was damaged. LateronwhenlateMonsignorPedro Martin was asked to look into the cases of the dismissals, his report said that 90 percent of those dismissed did not deserve dismissals.

Institutional memory When the service was truncated and dislocated, we were left without role models to ensure that the service worked. These people are supposed to ensure that there is institutional memory and other functions the civil service was supposed to have provided professionally. Before some of us were retired, we were on correspondence with British ministers. It didn’t do us good because we lost institutional memory. To compound it, based on some ill advice, there was a decree under

Babangida in 1988 whereby they now said that ministers can now hire and fire. They went on with some aberration that you can only get the leadership of a ministry from only those who were employed by such ministry. At a time when Europeans will gotoAmerica,whileAmericanswill go to Europe looking for competent people to run their public service, we were limiting ourselves. They also destroyed the administrative class concept. These were people who were trained to listen to experts and listen to the basis of policies

and then marshal them. Udoji in his reforms said that you don’t limit the class from which you will get permanent secretaries to the administrative class. Whether you are a professional or not, by the time you will get to the managerial class, you will now go for an administrative training like anyone else. And it is from that group that a permanent secretary will be selected. Udoji, who was head of service in the east tried to make sure that whatever route anyone took to become permanent secretary, the person will be a good administrator. This practice was damaged in 1975 and compounded in 1988.

On federal character principle

Many good people, who were working very hard and even recommended for promotion found themselves in that situation. There was so much impunity and recklessness then because those people were working honestly and looking forward to retirement

Now they invented the idea of federal character and quota system. Atatimewhenpeoplewerelooking for geniuses they were saying that we should not focus on high fliers. When we entered we had role models. We used to look for high fliers. In our days we used to send people to schools to get their best graduates even before they graduated. We made the civil service the preferred destination. But we went into quota and misapplied the quota system. What we then had was not the civil service that we knew which was usually the destination for high fliers. Then, you needed to have an honours degree before you enter the administrative cadre of the scivil service. You also needed to have proper career planning. We have lost the benefit of that and this was what came out in the dispute

between Oronsaye and the public service commission. It was a situation where directors were brought in through the state civil service. It was then that they brought tenure system that people can go after eight years if they cannot rise to the next position. Rather than saying that each state must have one or two permanent secretaries, merit should have been the basis for growth in the service. There are other things in life rather than being in the civil service. A state may have people who are interested in other pursuits. So with the great shock of 1975, stars were driven out of the service. They made sure that the civil service was no longer the choice destination. My father was a civil servant, which was attractive then. If someone did not die early in service, that person was sure of being comfortable. It was not the route to becoming the richest man in the country. So, did you allow your children to follow you in the service? With the experience we received it will be difficult to have any of our children in the service, especially when our experience was occasioned by ill feelings. Some of us survived it but others did not. What happened to us was not an inspiration to our children. When we were growing up, promotion was strictly according to the organizational chart. If there was no space for the position of permanent secretary, nobody will be made a permanent secretary. After the disruption of 1975, they just started promoting people without respect to the

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Continues from page 48 organogram of the service. So we ended up having a public service without traditions. The fact that the service is no longer secure and objective did not do good to the public service. To show the decay, there was a time an examination was introduced for people who were to be made permanent secretaries and a number of them could not even write minutes. When you look at what we have in the civil service today, it is a far cry from what we had. Up to 1975, salaries of public servants were quite comparable with our British counterparts. Indian consultants who came here then earned more in Nigeria than in India. In terms of training, courage, entry qualification and career planning, we have gone backward and we must restore it. How can we restore it? It is until the leadership of the political class realize that you need a proper civil service for you to deliver. The civil service is the first manifestation of government to the people. Someone will need a permit for investment, instead of getting it, the person will be delayed for unjust reasons.

Permit for investment For instance, when I was in the Transitional Council in 1993, they had advertised for people to express interest in deep water offshore/new technology. People had been short listed for two years without response. When I came I did it under three months. There was no need wasting such time. What was needed was simulation which was not done before I came. The idea of come today, come tomorrow does not help because the world does not owe us a living. In the last 20 years especially in the oil sector, the amount of investments that have moved elsewhere as a result of indecision is so much. Now, they are talking about Petroleum Industry Bill, PIB, when oil policies need adjustments on a quarterly basis. When the law is eventually passed, it may take them six years to start implementing it. Are you saying that the PIB is not necessary? The PIB is not necessary. PIB in their thinking which is to put all laws governing the oil industry into one is not necessary. A non performing civil service can frustrate the best intentions of government. If people realize that they are going into politics for public interest and not for self aggrandisement as we have witnessed, thing will begin to change. We can restore the civil service to become efficient but it will take the best part of two administrations. You can start the process by naming the minimum qualifications for certain positions. President Buhari recently asked that audit queries piling up for years should be replied within 30 days. How was it in your time? I was very shocked to read that

Asiodu...our economy was growing at 11.75 per cent yearly audit queries were outstanding. First, we had internal audit which may raise questions. Beyond that, the external auditors can come to raise issues maybe on the money that was not applied. In our days, no money was spent which was not budgeted for. And if you had to spend money outside the budget, you have to come to the council and ask for variation. The person can come to the council to state that there was need to channel money to a different cause. That will be approved. And the accountant in charge of an organization did not

After the 1975 coup, the metallurgical complex we started in Ajaokuta was not completed. Then they went to Delta which was not in the plan

allow money to be used except the one budgeted for or approved by the council. If the auditor now finds it funny, he raises a query which should be answered immediately. If it is kept under, it means that the person has skeleton in his cupboard. And this has been the reason for the misapplication of money and bloated budget. I want to make it clear that the Federal Government budget never exceeded ÂŁ40 million pounds a year.Withthat,theybuilt4,000miles of railway.

Farm settlements They built the habours in Lagos, Sapele, Warri, Calabar and PortHacourt. They provided airports in Lagos and Kano. They built the schools which the people before me and those of my generation went to. It was from the schools that we went to Oxford. In the First Republic, it was after some time under Balewa and Okotie Eboh as Minister of Finance that revenue reached 50 million pounds. In that era, we built farm settlements, industrial centres, new secretariats and more importantly, scholarships were awarded. When Gowon came in, it was in his second year that our revenue reached 100 million pounds and by then the civil war was ongoing. The war was fought without

borrowing. We also started the rehabilitation, reconciliation and reconstruction programme without borrowing. Our economy was growing at 11.75 percent yearly. That was from 1970 to 1975. We would have escaped poverty if we had continued in that manner successively. We were the African lion as compared to the Asian Tigers. I am not saying this because Gowon was removed, because the two leading members in the coup that removed Gowon, who were Obasanjo and Murtala were part of the Gowon administration. The 1975-80nationaldevelopmentplan started by saying that oil was not meant to last. It emphasised agriculture and agro-allied industries.Wealsofactoredinpetrochemicals. That basis for a proper industrial sector was abandoned. It was not only abandoned, the discipline of identifying priorities was abandoned. After the 1975 coup, the metallurgical complex we started in Ajaokuta was not completed. Then they went to Delta which was not in the plan. Even at that, they were going to base it on imported beneficiated ore. But without digging Escravos which was started in 60s and abandoned, only 10, 000 tonners could come in. But ores are carried in big 50, 000 tonners. TheyabandonedtheItakpeplant. We started the plan of assembling

motor vehicles. We had worked out the deletion rates to show that at 150,000 cars a year, we will be casting the engine blocks in Nigeria. But that was abandoned when we left. Our plan was done in such a way that we would not have been importing cars by now. First, they came up with differentials by basing Peugeot in Kaduna. Then under the Shagari government they invited seven more people to be involved in vehicle assembling. And that killed the deletion process which we had begun. You know we had started producing radiators, but that required a certain volume. But all were allowed to collapse. Later on, they said that everybody can import.

Automobile policy Even the new automobile policy which allows all sorts of people to assemble vehicles will not work. Even before we started our plans then, we had to put everything into consideration. We looked at three Latin American countries, Brazil, Peru and Mexico and learned from their experience. Brazil concentrated on Volkswagen and they started exporting after some time. We took the model, and if it had been followed, we would have been exporting today. We started assembling before South Korea, Continues tommorrow

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Pope recalls ‘horrific’ WWII atomic bombings P OPE Francis said yesterday that the Hiroshima and Nagasaki bombings still evoked “horror and revulsion” 70 years on and called for a ban on nuclear arms and weapons of mass destruction. An American plane dropped a bomb on Hiroshima on August 6, 1945, in one of the closing chapters of World War II, turning the bustling city into an inferno and killing an estimated 140,000 people. Three days later, another atomic bomb was dropped on the city of Nagasaki, killing more than 70,000 people. In his traditional Angelus prayer at Saint Peter ’s Square, the pontiff said Hiroshima had come to represent “the symbol of man’s disproportionate power to destroy through the erroneous use of scientific progress and techniques.”

•Pope He recalled it as a “tragic event which even today evokes horror and revulsion.” The pope urged humanity “to forever renounce war and ban nuclear arms and weapons of mass destruction. People

everywhere should rise up and say in a single voice: no to war and violence, yes to dialogue and peace.” Japan surrendered on August 15, 1945, though opinion remains divided on whether the unprecedented use of the weapons was justified.

Trump declares ‘I love women’, resumes battle with rivals

•Trump

ONALD Trump yesterday professed his love for women and said he would be their best advocate if elected president, dismissing the firestorm of his own making that has consumed the Republican presidential campaign. Even as he asserted that one of his main challengers is the one in trouble with female voters, the only woman in the GOP contest said she believes women are “horrified” by Trump’s comments and that the billionaire businessman may be unprepared for the

pressure that comes with being president. “I apologize when I’m wrong, but I haven’t been wrong. I said nothing wrong,” said Trump, who called in to four Sunday news shows, skipping only Fox News, the network with which he is feuding. “I’m leading by double digits, so maybe I shouldn’t change,” he boasted to NBC’s “Meet the Press.” Trump’s unconventional, insurgent campaign has excited many antiestablishment conservatives while confounding

Ferguson marks anniversary of Michael Brown’s death

NE year after the shooting that cast greater scrutiny on how police interact with black communities, the death of 18-year-old Michael Brown in Ferguson, Missouri, will be marked with a somber march and a moment of silence. The march late Sunday morning begins at the site where Brown, who was

Obama sees chance for improved relations between US, Iran

RESIDENT Barack Obama says a constructive relationship with Iran could be a byproduct of the deal to limit its nuclear program, but it won’t happen immediately. If at all. Obama told CNN in an interview airing Sunday that Iran’s “nuclear problem” must be dealt with first. He said the agreement reached last month by the U.S. and five

party leaders already facing the prospects of a bruising fight among 17 candidates. The latest controversy started Thursday night when Fox News debate moderator Megyn Kelly recounted Trump’s history of incendiary comments toward women. Republican presidential frontrunner Donald Trump on Sunday refused to apologize for a crude attack on a female Fox News journalist that sparked widespread outrage, insisting he was misunderstood.

otherworldpowerstoremove cripplingeconomicsanctions on Iran in exchange for restrictions on its nuclear program achieves that goal “better than any alternative.” Republican lawmakers largely disagree with the president’s assessment that the deal blocks Iran’s path to a nuclear weapon, as do some of Obama’s own Democrats.

black and unarmed, was fatally shot by Ferguson officer Darren Wilson on Aug. 9, 2014. A grand jury and the U.S. Department of Justice declined to prosecute Wilson, who resigned in November, but the shooting touched off a national “Black Lives Matter” movement. Afterthemomentofsilence, aservicecommemoratingthe anniversary is planned at a Ferguson church. The events are among several this weekend in Ferguson and nearby St. Louis. Brown’s father, Michael Brown Sr., led a parade involving several hundred people on Saturday. Brown said his family is still grieving, but he believes his son’s legacy can be seen in the increased awareness of police shootings, and renewed skepticism when officers describe their side of events leading up to those shootings.

Fears of ISIS links in Mail as insurgency spreads

EARS of ISIS involvement in Mali grew at the weekend following the first attack by Islamic extremists in a central Mali town, in which 10 people died. The attack shows that jihadist aggressions are spreading in the country and hitting more directly at the government military and the U.N. peacekeeping force. Three of the attackers also were killed, and seven suspected militants were detained, the government said. Four U.N. employees were rescued. Additional U.N. personnel may still be missing, said a U.N. official who spoke on condition of anonymity because of lack of authorization to speak to the press. The militants first targeted the army camp in Sevare on Friday but when they faced resistance they moved to the nearby Hotel

•A militant on the run. Debo before assaulting the Hotel Byblos, popular with U.N. staff, to take hostages, said a Mali government report, according to the U.N. official. Sevare, a garrison town about 600 kilometers (375

miles) northeast of the capital, Bamako, is at the heart of Mali’s tourism industry and up until now had not been targeted in the attacks more common in the northern towns of Gao and Timbuktu. “It’s a troubling sign that the armed Islamist groups are intent on stepping up the pressure both on the Malian government and on the U.N. and French presence,” said Bruce Whitehouse, Mali expert and associate professor at Lehigh University. “They want to show they are not just contained within the north and that they’re not afraid to confront their primary enemies where they’re strongest.” Whitehouse said the attack was likely intended “to signal all Malians everywhere that neither their government nor the U.N. can keep them safe,” but he noted the rapid response by Mali’s forces.

Ebola: China to build highway for Liberia

HINA will build a new coastal highway for Liberia as part of its aid to the country recovering from an Ebola epidemic, Liberia’s foreign minister said yesterday. He was speaking at a news conference with China’s Foreign Minister Wang Yi who is visiting Liberia, Guinea and Sierra Leone, the countries hardest hit by the epidemic. Liberia’s existing coastal route is vital for commerce as the country rebuilds after a civil war that ended in 2003. It connects the capital to the border with Ivory Coast via the port city of Buchanan, where exports of exports of iron and timber pass through, but much of the road is unpaved. “China has agreed to help Liberia with the construction of a ministerial complex which will host about 10

ministries. Also, China will construct a coastal highway,” Liberia’s Augustine Kpehe Ngafuan said. China would use its global fund for Africa to finance the project and seek partners, he said. The construction of the ministries had already been announced. Wang did not directly refer to the highway but said

Ebola survivors face severe pain, possible blindness

HOUSANDS of West Africans who were infected with the Ebola virus but survived it are suffering chronic conditions such as serious joint pain and eye inflammation that can lead to blindness, global health experts said on Friday. Ebola survivors who fought off the most severe bouts of infection are the most likely to suffer ongoing medical problems, World

Angolan police clash with protesters

NGOLAN police clashed with more than 50 anti-government protesters in the capital Luanda at the weekend and detained several of them, including activist Rafael Marques de Morais. The protesters were demanding the release of 15 activists accused of planning to disrupt public order and security and were chanting “Liberation now! We want our 15! We want our 15!”. Marques de Morais says in his 2012 book “Blood Diamonds: Corruption and Torture in Angola” that

Ngafuan had explained the specific components of China’s aid. “China is open to cooperation in all areas and we know that Liberia is attracting investments from all countries around the world. We know about the historic ties between Liberia and USA but China has its own strength,” Wang said.

Angolan generals were responsible for more than 100 cases of killings and torture of civilians and workers at diamond mines that they own. The generals deny those allegations and brought defamation charges against Marques de Morais in Portugal, where the book was published, but the case was dismissed for lack of evidence. Armed police used batons to disperse the crowd on Saturday and kept Marques de Morais inside a police car for about 45 minutes. Other protesters were still in detention, he said.

Health Organization experts said, and their health is becoming “an emergency within an emergency”. “The world has never seen such a large number of survivors from an Ebola outbreak,” said Anders Nordstrom, a WHO representative in Sierra Leone who took part in a five-day conference this week about Ebola survivors. “We have 13,000 survivors in the three countries (Guinea, Liberia and Sierra Leone). This is new - both from a medical and from a societal point of view,” he told reporters on a telebriefing.

•Morsi

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NFF board members back Kalu’s FIFA ambition T

HE FIFA presidency dream of former Abia State Governor, Dr Orji Uzor Kalu got a boost at the weekend with two executive members of the Nigeria Football Federation (NFF) endorsing his candidature. Alhaji Yusuf Fresh and Alhaji Ahmed Mu’azu Kawu, who is also the chairman of the Nigeria Nationwide League (NNWL) in a separate chat supported the ambition of Dr Kalu but urged him to make a formal request for endorsement to the NFF. According to Fresh, a member of the NFF technical committee, Dr Kalu has every right to aspire to the topmost position in world football with his achievement with Enyimba International of Aba while he held sway as the Abia State governor. “I am enthusiastic and happy that Nigerians are starting to

show interest in the top football position in the world. His Excellency, Dr Orji Kalu has the right to contest for the FIFA job but he must get the endorsement of the Nigeria Football Federation (NFF). “He cannot aspire to contest without the backing of the NFF and if he seek our support, we shall surely give him,” Alhaji Fresh said, adding “He has countless of achievements to show from his performance as two-time Governor of Abia State. He made Enyimba what they are today because it was through his effort that Nigeria broke the CAF Champions League jinx. He won the competition twice as well as the CAF Super Cup.” For the NNWL chairman, Alhaji Kawu, the aspiration of Dr Kalu is not abnormal but advised he go through the proper channel to actualize the dream.

Bet9ja unites Chelsea, Man U, Arsenal, Barca fans

N what promises to be a unique thrilling experience for football fans, top betting company Bet9ja has concluded plans to organize a get together for fans of top European clubs like Chelsea, Manchester United, Arsenal, Barcelona, Real Madrid, Liverpool, Ac Milan among others. Speaking from London the CEO of Bet9ja Ayo Ojuroye disclosed that “We are partnering with SSS7 Lounge

at Victoria Lagos to bring together our customers who are fans of top clubs in Europe. These fans are expected to grace the event in their clubs jerseys to share food and. drinks, discuss the prospects of their teams in the new season and be entertained by top Nigerian musicians. “ He affirmed that the fans are expected to wear their various club jerseys to create a festive atmosphere.

West Ham

display from the experienced keeper. The 33-year-old was not only at fault for West Ham’s opener, but was wrong-footed by Zarate’s strike, although he received little help from his defence as Alex Oxlade-Chamberlain and Francis Coquelin combined to give the ball away on the edge of their own area. Olivier Giroud frequently looked isolated up front, which will no doubt increase the hope among Arsenal supporters that a reported deal for Real Madrid forward Karim Benzema can be completed.

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final third, came closest when Aaron Ramsey hit the crossbar in the first half. Gunners fans, who left the Emirates Stadium in large numbers before the final whistle, will feel like they have seen all this before, not just in the way their side performed, but also in the familiarity of their starting line-up. Cech’s arrival from Chelsea has been Wenger’s only summer signing since last term’s third-place finish, and it was an uncharacteristic

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Comfort shines in Warri as Utitofon lauds mobil F

Dr Orji Uzor Kalu

Manu Garba tips Eaglets for glory

IGERIA’s 2013 FIFA U-17 World Cup-winning coach, Manu Garba, has again rallied behind the Golden Eaglets’ quest for a successful defence of their title at the forthcoming global cadet championship in Chile. Nigeria holds the enviable record of four titles in this category with victories in 1985, 1993, 2007 and 2013, and Garba, who was instrumental to the last two successful campaigns, believe the class of 2015 can go all the way yet again. Reacting to the Chile 2015 World Cup draw that pitched Nigeria against host Chile, Croatia and USA, Garba reckoned the Golden Eaglets under his former assistant, Emmanuel Amuneke would have to gird their loins. “It’s not an easy group,”noted Garba. “Chile is the host and South American teams are always good.” He continued: “ Croatia is part of former Yugoslavia along with Serbia

that just won the U-20 FIFA World Cup in New zealand which shows their football culture is good and USA plays with aggression. But they all are up against Nigeria, four-time World Cup winner and the No. 1 ranked team at that level. “I’m very optimistic that with good preparations and motivation,we can qualify from this tough group and go all the way to excel and I wish my dear country good luck in Chile,” added Garba.

*Manu Garba

AMOUS Nigerian sprints star Utitofon Nkantah, nee Ukoh MFR, has come out in praise of the grass roots athletics development programme that has been sustained by Mobil Producing Nigeria( MPN) in the past 15 years in Akwa Ibom State. Deaconess Nkantah was reacting to the news that Comfort Anietie James, a product of the AKS/NNPC/MPN Schools Athletics Championships got a silver in the 1,500 metres event of the just concluded All Nigeria Athletics Championships in Warri. “For her to compete with seniors and emerge the second best in the land is a great testimony to the foundation that was laid by MPN, Operators of the NNPC/MPN Joint Venture”, she said. At the Warri trials Comfort ran 4mins 36 seconds to pick a silver and was heralded for her feat as a great potential in a distance that Nigeria is yet to control on the African Continent. An ex student of Government Secondary School Ikot Nya in Nsit Ibom Local Government Area, the 17 year old was the Mobil Championship champion for two years in 2013 and 2014. And was one of the beneficiaries of the 2013 Calabar camping and training experience. The state Director of sports Coach Aniedi Dickson said though the state has a lot of junior National Champions thanks to Mobil, we decided to take five of them

Eyimba back to the top S

IX-time champions Enyimba have returned to the summit of the Nigeria league table after they beat Lobi Stars 2-1 in a Week 22 game played yesterday. Enyimba now have 41 points from 22 matches, a point ahead of Sunshine Stars, whose game against Ifeanyi Ubah was postponed till Monday due to heavy rain. Ifeanyi George broke the deadlock in the 31st

minute to give Enyimba a 1-0 lead. Nine minutes later, Ifeanyi Anaemena doubled Enyimba’s lead when he headed home Peter Onyekachi’s flick from Kamal Sikiru. In the 90th minute, Tony Okpotu pulled a goal back for Lobi Stars from the penalty spot after goalkeeper Femi Thomas was penalised for bringing down Obinna Arinze.

In the 10th minute, Daniel Etor had the chance to score for Enyimba, but his header off Markson Ojobo pass was off target. Five minutes later, Onyekachi failed to score from 10 yards out. Kingsley Sokari made a return to Enyimba when he entered for Razak Aliyu in the 65th minute after his move to Esperance of Tunisia collapsed.

to Warri to expose them, ( Comfort James, Akwaowo Etim 100 metres, Ubon Sunday, 400metres, Esther Ekanem 100 metres and Ndipmo Edet 100metres). And it yielded positive results. Deaconess Nkantah, President of Athletics Technical Officials in Akwa Ibom, who was also in Calabar in 2013 when MPN initiated the first ever Holiday Camping and training programme said she was “very happy with the initiative, because it is one thing to discover stars, and another to groom them to enhance their potentials. First it was Aniekeme Alphonsus, now Comfort. We are really reaping from Mobil’s trade mark Corporate Social Responsibility strides” On the forth coming programme scheduled for the Godswill International Stadium Uyo from August 17, Deaconess Nkantah expressed a lot of delight at the quality of coaches lined up to help mentor the youths. “ when you have the likes of Professor Ogunjimi, Gabriel Okon, Solomon Abari, Amellia Edet, Ken Onuaguluchi and Nuhu in one camp, then the kids can only expect the best.

Tanzania Continues on Back Page

The players who joined the camp on Sunday are in for a weeklong training session. Of the 29 players, five of them are professionals trading their skills overseas who will later join a Turkey-based camp ahead of African nations Cup crunch qualifier game against the Super Eagles early next month. The foreign based players who will join their colleagues on August 23 for Istanbulbound flight for tendays training include TP Mazembe striking duo of Mbwana Samata and Thomas Ulimwengu, Mrisho Ngasa (Free State Stars), Hassan Sembi (Santos FC) and Adi Yussuf (Mansfield Town).

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Wenger refuses to blame M Cech after shock loss A

*Coutinho

Pel-

legrini might have signed a new contract on Friday, but he knows he could be out of job in the summer if Man City fail to win the Premier League. Pellegrini signed a one-year extension to tie him to The Etihad until 2017, but he knows more than most he is unlikely to see out that deal if City have another season like the last. “In a big team you cannot go two years without winning the title,” said Pellegrini, whose City side finished eight points behind champions Chelsea in 2014/15. “It’s very important to win it. It’s also important to demonstrate to the media and to the fans that sometimes you can keep working without winning. “When you don’t win

RSENE Wenger

refused to lay the blame for a surprise 2-0 Premier League defeat to London rivals West Ham solely with Petr Cech. Big things are expected from Cech after he left Chelsea to join Arsenal just over a month ago, but the Czech Republic goalkeeper had a Premier League debut to forget for his new club on Sunday at the Emirates Stadium. Wenger was left to rue conceding two goals that were very much avoidable, but refused to single out Cech for criticism. “I haven’t spoken to him [Cech] yet, but I can’t see many convincing individual performances. It is difficult to single one out,” said the Frenchman. “It’s not only him, if you look at the back line we have plenty of experience at the back. I think the youngest is 30. “We were punished for our defending. We gave two very cheap goals away and gave ourselves a mountain to climb. “The way we conceded a goal just before half-time with the experience we have in our team is difficult to understand.” Wenger felt West Ham’s participation in the UEFA Europa League - a tournament they were knocked out of on Thursday - worked in their favour and urged his side to show a positive response to a poor start to their Premier League campaign. “West Ham are a bit more advanced in their preparation. They ’ve played more competitive games than us and we knew that,” Wenger added. “We were a bit nervous and we didn’t respect the basics. There were no individually convincing performances.

ANUEL

*Czech

Pellegrini knows City axe loooms a title, you must change some things. It is important when you don’t win a title that you trust the work you are doing. “But it is true that it is very difficult for a big team to be two years without winning a title.” The 61-year-old, who has been plagued by talk of Pep Guardiola taking over the City reins, has penned an extension to the three-year contract he signed when he arrived in June 2013.

Cisse scores as Newcastle earn one point

OUTHAMPTON earned a point at Newcastle thanks to substitute Shane Long’s late

Oxford revels in ´dream´ West Ham debut

Oxford (L), the teenager that silenced Ozil.

Coutinho stunner wins it for Reds at Stoke

HILIPPE Coutinho’s stunning longrange strike gave Liverpool a late victory over Stoke on the opening weekend. The match was a lacklustre Premier League encounter until the Brazilian’s magic four minutes from the end. Former Liverpool man Glen Johnson could have put his new side in front in the first half, but skewed his shot over the bar from 12 yards out. Charlie Adam’s longrange free-kick almost

sneaked in at the back post but was pushed away by Simon Mignolet. These two sides met on the final day of last season, when Stoke’s 61 win was Liverpool’s heaviest defeat since 1963. It meant Mark Hughes’ side ended the campaign with 54 points, their highest total in the top flight. Despite last season’s embarrassing result, Liverpool’s owners backed Brendan Rodgers and kept him as manager, so have things

improved? Although victorious this time round, Liverpool have work to do on how to bed together their attacking players. Christian Benteke touched the ball just five times in the penalty area, and will need to improve as he faces competition from substitute Roberto Firmino - who had a run out in the last 15 minutes - and Danny Ings. Daniel Sturridge will add to the fight for places when he returns from injury next month.

Pellegrini

EECE Oxford re

flected on a “dream debut” after the 16-year-old shone in West Ham’s surprise 20 Premier League derby victory at Arsenal. The midfielder became the second-youngest player to start a Premier League match on Sunday and made the most of his opportunity, as Petr Cech endured a top-flight debut to forget for Arsenal. West Ham had not beaten their London rivals in 15 attempts stretching back to 2007 before this surprise triumph in their Premier League opener, which was Slaven Bilic’s first league game at the helm. Oxford, now the youngest player to feature for West Ham in the Premier League, relished the chance given to him by Bilic and hopes his impressive display is the sign of things to come. He told Sky Sports: “It was a dream debut, also

*Cisse

goal. Graziano Pelle met Cedric Soares’ long ball to head Saints into an early lead, before Papiss Cisse equalised by chesting in a deflected cross. New £14.5m signing Georginio Wijnaldum then scored a powerful header on his Premier League debut to give Newcastle the lead early in the second-half. But Long struck 10 minutes from time, heading in a Dusan Tadic cross. Relieve the entertaining draw here. Southampton manager Ronald Koeman watched the match from home as he recovered from an operation on his Achilles tendon, but brother and assistant manager Erwin gave a first Premier League start in 491 days to striker Jay Rodriguez. The Saints also handed starts to right-back Soares and goalkeeper Martin Stekelenburg, while Steve McClaren, who was managing a Premier League side for the first time in nine years, gave a first Premier League start to centre-back Chancel Mbemba. England striker Rodriguez was making his first Premier League start in 16 months.

Vanguard, MONDAY, AUGUST 10, 2015

Tanzania line up Libya, Kuwait for the Turkish commercial Eagles capital of Istanbul, will

ANZANIA nation al team, Taifa Stars who are expected to camp for two weeks in

Black Stars, Hawks reject Eagles *Team now to play Niger

IGERIA will now play next-door neigbours Niger in a friendly on September 9 in Port Harcourt after proposals to take on Ghana or Togo did not come through. A top NFF official informed: “The match against Niger is now confirmed for Port Harcourt after the AFCON qualifier in Tanzania. The other proposals to play other neigbouring countries like Ghana and Togo did not fly.” However, it is left to be seen the team who will prosecute this match – whether the homebased Eagles to prepare them for a CHAN qualifier against Burkina Faso in October or the main Eagles squad. Port Harcourt was also the proud host city for a crucial CAF U23 Championship qualifier against Congo recently.

play two international build up matches against Libya and Kuwait before flying back to face the Super Eagles. Tanzania national soccer team’s interim coach, Charles Boniface Mkwasa last week called 29 players to join a training camp in Dar es Salaam. Continues on Page 54

*Mkwasa

West Ham shock Asenal at Emirates

RSENAL’s season started in defeat as West Ham won their first Premier League game under Slaven Bilic. Keeper Petr Cech misjudged Dimitri Payet’s free-kick to allow Cheikhou Kouyate to nod in the Hammers’ first. And after the break Mauro Zarate finished from 20 yards after being gifted the ball by the Gunners defence. Arsenal, who controlled possession but were worryingly blunt in the Continues on Page 54

NIGHTMARE: Kouyate rises high to beat summer signing Petr Cech to the ball and head the visitors into a 1-0 lead in the first half. West Ham beat Arsenal 2-0 at the Emirates

Eyimba back to the top P.54

*Wenger

RESULTS NPFL Bayelsa 1 Kano 1 Dolphins1 A/Warriors 1 ElKanemi 2 Kwara 0 Enyimba 2 Lobi 1 Giwa 1 Warri Wolves 1 Taraba1Akwa 0 Wikki 0 Nasarawa 0

EPL

Arsenal 0 West-Ham 2 Newcastle 2 Sampton 2 Stoke City 0 Liverpool1

Today’s Fixture (EPL) West Brom v Man City 8pm

QUICK CROSSWORD

TODAY'S

PUZZLE

FRI DAY'S FRIDAY'S

ANSWERS

ACROSS 1 Bucket (4) 4 Enquire (3) 6 Too (4) 9 Pinch (3) 10 Scornful (8) 11 Equipment (4) 14 Fighting (3) 16 Command (5) 19 Aardvark (8) 21 Postpone (5) 23 Cheated (8) 24 Dissuade (5) 27 Wand (3) 31 Divide (4) 33 Attendance (8) 34 Owing (3) 35 Ale (4) 36 Parched (3) 37 Discourteous (4)

DOWN 2 Declare (4) 3 Placed (4) 4 Flustered (8) 5 Retain (4) 6 Wrath (5) 7 Untruth (3) 8 Flood (5) 12 Swift (5) 13 Fat (5) 14 Lump (3) 15 Allude (5) 17 Dig (5) 18 Prompt (5) 20 Recuperation (8) 22 Colour (3) 25 Elude (5) 26 Go in (5) 28 Rushed (4) 29 Tolerate (4) 30 Tart (4) 32 Regret (3)

YESTERDAY'S SOLUTIONS ACROSS: 1, Appeal 5, Secure 8, Register 9, Onus 10, Asp 12, Ledge 15, Set 17, Awe 18, Rip 19, Lag 20, Villa 21, Eke 22, Ape 23, Sin 24, Win 26, Rhyme 29, Tit 33, Mean 34, Initiate 35, Client 36, Endure.

DOWN: 2, Press 3, Edit 4, Lithe 5, Spring 6, Clot 7, Route 10, Allow 11, Pagan 12, Lever 13, Delay 14, Erase 15, Spent 16, Treat 25, Ideal 27, Hoist 28, Maize 30, Inter 31, Once 32, Kind

How to Play Sudoku

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

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