SAUDI LOAN: Senate cautions Arewa govs by Vanguard Media Limited

...towards a better life for the people

VOL. 25: NO. 62693

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MONDAY, FEBRUARY 15, 2016

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$2.1bn arms probe:

UK lawmakers to quiz Police chief over bribe on Ibori's case 8

Another General arrested 9

Senate cautions Arewa govs SAUDI LOAN:

•Says move illegal, govs on their own By Henry Umoru •Urges IDB not to release funds to them A •Why we went to Saudi Arabia —Gov Shettima FG seeks $4bn to pay debts, invest in refineries

BUJA — THE Senate has warned the Chairman, Northern State Governors’ Forum, NSGF, and Governor of Borno State, Kassim Shettima, against plan

by governors of the region to obtain loan from Saudi Arabia. Shettima had led four northern governors two weeks ago to Saudi Arabia to negotiate for loan with the Islamic Development Bank, IDB. He said the visit was just an exploratory one and not necessarily to ask for loan. Contacted, Senior Special Assistant, Media and

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Lassa fever victim dies in Ogun

Mr & Mrs

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OWEI LAKEMFA

There was no coup on January 15, 1966 C M Y K

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HEBRY BOYO

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OCHEREOME

NNANNA

Dollar racketeering Buhari's rapidly and enemies from vanishing within mystique

COLUMNISTS:

SWEARING-IN: Governor Seriake Dickson of Bayelsa State (2nd right) being sworn in by the Chief Justice, Bayelsa State, Justice Kate Abiri (left) in Yenagoa, yesterday. With him is his wife, Rachael (right). Photo: NAN.

$200m Halliburton bribe fine paid directly into CBN —Dodo 9

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POCKET CARTOON

DINNER: From left, Vice Chancellor, Ahmadu Bello University, Prof.

Ibrahim Garba; Vice Chancellor, University of Ibadan, Prof. Idowu Olayinka; his wife, Dr Bolutito; President, Nigerian Mining and Geosciences Society, Prof. Gbenga Okunola; Vice Chancellor, Umaru Musa Yar'Adua University, Prof. Isa Funtua and Vice Chancellor, Mountain Top University, Prof. Elijah Ayolabi, at an appreciation dinner of the Society for the Vice Chancellors and Corporate Sponsors, in Lagos, Saturday. Photo: NAN.

Saudi loan: Senate cautions Arewa govs Continues from Page 1 Publicity to the President, Mr Garba Shehu, said the Presidency had no comment on the issue. According to the Senate, no state borrows such money without the approval of the National Assembly. It said that the move to get the loan by the governors was not only contrary to the constitution of the Federal Republic of Nigeria, but also illegal, stressing that the governors should urgently jettison their plan. The Senate noted that whoever must have led the northern governors to Saudi Arabia for such a loan was ignorant of the relevant provisions of the law or had chosen to circumvent the

law. While urging the governors to read the relevant acts, the Senate stressed that the Islamic Development Bank must not release any of their funds until due process was followed or else they will be “on their own.” The Senate in a statement, entitled: “Northern Governors' Saudi loan illegality” and signed, yesterday, by the Chairman, Senate Committee on Foreign and Domestic Debts as well as Vice Chairman, Senate Committee on Foreign Affairs, Senator Shehu Sani, APC, Kaduna Central, said: “The recent solo moves by governors of the northern states to obtain loan from the Saudi-based Islamic Devel-

IT'S UP TO YOU BY AYO ADIO

HE noise of crickets’ doesn’t impede the movement of the elephant in the jungle. Do not let the whispers of stagnant individuals distract you. It’s up to.

TAKE HEART BY ELLA RANDLE

With gratitude comes the realization that we get more than we deserve —Take Heart

BEAUTIFUL aspect of gratitude is figuring out where that goodness comes from. We recognize the sources of this goodness from life. It didn’t stem from anything we necessarily did ourselves in which we might take pride. We can appreciate positive traits in ourselves, but I think true gratitude involves a humble dependence on something greater. We acknowledge that other people or even higher powers, if you’re of a spiritual mindset, enables life’s bountifulness to help us achieve the goodness in our lives.

SAYINGS OF OUR PEOPLE

HE cane used to beat the senior wife is waiting paitently for the junior wife.

opment Bank is in direct conflict with the laws of the Federal Republic of Nigeria. “The action of the governors runs contrary to the relevant provisions of the Act that clearly and unambiguously vest the exclusive right to borrow externally on the Federal Government. "The Debt Management Office Act, 2003, Section 21 and external borrowing guidelines, 2008-2012, paragraph 2.1 clearly states that: 'Any Government or its agencies can only obtain external loan through the Federal Government and such loans must be supported by Federal Government guarantee' and the act is explicitly clear that no state, local government or federal agency shall on its own borrow externally.

What the law says “Governors of the northern states cannot just jet out to Saudi Arabia to solicit or collect loans without following the due process of the law and the law further states that 'state governments and their agencies wishing to obtain external loans shall obtain Federal Government approval in principle from the Federal Ministry of Finance.' This is the provision of paragraph 2:2(II)of the external borrowing guidelines. The statement noted that: “In addition to the above, paragraph 2.2(v) of the same guideline succinctly declares that 'All external borrowing

proposals of governments and their agencies for the next fiscal year must be submitted not later than 90 days preceding the year to the Minister of Finance for incorporation into the public sector external borrowing programme for the coming year.' “Paragraph 2:2(vii) demands that borrowing proposal must be submitted to the Federal Ministry of Finance and the Debt Management Office for consideration. "The proposal should include the purpose for which the borrowing is intended and its link to the developmental agenda of the government; cost benefit analysis showing the economic and social benefits to which the intended borrowing is to be applied; cash flow statements of the MDAs to ascertain their viability and sustainability. “To borrow from external sources, the Debt Management Office has to ascertain if the borrower has not overborrowed and the borrowing proposal must be incorporated into the annual budget for Federal Executive Council approval. “No state or group of states can borrow from any external source without approval from the

National Assembly and clearance from the Federal Ministry of Justice. “Whoever led the Northern governors to Saudi for loan is ignorant of the relevant provisions of the law or he has chosen to circumvent the law. "I wish to advise the northern governors to go back and read the relevant Acts. And I call on the Islamic Development Bank not to release any of their funds until the due process is followed or else they will be on their own.”

Why we went to Saudi Arabia —Northern govs But reacting on behalf of the governors, Borno State Commissioner for Information, Home Affairs and

Culture, Mohammed Bulama, said the trip to Saudi Arabia by the governors was just an exploratory one, stressing that things had not got to the stage of seeking Federal Government’s approval for any loan. "We are conscious that there are institutions of the Federal Government that would give approval but things have not got to that stage," he said. He told Vanguard on phone, last night, that an official of the Federal Ministry of Finance was on the trip to Saudi Arabia. According to him, the governors embarked on the trip because of the developmental challenges facing the north, especially the North-East dogged by Boko Haram insurgency.

Falana threatens FG over unrecovered $66.5bn loans, royalties

AGOS— LAGOS lawyer, Mr. Femi Falana (SAN), yesterday, threatened to commence legal proceedings against the Federal Government should it fail to recover loans, royalties, levies and other recoverable revenues amounting to $66.5 billion. Falana had on February 5, 2016 written the Finance Minister, requesting same but issued this threat due to failure of the minister to respond. Falana, in another letter dated February 12, 2016, which contained the threat, said: "When Nigeria paid a whopping sum of $12.4 billion to exit the London/ Paris Club in 2005, the Federal Government assured the Nigerian people that the $2.1 billion falling due annually in Paris Club debt service would be made available to fund critical priority sectors such as education, health, etc and stimulate the economy. "Not only have the critical sectors been neglected, the Federal Government has further plunged the country into indebtedness.

"Notwithstanding that Nigeria is currently indebted to the tune of $64 billion, we have confirmed that the Federal Government has decided to apply for a loan of $2.5 billion from the World Bank and $1 billion from the African Development Bank for the purpose of financing the 2016 budget. "Having regard to the fact that the International Monetary Fund, IMF, whose endorsement is required for the World Bank loan of $2.5 billion, will insist that certain unpalatable conditionalities be imposed on the people of Nigeria, we urge the Federal Government to jettison the plan to take the loan. "In so urging the Federal Government to desist from taking the loan or any loan whatsoever we are compelled to call on the Buhari administration to embark on the immediate recovery of outstanding loans and accrued revenues payable to the Federation Account. "From the information at

our disposal, the Federal Government is owed not less than $66.5 billion which ought to be recovered without any further delay. The details of the said recoverable loans and revenues are set out below: "From five cycles of independent audit reports compiled by the Nigeria Extractive Industries Transparency Initiative, NEITI, the potential recoverable revenues payable to the Federation Account are not less than $20,221,018,007. "The potential recoverable revenues are said to have arisen from “underpayment/underassessment of taxes, royalties, levies and rents. "If you require more information in respect of this matter you may wish to contact your colleague, Mrs Zainab Ahmed, the Minister of State for Budget and National Planning. "In her capacity as the immediate past Executive Secretary of NEITI she had called on the Federal Government to recover the said sum of $20.2 billion."

6—Vanguard, MONDAY, FEBRUARY 15, 2016

‘Madman’ arrested with 22 ATM cards, phones, others

Transformer vandal electrocuted in Ekiti By Rotimi Ojomoyela

yet-to-be identified man was, yesterday, electrocuted while vandalising a power transformer on Poly Road, Ureje community, Ado Local Government Area, Ekiti

State. The community members told newsmen that some Muslims saw a ladder hanging on the up riser connected to their transformer at about 6.20a.m., after their early morning prayer in a

nearby mosque. The community said they thought officials of the Benin Electricity Distribution Company, BDEC, had come to repair the faulty transformer which had packed up since December 24, 2014.

By Olasunkanmi Akoni & Esther Onyegbula

PERATIVES of the Rapid Response Squad, RRS, of Lagos State Police Command have arrested a suspected madman with 22 Automatic Teller Machine, ATM, cards, two mobile phones and power bank in Victoria Island. The man, who identified himself as Lanrewaju Jaiyeola, 39, was intercepted by the police after the suspicious manner he carried a backpack along Ozumba Mbadiwe Road. A reliable police source said 22 assorted credit cards, one Nokia phone, a blackberry, a power bank, several bank tellers of recent bank transactions and lots of invoices, amidst numerous pieces of papers, were found on him. He added that they discovered that eight of the credit cards were still valid. Out of these, three would expire in 2018, another three would expire in 2017, while two would expire in 2016. All the credit cards bore different names and of various banks. Confirming the arrest, RRS Commander, ACP Olatunji Disu, added that upon arrival at the RRS Headquarters in Alausa, the suspect made “statements suggestive of somebody disguising as a mad man to perpetrate crime around that axis.” He said: “Initially, we noticed that he was mentally balanced because he was answering the questions posted to him adequately. But all of a sudden, he started sounding incoherent and illogical. “He threatened the investigative Police officer, saying ‘I will make life unbearable for you if you don’t let me go’.

NAFDAC: From left—Director, Registration & Regulatory Affairs, representing DG, National Agency for Food and Drug Administration and Control, NAFDAC, Dr. Monica Eimunjeze; Mrs Grace Bankole and Mrs Rametu Momodu, Deputy Director, R&R, NAFDAC, at the agency's workshop on Common Technical Documentation in Lagos, yesterday. PHOTO: Biodun Ogunleye.

Man battle UCH over wife's death By Ola Ajayi

BADAN—THE management of University College Hospital, UCH, Ibadan and a businessman, Aare Femi Adebayo, have drawn a battle line over the death of his wife, Mrs Funmilayo Adebayo. According to the husband of the deceased, the death of his wife was caused by incompetence and negligence on the part of medical experts that conducted a test on her. The woman was said to have gone to the teaching hospital for routine medical check-up, but died in the process. While insisting that his wife, who did not complain of any ailment, was killed due to negligence on the part of the hospital, the widower has sought the services of two Senior Advocates of Nigeria, Akin Olujinmi and Rotimi Akeredolu, to write the management of the hospital to release the report of a postmortem test conducted on the deceased within seven days. He said his wife, aged 58, had, on January 25, driven herself to UCH in company of a

housemaid, Odunayo, for medical check up which she had started a week earlier. When Vanguard called the hospital, the Public Affairs Manager, Mr. Deji Bobade, said the hospital would respond at the appropriate

time. He said: “The Chief Medical Director, Professor Temitope Alonge, is not in the country. He travelled abroad. Our response will be in tandem with values and traditions that guide medical practice.”

Kidnappers of Rivers Commissioner's mother want N30m By Jimitota Onoyume

HE kidnappers of octogenarian mother of Rivers State Commissioner for Information and Communications, Mrs Patience Tam-George, have demanded for N30 million ransom. The Commissioner, Dr. TamGeorge, told the Vanguard on phone that his 85-year-old mother was whisked away by unknown gunmen, weekened, at George Ama area of the Okrika town, Rivers State. He said the kidnappers contacted an uncle with his mother’s phone demanding for N30 million, adding that they also allegedly condemned the

Peoples Democratic Party, PDP, in the state for lashing at their action. He said his mother had some health challenges, pleading that she should be released. The Commissioner said: “I am begging those holding my mother illegally to please release her. She is not too fine. Please they should release her.” When contacted for comment, the state Police Public Relations Officer, DSP Ahmad Muhammad, said police was aware of the kidnap of a lady in the area, but was not sure if she was the mother of the Commissioner for Information, adding that effort was on to rescue the victim.

2 dead, 19 missing as Fulani herdsmen invade Enugu community By Chinenyeh Ozor

WO members of a family have been reported killed by Fulani herdsmen, 19 others declared missing, with seven houses and several motorcycles burnt in Abbi C M Y K

community in Uzo-Uwani Local Government Area, Enugu State. It was gathered that the herdsmen, numbering over 30, wounded several villagers when they invaded the community in the wee hours

of Thursday, attacking the villagers with machetes before fleeing into the bush. A senior officer at the Police Area Command, Nsukka, who spoke on condition of anonymity, confirmed the story, describing the attack on

Abbi community as pathetic and sorrowful as two biological relations were killed and several others wounded. Meanwhile, a team of antiriot policemen has been drafted to the community to maintain peace.

They added that though some vital parts of the transformer had been stolen in the past, they were surprised to see the body of a strange man lying dead by the transformer. According to the community’s spokesman, Alhaji Jamiu Babalola, “it was then we knew that the electrocuted man would have been the thief that has been cannibalising the transformer. “Since December 24, 2014, we have not had power in this community because the thieves have vandalised the transformer, carting away vital parts. They even pulled down the up-riser.” When contacted, the Public Relations Officer of BEDC, Ekiti State, Mr. Kayode Ilori, said that the deceased must have started his illicit business very early, “but unfortunately for him and fortunately for us, power suddenly got to the cables and that must have electrocuted him.” Officers from Odo-Ado Police Station, who were at the scene, disclosed that a mobile phone and some electrical appliances were recovered from the deceased. They promised that investigations would be conducted with a view to finding out accomplices of the deceased. Meanwhile, they took the corpse and ladder away from the scene.

3 die during Jumat prayer By Esther Onyegbula & Ediri Michael

RAGEDY struck, Friday, afternoon when a Sports Utility Vehicle, SUV, rammed into a large crowd of Muslim faithful, who where observing Jumat service, killing three people and injuring several others at Ajeromi/Ifelodun Local Government council premises, at about 1:45p.m. It was learned that a popular woman politician, who had also come for prayers, drove the car. According to an eyewitness, Tunji Jubril, “ we were observing the Jumat prayers inside the council when she drove her car in. Usually, they do not allow people to bring in their vehicles on Friday during prayers, but I guess they allowed her because she is a politician and a very popular woman. “Immediately after the prayers, she entered her vehicle. I guess she lost concentration and rammed into the people who were still praying.”

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8—Vanguard, MONDAY, FEBRUARY 15 , 2016

UK lawmakers to quiz police chief over bribe on Ibori's case T

HE Chief of London Metropolitan Police, Bernard Hogan-Howe, is expected to answer questions from UK parliamentarians next week over claims that Scotland Yard officers investigating former Delta State governor, James Ibori, were involved in a “deliberate cover-up,” the Daily Mail has reported. A UK court was told that the Met and the Crown Prosecution Service concealed documents showing that officers investigating Mr. Ibori took bribe to reveal details of the investigations that could have helped the convicted politician dodge jail. Ibori was sentenced to a 13year jail term by the Southwark Crown Court in 2012 after admitting to fraud and money laundering. According to the revelation, one detective on the team investigating Mr. Ibori made several unexplained cash deposits into his account running into thousands of pounds after disclosing sensitive information. However, the police are accusing the whistle-blower, Bhadresh Gohil, a lawyer who had represented Ibori in the past, of falsifying documents. Surprisingly, the charges against Mr. Gohil were dropped after the CPS was forced to release papers it originally said did not exist. The papers suggested that Met officers took bribe. Mr. Gohil had served seven years in prison for admitting to helping Ibori to launder some of his loot. He later claimed he was wrongly advised to do so by his legal team. Gohil told the Daily Mail on Saturday: “I uncovered serious corruption, but when I tried to expose this, I was victimised. Astonishingly, the CPS used the might of the state and all its resources to cover up what had happened, and brought trumped-up charges to persecute me. The truth has finally unravelled.” Gohil claimed he received an anonymous letter while he was in Wandsworth Prison suggesting police in the case had been paid by a private investigative firm, RISC Management, hired by Mr. Ibori. Mr. Gohil had planned to use the evidence of police corruption to overturn his convictions, but he was later charged with perverting the course of justice and for forgery. His appeal was thrown out by the court. His counsel, Stephen Kamlish, stated that the police acted in bad faith by failing to investigate who had received cash payments.

In the document

The document had revealed that John McDonald, a Met detective involved in the Ibori investigation, met RISC director Clifford Knuckey on September 10, 2007. It further revealed that Mr. Knuckey claimed £46.75 in expenses for a meal he enjoyed in a pub with a source that day. Two days later, the document also shows that a ‘meeting with confidential source to hand over source payment for information provided… £5,000.’ Telephone records also revealed that 120 calls were made from RISC to Met officers during the Ibori investigation—including one to Mr. McDonald on the day of the pub meeting. Another document reveals Mr McDonald made 19 unexplained cash deposits

into his bank account, most of around £500, while he was working on the case in 2007. After the pub meeting, Mr. Knuckey provided a report to Ibori’s lawyers detailing secret information he had been given about the case. Their records stated: “CK (Knuckey) explained that he had met with a senior officer on September 10, 2007’ and that ‘DC McDonald (DCM) has had a serious fall out’ with other officers on the case. A list of payments by RISC reveals that between 2006 and 2007, the firm paid some £360,000 to a network of confidential sources in Ibori’s and other cases, delivered in cash by couriers to the firm’s London offices.

DFID’s conflict of interest

The UK’s Department for International Development, DFID, who financed the Met investigation of Ibori, ironically

invested huge sums in Ibori’s businesses, investigations have revealed. The conflicting involvement of the DIFD has given rise to claims of conflict of interest, which has stalled the process of seizing Mr. Ibori's assets. Last week, it was also claimed that DFID would be paid £25 million from Ibori’s asset when processes of seizing them are complete. It was discovered that the investment arm of DFID, Commonwealth Development Corporation, CDC, had invested hundreds of millions of pounds into banks, including the defunct Oceanic and Intercontinental banks and other businesses in which Mr. Ibori had huge interests. Howver, DFID denied the allegation of conflict of interest in the matter, claiming that though it funded the investigation into Mr Ibori’s case, it did not influence it.

ROAD SAFETY: From left— Transport Standardisation Officer, Federal Road Safety Corps, FRSC, Mr. Godwin Umweni; General Manager, Operations, Forte Oil Plc, Mr. Tunji Rabiu; Head, Operations, Lagos State Emergency Management Agency, LASEMA, Mr. Femi Giwa, and Forte Oil PTD/NUPENG Chairman, Mr. Mohammed Shakiru, during a safety and awareness campaign on Arrive Safely, organised by Forte Oil to sensitise drivers on zero tolerance for road accidents, in Lagos. PHOTO: Kehinde Gbadamosi.

Senate'll pass budget before March ending—Ndume By Emman Ovuakporie & Johnbobosco Agbakwuru, with agency report

BUJA—SENATE Leader, Ali Ndume, yesterday, said the Senate would strive to pass the 2016 budget before the end of March. This came on a day the House of Representatives Committee on Media and Public Affairs, Abdulrazak Namdas, said submission of the 2016 budget on February 25 might still be realisable. The Senate Leader said March was the deadline for the implementation of the 2015 budget, adding that it was the desire of the Senate to pass the 2016 budget before that time. He said contrary to reports,

the Senate did not suspend its passage indefinitely, but only said that the February 25 deadline ‘may not be feasible’. He said it was the wish of the National Assembly to pass the budget five weeks before the expiration of the period set for the implementation of the 2015 budget, but that was not possible due to some errors. He said: “We have not postponed it indefinitely; we are saying that with the current developments, the February 25 deadline we gave ourselves may not be realistic. “That is why we now said it is not possible to say we will come back on 25th and say this is the budget; we are not saying that we have suspended it indefinitely.

“The reason we fixed 25th was because we wanted to have a gap of five weeks.” He said the gap would have enabled the Senate fix whatever issues needed to be handled before the lapsing of the March 31 deadline for the implementation of the 2015 budget. Ndume said the National Assembly leadership had met with ministers to iron out the grey areas and make corrections. He also assured that the Senate would ensure strict compliance with the implementation of the budget. He said that once funds were available, the present administration would ensure thorough implementation.

UAC boss, Larry Ettah urges new forex policy thrust

ROUP Managing Director, UAC Plc, Mr. Larry Ettah, has urged the monetary authorities to increase the allocation of foreign exchange to the real economic sector in order to accelerate the nation’s economic development. He said this while reacting to the Bankers Committee’s worry over the high level of foreign exchange allocation for medical bills, school fees and other invisibles, which had been calculated to make up an estimated 15 percent of total foreign exchange demands in the country. Ettah explained that the pressure on demand for forex became especially significant because CBN had continued to fund “private elite choices” with high allocations to invisibles such as school fees, PTA, BTA and medicals to the detriment of the real sector like agriculture, industry and building and construction. He said: “Forex should ideally be targeted at the real sector that has significant local economic linkages, particularly with a view to reviving the nation’s dying productive sectors and the spin-off in terms of employment generation.” He observed that recent statistics released by CBN showed that Nigeria’s productive subsectors accounted for 93.67 percent of the country ’s Gross Domestic Product, GDP, in 2000 and that this contribution steadily declined to 76.21 percent and 70.71 percent in 2010 and 2013, respectively. “Valid arguments exist as to how to address the trade and financial flow mismatch as seen in the current foreign exchange management regime,” Ettah said, stressing, however, that “flexibility is expected, but it should not include currently peddled populist false remedy of wholesale devaluation without maintaining policies that seek to domesticate production.” He described as unwholesome a situation in which an estimated N155 billion was spent per annum in the past to educate Nigerian children in Ghana at a time that about N122 billion was spent to fund all federal universities.

Vanguard, MONDAY FEBRUARY 15, 2016 — 9

$2.1BN ARMS PROBE: Ex- DMI, Gen Wiwa arrested •As EFCC grants Ex-Air Chief's wife bail By Soni Daniel, Northern Regional Editor & Kingsley Omonobi

...Incoming passengers at airports for screening

BUJA—IN continuation of investigations into the disbursement of the $2.1 billion arms fund, another serving officer and former Director of Military Intelligence, Major General Wiwa, has been arrested. This came as wife of the former Chief of Air Staff, Mrs. Lara Amosu, who was detained overnight by the Economic and Financial Crimes Commission, EFCC, has been freed. General Wiwa, younger brother to late Ken Saro-Wiwa, the late Ogoni rights activists’ who was executed by the Abacha’s government in connection with the Ogoni crises of the 1990’s, was the Deputy Commandant at the Armed Forces Resettlement Centre, Oshodi, before his arrest. Security sources disclosed that the senior officer, who is currently being detained at one of the major military barracks in Abuja, might have been arrested because of the sensitive positions he held in service. General Wiwa was at several times, Military Assistant to late General Owoye Azazi when he served as Chief of Defence Staff. He was Principal Staff Officer, PGSO, at the office of the National Security Adviser when Azazi served as NSA. He continued in the position as PGSO when Col Sambo Dasuki was NSA and was later appointed Director of Military Intelligence when Lt. General Azubuike Ihejirika became the Chief of Army staff. When Lt. General Kenneth Minimah assumed office as the Chief of Army Staff, he retained Wiwa as DMI. Sources further disclosed that General Wiwa could be the key to unraveling a lot of unclear deals involving some military and arms contractors as well as the roles of some service chiefs, who may be invited in future as investigation continues. Last Friday, Army authorities confirmed that 12 Army officers, including serving and retired, had been sent to the EFCC for investigation. The Army also said that at the end of the commission’s investigations, those found culpable would be tried by a military Court Martial. A statement signed by Col Sani Usman, Acting Director, Army Public Relations, had said: “The Nigerian Army wishes to inform the public that 12 Army officers have been sent to the Economic and Financial Crime Commission (EFCC), for investigation. “This comprised of three serving Major Generals, and one retired, C M Y K

Lassa fever death toll remains 47, Health minister insists

By Emman Ovuakporie & Johnbosco Agbakwuru

LAUNCH: From left — Executive Director, Public Sector, Union Bank, Ibrahim Kwargana; Kaduna State Accountant-General, Mr Umar Hassan Waziri; Director, Transformation, Union Bank Plc, Mr Joe Mbulu, and Head of Retail, Union Bank, Mr Carlos Wanderly, at the Unionkorrect product launch and branch unveiling of Union Bank at Ahmadu Bello Way and Yakubu Gowon Way in Kaduna, weekend. three Brigadier Generals, four Colonels and one Lieutenant Colonel. “However, it should be noted that at the end of the Commission’s investigations those found culpable will be tried by a military Court Martial. Col Usman, did not state in specific term what the officers were being investigated for. However, wife of the former Chief of Air Staff, Mrs. Lara Amosu, who was detained overnight by the EFCC, has been freed. Vanguard gathered that Amosu was detained following certain

accounts related to her husband, who is being investigated in connection with the $2.1 billion arms fund traced to her. Although the exact figure and details of the accounts were not made public, EFCC interrogated her for hours, last week. But a source close to the investigation, confirmed to Vanguard last night that Mrs. Amosu had been released on bail. “She is not in our custody, having been granted administrative bail. She will be asked to report back whenever we need her for further investigation,”

the source said. A top source said the amount of money recovered from the former Air chief’s house in Lagos had been taken and kept as exhibit to be used when the trial of those involved in the arms scandal begins. There were earlier reports that the anti-graft agency had discovered a whopping sum of N17.5 billion in the accounts of wives of three airforce chiefs. Meanwhile, Citizens’ Initiative for Security

$200m Halliburton bribe fines paid directly into CBN — LAWYERS By Soni Daniel, Northern Region Editor

HE over $200 million fines paid by five multinational firms which were implicated in the Halliburton bribery scandal, were paid directly into the Central Bank of Nigeria and not into the accounts of the Nigerian lawyers, who prosecuted the case. Similarly, the five top Nigerian lawyers, who prosecuted the multinational firms were paid less than 10 percent of the amount recovered from the companies for cost of prosecution and professional fees. One of the lawyers, Mr. Damian Dodo, a Senior Advocate of Nigeria, who was quizzed by the Economic and Financial Crimes Commission, EFCC, last Thursday, confirmed to Vanguard that the amount, which runs into billions of Naira was not paid to the five lawyers but directly to the government. “The case must be made clear that the five senior lawyers worked as a team and the fines received from the

indicted companies were paid directly into designated Federal Government accounts with the CBN. “The legal team was merely paid a small percentage, which was less than 10 percent of the fines paid by the companies to cover cost of prosecution and our legal fees,” the SAN said yesterday. Dodo, who said they had nothing to hide in respect of the assignment they handled for the country, disclosed the details of the payments made by the indicted firms had been made available to the EFCC for proper guidance. He added: “It is worth pointing out that relevant agencies of government were involved in the settlement agreements including the offices of the National Security Adviser and the Economic and Financial Crimes Commission. “The Secretary of the EFCC, Mr. Emmanuel Akomaye, witnessed three of the agreements, namely, Snamprogetti,Halliburton and Japan Gasoline Corporation on

behalf of the Federal Government.’’ Dodo defended the payments made to them, arguing that the fees were legal. Quoting from Clause six of the agreement reached with the Japan Gasoline Corporation, Dodo, said: “The Federal Government of Nigeria confirms that the reimbursement of the government legal costs to the designated counsel in the terms of the agreement is lawful under the Nigerian laws and regulations, and the government counsel has confirmed to the Federal Government of Nigeria that no proceeds of such reimbursement will be provided to any government officials”. The senior lawyer explained that their brief was still subsisting as their mandate included negotiation and monitoring of the firms to ensure that they do not engage in any financial malpractice in Nigeria.

B U J A — CONTRARY to reports that over 80 people had died as a result of the outbreak of Lassa fever in the country, the Minister of Health, Prof. Isaac Adewole has insisted that the number of deaths recorded in Nigeria as a result of Lassa fever in the country remained 47. Prof. Adewole told the members of joint House Committee on Health, who had asked him to explain the number of deaths so far recorded as a result of the Lassa fever outbreak in the country and efforts made to eradicate the virus said what had been confirmed officially nation wide was 47 deaths and that any other figure published by the media was mere suspicion. The minister, who disclosed this while presenting his brief on 2015 budget performance at the National Assembly also said that he had instructed airport authorities to screen passengers coming into the country for Lassa fever and Zika virus. This is just as the Chairman, House of Representatives Committee on HIV/AIDS, Mr David Ombugadu told Vanguard that the overall objective of budget defence was for the lawmakers to match the budgetary allocation with the realities on ground. Ombugadu, who said that the lawmakers were more closer to the people further said that they respond to the needs of the people, adding, “so what is in the paper documented will be reassessed based on the demand driven need of our people and then we march it.” Chairman, House Committee on Health Services, Rep Chike Okafor at the meeting told the health ministry to drop any programme or project that will not promote the good health of Nigerians.

10—Vanguard, MONDAY JANUARY 15 , 2016

Nigeria seeks fund to repay debt, invest in refineries

Lagos community moves against construction of modular refinery By Godwin Oritse

By Ediri Ejor

IGERIA is in talks with oil majors and banks to raise capital for new drilling and to repay up to $4 billion in debt that the NNPC has accumulated over years of mismanagement. Minister of State for Petroleum and Group managing Director of Nigerian National Petroleum Corporation, NNPC, Mr. Ibe Kachikwu, who disclosed this to Reuters, said he wanted to increase output to up to 2.5 million barrels per day by the end of 2016, against the current capacity of 2.3m bpd. President Muhammadu Buhari had made reforming the oil sector a priority as a slump in oil prices hammers the economy. The President fired the NNPC board and appointed Kachikwu to overhaul a company whose opaque structures have allowed corruption and oil theft to flourish. Nigeria’s oil and gas output has been relatively stagnant as big offshore projects have been held up by muchdelayed government funding and uncertainty over fiscal terms. Africa’s biggest economy produces oil with foreign and local firms through production-sharing contracts and joint ventures (JVs) but investments have been held up because NNPC has been unable to pay its part: bills have been piling up since 2012. Kachikwu said debt as of November stood at $3.5-$4 billion, which NNPC wanted to cut through deals such as a $1.2 billion multi-year drilling financing signed with Chevron in September. “The target is that over 2017, we’ll begin to look at zero,” he said in an interview, referring to debt and the goal of ending the need for JVs to depend on NNPC cash. NNPC was in talks with oil majors such as Italy’s Eni and oil traders Vitol and Gunvor, seeking partnerships to revamp assets such as refineries after decades of neglect. Cash-strapped for years, it reported a loss of 267.14 billion naira ($1.3 billion) for 2015. “My ideal would be to bring in third party capital, do a joint investment and management of the refineries and work out a pay-out process over 5 to 6 years basically on lifting of some portion of the finished products,” Kachikwu said.

AGOS—THE people of Irede community in Amuwo Odofin Local Government Area of Lagos State have moved against the construction of a refinery in their community by the owners of Integrated Oil and Gas. Integrated Oil and Gas Limited is chaired by former ship Captain Emmanuel Ihenacho, a former Minister of Interior. Although, the construction of the refinery was at the preliminary stage at the time of filing this report with the firm sandfilling the

portion earmarked for the refinery after dredging the waters. The dredging process and sand filling negatively impacted on houses in the community, a development that led the people to raise an alarm. Speaking on the development, Chief Raymond Gold, a community leader told Vanguard that his people wrote to all the relevant agencies to intimate them of the impact of the dredging process. According to Gold, Integrated Oil started dredging without the mandatory Environmental Impact

Assessment Report, EIAR. “The dredging is affecting houses, we are not talking of peoples’ health yet but structures in the community. “To worsen the matter, the chief proponent of the project, Capt Ihenacho is talking down on everybody. This is a man who was a minister of the Federal Republic, with such bad temperament. “Imagine what this man can do in the business world, in fact, I am beginning to feel that all the verbal promises he made to the community are as good as nothing,” Gold added.

VISIT: From left Barr. Z.A Ajibola; Professor Dawud Noibi; Prince Bola Ajibola and Alhaji S.O Babalola (OON), President, Muslim Ummah of South West Nigeria, MUSWEN, at the prayer during the MUSWEN president's courtesy visit to Prince Bola Ajibola in Abeokuta, yesterday. Photo by Wunmi Akinola.

Confirming the absence of an EIAR, Mr. Alonge, who is in charge of such report at the Federal Ministry of Environment said Integrated Oil and Gas has not been issued with such report. Alonge also said that Ihenacho did intimate the ministry of his intention to build a modular refinery but nothing more. Also commenting on the development, Chairman of Integrated Oil and Gas, Captain Emmanuel Ihenacho warned Vanguard to stay away from him and accused the paper of masterminding his arrest in 2012. His words “Do you remember the last time you called me, you remember what happened to me? “Whenever you call me I expect the worst. If I have an on-going project it does not concern you, it does not concern anybody. “If I have an intention to build a refinery, it is not a bad thing, it is to get us away from this situation where we are dependent on foreigners for imported petroleum products. “People should be applauding a good idea and any case I have no problem in Irede. “If Irede people are on their side I am on my side and I have not started constructing. “Look don’t get involved with those things again, what happened to me in 2012 will never happen again, anybody who fronts it, I am after that person. “Stay away from me, I do not want to talk to anybody about anything. Anything I have to do, I do above board. “If you go and publish anything that is a lie, there are consequences, please stay away from me, stay away.''

Dangote launches 8,000 hectares rice growers scheme By Naomi Uzor, with Agency reports

S the Government turns attention to agriculture to ease the pressure on the economy and create jobs, President of Dangote Group at the weekend flagged off his multi-billion Naira 8000 hectares of Rice Outgrowers Scheme in Hadejia, Jigawa state as part of his partnership with

governments at all levels to reduce food imports. The launch of the Scheme marked with the distribution of rice seedlings to the benefitting farmers is with potential to provide direct jobs for 5000 farmers and another 5000 indirect jobs for various scheme dependants. The rice project being executed by Dangote Rice Limited and expected to be replicated in six

other states of the federation is a fallout of memorandum of understanding signed between Dangote and the Federal government on one hand and the Jigawa state government on another. Speaking shortly before he

Bankers donate day’s salary to needy By Dave Oso

I didn't ask court to stop my trial, says Tarfa Odubela in a statement, Justice

RESH facts emerged from the records of the Federal High Court, Lagos where Lagos lawyer, Mr Ricky Tarfa, SAN, filed a N2.5 billion fundamental enforcement suit against the Economic and Financial Crimes Commission, EFCC, that he did not ask for any court order stopping his trial in any court, contrary to earlier reports. Rather, it was the counsel to the anti-graft agency, one Rotimi Oyedepo who urged the court to make such order. According the Head of Chambers of Ricky Tarfa & Co, Mr. John

Muhammed Idris in his short ruling, ordered as follows that, “No party to this suit shall take any step to foist a fiat accompli on the court, or any act that will have the effect of rendering nugatory any order the court will make at the conclusion of hearing. On the request of Oyedepo, Justice Idris categorically ordered that, “The court has no jurisdiction to give any order that will prevent the free flow of charge No. LD/ 2417C/16.” Tarfa had filed the suit against EFCC and its acting boss, Ibrahim Magu asking for N2.5billion due to his illegal arrest and detention.

made the distribution, Alhaji Dangote explained that Nigeria depended on agriculture for economic development before the discovery of oil noting that oil was meant to complement the agric but sadly the nation abandoned agric and concentrated on oil.

AGOS—IN a bid to share some love this season, particularly with indigent and needy people, the staff of Wema Bank Plc have each donated a day’s salary for love in an initiative named: ‘’Purple Nectar.’’ This initiative, designed to touch 10 lives positively while celebrating this year’s Valentine Day, is supported by management of the bank. The Purple Nectar initiative is a shift, from the conventional romantic way of celebrating St Valentine’s Day between couples, to showing love to people in the Nigerian society who are in need of immediate assistance. These individuals selected by

staff across the regions in Nigeria, are those facing serious health challenges ranging from cancer, kidney failure, polio, abandonment as well as other difficult life situations. Donated salaries will be split equally among the beneficiaries, to be presented during this season. In his remarks, Mr. Segun Oloketuyi, MD, Wema Bank Plc, said: “As we plan to celebrate the Valentine day with our loved ones, there are people around us who need a hand of love, staff of Wema Bank on their own volition, decided to share their love and give hope to people this season. This also serves as an opportunity for us to encourage the act of giving and affecting the lives of people positively.”

Vanguard, MONDAY FEBRUARY 15, 2016 — 11

OBSEQUIES: From left; Mr. Gbenga Akinrinade; Mr. Tunde Akinrinade; Mr. Soji Akinrinade and Mr Elliot Akinyele during the burial of Deaconess Julianah Omolara Akinrinade at Christ Apostolic Church, Yakoyo, Osun State, Saturday. Photos by Dare Fasube.

From left; Mr Gbenga Adefaye, GM/Editor-in-Chief, Vanguard Newspapers; Mr Kunle Oyatomi, Director of Publicity, Research and Strategy, All Progressives Congress, APC, Osun State; Mr Demola Abimboye and Mr Charles Amupitan.

Lassa fever victim dies in Ogun By Daud Olatunji

B E O K U TA — O G U N State Government, yesterday said that a-28-year-old lady confirmed to be a victim of the first case of lassa fever in the state has died. The victim simply identified as Eze was reportedly admitted into the isolation unit of Olabisi Onabanjo University Teaching

Hospital, Sagamu and had spent nine days before she gave up the ghost. The state government disclosed that it recorded two cases of lassa fever while the first case has just lost her life. Commissioner for Health, Dr. Babatunde Ipaye, disclosed this in Abeokuta, the state capital. Ipaye said that, the deceased had travelled back to Ogun State

from a burial ceremony in Ebonyi State on the 15th of January after she was admitted into two private hospitals in Ado-Odo/Ota Local Government where the lassa fever virus was detected in her system. According to Ipaye, the deceased had received a nine day course of Ribavirin, potent antibiotics, appropriate blood transfusions and necessary

psychosocial support. “We were only waiting to celebrate the completion of medication today and take a blood sample to confirm cure when unexpected complication set in yesterday, Saturday, 13, February, 2016”, he said. The commissioner, however, assured the people of the state that none of the 121 primary contacts that have been under the government’s watchful eyes with the provision of thermometers have displayed any symptom suggestive of lassa.

My tenure expires today – ALUKO, Otuoke VC By Clifford Ndujihe & Dayo Adesulu

S controversies continue to trail the Federal Government’s appointment of new vice chancellors for 13 universities, including the National Open University of Nigeria, NOUN, the ViceChancellor, Federal University Otuoke, Professor Bolaji Aluko, has said that he was not sacked and that his tenure will expire today. In a statement, yesterday, Professor Aluko said that from the day he was appointed as vice chancellor of the university, he knew his that tenure will terminate today, February 15, 2016 and that

he has cleared his desk in readiness for his successor. Besides, he disclosed that he and eight other Vice chancellors affected by the current appointments were appointed the same day with their tenure expected to terminate today. Professor Aluko attached a letter from the Federal Ministry of Education on his appointment for a single term and a letter dated February 4, 2016 from the National Universities Commission, NUC to eight Pro-chancellors of the universities (Dutse, Dutsin-Ma, Kashere, Lafia, Lokoja, NdufuAlike, Otuoke and Wukari) ‘’reconfirming the date of expiration of tenure of their Vice-Chancellors, and appropriately instructing each

SERAP wants corrupt lawyers sanctioned some lawyers.

By Abdulwahab Abdulah

AGOS—AGAINST the allegation that lawyers and judges are shielding corrupt politicians, a non-governmental organisation, Socio-Economic Rights and Accountability Project (SERAP) has called for tougher sanctions against those found to be involved in large scale political corruption. In recent times, there have been growing allegations of corruption against some senior lawyers, facilitating judicial corruption, which is making Economic and Financial Crimes Commission, EFCC to probe

Executive director, SERAP, Adetokunbo Mumuni, said, “It is not only professional misconduct but also a crime for a lawyer to knowingly assist or induce another to break, violate or attempt to violate the rules of professional conduct or commit a corrupt act and other action prejudicial to the administration of justice that reflects adversely on the lawyer ’s honesty, trustworthiness or fitness as a lawyer in other respects.” “Any lawyer who acts in such a way as to be directly responsible for the act of corruption or acts as part of a conspiracy to corrupt should face liability as a ‘principal’ offender.''

of them about the proper handing-over to an Acting ViceChancellor by the current VC in order to avoid any vacuum in power within the universities.’’ He also attached a letter that made the previous referenced letter necessary, that is a letter (dated 19 November, 2015) to the same eight Pro-Chancellors asking for the suspension of the due-process appointment of new

Vice-Chancellors in their Universities, a process that began with newspaper advertisements. His statement read in part: ‘’My last official day is therefore Monday, February 15, 2016, which I have known from Day One, which I have never sought to change. In fact, at this time, I have cleared out my desk in readiness for a new Vice-Chancellor.''

Don’t shield Aluko from trial, Fayose tells FG By Rotimi Ojomoyela

D O - E K I T I — GOVERNOR Ayodele Fayose of Ekiti State, has told the Federal Government not to shield Dr Tope Aluko from facing perjury trial. A Chief Magistrate Court sitting in Ado-Ekiti had granted an experte order, compelling the State Commissioner of Police to bring Dr Tope Aluko to Court for the purpose of committing him to trial for the offence of perjury. But Aluko, on the 10th of February had approached the same Magistrate Court seeking the vacation of the Warrant of Arrest issued against him. Aluko was wanted for allegedly recounting the statement earlier made on oath during the trial of the election of Governor Ayodele Fayose at the Election Petition Tribunal, where he served as a

principal witness to the Peoples Democratic Party, PDP, in a case instituted by the All Progressives Congress, APC. The PDP Scribe had a couple of weeks ago granted an interview where he averred that the election of June 21, 2014, where Fayose had defeated ex-governor Kayode Fayemi to emerge governor , was allegedly rigged by the PDP in cahoots with the military. Fayose said Federal Government should not shield Dr Aluko from facing open trial over his allegation that the June 21, 2014 governorship poll in the state was rigged in favour of the governor and his party, the Peoples Democratic Party (PDP). The governor, in a statement by his Chief Press Secretary, Mr Idowu Adelusi, in Ado-Ekiti yesterday, said it was unbecoming of a government, which prides itself as clean, to use an agency of government to prevent somebody that has breached the law of the land from prosecution.

Lagos tops drivers licence, number plates issuing states By Peter Egwuatu

AGOS State has emerged top in the number of drivers’ licences processed in Nigeria for the last three years. It was followed by the Federal Capital Territory, FCT and Ogun State. Available statistics obtained by Vanguard, weekend, show that Lagos State led in the number of driving licence processed in 2013, 2014 and 2015, with 127,261 units, 225,284 units and 298,319 units respectively. It was followed by FCT with 42,613 units, 54,532 units and 106,946 units while Rivers State ranked third with 27,805 units, 49, 521 units in 2014 and 2015 respectively. In 2015, Delta State was ranked third position, with 64,482 units. Specifically, Lagos accounted for 32.2 per cent of the total number of driving licence processed in the country, which stood at 395,539 units in 2013, followed by FCT with 10.8 per cent and Ogun State 7.0 per cent. In 2014, Lagos accounted for 34.5 per cent of the total of 633,046 units of the processed licences, followed by FCT with 8.4 per cent, while Ogun State accounted for 7.6 per cent. In 2015, Lagos recorded highest number of processed licences, accounting for 25 per cent of the total 1.16 million units. It was followed by FCT with 9.2 per cent, while Delta State accounted for 5.6 per cent. Other states in the 10th positions of processed licensed in 2015 include: Rivers 5.5 per cent; Oyo 4.7 per cent; Ogun 4.5 per cent; Anambra 4.3 per cent; Abia 3.2 per cent; Gombe 2.7 per cent; Enugu 2.5 per cent.

12—Vanguard, MONDAY, FEBRUARY 15, 2016

Prof. Sagay, Lori-Ogbebor, others make Olu of Warri’s admin council By Egufe Yafugborhi

ARRI—HIS Majesty, Ogiame Ikenwole, the Olu of Warri, has inaugurated a body of eminent Itsekiri personalities into an administrative council to assist in driving his vision of a peaceful reign and development in his kingdom.

The 26-man Olu-In-Council inaugurated by the monarch at his palace in Warri, Delta State, include Prof. Itse Sagay, SAN, Chief Rita Lori-Ogbebor, Edward Ekpoko, Secretary Itsekiri Leaders of Thought and Charles Ajuyah, SAN, former Delta State AttorneyGeneral and Commissioner for

Justice. Others include Chief Yahaya Pessu (Ojomo of Warri Kingdom), Chief Isaac Jimide (Ikeri of Warri Kingdom), Chief Brown Mene (OgwaOlusan of Warri Kingdom), Chief Francis Omatseye (Edigbe of Warri kingdom), Prince Eroro Emiko and

Prince Andrew Ayu. Others are Chief Roland Oritsejafor, Chief Kofi Kartey, Chief Ayirimi Emami, Chief Thomas Ereyitomi, Pa. J.O.S Ayomike, Engr. Alex Neyin, Pa. P. K. Gbragada, Jolomi Rewane, Dr. Ebietsuwa Omotsola, Dr. Jackson Reyeforju, Chief P. E Uku, and Mrs. Patricia Arawore.

The Olu charged the thinktank to leverage on a 10-year master plan, including setting up an Itsekiri archive/ library/museum, as a policy guide in driving the intended vision to move his kingdom forward in an atmosphere of mutual respect and trust with his ethnic neighbours.

Amnesty Programme: We've stepped on toes, but won’t be distracted —Presidency By Henry Umoru & Chris Ochayi

BUJA—THE Presidency said, yesterday, that with the mandate of the Amnesty Programme to ensure peace in the Niger Delta region, it may have stepped on the toes of some very powerful persons in the country, but vowed never to be distracted. The Federal Government has, however, called on the people of the Niger Delta

to continue to support the current administration’s commitment to ensuring succour as well as make life meaningful for the Niger Delta youth and region in general, despite what it termed the harsh economic challenges of the time. Also, the intervention of the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, to end the renewed attacks on oil facilities in the region has started yielding results as over 1,500 militants have

expressed their desire to embrace amnesty and surrender arms to the Federal Government. Meanwhile, addressing journalists, yesterday, in Abuja, Special Adviser to the President / Coordinator of the Presidential Amnesty Programme, Brig-Gen. Paul Boroh (retd), said that the amnesty programme has helped to bring stability and peace to the region, just as he expressed satisfaction with the success of the programme.

Dickson sworn in for 2nd term By Samuel Oyadongha & Emem Idio

E N A G O A — GOVERNOR Seriake Dickson of Bayelsa State and his Deputy, Rear Admiral Gboribiogha JohnJonah (retd), were, yesterday, sworn in for a second term in office. The state Chief Judge, Justice Kate Abiri, administered the oaths of office at the occasion held at the Samson Siasia Stadium. The event witnessed a mammoth attendance including the National Working Committee members of the Peoples Democratic Party, PDP, led by its acting National Chairman, Prince Uche Secondus; Governor of Ekiti State, Ayodele Fayose; Governor Nyessom Wike of Rivers State; Governor Okezie Ikpeazu of Abia State; Governor Emmanuel Udom of Akwa Ibom State amd Governor Darius Ishaku of Taraba State; Governor Hassan of Gombe State; Governor Ifeanyi Okowa of Delta State former Governor of Anambra State; Peter Obi and PDP members of the state House of Assembly. Others included, Chairman Bayelsa Council of Traditional Rulers and first military administrator of old Rivers State, King Alfred Diete-Spiff, the

C M Y K

Amayanabo of Twon Brass; Senator Godswill Akpabio, Senator Foster Ogola, former Senate President, Adolphus Wabara, Senator J. Brambaifa, Senator Emmanuel Diffa and former military governor of Rivers State, Gen Zamani Lekwot. In his inaugural address, Dickson, who attributed his victory to God and the people of the state, promised to consolidate on the gains of the last four years and assured Bayelsans of an allinclusive government where there will be no

discrimination, but equity, justice and fairness. He said: “First and foremost, we thank God Almighty for making today ’s historic event possible. Today’s event coming at the end of all the political trials and tribulations I have had to manage in the last four years from within and without, manifesting in different shapes and forms, is a testimony of God’s faithfulness and mercies and shows also that power comes from God and God alone."

Tompolo: No clue on whereabouts, 4 days to court appearance By Emma Amaize & Egufe Yafugborhi

ARRI—FOUR days to the February 19 date given by a Federal High Court sitting in Lagos to the nation’s security agencies to produce the former ex-militant leader, Chief G o v e r n m e n t Ekpemupolo, alias Tompolo, there is no clue on his whereabouts. Also, his Ijaw relatives are not ready to give up the former militant leader, who the people of Gbaramatu-Ijaw in Warri South-West Local Government Area, Delta State, regard in very high esteem. A royal father, who

spoke on condition of anonymity, said: “No Gbaramatu man will reveal the hideout of Tompolo to any security man even if he knows, unless that person does not have a true Ijaw blood flowing in him. “Tompolo is an institution, not only in Ijawland, but in the whole of Niger Delta. He has touched many lives and is the current symbol of the struggle. Therefore, it is not easy for any full-blooded Ijaw man to betray him. From what I can see, the whole thing is about business transaction, the Federal Government should settle the matter and let peace reign.”

SWEARING-IN: From left: Chief Judge of Bayelsa State, Justice Kate Abiri; Governor Seriake Dickson supported by his wife, Rachael, after being sworn in for a second term as governor, at the Samson Siasia Sports Complex in Yenagoa. Photo: Lucky Francis.

Vanguard, MONDAY JANUARY 15 , 2015 — 13

14—Vanguard, MONDAY, FEBRUARY 15, 2016

SWEARING IN OF GOVERNOR SERIAKE DICKSON OF BAYELSA STATE

ABOVE: Governor Seriake Dickson of Bayelsa State inspecting a Guard of Honour mounted by a detachment of the Nigerian Police, Bayelsa State Command, shortly after his swearing in for a second term at the Samson Siasia Sports Complex in Yenagoa, yesterday. PHOTOS: Lucky Francis. TOP RIGHT: From left— Chief Judge of Bayelsa State, Justice Kate Abiri; Deputy Governor, Rear Admiral John Jonah (rtd.), and his wife, Silverline, during his swearing in at the Samson Siasia Sports Complex in Yenagoa. RIGHT: From left— Governor Ayo Fayose of Ekiti State, Governor Nyesom Wike of Rivers State, Governor Ifeanyi Okowa of Governor of Delta State and Governor Dickson (right), at the event.

MURITALA MUHAMMED 40TH MEMORIAL LECTURE

President Muhammadu Buhari (middle) and members of the Board of Trustees, Muritala Muhammed Foundation, at the 40th memorial lecture on Regional Security and State Building: Portents and Prospects, in Abuja. PHOTOS: Abayomi Adeshida.

United Nations Under-Secretary for West African Affairs, Mr. Mohammed Chambas (left) and CEO, Phase 3 Telekoms, Mr. Stanley Jegede, at the event. C M Y K

From left— Minister of Solid Minerals Development, Dr. Kayode Fayemi; Information Minister, Alhaji Lai Mohammed; guest lecturer, General David Richards, and member, BoT, Mr. Risqua Muritala Muhammed (right) at the event.

Mr. Ben Asante (left) Vanguard columnist, Mrs. Julie Coker, and other guests, at the event.

Chairman, BoT, Lt. Gen. Theophilus Danjuma (left) and Chairman, Bulet Construction Ltd., Malam Ismaila Isa, at the event.

Vanguard, MONDAY, FEBRUARY 15 , 2016—15

PDP, Ohanaeze Ndigbo ‘arm twisted' Bishop Onaga to transfer Fr Mbaka—Parishioners E

By Francis Igata

NUGU—MEMBERS of the Adoration Ministry, Enugu Nigeria, AMEN, yesterday, accused the Catholic Bishop of Enugu Diocese, Most Rev. Calistus Onaga, of bowing to the pressures from the Peoples Democratic Party, PDP, and the Ohanaeze Ndigbo, over the recent transfer of Rev. Fr. Ejike Mbaka. Mbaka is the priest in charge of the Adoration Ministry, which has thousands of followers drawn from various churches but was transfered on January 30,from Christ the King Parish,GRA, where he had been the parish priest for 20 years to Our Lady of Rosary,Emene Enugu. The fiery priest had while leaving CKP on January 30,described his transfer as,”a calculated attempt meant to make him suffer.” In a statement signed by Kingsley Eze, Igbo Youth Kaduna; Sunday Ukam,Enugu Adorer; Adedije Wale,Osun State, Adorer; and twenty others, they maintained that the transfer of Mbaka out of Christ the King Parish, GRA, Enugu, fell short of the routine transfer of priests in the diocese. They alleged that whereas former Bishops in the diocese gave Mbaka all the support needed for the ministry to flourish, Bishop Onaga had allegedly been acting a script aimed at bringing the fiery priest down.

Bishops Eneja, Gbuji, Onaga and Fr. Mbaka

“What Bishop Michael Eneja saw and allowed, Bishop Gbuji protected and watered but Bishop Onaga uprooted in a most barbaric and despondent manner. How? Sometime ago, he gave an impromptu directive that the Ministry should stop the Wednesday all-night Adoration prayer, which Fr Mbaka complied with. The directive would have blown out the fire of the ministry and brought it to a painful end if not for the intervention of the Holy Spirit,” they stated. “Is Bishop Onaga angry that Fr Mbaka is prophesying? Was it not from the seat of the Bishop he occupies that Fr Mbaka was ordained a priest, a king and prophet? How then can the Church become worried when he begins to prophesy? Does the Church contradict itself? “We are not happy with the manner the wind of the transfer blew and many of us feel bad about it. Fr Mbaka is holding the brake for some of us and we implore him to keep pressing the brake and hold the steering firmly because all eyes are on him. “Some of us who are not from

KILLING OF US RETURNEE:

Police arrest 2 final year varsity students in Enugu

SESSION: From left: GMD, Chams Plc, Mr. Olufemi Williams; guest speaker and former Governor of Anambra State, Sir Peter Obi; Chaplain, Wesley Chapel, Lekki, Very Reverend Ayo Richards, and Convener, Words of Wisdom Session for young professionals, Sir Demola Aladekomo, during the Words of Wisdom Session with Peter Obi at Wesley Chapel, Lekki, in Lagos. Enugu Diocese didn’t believe it that Fr Mbaka was transferred in this manner. The transfer is not our problem but the manner it was done. It struck us like thunder and we have been inundated with calls from our people residing outside the country, UK, Spain, USA ,etc. We are dumbfounded and we can’t help asking- Is this the fight of faith that the diocese is enjoined to fight? Is this how the diocese wants to win souls? While the true lovers of the Catholic Church are thinking of how to protect Fr Mbaka as gift to the Catholic Church, his own diocese just exposed him and left him without shelter.

Bishop Onaga silent

“Most Nigerians know that the uncommon silence of Bishop Onaga over Fr Mbaka’s prophesy of the defeat of the Goodluck Jonathan’s PDP-led government by President Muhammadu Buhari was not really for nothing. “Barely few weeks before the posting, the voice of a faction of the Ohanaeze Ndi Igbo, a socio-cultural group that fell out with the party was heard barking at Fr Mbaka to ‘shut up’ over his prophesies. And now comes the posting done in such a manner as to really shut Fr Mbaka up. A source close to Bishop Onaga disclosed to us that the Bishop said he transferred Fr Mbaka out of pressure from Ohanaeze and PDP. The posting is not Holy

Ghost oriented but PDPnized and Ohanaezenized, and any cleric be him Pastor, Bishop or Cardinal that supported this is enemy of the Holy Spirit. “How can the Bishop just wake up and tell Fr Mbaka to pack into a parish that cannot comfortably contain two priests as a third priest? Is he meant to punish him? Is that the way the Catholic Church in the diocese is meant to reward and encourage him for the glory and honour he had brought to the Catholic Church in this part of the divide and for his unalloyed humility and total obedience to the Church? Is that the way the Church is meant to reward him for taking care of the flock of the Catholic Church both within and outside the dioceses?”, the statement read. They equally warned the Secretary, Catholic Secretariat of Nigeria, Rev. Fr. Raph Madu to stay out of Mbaka’s ministry, “otherwise, we shall expose his questionable life as a priest to public glare.

Living in a glass house and throwing stone “He should learn the wisdom in the adage that he who lives in a glass house should not throw stones. He lacks the moral rectitude as a priest to talk to Fr Mbaka and we are ready to confront him with those facts if he doesn’t mind his language. “We are ready and determined to carry out a religious revolution in Nigeria if the stage-managed defamation and character assassination sponsored by enemies of the Holy Spirit in the

garb of clerics against Fr Mbaka persists. We have been silent because Fr Mbaka has been calming us down to protect the image of the Church in Enugu Diocese , but this time, we cannot continue to hold our peace for we believe that respect is reciprocal.”

Catholic secretariat reaction

A reaction through the SecretaryGeneral of the Catholic Secretariat of Nigeria,Abuja, Reverend Father Ralph Madu, said the posting was not meant to be punitive but a “normal church procedure.” According to him, “Mbaka’s transfer is not an exception; the Bishop has the right to post any priest wherever he feels his service would be more useful to the church. “If he (Mbaka) says it’s a punishment, then it’s open to further investigation. Posting is a regular thing, a priest can be transferred after two, three, four, or more years. It depends on the discretion of the Bishop. “That ministry (Adoration Ministry) is his private ministry. It does not belong to the church. Overseeing a parish is a full time job. Overseeing a ministry is a bigger task. If the church decides to take him somewherewherehe’llhavemoretimeto carry out his ministry, how is it punitive? That should not be the language.” Madu said Fr. Mbaka had done things that were unacceptable to the church in the past but received no punishments for them. He said: “He is supposed to be a missionary. What if the Bishop had closed down the ministry , which is within his power to do? Sometimes, transfers can be for the good of the priest as something can be going wrong which he might not be aware of. The Bishop is free to move any priest at any time. It is his prerogative.”

UNN tops in Nigeria, listed among world best universties

SUKKA—THE University of Nigeria, Nsukka, UNN, has been graded the best in the country and among the best 2,000 in the world in the latest Webometrics ranking released in January this year. The Webometrics University Ranking,whichprovidesindicatorsfor more than 12,000 universities in the world, is based on university web presence,visibilityandwebaccess.The

ranking system measures how strongly a university is present in the web by its own web domain, sub-pages, rich files and published scholarly articles. The rankingsystemispremisedonthebelief that web presence is a reliable indicator of the global performance and prestige of the universities and could serve as an indirect way to measure efficiency of universities in the performance of their

tripartitefunctionofteaching,researchand knowledge transfer. Acting Public Relations Officer, PRO of the UNN, Chief Okwun Omeaku made this known at Nsukka, saying that the improved rating of the institution was not unconnectedwiththeenhancedresearch efforts in the university following the ViceChancellor’sencouragementand financial reward system.

By Francis Igata

NUGU—OPERATIVES of the anti-kidnap Unit,Enugu Police Command have arrested two University undergraduates who have been at large, having allegedly masterminded the gruesome killing of a United States of America,USA, returnee, Mrs. Stella Uhuo on November 14, 2015 along Enugu-Abakaliki expressway. The suspects, James Okoh and Victor Uchenna Okefie both of whom have had acquaintance with the deceased, were at AkanuIbiam International Airport, Emene, Enugu to pick the returnee from USA on the behest of the deceased, and equally conveyed her with luggages to Abakaliki. It was gathered that the duo, final year Sociology students of the said University,from Amata in Afikpo Local Government Area of Ebonyi State conveyed the deceased in a Volvo with number plate LAGOS EKY 855 CY towards Abakaliki, but vied off to a lonely road at the middle of the journey. They were said to have ordered her out of the vehicle but the deceased offered resistance prompting them to allegedly pounce on her, beating her to death. Police Public Relations Officer,PPRO,Enugu Police Command, Mr. Ebere Amaraizu confirmed the arrest of the suspects to newsmen in a statement saying,”on noticing that the woman had given up the ghost, they (suspects) brought her to a dustbin located along EnuguAbakiliki expressway and dumped the corpse. “They quickly ransacked her luggages and made away with all the items contained therein including some dollars, male clothes and ipads among others. The suspects have been at large since committing the dastardly act until the operatives who had been on their trail recently nabbed Okoh on January 29, in his hostel at Ebonyi State while Okefie was trailed to his parents house at Ajaokuta in Kogi State on January 31,where he was nabbed. “They are now regretting their illicit act , pointing out that it was not their intention to kill the woman but to collect the valuables and escape.”

16 — Vanguard, MONDAY, FEBRUARY 15, 2016 Last week, Dr Joseph Odumodu, the Director General of the Standards Organisation of Nigeria (SON) called a media conference and alerted the public over what he termed the high volume of substandard steel products in the Nigerian market. According to him, this fact, which was unearthed by SON’s monitoring and enforcement task force units, indicated that manufacturers have started to “cut corners” on the standards required for steel products. He said SON had started to introduce measures to check the trend. What the Organisation discovered about steel products also affects a wide variety of other locally manufactured products as well as the imported ones. It is outrageous and unacceptable that the SON, which is empowered by law to regulate standards of maufactured products in Nigeria would be alerting the public on the

Questions for SON high incidence of substandard products in our markets, rather than taking proactive measures to ensure such products do not find their ways to the doorsteps of the consumer. The law that established SON (the SON Cap S.9 Laws of the Federation of Nigeria 2004) empowers the Standards Council to “designate, establish and approve standards in respect of metrology, materials, commodities, structures and processes for the certification of products in commerce and industry throughout Nigeria and to carry out any other functions imposed on it

under this Act or any other written law; power to make rules”. Within this law, SON is empowered under the SONCAP and MANCAP platform, to ensure that manufactured products within and outside Nigeria for use in Nigeria conform to the clearly spelt out Nigerian Institute of Standards (NIS) requirements. With such statutory powers at SON’s disposal, our questions: why should SON’s DG be reporting high volume of substandard products in the market? Why did it not take the proactive steps which the enabling law gave it to ensure that such prod-

ucts do not make it into the market? Doesn’t the SON’s DG realise that the alert he issued amounts to reporting to the public the ineptitude and ineffectiveness of SON under his watch? We view his promise to take measures to stop the trend as akin to shutting the stable after the horse had escaped. The high prevalence of substandard goods in Nigeria is all too evident. Low quality steel is chiefly responsible for frequent collapse of buildings and bridges and general poor quality of construction in Nigeria. It has led to the loss of many lives and property. The Federal Government should take another look at its regulatory agencies, such as SON and National Agency for Food and Drugs Administration and Control (NAFDAC) which seem no longer able to stem the flow of poor quality consumer goods into the country.

OPINION By Godwin Etakibuebu

HIS is the very first time, all through my life, that l would be travelling out of my country and staying away for more than three months in the name of holiday. But my children insisted that l needed it, and of course, at a time in one’s life, as l just started learning, one allows his/her own off-springs to dictate one’s way of going about his/her life. It is a great fun allowing them to have their way over you because sometimes, and this is factual, they see more than you, even about the welfare of your own life and many other things. That is if these children are properly brought up. That is just life! Thank God that l obeyed them in staying as long as they insisted; l would have missed a vital re-union with some old friends in the USA. Meeting these old reliable friends opened up the topic for this copy. There is always something new to discuss about Nigeria because, just like all other countries in the globe, Nigeria is never short of anything; the good, the bad, the very ugly, the real, the false, the funny and even, in most cases, the unfathomable and unbelievable. One of the reason l love Nigeria pathologically is for the fact that it is a country of everything goes, and it is never a stressful thing for us, because God created Nigerians with more than enough absorbing capacity for any type of shock under the sun. One of those unthinkable things that could easily happen in Nigeria was the 2016 budget presented to the National C M Y K

Mr. President, Yankees and smuggling

Assembly on 12th of December, 2015, by President Muhammadu Buhari,PMB, which was later to be reported missing from the same National Assembly. There were lots of confusion about what actually happened to the heavy document while search for it lasted. This dominated the discussion when two of my old journalists friends, one from New York, the other from Washington DC, visited me, in Houston. I’ll skip the details and go straight to the observation and question from one of them. “Godwin”, he called out, “this scenario looks more of someone smuggling the budget from the National Assembly for amendment”, he said authoritatively before throwing in the killer punch question. “Source and reason for such action could have only come from the same place the budget originated from – is your president a smuggler”? Wisdom, the Bible says, is profitable to direct. I did not answer whether my president was a smuggler or not. I assumed it was a rhetorical question. Yet, it gave me the enthusiasm to research more about the person of Mr. President, to ensure if there was anything in his past that could

A fall guy, in the person of Senator Ita Enang, was identified as responsible for bringing “different version from the one Mr. President

link him to the smuggling route mooted by my friend. This became a viable option because the way and means the “search and found” of the 2016 Budget was conducted, conformed to a pattern of smuggling. First, let us look through comments and statements of some personae dramatis in the saga as such will help us to know what actually happened. While the Upper Chamber,Senate admitted, cleverly though, that the budget was missing from its chamber, the Lower House, Representatives became economical with truth, pretending that the Budget was still there and intact. Senate President has this to say on the search for the budget. “We have received the report of the Committee on Ethics, Privileges and Public Petitions on investigations surrounding 2016 Appropriation Bill. Our finding is that Senator Ita Enang, the SSA to the President on National Assembly Matters, printed copies on the 2016 Appropriation Bill and brought to the Senate. We have discovered that what he brought is different from the version presented by Mr. President. We have resolved to consider only the version presented by Mr. President as soon as we receive soft copies of the original document from the Executive.” A fall guy, in the person of Senator Ita Enang, was identified as responsible for bringing “different version from the one Mr. President presented” (which must

have been the missing or stolen one) to the National Assembly. What he brought therefore was to replace the “original copy” submitted by Mr. President on December 12th 2015. It implied that he took the “original copy” of the budget away and replaced it with the “fake copy” (the replaced would always remain fake), and as long as “both the means of taking away and replacement” was not legal and official, the action became a smuggler’s route to smuggling. This is the totality of smuggling, both in theory and practise. Most importantly, for Sen. Enang to have succeeded in prosecution of this dangerous voyage (smuggling is a most delicate profession), there must be some coconspirators, collaborators and highlyplaced backers, both at the Presidency and the National Assembly whom he worked with – the facilitators of the action. Who are these people? We need to unmask these godfathers because my knowledge of both smuggling and smugglers tells me that they are somewhere there along the jurisdiction of concept (of crime at the Presidency) and commitment of same (at the National Assembly). If the Editor permits, l shall conclude this message next week and it is only after then that l will call my New York friend and give him a shocker [answer], to the question if either my President is a smuggler or not. *Mr. Etakibuebu, a veteran journalist, wrote from Lagos.

FEBRUARY 15, 2016

CBN, operators differ on ruling exchange rate It's parallel market rate — OPERATORS No, it's interbank rate — CBN By BABAJIDE KOMOLAFE, YINKA KOLAWOLE & NKIRUKA NNOROM

he Central Bank of Nigeria (CBN) and economic operators have disagreed on the exchange rate that governs business decisions and economic activities in the country. This disagreement was the highlight of the first TheCable Coloquium titled, “The Naira on Trial: To devalue or not”. While participants and panelists at the event unanimously agreed that economic activities are being priced at the parallel market exchange rate, which is N325 per dollar, the CBN disagreed, saying that it is the interbank exchange rate, which is currently N198 per dollar. The panelists included Managing Director/Chief Executive, Financial Derivatives, Mr. Bismarck Rewane; Deputy National President, Nigeria Labour Congress, Mr. Issa Aremu; a Director of Lagos Chamber of Commerce and Industry (LCCI), Dr Vincent Nwanem; Director, Monetary Policy Department, Central Bank of Nigeria (CBN) Mr. Moses Tule and Publisher/Chief Executive, BusinessDay, Mr. Frank Aigbogun, who acted as moderator. The event also featured a keynote address by Edo State Governor, Comrade Adams Oshiomole. When asked by the moderator, Mr. Aigbogun, which exchange rate they believe presently governs business decisions and economic activities in the country, Tule, who represented the CBN said that the official exchange rate while the other panelists disagreed, saying it is the parallel market exchange rate. Responding to the question, Tule

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said: “The exchange rate that governs business decisions in Nigeria today is the interbank rate. However those who want to access foreign exchange for the purpose of international travel cannot access it at the interbank market, because of shortage of foreign exchange in the economy they would rather go to the parallel market. And because it is easier to get foreign exchange in that market at whatever rate it looks as if it is the dominant market, whereas the source of foreign

Everybody in this hall knows that you cannot get dollar at the interbank market rate

exchange supply into that market is very small. But for industrialists they are getting what they need at the interbank market”. Rewane however said, “Everybody in this hall knows that you cannot get dollar at the interbank market rate. The reality is you can get the dollar at the parallel market at whatever rate.” Similarly, Vincent of LCCI insisted that it is not the official exchange rate but the parallel market rate that presently governs business decisions in the country. Governor Oshiomole however said that the reality is that the real value of a currency is not determined by the value of other currencies but the value of goods it can purchase. He said: “In my village the value of the

Continues on page 18

COLLOQUIUM: From left, Mr. Bismarck Rewane,CEO, Financial Derivatives;Mr. Frank Aigbogun;Founder/Publisher BusinessDay Newspaper; Comrade Adams Oshiomhole, Governor, Edo State and Comrade Issa Aremu, Deputy President,Nigeria Labour Congress (NLC) during TheCable's Colloquium on The Naira on Trial - To Devalue or Not?, a policy dialogue on the exchange rate held in Lagos on Thursday. PHOTO: AKEEM SALAU.

18 — Vanguard, MONDAY, FEBRUARY 15, 2016

Cover

Breaking the Nigerian Poverty Cycle through Entrepreneurial Revolution (2)

OPENING — From left: Managing Director, Deekay Group, Mr. Kavine Vaswani; Chief Executive Officer, Mediatek Ltd, Mr. Dotun Solanke; Head of Sales, Deekay Group, Mr. Augustine Christy and Head of Planning & Strategy, Mediatek, Ms Ifeoma Obi, during the opening of Nexus branch office, in Ibadan, Oyo State.

CBN, operators differ on ruling exchange rate Continues from page 17 naira has not changed. The price of garri, the price of dodo (fried plantain), the price of yam, the price of corn, has nothing to do with the exchange rate. Let us stop looking at the value of a currency in terms of other currencies but in terms of what it can purchase in the local economy."

Exclude more items from forex market

Earlier in his keynote address, Governor Oshiomole called on the CBN and the federal government to exclude more items from the foreign exchange market in order to save the naira from further depreciation. He said, “There is need to encourage the CBN to get more aggressive. As we speak, we have more than one million Nigeria kids going to school abroad consuming as much as half a billion dollars in school fees. Some of us are saying that our children can attend primary schools and secondary schools abroad and we have enough primary and secondary schools in Nigeria, even in Lagos, there are ones that pay as much as N300,000. So, we have good schools, but for the elite, it has become status symbol. If you must do that, I will suggest that CBN should not fund, don’t provide money for those who want to do that. There has been debate that let everybody who is in government ensure that his children are trained in the farm, one way to do that is to include school fees on the list of restricted items, so that if we want our children to have C M Y K

good education and nobody can afford it, all of us in political leadership will ensure that Nigeria universities are working. We have a lot of people going for medical treatment abroad, which is called medical tourism and it runs into millions of dollars a year, I will also submit that CBN should also include it on the list of restricted items so that if we can not afford it we will ensure that our hospitals function.

Devaluation will not curb importation

Oshiomole said that further devaluation will not solve the nation’s problem, especially the appetite for imported goods, which he argued is the real problem bedevilling the economy. Citing statistics on foreign trade, he noted that previous bouts of devaluations have not reduced importation of goods or increased exportation as canvassed by

There is need to encourage the CBN to get more aggressive. As we speak, we have more than one million Nigeria kids going to school abroad consuming as much as half a billion dollars in school fees.

proponents of devaluation, as imports have continued to increase despite devaluation of naira. He said, “More than that, the real critical question that settled this debate is, will devaluation curb our appetite for imported goods? The evidence with CBN shows that prices in the Nigerian economy do not curb the appetite for foreign goods. The last time the CBN devalued from N158 to N198 around 2014, as a matter of fact, our export actually declined by 34.1 per cent and our import increased by 2.9 per cent after that devaluation. Now, I can imagine the reason you have this abnormality and this brings us to the initial question. When human beings do not labour to earn, they do not spend rationally and because you have so much money in circulation at the time, this period also coincided with the period politicians were preparing for election and all the things that politicians have to do. If a lot of money is accruing to people like that, their spending can not be rational, so even if you devalue 300 per cent, it will not curb the appetite of the elite for imported goods, imported toothpicks , frozen chicken, and Brazilian hair. “Human behaviour has to be conditioned by government policies. If devaluation was an answer, from N1 to 1 dollar, we did not find the answer; from $1 to N8, we did not find the answer; by 1999, from $1 to N100, we did not get the answer. Soludo told us he was going to peg the naira at N125 to $1 and he rolled out economic statistics to support that. Some Nigerians Continues on page 19

hatcher’s radical policies, successfully adapted across the US, Europe and large parts of Asia, sparked off a new world order and confirmed the evolution of global economic powerhouses. For a uniquely placed country like Nigeria, blessed with resources but hexed with endemic problems, these events hold tremendous relevance and opportunity. They are also crucial to Nigeria making progress towards the United Nation’s Millennium Development Goals of eradicating hunger and poverty and improving environmental sustainability, among others. The first lesson for Nigeria of course is the need for fundamental changes in outlook and practices with regards to promoting entrepreneurship as a means to permanently overcoming poverty and achieving grassroots development. Of equivalent importance is upgrading infrastructure and improving access to social services, especially health and education. The World Bank outlines a three-pronged strategy for Nigeria to meet this challenge, which includes: Establishing a viable macroeconomic configuration that optimises incentives to the widest citizen base. Prioritising accountability as a means of encouraging entrepreneurship and the subsequent delivery of quality services to the population. Adapting policy and public expenditure conventions suitable to promoting efficient growth and enhanced productivity in a way that brings tangible benefits to the poor. Some of these suggestions have already been adopted. In 2003, the Nigerian government set up the National Economic Empowerment Development Strategy, in line with IMF poverty reduction policies, to achieve better fiscal management. The same year, fuel prices were deregulated and Abuja announced the privatisation of four national refineries. The current global economic downturn is certain to wreak further havoc on Nigeria’s fledgling and often floundering economy. What will determine the final outcome of its nascent entrepreneurial revolution, to borrow a statement from Apple honcho Steve Jobs, is the amount of perseverance is backs it up with. A viable economic agenda for Nigeria that allows rapid entrepreneurial progress has to focus on fundamental adjustments: Creating a pro-active socio-economic environment that encourages creative and viable entrepreneurship from the grassroots level to onwards. Identifying and correcting infrastructure deficits and systemic imbalance inimical to small business. Developing a credit regime – through relevant financial and industrial policy changes – that is sympathetic to small business realities. Promotion of lending through equity, and not debt, is of critical importance. Removing administrative and trade barriers while simultaneously enhancing technical support and capacity building assistance for both existing and emerging entrepreneurs. Mobilising the country’s significant human resources pool by revamping the education sector to provide vocational, administrative and skill development training to rural and urban youths. Creating efficient and effective mechanisms for regulation and oversight of enterprise-development initiatives in general, and microfinance institutions in particular. Maintaining political stability and authority of democratic institutions; fighting corruption and building social consensus on important issues to ensure broad-based success of macroeconomic policies. Low Interest rates in fact single digit interest rate. Law and Order and Rule of Law. Another important consideration to this discourse is the difference between policy and implementation, which can at least partly be viewed as the difference between developed and developing nations worldwide. The best policies come to naught unless adequately executed and them African continent provides a long list of such examples. Obsanjo’s edict on entrepreneurial studies could very well end up being the next one unless successive governments follow it through in both letter and spirit. To accomplish durable prosperity, Nigeria needs to exploit its tremendous economic potential with innovative governance, together with an ironclad shift against endemic corruption.

Vanguard, MONDAY, FEBRUARY 15, 2016 — 19

ero budgeting cannot be responsible for budget padding. It cannot be the reason for rats smuggling foreign provisions into the budget. It can not be the reason for double entry in allocation to ministries, departments and agencies of government. Those who prepare the budget have been around for many years. The DirectorGeneral, Budget Office of the Federation Dr.Bright Okogu holds a PhD in Economics from from the famous University of Oxford London in 1987. He is not a stranger to budgetting process and figures. It is unheard of in the history of Nigeria's budget circle and very shameful for the image of this administration that a serving minister will publicly disown the provisions made Earlier, the Senate had They are the ones who teach for his ministry. In the discovered a sum of N10 politicians how to steal the growing controversies billion “questionably nation blind while helping dogging President smuggled” into the budget of themselves to the national Muhammadu Buhari’s 2016 the Ministry of Education for cake. They live above their budget, Federal Ministry of an allegedly questionable means and the current war on Health disowned the budget subhead. corruption will not stop them. proposal submitted on its Sadly, a senior Presidency They may have vowed to behalf by the Ministry of official told PREMIUM frustrate the zero budget Budget and National TIMES that a “budget mafia” agenda. Just last week, the Planning. was responsible for the newly set up unit in the Health Minister, Prof. Isaac embarrassing allocations in Federal Ministry of Finance Adewole, who addressed the the budget. Mafia in Nigeria's disclosed that the Federal Senate Committee on Health budgeting process? Government spent N825 during its budget defense Somebody must answer for billion in three years on session, said the proposal this national disgrace and travels, maintenance, local drawn up by the ministry and international embarrassment. and international training, submitted to the budget office Is it not disgusting that BBC welfare and office stationery / had been doctored and that said that rats have smuggled computer consumables. The “foreign” appropriations, different from what was submitted, had been sneaked in. Somebody must answer for “We have to look into the details of the budget and rethis national disgrace and submit it to the committee,” he international embarrassment; said. “This was not what we submitted. We will submit is it not disgusting that BBC another one. We do not want said that rats have smuggled anything foreign to creep into foreign items into Nigeria’s that budget. What we submitted is not there.” 2016 budget? Adewole’s revelation is one of the several controversies and embarrassing disclosures trailing the 2016 budget proposed by head of the Efficiency unit set President Buhari. It is more foreign items into Nigeria’s up by the Ministry of Finance 2016 budget? What can be embarrassing considering to streamline government more disgraceful to a that this is APC-led overhead expenditure, Ms. government and a nation than government's first budget Patience Oniha, said that from this? which is supposed to be a the study of government Nigerian civil servants do budget to advance the cause overhead expenditure it not want any form of change. of change agenda in Nigeria. They want business as usual. carried out between 2012 and

Who doctored 2016 budget, mafia or rats? 2014; on the average, 60 per cent of Federal Government's overhead expenditure were incurred through local and international travels, maintenance, local and international training, welfare, office stationery and consumables, honourarium and sitting allowance, meals and refreshment and books. It is only in Nigeria that civil servants and other government functionaries travel on first class tickets. On weekends, these unpatriotic "evil" servants called civil servants, flock the streets of London, Paris, Amsterdam, Dubai etc. to spend their loots from government overhead budget provisions. According to Oniha, the Unit, which carried out an extensive and detailed review of the Overhead Expenditure data of the government for the period 2012 to 2014, found that the overhead spending pattern was concentrated on a limited number of items including travel, maintenance, local and international training, welfare and office stationery/ computer consumables. Oniha stated that “The Cumulative Expenditure on these five items was N825 billion, representing 61 percent of the Cumulative Total Overhead Expenditure of N1,353 billion for 2012 to 2014. This means that the

average amount expended annually on these five items during this period was N275 billion. The estimate for 2015 shows a continuation of this trend.” Overhead spending exceeded allocations to capital in all the years reviewed. It is not surprising then that some of these principal officers went out of their ways to pad up the budget to achieve their personal gains of milking the nation dry. Looking at how much was spent on international and local travels, welfare, stationary, consumer consumables, meals, entertainment and others, a rational Nigerian would be forced to ask whether these are key drivers of an economy struggling to grow. Are these government officials not paid salaries and allowances? Why should so much be spent on meals, tea, and other nonessentials when the economy is begging for infrastructural development? Does it occur to Nigerians that in each year, from 2012 to 2014, Nigeria as a country, spent about 60 per cent of its recurrent expenditure on overhead expenses on these five nonessential items? Certainly, this kind of expenditure profile cannot and will not enable the nation diversify and cannot move the economy forward. Budgets are meant to support goods and services and reflect government's priority in terms of areas that need to be improved upon. Mr. President, if it is true that mafia or rats doctored the 2016 budget, please find the mafia and kill the rats.

Cover Continued from page 18 said yes, some said no, ‘ we can not have that.’ Nigeria has not been delivered.May things went wrong such that we had more dollars in circulation than the naira. For some of us in politics, you want money to pay your agent, the bank tells you ‘sorry there is cashless policy’ but this cashless policy did not affect the availability of raw dollars in the pocket of Nigerians.

Investment bankers prosecuting Naira

Oshiomole noted that the current agitation for devaluation of the naira is C M Y K

CBN, operators differ on reigning exchange rate been spearheaded by investment bankers, who thrive on currency manipulation and speculations. He said, “Rather than the government, as it used to be in the past, indicating its intention to devalue, it is a section of the people that are behind this agitation. Who are these people? The investment bankers who want to trade on bonds and other commercial papers. They don’t want any interference. You can use visas to restrict and regulate the movement of

human beings but CBN must not use any instrument to regulate the movement of dollars in or out of the country. Because if you do that you are interfering with their calculations and projections, and the business of speculations becomes less attractive. So I will submit that those who are prosecuting the naira are investment bankers, those who make money by just playing on exchange rates. And they can trigger speculations and can harass you to take panicky decisions. So for me, as I understand it, these are those who are

prosecuting the local currency and the naira is indeed on trial. They are the ones demanding that currency should be devalued and that CBN should not entertain any intervention.”

No pain, no gain

“What we require is a President with clear determination to compel all of us to begin to think again, to maintain our position and to reconcile it with current reality. Those who live on speculation, we have no business supporting them. For people to take our policies

serious, I think we have as a matter of general attitude move away from a regime in which we make policies in the morning and reverse it in the evening. “CBN has come up with 41 items that are not qualified for foreign exchange at the official window, but I think that number should even be increased. We have no business importing rice. When you look at import base in Nigeria, how can we spend so much on agriculture and yet we are importing so much. So, for me, I support the effort Continues on page 22

20 — Vanguard, MONDAY, FEBRUARY 15, 2016

Business & Economy Firm decries multiple taxation by LASG By BOSE ADELAJA

n Abeokuta-based firm Mushilab Nigeria Limited, has decried what it described as extortion, illegal and multiple taxation by Lagos State government on federal highways most especially Lagos/Ibadan expressway. According to the firm, the state government has allegedly contravened the order which restricts every state or local government from collection of levies on the road. A statement signed by the company Operations Manager Mutiu Taiwo, says despite all efforts made by the Joint Tax Board to stop illegal tolls and multiple taxation on individuals and corporate bodies, the Ministry of Energy and Mineral resources under the Lagos State Government has numerous illegal toll collection centres most especially on the federal highways. Mushilab a haulage firm said recently, one of its trucks with number plate SRA 514 XA was illegimately impounded by Lagos State Task Force at Berger axis of Lagos/Ibadan expressway but taken to Ikorodu. The firm said the step by the state government has contravened the resolution made by the Joint Tax Board on the 22nd October, 2013 which expressly condemned and prohibits the use of individuals or organizations other than the Board of Internal Revenue Service (BIRS) to collect approved taxes. Also, it said the government representatives allegedly make use of miscreants who forcefully extort money from haulage drivers through the use of sticks and dangerous objects to stop haulage vehicles to pay levies on taxable items like granite and any other items. Mutiu said in most cases, the Energy ministry allegedly engage the Nigeria Police Force under the Lagos State Environmental and Special Offences (Task Force) to perpetrate the unlawful acts, ‘’as we all know, ‘’ the Nigerian Police Force is one of the stakeholders that constitute the laws banning illegal road blocks.

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Sonia Foods invests N2.4bn in tomato production … Expands production line BY PRINCEWILL EKWUJURU

onia Foods Industries Limited, a wholly owned Nigerian company, manufacturer of Sonia Tomato Paste has made major investment of $8million amounting to N2.4billion if calculated on present exchange rate in its Ogun State factory plant as part of ongoing plan to meet growing demand for its products. The Group managing Director/ Chief Executive Officer of Sonia, Mr. Nnamdi Nnodebe, while speaking on the development said the project, valued at more than $8 million, will create more jobs, likewise enhance the product quality of its flagship product, Sonia Tomato Paste and its entire product chain, comprising of Sonia seasoning cube and Sonia baking powder. While saying that the investment has increased its production capacity by installation of additional machineries for production of tomato paste in tins of various sizes (400g, 210g, and 70g). The production capacity of this additional machine would now be 7MT/HR for each size. He also said, “in line with our expansion drive, and the commitment to utmost value, we intend to vertically integrate backwards. We are in the process of building an ultramodern factory and farm in some States that would have the capacity of producing the tomato concentrate. Our estimate is that the said production would commence and be completed within 36 months from February 2016.” “We are glad to invest in our Shagamu plant, which will mean more jobs for the city. Since commencing operations 5 years ago with a simple ethos: to improve the lives of people with quality products. That ethos has never changed, and

delivering excellent service is still right at the top of our priorities.”. Continuing, “Our customers are very important to us – and we want them to feel that way.

We work hard to ensure that every customer has a great tasty experience with Sonia Tomato Paste and our other products. For us, at Sonia, customer satisfaction is paramount, that is why we are wholeheartedly

committed to giving consumers that value with our products. Also speaking, the Asst General Manager, Operations, Mr. China Okere, “prioritising customers and giving them 100 percent value is what we pay particular attention to. That is why we embarked on this investment drive so as to further enhance premium quality of our canned tomatoes and tomato-based products”.

LAUNCH — From left, Asawo Ibifuro, Managing Director, Cinfores; Julie Eno, ASUS Product Head and Emomine Mukoro, Managing Director, both of Coscharis Technologies at the Coscharis Edu-Mobile Launch organised by Coscharis Technologies in Lagos.

3Invest tackles funding challenge in real estate investment By KINGSLEY ADEGBOYE

gainst the backdrop of the vision to deliver excellent investor value, 3Invest Limited, a real estate investment advocacy company, is set to host developers and investors as part of plans to kick-start its innovative model Real Estate Investor Network (REIN). REIN is a nexus of real estate investors with the mission to kick start real estate investment, grow their portfolio and find real estate deals to create valuable and sustainable wealth. 3Invest

launched REIN in 2013 with a view to closing the funding gap in quality real estate investments and connecting investors with developers for secure business transactions. The event, scheduled to hold on March 2, 2016 in Lagos, promises to be an exciting networking enterprise and a rewarding informationgathering platform, as it would help developers to pitch investment portfolios to individuals and organisations. REIN, which has recorded over 150-membership base in 2016, will also enable real estate investors to kick-start

their investments and seal real estate deals in order to create sustainable wealth. Managing Director of 3Invest Limited, Ruth Obih, said plans are in top gear for the REIN Investor Forum which, she said, was conceived as a revolutionary model to secure real estate investment and to bridge the information gap for investors. “The primary cause of investment failure in the real estate industry is that the investor goes into a negative cash flow for a period of time that is not sustainable, often forcing them to resell the property at a loss.

Guinness water project to benefit four rural communities

our rural communities in Cross River state are to benefit from the N32million Diageo Guinness Nigeria Plc water project in partnership with Concern Universal, Oxfam and Water Aid Nigeria, as it targets 70 percent of communities ion sanitation. The four communities, Abi, Bekwarara, and Obaluku Local Government Areas and Benue state community are to be provided with 20 boreholes in a program tagged: Safe Water and Improved Sanitation and Hygiene, SWISH, phase 2

program. The program will see Guinness contribute N23.5 million to boost construction of 20 boreholes in the communities which will invariably provide 20,000 persons with year round access to safe drinking water, said Managing Director of Guinness Nigeria, Mr. Peter Ndegwa , at a press briefing in its Lagos office. The Managing Director also said that Guinness has a longstanding commitment to initiatives that provide clean

drinking water for Nigerians. “Water like we know, is a resource that absolutely crucial to all forms of life. But unfortunately, this vital resource is not accessible to all. In 2015, the World Economic Forum, WEF, published its global risk report, which ranks water crises first among the risks of highest concern for global growth. This conclusion is indeed justified as one in five people around the world cannot access safe drinking water, he stated. He went on to quote Water

Aid report saying, “63million people in Nigeria do not have access to clean and safe water, over 112 million Nigerians also do not have access to adequate sanitation-that’s two third of the population. The scarcity of clean water in Nigeria has fuelled the spread of deadly, easily preventable diseases such as diarrhoea, cholera and typhoid, for these reasons the company is partnering with the agencies to provide clean and safe water for the Nigeria communities.”

Vanguard, MONDAY, FEBRUARY 15, 2016 — 21

Seminar Report

Procter & Gamble holds symposium ...spends $2bn on R&D

RCCG Victory Chapel holds Economic Summit

By EBELE ORAKPO Innovate or Die -Peter Drucker

harles Darwin of Origin of Species fame once said that 'it is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.' This seems to be the driving force behind Procter & Gamble (P&G) Nigeria, a fast-moving consumer goods company. To underscore this point, P&G, at the weekend, held a two-day annual symposium tagged: Chemical Sciences and Technology Enabling Growth in Africa, in partnership with the Royal Society of Chemistry (RSC). In his opening remarks, the Managing Director of P&G Nigeria, George Nassar, said innovation is one of P&G’s and by extension, Nigeria’s most vital methods for growth and development. “P&G’s strides towards innovation have been recognised globally and in Africa, through industry accolades and awards. He said: "But it is the millions of African consumers that choose us every day that is our biggest source of pride." He added that the company spends about US$2 billion annually on research and development which has helped them to stay on top of their game. The symposium brought together leading academics, thought leaders and industry members to discuss the critical issues of development in technology in order to promote growth through research and technology transfer in Africa. It was aimed at engaging local entrepreneurs and providing a platform for cross-sharing and learning to help foster knowledge and build skills in research and publishing while also empowering African students through opportunities such as internships. Speaking at the event, the Director-General of the National Office for Technology Acquisition and Promotion (NOTAP), Dr. Ibrahim DanAzumi expressed his pleasure, saying; “this forum serves as an incredible opportunity for thought leaders and technology experts to exchange knowledge and talent. “One of NOTAP’s long standing assignments is to promote a culture of intellectual property knowledge in Nigerian universities. This will help to increase the value of our C M Y K

SYMPOSIUM — From left, Ken Robinson, Chief Audit Executive & VP, Global Diversity, Procter & Gamble; Dr. Ibrahim Mohammed Dan-Azumi, Director-General, National Office for Technology Acquisition and Promotion; George Nassar, Managing Director, P&G Nigeria and Prof. Familoni representative of the Pan-African Chemistry Network at the P&G-RSC Symposium Thursday at the Eko Hotel, Lagos. Nigerian research and the development of intellectual property and technology transfer by setting up offices that will harness the competencies of researchers in Nigerian universities. "This will further assist in translating Research & Development into tangible products and innovative services; and trainings and capability building discussions like this, will help to strengthen this effort.” Developing local talent: The International Development Manager at the Royal Society of Chemistry, Stuart Govan, noted that the objective of RSC is to help empower Africa’s future

This is a great opportunity for African scientists to partner with each other, government agencies, investors etc., to develop effective models for translating Africa's natural resources into sustainable economic growth

leaders to increase engagement in the science and technology fields. He said: “Building strong strategic partnerships with companies such as P&G allows us to collaborate and work on actually empowering these students - and thus, our collective future.” In line with P&G’s commitment to develop local talent and leverage local expertise, the company, in partnership with NOTAP announced that they will be offering two lucky students scholarships to run their PhD programme. "These students will work in partnership with the P&G Research & Development team on research projects of interest for P&G Nigeria and sub-Saharan countries. "In previous years, P&G has partnered with academic organisations in Nigeria to foster scientific education. In 2013, P&G, via the Pan-Africa Chemistry Network, set up a research facility at the University of Lagos, and has been hiring young science graduates as interns to work on research projects,"said Nassar. Looking inward: In his contribution, Dr. Ike Ononye of the University of Cincinnati, USA and a retired staff of P&G, said it is a sad commentary on Africa that a continent endowed with so much natural resources, still grapples with unimaginable level of poverty. "With the slowing down of global economy, attention is now turning to Africa as the

new engine for global economic growth. This is a great opportunity for African scientists, particularly chemists, to take leadership in partnering with each other, government agencies, investors and multinational companies to develop effective models for translating the natural resources in Africa into sustainable economic growth for Africa. He noted that research and development consciously tailored towards tapping and developing Africa’s huge natural resources, is the answer otherwise, the youths will keep migrating with some ending up in the Mediterranean Sea. Growth of P & G: Nassar stated that aside from P&G’s dedication to driving innovation in sub-Saharan Africa, the company also focuses on human capital development. "P&G’s strategy for establishing innovations in the science field include its investment in strategic manufacturing hubs across the continent. The company's capital investments in subSaharan Africa are set to increase over the next five years through the expansion of existing facilities and manufacturing plants in South Africa and Nigeria. This investment is expected to result in creation of thousands of employment and business opportunities within the continent," said Nassar. He noted that their Agbara site is the biggest non-oil US investment in Nigeria.

n its quest for a continued socioeconomic/spiritual development of its members and as another pedestal for its corporate spiritual responsibility to its host community, The Redeemed Christian Church of God, Victory Chapel, Lagos Province 21 headquarters, Magodo GRA Phase 11, Lagos has put together a 1 day economic summit with the theme :” Thriving in a Period of Economic Uncertainty” taking place on Saturday February 20,2016 at the church auditorium, According to the organiser, Bisi Olowoyo, some of the major issues to discuss at the summit amongst others include: tax revenue and you to feature Tunde Fowler, Chairman, Federal Board of Inland Revenue, Folarin Ogunsanwo, Chairman Lagos State Board of Inland R e v e n u e , A l b e r t Folorunsho,CEO Pedabo and Taiwo Oyedele, Head of tax Services at PWC Partners. The summit will feature presentations such as: Changes in Business Models to be discussed by Tonye Cole, Co-founder and Managing Director,Sahara Group, Hakeem Ogunniran, CEO UACN Property Development Company Plc, Dolapo Oni, Head Energy Research,Ecobank Nigeria and Gbenga Sesan Executive Director, Paradigm Initiative Nigeria; Foreign Exchange Trade and Commerce will feature Opeyemi Agbaje, CEO RTC Advisory, Muda Yusuf, Director General LCCI, George Onafowokan, CEO Coleman Wires and Remi Ogunmefun,Director General, Manufactureres Association of Nigeria; Sourcing of Funds for Industries and MSME will be discussed by Obaro Osah, Head SME Group, Bank of Industry,Oladimeji Owofemi, President Cocoa Producers Association of Nigeria, Abiola lawal, CEO Exequte Partners Inc, Ijeoma Rita obu, Managing Consultant/ CEO Clement Ashley Consulting and Ayodele Olojede, Head Small Business Group, Skye Bank Plc. The keynote address will be delivered by Dr. Temitope Oshikoya, CEO Nextnomics and Dean, NESG Faculty of Economics.

22 — Vanguard, MONDAY, FEBRUARY 15, 2016

Cover Continued from page 19 of the CBN and Mr. President that even these items be included; Who amongst us wants us to continue to import toothpick, tomato puree and all of those stuffs we can easily produce here, including textiles materials? So, we need a determined state that gives clear signal and that is why we stand by statement by the President, ‘I will not devalue, it is very important.’ “The truth is that there are a lot of people waiting, hoping that these things will change. They are not going to change because when Mr. President speaks, he does the thinking before speaking. So, he is not going to reverse it; let people reconcile themselves with the reality. What I want us to also appreciate is the fact that we are not dealing just with real demand of goods and services; a lot of money that was stolen for election purposes was converted to dollars if you follow the narratives in the Newspapers, all of that translates to demand and pressure on Naira, so this is artificial. It is speculation and accruals of corruption from rent and therefore they are not result of legitimate economic transactions and therefore public policy cannot be formed by that corrupt practices. I want Nigerians to appreciate that no pain, no gain. We have a new government and he has come out with new policies, we should support the government and watch to see how things play out.” NLC demands N48,000 minimum wage In his own contributions, Deputy National President, Nigeria Labour Congress (NLC), Comrade Issa Aremu, warned against further devaluation, saying that previous devaluation has eroded the value of the minimum wage. He said, “The last time we signed the minimum wage, which is N18,000, and is the current rate, and this was between 2009 and 2010, this translated to $124 . But now on account of depreciation alone, this $124 minimum wage figure has dropped to less than $60. So wages have been completely eroded on account of devaluation. So in nominal terms, if we are talking just on account of the exchange rate, the minimum wage which is currently N18,000 should be about N48,000. And I am leaving this warning, if you dare devalue again, be sure that labour will also have to hike its own price in the market. That is just clear cut. That is why NLC is prepared C M Y K

RECERTIFICATION — From left: Executive Director, Information Technology and Service Delivery Channels, Skye Bank Plc, Mrs. Markie Idowu; Lead ISO Auditor 27001 and Clients Manager, BSI Dubai, Mr. Saroj Patel; Deputy Managing Director, Skye Bank Plc, Mrs Amaka Onwughalu; and Lead ISO Auditor 20000, ISO 22301 at BSI Dubai, Mr. Vikas Mulkultar, during the International Standards Organisation (ISO) re certification of Skye Bank Plc

CBN, operators differ on ruling exchange rate to submit our new proposal for minimum wage increase. This will be done, whether through battle, through struggle, we will get that result, because the money that is not paid to the people, we have seen, will be stolen.”

Forex restrictions threaten 80,000 jobs

Meanwhile the Lagos Chamber of Commerce and Industry (LCCI) in its contribution warned that the current foreign exchange restrictions especially the exclusion of 41 items from the foreign exchange market might lead to loss of 80,000 jobs in the manufacturing sector. This he said was due to inability of manufacturers to access foreign exchange even for items not excluded. Speaking on behalf of the Chamber at TheCable Colloquium, Dr Vincent Nwanem, said, “Is the high rate an issue for manufacturers? No, the major issue now is access. Even the goods that are not listed in the 41 items, our members cannot even fund dollars to fund them. I can tell you that about 80,000 jobs are at risk in the manufacturing sector.”

We need a

forex policy

On his part, Managing Director/Chief Executive, Financial Derivatives Company Limited, Mr. Bismarck Rewane, said that the issue is not the exchange rate of the naira but the absence of a process of determining the exchange rate. He said, “The discussion should shift from whether to devalue or not to devalue to what are the implications of an absence of an exchange rate policy. The exchange rate is a number, it is like a multiple choice question, the answer can be N250, N190 and even by the time you finish that rate is already into disequilibrium. So the debate is, do you have an exchange

In 2008 there were people who moved money out of this country in anticipation of devaluation only to bring it back to make a killing

rate policy, and if you don’t have one, what are the consequences “In this country, 10 to 15 years ago, you had Western Union, you had Moneygram. These people were bringing money into Nigeria. Nigerians in Diaspora had about $21 billion earnings every year, which can come in. Why are they not bringing it this year? The CBN tells us they have disbursed over $8 billion to BDCs in the last two years, who are the BDCs? If I am a manufacturer and you give me money to bring in goods manufacture today, I have two options. Bringing the goods ate N199, manufacture it and sell it in the market at N199 or price those goods at N303 because the current price is already factored into it. Or brings the money in rather than bring in raw materials, I open an LC and bring in nothing, go across the road and sell the dollars which I bought at N199, at N300 and hence make a 50 per cent gain. I do not have to employ anybody. That is what is happening. “Presently there are certain people who are bragging that they can bribe people in certain agencies in Nigeria and get approval. So there is no certainty as to whether

when you apply for foreign exchange, when you will get it. The system is being abused by corrupt people and some of the people sitting here today are saying they want the policy to remain the same so that they can continue to abuse and steal the money under the guise that they are protecting the currency. “In 2008 there were people who moved money out of this country in anticipation of devaluation only to bring it back to make a killing. So the devaluation debate is not as apolitical as people want to believe, there are vested interest in keeping the currency at one side of the other and they would pretend under any guise to say they are saving Nigeria. “The narrative is not about patriotism but about competitiveness. Whether you like it or not you will have to provide currency in an import dependent economy. So the issue here is currency flexibility. In the end, we have to two options. Do something and have a policy or do nothing. If you do nothing, the outcome will be palaver. The second option, if you do something, the outcome will be like R Kelly sang, the storm is over.”

Vanguard, MONDAY, FEBRUARY 15, 2016 — 23

Banking & Finance

Forex: German investors seek guarantee on profit repatriation Stories by BABAJIDE KOMOLAFE

ERMAN investors in the country have sought guarantees from the Central Bank of Nigeria (CBN) on availability of foreign exchange to repatriate profits out country. This was one of the highlights of a meeting between CBN Governor, Mr. Godwin Emefiele and a German Business led by Vice Minister and Member of Parliament, Mr Uwe Beckmeyer of German Federal Ministry for Economic Affairs and Energy in Abuja last week. Mr. Beckmeyer said that the essence of the visit was to familiarize themselves with developments in the Nigeria’s financial sector and to devise means of articulating business relationship between the German business firms and the their Nigerian counterparts. He reiterated that members of his team with interest in such areas as power generation, light machines for Small and Medium Enterprises were having some challenges in sourcing inputs for their production as well as the issue of double taxation. He pleaded that German companies doing business in Nigeria would

appreciate to be assured of the certainty in areas of currency control as it affects profit remittances. In his response, Governor, CBN, Mr. Mr. Godwin Emefiele assured that that Nigeria will continue to meet matured financial obligations to foreign investors and her international trading partners. He reminded the visitors that Nigeria has been going through economic crisis, due

mainly to shocks arising from failing global oil prices resulting to severe shortfall in foreign exchange revenue. The CBN Governor told the visitors that given the development, the country is left with no option than to diversify the production base of the Nigerian economy and to curtail frivolous importation. He craved for the understanding of the visiting team regarding the policies put

in place in order to conserve foreign exchange and assured them of CBN’s effort to meet their demands within the available forex resources. Other members of the German Business Delegation were Mr. Martin Andrae of Voith Hydro Holding GmbH & Co. KG, Mr. Guenther Mull, CEO of Dermalog Identification Systems GmbH among others. Also with the CBN Governor to receive the delegation, were the Deputy Governors, Economic Policy, Corporate Services, and Financial System Stability, Dr. (Mrs) Sarah Alade, Mr. Adebayo Adelabu and Dr. Okwu J. Nnanna respectively.

PRESENTATION — MD/CE Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim (centre), flanked by Executive Director Operations, Prince Aghatise Erediauwa (right) and Director Finance, Ms. Diana Okonta (left) making a presentation during NDIC’s 2016 Budget defence session before the House Committee on Insurance and Actuarial Matters.

CBN aiding exploitation of bank customers — CAFON Calls for 'No Banking Day' to protest charges

onsumer Advocacy Foundation of Nigeria (CAFON) has accused the Central Bank of Nigeria (CBN) of aiding banks to exploit bank customers. Meanwhile the group has called for a No Banking Day, on March 1st, when bank customers will shun all banking services to protest excessive bank charges. These were contained in a petition signed by the President of CAFON, Sola Salako and made available to Vanguard over the weekend. The petition was addressed to bank customers was titled, March 1st is ‘No Banking Day’ against excessive charges. The petition stated, “Dear Nigerian Banks Consumers for many years now, consumers of banking services have been subject to series of poor and unsatisfactory transaction and relationship terms. “We have endured excessive charges, illegal fees and unfair contracts that only protect the bank but does not

protect the consumers. Banks debit our accounts at will for charges we never agreed to or were not aware of; they charge us for every little service; we pay for getting our statements; introduction letters; and now, some banks are charging N200 for the use of deposit and transfer forms! “Under the current CBN management, abolished fees are being reintroduced. ATM withdrawals that were free now cost N65 on 3rd withdrawals. We pay N1000 for debit card issuance and renewals; we pay N105 for every online transfer; and they still charge N105 as Annual Debit Card Maintenance and now, a new Stamp Duty charge of N50 on every credit of over N1000 has just been introduced. COT that was supposed to end finally in 2016 is now being reintroduced as 1% of every withdrawal purportedly as Monthly Current Account Maintenance Fees! This is unacceptable! “The fact is,

Consumers are being exploited by all the banks and CBN is aiding and encouraging these exploitations. We cannot continue to endure these exploitations! That is why Consumer Advocacy Foundation of Nigeria CAFON, a consumer rights NGO is calling consumers to join us in protest of Banking Exploitation by declaring Tuesday, March 1, 2016 as NO BANKING DAY! "Our Demands are: We want bank charges reviewed downwards; Banks must clear fees with consumers before debiting our accounts; Bank forms and contracts must be reviewed to include more protection for consumers; Consumer complaints must be resolved promptly and satisfactorily; CBN must review the new Stamp Duty Charge, Account Maintenance Charge and Debit Card Maintenance Fees. “We urge all consumers to boycott all banking services

in protest of these excessive charges and policies. That means on Tuesday March 1, 1. Don’t visit any bank or branches to transact any business 2. Don’t use your ATM from 12a.m -12 midnight on March 1 3. Don’t log in to any of your accounts online and don’t do any transfers from 12am-12 midnight 4. Don’t make any online payments from 12am12 midnight 5. Don’t issue any cheques or banking instruments dated March 1, 2016 6. “Avoid doing any financial transactions on March 1 but if you must, avoid the banks! We can all commit to observe a No Banking Day Protest to press home our demands. After all, if we don’t patronize them, they can’t be in business."Please sign this petition if you agree to join the protest and share with your friends and family until we have mass awareness so everyone can observe the No Banking Day Protest. It is not right, so let’s use our Rights!”

Lottery Commission pledges greater role in generating funds for FG By FUNMI OLASUPO

N the face of the w i n d l i n g oil price, the National Lottery Regulatory Commission (NLRC) has pledged to play a more pronounced and significant role in contributing to the revenue of the Federal Government. Director-General of the Commission Mr. Adolphus Ekpe who made the pledge in Abuja, explained that the Commission determined to take such action because of the federal government total dependence on crude oil as the country’s only source of income. Ekpe maintained that steps had been taken to monitor and regulate lottery operators in the country in such a way that more money would be generated into the coffers of the government. He stressed that it is high time the country move beyond depending on oil and diversify into other areas that could bring money for the development of the country. “I believe that lottery has to play a more pronounced and significant role in contributing to the revenue of the federal government and my prayer is that the steps we are taking to monitor and regulate should actually yield the desired results.” “We expect to play a greater role because the economy should be able to move forward outside the crude oil, yet, Lottery deals with human beings and the purchasing power simply because lottery could be played for two reasons, One is for the income; the other one is like a civic responsibility. The DG also charged staff of the agency to rededicate themselves and as well think outside the box through innovation with ways to get more revenue for the country. He also stressed that the commission was working hard to ensure it comes up with strategy that would enable lottery to be socially and religiously acceptable in the country. d

24 — Vanguard, MONDAY, FEBRUARY 15, 2016

Corporate Finance

Economics students renew interest in CIS programme

he Economics students under the aegis of the Economics Students Association of Nigeria have passed a vote of confidence on the Chartered Institute of Stockbrokers (CIS ) on its dynamic courses in finance, securities and investment , designed to empower youths. Besides, the students who recently held a conference, hosted by the Economics Department of Obafemi Awolowo University, Ile Ife, Osun State expressed optimism that they would ultimately make careers in the financial market. Speaking at the recent conference which focused on career talk, the Staff Adviser, Economics Department , OAU Chapter, Dr. Oluwole Aiyegbusi explained that the economics students have been exposed to the opportunities and challenges that abound in the capital market by virtue of their academic background. Aiyegbusi announced that economics departments all over the country were already working out modalities by which economics students can benefit from the array of courses introduced by the CIS to assist the youths in order to make career in the finance and securities market.

Moneygram, Walmart announce new three-year agreement

oneyGram has announced a new threeyear extension to its more than 17year relationship with Walmart. This new three-year agreement, which began on February 1, 2016 continues MoneyGram’s domestic and international money transfer service as well as its bill pay and money order products at Walmart’s more than 4,000 locations in the U.S. and Puerto Rico. Walmart customers can also continue to access MoneyGram services through Walmart.com to send and receive money. “We are extremely pleased to extend our relationship with Walmart for an additional three years,” said Alex Holmes, MoneyGram CEO. “For nearly two decades now, MoneyGram and Walmart have worked side by side to make money transfers and other financial services affordable and convenient for our customers.” “Leveraging our size and scale to take on big challenges and create better ways to serve our customers is something we’re always working on. MoneyGram is a great provider in helping us deliver results that matter to our customers, offering innovative products and services that help them better manage their finances for less,” said Kirsty Ward, Walmart Senior Director, U.S. Financial Services. C M Y K

Nigeria to commence 24 hours trading settlement cycle •Investors to receive dividends within 24hrs

By PETER EGWUATU & PROVIDENCE OBUH

or the first time in the history of any capital market in Africa, Nigeria is set to commence 24 hours trading settlement circle, even as investors in the Nigerian Capital market are now to get dividend payment within 24 hours through the e-Dividend Payment Platform.

Director General of Securities and Exchange Commission (SEC) Mounir Gwarzo made this disclosure at the e-Dividend Sensitisation Town Hall Meeting in Lagos. According to him, the proposed system will automatically allow dividends to be credited directly into shareholders’ accounts within 24 hours of payment by the company. Gwarzo stated that this was one

of the initiatives being implemented by the commission as part of its 10 year Capital Market Master Plan to encourage retail investors to return to the market and thereby deepen the market. According to him “One of our strategies is to target the retail investor, the only way we can deepen the market and ensure that the market is within our own grip is to ensure that the retail investor

AWARD — From left, Tope Asiwaju, Group Public Relations and Event Manager, Dufil Prima Foods Plc; Adepeju Ajayi, one of the scholarship recipients from Federal University of Agriculture, Abeokuta (UNAAB); Amber Yadav, Brand manager, Dufil Prima Foods plc, and Tunde Oguntona, Professor of Nutrition and Coordinator, Dufil MSC Nutrition and Dietary Scholarship Award during the presentation of cheques at the Dufil Prima Foods head office in Lagos.

comes into the market. It is only the domestic investor that no matter the condition of the market, will stay with us, what we have been experiencing in the market is the dominance of the foreign investor where anytime they want to move out of the market they get out and anything they want to come in they do so. Seeing what happens in the market, we decided that the best thing it to get the retail investor and our approach is not to go to them and be telling them to come back. “But our approach is to identify the issues why they are not in the market and deal with such issues. If you meet any retail investor, he is going to complain about not getting his dividend. So how do we address some of these issues and that brought about the issue of Road Show where we meet the retail investors one on one and tell them why they need to key into the e-dividend. It has been quite successful so far”. “We have achieved something that is very unique, even South Africa they have t+5, where when you do transactions you cannot get payment until five days. But with this system, we are going to achieve t+1 settlement system. You sell shares by today, payment are effected within 24 hours which is going to be the first capital Market in Africa. No market in Africa has experienced that before and we are determined to ensure that it is achieved. In his remarks, the Executive Director Market Operations and Technologies of the Nigeria Stock Exchange (NSE), Ade Bajomo commended SEC in its quest to ensure that every Nigerian that invests in the market gets what is due them in good time.

NB proposes N4.80 dividend, records 10.3% increase in revenue By PETER EGWUATU

he Board of Directors of Nigerian Breweries, NB Plc has announced a 10.3 per cent increase in revenue from N266 billion recorded in 2014 to N293 billion in the 2015 financial year.

The 2015 audited results filed with The Nigerian Stock Exchange, NSE show that the company’s shareholders would enjoy a total dividend of N4.80 (Four Naira Eighty Kobo) per ordinary share of fifty kobo each for the 2015 financial year. If approved by shareholders at the upcoming

Annual General Meeting, the amount would be the highest dividend ever paid by the company in its 70 year history. The company had earlier paid an interim dividend of N9.5 billion that is, N1.20 (one naira twenty kobo). Thus, the final dividend will be N28.5 billion that

GTBank announces expiration, final tender results of $500m offer

uaranty Trust Bank, GTBank Plc has announced the expiration and final tender results of the any and all cash tender offer (the “Tender Offer” or “Offer”) with respect to the U.S.$500,000,000 7.50 per cent. Notes due 2016 (the “Securities”), which securities were issued by its wholly owned subsidiary – GTB Finance B.V. (the “Offeror”) – and unconditionally and irrevocably guaranteed by the Bank. As the expiration deadline for the Tender Offer was February 10, 2016, the deadline for tendering the Securities under the Offer has now passed. An aggregate principal amount of U.S.$ 126,586,000 of the Securities that were validly tendered on or prior to the Expiration Deadline and not validly withdrawn were accepted. No Securities were tendered through the guaranteed delivery procedures described in the Tender Offer Memorandum dated February 4, 2016 (the “Tender Offer Memorandum”). The Settlement Date for the

Tender Offer is February 16, 2016. The Tender Offer is consistent with GTBank’s liability management strategy and reflects the Bank’s ongoing efforts to enhance the efficiency of its funding and capital structure as it seeks to reduce its overall funding costs. Subject to applicable law, the Offeror or any of its affiliates may at any time and from time to time following completion of the Offer, purchase the remaining outstanding Securities by tender, in the open market, by private agreement or otherwise on such terms and at such prices as the Offeror or, if applicable, its affiliates may determine. Such terms, consideration and prices may be more or less favorable than those offered under the Tender Offer. According to the Bank’s CEO – Segun Agbaje, “we are pleased at the outcome of this exercise. The Offer, which is the first of its kind involving a Nigerian corporate in the international financial markets, has enabled us achieve the objective of reducing some of the Bank’s borrowing costs ahead of the maturity of the Eurobond in May of this year.

is, N3.60 per share (three naira sixty kobo). According to the statement, the proposed final dividend will be subject to deduction of withholding tax at the appropriate rate and will be payable on the 12th of May, 2016, to all shareholders whose names appear on the Company ’s Register of Members at the close of business on the 2nd of March, 2016. A look at the audited results show that results from operating activities declined by 6.9 per cent to close at N62 billion in 2015 from N66 billion achieved in 2014. Profit before tax dropped by 11.3 per cent from N61 billion at the end of the 2014 financial year to N54 billion in the same period in 2015 while Profit after tax dipped by 10.5 per cent to N38 billion in 2015 from the N42 billion posted in 2014. The results were impacted by reduced consumer purchasing power and increased cost of doing business mainly due to inflation and devaluation. The statement signed by Mr Uaboi Agbebaku, Company Secretary and Legal Adviser, stated that the company was able to achieve strong results and deliver good return on investment to shareholders due to its twin agenda of Cost Leadership and Market Leadership supported by Innovation.

Vanguard, MONDAY, FEBRUARY 15, 2016 — 25

C M Y K

26 — Vanguard, MONDAY, FEBRUARY 15, 2016

Homes &Housing Finance

MBAN advocates home-grown mortgage model Developer unveils Simeon Court in Victoria Island

eluxe Residences, a Lagos-based real estate development company, has introduced Simeon Court, a luxury residential estate located in the highbrow, medium density residential area of Oniru Estate, Victoria Island, Lagos. Simeon Court comprises two blocks of 19 luxury apartments consisting of 18 units of 3-bedroom flats in two separate wings, and an exclusive penthouse, serviced by elevators, generous parking space and breathtaking landscaping. Each apartment has a guest’s convenience, classic living and dining areas, ultramodern kitchen, generous laundry room, box room, three ensuite luxury bedrooms and an all ensuite room for the steward/maid. Designed for exclusive taste, dwelling units at Simeon Court feature grand and spacious living room and dining area, an expansive master suite with walk-in closets and private balcony, fitted kitchen (with appliances, cabinetry and accessories), ensuite bedrooms, a maid’s room, laundry area, floors finished with a combination of marble and vitrified tiles, top grade quality bathrooms, tall and well-positioned windows for optimal ventilation amongst others. Other features include classic modern home design, landscaping, closed circuit TV, water treatment plant, flood lights, elevated building, paved compound, good land title, and pent house that enjoys excellent view of the ocean. Recreational facilities in the estate include children’s playground, swimming pool, gym and generous space for indoor games. The estate also features educational, religious and social institutions/facilities. A fully finished flat is priced at N65 million, with an initial deposit of N20 million, and the balance spread conveniently over 18 months. However, its current promo price for the housing type is N55 million, with an initial deposit of N20 million and the balance spread over 12 months. The penthouse sells for N110 million, and an initial deposit of N40 million only is required.

Stories by YINKA KOLAWOLE

he Mortgage Banking Association of Nigeria (MBAN), the umbrella body of licensed mortgage banks in the country, has called on the Federal Government to galvanise all major stakeholders in the mortgage industry to develop a comprehensive home-grown mortgage model that would be the catalyst for survival, growth and development of the subsector in Nigeria. This was contained in a communiqué issued after the association’s recently th concluded 11 Annual CEOs’ Retreat in Lagos. “The

*Seeks N500bn intervention fund

purpose-fit mortgage systems that suit the culture, lifestyle and economic realities of various countries had been adjudged as the most effective way of solving housing problems across the world,” it stated. MBAN also called on the Central Bank of Nigeria (CBN) to float a N500 billion mortgage intervention fund at a single digit interest rate to help stimulate development of the sub-sector. They noted that the apex bank had provided such intervention funds for other key sectors of the economy, wondering why the gesture had not been extended to the

mortgage and real estate arms of the economy. The CEOs noted that the mortgage/ housing sub-sector is an energizer and major catalyst in the transformation of some hitherto regarded third world countries like UAE, Taiwan, and Singapore to first world countries. The a communiqué which was signed by MBAN President, Dr. Femi Johnson and Executive Secretary, Kayode Omotoso, also enjoined government to increase the capital base of the Federal Mortgage Bank of Nigeria (FMBN) from its current value of N5 billion to

•Model of Simeon Court estate

at least N500 billion. The mortgage bankers contended that this will adequately position the apex mortgage institution to deliver on its mandates as a secondary mortgage institution designed to perform in creating long term funding for housing finance to Nigerians. They further recommended the removal of the Land Use Act 1978 from the constitution by the National Assembly and reiterated their call on all State governors to fast-track land title registration processes and reduce cost of perfection of titles, so as to encourage more citizens to obtain their land documents, which would ultimately enhance the Internal Generated Revenue (IGR) profiles of the various States. MBAN further resolved to collaborate with other stakeholders such as the CBN, Nigeria Mortgage Refinance Company (NMRC), FMBN and Real Estate Developers Association of Nigeria (REDAN) to approach the National Assembly to expedite action on amendments to the laws affecting the legal and regulatory framework of the Mortgage/Housing Sub-Sector. In particular, to facilitate the early passage of the various Bills with the National Assembly that are relevant to the sub-sector especially those related to foreclosure and restructuring of the National Housing Fund (NHF) into the National Housing Trust Fund (NHTF) Scheme.

Lafarge, Fortis Mfb partner to deliver 500 low cost houses By PROVIDENCE OBUH

afarge Africa Plc in collaboration with Fortis Microfinance Bank (MfB) has entered into a strategic agreement so as to provide low cost mass housing in Nigeria.

The agreement signed at the bank’s Abuja office being the first phase of the project is expected to produce 500 affordable homes for buyers within six months to one year from the start of the project. In a statement, CEO, Aggregates & Concrete, Lafarge

Africa, Mr. Loren Zanin, stated that the partnership with the bank is in line with the company’s strategy to make available its affordable housing solutions in all 36 states of Nigeria. “We believe everyone has the right to have a home. The

Affordable housing: Nigerians urged to embrace studio apartments S a way of facilitating easy access to “It’s our inability to come to terms with our A affordable housing, Nigerians have present economic conditions and cut our coat been advised to embrace the concept of according to our size…we must each have a threestudio apartments. A studio apartment, also known as a studio flat in UK, or a self-contained apartment in Nigeria, is a small apartment which combines living room, bedroom, and kitchenette into a single room. It typically consists of one large room which serves as the living, dining, and bedroom. Kitchen facilities may either be located in the central room, or in a small separate room, and the bathroom is usually in its own smaller room. Chief Executive Officer of Millard Fuller Foundation (MFF), Mr Sam Odia, gave the advice while speaking on “Affordable Housing: Bridging the 17 million Housing Deficit - Building for Low-income Earners”, at a recent forum in Abuja. He noted that the crave to own big houses has left many Nigerians without shelter.

bedroom house even though we can’t even afford a studio apartment. Affordable housing is not a duplex affordable to only a select and privileged few earning incomes of over N10 million per annum,” he stated. Odia said that 77 percent of Nigerians earn N40,000 or less per month and as such can only afford to buy houses valued less than a million naira. He said MFF, a low-income housing solution provider, has adopted the American definition of affordable housing where it is said that housing is affordable only if the median income - that is if 50 percent of the population of the locality can afford to buy. As a result of this, he said the Foundation has developed studio apartments in Luvu Madaki, Karu Local Government Area, Nasarawa State where a unit goes for N1.65 million.according to our size

housing microfinance programme is a social business initiative; it aims at enabling low income people, who represent 80 percent of Nigerians, to become homeowners, at a time when the vast majority of these people do not have access to commercial bank loan and mortgages. It also creates jobs for local communities in the construction industry. Besides, it is also an added value to our customers: cement retailers, block makers, etc., as housing microfinance will enable them to grow their clientele. It’s a part of our ambition to build a better Nigeria by providing a unique tailored service to individual home builders,” he added. Z a n i n explained that Lafarge will provide quality technical assistance totally free for the beneficiaries which will remove cost elements and make house construction cheap. He listed the technical assistance to include catalogue of designs that can be adapted to the customer ’s need and help them to build the home of their dream at the most affordable cost.

Vanguard, MONDAY, FEBRUARY 15, 2016 — 27

C M Y K

28 — Vanguard, MONDAY, FEBRUARY 15, 2016

t ain’t the things you don’t know that cause the problem. It’s things you think you know that ain’t so. Ralph Waldo Emerson, 1803-1882. VANGUARD BOOK p 117.

RESIDENT Buhari must have entered into the GUINNESS BOOK OF RECORDS for taking five months to assemble a cabinet of less than fifty people and about thirty Special

Advisers, noise makers as he called them. The reason given would have been acceptable if he was going to bring the people from another country or planet. Given they were all going to be Nigerians, the excuse that Buhari wanted to avoid mistakes was unacceptable then; and it is becoming more so now. To be candid, if what we have seen so far is an indication of what to expect in the three years and three months left, then he waited too long to appoint them. He had made one glaring error. Some of purveyors of half-truths, Mr these fellows don’t understand to hire more lawyers to prosecute Akande failed to mention one figures; they know next to the over 2,000 cases that will Nigerian economic historian. To nothing about the budget process result from Dasukigate alone. Mr be sure, there are economists; and, and so they talk a lot of rubbish. Magu spoilt his presentation there are historians in Nigeria. It is alarming to imagine that when he announced that the But, economic historian? None. these are the individuals EFCC asked for N500,000 That is only one tenth of the fault appointed to high office in this million naira for its operations. with Akande’s submission country and for whom we had to Are we supposed to believe that however. wait for ever. Mr Magu does not know that he He proceeded to list five First, the Chairman of the is asking for N500 billion out of programmes on which the N500b Economic and Financial Crimes a budget of N6 trillion or 8.25% will be spent if delivered right now. Commission, EFCC, went before of the budget? They are: N5,000 Conditional a National Assembly Committee However, Magu is not the only Cash Transfer (CCT) for one looking into the Commission’s person asking the NASS to hand million people; 500,000 jobs for 2016 budget. Like most other over N500 billion in a hurry. Mr unemployed graduates (no salary officials appearing before the LaoluAkande, Senior Special attached); 375,000 people to pay NASS, Mr Magu lamented that Assistant to Vice-President under the Youth Employment Plan the EFCC is not adequately Osinbajo is also asking for the (no amount attached); N60,000 funded. Few people will dispute same amount. In a report written Micro Credit Scheme for one that. And part of the reason for by Augustine Ehikioya, in THE million people and Education his lamentation might be related NATION, February 8, 2015, page plan for 100,000 students of to the fact that the EFCC has 8, and titled ´Why Fed Govt’ll Science, Technology, Engineering finally discovered that it was spend N500b on social welfare & Mathematics where established to serve Nigerians by in 2016, by Presidency´, Mr government will pay tuition catching high-profile crooks. Akande started to justify the (again no amount stated). Suddenly, the EFCC has an N500b allocated to social welfare Mr Akande has spent a good avalanche of cases on its hands in the 2016 budget by making part of his working life assisting and insufficient manpower to reference to some unnamed politicians and political office handle the flood of cases. economic historians who holders. It is doubtful if he ever But, the EFCC was in the wrong acclaimed that the half-trillion is had to prepare a budget and place to be requesting for unprecedented, and it is the defend it before a serious Board budgetary increase greatest service ever done to the of Directors. Otherwise he would commensurate with the work at people by the Federal have known that without knowing hand. For instance, it will need Government”. Like most

Can these figures and budget illiterates run a government?

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how much each unemployed graduate, youth for training and student’s tuition will cost, it is impossible to determine whether N500 billion will be sufficient or excessive. Again, like most people blissfully ignorant of economics and finance, he left out the administrative costs. Can money be transferred to one million people in the city of Lagos alone without costs? Yet, the one million will reside in all corners of Nigeria – including Sambisa Forest. After admitting that similar efforts, on a smaller scale have failed in the last, Akande glibly assures Nigerians that this government will avoid such pitfalls. In other words, Just Trust Us. That is not the worst part of the entire exercise. The clincher to all those hilarious trope of words lies in the fact that that the Federal Government has not even finished the implementation plan for any of these programmes for which it is asking for N500b. In short, Akande is asking the NASS to approve N500b and wait for the details later. If the Managing Director of a well-organised company asks his board to approve N500,000 for a

project, promising to provide details later, he would be asked to take a rest in a hospital. Budgeting is not done that way. The one that should really frighten Nigerians about the calibre of people Buhari appointed is the Attorney General of the Federation, AGF, Mr Abubakar Malami, SAN. It is a pity they don’t make Senior Advocates of Nigeria from the brightest and the best anymore. On Tuesday, February 2, 2016, the Minister of Justice for Nigeria made a press release stating that the EFCC (which he supervises) has recovered $2 trillion in twelve years – from 2003 t0 2015. That amount, $2trn is N400trn at official rates and N600trn at black market rates. For readers to understand the level of absurdity involved in this, we need to draw the attention of people to President Obama’s final budget which is $4trn. Now, is the AGF of Nigeria saying that the EFCC had stored away half of the annual budget of the United States and Nigerians don’t know it? Are we going cap in hand to beg China for $2bn loan and the African Development Bank for $1bn when we have $2trn sitting in a vault in Tunde Idiagbon House? President Buhari should either call Adeosun back from China and AfDB or ask his AGF to ‘take a rest’. At a time like this, the last thing we need is an AGF who cannot master primary school arithmetic. $2trn indeed!

Vanguard, MONDAY, FEBRUARY 15, 2016 — 29

Micro Finance

Acquisition: No redundancy, we’ll build skills and capability — Letshego GMD By PROVIDENCE OBUH

he Group Managing Director of Letshego Microfinance Bank, Mr. Chris Low, has assured that there would be no job losses. He said this in an interview following the official announcement of Letshego’s acquisition of FBN Microfinance Bank (FBN MfB) in Lagos, just as he hinted that the company would be investing in building skills and capability among its management team. What informed your decision to come to Nigeria to buy over FBN Microfinance Bank? Primarily, our mission is to be Africa’s leading financial services group and if you are going to come to West Africa, Nigeria is mainly the place to start. We have been looking at this market for a number of years and we look to the opportunities, before FBN MfB was shown to us, which is a business fully in line with broad based financial inclusion agenda in terms of services and client base and so we decided to go ahead with the transaction. What new things are you bringing to the table as Letshego Nigeria? We are hoping that we would develop a recognized financial inclusion agenda that would cover the health, education and agricultural sectors and we would be looking to see other opportunities that exists for financing low cost, low income housing. Also, in other parts of the world, what we do is providing consumer finance and secured loans to government and low income salary earners. We would also be looking at the opportunity and of cause managing that within the regulations. How do you intend to compete with the existing MfB’s in the country with similar service? A good question and the answer is very simple, C M Y K

customer experience will make the difference, competing around price does not work, but it is identifying and anticipating customer’s need and providing support, affordable and appropriate solutions to meet those need, so it is not complex solutions but it is about what they need to improve their lives and finding a way to provide that in a low cost and effective manner which means using technology to deliver that finance where they are not where we are. It may be mobile or the internet, whatever it may be, ours is to provide direct services to the people, you may say that is being done by some of the other players but we are developing expertise on a multi-geography basis that would help us achieve our goal, but it starts with the customer. What would you be doing differently to handle the issue of bad loans? There are a number of different things, our starting point which obviously have started with the previous team is to invest heavily in training around credit, we have to have the right upfront approval process as well as the ongoing monitoring processes as well as market recovery processes, we are going to entrench that as the starting point, secondly we have to use technology to be effective in terms of the monitoring and ability to pay, sometimes customers default because they cannot get to where they need to pay back, so we will use technology to improve on collective capability and monitoring capability. I guess we are using technology to introduce dynamics score carding in other word, it manages behaviour on foremost day to day basis and when we find that such an assumption is about ability or willingness to pay a loan, we can adjust quickly so that it does not become a big hold, of cause there is a cost of doing business which is credit risk

Firm empowers lives with Ruzu Bitters By PROVIDENCE OBUH

•Mr. Chris Low but we pride ourselves on running as a group. Reaching the rural areas and especially the rural women, what is your strategy? Rural focus is absolutely central to Letshego’s philosophy, we see a lot of congestion in providing financial services in the cities and so our normal working model is that we have one branch in the capital of the business city and all the other branches would be in the region. One of the attractions of FBN Microfinance Bank is the National licence and in due course, we will definitely be looking to expand beyond Lagos where we primarily are today and in Abuja we have a branch. The question of how, when and where to start is a thing we have to obviously agree the strategy we want to adopt clearly on that front but you will see more of women and rural strategy going forward. How do you intend to maintain existing staff and what are your reshuffling plans like? I would say reshuffle is an interesting word because we want to build management skills and capability and am

But it is about what they need to improve their lives and finding a way to provide that in a low cost and effective manner

sure there would be some changes but definitely it is not going to be mass redundancy. The MD/CEO of FBN MfB Mrs. Pauline Nsa, has built a successful business and we want to take it to the next level and the best way to do that is to use the existing team that understand the business and take them to the new dynamics of growth. On working with the Central Bank of Nigeria Like any other regulator, we have to adhere directly to their regulations, we are a public company in Botswana and therefore even if we wanted which we don’t we have to comply because our reputation is very important. The approval process went smoothly by providing information to every question to FBN Holdings. We commend the CBN for giving us this opportunity and we want to tell them that we wish to be a responsible organization within regulatory framework for microfinancing Are you aware of the N220 billion Micro Small and Medium Enterprises Development Fund? How do you intend to access the fund? We are well aware of it and we would be meeting with the relevant people that we hope may provide us access to some of these funds as well. When is Letshego likely to kick off? We have already started business. Rebranding We have an agreement with FBN holdings that we would have a transition period which is not just one day, there are 28 branches, we are launching the new brand as a group and within a few weeks we will start the rebranding process, within six months our branches would be Letshego MfB.

venues to Wealth (A2W) Limited, marketers of Ruzu Bitters, have launched “Helping Lives Initiatives” with a view to empowering Nigerians. The Managing Director, Avenues to Wealth, Mr. Adeolu Akinyemi, in a statement explained that Helping Lives is a joint initiative of A2W Ltd, Natures Pure Marvel and Generis Solutions and it seeks to address three key issues of health, wealth and education. He said, “Deeply entrenched in every human being is a desire to help others. Helping Lives, offers an amazing opportunity to be a part of people’s healthy living, financial success and education while you also achieve amazing results for yourself.” Explaining further, he said that to achieve the goal of helping lives, the company has formulated a loyalty program. He hinted that the product manufactured locally is now six years since it entered the market but rather gained prominence a year ago through A2W’s marketing startegy. “When we took over the marketing, the product sold in the first two months are more than what has been sold in the last seven years put together. So the products basically is just coming into limelight, we’ve rebranded it, we’ve repositioned it and its coming into the market, today its being sold in America, its being sold in UK, Ghana, Cameroon, South Africa and it’s doing well. “In the bitter category, we are number one, we are not doing badly. Last year as a new entrance to the market with our marketing efforts we were able to sell half a million bottles, this year we look forward to about 20 million bottles”. On the Federal Government’s determination to revive the economy and improve business climate, Akinyemi said that most economic policies of the government are aimed at promoting local production of goods and services. “As the dollar is going higher, it is an opportunity for us to ensure that we have something that we are producing locally. We believe that this can be the next crude oil, we believe we are doing something locally within the environment, we are not driven by importation, we are driven by exportation,” he said. In the same vein, Chairman A2W, Prof Pat Utomi, commended Helping Lives Initiative saying “one of the most important things that one can do is to provide education to people and in the last few years I have been involved in that area.

30 — Vanguard, MONDAY, FEBRUARY 15, 2016

e-Commerce

Stutern, Jobberman tackle unemployment with internships

TopCheck.com.ng extends price comparison to personal loans, broadband internet, others

STORIES BY JONAH NWOKPOKU

tutern, Nigeria’s i n t e r n s h i p marketplace has entered into a strategic partnership with Jobberman to tackle the menace of unemployment in the country through internship placement. Through this partnership, Stutern has become the exclusive partner of Jobberman for internship placements in the country. The partnership will see Jobberman granting Stutern access to its more than 45,000 employer relationships. Jobberman will also put its marketing power behind Stutern as it intensifies the provision of internship opportunities to undergraduates, NYSC members and fresh graduates in Nigeria. As a result of the partnership, Stutern will also henceforth be known as Stutern by Jobberman. Speaking on the deal, Cofounder, Stutern.com, Taiwo Ayanleye said: “We have one focus. It is internships. Get experiences, get skills, get paid. An interesting thing about our vision at Stutern is that our solution for Nigeria will be expanding to other emerging economies and that’s why we are excited about a partnership with Jobberman. And that is where we are headed.” Explaining how the stutern solution works, he said: “For any talents looking for internship, they should checkout www.stutern.com and should sign up as an intern. We have two packages for them, one is free while the other is paid and it guarantees 100% placement within 4 to 6 weeks. And for any employer looking forward to hiring interns, he should also signup and make a request by either posting a position or hosting curated competitions on our platform for the specific internship position they are hiring for.” Also speaking on the partnership and the need for internship culture in Nigeria, Stutern’s Co -Founder, Kehinde Ayanleye, said: “With the increase of unemployable graduates that are chur ned out yearly, encouraging an internship culture is the only solution that the employers can truly and fully nurture for developing employable talents for themselves and peace for the nation. We believe that internship is the key solution to solving youth unemployment in a nation like Nigeria. Its importance will now start to gain unavoidable vibrancy in our society and Stutern will be the leading platform that will C M Y K

VISIT — From left: Amber Fowler, Partner & COO, EchoVC, Bukola Saraki, President of the Senate and Eghosa Omoigui, Managing Partner, EchoVC and Managing Director, FG ICT Innovation Fund, during a courtesy visit to the Senate President in Abuja to brief him on the plans and activities of the $50m ICT Innovation Fund. make this happen for Nigeria and other emerging economies. We are calling on every undergraduates, graduates and youth Corp members to join stutern.com today. If you want a guaranteed internship withing

weeks, join the paid version of Stutern.com called Stutern+” On his part, Jobberman’s Co -Founder, Opeyemi Awoyemi said: “We are happy to have Stutern on board as a partner company. Employment and

employability are very huge problems in developing countries and we need to attack them from different angles. This partnership will enable us to do more and faster.”

Rosabon, Carmudi launch ‘Lease with Ease’

osabon Financial Services and Carmudi.com.ng have launched a reward scheme for people applying for Consumer Lease of N1 Million and above from February 8 to February 29, 2016. The scheme allows customers who apply for lease within this period to get easy financing options while qualifying for a chance to win prizes such as the Concept Nova’s C-Protect - a glass protecting film, Generating sets, Home Theatres, Washing Machines and many other prizes. To qualify for this reward, customers only have to indicate interest in getting a Consumer Lease, get a Lease Application form from Rosabon Financial Services, Provide all necessary documents for approval such as proof of employment and stable flow of income and make initial contribution. For those interested in buying a car, whether used or new, the customer is expected to provide a pro forma invoice from a vendor of choice or log on to Carmudi website, w ww.carmudi.com.ng, browse for desired car, click on the financing option and Rosabon takes it up from there. Rosabon said the promotion is open to new customers who apply for Consumer Leases

and their tenors start within the stipulated timeframe for the campaign, adding that customers are free to choose any gift of their choice as long as it falls within their category. Speaking on the scheme, Head, Strategy and Marketing, Rosabon Financial Services, Chidimma Onyeokoro said: “Consumer Lease from Rosabon Financial Services is a flexible lease plan that allows you get that car of your choice (used or brand new) and a range of household appliances while you pay for them over a structured time. Our leases are collateral and stress free, ensuring that you

get that asset you need as soon as possible.” She added: “As a customer oriented company, we do our best to make sure that acquiring assets such as cars, the basic dream of every Nigerian, is more attainable to our clients.” On her part, Managing Director, Carmudi Nigeria, Amy Muoneke, said: “Carmudi Nigeria is becoming a one-stop shop for all things automobile. This promo in partnership with Rosabon is to make sure we give Nigerians the opportunity to own their dream cars this year.”

opCheck.com.ng, an online platform that provides comparison for car insura nce prices has now extended its comparison solution to personal loans, broadband internet and credit cards. Users can also compare different insurance products such as travel insurance, life insurance, and health insurance. In a statement, TopCheck’s Co-founder, Christian Wiesner said, “Since TopCheck.com.ng’s official launch in August 2015 the company has been able to provide cheap, but high quality insurance quotes to thousands of Nigerians on a daily basis. With TopCheck.com.ng, customers were able to compare car insurance quotes from multiple insurance companies from the ease of their homes and offices. “The feedback for car insurance is amazing. Customers highly appreciate the convenience and moneysaving opportunity that our site offers.We are proud to expand our product portfolio now.” He added: “For this, TopCheck.com.ng was able to get some of Nigeria’s leading financial institutions on board. We are happy to have the leading financial institutions of Nigeria on board, because it’s our promise to our customers to offer only prices from companies our customers can absolutely trust.”

Jovago gets $84m investment from AXA

lobal player in insurance asset management, AXA has ventured into internet business as it has announced about £75 million in Jovago.com, an online hotel booking website to boost the hotel booker ’s activities in Africa. The investment, according to Jovago in a statement, would further ensure the expansion of the business and strengthen the brand in major cities across Africa and Asia. It said that AXA as a major investor confirms Jovago’s strategy to expand its

operations and local presence in Africa in order to meet the needs of domestic and international travellers. With this investment, AXA will now own approximately eight per cent share capital of Africa Internet Group, AIG, parent company of Jovago. As a result, AXA will thus become a shareholder of AIG along with MTN, Rocket Internet and Millicom. Speaking on the deal, Chief Executive Officer of Jovago, Paul Middy said: “It’s amazing for Jovago to partner with such a strong group as AXA who will allow us to

strengthen our ability to build the first platform for travellers in Africa. Jovago wants to break the barriers to travel and make travel more easy and affordable in Africa. The support of AXA will be key to succeed. “ He added: “Since the funding is well-timed and the amounts invested significant, this makes for one of the top investments in the history of start-ups in Africa. It also strategically positions Jovago and Africa Internet Group to further build e-commerce in the continent.”

Vanguard, MONDAY, FEBRUARY 15, 2016 — 31

Insurance

AFRICAN PENSION FUND: Restrictions limit investment opportunities outside own countries — Slater STORIES BY FAVOUR NNABUGWU

he need to checkmate and ensure the pension funds are not in any way misused in Africa largely restricted h ave

investment opportunities outside own countries in the continent. Mr. Andrew Slater, a fellow of the Institute of Actuaries said due to some limitations on pension fund, assets are growing much faster than products that are being brought to market, adding that the limitations on investment opportunities, regulation does not allow for pension funds to invest outside of their own countries. In an article on ‘Why African pension funds should diversify including cross-borders,’ Slater said, “With pension fund assets growing at a brisk pace, identifying appropriate local investment and development opportunities can be

From left: David Vann CEO; Devendra Singh, Head of Sales and Mike Ogor, Head, Marketing, all of Spectranet 4G LTE, after a media chat on the growth of Spectranet in Nigeria held in Lagos.

challenging. This shows the need for pension fund regulators to allow more alternative and more regional/ international investment by pension funds to better their diversification.” He said that assets in East Africa have grown in excess of 20 percent on a consistent basis, only overshadowed by Nigeria, which has seen growth between 25 percent and 30

percent. For instance, he cited that Namibia allows up to 35 percent of assets outside the Common Monetary Area which include Lesotho, South Africa, Namibia and Swaziland, with a limit of 30 percent outside Africa, while Botswana allows up to 70 percent investment abroad. In South Africa, pension funds may invest as much as 30

percent of their assets outside the country’s borders. But Nigeria has relaxed the restriction on offshore investments by Nigerian pension fund administrators (PFAs) of pension fund assets, following Pensions Reform Act 2014, which came into effect on July 1 2014 and repealed the Pension Reform Act 2004. The previous act restricted the ability of PFAs to use pension fund assets to invest outside Nigeria. Section 74 of the previous act provided that a PFA could invest pension fund assets in units of any investment funds or securities and subject to the existing Central Bank of Nigeria foreign exchange rules that the National Pension Commission (PenCom) could recommend to the president the approval of the investment of pension fund assets in investment funds or securities outside Nigeria. This meant that without the president’s approval, a PFA could not invest pension fund assets outside the country. The national contributory pension fund scheme was established by the previous act, which further provided that this newly established fund would be subject to stringent restrictions and used to enhance investment in Nigerian securities and boost the Nigerian economy.

LASACO reaffirms commitment to customer satisfaction

ASACO Assurance has reiterated its commitment toward ensuring that her customers derive maximum satisfaction from their relationship with the company. Head, Corporate Communications of the company, Mr. Tayo Jaiyesimi who expressed the determination of the company to deepen its market share and deliver value to its teeming stakeholders in year 2016 said that customer satisfaction is the number one strategy that drives the company ’s operation. Jaiyesimi said that the company understands that in order to continue to put smiles on the faces of their customers’ prompt claims settlement and exceptional service delivery must not be compromised. “As a customer focused brand, we carefully put ourselves in our customers’ shoes and understand what they want and how best they want it and we ensure our services are tailored to their wants and aspirations. When our customers are happy, we are happier because they are the reason why we exist.

Advertising & Media

How Rosabon emerged Nigeria’s best financial advisory brand STORIES BY PRINCEWILL EKWUJURU

osabon Financial Services brand has become Nigeria’s latest global success story in Small and Medium Enterprises, SME, financing as it clinched the ‘Best SME Financial Advisory Nigeria 2015 Awards bestowed on it by UK based Capital Finance International, CFI.co. CFI.co is an international print journal and an online resource reporting business and finance trends across the world. The annual award, CFI.co says, seeks out individuals and organisations that contribute significantly to the convergence of economies and truly add value for all stakeholders. To win the award, Rosabon Financial Services, along with two other Nigerian companies, was nominated by CFI.co audiences, and then shortlisted for further consideration by a panel. CFI.co’s research team gathered additional information to help reach a final decision coupled with some cases where senior members of nominee management team provided the judges with a personal view

company to win in any category among selected winners across several economic regions. This is significant because with this award, Rosabon has now joined the league of top players in Nigerian corporate world such as; Zenith Bank, Schlumberger Nigeria, CRC Credit Bureau, ARM Investment Managers and PricewaterhouseCoopers Nigeria who have clinched an award from CFI.co in different categories in the recent past. In Nigeria, the SMEs form a critical part of the economy as they constitute over 90 per cent of the economy, AWARD: — From left, Head, Strategy & Marketing, Chidimma Onyeokoro, according to studies by Managing Director/CEO, Chukwuma Ochonogor and General Manager, Itiekhao Ikpeminogena, all of Rosabon Financial Services, after receiving the ‘Best SME International Finance Corporation. SMEs, Financial Advisory Nigeria 2015 Awards’ presented to Rosabon by CFI.co. according to the study, also represent more than 80 per cent of the of what sets their companies innovation, CSR policies, manufacturing/industrial and institutions apart from the market leadership, sector in terms of number of competition. transparency, response to enterprises. But, in spite of the Rosabon was declared market demands and strength size of this sector, they winner in this category based of nominations. contribute approximately one on its outstanding records on The process saw Rosabon per cent of the country’s GDP. financial performance, risk emerge the best SME financial This is as a result of its many management, corporate advisory Nigeria 2015 – the constraints, chief among which governance, customer services, only SME focused Nigerian is access to funds.

Firm pioneers architectural media

Lagos based firm, Medife Media, has pioneered Africa’s first Advertising glass building technology, which enables buildings to be transformed into architectural media. Speaking on the innovation, Medife Media’s CEO, Ifeanyi Asiodu, explained that “the advertising glass is the first LED display technology which offers up to 80% transparency that allows windows and building facades to be used as high impact visual display platforms while preserving the view from within the building.” Asiodu, who had worked for Fingal Communications and Haymarket Media Group, London, added that “using this innovative technology makes it possible to bring windows, storefronts and building facades to life with stunning and eyecatching graphics, videos and animation to create spectacularly rich media content, which literally grabs and attracts attention from both short and long distances”.

32 — Vanguard, MONDAY, FEBRUARY 15, 2016

(0805 220 1997)

‘’There is nowhere in the world where Monetary Authorities fund Bureaus De Change (BDCs) directly with foreign exchange. The predominant patrons of Nigeria’s BDCs are predominantly, smugglers of unauthorised items, treasury looters, and others who cannot process formal documentation to access official foreign exchange. Curiously, the CBN’s formal policy to sell $400,000 weekly to each BDC translates to $1.6bn, for 1000 BDCs monthly. Indeed, relatively cheaper BDC dollars mean cheaper smuggled goods and increasing distress to local industries and a boon to treasury looters and capital flight. “Clearly, the present record breaking revenue from oil earnings is not sustainable, but it is disturbing that we gleefully throw more official dollar revenue to BDCs, instead of the real sector, and it is worrisome, also that no less a person than CBN Governor, Chukwuma Soludo, embarked on such a foolish escapade!’’ The above excerpt is from an article titled “Sale of Official Dollar Revenue to Bureau De Change”; published in August 2006 after CBN irresponsibly commenced direct allocation of official forex to BDCs; surprisingly, Soludo raised weekly allocations to each BDC to $1m shortly after. Incidentally, the above piece was sequel to another article titled “Cheaper Black Market Dollar” published a month earlier; excerpts from that article are as follows: “In the wake of the Central Bank’s pseudo liberalization of dollar supply the Naira rate tumbled in the parallel market from over N140=$1 to today’s rate of about N130=$, leaving a spread of barely N2 from the official rate. Ordinarily, this outcome should be evidence of success of CBN’s monetary

Dollar racketeering and enemies from within reforms to eliminate multiple exchange rates and minimise the attendant economic distortions. “In essence, however, CBN achieved this feat by bombarding the parallel market with dollars, from our presumably surfeit dollar reserves! Let us remind ourselves that BDCs worldwide, traditionally, serve a relatively small informal or itinerant market. Consequently It is pertinent to ask to which purposes the $1.6bn monthly allocations to BDCs will be applied. The answer would most likely, be for importation of unauthorised goods, and the facilitation of capital flight, round tripping and money laundering by politicians and corrupt civil servants! “Inexplicably, therefore, CBN is deliberately, consciously undermining its mandate for price stability and instead self inflicting, distortion in our nation’s economy. “For these reasons, some analysts hold that our monetary authorities have grossly misplaced their priorities, and also maintain that CBN’s strategy for reducing the gap between the parallel and official market rates is akin to smashing a cockroach on a glass table with a sledge hammer! Conversely, these analysts explain that, in practice, the problem is not with dollar supply but the huge pool of naira released into the money market every time humongous Naira allocations are substituted for dollar denominated revenue’’. Thus, the higher the increase in Naira liquidity, the greater the demand for dollars from BDCs and the more serious also will be the distortions caused by smuggling and capital flight

and the weaker, ultimately, will be the naira exchange rate. Consequently, CBN’s seeming laissez fair allocations to BDCs is regrettably, obviously a deliberate clandestine strategy to fund the dollar requirements of smugglers and treasury looters while pretending to defend naira value!’’ It is inexplicable that the IMF did not recommend that the challenges of multiple exchange rates, a weaker naira, spiraling inflation and stagnant economy could be more positively resolved if CBN’s dollar monopoly is immediately dismantled.’’ In November 2010, barely four years after the above article, Muhammad Abdulahi, CBN’s Corporate Affairs Director confirmed in a media statement that “it had been inundated with complaints from foreign countries that some Nigerian travellers indulge in cross-border transportation of large sums of foreign currencies in cash, and that Nigerian Customs Services returns show that large

Let us remind ourselves that BDCs worldwide, traditionally, serve a relatively small informal or itinerant market

national economic sabotage and it is paradoxical, that CBN, despite its mandate for engendering price stability and sustaining industrial regeneration and promotion of increasing employment opportunities is actually the instigator of our industrial and economic backwardness and deepening poverty in Nigeria. This uncomfortable conclusion is strangely obviously in sync with popular Punch columnist, Abimbola Adelakun’s separate observation in a recent article titled (Buhari, Time We Stopped Lying to Ourselves) that “Like the budget itself, Nigeria was designed to sustain the mechanism through which corruption operates rather than advance the nation”. This tragic reflection has been, inadvertently, sadly also confirmed, with regards to the obviously misplaced positive public expectation from CBN’s strategy for Naira stability, by President Buhari’s recent revelation, during a chat with Nigerian residents in London, that his government “found out, that some top directors in the Central Bank own Bureau de change businesses”; so according to him, “when the foreign exchange comes, they take it and give government the change” and smile home with increasing profits from the forex scam at the expense of fellow Nigerians. This unfortunate reality seems strangely akin to asking a goat to protect harvested yams; therefore it is no surprise; that CBN Directors who have become stupendously enriched by the existing obtuse forex strategy, have solidly opposed alternative suggestions for managing the Naira as they eagerly sustain the selfish abnormality with effusive propaganda which, mischievously extol their concerted rape of the economy as best practice management.

amounts up to $3m cash have been taken out of the country by individuals in single trips (Business Punch, 4/11/2010, pg. 15). The truth, of course, is that CBN has no business whatsoever funding BDCs!! Conversely If CBN, however, belatedly holds its nerve on this issue, and immediately stops dollar sales to all BDCs, we will once again witness a widening gap between official and black market exchange rates! This would invariably provide CBN with a ready excuse to narrow the gap and again officially devalue the naira despite the obvious adverse impact on inflation, industrial production cost, economic growth, and employment!!’’ Furthermore, the following is also excerpt from an article later published in October 2012 titled “Currency Trafficking, BDCs & CBN” ‘’In October, media reports confirmed that two men, Nkem Sebastian and Alhaji Tasiu Kura were apprehended by the Economic and Financial Crimes Commission (EFCC) operatives with about $986,000 found on them enroute to Dubai via Lagos and Kano International Airports respectively. The arrests, came barely 48 hours after the arrest of 24-year old Abubakar Tijani Sherif, whom EFCC described as a bulk money smuggler, with over $7 million at the Lagos International Airport, en route the United Arab Emirate. Unbelievably, these currency merchant were simply released immediately after forfeiting just 10% of the funds trafficked in accordance with the prevailing authorised slap on the wrist penalty. Predictably, CBN’s illadvised liberal dollar allocations to BDCs may have become a supportive tool for

Business & Economy International forum on Islamic finance gathers bankers across globe

slamic banking leaders and dignitaries from across Africa and the Middle East gathered last week at the 2nd annual International Forum on Islamic Finance (IFIF 2016). Held under the patronage of the Government of the Republic of the Sudan, the Central Bank of Sudan and the Ministry of Finance & Economic Planning - and in strategic partnership with the Bank of Khartoum - IFIF 2016 hosted 200 dignitaries, central bank representatives, Ministers, C-level bankers, C M Y K

thought leaders and experts who gathered at the Al Salam Rotana Hotel in Khartoum to deliberate on strategies to enable Islamic finance gain prominence and spur

economic growth across Africa. Delivering keynote addresses to a packed audience were Fadi Al Faqih (CEO of Bank of Khartoum), Musaed Mohammed Ahmed (Head of Sudan’s Banks Union), H.E. Abdelrahman Hassan Abdelrahman Hashim (Governor of the Central Bank of Sudan), H.E. Badr El-Din Mahmoud Abbas (Minister of Finance and National Economy of the Republic of the

Sudan) and H.E. Bakri Hassan Salih (First Vice President of the Republic of the Sudan). The conveners of IFIF, Middle East Global Advisors - a renowned intelligence platform serving the Middle East North Africa Southeast Asia (MENASEA) region for 22 years - gathered a powerful line-up of speakers including Dr. Anindya Ghose, Professor at NYU Stern School of Business, who was named Business Week’s “Top 40 Professors Under 40 Worldwide”. Dr. Ghose will speak on the impact of social media on banking and shared that: “Industries and markets are being transformed by a growing shared technology infrastructure.

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, FEBRUARY 15, 2016—33 Send Opinions & Letters to: opinions1234@yahoo.com

There was no coup on Januar Januaryy 15, 1966

HIS January was filled with activities and reminiscence of what officially was said to be the fiftieth commemoration of the first coup in the country; the five Majors coup of January 15, 1966. There were speeches and the newspapers were clogged with all sorts of features and advertorials. However, despite what we chose to believe as our history, and official records, facts show there was no coup on that day, so January 15, 1966 could not have been the first coup in Nigeria. To clear the cobwebs, we first have to agree that a coup d’etat or coup, is the sudden and forceful seizure of power; the overthrow of government and its replacement usually by a clique. On that day, a group of Majors led by Emmanuel Ifeajuna struck. In Lagos the federal seat of government, Prime Minister Abubakar Tafawa-Balewa and Finance Minister, Festus OkotieEboh were killed but the rest of the coalition government was intact. The mutiny was such a failure in Lagos that the mutineers could not even broadcast their coup speech.

This made Major Chukwuma Kaduna Nzeogwu who led it in Kaduna, seat of the Northern Region Government, to make his famous speech detailing why they struck. But even here, only the Premier, Ahmadu Bello was killed, the rest of the government, including Governor Ibrahim Kashim was in place. Also, the nearby major city of Kano and its military command was not under the mutineers. In the Western Region, only the Premier, Samuel Ladoke Akintola was killed, his Deputy, Remi Fani-Kayode and the rest of the government was in place. In the two other regions; the Eastern and MidWest , the mutiny virtually did not take off. By 2.pm when the Council of Ministers announced that some dissenting elements in the military had caused disturbances in parts of the federation but that the armed forces remained loyal to the Government, only Nzeogwu and his men in Kaduna remained standing, the others were in disarray or on the run, including Major Ifeajuna who ended up in Ghana. Also important to note is that the country ran a Parliamentary system,

and the parliament was in place. In other words, the January 15, 1966 mutiny was a failed, attempted or aborted coup very much like the February 13, 1975 aborted coup by Lieutenant Colonel Buka Suka Dimka in which Head of State, General Murtala Ramat Mohammed and Kwara State Governor Ibrahim Taiwo were killed. Very much like the April 22, 1990 Major Gideon Gwaza Orkar aborted coup. With these Findings of Fact, how come the Government did not continue either at federal or regional level? The simple truth is that there was a second mutiny by more senior military officers who succeeded in overthrowing the government the following day, January 16, 1966. So while the Majors coup failed, the one led by Major General Thomas Ifeanacho Aguyi-Ironsi was successful. Aguyi-Ironsi, the General Officer

Ironsi and his fellow officers who seized power on January 16, 1966 were coup plotters and that is the fact our history books should reflect

Nigerians and Ov er seas emplo yment Over erseas employment By Patrick Cole

IKE most young Nigerians I had a picture of being young and strong while white people were white and weak. I am sure that young white people also thought black people to be weak. No one had ever tested this but we believed this so strongly that we thought nothing of the holiday jobs we all did as students. Ben and I worked in the freezing works where sheep was slaughtered, cleaned up and dressed ready for export. After cleaning, the wool and the innards, the hoofs, heads etc were stored separately- the bones were used to make buttons. Nothing was wasted-every part of the sheep had its uses. I worked in the paint house and Ben on the wool. This freezing works was a very large factory, slaughtering over 20,000-25,000 lambs per day. As each lamb is slaughtered the feet are hung on a moving convoy. At regular intervals, there are other workers who remove the pelts and other parts not meant for export. The pelts are thrown into a giant washing machine which spits pelts on a conveyor belt. These pelts still have wool on them. We spread the skin of the sheep on the conveyor belt to enable it pass a machine that coats the leather with a chemical which loosens the wool from the skin (leather). My job was to see that each pelt is well painted with the chemical- so I had to spread the pelts evenly for the process of chemical painting. There after the pelts in a matter of minutes get to the wool floor where another set of workers spread the pelts on a waste high casel device. And in one go, by pushing their hands down the spread pelts remove the wool from the pelts which then are removed to another section of the plant for drying and tanning. Ben’s job was to make sure that all the wool thus removed was swept on to another conveyor that would now dry the wool. It is one of the softest jobs in the whole factory – sweeping wool to a conveyor belt. There are many who do Ben’s work but it does not take long before there is a C M Y K

pile up of wool which should have been moved. The whole factory is automated and if any part of the process is not up to scratch an alarm rings and every one would shout “uncle Ben again, please buck up” someone would run to this section and help clear the bleakly. As for me I wear thick gloves and spread the pelts evenly so the chemical sprays only the skin of the lamb. After every two or three hours there is a break for 5 minutes for those who smoke to do so and others to go to the toilet. Ben and I having the easiest jobs were invariably the culprits when the alarm goes off and the conveyor stopped. The fore man would be heard screaming “Ben, Patrick get a move on: you are slowing the job”. We couldn't understood why the other New Zealand boys could do much harder work for much longer hours but we were the culprits of tardiness every time. Our bodies will ache and we would have pains in our bodies where we never thought we had muscles!! Many Nigerians had summer jobs because then students were expected to work in summer and earn a bit of a living. Immediately after the exams in the UK is the fruit picking time. Many of us would arrive at the farm and we would see rows and rows of strawberries ready to be picked. White boys and girls, black boys and girls. Each person is given a bag, quickly

So when I see thousands at the Embassy going to the US or UK or Europe, I have a little laugh to myself

Commanding the Nigerian Army had rallied loyal troops. But in the course of this, the top hierarchy of the military had become opportunistic like parasites, and decided to seize power for itself. In his book, “Nigeria and Biafra: My Story by Philip Effiong” the author wrote that when Lieutenant Colonel Victor Banjo briefed him and other army officers in Lagos on the mutiny, he told them that he (Banjo) and some senior military officers “…had tried to influence Ironsi to assume the leadership of the Government” In his 1999 biography of AguyiIronsi, “IRONSIDE” the journalist, Chuks Iloegbunam quoting one of the participants, Brigadier Hilary Njoku, named those military officers who met and decided to overthrow the government. They were “ MajorGeneral J.T.U Aguyi-Ironsi,(GOC) Lt-Col Francis Fajuyi, Lt-Col Victor Banjo, Lt-Colonel Jack Gowon, LtCol George Kurubo, Major Patrick Anwunah, Commodore Wey of the Navy and Lt-Col Njoku” One of the Ministers, Chief Richard Akinjide narrated in July 2000 how Ironsi carried out this coup: “Having nominated ZANA Diphcharima as our acting Prime Minister in the absence of the Prime Minister, whose whereabouts we didn't know, we approached the acting President, Nwafor Orizu to swear him in because he cannot legitimately act as the Prime Minister except he is sworn- in. Nwafor Orizu refused…….The GOC said he wanted to see all the cabinet ministers. And so we assembled at the Cabinet Office. Well, I have read in many books saying that we handed over to the military. We did not hand-over… Ironsi told us that "you either hand over as gentlemen or you hand-over by force". Those

shown how to pick a strawberry which you then put in the bag or basket given to you. At first we Nigerians thought this was easy work, some of us were from the farms, and others did farming in school. At 7am, we all start off: you would see small white girls and boys go at the strawberries like rabbit – picking and begin to fill their baskets. We Nigerians, Tom and Eddie, would try to keep up. Before they got to ½ of the allotted rows the white boys had finished and were returning their baskets, to take another basket and attack another row of strawberries. By 10am the white boys and girls would have a 10 minute break to drink tea. Tom, Eddie and other Nigerians would look at themselves, their back and waists shut to pieces, but have not picked up one basket. We collapsed; go back to the beginning to tell the fore man we cannot do it. But since we were paid according to the number of full baskets of strawberries none of us got paid. The fore man at one farm had asked us whether we really wanted to work at picking strawberries because in his experience he had never seen a Nigerian complete one day of picking with a full basket. Ben and I after the freezing works, decide to do three hours work every other night at a biscuit factory not far from where we lived. The factory was almost fully automated - the flour came in, was mixed, cut, sugared, baked and packetted – all on a conveyor belt system. My job was to look at the machine that certified that the biscuit had been properly packetted and sealed. I had to press a button to certify inspection for the conveyor to move. This is a mind numbing job, you may doze while standing or your concentration may waver or you may not press the button hard enough, any of these infractions would cause an alarm and the red light on my spot would flash. “Patrick asleep again”, “No, I replied, I was lighting my pipe”. Ok, all systems go. ‘’Ben was at the very end of the factory – all the biscuits had been packetted, labelled, put in cartons. His job was to move the cartons on a wheel barrow from the end of the factory to the

were his words. Is that voluntary hand-over? So we did not hand-over. We wanted an Acting Prime Minister to be in place but Ironsi forced us, and I use the word force , to handover to him. He was controlling the soldiers” Another member of the Ministers Council, Alhaji Shehu Shagari (later President) narrated a similar experience in his book BECKONED TO SERVE, “We, therefore, drove to the residence of Dr. Orizu, and requested him to appoint Dipcharima acting Prime Minister…….When we reminded Major-General Ironsi if he needed to avail himself of the British pledge of assistance, he replied it was too late as the army was pressing him to assume power. Indeed, he confessed his personal reluctance to take over because of his ignorance of government; but insisted the boys were adamant and anxiously waiting outside. He advised it would be in our interest, and that of the country, to temporarily cede power to him to avert disaster.” Under military threat, with some Ministers like Kingsley Ozumba Mbadiwe and Adeniran Ogunsanya marched to the meeting by soldiers, the Council of Ministers wrote a surrender of power to the military. It can be argued that since the Majors coup dove-tailed or apparently led to the senior officers opportunist seizure of government the next day, it was one and the same coup. I do not agree; what is military coup but an opportunistic seizure of power. Secondly, the two groups were different in ideology, motive and objectives. Ironsi and his fellow officers who seized power on January 16, 1966 were coup plotters and that is the fact our history books should reflect.

waiting truck about 6 feet away. Needless to say in the three hours we worked, there were at least six stoppages due to the fault of either myself or Ben. There were other jobs Nigerians did – Traffic Wardens, shop assistance – (all demanding standing for no less than eight hours), car washers, taking care of the elderly in old peoples' homes, the post offices and mortuary assistants, underground ticket collectors, sweepers etc. I am not going to tell you what our women and girls went through while working in the old peoples home. It is better imagined than described. I would end by telling you some of our experiences working in the post offices and in mortuaries. Working in the Mortuary of a large city hospital is probably the worst experience. You arrive at work just before midnight. You have to wear thick plastic aprons, wellington boots and large thick gloves. You were usually alone. The Corpse comes in to be hosed down, and put in body bags already tagged. Most bodies look actually dead and the expression on the faces confirms this. You sing all the songs you know in your mind to put off the crudest job imaginable. In some mortuaries the bagging is carefully automated so that there is no confusion whose body you are dealing with. Some bodies however do not look dead. Some have over silly smiles on their faces; some have one hand raised, some have a quizzical look, which seems to say to you, are you alone? You want to join me? This of course is the fetid imagination of a tired mind. The last time I was there, a dead body had a smile and an arm rose up. I never returned to collect my pay. Tom once had a job on repairing of roads. He was given a hand held mechanical digger and concrete breaker. He lasted half a day and sometimes still shakes till now. So when I see thousands at the Embassy going to the US or UK or Europe, I have a little laugh to myself; “Dis people dem no know nothing. Dem go suffer.”

*Dr. Cole, a former ambassador, wrote from Lagos.

34—Vanguard, MONDAY, FEBRUARY 15, 2016

VERY administration enjoys its share of honeymoon after assuming power. The allure of newness and expectations are high during this period, and the people are willing to overlook and excuse little blunders here and there. But months down the line, one or two major things happen, and the honeymoon is over. When former President Goodluck Jonathan took over in 2011, his trajectory from Deputy Governor to Governor and from Vice President to President was a major talking point during his honeymoon. His being the first ethnic Minority Nigerian to recieve the overwhelming vote of the electorate, even when ranged against powerful Northern opponents was something people found inspiring. But the moment he attempted to remove the petroleum subsidy starting from January 1, 2012, the romance quickly vanished. Unfortunately, Jonathan backed off from completely removing the subsidy, with the resultant effect that Nigeria went on to spend over two more trillion Naira on fuel subsidies; an amount that could have turned around the massive infrastructure deficit of the country if properly invested. President Muhammadu Buhari came on the crest of what some romantically termed: “Change Revolution”. It was the first time a sitting president seeking a second term was voted out in Nigeria and he left without making any fuss. In Africa, it was the second time it ever happned, following the noble example of former Senegalese President, Abdoulaye Wade, who conceded victory to his former Minister, Macky Sall, on Monday 26th March 2012. Even if the election that brought Buhari in was not that copasetic (what with millions of under-age voters and non-use of the card reader in the Muslim North, his main political base), the transitional process was second to none. This was obviously why many newspapers awarded both the former and incumbent presidents their joint Man-of-the Year 2015. On assumption of power, Buhari’s media magicians, notably Femi Adesina (alias Kulikuli) and Garba Shehu, stoked his mystique with fairytale characterisations: “the New Sheriff in Town”, who accomplished great feats of change through his “Body Language”, feats which were fondly attributed to “The Buhari Effect”. You will recall that as soon as Buhari was announced winner of the presidential election, the Naira, which was going for 228 against the US Dollar, appreciated by seven percent to 211. His supporters boasted that if he could achieve

Buhari’s rapidly vanishing mystique this without lifting a finger, then his campaign promise to make the Naira equal to the Dollar would be accomplished before long. But today, the story is different. At the last check, the Naira exchanged for the Dollar at 313: 1, with many proffering the bleak prognosis that we might be headed eventually for 500:1 or an outright devaluation (which Buhari’s Western backers have asked him to do). In June 2015 the comatose refineries suddenly restarted refining petroleum products without the regime spending a kobo. Today, Kaduna and Port Harcourt refineris remain shut and will not resume production till end of this month. While “the Buhari Effect” held sway, there was a noticeable improvement in power supply, even when the new leader had not made a policy pronouncement on which way his cat was going to jump. Some even claimed they now had between 18 to 24 hours of power supply a day. They forgot that this was the cool and rainy season when, traditionally, the hydrothermal plants were full with water which results to more available megawatts for the national grid. What do we have

Buhari’s trusted civil servants who orchestrated the disgrace of former Health Minister, Professor Adenike Grange (she has since cleared her name in court) are the ones who want to scam us once again through this Budgetgate

now? The power supply has nosedived, though the administration has reported that we have crossed the 5,000 megawatts threshold “for the first time”. The Power Distribution Companies (DISCOs) which bought over the assets of erstwhile state monopoly, Power Holding Company of Nigeria (PHCN), on February 1, 2016, made good their threat to raise electricity tariff by 46 percent. Nigeria’s Organised Labour, which had been in hibernation since Comrade Adams Oshiomhole stepped down as Nigeria Labour Congress (NLC) President, also made good their threat to picket their offices nationwide. That is the most poignant sure sign that the honeymoon is over. This honeymoon usually stops when concrete governance starts. However, the power tariff hike is a small thing compared to the great damage to the Buhari administration’s image which the 2016 budget saga is beginning to turn up. The insanity of the 2016 budget is twofold. On the one hand is the massive amount of corruption (paddings, duplications) which are being unearthed at the House of Representatives and the Senate. The second is Federal Government’s inability to discover these crooked intents to steal our public funds right under the nose of an anti-corruption president, which reeks of gross incompetence from the Budget Office and the Federal Ministry of Finance to the Presidency. Not only that, an aide of the President, Senator Etta Enang, has been accused of being behind the tampering with the budget which President Buhari presented before the National Assembly. The confusion and corruption surrounding the budget is so much that one of the Ministers, Prof. Isaac Adewole, who is in charge of the Health Ministry, openly disowned his ministry’s budget when he was supposed to defend it before the Legislature. He said “rats” (which are also

known as “budget mafia”) had doctored it. Frustrated, the Chairmen of the Appropriation Committees of the House and Senate, announced that the February 25 date for the passage of the budget had been postponed indefinitely. The President has promised to punish the civil servants who were responsible for sabotaging the budget and using it to paint his administration in corrupt colours. We wait to see. Buhari’s Budgetgate exposes an irony. Remember, during the four-month delay in naming his cabinet, Buhari betrayed his confidence on bureaucrats and disdain for ministers. He told France 24, a television station and I quote: “No. It is what we know – and which we learned from the Western system. The civil service provides the continuity, the technocrat. And in any case, they are those that do most of the work. The ministers are there, I think, to make a lot of noise.... But the work is being done by the technocrats. They are there; they have to provide continuity, dig into the records and then guide us who are just coming in”. Buhari was heavily criticised (I lent my voice to it here) for making it seem like ministers are unimportant. Is it not an irony that the same civil servants on whom Buhari depends for “guidance” are now the ones corrupting his first budget with a view to stealing public funds? Buhari’s trusted civil servants who orchestrated the disgrace of former Health Minister, Professor Adenike Grange (she has since cleared her name in court) are the ones who want to scam us once again through this Budgetgate. Nine months into his regime, our President, who is permanently on foreign tours, no longer possesses the body language to deter civil trusted servants from attempting to loot the treasury. They are no longer deterred by the exploits of the Economic and Financial Crimes Commission (EFCC) which is grabbing people, detaining them, arraigning them and sealing up their properties. In fact, it has come to a point where Buhari will criticise the Judiciary and the Chief Justice of Nigeria and the Nigerian Bar Association will answer back. Boko Haram, which had been ‘“technically defeated” resumes invasions of communities and a rash of suicide bombings. It has become obvious, even to Buhari’s ardent supporters that governance is not a fairytale; it is not a daydream. You must do the work and do it well. In this our democracy, whatever you sow, you will reap.

OPINION Edo 2016: Beyond primaries By Igbotako Nowinta “It is time for change,we need our own system.The past has taught us what we must inevitably do today and tomorrow.We must work for a new order’’- Nowinta’s book;2009:Where We Are (page 104). VEN the blind,the deaf and the imbecile know perfectly well that sooner than later a new sheriff (Governor) will be elected in Edo State this year, and the lucky chap will be sworn in on November 12,2016. This is because the way some politicians in the dominant two political parties ( Peoples Democratic Party,PDP and the All Progressives Congress, APC) are carrying on as though there will be no life after the party primaries or governorship election. The other day I received a text message from one of the governorship aspirants during the yuletide celebrations in December 2015 wishing me and my family the best of Christmas season, and a wonderful New Year. I laughed loud and long as soon as I saw the good will message because I knew down deep in my mind that the guy who sent the message to me did not mean what he wished me. That particular governorship aspirant is a hard guy, uncaring,selfish and self centred;he is somebody with a jaundiced reputation in town,who do not care a hoot about his next neighbour. But because he is desperate to get noticed he had to familiarise himself with the electorate by hook or crook. Is it the ‘war’ game that has started on the internet via face book,Whatsapp, etc,where citizens have gone gaga trying to outsmart one another in projecting their choice

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candidate? Some governorship aspirants have equally gone reckless and mean in trying to showcase themselves to the public via the social media. Given what we have seen during the party primaries in Delta,where Dr. Emmanuel Uduaghan, former governor, of the Peoples Democratic Party,(PDP) failed miserably to impose his much cherished ‘candidate’, on members of his party,while Senator Ifeanyi Okowa surprisingly shot himself up to gigantic reckoning,anything can happen during party primaries in Edo State this year. The implication of any aspirant trying to ride through the back of some infuencial party stalwarts or jump the fence of transparency in order to snatch party flag is most likely to have a back lash during the forth coming party primaries in the State. The reasons for this is not far fetched!Edo state of today is not that of 1999 or 2007.The people The two political have under gone some hard tutorials in the process of parties must not making their choice for the allowed battle to win the highest political themselves to be trophy in the land. I don’t think the the good bought over by people of Edo state have forgotten the sad fact that the selfish and political godfathers had an empire to keep and protect in parochial money Edo state;and that a freely bags organised people was the direct

antithesis of the evil idea of empire and a colony. The tragic fact then was that the downtrodden masses of Edo state were not given needed space to adequately promote and project their interest.That largely contributed to the level of rot and decay which Edo state sank into in April 2007. Therefore,Edo people were consoled by the fact that Comrade Adams Oshiomhole,the former indefatigable president of Nigeria Labour Congress (NLC)indicated his interest to wrestle political power from the godfathers,their cohorts,acolytes and foot soldiers. As a result of these historical facts the party primaries must be such that nothing but the best candidate should be allowed to emerge via transparent,open,orderly and credible process.This is important because Edo state must never be allowed to slide back to pre-Oshiomhole days. Lest we forget what befell the APC in Bayelsa state? Certainly, Timipre Sylva was not the best guy for the governorship election! What happened? He lost woefully. Beyond the forth coming party primaries, an experienced, matured, independent minded, intellectually tested, pragmatic and people oriented, focused guy must be fielded before the electorate. Party leaders and rank and file members who will make the list of delegates during the primaries of the dominant two political parties must not allow themselves to be bought over by selfish and parochial money bags. The good people of Edo state deserve no less because it will be tragic if a wrong candidate emerges as governor on November 12th, 2016. Engineer Chris Ogiemwonyi to me has the character and qualities Edo state needs in the forth coming election. Mr. Nowinta, an author, wrote from Benin City, Edo State.

Vanguard, MONDAY, February 15, 2016 —35

Accelerating growth T

HERE exists a certain global community of CEOs. They believe that they possess the unlimited capability to learn and to develop themselves. Their ultimate goal is to share knowledge and experience and thus create a better world. In that league belongs Segun Ogunsanya, the helmsman of Airtel Nigeria. In his spacious and sparsely furnished office on Banana Island overlooking the Lagos lagoon, Ogunsanya told me: “I learnt very early from my father that one of the key elements of growing is your capacity to learn.His key principle is: ‘Knowledge is weightless. You can carry it anywhere you go.’ He also observed: “Knowledge is perishable. If you don’t keep renewing your knowledge, it’s going to go out of date”. The strategy of renewing knowledge at every key turn in life has indeed been manifest in his seamless approach to the navigation of his career. Ogunsanya started out as an electrical engineer before venturing into accountancy. Prior to his current role at Airtel Nigeria, he had been CEO of Coca-Cola in three countries – Ghana, Kenya and Nigeria. Ogunsanya exudes enthusiasm and versatility. He finds that change has been seamless for him as he moved from selling Coca-Cola beverages to telecoms airtime “That’s because of my capacity to learn. And I really don’t care where the learning is coming from. I just think that if you’re ashamed of learning you’re not going to grow,” he asserted.

Segun Ogunsanya CEO, Airtel Nigeria subscriber base in Nigeria. With this feat, Airtel now enjoys a huge slice of the mobile subscribers’ market in Nigeria, controlling 20% of the total market share. Airtel’s precursor company, Econet Wireless, is the pioneer of the GSM revolution in Nigeria. This reason largely accounts for its strong presence in the Nigerian telecoms space. According to statistics from the Nigerian Communications Commission, the number of mobile subscribers spiralled from 144 million in May of that year to 146 million in June 2015. Following this lead, Mobile operators upped their n e w subscribers by 2.1 million in June 2015. T h e subscriptions to fixed

Profitable business On his assumption of office as Airtel CEO in November 2011, his mandate was to create a good environment for “employees to deliver their best”, create a viable and profitable business and be among the key operators in the market place. He elaborated: “To a very large extent, we’ve delivered on those objectives. And I would like to salute my colleagues and my leadership team who all supported me in achieving almost all the core objectives that were given to me when I took over the leadership of this company.” In the past year, the great milestone for the company was the acquisition of a 30 million C M Y K

•Segun Ogunsanya

networks soared from 181,625 in May 2015 to 182,643 within the same period. “Crossing the 30 million mark is a major threshold for us,”Ogunsanya says, adding, “and of course, we are very appreciative of all our customers who made it possible.” On the heels of the company’s milestone achievement came a number of complementing awards. They include the highly coveted Customer Friendly Operator of the Year Award. The award was bestowed on the company for the fourth consecutive time for its consistently robust service platforms that b o o s t s customer experience, in addition to its bespoke, innovative and affordable v a l u e offerings. The company was also recognized

by the Association of Telecoms current position, Airtel has had Companies of Nigeria when it to deal with many problems. bagged a merit award for its Ogunsanya explains that the pioneering investment in the company is grappling with a Nigerian telecommunication number of industry issues which industry. Airtel’s winning streak are not unique to his company: is also brought to the fore by its “We have issues of multiple Corporate Social Responsibility taxation at different levels (local reputation. Since its inception, government, MDAs, state federal the company has recognized the government, importance of being socially and government) and we are working environmentally conscious. with all the stakeholders to Consequently, it has often taken minimize the pain of having to on charitable initiatives. Chief pay different taxes to different amongst its CSR initiatives is the authorities at the same time. Airtel Touching Lives programme That’s a major issue for the whose aim is to “enrich Nigerians industry,” he explains. The advent of Global Systems and provide succour to underprivileged members of society”. for Mobile Communication Touching Lives proclaims what (GSM) in 2001 came with great the company is, what it believes economic benefits as well as some in, and how it is doing business. backlash and implications. Nigerian state “Touching Lives is governments unique and very believed that different from Te l e c o m s what has been Our key weren’t giving done in the past”, enough back to Ogunsanya says indices for a society from of the initiative. driving which they “It’s not so much growth made huge about money for profits. This exposure but includes led to the about doing priortizing imposition of things for those multiple who can’t pay us rural taxation. In back. What we do markets by recent months, is to ask different there has been stake holders to way of a hue and cry s e l e c t roll-out from Nigerian communities, telecoms individuals and operators. This causes that are resulted in the very important to them. And then, we step in by Nigerian Governors Forum mitigating the pains of the people (NGF) and the Nigerian and community involved so as Communications Commission to make that cause very meeting to explore ways to check productive, he adds a case-in- multiple regulation and taxation point, he says: “One of the first in the telecommunication causes we supported was that of industry. The Convener of the meeting, the boss of the Nigerian a man whose son was crippled. “He is a vulcanizer, so each Communications Commission, morning before resuming his Professor Umar Garba Danbatta, work routine; he would carry his is himself optimistic that other son to and from school on his government agencies are being back. We stepped in by providing carried along in order to improve relationship with a wheel chair for the crippled the son, making it easier for the man telecommunication service providers who are the victims of to ferry his son to school. multiple taxes and regulations. On this, Ogunsanya expresses Providing a satisfaction. “We are working with wheel chair government in terms of multiple These are the kinds of things taxation as there are different we do through the Touching bodies set up by different key Lives Initiative. We cannot players in the industry to engage always completely transform all the authorities. We now have lives, but simply make it easier a unified taxation mechanism that for people and communities to is still a work in progress. “Faced with all these cope with their problems with challenges, the company still finds greater ease. I must also commend my good-hearted ways to continue to expand the colleagues for also supporting network and invest in quality people,”he Airtel CEO said. causes voluntarily. Ogunsanya sees this as “a key “They take money from their salaries, donate clothes and their indices driving growth”. Driving time. I believe that a great growth also means prioritizing company must be a good rural markets by way of roll-outs. company. And for you to be a .” Though he admits Voice good company, you must initiate revenue remains stable, most of good programmes for your the growth he sees in the industry communities. I’m very excited is coming from data. “It’s already about the positive things we’ve happening in many other been doing to support people and economies but it’s very slow here mainly because we don’t yet communities.” Winning is not just a sudden have a sufficiently expansive occurrence for Airtel. Like fiber network that can create a Ogunsanya, the company has good data quality experience. been through several learning But as we evolve and put more curves. Starting out in 2001, the investment into the fiber company has morphed through infrastructure, I’m very optimistic name changes – Econet, that data will begin to drive most Vodafone, V-Mobile, Zain and of the things we do in this now Airtel. Since reaching its country,”he said.

36—Vanguard, MONDAY, FEBRUARY 15, 2016

Caucus, BoT, NEC may ratify 6-month period for new chair from N-East

PDP CRISIS:

By Henry Umoru

BUJA—STRONG indications emerged weekend that the new chairman of Peoples Democratic Party, PDP, would spend six months in office, if the political intrigues going on at National Caucus, Board of Trustees, BoT, hold sway tomorrow. The North East geo-political zone is expected to produce the chairman. A source told Vanguard that the matter would be pushed to the National Causus today as well as the BoT and onward passage to the National Executive Committee, NEC, meeting tomorrow for ratification. According to a high ranking member of the party's NEC: “We are going to present before the National Caucus and the Board of Trustees, BoT for an approval that there should be a longer period for the new national chairman of the party, at least for six months to enable him learn on the job and deliver. We are already in the middle of February, next month is March which is too short." The party had last week, for the third time in two weeks, shifted its NEC, meeting. In a statement by PDP National Publicity Secretary, Chief Olisa Metuh, the NEC meeting would now hold tomorrow. Before the NEC, National Caucus of the party would hold its meeting today, while that of BoT, would hold tomorrow before NEC. Metuh had said: “In view of requests by critical stakeholders and leaders of our great party, the National Working Committee, NWC, has approved the shifting of the meetings of key statutory organs of the party earlier scheduled for this week (last week) to next week (this week). “In the new schedule, the meeting of the National Caucus of the party has been shifted to Monday, February 15, 2016, at 7pm. In the same vein, the

meeting of the Board of Trustees, BoT, will now hold on the morning of Tuesday, February 16, while the National Executive Committee, NEC, meeting will hold at 2pm on the same Tuesday, February 16, 2016. As PDP NEC meets tomorrow, Vanguard gathered that the North East would present six names, including former Minister of the Federal Capital

Territory, Mr. Abba Gana, from Borno; Ambassador Wilberforce Juta from Adamawa State; National Vice Chairman, North East, Senator Girgiri Lawal from Yobe State; former Chief of Staff to ex- Governor Isa Yuguda of Bauchi State, Shehu Gabam and Senator Saidu Kumo from Gombe State. According to a source, Taraba State has no candidate as it is said to be pushing for Wilberforce, the former governor

of the defunct Gongola State already endorsed Ambassador Juta for the position. It would also be recalled that prior to the 2012 National Convention, the position of national chairmanship position of the PDP was zoned to the NorthEast and Alhaji Bamanga Tukur from Adamawa State was elected, but later resigned for Adamu Muazu from Bauchi to replaced him.

VISIT: From left: Vice President Yemi Osinbajo; Chairman, Association of Licensed Telecommunications Operators of Nigeria, Mr. Gbenga Adebayo, and Vice President, Regulatory and Corporate Affairs, Etisalat Nigeria, Mr. Ibrahim Dikko, during a visit to the Vice President at the Presidential Villa, in Abuja.

NLC accuses senate leadership of undermining labour movement in Nigeria By Victor AhiumaYoung

BUJA—NIGERIA Labour Congress, NLC, weekend accused the leadership of the Senate of undermining labour movement in the country, by holding discussions with certain individuals pretending to be representing workers in the power sector to find solutions to the problems in the sector. Congress in a statement urged the Senate and the National Assembly to stop every unholy romance with these individuals on issues in the power sector without involving the leadership of the unions in the sector, lamenting that this development

was unfortunate and a futile attempt by these individuals to hijack the sector for their selfish motives NLC in the statement by the Deputy President of Joe Ajaero faction, Achese Igwe, insisted that the National Union of Electricity Employees, NUEE, and the Senior Staff Association of Electricity and Allied Companies, SSAEAC, remained the two unions within the power sector, contending that any agreement reached without NUEE and SSAEAC would not be binding to the workers in the sector. The statement read in part: “We know that the Senate may have meant well and is desirous of resolving all public interest issues arising out of all sectors of the nation’s economy of which the Power sector is one of them. We also acknowledge and appreciate one of the key roles of the National Assembly which is its oversight func-

tions over the activities of the Executive arm of Government. In exercising these functions we urge the Senate not to allow itself to be misled into being used by some individuals to achieve certain hidden agenda. This is to protect the Senate from being ridiculed and unwittingly dragged into the on-going crisis within the NLC. “The Senate President should know that the NLC presently has two factions with each having a complete set of organs and officers thus capable of engaging any of our Social partners on any issue effectively nation-wide. He has to be remindedthatthoughwearemaking efforts toward reconciliation, we are still unfortunately factionalised." Continuing with these discussions in this context and structure will be viewed by us as a conscious effort by the Senate to undermine us and collude with fourth columnists to scuttle the on-going reconciliation effort within the Congress and keep Nigerian workers and the movement perpetually divided to the benefit of the ruling elite and employers.” He added that “Nobody should be deceived of the degree of our capacity to protect ourselves."

Emulate Kano in agriculture, Ogbe urges govs By Jimoh Babatunde

ANO—MINISTER of Agriculture and Rural Development, Chief Audu Ogbeh, has called on state governors in the country to emulate Kano State in its efforts at boosting agriculture, food security and providing jobs for jobless citizens. Speaking in Kano during his tour of agricultural projects supported by Kano State government, the Minister said “Nigeria has to feed her citizens and other countries. There is a request for 37,000 metric tons of maize at N4.2 billion by Namibia. Food business is now the biggest in Nigeria. It is time for the farmers to be legitimately rich.” Ogbeh accompanied by Governor Abdullahi Umar Ganduje, commissioned 1,000 boreholes across 24 local government areas of Kano State, as part of initiatives by the state to encourage farmers to produce more wheat under its commercialagricultureprogramme. Commissioning the boreholes at Alkamawa in Bunkure local government area, Chief Ogbeh said “I am personally excited by what I have seen here. I think the revolution in agriculture has started, and I am looking forward for the day whenNigeriawillbeginsellingwheat and not importing wheat.”

Yohanna wins Adamawa re-run election

By Umar Yusuf

OLA—IMMEDIATE past Commissioner for Trade and Cooperative, and Candidate of the All Progressives Congress, APC, Talatu Yohanna , has emerged winner of the re-run election for Demsa/Numan/Lamurde federal constituency, Adamawa State, held weekend. Yohanna defeated five other contenders in the contest. A court of Appeal in Abuja had annulled the election of Kwamoti La’ori of the then Social Democratic Party, SDP and ordered a re-run within 90 days excluding his party, SDP. This forced Loari to cross carpet to Kowa Party and subsequently emerged its candidate. Declaring the results yesterday in Numan, the Independent National Electoral Commission, INEC, constituency returning officer, Dr. Pascal Timtere, announced that YohannaofAPCpolled24,126votes, Micheal Zidon of the Peoples Democratic Party, PDP, got 11,513 votes, and Kabiru Garba of the CPP, Citizen Peoples Party scored 222 votes.

VANGUARD, MONDAY, FEBRUARY 15, 2016 — 37

Rivals trade blows in Republican debate T

HE Republican candidates for president traded sharp blows over foreign policy and the future of the Supreme Court in an often unruly and chaotic debate. After Iowa and New Hampshire, the race has now moved to South Carolina before the 20 February primary. Front-runner Donald Trump repeatedly tangled with Texas Senator Ted Cruz and former Florida Governor Jeb Bush in a series of tense exchanges. The lively audience repeatedly jeered and booed the candidates. As the candidates shouted down and interrupted each other, CBS moderator John Dickerson warned: “We’re in danger of driving this into the dirt.” Mr Trump and Mr Bush clashed over the war in Iraq and President George Bush’s role during the 11 September attacks. Jeb Bush responded robustly to Mr Trump’s attacks, a departure for

the former governor who originally sought a “joyful” campaign. “We should have never been in Iraq." “They lied. They said there were weapons of mass destruction. There were none and they knew that there were none,”

Mr. Trump said. Mr Bush pushed back, defending his brother who will soon join Mr Bush on the campaign trail before the pivotal South Carolina primary. “I’m sick and tired of Barack Obama blaming my brother for all the problems that he’s had

and frankly I could care less about the insults Donald Trump gives against me,” Mr Bush said. Justice Scalia’s death was addressed early on in the debate most of the six candidates saying the next president should choose his replacement.

U.S. commander sees al Qaeda Africa group strengthening

WO high-profile strikes in West Africa since November by al Qaeda in the Islamic Maghreb (AQIM) could further strengthen the Islamist militant group, a U.S. commander for North and West Africa said. AQIM, a militant group that emerged from the Algerian civil war in the 1990s and is now mostly north Mali-based, is emerging from a period of near dormancy marked by factional infighting. The group, linked to veteran jihadist Mokhtar Belmokhtar, claimed two hotel sieges in the Mali and Burkina Faso capitals in November and January

that killed dozens, including many Westerners, proving its ability to strike further south. Some experts say the urban attacks, and a slew of recent propaganda, may be a bid to compete with ultra-hardline group Islamic State, which now has a base in Libya. “(The hotel attacks) raised the profile of the group and will help the group do a (few) things,” said Colonel Bob Wilson, Third Special Forces Group Commander, in an interview with Reuters and The New York Times in Dakar this week. “One, show that it’s still

relevant. Two, help it to recruit personnel and commit resources. And three, create the impetus to do more attacks like that,” he said on a visit to Senegal during the annual U.S.-led ‘Flintlock’ counter-terror training programme in the Sahel region. The United States has its own Africa Command with between 1,000-1,200 forces on the continent at any given time, mostly in training and support roles. Wilson’s North and West Africa command is the largest of three regional groups, with around 500 deployed across a dozen countries.

Syria: France urges end to Turkish assault on Kurds F RANCE’s foreign ministry has urged Turkey to end its assault on Kurdish fighters in northern Syria. In a statement (in French) it said it was “ worried about the continued worsening of the situation”. On Saturday, Turkey began shelling the militia, which it says is linked to the banned Kurdistan Workers Party (PKK). The fighters - the YPG militia based in Syria have rejected Turkey’s demand to leave areas it has seized, saying Islamists would return if it left. Turkey ’s assault is a new thread in an already-complex conflict that has drawn in competing regional powers. A statement on Syria’s state news agency also condemned Turkey ’s intervention, calling it “outrageous violation of international law”. France also called on the regime and its allies to stop their bombardments “across

the whole of the country”. France said priority should be given to implementing an agreement reached in Munich this week, and the fight against socalled Islamic State (IS) group. Almost five years of civil war in Syria have led to the deaths of more than 250,000 people. About 13.5 million people have been displaced. Attempts to broker a peace deal have repeatedly failed, but on Thursday, world leaders agreed to work towards a so-called cessation of hostilities in Syria within a week. The US and Russian presidents agreed in a “frank and business-like” phone call to work more closely to achieve this, the Kremlin said on Sunday. Russia, an ally of Syrian President Bashar al-Assad, has been carrying out airstrikes since September against what it terms “terrorists”.

38—Vanguard, MONDAY MONDAY, FEBRUARY 15, 2016

Oshodi Market demolition:

We lost N50 billion —Traders By Esther Onyegbula

EEKS after, the dust raised by the demolition of Owonifari Market in the Oshodi area of Lagos has seemingly refused to settle as several traders whose shops were destroyed continue to lament and count their huge losses. The bitterly aggrieved traders have also rejected explanation by the Lagos State Government that the demolition was necessary and therefore inevitable. They are instead alleging that the action was politically motivated, while bemoaning their losses. According to the Chairman of the market, Chief Matthew Ohazurike, the traders are presently disoriented as they struggle to come to terms with this unexpected development. He said: “To say that we are suffering and struggling to survive is an understatement since our businesses and means of livelihood were demolished by the Lagos government in a quest for political vendetta.

Political vendetta We learnt on good authority that the Lagos state government carried out the demolition because of allegations that we are using the market to mobilise Igbos to protest for the creation of Biafra. We also learnt that the market was demolished because Igbos voted en mass for the Peoples Democratic Party, PDP, in the last general election. I have been in this market since 1978 when the market was built and there is no occasion we discussed Biafra.Most of our traders are members of APC (All Progressives Congress) and were present when Governor Akinwumi Ambode was inaugurated. It is disheartening that we were made to suffer for political reasons. We lost goods worth over N50 billion. We demand that the government rebuild the market and allocate it to the traders and pay us compensation for the goods we lost”. The spokesperson for the market, Dr. Asomba Alphosus said the market was demolished despite a court injunction. “It is not true that we refused to be relocated. We had two meetings with state government officials: the first time our former chairman, Samuel C M Y K

Ayanda, was allowed to see the Governor as security officials did not allow other executives to see him. Ayanda came out and told us that the Governor asked why we were still in the market. “Later the Commissioner for Community and Local Government Affairs said the Governor insisted that the market will be demolished. We were shocked when Governor Ambode gave us two weeks to relocate to the Isopakowado Market. We cried out that two weeks was too short for us to relocate and we pleaded for more time. Moreover, government is still building the Isopakowado market. The Owonifari Market was built in 1978 by former military governor of Lagos State, Ndubisi Kanu. When the market was razed by fire and we came together to rebuild it in 1999, the traders spent N750million. “Sadly, a provender and estate developer in Lagos started harassing us in a bid to take over the land. The matter was brought before former Governor Babatunde Fashola and he told us to go ahead and remodel the market to the standard of the Lagos Model City. We were at the verge of rebuilding when a change of government took place. When we held the meeting with the Ambode administration, we showed the government the plans to remodel the market but Governor Ambode turned it down and insisted we relocate. “Government’s allegation that the Owonifari Market is a den of robbers is not true because we had a task force on security with over 20 guards at night. We are lawabiding and the Fashola administration gave us award as the best market in terms of payment of tax-

We lost goods worth over N50 billion; we demand that the government rebuild the market and allocate it to the traders and pay us compensation for the goods we lost

*Matthew Ohazurike

*Chief Augustine Nduba es. But in spite of this, the Ambode government went on to demolish the market despite a court injunction pasted all over the market and served to the government. The demolition was carried out in the dead of the night when traders had travelled home to the Eastern part of the country for festivities because 98% of the traders are Igbos. The few traders who heard about the demolition, rushed to salvage their goods but they were teargassed, arrested, manhandled and locked up by security agents. We will fight this injustice in court. We have already instituted the case in court seeking redress.” A 65-year-old trader, Chief Augustine Nduba said: “We heard rumours that the government was going to demolish the market on the 4th of January. I had seven shops where I sold electronics appliances. I rushed down to the market with my three children to salvage my goods. I met other traders trying to remove their goods. As soon as we started removing our goods, we saw security men jumping from the decking of the building and they pointed their guns at us. They threw two teargases and my

*Dr. Asomba daughter fainted. They picked a standing fan and hit one of my children on the waist and he fell down. I screamed, but one of the security men slapped me and opened my mouth. The others held me down and poured teargas into my mouth. The security men dragged me into their Black Maria van. I was unconscious and they took me to the Task force office at Alausa where they kept me and other traders for three days. The security operatives seized our phones and none of us could reach our families. They denied us food and water. It was after members of our executive gave them money that we were released after we had been made to sign undertaking not to return to the market. By the time I went back to the market, all my seven shops with goods worth millions of naira had been demolished. I am now in a fix and in desperate need for cash to restart my business”

Similar bitter experience Another trader, Chidiebere Arawusi, who claimed to have lost his two shops also narrated a similar bitter experience. He informed that he and his sales girls were also beaten and arrested by security operatives when they went to salvage goods from his shops. “They beat us and threw me and other traders into a Black Maria van. We were about 20 traders, including our chairman Samuel Ayanda. We were in that cell for three days without food and water. I lost everything, including my land papers, and other very important documents.

I don’t know how to raise money to start all over, “ he lamented. Chibuzor Onugha, the Secretary of the market said he lost goods in his four shops. According to him: “I travelled to the village but when I came back, I saw my shops where I sold electronics appliances in ruin. I lost more than N50million.” For Ejezike Nwadiba: “I had four shops at the market. I travelled to the East but when I came back, my shops with goods worth millions of naira, had been demolished. I have nothing to fall back on. I need help to start all over”.

Adequate notice The State government, however, insisted that the traders were given adequate notice about the demolition. The Lagos State Commissioner for Information and Strategy, Mr. Steve Ayorinde, denied allegations that the demolition was politically motivated. Ayorinde who spoke during a joint press briefing addressed by the State’s Ministries of Information and Strategy, Environment, Physical Planning and Urban Development, Local Government and Chieftaincy Affairs, and the Office of Civic Engagement said the relocation of the traders to the newly built Isopakodowo Market in Bolade-Oshodi was in the overall interest of public good, safety and security. Ayorinde said: “It is important for people to note that the issue of the market had been on for nothing less than ten years. Government had been engaging the leadership of the market to make them realise that it could no longer continue in the manner in which the market was being used. Goods were not destroyed in the demolition exercise. Such a claim was far from the truth”.

Vanguard, MONDAY, FEBRUARY 15, 2016—39

WIG faults Urhobo DESOPADEC commissioners’ oil production claim W

By Emma Amaize

ARRI—WARRI Interest Group, WIG, in Warri, Delta State, weekend, challenged the comment by the commissioners representing oilbearing communities of Urhobo ethnic nationality in the Delta State Oil Producing Areas Development Commission, DESOPADEC, that they produce more oil and gas than Itsekiri, Ijaw and other ethnic nationalities in the state. National Coordinator of WIG, Mr Alex Eyengho, in a statement, described the recent position by the commissioners and a few Urhobo leaders as bogus and mischievous, warning that it was capable of disrupting the relative peace and togetherness among the various ethnic groups in Delta State. He said: “This position by the Urhobo nation, particularly its commissioners in DESOPADEC, is an affront to Governor Ifeanyi Okowa who, on assumption of office in May 2015, restructured DESOPADEC through an executive bill presented to Delta State House of Assembly. “It is laughable on the part of this set of Urhobo people to even think of, not to talk of making, these phantom, unsubstantiated,

unverifiable and provocative statements. Perhaps they assume that once a few oil pipelines pass through your communities, then you automatically become an oil producing community. “Rather than mourn, wail or resort to threats and subtle

blackmail, they should look inward and downsize their workforce in DESOPADEC and save more money for relevant capital projects in Urhoboland. “The Urhobo workforce in DESOPADEC presently is bloated. A lot of those

employed are redundant and certainly have no business idling away and collecting free salaries in the commission. They must stop this idea of employment for employment sake. No, employment must be on needs and value-adding basis.”

BURIAL: From left: Mr. Onochie Anibeze, Editor, Saturday Vanguard; Deputy Governor of Enugu State, Lolo Cecelia Ezeillo; Prof. Chike Anibeze and Mrs. Celestina Okafor, during the burial ceremony of late Thomas Anibeze in his home town, Aguobu Owa, Enugu State, weekend. Photo: Henry Unini.

S-Court judgment: Rivers commissioner fires back at Itse Sagay By Jimitota Onoyume

ORT HARCOURT— RIVERS State Commissioner for Information and Communications, Dr Austin Tam-George, has accused Professor Itse Sagay of being an enabler of the alleged corrupt regime of former Governor Rotimi Amaechi. The commissioner, in a statement yesterday, following the recent attack by Prof. Sagay on the Supreme Court judgment that gave victory to Governor Nyesom Wike of Rivers State, wondered if the Professor of Law was seeking to be what he termed the dubious originator of the sick jurisprudence of “everybody knows,” even without evidence? Tam-George said he could not understand why Sagay would be “re-litigating a settled matter in the street in the manner he did,” adding that Sagay was busy resorting to alleged unsubstantiated hearsay mindlessly peddled by the All Progressives Congress, APC. He condemned the attack by the APC and its alleged fronts on the verdict of the apex court, saying that the state government "will continue to defeat the forces of darkness." He said: “We condemn this carefully orchestrated campaign of calumny launched by the APC

and its cowardly surrogates against Nigeria’s justice system, which is the bedrock of our evolving constitutional democracy. “Working with other

Nigerians and our sister states in the Niger Delta region, the government and people of Rivers State will continue to defeat the dark political fundamentalism of the APC.

We call on the international community to restrain the APC from its desperate attempts to politically dominate our people and plunder the resources of our land.”

PDP suffers setback in Delta ...as over 300 defect to APC

By Festus Ahon

SABA—THE Peoples Democratic Party, PDP, in Delta State has suffered a setback following the defection of over 300 of its members in Aniocha North Local Government Area of the state to All Progressives Congress, APC. Leading the defectors, Mr. Dada Ogoli-Egbune, a former chieftain of the party in the state, said: “Our decision to leave the PDP is because after the party suffered terminal illness at the last general election, it has refused to reform. “I have always hoped that we could help PDP to reform itself but that has not happened. The more we try, the more it seems that the party is terminally ill. So, it came to a point that I think that what is best for me and my people, and what is best for Nigeria, is being in APC which has actually appearred to be charting a path for Nigeria. Although it is slow, I think

Nigeria is on the path of progress. “It is not easy, we must realize that for 16 years the PDP almost destroyed this country and people did not say anything.

The government is just taking off. For the first time there is fear in the land, the issue of impunity is no longer there. People are no longer as bold as they were to indulge in corrupt practices."

Crisis brews between Edo NUT, ALGON over transport grants By Simon Ebegbulem

ENIN—CRISIS is brewing between members of the Nigeria Union of Teachers, NUT and the Association of Local Government of Nigeria, ALGON, in Edo State over alleged removal of the Leave Transport Grants, LTG and annual increment in salaries of primary school teachers. NUT described the action as illegal and vowed to resist any attempt to deprive them of their lawful earnings. But ALGON, through its chairman in the state, Mrs

Itohan Osahon-Ogbeide, described the allegation as untrue, saying that the removal was temporarily done due to the dwindling revenue from the Federation Account, adding that arrears of the grant would be paid when the allocation improves. However, in a communique weekend, after its emergency meeting, NUT’s state chairman, Mr Mike Uhunmwangho and the Secretary, Akin Adeojo, alleged that the removal was a conspiracy between ALGON and the state Ministry of Local Government and Chieftaincy Affairs.

Pipeline vandalism: Lawmaker advocates FG, community leaders' synergy By Innocent Onoja

OMADI—A member of Delta State House of Assembly, Mr Daniel Yingi, has called on the Federal Government to liaise with community leaders in the Niger Delta in its efforts to curb pipeline vandalism and other criminalities in the area. The lawmaker, who represents Burutu constituency 1, said that such move by the Federal Government would bring a lasting solution to the sabotage of oil installations and other criminal acts, as well as create Federal Governmentcommunity relationship in the Niger Delta. Yingi, who is the House Committee Chairman, Oil and Gas, in the state Assembly, who spoke in Warri, urged security agents to adhere to the rule of engagement in their search for vandals in the rural communities, following alleged excesses of security men in search of culprits of the recent pipeline bombing in Gbaramatu Kingdom.

Delta community gets interim exco By Egufe Yafugborhi

ARRI—UREJU community, Warri North Local Government Area, Delta State, is heading for crisis following the purported refusal of the community’s 12-man national executive, led by the out-gone National President, Mr. Friday Oyibo, to relinquish power after serving their three years tenure. The development is coming after the Olu of Warri, Ogiame Ikenwoli, gave order to elected leaders in Itsekiri communities to vacate their positions at the expiration of their tenures. Meanwhile, a five-man caretaker committee has been mandated by the Olare-Aja and Chairman, Pa Tonwe, as well as the Secretary, Pa John Eguando, to oversee the community's affairs for six months with effect from January 28, 2016. The committee has Mr. Larry Omonedo as Chairman, Ogedema Eweyeju, Secretary, Mr. Friday Ojobon, Mr. Ogedema Oghonuya and Mr. Solomon Seruwa as members.

40—VANGUARD, MONDAY, FEBRUARY 15, 2016

If you don’t have peace, you can’t get tourism. Plateau was known as the home of Peace and Tourism. As part of our five Pillar Trusts when we came in, peace and security was number one

How my football career derailed — GOV. LALONG •Jang left us with N305bn debts, liabilities GOVERNOR Simon Lalong of Plateau State had cut his teeth in politics in the legislature having served as member of the House of Assembly between 1999 and 2006 and was speaker between 2000 and 2006. He was chairman of the Conference of Speakers between 2005 and 2006. Lalong, who obtained his first degree in law from the Ahmadu Bello University, ABU, Zaria and a masters in law from the University of Jos, was not just a soccer buff but also a player who played alongside Nduka Ugbade, captain of Nigeria’s 1985 Under-16 World Cup winning team, originally known as Baby Eagles. Governor Lalong, in this interview in Abuja, speaks on issues pertaining to governance, his party, the All Progressives Congress, APC and how his soccer career was truncated. Excerpts:

•Lalong: We recovered about 2.7 billion of the state money

By Levinus Nwabughiogu MY peace and tourism agenda If you don’t have peace, you can’t get tourism. Plateau was known as the home of Peace and Tourism. As part of our five Pillar Trusts when we came in, Peace and Security was number one. The first thing we did was to try to maintain peace in the region. We tried to engender peace between the Fulanis and the Beroms. We went as far as establishing a committee to handle their problem. We proposed the Bureau for Conflict Management and the law necessary to put it in place is about to be signed. With the help of various organisations, and civil societies, we were able to contain the issue of insecurity in the state. Some former war torn areas are now free areas for the people. In the area of tourism, we are really working on increasing the tourist potentials of the state especially Wild life, the Pandam Wild Life Park which is untapped, the Wase Rock and others. We just finished a one-week retreat and one of the areas of discussion was commerce and tourism. For example, we are planning on rebuilding the Main Market. The campaign to revamp the solid mineral sector Before, nobody was bothered about solid mineral resources, we left it to illegal miners, but C M Y K

now, this is the time to go outside the box. The state used to be the headquarters of the Nigerian Mining Corporation, and that will tell you the importance of mining to the people of the state. In the days of old when people were talking about groundnut and cocoa, we were beating our chests and talking about mining, that was why Jos became very important nationwide. With the fall in the price of oil, we decided to return to mining. When the minister for solid minerals visited the state, he told me that the best input he got from contributions as to ways of improving the solid mineral industry was from Jos. Those contributions helped us at the National Economic Council, NEC, and formed the bedrock of the policies concerning solid minerals at both the federal and state levels. Virtually every local government in the state has solid minerals. Unlike before, the president is very much interested in upholding the law and has stated that the states must participate in the exploration of solid minerals within their own territories. We, on the plateau are also working on how to take advantage of the policies concerning revenue generation with respect to solid minerals.

First of all, I will say that Plateau is a very unique state in the sense that when they want to do something, they do it. It is also a very religious state, that is why you don’t find many cases of corruption in our state. Prior to the election, due to the situation of things, many indigenes of the state had already decided that they needed a ‘Change’. I used to be Speaker under the PDP for seven years but due to the unsatisfactory state of things within the party, some of us had to join the oppositionAPC. We won the election due to the collective opinion of Plateau indigenes and the hard work of the APC. What we are planning to do is to join hands with everybody including members of other parties to handle the Plateau together as a project, thereby bringing in hope, equity and justice among people of the state. Gains of anti-corruption war on the Plateau I have said it severally. The fact that you are not hearing anything in that line does not mean that we are not fighting corruption on the Plateau. We have sent in several cases to the EFCC and ICPC. The Accountant-General just came in today and he is from the EFCC. They were called to come and give evidences about some investigations that are going on. We have a lot of

AKEREDOLU

My relationship with members of other political parties

investigations going on and we have had a lot of arrests, many of them from the past administration are on bail. At the appropriate time, EFCC will prosecute. We formed a transition committee which came out and told the plateau people about their findings. We have submitted some of our reports to the EFCC, and also commissioned a reputable accounting firm, KPMG to help in auditing the state. At the appropriate time when the results are out, you will see the outcome. Recently, we recovered about 2.7 billion of the state money that was regarded as lost. We traced and recovered the money which was meant for teachers. Teachers, civil servants, the judiciary have gone on several months of strike, some nine, some 11 but now, since I came on board, we did our best. We now have arrears of salaries of only two months. For teachers, we paid all, they are back to work. The judiciary is also back to work. Bailout funds and outstanding salaries Before the issue of bailout, we had already started paying workers in the state and when the issue of bailout came, we applied for 10 billion which was supposed to be for the arrears of salaries for about eight to nine months and so far, we have only received five billion.

Continues on page 41

VANGUARD, MONDAY, FEBRUARY 15, 2016 — 41

Jang left us with N305bn debts, liabilities

came in, within two to three weeks, I was able to take Plateau United to the premiership division. Concerning other sports, we are trying our best to support based on our present capability. When I came on board, I inherited a big, uncompleted stadium but I decided to go ahead and complete it and by the time we are done, even the Super Eagles will be able to use it for training, considering the weather and accommodation. Last year, we had a golf tournament, ‘The Governor ’s Cup’. The turnout was more than expected.

Continues from page 40 Plateau was supposed to get 10 billion for salaries and 10 billion for infrastructure but all we have got so far from the CBN is five billion. Even with that, we have been able to clear most of the arrears of salaries. We only have an outstanding of two months salaries not paid, that is for the state. We have paid all the outstanding salaries for all our local governments. If I am able to get my balance of five billion, within a week, all the remaining salaries outstanding would have been cleared. Concerning roads, when I came in, I inherited a debt of about 200 billion and also outstanding contract liabilities of over 105 billion naira and all we met was just about 95 million Naira. Uncompleted projects were all littered everywhere including the main entrance to Jos City itself. The contract was given but it was abandoned. What I did was to start completing those projects. There was an uncompleted flyover bridge in Jos which we have now completed to the amazement of many; the main roads are all under construction. If I am able to get my bailout, I will be able to complete most of the projects and even engage in new ones. Advantages of Treasury Single Accounts Well, in Plateau, we are already implementing TSA. Immediately I heard the president mentioning TSA, I called my Accountant-General and told him to immediately implement TSA in my state. I am not an accountant but immediately I became aware of both the advantages and disadvantages of TSA, I gave the instruction that it should be implemented. I organised a committee immediately and today, TSA is being implemented. I don’t know why some governors are finding it difficult to implement TSA in their states but out of the TSA implementation in our state, we have gained some dividends. We are now tracing some accounts that were not known to us before and we are seeing some excesses in those accounts, especially in some of the ministries. So, I will advise other states that have not yet implemented TSA to start doing so. Declining popularity of the APC among Nigerians due to slow implementation of policies in the past eight

C M Y K

— GOV. LALONG

•Lalong: I used to be a footballer

GOVERNOR LALONG’S TAKEAWAYS •I was Nduka Ugbade’s football contemporary •Inherited N305 billion debts/liabilities from Governor Jonah Jang •Nigerians will in one year rediscover their love for Buhari •Recovered N2.7 billion through implementation of TSA •Why many of Jang’s associates are on bail months Well, I will say I am worried because of the kinds of complaints that are coming and also because of the impatience of Nigerians. If you begin to compare the state of the nation before the election, you will understand what the president is facing. Before 2014, the cost per barrel of oil in this country was above 140 dollars, but today it is just about 28 dollars with the same budget and responsibilities, and in my state, the same salaries. In the last seven or eight years, allocation to my state was about five to eight billion, but today, with a salary cost of about 1.8 billion, our monthly allocation is just between 1.6 to two billion. We know people are expecting change but they should also understand the economic situation. I think we need to be patient. With the

reform that’s going on the expected change will come but it may not be immediate. Let us give ourselves at least one year and see what the president and states are doing. If you are fighting corruption, it will also fight you. The people of Plateau know what I am going through. There are frustrations here and there. Sometimes, people, when called upon by the EFCC , refuse to come and give evidence when it is very glaring. They refuse and run away and this makes it difficult to prosecute. Fighting corruption is a sacrifice that everyone must do if we have to make this country work. On his soccer career I used to be a footballer. I played alongside Nduka Ugbade but I could not further due to my education. When I

Presidential foreign trips and benefit to Nigerian economy I don’t see anything wrong with it. Presently, I am granting an interview in Abuja and not in Jos. If I didn’t travel to Abuja from Jos, who will fight for my bailout? For example, foreigners have stopped coming to Jos due to insecurity. If you want private investors, you have to travel all the way to Abuja because that’s where the foreigners are. That is also exactly what Mr. President is doing. He is trying to attract private investors into the country to do business. He has been invited to several workshops and seminars. It is not because he travelled that a problem occurred with the budget. On the judiciary impeding anti-corruption war If there are allegations against a profession like that it is good to be specific. Each profession has a way of disciplining their members. This means that there are members who are recalcitrant. So, it is better to name those lawyers, arrest, investigate and prosecute them. I also have been detained by EFCC in 2005/2006 for more than 40 days before I was later prosecuted, discharged and acquitted by the Supreme Court. All because I wanted to follow due process with regards to illegal impeachment. I was speaker then. What is the place of women in your government? In the APC manifesto, which we also imbibed in our state, we have something called the three Es- Empowerment, Engagement and Employment for youths and women. We have two female commissioners and seven female permanent secretaries, who are doing excellently well. So, we are taking good care of women affairs in the state.

Uncompleted projects littered everywhere including the main entrance to Jos City itself. The contract was given but it was abandoned

42 — Vanguard, MONDAY, FEBRUARY 15, 2016

Why I rejected Arsenal for Wolfsburg — Osimhen Y

•Martins

Martins joins Shanghai Shenhua N

IGERIA striker Obafemi Martins has joined Chinese club Shanghai Shenhua in a multi-million dollar deal. The 31-year-old made the switch from Seattle Sounders, where he scored 43 goals in 84 appearances for the MLS club he joined in March

2013. Martins was linked with a move back to the Premier League in the January window, but British agent Tony Harris along with the player’s attorney Soroosh Abdi brokered the deal taking the Super Eagle to China instead.

OUNG Nigeria striker Victor Osimhen has revealed he chose German side Wolfsburg over the chance to compete in the Premier League with Arsenal. Osimhen starred at the under-17 World Cup in October 2015, scoring 10 goals to help Nigeria win a record fifth title. The striker, who turns 18 in December, was reportedly wanted by Arsenal, Tottenham and Anderlecht but his family and representatives settled for the German outfit. Yes Arsenal is a good team for young players but Wolfsburg is the best club for me “It’s true that a big team like Arsenal wanted me and I feel honoured to be invited over. But personally I feel Wolfsburg is a ladder for me to reach my professional goals,” Osimhen said. “This is the best place for me to learn and develop because my heart is here with Wolfsburg. “The club’s plan for my

Victory in Congo excites Ekpai

APPRECIATION: President of African Sports Journalists Union (ASJU), Mitchel Obi with an award of appreciation from the Qatar Organising Committee of the 79 th AIPS Congress C M Y K

K WA United history maker Ubong Ekpai has said that he is delighted to score the only goal in the game against Vita Club Mokanda which earned them victory in their first ever continental game. The former Kano Pillars forward said he is happy with the history and the victory. “I am excited and very happy with goal. It was a team success because we worked together to win the game,” Ekpai said. “It’s an honour to score Akwa United’s first ever goal on the continent. I dedicated the goal to our goalkeeper Olufemi Kayode whose birthday was same day we played the game.”

career is very encouraging and I believe with God on my side I can grow to become one of the best players in the world,” he added. Under Fifa regulations Osimhen cannot sign a professional contract until he turns 18, on 29 December 2016. But Wolfsburg have announced a deal to sign the striker on 1 January 2017. The proposed transfer follows a co-operation agreement between Wolfsburg and Lagosbased Ultimate Strikers Academy, where Osimhen is based. Under the co-operation agreement between the clubs, Osimhen has visited Wolfsburg and will continue to train with the club as their guest.

•Osimhen

Season 4 of the Ogun State Principals Cup Kicks Off T

HE conference hall of the Nigerian Union of Teachers, Abeokuta on Thursday 11th February, 2016 played host to government officials, football administrators and school representatives as Guaranty Trust Bank officially announced the commencement of the 4th edition of its flagship youth soccer competition, the Ogun State Principals Cup. The competition which has become an integral part of the academic

calendar of schools, provides a veritable platform for students to explore their potentials and acquire life changing skills. The ceremony formally sets the tone for the series of activities that the competition will feature this year. On ground to perform the unveiling were the Ogun State Commissioner for Youth and Sports, Hon. Moruf Afolabi Afuwape, the Ogun State Commissioner of

Education, Hon. Modupe Mujota andother senior officials from the Ogun State Football Association, Ogun State Ministries of Education, Sports and Youth development, as well as representatives of secondary schools that emerged winners in last year’s tournament. This year, the tournament is expected to feature over 360 teams in the male and female categories, a figure higher than the 344 teams that took part in the competition last season.

Rio Hospitality Project is new dawn believe if there are two that a senior officer in the —NOA DG Imembers in your sub- agency be attached to a sub-

HE Director General of the National Orientation Agency (NOA), Mr Mike Omeri, has described the Rio Olympic Games Nigeria House Project as a new dawn in sports business. Omeri made the statement during a courtesy call by the Nigeria House Committee Project on Rio 2016 Olympics in his office at the Area 1 National Secretariat. He said he is happy because the committee deemed it fit to visit the NOA underscoring the importance and how strategic the agency is in mobilizing Nigerians regarding the task ahead. “I am happy with your visit which underscores the importance of who we are and what the NOA can do.

committee one should come from the NOA because of how strategic we are to actualise this project. The NOA remains at the vanguard of promoting whatever is good about Nigeria, its people, our culture, landscape and everything. This government had talked about employment and poverty alleviation, therefore everything we do should be targeted at escaping from poverty and our youths taken away from social vices for the good of the society. I see what you are doing as further implementing the policy of this government. If there was no policy you won’t be here.” Accepting to partner with the Nigeria House Project Committee, Omeri directed

committee in the project to ensure synergy between both bodies. Earlier, while briefing the DG NOA, Project Coordinator and Chief Executive Officer (CEO), of the Nigeria House Project, Mohammed Abdullahi said that the committee was there specifically to seek his agency’s support in the promotion and awareness of the hospitality business of sports through the Olympics. “We see the NOA as a key sectortopartnerwith.Wehave a mandate to promote the image of this country through sportingactivities.Olympicsis a forum where you have over 205 countries coming to one venue and I think it is one of the best avenues to reach the worldandprojecttheimageof thecountry.

Vanguard, MONDAY MONDAY, FEBRUARY 15, 2016—43

ECOWAS parliament: As Ekweremadu exits amid accolades (2) By Ismail Omipidan

This is the concluding part of this discourse. In the first part which was published last Friday, Omipidan argued that Ekweremadu brought the ECOWAS parliament closer to the people by delocalising committee meetings

KWEREMADU listed other major achievements of the Third Legislature of the Parliament, under his leadership to include the bequeathing of a befitting parliamentary complex, while also handing over a grant of about N1 billion, secured by him, for the construction of an office complex. He urged the new leadership to ensure that the grant was strictly used for the purpose for which it was received. Other efforts at repositioning the Parliament, he said, included ensuring that the 115 seats of the Community Parliament was fully occupied for the first time, in the history of the Parliament, with the coming of Cote d’Ivoire and rejoining by Guinea; elaborate capacity building for members and staff of the Parliament; creation of visibility and awareness for the Parliament, and revival of the Conference of the Speakers and Presiding Officers of Parliaments of West Africa.

Beneficial partnership He further explained that the Third Legislature built elaborate and beneficial partnership with other regional and international legislative bodies, while also launching the ECOWAS Parliament into the realm of parliamentary diplomacy for the economic development, peace, and security of the sub-region. “As the people’s Parliament, the Third Legislature of the ECOWAS Parliament contributed its quota towards regional peace and security and the consolidation of democratic governance, rule of law, peace, integration and development. We were consistent and loud in our stand against forceful and unconstitutional takeover of government, terrorism, insurgency, and militancy. We variously deployed the weapon of parliamentary diplomacy to rally international and local support against such enemies of progress. “Importantly, we physically visited most flashpoints to understudy the real issues and made suggestions, which the ECOWAS Authority of Heads of State and Government and other ECOWAS You have institutions and organs have found done us useful in resolving various political proud, and crises and we are proud challenges of insecurity in the to be s u b - r e g i o n . associated Furthermore, we treated with with you. We dispatch Referrals will support regarding to peace the new and security, youth employment, joint Speaker, the border posts, way we among others. “It could also be supported recalled that I made our own, a strong case for an I n t e r - r e g i o n a l Ekweremadu C M Y K

•Senator Ekweremadu Summit of Heads of State and Government of the Central African Economic and Monetary Community, CEMAC, and the ECOWAS in my closing remarks at the 2013 1st Ordinary Session of the Community Parliament in May 2013. I stressed the need for greater cooperation, strategy, and capacity to fight terrorism and insurgency. I am happy that the Government of France, a key ally in the war against terrorism and insurgency in West Africa, saw the need for such dialogue as it hosted several Heads of State and Government of the two regional blocks in Paris a year later, to activate interregional dialogues on terrorism and insurgency in both sub-regions,” Ekweremadu, added. In his goodwill message, President of the Nigerian Senate, Dr. Bukola Saraki, described the ECOWAS Parliament, as one that has done “creditably well, in fulfilling its mandate.” Particularly, he recalled that the Parliament blazed the trail in 2006, when it rendered popular opinions on certain issues that have direct bearing on the promotion of the standards of living of citizens of member States, adding that “this is especially noted on infrastructural development, migration, public and investment, to mention but a few.” He further said:”the role of the Parliament was further enhanced when in 2009; the Niger Republic political crisis emerged. Indeed, it was on record that the Parliament’s input largely informed the decision of the ECOWAS Authority of Heads of State and Government to impose sanctions on Niger Republic over the attempted tenure elongation of the then incumbent President of that country. We can with pride state that this Parliament has done creditably well in fulfilling its mandate.” While reiterating the commitment of the National Assembly under his leadership to support and work with the ECOWAS Parliament, to realise its objective of evolving as a true Parliament, with legislative powers, Dr. Saraki, commended the Third Legislature of the Community, under the leadership of Ekweremadu, for driving the process of transforming the Parliament from “its current advisory and consultative status,” to one of “co-decision and lawmaking.” To Ekweremadu, Dr. Saraki said: “I want to congratulate you for your eventful leadership of the Parliament. I also congratulate you for the completion of a successful tenure. You have done us proud, and we are proud to be associated with you. We will support the new Speaker, the way we supported our own, Ekweremadu.” Omipidan is the Special Assistant (Media) to the Deputy President of the Senate

44 — Vanguard, MONDAY, FEBRUARY 15, 2016

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Confirmation of Name

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Confirmation of Name

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Confirmation of Name

Wolves walk over Sao Tome club

IGERIAN club Warri Wolves have progressed into the next round of the 2016 CAF Champions League without kicking a ball on Sunday. The Warri side were billed to play hosts to Sao Tome/Principe outfit Club de Sporting de Praia Cruz at the Warri City Stadium in the first leg of the preliminary round of Africa’s premier club competition. Wolves had complained that the Sao Tome club kept them in the dark as regards their travelling arrangements until late Saturday when it emerged that CS Praia Cruz will likely not make the trip to Nigeria despite the arrival of match officials. The Sao Tome club were absent at the prematch meeting, and on Sunday at 4pm local time, Wolves lined out with no opponents present.

Welbeck Continues on Page 45

Walcott equalised with 20 minutes remaining and sealed a dramatic victory through the returning Welbeck – off the bench to make his first appearance since April – as he headed home in the fifth minute of stoppage time. Leicester’s defeat is only their third of the league campaign,

Oliseh

Continues from BP took charge of the Eagles in July 2015, but he is now believed to be in the team’s plans as Nigeria pull all the stops to ensure they beat Egypt in Kaduna on March 26. “Victor Moses is doing well, but he is always on and off, injured… okay…injured…okay…,” complained Oliseh. “We will pick players who are fit and doing well, but we will only do that just about the time we will invite the players because what if I have a player on my head now and just when we will invite, he is injured or has some problems?” The Eagles also disclosed he has not

The match officials, Daniel Nii Laryea, David Nelson Agyin and Paul Atimaka, all from Ghana, after 15 minutes performed a walkover ritual in favour of the hosts. The Nigerian club, supersport.com has been informed, have written to Caf through their federation complaining about expenses incurred for the botched game. Wolves will now prepare to face Sudanese champions Al-Merreikh in the first round of the competition in March over two legs.

•Okpodu while Arsenal’s second straight victory puts them within striking distance of the top of the table ahead of the meeting between title rivals Manchester City and Tottenham. Arsenal had a halfhearted penalty claim turn down after Alex Oxlade-Chamberlain’s cross struck the arm of N’Golo Kante from close range, but it was the visitors – unchanged for the sixth straight game – who created the first major opportunity. ruled out some new faces for the Egypt matches. “It’s very possible (to call up new players) because this game is one we want to go with all the artillery we have,” he admitted. “Everyone who is doing well knows he will be considered for selection.” Egypt lead the AFCON qualifying group with six points after two rounds of matches, while Nigeria are second and two points behind with only the group winners guaranteed automatic qualification to the Nations Cup to be staged by Gabon in January 2017. Tanzania and Chad are the other teams in the group.

46 — Vanguard, MONDAY, FEBRUARY 15, 2016

HE story of Akwa United makes an interesting reading any day. Less than five months ago, this club was on the brink of relegation. Less than five months ago, this club was one of the whipping boys of the league, condemned to scorn and laughter. Today Akwa United is the Federation Cup Champion, Super Four champion and a candidate for the CAF Confederation Cup diadem. Stand up history making governor Udom Emmanuel who has stood up to the call of greatness. Stand up Sports Commissioner Sir Monday Ukoh whose tenure has reaped fruits of success. The enigmatic Akparawa Nse Ubeh who less than eight months in the saddle as chairman exudes an aura of favour…I can go on and on… What then can I say of the glory boys, who today have their names written in gold in the sports history book of the state, nay Nigeria? Last Saturday in the dreaded Stade de Liberation in Pointe Noir, Congo, Akwa United started a challenging journey, winning its first ever continental match. That it happened at away with a huge prospect of moving into the first round, provides avenues and the right to dream. Let’s rewind, to the eve of the Federation Cup final when I got a call from the Secretary to Government, Sir Etekamba Umoren, telling me to contribute in making sure that the cup comes to Uyo. “ In fact, it has to come to Uyo,” he ordered. Still back in time, to that historic day in Uyo when Governor Udom Emmanuel welcomed the team and the cup at the Uyo airport. I was part of a select team that held a meeting with His Excellency at the airport where he said among other things “…….PB you people must reorganize that team. It was God that gave us the cup. Go and look for a good coach, recruit good players. Start from our boys who are making waves in other clubs. Bring them back” For me, this was a call to service. What I had done to other clubs over the years, this was an opportunity to do same and even more for my club, my state. I called my colleague Linus Mba and we set the ball rolling, putting up a paper on how best to handle a continental challenge. In doing so we reminded ourselves of the mistakes our clubs did in the past that got them booted out of the competition prematurely. The paper was submitted to a meeting that included the sports commissioner, the club chairman and the state FA Chairman. Pronto a coach was recruited. Maurice Cooreman is a veteran of Continental assignments…..Enyimba, Lobi Stars, Warri Wolves,……..and here he was, just taken Ikorodu United to the Premier League. We knew how close the young club was to his heart, how dear and good the Ikorodu chairman was to him, yet the bait of a continental trophy was too good to ignore. The scout for players then began. Not easy if you

Akwa United and the right to dream Last Saturday in the dreaded Stade de Liberation in Pointe Noir, Congo, Akwa United started a challenging journey, winning its first ever continental match ask me in a country where the league is taken to the end of the year, December festivities in tow, recruitment procedures, signing of continental forms, strenuous CAF Club Licensing regulations etc. In the past, this has been the bane of our clubs who had to jump blindly into continental assignment in February yet to test and to blend their “new” team. This year was different. This year, the League Management Company in all its wisdom initiated a credible Super Four Competition that gave the continental teams a veritable opportunity to test run their squads and Akwa United was one of those that really benefited. The journey to Congo Brazaville fell under the pathetic African situation where a trip that takes less than four hours from Lagos to Pointe Noir has to be negotiated in 20 hours through Ethiopia with two nights of transit in Addis . Before we took off Sports Commissioner Uko put a call through, reminding us of the need for victory “ …..to continue the celebration of His Excellency as the authentic, people elected and God chosen governor of Akwa Ibom State” The historic delegation led by the State FA Chairman Mr Emmanuel Ibah ( Another history maker) Emmanuel Adesanya of the NFF, Chairman Akparawa Nse Ubeh, “The winning Director of Sports” Aniedi Dickson, Former chairman Isong Isang,

Board member Ukoh Akpabio, Supporters Club Chairman Edwin Udoffia Patrick, Raymond Essien, Team Manager Emmanuel Udoh, Club Secretary Mathew Peters, Team Media Officer Uwem Ekoh, Team Doctor Jackson Obot, Nurse Martina Emmanuel and the Cooreman-led technical crew of Daboere Dokubo and Mike Ekpenyong led eighteen players into Pointe Noir last Thursday and to battle the jet lag, Cooreman cancelled training and declared complete rest for the boys. Hotel De Fez is not only comfortable, its staff hospitable and the food top class, it is the same hotel that Siasia and his Under 23 boys stayed and conquered their Congolese counterparts last year after a narrow 1-0 victory in Port Harcourt that many believed was not enough to keep them in the competition. In Pointe Noire we believed that “same luck” will be our portion. It worked. Friday afternoon at 15.30 hrs the team trained at the artificial turf of the stadium and over 100 youths were there to cheer and to applaud a team that they believed will win the next day. That evening, it was decided to source Nigerian food to “stabilize the metabolism” of the players after four days of “salad and bread” and Oken Palace owned by an Ibo chief provided Eba and semo with Egusi and “draw” soup. Were the boys happy! Saturday was goalkeeper Olufemi Kayode’s birth day and the prayer was “....On this your birthday, God will not allow you to pick any ball from your net” The loud chorus of Amen resounded in the bus as we sang into the stadium. The match proper is now history. After thirty five minutes of even exchanges Ubong Ekpai made the difference in the 38th minute when he capitalized on a loose ball to release a blinder that caught the Congolese goalkeeper napping. In the second half, 63 minutes on, Ubong lost the opportunity of making the second leg a formality when one on one with the goalkeeper he blasted over the body of the shot stopper. Let us mention Goalkeeper Kayode who in the second half that Akwa midfield crumbled, Kayode made sure “ he did not pick the ball from his net” Then the drama of the 90+2 minutes when Central African referee Etiene Gabato flashed a red card at Samuel Okon for a mild tackle that could at worst have attracted a yellow! ( He was to call the team after the match to apologise and withdraw the red card) Final whistle…joy and jubilation as the victory was dedicated to His Excellency Governor Udom Emmanuel in furtherance of his triumph at the Supreme Court “…….and many other victories to come on the political, economic and sports scene……” Today the boys will touch down in Lagos by noon, head straight to Uyo to prepare for their league curtain raiser against Sunshine before welcoming V. Club Mokanda by 7pm on Saturday February 27, under the floodlights of the magnificent Godswill Akpabio International Stadium, knowing quite well that it is not yet over until it is over. That, will be the day. See you next week.

minute after coming on as a substitute before England defender Nathaniel Clyne made it 5-0 with a tap-in and Kolo Toure headed a sixth in the 70th. The victory ended Liverpool’s run of five matches without a win in all competitions.

Enyeama’s heroics deny PSG V

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INCENT Enyeama produced a heroic performance on Saturday to help Lille OSC claim a point at runaway Ligue 1 leaders Paris Saint Germain. The Nigerian goalkeeper made no less than five top-class saves to deny the hosts victory in front of 45,391 supporters at Parc des Princes. Enyeama was first called to duty as early as the ninth minute when he produced a full length dive to push out Jean Kevin Agustin’s effort. Six minutes later, the former Enyimba man kept out Edinson Cavani’s effort after the Uruguayan was expertly set up by Angel di Maria. In the 25th minute, Enyeama brilliantly denied Di Maria whose free kick seemed destined for the top right

hand corner as PSG cranked up the pressure. His best save was produced in the 65th minute as he dived expertly to deny Loucas Moura from 25 yards. He had to be alert in the 87th minute though to deny Cavani from close range as Les Dougues held out for a hard-fought point. Enyeama’s performance did not go unnoticed by the Lille captain, Rio Mavuba, who reserved some words of adulation for the Nigerian shot-stopper. “This is a very good point made here. The Parisians caused us problems severally, but Vincent (Enyeama) made the saves that were necessary for us to avoid defeat,” Mavuba told the club’s official website, www.losc.fr. Enyeama has played 23 league matches for Lille this season.

Pogba aims to emulate Messi

Toure

Liverpool crush Villa 6-0

IVERPOOL pushed Aston Villa even closer to relegation when they crushed the Premier League’s bottom club 6-0 on Sunday leading to a mass exodus of home fans long before the final whistle at Villa Park. Liverpool went ahead when Daniel Sturridge, who has been injured for most of the season, headed in after 16 minutes before

former Villa winger James Milner doubled their lead with an inswinging free kick eight minutes later. Villa collapsed midway through the second half conceding four goals in 13 minutes with Emre Can starting the blitz with a 25metre shot that beat keeper Mark Bunn after 57 minutes. Divock Origi burst through to make it 4-0 a

UVENTUS midfielder Paul Pogba has revealed he has been taking advice from Lionel Messi as he aims to surpass the Barcelona star as the best player in the world. The two met at the Ballon d’Or gala in Zurich in January, where Messi lifted the prestigious individual award ahead of Cristiano Ronaldo and Neymar. Pogba had to settle for 15th place after winning the double and making the Champions League final with Juventus in 2014-15, but he hopes he can claim top spot after Messi’s help.

Vanguard, MONDAY, FEBRUARY 15, 2016 — 47

Benfica v Zenit: Villas-Boas wants tie to be decided in Russia

NDRE Villas-Boas wants a positive result in Lisbon to keep their Champions League tie against Benfica alive ahead of the second leg. Zenit boss Andre VillasBoas urged his players to keep their Champions League tie against Benfica alive with a positive first-leg result in Portugal tomorrow so that the outcome can be decided in favourable home conditions. The Russian champions have not played a competitive game since their final group stage match in December due to the Premier League’s midseason break, but training camps in Portugal and Qatar were arranged to prepare for the Benfica clash. Zenit finished top of Group H after winning their first five matches to reach this stage and Villas-Boas is in confident mood ahead of the first leg, which sees him return to his home country. Villas-Boas said: “Our greatest aspiration and our great desire is to take the game and the tie to St Petersburg, decide it there with a difficult en-

Villas-Boas vironment like the Petrovsky [Stadium]. “The weather conditions are always decisive and always bother teams who play in Russia. “Now we do extensive preparation for the match with Benfica, which is nevertheless an advantage because we have no other opponent to worry

about.” Recent history in meetings between the two sides is evenly matched. Benfica defeated Zenit 4-3 on aggregate at this stage of the 2011-12 tournament, while the teams also met in the Champions League group stages last season, with VillasBoas’ men coming out on top in both fixtures.

Moyes warns Van Gaal

Moyes

AVID Moyes has warned Louis van Gaal that failure to qualify for the Champions League will not be accepted by Manchester United. United’s lost further ground in the race for a topfour finish when they lost 21 to struggling Sunderland on Saturday. Moyes is well placed to speak on the subject, having been sacked prior to the end of his sole season in charge

Kaduna appoints Skambo new Basketball boss

HE Kaduna State Commissioner of Youth, Sports and Culture, Hon. Daniel Danauta has appointed former Nigerian International, Pastor Skambo Morrison Dilli the new Chairman of the State’s Basketball Association. The appointment which took effect from January 20, 2016, is for a period of three years, a letter conveying the appointment and signed on behalf of the Commissioner by Muhammad Tajuddeen read. According to the letter made available to Vanguard sports, Morrison was informed that the Commissioner approved his appointment “after a careful consideration of your contributions in sports development in Kaduna State”. “This appointment will

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give you the opportunity to further contribute your quota in the development of sports in the State in particular and the nation at large,” Hon. Auta stressed. Pastor Morrison told Vanguard sports that he was elated by the appointment and would do his best to justify the confidence reposed in him. “I am elated no doubt but is a challenge and I promise to do my best on the job,” he said just as President of the Nigeria Basketball Federation, NBBF, Tijjani Umar congratulated him, stressing that he was confident Pastor Morrison would contribute to the development of the sport in Kaduna State the way he is doing at the national level.

of United, when United finished seventh. The Scot admits he knew there may be repercussions from United’s failure to finish in the top four in 2013/14 and says the Champions League is a competition a club of United’s size should be competing to win, not struggling to qualify for. “I knew Manchester United need to qualify for the Champions League,” Moyes said, speaking on Goals on Sunday. “I think Manchester United need to be there. They are a club of status and want to be at that level, if not more. They want to be winning it if they can, nevermind qualifying for it. That’s what happens at Manchester United. It’s that level.”

Morrison

Vanguard, MONDAY, FEBRUARY 15, 2016

AFCON 2017 qualifier:

Warri Wolves walk over Sao Tome club —p.45

Oliseh unsure of Moses N

IGERIA coach Sunday Oliseh has said he will delay his choice of players like Chelsea loanee Victor Moses for next month’s all-important AFCON double-header against Egypt to be sure they will be available for the matches. Victor Moses, who is on loan to West Ham from Chelsea, has not played under Oliseh since he Continues on Page 45

•Moses

Akwa United win in Congo

KWA United began their campaign in CAF Confederation Cup on a bright note when they

Welbeck wins it for Arsenal D ANNY Welbeck’s last-gasp winner saw Arsenal come from behind to defeat 10-man Leicester City 2-1 at Emirates Stadium, moving them to within

WINNER ...Arsenal striker Danny Welbeck (l) celebrates after scoring the last-minute winner against title rivals Leicester at the Emirates Stadium

T OD AY'S PUZZLE ODA

FRI DAY'S ANS WERS FRID ANSWERS

Martins moves to China — P.42

two points of the leaders in the Premier League title race. Jamie Vardy won and converted a penalty on the stroke of half-time, but Danny Simpson was sent off for a second booking early in the second half in an incident that changed the game. The Gunners capitalised when substitute Theo

Continues on Page 45

won 1-0 at Vita Club Mokanda on Saturday in a preliminary round first leg game. This is Akwa United’s maiden appearance on the continent and they have started well on away soil. Returnee striker Ubong Ekpai scored the only goal of the game in the 37th minute. The Nigeria Federation Cup holders will host the Congolese club in Uyo in a fortnight for the second leg.

Results

Arsenal 2 Leicester 1 Aston Villa 0 Liverpool 6 Man City 1Tottenham 2

QUICK CR OSS WORD CROSS OSSWORD ACROSS DOWN 4 Fire (5) 1 Vibrate (6) 7 Advantageous (6) 2 Leave (6) 9 By way of (3) 3 Massage (3) 10 Lever (3) 4 Location (4) 12 Coach (5) 5 Harass (5) 13 Expensive (4) 6 Eastern (8) 15 Measure (5) 8 Meat (4) 17 Mob (6) 11 Demoted (9) 19 Pull (4) 14 Attack (4) 20 Proportion (5) 16 Inform (4) 22 Sprite (3) 18 Vessel (4) 24 Swung (7) 21 Rich (8) 27 Beverage (3) 23 Dread (4) 28 Passage (5) 25 Lodge (4) 31 Applaud (4) 26 Cubes (4) 33 Formality (6) 29 Shellfish (6) 35 Subsequently (5) 30 Relaxing (6) 37 Cupid (4) 32 Ordinary (5) 38 Ease (5) 34 Region (4) 39 Lair (3) 36 Spindle (4) 41 Sick (3) 40 Pinch (3) 42 Aviator (6) 43 Boulder (5)

YESTERDAY'S SOLUTIONS

ACROSS: 1, Prod 4, Rug 6, Cram 9, Log 10, Sextuple 11, Edit 14, Pal 16, Order 19, Completed 21, Revel 23, Defeated 24, Perch 27, Red 31, Mute 33, Audacity 34, Doe 35, Keep 36, Bar 37, Dirt.

DOWN: 2, Reek 3, Duty 4, Repeated 5, Grew 6, Clear 7, Rod 8, Agile 12, Scrap 13, Smear 14, Per 15, Lever 17, Death 18, Rowdy 20, Defender 22, Led 25, Exude 26, Creep 28, Lamb 29, Acid 30, Stir 32, Toe.

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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