FG's order threatens Treasury Single Account by Vanguard Media Limited

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VOL. 25: NO. 62628

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MONDAY, NOVEMBER 16, 2015

Ministers: Holding two PARIS ATTACKS: portfolios constitutional G20 vows to eliminate ISIS — Presidency 8 57

FG's order threatens Treasury Single Account •Govt directs banks to refund fees collected from TSA operations •Stakeholders protest suspension of agreed fees and charges

By Gabriel Omoh

A G O S — INDICATIONS emerged weekend, that the Single Treasury Account, TSA, may be grounded, following the Central Bank of Nigeria, CBN, order suspending payment of fees and charges to parties operating the system. Vanguard learned that as a result of CBN’s, recent directive, banks and other stakeholders operating the system may abandon the project in of

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Nigerian solves 156-yr-old Riemann mathematics hypothesis 15

Mr & Mrs SERVICE OF SONGS—From left: Rev Tola Oyediran; Asiwaju Bola Ahmed Tinubu, former Governor of Lagos State and

Mrs Bisi Osinbajo, mother of Vice President Yemi Osinbajo at the Service of Songs in honour of late Chief Hannah Idowu Dideolu Awolowo at Park Lane, Apapa, Lagos, yesterday. PHOTO: AKEEM SALAU.

MASSOB blasts Fr. Mbaka over anti-Biafra stance OWEI LAKEMFA

I don’t want another country C M Y K

P.20

OCHEREOME NNANNA

Renewed agitation for Biafra (2)

COLUMNIST:

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Motorists groan as fuel crisis lingers nationwide 9

2 —Vanguard, MONDAY, NOVEMBER 16, 2015

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POCKET CARTOON Systemspecs is also requested to refund N3.812 billion they collected as fees and charges. According to the official figures sighted by Vanguard , as at September 15, 2015, N152. 225 billion stood as the cumulative amount that was collected into the TSA account while N797. 717million was the fees due to Systemspecs. The figures also showed that as at October 27, the sum of N836.721 billion was the cumulative collection into the TSA and a total fee of N3.812 billion was due to Systemspecs.

Systemspecs reacts

BUHARI VISITS IDPS— President Muhammadu Buhari (L) discussing with Director General of National Emergency Management Agency, NEMA, Alhaji Muhammad Sidi, during the president's visit to Malkohi IDPS camp in Yola, Adamawa State on Friday. Photo: NAN.

FG's order threatens Treasury Single Account Continues from Page 1 protest over the suspension of their one per cent agreed fees and charges. Stakeholders have been directed to refund fees and charges they collected as a result of the operation of the TSA. The CBN had caused a letter dated October 27, 2015 to be written to Systemspecs asking for refund of all debits/

charges into MDAs account. The letter signed by Dipo Fatokun read in part: “I have been directed to inform you that you should refund all charges, 1% cost of collection made into MDAs account as a result of the implementation of the TSA. The total amount should be credited into the account - FGN Revenue eCollection Pool Account at the Central Bank of

IT'S UP TO YOU

BY AYO ADIO EVELOP an affinity for building healthy relationships as they are the bedrock of successful living. Treat the people you meet on the journey of your life very well because they just might be the hinge on the door you need to open tomorrow. It’s up to you.

TAKE HEART BY ELLA RANDLE

Reading Maketh A Full Man – Francis Bacon

EAD voraciously. You just won’t have the time to broaden your thinking by experiencing things all by yourself. You learn to draw from other’s experiences as well and that’s why books are written. The key, however, is to not just reinforce your already great opinions, but to refine them through taking in the other view. Writing is a healing tool. Write down your thoughts, it’s a great tool for problem solving; you’ll be amazed with the answers to tough problems.

SAYINGS OF OUR PEOPLE

INCE men have learnt how to shoot without missing, I have learnt to fly without perching, says Eneke the bird (Courtesy, Chinua Achebe). C M Y K

Nigeria Account No 0020054161043. “Since the cost of collection must have been shared by all the stakeholders, you are hereby required to also provide a schedule of the total amount collected and the portion that was shared to each of the three participants. The schedule should be prepared on month by month basis, from the commencement of the TSA implementation in March, 2015, to date. We will recover the share to CBN and DMBs. Please note that you are required to comply with the above directive, latest by Wednesday October 28, 2015”.

N836.721 billion in TSA Documents sighted by Vanguard indicate that a total of N836.721 billion has been the inflow into the federal government coffer through the Single Treasury Account for which a fee of N7.628 billion was charged by both the banks and the facilitator of the TSA project, SystemSpecs. From documents sighted by Vanguard, the CBN is asking the banks to refund N3.053 billion into government treasury while the Central Bank of Nigeria is to refund the sum of N760 million.

Systemspecs in reaction to the CBN letter wrote to the CBN Governor on October 28 saying: “Let me, however, thank you sir, for your call of Friday, October 23, 2015 in which you ordered that Systemspecs should return all charges earned on the use of our Remita Collection platform. This was followed by your letter of October 27 delivered today. We have opted to obey your instructions for the following reasons: We defer to the high office of the Governor of the Central Bank. We have invested the last four years to prepare for the takeoff of the TSA project and would do all within our power to bring the project to full term despite this demoralising setback for us. We understand very well the strategic importance of the TSA project in the life of this Administration and would not want any avoidable distractions to becloud the bigger potentials of this project for our country. “Having returned the money sir, please permit me to explain why you should return this money to us. You may want to recall Sir, that before Remita was engaged to implement the TSA project in 2011, CBN had written to Office of the Accountant General of the Federation, OAGF, that the project was not feasible for at least another two years. The initial thinking then was to use the RTGS to support TSA transactions before it was observed that the system is not built for retail and high volume transactions. When we signified our intention to provide a solution for TSA, we were told that Nigeria Inter-bank Settlement System, NIBSS, had also shown interest and the decision of which platform to use was left to a joint evaluation committee comprising of CBN, OAGF and external Consultants. Three times,

we and N1BSS made competitive presentations to the joint evaluation committee. It was clear to the panel that the wholly Nigerian developed Remita effectively addressed all the requirements expected by OAGF and its external consultants to support TSA e-payment and ecollection of government receipts. “Upon engagement, our team worked tirelessly with CBN officials to make the solution ready within a very strict timeline in order to meet the planned January 2012 launch date of TSA. It may further interest you to know sir, that in January 2012 when the foreign developed Government Integrated Financial Management Information System, GIFMIS, platform was not ready as scheduled, we were called upon by CBN management to deploy Remita directly to 108 Pilot MDAs in order to ensure commencement of TSA as planned. “Accordingly Remita was the platform that provided end- to-end solution between January and April 2012 when GIFMIS became ready for roll out to take care of the accounting end. On the specific issue of the Collection Fees of 1 % which has become a topical issue and has assumed a life of its own please permit me to recall the context and some background milestones. Systemspecs in another letter to President Muhammadu Buhari on the November 6 seeking a resolution of the matter said: “Our letter of June 26, 2015 and your kind response of August 31, 2015 on “Effective monitoring of Government Funds - The Treasury Single Account (TSA) Initiative” refers. We sincerely appreciate the confidence reposed in our wholly Nigerian software innovation to provide the technology that supports implementation of the TSA Initiative. Our e-Payment and e-Col/ection platform - REMITA, serves as the Payment Gateway for TSA. The system connects with the GIFMIS at the Office of the Accountant General

of the Federation, Temenos T24 banking application at Central Bank of Nigeria (CBN) in addition to several systems provided by other Payment Service Providers to ensure seamless payment and collection of Government receipts across Ministries, Departments and Agencies (MDAs). “Your Excellency, please find below some of the areas we have used technology to support the TSA scheme: We have created a platform that empowers Government to see at a glance the cash position of all participating MDAs on the TSA. Provision of the payment and collection platform for 705 MDAs currently enrolled on GIFMIS. Direct deployment of REMITA. to 754 MDAs that are either partially or self -funded to facilitate electronic payment and collection. *Connection to all Commercial Banks and over 400 Micro Finance Banks in Nigeria. *Empowerment of the citizenry to pay Government from any Commercial Bank branch, a growing number of micro Finance Banks and Agents, use of internet banking, mobile phones, debit and credit cards. *Direct Credit of Government accounts at CBN typically within two (2) hours. *Collection of over about N 1 trillion on behalf of the Federal Government between August to date, either as transfers from Banks or direct receipts from payers. “Your Excellency, we are aware that you must have heard series of reports around the 1 % processing fees chargeable on eCollections of Government receipts. We will like to provide some background on these issues sir. SystemSpecs was engaged to provide the Payment Gateway for TSA in 2011. While the payment leg of TSA commenced in January 2012, the collection component did not start as scheduled due to the resistance from a number of quarters and the absence of the political will to push this through.

6 — Vanguard, MONDAY, NOVEMBER 16, 2015

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Gunmen attack Marine Police post in Lagos They are militants —POLICE By Evelyn Usman

UNMEN, in the early hours of yesterday, attacked the Marine Police post in Epe area of Lagos, engaging policemen in a shootout. About 20 gunmen, it was learned, intended to make away with gunboats for a bank robbery around Epe. Vanguard gathered that they hid under the cover of darkness to launch their attack. Report said policemen could not repel the gunmen's attack, who sunk one of the gunboats. Their attempt to tow the gunboat to the high sea with their speedboat failed with the arrival of reinforcement from Mobile Police, Rapid Response Squad and conventional policemen. Lagos State Commissioner Police, Mr. Fatai Owoseni and other senior police officers, visited the post in a helicopter to assess the level of damage. It was gathered that Owoseni immediately ordered that the water front of the post be lit. At 2p.m. yesterday, policemen from the command’s Works Unit were fixing halogen bulbs that would allow policemen see as far as 200 metres away from the post. Contacted, the command’s imagemaker, Joe Offor, said that the command had replaced the gunboat with a new one, adding that the damaged one was undergoing repairs. He added that no casualty was recorded on the side of the police. According to him “the gunmen were militants and their aim was to attack another bank around Epe. That was why they attempted to steal the gun boat. “Security has been beefed up around the area and other waterways.”

Prison officers brutalize Vanguard reporter in court premises A

BUJA—THE harassment and assault on journalists by law enforcement officers once again came to the fore as officers of Nigerian Prison Service from Kuje Prison, Abuja, numbering about 10, brutalized a Vanguard reporter, Mr. Emmanuel Elebeke, last weekend. The incident occurred at about 2p.m. at the premises of Court

Not again; we 'll fight this — NUJ 2 of the FCT High Court, Maitama, Abuja, when the reporter took the photograph of the six accused persons from Kuje prison, who were standing trial for murder. The officials demanded for his camera and, together with family members of the accused,

descended on him. The picture was taken outside the courtroom. The incident drew the attention of court officials, who came to the journalist’s rescue, but were overwhelmed. While one prison official was hitting the reporter with his gun butt,

NUJ reacts

TRANSPORT AFFAIRS: A commercial motorcyclist and passengers at Dalemo Road, Agbado, Ogun State. PHOTO: Joe Akintola, Photo Editor.

GHELLI—A four-man robbery gang, weekend, inflicted multiple machete cuts on a businesswoman, identified as Rita Mbido, during an

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In a swift reaction, Chairman of the Federal Capital Territory council of Nigeria Union of Journalists, NUJ, Mr. Paul Ella, condemned the attack and insisted that the prison officers must be brought to justice. He said: “It is totally unacceptable to us as a union and the profession of journalism. Such an act cannot be tolerated in a society where we all call for social justice. “We, as a union, will investigate the case in full and make sure that the perpetrators are brought to justice. We will do everything within our powers to ensure that this does not repeat itself.”

4 dead as street traders, govt officials clash in Aba By Ugochukwu Alaribe

BA—NO fewer than four persons were feared dead, weekend, in Aba, Abia State, when street traders at New Market clashed with officials of Aba Urban Renewal Committee over the order to relocate to Good Morning Market. A Toyota Camry, a tricycle and two motorcycles were also burnt in the fracas. Aba Urban Renewal Committee, headed by the Special Adviser to the Governor, Engr. Solomon Ogunji, was set up by Abia State government to demolish structures built on roads, drainage channels and pedestrian walk ways in the city. Vanguard gathered that the committee stormed the area

spanning Cameroon, Clifford, School and Ehi roads, popularly called Highlife, to enforce the ban on street trading in the area, which also hosts Enyimba International Stadium, but were resisted by the street traders. Business operators and shop owners were forced to close shop, even as youths mounted road blocks at Azikiwe by Adazi Junction, leading to the New Market. Eyewitnesses told Vanguard that some youths from both sides wielded machetes and other dangerous weapons. About 10 traders, who sustained severe injuries, are now receiving medical attention at various hospitals in the city. Soldiers were also seen patrolling the areas, while several policemen patrolled

round the city centre.

Govt hired thugs— TRADERS

Some of the traders, who spoke to journalists, accused the committee of engaging thugs. One of the traders, Ifeanyi Nwosu, said: “It started last Wednesday. The Aba Urban Renewal people arrived with some boys and started pouring fuel on our goods. “That did not go down well with us. But as good citizens of the state, we kept quiet and tried to find out what were the reasons for the actions. “They asked us to go over to the Good Morning Market and we decided to consult our market leaders. The next day, they came again and started destroying things again. This

Robbers machete woman in Ughelli for raising alarm By Perez Brisibe

the others kicked him with their boots. Meanwhile, one of the officials, Rita, ordered that one of the handcuffs be removed from the accused persons and used on the reporter. The beating stopped when they got hold of the camera and made away with it in an official bus with number plates PS635A01. When report of the attack got to the judge, he was said to have wondered why prison officials should take laws into their hands.

operation at Ughelli, Delta State. The incident, it was gathered, occurred at Daniel Umukoro, Uloho Avenue, residence of the victim at about 7:30p.m., Friday. According to a witness, who

spoke on condition of anonymity, the victim and her family members were entering their residence unaware that robbery was in progress. Two members of the gang kept watch outside the compound,

while others were inside. The witness said: “On sighting the robbers, the victim screamed ‘armed robbers’. They then descended on her with machetes, leaving deep cuts.”

was after some people had collected N120 daily ticket. “We do not know what happened between the team and a trader which resulted in a fight and in the process, the tricycle and Toyota Camry they came in were set ablaze.”

‘No notice’

The traders also denied that they were given enough notice before the committee stormed the area to enforce the order and appealed to Governor Okezie Ikpeazu to call members of the committee to order. When contacted on telephone, Special Adviser to the governor on Aba Urban Renewal, Engr. Solomon Ogunji, said his agency went to the area to ensure that the traders complied with the directive to relocate to Good Morning Market, before his line suddenly went dead. Repeated efforts to contact him proved abortive. However, spokesman of Abia State Police Command, DSP Ezekiel Onyeke, said that the police stepped in to maintain law and order, stressing that investigations were ongoing.

8—Vanguard, MONDAY, NOVEMBER 16 , 2015

“The Supreme Court in Lawal’s case has drawn a distinction between public servant and civil servant. You can hold a public servant position, which is what the NNPC GMD position is and at the same time hold a civil servant position, which is what the Minister of State is.”

No double salaries

VISIT: Speaker of the House of Representatives, Yakubu Dogara (left) and Governor Rochas Okorocha of Imo State during the speaker's visit to the governor at Government House, Owerri, yesterday.

MINISTERS: Holding two portfolios is constitutional —Presidency •As stakeholders worry about conflict of interest •Office holder'll not receive double salary By Clara Nwachukwu

AGOS — THE Presidency has clarified that holding two positions is constitutional, as contained in the code of conduct for public office holders and has also been clarified by the Supreme Court. This came as stakeholders expressed fears of the possibility of a conflict of interests as the Group Managing Director, GMD, Nigerian National Petroleum Corporation, NNPC, Dr. Emmanuel Ibe Kachikwu, was also appointed the Minister of State for Petroleum. Being both the minister and NNPC chief executive, Kachikwu is also a regulator as well as an operator, a development that is happening for the first time in the history of Nigeria. Although former President Goodluck Jonathan had allegedly tried to do a similar thing with former Minister of Petroleum Resources, Mrs. Diezani AlisonMadueke, but could not, a situation that saw the quick succession of many NNPC GMDs.

Regulatory conflict

The major concern of stakeholders is how Kachikwu will be regulated as the GMD NNPC, since he is also the minister and how NNPC default can be checked. A former NNPC group executive director, GED, who spoke in confidence with Vanguard on the telephone said while there is nothing wrong with the appointments, he however expressed concern on how Kachikwu will manage the conflicts that will arise. According to him, “if the NNPC GMD should become the Minister of State, that is fine, but C M Y K

the only issue is, how will he manage the conflict? This is because I don’t see how the current Director of DPR (Department of Petroleum Resources) will now regulate NNPC and the GMD, who is also the minister. That is really the issue. If you’re the regulator, and you’re the commercial, if NNPC defaults, who will DPR write to?” In terms of conflict with NNPC venture partners, he argued that there may not be conflict of interest as long as Kachikwu delegates some powers. “He can give the mandate of the management of the JV assets to NAPIMS (National Petroleum Investment Management Services) and stays within that ambit. In case of any

variation in contracts, it will end at the GED E&P (Exploration and Production)," he said.

Constitutionality of positions

But coming in defence of President Muhammadu Buhari’s action in vesting the two positions in one person, a Presidency source, who spoke with Vanguard on condition of anonymity, said there is nothing illegal about the action. He said: “It is very constitutional and contained in the code of conduct for public officers. The only circumstance under which you cannot hold two offices is if you are a civil servant and holding two civil servant posts.

Furthermore, the source defended that the President’s action is also a cost-cutting measure, as he explains: “You cannot hold two civil servant positions, and the rule is you cannot collect salaries from any of those two positions even when you hold the positions. As long as there is a substantive minister, there is no conflict because the total power in the Petroleum decree is harvested in the Petroleum Minister, not in the Minister of State; he has no powers under the jurisdiction of the constitution. “The whole executive power is harvested in the President, which is why he can afford to appoint one person as Minister of Works, Housing, etc. So if the executive powers are vested in him, he can decide how those powers can be applied at any given juncture. So, in this instance, there is no conflict of interest. But I think a major conflict will arise, if for example, Kachikwu is the substantive minister and still the GMD of NNPC. That is the law.”

Practicality of positions

With regard to the practicality of executing the two positions, the Presidency source noted that it will not be perpetual. According to him, “the whole essence of what he (President) is trying to achieve is that, remember they started a transformation of the NNPC in the last three months. I think what he is trying to do is to let Kachikwu complete that

process for successful transition. I don’t think this will be a perpetual combination, after which he will appoint a substantive minister.”

Delegation of powers

Speaking specifically on Kachikwu as Minister of State for Petroleum, other industry operators argued that his success with the ministry will depend on how much work he is given to do by the President, who is keeping the ministry to himself. While saying that the portfolios are not particularly exciting, a former Director, DPR, the industry regulator, Mr. Tony Chukwueke, expressed the oil and gas industry's support for Kachikwu. According to him, “Kachikwu is one of the few hopes that we have on the lists, and we (operators) are going to support him in very way. This is because he is an industry person; he understands what needs to be done in terms of the reform needed in the industry.” Similarly, Managing Director/ Chief Executive, Arco Group Nigeria, Mr. Alfred Okoigun, noted that being an industry man, Kachikwu, who just transited from the Group Managing Director, Nigerian National Petroleum Corporation, NNPC, will be able to proffer policies the President can buy into.

Convergence of infrastructure

With regard to the pooling of Power, Works and Housing under one ministry headed by Mr. Babatunde Fashola, the Chairman, Nigerian Electricity Regulatory Commission, NERC, power industry regulator, Dr. Sam Amadi, does not see anything wrong in the pooling of “strange bed fellows.” In Amadi’s opinion, “I don’t see anything wrong with it at all because for me it is a convergence of infrastructure. Power has to do with social infrastructure, same thing with works and housing, and all that is needed to manage them is high level of direction."

Allocation of key ministerial portfolios to Yoruba extraction, a big challenge —Osoba

By Bashir Adefaka

AGOS — FORMER Governor of Ogun State, Aremo Olusegun Osoba, has described President Muhammadu Buhari’s allocation of key ministerial portfolios to Yoruba extraction as a big challenge, insisting that highest level of performance is expected from them. Osoba, in an interview with Vanguard in Lagos, said President Buhari was a leader known for delegating duties on trust, and contended that the performance of the Yoruba ministers in the Buhari’s regime would be used to measure the future of South-West and Yoruba race in the politics of Nigeria. The veteran journalist was optimistic that the President’s

concentration of three major ministries central to infrastructural development and economic growth in the hands of former Lagos State Governor Babatunde Fashola indicated that Nigeria was now serious about real and visible governance. Osoba, however, advocated for collaboration between Fashola as Minister of Power, Works and Housing, and former Rivers State Governor, Rotimi Amaechi, the Minister of Transportation, overseeing the railways, maritime, and aviation, for Nigeria to get the best. According to him, “as one of the leaders of Yoruba race, and as an elder statesman of Yoruba extraction, I will say that President Buhari has thrown a big challenge, a gargantuan one, to the Yoruba nation by the appointment of

ministers. I do not want to be sectional. I will only analyze those who are party members. "The success of Fashola will be a measure for the future of South-West and Yoruba in the politics of this nation. I believe that we must all rally round party members who are now in the cabinet, especially from the South-West of the country. This is because it is a big challenge that Buhari has thrown to us and the onus lies in us to perform. “The economy of this country is heavily dependent on the old Western Region, starting from the old Mid-West that is Edo and Delta states, down to Lagos. Fashola is in the position now to revive the economy of this country, revive the middle class, the industrial base of this country is around this South Western

area, his performance and that of Amaechi, combined will score enormous goals. "My simple advice for Fashola is to, like he did in Lagos, pick some few essential network of roads and just get going on them and that will change the whole economic situation in the country. By this I mean, he should pick the major link with the rest of the country. "For example, Lagos-IbadanIlorin-Jebba road to the North; Ibadan-Akure-Okene-LokojaAbuja road to Kaduna, Kano' Shagamu-Ore-Benin road to the East, and Port Harcourt-AbaEnugu road. If Fashola can fix these networks of roads, they will change the whole of the economic life of the country.” Watch out for detailed interview this week.

Vanguard, MONDAY, NOVEMBER 16 , 2015—9

UNVEILING: From left, Mr Henry Erimodafe, Executive Director, Head UBS( Nigeria) Representative Office Limited; Adenike Ogunlesi, Founder & CEO, Ruff 'n' Tumble; Mitchell Prather, Managing Director, Djembe Communications; Tani Fafunwa, CEO, Resourcery Plc and Ayotunde Coker, Managing Director, Rack Centre when Djembe Communications and Forbes Insights unveiled new research on entrepreneurship and job creation in Nigeria yesterday. PHOTO: AKEEM SALAU.

Motorists groan as fuel crisis lingers blames private depot owners nationwide •TUC •We have enough stock to last 17 days —NNPC By Jimitota Onoyume, Sebastine Obasi, Michael Eboh, Ediri Ejoh & Prince Okafor

BUJA— MOTORISTS faced hard times as the fuel crisis situation continued across the country over the weekend with long queues witnessed in almost all the petrol stations selling the products. The situation was worsened by the fact that a number of the petrol stations were shut, with the attendants claimingthat they do not have products in their tanks. Motorists besieged the few petrol stations that are selling the product, spending between four and six hours on the queue in some cases. At the NNPC mega station, Katampe, along the AbujaKaduna expressway, about 300 cars were on the queue struggling to buy the products. A similar scenario was witnessed in almost all the petrol stations dispensing the product at the Central Business District. At the NIPCO petrol station at Arab Road in Kubwa, large number of vehicles were struggling to purchase the product, leading to a gridlock which made it difficult for other road users to ply the road. In Gwarimpa, most of the petrol stations were shut, while the few that had the product were besieged by a large number of motorists. Same situation played out in Utako, Jabi, Maitama, Dutse, Garki, Nyanya, Wuse, Asokoro and Airport Road among others. To make matters worse, a number of the petrol stations besieged by motorists were

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dispensing fuel to vehicles using only two pumps. One of the marketers in one of the petrol stations told Vanguard that it resorted to the use of only two pumps because the tanks that service the other pumps were empty.

Sharp practices Some motorists told Vanguard that the situation has led to a number of sharp practices by some marketers who now prefer to sell above the stipulated price, while some sell only at nocturnal hours to black marketers. The situation has seen a rise in fuel hawkers across Abuja, with majority of them plying their trade in front of petrol stations and major roads across the Federal Capital Territory. Effort to get the views of officials of the Department of Petroleum Resources proved abortive.

Long queues at NNPC outlets In Lagos, most of the filling stations remained locked while the Nigerian National Petroleum Corporation (NNPC) outlets, which are the only ones dispensing the product, have long queues. Vanguard investigation showed that petrol stations along FESTAC, Apapa, Badagry, Surelere, Itire, Amukoko areas of the state sold fuel at N100, as against the official price of N87. For instance, Mobil and Total, Kirikiri road were selling at N100 per litre with long

queues stretching across express roads leading to disruption in the flow of traffic. Speaking on the development, a motorist, Mohammed Yusuf, told Vanguard that the scarcity has subjected transporters to untold hardship as it has over the weekend become very difficult getting fuel to carry out their businesses. A motorist, Yusuf Samaila, said he was at a filling station along the ever busy ApapaOshodi expressway for more than two hours and was not able to buy fuel. He said: “I do not know why we suffer for basically everything in this country. There is no frequent power supply and now that we have a generator to use, getting fuel is also a problem. I have been on the queue for more than two hours.” Also, a commercial bus driver, Olu Akinyo, stated that it was unfortunate that Nigerians were experiencing fuel shortage, noting that the scarcity had encouraged sharp practices by petrol attendants, who now make brisk business.

N100 per litre at some filling stations Akinyo, while lamenting that a litre of petrol now attracts over N100 at some filling stations against the official price of N97, said: “I have been on this queue for about an hour before I was able to buy petrol. This is very bad.” Another motorist, Wale Shogunle, said he was not happy with the fuel scarcity as it had disrupted his business,

stating: “As a businessman, I operate a viewing centre, where you can watch football and play games but now, the business is affected because of scarcity of fuel.” Some commuters complained that they now pay more with a trip from Ikotun to CMS on Lagos Island, which used to cost N300 now attracting between N350 and N400, while some petrol attendants disclosed that they were selling at the price they got the new stock, which according to them, was now higher. In Owerri, Imo State capital, many of the fuel stations did not open while the few that attended to motorists sold petrol at between N150 and N170. Vanguard learnt that vehicle owners, especially commercial vehicle drivers, spent several hours at filling stations to buy fuel. The situation was the same in Port Harcourt, Rivers State capital as most of the filling stations have remained shut to customers for about four days. Vanguard gathered that 10 litres of petrol have been going for N3,000 in Port Harcourt at the black market since last week.

TUC blames private depot owners Trade Union Congress, TUC, has however blamed private depot owners for the ugly situation. TUC Chairman in the state, Mr Chika Onuegbu, accused most of them of selling

products only at night at exorbitant prices. Onuegbu said it was worrisome that this could go on particularly after the Federal Government had approved payment of N413 billion to cover backlog of petroleum subsidy. Describing the action of depot owners as shameful, Onuegbu called on Department of Petroleum Resources, DPR, the state government and other relevant agencies to wade into the matter. “Trade Union Congress, Rivers State is worried by the determination of the private depot owners to starve Rivers people of petroleum products. Currently, they have shut their depots and only selling at night at exorbitant prices.” “We call on the DPR, law enforcement agencies and the Rivers State government to force the depots open and ensure that the available products are released to petroleum marketers including IPMAN since President Buhari has approved about N413 billion subsidy payment backlog.”

We have enough stock to last 17 days —NNPC However, the NNPC had stated that it has enough stock of Premium Motor Spirit, PMS, also known as petrol, to serve the needs of Nigerians across the country for about 17 days and urged Nigerians to desist from panic buying of the product. According to the NNPC, the country currently has 656.376 million litres of PMS in its various storage platform, while it is expecting additional 756.99 million litres of the product before the end of November.

Breakdown Giving a breakdown of the figures, the NNPC explained that 66.81 million litres of PMS are in PPMC depots; 117.48 million litres are in PPMC throughputs depots; 427.971 million litres of PMS of marine stock and 44.112 million litres are in the depots of Major Oil Marketers Association of Nigeria, MOMAN. In addition, it stated that 380.99 million litres of PMS are expected to be brought in by the PPMC through import, between now and the end of the November, while other marketers are expecting 376 million litres of the products. The NNPC maintained that the current stock available in its depots and reserves are enough to serve the country for 17 days, while the products that are being awaited in the next couple of days would serve the country for 35 days minimum.

10—Vanguard, MONDAY, NOVEMBER 16, 2015

By Anayo Okoli, Joseph Erunke, Francis Igata & Chimaobi Nwaiwu

MASSOB blasts Fr. Mbaka over anti-Biafra stance

NUGU—A faction of the Movement for the Actualization of Sovereign State of Biafra,MASSOB, weekend, lashed out at Enugu Catholic Priest,Rev.Fr. Ejike Mbaka, describing his comment on the struggle for Biafra as insensitive and unguided. This is coming as MASSOB, yesterday, said that a Biafran Republic will be declared very soon without bloodbath. Fr. Mbaka had during last Saturday's sermon at his Adoration Ministry, condemned the recent agitation and protests for Biafra nation, describing the action as ‘evil.’ This came as the All Progressives Congress, APC, South-East geopolitical zone, yesterday, appealed to MASSOB and similar groups to end the drum-beat of war, as it could scuttle the quest for Nigerian president of Igbo extraction in 2023. Apparently infuriated at the fiery clergyman’s comment, Director of Information, Factional MASSOB, Mr. Uchenna Madu described Fr. Mbaka’s condemnation of Biafra struggle as,”selfish and shameful. RECEPTION: From left, Governor Ifeanyi Ugwuanyi of Enugu State (right); his wife, Mrs. "How can a reverred Igbo Monica Ugwuanyi; Deputy Senate President, Senator Ike Ekweremadu (2nd left), and Gombe clergy-man descend so low in State Governor Ibrahim Dankwanbo, in a holy mass to kick off the grand reception of Governor making such a condemnable Ugwuanyi by Enugu North senatorial zone, at St. Theresa Cathedral, Nsukka, Sunday. Photo: statement few days after President Enugu Government House Buhari’s wife visited him. “Mr. President should be aware that no that they will remain a non-violent body in money given to Mbaka, persuasion, their struggle for achieving the sovereign personal friendship with him can ever state of Biafra. “The Nigerian Police, the Army and Joint frustrate or diminish the rising status, consciousness and global re-awakening/ Police and Military Taskforce, JTF, have continued to attack us. It is not that we don’t acceptance of Biafra. know what to do, but as a nonviolent body, it will not deter us from our struggle. Gross unemployment “They trail us with over 200 troops Meantime,Spokesman of South-East APC. Mr .Osita Okechukwu has noted that shooting at us and believing that MASSOB whereas there is gross unemployment, wants to take over Nigeria; no, not it, discontent and despondency among Nigeria will be and Biafra will be. We are youths in the land, it is not peculiar to the not intrested with their Nigeria, but we are telling them that sovereign state of Biafra South East alone. “The gross unemployment is nationwide will soon be a reality,” he said. and would be addressed holistically. Luckily, our son, distinguished Senator Failure of leadership Meantime, former Federal Capital Chris Ngige is the minister in charge of employment. Pro-Biafra agitators should Territory, FCT, Commissioner of Police, stop their mass action and drums of war in Lawrence Alobi, has identified failure of the over all interest of the Ndigbo at home, leadership of the country to address injustice as well as equitable service across the country and abroad," he said. delivery to every part of the country as reasons for renewed agitation for Without bloodbath Basking in the euphoria of its successful restructuring of the country. This was just as he backed President protest last week against the detention of Director of Radio Biafra based in London, Muhammadu Buhari for scrapping the Nnamdi Kanu, the MASSOB, yesterday, Ministry of Police Affairs, saying the said that a Biafran Republic will be declared ministry was almost doing the work of Police Service Commission, PSP. very soon without bloodbath. Speaking with Vanguard, in Abuja, The Regional Director of Information for MASSOB, Anambra State, Mr. Anene weekend, the former FCT police boss, Sunday dropped the hint, yesterday, while appealed to the government to act fast by addressing newsmen in the area, adding arresting the situation through addressing

•Protests could scuttle Igbo Presidency—APC •Biafra republic'll be declared without bloodbath •Alobi, ex-police commissioner blames renewed agitation on failure of leadership •Parents of detained Nnamdi Kanu speak the issues being raised by the agitators. Nnamdi Kanu's parents speak Parents of detained promoter of Radio Biafra, Nnamdi Kanu has called on the Federal Government to release their son from detention, insisting that he has done nothing wrong for merely expressing a widely held opinion. His father, the monarch of Isiama Afaraukwu in Umuahia North Council Area of Abia State, said it was surprising to see his son detained for so long. Addressing journalists at his Ome Udo Palace, Eze Israel Kanu, flanked by his wife, Ugoeze, said that they were worried by the ordeal that their first son had been passing through. “I am pleading with the Federal Government to release my son. I am aware that in Nigeria the constitution guarantees freedom of speech and freedom of expression. “I have been asking why he is being held but I'm not getting an answer,” Eze Kanu lamented. He disclosed that his son is not the trouble making type.

Vanguard, MONDAY, NOVEMBER 16, 2015—11

Don't repeat past mistakes at elections, Buhari warns INEC, police By Levinus Nwabughiogu BUJA—President Mo hammadu Buhari has cautioned the Independent National Electoral Commission, INEC and the Nigerian Police against giving in to undue pressure from some unscrupulous politicians to taint the integrity of elections. Buhari gave the warning at a meeting he held with INEC officials and authorities of the Nige-

rian police. It will be recalled that opposition Peoples Democratic Party, PDP, last week raised alarm over the meeting between the president and the institutions, alleging suspicions. But to set the records straight, the Senior Special Assistant to the president on Media and Publicity, Mallam Garba Shehu in a reaction to the PDP’s submission on

Sunday night, stated that the president warned INEC and the police against any form of impunity during general elections. According to him, president Buhari has suffered electoral manipulations in the past and wouldn’t want a repeat of such against anyone in future elections. The president in the meeting that lasted only five minutes and

N1.04TRN FINE: MTN may not pay today •Escapes further sanctions •As NCC succumbs to staggered payment plea By Prince Osuagwu, Emeka Aginam & Bashir Adefaka

AGOS — THERE are indications that telecommunications company, MTN Nigeria, may not meet up with today’s deadline on payment of the N1.04trn fine imposed on it by the Nigerian Communications Commission, NCC. This is as a source at the NCC confirmed that the telecommunications company was yet to pay as at yesterday night. However, there is the likelihood the operator may escape further sanctions as the regulator may have

succumbed to its consistent plea for a staggered payment option. The source told Vanguard that the telecommunications giant had not paid as at Sunday night but may not be sanctioned because NCC was considering granting its plea of staggered payment over a year or two. He said: “What I can tell you now is that MTN has not paid as at today and may not likely pay because its officials have been begging for extension of the date and the payment to be granted in a staggered form. To be honest, we are considering that and may grant

them one or two years to finish the payment. But what they may not get is a reduction on the fine.” He also revealed that the regulator was going to issue a statement to this effect this morning before 11.00am.Recallthateventhenewly appointed Minister of Communications, Mr Adebayo Shittu at the weekend had said that Nigeria did not want MTN Nigeria to quit the country because of the fine but insisted that the fine must be paid. He, however, quipped that “a judgment has been given, as it were, and the period for enforcement has not yet passed.”

had the Vice President, Professor Yemi Osinbajo in attendance also cautioned the institutions against intimidating the voters during elections. According to Shehu: “The President called the meeting cited by the PDP to warn in particular, the INEC and the Police to prepare and give the nation a credible election. He said he expected nothing short of a free, fair and credible election. He said he had suffered election manipulation in 2003,2007 and 2011 and will not like to have any Nigerian go through that again. “He warned against the intimidation of voters in anyway and vowed that he was prepared to move with all the force available to him against anyone who undermines the rights of any citizen. “The meeting was short and straight to the point. It ended after five minutes.” The SSA media however added that Nigerians should be wary of the PDP’s fruitless attempts to destroy national institutions which President Buhari is determined to rebuild. “They started with the courts, then the EFCC, then onto the Police and now they are on the one-week old INEC. When will PDP allow our national institutions to do their job?”, he asked.

Former Enugu gov’s wife for burial Nov 27 By Francis Igata

NUGU—THE remains of the former first lady of Enugu State, Mrs. Nnenna Agnes Nnamani will be buried November 27, 2015. A burial programme released by her son, Mr. Chimaroke Nnamani, on behalf of the Nwankwo Anike Nnamani family of Amaiyi, Amakpu Agbani, in Enugu State, will commence with Christian Wake/ Service of Songs on November 26, 2015, at the residence of the former Governor Chimaroke Nnamani, in OjiaguAgbani, Enugu State. This will be followed by burial service/nterment on November 27, 2015, while funeral rites/condolence visits will be on November 28, all at the same venue. The former first lady, died September 4, aged 47, in Florida, United States, following complications from sickle cell disease and ruptured cerebral aneurysm.

12 — Vanguard, MONDAY, NOVEMBER 16 , 2015

LYING IN STATE & SERVICE OF SONGS OF MAMA HID AWOLOWO @ PARK LANE, APAPA, LAGOS PHOTOS: AKEEM SALAU

LYING IN STATE: From left: Rev. (Mrs) Tola Oyediran; Ambassador Tokunbo Awolowo-Dosunmu; Mr Akinwunmi Ambode, Lagos State Governor and his wife, Bolanle, during the lying in state of late Hannah Idowu Dideolu Awolowo, at the Awolowos’ residence, Park Lane, Apapa, Lagos, yesterday.

From left: Alhaji Lateef Jakande, former Lagos State governor, his wife, Abimbola, Alhaja Bintu Tinubu, and Senator Oluremi Tinubu, at the service of songs for late HID Awolowo at Park Lane, Apapa, Lagos. yesterday.

From left: Rev (Mrs) Tola Oyediran, Amb. Tokunbo Awolowo-Dosunmu, From left: Rev. (Mrs) Tola Oyediran; Asiwaju Bola Tinubu, former Governor and Dr. Gbolahan Dosunmu. of Lagos State and Mrs Bisi Osinbajo, mother of Vice President, Yemi Osinbajo.

From right, Consulate General of United States of America, Mr F. John Bray; Mr. Segun Awolowo, and Mr. Thomas Hines.

GRAND CHILDREN: From left, Olumide Oyediran, Ladi Soyode, Mrs Yemisi Subair, Mrs Kemi Aderemi and Barr. Segun Awolowo.

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Ogun State Police parade vehicle during the lying in state.

BOUQUET FOR MAMA: Consulate General of United States of America, Mr F. John Bray (right) and grand daughter, Mrs Yemisi Subair.

From left: Chief Dipo Jimilehin; Mrs. Mercy Sokoya, and Amb. James Sokoya.

Cross section of Ijaw Women Leadership Forum at the event.

Vanguard, MONDAY, NOVEMBER 16, 2015 — 13

NIS probes 2 Koreans over alleged violation of expatriate quota laws T

HE Bayelsa State Command of Nigeria Immigration Service, NIS, says it has started investigations into the immigration status of two Koreans working for an oil servicing firm in the state. Mr. Sule Wunti, the state Comptroller of NIS, said in Yenagoa on Sunday, that the investigation was as a result of a petition by the state government. “We started investigations on the matter after receiving a written complaint on the status of the two Korean expatriates. “We have equally informed our headquarters in Abuja and we must get to the root of the matter. We have also invited the expatriates for an interview and they pledged to come on November 17. Therefore, our investigations are underway,” Wunti said. Mr. Basil Kenbo, the Senior Special Assistant on Oil and Gas to the Bayelsa State Governor, alleged that the expatriates, who were working for Daewoo Nigeria Limited, had irregular work permits. Kenbo, in a letter to the NIS and the Nigerian Content Development and Monitoring Board, NCDMB, on November 6, gave the names of the expatriates as Mr I. S Seo and Mr Park SeoYoung. He urged the NIS to carry out comprehensive investigations into their true immigration status. Kenbo, who decried the abuse of Nigerian labour laws by the two foreigners, accused them of taking undue advantage of their stay in Nigeria by doing jobs which Nigerians had abundant expertise for.

He alleged that Seo had been using his position in the company to cause communal crisis in Obunagha, the host community of the Liquefied Natural Gas projects in Yenagoa. “Besides, Seo has been operating with false documentation, contrary to the terms of entry into Nigeria. “It is a fact that Seo was granted entry into Nigeria by the NIS over 20 years ago as a technician; but quite amazingly, he took appointments as Administrative Manager and Community Affairs Manager respectively, in the company at different times in the last 20 years. “Yet a worrisome and devastating development under

the unholy administration of Seo as the Community Affairs Manager is his deliberate refusal to comply with and implement Freedom to Operate, FTO, agreements, thus escalating the crisis between youths, communities and the company. “It is against this background that I write to demand thorough scrutiny and review of the expatriate quota of the company, with specific reference to the position of Community Affairs Manager. “NIS should check the permit authorising Mr. Seo’s entry into Nigeria and his work. This should be reviewed for the purposes of effective monitoring and accountability for national

development,” Kenbo said. Reacting to the issues raised in the petition, Mr Bernard James, Acting Community Affairs Manager, Infill Project, Daewoo Nigeria Limited, Gbarain, Bayelsa, argued that the company enjoyed good relations with its host communities. James, who doubles as the Coordinator of Daewoo projects in Bayelsa, denied allegations that the company had issues with its host communities.. “Since I assumed office as the Acting Community Affairs Manager of the company in May 2015, there has been a cordial relationship between the company and the host communities,” he said.

COMMISSIONING: From left: Mr. Olivier Delafosse, Country Director, French Development Agency; Mr. Lanre Adesanya, Executive Director, Sterling Bank Plc and Mr. Tunde Adeola, Regional Business Executive, Sterling Bank Plc, at the commissioning of the new BRT buses financed by the bank in Ikorodu, Lagos.

Gov Emmanuel tasks ICPC on professional ethics

By Tom Moses

OVERNOR Udom Emmanuel of Akwa Ibom State has enjoined the Independent Corrupt Practices and Other Related Offences Commission, ICPC, to uphold professional ethics in the discharge of its responsibilities so as to sustain the confidence of Nigerians in the commission. Emmanuel, who gave the advice to members of the commission at Government House, Uyo, weekend, noted that the commission, being a reputable anti-graft agency, has commanded the respect of Nigerians following its operations. Emmanuel said given the integrity of members of the commission selected purely on merit, it was impossible to believe that the body could compromise or be reduced to a tool for political witch-hunting and urged the commission to prosecute on conviction rather than on directives.

He explained that the operations of the state were anchored on transparency and accountability which was key to the industrialization blueprint of his administration, adding that Akwa Ibom people were reputed for integrity and openness in all their dealings,

thus, earning them public trust and confidence all over the world. The governor, however, decried the attitude of frivolous petitions authored by some citizens describing such petitions as smear publications rooted in misunderstandings or sheer mischief.

Earlier, the leader of the delegation and Secretary, South-South Zone of ICPC, Mr. Elvis Oglafa, said that the visit was to intimate the governor on the sensitization programme held in the state and to take the anti-corruption campaign to the doorsteps of the people at the grassroots.

INEC sued over non-issuance of voters' cards By Abdulwahab Abdulah

legal practitioner, Mrs, Jayne Eriata and 1,430 others have dragged the Independent National Electoral Commission, INEC, before a Federal High Court sitting in Benin City, Edo State, over their being allegedly denied permanent voters' cards by the commission before the last general election. Eriata and others, who are claiming N20 million as

damages, are from Ward 10, Ekpon Igueben Local Government Area of Edo State. Joined with INEC as respondents in the suit are the National Chairman of the commission and the Resident Electoral Commissioner in Edo State. Already, INEC has appeared in court to defend the action before Justice T. Liman, but asked for a short adjournment to enable it file its counter affidavit to the application. When the matter came up,

the respondents, represented by Miss Imoesi Susan, pleaded for adjournment to enable them file their counter affidavit to the application while Mrs. F. O. UhunwaOrhue, who represented the plaintiffs, did not oppose to the request for adjournment. Trial judge, Justice Liman adjourned the case to November 30, for definite hearing, while he directed the respondents to file and serve their counter affidavit within seven days.

We'll give oil communities their due — DESOPADEC By Ochuko Akuopha

LEH—DELTA State Oil Producing Areas Development Commission, DESOPADEC, has promised to give oil bearing communities across the state what is due them in terms of social services, manpower and infrastructural development. Fielding questions from newsmen, Executive Director, Social Services Development of DESOPADEC, Mr. Christopher Ochor, said that the new board of the commission would ensure that the communities get their fair share in its scheme of things. He said the state governor, Senator Ifeanyi Okowa, had given the commission the mandate to execute projects that would improve the lives of the common man in line with his “Prosperity for All Deltans” mantra. Reiterating the resolve of the commission to key into the SMART agenda of the state government, Ochor urged all Deltans to continue to support Governor Okowa to enable him fulfill his electioneering promises.

Delta councilor donates to primary school pupils

ITH the support of Nepal Oil and Gas Limited, an oil company operating in his constituency, the councilor representing Ward 13 in Ethiope West Local Government Area, Delta State, Mr. Aghogho Meretin, has put smiles on the faces of pupils in primaries 1 to 3 of Ibori, Ajanesa and Uherevie Primary Schools, all in Oghara, headquarters of the council, with the donation of educational material including 1,200 copies of You Must Read Phonetics Workbook 1, 2 and 3 worth over N500,000. Appreciating the gesture, chairman of the council, Mr Solomon Golley, wondered how the donor was able to fund the donation, saying, “I am left with no other conclusion than to say he must have raised the money from friends and well wishers,” as he urged other councilors to follow suit. Earlier, Headmistress of one of the schools, Mrs. Elizabeth Otobo, thanked the donor for the gesture.

14—Vanguard, MONDAY, NOVEMBER 16, 2015

Edo CP to Assembly: Pass stringent laws to check cultism By Simon Ebegbulem

ENIN—EDO State Commissioner of Police, Mr. Chris Ezike, has urged the state House of Assembly to pass stringent laws to stem activities of cultists in the state, noting that such laws would help reduce other violent crimes in the state. Mr. Ezike, who identified kidnapping, armed robbery and cultism as the three major crimes in the state, pointed out that cultism brews other crimes, saying that if cultism was checked, other violent crimes in the state could easily be tackled. He spoke, weekend, when he paid a courtesy visit to the Management of the University of Benin, UNIBEN. While addressing the Vice Chancellor of the University, Prof. Faraday Orumwense and other management staff, he sought for partnership with the university in the fight against cultism, saying that it was through collaboration that the war against cultists in the state could be won. While comparing the crime rate amongst the South-South states, he however, said that the activities of armed robbers may be worse in other states

than in Edo, but stressed that the issue of cultism has been worrisome to the command and the people of the state in general. He said: “In the SouthSouth region, when we talk about crime, Edo is not the best and it is also not the worst, hence the need to interface with tertiary institutions. That is why we are appealing to the House

of Assembly to pass stringent laws that will help check the activities of cultists. We have found out that when people join cults, they can easily turn to armed robbery and kidnapping and that is why we must focus on how to stem cultism.” He tasked the university on research to find lasting solution to criminality and also how the public can assist

the police in the fight against crime. Ezike also advocated the restructuring of the “students moral fabrics,” just as he charged parents and worship centres within the University “to take deep look at their wards. While we (police) wield the big stick, we believe that the carrot approach will bring faster results.”

VISIT: From left: Speaker, Akwa Ibom State House of Assembly, Mr. Aniekan Uko; Senate Minority Leader, Godswill Akpabio, Senator Bassey Albert and Akwa Ibom State chairman of Peoples Democratic Party, PDP, Obong Paul Ekpo, during a courtesy visit by Akwa Ibom State lawmakers to the Senate Minority Leader in his office at the National Assembly, in Abuja, weekend.

Relief, as rehabilitation on Onne Seaport access road begins

ELIEF has come to users of Onne Seaport in Rivers State as Governor Nyesom Wike, in collaboration with Intels Nigeria Limited and other companies, has kicked off rehabilitation work on the failed 6km portion of East-West Road, particularly between Eleme and Onne Port junctions, in Port Harcourt, the state capital. According to the Head, Public Relations and Nigerian Content Development for INL, Mr. Isidore Sambol, after many years of waiting for the Federal Government to intervene, with no luck, the state government, alongside leading oil and gas operators, contracted Reynolds Construction company, RCC, to rehabilitate the road. Isidore said: “Barely five weeks into his administration, Governor Wike met with some major investors in the affected area and the leaders agreed that waiting for the Federal Government was not an option. The partnership decided that a way forward towards growing and sustaining business activities in the state, was to fast-track economic growth. “It is now three months since companies like Intels Nigeria Ltd, Indorama Limited, West African Container Terminal, Port Harcourt Refining Company, Nigerian Ports Authority and Onne Free Zones Authority, made commitment financially to the

reconstruction of this very critical road essential to interstate commuters and the all-important road to the Onne Port and oil and gas services centre. “The commitment is costing the companies and the Rivers

State Government N3 billion with Intels contributing a third of the cost and the contractor guaranteeing the road work to remain of good quality, as well as to sustain free flow of traffic within the project area for a

minimum of two years from date of completion.” The Intel spokesman added: "The project is about identifying with the communities and giving back to society, being in business for the common good.”

Delta'll sustain devt initiatives —Otuaro By Emma Amazie

SABA—DEPUTY governor of Delta State, Mr Kingsley Otuaro, weekend, said the state government would continue to pursue and guarantee a peaceful state, necessary for actualization of its programmes. Otuaro gave the assurance while receiving the awardwinning Federal University of Petroleum Resources, FUPRE, Shell Eco-Marathon Team, which recently won two of the six awards in South Africa. The FUPRE team, led by its Vice Chancellor, Prof. Akii Ibhadode, had praised the Governor Ifeanyi Okowa-led government for creating the enabling peace for academic growth following its intervention that resolved the university’s crisis with its host community, Ugbomro. Ibhadode, while presenting

the awards to the state government, said the two awards won by FUPRE, were the best gasoline prototype vehicle with the highest efficiency of 55.9km/litre, as well as the best innovative vehicle design. The vice chancellor appealed to the government to assist it in establishing an

Industrial Research and Vocational Enterprise Centre to provide urgently needed skills to youths for the oil industry. In his response, Otuaro said that the state government was proud of the honour done it and the nation by a federal university in its domain.

‘Why INEC can’t prosecute all electoral offenders' By Omeiza Ajayi

HE Independent National Electoral Commission, INEC, has not been able to successfully prosecute electoral offenders because it lacks the capacity and resources required for such undertaking, a report has shown. Recently unveiled in Abuja, the 2015 General Elections Report recalled that at the end of the voter registration exercise in 2011, about 870, 000 cases of registration offences were uncovered. Of the figure, INEC was only able to prosecute a little over 200 cases. The report was commissioned by INEC with support from key development partners including the European Union and the United Nations Development Programme, UNDP. For the 2015 general elections, the report was silent on the number of cases, but the commission’s Director in charge of Voter Education, Publicity, Civil Society and Gender Liaison, Oluwole Osaze-Uzi, said INEC has not finished collating the total figure. However, the report added that for the last election, the Open Society Initiative for West Africa, OSIWA, gave a grant of N13.9 million for the prosecution of electoral offences and gazette of electoral regulation. Former INEC chairman, Prof. Attahiru Jega, had, after the elections in April, expressed the preparedness of the commission to prosecute some identified electoral offenders. Among those being prosecuted included a former Director-General of the National Youth Service Corps, NYSC, as well as some youth corps members.

Okolugbo faults presidential aide on A-Ibom gov By Oboh Agbonkhese

statement credited to Senator Ita Enang that Mr. Udom Emmanuel was no longer the constitutional governor of Akwa Ibom State has been described as “highly irresponsible.” A public affairs commentator, Sir Kenny Okolugbo, said Enang, the Special Adviser to President Muhammadu Buhari on

National Assembly Matters (Senate), should know that the Electoral Act clearly has the tribunal as a court of first instance, with the Supreme Court as the final arbiter. He said: “It is on record that Governor Udom has appealed the judgement that nullified elections in 18 local governments of the state. Therefore, unless the Appeal Court rules on the matter, which could still be subjected

to the Supreme Court’s judgment, nothing can be said to have been done.” Citing the Rivers State’s case, where he said Mr Nyesom Wike remains the governor until the Supreme Court rules, he said that Enang, who rose to become a lawmaker should know better not to run commentary on a court case and “make mockery of the law.”

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Nigerian solves 156-yr-old Riemann mathematics hypothesis •Gets $1 million reward A

By Rotimi Ojomoyela

DO-EKITI—THE 156-yearold Riemann Hypothesis, one of the most important problems in Mathematics, has been successfully resolved by Nigeria Scholar, Dr. Opeyemi Enoch. With this breakthrough, Dr Enoch, who teaches at the Federal University, Oye Ekiti, FUOYE, has become the fourth egghead to resolve one of the seven Millennium Problems in Mathematics. The Kogi State-born mathematician had, before now, worked on mathematical models and structures for generating electricity from sound, thunder and Oceanic bodies. A statement in Ado Ekiti yesterday said Dr Enoch's presentation of the Proof on November 11, 2015 during the International Conference on Mathematics and Computer Science in Vienna, Austria becomes more symbolic coming on the exact day and month 156 years after the problem was delivered by a German Mathematician in 1859. The Riemann Zeta Hypothesis is one of the seven Millennium problems set by the Clay Mathematics Institute with a million Dollar reward for each solved problem for the past 16 years. According to the statement; “Dr Enoch first investigated and then established the claims of Riemann. He went on to consider and to correct the misconceptions that were communicated by Mathematicians in the past generations, thus paving way for his solutions and proofs to be established. “He also showed how other problems of this kind can be formulated and obtained the

matrix that Hilbert and Poly predicted will give these undiscovered solutions. He revealed how these solutions are applicable in cryptography, quantum information science and in quantum computers,” it stated.

Three of the problems had been solved and the prizes given to the winners. This makes it the fourth to be solved of all the seven problems. Dr. Enoch had previously designed a Prototypeofasiloforpeasantfarmersand also discovered a scientific technique for

detectingandtrackingsomeoneonan evil mission. Enoch has succeeded in inventing methods by which oil pipelines can be protected from vandalism and he is currently working on Mathematical approaches to Climate Change.

CONVOCATION: From left: Ondo State Head of Service, Mr. Toyin Akinkuotu; Chaplain, Rev. Fr. Valentine Omolakin, Vice Chancellor, Professor Adebiyi Daramola, and his wife, Cecilia, at the interdenominational service commemorating the 27th convocation of Federal University of Technology, Akure, FUTA, at St. Albert Chapel of Faith, Akure, yesterday.

Minister shuns reception by Ondo APC

By Dayo Johnson

KURE—THE crisis within the opposition All Progressive Congress, APC, in Ondo State deepened weekend when the newly appointed Minister of State for Niger Delta, Prof. Claudius Daramola, shunned a reception organized for him in the state by the Party. All has not been well with the leadership of the party in the state since Daramola was nominated as minister to represent the state by President Muhammadu Buhari. Members of the state executives of the party have been polarized with some pitching tents with two gladiators interested in the governorship position next year. Vanguard gathered that senator Ajayi Boroffice representing the northern senatorial area of the state intheNationalAssemblyandaformer governorshipcandidateofthedefunct ACN Oluwarotimi Akeredolu SAN have divided the party over their ambitions.

FG using Remita to defraud Nigeria —Fayose •Says ‘I won't attend governors' meeting on TSA' By Charles Kumolu & Rotimi Ojomoyela

DOP-EKITI—EKITI State governor, Mr. Ayodele Fayose has accused the Federal Government of using an ePayment firm, Remita to defraud Nigeria, saying he would not attend a meeting summoned by the government to discuss the Treasury Single Account, TSA. This came as the governor said should the All Progressives Congress, APC, decide to boycott the forthcoming local government

elections in Ekiti, the exercise would still hold on December 19, as scheduled. Fayose in a statement by his Special Assistant on Public Communications and New Media, Mr. Lere Olayinka claimed that the TSA was a policy aimed at raising money for the forthcoming Kogi and Bayelsa States governorship polls. His words: ‘’Ekiti State is entitled to its own policies and it is not under any obligation to accept Federal Government policies, especially the TSA that is already

robed in the garment of fraud. I therefore wish to state categorically that Ekiti State is not interested in the TSA policy and since the state is not interested, I, as the custodian of the popular mandate of the entire people of the state will not attend any meeting called by the Federal Government on the TSA. “TSA is also meant to enrich some individuals for doing virtually nothing and that can be seen from the discovery of N25 billion that already accrued

to just a single company in one month. How can the Federal Government justify a transaction in which a single company gets one percent, amounting to N25 billion in one month? “Shouldn’t the one per cent commission have been negotiated downward to like 0.1 percent which would have reduced the N25 billion to N2.5 billion? Even manufacturing companies, with thousands of employees don’t make N25 billion profit in one month.’’

Osun shuts 5 federal agencies over N220m tax By Gbenga Olarinoye

SOGBO—OSUN State Internal Revenue Service OSIRS has shut five federal establishments in the state

over non-remittance of taxes due to the state government totaling about N220 million. The defaulting federal establishments

include Nigeria National Petroleum Corporation NNPC, Retail Mega Station in Osogbo, Bank of Agriculture, Osogbo branch, National Centre for Technology M a n a g e m e n t NACETEM, Obafemi Awolowo University OAU, Ile-Ife, African Regional Centre for Space Science Technology, OAU, Ile-Ife and International School, OAU campus. The Acting Chairman/ Chief Executive Officer, Osun State Internal Revenue Service, Mr. Dayo Oyebanji who led the revenue team to the affected establishments said the revenue service took the action after it had secured court injunction to carry out the exercise

in accordance to the relevant law of the land. According to him; “The establishments were sealed in pursuant to the provisions of Section 104 of the Personal Income Tax Act 2004 as amended in 2011." Oyebanji also warned other federal establishments that were yet to join Integrated Personnel Pay Roll System IPPIS to do so and pay up their PAYE debt to the state. Those he said were yet to join IPPIS pay roll system included FERMA, INEC, NSCDC, NECO, Nigeria Prison Service, NPS, and Nigeria Customs Service, NCS.’’

16—Vanguard, MONDAY, NOVEMBER 16 , 2015

the home to Mama. Papa never sat at the head of the table. He ceded it to Mama," Osoba added. On the Yoruba nation, the former governor said: “We are going through a dangerous and trying time in Yorubaland. I pray that if only for the memory of Mama, we should all bury our differences and come together.”

Ambode urges Nigeria to pay attention to non-oil sectors By Naomi Uzor

AGOS — GOVERNOR Akinwunmi Ambode of Lagos State, yesterday, urged the country to pay more attention to the non-oil sectors of the economy in view of the dwindling revenue from oil. Governor Ambode, who spoke at the closing ceremony of the 2015 Lagos International Trade Fair held at the Tafawa Balewa Square (TBS), Lagos, said as a proactive response to the issues in the oil sector, Nigeria must embrace other sectors so as to garner resources to address the critical needs of the people. Alluding to the fact that the theme of the Trade Fair, “Enhancing Value Addition in the Non-Oil Economy,” was apt, Governor Ambode said there was need to look inward for alternative and sustainable revenue sources apart from oil. The governor said that already, Lagos has been in the forefront of generating non-oil revenues, and that the state had accounted for over 65 percent of the nation’s non-oil Gross Domestic Product, and over 60 percent of the country ’s value added manufacturing. He urged members of the business community to consolidate on the gains recorded so far, by following up the relationship already established with government for mutually beneficial business and investment.

Pirates kill 2, abduct 3 in fishing trawlers' attack By Godwin Oritse

ARELY a month after celebrating remarkable drop in attacks by sea robbers, there were indications, yesterday, that such attacks have resumed leaving two sailors dead and three abducted. Disclosing this to Vanguard, Chairman, Fishing Zone of Nigerian Merchant Navy Officers and Water Transport Senior Staff Association, Captain Isaac Esiekpe, said pirates have attacked two trawlers along Bonny Anchorage in Rivers State. Esiekpe also said the recent attacks left two crew members dead, three abducted and two seriously injured and are currently in the hospital.

H.I.D Awolowo lives forever — Jakande

TRADE FAIR: From left, Deputy President, Lagos Chamber of Commerce and Industry (LCCI), Chief Nike Akande; President, LCCI, Alhaji Remi Bello, presenting a souvenir of the trade fair to Governor Akinwunmi Ambode of Lagos State at the closing ceremony of the Lagos International Trade Fair in Lagos yesterday. Photo: NAN.

Ambode, Ajimobi lead sympathisers as HID Awolowo begins final journey •Jakande, Osoba, Adebanjo, others eulogise her •Ajimobi orders closure of Agbeni market today By Leke Adeseri, South West Regional Editor & Monsuru Olowoopejo

AGOS— GOVERNOR Akinwunmi Ambode of Lagos State and his Oyo State counterpart, Abiola Ajimobi, are leading citizens of their states to the final burial events for Mrs Hannah Idowu Dideolu, HID, Awolowo as the final burial rights commence. She died on September 19, and the rights which started with lying-in-state at her Park Lane residence in Apapa, yesterday, is expected to climax with the interment scheduled for November 25 when she would have been 100 years old. Governor Akinwunmi Ambode, yesterday, joined scores of residents at the lying-in-state of late HID Awolowo at the family’s residence in Park Lane, Apapa Speaking shortly after the rites, Ambode said Mama Awolowo’s demise was a great loss to Lagos as she was a major force in the development of trade and commerce in the state. He said: “For the fact that the final burial rites of Mama is commencing in Lagos State signifies that this is a loss to the whole of Lagosians and the mere fact that we are remembering Mama from Park Lane also shows that she’s been a major bastion of commerce and trade in the whole development of Lagos State. “For us, this is a major loss to Lagos, it’s not even about the Yoruba race alone. So, coming here is just to show that together we would remember Mama for every good thing that she’s been. She’s been very humble, very generous and like Papa always said, she was indeed a jewel of inestimable value.”

Meantime, Governor Abiola Ajimobi of Oyo State has called on the citizens of the state to be part of history by turning out in large numbers to witness the activities scheduled for the final burial rites of Chief HID Awolowo, in Ibadan, today.

of the Pan-Yoruba social group, Afenifere; Chief Ayo Adebanjo among others. They all took turn to eulogise the late H.I.D Awolowo.

Ajimobi orders closure of Agbeni market today

Osoba told Vanguard after the service of songs that the late H.I.D was one of the greatest women God blessed the nation with and called for the unity of the Yoruba nation. His words: “She was one of the greatest women of this nation. One thing I will never forget about her was her food. Her food was always delicious. Any time we have dinner with Mama and Papa Awolowo, we used to lick our tongues all night. “In her life time, she was the head of the home. Papa ceded

A statement from the office of the Secretary to the State Government quoted the governor as saying that the matriarch of the dynasty of the late Premier of Western Region, Chief Obafemi Awolowo, deserved a burial befitting a heroine. As a mark of respect, the governor has ordered a temporary closure of the popular Agbeni market today due to its contiguous location to the Methodist Church, Agbeni, where a commendation service would be held for the deceased by 9 am. The statement said the closure became necessary to prevent avoidable gridlock and the attendant pains it could cause traders and commuters plying the area.

Jakande, Osoba, Adebanjo, others eulogise her

Meanwhile, former Governors of Lagos and Ogun States, Alhaji Lateef Jakande and Chief Olusegun Osoba; Senator Oluremi Tinubu and other dignitaries, yesterday, visited the Lagos home of the late Chief Obafemi Awolowo to pay their last respect to his late widow, H.I.D Awolowo. Other dignitaries, who attended the lying-in-state and service of songs were Mrs. Abba Folawiyo; former Surveyor-General of Lagos State, Mr. Joseph Agbenla; leader

I hope her death will unite Yoruba nation —Osoba

Alhaji Lateef Jakande, first civilian governor of Lagos State, who attended the service of songs for the late matriarch, recalled her managerial skills as the chairman of Nigerian Tribune newspapers. According to him, “she was a great woman. We have very few women of her calibre. Her integrity and industriousness would be missed. She was the moving spirit in the Nigerian Tribune. I will say that HID Awolowo lives forever.”

We have missed one of the stars of her generation —Adebanjo

Afenifere chieftain, Chief Ayo Adebanjo, described the late H.I.D as: “The mother of the nation. She was one of the blessings God gave to Nigeria. All the achievements of the late Chief Obafemi Awolowo couldn’t have been possible without her contribution. In fact, her late husband acknowledged it. “She was very loyal and an enterprising woman who shares the view of her husband. She stood by her husband all through. When late Chief Awolowo was in prison, she stood firmly by him. She was a role model. We have missed one of the stars of her generation. I pray that God will bless Nigeria with another HID.”

She was a jewel of an estimable value —Grandson

Also describing her grandmother, Olusegun Awolowo said: “She was a jewel of an estimable value and that is what she remained to all of us. Mama lived through Nigeria’s history. When she married late Obafemi Awolowo, my grandfather, she married everything about him.”

IG orders fresh probe into LUTH consultant’s death By Monsuru Olowoopejo

AGOS— THE Inspector General of Police, Mr Solomon Arase, has ordered fresh investigation to unravel the cause of death of Lagos University Teaching Hospital, LUTH, consultant, Dr. Hestianna IdiodiThomas. The order was in response to the petition filed by the coalition of human rights organizations under the aegis of Concerned Women Voices, CWV, on November 3, 2015 to the Inspector General of Police,

demanding a fresh autopsy to ascertain the cause of the later doctor’s death. They alleged that a lot of issues have already been swept under the carpet concerning the mysterious death of the woman who died barely a month ago. Speaking on behalf of the group, weekend, Mrs. Josephine Effah-Chukwuma of Project Alert and Violence Against Women disclosed that the Inspector General of Police, had last Wednesday, November 11, 2015 ordered the AIG Zone 2 to commence fresh investigation into the alleged murder of the doctor.

Vanguard, MONDAY, NOVEMBER 16, 2015—17

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18 — Vanguard, MONDAY, NOVEMBER 16, 2015 DURING the inauguration of his cabinet, President Muhammadu Buhari last week commended the Central Bank of Nigeria (CBN) for assisting more than 30 states of the federation with concessionary loans to offset salary arrears for their workers. The President observed that the Bank also implemented countryspecific and innovative policies that had helped to stabilise the exchange rate and conserve the nation’s reserves. The president had conceded to the plea of state governors for help and approved an epochmaking financial bailout package to enable them settle salary arrears in order to avert looming industrial unrest in the affected states. Profligate campaign spending and steeply dwindling oil revenues left most state governments cash-strapped and unable to carry out their basic financial responsibilities shortly after the May 29 th hand-over date. We are, however, not altogether

The bailout the economy needs satisfied with the manner in which the bailout was administered in some states. The Governor of Kogi State, for instance, is alleging political victimisation in that even after fulfilling all the conditions for the release of the bailout fund, the CBN has refused to hand it over for the payment of workers. The bailout issue should not be politicised. Rather, the money should be released to all states which fulfill the conditions laid down by the CBN. Strenuous efforts should be made to ensure that it is strictly deployed to offset workers’ salaries.

The Federal Government should monitor the ways that governors are spending their bailout fund and ensure that it is not diverted to other purposes. It is the constitutional duty of state assemblies to ensure prudent spending of resources by the executive branch. Unfortunately, they abdicated this balance of power function, which was why many governors found it easy to bankrupt their states. The Buhari administration should encourage state assemblies to be up and doing in their oversight of the financial resources of states to

avoid a situation where states will come back for another bailout. The CBN must resist pressure from the politicians for further bailouts to pay workers’ salaries. States should now settle down to explore ways of raising revenues and maintaining their services. Good governance is not just about spending of funds from federal allocation. It is also about being able to introduce policies and programmes that grow the revenue bases of governments. The CBN should actively turn its attention to the possible bailout of the real sector of the economy, particularly agriculture, mining and small/medium business to create employment and expand the economy. We should learn from US President, Barack Obama’s bailout of the US real sector after the 2008 financial meltdown. This helped to restore the American economy to robust health. That is the bailout our economy needs.

OPINION Between war and peace By Chuk Iloegbunam

HE proposition seems to be this: Because there are separatist agitations or campaigns for self-determination across Nigeria, the drums of war must be rolled out. But the choice before the country should not be war or peace. It should be peace because the world teems with examples of societies that experienced the sort of challenges currently facing Nigeria and emerged from them without killing each other. What are Nigeria’s immediate political challenges? Reuben Abati, spokesman to ex-President Jonathan articulated them in Biafra, O’odua, and the 7th lesson, an article published in the Vanguard of October 30, 2015: According to Dr. Abati,“[T]he biggest challenge that the Nigerian state faces today, tearing into the very idea of statehood, and of democracy, is the centrifugal pull from every direction that seems to have become disturbingly incremental. In the North Eastern part of the country, with the tragedy spreading, with casualties increasing, you have the heart-wrenching Boko Haram menace…The Haram fundamentalists want a divided Nigeria...In the Middle Belt, an indigenesettler dichotomy, mutating as majoritiesminorities conflict at the heart of Northern community relations, or as pastoralistsfarmer confrontation has created seasons

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of violence and bloodshed with strong allegations of genocide and no sign of immediate abatement. In the South West, the recent abduction of a Yoruba leader, Chief Olu Falae by persons alleged to be Fulani herdsmen has resulted in the exchange of hate speech among Yoruba and Fulani ethnic champions defending territory, rights and identity…a group of Yoruba elders demanded that Fulani herdsmen should be expelled from Yoruba territory and that should the provocation continue, the Yoruba with their 50 million population will be prepared to exit Nigeria. In the Eastern part of the country, there is a resurgence of Biafran nationalism; young Igbos in diaspora, are insisting on the creation of a Republic of Biafra…In the South South, there is a renewed consciousness of oil citizenship, with the Ijaw whose kinsman recently lost power at the centre protesting that they are victims of Hausa/Fulani harassment, and intimidation.” Dr. Abati’s analysis is comprehensive. But, in my view, he shot wide by locating the country’s biggest challenge in “the centrifugal pull from every direction” that it is taking. No. Nigeria’s biggest

People abound who would see rain clouds gathering but remain incapable of guessing what they portend

challenge is to appreciate the place of centripetal measures as agents for mastering identified challenges, and to deploy them with convenient speed. That’s not being done, unfortunately. Take Biafra, which currently appears to have commandeered most of the headlines. It is no solution to keep at scaremongering, by highlighting the hell that was the secessionist Republic of Biafra. That amounts to bandaging a septic sore in the hope of wangling a cure. A more sensible approach would be to address the concerns on whose wings the renewed Biafran agitation is flying. Why should this be an impossible road to travel? President Buhari’s ascription of the spread of Boko Haram terror to the extrajudicial slaying of the sect’s leader is in total support of the thesis here. Another good example: President Obasanjo’s 1999 military expedition that wiped out Odi in Bayelsa State, costing some 2500 lives, was an important factor in the escalation of militancy in the Niger Delta. Now, it took visionary leadership by the government of President Umaru Musa Yar’Adua, to halt and reverse the militancy that was close to destroying the national economy. Therefore, this question: why is the new, violence free agitation for Biafra, not being addressed with similar political astuteness? During July, Nigeria released 182 Boko Haram prisoners. Boko Haram is the most violent terrorist group in Africa, whose war against the country has cost over 5000 lives. The Federal Government has raised N58.8 billion in Victims’ Support Fund

(VSF) for the North East, and also secured a World Bank loan of N393.9 billion, to rebuild its infrastructure and resettle the internally displaced. In contradistinction, all Federal roads in the South East are impassable, while erosion continues to shred the entire region. Therefore, to refute charges of scornful neglect and marginalisation, the Federal Government should have deployed even one single Naira to check these calamities. Instead, peaceful Biafran agitators are being hounded into jails. Thisday of October 21, 2015 reports that the Police detained scores of peaceful Biafran agitators, mostly women, in Awka, Anambra State. The State Police Commissioner, Hosea Karma, said that the detained were parading along the Enugu-Onitsha expressway, disturbing the relative peace in the state and, therefore, deserved to be punished! People abound who would see rain clouds gathering but remain incapable of guessing what they portend. Biafran agitators should please remain nonviolent. Those in contact with them must make this point abundantly clear. Already, Obasanjo has added to Mr. Karma’s arbitrariness by demonising them as criminals and miscreants. Isn’t the crass pronouncement of this turbulent man part of an attempt to set the people up for mob action and decimation? Warning: It isn’t necessary to play into vicious hands itching to finish the uncompleted assignment of the Nigeria/ Biafra War. *Mr. Iloegbunam, an author, wrote from Lagos.

Vanguard, MONDAY, NOVEMBER 16, 2015—19 Send Opinions & Letters to: opinions1234@yahoo.com

I don’t want another country

OME days ago, I woke up to find that someone, or group had decided to change my country. It was there on Facebook; a supposed map of a new country called Biafra. I was neither consulted nor my opinion sought. I am not also aware that the Ijaws, who are my parents, our neigbours the Isokos, Itsekiris, Urhobos, Efiks, Ibibios, Orons etcetera, were consulted. Some fellow Nigerians in demonstrating their right to selfdetermination, decided that I do not have the right to be consulted. If I were to reincarnate and have power of choice, I would ordinarily, not decide to be a Nigerian. I would prefer to be an African, in that united continent Kwame Nkrumah prophesied, with a single government, currency, economy and citizenship. I will not trade a continent for another small enclave, while industrialised Europe has almost evolved into one entity. That will not be strategic thinking, it will be collective backwardness. I understand why the agitators need the Southern nationalities;

they require their oil and gas resources, and access to the sea. But they are being quixotic by forcing these peoples into a map. They need to consult and persuade. But this will be difficult as the advocates of a new Biafra have not made public any known philosophy, ideology, vision, road map, socio-economic programme or policy, including on peoples and minority rights. I have read some juvenile Boko Haram Shekarau-like outbursts by the new kid on the bloc, Nnamdi Kalu of the Indigenous Peoples of Biafra (IPOB) who vomits words like “If they don’t give us Biafra, no human being will remain alone in Nigeria by that time; we shall turn everybody into corpses; you better go and buy your coffin.” He reminds me of the quixotic ‘uprising’ by the Biafra Zionist Federation led by Benjamin Igwe Onwuka who on June 5, 2014 tried to seize the Enugu State Broadcasting Service (ESBS) ostensibly to declare a Biafra Republic. Apart from these, I have seen photographs of people in

camouflage doing drills in alleged preparation for war to actualise Biafra. I am not sure they know what they are doing. I was six when the civil war broke out. Until this day, I still recall the faces of my play mates like Ngozi Eze, who left for the East and never came back when their families returned. You imagine the trauma the rest of their families went through. I also, still recall the faces of my uncles; Anusi, and Wisdom Fakrogha, who went to that war, and never returned. It is not just about the massive destruction, starvation and early graves. It included injuries that never healed, scars that people carry in their hearts. Like John Pepper Clarke wrote, in his poem, The Casualties. “The casualties are not only those who are dead… The casualties are not only those who started fire and now cannot put out. Thousands are burning that have no say in the matter…We are all casualties.”

The conquered are not necessarily those who are said to have lost the civil war forty five years ago, but those on either side who lost their lives, income, property and loved ones

Social media and the Biafran monologues By Emeka Odikpo

HE emergence of a new media without rules and boundaries is now an intrinsic part of this decade. Old media practitioners that failed to get tech savvy and adjust to existing realities are getting swept from the new market place of ideas. Whilst bloggers, whose only claim to journalism fame is their knowledge of “cut and paste” are emerging as billionaires, on the other hand print houses are closing down in droves. Practically all our previously buoyant weekly news magazines are down and out. The new kids on the block are the solo twitter and facebook warriors. Their weapons are usually a hard nosed ability to engage in repetitive monologue, coupled with all out trolling against their perceived adversaries. The last elections announced the arrival of the social media as the political propaganda weapon of choice. All manner of messages were thrown at the opposing party and well a whole lot of times tribe. All types of crude language was deployed against every notable tribe in Nigeria. The hate warriors, who ordinarily would have been censored by the traditional media made huge and noisy intrusion into National Discourse. In the process strange alliances were formed across the social media platforms. The moderates allowed the fanatics to hijack their moderate views and amplify it out of all context, after all it all served to justify the correctness of their political beliefs. The recent upsurge in Pro-Biafran protests is partly derived from the deluge of political and hate messages that seized Nigeria for almost a year. The fanatics continued with

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their hate campaign long after the election has been won and lost. The moderates retreated back to their day jobs and left the supposed loonies to continue with a battle that has been won and lost, at least until the next general election arrives. Now all of a sudden, these fanatics appear to have seized the market place of ideas. They repeat their worn messages in various shapes and shades ad infinitum. To make matters worse, they still believe that the moderates are still on the same page with them on their new wars. Their old adversaries, who are also the extremists on the other side of the political divide (and usually unfortunately tribal divide) continue to engage them in internet curse fest. The end result is a hardening of positions amongst these young and feisty characters.

If those of us who are Igbos and genuinely believe that our people don’t need a tiny country that restricts our abilities elect to keep our brains and mouth shut, whilst the aggressive anarchists continue to have a field day on the social media, we might as well be on the road to Boko Haram

I read about people on both sides, glorifying the civil war. Yes, it was a glorious war; but not for the two million who lost their lives. It was a heroic war; but not for the children taken to Gabon who never returned. War can be glamorous, but not for the dead. Not for those who become invalid, the widowed and the orphaned. For the true victims, the pain never really goes away. For Kalu and his group who argue that the Igbos are a conquered people in bondage, needing to be free, I say the conquered are not necessarily those who are said to have lost the civil war forty five years ago, but those on either side who lost their lives, income, property and loved ones. The victors are not necessarily those who sing victory songs; but those who smile to the banks having made fortunes selling arms and rice, boots and aircraft, bombs and relief materials to all sides in the conflict. When during the 1962 Missile Crisis over Cuba, and American President, John .F. Kennedy was toying with the idea of going to war, then Soviet Union leader, Nikita Khrushchev wrote him, warning "I have participated in two world wars and know that war ends only when it has rolled through cities and villages, everywhere sowing death and destruction. For such is the logic of war. If people do not display wisdom, they will clash like blind moles and then, mutual annihilation will commence.” But if we want to persuade our angry compatriots to remain, we must understand why they want out. I turn to Kalu to understand

Biafra as a country was never meant to be romanticised. It was a historical and highly unfortunate necessity that arose directly from a split in the Nigerian Army. Once the army turned their guns on their own men and started killing themselves and innocent Nigerians based only on tribe, the very fabric of the union was lost. The coercive element of the State cannot be a weapon for genocide and the tribe receiving the cleansing expected not to fight back. The horrible split of the army in 1966 is something that all right thinking men must pray never repeats itself in Nigeria. The present day IPOB and MASSOB members are mostly young men in their twenties who fantasise about an idyllic country. Their position is premised on a fantasy that once their dream country is delivered, all their economic problems will immediately disappear and the land of milk and honey will be achieved. This has nothing to do with hard nosed economic theories. Fact is that the Igbos are an enterprising and business savvy people. We are a people that actually need an Africa without all the artificial boundaries cruelly erected by the Europeans. The self same Europeans have since ensured that they have a Europe with little or no borders. Whilst you will have difficulty transporting a carton of goods across Seme Border, you can virtually engage in any trade, or practice any profession across the entire European Union. What we actually need in Africa is not further balkanisation of existing countries, but a serious minded implementation of Pan-African economic policies. That slant of policy will give all of us a much bigger market to operate freely within. That is the type of market the Igbo man needs and not this tunnel vision being propagated by our new found facebook warriors in their Biafran monologues. As a people, we do tend to exaggerate the effect of government in our lives. Yes Government can construct roads and create better enabling environment for

him. First he claims that the operation of the Federal Character provision and development, is lopsided. In other words, Igbos are marginalised. But interestingly, most or all nationalities in the country feel the same way. He says Igbos are killed in parts of the country. Ironically, the ‘killing fields’ today are in the North East, and Middle Belt where all Nigerians are victims. He argues that Nigeria is an artificial creation. I agree fully with him; but which country is not? Even the Biafra, his group wants to create will also be an artificial one. He laments that while the soldiers on the Federal side were paid, those who fought for Biafra were not. Whatever the arguments; this appears more an administrative issue, and less a reason for secession. He pointed at corruption, mass unemployment and injustice in what he calls the “Zoological Republic of Nigeria.” Doubtlessly, there is injustice; to the poor and powerless; the voiceless and the vulnerable. But the solution cannot be the balkanization of the country; rather, it is to fight these ills. Even if I am left out of Biafra as I desire, I don’t want a passport to go drink from the knowledge of Arthur Nwankwo in Enugu, visit Maxim Uzotu, ‘the god of poetry’ or share a drink with Anaele Ihuoma in Owerri. We cannot deny those who clamour for a new country, but the rest of us have the duty and right to propagate our desire for a united Nigeria, and an integrated Africa.

private enterprise, but the human spirit still outweighs governmental impact in development of communities. That is why some towns in the South East have multimillionaires in every kindred, because the people have the know how and the unrelenting positive attitude that pertains to economic enterprise. These big investors and even the smaller investors are wheels through which most of our people realise their economic potentials and earn valuable income to better their lives. Our focus must be on how to create a better and larger environment for these investors and consequently the larger society to thrive and definitely not on how to shut them down in a tiny country. As the Biafran Monologues on the social media continues, our new government will do well to unconditionally release Daniel Kanu, whose detention has proved to be ill advised. His so called Radio Biafra is totally inconsequential in the market place of ideas, he only used it as an example of his defiance. If the government had ignored it and him long enough, romanticists would have moved on to other issues. Also, moderate Igbo intelligentsia must step into this market place of ideas and proffer their own side of the argument on why we need a larger country. If those of us who are Igbos and genuinely believe that our people don’t need a tiny country that restricts our abilities, elect to keep our brains and mouth shut, whilst the aggressive anarchists continue to have a field day on the social media, we might as well be on the road to Boko Haram. This was exactly how the Northern elite kept mute and dissembled whilst the Boko Haram ideology festered.

*Mr. Odikpo, a legal practitioner, wrote from Lagos.

20—Vanguard, MONDAY, NOVEMBER 16, 2015

HE mass anger among the Igbo youth is justified as I noted in the first part of this article. But is secession or the call for Biafra the answer? The purpose of this second part is to put across my opinion that secession is neither viable nor in the best interest of the Igbo nation. I will try and proffer what I believe is the way forward. Should the Igbos react to 45 years of their political marginalisation (which has been compounded by President Muhammadu Buhari’s extremely narrow-minded Arewa nepotism) by bolting away from a Nigerian commonwealth of which they are a founding father and deeply rooted stakeholder? The second question is: how does Biafra even come into the Igbo political equation? The youth need to be properly informed about the roles played by the various ethnic groups, especially the three Majorities (Igbo, Hausa/Fulani and Yoruba) in negotiating the independence of Nigeria from the British colonialists. The ideas they brought to the negotiation table during the constitutional talks in London and Ibadan in the 1950s depicted their visions of independent Nigeria and their respective places in it. The Northern group led by Alhaji Ahmadu Bello wanted an independent Nigeria where their Islamic heritage would not be tampered with; where the North would not be disadvantaged by the South’s advanced educational standing and affinity to the Western lifestyle. For them, it was either they were allowed to feel comfortable in an independent Nigeria or they would not be part of it. The North was, originally, the first group to attempt to pull out of Nigeria before and after independence. The Yorubas were originally part of the Pan Africanist National Council for Nigerian Citizens (NCNC) movement until Chief Obafemi Awolowo and his Action Group came in to push for strong regions to enable them control the destiny of the Yorubas within the Nigerian federation. The Igbos, with Dr. Nnamdi Azikiwe as the undisputed political torchbearer, stood behind the NCNC’s Pan Africanism, which saw all Africans and Blacks as people bound by one destiny. Zik and his Igbo followers stood for one Nigeria, knowing full well that with their large population and geographical disadvantage (small landmass without direct access to the sea) they needed the larger national canvas to thrive. Zik made a lot of what some people called “expensive compromises” for one united Nigeria because of this.

Renewed agitation for Biafra(2) There was nothing like Biafra in the socio-political cosmology of the Igbo people before January 15th 1966 when the so-called “Igbo-led coup” dethroned the North-controlled federal government in a bloody coup. If that historic event had not taken place there never would have been Biafra. Biafra was an emergency “refugee camp” that Igbos adopted in a gallant effort to protect themselves against a Northcontrolled army that was in a quest to avenge the killing of their leaders during the January 15th coup. The authenticity of Zik’s vision of strategic Igbo interest is proved by the fact that 45 years after the civil war, there is probably more Igbo wealth outside Igboland than within. They generate their wealth more from outside than within Igboland. Igbos are like the Jews: impulsive Diaspora people. Igbos should be at the forefront of the postulation

The truth of the matter is that Nigeria is not a zoo. I believe in what my late sister, Prof. Dora Akunyili said about Nigeria: “good people, great nation”. Nigeria is one of the most blessed countries in the world, and there is no Nigeria without the Igbos

that Nigeria is an indissoluble nation. There is no bloodless route to secession from Nigeria for anyone, at least for now. If that was possible, Boko Haram would have swept away the North since it is the same Sharia that Ahmed Sani Yerima triggered off across the North in 2000 that Boko Haram is fighting for. Igbos should be proud of their role in routing Boko Haram. When the National Democratic Coalition (NADECO) was fighting for the actualisation of June 12 and established pirate Radio Kudirat, secession was one of the options on the cards. But the idea was later dropped because they knew the inevitable consequence of mounting an armed struggle to pull out. The Niger Delta militants only needed a little persuasion by President Umaru Yar’ Adua and they wisely surrendered their arms in exchange for the Amnesty package. If tragically, the Biafra push comes to shove, the Minorities of the South-South are unlikely to enter the trenches with the Igbos. They are not even part of Nnamdi Kanu’s protests. Those maps of Biafra that these agitators are flaunting will shrink into South East within a jiffy. Igbos should never again be part of any anger-driven separatist caper such as the Biafra episode of 1967 – 1970. Even if, miraculously, the rest of Nigeria decides to grant Biafra independence, the new nation will be surrounded by hostile neighbours because of the filthy propaganda that Nnamdi Kanu and his Radio Biafra have been spewing these past months. You cannot call people such vile names and expect them to be magnanimous towards your abandoned property. Billions of Dollars of Igbo sweat in Lagos, Abuja and other parts of the country will be confiscated because they will no longer have the citizenship rights which the Constitution of the Federal Republic of Nigeria confers on them. Igbos would

be subjects of ridicule if they returned to any part of Nigeria after denigrating it as a “zoo”. The truth of the matter is that Nigeria is not a zoo. I believe in what my late sister, Prof. Dora Akunyili said about Nigeria: “good people, great nation”. Nigeria is one of the most blessed countries in the world, and there is no Nigeria without the Igbos. Igbos have no problems with Yorubas, Hausas, Fulanis, Ijaws, Edos, Nupe and others. These are our brothers, friends, neighbours inlaws, business partners, customers, countrymen and women. We live among them as they live among us; we are interdependent. That is what gives the Igbo man his wealth and his success. That must never be given up. Nigeria, however, is possessed by bad leaders. The bad leadership that caused the coup which led to the civil war also brought about the hanging of Ken SaroWiwa and other Ogoni leaders twenty one years ago. It annulled the June 12 election won by Chief Moshood Abiola, levelled Odi and Zaki-Biam, triggered off the Niger Delta militancy and the fight for resource control and sparked off the Boko Haram terror campaign. It is responsible for making the North the poorest region in Nigeria despite its dominance of government since independence. It made Nigeria a poor and corrupt nation in spite of its bounteous human and natural resource bases. It was the monster that the Nzeogwu coup tried to slay but miscarried. It is a monster that breeds injustice, gives the commonwealth of Nigeria into the hands of a few kinsmen and sees the rest of the citizenry outside the “chosen group” as colonial subjects. That is the monster facing all of us in Nigeria. And that is the monster all the youth in Nigeria, including the Igbo youth, should rise against. Seceding from Nigeria is like attempting to run away from your shadow – you can’t. Igbos should continue to engage the political process as a means of achieving their goals in Nigeria. A lot was achieved in the past 20 years in repairing the Igbo political platform. The outcome of the elections in 2011 and 2015 went a long way in restoring the political cohesion of the Igbos and their Minority neighbours. That was a giant stride towards an eventual Igbo presidency and the burial of the ghost of the civil war. No country’s boundary was drawn by God. Who knows, one day, Biafra might walk in through the door without anyone needing to shed blood. But for now, as an Igbo man, I am sticking with Nigeria, the country of my birth.

OPINION Remembering Ken Saro-Wiwa By Banji Ojewale We are prepared to fight to the last cup of blood…/The Ogoni people are determined: everyman, woman/And child will die before Nigerians will steal their /Oil anymore - Ken Saro-Wiwa (1941-1945)

WENTY years ago on November 10, 1995, more than two years after he made this grim prediction, Ken Saro-Wiwa, renowned writer, TV producer, newspaper columnist and irrepressible minority and environment rights campaigner did indeed die. But not a natural death. He was executed along with eight others by a Nigerian state in the grip of military dictator Sani Abacha who felt he had run out of patience with the man that pummeled Nigeria for her tragic ecological record in the Niger Delta notably, Ogoni land. Ken battled the reckless degradation of Ogoni as no one else did. For years before he was arrested and subjected to a kangaroo trial that ended with his execution, SaroWiwa stood on the tripod of intellectual discourse, writing and peaceful protests to lash out at the conspiracy of government and the oil companies that despoiled his people. He argued that this infernal bond between an “irresponsible” government and “indifferent” oil companies resulting in death-dealing blows on his kinsmen was unacceptable. Big money came from the frenetic oil exploration (exploitation). But Ogoni had C M Y K

nothing to show for being the bird that produced the golden eggs. Instead Ogoni had pain. Saro-Wiwa lamented that these arose from the fact that in a so-called federal set up the rights of the minority were appropriated by the state and added to the rights of the majority ethnic groups. So quite early in his life, Saro-Wiwa decided to fight the system that encouraged this arrangement. He studied the writings of the great Chief Obafemi Awolowo, for whom he had a god-like reverence. Awo’s philosophy on how to handle the minority question-detailed in three of the major books he wrote between the 50s and 60s-warned against a contraption justifying or allowing for the economic and political suppression of the small groups by the ethnic ones. The system must accommodate the minorities as equal partners enjoying the same rights as the majors; they must have autonomy and be allowed control of their resources and their environment in the same way the majority was allowed. He predicted Ken Sarocalamitous outcome if the minorities were not so Wiwa began to permitted to be. The collapse prepare for the of Yugoslavia and USSR crusade of proved Awolowo right. Now Saro-Wiwa looked at liberating Ogoni and concluded that its Ogoni from the minority status (they were hands of the 500,000 in 1993) and the country’s dim view of such a state and the oil group were responsible for its companies

suffering. The system must be displaced to give the Ogoni a better deal. The problem had nothing to do with the size of Ogoni. The culprit was the system. But how would one man and a defenceless half a million win a physical war against a country of 80million with a well kitted military force headed by a draconian military ruler? Secession was out of the question. It would be suicidal, according to Saro-Wiwa. Rebellion of the type Isaac Adaka Boro, another Niger Delta son, tried was also ruled out. So what could Saro-Wiwa do? Intellectual agitation and peaceful activism won the day. This is what he told a journalist: “My effort is very intellectual. It is backed by theories, thoughts and ideas which will in fact matter to the rest of Africa in the course of time.” Ken Saro-Wiwa began to prepare for the crusade of liberating Ogoni from the hands of the state and the oil companies. His sojourn in government as Regional Commissioner for Education in the early 70s was a disaster as he was dismissed in 1973 because of his support for Ogoni autonomy. He had also been a teaching assistant at the University of Lagos and civilian administrator of Bonny, a port city, after being a strong supporter of the federal forces during the Civil War. He didn’t make sufficient money from his salaries to launch him into a long-haul battle against the system that oppressed his people. So from 1974, he went into business, buying and selling. “By 1984,” he said, “I felt I had earned enough money for *Mr. Ojewale, a commentator on national issues, wrote from Lagos.

NOVEMBER 16, 2015

BY JONAH NWOKPOKU

igeria’s declining economic fortunes has begun to threaten the strong growth being recorded by the nascent electronic business sector, which has become one of the major drivers of the economy in the last three years, Vanguard investigation has revealed. Five major operators cutting across retail, hotel booking and classifieds who spoke to Financial Vanguard, all reported about 25 to 30 per cent reduction in their websites’ traffic over the last six months. Financial Vanguard investigation has also revealed that the current economic reality has also compelled some operators to downsize their workforce as shown by the recent staff layoff by two major operators, iRokoTV and Jumia Nigeria. iRoko, it was gathered, last month fired its Vice President of distribution, Lead of Partnerships, Lead of Offline, Lead of YouTube, its CTO and its engineering lead, the telesales team and content operations. Technology news platfor m, Techmoran had reported that hundreds of jobs were cut by the Nollywood content provider quietly as the firm strategized to move into profitability, cut down its operational costs and shift base to London. In a similar move, Nigeria’s online retailer, Jumia on October 16 sacked over 300 of its staff in a bid to cut operational costs. The management of Jumia was quoted by one of the affected staff as saying that “things have become rough for the company because the economy is no longer favourable to them.” The management had said “there was need for the company to reduce operational costs because the business model which Jumia operates needs readjusting.” It was also gathered that part of cost cutting measures by the online retailer included some retained staff taking a salary cut of at least 20 per cent. Investigations showed that over all; an estimated 500 jobs have been lost in the sector over the last three months. The operators who spoke to Vanguard attributed the continued decline in growth to decline in disposable income and several other factors including the

Economic downturn hits growth of e-commerce E-commerce website traffic in recession Over 500 jobs lost in 3 months Growth remains resilient – Operators

COMMISSIONING - From left: Regional Business Executive, Commercial Banking, North Central, Sterling Bank Plc, Mr. Mahmud Abdulkarim; Immediate past Vice-Chancellor, Benue State University, Prof. Charity Angya; Benue State Commissioner, Industry, Trade and Investment, Dr. Simon Tersoo Kpelai, and Vice-Chancellor, Benue State University, Prof. Msugh Kembe at the commissioning of Access Control System and co-branded cards for students of Benue State University by Sterling Bank Plc. devaluation of the Naira and lack of economic policy direction of the new government, six months after it was inaugurated. The impact however varies based on the sector which an ecommerce firm operates in. Immediate past Managing Director of Nigeria's online real estate marketplace, Lamudi.com, Obi

Ejimofo told Financial Vanguard that the economic impact differs from sector to sector. He noted that while disposable income continues to play a significant role on the fortunes of ecommerce, the real estate sector has suffered significant decline since after the elections and upon further devaluation of the Naira.

He however noted that “the decline in online visits and demand for real estate were mostly recorded in high value end of the market while the low to middle class rental market continues to show strong growth.” Investigations have also shown that

Continues on page 22

22 — Vanguard, MONDAY, NOVEMBER 16, 2015

Cover

Excerpts from Peter Osalor ’s Book:

Women Empowerment & Entrepreneurial Revolution: The solution for a prosperous society, poverty eradication and wealth creation (1)

W BRIEFING - From left:Acting chairman, Dreamworld Africana,Amusement & Theme Park, Lekki; Mr. Wale Mesioye; CEO,Bufferzone Ltd, Mr. Akin Fadeyi and CEO,Dreamworld Africana Theme park, Mr. Jude Atoh at the Dreamworld Theme Park Lekki media briefing in Lagos.

Economic downturn his growth of ecommerce Continued from page 21 the online vehicle marketplace has also seen some traffic decline resulting from the general bad economic tone and the Federal Government’s increase in tariff for imported vehicles. Growth remains resilient But inspite of these trends,som operators who spoke to vanguard maintians that growth in the sector will improve as soon as the state of the general economy begins to improve. Osamede Evbakhavbokun, who is the Director of online marketplace, Gidimall.com, said inspite of the current realities, he does not think that it is a proof of any threat to the growth of ecommerce. He said: “What is happening, in my opinion, does not mean that the growth seen in e-commerce is dwindling. What is key to note however, is that the volume of sales today is commensurate to the level of disposable income in the hands of our consumers. We must understand that the reason for this growth is that consumers see great value using ecommerce as a channel for shopping. It is also important to note that as disposable income goes up, then sales will go up. If it goes down, then sales will come down as well. This means that companies have to have proper cash flow forecasting done and optimize their costs in line with their projections and market realities.” C M Y K

He however added: “The Central Bank Nigeria has forecasted a possible recession in the economy in 2016 and if that happens, rightly so, there will be massive down-sizing so that companies can stay alive to offer same value to consumers. In any case, over bloated companies will begin to look for other possible sources of generating revenue or better optimize existing staff strengths for optimal results and if results are not coming the way they expect, they will have to down-size.” In the same vein, Chief Executive Officer of Hotels.ng, Mark Essien said the hotels and travels sector continues to witness strong growth despite what is happening with the general economy. He said: "The space for online travel agencies is

The CBN has forecasted a possible recession in the economy in 2016 and if that happens, rightly so, there will be massive downsizing so that companies can stay alive to offer same value to consumers

markedly different compared to that for other e-commerce space. We have an upward projection, and even if we experience a subdued spurt, we have never flat-lined. Every day, the work we do ensures that fresh people know about our service offering, which means that we meet new customers every day. We are adding new customers to our already established returning customer base.” Why companies are downsizing Essien said: “Technology in Nigeria is in its nascent stage and what some of these companies are experiencing are characteristics of this stage of their growth. A lot of work has to go into actually expanding and re-orienting the market and during this growth phase, some businesses would experience a break-even flat-line that will go upwards as soon as the legacy systems have been firmly established. In that short lull phase, a lot of restructuring will happen, and when companies move their weight around, a few people tend to fall off.” He added: “As a counterintuitive as this would seem, this is an indication of growth in the sector. This year, market share expanded incrementally and so did competition – two indicators of the increasing value of

Continues on page 23

omen own only one percent of the wealth of the world, receive ten percent share in the overall income of the world, and hold only fourteen percent of the leadership posts and offices in the public and private sectors. Apart from this, women own only one percent of the overall world’s land, despite of the fact they produce almost half of the overall world’s food. Statistics of women in the world reveals: Women constitute almost 50% of the world’s population. Women have not achieved equality with men in any country. Of the world’s 1.3 billion poor people, about 70% are women. They have lower literacy rates; over 640 million of the women in the world are illiterates. Amongst the world’s children, 121 million are not in school, 60% of them are girls. Women and girls are more vulnerable to exploitation. Women’s rights and access to land, credit and education are limited; not only due to legal discrimination, but due to subtle barriers such as their workload, mobility and low bargaining positions in the household and community prevent them from taking advantage of their legal rights. Women’s status/employment is outside of the formal or paid sector. 90% of the world female labour is under the umbrella of housewives and excluded from the formal definition of economic activity. Women work more unpaid hours than men. The paid ones are paid 17% lower than men. Women perform 66% of the world’s work, produce 50% of the food, but earn 10% of the income and own 1% of the property. In some regions, women provide 70% of agricultural labour produce more than 90% of the food and yet are nowhere represented in budget deliberations. Women occupy only 24% of senior management positions globally, 34% of privately held businesses. In an attempt to measure gender disparity or the gap between males and females, the World Economic Forum conducted a study of 58 countries. They measured gender disparity in 5 areas: economic participation, economic opportunity, political empowerment, educational attainment, and health and well-being. Depicted in graphs, gender disparity is widest in developing regions but closer in developed ones. Different regions and countries reflect different overall performance on index of gender gap calculated by the United Nations. There are different policies and practices in different countries and hence have different impact on the gender gap and women economic marginalization.

Economic Participation:

The economic participation of women i.e. the number of women in the workforce of the country is an important element in order to reduce the gender gap and women’s economic marginalization. Not only this, it helps in increasing the household income and in turn promoting the process of the economic growth and development. Economic participation not only covers the number of women in the labour force but is also concerned about the fact that women are paid the same pay and remuneration as men on the same position. Different regions and countries have different strategies and policies which in turn either encourage or discourage the economic participation of women.

Economic Opportunity:

The index of economic opportunity measures the quality of the economic involvement and jobs provided to women in different countries and regions. This means that it is not enough to only provide jobs to females but it should also be ensured that the jobs and employment provided to women are not restricted to the ones which are poorly paid. It is important to provide proper economic opportunities to women who in turn will reduce the gender gap and women’s economic marginalization.

Political Empowerment:

In order to reduce the gender gap among males and females and to eradicate the concept of women economic marginalization it is essential to provide women with political empowerment. By providing political empowerment we mean that giving women equal representation in the decision making process and structures either formal or informal, and they are able to contribute in the process of policies and strategies formulation. There are very few females who have been able to reach the different even low levels of government. Hence the important decisions related to resource allocation and other national and local policies are formulated without the participation of females who are an important constituent of the economy.

Vanguard, MONDAY, NOVEMBER 16, 2015 — 23

INCE the Nigerian economy emerged as the largest economy in Africa as a result of the rebasing exercise, the attempt to frustrate the nation's efforts to move forward has been orchestrated by foreign investors, their media and now the European Union and the United States of America. The new move arose when the CBN out of the desire to protect the nation’s foreign reserve restricted some 41 items that can be produced locally from access to official foreign exchange. These items are not banned but can only now be imported with the importer's own sourced foreign exchange. As soon as the measures were announced, threats and protests from foreign investors took over the airwaves. Many of the investors are pressing for further devaluation of the Naira instead of the restriction on access to foreign exchange by the 41 items. It is curious that while at the the 2015 IMF/World Bank Group Annual Meetings, these multilateral financial institutions advised countries to take measures to deal with the peculiar economic situation confronting them, many of these countries which agreed to the suggestion are now seeing the action taken by Nigeria as anti-trade to the point of going to the World Trade Organisation to complain. Truth be told, these complainants want Nigeria to perpetually import products from them. When Nigerians go to their countries to import junk goods to help clean up their environment, they do not complain. When Nigerians import their goods and keep their factories running and their youths in employment at the expense of Nigerians, they do not complain. When Nigeria imports petroleum products from their countries while being a major exporter of crude, they do not complain. What Nigerians must know is that these

International conspiracy to ruin Nigerian economy foreign investors want to come in and buy Nigeria's assets at give-away prices and then make fortunes out of them later. Last week, the United States and the European Union joined the fray to raise concerns at the World Trade Organisation about the Central Bank's curbs on access to foreign currency, a WTO official said. The report said “The bank, seeking to conserve its dollar reserves, said in June that importers could no longer get hard currency from the inter-bank market to buy 41 items including rice, cement, private jets, steel products, plastics and rubber, soap, cosmetics, furniture and Indian incense. “At least, nine WTO members raised concerns about the trade-related impact of the rules at a meeting of the WTO’s Council for Trade in Goods, the WTO official said. The US representative at the meeting expressed “strong concern” about the effect on US exports such as agricultural goods, plastics, aircraft and aircraft parts and metal and metal products, adding that the affected exports were worth $500 million in 2013 and 2014, the official said. The US trade official also said the Central Bank had justified its action by saying it was “in order to encourage local production of these items”, which revealed its protectionist motivation. We are unaware of any effort by Nigeria to justify the measure at the WTO,” the WTO official

quoted the US representative as saying to the meeting. The EU official at the meeting said Nigeria also seemed not to have sought approval from the International Monetary Fund for its foreign exchange curbs, and said they were having a significant impact on trade. Other countries that had concerns about the curbs were Thailand, which was worried about agricultural shipments, Norway and Chile, which were concerned about fish, and Switzerland, Uruguay, Iceland and Malaysia, which were worried about the “systemic” impact”. Looking at the countries that raised issues at the WTO, they were doing so to preserve their national economy. For instance, the Norwegian dried fish industry is close to bankruptcy after the CBN

Norwegian dried fish industry is close to bankruptcy after CBN restriction destroyed their biggest market which was Nigeria

restriction destroyed their biggest market which was Nigeria. Nigerians have a huge appetite for ‘okporoko’, as unsalted, air-dried cod is known locally, using it as the key flavouring in the soups which accompany grain staples, the Norwegian Broadcasting Corporation NRK, reported recently. The report said: “In a normal year, Nigeria is Norway’s biggest single market for stockfish, with the trade, mainly in dried fish heads and other off-cuts, worth some 486 million Norwegian kroner ($58m) a year. “But since Central Bank of Nigeria in June restricted importers' access to foreignexchange market for some goods, including stockfish, business has ground to a halt. “Nigeria is our main market. Over half of our turnover is stockfish and if the business stops for a few months, our company will be rapidly in the red,” Erling Falch from Saga Fisk in the Lofoten islands told NRK. He has already laid off almost half of the company’s 50 employees to cut costs until business returns to normal. He said that Nigeria was the main country worldwide with a taste for dried fish heads. Falch said that his company normally exported as much as 100 tonnes of stockfish to Nigeria every week in the peak season. Instead, he now has some 500 tonnes of unsold stock in his warehouse, which he fears may soon become unsellable.

It is no surprise that Norway and others being affected raised the issues at the WTO. It is equally understandable why Thailand joined the fray of those pushing that the CBN reverse its decision on the 41 items restriction. Bulk of the rice imported into Nigeria is from Thailand. The fact that rice is one of the items in the list of items with restricted access to foreign exchange poses a significant threat to its economy. Unfortunately, rice imported from these countries are poison in the sense that they have spent close to eight years in store before being exported to Nigeria, such rice being in store for that long have no nutritional value. These countries are more concerned about the negative effect of the policy on their economies than the possible positive impact of the restriction on the Nigerian economy. Nigeria has an army of unemployed youths. Through importation of these items, local industries have folded up and many employees sent to the labour market. The economy is shrinking and governments cannot pay workers. How long will Nigeria continue down this line? This is one time that Nigerians should rise in one voice and say to hell with these self-seeking countries that are seeking to ruin our economy. This is the time to be patriotic. Nigeria is our only country. We are the ones to develop it. We must stand behind the CBN and encourage it to place more items that can be produced locally on the restriction list.

Cover

Economic downturn his growth of e-commerce Continued from page 22 this sector. As a result of this more robust setup, companies that have been experiencing an unbridled growth phase are shifting into a leaner approach.” Also speaking, immediate past Managing Director, Jovago Nigeria, Marek Zmyslowski said: “What happened to the general economy had to affect the ecommerce sector. First we

had some slow down before the election because everyone was waiting to see what would happen and once the election happened, everyone was waiting for what the new president would do. This is taking some time and there are still changes and decisions that people are waiting for and I think this affects the economy as a whole.” He however pointed out that the prevailing economic

condition affecting the entire economy does not mean that the opportunity is diminishing. Instead, he said, those venturing into ecommerce should understand that it requires long term investment and that even though harsh economic conditions may affect it, it will continue to show strong growth. According to him, “I would not say that what is

happening makes e-commerce shrink because e-commerce will still grow even if the economy is shrinking. I would say that in the long term, it won’t affect because it is not a short term business. People do not come to do business in Nigeria and hope to cash out in six months. This is not possible. If you are doing business in Nigeria, you are only doing it in the long term, especially in online sector.

People build companies in online sector because they see the huge potential and although the market is very small but they imagine where the market will be once they educate the market, and there is electricity and internet becomes cheaper.” On the downsizing by some operators, he said: “When a start-up announces a layoff, it’s a different situation compared to when a coal mine that has been in the market for twenty years."

24— Vanguard, MONDAY, NOVEMBER 16, 2015

Business & Economy

Crashing commodity prices has affected most African countries-LCCI BY NAOMI UZOR & NWAJIOBI OBINNA

he Lagos Chamber of Commerce and Industry, LCCI, yesterday, noted that crashing commodities prices in international markets has affected most African countries including Nigeria and Ghana. Speaking at the Ghana special day at the ongoing 2015 Lagos International Trade Fair, the President of LCCI, Alhaji Remi Bello, said in Nigeria, we are focusing on diversifying our economy to reposition for sustainable development, noting that, the Ghanaian economy has witnessed impressive growth following the recent exploration and production of oil and gas in commercial and export quantity. “Statistics from Ghana statistical services shows a revised GDP growth forecast at 4.1 per cent for 2015. I can therefore confirm that Nigeria and Ghana have lots of lessons to learn from each other.

BoI shortlists 1000business proposals under GEF scheme By Franklin Alli

he Bank of Industry, said it has concluded the evaluation of entries received from 3,100 members of the National Youth Service Corps in respect of the online Business Ideas Competition organized by the Bank under the Graduate Entrepreneurship Fund (GEF) scheme, and shortlisted 1, 000 of the applicants for capacity building. In a statement, the bank said that on the basis of the highest scores recorded during the evaluation, the 1,000 Corps members whose ideas have been shortlisted under the scheme will participate in a three-day capacity building programme facilitated by BOI. The bank said the event is scheduled for 18th to 20th November, 2015, adding that medium to long-term loans at single digit interest rates will be provided by BOI. C M Y K

‘CAC'll help create enabling environment for businesses’

he Corporate Affairs Commission (CAC) has reiterated its commitment to creating enabling environment for businesses to thrive in the country. Mr Bello Mahamud, the Registrar-General of CAC, pledged the Commission’s commitment to promoting businesses in the country through seamless and prompt registration of

companies and postincorporation filings. Mahamud said this in Lagos at a stakeholders sensitisation workshop of the Commission in conjunction with the Nigerian Bar Association, Section on Business Law (NBA-SBL). He said that CAC embarked on reforms to upgrade the ease of doing business in Nigeria through the

introduction of its online registration portal. “With this new software, our customers do not have to physically visit the commission any longer as you could apply for our services online anytime and day of the week.” The Registrar said that prior to the advent of the online portal, business registration was done manually which inhibited the

TRADE FAIR - From left: Council member, Lagos Chamber of Commerce and Industry (LCCI), Chief (Mrs) Yeye Adenike Sobajo; Chairman of occasion, Dr. Olawale Cole, former Lagos Deputy Governor, Princess Sarah Adebisi-Sosan, representative of Bank of Industry's (BOI) Managing Director, Mr. Waheed Olagunju during BOI day at the ongoing Lagos International Trade Fair at TBS, Lagos.

ease of doing business in the country. He said that with integration of the online platform, Start-to-Finish registration of companies had started in Enugu, Lagos, Kaduna, Kano, PortHarcourt and Abuja. Mahamud said that the development had saved customers the cost of travelling to the Commission’s head office at Abuja for certificates. He said that the Commission was working on the review of indiscriminate query of data and introduction of validation system because of issues of missing files in the past manual system. Mahamud said that the commission was collaborating with the Federal Inland Revenue Service (FIRS) to integrate e-stamping module into the Company Registration Portal to fasttrack registration process.

Dangote Groupto boost foreign exchange, strengthen Naira By NAOMI UZOR & NWAJIOBI OBINNA

NBTI graduates 14, celebrates Global D Entrepreneurship Week By EBELE ORAKPO

he National Board for Technology Incubation (NBTI) under the Federal Ministry of Science and Technology, will today, through Friday, celebrate its annual Global Entrepreneurship Week (GEW) and graduation ceremony of 14 incubatees. Speaking at a Press briefing held in TIC Lagos Centre, Agege, the Centre's Manager, Dr (Mrs) Julie Momah said the Global Entrepreneurship Week, world’s largest celebration of innovators and job creators, comes up every November in over 150 nations. “GEW inspires people everywhere through local, national and global activities designed to help them explore their potential as selfstarters and innovators. These activities, from largescale competitions and events, to intimate networking gatherings, connect participants to potential collaborators, mentors and even investors - introducing them

to new possibilities and exciting opportunities. “We are using this year’s event to celebrate Nigerians and their entrepreneurial spirit and we will be marking it by graduating 14 entrepreneurs who have been under incubation with Technology Incubation programme (TIP),” she said. Outlining the programmes for this year’s GEW with the theme: SME as a Vehicle for National Building, Momah who is also the South-West Zonal Coordinator, Technology Incubation Centres in Nigeria said that on Monday by 7:30am, there will be a Road walk from TIC Lagos to Governor’s office, Alausa in partnership with sister agencies. “There will also be an international exhibition and trade fair to showcase best products from the 33 incubation centres across the country. Entrepreneurs from across the various trade organisations like NASSI, NASME, LCCI etc, will also participate. The opening ceremony comes up on Tuesday featuring a dialogue with sub-top-

ic: Technology Incubation Programme: A vehicle for wealth and job creation. The graduation ceremony will follow after. On Wednesday, there will be plenary sessions dealing with topics such as: Financing for SMEs – a case study of Technology Incubation Progranmme; Patenting, Trademark and Standards: X-raying the contributions of NAFDAC, SON etc. Also there will be the “launching of Innovadis Supermarket, a superstore that will be selling products of entrepreneurs from TIP across Nigeria and inauguration of loan scheme. On Thursday, there will be plenary session - Business/ Product competition pitch to showcase best of products of technology and innovation from students of technical colleges across Lagos State and the NYSC. This will continue on Friday. For the exhibition, Momah said exhibitors are to pay N1,000 per day for space, a table and a chair.

angote Group has , said the major aim of its investments is to boost foreign exchange earnings in the country and help strengthen the naira. Disclosing this at the Dangote special day at the ongoing Lagos International Trade Fair, LITF, the Group Executive Director, Dangote, Mansur Ahmed, said, the Dangote Conglomerate, with diversified projects is aimed at boosting the value of the naira. “This trade fair is about value addition and we will continuously increase value chain in Nigeria. In every sector we operate, our goal is to add value. In cement, we are already manufacturing and exporting in several countries. We will keep investing, especially in Nigeria, so as to boost the economy” he stated. The Manager, Dangote sugar, Ms Jane Ugbechi, said the sugar refinery, which is the 2nd largest in the world, will soon create over one thousand jobs in Nigeria as it plans to expand its sugarcane farms.

Vanguard, MONDAY, NOVEMBER 16, 2015 — 25

Banking & Finance STORIES BY BABAJIDE KOMOLAFE

he one per cent transaction fee charged on all transactions through the Federal Government’s Treasury Single Account is shared among Remita, banks, the Central Bank of Nigeria (CBN) and other payment operators involved. Recall that on Wednesday the Senate had ordered its joint Committee on Finance, Banking and Other Financial Institutions and Public Accounts to probe the allegation that the ecollection agent, Remita, had been paid 25 billion, being the one per cent commission it charged for the transfer of N2.5 trillion of Federal Government funds to the TSA. Though Remita is the electronic payment platform adopted for the TSA, banks, and other payment platforms are all part of the transaction value chain. These include; banks, debit or credit card processors, POS terminal providers, mobile wallet platform owners, switching platform owners, and payment gateway technology providers. Vanguard investigations revealed that while there is indeed one per cent transaction fee charged on all inflows and outflows through the TSA, the money is shared among the payment electronic platforms, banks, CBN and SystemSpecs, which owns Remita. Transaction fees is a common feature of

FCMB empowers youths with Dare2Dream project

BRIEFING - From left: Mavin Record Artiste, D’prince, Executive Director, Personal Banking Division Access Bank, Victor Etuokwu, Mavin Record Artiste Aphrodija, and CEO, Mavin Records, Don Jazzy at the Access Mavin concert Press Briefing on Wednesday November 11, 2015 at the Intercontinental Hotel in Lagos.

TSA: 1% transaction charges is revenue for Remita, CBN, banks electronic payment transactions. An example is the N65 fee charged by banks when customers of other banks use their ATM. Also, there is N100 transaction fee charged on all money transfers transactions in the banking industry including payment of bills such as DSTV subscriptions, flight tickets etc.

The one percent transaction fee charged for TSA transaction was based on agreement between the CBN, payment platforms and the Federal Government. This is reflected in a CBN circular to all banks dated December 17th, 2013, which stated, “A fee of 1% of funds collected is payable. This includes solution provider and participating bank fees”.

ABCON raises alarm over activities of Travelex in BDC subsector

ssociation of Bureaux De Chang Operators of Nigeria (ABCON) has raised alarm over the activities of Travelex in the bureaux de change industry Meanwhile the Association has highlighted the challenges of using the Bank Verification Number (BVN) as criterion for foreign exchange transactions. Addressing a press conference in Lagos on Friday, ABCON Acting President, Alhaji Aminu Gwadabe said that the intention of Travelex is to monopolise the BDC business in Nigeria. He said, “We would like to bring to the attention of the public and the government to the antics of Travelex Worlwide in Nigeria. Though licensed as a wholesale supplier and importer of

forex into the country, the intention of Travelex is to take over the retail segment of the foreign exchange market, where BDCs operate. And in order to achieve this nefarious ambition, the company is trying to portray BDC operators as anti-CBN, and the ones behind the depreciation of the naira in the parallel market. “We note that the company recently held a press conference, which was broadcasted on Channels TV on Wednesday November 11th, 2015, where its officials claim that the company’s selling exchange rate is lower than that of other BDCs. The utterances of its officials at the press conference were also deliberately crafted to create the impression that other BDCs are against the use of BVN for forex transactions,

while the company is in support of the policy. “The press conference and the utterances of Travelex officials are part of the company’s grand plans to take over and monopolise the BDC business in Nigeria. And this is not the first attempt by Travelex in this regard. “We are calling on the federal government to be alert to the activities and intentions of Travelex in the BDC market. Travelex is a foreign company, with most of its profits repatriated abroad, and it wants to dominate an industry that provides jobs for millions of Nigeria, income for millions of families, and the federal government through taxes, as well as the huge commissions paid to CBN by BDCs for foreign exchange sales.”

Further investigations also reveal that the fee sharing arrangement under the TSA states, “For E-payment: A tariff of N100 per million naira transaction, with 40 percent to CBN, and 60 percent to SystemSpecs.” “For Collections: A tariff of 1% of funds collected shall be charged for the government revenue collections, to be shared as follows: Platform Owner/SystemSpecs-50 percent; Collecting Agents/ Participating banks-40 percent; CBN-10 percent. Vanguard also gathered that the 1% TSA transaction fee is one of the lowest in the industr y. Also, when compared with the pre-TSA regime where government was earning 0% interest on its funds outside the CBN and paying about 15% on government borrowings in terms of bonds, the 1% TSA fee is a better bargain for the Federal Government. Furthermore, the 1% charge on collections is in huge contrast to what obtained before TSA where various MDAs independently entered into different collection contracts with different providers of collection services with charges in some instances being over six to ten per cent in some cases. This was in addition to holding of government funds outside of government control in some instances for as long as 90 days.

s part of its youth engagement and empowerment initiatives, First City Monument Bank (FCMB) Limited is for the second consecutive year sponsoring the 2015 edition of the fashion-toentrepreneurship reality competition tagged, ‘’Dare2Dream (D2D)”. The contest, which is organised by Kinabuti, a Nigeria-based Italian fashion label, and Pulse.ng, provides an opportunity for young and aspiring women across the country, especially students, who desire to take-up career in modelling and fashion, to showcase their skills and live their dreams. The initiative is also designed to discover, empower and encourage them to realise their aspirations through the sponsorship platform provided by the FCMB brand, while raising the profile of the Nigerian fashion industry.

F En Igw wif moth

FSDH Merchant Bank gets ISO certification BY MICHAEL EBOH

SDH Merchant Bank Limited has been awarded the ISO 27001:2013 certification for its efforts at prioritizing information security and for the deployment of high-level information technology infrastructure. According to a statement by the company, FSDH is the first Merchant Bank to achieve this feat which was attained through the hard work and dedication of its people, who are seasoned professionals in the banking Industry. “What does this certification mean? For FSDH Merchant Bank, this ISO 27001 Certification demonstrates that FSDH has placed information security as priority while reassuring stakeholders that a best practice system is in place and compliance with CBN banking industry IT Standards,” the company said. The company had recently stated that it is already beginning to see the benefits of investment made months after it secured the merchant banking license, especially in the areas of restructuring, new recruitment, marketing efforts and diversification.

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26 — Vanguard, MONDAY, NOVEMBER 16, 2015

Banking & Finance

ACCA marks 10yrs anniversary in Nigeria

FG’s bail-out to states boosts loan repayment in banks — CBN

he Association of Chartered Certified Accountants is set to mark its ten years of operating in Nigeria. According to a statement by the ACCA Nigeria, “Helen Brand OBE, the Chief Executive of ACCA will lead a delegation of senior ACCA staff to celebrate the 10 year anniversary of ACCA’s operations in Nigeria. The celebratory events will celebrate the last 10 years, and will also focus on a future looking theme, in line with ACCA’s strapline of Think Ahead.” Commenting on the anniversary, Head of ACCA Nigeria, Mrs. Toyin Ademola, said, “I was appointed in 2006, and it’s been a decade of which I am very proud. The ACCA Nigeria team could not have done this alone.

Skye Bank, travel agencies enter deal on travel financing BY JONAH NWOKPOKU

kye bank Plc has entered into partnership with some travel agencies to ease the funding challenges associated with vacation and other forms of travel in Nigeria. Some of the travel agencies include: Dees Travel and tours Limited, online travel booking platform, Ajala.ng, Pasture Travels and Tours Limited and Tour Brokers International. The partnership will see Skye bank providing 80 per cent of the travel cost while the intending traveller will provide 20 per cent of the total travel cost at a 22 per cent interest rate. The deal also requires the customer to repay the loan over a maximum tenor of 12 months. Explaining the rationale for the deal at the unveiling of the partnership in Lagos last week, Skye Bank’s Head of Retail Banking Group, Nkolika Okoli said because most people who travel in Nigeria are salary earners and small business owners in the middle income segment, they are wont to save up for their travel over a long period of time and so end up buying their tickets two or three weeks to the date of travel. C M Y K

PRESENTATION: From left: Mrs. Oluwatoyin David of Delloitte; Mr. Umezinwa Philip Nonso, winner in the on-going New Sterling Bank Cash Reward Scheme and Mr. Grama Narasimhan, Executive Director, Retail Banking, Sterling Bank Plc at the presentation of N1 million prize money to Nonso in Lagos

BY BABAJIDE KOMOLAFE

he Central Bank of Nigeria (CBN) said that the Federal Government's bail-out funds to states have boosted loan repayment in the banking industry. This was one of the highlights of the apex bank’s Credit Conditions Survey for the fourth quarter of 2015.

The survey revealed reduction in loan default across the industry courtesy of the bail-out funds to state governments. The CBN stated, “Secured loan performance, as measured by default rates improved in the review quarter. This improvement could be adduced to the payment of workers’ outstanding salaries in some states of the Federation as a result of the salary bailout.

Similarly, lenders expect improved performance in the next quarter as default rates were expected to fall further. “Unsecured loan performance on credit card loans and overdraft/personal loans to households, as measured by default rates improved in Q4 2015 and was expected to improve further in the next quarter. “Corporate loan performance was better as default rates and losses given

Diamond Bank empowers over 16,000 SMEs to boost entrepreneurship BY JONAH NWOKPOKU

iamond Bank said it has empowered over 16, 000 small and medium enterprises in Nigeria through its Diamond Express seminar over the past four years. Head, MSME and Agency banking, Diamond Bank, Chidimma Lawanson, disclosed this last week while addressing journalists at the sideline of the 62 nd Diamond Express Seminar for SMEs held in Lagos. She said: “Physically, we have impacted more than 16, 000 small businesses across the country through this nd seminar. This is the 62 edition and we have been

doing it since 2011. The feedback has also been tremendous. More so, we also get SME owners to go online and watch some of these seminars. And we take this across the six geopolitical zones of the country.” Speaking on theme of this edition, which is: ‘Global Best Practices In Human Resources’, she said: “We call this training one of the nonfinancial benefits and services that we give to the Micro Small and Medium Enterprises, MSME sector. It is a capacity building offering to help them grow their businesses. Today we talked about global best practices in human resource management. Many of the

MSMEs struggle with human resource issues regarding who to employ. For instance, do they have to employ their family members because they think it is cheap and at the end of the day, may cause them issues since you cannot fire them if they are not doing so well? So we brought consultants who have done well in their own businesses to teach them how to structure their own businesses better.” Also speaking, Managing Director/Publisher of Castle Lifestyle magazine, Dipo Davies in a keynote address tasked the participants to develop formal systems and processes if they must grow sustainable large businesses.

default on lending to all size businesses except to medium PNFCs fell in Q4, 2015 and was expected to fall further in Q1, 2016.” The survey also indicated readiness of banks to increase lending in response to improved economic outlook. It stated, “The availability of secured credit to households increased in Q4, 2015 and was expected to increase further in the next quarter. Changing economic outlook remained a major factor behind the increase. “Lenders reported that the availability of unsecured credit to households increased in Q4, 2015 and it was expected to increase further in Q1, 2016. Lenders reported that changing economic outlook contributed to the change in credit availability in Q4, 2015. “The overall availability of credit to the corporate sector increased in Q4 2015 and was expected to increase further in Q1, 2016. The major factors contributing to increased credit availability were changing economic outlook, changing sector specific risk, changing appetite for risk and changing liquidity conditions. “Demand for secured lending for house purchase decreased in Q4 2015, and was expected to decrease further in Q1, 2016. Despite lenders stance in loosening the credit scoring criteria in the current quarter, the proportion of loan applications approved in Q4, 2015 decreased. “Demand for unsecured credit card lending and overdraft/personal loan from households increased in the current quarter, and was expected to further increase in the next quarter. Due to the tightening in the credit scoring criteria, the proportion of approved households total loan applications decreased in the current quarter and was also expected to decrease in the next quarter. “Lenders reported increased demand for corporate credit across all firm sizes except the small businesses in Q4, 2015 and similar trend was expected to increase in the next quarter. Following the wide spread between bank rates on all firms size businesses and MPR, the proportion of loan applications approved for small businesses, medium and large PNFCs decreased in Q4, 2015.”

Vanguard, MONDAY, NOVEMBER 16, 2015 — 27

Corporate Report BY MIKE UZOR

nity Bank achieved a high rise of 147% in profit in the 2014 operations but closed third quarter operations this year with a drop of 16% yearon-year. The full year earnings outlook for the bank indicates a likely drop in gross earnings and a moderate improvement in profit despite the profit fall in the third quarter. The bank however shows an unstable pattern in earnings performance and earnings projections are therefore subject to wide variation from actual. In 2014, about 38% of its full year revenue was generated in the final quarter while a loss occurred in the final quarter as well and reduced the full year profit below the third quarter figure. A stable track record of earnings performance is yet to be established by the bank. Gross income was flat at N49.20 billion for the bank at the end of the third quarter at 2.2% growth year-on-year. The drag was interest income, which declined by 9.3% to N35.16 billion over the period. Non-interest income provided the strength for revenue performance during the review period at an increase of 150% to N14.04 billion. The contribution of non-interest income to gross earnings therefore increased from 19.5% in the third quarter of last year to 28.5% at the end of September this year. If the growth rate in the third quarter is maintained to full year, gross earnings are expected to stand in the region of N67 billion for Unity Bank at the end of 2015. This will amount to a drop of over 13% from the gross income of N77.28 billion the bank posted in 2014. The weakness in interest income appears to follow the declines in the various lines of investment assets in the current year. Revenue growth may still pick up in the last quarter. The bank reported an after tax profit of N9.31 billion at the end of the third quarter, which is a drop of about 16% yearon-year. Despite the drop, the full year outlook is promising a moderate improvement over the closing profit figure of N10.27 billion in 2014. This is in view of the fact that the bank’s full year profit last year was lower than the N11.06 billion it reported at the end of the third quarter. The weakness of the yearon-year drop in profit at the end of the third quarter this year is somewhat remedied by a likely moderate growth at full year. A cautious

PRESENTATION - From left: Lil Rhymz, Gulder Brand Ambassador, Abayomi Gbenga, winner of a brand new Hyundai Elantra via raffle draw at the ongoing Gulder Ultimate Promo; Emmanuel Agu, Marketing Manager, Gulder, 33, Life, More and stout category, and Onyeka Okoli, Senior Brand Manager Gulder, both of Nigerian Breweries Plc during the prize presentation at Nigerian Breweries Headquarters Iganmu-Lagos

Unity Bank: from high rise to a sharp drop projection of N11 billion net profit is made for Unity Bank at the end of 2015 subject however to a possible change in the growth rate in the final quarter. The bank’s earnings pattern still lacks the reasonable stability needed for dependable earnings projections.

Credit loss expenses were the main culprit for the loss of profit growth momentum in the last quarter of last year. The picture of a drastic reduction in net impairment charges in the third quarter changed suddenly at the end of the year. From only N2.18 billion provision for credit

losses in the third quarter, the figure soared to N15.28 billion at the end of the year. A repetition of the same pattern in impairment charges isn’t ruled out for the bank this year. Credit loss expense dropped by 20% year-on-year to N1.74 billion at the end of the third quarter but the full

year position is subject to an unpredictable change. Whether the current profit growth momentum is sustained or lost at full year depends largely on the direction that loan loss expenses will follow in the final quarter. The bank’s ability to convert revenue into profit has weakened this year on flat revenue and rising costs. Net profit margin is down from 23% in the same period last year to 18.9% at the end of the third quarter, which remains quite good by the banking industry standard. It is an outstanding improvement from the profit margin of 13.8% the bank recorded at the end of 2014. Two major expenditure lines account for the decline in profit margin this year. These are interest expenses and operating cost, which grew by 9.4% and 9.3% respectively at the end of the third quarter against a flat growth in gross earnings. Operating cost margin has increased from 43.3% to 46.3% over the review period and from 40.4% at the end of last year. Should loan loss provision change direction from a drop to a rise in the final quarter, the profit margin seen in the third quarter will decline further at full year and the full year profit projection will not be realised. The bank earned 79 kobo per the currently outstanding shares of 11,689 million at the end of the third quarter. The full year outlook indicates an earnings per share of 94 kobo for Unity Bank in 2015.

How branding drives global recognition in banking sector BY PRINCEWILL EKWUJURU

s the battle for the share of voice, share of mind and ultimately, share of pocket intensifies, especially in the banking sector, the need for strong branding is greater than ever before. Outstanding and consistent customer service, creative products and authoritative endorsements all add up to the brand arsenal. The Nigerian banks are daily rolling out new campaigns, new concepts, promotions, all in the battle of the mind. In the battle of the brands Guaranty Trust Bank , GTbank, had taken almost full ownership of the brand space on service promise and delivery. But GTB is raising its profile in a fresh direction now. Rather than blowing its horns, it allowed other respectable institutions to blow the horns for her, in line with the famous brand quote by Amazon founder Jeff Bezos

“Your brand is what people say about you when you’re not in the room” In quick succession, GTbank scooped five international awards by globally acclaimed institutions. Guaranty Trust Bank was named the 2015 Bank of the Year and Most Innovative Ai SRI 30 Company by leading international investment and communications group, Africa Investor (Ai), at the prestigious Ai Institutional Investment and Capital Market Awards in New York. Launched in 2007, the Ai Institutional Investment and Capital Market Awards is the only pan-African Awards designed to recognize Africa’s best performing stock exchanges, listed companies, investment banks, research teams, regulators, socially responsible companies and sovereign wealth and pension fund investors. The investment and business leadership awards aim to reward

exceptional business practices, economic achievements and investments across Africa, According to Hubert Danso, CEO of Africa investor: “We are delighted to say that this year’s winners are our most exciting yet, and are testament to the ever-improving investment climate in Africa. GTBank’s ability to continuously deliver notable success and significant progress across its businesses, despite increasing regulatory headwinds and an extremely challenging business environment has enabled it emerge double award winners in the 2015 Ai Institutional Investment and Capital Market Awards. Not long after, Guaranty Trust Bank was named the Best Banking Group of 2015, Nigeria, by the World Finance Magazine, a publication reputable for providing comprehensive coverage and analysis of the financial industry, international business and the global economy.

According to Michael McCaw, the Group Managing Director of World Finance: “The Nigerian banking industry has faced substantial headwinds in recent months. Despite this, there has been significant work carried out by financial institutions in an attempt to find solutions for growing revenue and providing customers with excellent services tailored to meet their diverse needs. One Bank that has recorded remarkable accomplishments in all of these areas, is Guaranty Trust Bank .” Following in succession, was the recognition of Gtbank for good corporate governance during the 2015 African Business Awards held in New York. Launched in 2008 by African Business magazine, the African Business Awards has become the deûnitive business awards in Africa.

28— Vanguard, MONDAY, NOVEMBER 16, 2015

Corporate Report

Will Transcorp turn around this year?

ransnational Corporation of Nigeria is yet to show the stability in earnings that befits a conglomerate. It has rather maintained a pattern of profit rise and fall that leaves its earnings outlook uncertain. Over the past five years, the company has recorded alternating rise and fall in profit performance. Will the company rise this year after the fall of last year is the caution on Transcorp in 2015. The company has actualized new investments in power, oil and gas and agriculture, which saw a 120% advance in revenue in 2014 - the strongest growth record since 2009. That isn’t creating the much needed earnings stability yet. After tax profit fell by more than onehalf in the year. This year, the company lost revenue at the end of the third quarter and profit dropped by over 28%. There is a chance that the company will end the current year with a profit rebound as well as a possibility that it might disappoint again. At the end of the third quarter of last year, Transcorp appeared to be on the way to posting the biggest profit ever in its operating history. The optimism however faded at full year when profit fell from N8.26 billion in the third quarter to N3.30 billion at the end of the year. Whether the final quarter disappointment will repeat itself this year is the question mark on Transcorp. The company closed third quarter operations with sales revenue N30.42 billion, a decline of 3.1% year-on-year. The full year outlook indicates a turnover of close to N42 billion for Transcorp in 2015. That will be a flat growth on the N41.34 billion sales revenue the company earned in 2014. Revenue growth accelerated in the past two years from 42.1% in 2013 to 119.7% in 2014 but the momentum is expected to be broken in 2015. After tax profit amounted to N5.88 billion at the end of the third quarter, a drop of 28% from the N8.26 billion the company posted in the same period last year. It is however 78% above the full year profit figure in 2014. The company’s last quarter operations last year ended in a big loss, which lowered its net profit to N3.30 billion at full year. If the third quarter growth rate is maintained, it is expected to earn over N8.4 billion in after tax profit at the end of 2015. This will be a major rebound of 142.4% and C M Y K

a new peak in the company’s trading history. The year-onyear drop in profit is explained by two major rising costs – cost of sales and interest expenses. Against the 3.1% decline in sales revenue, cost of sales grew by 19% yearon-year to N12.28 billion. That caused a drop of 14% in gross profit to N18.18 billion, lowering gross profit margin

from 67.2% to 59.7% over the review period. The other major cost increase is net interest cost, which grew by 45.5% year-onyear to N3.85 billion at the end of the third quarter. The company therefore devoted a significantly increased share of revenue to interest expenses during the period. Short-term borrowings have

more than doubled at N21.57 billion while long-term debts went down by 10.7% to N33.17 billion. New borrowings were needed to meet financing activities mostly loan repayment and interest expenses. The company lost profit margin during the period, as costs grew while revenue declined. Net profit margin declined from 26.3%

in the third quarter of last year to 19.3% at the end of September The company earned 7 kobo per share at the end of the third quarter, down from 13 kobo per share in the corresponding quarter of last year. Earnings per share is projected at 11 kobo for Transcorp at the end of 2015 against 0.0 kobo reported in 2014. Much of the after tax profit of last year was attributed to minority interest.

*Mike Uzor is a financial analyst based in Lagos

Vanguard, MONDAY, NOVEMBER 16, 2015 — 29

Corporate Finance Winners Emerge in second Yojus painting contest

OPENING - From left: A customer, Blaise Ugwumadu; Managing Director, Fina Trust Microfinance Bank, Mr Deji Popoola; Chairman, Pastor Ituah Ighodalo; Director, Mr Kunle Adeoye and Head Retail Marketing, Adetutu Fasina-Thomas.at the official opening/dedication of Fina Trust Microfinance Bank Ikorodu Branch in Lagos

Operators task new Finance Minister on coordinated policy pronouncements ...As equity market continues to wobble BY NKIRUKA NNOROM

perators in the nation’s capital market have called on the newly appointed Finance Minister, Mrs Kemi Adeosun, to chart clear economic policies that will leave nobody in doubt of where the country is heading to in order to restore investors’ confidence in the market. They also called on the minister to deemphasize the practise of laying more emphasis on the progress of the money market above the capital market, saying that both segments of the economy are ‘two sides of the same coin.’ They affirmed that unclear policy thrust had hitherto discouraged foreign and local investors from investing in the market. Meanwhile, activities on the equity market have continued to wobble two days after the ministerial appointments. Though the market capitalisation of all listed equities rose by N11 billion, representing 0.1 per cent to close at N9.974 trillion on Wednesday, the gains was wiped off Thursday with the capitalisation slipping by N85 billion or 0.8 per cent to close at N9.899 trillion. Similarly, the all Share Index, which rose by 33.66 basis points, representing 0.1 per cent appreciation on Wednesday to settle at 29,014.78 points, went down by 0.7 per cent at the close of transactions on Thursday to

close at 28,798.67 points. According to Mr. Chinenye Anyanwu, Managing Director, Dependable Securities Limited, getting the capital market back on track requires vibrant private sectors which would help drive the economy, adding that the capital market cannot thrive in a sluggish economy. Besides, he said that the government should create enabling environment to drive private sector, while privatisation should be speeded up. “The economy should be private sector

driven; every other organ that has not been privatized should be privatised. So privatization should be speeded up by the new minister and let them provide enabling environment. There are enough private investors to power this economy,” he said. “Hitherto, it was as if money market is the emphasis; Money and capital market are two sides of the same coin, if you leave any of them, the economy will suffer. She needs to see the economy itself as one in making policy thrust. One of the advantages that will come

from the appointment is that there will be policy thrusts and statement. So far, what we have tried to do is to decipher where the president is going with his decisions and actions.” “The finance minister will have to give us a policy thrust and statement and let us we know where she is going to and that has actually held at bay the foreign investors. This market is made up of 60 per cent of foreign investors and all of them have bolted away, standing on the wings expecting this pronouncement.”

Programos expands capital market presence with CiFIXProStock trading software

rogramos Software Group, an indigenous software company with expertise in the computerisation of business transactions in the capital markets in Africa, notably Nigeria and Ghana is strengthening its presence once again with the introduction of two products: CloudIntegra Back-Office Investment Software and CiFIXPro Orders Management System (OMS) Stock Trading Terminal software. The CiFIXPro EMS/OMS assumed an international status, having made a bullish return with Programos Software’s FIX Trading Community member partners, Fidel Softech Pvt, India outsourced to power the

product. CiFIXProOMS exhibits features of connecting stock traders with the active stock exchange markets of any country over financial information exchange (FIX) 5.0 Sp1 language interface which allow booked, modified and cancelled orders of equity or debt instrument market boards get routed to the exchange FIX engines. CiFIXProOMS receives trade executions from the exchange along with related market data for market watch, analytics, news and automatic trade data processing to backoffice with notification system to investors. According to Amos Emmanuel, CEO, Programos Software Group and the 1st Vice President Information

Technology Association of Nigeria, ITAN, the CiFIXProOM SStock Trading solution is made of Orders/ Trades Manager, Risk Management System (RMS), Market Data Manager, OMSEMS Communication Channel, and Back-End Management System that integrates seamlessly with the back-office CloudIntegra Software. He explained that the related technology solutions will protect the investors by ensuring an inclusive portfolio management, which permits openness in transparency, loss salvaging and optimal return boosting in the face of common market risks and turbulence that have made many run away from the capital markets.

inners have emerged from the second edition of the Yojus painting competition which had its theme as ‘Our Beautiful World.’ At the painting competition three pupils emerged winners; Chiziteram Onyia, a primary five pupil from New Fountain School, AmuwoOdofin emerged first, Iyoha Peculiar of Stee School, Festac came second while Franc Uche Egbuchilam from Mbari Mbayo School, Jibowu emerged third. Brand Manager, Yojus Fruit Drink, Foluke Makinde, drew attention to how Yojus as a brand refreshes, explores the colourful and fun loving nature of children and engages their imagination. Makinde added that: “Yojus will continue to organize this contest and we hope to make it even bigger and better through participation from more schools One of the judges of the contest, renowned Artist and Art Educator, Ibrahim Ganiyu commended Ranona for instituting the contest and encouraged its continuation.

CSR: Power Oil, Rhodium partnership to empower Nigerians

s part of its corporate social responsibility, CSR thrust, cooking oil brand – Power Oil is partnering Rhodium Chef Global LLC on season 2 of the Making of the Chef Nigeria reality cooking competition. Power Oil is endorsed by the Nigerian Heart Foundation, produced by Raffles Oil LFTZ Enterprise and also distributed by Multipro Enterprise Limited, a subsidiaries of the Tolaram Group. Speaking on the sponsorship, the Head of Public Relations & Event, Tolaram Group, Mr. Tope Ashiwaju said Power Oil is proud to partner with Rhodium Chef Global on season 2 of the cooking competition to empower your young Nigerians to becoming world class Chefs. Ashiwaju noted that the brand was particularly impressed with the opportunity to train successful participants in the competition at Stratford University, USA which is in line with the Corporate Social Responsibility (CSR) focus of Tolaram Group to empower Nigerians in different field of endeavor.

30— Vanguard, MONDAY, NOVEMBER 16, 2015

Vanguard, MONDAY, NOVEMBER 16, 2015 — 31

32 — Vanguard, MONDAY, NOVEMBER 16, 2015

Homes & Housing

FMBN plans housing scheme for varsity lecturers

Housing as tool for economic development

s part of efforts to enhance learning, performance and living standard in Nigerian universities, The Federal Mortgage Bank of Nigeria (FMBN) has commenced moves to unveil a housing scheme for university lecturers in the country by January 2016. Managing Director of the bank, Mr Gimba Ya’u Kumo, said the move is expected to their service delivery and thus enhance standard of education in the country. He said the programme will start as a pilot programme in the six geo-political zones of the country starting with the federal universities. He assured that before the year runs out, the product would have been properly developed and tested for launch in January 2016. “There is a programme we are coming up with known as ‘Housing for Lecturers’. We are discussing with Academic Staff Union of Universities (ASUU), and we are coming up with a pilot programme that is going to be in the six geo-political zones of the country. We will start with the federal universities, because we will have access to their funds directly. When that works very well, then we will now replicate it in other universities and other higher institutions of learning,” he stated.

US mortgage rates rise sharply

verage long-term U.S. m o r t g a g e rates this week rose sharply for a second straight week as expectations grew that the Federal Reserve may soon raise its key short-term interest rate. Mortgage giant, Freddie Mac said the average rate on a 30-year fixed-rate mortgage jumped to 3.98 percent from 3.87 percent a week earlier. Nearing 4 percent, it was the highest level for the 30-year rate since July. The rate on 15year fixed-rate mortgages climbed to 3.20 percent from 3.09 percent. A year ago, the average 30-year mortgage rate was 4.01 percent, while the rate for 15-year loans was 3.20 percent. While it kept the key rate at a record low near zero, the Fed recently signaled the possibility a rate hike could come at its next meeting in December.

Mass housing development Stories by YINKA KOLAWOLE

he housing sector is the bedrock of the economy of most developed nations, an important tool for stimulating growth. Housing construction indices are some of the most common measures used by analysts to gauge economic trends in OECD countries. In more advanced countries like the United States of America, Britain and Canada, the sector contributes between 30 percent and 70 percent of their Gross Domestic Product (GDP). Investment in housing accounts for 15 percent to 35 percent of aggregate investment worldwide and the sector employs approximately 10 percent of labour force worldwide. However, the housing and construction sector in Nigeria accounts for only about 3 percent of the country ’s rebased GDP. The country has an extremely low ratio of credit to GDP, and of the little credit provided by banks, only

a fraction of it is for mortgages. Despite the size of the nation’s economy, mortgage debt to GDP is only about 0.5 percent. Multiplier effect The housing sector has the potential to generate employment, increase productivity, raise standard of living and alleviate poverty.

The job creation potential for the housing sector is enormous in Africa and other developing countries This is because investment in housing affects all facets of life through its multiplier effect on economic development through forward linkages to the financial markets and backward linkages to land, building

materials, tools, furniture and Labour markets. For example, the construction of a medium sized (2/3 bedrooms) bungalow is capable of directly creating employment for an average of 76 workers. The number goes up significantly when the forward and backward linkages are factored into the process. Therefore for 1000 housing units scheme of two bedroom bungalows, up to 76,000 workers will be engaged for a period of between 12-18 months. Accordingly, if in a year we build a 1000-housing unit estate in each of the 36 States of the federation and FCT, we would create a workforce of 2,815,000 per annum. Contribution to GDP Speaking at a World Bank forum in Washington, last year, former Minister of Finance/Supervising Minister of the Economy, Dr. Ngozi Okonjo-Iweala, highlighted the potential contribution of the housing sector to national development in three possible ways. According to her, the

Lamudi Nigeria appoints new MD L

amudi, Nigeria’s online property portal, has announced Akua NyameMensah as the company ’s new managing director. Akua, who currently serves as the MD of Lamudi Ghana will oversee operations of both companies. Speaking on her transition to Nigeria, Akua said she is looking forward to working with the two teams across both continents, which she believes will lead to favourable opportunities for the company as a whole. She succeeds Obi Ejimofo, who has held the

position of MD of Lamudi Nigeria since late 2013. Ejimofo is regarded as the driving force of the company’s 105-percent increase in land and property listed for sale or rent. He has made countless contributions to the company’s success, including the over 3,000 real estate agents the company caters to across Nigeria. On the choice of a new MD for Lamudi Nigeria, Ejimofo stated: “Akua was the obvious and best choice to take this role. Her achievements at Lamudi

Ghana are remarkable and because she’s been there from day one, I believe she is well equipped to take this company to the next level”. Before joining Lamudi, Ms Nyame-Mensah worked as an events consultant and for several development contractors in Accra, Ghana. She holds a Master’s degree from the University of Pennsylvania and a Bachelor’s degree from Bryn Mawr College. Under her tenure at Lamudi Ghana, the company has grown to secure over 8,000 property listings on its site.

sector can serve as an important contributor to economic growth, adding that the housing sector has a tremendous multiplier effect on the broader economy. “Housing contributes to GDP through two main channels, namely: private residential investments, such as, construction of new homes, and also via the consumption spending on housing services. For example, in the USA, private residential investments contribute about 5 percent of GDP, while housing services contribute another 13 percent of GDP, summing up to a total housing sector contribution of 18 percent of GDP. There are also secondary economic impacts of the housing sector. Housing wealth is often a large component of net personal wealth (about half of net personal wealth in the USA). And in developed countries, housing wealth/ assets can often be used as collateral to stimulate additional private consumption and investments,” she stated. Furthermore, OkonjoIweala noted that the housing sector can support job creation and economic inclusion. “The job creation potential for the housing sector is enormous in Africa and other developing countries. In India, each new housing unit generates 1.5 direct and 8 indirect jobs. In South Africa, each housing unit creates 5.62 direct jobs and 2.5 indirect jobs. But the key point is that the sector can also help promote economic inclusion by creating jobs for our craftsmen and artisans such as masons, plumbers, welders, electricians, painters and so on,” she said. Social benefit In addition, she noted that the sector also provides social benefits by contributing to community - and nation building. “We know that home-ownership often gives citizens a true stake in their communities. After owning a home, many citizens tend naturally to be concerned about the provision of public goods in their communities from schools, to clinics, to security. These are intangible social benefits which a strong housing sector can help to generate,” remarked. Homeownership is a measure of household wealth and GDP. It is generally accepted that the standard of housing in a nation indexes its effective economic development; standard of living and its height of civilisation. Therefore, the housing sector has a tremendous impact on job creation, employment, security, socio -political stability, effective economic growth and development of societies.

Vanguard, MONDAY, NOVEMBER 16, 2015 — 33

Economy

As Buhari swears in economic team investment experts react Stories by Emeka Anaeto, Economy Editor Amidst high expectations with the inaugurated the Federal Executive Council and placement of the cabinet economic team by President Muhammadu Buhari mid last week some financial market segments and investment analysts appear both mixed and cautious. The critical economy segment placements include: Senator Udoma Udo Udoma (Budget and National Planning); Babatunde Fashola, former goveror of Lagos State (Power, Works and Housing); Dr. Okechukwu Enelamah, an investment banker (Trade, Industry and Investment); Kemi Adeosun, former Ogun State Commissioner of Finance (Finance); Ibe Kachikwu, Managing Director of Nigerian National Petroleum Corporation (Petroleum Resources), Kayode Fayemi, former governor of Ekiti State (Mining); and Audu Ogbeh, former Chairman of PDP (Agriculture and Rural Development). FSDH Securities Limited, an arm of FSDH Merchant Bank said last week that investors were excited on the cabinet take off which showed in the reversal of the several days long bear run in the Nigerian Stock Exchange, NSE. The market closed positive on Wednesday, the day the cabinet was inaugurated but turned negative on Thursday before returning positive on Friday and on week-on-week basis it closed negative last week. Cowry Assets Management, a Lagos based investment house was more direct in its prognosis of the development in the political and fiscal environment last week. According to the company ‘‘in keeping with his promise to have a lean government and reduce cost, the number of ministries was cut from 36 to 25. With the inauguration of the Federal Executive

C M Y K

cabinet we expect proper governance to now start and the economic direction to be defined in the coming weeks hence we project an uptick in business confidence’’. Afrinvest Group, a leading investment house in Nigeria, in its own reaction was more detailed. According to the company ‘‘as expected, the number of ministers was pruned down

to 36 from 42 whilst some ministries were merged to give a total of 25 ministries from 29. This aligns with the objectives of the government to reduce administrative overheads to conserve resources in a period of declining oil prices, which resulted in a 30.7 per cent year-on-year decline to N3.5 trillion in revenues accruing to the federation account in

the first half of the year. ‘‘The President opted for Mrs. Kemi Adeosun, a seasoned investment banker, immediate past Commissioner of Finance in Ogun State, South West Nigeria and public finance expert to be the Minister of Finance. Dr. Okechukwu Enelamah, earlier tipped to become the Minister of Finance, was instead selected

to Head the Ministry of Industry, Trade and Investment where he is expected to drive policies to resuscitate manufacturing and attract direct and portfolio capital. The other Ministers expected to form the core economic team of the President and drive economic policy initiatives include the Ministers of Budget & National Planning (Sen. Udo Udoma) and Power, Works and Housing - Mr. Babatunde Fashola, the former governor of Lagos State. ‘‘Although we are moderately bullish on personalities of the aforementioned ministers to drive policy initiatives, the fact that the appointments were delayed for five months in a period of deteriorating macroeconomic fundamentals has set expectations high for them. ‘‘Important policy decisions lie ahead and the market would expect the Finance Minister to work out a coordinated policy framework along with monetary authorities to respond to the macroeconomic challenges of slow growth, heightened inflationary pressure, declining reserve buffers and exchange rate uncertainty. ‘‘The new Minister of Finance during her screening at the Senate backed the CBN's FX administrative measures in the foreign exchange market. ‘‘The President, at the swearing-in ceremony also

Nigeria’s bond market snubs foreign investors N

igeria’s bond market may have successfully shaken off the strong influence of international investors on its performance going by the results of the market last week. Last Monday, foremost international lender, Barclays Bank announced that it would remove Nigerian bonds from their flagship Emerging Markets Local Currency Government Index in February 2016, citing liquidity constraints and foreign exchange controls. This follows similar action by JP Morgan, which announced a phased removal of Nigerian bonds from its global GB-EM Index starting this month. But the investors still remained bullish on the Nigerian fixed income market despite the announcement. Market operators said majority of the

players in the market now are domestic investors adding that the market was now ready to absorb whatever the foreign investors dumped and fill the investment gaps. They however cautioned that the strength demonstrated last week was essentially because the market was highly liquid and the high liquidity has been persistent for almost two months now. The Barclays exit experience was almost the same scenario with JP Morgan two months ago though the market then was not as ready, hence a major downside in the first two trading days of the announcement of the phasing out of Nigeria’s bond from the international investment bankers’ index. The market had quickly recovered within one week of the JP Morgan

announcement though liquidity situation was not as boisterous as it has been in the recent weeks. According to banks’ treasury dealers the suspension of Open Market Operations, OMO, a treasury auction by the Central Bank of Nigeria, CBN, has also buoyed liquidity level of banks which has doused the effects of foreign investors exiting the market. The bullish performance noticed in the Bond market continued in the week given the high levels of liquidity that has left investors spoilt for choice on fixed income instruments to take position in. Currently most of the treasury instruments including non-benchmark bonds are trading at a premium to par. Last Monday, the market opened for the week bullish given liquidity levels of over N800 billion as there was increased buying interest across all trading instruments, with the April 2017, June 2019 and February 2020 being the most attractive, thus average yields declined 95bps to 10.2 per cent. On Tuesday, the buying interest persisted as domestic investors increased participation in the bond market with the March 2024 which was to be re-opened at the auction the next day, Wednesday, witnessing increased activity while the 20 -year benchmark instrument July 2034 traded at a premium to par. In addition to these bullish performance the Debt Management Office, DMO, reopened auctions on the February 2020, 5-year tenor and the March 2024, 10year tenor debt instrument on a cautious note apparently not too sure what the market reaction would be at the backdrop of Barclays announcement.

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E-Commerce

Kushal Dutta named MD of Jovago Nigeria

nline hotel booking portal, Jovago.com has announced Kushal Dutta as the new Managing Director for Nigeria. Kushal who served as Head of Revenue Management before his appointment is succeeding Marek Zmyslowski who has been the Managing Director since 2013 when Jovago started operations in Nigeria. Speaking on the transition at a handover ceremony in Lagos, Chief Executive Officer of Jovago, Paul Midy, said: “Kushal has made countless contributions to Jovago’s success. We are positive that he is the kind of leader we need at Jovago right now. In his new role as Managing Director, Kushal will continue to serve the company with his unique insights, creativity and inspiration.” Speaking to newsmen after the handover, Dutta said: “I am delighted to lead Jovago Nigeria’s operations. As a tea m, we are pleased to carry on the vision and continue to increase our impact as Africa’s largest hotel booking platform. I clearly realize the scale of the assignment ahead and we are dedicated to expanding our portfolio within Nigeria, and around the world.”

Online industrial store debuts for oil companies

il companies and other industrial concerns can now order their materials online, as Gibadi, an indigenous industrial store debuts in Nigeria. The e-commerce company which prides itself as a business to business marketplace specializing in business and goods supplies for small and medium-size companies across Africa, said it is ready to sell the largest collection of industrial and business products through the internet. “We are thrilled to be the foremost agent for fasttracking the industrialisation of Africa by simplifying supply chain for small and medium-size companies across the continent through local availability of goods supplied,” said Ola Ogunsemowo, co-founder of the company.

Konga integrates BVN into e-payment transaction Stories by JONAH NWOKPOKU

nline marketplace, Konga.com has introduced the bank verification number, BVN as part of its authentication process for online payment in its recently introduced epayment platform, KongaPay. In order to make online transaction more secure,

KongaPay utilises One Time Password, OTP culled from the user’s bank verification number (BVN) to authenticate transactions. This makes KongaPay the first non-banking e-payment solution to link BVN to its process through its partnership with the Nigeria Interbank Settlement System, NIBSS. Speaking to journalists recently in Lagos, Vice President, Payment and

Digital Goods, Konga.com, J R Kanu , said after successful launch and integration of KongaPay with Access Bank, Diamond Bank, Ecobank, FCMB, First Bank, GTB, Heritage Bank, UBA and Zenith Bank, most Nigerian banks now offer access to KongaPay boosting the confidence Nigerians have on electronic payment and ecommerce. According to him, through a partnership with Nigerian

LAUNCH – From left: Head, Youth segment, Airtel Nigeria, Segun Aderinokun; Managing Director, Evans Publishing Group, Lukman Dauda; Chairman, Mobi Tutor Systems Ltd, Ayo Afolabi; and Vice President, Segments, Usage and Retention, Airtel Nigeria, Dinesh Balsingh at the launch of Airtel Smart Trybe Junior held recently in Lagos.

Essien, Anabraba to speak at maiden edition of Startup South

ounder of Nigeria’s online hotels booking portal, Hotels.ng, Mark Essien and Co-founder of mobile payment provider, Paga, Jay Anabraba will be among the top innovators and business leaders to speak at the maiden edition of Startup South conference to be held in Port Harcourt come November 28, 2015. Other speakers also expected at the conference include: Co-founder of Andela, Aboyeji Iyinoluwa; Co-founder of Port Harcourt’s pioneer innovation hub, FocusHub, Godson Ohuruogu; Founder, Foodstantly, Uchay Ariolu; Prinicipal Investment Officer, Singularity Invest, Lexi Novitske. Julia Jacks and Etinosa Omoregie from MoniPulo and BoleKing respectively will also be speaking at the event. StartUp South is a one-day educational and networking conference for small business owners, investors and their clients who currently operate out of the South-South and South-East geopolitical zones

of Nigeria. The event is also expected to feature a pitch session, keynote sessions, panel discussions which will culminate at a dinner session to wrap up the program. In a statement, Chief Convener of Startup South, UcheAniche said: “Startup South is the perfect opportunity for investors to discover innovative startups in

the South-South and SouthEastern part of Nigeria. We believe Africans can solve Africa’s problem if they borrow a leaf from the men who built America. We need individuals to solve specific problems and become successful at solving them. Port-Harcourt is ripe for an active Angel Network and it is high time the world knew that.”

banks, KongaPay has changed the face of online shopping in Nigeria by removing the uncertainties customers associate with prepaying for goods and services they are yet to receive. The online payment platform allows customers pay for their orders without using debit cards or having access to the internet, thereby reducing their dependence on payment on delivery and restores trust among users. He further explained that unlike other online payment platforms, KongaPay eliminates the need for customers to enter sensitive personal information such as credit or debit card details or Internet banking passwords. Also any customer who has a bank account and a registered mobile phone can use the KongaPay without necessarily signing up for internet banking. During a demo session, Vice President, Marketing, Konga .com, Gabriel GabUmoden, said that upon opening an account on KongaPay, the user gets instant loyalty reward of N500. Gab-Umoden said that KongaPay is not only more secure but also easier to use than other e-commerce payment methods as sign up and subsequent usage can be completed in just a few steps. Explaining the process, he said, “What the shopper is required to do to register on KongaPay, is to select his or her bank, enter his or her name, account number and date of birth and then finish registration by using the code sent via SMS to the individual’s registered mobile number. This code will be used to authorize his or her transactions anytime the user shops on Konga.com.”

CWG launches online marketplace, Openmall.ng

omputer Warehouse Group, CWG Plc has launched www.openmall.ng, an online marketplace that aggregates products from different stores on Openshopen.ng for ease of navigation for buyers and to enhance sales of store owners. Openmall was launched at a ceremony which was held at the International Trade Fair Complex, Lagos. Speaking at the launch, Mr. James Agada, the Chief Technology Officer, CWG Plc, explained that the creation of

Openmall stems from the passion of the company to empower businesses in the country to reach their desired potentials. He said: “At CWG, our business is to make it easier for businesses to grow. We have created Openmall as an additional tool for them to succeed by creating a pool where buyers will see their products easily and buy them with ease. This is because exposure is crucial for sales. It is often said that you are wasting your time when you are winking at a girl in the

dark.” Agada added: “Using the internet, people go to Amazon to buy things that they can equally get around, sometimes at a better quality or cheaper prices. They are forced to patronize these foreign stores because they cannot access local stores except they visit their physical location. Therefore, local businesses lose sizeable income that could have grown their capacities. But, with Openmall and Openshopen, this is about to change.”

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Media & Advertising

Why FG must ban importation of biscuits — Subramanian, MD, Sona Biscuits M

r. Subramanian M u r u g e s a n , Managing Director of Sona Biscuits, a subsidiary of Sona Group of Companies spoke to

PRINCEWILL EKWUJURU

on the confectionery industry in Nigeria and other sundry issues, while calling on government to place a total ban on importation of biscuits and relevant confectionery into Nigeria. Except. Current capacity We have reached capacity utilisation of almost 60 percent. We have a capacity of almost making 100 times biscuit per day. So we are left with some capacity utilisation. So once we reach 100 percent capacity utilisation of the existing capacity, we intend to construct additional plants. However, the construction of the new building that will house the plants is on. The civil work is already going on, there are already equipment suppliers from Italy and India. We are also discussing with some suppliers from America. So the construction is on for the plants and installation. Biscuit market and market share

I have been working in Nigeria for the last fifteen years, and biscuit industries only. I worked with Niger Biscuits in Apapa, and I also worked with the Creek, the bread people, the Chinese Group. The biscuit segment is almost a N70 billion per annum business. So, there is a lot of

Our contribution right now is marginal, but we will gradually increase our market share potential in the snack food segment especially. You are asking of our contributions, being a young company of hardly four years, our contribution is hardly, 5 to 8 percent. There are big players all around. There are massive players, if you take Ok Foods, Deli Foods, Niger Biscuits, and other small players like NASCO Biscuits in Jos. Our contribution right now is marginal, but we will gradually increase our market share. As I told you earlier, there are a lot of areas that are fully not

penetrated in Nigeria. I have travelled to Nigeria widely. I have travelled to Kaduna, Kano, Abuja, to the East, to Minna. So many states I have travelled to specifically. So I see that there is a very huge potentials for the product. I can tell you. I being from India, I observed that percapital consumption of biscuit in Nigeria is still very low, where the need for nutritious, save hygienic food is very much essential for the people. So there is a very good growth and a very good potential in this segment. And we are intended to be here for a very long time to come. Low consumption, obesity and diabetes You have to be very careful.

As far as that particular question is concerned, children should not be deprived of essential ingredients. Ok, your question is related to an adult. Do not mind me. The Yoruba land has got that issue of obesity, diabetes, blood pressure issues and all. For this particular land we have got our own application concerning sweet products. Which we call semi-sweet products and No sweet products. You will find that the sugar content is very low or nil in the products. We intend to launch a product called Sona Buster, before the end of this year, where the sugar is practically nil and it will be a semi-sweet product, with a little bit of suger that will be palatable to eat. You would

•Subramanian find that it make adult to like to eat like what you said, Whereas for the children, you hope to give their carbohydrates, we hope to give them all the essential ingredients, nutrients, which is very much essential for their own growth.

Etisalat, Union Bank, Multichoice support CSR Conference

s part of effort to promote Corporate Social Responsibility, CSR initiatives in the country, Etisalat Nigeria, Union Bank and Multichoice Nigeria have shown supports for the CSR conference scheduled this month from 19 to 21 in Ibadan, the Oyo State capital.

This year’s conference comes with the theme: “Challenges and Prospects of CSR in Nigeria- the Roles of Organisations, Government and the Media”, the conference will feature seasoned industry practitioners who will gather to proffer solutions to the growing need for CSR sustainability in Nigeria.

According to coordinator of the conference Mr. Goddie Ofose, said the conference has been designed among other things to provide platform for discussion on serious issues, engender opportunities for bonding between brand journalists and the private sector as well as other critical stakeholders.

Micro-Finance Stories by Providence

Obuh

he Institute of Chartered Accountants of Nigeria, ICAN, has said that there is a need to improve accountacy contributions to entrepreneurship in the country. ICAN President, Mr. Femi Deru, said this at the 56th induction ceremony held in Lagos, for new members.

ICAN harps on improving accountancy's contributions to entrepreneurship According to him, “As the lubricant of commerce, the language of business and guiding light of public and private sectors decisionmaking, accountacy and financial mangement require the support of both private

and public sectors. We must do all we can not only to bring accountancy to the forefront but also continously improve its contributions to entrepreneurship and promotion of the public inetrset.

Meanwhile, Deru urged the over 260 newly inducted members on the need to uphold integrity as a watch word. He said that it is important to imbibe and conform with the rules of the profession in

Women’s contribution to economy high – WIMBIZ

he Women in Management and Business, WIMBIZ, has rated the contribution of women to the growth of the economy high, as 70 percent of people in the micro, small and medium enterprises are women. Speaking at the preconference media parley, an Executive Council Member, WIMBIZ, Mrs. Aisha Ahmad, said there is no limit to what women can do if given the enabling environment as statistics reveal that Boards with women on it have 26 percent more return on capital than those without women. She said “because most of

the poor and uneducated are women, we are not only pushing for gender equality but to match the knowledge gap and access to funds to

help women reach their potentials. Statistics show that the return on capital of companies with women on their Boards is 26 percent

like climate and water quality in West Africa. “The product comes in an ergonomically designed bottle, which is easy to hold and use”, he added. Cormart Nigeria Limited which started operations as a trading company in specialty chemicals and slowly evolved into a leading manufacturer of household cleaning and fabric care products with brands like Renew, Shine All, Corysan, Kleansol and Antox are part of the Tropical General Investment Group which has Chivita juices, Chi snacks, Chi Farms, Romsons, ORC Fishing as some of its group companies.

Firm re-launches product

n its bid to ease household chores and positively impact on homes, Cormart Nigeria Limited has re-launched Shine All liquid dish wash in addition to various products such as Kleansol floor cleaners, Corysan hand sanitizers and Antox disinfectants. Head, Consumer Business, Mr. Satej Samb, described the company’s latest offering, Shine All liquid dish wash as a unique product with two years of research, development and testing, explaining that it was formulated keeping in mind specific usage pattern of consumers and other environmental factors

higher so you can imagine the ripple effect this would have on the Nigerian economy if it is replicated in other areas of the economy.

addition to lectures received. Commending the new members he explained that induction ceremonies are designed as a platform to; introduce newly admitted members to the ethics, mannerism and acceptable practices in the revered profession of Chartered Accountancy; formally welcome and admit into the disciplined profession individuals who have satisfied the council that in learning and character they have imbibed and are ready to observe at all times, the universal norms of the accountancy profession that are founded on trust, integrity and exemplary conduct, among others. Deru disclosed that the institute which started with 250 members about 50 years ago, has increased its membership strength to 39,664 following the induction of the 262 new members.

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Tel:0805 220 1997

he Managers of our economy, have inexplicably, merely succeeded in shunting more and more Nigerians into poverty, despite our abundant human and material resources, with bountiful export revenue from oil, over the years. Sadly, credible international agencies now also allege that about 70% i.e. over 100million of Nigerians now live on less than $2 a day, while fewer employment opportunities exist in a job market that is increasingly, annually bloated, by millions of new entrants. Thus, social scientists may rightly suggest that the very disturbing current level of crime and insecurity, would recede if more job opportunities were available to absorb our teeming, restless youth population. There is probably no greater antidote to poverty than sustainable work opportunities that would provide income to fund expenditure on basic necessities, such as food, clothing, and shelter for more families. The threat of poverty will, clearly, also become reduced where government, responsibly provides other social safety nets such as subsidized education and public health facilities, as well as reasonably priced and efficient mass transit and power systems. Regrettably, however, despite the earlier promises of preceeding administrations to arrest the increasing surge of poverty nationwide, the reverse has actually been the case, and Nigeria has sadly become listed in the ranks of the world’s poorest nations, even when crude oil price fortuitously exceeded $120/ barrel and CBN’s dollar reserves approached $60b in recent years. Incidentally, no plausible reason, has so far been suggested as cause of the serial failures of former Presidents Obasanjo, late

Can Buhari reduce poverty? YarAdua and later Jonathan, to bring back some dignity to the lives of millions of our impoverished citizens. However, with cabinet ministers finally sworn-in to drive Buhari’s change mantra, public expectation still remains very high that this administration possesses a better strategy that would herald rapid success. Buhari kept faith with the resonant sound bite in his inaugural speech, that he belonged to nobody and belonged to everybody, when he declared at the recent retreat with ministersdesignate, in Abuja, that “our economic focus will be policies that will ensure inclusive growth and we will count our achievements based on the number of Nigerians we move out of poverty”. The unrealised economic objectives of earlier administrations were primarily in relation to job

Social scientists may rightly suggest that the very disturbing current level of crime and insecurity, would recede if more job opportunities were available to absorb our teeming, restless youth population creation, poverty reduction, inclusive growth and diversification of the sources of wealth in the economy. Sadly, without exception, these former administrations all failed in their quest for any meaningful success at economic redemption. The inevitable question, therefore, is, what will Buhari’s team do differently

to create jobs and succeed in positively repositioning our economy. The issues of revenue leakages, wastages, and corruption are often identified as the major hurdles before which past administrations faltered in their strategies to create jobs and give a better life to increasingly more Nigerians. However, Buhari’s well documented Spartan tradition and his evident abiding passion to wrestle down corruption may minimize the above commonly listed, threats to poverty alleviation. The usual strategy for creating jobs in previous administrations was simply to throw hundreds of billions of Naira into various poorly designed job creation projects, such as the now defunct SUREP; such interventions, generally also included special loan packages with single digit interest rates for the real sector. Sadly, the more compelling attraction of government’s sovereign risk free borrowings, with the attendant double digit interest rates, invariably guided the appetite of the banking community from actively supporting SMEs, which are inherently more risk prone, with competitively priced loans, from which the banks earned less yield. It will really be very interesting to see how Buhari’s Economic Team would successfully resolve this traditional systemic contradiction which crowds out the real sector from access to cheap funds while the CBN ironically, simultaneously, continues to pay double digit interest rates to borrow funds that will simply be sterlised and kept idle. Even till date, the CBN’s dedicated portfolio of SME targeted loans, including BOI

galvanise consumer demand and investments in an economy with a gross domestic product value of over $510bn (now actually below $400bn as a result of about 25% Naira devaluation recently). Instructively, the real sector that is actually the main driver of employment and growth in every successful economy and government policies are carefully structured to support and fund real sector activities. However, our economic managers, so far, appear helpless to effectively, positively, modulate the critical monetary indices of inflation, cost of funds and exchange rate; for example, high rate of inflation would stifle consumer demand and induce poverty where incomes are static; understandably, also, without consumer demand, there would be little or no motivation for investments that would instigate job creation. Similarly, high cost of funds, which are currently above 20% clearly increase the risk of borrowing and therefore restrains investment activities and job creation. In the same vein, a Naira exchange rate that is constantly depreciated by CBN’s inability to successfully manage Naira liquidity, will inevitably also increase raw material and production costs and make locally produced goods uncompetitive, and therefore cripple industrial growth and job creation. Indeed, President Buhari’s passionate desire to create more jobs and reduce poverty may just remain fantasy, like the promises of former Presidents, if the poison of systemic excess Naira supply which makes the realisation of favorable monetary indices impossible continues to constitute serious distortions in our economic framework. SAVE THE NAIRA! SAVE NIGERIANS!!

interventions funds, do not enjoy enthusiastic support from the banks, and unexpectedly, therefore, remain largely without patronage; conversely, micro enterprises, with their relatively modest credit requirements continue to endure the oppressive burden of over 6% interest rate per month, on loans which are sourced from government registered and supported Micro Finance Houses. So how will Buhari redress such brazen financial extortion for this category of largely voiceless, small time businesses. Incidentally, with facilitated access and cheaper cost of funds, over 15million registered micro enterprises nationwide can become empowered to individually create at least one additional job to make a significant dent on the current intimidating tower of unemployment, to provide a livelihood for millions of Nigerian families and effectively reduce the level of poverty nationwide. Furthermore, in the present austere dispensation with crude oil prices hovering in the $40-$50/barrel range, there would hardly be any residual revenue after deduction of recurrent expenses, to fund those capital projects which would normally create job opportunities and enhance social welfare. So, despite the attendant oppressive cost of borrowing, unless Buhari’s government commits very heavily to further step up debt accumulation, Nigerians will be disappointed if we expect any significant improvement in the alleviation of social poverty. Nonetheless, the federal government’s annual average budget of about N5Tn (about US25bn) is clearly inadequate, in reality, to

Business & Economy Abuja mass rail transit gulps N162bn BY EDIRI EJOH PRINCE OKAFOR

he Federal Government has so far spent over $823 million (about N162 billion) on the Abuja mass rail transit. Engr. Kashim Ali, President of The Council for the Regulation of Engineers in Nigeria, COREN, disclosed this in Lagos at a seminar organized by KPMG professionals in partnership with IPFA International. The COREN President, who spoke on the theme: ‘Unlocking Rapid Development of Transport

Infrastructure in Nigeria and West Africa,’ said: “The Abuja mass rail transit has attained over 70 percent completion, the total cost is $823 million and it is out for all to see.” He described the railway network as the best and viable option for transportation in the country, calling for speedy action on the demolition of structures on the railway right of way, by properly demarcating the assets, before it. He said: “The truth be told, we don’t have any option

than to develop the railway system, because it eases traveling, and a lot of goods are carried from the port to the hinterland, and the best way to transport these is through such means. “Vehicles carrying cement all over the road and destroying them, all this can be transfered to the rail, we don’t have an option for the country of our size and the kind of economy that we have, we must have a railway system that is the best option for mass transportation,” he stated.

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

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From left, Mrs. Janet Adenrele, Assistant Publicity Secretary; Mrs. Osaretin Demuren, First National Chairman; Mrs. Weyinmi Madugu, National Assistant Financial Secretary; Dame Victoria Ekhomu, National President, Stella Avbuluimen, Lagos Branch President and Mrs. Phil Okonkwo, Head Publicity Team, all of St. Maria Goretti Old Girls Association, at a press briefing where they announced the Association's coming AGM to hold on November 21, at See Event Centre, Lekki Epe Expressway, Lagos.

From Left, Mr Aro Olalekan, Senior Brand Manager, Canoe Detergent Pz Cussons; Alhaja Mufuliat Abimbola Adebunmi, Iyaloja General Odi-olowo/Ojuwoye LCDA, Mushin, Lagos; Mr Obarotimi Adebayo, Group Head, Brand Development & Activation Manager, PZ Cussons, Mr Ayodeji Adewale, Regional Manager, Lagos, PZ Cussons and Mrs Carol Arhere, Public Relations Officer DV Fashion Limited, at the PZ Cussons Canoe Relaunch Activation at Ojuwoye Market Mushin Lagos. Photo: Akeem Salau

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How far do you think the president has gone in his change agenda after five months? I don’t see any improvement at all. In fact, the insecurity situation is worsening. The unemployment situation is worsening. One soft drink company recently laid off about 200 people and many companies are laying off people. So I don’t see how he is tackling unemployment. And he has not given us a blueprint on how he is going to tackle unemployment. So, I don’t see any changes. In fact, I think things are getting worse and I think this is because there is lack of a blueprint for governance. What about improvements on power supply? There is no improvement whatsoever. I have not seen it here. Right now, we are on generator, we have not had light since Friday. I was away for three weeks, and the whole of the three weeks my staff were calling me to say that they have not had light, the light did not blink once. Now, I am back, it came for two or three days and now it is off again. So, I don’t know where the improvement is. I travel very often.

•Bucknor-Akerele:Nigerians should be patient but speak up

Women empowerment:

Buhari should learn from Jonathan — Bucknor-Akerele •We are yet to see any change •Tells Buhari, APC: Unveil and implement your blueprint now FORMER Deputy Governor of Lagos State and the only female senator in the botched Third Republic, Senator Louisa Kofoworola Bucknor-Akerele is not happy with the state of affairs in the country and wants President Muhammadu Buhari and the ruling All Progressives Congress, APC, to unveil their roadmap for addressing the numerous socio-economic and political challenges the country is facing. In this interview, she also spoke among others on why the report of the 2014 National Conference must be implemented and how the flickering flames of insecurity could be extinguished.

By Clifford Ndujihe

OW do you see the state of the nation now? I see the nation in a precarious condition right now. It is very precarious because we don’t know where we are going financially. We don’t know what the programmes of the new government are in any regard whatsoever. We need to know the way forward. There is nothing worse than not knowing what is going to happen next. What do you think is responsible for that? The All Progressives Congress (APC) came into

power, they wanted power but they had not planned how they were going to use that power when they won the election. You said the nation is in a precarious condition, how do you view comments by the APC and the presidency that the PDP, your party, led us to that state after ruling the country for 16 years? I don’t think it can be true. The rot in the country started with the military. We cannot blame only the PDP. In fact, it was the military that started the rot. When we talk about corruption, what of all those military people who now have banks, farms, etc? Was any of them tried for corruption? That

is where it started and that is where impunity started because they felt and they got away with it and other people came in and felt they could get away with it too. Your comments appear to be in line with those of the APC and the presidency. Why didn’t the PDP, in 16 years, probe and prosecute the corrupt military leaders? The PDP government was in the business of trying to move the country forward and therefore they were not in a position to probe the military. Don’t forget that the first PDP government was headed by an ex-military man and they have what they call esprit de corps.

I don’t see any changes. In fact, I think things are getting worse and I think this is because there is lack of a blueprint for governance

Elevators and air conditioners Three weeks ago, the elevators and air conditioners at the Murtala Mohammed International Airport were working. Three weeks later when I came back, they were not working. What is happening? You don’t think we have made some gains fighting the Boko Haram insurgency? I don’t think so. Before the PDP government left, we had virtually fought Boko Haram to a standstill. Now, we get bombings virtually on a daily basis. What about President Buhari’s fight against corruption? The fight against corruption, as far as I can see, is selective. If the president wants us to take him seriously, he should start with those people around him because those around him in the APC that brought him to power are among some of the most corrupt people in this country and everybody knows that. Why is it only PDP members that he is bringing to trial? Why doesn’t he try those around him who are corrupt? It is only then that we can take him seriously that he is fighting corruption and not being vindictive. Some say that whether selective or not the question people should ask is are those being tried corrupt or not?

Continues on page 51

The fight against corruption, as far as I can see, is selective. If the president wants us to take him seriously about fighting corruption then he should start with those people around him

VANGUARD, MONDAY, NOVEMBER 16, 2015—51

I don’t see anything of any significance in Lagos. The traffic situation seems to become more chaotic by the day. The whole thing seems to be completely disorganised

‘We are yet to see any change' Continues from page 50 What is your take on this view? It is for the court to decide whether a person is corrupt or not. Until a person is adjudicated corrupt by the court I don’t think anybody can be labelled as corrupt. There are insecurity challenges across the country, Boko Haram in the NorthEast, Biafra struggle in the South-East and menace of Fulani herdsmen in the North- central and southern parts of the country... In the beginning I told you the country is in a precarious condition. That is part of it all. People are not safe, you are not even safe in the street. You are driving in your car, people come and smash the windows of your car and steal from you. A young girl, who sells for me, told me that when she left for home about three days ago that on the Third Mainland Bridge, people were abandoning their cars and running because armed robbers were terrorising them on the bridge.

Traffic situation This phenomenon has suddenly reared its head. It used to be there in the past but it is rampant now. You can imagine people abandoning their cars running. So far, how do you assess governance in Lagos? I don’t see anything of any significance in Lagos. The traffic situation seems to become more chaotic by the day. The whole thing seems to be completely disorganised. You don’t think Lagos is benefiting from being ruled by a party that is also ruling at the federal level, the first of its kind since the creation of the state? Lagos has not benefited from the centre more than it benefited when it was not ruled by the ruling party at the centre. I don’t see how Lagos has benefited. What is the way out of this? Like I say, Lagos is part of the APC government and I said, they came into power without any concrete plans for governance and this is what is affecting the nation today. The APC leaders must get together and draw up a plan as to how they are going to govern this country and start implementing that plan. What is your take on the agitation for Biafra by some South-East youths? When people feel that they are being marginalised you are bound to have pockets of unrest

and pockets of people wanting to secede and things like that. Government must find a way of implementing the report of the 2014 National Conference because if that report is implemented, everybody will feel they have a stake in Nigeria, everybody will feel that they can manage their affairs in their own way. As long as we have this unitary system of government, there is bound to be discontent and people wanting to secede because they feel they have been marginalised and they want to take charge of their own affairs. On the menace of Fulani herdsmen across the country especially in the South, which led some Yoruba leaders to threaten secession recently if the matter was not adequately addressed I think it is most unfortunate that in this country we allow herdsmen to be roaming all over the place destroying peoples’ farms, kidnapping, maiming, burning, taking over peoples’ villages, etc. It is most unfortunate. This is not the only cattle-rearing country in the world. Most cattle-rearing countries have ranches for their cattle. These Fulani herdsmen are coming from somewhere. Cattle ranches should be created in those places for them. Yes, they are looking for pasture. If you organise it properly, there is water underground. How do they manage in places like Texas?

Cattle ranches Even, I understand that countries like Kenya where they have a lot of cattle rearers, have organised them into cattle ranches. This is what we should be doing instead of allowing these herdsmen to be roaming all over the place. Organise cattle ranches for them in their own areas so that they don’t come into other people’s areas in search of pasture. What is your advice to the leaders of the National Assembly to check the brewing crises over headship of the various committees? The system we are operating is not a parliamentary system. It is a presidential system where both sides are supposed to be able to work together. If you have one side doing the winner-takes-all as you are bound to have in a parliamentary system, you are going to have problems. It is far better for both sides to try and work together to achieve whatever they want to achieve than for you to have an opposition and then there will be constant bickering.

•Bucknor-Akerele:Marginalization is fueling agitation for Biafra republic You were the only female senator in your set, thereafter, we have had some improvement, what is your advice to women to improve their political and electoral fortunes? Women politicians have a difficulty especially now that politics has become money game. It is not as if we didn’t need money in those days, but it is not the sort of money you need nowadays and most women don’t have that kind of money. However, women should join political parties and work in the parties for recognition because it is when you are recognised that your party can put you forward for a contest. Looking at affirmative action, how would you assess President Buhari on appointment of women into positions? That was where the Jonathan’s Administration was much better.

Affirmative action Jonathan tried to effect the 30 per cent Affirmative Action, which was decided in Beijing and which the United Nations is also supporting. Nigeria is the largest country in Africa but small countries like Tanzania, Uganda, Rwanda, Burundi are doing much better than us when it comes to affirmative action. What is holding us back? I believe what is holding us back is mostly the men in Nigeria, who do not want to give space to females. And yet they seem to forget that women form 50 per cent if not more of the population. You were in the Alliance for Democracy (AD), went to All

Peoples Party Party (APP), later National Democratic Party (NDP), United Nigeria Peoples Party, UNPP and now PDP. Where are you headed next? I have been in the PDP since 2002. I am not moving anywhere else. Then, I was looking for a platform, I am not looking for a platform now. I am an elder stateswoman, I want to work for the betterment of Nigeria. I will do it better remaining in PDP. If you look at the parties, PDP is the best. The APC is an amalgamation of strange parties, that is why they are having problems. Buhari is from the CPC (Congress for Progressive Change), he came to fight corruption.

Fighting corruption The ACN (Action Congress of Nigeria) wanted power at the centre. The ANPP (All Nigeria Peoples Party) wanted power shift to the North and so they are fighting for the spoils of power. What is the way forward for the country? The new government must get its act together. They must bring forward a roadmap and a blueprint for Nigeria. They must give a blueprint for the economy, education and all other things that make a country a country in the comity of nations. Right now we are drifting. What is your advice to Nigerians? Nigerians are very resilient people. I will ask them to be patient and also to speak up and ask this government to buck up.

Nigeria is the largest country in Africa but small countries like Tanzania, Uganda, Rwanda, Burundi are doing much better than us when it comes to affirmative action

52—VANGUARD, MONDAY, NOVEMBER 16, 2015

KOGI 2015:

2015: KOGI DECIDES

The dynamics of power NEVER in the brief but eventful political history of the state has the stake been higher. The political reality in Kogi is such that as the election day gets nearer, so are the people farther from hacking a guess as to who may carry the day on November 21.

attraction to people seeking political offices, it has become imperative to engage them on their plans for the people if and when they win elections. To this end, an NGO organized a debate to create a platform for the governorship candidates to relate their programs to the people of Kogi State. While the PDP was represented by the Deputy Governor and the running mate to Capt. Idris Wada, Arc. Abayomi Awoniyi, the All Progressives Congress was conspicuously absent. The PDP and the Progressive Peoples Alliance used the event to hit the nail on their cardinal plans if elected on November 21. It also afforded the Deputy Governor of the state the opportunity to reel out the achievements of the incumbent governor in various sectors of the economy. Another candidate who proved his mettle at the debate was the candidate of the Peoples Progressives Alliance, Mr. Emmanuel Ozigi who showed a grasp of the issues surrounding the economy of the state as it affects government/labour relations, education, agriculture, healthcare and solid minerals development. However, the absence of the candidate of the APC, Prince Abubakar Audu raised a few eyebrows as stakeholders were deprived of the opportunity of hearing from him his programmes for the people of the state if given the mandate to stir the ship of leadership for the next four years.

The Angst of the Ebira People •Audu

•Wada

By Kingsley Fanwo

AMPAIGN Intensity: With the introduction of card readers, it is becoming practically unfeasible to manipulate the process or the results. The recent upturning of results declared in March and April 2015 is ringing more caution into the ears of politicians who circumvent the law, rape the process to achieve a supposed support of an unsupportive voting population. With this in mind, the major gladiators in the Kogi governorship poll are hitting the streets to woo voters to support their governorship election. Analysts say the 2015 governorship campaign in Kogi State has witnessed a level unprecedented in the political history of the state. From Abejukolo to Idah, from Okene to Obangede, from Iyamoye to Egbe; the gladiators are leaving no stone unturned to capture the minds of the voters. Another striking feature is the emergence of campaign groups such as the Project Win With Wada, Change Agents Initiative, Ozigi in Your Hearts, Salawu Volunteers and a host of others. These campaign groups have intensified campaign in the rural areas, combing communities to ensure victory for their respective candidates. The Economics of the Campaign: Conservatively, billions of naira have been sunk into the campaign efforts of the leading candidates in the race. With a billboard averaging a hundred thousand naira, it is believed that

over a billion naira has gone into mounting billboards in strategic locations alone. Political economists also say hundreds of millions of naira have gone into consultancy. The leading aspirants in the race are said to have contracted A-grade consultants to marshal their publicity portfolios. Radio and Television advertisements have also been massive and may have absorbed the chunk of the campaign funds of the major political parties. Questions have been raised as to the source of funds going into campaigns. Unlike in the tested democracies where the citizens donate towards campaign activities, poverty, illiteracy and misguided value have combined to make our democracy a costly adventure. The Governorship Debate: Beyond the naira and kobo

The PDP may benefit from the seeming angst against the APC. The PDP structure in Kogi Central may reap from the split in the opposition APC

Kogi Guber: Women's group urges workers to reject PDP By Chris Ochayi

HE Confluence Women Mandate, CWM, has appealed to civil servants in Kogi State to maximize the opportunity offered by this Saturday’s election to free themselves from the clutches of poverty as fashioned by the PDP. The group, therefore, urged workers in the state to troop out en-mass and vote for the APC candidate, Prince Abubakar Audu, arguing that terminating PDP rule is the only panacea to the deluge of problems confronting the

state. Coordinator of CWM, Hajia Asabe Nuhu, who spoke in an interview in Abuja yesterday, said that the suffering workers can make a choice between remaining in perpetual poverty or liberating themselves. Nuhu, who was visibly angry at the plight of the workers and the general situation in the state, said apart from workers’ dilemma “as mothers, we are saddened with the precarious future of our children who are roaming the streets without jobs in the state.”

Hajia Nuhu argued that Audu has done it before, adding, “we are convinced that he is ready to do much more, especially in the area of creating employment opportunities for our children. We are tired of watching them idling away.” “If during his last tenure, the administration initiated the multi-trillion naira Obajana Cement Factory with the Dangote groups, we are confident that Audu’s coming back will foster establishment of cluster of industries within the three Senatorial districts,” she said.

The Ebira people of Kogi Central are the real game changers in the forthcoming governorship election. Many had thought 2015 was the year of the Ebira people with the emergence of Alh. Yahaya Bello as a political force in the run up to the governorship election, but with divisions among the ethnic minorities within APC, Prince Abubakar Audu emerged as the candidate of the party with a burst of controversies. Bello’s refusal to openly support Audu, signposts dangers for the APC in Kogi Central. The PDP may benefit from the seeming angst against the APC. The PDP structure in Kogi Central may reap from the split in the opposition APC. But if the Kogi Central people follow the trend of 2003, they may choose between Emmanuel Enesi Ozigi of the PPA and Philip Omeiza Salawu of the Labour Party. Can the Incumbency Factor Fly? In Nigeria, incumbency constitutes a big factor in determining political contest. The governor of the state, Capt. Wada who is contesting on the platform of the PDP is expected to deploy incumbency towards achieving electoral success. With the retinue of appointees at his disposal, the governor is expected to spring some advantages to his favour. It is however unclear if the pull of the centre would not work against the incumbency at the state level. The Buhari reforms and the discipline of the men around him may come to test in the Kogi governorship election as the national leader of the party, Asiwaju Bola Ahmed Tinubu is believed to be rooting for his political godson, James Abiodun Faleke.

PDP will win bailout or no bailout By Boluwaji Obahopo

HE Director General of the PDP Governorship campaign, Senator Tunde Ogbeha has vowed that the PDP would win the election irrespective of the release of the bailout fund meant to offset workers’ salaries. Ogbeha said this in an interview with newsmen in Lokoja just as he took a swipe at the attitude of the APC, towards the poll saying the opposition party in

the state is not ready for a peaceful poll. “It is unfortunate that the federal government allowed themselves to be used against the release of the bailout fund to the state. The level of misinformation and misgivings by the APC about the fund is bad. The bailout is not a gift but a loan to the state. “However, I’m optimistic that with or without the bailout, PDP will win Kogi.” He also denied the insinuation that the party may not be

committed to power shift if re-elected, said the National Working Committee of the party have already keyed into the struggle. “Aside the NWC, the only reason why I accepted the DG campaign is because of the issue of power shift. Wada has not only supported it, he has put it in his manifesto. By 100 days after he must have been sworn in, a committee for that effect will be inaugurated to work out the modality”.

Vanguard, MONIDAY, NOVEMBER 16 , 2015 — 53

Illegality of stay of proceedings in FRN v Saraki

By Femi Falana

N May 13, 2015, President Goodluck Jonathan signed the Administration of Criminal Justice Bill into law. Both chambers of the National Assembly had passed the bill to modernise our criminal justice system. In particular, the law has abolished stay of proceedings and interlocutory appeals by merging all preliminary objections with the substantive case in any criminal case instituted in a federal court in the country. The revolutionary intervention of the law was occasioned by the unending trial of politically exposed persons in corruption cases. In fact, the last straw that broke the carmel’s back was the case of Mohammed Abacha v FRN which had been stalled for 12 years on account of the preliminary objections raised and argued from the high court to the apex court by the defence counsel, Mr. J. B. Daudu SAN. At the end of the Isralite’s journey the Supreme Court ordered that the trial be commenced de novo at the Federal Capital Territory high court. Having been completely frustrated in the circumstance, the federal government was compelled to discontinue Mr. Abacha’s corruption charge of N664 billion under the pretext that the case would be “amicably” resolved!

FEMI F ALAN A, SAN FALAN ALANA, Before then, the Lagos State government had been forced to abolish stay of proceedings in criminal trials following the prosecution of Major Hamza Al Mustapha over the murder of Mrs Kudirat Abiola. The trial had lasted 13 years on account of several preliminary objections and interlocutory appeals which were pursued from the High Court to the Supreme Court. Contrary to the misleading view of many senior lawyers that the abolition of stay of proceedings in criminal trials is illegal it has been judicially decided that statutes which oust the jurisdiction of courts to stay proceedings are constitutionally valid. In FRN v Nwude (2006) 2 EFCCLR 149 at 161 it was held by Oyewole J. (as he then was) that section 40 of the Economic and Financial Crimes Act, 2004 which abolished stay of proceedings is not an infraction C M Y K

of the powers of the court. According to his lordship,”inherent powers of the court only come into play in the absence of express statutory provisions and the court then fills in thr gap by invoking its inherent powers to do justice in a given case....the intention of the legislature in this instance is to remove impediments in the way of the adminstration of justice.” Similarly, in Ajiboye v FRN (2013) 17 WRN 127 at 145 the Court of Appeal (per Ogbuniya JCA) struck out the application for stay of proceedings on the ground that it was incompetent “in the face of the sacrosant prescription of section 40 of the Act which clearly ousted the jurisdiction of the court over it.” It is trite law that jurisdiction oxygenetes all proceedings in our courts. Accordingly, the exercise of judicial powers by any court without jurisdiction is bound to end in a nullity, regardless of the industry invested in it.

Exercise of judicial powers With the enactment of the AJCA, the supension of criminal cases by all accused persons has been effectively stopped in Nigeria. Therefore, any judge who orders a stay of proceedings in any criminal trial does so illegally and is liable to be sanctioned by the National Judicial Council. It is unfathomable that the Supreme Court decided to return the country to the status quo ante. In view of the ouster clause contained in section 306 of the AJCA, the Code of Conduct Tribunal ought not to have delivered its ruling in respect of the preliminary objections filed by Dr. Saraki. The ruling should have been read together with the judgment after the conclusion of the trial. It was the premature ruling of the Tribunal which led to the filing of an interlocutory appeal in the matter. Instead of declining jurisdiction to entertain the interlocutory appeal which has been abolished by the AJCA, the Court of Appeal ordered a suspension of the trial at the Code of Conduct Tribunal to await its decision. Although the Court of Appeal eventually dismissed the appeal the trial of the substantive case at the Code of Conduct Tribunal has been further halted by the Supreme Court which has granted another stay of proceedings pending the hearing of the interlocutory appeal filed before it by the accused person. However, it is sad to note that in granting the order of stay of proceedings in the case the apex

Senate president Bukola Saraki

Map of Nigeria court ignored the provisions of sections 306 and 396 of the Administration of Criminal Justice Act, 2015 . It was not a case of oversight or lack of knowledge of the existence of the AJCA on the part of the Court but a deliberate judicial decision to turn back the hand of the clock in the ongoing battle against corruption and impunity in the land. Curiously, some senior lawyers have endorsed the blatant violation of the law in the matter. I am disturbed that a progressive lawyer like Emeka Ngige, SAN, was reported to have justified the illegality of the order of stay of proceedings. No doubt, the prosecution and the defence counsel who are Senior Advocates of Nigeria cannot be exonerated in the mockery of the criminal justice system. By arguing preliminary objections which have been merged with the substantive case the senior counsel involved in the diversionary legal rigmarole overlooked the relevant provisions of the AJCA. Similarly, the members of the Code of Conduct Tribunal and the

Justices of the Appeal Court did not advert their minds to the combined effect of sections 306 and 396 of the AJCA. In any case, one had expected the learned Justices of the Supreme Court to correct the litany of legal errors committed at the lower courts. But the errors were endorsed as the apex court decided to halt the trial without any legal justification whatsoever. The counsel to the federal government, Mr. Rotimi Jacobs, SAN, was even boxed to a corner by the Court to the extent that he had to undertake not to proceed with the trial at the Code of Conduct Trubunal pending the determination of the interlocutory appeal! As a creation of the law the Supreme Court is bound by the law. So are the Justices of the Court. In Joseph Amashoma v The State (2011) 14 NWLR (pt 1268) 530, the honourable Justice John Fabiyi held that “The appellant’s counsel should be reminded of the doctrine of Separation of Powers as enshrined in the 1999 Constitution.

Separation of powers

Since the ruling is binding on all other courts in line with the hallowed principle of stare decisis the Supreme Court should take advantage of the substantive appeal in the Saraki’s case to review its position with a view to confirming the abolition of stay of proceedings by section 306 of the AJCA

The Legislature is to enact law while it is the duty of the Judiciary to interpret the law as enacted....There is no escape route.” In the instant case, there was no escape route. Yet, the Supreme Court discountenanced the tenet of separation of powers by the deliberate refusal to limit itself to the interpretation of the relevant provisions of the AJCA. As the inherent powers of a Court cannot be invoked to supersede the extant provisions of a valid and subsisting legislation the Supreme Court ought to be challenged to justify the purported annulment of the clear and unambiguous provisions of the AJCA. With profound respect to the reverred members of the panel of the Court the order of stay of proceedings granted by them last week flies in the face of section 306 of the

Administration of Criminal Justice Act, 2015 which provides that “An application for stay of proceedings in respect of a criminal matter before the court shall not be entertained.” Indeed, ex abundanti cautela, section 396 thereof further provides that all preliminary objections “shall be considered along with the substantive issues and a ruling shall thereon be made at the time of the delivery of judgment.” Apart from abolishing stay of proceedings the AJCA has effectively banned interlocutory appeals in criminal trials. Therefore, the controversial ruling of the Supreme Court should not be allowed to stand because of its far-reaching implications and negative impact on the administration of criminal justice in the country.

Criminal justice Since the ruling is binding on all other courts in line with the hallowed principle of stare decisis the Supreme Court should take advantage of the substantive appeal in the Saraki’s case to review its position with a view to confirming the abolition of stay of proceedings by section 306 of the AJCA. This clarification should be made, as soon as possible, in line with the letter and spirit of the AJCA. Otherwise, every accused person will continue to file interlocutory appeals and proceed to ask for stay of proceedings pending the determination of such appeals. The application will have to be granted as the hands of either the trial court or the Court of Appeal would have been tied by the erroneous decision of the Supreme Court in the case of Saraki v FRN. The apex court is advised to distance itself from the antics of the influential agents of impunity in the legal profession who have resolved to frustrate the trial of corruption cases by filing cumbrous motions and frivolous preliminary objections designed to shield members of the ruling class from prosecution. Our judges should realise that the inglorious era of engaging in dilatory tactics in criminal trials by defence counsel has been consigned to the dustbin of history.

54 — Vanguard, MONIDAY, NOVEMBER 16 , 2015

Atlantic rebounds on repayment plan By Kehinde Bamigbetan

Leave the Ijaw alone

By Dele Cole

ECENTLY two Ijaw citizens have come under the light of the agents charged with corruption - Mrs. Deziani Allison-Madukwe, and Chief D. S. P Alamieyesiegha. One was arrested in London plushest address at 1 Park Lane, another one was being sought out by the British police to answer charges of money laundering. This piece in no way condones their alleged corrupt practices and no one should read it as such. For the benefit of doubt Mrs. Deziani Allison-Madueke was charged for corruption; the NNPC over which she presided was the Sodom and Gomorrah of corruption and the stories about how allegedly corrupt NNPC was a legion. As for Governor DSP Alamieyesiegha, he ran away from Nigeria to undergo a tummy tuck operation in Germany, when the warrant for his arrest was issued in Dubai, he ran to London

PATRICK DELE COLE where he was thoroughly watched by the Secret Services of Britain. He left London, according to some sources, with the active connivance of the British authorities, for Cote d'Ivoire en route to Nigeria. On arrival to Nigeria he was promptly arrested by EFCC. But he spent several months in the hospital in Lagos and Abuja before he was released. A couple of years later he was pardoned by President Goodluck Jonathan. About a forthnight ago he was said to be wanted by the British authorities for money laundering. He has not been enjoying good health, although the incessant and unrelenting pursuit by the British and other authorities could not have improved his health. He died soon after. Let’s go back to the antecedent of Alamieyesiegha’s impeachment. A good precedent in law is that, although an enthusiastic officer may pursue a case with all due diligence, he may not do so while breaking the law. Alamieyesiegha's impeachment was a travesty of the Nigeria constitution. He may have been a thief but the law demands proof in a proper court by the prosecution that the culprit is indeed guilty. The C M Y K

impeachment provision in our constitution is antithetical to that very constitution w h i c h guarantees to e v e r y individual the right of justice. D S P Alamieyesiegha was dragooned i n t o President Muhammadu Buhari impeachment by over zealous EFCC members, on the charges preferred against him order of higher authorities. There have been published. None of are 24 members of the Bayelsa this was done in Bayelsa. Mr. State House of Assembly. The Goodluck was the Deputy EFCC simply picked up all of Governor and he saw all these them and asked them to account illegalities yet he accepted them for the one billion Naira so that he may be Governor. constituency project they signed When he became President he for, they were all locked up at 15 attempted to right a palpable Awolowo Road and asked to sign wrong. He granted Governor a declaration condemning the Alamieyesiegha a pardon. The government or explain a one impeachment of Alamieyesiegha billion naira constituency took all of seven hours from when project each received. the assembly men came back to This declaration formed Bayelsa. Does this mean that the the basis of the Governor was not corrupt? Not impeachment, which at all. But it does mean that our lasted eight hours from Law enforcement agencies when they returned, to cannot in the pursuit of a Yenagoa in Bayelsa. The particular case commit a plethora House formed a of offence and get away with committee to impeach, them. asked the Chief Judge to draw up charges and set Waste of time up an impeachment and money tribunal which reported to the Chief Judge who Most Nigerians have a rubber stamped this simplistic view of matters such as kangaroo court. this: but the man was corrupt, Our constitution etc., he should be in jail. Should although is a legal document, is this be the case then for all the written in simple English which governors, presidents, vice could be understood even by the president we have ever had? near illiterate. Can impeachment The case against Alamieyesiegha proceed if it does ask for a wasn’t proved and can never be committee to draw up the proved since he is now dead. charges, it does ask for the Many people would be puzzled intervention of the chief judge as to my stand in this issue. but it further asks, as is normal Clearly they would say in other cases, for the accused to Alamieyesiegha was guilty of be informed of the charges corruption. Why waste against him on both occasions government’s time and money to and more importantly that the prove the clearly evident? You do accused must be given a right of it because it’s the basis of reply within 21days after the Democracy- a man is free,

Alamieyesiegha was hounded to death because he was a minority. Deziani’s case is more difficult to defend because so far it is going according to Law

innocent until proven guilty. Alamieyesiegha was one of 36 thriving governors, one of thousands thieving politicians; his death in no way or reduces the culpability of the others. Alamieyesiegha was hounded to death because he was a minority. Deziani’s case is more difficult to defend because so far it is going according to Law. Many Ijaws have complained about her implacable hatred of her fellow ethnic comperes; that her shadow fell far away from the Ijaws: her favour went to many non Ijaws all of whom are lining up to put bigger nails on her coffin. To be concluded *Dr. Cole, a former ambassador, wrote from Lagos.

HE stage is set for the country ’s foremost indigenous drilling company, Altantic Drilling Energy Concepts Nigeria Limited, to get back on course, thanks to the recent submission of its plan to settle outstanding commitments to its financial and production partners to the authorities. Atlantic has been the victim of the shark-infested industry where cut-throat competition for billions of oil dollars turn friends to foe and everyone lives by the rule that the end justifies the means. Its Nigerian promoters had responded to the nation’s clamour for more indigenous participation in the oil industry dominated since 1937 when the first crude oil deposit was found by foreign multinationals. Such was the excitement of the oil regulators that a few Nigerians could muster the courage to take on the foreigners that it did everything possible to make its entry into the big league successful.

Strategic alliance Incorporated as Atlantic Drilling Energy Concept Limited on July 19, 2010, it asserted its Nigerian character when, in October 2011, it became Atlantic Drilling Energy Concepts Nigeria Limited giving it stronger muscle to execute the Strategic Alliance Agreement it signed with the Nigeria Petroleum Development Company, NPDC six months earlier. Under the agreement, Atlantic took charge of four oil blocks- OML 26 FHN, OML 30 Shoreline, OML 34 Niger-Delta Oil and OML 42 Neconde. It was to provide funds,technical services, drill and sell crude oil. To demonstrate seriousness, it launched a massive search for the best brains in the industry poaching the key personnel of its indigenous and foreign competitors. Its industry rivals watched, in amazement, how the young company rode through the business like a tornado connecting the big influencers with ease and converting leads to business. They believed there was one hurdle Atlantic would find difficult to scale: finance. But Atlantic’s goal-getting team had it all fixed. First, it secured $490 million from the First Bank and while the industry was abuzz with the feat, landed another facility of $120 million with SkyeBank. This enhanced capacity further strengthened the petroleum authorities’ confidence in the company. The evidence: a fresh Strategic Alliance Agreement that gave Atlantic four additional oil blocs- OML 60, OML 61, OML 62 and OML 63. Predictably, the fresh deals made its rivals green with envy. Their first offensive was in line with the saying: if you can’t beat

them, join them. A key industry rival proposed a deal to take two of Atlantic’s eight operating licenses offering mouthwatering bucks. The transaction could not work because Atlantic, relying on market intelligence, saw through the plan to weaken its position in the sector. Frustrated that it could not neutralize Atlantic’s competitive advantage, industry rivals waited for the opportunity to revenge. That chance came with the change of government and the ascension of the All Progressives Congress administration following the 2015 presidential elections. Exploiting the new administration’s passion against corruption, industry rivals, baying for blood, sought to set the new government against Atlantic by misrepresenting its transactions as unethical and fraudulent. For instance, considering the multi-billion dollar financing of crude oil production business, no company ever has all the money to pay down commitments as at when due. The tradition is to raise counterpart funding through loans from commercial banks, then pay as crude oil produced is sold.

Stringent conditions The commercial banks have, over time, developed stringent conditions to block bad loans. The fact that the Central Bank of Nigeria supervises their operations and penalizes violations have taught banks to ensure due diligence in granting loans. The establishment of Assets Management Company of Nigeria, AMCON to take over failed institutions is a sword of Damocles hanging over any bank that got broke. So they have learnt to make sure that the customers have the capacity to repay commitments. For Atlantic to succeed in raising such huge amount as $490 million from century-old First Bank and another $120million from the financial behemoth called Skye Bank, finance and petroleum sector operators know the company must have passed the stiff integrity test. Recently, Oando Energy Resources announced that it had repaid $100 million loan it took from African Export-import Bank, AFREXIM to finance the acquisition of the ConocoPhillips Nigerian Oil and gas business in July 2014. Declaring that its net debt position now stands at $500 million, Chief Executive Officer Pade Durotoye said: “ The upsizing of the RBL loan is a true testament to the quality of the assets we acquired in July 2014. The cash flows from these Continues on page 59

Vanguard, MONDAY, NOVEMBER 16, 2015 — 55

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VANGUARD, MONDAY, NOVEMBER 16, 2015—57

PARIS ATTACKS:

France identifies one attacker, as G20 vows to eliminate ISIS •Wanted notice of suspect issued

speaking on a debate stage in Iowa, said “it cannot be an American fight” and called on Turkey and the Gulf states to do more. But rival Martin O’Malley disagreed and said the US had to “stand up to evil” and lead from the front. The attacks killed 129 people and injured hundreds in the French capital. Hours after the near-

simultaneous attacks on Friday, CBS News vowed to shift the focus of the debate to put more emphasis on counterterrorism and foreign policy. A moment’s silence was observed in Des Moines before the debate began, and the three candidates expressed their condolences to the French people. But then they clashed over the rise of IS, which

has claimed responsibility for the atrocities. Mrs Clinton, the former secretary of state, was challenged by Vermont Senator Bernie Sanders for backing the Iraq War, which he says led to the rise of the militants. She disagreed, saying US foreign policy did not have the “bulk of responsibility” for the instability in the region, pointing instead to Syrian President Bashar alAssad and Iraq’s former leader, Nouri al-Malaki. .

G20 leaders yesterday in Turkey at a summit, where they vowed to eliminate ISIS following Friday's terrorist attacks in Paris.

RENCH Police have identified one of the attackers in the coordinated terrorist attacks which left no fewer than 129 people dead in Paris, as manhunt for a suspect, who may have escape has commenced. It also issued a wanted notice with a photo of a man suspected in the Paris attacks. The notice, released yesterday evening, is for Salah Abdeslam, a 26year-old man born in Brussels. He is one of three brothers believed to be involved in the killings; one was arrested in Belgium and another died in the attack, the first official said. The first to be identified was named as Ismael Omar Mostefai, a 29-yearold who lived in the city of Chartres, southwest of Paris. French media said he was French-born and of Algerian descent. Molins said the man had a security file for Islamist radicalization, adding that he had a criminal record but had never spent time in jail. He was identified through tests on his severed finger. A judicial source said Mostefai’s father and brother had been taken in for questioning, along with other people believed to be close to him.. Belgian prosecutors said two of the gunmen were French nationals who had been living in Brussels. They also said they had arrested seven people in the Belgian capital. Police C M Y K

staged raids on Saturday in Molenbeek, a poor, immigrant quarter. This came as the attacks took the centrestage at theG20 Summit on Sunday with Prime Minister Narendra Modi calling for a united global effort to combat terrorism as world leaders joined a clarion call to eliminate ISIS network. “Today, we meet in the tragic shadow of dreadful acts of terrorism. Combating it must be major priority for G20,” Modi said at the G20 Summit of leaders from the world’s top-20 economies. As the two-day Summit began in this Turkish coastal resort town, the US President Barack Obama vowed to stand with France in hunting down the perpetrators of Paris attacks and said, “The killing of innocent people based on a twisted ideology is an attack not just on France, not just on Turkey but it is an attack on the civilised world.” He also vowed to “ redouble” efforts to “eliminate” the ISIS jihadist network, as the gruesome Paris attacks and the war in Syria overshadowed the Summit. Modi also participated in a meeting of BRICS leaders on sidelines of G20 Summit and condemned the dreadful acts of terrorism in Paris. “The entire humanity must stand together as one against terrorism. The need for a united global effort to combat terrorism has never been more urgent. This must also be

a priority for BRICS nations,” he said. The declaration on terror, separate from the main Summit declaration, may seek quicker implementation of the Financial Action Task Force, which involves stopping individuals sending money to groups like Islamic State and tackling the black market for oil that’s key to its funding. It would also talk about plans to prevent terrorists from exploiting t e c h n o l o g y , communications and resources to incite terrorism acts, including through the Internet. UN Secretary General Ban Ki-moon said he will soon submit to the UN General Assembly a comprehensive plan to deal with violent extremism and terrorism. On the sidelines, US President Obama met world leaders including Turkish President Recep Tayyip Erdogan and said the G20 Summit is traditionally a forum to discuss economic issues facing the globe “but the skies have been darkened by horrific attacks that took place in Paris just a day and half ago.”

•••Democratic hopefuls clash over how to deal with ISIS

HE Democratic presidential hopefuls have clashed over how to deal with militant group Islamic State, in the wake of deadly terror attacks in Paris. Hillary Clinton,

A photo released by the French police yesterday evening showing one of the attackers, Abdeslam Salah wanted in connection with the terrorist attacks in Paris.

US air strike kills ISIS head in Libya

US air strike has targeted the leader of the Islamic State (IS) group in Libya and probably killed him, the Pentagon says. Iraqi national Abu Nabil, also known as Wissam Najm Abd Zayd alZubaydi, was a “long-time al-Qaeda operative”, it said. The strike took place on Friday and targeted a compound in Derna. The Pentagon said the strike showed that it would go after IS leaders “wherever they operate”. News agencies have quoted US officials saying they are confident Nabil was killed. “Nabil’s death will degrade Isil’s ability to meet the group’s objectives in Libya, including recruiting new Isil members, establishing bases in Libya, and planning external attacks on the United States,”

Pentagon spokesman Peter Cook said, using a different name for the group. He said the operation had been authorised before terrorist attacks in Paris on Friday evening that IS claimed

responsibility for. Cook added that Nabil may have been the IS spokesman pictured in a February 2015 video showing the apparent murder of Coptic Christians in Libya.

Miners sue S/Africa’s Deputy President over 2012 strike

INERS injured and arrested during a 2012 strike in which at least 44 people were killed, most of them by police, are suing South Africa’s deputy president, their lawyer said. The 330 miners are suing Deputy President Cyril Ramaphosa for 1 billion rand (about $70 million), said their lawyer Andries Nkome. Ramaphosa’s characterization of the wage strike as a criminal act rather than a labor dispute contributed to police shooting the miners, he said.

“We believe that he should be held responsible,” Nkome told The Associated Press. The suing miners asked lawyers to review the findings of a governmentappointed commission that exonerated Ramaphosa, who was a non-executive director and shareholder of the Lonmin platinum mine at the time, Nkome said. A police operation during the strike led to the shooting of 112 miners, killing 34 on Aug. 16 2012. At least 10 more people died in the weeks before, including policemen and security guards.

58—Vanguard, MONIDAY, NOVEMBER 16 , 2015

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Atlantic rebounds on repayment plan

Continues from page 54 assets have continued to pay down the company’s post-acquisition debt with the assistance of the value realised from the resetting of our hedge instruments”. Durotoye spoke as the capital market spun into furore over Oando results for year 2014 as analysts raised hues over its provision for debts. But in the case of Atlantic Energy, all this logic flew out of the window once industry rivals hit the streets with malicious calumny polluting the press in tune with the African proverb, if the rat can’t get to eat the corn, it would rather waste it. Led to believe it was fighting the cause of corruption and state swindle, sections of the press went to town with the tale that Atlantic’s success was the result of shady deals. None bothered to read between the lines why banks being owed preferred to reconcile the debts than resort to litigation. Few looked beyond their noses to ask why certain industry rivals were keen to misinform on the transactions of their fellow corporate player rather than confess to the integrity of their own operations. Few asked why players turned into oil sector regulators and auditors reporting on the transactions of Atlantic Energy.

Emergent story of Atlantic The revered statesman of Nigeria’s independence era, Obafemi Awolowo, once said that lies may travel a long distance, but truth catches up with it in seconds. So is the emergent story of Atlantic. Once vilified and libeled, the porous fabrications of fraud and sleaze are disappearing as the country’s helmsmen discover that the transactions were not abnormal and that the media trial was a rape by industry gangs. Following several interactions, the authorities recently gave the company the nod to present the repayment plan for commitments to the NPDC and the financial institutions. At last, relief has come to workers and production partners as both can see through the dark tunnel of corporate wars. But students of corporate competition and industry players should learn a lesson from the travails of Atlantic Energy: turbulence is the name of the game at the top. Bamigbetan is a special adviser to the Lagos State governor

60 — Vanguard, MONDAY, NOVEMBER 16, 2015

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Vanguard, MONDAY, NOVEMBER 16, 2015—61

Siasia drops Enyimba Stars for indiscipline N

IGERIA U23 team coach Samson Siasia has wielded th e big stick by dropping Kingsley Sokari, Nzube Anaezemba and Daniel Etor for what he termed indiscipline. The Netherlands 2005 FIFA U20 silver-winning coach said the players were sent packing after they requested to leave the camp to go for their club’s (Enyimba) last NPFL game of the season against Sunshine Stars in Lagos, even after he (Siasia) had told all the players they could not leave camp. “I feel bad in taking

this decision, but discipline must be maintained for us to achieve success in Senegal,” he said. “All players in camp were told not to leave camp as the team would be traveling this weekend to The Gambia for pre –Championship training, only for these three players to come and ask to be allowed to go play for their club as they wanted to be part of the victory parade. I had no option but to allow them leave and also in the process, leave them out of the team.”

•Rabiu

away from the guard after he was frisked and detonated his vest moments later. Investigators admitted that all of the terrorists wore identical explosive vests. The Wall Street Journal spoke to one of the security team on duty at the stadium named only as Zouheir. He said that one of his colleagues turned the terrorist away after frisking the suspect, who is believed to have had a match ticket. The first terrorist was part

of a team of three who it is feared wanted to access the stadium before detonating their explosive vests causing mass casualties. Less than three minutes after the first attacker exploded, a second detonated his identical vest. A third made his way to a nearby McDonalds restaurant before blowing himself up. French authorities said one civilian was killed in those three bombings. Paris Prosecutor Francois Molins released some of the

CHAN Continues from BP stage draw was conducted on Sunday evening. The draw was held at the Serena Hotel in Rwanda’s capital city Kigali and saw the home side handed an automatic seeded place in Group A and placed along with Ivory Coast, Gabon and Morocco. Group B consists of DR Congo, Angola, Cameroon

and Ethiopia, while Group C features Tunisia, Nigeria, Niger and Guinea. The final Group D is made up of Zimbabwe, Mali, Uganda, Zambia. The 2016 CHAN tournament begins on January 16 and will conclude on February 7. The CHAN tournament is open only to players who play their club football on the African continent.

Enyimba

Continues from BP nied by the brilliant Femi Thomas, before Dare Olorundare’s shot crashed against the post soon after. At the other end of the pitch, Kunle Odunlami almost conceded an own goal but luckily for him, his deflected off came off the post. In the 43rd minute, Mfon Udoh saw his shot come off the crossbar with goalkeeper Shuaibu John well beaten. Three minutes after the restart, the Sunshine shot stopper denied Ifeanyi C M Y K

George when he came face-to-face with him. In the 61st minute Emmanuel Sunday’s effort was pushed away for a corner by Enyimba goalkeeper Thomas. Eight minutes later, Dare Ojo’s shot from distance was pushed away for another Sunshine corner. Sunshine came close on several other occasions but they again fell short to get on the scoreboard. In stoppage time, Adeniji’s free kick was kept out by Enyimba goalkeeper.

HARKS have been relegated from the Nigeria Professional Football League (NPFL) to the Nigeria National League (NNL) on the last day of the season. Sharks have now joined Bayelsa United, Taraba and Kwara United to the NNL. The coach Festus Allen-led team battled hard but lost 1-0 at Abia Warriors to end the season on 17th position with 45 points from 38 games. Super sub Olaha Michael sent Sharks down with his strike in the 81st minute from close range to end the Port Harcourt side’s hope. Sharks goalkeeper

Henry Ayodele saved Ibe Okoro’s penalty kick in the 62nd minute after Awala Moses was fouled in the box. Adeleke Olusola failed to score for Sharks twice in the 10th and 11th minutes. Christian Pyagbara was thorn in flesh of the Abia Warriors defenders but nothing came out of his endeavour.

•Festus Allen

Sihlangu promises to attack

Suicide bomber Continues from BP

Sharks relegated!

preliminary findings of the investigation. He told a press conference: ‘We can say at this stage of the investigation there was probably three coordinated teams of terrorists behind this barbaric act.’ He also confirmed that French authorities had a security file for Islamist radicalisation on one of the attackers, who also had a criminal record, but had never spent time in jail. He added that a person who had hired one of the cars used in the attacks was stopped at the Belgian border. All of the suicide attackers wore identical explosive vests during the six separate at

HE Senior National Team of Swaziland, nicknamed Sihlangu Somnikati, insists it will go on the offensive when the referee’s whistle sounds for kick –off of Tuesday’s 2018 FIFA World Cup

qualifier against the Super Eagles of Nigeria. Namibian official Jackson Pavaza will be the referee for the game that will hold at the 40,000 –capacity Adokiye Amiesiamaka Stadium, Port Harcourt. On arrival in Port

Cavani Continues from BP said he has concerns about returning to his club following the attacks that shook Paris and claimed 129 lives. And according to Cavani’s Uruguay teammate Alvaro Gonzales, the PSG attacker would ‘rather not’ return to France after

international duty. Speaking to French newspaper L’Equipe ahead of Uruguay’s World Cup qualifier with Chile on Tuesday, Gonzales said: ‘This is horrible, for football and for the city. ‘They spoke of the fact that David Luiz would not return to Paris and Edinson said he would rather not

plane crash, Continues from BP and the pilot had to make a quick return. Contacted yesterday, spokesman for Arik Air, Banji Ola said that the lives of the passengers were never in danger as there was no emergency as the aircraft did not lose an engine. ‘’There was no emergency at all and the lives of the passengers were never in danger. The pilot was in total control and they had to change an aircraft as part of our safety procedures’’, he said. However, ARIK provided another aircraft that flew the delegation to The Gambia through Dakar. Before departing the shores of the country yesterday, NFF 2nd Vice President/LMC chairman, Shehu Dikko, charged the players and their officials to do the nationl proud at the Africa U-23 Cup of

Harcourt on Sunday morning, Sihlangu’s Coach, Harries Bulunga, reiterated the position he held after the first leg in Lobamba on Friday. “We held our own very well in the first leg and we will go for broke on Tuesday.”

Nations, where Africa’s flagbearers to the men’s football tournament of next year ’s Olympics will emerge. Pledging that the NFF would ensure a comfortable stay for the team in The Gambia and the championship in Senegal, Dikko charged the team to put Nigeria first and ensure qualification for the Olympics taking place in Rio de Janeiro, Brazil ext year summer. “Some of the challenges you guys are facing now is as a result of some changes in the financial regulations in the country, but in a little time, we will be able to resolve all that and your welfare and comfort will be priority.” Although he regretted that many of the players from the NPFL would not be taking part in the last games of the season, Dikko urged them to consider it

as part of the sacrifice they haves to make for the nation. “In times like this, all of us must make sacrifices, I know most of you here would love to play for your clubs, but the reality is that it will not be possible as this is national duty you guys are involved in and as such we must put the nation first.” Responding, Coach Samson Siasia thanked the NFF for sending a top member of the executive to se e the team off, assuring that they would not be deterred by any difficulty they are going through right now, and that the team is poised to pick an Olympic ticket for the country. FIFA U-17 World Cup record goalscorer, Victor Osihmen, who was invited alongside three of his victorious team -mates, joined up with the U-23 team to The Gambia.

have to go either.’ Luiz, on international duty with Brazil, is scheduled to head back in Europe after his country’s World Cup qualifier against Peru on Tuesday. But the £50million defender who signed from Chelsea has fears over the safety of his family and friends in Paris. Luiz, 28, was sent off in the late stages of Brazil’s 1-1 draw with Argentina on Friday night, having stood for a minute’s silence devoted to the Paris catastrophe before kick-off. ‘I have my girlfriend and some family and friends in Paris,’ Luiz said. ‘They were all very sad and scared. I don’t know what I’m going to do and whether I will head back [to Paris].’ ‘Playing for PSG is my job but if it were up to me than I would not go back.’ There has been talk that Luiz would leave the Brazil camp with a suspension hanging over his head but he added: ‘Playing for PSG is my job but if it were up to me than I would not go back,’ Gazzetta World reported. Luiz does not have children but lives with his long-term Portuguese girlfriend Sara Madeira and is very close to his mother Regina Celia, who was invited on laps of honour during his time at Stamford Bridge.

62 —Vanguard, MONDAY, NOVEMBER 16, 2015

Euro 2016 to go ahead despite terror attacks T

HE head of the orga nising committee for Euro 2016 has promised France will take the “necessary decisions” to ensure next summer ’s tournament takes place in safety. Jacques Lambert made the pledge in the wake of Friday’s terror attacks in Paris, where 129 people were killed and hundreds more injured during a series of incidents across the French capital. He told French broadcaster RTL: “To ask questions about the cancellation of Euro 2016 is to play into the hands of the terrorists. “The risk level was up a notch in January, and it just got up a notch. “We will take the necessary decisions for Euro 2016 to take place in the best safety conditions. I will not reveal what we are going to do because that would alert our opponents.”

•PANIC...Fans on the Stade de France Stadium during last week's friendly between France and Germany

HE referee who took charge of France’s friendly against Germany on Friday evening has opened up about the ‘tough, troubling’ events that unfolded. Match official Antonio Mateu Lahoz has admit-

•Bolasise (r) of Congo OROCCO and Congo are the third and fourth teams through to the group stages of the 2018 World Cup qualifiers for Africa. Morocco lost 1-0 in Equatorial Guinea yesterday but still progress after a 2-0 victory in their home leg. Rui scored the winner for Equatorial Guinea but Youssef El Arabi and Yacine Bammou goals in the home leg ensured a 2-1 aggregate victory. Congo edged Burundi 5-4 on aggregate after a 2-2 home draw.. They had won their away leg 3-2 as Ndombe Mubele scored a brace. In the second leg Michael Jordan N’Kololo opened the scoring before Dieumerci Mbokani put through his own net to make it 1-1. C M Y K

LL 23 members of the France squad, including Lassana Diarra and Antoine Griezmann — will fly to England for Tuesday’s friendly at Wembley, an official from the French football federation has said. Diarra’s cousin Asta Diakite was one of the 129 people who died in the Paris terror attacks on Friday night. Griezmann’s sister, meanwhile, managed to escape the mass killing at the Bataclan theatre, where 89 people died after it was stormed by armed terrorists.

I didn’t know about explosions—Paris Ref T

World Cup: Morocco, Congo progress

Full France squad travel for England friendly

ted he didn’t know what was going on until he left the field at full time. “We had no idea about what was going on until after the game had ended,” the 38-year-old told Spanish outlet AS. “We have all been through some very difficult moments, moments of great uncertainty because, at first, we were told that we were not allowed to leave the stadium, but now things are a little calmer. “This is a very troubling, tough moment and I don’t really feel like speaking right now. “We found out about what was happening through the press who were attending the game and the television.”

•Le Bleus...Fans sing the French anthem

•Farouk Miya

EVENTEEN-year-old Farouk Miya bagged a brace as Uganda trounced Togo 3-0 Sunday and advanced to the group stage of 2018 World Cup qualifying in Africa. Captain Geoffrey Massa scored the other goal in Kampala as Uganda qualified 4-0 on aggre-

•Flooded Alexandria stadium heavy rains, which the sewage system failed to absorb. The military-owned arena, Borg El-Arab stadium, was covered in mud and water following the se-

Both were playing in France’s friendly win over Germany at the Stade de France on Friday — which was also targeted by terrorists — while the attacks took place. But despite being directly affected by the attacks, both players have remained with the squad and will fly to England for next week’s friendly, according to France’s team media officer Philippe Tournon. “All the players are coming,” he said.

Russia 2018: Zambia, Uganda advance

Heavy rain threaten Egypt, Chad qualifier GYPT Meteorological Authority officials have warned of possible heavy rains in Alexandria and the North Coast on Tuesday, which is expected to influence whether or not the Egypt-Chad match will be held in Borg El-Arab Stadium. “Alexandria will witness heavy rain this week. This is a known yearly climatic phenomenon called El-Maknasa [the sweeper] and this will profoundly affect Borg El-Arab stadium,” the Authority boss Ahmed Abdel-Aal stated to Egyptian media Sunday morning. The coastal city of Alexandria, among many other cities in Egypt, suffered environmental disasters last month due to

•Diarra

vere flooding that struck a number of Egyptian cities. On Tuesday, the Egyptian National team will play their second-leg of the 2018 World Cup

qualifier playoff against Chad in Borg El-Arab with the attendance of fans for the first time in years following successive stadiums’ bloody clashes.

gate after matching their record home victory margin in a qualifier for the global football showpiece. Zambia also advanced from the second knockout round with post-half-time goals by Lubambo Musonda and Winston Kalengo delivering a 2-0 win over Sudan in Ndola. The Chipolopolo (Copper Bullets), one of the strongest African national teams never to play at the World Cup, progressed 3-0 overall. Gabon were first to reach the five-group stage, which kicks off next October, beating Mozambique in a penalty shootout in Libreville Saturday after a 1-1 aggregate stalemate. Uganda, buoyant after a historic first World Cup qualifying away win last Thursday, were ahead within five minutes before a packed, vibrant Nelson Mandela National Stadium crowd. Burly Massa was given time to line up a shot from just outside the area that goalkeeper N’Guissan Djehani should have saved, but he allowed the ball to creep into the corner of the net.

Vanguard, MONDAY, NOVEMBER 16, 2015 — 63

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Vanguard, MONDAY, NOVEMBER 16, 2015

Enyimba deny Sunshine Stars continental football C

HAMPIONS Enyimba denied Sunshine Stars a chance to play international football next year after they held them to a scoreless draw in Lagos on Sunday. Sunshine Stars needed to win this final game to

stand any chance of playing at least in the CAF Confederation Cup next year. Enyimba enjoyed more of the ball, but Sunshine created the better chances. Enyimba goalkeeper Femi Thomas was the

2016 CHAN: Nigeria get Tunisia, Niger, Guinea

IGERIA have been drawn in group C with Tunisia, Niger and Guinea in the CAF African Nations Championship CHAN billed for Rwanda January 16 -

February 7 2016. Hosts Rwanda will face Ivory Coast in the opening match of the tournament, this after the group

Continues on Page 61

busier of the two goalkeepers as Sunshine chased the game from the first whistle. Afolabi Okiki was de Continues on Page 61

U-23 escape plane crash, arrive Gambia N

IGERIA U23 team escaped plane crash on their way to Gambia yesterday on a

We don’t want to go back to Paris —Cavani, Luiz

ARIS Saint-Germain forward Edinson Cavani shares the fears of his team-mate David Luiz over returning to the French capital after Friday’s terrorist attacks. Brazilian defender Luiz Continues on Page 61

•Cavani

Glo Premier League Trophy Presentation... From left, Chairman of the League Management Company, Mallam Shehu Dikko, Governor of Abia State, Dr. Okezie Ikpeazu, NFF 1st Vice President, Barrister Seyi Akinwumi and Enyimba captain, Chinedu Udoji at the Teslim Balogun Stadium in Lagod.

•Luiz

10 –day training program ahead of the 2nd Africa U-23 Cup of Nations taking place in Senegal. The ARIK Air aircraft conveying the team from Lagos lost a tyre on landing at the Kotoka International Airport, Accra. The airplane that was on ground in Accra was then deployed for the purpose of flying the team to The Gambia, but that also lost an engine on take – off

Continues on Page 61

‘Suicide bomber tried to get into stadium’

SUICIDE bomber was turned away by a security guard as he tried to get into the Stade de France before blowing himself up after being challenged at the gate. The terrorist was one of three different cells who launched coordinated attacks across Paris which claimed the lives of at least 129

people. A security guard on duty at the 80,000-seat stadium challenged one terrorist who tried to access the stadium with a match ticket 15 minutes into the game between France and Germany, which was attended by president Francois Hollande. The terrorist walked Continues on Page 61

QUICK CROSSWORD

T OD AY'S PUZZLE ODA

FRI DAY'S ANS WERS FRID ANSWERS

ACROSS 1 Impel (4) 4 Intelligence (3) 6 Tight (4) 8 Coming (6) 9 No-one (6) 10 Owned (3) 12 Fashion (5) 14 Memorise (5) 15 Attempted (5) 18 Beg (6) 20 Harmony (6) 24 Loaded (5) 26 Enlist (5) 28 Broader (5) 30 Layer (3) 32 Larger (6) 33 Beast (6) 34 Intend (4) 35 Noise (3) 36 Dregs (4)

DOWN 2 Wireless (5) 3 Perform (7) 4 Having (4) 5 Nurse (4) 6 List (5) 7 Experience (7) 11 Expert (3) 13 Epock (3) 16 Sick (3) 17 Defective (3) 19 Thoughtful (7) 21 Novel (3) 22 First (7) 23 And not (3) 25 Tool (3) 27 Harmonium (5) 29 Escape (5) 30 Poke (4) 31 Story (4)

YESTERDAY'S SOLUTIONS Across: 2, Tense 7, Devil 8, Melon 10, Magic 12, Fat 13, Remit 15, Logical 17, Eroded 19, Won 20, Deleted 23, Died 25, Down 26, Devoted 30, Pad 31, Denote 34, Shelter 37, Moral 38, Awe 39, Debit 40, Piety 41, Sewed 42, Speed.

Down: 1, Defer 2, Timid 3, Elated 4, Soil 5, Refined 6, Total 9, Lac 11, Cowered 13, Ready 14, Moved 16, Got 18, Decoded 21, Donor 22, Angel 24, Deplete 27, Vat 28, Demise 29, Chair 32, Noted 33, Tamed 35, Ewe 36, Reap.

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) Ag.Editor: EZE ANABA. Phone: 01-7742861, All correspondence to P.M.B. 1007, Apapa Lagos.

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