I'll inherit empty treasury-BUHARI by Vanguard Media Limited

...towards a better life for the people VOL. 25: NO. 62347

ONLINE | www.vanguardngr.com

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MONDAY, FEBRUARY 23, 2015

I'll inherit empty treasury—BUHARI >> 8

Calls for interim govt treasonable —JONATHAN •Says new polls' date, May 29 handover sacrosanct •Catholic bishops warn politicians against heating polity •Alleged smear campaign: NIMASA threatens to sue APC >>55

By Ben Agande & Caleb Ayansina

B U J A — PRESIDENT Goodluck Jonathan has dismissed the idea of an Interim Government being insinuated by some people saying that such utterances amount to treason. Speaking, yesterday, at the first 2015 plenary session of the Catholic Bishops Conference of Nigeria (CBCN), in Abuja, President

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COLUMNISTS

Save The Naira, Save Nigerians •P.44

How the rigging odds favour •P.20 Buhari

Mr & Mrs CATHOLIC BISHOPS CONFERENCE—President Goodluck Jonathan in handshake with the Catholic Bishop of Abuja, John Cardinal Onaiyekan while the President, Catholic Bishops Conference of Nigeria, Bishop Ignatius Kaigama (R) exchanges greetings with the Executive Secretary Christian Pilgrims Commission, Mr. John Kennedy Opara shortly after the President addressed the 2015 Catholic Bishops conference held on the First Sunday in Lent at the Our Lady Queen of Nigeria, Catholic Cathedral, Garki, Abuja. Photo: Abayomi Adeshida.

7-yr-old female suicide CAPITAL FLIGHT: Economy hard hit by bomber kills 5, $22.1bn outflow in injures 19 in Yobe >>9 five weeks >>21

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POCKET CARTOON

VISIT—President Goodluck Jonathan (right) with HRM Oba Lamidi

Adeyemi, Alaafin of Oyo during the visit of the president to Oyo town,weekend. Photo: State House.

Calls for interim govt treasonable—JONATHAN Continues from Page 1 Jonathan reiterated that the re-scheduled elections will hold on March 28 and April 11 as announced by the Independent National Electoral Commission (INEC). The Catholic Arch Bishop of Abuja, Cardinal John Onaiyekan on his part urged the president to call his supporters to order in their hate speeches and campaigns. President Jonathan said that having been elected with clear mandate of the people, there was no way he would push for an interim government, assuring that his personal ambition will never supersede the interest of the nation. According to him: “Interim government is not known to the Nigerian constitution. I don’t have powers to redefine our constitution. “There is no way Goodluck Jonathan, who was elected by the people with a clear mandate, will now go and head an

interim government without a mandate. “The only interim government that anybody can contemplate is a military government which, of course, will not be accepted. “ECOWAS will not accept it, that is why we forced Burkina Faso to take the decision they took; AU will not accept it, the UN will not accept it and Nigerians will not in this present generation accept it. “So any insinuation about interim government is treasonable and people should not talk about it. Elections will be conducted as scheduled by INEC,” he said. He argued that Nigeria has had its unfair share of insecurity which also led to the postponement of the election but there was no going back on the new dates. The president, who expressed worry over some media reports, especially on the social media, stressed that the nation must remain stable.

TAKE HEART BY ELLA RANDLE

Help others first, without expecting anything— and the returns will be enormous — Take Heart Quotes

NE of the ways to be there for others is learning to listen and this simple act is more beneficial than you may think. Listening is the single-most important skill in professional and personal relationships. Ernest Hemingway said, “When people talk, listen completely. Most people never listen.” It’s sad, but true: Most people have their own agenda and are too busy talking (or waiting to talk) to listen to you. So here’s the paradox: If you, unlike most people, can truly listen with empathy, then people will like you—and eventually help you get what you want. When you want something from someone, instead of asking for it, help that person get what he or she wants. If you don’t know what he or she wants, and then simply ask, How can I help you? When you genuinely seek to help others succeed in their goals and dreams, you’ll stand out. And those people you genuinely help will in turn fight to help you succeed and give you everything you want.

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“The kind of statements we read in the media, especially in the social media, sometimes are worrisome. Is Nigeria going up in flames? But I am convinced that this country will continue to be stable,” he said, adding that the elections were postponed due to issues of insecurity and reaffirmed his commitment to the new dates.

Gombe attack On the attack on Gombe State on February 14, the former date of the election, Jonathan expressed concern that the election could have been disrupted had it held on that day. “Probably if INEC had gone ahead to conduct the elections, there would have been a major crisis in the North-East. “It is better for us to conduct elections that are free and fair; elections that are credible, elections that will not be interrupted and there will be no crisis. “I am pleased with what is happening in the North-East now; I am convinced that before March 28, this country will be in a position that no criminal element will disrupt our elections. “I will not in any way because of my personal interest, do anything that will jeopardise the interest of our nation as a whole; Nigeria is bigger than anybody.

Nigeria's unity

“There is no office that is more important than the unity of this country,” he said. He expressed gratitude to Catholics, all Christians and other religious groups for their fervent prayers for Nigeria. The CBCN President and Archbishop of Jos, Ignatius Kaigama said: “The feverish, barren political campaigns do not allow room for a national family spirit and the quest to win elections at all cost contribute to heating up

the political temperature. “We are surprised that some people who are doing business elsewhere are moving back to their home towns for fear of political violence during the elections." On a strategic approach to ensure violence free 2015 elections, the Catholic Bishops called for continuous interaction between President Jonathan and All Progressives Congress (APC) Presidential candidate, Gen. Muhammadu Buhari. Kaigama told the congregation: “We will like to see a friendly, social interaction between Mr President and Gen. Buhari and, if possible, with other aspirants where the issue is not elections, but a light-hearted conversation about the good of Nigeria.” In his message, Cardinal Onaiyekan emphasised the need for a loving nucleus family in order to have a peaceful nation, a normal society and a morally upright society, adding that the nation needs to do more in promoting family life as a good family makes a goo d nation. “Good families make a good nation. We can go even further to state that a good nation should be a family of families. The diversity of our nation is well known. But that is no reason why we cannot see ourselves as belonging to the same national family. Apart from the fact that the things we have in common far outweigh our differences, even those differences need not be causes for conflict and friction. If we acquire the habit of respecting one another, then our differences can become beauty to celebrate in harmony. “Politics is very much in the air. It is a notable and sacred task meant to serve the common good of the family that is the nation. The hot competition between political parties should not make them forget the common objectives that everyone should be pursuing— justice, peace, prosperity, harmony, good order, building a nation we can all be proud of, etc. The differences are in strategies and priorities. These are what should be presented to us, positively and transparently, to guide our free choice at elections. “There should therefore not be room for negative campaigns. Personal insults and caricatures should give way to rational discussion of issues that concern us all. Truth must be sacrosanct even in politics. Lies, deceit, calumnies cannot move us forward. They are the hallmarks of the

bad politics which have not allowed us achieve the high level that we deserve as a nation. These are what build tensions, heat up the polity, spread dangerous rumours and cause deep distrust among rival political groups. This is not in the interest of our people”, he said.

Re-scheduled polls On the rescheduled election, the cleric asked politicians to use the extra time to mend fences. He warned that the dates should not be violated to avoid dire consequences. He said the President should be given the benefit of doubt when he assured that elections will be held and handover date remains sacrosanct. “However one judges the wisdom or even justice of the postponement of the elections, we should commend the political parties for patiently accepting a “fait accompli” that seriously disrupted the plans - and maybe even budget - of many of them. “The nation will nevertheless be better served if we use the unexpected extra time to work for better outcome in our elections. Can we spend the time left to change attitudes, repair broken relationships and build trust. For example, Mr. President has declared publicly that he is committed to a free and fair election. While we believe him, we hope that he will not allow any of his supporters to poison this his holy resolve. “In the same vein, he has declared that not only May 29 but also March 28 and April 11 are sacrosanct dates. There is no question of any new shift of dates. By the same token, he has excluded any idea of a much speculated “interim government” for which there is, is any case, no provisions in our constitution. These are sacred declarations from our President, which cannot be violated without the kind of serious consequence that is in nobody’s interest. It would

be better, therefore, that we give Mr. President the benefit of the doubt and stop sowing doubts that only raise tensions and create avoidable anxieties”. He said, “The clergy should lead in this regard. As spiritual fathers to all for the common good, they should avoid reckless and politically partisan utterances, liable to compromise their sacred role and confuse the flock. We commend and encourage our lay members who have decided to take on the apostolate of public life, in the spirit of service and not for selfish aims. As catholic politicians, they should be witnesses to the truth, justice and peace that are the hallmark of our Catholic Social Teaching. If it is often said that “politics is dirty”, they should dare to be different, armed with God’s grace, and play a clean game, even at the cost of being declared losers at the polls." Senate President, David Mark in his remarks said the postponement of the elections has become a blessing in disguise, as many Nigerians would have been disenfranchised. He added: "I want to be reelected but I don’t want to go through the back door. There is no place for interim government in our constitution, so nobody should contemplate it.” The Papal Nuncio to Nigeria, Archbishop Augustine Kasujja expressed worry over the pervading rate of extremism and terrorism around the country. Kasujja urged Nigeria to brace up the challenges of raising good families, as the prevailing outcome of terrorism emanated from broken homes. Christian Association of Nigeria (CAN) President, Pastor Ayo Oritsejafor, represented by the Primate of Anglican Communion, Archbishop Nicholas Okoh called for a united front in building good families for the better of society.

6 — Vanguard, MONDAY, FEBRUARY 23, 2015

Road crash claims Federal Director, two others in Delta By Akpokona Omafuaire

ARRI—THE Director of Works in Ministry of Niger Delta Affairs, Engr. Nelson Ophori and two others, were weekend killed in a fatal auto crash at Samagidi in Ethiope West Local Government Area of Delta State. Vanguard gathered that the accident which claimed Ophori, driver of the car coming from the opposite direction and a passenger, occurred when the other car rammed into deceased’s director’s car on Saturday. It was revealed that late Ophori was on his way to attend the matriculation ceremony of Delta State University, Abraka, when the accident occurred. Vanguard sources said Ophori died instantly from shattered skull but his driver survived with minimal bruises. When Vanguard visited Ufor hospital in Ughelli, the remains of Opho ri were lying lifeless, with family members in disarray. Israel Ophori, a relative and an international photojournalist who refused to be consoled, said it was a terrible and irreplaceable loss. “I am at a lost and I don’t know. How can my uncle die like that? I guess he will wake up,” Israel stated. Ophori’s remains had been deposited at Ufor Hospital morgue at the time of this report.

C’River PDP senatorial candidate escapes assassination By Emmanuel Una

EOPLES Democratic Party, PDP, candidate for Cross River South senatorial district, Chief Gershom Bassey, weekend escaped assassination as gunmen stormed his residence at Asari Eso Layout, Calabar. It was gathered that the gunmen, whose number could not be ascertained, got to Bassey’s residence late in the evening and attempted to force their way into it through the entrance gate of the expansive compound. Eye witness account said that in the ensuing melee, the gunmen released volleys of gunshots at the police and

security personnel stationed at the gate, seriously injuring a policeman and personnel of the Nigeria Security and Civil Defense Corp, NSCDC. However, the account said the assailants could not gain entry into the residence as they were fiercely resisted in a gun duel that occurred during the encounter. Apparently sensing that the mission had failed, the gunmen retreated and escaped in a getaway vehicle that was stationed some distance away from the gate of the residence. Vanguard gathered that the PDP senatorial candidate was not at home when the gunmen came looking for him.

Commenting on the attack yesterday, the PDP senatorial candidate said there was an attack on his residence on Saturday evening. Bassey disclosed that a policeman and NSCDC personnel who were injured by the attackers, had been admitted in health facilities in the state receiving treatment. Also confirming the attack, the Police Public Relations Officer, PPRO, for Cross River State, Mr. Hogan Bassey, said the police was investigating the attack, with a view to tracking and arresting the gunmen. The PPRO said the assailants failed in their bid to gain entrance into the residence because they

EFCC staff floors IGP over assault ...Court awards N.4m damage against police By Johnbosco Agbakwuru

A truck pusher carrying a rickety tricycle on his truck. Photo by Joe Akintola, Photo Editor.

Amosun, Isiaka clash over alleged removal of posters, billboards By Daud Olatunji

BEOKUTA—GOVERNOR Ibikunle Amosun of Ogun State and the Peoples Democratic Party governorship candidate in the state, Prince Gboyega Isiaka, have traded words over the alleged removal and destruction of billboards and posters belonging to the latter. Isiaka had accused Amosun, who is the governorship candidate of All Progressives Congress, of intolerance and undue witch-hunting of opposition in the race for the general elections. But, in a swift reaction, Amosun, through the Director of Media of his campaign organisation, Mr Femi Sowoolu, denied the allegation. “It is not true and a mere figment of imagination,” the governor said. Isiaka, who had accused Amosun of intolerance while reacting to the complete removal of two movable billboards bearing his picture, which were placed at OPIC roundabout, Oke-Ilewo and NNPC junction, Moshood Abiola Way, in Abeokuta, blamed the development on the agents of Amosun. C M Y K

were resisted and repelled. He urged politicians in particular and members of the public to be very vigilant not to be caught unaware by criminals, especially during this electioneering period. The PPRO advised members of the public to always raise the alarm whenever they suspected any criminal activity directed against them or their neighbours so that the police could be alerted early enough to swing into action. The latest attack is coming on the heels of a similar attack made by gunmen on the speaker of Cross River State House of Assembly, Larry Odey, in his Calabar residence, on the night of Tuesday, January 27.

He said the governor, who is seeking re-election on the platform of All Progressives Congress, APC, had been intolerant of opposition politicians and parties. “This is not the first time this would happen. In the last one month, our posters have been destroyed by agents of Senator Ibikunle Amosun all over the state and we feel that there should be an end to this impunity,” he added. He argued that if there was any payment default, the necessary agency ought to have marked the billboards and asked him to pay up rather than destroying them. “We can only infer that someone is getting desperate and he thinks the only way out of it is to destroy people’s posters all over the place,” Isiaka said. But, in his further reaction, Sowoolu said: “Governor Amosun has strictly followed the rules of fair play throughout his campaign activity. “His efforts of performance in less than four years are evident for all to see, and he is much loved, cherished and supported by the good people of Ogun State. “The Governor therefore has no reasons whatsoever to resort to such behavior and it would be a rather unfortunate claim by the opposition, if truly it were made.''

BUJA—THE Federal High Court sitting in Abakaliki, Ebonyi State, has awarded N.4m damage against the Inspector-General of Police, IGP, over assault on a senior staff of the Economic and Financial Crimes Commission, EFCC, Mr. Effa Okim, who was brutalized by officers of the police force. Though counsel to the EFCC staff, Mr. Patrick Ekuri, expressed joy with the judiciary that at least justice had prevailed, he, however, noted that the damage awarded was grossly inadequate, considering the amount the victim spent for his regular check-up oversees. The EFCC staff had dragged the Inspector-General of Police and three others to the Federal High Court Abakiliki presided over by Justice M.A. Onyetenu, in the Suit N0. FHC,A1/CS/25/2013, praying the court for the enforcement of his fundamental human rights and award of N5 million as damages. Okim, who was said to be on official duty in Abakaliki on February 28, 2013, had lodged in Adig Suits and was attacked at the hotel’s swimming pool and ordered out of the pool by the police on the orders of an Assistant Commissioner of Police, ACP, Stephen Esimaje, who is now late. Okim was said to have refused to leave the pool because the police officers that ordered him out were in mufti but reluctantly obeyed the order when about 10 of the officers with uniform approached him to leave but not without serious beating. His counsel told the court that even w hen his client introduced himself to the ACP as a senior EFCC officer, the latter told him that he was lucky to be alive and also gave him some slaps while the other police officers continued beating him to a pulp. He was, however, lucky that some persons around smuggled him out of the hotel to the Federal Medical Centre, Abakiliki, where he was treated before being taken to an Abuja clinic and then taken to a London clinic when it was clear that he was losing his sight. His counsel told the court: “Currently, because of the beating, he now has challenges in the use of laptops, watching television and use of mobile phones.” The counsel, therefore, prayed the court for a cost of N5 million to be paid by the Police to the applicant as damage incurred, including hospital bills.

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Woman in court over N3.1m Brazilian hair theft By Bartholomew Madukwe

AGOS — A 33-year-old woman, Nneka Amadi, has been charged before an Ikeja magistrate’s court in Lagos for allegedly stealing Brazilian and Indian hair valued at N3.1 million. The accused, whose address remains unknown, also allegedly stole a diamond wristwatch, property of one Chioma Ngwolo. Amadi was arraigned by the police on a one-count charge of stealing but pleaded not guilty when the charge was read to her. The prosecutor, Inspector Eranus Nnamonu, informed the court that the offence was punishable under Section 285 of Criminal Laws No. 11 Vol. 44, Laws of Lagos State. Magistrate Abimbola Komolafe granted the accused bail in the sum of N500,000 with two sureties who must be blood relations and must have paid tax for a period of three years and adjourned the case till March 19, 2015.

Fire burns 6-month baby to death in Imo By Chidi Nkwopara

WERRI — THE people of Umudim, Umuezeala in Ehime Mbano Local Government Area of Imo State, have been thrown into serious agony, following the death of a six-month old baby girl in a mysterious fire that razed their family apartment. Confirming the incident to newsmen, the father of the deceased, Mr. Clement Anthony, who also claimed to be a tenant in the burnt building, said he was yet to get to terms with what led to his baby’s death. He recalled that he went out with his wife to purchase drugs they wanted to administer on

one of his children that was indisposed. He said: “Honestly, I cannot say exactly what ignited the fire. My wife and I went to a nearby medicine store to buy some drugs for our sick child. We returned only to behold the fire disaster.” According to the bereaved father, they saw four of their five children outside looking helplessly at the burning building, adding that on inquiry, they were told that the baby was still lying in one of the rooms. He said: “I peeped through one of the holes on the door and noticed the raging flame. I went in through the

window, not minding the huge flame. I rushed into the room where our baby girl was lying and brought her out, and handed her over to my wife.” He said his wife quickly rushed the baby to a nearby hospital but was declared dead on arrival by the medical team in the establishment. Anthony said although the family lost virtually everything they had laboured for over the years, the loss of his baby remained the most painful. “My other four children could have been victims of the raging fire, if not for the prompt intervention of the eldest among them, who is just eight years old,” Anthony said.

Gunmen abduct monarch in Bayelsa By Samuel Oyadongha

ENAGOA — GUNMEN suspected to be commercial kidnappers have abducted Chief Collins Adikoko, the deputy traditional ruler of Ikeighenbiri in Southern Ijaw Local Government Area of Bayelsa State. The abduction of the monarch, the latest in the state after a relative lull in kidnapping, it was learned, occurred at about 2 am on Saturday. The gunmen, about six in number, were said to have stormed his country home in the riverine community in a speedboat. According to sources, the gunmen, on getting to the community waterfront, shot sporadically into the air to whittle down any possible resistance from the community youths before marching to their victim’s home where he was taken away. The kidnappers, it was learned, were yet to establish contact with the victim’s family.

ACCIDENT: Scene of an accident involving Director of Works, Ministry of Niger Delta Affairs, Engr. Nelson Ophori, and two others in Delta, yesterday. Photo: Akpokona Omafuaire.

Man arrested in Enugu over cheque diversion

By Francis Igata

NUGU — OPERATIVES of 3 Mobile Police, Enugu Command, weekend arrested a man at a new generation bank for allegedly diverting a cheque into his account, against the directive of his boss. The suspect, Onyebuchi Ugwuanyi, 23, from Nkalagu, Obukpa in Igbo-Eze South Local Government Area of Enugu State, was said to have allegedly diverted a cheque from his boss, Franklyn Alieze, of 29, Market Road, Akoka, Lagos into his account, instead of paying same into the account of his boss. Police Public Relations Officer, PPRO, Enugu State police command, Mr. Ebere Amaraizu, DSP, who confirmed this yesterday, said: “Our operatives were alerted following surveillance reports available to us. Onyebuchi’s boss gave him N158,000 to pay into his account in the bank. Instead of paying the money into the boss' account, he diverted the money into his

account. “The money was given to him in Lagos but he immediately left Lagos and travelled to Enugu to

withdraw the money. “When we apprehended him, he confessed to the act and revealed that he needed the money to purchase a motorcycle.”

Minister of Youths, Mr Boni Haruna (2nd righ) emotionally touched after seeing the level of destruction at Hajia Zainab Abdullahi's House At Mararaba Mubi in Adamawa. With him are Hajia Zainab, the Victim (left) and NEMA Leader Of Assessment Team, Mr Musa Zakari.

Police nab driver for allegedly stealing his boss' SUV By Esther Onyegbula

AGOS — LAGOS State Criminal Investigation Department, SCID, Yaba, has arrested a 33-year-old driver, Abraham David, for allegedly stealing his employer ’s Sport Utility Vehicle, SUV, valued at N7 million and N100,000. Vanguard gathered that at about 9:30 am, the suspect was sent by his company, Evergreen Furniture Limited on Allen Avenue, Ikeja, Lagos, to fix one of the company’s cars, a Toyota Sequoia, with number plate JJJ903AY, at the auto mechanics. Although his boss was apprehensive about the vehicle which all of a sudden had become faulty, he reportedly gave him N100,000 to fix it and also purchase some work materials required in the company. It was learned that on the way to the mechanic workshop, the suspect allegedly absconded with the Toyota Sequoia to his home town in Eket, Akwa Ibom State. After waiting for several hours for him to return, the owner put a call to David's phone which was switched off. In a bid to locate the driver, the troubled boss called the auto mechanic who said he had not seen the suspect all day. That was when they realised that something was amiss. Vanguard learned that the next day, the employee was able to speak with the suspect after he switched on his mobile phone. The suspect purportedly demanded his employer to pay N500,000 into his account if he needed the vehicle. To enable his employers transfer the said amount into his account, he sent his account details to his boss. At this stage, his employer reported the case to Area F Command,which through investigation, traced the suspect to his home town in Akwa Ibom State and recovered the vehicle in Eket town, but the suspect escaped. However, the suspect was later apprehended in Lagos when he came to park his belongings to his home state.

8—Vanguard, MONDAY, FEBRUARY 23, 2015

Electricity: No going back on privatization —Jonathan By Sebastine Obasi

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AGOS — President Goodluck Jonathan, weekend, said there was no going back on privatization of electricity projects in the quest of his administration to give stable power supply to Nigerians. The President, who spoke at the commissioning of Unit ST-6, at Egbin Power Plant, Ikorodu, Lagos, also said reliable power sector facilitates socioeconomic development of any nation, adding that small and medium scale industries cannot thrive without reliable electricity. He said: “Small and medium enterprises cannot thrive if owners of such businesses are left to generate their own electricity. Egbin power facility presents a vision of our drive to give stable power supply to Nigerians. We are committed to irreversibly taking power sector to the expected height where every Nigerian will be proud of it.” The President also enjoined host communities of Egbin plant to partner with the company in ensuring security of the facilities and the employment of the youths. He explained that terrorism will be reduced to the barest minimum in a no distant time in the country, as his administration was committed to security of the citizenry. Also speaking, Minister of Power, Professor Chinedu Nebo, said since privatization, the power sector had received a new baton to provide Nigeria with stable electricity. According to him, "privatization has changed the sector for good. For example, at Kainji Station, only one unit was said to be working upon takeover at 80 MW. However, presently, it has 150 MW, with additional 80 MW expected in the next two weeks to bring it to 230 MW."

I’ll inherit huge debt profile, empty treasury —Buhari zPromises Nigerians of better days

By Charles Kumolu

AGOS — PRESIDENTIAL candidate of the All Progressives Congress, APC, has said that he would inherit a huge debt profile and empty treasury if elected president, expressing confidence that his wealth of experience would assist in turning the situation around. He also stated that his party’s economic policies are conceived to be peoplecentred, adding that the country would for the first time in over three decades experience a truly pro-people Federal Government if elected. Buhari said this in a statement by the Director of Media and Publicity of the APC Presidential Campaign Organisation, APCPCO, Malam Garba Shehu. His words: "It is crystal clear that our revenues are dwindling by the day and if we must survive, we cannot continue on this path of near absence of accountability, mismanagement, outright waste and jamboree that has characterised the management of public resources under the Jonathanled PDP government. "We can assure the mass of Nigerian people that help is on the way. We know that an APC controlled Federal Government will obviously inherit a huge debt profile and an empty treasury from this PDP Federal Government. We are confident of turning the situation around. "It is apparent that the Federal Government has suddenly found itself in a bind with plummeting crude oil prices in the international market, but typical of a team that lacks capacity for anticipatory actions, the Federal Government has been running from pillar to post in a vain bid to stabilize the economy. "Unfortunately, all conceived palliatives applied to save the nation’s declining economic indicators have merely scrapped the surface of the problems leaving the mass of Nigerians desperate, confused and hungrier. "With external debt standing at more than $10 billion and our internal debts at more than $50 billion, it is without doubt that President Jonathan is driving Nigeria into economic wilderness. This should be a cause for concern for all wellmeaning Nigerians, more so when the Federal Government responses to these rising

economic challenges have, at best, been casual. “Emblematic of this casual, non profound approach to the management of the national economy is the Central Bank of Nigeria’s

devaluation of the national currency in November 2014 while retaining the Retail Dutch Auction System (RDAS).\ "Dramatically, just under three months after that

devaluation, the CBN, obviously buffeted by unanticipated dynamics in the foreign exchange market, announced the closure of the RDAS and the Wholesale Dutch Auction System (WDAS). This shows clearly an uncoordinated template in the management of the national economy."

RECEPTION: Chairman, Heirs Holdings and Founder, Tony Elumelu Foundation, TEF, Tony Elumelu (2nd left); new CEO, TEF, Professor Reid Whitlock (2nd right); inaugural CEO of the Foundation and now Director, Strategy, Heirs Holdings, Dr. Wiebe Boer (left) and Group Director- Financial Services, Heirs Holdings, Victor Osadolor, during a reception at the Foundation's office in Ikoyi, Lagos.

FirstBank seizes Seawolf rigs over N25bn debt zAs workers demand N3bn salary arrears By Clara Nwachukwu & Sebastine Obasi

AGOS— SEQUEL to our exclusive story earlier this month about abandoned oil rigs at the outer Marina in Lagos, Vanguard learnt that the rigs may have been seized by FirstBank of Nigeria Plc for alleged debts of about N25 billion owed by Seawolf Oil Services Limited, owners of the rigs. As a result, the two rigs – Onome and Oritesetimeyin, may not have been abandoned after all, but kept under watch by FirstBank. This is happening as more than 450 workers of the company demand the payment of N3 billion allegedly owed them since August, 2013.

The DPR claim

The unfolding scenario is contrary to the claim by the Department of Petroleum Resources, DPR, the industry regulator, that the two rigs were undergoing repairs. Vanguard’s Sweetcrude in its February edition had reported the unusual presence of the two

rigs at the Marina, but the DPR had dismissed it as not ‘being out of place.’ Even now, the industry regulator has not the faintest idea why the rigs are at the Marina, because when contacted, a top official of the agency, who preferred anonymity insisted that the rigs were not abandoned. “What we are saying is that as long as the rigs have no issue, they are not abandoned,” he argued. But curiosity about the presence of the rigs at the Marina was borne out of the fact that rigs are usually found in oil producing areas. But on further investigation, Vanguard discovered that the two rigs were seized because of mismanagement of the funds by Seawolf.

Rigs were working for Total, Addax

It was learnt that while the rig named Oritsetimeyin was working for Total E&P Nigeria, Onome was working for Addax Petroleum Development Company, with each generating $130,000 daily. Things started to fall apart

when the directors of Seawolf were alleged to have been diverting the company’s funds for personal use. First was the $11 million given by Ttal meant to train the staff and buy equipment for the rig, which could not be accounted for, which led to the cancellation of the contract. Also, the company refused to service the N25 billion loan it took from FirstBank. These led to the gradual grinding of operations of the once flourishing oil servicing company wholly owned by Nigerians. When the company could no longer function, it terminated the employment of its more than 450 workers in August 2013, without paying their entitlements.

AMCON takes over

Consequently, the Asset Management Company of Nigeria, AMCON, was compelled to take over Seawolf and the two rigs involved. However, the workers are asking for their salary arrears, terminal benefits and other entitlements as enshrined in the Collective Bargaining agreement, CBA, they had with Seawolf.

10 — Vanguard, MONDAY, FEBRUARY 23, 2015

Service chiefs urged to assure Nigerians of peaceful polls By Abdulwahab Abdulah

AGOS—SOME prodemocracy activists, under the aegis of Nigerians United for Democracy, NUD, have called on the security chiefs to give an undertaking on the conduct and certainty of the rescheduled March 28 poll. The call was sequel to the anxiety generated by the Independent National Electoral Commission, INEC, Chairman’s Prof Atahiru Jega’s statement which indicated that only the service chiefs could guarantee that the rescheduled elections would hold. Addressing a press conference in Lagos, the national coordinator of the group, Mr. Femi Falana, SAN, submitted that Nigerians are “ worried that the new election dates are not sacrosanct.” According to him, with Jega’s statement before the Senate, “we are compelled to call on the National Assembly to extract a firm undertaking from the NSA and the security chiefs that the general elections would not be further postponed or disrupted.” Also, the group called on INEC and the military to ensure that the recent judgment of the Court of Appeal to the effect that the armed forces had no role to play in the electoral process was obeyed.

Nigerian leaders must possess moral authority to stop corruption—FASHOLA By Olasunkanmi Akoni & Monsur Olowoopejo

AGOS—GOVERNOR Babatunde Fashola of Lagos State has said that unless Nigerian leaders lived above board by imbibing and showing high level of moral authority, it would be difficult to stop the menace of corruption in the country. The governor, who said this at an interactive session with Lagos State Governor ’s Office Correspondents, LAGOCO, at the

AGOS State governorship candidate of the Peoples Democratic Party, PDP, Mr. Jimi Agbaje has described President Goodluck Jonathan as a custodian of transparency, saying he had been fighting corruption since the beginning of his administration, contrary to the propaganda of the opposition. Speaking at the book launch ‘Showcasing Goodluck Ebele Jonathan’s Monumental Stride: A Third Party Perspective’, written by Citizens Network for Peace and Development at Airport Hotel Lagos, weekend, Agbaje affirmed that starvation had reduced in the country drastically because the present administration has encouraged farmers and reduced C M Y K

Nigerian people or nation must reach an agreement about what we want to do about corruption. “When we say we must stop corruption, who is ready to lead by example? Corruption is not only taking money and I disagree that stealing is not corruption. “If you are driving against traffic, though it is an infraction against the traffic law to get to where you do not deserve, it is corruption. “If you go to the commissioner to get a promotion for your sister before promotion examination in the ministry, is that fair? These are

cases of corruption. Can you sentence somebody to death for that? “So I don’t think sentencing people to jail or death is the answer to the problem of corruption. “The answer first is to provide enough for people and to lead them with a moral authority that everybody knows that it is bad to cheat and when they break the rules that there will be consequences.''

...Says Agbaje just paid N.5 part of his tax default

Meanwhile Governor Fashola has reiterated that the governorship candidate of Peoples Democratic Party, PDP, in the state, Mr. Jimi Agbaje, was owing land use charge, saying he had only just paid N500,000 of the N1.6 million he was owing. The governor said: “After denying that JK is not Jimi Agbaje, he has gone to pay N500, 000 of the N1.6 million debts. But he still owes the government. “He published some receipts, BRIEFING: From left; Malachy Ugwumadu, member, Nigerian's United for Democracy, NUD; Legal Practitioner, Mr Femi Falana, Co-Convener, NUD; Olarewaju Suraj, South so it is true now that he is owing Coordinator, NUD, and and Comrade Debo Adeniran, Chairman, Coalition Against Corrupt some money. He must pay Leaders, CACOL, during the press briefing by Falana on 2015 General Election and planning for because that money belongs to the local government and the nationawide peaceful protest in Ikeja, Lagos, yesterday. Photo by Kehinde Gbadamosi people of Lagos State.''

APC insists on forensic investigation of alleged Ekiti rigging tape ...Accuses Presidency of plans to sweep matter under carpet By Olasunkanmi Akoni

HE All Progressives Congress, APC, has reiterated the need for an urgent

Agbaje lauds Jonathan on anti-graft war By Dotun Ibiwoye

weekend, noted that though the concept of corruption was multifaceted, theft constituted worst part of the practice. Fashola admitted that though corruption was a heinous crime, it could not be stopped by capital punishment in the country. He said: “As for corruption I have my own views that I have expressed consistently about corruption and I have always said corruption is the symptom of a more serious problem. “There are so many levels of corruption and I think the

importation of food items by 40 per cent. “They said Jonathan is corrupt. Have they ever fought anybody for corruption in Lagos since 1999 to date? With all the allegations of embezzlement in Lagos they have not probed anyone in Lagos and they want to fight corruption in Abuja when they hope to get there?’ “Transparency International did a report recently and said the administration of President Jonathan has fought corruption the most. Don’t let them shout us down or be afraid to speak the truth. There is no programme that the APC presidential candidate, Gen. Buhari, has that Jonathan cannot double.” “It is very funny when they use all forms of propaganda to win election by all means,'' he said.

forensic investigation of the alleged Ekiti rigging tape recently released by an army captain who said he recorded it. According to the party, it is wrong for anyone to label the tape fake without forensic investigation. The party in a statement signed by National Publicity Secretary, Alhaji Lai Mohammed, yesterday posited that the issues exposed by the tape were too grave to be swept under the carpet or dismissed on the basis of gross partisanship. It said the investigation was particularly necessary because of the alleged role the military played in the whole rigging scenario, and against the background of the court rulings against the deployment of troops for elections. “Has the integrity of the military not been compromised by the alleged role of a General and hundreds of his troops in the rigging saga?’’ APC queried. The party said the inconsistency of the federal government’s response to the whole saga has exposed its underbelly and made it more urgent for a forensic

investigation of the tape to be carried out. ‘’First, those whose voices were heard on the tape rushed to deny there was any such meeting. “Later, after they were confronted with a preponderance of evidence,

they started owning up one by one, starting with Police Affairs Minister Jelili Adesiyan, then Minister of State for Defence Musiliu Obanikoro and then Ekiti Governor Ayodele Fayose, even though they all denied the meeting was about rigging. Of course, Nigerians know better.''

MINISTERIAL NOMINATION: ‘APC’s call for Obanikoro’s rejection lacks merit' By Charles Kumolu

AGOS—LAGOS State chapter of Peoples Democratic Party, PDP, has faulted calls by the All Progressives Congress, APC, for the rejection of Senator Musiliu Obanikoro as a ministerial nominee over his alleged involvement in an audio recording on Ekiti State governorship election, saying the party is behaving like a bad loser. It noted that such calls lacked merit since the authenticity of the tape was yet to be ascertained. Briefing newsmen yesterday in Lagos, the PDP Secretary, Wahab Owokoniran said Obanikoro’s

nomination was well deserved. His words: ‘’All these claims are unfounded and the APC is only doing that to discredit the president’s nomination, which has the blessing of all members of the party in Lagos. There has not been any protest to the nomination from the PDP or any non-political group in Lagos. The only group mounting opposition to the nomination is the APC, which is well understood, we don’t expect anything less. “We are talking here of a tape that has been doctored to reflect their negative opinion about an election they lost freely and fairly, but they are being bad losers.''

Vanguard, MONDAY, FEBRUARY 23, 2015 — 11

Osun workers split over planned strike By Gbenga Olarinoye

ORKERS in Osun State are divided over a planned strike slated to commence in the state today following the inability of the state government to meet their demands. The Comrade Olatunji Akinyemi-led Association of Senior Civil Servant was reported to have led some members of the union to protest at the state secretariat, Abere on Thursday. Akinyemi has, among other things, accused the state government of owing workers about five months’ salary, non promotion and problem in the contributory pension scheme. However, while speaking with newsmen, weekend on the issue, the Chairman of Trade Union Congress (TUC), Comrade Oladele Adetunji, faulted the planned protest by the Akinyemi -led union. The TUC chairman who was supported by the state chairman of the Joint Negotiation Council, JNC, Comrade Bayo Adejumo, stated that Governor Rauf Aregbesola had explained to the union leaders during a meeting that due to the dwindling allocation from the federation account salaries may not be paid as at when due.

I won't defect to APC – OKE By Dayo Johnson

KURE—FORMER governorship Candidate of the Peoples Democratic Party (PDP) in Ondo State, Chief Olusola Oke, weekend, denied romancing or planning to defect to the opposition All Progressives Congress, APC. Speculation was rife that the defection of his foot soldiers to the opposition party was a prelude to his movement any moment. Speaking at a press conference to debunk the rumour and other allegations against him in Akure, Oke said he will never leave the PDP. C M Y K

Buhari visited UK hospital, Fayose insists ...Gov should apologise to the world on Buhari – APC group By Gbenga Ariyibi

DO EKITI—EKITI State Governor, Mr Ayodele Fayose has challenged the All Progressives Congress (APC) Presidential Candidate, Major-General Muhammadu

Buhari (retd) to swear with the Holy Quran that he did not visit a hospital for medical attention during his ongoing visit to United Kingdom. Fayose who blamed the leadership of APC for not being fair to the nation by hiding the health status of the

former military ruler, in a statement by his Special Assistant on Communication and New Media, Lere Olayinka, said Buhari will never be the president as he would dash the hope of his followers. “Buhari will never be

INAUGURATION: From right; Ondo State Governor, Dr Olusegun Mimiko; Prof Dupe Olatunbosun and the Osemawe of Ondo kingdom, Oba (Dr) Victor Kiladejo, at the inauguration of a Caring Heart Mega Primary School, at Irese, Akure, on Friday.

Nigerian president again because some APC stalwarts want to ride on his back to seize power at all cost,’’ Fayose said, adding that he was not wishing Buhari dead but just to save the country from unnecessary embarrassment.

Fayose should apologise to the world on Buhari

However, the Action Group of the APC in Ekiti State has described Governor Fayose as a political stalker whose actions should be viewed as a threat to Buhari’s life. In a statement by its Spokesperson, Mr. Segun Dipe, the group expressed worries about Fayose’s stalking attitude towards the person of General Buhari and asked Fayose to tender an unreserved apology for having the General on his death wish list. Dipe said everyone should have noticed how Fayose's words and deeds have been threatening the life of General Buhari. “The indecorous governor is bent on seeing the APC presidential candidate dead before the March 28 Presidential election, because his party is sure of losing the election, and he feels he will stew for it,” he said.

APPEAL COURT: Omisore’s optimism delusional — APC By Gbenga Olarinoye

seriously think that the Court of Appeal will accommodate HE All Progressives this after-thought? The reason Congress, APC, in that video was not presented to Osun State has said that the the Tribunal in the first instance Peoples Democratic Party PDP Governorship Candidate, Senator Iyiola Omisore’s optimism that he would win the seat through the appeal By Clifford Ndujihe court as delusional. AGOS—NATIONAL CoReacting to a video clip ordinator of the Oodua which the PDP circulated last week in Abuja as ‘evidence Peoples Congress (OPC), Otunba that the APC rigged the Gani Adams, yesterday, said that governorship election in six million members of the group Osun State, the APC in a have resolved to vote for President statement by its Director of Goodluck Jonathan at the March Publicity, Mr. Kunle Oyatomi, 28 presidential polls. He said OPC members took the said the video will not make any difference to Omisore’s decision at their National Coordinating Council meeting after case at the court of appeal. According to the APC taking time to assess President spokesman, the case Omisore Goodluck Jonathan of the Peoples argued for 180 days at the Democratic Party (PDP) and Tribunal was meticulously Major Gen Muhammadu Buhari dismantled in a landmark (retd) of the All Progressives judgment that lasted over seven Congress (APC). He made the disclosure at his hours by the three-man panel which struck it out as unworthy Lagos residence while hosting Special Adviser to President in every material particular. The APC wondered what Jonathan on Niger Delta Affairs, would have gone wrong with the Hon Kingsley Kuku, who came PDP chieftain, who had this so- to solicit his and OPC’s support called video clip evidence that he for Jonathan’s re-election. Adams said OPC is rooting for could have presented at the Jonathan because of his human tribunal, but failed to do so. The statement read in part: rights records in not arresting or “Did this fellow (Omisore) detaining any activist since he

was because it was fake.” The APC claimed it had gotten wind of the production of the particular video since November last year and had

informed security forces accordingly, adding this move was in part, what prevented the PDP from presenting it at the Tribunal as was their original plan.

POLLS: 6m OPC members'll vote for Jonathan – ADAMS

came to power, convocation of national conference and promise to implement the 633 recommendations that will help to restructure the country, which he said is in the interest of the Yoruba and South-west. He said: ‘’OPC is a group of six million people. We sat down at our National Co-ordinating Council to decide on who to vote for between President Jonathan and Buhari and the support for Jonathan is unanimous.'' ''Now, we have come out to

support Jonathan because of the National Conference. We have been clamouring for National Conference since 1992, even our leaders could not organise it. President Olusegun Obasanjo organised the National Political Reforms Conference with a lot of no-go areas. In the end there was a stalemate. ''Now a minority, Jonathan, did it. The only no-go area is the unity of the country. He gave us open cheque to decide the future of Nigeria.''

...As OPC dissolves Ekiti exco

HE National Executive Council of the Oodua People’s Congress (OPC) led by Otunba Gani Adams has dissolved state executive Council of the Congress in Ekiti State. A statement by OPC National General Secretary, Barrister Babajide Tanimowo,

said “The decision was reached by the National Executive Council members of OPC on Tuesday, February 9, 2015, at its weekly meeting. All the executive members of the congress in Ekiti are hereby enjoined and warned to stop parading themselves as executives of the Congress.”

12—Vanguard, MONDAY, FEBRUARY 23, 2015

Ex-militants threaten amnesty office with law suit

SECURITY AWARD: From left—

Mr. Boma Spero-Jack, Special Adviser on Security; his predecessor, Lt. Col. Bernard Kenebai; Governor Seriake Dickson of Bayelsa State, and Mr. Paul Okafor, Commissioner of Police, Bayelsa State Command, during the presentation of Security Watch Africa award to the state security outfit, Operation Doo Akpor, as the Best Crime Bursting Security Squad in West Africa, to the commissioner in Yenagoa.

By Festus Ahon

SABA—FORMER militants, under the aegis of the Justice Group, have vowed to drag the Amnesty Office to court if they were not documented and integrated into the phase three of the amnesty programme. The ex-militants, in a statement by their leaders, David Owhegbe, Touch and Goodluck Ose, said: “We have been promised documentation and inclusion into the amnesty programme and up till now, nothing has happened and we have heard several rumours that the amnesty head, Mr Kingsley Kuku is documenting and integrating secret exmilitants, who are not visible, quoting ghost slots training of exmilitants in different countries.” The group noted that the programme was not the personal business of Kuku, but for those who have genuine amnesty report of ammunition submitted to JTF and in the interest of the Niger Delta region.

Rivers PDP condemns attack on Dimkpa

HE Rivers State chapter of Peoples Democratic Party, PDP, has condemned the attempt on the life of a party stalwart, Engr. Chukwudi Dimkpa, by gunmen at his residence in Agip Housing Estate, Rumueme, Port Harcourt. A statement by Jerry Needam, media aide to the state PDP Chairman, Mr. Felix Obuah, said four armed men had in the early hours of Saturday, February 21, attacked Dimkpa, who narrowly survived the attack and is now recuperating at a private hospital in Port Harcourt. It said: “PDP believed that this incident was orchestrated by All Progressives Congress, APC,” urging police to up its surveillance and monitor the activities of APC, which it said was bent on truncating the forthcoming elections.

Beware of political stooges, PDP chieftain cautions Bini By Gabriel Enogholase

ENIN—AHEAD of the March 28 presidential election, former Deputy Chairman of Peoples Democratic Party, PDP, Edo State, Mr. Clement Edo-Osagie, has urged the people of Edo South senatorial district to be wary of those he described as insignificant political stooges, who were out to use their positions to attract political patronages to themselves and their immediate families at the detriment of the vast majority. Edo-Osagie spoke in Benin, weekend, in reaction to the recent statement by the Esogban of Benin Kingdom, Chief David Edebiri, that the Bini will not vote for President Goodluck Jonathan. He enjoined well-meaning Bini not to allow few persons, whose aims were to deny the people of Edo South senatorial district their rightful place in the scheme of things. He said: “It is no longer news that some of these persons have made themselves spokespersons of the Bini. The political scene in Edo South has become a ‘farm’ to these persons who go about parading themselves as high ranking Benin chiefs, extorting those in Dennis Osadebay Avenue.” He advised Bini to resist the attempt being made by some individuals under the guise of assuming the role of political “godfathers” of the Bini. Meanwhile, three civil societies in Edo State have lampooned Governor Adams Oshiomhole for abandoning issues in his campaign for All Progressives Congress, APC, in the re-scheduled general elections and instead was attacking personalities and internal issues of PDP in the state.

The societies, Rainbow Caucus, New Frontiers and Edo for Democratic Change in a statement urged Oshiomhole to mind his party’s business instead of occupying himself with PDP internal issues.

The spokesman of the groups, Okharedia Ihimekpen, called on Oshiomhole to explain to Edo electorate what has happened to all Edo industries including Edo Line, Edo Cement Factory, Bendel Brewery and Ewu Flour Mill.

Benin Forum debunks rumours of rift By Simon Ebegbulem

ENIN—THE Benin Forum, an umbrella body of all Bini in the country and the Diaspora, led by the Esogban of Benin Kingdom, Chief David Edebiri, weekend, said those peddling rumours that there was crisis in the Forum were enemies of the Bini. Reacting to a publication by some persons, who claimed to be members of the Forum, wherein they called for the resignation of Chief Edebiri over his comment that the Bini will not vote for President Goodluck Jonathan, Public Relations Officer of the Forum, Michael Ogbeide-Ihama, said: “Certain names that were mentioned in the publication

as members and officers of the Benin Forum are, in fact, not known to the genuine members of the Forum. “I wish to emphatically point out that there is no crisis whatsoever in the Benin Forum. Those peddling such rumour are mischief makers, who do not mean well for the Benin people.” Recalling that the Forum had on January 25, 2015, taken decisions as regards the forthcoming general elections, where it declared that the Forum will not endorse any of the presidential candidates yet, Ogbeide-Ihama said the interview, where the Esogban stated reasons why the Bini may not vote for President Jonathan, was in exercise of his fundamental human rights.

IYC commends war against insurgents By Samuel Oyadongha

E N AG OA — I JAW Youth Council, IYC, worldwide has commended the efforts of the Nigeria Armed Forces and the joint national forces for the successes recorded so far in the ongoing war against insurgency in the NorthEast of Nigeria. Spokesman of IYC, Eric Omare, while lauding the military campaign against the insurgents, said the war against insurgency cannot be completely won without the total support of the people and communities directly affected. Omare, in a statement in Yenagoa, Bayelsa State, called on the Federal Government and the governments of neighbouring Chad, Cameroun and Niger Republic not to relent in the ongoing war without flushing out all the Boko Haram insurgents. Sympathizing with the families of those who paid the ultimate price in the crucial national assignment, IYC insisted that there must be no room for any sort of negotiation with insurgents.

A-Ibom AP gov candidate mobilizes for Jonathan By Chioma Onuegbu

YO—GOVERNORSHIP candidate of Accord Party AP, in Akwa Ibom State, Bishop Samuel Akpan, has reiterated his commitment to President Goodluck Jonathan’s reelection, even as he warned politicians to stop attacking him or face God's wrath. Bishop Akpan, who spoke at the fund raising launch and dinner organized by Jonathan

Mandate Group, JOMAG, South-South zone, weekend, in Uyo, appealed to party members and supporters to condemn a situation where some politicians in the state engage in what he described as satanic behaviours for the fear of losing grip or winning elections. He said despite the fact that he was victimized by his former party, Peoples Democratic Party, PDP, after

his various contributions and efforts during the 2011 polls, he had continued to support Goodluck Jonathan’s reelection in the spirit of progress, although he found consolation in the Accord Party platform. He said: “JOMAG is an organization in which I served as Deputy National Chairman, Board of Trustees. I also served as the Chairman, Board of Trustees, South-South zone.”

Vanguard, MONDAY, FEBRUARY 23, 2015—13

Edo women threaten to protest govt acquisition of Oba's son's land By Gabriel Enogholase

ENIN—THE last may not have been heard about the alleged forceful acquisition of the land belonging to a Benin prince, Ekpen Erediauwa, by Edo State Government as some Bini women, under the aegis of Concerned Edo Women, have threatened to embark on a protest to force the government off the land. The women vowed that if the government did not give the land back to the Prince, they would mobilize women across the 18 local government areas of the state to demonstrate against the governor. Spokeswoman and leader of the women, Mrs Evelyn Inneh,

said they had, weekend, gathered to embark on a peaceful protest when Prince Erediauwa prevailed on them to call it off. She said it was an abomination for the governor to drag land with any member of the royal family, insisting that “Oba owns the land.” She said: “We are not politicians and this is not a political fight. We condemn the action as it is an abominable in our land. We deem it fit to inform the governor that we are against what he is doing. “It is the Omo N’ Oba that owns the land. We are shocked that the governor is attacking the Prince, telling him to stay

away from his own land. “The governor cannot say he or government acquired the land. I do not know why he chose to fight the Prince. He should give that land back to the Prince.” Prince Ekpen, who addressed the women at his

Rivers govt denies owing council staff salaries By Jimitota Onoyume

ORT HARCOURT— RIVERS State Government has denied allegation by People Democratic Party, PDP, that it

SECURITY AWARD: From left— Captain Waredi Enisuoh, Director, Shipping Development; Mr. Callistus Obi, Executive Director and Dr. Zigkede Akpobolokemi, Director General, all of Nigerian Maritime Administration and Safety Agency, NIMASA, during a press conference on All Progressives Congress, APC's allegations, in Lagos, yesterday. PHOTO: Joe Akintola, Photo Editor.

PDP TO OSHIOMHOLE: By Gabriel Enogholase

ENIN— EDO State chapter of Peoples Democratic Party, PDP, has accused Edo State Government of raising tension in the state with what it described as “unguarded, careless and reckless statements unbecoming of a government and a governor.” The party, through its State Publicity Secretary, Mr. Chris Nehikhare, was reacting to a statement credited to the state Commissioner for Information and Orientation, Louis Odion, that the state government had allegedly uncovered a plot by PDP to unleash mayhem on the state by way of killings before the general elections of March 28 and April 11.

Benin residence, expressed optimism that the issue would soon be resolved, pointing out that the Benin palace, respected government officials and leaders of his party, All Progressives Congress, APC, were already looking at how the matter would be resolved.

was owing local government staff two months salaries. Commissioner for Local Government and Chieftaincy, Mr. Samuel Eyiba, who spoke in Port Harcourt, weekend, said all council staff had been paid. Meanwhile, Chairman of PDP in the state, Mr. Felix Obuah, alleged in a statement by his media aide, Mr. Jerry Needam, that council staff had not been paid for two months, adding that the state government also withheld councils’ allocation for December and January. He said: “The continued withholding of salaries of council workers in the state shows that All Progressives Congress, APC, has no regard for the welfare of workers and the people of the state.” Obuah also frowned at the running of the councils in Rivers State by Caretaker Committees, whose tenures expired in November 2014 and had neither been renewed nor new members inaugurated. “Governor Rotimi Amaechi, by this act, has shown that he does not respect the law and the people, and cannot also be trusted with positions of trust,” Obuah added.

Stop heating up the polity

It stated that the allegation showed that the Adams Oshiomhole’s administration had not departed from its old ways of raising false accusations and alarms,

recalling that the governor committed the same act in the months preceding the 2012 governorship election. The party warned that Edo people were now wiser and

used to what it described as “antics of the governor,” adding that the governor deploy such tactics to divert attention from burning issues from which he was likely to be damaged.

NIS stampede victims threaten to take FG to ICJ By Simon Ebegbulem

ENIN—VICTIMS of the 2014 ill-fated Nigeria Immigration Service, NIS, recruitment exercise in Edo State have threatened to drag the Federal Government before the International Court of Justice, ICJ, in the Hague, over what it described as social injustice and total neglect of families of the dead victims and

the wounded. The victims also raised alarm, alleging that the authorities of the service in Edo State were making efforts to substitute the authentic names of the victims with their cronies’, who were not victims of the exercise in ongoing efforts by the Federal Government to compensate families of the victims. It will be recalled that one woman died at the Samuel

Ogbemudia Stadium, while over 50 were hospitalized during the stampede that marred the exercise. In a petition by their counsel, O. Edmund, the victims regretted that one year after the incident, the Federal Government had not compensated them as earlier promised, therefore “we may have to sue them at the Hague to get our compensation.”

Bayelsa group dismisses threat of mass defection from PDP By Samuel Oyadongha

ENAGOA—A group, the Aboriginal PDP in Bayelsa State, weekend described as untrue, claims of looming mass defection of Peoples Democratic Party, PDP, members in the state if President Goodluck Jonathan failed to support the suspension of the state chairman of the party, Col Sam Inokoba (retd). Some PDP stakeholders had last week issued the threat of mass defection to an opposition party, if the President does not endorse the suspension of Inokoba as the state chairman of the party. The group, through its chairman, Chief Ebi Erepam, said the purported threat of mass defection by some members of PDP to an opposition party was not only non-existent but a ruse, aimed at hoodwinking the party leadership in Abuja into endorsing the electoral ambition of the persons that instigated the said suspension of the state PDP chairman. Urging the PDP national working committee to discountenance the threat, the group described the so-called major stakeholders that issued the said threat as confused. According to the group, “in one breath they said it was the state working committee of the party that suspended the PDP chairman and in another, they said it was the State Executive Committee, SEC, that suspended him.”

CORRECTION

N a feature piece on Page 28 of Sunday Vanguard of February 22, 2015, entitled Successive military rulers left the military to rot says ex defence minister, Oritsejafor, the interviewee’s traditional title was wrongly depicted. Dr. Roland Lere Oritsejafor is the Ogwa of Warri in Warri kingdom and should have been so addressed in the body of the story. Editor.

14—Vanguard, MONDAY, FEBRUARY 23, 2015

FG to begin feeding programme in Almajiri schools By Emmanuel Elebeke

BUJA — THE M i n i s t e r of National Planning, Dr Abubakar Sulaiman, said yesterday that plans had been perfected by Federal Government to introduce school feeding programme for Almajiri Integrated Schools in the Transformation Agenda of President Goodluck Jonathan in the next four years, if he is re-elected. The minister announced this during a strategic stakeholders roundtable on the milestone achievements on the Almajiri Integrated Schools programme organised by the National Planning Commission, NPC, weekend. The roundtable was aimed at assessing the key milestone achievements of the programme and also deliberate on the next steps to advance the programme in line with the Transformation Agenda of President Goodluck Jonathan. He said: “In the next four years, going forward, the successor Transformation Agenda will introduce school feeding programme for the Almajiri Integerated Schools.” Sulaiman said it was a project that would support government action towards achieving relevant aspects of the Millennium Development Goals, MDGs, and also explained that the overall goal of the programme was to reduce hunger and malnutrition among children in the Almajiri schools. He said it was also designed to strengthen the achievements of Universal Basic Education in addressing the gaps in basic education in disadvantaged states and encapsulating the Almajiri Integrated System into the mainstream of the National Educational Policy in the country. He said: “Every pupil in the school is expected to be fed with a quality and adequate ration comprising of three square meals and snacks/fruits each school day and weekends. It is pertinent to note that incorporation of agricultural programme and vocational components should be given critical attention."

Budget 2015: Reps demand upward review of capital votes zInsist exchange rate must be reviewed By Emman Ovuakporie & Levinus Nwabughiogu

BUJA — DUE to the disparity in provision for capital and recurrent expenditure in the 2015 budget, the House of Representatives has demanded an upward review of the Appropriation Bill for capital votes. Chairman of the National Assembly Budget and Research Office, NABRO, who doubles as chairman of the House Committee on Legislative Budget, Bamidele Opeyemi, revealed this in an interview with newsmen, weekend. Vanguard recalls that of the total budget proposal of N4.357 trillion, N411,840 billion is for statutory transfers, N943 billion for debt servicing and N2,616, trillion for recurrent expenditure, while the balance of N387,112 billion is for contribution to development fund for capital expenditure.

Opeyemi said the capital provision in the proposed budget was a far cry from a budget that intended to propel growth, insisting that giving only about 40 percent of the budget to capital was a grossly misplaced adventure. He said: “I want to say that the near no provision for capital projects in the budget is unacceptable. Any budget that wants to propel growth will take capital seriously. “The House will work to see that it increase the capital side of the budget and possibly reduce the recurrent aspect.” On the dwindling value of the naira to the dollar, Opeyemi said the current exchange rate was not sustainable, explaining that the vulnerability of the currency must be halted. He said the House was also concerned about the deficit aspect of the proposed budget,

adding that the deficit must be resolved if the budget was to impact positively on Nigerians. “The House of Representatives and indeed the National Assembly will not work with the $65 benchmark price proposed by the executive. It will have to be somewhere in the region of $50 per barrel,” he said. He argued that managers of the Nigerian economy failed to follow the trend of activities in the international market, as other oil producing nations like Iran, Iraq and Venezuela pegged their oil benchmark at $60 per barrel and passed their budget laws in 2014. The lawmaker further noted that the 2.37 million barrel per day oil production as well as the exchange rate remain unrealistic considering the prevailing security challenges facing the country.

DEDICATION: From left: Dr. Lily Ojo, Comptroller General of Nigerian Prisons Service (retd); Williams Aladekugbe; Chief Ernest Shonekan, former Head of Interim National Government; Sir Ezekiel Aikolu Ainabe and Mr. Kola Abumere at the Benin airport on their way to the dedication of the Ezekiel College of Theology, Ujoelen, Ekpoma in Edo State.

Jonathan has no plan to rig March 28 polls — Sulaiman By Emmanuel Elebeke

BUJA—MINISTER of National Planning, Dr. Abubakar Sulaiman, said weekend that President Goodluck Jonathan had no plan to rig next month’s general elections. He also described the President as a leader with a large heart. The minister made the declaration at a reception organised in his honour and other past deans by the Faculty of Social Sciences, University of Abuja mini campus, Gwagwalada. Sulaiman said the appointment of an activist in

the person of Prof. Attahiru Jega as chairman of the Independent National Electoral Commission, INEC, by President Jonathan was a demonstration of large heart of his leadership. He said: “One thing we should all know is that Jonathan does not have the plan to rig himself back. If he had or has that plan, he would not have appointed Jega, an activist, as the INEC chairman. Even on my appointment, Mr. President demonstrated a large heart. “This administration is working and the evidence is there. I will continue to do more for the university and I

can do better, and if you truly like me, vote to return Goodluck Jonathan. “I was an active unionist during my days as a university lecturer. I led a protest against the then vice chancellor, which we carried up to the government level, yet Mr. President decided, devoid of any sentiment, to appoint me a minister. It takes one with a large heart to do that.” In his remarks, the Vice Chancellor of the university, Prof. Mike Adikwu, commended the minister for putting the university first in the course of discharging his duties as a minister.

ASUP to commence indefinite strike Wednesday By Johnbosco Agbakwuru

BUJA — ACADEMIC Staff Union of Polytechnics, ASUP, weekend, threatened to embark on indefinite strike from Wednesday if the Federal Government failed to attend to all pending issues raised in its ultimatum. ASUP had on February 11, issued a two-week strike notice to the Federal Government to implement the agreement it reached with the union over four years ago, or it would compel members to down tools. Recall that the lecturers suspended an almost one year strike last year, following promises made by Education Minister, Ibrahim Shekarau, but the union said none of the items on their list of demands had been settled. Addressing journalists after its National Executive Council, NEC, meeting in Abuja, President of ASUP, Comrade Chibuzor Asomugha, also demanded the immediate dissolution of Governing Councils of Federal Polytechnic, Oko, in Anambra State and that of Ado Ekiti in Ekiti State for allegedly creating avoidable problems in their institutions. Some of the demands of ASUP which government had refused to attend to, according to Dr. Asomugha, include the continued discrimination against polytechnic graduates, both in the public service and the labour market in Nigeria and the non-release of white paper on visitation to federal polytechnics. The non-implementation of CONTISS 15 migration for the lower cadres and its arrears as from 2009 when salary structure was approved, the nonestablishment of a National Polytechnic Commission, NPC, and the “wrongful recognition” of the National Board for Technical Education, NBTE, as the regulatory body for polytechnics. The lecturers also want more funding for polytechnics, appointment of competent people into governing councils and adequate funding of state polytechnics by their various owners.

Vanguard, MONDAY, FEBRUARY 23, 2015 — 15

PDP campaign organ wants attack on Imo women investigated By Henry Umoru

BUJA—PEOPLES Democratic Party, PDP Presidential Campaign Organisation, yesterday urged the InspectorGeneral of Police, IGP, Suleiman Abba, to investigate alleged attack on some women in Owerri, Imo State by the All Progressives Congress, APC-led government. Addressing Journalists in Abuja yesterday, Director, Media and Publicity of PDP campaign Organisation, Chief Femi Fani- Kayode, said the Inspector-General of Police should act expeditiously on the petition by leaders of the groups of widows, by not only investigating, but arresting and prosecuting the masterminds. Fani-Kayode, who urged the presidential candidate of APC, General Muhammadu Buhari, Governor Rochas Okorocha of Imo State and other APC leaders to apologise to the women over the alleged brutalisation, said the APC men must purge themselves of what he termed, strong anti-women sentiments.

EBONYI GOV TICKET: Ex-Health Minister, Chukwu sues PDP ...Wants primaries annuled By Ikechukwu Nnochiri

B A K A L I K I — FORMER Minister of Health, Professor Onyebuchi Chukwu, has dragged the Peoples Democratic Party, PDP, to court, alleging that he was rigged out of the governorship primaries conducted in Ebonyi State on December 8, 2014. In an originating summons he filed before the Federal

High Court sitting in Abakaliki, the former Minister, through his lawyer, Chief Awa Kalu, SAN, applied for an order of the court nullifying the outcome of the primaries for being in breach of section 87 of the Electoral Act, 2010, and relevant provisions of the 1999 Constitution, as amended. He is also seeking for an order directing the Independent National Electoral Commission, INEC, to

expunge the name of the declared winner of the said primary poll, Chief Dave Umahi, from the list of the governorship candidates cleared for the 2015 general elections. Prof Chukwu formulated six questions for the determination of the court, among which included whether he was not entitled to participate in the December 8, 2014, primaries that was conducted in the state

OPENING CEREMONY: From left; Prince Ademola Dada, Chairman of Island Club; Senator Musiliu Obanikoro, former Minister of State for Defence; Governor Ayo Fayose of Ekiti State and Amb Yomi Akintola at the opening ceremony of the newly-refurbished Bar 2 of Island Club, Lagos.

by the Ebonyi chapter of the PDP, after he was duly cleared and screened for the exercise. He told the court that though he met all the requirements for the poll, the process was eventually skewed against him. He is therefore praying the court for an order directing the Ebonyi chapter of the PDP to conduct fresh primaries in the state. In an affidavit he deposed in support of the suit, Chukwu averred that he is a bonafide member of the PDP who resigned his appointment as Federal Minister of Health in response to public interest to contest governorship election. He said he obtained the expression of interest and nomination forms, before submitting himself to a panel by the PDP for the South East geo political zone in Enugu, which he said had screened and issued him a clearance certificate with registration number 0001273. The plaintiff told the court that while he was warming up to participate in the poll, he got the information that the Ebonyi State chapter of the PDP had substituted the authentic delegates list with a different list, an action he said was contrary to the guidelines of the party. He insisted that the said illegal delegates list was designed to produce a pre-arranged governorship candidate.

Otti urges IGP to probe alleged attack on Abia lawmaker By Anayo Okoli

MUAHIA—ABIA State Governorship candidate of the All Progressives Grand Alliance, APGA, Dr. Alex Otti, has called on the Inspector General of Police, Suleiman Abba, to investigate an alleged attack on Mr. Darlington Nwokocha, the member representing Isiala Ngwa South in the Abia State House of Assembly. Abia State Government had last week alleged that the attack on Nwokocha who is also the Peoples Democratic Party, PDP, House of Representative candidate for Isiala Ngwa North and South was carried out by security men attached to the APGA candidate. The government, through the commissioner for Information, Chief Anthony Agbazuere, had also accused Otti of going about his campaigns with uniform men who they said were fake soldiers. But Otti’s Campaign

Organization denied the allegation and called on the Inspector General of Police to investigate the allegation and let the truth be known. According to the Director

of Special Duties of Alex Otti Campaign Oragnisation, Chief Nwaka Inem, they had written a letter to the Inspector General of Police to

investigate the allegation “because of the tense political situation the campaign of calumny against the APGA candidate may generate.”

POLLS: NURTW roots for Okowa By Victor AhiumaYoung

GBOR—AHEAD of the 2015 general elections, members of the National Union of Road Transport Workers, NURTW, in Ika South Local Government Area of Delta State, have thrown their weight behind the governorship flag bearer of the Peoples’ Democratic Party, PDP, in the state, Senator Ifeanyi Okowa. Speaking in separate interviews in Agbor, the Branch A, Branch B and Branch C Chairmen of the union, Eddy Ofuani, Alex Orueh and Charles Agboje, said the union was prepared to give Okowa 100 per cent support at the poll.

To ensure this, the union Chairmen said they were ready to mobilize their members and their families across the different wards and communities in the area to cast their votes for the PDP gubernatorial flag bearer, saying adequate sensitization had been carried out by the union in their different branches. According to them, their choice for Okowa went beyond political affiliation/ loyalty, ethnic sentiments but the unwavering and rare political and administrative antecedents of the federal lawmaker. “We may not be partisan politicians, but sincerely, we have been following the political antecedents of Senator Okowa. This is a man who has been playing

the game of politics from the grassroots to his present status as Senator of the Federal Republic of Nigeria. “He started as council Chairman, three times commissioner in different ministries, Secretary to the State Government, SSG, Senator and now, God has ordained him to be the governor of this state, and we will give him our 100% support” the union chairmen said. The union Chairmen said they were confident that if given the opportunity to govern the state, particularly in the next four years, Delta State would witness massive socioeconomic transformation that would make it the envy of other state in the country.

16— Vanguard, TUESDAY, FEBRUARY 23, 2015

Biafran secessionists urge Igbo to boycott polls

Abia govt accuses opposition of heating up polity By Anayo Okoli MUAHIA—ABIA State Government has accused opposition parties of causing tension in the state through alleged “incessant dishing of falsehood” aimed at heating up the polity. The government insisted that

the state would remain peaceful despite the alleged attempt by the opposition parties and some perceived faceless groups to cause confusion in the state. Speaking through Mr. Charles Ajunwa, Chief Press Secretary, CPS, to Governor

Theodore Orji, the government cited a recent statement by a group known as “Abia Political Vanguard”, APV, which claimed Governor Orji and Peoples Democratic Party, PDP, that they were planning to rig the forthcoming elections and were denying opposition

DEPARTURE: From left: Mr Adeleye Williams, Director of Programmes, Technical Aid Corps, TAC, Mrs. Oladele Abiodun, and Protocol Officer, TAC, Mr Abdullahi Konoma, during the departure of 32 volunteers of Tecnical Aid Corps to University of Zanzibar, Tanzania, in Abuja, yesterday.

supporters Permanent Voters Cards, PVCs. According to Ajunwa, “it has become a past time for faceless groups and their opposition collaborators in the state to shout wolf when there is none. It is particularly worrisome and ridiculous that an amorphous group with an adopted name of Abia Political Vanguard, APV, would engage in a wild allegation of accusing Governor Theodore Orji and the Peoples Democratic Party, PDP, of planning to rig the forthcoming polls by depriving voters of their permanent voters cards, PVCs. “If there is any grand design to rig the forthcoming elections in Abia, it should be located in the realm where the so called President of APV, one Godson Umahi, and his cohorts reside and manufacture their falsehoods to deceive the public. It was unthinkable that Governor Orji, who has been mobilizing state resources to ensure that Abia voters obtain their permanent voters cards, PVCs, will turn round to disenfranchise the same people by depriving them of their PVCs. No Abia civil servant was asked to turn in his or her PVC” as alleged by Umahi, saying that the “government has rather continued to enlighten and educate the citizens to go to their different Local Government Areas to obtain their PVCs."

By Francis Igata

NUGU—THE ProBiafra group, the Biafra Zionists Federation, BZF, has called on Ndigbo to boycott the general elections scheduled for March 28 and April 11, 2015. The BZF said its call became necessary following the refusal of a Federal High Court sitting in Enugu to grant bail to 11 of its members standing treason trial. Speaking to Journalists in Enugu yesterday, National Chairman of BZF, Mr. Onyia Cyril, said any harm done to the detained BZF members was harm on Ndigbo in general and called on the people of South-East not to participate in the election as a show of solidarity to the detained activists. He said: “They have been in prison custody not because they are pursuing a selfish course but for the singular reason that they are demanding the liberation of Ndigbo. To this end, we urge all worthy Igbo sons and daughters not to participate in the forth-coming elections; this is the only honour they should do to these great patriots.”

Group wants security agencies to probe fake Igbo leaders in Lagos

A G O S — CONCERNED Igbo in Lagos State, weekend, called on security agencies to investigate the activities of individuals parading themselves as Igbo leaders in Lagos with a view to checking the nefarious activities of criminals in their midst. The group in a statement by its coordinator, Chief Nwike Ezeachi, claimed that a number of discredited Igbo men whose criminal records were well known had been masquerading as leaders with different appellations in the state and also extorting and deceiving fellow Nigerians in the name of Igbo leaders. According to Chief Ezeachi, “These unscrupulous elements have been extorting

huge sums of money from politicians in the state who are desperate to win elections. Unfortunately, these politicians do not know their criminal records. We are particularly concerned with one of them who claimed to be a leader in Ikeja area of the state. This man is wanted over a $250,000 scam committed in 2010 after he, together with members of his gang, advertised on the internet that they had used rail scraps for sale to interested buyers. A Turkish citizen, Yildirim Babadogan, had petitioned the Economic and Financial Commission, EFCC, in 2010 after a member of the gang operating with false identity, along with three others, swindled him of over $250,000 under the pretence that

they were selling used rail parts. He was sentenced to prisons and also asked to refund $35,000 to the Turkish national, while security agents were charged to track down other fleeing members of the gang. ‘’Unfortunately, while the police was able to arrest his accomplice, he managed to escape. The accomplice was later sentenced to 18 years imprisonment for obtaining money by false pretence. He had since completed his jail term and the refund of the money. This crook that was said to be at large is the same red cap chief parading himself today in Ikeja. We are using this opportunity to call on security agents especially operatives of the EFCC to take immediate steps towards arresting this suspect.”

Vanguard, MONDAY, FEBRUARY 23, 2015— —17

C M Y K

18 — Vanguard, MONDAY, FEBRUARY 23, 2015 AS dates go, 10 November 2012 may not have a place in our political history, but it was the day the House of Representatives held simultaneous peoples’ public sessions in Nigeria’s 360 federal constituencies – they all started at 10am. People offered their views on amendments to the Constitution, the only time the people have had a say in the making of the document that governs us. On 24 July, 2013, the House of Representatives voted in tandem with the people, another landmark of the amendments. The House Ad-hoc Committee on Constitution Amendment that Emeka Ihedioha, the Deputy Speaker, led, by engaging the people deepened participatory democracy which has been a slogan since independence. The people are only involved at elections, when their votes are required to keep people in office. State Houses of Assembly at their sessions to consider the amendments, which the National Assembly had passed, appeared to have favoured amendments that would serve legislators in the quest for more and privileges space to do their work, like the proposal for immunity from criminal and civil prosecution against members for what they say on the floor of parliament, including at

By Kolawole Olaniyan

HE joint report by the African Union (AU) and the United Nations Economic Commission for Africa (UNECA) on illicit financial flows from Africa has made good headlines. Some have described the report as “a turning-point”; others said its recommendations are “game changing,” and capable of addressing the problem both within Africa and globally. The report, produced by the High Level Panel on Illicit Financial Flows from Africa presided over by former South African president Thabo Mbeki was earlier this month overwhelmingly endorsed by the AU at its 24th Ordinary Session in Addis Ababa. Mbeki deserves credit for obtaining continent-wide endorsement for the report, and the panel’s recommendation that efforts to combat illicit financial flows be included in the post-2015 Development Agenda is timely, given the expected expiration of the Millennium Development Goals (MDGs) and the steps by the international community to adopt a fresh set of goals (Sustainable Development Goals), expected to be fulfilled over the next 15 years. The report also contains some useful recommendations on the importance of preventive measures and institutional and capacity building in combating illicit financial flows. But the panel’s narrowed notion of what constitute ‘illicit financial flows’ (IFFs) combined with a disproportionate focus on the responsibility of big corporations and

We, The P eople People committee sessions and financial autonomy for legislative houses, pension for their leadership. However, the State Assemblies rejection of autonomy for local government administration, the ever abused third tier of government, is unexplainable. Other amendments that the State Assemblies affirmed were: • Indigenship rights of a State to a Nigerian citizen who has resided in a particular community of a State for a continuous period of not less than 10 years. The proposed amendment runs against the more generous provisions of the Constitution for Nigerians to be shielded from

discrimination and enjoy the same rights everywhere they decide to live. It would create situations where some citizens of Nigeria would be denied rights classified as “indigenship rights” and the absurdity of citizens having fewer rights than indigenes. • Rights to free, basic education and right to free primary and maternal health care services In Chapter 2 of the Constitution were changed moved to Fundamental Human Rights to make them justiciable. This amendment would make governments more responsive to the education and health needs of the people. • Independent candidacy in elections would create more platforms for political expression. The National Assembly would legislate on procedures, guidelines and qualifications for independent candidates. • The three-month limit for the Federation or a State to operate without an Appropriation Act in any new financial year would generate more accountability than the current six-month provision. In all, these amendments, and others are meaningless until governments become more about “ we, the people”. Governments have run for too long without the people.

OPINION That Thabo Mbeki's financial report ‘organized criminals,’ while seemingly minimising the primary responsibility of African governments and leaders, suggests that much more is still required to effectively combat IFFs in Africa. I agree with the report’s finding that Africa has to address the wider systems that create IFFs in the first place. Yet, that is just one part of the story. The panel’s scanty treatment of fundamental questions about the nature of IFFs, especially grand corruption, and the impunity of high-ranking government officials that continues to provide the incentives for IFFs to flourish, is a wasted opportunity to rethink how Africa deals with the impunity dimension of IFFs. While the panel’s definition of IFFs as “money illegally earned, transferred or used” seems robust enough to cover a wide range of illicit activities in equal proportion, its quantification of corruption as amounting to just 5% of the $50 billion

Grand corruption poses a serious threat not only to African citizens and their communities, poses a serious threat not only to African citizens and their communities

lost to IFFs each year is, to say the least, highly debatable. The panel’s calculation suggests that just around $2.5 billion of the $50 billion of IFFs account for corrupt funds. In contrast, commercial activities account for 65% while other criminal activities take 30%. But the panel’s figure contradicts even the $18 billion that the AU once told us is stolen each year from Africa. The panel should have probed further the responses to its questionnaires that suggest that “corruption is the greatest source of IFFs from the continent.” Further, the panel’s terms of reference broadly called for it to determine the nature and patterns of illicit financial outflows from Africa but the panel would appear to have perhaps somewhat disingenuously redefined its own terms of reference by choosing to focus on the responsibility of large commercial corporations and organized criminals rather than carefully assessing the responsibility of senior government officials in IFFs. It looks like an effort to push policy down one particular, limited track without a sufficient treatment of the leadership question. This approach seems politically expedient but it has done a great disservice to the citizens of Africa. The approach also buttresses the impression among African citizens that their governments and ‘leaders’ generally are soft on corruption and soft on the causes of corruption.

The panel’s recommendation that the mandate of the AU advisory board on corruption (established pursuant to article 22 of the AU Convention on Preventing and Combating Corruption) be expanded to cover IFFs ignores the many problems currently besetting the board. Yet, any potential role for the board with respect to IFFs must first resolve some critical issues such as allegations of mismanagement among its leadership, and the fact that its advice are routinely rejected by states. The board also doesn’t have a structure of its own, but is housed within a small department in the Secretariat of the AU Commission in Addis Ababa. To be sure, grand corruption (a generic term used to describe large-scale embezzlement of public funds, illicit enrichment, bribery, trading in influence and abuse of office, all at the highest level of government) poses a serious threat not only to African citizens and their communities, through for example, lives blighted by poverty, inequality and societies living in fear, poses a serious threat not only to African citizens and their communities, which can undermine the democratic and economic basis of societies, and thereby leading to a loss of confidence in the rule of law.

Continues tomorrow •Mr. Olaniyan, is author of 'Corruption and Human Rights Law in Africa'.'

Vanguard, MONDAY, FEBRUARY 23, 2015— —19

Corruption, stealing and 2015 politics By Adeyemi Johnson

T is amusing that when the President, Goodluck Jonathan, said corruption should be called by its true meaning, “stealing”, there were people who had a lot of disagreement with it. While there may be very sophisticated definitions and understanding of corruption, there is no doubt that with most Nigerian communities, the meaning is clearer when you say “ a man is a thief” than when you say “ a man is corrupt”. To say a man is corrupt in a law court in Nigeria may have distinct meanings, but on the street, it may be confused with several perceptions. He may be thought to be involved in sundry other matters such as being a regular patron of brothels, mixing low quantity and quality of cement while embarking on the construction of a public building, knocking in the bottom of a metal cup for selling rice or beans to the public, tampering with the metering of petrol pumps, etc; these are all diverse forms of corruption and fall into the different forms of fraud which may be motivated by corrupted values. But when the political parties say they want to fight corruption, clearly what they have in mind is the huge amount of public funds used for private gain and, no other words explains it better than “stealing”. If we fight public stealing, the fight against corruption will be

better directly conceptualised for Nigerians, and in that sense the President is very accurate. But if we want to play on the sophisticated understanding of words, then we have a big problem, particularly with the position of the All Progressives Congress, APC, presidential candidate who has anchored his campaign on fighting corruption because the different definitions of corruption will throw up many contradictions on how the APC and its presidential candidate can truly fight corruption. If we take corruption by its common definition, as the misuse of public power by elected or appointed officials, it is difficult to see how Muhammadu Buhari can be an advocate of that. The crudest misuse of power on record in Nigerian history are attributable to Generals Sani Abacha and Buhari. In one case Gen Buhari was also complicit by working under Abacha as a Chairman of the agency to which most of the petroleum resources in Abacha’s era were directed, the Petroleum Trust Fund, PTF. In that PTF, the fight against corruption will require that the agency ought to invite bids for consultancy services to determine how its projects were awarded. But on record Buhari reportedly appointed his in-law, the late Salihijo, without even a reference to or consultation with the PTF board, an issue that led to the resignation of a former Governor

of the defunct Kaduna State from the board of the PTF. In the conduct of the appointed consultant at the PTF, it has been revealed that several cases of the misuse of private funds for public gains were rife, including overinvoicing and misapplication of fund outside the remit of the PTF. Therefore, can a man who appointed his relative without proper procedures, approved irregular tenders and then failed to manage corruption at the PTF claim to be the best advocate of anti-corruption?

If we take corruption by its common definition, as the misuse of public power by elected or appointed officials, it is difficult to see how Buhari can be an advocate of that

If we were to take another definition of corruption as acts that are immoral or incompatible with ethical standards, we are forced to look at the empirical evidence for trusting Gen Buhari to defend such values. It is a matter of public record that the late Fela Anikulapo-Kuti was jailed for 18months by Buhari, but Fela was later freed by the Gen Ibrahim Babangida government when it was revealed that the presiding judge in the case went to the hospital where Fela was being treated to apologise to him, pleading that he only convicted Fela because he was forced to do so. To suborn a judge to jail an innocent man is the lowest form of immoral corruption. But even worse, how can we rate on the corruption scale, the refusal to respect an acquittal by a judge? The same Gen Buhari refused to obey the acquittal of Pa Ajasin, and he did this three times after several acquittals. Is this not grossly corrupt? Again since the proponents of Buhari’s candidacy want us to examine all the sophisticated dimensions of corruption and ignore its literal meaning of “stealing” in our context, let us examine another definition of corruption which describes it as any abuse of a position of trust to gain an unfair advantage. Using this definition, we should look at two acts of Buhari and Idiagbon during their tenure in government. These leaders

PwC’s Forensic audit report on NNPC: Matters Arising

By Baridon Leton

HE long-awaited report of the forensic audit of the Nigerian National Petroleum Corporation (NNPC) which the Federal Government hired PricewaterhouseCoopers (PwC) to conduct has finally been released. As with almost everything in these political times, the forensic audit was elevated into a campaign issue when some politicians began to raise questions about why it was taking so long for the report to be released, insinuating that it may have been swept under the carpet by an administration they believe has a proclivity for supporting corruption. The release of the report has defused all such impressions imagined or real. The idea of a forensic audit of NNPC was the brainchild of the Coordinating Minister of the Economy and Minister of Finance, Dr.Ngozi Okonjo-Iweala, who suggested during the Senate probe of the allegation of non-remittance of $49.8bn oil revenue into the Federation Account levied by the former Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, against NNPC. Dr.Okonjo-Iweala had submitted before the Senate Committee on Finance that considering the level of interest and controversy that the allegation had generated it was good to have a forensic audit carried out on NNPC’s books to get to the bottom of the issue once and for all. In order to understand the issues raised and the recommendations made in the PwC forensic audit report, it is pertinent to note that the starting point of the issues that led to the audit was the allegation of unremitted $49.8bn revenue from crude oil sales between January 2012 and 31 July 2013. Though the former CBN Governor (now Emir of Kano) who made the allegation had variously changed the figures of alleged unremitted revenue to $10.8 and $20bn, it must not be forgotten that he started the allegation with $49.8bn.

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The summary of the forensic audit report which the Auditor General of the Federation, Mr. Samuel Ukura, presented to the public recently indicated that the allegation of unremitted $49.8bn, $10.8bn or $20bn was false. The report was emphatic that the total amount that accrued from crude oil lifting was $67bn out of which a total of $50.81bn was remitted into the Federation Account. The balance, the report stated, was used for petrol and kerosene subsidies and NNPC operations expenses.This position as reflected in the forensic audit report is consistent with the position that NNPC has always canvassed regarding the alleged “missing oil revenue”. The other issue thrown up in the forensic audit report is the $1.48bn which the audit firm recommends that NNPC should pay into the Federation Account. This is where there has been so much misunderstanding which led to the various screaming headlines that the report indicted NNPC. The $1.48bn, according to the report, is “unremitted NPDC signature bonus due for divested assets and taxes/royalties”.

The recommendation that NNPC/NPDC should remit the outstanding signature bonus to the Federation Account does not amount to indictment in anyway as the amount is not part of the original amount alleged to be missing or unremitted

It needs to be stated that signature bonus, taxes and royalties on the divested assets were not part of the crude oil lifting revenue which the original allegation of “missing $49.8bn oil revenue” was about. Signature bonus is the book value of oil assets. It is usually determined by the Department of Petroleum Resources (DPR) based on certain parameters. What happened in the case of the divested oil blocks by Shell and which were assigned to the Nigerian Petroleum Development Company (NPDC), the Exploration and Production subsidiary of NNPC, was that DPR estimated the book value of the oil blocks to be $1.847bn. NNPC raised concerns with the parameters used for computing the book value of the assets. While the issues were being reconciled with the DPR, NNPC went ahead to pay over $300m as a token to indicate its interest in acquiring the blocks pending when the issues it raised over the parameters used in calculating the signature bonus were resolved. This much was explained by the Group Managing Director of NNPC, Dr. Joseph Dawha, at a press conference recently. The point in the above explanation is that the $1.48bn is distinct from the revenues from oil lifting between 1st January 2012 and July 2013 which the allegation of unremitted $49.8bn was all about. This distinction helps to highlight the error in the interpretation of the recommendation of the forensic audit report with regard to the remittance of the $1.48bn made in some quarters that NNPC was indicted in the report. The recommendation that NNPC/NPDC should remit the outstanding signature bonus to the Federation Account does not amount to indictment in anyway as the amount is not part of the original amount alleged to be missing or unremitted. And the fact that NNPC had already commenced payment of the signature bonus as indicated in the PwC forensic audit report shows that it actually had the intention to pay the money as soon as the

prohibited Nigerians from travelling abroad on pilgrimage with under-aged children, and imposed an austerity measure which forbade Nigerians from spending foreign exchange for foreign trips. But did these laws and measures apply to them? No way! Idiagbon went to Mecca with his under-aged son, Rafindaddi. While the respected diplomat Ambassador Olisemeka in recently trying to burnish Buhari’s image, inadvertently revealed that Buhari sent his wife and kids to Washington for medical care under the Nigerian High Commission for a lengthy period which only ended after he was kicked out of office. Normally this should not be an issue, being a medical trip, but when you make one law for others but take advantage of its loopholes for your private needs, is that not a form of corruption? How many Nigerians with similar medical needs were given similar opportunities by Buhari while he was in power? Even worse, Buhari has no sense of remorse for his corrupt failings. Asked recently by Christine Amanpour on CNN what he thought of this corrupt past, rather than apologise, he claimed he was being harshly judged. Indeed, in any Nigerian community when you say “that man is a killer” as many have said in regard to the judicial murder of Ogedengbe and others, no one will crown you a champion of anticorruption, let alone elect you president. •Mr. Johnson, a public affairs analyst, wrote from Lagos.

concerns it raised over the parameters deployed in calculating the bonus were resolved. In any case, the Minister of Petroleum Resources, Mrs. Diezani AlisonMadueke, has directed NNPC to pay the outstanding $1.48bn forthwith. The other issue which the report has thrown up has to do with the extant laws and business model which NNPC is constrained to run. The report recommends that the NNPC Act which “provisions contradict the requirement that NNPC be run as a commercially viable entity” must be reviewed as a matter of urgency. The report highlighted the fact that the issue of deduction of its operation costs and expenses from crude oil sales proceeds by NNPC for which the Corporation is pilloried daily is a legal issue made possible by the provisions of the NNPC Act which established the Corporation. The audit firm recognized and recommended that the way to go about correcting the anomaly is to review the legal framework and thereby the business model of the Corporation. This once again underscores the need to urgently pass the Petroleum Industry Bill (PIB) which has been in the works in the National Assembly for upwards of five years. In fairness to NNPC, it has commenced a Transformation Programme aimed at retooling its structures and making it more commercially focused ahead of the postPIB era. The duty of passing the Bill does not lie with the NNPC but with the National Assembly. It is in the interest of all Nigerians for the PIB to be passed expeditiously to free NNPC to run as a commercial entity as recommended in the PwC report. Until the PIB is passed to provide a legal foundation for the reforms recommended in the PwC report the nation will not be completely rid of allegations of unremitted revenues, the type that led to the long inquisition that has been fortunately laid to rest with the forensic audit report conducted by PwC. •Mr. Leton, a human rights activist, wrote from Port-Harcourt, Rivers State.

20—Vanguard, MONDAY, FEBRUARY 23, 2015

LECTION rigging is not just about falsification of the results of elections, snatching of ballot boxes, illegal thumbprinting of ballot papers or announcement of results different from the expressed wishes of the electorate. Any action that violates the Electoral Act will automatically result in election rigging. Any act that renders an electoral contest not FREE, FAIR and CREDIBLE means the election has been rigged. Free means every eligible voter is given full opportunity to register, obtain his voter’s card, given unhindered access to relevant information to enable him choose whom to vote for (voter education), and on voting day, is not hampered in any way while exercising his electoral franchise. Fair means that the conditions for the electoral contest are the same for all the political parties, candidates and the voters, and that no one is favoured above the rest. No obstacle is deliberately placed against anyone involved in the election from achieving his constitutionallyguaranteed political ambitions and rights. Credible means that an electoral process is not only free and fair but also seen to be so. The process must produce a result that squares with the general wishes of the people, and must be acknowledged and applauded both by the stakeholders and third party observers as acceptable. The credibility of an electoral process is what gives those elected through the process LEGITIMACY, or the approval of the people to form the government and govern with their consent. Free, fair and credible elections can only take place when all the stakeholders to an election – the Electoral Commission, political parties, voters, the Media, security agencies and so on – play their roles in accordance with the laws of the land, especially the Constitution and the Electoral Act. In the history of Nigeria, the only election that was considered free, fair and credible was the June 12, 1993 general election that Chief Moshood Abiola won, though it was annulled by the military government of General Ibrahim Babangida. The people of Nigeria forgot their regional, ethnic and religious differences and came together to give their mandate to Abiola. The only other election that came close to it in terms of being free, fair and credible was the 2011 general election that produced President Goodluck Jonathan. Also, Jonathan, a Minority element, was able to garner a landslide victory with over 22 million voters, failing to score the mandatory 25 per cent only in one state: Borno. There is a phenomenon that has been at play in the Muslim North but which, for

How the rigging odds favour Buhari some queer reasons, no one seems interested in raising serious objections. It is the ugly incidence of child voters. And it is going to be a big factor rigging the forth-coming presidential election in General Muhammadu Buhari’s favour. On April, 27,2007, I covered the presidential election in Katsina State because two of the major contenders for president – Yar’ Adua and Buhari – were from the state. When we went to monitor the elections I was shocked to find that a large number of the voters on the queues were children as young as eight years old! As I watched the electoral officials accredit and issue ballot papers to these minors to vote without the slightest raising of eyelids, I walked up to a presiding officer and asked him why he was allowing children to vote. He looked up from his

There is a phenomenon that has been at play in the Muslim North but which, for some queer reasons, no one seems interested in raising serious objections. It is the ugly incidence of child voters

work and gave me a blank stare but kept mute. I received a lot of hostile glances, and a colleague came and whispered that I should drop the issue. I had no choice, knowing the situation could rapidly turn into something else, especially in the heart of Arewa North. Now, you could argue that since all the three main presidential contestants – Yar’ Adua of the Peoples Democratic Party (PDP), Buhari of the All Nigerian Peoples Party (ANPP) and Atiku Abubakar of the Action Congress of Nigeria (ACN) – were Arewa Northerners, they shared the unholy largesse of unqualified, under-aged voters among themselves. But this time, those illegal voters unpatriotically registered by the Independent National Electoral Commission (INEC) are going to be unleashed mainly for Buhari. It is estimated that no less than three million child voters are headed to the polls in Arewa North. These illegal voters, added to imported foreigners from Chad, Niger and Northern Cameroun are chiefly responsible for the consistently large number of voters recorded in favour of North West and North East. These are the things that baffle watchers who wonder why it is only in Nigeria that more population figures (including registered voters) are reported in favour of semi-desert zones over and above the coastal and rainforest zones which, in other parts of the world, are usually more populated. Another area of pre-election rigging is the issue of internally displaced persons who are fleeing for their lives from violence, threats of violence and terrorism. There are numerous camps in the North, especially Maiduguri, Yola and Abuja harbouring our countrymen and women uprooted from their homes by agents of darkness. Maiduguri alone is said to have seventeen IDP camps, and

governments (both federal and state) are doing their best in the circumstances to cater for them. The INEC also has been making arrangements to enable them vote in their camps during the elections. But there are other types of IDP’s that are often not spoken about, let alone INEC making preparations to enable them cast their votes. Apart from Northerners who are hiding up with their relations and friends outside the IDP camps or migrated down South, there are thousands of Southerners, especially Igbos, who have also moved, or are planning to move, away from the volatile North for fear of being attacked if Buhari loses the presidential election. Majority of these people are assumed to be supporters of President Jonathan, while majority of the IDP’s in camp across the North are perceived to be pro Buhari. Nothing has been said by the INEC about ensuring that those who fled the North will be given an opportunity to cast their votes. Somebody is going to benefit unfairly from the exodus for fear of violence in the North. That is rigging. Another form of rigging, which is pointedly ranged against President Jonathan, is the continued destruction of his campaign buses, posters and banners in Arewa North, coupled with the series of personal attacks aimed at him during the electioneering campaigns. Meanwhile, his opponent, Buhari, had a smooth ride throughout the South and North Central, non-Muslim Nigeria. He was even given a chieftaincy title in Aba! Jonathan has not enjoyed a level playing field in Northern Nigeria. Terrorism, threats, intimidation, violence and personal attacks have been deployed to undermine him and harass his supporters. These are machinations put in place by enemies of the North masquerading as Northern leaders, and many of them are actually behind the Boko Haram terrorists. Yet, the president has favoured the North more than any other zone in terms of appointment, distribution of projects and government largesse. This is the first time that a sitting president seeking re-election has been turned into an underdog, a victim, in any part of the country. President Jonathan’s gentle disposition and refusal to kick his political opponents in the groin as Obasanjo regularly did could very well become his undoing. These and other factors that constitute preconditions for rigging of the forth coming polls must be addressed. A government that emerges from this unacceptable situation will be ILLEGITIMATE.

OPINION Itsekiri's collective reasolve

By Okofu Ubaka

HERE is no doubt that “the taste of the pudding is in the eating”. Leadership is best appraised when an individual is placed under close watch before he or she was given responsibilities, during the period of assumed or relieved of such responsibilities. The essence is to check for competence, humility and element of arrogance (if any) usually associated with power. The litmus test here is the individual’s attitude towards the led, his or her overall carriage. How passionate he or she had been for a course which might affect the happiness of the people been represented. Among the Itsekiris, only a few persons had shown such knife-cutting passion, dexterity and committment to the pains of the people of their local constituency. The subject of this write up is Hon. Prince JFK Omatsone, a one time Speaker of Delta State House of Assembly during James Ibori’s first term in office as the Governor of the State. Without undue exaggeration, Hon. Omatsone, during his days in office was able to give the Itsekiris a sense of representation. Unless, we do not wish to say the truth, he created a bridge which terminated the notorious and obnoxious vacuum between leadership and the ordinary Itsekiri man in their various communities. He demonstrated leadership in the full meaning of the word. His office and private homes both at Asaba and Warri was opened for the better part of a day to people who wished to see him. He was so accessible when it came to issues affecting the entire Itsekiri nation which was his constituency at that time.

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Time may not have been on the side of Hon. Omatsone to have him ranked alongside Late Festus Okotie-Eboh (19191966) and Pa. Alfred Rewane (1916-1995) albeit he has been able to prove to his people that he is capable of stepping into the shoes of the former if given all the leverages to represent his people. However, the crop of people who have hijacked and ascribed to themselves leadership roles for Itsekiri could pass for jobbers. Else, how can one come to terms with a situation where a palace chief and a political leader in Warri- North had the back of a Toyota Hilux truck stocked with 50 pieces of machetes in Koko during the chairmanship elections in Delta State? Recently, some of these ‘leaders’ rolled out drum war on the pages of some national dailies over misappropriation of funds meant for employment of youths in three Itsekiri council areas. If one may ask, is this the kind of leaders that can reposition the Itsekiri nation? The time is now for serious minded fellows, not miscreants and charlatans to be in charge. Whether we like it or not, we are in an era of reconstruction, reconciliation If we must and reorientation. This has make become imperative in view of the destruction and headway in devastation, the senseless 2015, political Warri crisis had on the economy and psyche of the parties Itsekiris and her neighbours. should not be My opinion is that the likes of bases for our Hon. Omatsone are just what we need to achieve the goals votes

of reorienting and rebuilding the Itsekiri nation. Cynics may be curious to know, what the Honourable did in his days in Office in State House of Assembly that he is aspiring to go to the Senate on the auspices of Delta South Senatorial district platform? I am not a politician, but as a keen observer of our political terrain, I have one or two points to make on the subject. First, Hon. Omatsone was a lawmaker and not an executive who controls vault. His greatest achievement as a member of Delta House of Assembly was that he was a voice, and still one for the Itsekiri. We did not hear, and still have not heard of any accusation of financial misappropriation and misrepresentation leveled against him. What Hon. Omatsone lacked in size, was made up for in might and astuteness. The Itsekiris are too important to the survival of the Nigerian nation not to have a voice at the Senate. On the national front, little or nothing is been heard about the monstrous environmental challenges plaguing various Itsekiri communities. Also, nothing is being said and done about the massive unemployment among Itsekiri youths in spite of the heavy presence of oil exploration companies in Warri and the environs. This is the time to chart a new course because Hon. Omatsone is Itsekiri collective resolve. If we must make headway in 2015, political parties should not be bases for our votes. The corrupt majority have hijacked the tickets of the big parties, thus, denying a few sincere and credible candidates the platform to represent the people. *Mr. Ubaka, a social critic, wrote from Koko, WarriNorth LGA, Delta State.

Vanguard, MONDAY, FEBRUARY 23, 2015—9

7-year-old female suicide bomber kills 5, injures 19 in Potiskum A

BUJA— A seven-year-old girl, yesterday, killed herself and five others in a suicide bombing in Potiskum, Yobe State. This came on day the Nigerian defence headquarters said the Nigerian troops fighting the insurgent group, Boko Haram, have reclaimed the town of Baga and other surrounding communities in Borno state after days of fierce fighting. The suicide attack on a market in the city of Potiskum is the latest in a string of suicide strikes in which children have been used. Nineteen people were injured in the blast in Yobe State’s commercial capital, a vigilante leader, Mr Buba Lawan, told AFP. “So far, five people were killed with the girl while 19 others have been taken to hospital for injuries,” Buba Lawan said. A hospital source speaking on condition of anonymity confirmed the dead and the wounded count. Yesterday ’s bombing in Potiskum was the second suicide attack in or near the market where new and second-hand phones are sold and repaired. The first attack occurred January 11, when two suicide bombers — one of whom appeared to be around 15 — blew themselves up outside the market killing six people and injuring 37 others. Before yesterday’s strike, suspicious security guards and vigilantes said they tried to prevent the girl, who witnesses said appeared around seven, from entering the market. According to Lawan, “ we sent her back four times, because given her age, she did not have anything to do in the market. When we were screening people, she bent and tried to pass under the ropes, some distance from our view. That was when the explosives went off.” In a sign of the distrust generated by the suicide campaign, Lawan said “ we have barred women from entering the market to prevent further attacks.”

Troops reclaim Baga Meanwhile, Nigerian troops have reclaimed the town of Baga and other surrounding communities in Borno State after days of fierce fighting, the Nigerian defence headquarters has said.

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zTroops reclaim Baga, other communities in Borno zCapture Shekau alive, troops urged

Stock market rebounds as investors regain N600bn in 5 days By Peter Egwuatu

FORUM: From left: Marketing Manager, Wealth, Stanbic IBTC, Mr. Dapo Martins; Executive Director, Social Media Week Lagos, Mrs. Ngozi Odita and Head of Business Banking, Stanbic IBTC Bank, Mr. Lloyd Onaghinon at a forum in Lagos to mark the 2015 Social Media Week. Director of Defence Information, Major General Chris Olukolade, in a statement on the Baga operation said a concerted air campaign by the Nigerian Air Force was ongoing in the forest to clear the terrorists from their enclaves. He said air strikes, targeted at the training camps and logistics dumps of the terrorists in Sambisa forests and parts of Gwoza were “highly successful,” adding that a high death rate was recorded on the side of the terrorists while many others were scampering out of the areas invaded by the military.

Capture Shekau alive, troops urged Following the spate of recent successes recorded by troops against Boko Haram insurgents in the north eastern parts of the country, Nigerian troops have been put on red alert for any insurgents’ leader bearing the name of Imam Abubakar Shekau who is believed to be desperately looking for escape routes. A senior military source, however, informed PRNigeria, government information network, that troops have been urged to try at all costs to capture Shekau alive so that he would face justice. On at least two occasions

now, troops have killed characters calling themselves Abubakar Shekau in videos but the insurgents manages to find other individuals looking like him and pretend that he was still alive. The order to catch Shekau alive is, therefore, to ensure that it will no longer be possible to resort to the same trick. According to sources, the rumour about Shekau’s invincibility was one of the factors why troops were afraid to confront the terrorists. The troop’s morale has also been greatly boosted in recent times by arrival of sophisticated armaments and the decision of senior military officers to lead the war against terror directly which also influenced the change of some commanders. An intelligence sources disclosed that some of the successes recorded in recovery of big towns in the North-East were due to deployment of new strategies, improved disciplinary measures, and sincerity of participating countries in the regional alliance and the acquisitions of latest equipment. In the past, Colonels have led direct attacks in accordance with military

tradition but because of the large scale desertions recorded, Military Generals then decided to directly lead the war and this has greatly boosted morale. It was even learnt that many of the troops that earlier deserted have returned while others have expressed desire to return to the front.

Communities recovered Within a week of the massive operation, the troops have recovered Monguno, Marte, Gamboru Ngala, Dikwa among other big towns and several surrounding communities in Borno State. The source added that “ with acquisition of new equipment from various sources and the specialised training of the troops on guerrilla warfare, the military indirectly called the bluff of some deceptive western countries who are now trying to save face by claiming to work with our neighbours. “The effective collaboration and mutual relationship with our neighbours is paying off as they now realise that inactions can pose disasters to their countries too,” he concluded.

AGOS — THE Nigerian stock market rebounded last week as investors recovered N600.153 billion in five trading days in contrast to the N594 billion lost penultimate week. Specifically, all the stock market performance indicators throughout last week went up, with the market capitalisation, which represents the total value of shares traded on the Nigerian Stock Exchange, NSE, which closed at N9.804trillion on Friday as against N9.204 trillion recorded the penultimate week. The All share index, another significance performance indicators of the stock market, increased by 1,798.67 points from 29,383.93 points penultimate Friday to close at 27,585.26 points last Friday Operators had attributed the rebounds recorded in the stock market to the closure of the Foreign Exchange, FOREX, market by the Central Bank of Nigeria, CBN, where Naira was devalued to N198 to a dollar, as well as investors taking advantage of the falling prices of shares. The CBN had last week closed both the Retail Dutch Auction System (RDAS) and Wholesale Dutch Auction System (WDAS) foreign exchange window, thereby leaving the interbank foreign exchange market as the only official foreign exchange market. The decision, according to CBN, became necessary given the wide gap between the rates at the CBN official exchange market and the interbank market; a development which analysts said largely fuelled the current speculative activities in the foreign exchange market in the country. For instance, why Naira was exchanged for N168N174 at the CBN official market, the rate hovered around N198-N199 at the interbank market last week. Analysis of the stock market last week shows that the All Share Index gained 0.35 per cent on Friday to close at 29,383.93 points as against 29,282.04 recorded on

FEBRUARY 23, 2015 BY OMOH GABRIEL, BUSINESS EDITOR

he Nigerian economy is facing huge financial haemorrhage as politicians, corporate bodies and foreign investors are moving funds massively out of the country as well as from Naira to dollar. In a survey of payments made by the CBN on behalf of the public, a total of $22.1billion went out of the country in five weeks, an average of $4.5 billion a week. While about $3.083billion went out in the week ending 31st July 2014, the amount of foreign exchange flowing out of the country rose to $4.2 billion for the week ending 30th August. It however dropped to $4.1billion on the 30th of September and moved astronomically to $5.29 billion for the week ending 31st October 2014. The foreign exchange outflow went further up to $5.35billion for the week ending November 30th. This capital flight has resulted in the crash of the Naira exchange rate which had remained stable before the election and the crash of the international crude oil price. But CBN has attributed the collapse of the Naira at the inter-bank to currency speculators who buy and hold currency for them to sell at a future date to make some gain. The movement of funds out of the country comes by way of Nigerian residents buying up dollars with their Naira and moving it offshore. The trend became more noticeable in July 2014 where in fact, in a matter of weeks, several billions of dollars were purchased through the banks and bureaux de change. The movement of funds is noticeable from CBN records of direct remittances, whole Dutch Auction sales of dollars etc. According to data obtained from CBN in the five weeks, the total amount of foreign exchange that went out through direct remittances amounted to $3.33billion, Debt service/payment — $155million. The bulk of the outflow went through the wholesale at the Dutch Auction market where a total of $18.6 billion was purchased from the CBN. Curiously, foreign exchange purchases backed by Letters of credit in the five weeks amounted to just $108.8 million. C M Y K

Capital flight: Economy hard hit by $22.1bn outflow in 5 weeks •Average of $4.5bn goes out per week •$18.6bn was purchased from RDAS in 5 weeks Capital flight has led to the depletion of Nigeria’s foreign reserves, thus weakening the Naira. Nigeria’s foreign exchange reserves, which was $5.4 billion in 1999, rose to an overwhelming level of $51.3 billion at the end of 2007 and further to $53.0 billion in 2008, but owing to the crash in the international price of crude oil in 2008 and the aftermath of the global financial crisis, the reserve declined to $42.4 billion in 2009, further declined from $38.138 billion at the end of April 2014 to

$33.04 billion in February 2015. Market operators are however seeing it from the perspective that the reduction of credit line to Nigeria banks by their foreign counterparts as a result of the crash in crude oil prices and the uncertainty surrounding the 2015 elections is partly responsible for the high volume of funds leaving the country as the usual 90-day trade credit line has dried up in some banks which have had to meet the needs of their customers through

direct cash payments. CBN on Wednesday last week scrapped the Retail and Wholesale Dutch auction of foreign exchange saying that all genuine importers should source funds from the interbank market. It however said that it will continue to intervene in the inter-bank foreign exchange market. The apex bank in a statement signed by its Director of Communication, Mr. Ibrahim Continues on page 22

VISIT - From left: Prince Olayiwola Shittu, National President, Association of Nigerian Licensed Customs Agents; Dr Joseph Odumodu, Director-General, Standards Organisation of Nigeria, SON; and Mr George Okere, Director, Special Duties during a courtesy visit by the SON Director-General to the National Secretariat of Association of Nigerian Licensed Customs Agents in Lagos. C M Y K

22 — Vanguard, MONDAY, FEBRUARY 23, 2015

Cover Story

Vocation and technical education – A key to improving Nigeria’s Development

LIGHTS UP FOR CANCER: From right, Retail Cluster Head, Ikeja, of First City Monument Bank (FCMB) Limited, Mrs. Olubukola Akintade; the Chief Executive and Principal of Grange School, Lagos, Mr. Graham Stothard and a staff of the School, Mrs. Olufunke Sotunde, at the annual charity event tagged, ‘’Lights Up for Cancer 2015’’, organised by Grange School and supported by FCMB in Lagos.

Capital flight: Economy hard hit by $22.1bn outflow in 5 weeks Continues from page 21 Mu’azu, said: “The managed float exchange rate regime, which the bank had adopted following the liberalisation of the foreign exchange market, has for the most part been successful in ensuring exchange rate stability in line with its mandate. “In recent times, however, with the sharp decline in global oil prices and the resultant fall in the country’s foreign exchange earnings, the bank has observed a widening margin between the rates in the inter-bank and the RDAS window, thus engendering undesirable practices including round-tripping, speculative demand, rentseeking, spurious demand, and inefficient use of scarce foreign exchange resources by economic agents. “This has continued to put pressure on the nation’s foreign exchange reserves with no visible economic benefits to the productive sector of the economy and the general public. “In view of the foregoing, it has become imperative that appropriate actions be taken to avert the emergence of a multiple exchange rate regime and preserve the country ’s foreign exchange reserves. “Consequently, we wish to inform all authorised dealers and the general public that, with effect from the date of this press release, the Retail Dutch Auction System (RDAS/WDAS) foreign exchange window at the CBN is hereby closed. Henceforth, all demand for C M Y K

foreign exchange should be channeled to the INTERBANK FOREIGN EXCHANGE MARKET. For the avoidance of doubt, all authorised dealers and the general public should note that the CBN will continue to intervene in the inter-bank foreign exchange market to meet genuine/legitimate demands. In a flash note to investors, Afrinvest, an institutional investor said: “This is a positive development as we have always clamoured for a one-way quote to reduce speculation and unhealthy malpractices. The development can be tagged a tacit devaluation of the Naira given that the CBN will sell at the pre-existing inter-bank rates. As a result,

This decision is expected to compel the banks to look more inward and focus on real banking generating activities so as to improve their bottom line we expect to see some stability at the inter-bank market in the short term as there will be no incentive to round trip or speculate given the minimal spread between the inter-bank rate and the parallel market. In addition, the banks will likely forfeit the huge spread earned on forex trading as offer will be filled on “demand basis”. “Whilst this move may suggest that the CBN has jettisoned the managed

floating exchange rate regime, we note that the new system still appears to be linkable to a “guided floating exchange rate” as prices will be market-driven. "However, the banks will still be able to play at the inter-bank window alongside CBN’s intervention as may be genuinely or legitimately required. “On the economy, this decision may reduce the pressure on the exchange rate in the interim. However, foreign investors may still remain wary of foreign exchange risks in view of depleting external reserves (5.2 per cent decline YTD) and other concerns around the domestic polity. Nevertheless, it is instructive that the volatility and uncertainties within the foreign exchange market space would be taken care of by this policy as speculation is more or less taken out. "This decision is expected to compel the banks to look more inward and focus on real banking generating activities so as to improve their bottom line. The pressure that has confronted the Naira recently has been aggravated by speculative attack mounted at the interbank for which the banks have enjoyed certain income spreads. With the new policy, the banks need to remain committed to creating risk assets allowable within the capital adequacy threshold in order to earn more interest income that will enhance profitability. "This decision more or less Continues on page 23

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

technical work processes, jobs, organizational structure, management system, and also in process designs using in manufacturing industries. These components of ICT have great implications for the enhancement of entrepreneurship education in technology and vocational education field of work. According to Azuka, Nwosu, Kanu and Agomuo (2006), classroom behaviour must align with ICT-driven environment which is constantly shaping and reshaping the work place and consequently, what is learnt

The entrepreneur should therefore possess technical skills, ideas and management skills which are necessary for the success of the venture

and how learning takes place. There are various numbers of opportunities for technology and vocational education graduates with entrepreneurship skills in ICT-driven technical and vocational education environment. These opportunities exist in various forms for the enhancing entrepreneurship skills. Nwabuona (2004) views entrepreneurship education as the identification of the general characteristics of entrepreneurs and how potential entrepreneurs can be trained in management techniques needed for effective performance of persons for long time survival of an organisation after the acquisition of occupational skills.

Vanguard, MONDAY, FEBRUARY 23, 2015 — 23

hen in late 2013, Lamido Sanusi, then Central Bank governor wrote to President Goodluck Jonathan asserting that about $20 billion was not accounted for by NNPC, many Nigerians dismissed the claim with a wave of the hand. The Federal Government, incensed by the claim, appointed an audit firm to carry out a forensic audit of NNPC account. The report has passed a verdict that no money was actually missing. In fact, an audit report will always come out with the fact that no money is missing. Many still do not understand the basis on which Sanusi and in more recent time, Professor Chukwuma Soludo, Sanusi's predecessor, accused the NNPC of billions of dollars leakage from the federation account. In real terms, these figures are not found in any books nor can they be found lodged in any account. They are equally not imaginary figures. They leakage has resulted in the Company (NPDC). Without are broad estimates of what dire straits the economy has soliciting bids, the NPDC the nation has lost as a result found itself today. There are signed “strategic partnership key observable agreements” worth around of the use of discretionary three mechanisms in Nigeria $6.6 billion with two other powers by the powers that through which some local firms to manage them. In have held the nation hostage privileged few allow this deal, Seven Energy for years. For years now, stealing of oil middlemen to channel oil signed for three fields; and from pipelines has been funds away from the country. Atlantic Energy, for two. rampant and quantifying the Among those involved in this amount surely is in the region act are government officials of billions of dollars. But each and high-flying society The three time, the government pleads figures. mechanisms are contracts helplessness. How can a nation’s major source of awarded non-competitively revenue be allowed to be to companies that did not under the control of known supply services but subthieves? Yet, a country that has contracted the work; a a viable navy came out to tell kerosene subsidy that doesn’t the world that rogues are help the people it is meant to stealing oil. Are these thieves h e l p ; a n d a s e r i e s o f ghosts, and the vessels they complex, unclear 'swap deals' use both invisible and that has short-changed Nigerians. invincible? It is common knowledge in A look at the revenue profile the industry that the 2011 of Nigeria reveals mounting sale by Royal Dutch Shell of waste, mismanagement and its interests in five oil fields cash 'leakages' in Nigeria’s oil were fraught with under-theindustry. Those who are table deals. The blocks were conversant with developments majority-owned by NNPC. in the Nigerian oil and gas According to Reuters industry will agree that there reports, Shell sold its interests exists billions of proceeds of in the fields to companies in unaccounted for oil contracts, confidential government Poland and Britain. But the Seven Energy was coletters, top private government new owners did not get the founded in 2004 by Kola correspondence and legal same rights Shell had. To Aluko, an oil trader. Aluko also promote local control, the opinions. co-owned Atlantic with Jide Nigeria has been suffering NNPC gave the rights to Omokore. Atlantic was from financial hemorrhage operate the fields to its own incorporated the day before it and the high rate of cash subsidiary, the Nigerian signed the deals. GenevaPetroleum Development

Sanusi/Soludo: Where to find the unaccounted billions

Nigeria is a farm for the privileged few; ask me again if any money is unaccounted for

based Aluko is a high-profile member of Nigeria’s elite. Omokore has also become rich from oil and gas. Forbes has estimated annual revenue at another of his companies, Energy Resources Group, at $400 million. A review of the contracts the firms signed with NPDC showed that NNPC gave Seven Energy 10 per cent of profits in the three oil blocks it operates, while Atlantic gets 30 per cent of profits in its two blocks. The contracts also show that unlike Shell, neither firm pays royalties, profit tax or duties to the Federatio Account. Here is another of the leakages. The third cash leakage is a decades-old subsidy regime provided to retailers of kerosene. Nigeria lacks the refining capacity to make kerosene, so it imports instead. The government then sells the kerosene to retailers at a cheaper price than the import price. This subsidy is meant to make kerosene affordable to the poor. In June 2009, late President Umar u Musa Yar ’Adua ordered a halt to the scheme on the grounds that it was not working. But the subsidies continued regardless. The kerosene subsidy is a “racket” that lines the pockets of private kerosene retailers and

Cover Continues from page 22 confirms the new normal of Naira/Dollar at sub N200.00/ US$1.00 hence increasing the cost of imported inputs for the FMGCs thereby impacting profit margin. Investors are expected to price-in the new development into the share prices of the FMGCs when taking investment decisions. "The most impact of this decision will be felt in the capital market as we expect equities and bond markets to feel the impact. We do not expect increased inflow from Foreign Portfolio Investors, FPIs as foreign exchange risks remain evident despite the reassurance from the CBN to defend the Naira. Other risks around Nigeria’s credit rating,

NNPC staff. The cost of the subsidy is estimated at $100 million a month. The fourth leakage involves other types of refined petroleum products such as gasoline. Like kerosene, this is also imported. To pay for the imported products, Nigeria barters its crude oil. These barter exchanges are known as 'swap deals.' The idea is that importers who bring in refined fuel worth a given amount, receive an “equivalent value” in crude oil. How that equivalent value is determined is unclear. It is estimated that between 2010 and 2011, traders involved in swap deals effectively bartered 200,000 barrels of crude a day — worth nearly $20 million at average crude prices over the period — for a loosely determined equivalent value in refined products. These traders only account for petrol. The others such as diesel and kerosene are not accounted for, but subsidy is paid. It is the aggregation of these leakages that in the mind of an economist, amounted to the estimated billions of dollars that are not accounted for. Nigeria is a farm for the privileged few; ask me again if any money is unaccounted for.

Capital flight: Economy hard hit by $22.1bn outflow in 5 weeks interest rate and domestic polity will continue to determine the direction of these markets. While we expect bond yields to remain high owing to various macroeconomic risks, we expect the equities market to continue to trade sideways. The pressure on the naira at the foreign exchange market might continue to mount and see further depreciation in value of the naira this year. Official reserves at the beginning of this week stood at $32.7bn, 18 per cent below end-February 2014 levels. In December, the central bank

spent $2.3bn defending the naira. Despite intervening occasionally, the pressure on the naira intensified, leading to the CBN having to shift demand out of RDAS to the inter-bank market. While this brought some relief to the RDAS (the average dollar sale per auction in January was just $248m the inter-bank rate diverged sharply from the official rate. The hand writing was on the wall for de-facto devaluation." FBN Capital in its note to investors said: “With this announcement, the central bank has effectively shifted all

(RDAS) foreign exchange demand to the inter-bank market, thus minimising its role as the “prime” market maker. The move is a necessary one towards ensuring that the naira stabilises and reflects demand and supply dynamics, and should assist in improving market depth and efficiency. It effectively closes the arbitrage opportunity for “round-tripping, speculative demand, rent-seeking and spurious demand. “The markets had been expecting some kind of adjustment to the foreign exchange rate, discounting the CBN’s regular insistence that the naira was appropriately

priced, although the exact timing was difficult to call. As long as the CBN continues to intervene to meet “genuine/ legitimate” demand as it stressed, the inter-bank rate should hold at current levels, even with the expected spillover demand from the RDAS. With oil prices staging a slight recovery recently to $60/ barrel, the naira should see some slight support. Given that all transactions have now been shifted to the inter-bank market, we expect consumer goods companies in particular to feel the impact of CBN’s decision, given that a significant proportion of their raw materials is imported.”

C M Y K

24 — Vanguard, MONDAY, FEBRUARY 23, 2015

Business & Economy

Retired police officers laud PTAD on biometric verification

he Association of Retired Police Officers of Nigeria (ARPON) has commended the Pension Transitional Arrangement Directorate (PTAD) on the ongoing verification of Police pensioners in the country. The commendation was given at the weekend when the association executive led by its first Vice-President and former Governor of Rivers State, DIG Fidelis Oyakhilome (Rtd), paid a courtesy visit to the Director-General of PTAD, Mrs. Nellie Mayshak, at her office in Abuja. The commendation, which was conveyed in a letter by the retired police officers, praised PTAD for the orderliness and humane conduct of the verification exercise. The letter signed by DIG Oyakhilome, specifically stated that the current verification exercise carried by PTAD was a marked departure from previous exercises where their members were subjected to untold hardship.

14 ships with petroleum products, foods arrive Lagos ports

ourteen ships laden with petroleum products, foods and other goods have arrived at the Lagos ports, the Nigerian Ports Authority (NPA) said on Thursday in Lagos. The NPA stated this in its daily publication, the ‘Shipping Position’ which was made available to newsmen. It explained that six of the ships were laden with fuel, while the remaining eight ships arrived with food items and general cargo. The statement also said that 29 ships were being expected in the ports between Feb. 18 and March 8. According to the publication, 10 of the expected vessels will sail in with containers, while nine others will arrive with food items like rice in bags, frozen fish, buckwheat and bulk malt. The document indicated that seven ships would arrive with general cargo, and remaining three with base oil, petrol and diesel. C M Y K

CONFERENCE - From left, member, National Association of Proprietors of Private Schools (NAPPS), Mrs. Obey Victoria; Chief Operating Officer, Sterling Bank Plc, Mr. Yemi Odubiyi; President, NAPPS, Chief Yomi Otubela and Group Head, Strategy and Communication, Sterling Bank, Mr. Shina Atilola, after a press conference on the forth-coming NAPPS retreat programme and unified examination in collaboration with the bank in Lagos.

NEPC, NIPC synergize to stimulate investment in export trade

ffort to attract Foreign Direct Investment (FDI) into the non-oil export sector got a boost as the Nigerian Export Promotion Council (NEPC) and the Nigerian Investment Promotion Council (NIPC) agreed to deepen their collaboration to promote trade and investments in the sector. The partnership is sequel to the signing of a Memorandum of Understanding (MoU) between both agencies of government. The event was held in the conference room of NIPC Head office, Abuja. The Executive Director/CEO of NEPC, Mr. Olusegun Awolowo while commending the Executive Secretary of NIPC for the initiative noted that the partnership would provide a platform for synergy with other relevant stakeholders in the sector. The platform will proffer strategies for diversifying the nation’s productive base from oil to non-oil particularly in the wake of dwindling revenues from the former. Mr. Awolowo stressed that there was need to direct the FDIs to the manufacturing sectors as it is the only way to create wealth and employment adding that the Council was working on a tripartite agreement between the Council, NIPC and Nigerian Export Processing Zone Authority (NEPZA) that would stimulate investments and industrial production clusters for export. “All these partnerships are targeted at easing the process of export as well as attracting

investments in the sector. Now more than ever, it is critical for both agencies to fast track the diversification of the economy in line with the Nigerian Industrial Revolution Plan” , he added. The NIRP, he said identifies 13 National Strategic Export Products (NESPs) that will replace oil while it will be supported by two key NEPC initiatives – the One State One Product (OSOP) and Nigerian Diaspora Export Programme (NDEX). The NESPs are grouped under three categories: Agro Industrial – Palm Oil, Cocoa, Sugar, Rice and

Cashew Mining related – Cement, Iron ore/metals, Auto parts/ cars, Aluminum Oil and gas industrial products – Petroleum products, Fertilizer/Urea, Petrochemical and Menthol Awolowo pointed out that the aim of OSOP is to identify and develop in each State of the Federation, one non-oil product across its value-chain for export adding that the initiative takes cognizance of the country ’s comparative advantage in terms of the vastness of its natural endowments. On NDEX, he disclosed that

the project had two components – the Nigerian Heritage City and the Nigerian Cuisine beyond Borders. According to him “this programme is to leverage on the large population of Nigerians in Diaspora as a means of introducing the best of Nigeria to their host countries and communities just like China Town in USA”. Awolowo lamented that the challenges before our exporters and competitiveness of exportable products in the international market are issues of poor quality, standards, high cost of doing business as a result of inadequate infrastructure, technical expertise among others. In her remarks, the Executive Secretary of NIPC Mrs Saratu Umar said that for Nigeria to remain the highest recipient of FDI in Africa pulling 10 percent of the total FDIs in the continent there is need for the Commission to form partnership with other relevant agencies and stakeholders to drive investments in the non-oil sector. The Executive Secretary maintained that the strategic partnership with NEPC was aimed at expanding the frontiers of cooperation to enhance the promotion of non-oil exports on one hand and encouragement of investments on the other. She hoped that with the collaborative involvement of the two game changers (NIPC and NEPC) the Nigerian investment ecosystem will be rightly packaged for improved results from the sector.

Maritime workers demand thorough probe name appeared, into NLC's botched election candidates’ there was no serial number BY IFEYINWA OBI

he Maritime Workers Union of Nigeria (MWUN) has described as unacceptable and a big embarrassment, the circumstances that led to the botched election of Nigeria Labour Congress (NLC) in Abuja last Thursday. In a statement issued weekend by the PresidentGeneral of MWUN, Comrade Emmanuel Tony Nted, the union demanded for a thorough investigation into the alleged printing of multiple ballot papers with different serial numbers among others. Nted, a Vice-President of NLC in the outgoing executive and who only returned to the country on

Friday, a day after the fiasco, insisted that all those who directly and indirectly caused the ballot papers problems must be severely punished to serve as deterrent to others. It would be recalled that the 11th National Delegates Congress of NLC which commenced on Monday, February 9, 2015, was aborted on Thursday morning during voting to elect a new set of leaders to run the affairs of the Congress for the next four years because of alleged multiple voting, multiple ballot papers with some candidates' names appearing two or three times, while some candidates’ names did not appear in some of the ballot papers. There were also allegations that on some ballot papers, where one of the presidential

among other anomalies. According to the MWUN President-General: “What happened on Thursday was very sad, a shame and a big embarrassment. I was not in the country during the conference, as I came in on Friday, I was briefed and I felt very bad. This is foreign in labour movement. I do not want to believe it was done because of desperation for power. I was even told that some unions brought only delegates from a section of the country. What sort of thing is that? “Something is definitely wrong. We call for thorough investigation into this matter. Those responsible for the printing of those ballot papers must not go unpunished.

Vanguard, MONDAY, FEBRUARY 23, 2015 — 25

Business & Economy

BoI, Kogi govt disburse N57m to 13 MSMEs BY FAVOUR NNABUGWU

he Bank of Industry (BoI) in collaboration with Kogi State Government has disbursed N57.24m to 13 Micro, Small and Medium Enterprises (MSMEs) in the State. The loan disbursed under the Kogi State-Bank of Industry N2 billion MSMEs development fund scheme, is expected to boost business expansion and enhance production capacity of the beneficiaries. The scheme which is essentially designed for the promotion of small and medium industries as a vehicle for rapid industrilisation, sustainable economic development poverty alleviation and high employment generation in Kogi State. Already, three Small and Medium Enterprises and 9 micro enterprises from the state had benefited the sum of N130.27m from the loan scheme. Under the MoU, Kogi State is required to pay 1bn and it is expected to be matched in like sum by the BOI. However, six years after the consolidation of the deal, Kogi State government has only been able to pay the first tranche of the fund which is N250million, a situation which compelled the bank to demand the payment of the outstanding N750million. Speaking while giving out the cheques to the beneficiaries at the capital city, Lokoja, on Tuesday, the BOI Managing Director, Mr. Rasheed Olaoluwa, urged the state governor to pay the second tranche of the loan agreement so that entrepreneurs in the state would benefit from low cost funding. The MD listed some of the new initiatives of the bank, which are geared towards promoting small businesses in the country to include, creation of a full-fledged Directorate in charge of SMEs, appointment of 122 Business Development Service Providers (BDSPs) in three categories; i.e. State, Zonal and National, and entering into partnership with ten SME-Friendly banks to complement BOI’s lending by providing working capital for our SME customers at a negotiated interest rate of MPR+6% per annum. In particular, Olaoluwa urged the state government to take advantage of the bank’s cluster-based product development initiatives. On the imperative of the

initiatives to the state, he said,”It is a well-known fact that Kogi State is richly endowed in agriculture, water resources and solid minerals. Some of the agricultural products include cassava, oil palm, cashew, cocoa, Yam, Rice, fish, etc.; while the solid minerals include Iron Ore, Limestone, Coal, etc. “This has therefore created investment opportunities in agro-processing, iron and steel production, cement manufacturing, solid mineral beneficiation, water transportation, to mention but a few. The State also has huge tourism potential in view of its various pre-colonial relics as well as beautiful landscape and favourable weather conditions. “For the second phase of the programme, we would like to

invite the State Government to key into BOI’s cluster-based product development initiative. By so doing, product clusters would be identified based on the comparative advantages of the various Local Government Areas in the State and the enterprises in such locations will be financed under the Matching Fund Scheme. Also, the Executive Governor, Kogi State, Capt. Idris Wada, described the occasion as a big milestone in the administration’s effort to industrialise the generate employment and stimulate the economy. According to him, “What constitute impediment against the development of SMEs, particularly in the state, is inadequate supply and cost of start up capital”.

He added,”SMEs constitute a major vehicle for driving economy progressively. But what constitute a major impediment to the development of SMEs, especially in the state, are inadequate supply and cost of start up capital among other major problems. The Governor “To address this problem, the state goverment went into collaboration with the Bank of Industry and initiated this joint fund scheme to provide MSMEs enterepreinuers in the state the opportunity to access to loan.” Responding on behalf of other beneficiaries, Mr. Salami Abraham of Savidigam Enterprises, producer of Poultry feeds, thanked BOI and Kogi State government. for facilitating access to the

Rivers State set to empower 3, 000 SMEs

PRESENTATION - From left: Francis Ebuehi, Vice-President, Value Added Services, Airtel Nigeria; Geoffrey Nwachukwu, Co-Founder, Sonbim Games and Nitin Anand, Vice-President, Data Products & Services, during the prize presentation of Airtel Catapult-a-Startup Initiative held at Airtel Nigeria Headquarters in Banana Island, Ikoyi.

FirstBank, NLI partner on youth empowerment

Financial Inclusion: NIPOST to bring 40m into financial market By EMMANUEL ELEBEKE

he Post Master General of Nigerian Postal Services, Mallam Ibrahim Mori Baba, has said that the Post will bring over 40 million rural people into the financial market with the establishment of shared financial agent services across the country. The PMG was speaking on the newly launched One Network managed multistakeholder partnership at Kubwa Post office, Abuja. He said the post office will soon become the most important center for access to financial and citizen services under the financial inclusion pragramme of the Central bank of Nigeria, CBN in partnership with the federal Ministry of Communications Technology. Baba stated that the NIPOST is not just about posting stamps but is actually setup to provide much more such as e-commerce and other allied services. “ We have completed arrangements with

e-commerce services providers like Konga who will also be able to utilize this project to extend their services to unserved areas across the country. The facility which is a partnership between Nipost and NigComSat and managed by One Network limited is powered by NigComSat’s new Ka-band to boost internet accessibility in all the targeted 50,000 rural area locations across the country. The launching of the project was described as a major milestone in making financial inclusion a reality in Nigeria, with about 1,170 post offices available for the provision of the shared financial services by Central Bank Licensed Financial institutions like FirstBank’s FirstMonie, Nigeria Agric. payment Initiative ( NAPI ) involving NIMC , Ministry of Agriculture and Central Bank based on Cellulant’s mobile payment platform. The Managing-Director of NIGCOMSAT, Ms Abimbola Alale, said that the new Ka-band would provide cheap internet financial transactions and internet accessibility at a lower cost to Nigerians.

he Rivers State Government said it is set to empower 3,000 Small and Medium Enterprises (SMEs) for business in the state saying it is the driving force for the growth of the nation’s economy. This was disclosed, at a Business Capacity Building Programme organised by the Ministry of Commerce and Industry as part of its Business Clinic Initiative (BCI) in partnership with SPROG Consultant, on the ways of accessing the N120 billion intervention fund provided by the Federal Government for SMEs. Speaking at the programme, the state Commissioner of Commerce and Industry, Mr. Chuma Chinye said through BCI the state government will ensure it empowers 3000 SMEs by providing capacity building programmes before it leaves office in May. He noted that the SMEs contributes over 75 percent of employment force in the state and the country at large said it will provide effective programmes that will ensure its growth by giving basic knowledge to SMEs.

By JONAH NWOKPOKU

irst Bank of Nigeria Limited in partnership with Nigeria Leadership Initiative (NLI), will be grooming twenty-five Nigerian leaders from within and the Diaspora at this year’s NLI Future Leaders Seminar to be held in Lagos, May. The Future Leaders Seminar (FLS) is a four-day seminar conceived for emerging leaders in the public and private sectors as well as civil society for grooming Nigerian leaders between 25-35 years with outstanding leadership attributes and accomplishments in their respective fields. In a statement, NLI said that “In the course of the seminar, the participants will have their leadership skills, knowledge and confidence significantly honed and enhanced in preparation for them to assume a transformative role in the future development of Nigeria.”

26 — Vanguard, MONDAY, FEBRUARY 23, 2015

Banking & Finance

Ecobank Nigeria announces staff promotion

cobank Nigeria Limited announced the promotion of about 500 staff and a merit pay increase for over 3,000 of its workforce. The latest promotion exercise which affected 10 per cent of the employees is in line with the bank’s commitment to recognizing and rewarding excellence and exceptional performance. In line with the bank’s policy of rewarding performance, few staff who performed below expectation were also exited. In his statement announcing the promotion, Managing Director of the bank, Mr. Jibril Aku said ‘We are fully committed to rewarding excellence and we continue to take appropriate positive action in line with international best practice to sustain excellence in our work force. In his words “Our people are our precious assets who enable us maintain service quality standards, uphold customer satisfaction and enhance our brand experience”. According to Mr. Aku Ecobank maintains high professional culture, where exceptional performance, innovativeness and hard work are recognised and rewarded.

FirstBank sponsors sustainability workshop

irst Bank of Nigeria Limited, through its Sustainability programme, FirstBank Sustainability Centre in partnership with the Lagos Business School is hosting a Sustainability workshop for NGOs and Corporate Organisations to espouse on modern approaches which they can use to address social and environmental concerns of business customers, investors and the media. In the wake of the emerging shift in stakeholder needs which optimizes social responsibility above business profitability, there is a landscape of opportunities for NGOs and corporate organisations to collaborate, increase capacity, sustainability, and deliver service to the community.

The unravelling of an inexpedient Naira policy BY BABAJIDE KOMOLAFE

n October 10 th 2011, the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) was confronted with the challenges of “declining oil prices, declining foreign reserves, increased demand for foreign exchange, fiscal dominance and capital flow reversals”. To address these challenges, the committee had to choose between two policy options. The first option, according to the communiqué issued at the end of the emergency meeting was “protecting reserves by reducing the supply of dollars at the wDAS. This will lead to a rapid depreciation of the currency and the emergence of a parallel market, leading to further pressures on the Naira, imported inflation and a general loss of confidence on the part of investors. “A second option is to address monetary and liquidity conditions more aggressively, by tightening liquidity and raising domestic interest rates”. The Committee chose the first option, which was to defend the naira at the expense of the nation’s foreign reserves. As a result, the MPC raised its benchmark interest rate, monetary policy rate (MPR), by an unprecedented 275 basis points from 9.25 percent to 12 percent. To complement this move, the Cash Reserve Requirement (CRR) of banks was raised by 50 percent to 8.0 percent from 4.0 percent. Also the Net Open Position (NOP) or Foreign Currency trading position of banks was slashed from 5.0 percent of shareholders’ funds to 1.0 percent.

Three years after

his policy stance however unravelled last week, when the CBN, decided not to defend the naira again but protect the foreign reserves. In a terse press statement signed by the Director of Corporate Communications, Ibrahim Muazu, the CBN stated, “The managed float exchange rate regime, which the Bank had adopted following the liberalisation of

CBN Governor, Godwin Emefiele the foreign exchange market, has for the most part been successful in ensuring exchange rate stability in line with its mandate. “In recent times, however, with the sharp decline in global oil prices and the resultant fall in the country’s foreign exchange earnings, the Bank has observed a widening margin between the rates in the interbank and the rDAS window, thus engendering undesirable practices including roundtripping, speculative demand, rent-seeking, spurious demand, and inefficient use of scarce foreign exchange resources by economic agents. “This has continued to put pressure on the nation’s foreign exchange reserves with no visible economic benefits to the productive sector of the economy and the general public. In view of the foregoing, it has become imperative that appropriate actions be taken to avert the emergence of a multiple exchange rate regime and preserve the countr y ’s foreign exchange reserves. “Consequently, we wish to inform all authorized dealers and the general public that, with effect from the date of this press release, the rDAS/ wDAS foreign exchange window at the CBN is hereby closed. Henceforth, all demand for foreign exchange should be channelled to the interbank foreign exchange

market. “For the avoidance of doubt, all authorized dealers and the general public should note that the CBN will continue to intervene in the interbank foreign exchange market to meet genuine/ legitimate demands.” The press statement represented one of the most unceremonious ways of

country ’s dependence on importation. The apex bank had severally argued that given the import dependent nature of the economy, devaluation of the currency will result to imported inflation and undermine its price stability mandate. But by choosing to defend the naira, in order to forestall imported inflation, the apex bank forgot the importance and criticality of having robust external reserves to currency defence, especially in an economy that depends on one commodity for over 90 percent of its foreign exchange earnings. Consequently, the CBN lost the opportunity to rebuild the foreign reserves, despite high crude oil prices. From $31.74 billion as at end of September 2011, two weeks before the unprecedented tightening, the reserves struggled to rise to $47.9 billion, the highest during the three year period, before commencing steady decline to $32.4 as at Wednesday last week. This was besides the severe impact of the tight money supply policy measures on the real sector of the economy in terms of high lending rates and constrained growth of credit to the private sector, which made it difficult and expensive for businesses to access loans from banks.

Adhoc measures to address falling reserves

he unravelling of this policy stance however was not an event, it was a

Consequently, we wish to inform all authorized dealers and the general public that, with effect from the date of this press release, the rDAS/ wDAS foreign exchange window at the CBN is hereby closed.

abandoning a policy stance pursued doggedly for more than three years.

Sustaining Importation

ince that October 11th 2011 MPC meeting, the apex bank had fiercely defended the naira even when economic realities, and economic experts, suggested otherwise. Its obstinacy in this regard was driven by the need to preserve an economic malaise which is the

process that started October last year with a series of adhoc measures aimed at addressing declining reserves occasioned by increased demand for foreign exchange triggered by decline in crude oil prices. The first measure was announced on October 24th., when the CBN pegged the foreign currency borrowing of banks to 75 percent of their shareholders fund. This according to the CBN was to “ensure that these (foreign exchange) risks are well managed and avoid losses that could pose material systemic challenges."

Vanguard, MONDAY, FEBRUARY 23, 2015 — 27

28 â&#x20AC;&#x201D; Vanguard, MONDAY, FEBRUARY 23, 2015

Interview BY PETER EGWUATU

r. Victor Ogiemwonyi is the CEO of Partnership Investment Plc, Chairman of the Association of Issuing Houses of Nigeria, AIHN and Council member of the Nigerian Stock Exchange, NSE . In this interview, Mr. Ogiemwonyi spoke on a lot of issues such as the 2015 national budget, inflation, interest rate, Foreign Exchange, FOREX , long term financing, among others.

Does the capital market have absorptive capacity in the event that the Federal government decides to raise substantial fund to execute the 2015 budget Yes. We have proven that already with the banking consolidation of 2004/2005. The same questions were asked then, and we answered by raising over N700billion for banks and has since raised more billions for other companies like Dangote Cement and Sugar. Our market is wider than our borders. We have investors outside our shores that will bring money if they think there is opportunity for them. We have a very large population that is an attraction for serious investors. The population can also be galvanized to make the Capital market a major investor hub. A rapid savings habit will soon emerge to make investors out of our very large population. We saw this in 2007/2008, when the market was vibrant; many Nigerians became investors in the market. We also have an emergent pension industry that can provide the source of local institutional funds that will help have infrastructure securities funded and traded with benefits for all. In your own opinion, why has the governments at different tiers been shying away from deploying the capital market to fund infrastructural deficits? I believe there was not enough knowledge on how the market can help Governments get the funding it needs to get Infrastructure to standard. Some of that blame is on us. We now want to get the message out there. That is one of the reasons we are coming together to give visibility to what we do and how we can play our role in the economy. No serious Government at any level can borrow its way to developing their infrastructure using the existing Commercial Banks. The debt capital markets and possible Private Public projects with equity kickers will allow Governments the required funding and proper

utilization and discipline only the market can provide. There is however a small percentage of the Governments that find the ease of commercial Bank loans that have little public scrutiny attractive.

How would you advise investors who had lost substantial amount to the stock market crash in 2008 to patronize the market? The stock market is a longterm market. If you weighted out the last crisis, the chances are, that you may have recovered or near recovery. Until the recent crash relating to the uncertainties in the economy. Only those who borrowed to be in the market and have a lot of debt to worry about may have challenges. Those who sold may have suffered, but it is better to find someone to help you with professional advice. What you pay is nothing compared to what you will gain if you use the right adviser. The market remains the most profitable in the long run. I will also advise that you invest evenly, that is buy stocks at different times at different prices and just hold it for a long time.

and Governments and continually impress on the Governments that the capital market is the market for longterm funding of infrastructure and it is a more appropriate market to fund long-term Infrastructure projects.

What should be the roles of the market operators in this situation? A. The role of market operators will apart from giving useful information to these governments, to also work with others in the market to educate Governments as issuers of securities and let them know the usefulness of accessing the market. Investors who buy these products and the general public who pay the taxes to service this long term debts all need to be educated about the market. Operators and everyone else need to push Governments at all levels to privatize more of their services to the public as a way of making them selffunding when they access the market as well as provide better services because of the market discipline required. We have seen this with earlier privatization of Government banks in the 1980s. Nobody remembers today that First Bank. UBA and Union Bank were once Federal Government owned. What informed the decision to hold the recently concluded One-Day Dialogue by the Chartered Institute of Stockbrokers

The debt capital markets and possible Private Public projects with equity kickers will allow governments the required funding and proper utilization and discipline only the market can provide Only professional traders can really make money from trading stocks. Trying to trade your portfolio on your own will cost you money if you donâ&#x20AC;&#x2122;t know what you are doing.

What roles should the capital market regulators play in order to bring about effective and efficient utilization of the market by the governments at different tiers? The Market regulators will have to embark on enlightenment of the public

(CIS), Association of Stockbroking Houses of Nigeria (ASHON) and Association of Issuing Houses of Nigeria (AIHN)? The dialogue was on the proposed 2015 budget. We wanted our input in the national budget making process. We wanted to make sure the capital marketâ&#x20AC;&#x2122;s point of view was made known. We represent a very important segment and voice in the economy; we feel we need to be part of the discussion and to make our

Victor Ogiemwonyi

Capital market has finance national bu market. views known early enough to be considered by the seriously

How would you assess the forum? The forum was very successful. This was our first of such forums and we were happy that the market enthusiasm was there to encourage us. It was also a good pointer to the synergy that can come from the the three market Trade groups or market associations teaming together to do this. Many others will follow. We intend to expand the reach to other capital market associations to possibly form an apex capital market association, to represent one voice for the Buy and Sell side of the our

What issues would you say dominated the discussion? The current economic situation was most discussed and the interconnectedness of Inflation, Interest, and the Foreign Exchange , Forex Rates. Suggestions were made on how we could possibly manage these rates. There were also issues around the Stock Brokerage industry and national economic growth What message(s) can we say that CIS, ASHON and AIHN are sending to the Federal, State and Local government? Let all levels of Government know that they can use the capital market to quickly develop this economy. The capital market is waiting to play its rightful role.

Vanguard, MONDAY, FEBRUARY 23, 2015 â&#x20AC;&#x201D; 29

Interview Bank of Nigeria on the management of the interest rate, inflation rate, monetary policy rate (MPR) and exchange rate? My position is very clear on this, not only was my discussion at the dialogue session focused on the recommendations that I postulated, I have since written what that position is, and published in my column in Business Day ( Economics and Markets) and several newspapers just to tell you how strongly I feel about it. The debate is going on out there. My position is that the current environment is ideal for us to make some changes. It is an opportunity we must seize. Changes are

capacity quickly to meet the need.

We intend to expand the reach to other capital market associations to possibly form an apex capital market association, to represent one voice for the Buy and Sell side of our market much easier to make in a crisis. We must use the opportunity to diversify our economy by weaning ourselves of those imports we donâ&#x20AC;&#x2122;t need. We must make the Naira cheap to stimulate exports and generate Foreign Exchange, Forex .A cheap Naira will attract tourism. We have no business defending the Naira at all cost. The question is, who are we defending the Naira for? Is it for marginal foreign investors who come to prey on us? You cannot hold back water after the dam has broken. The only thing to do now is let the Naira find a level from where we can support it. My threshold is N200. The CBN should not support the Naira below this level. We should also come out with a list of what is eligible for official

s absorptive capacity to udget â&#x20AC;&#x201D;OGIEMWONYI The focus on it will provide some answers to our infrastructural development problems. We need an integrated approach that will put in place a market wide strategy to meet the needs of investors from the Sellers side and to meet the needs of the market from all users of the market. The Government can purposely patronise and partner with the market to help the Market develop to meet the needs of the economy. How would you advise the Central

I will also advise that you invest evenly, that is, buy stocks at different times at different prices and just hold it for a long time. Only professional traders can really make money from trading stocks Victor Ogiemwonyi

foreign exchange. All luxury should not qualify for official Forex. Any item with local production or substitute should not be given any official foreign exchange. The high exchange rate will allow us lower interest rate to align with the lower trending inflation at 8.2 per cent and discourage some speculators. The current Monetary Policy Rate, MPR at 13 per cent is a drag on the productive sector of the economy. We need to focus on growth; we will maintain modest inflation and high exchange rates to make our local industries competitive. A high exchange rate for the Naira will also help balance the budget with the hidden re inflation that will come from a N200 exchange rate. The budget surpluses can be used to intervene in certain industries where there might be shortages and enhance their increased supply of that product. This can be addressed by helping those industries access loans at low interest rates to increase

What is your take on cost of investment on the Nigerian Capital Market? The cost is too high but the problem is on the regulatory fees. Those costs will need to be reviewed. The volume of business in the market will not allow market operators bring their cost any further down. Anyway, competitiveness amongst operators is stopping them from even charging full fees. There is always a negotiated fee that most times, favours the buyer of the various services. Investor education is very key to growing the market. It has a lot of benefits for everyone in the market. As for the operator, it is far easier to sell to a knowledgeable investor. The best protection for investors is knowledge. All investing is about knowledge. We all have a responsibility to reeducate all users of the market. We need to employ some innovative ways for engaging the public. There are some very good ideas in the 10 Year Capital Market Master Plan that we just completed. Any other comments that would be of interest to the investing public? The investing public needs to know that it is usual for markets to go up or down. The current situation will not last forever. When the stock market go down, and is persistent, it usually goes down for a good reason. If the users perceive that the economy is unstable and cannot be predicted, they usually want to get out. Investing is about the future, unless people can read the future more clearly, they will want to move into other perceived less risky investments. After a while the risk is over stated and the value in the market becomes irresistible and investors will flood back into the market and stocks rise and those who are in, make money. The value in the market is at that point now or near it. Those who want to make money in the next wave must begin to position themselves now. The un usual low value of stocks now, is due to the unusual events propelling the uncertainty, which, when they start to correct themselves as they must at some point, prices will start to go up. Because no one can predict what that point is, you will have to invest broadly and consistently. But do no borrow to invest in the market unless you understand the risk. C M Y K

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Homes & Housing

NMRC: Driving Nigeria’s mortgage refinancing system BY BASHIR IBRAHIM HASSAN

ffordable housing is the ultimate objective of mortgage refinancing programmes, but different circumstances may lead different countries to introduce it. The Barrack Obama administration authorized several refinancing programmes aimed at helping underwater homeowners take advantage of the historically low interest rates in the US. In Nigeria bridging the housing deficit may be the driving force. According to housing industry sources, there is an estimated 17 million housing deficit in Nigeria. Filling this gap needs a good amount of liquidity, which only special intervention by government can guarantee. Not surprisingly, the Jonathan led administration came up with the country ’s first mortgage refinancing institution – Nigeria Mortgage Refinancing Company (NMRC) based on public-private partnership model. This has been entrusted in the hands Professor Charles Inyangete, an industry expert. Inyangete came to NMRC with a clear vision of providing a level playing ground and creating the required market for all stakeholders in line with global mortgage best practices in refinancing towards becoming a world class institution. This vision, according to him, is predicated on four pillars innovation supported by robust IT; integrity, as a hallmark of good governance; independence from undue external influence which will ensure the CEO and his team give their very best and; inclusion policy that treats all stakeholders fairly. The background and experiences of Inyangete in the financial markets and real estate sector will help him steer the affairs of the NMRC very well. At various times, he served as Chief Executive Officer of Integrated Risk and Investments Services Ltd., Non-Executive Director of Group Africa Growth Holdings; and as Director of Exim Bank (Tanzania) Limited until August 2008. He was previously Professor of Finance at the Institute of

Prof. Charles Iyangete, NMRC CEO Financial Management in Dar Es Salaam, Tanzania, and holds Ph.D. in Finance from University of Strathclyde. On what Nigerians are to expect of the NMRC in the next five years, he said: “In the next five years, we have projected that we will refinance close to the region of 400,000 to 450,000 mortgages for one segment of the market. When we go down to the lower segments of the market, we expect to refinance proportion larger than that number. So Nigerians can expect to see mortgages refinanced in their hundreds of thousands perhaps close to a million in that period, depending on the buoyancy and vibrancy of the market

from VA loan refinance, there and their activities in that re others such as the Home period.” Affordable Refinance Like elsewhere in the Program (HARP), USDA world, NMRC is a private Home Loans and FHA sector driven company with Streamline Refinance, all the singular purpose of targeted at making home developing the primary and ownership easier for different secondary mortgage markets categories of people. by raising long-term funds In Nigeria, the mandate from the domestic capital given to NMRC is to provide market as well as foreign primary mortgage banks markets and thereby provide (PMBs) with access to longaccessible and affordable term finance at an affordable housing in Nigeria. interest rate, which in turn Accessible and affordable will enable mortgages to be housing stimulate growth of issued by these institutions to the economy in many key Nigerians at longer tenors and sectors - manufacturing, affordable rates. services and employment Consequently, the provision but more importantly it of mortgage loans at longer promotes welfare of the citizens as it tenors will addresses provide the one of the a v e r a g e In the next five most basic working class needs of years, we have Nigerian mankind projected that we citizens an shelter. opportunity to will refinance L i t t l e a home wonder close to the region buy a n d that among conveniently of 400,000 to the mortgage pay for it over 450,000 refinancing a reasonable programs mortgages for one period of time introduced w i t h o u t segment of the by Obama h a s s l e s . market administration Provision of is the adequate Ve t e r a n ’ s Administration Loan housing is one of the indices Refinance programme that for measuring the standard of targeted the welfare of US living of people. Therefore, Veterans - an important any effort to address housing segment of the US citizenry. deficit is an effort towards The programme offers raising the standard of living Interest Rate Reduction of the people. Refinances (IRRR) for Veteran Home Owners who simply *Hassan is a business want to reduce their interest development executive rate, with no appraisal. Apart based in Abuja

Lafarge, Shelter Afrique seal affordable housing deal By YINKA KOLAWOLE

afarge Africa Plc has signed a Memorandum of Understanding (MoU) with Shelter Afrique, a panAfrican housing and development institution, for the purpose of facilitating access to affordable housing for low income earners in Nigeria. The agreement which will commence with the development of identified sites at the Federal Capital Territory, Abuja, will be for an initial period of four years. The development is meant to boost housing stocks for the middle and low-income classes of Nigerians. Under the terms of the MOU, the areas of cooperation between the two organizations include provision of assistance to define the best construction

technologies for use in affordable housing and microfinance projects as well as supply of cement and concrete products for projects. Group MD/CEO, Lafarge Africa, Mr. Guillaume Roux, said at the signing ceremony, said the move was to assist government in the quest to provide affordable housing for Nigerians. “This is in furtherance of Lafarge’s objective of complementing government’s efforts to boost national development through improved i n f r a s t r u c t u r e , industrialization and economic growth. Our commitment to bring more housing and better solutions to contribute to building better cities in Nigeria will be enhanced with the implementation of this agreement, which represents a new major step in our affordable housing program,”

he stated. Roux noted that the company started its affordable housing programme tagged: “Ile Irorun,” in October 2013. The vision of Lafarge is to help about two million people around the world to have access to housing. We want to fill the gap of housing deficit in Nigeria. So far, over 6,000 people have been impacted by the scheme through more than 1,000 constructions, with each beneficiary having an average of six members in their families,” he added. The Lafarge boss further noted that the partnership would help drive down the cost of housing in the country. “We need to drive cost down; that is why it is important for us to work with key stakeholders that are experienced, hence our partnership with Shelter Afrique. The idea is to also look for ways to expand the market,” he said.

US mortgage rates hit 2015 high

.S. mortgage rates for 30-year loans rose to a seven-week high, increasing borrowing costs from close to historic lows. The average rate for a 30year fixed mortgage was 3.76 percent, up from 3.69 percent previous week, Freddie Mac said in a statement. It added that the average 15-year rate climbed to 3.05 percent from 2.99 percent. An improving U.S. job market is leading to speculation that the Federal Reserve will raise interest rates, while the European Central Bank’s embracing of monetary stimulus has pushed up yields for the government bonds that guide mortgages. Borrowing costs are still low, considering the 30-year rate averaged about 6 percent over the last two decades. Housing demand remains uneven even with an improved job market. U.S. single-family housing starts declined 2 percent to a 1.07 million annual rate in January as demand cooled from an almost seven-year high, according to the Commerce Department.

Mortgage lending dips in UK

ortgage lending across the UK continued to fall in January, according to figures from the Council of Mortgage Lenders (CML). Homeowners borrowed £14.3 billion last month - an 11 percent drop on the same month in 2014, and the lowest figure since April 2013. January figure also marked a 14 percent fall from the £16.6 billion lent in December. However, January is typically a slow month for the market, and the CML figures are not seasonally adjusted. But the CML still expects lending to grow by 9 percent throughout 2015. “Although seasonal factors will continue to weigh on activity levels for a while longer, we expect the underlying picture to pick up over the coming months,” said Bob Pannell, CML’s chief economist. In 2014, lending grew by 14 percent. Other experts agreed that the market is likely to pick up as the year goes on.

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Insurance

Swiss Re reports lower profits, cites challenging January renewal

wiss Re, the second largest global reinsurance firm, has reported lower profits in the fourth-quarter of 2014 as the firm suffered a hit due to certain restructuring in its life and health business, the firm also cited a challenging January renewal season. Swiss Re reported that Q4 profits fell to just $245m compared to $1.2 billion in 2013, as the impacts of restructuring pre-2004 life business and the unwinding of an asset structure related to a longevity transaction took their tool. In fact the life and health business suffered a $734m loss for the quarter and a $462m loss for the year, showing the impact from these actions. Swiss Re believes that by taking these actions now its business will be more profitable going forwards. For the full-year Swiss Re reported net income was down at $3.5 billion, compared to $4.444 billion a year earlier. Low catastrophe losses helped the P&C arm again as the firm managed an 83.7% combined ratio in P&C and 85.4% consolidated across the group. Earnings per share was down by over $2, at $10.23, compared to $12.97 in 2013. The result for shareholders may not be deemed so attractive, as the firm cut its special dividend to 3 francs, down from 4.15 france in the prior year. Added to its regular dividend, which is up at 4.25 francs, over 3.85 a year ago, the dividend returns are down at 7.25 francs from 8 in the prior year. Swiss Re also plans to buy back 1 billion Swiss francs of shares over the next year or so, which will likely help to keep shareholders happier. Swiss Re’s Group Chief Executive Officer, Michel M. Liès, commented on the results; “Through our disciplined underwriting approach and active differentiation, Swiss Re generated strong earnings despite the challenging industry environment.

UNVEILING - From Left: Mrs. Amaka Onwughalu; Group Managing Director/Chief Executive Officer, Mainstreet Bank Limited, Mr. Taofik Adegbite, Chief Executive Officer, Marine Platforms Limited, Mr. Noel Samson, Captain of 'African Inspiration' vessel; Mr. Timothy Oguntayo;Group Managing Director/Chief Executive Officer, Skye Bank Plc, Mr. Victor Odozi, an independent director of the bank, at the unveiling of a new vessel financed by Skye Bank in Lagos.

NCRIB warns members against rate cutting Stories by ROSEMARY ONUOHA

he Nigerian Council of Registered Insurance Brokers, NCRIB, has warned insurance brokers who are in the habit of cutting rates to desist from such act as henceforth the Council will no longer defend them.

President of the Council, Mr. Ayodapo Shoderu, who made the assertion at the brokers members evening held at its Secretariat in Lagos last week, stated that the act of such brokers have continued to cause ethical brokers to lose genuine businesses. Shoderu said, “The Council has continued to receive an

avalanche of complaints about some ethical brokers losing businesses to those who continually cut rates or quote uneconomic rates. This is killing to the brokerage profession and must be condemned in its entirety. It is the intention of the Council to continually promote high ethical standards. “It will be most difficult for

the Governing Board henceforth to defend any member that violates the law or directive on insurance broking operation. To be fore warned is to be fore armed.” Shoderu lamented that the trend has continued to affect the operations of insurance brokers. He said the leadership of the council last year visited the Commissioner for Insurance who warned brokers that indulged in collecting overriding commission from insurance companies to desist from the act, warning that NAICOM will not hesitate to sanction such unethical players. He however said that the council will discuss more intensively with the Nigerian Insurers Association, adding that the forum should be a good platform to initiate steps towards upward review of the existing brokerage commission. On Financial Reporting Council (FRC) compliance, he said the council had held several previous meetings with FRC with directives on International Financial Reporting Standards (IFRS), as applicable to insurance brokers. He noted that the Council has again received a letter from the FRC directing that all brokers submit their accounts 15 days from now, without fail, urging members that has issues with complying to liaise with the Secretariat which will in turn facilitate assistance through IFRS Sub Committee which mandate is to help members having challenges of compliance.

IGI's new MD to restructure operations, reposition firm

he newly appointed Group Managing Director of Industrial and General Insurance Plc, (IGI), Mr. Rotimi Fashola has said that he has concluded plans to restructure its operations and repositioning the entire organisation for optimum performance for the benefit of its investors and all stakeholders. Fashola disclosed this when the company hosted the February edition of Members Evening of the Nigerian Council of Registered Insurance Brokers (NCRIB) in Lagos. Fashola said that its marketing team has been strengthened and streamlined to serve the brokers more expeditiously, adding that six brokers units have been created for effective and efficient service delivery, including

ensuring real time documentation and payment of commission. He noted that as part of the on-going restructuring, IGI has overhauled its human resource machinery to make it more efficient and responsive to the company’s new direction. According to him the morale of all categories of staff has been boosted considerably with promotions, improved emoluments and a reward system that surpasses competition, even as he assured investors and stakeholders that despite the harsh business environment it has retooled and is poised for a paradigm shift that will take it to greater heights. He said “Our board and management are irrevocably committed to a new IGI that is determined to regain market leadership and

delight shareholders with robust return on investment. Our conviction is that we can make it happen in the shortest possible time. “We have carried out a holistic appraisal of our operations and taken steps to address our limitations. The challenges confronting us are being tackled head-on and the signs are clear that our efforts are already yielding positive results. “We are vigorously pursuing a policy that will ensure prompt payment of claims and commissions, an issue which has always generated controversy and bad blood for the insurance industry. Some of you here present will testify to the fact that we have improved tremendously in this regard. On claims payment he said from 2014 till date, IGI has paid a total of N2.1 billion as claims. He however attributed

late submission of account to its international subsidiaries with different accounting standards, which has also been addressed. He assured that there has been appreciable improvement year on year and things will continue to get better, as “ we are committed to NAICOM’s directive that accounts should be presented by April.” Fashola said, “We are positive that our ongoing reform in IGI will engender a more vibrant company that will take its rightful place in the Nigerian insurance market and pursue the vision of a world class insurance company. But we cannot go it all alone; we need everyone to make our dream come true. “For us at IGI, we believe strongly in collaboration and cooperation with stakeholders."

Vanguard, MONDAY, FEBRUARY 23, 2015 — 37

“People are saying you people said you will do [by December 2014] 6,000MW, yes! We have the capacity standing..” Professor Chinedu Nebo, Minister of Finance, PUNCH, January 28, 2015, p 38.

hat statement by the Minister was tucked into a report which screamed, POWER GENERATION DROPPED BY 2,042MW. The story went on to state that “Peak generation for the country as of Tuesday was out at 3,865MW, while 3,331MW was the figure for the off-peak generation.” Meanwhile, the first month of the year has come to an end and the nation is still receiving less than 4,000MW steadily, despite the lies by the PDP and the Minister’s widening credibility gap. Professor Nebo simply cannot stop making promises which will not be redeemed; he can also not keep his mouth shut. And, when he opens it, another futile promise drops. What sort of a Minister is this? Hundreds of Ministers have graced the offices of the Federal Government since Alhaji Abubakar Tafawa Balewa, Prime Minister of Nigeria, formed his cabinet in 1959. None had made as

many promises as Nebo and none had been so devoid of remorse when he fails to keep them. What sort of man is this? On the occasion in reference, he was up to his old tricks again. According to him, “by 2016, we expect to get up to 10,000MW; and, by 2017, to get 12,500MW’. Who in his right senses will believe this man anymore? Who will believe a man who had failed each and every time he promised? Yet trillions of naira worth of investment is riding on this; not to talk of the future of Nigeria. While the man’s credibility has been eroded to nothing, he can nevertheless be counted upon to ensure that everything that will work against the interest of Nigerians is implemented. Last week, Nebo was at his worst when he proclaimed as follows: “Less than 50 per cent of Nigerians are metred. How do you collect your money? The commercial losses are huge and

Can this man ever be serious? – 2 unfortunately somebody has to pay for it. And unfortunately again, it is those who are paying that are penalized to pay for those who are not paying [underlining mine].” Since the Minister has not denied making that statement, then it must be assumed that he was

ROBBERY by the Federal Government of Nigeria and its unfortunate (to use the word again) Minister who would have been better left in the classroom. Like several million Nigerians, honest and responsible citizens, who pay their bills monthly, I deeply resent being told by a thoroughly misguided

While the man’s credibility has been eroded to nothing, he can nevertheless be counted upon to ensure that everything that will work against the interest of Nigerians is implemented correctly quoted. And, if so, it stands as the most irresponsible statement by a public official ever in history. The plain meaning of the unfortunate (to use Nebo’s words) declaration can be reduced to LEGALISED

Minister that we must be forced to pay somebody else’s bills simply because both the Government and the stupid owners of DISCOs, who invested in the sector, started off without asking the question “How do you collect

your money?” While still on the issue of resentment, the Minister needs to be told that he had made a statement which might form the basis of a class action suit involving several thousand customers of Eko Electricity Distribution Company and me and the Company. We would not only demand for restitution but for punitive damages for willful embezzlement of our hard earned money. To be quite candid, it is remarkable that a Professor could not understand the full implications of what he said. The Professor had also inadvertently raised another option available to those of us who have been responsible. We can also stop being so responsible, consume power and pass the bill to others to pay. Even the village idiot can easily see that if enough people select that option, the DISCOs will be liquidated in no time at all. The banks, which also financed their investment will also be in deeper trouble than declining crude oil prices had already brought upon them. In the end, the entire privatization exercise will crumble – as it is bound to do anyway.

Micro-Finance

UPMFB pays 15 kobo dividend, decries poor loan repayment U

muchinemere Procredit Micro Finance Bank (UPMFB) has paid a 15 kobo dividend to shareholders in its financial year ended December 2013, lamenting poor customers' loan repayment. Also, the bank’s total assets grew by 10 percent, from N1.884 billion to N2.099 billion; statutory reserves and shareholders’ fund increased by 18 percent from N177.5 million to N217.1million and 10 percent from N538.8 million to N599.6 million, respectively in the year under review. Speaking at the bank’s 18th Annual General Meeting in Enugu, Chairman, UPMFB, Prof. Obiora Ike, gave the report, saying that a combination of resilience and determination are common spirit that broke barriers and took the bank from a small community bank in 1995 to a Unit MfB in 2007, State MfB in 2011 and a top 10 MfB operating at state level in Nigeria.

Stories by PROVIDENCE OBUH

According to Ike, “though the bank had enough funds

to give as credit and loans but the most critical challenge it had was getting customers to repay loans as and at when due for its sustenance as a bank.

“In consonance with the United Nations MDGs of reducing poverty index to 50 percent by the end of 2015, UPMFB has meaningfully made good impact in the lives

of people by issuance of credits and loans to over 100,000 customers since its inception,” he said.

Valentine promo: ICM rewards 10 loyal shoppers

keja City Mall (ICM), weekend, rewarded 10 loyal shoppers and their partners to an exclusive threecourse meal dinner at Rhapsody ’s, a premium cafeteria, located within the

shopping mall in the just concluded valentine promotion. To qualify, shoppers were encouraged to buy any item worth N10, 000 or more from any store in ICM and then drop their single

purchase receipts with contact details in the designated boxes at the three entrances. Over 500 receipts entered for the draw and eight shoppers were selected from a raffle where the other two were

Red hot promo: Airtel spends N90m in 60 days

eading telecoms service operator, Airtel Nigeria, has disbursed over N90 million within a period of two months in its just concluded Red Hot Promotion, presenting a brand new 2015 Range Rover Vogue to the grand prize winner Mr. Abiodun Adio, a commercial truck driver. A breakdown of the N90 million: the promo produced a daily winner of one million naira for 60 days, N30 million worth 2015 Range Rover Vogue and another set of 60 customers won iPads. Other prizes included Samsung smart phones for 10 winners per week, N10, 000 for 100 customers’ daily as well as free airtime to 5,000 customers every day. Managing Director, Airtel Nigeria, Mr. Segun

Ogunsanya, made the presentation of the luxury SUV to 48-year-old Adio at a prize presentation ceremony held in Lagos. Congratulating the winners, Ogunsanya expressed satisfaction with the success of the promo and commended the Telco’s customers for their loyalty to its brand stressing that the company will continue to seek out avenues of reciprocation. He said that the company remains very passionate about creating enabling platforms for its customers to achieve their dreams which are signposted by its introduction of the second season of the promo to continue the cycle of giving back to customers.

selected from City FM’s Gucci Guilty campaign, in the promo that started on February 1 to 17 of the same month. Speaking at the raffle draw in Lagos, Marketing Manager, ICM, Mr. Eniola Ositelu, said that the promo aims to take advantage of the season by encouraging shoppers to come to the mall. “Our numerous seasonal promos are meant to give value to our tenants at the mall. We have consistently ensured that the centre is a choice destination for shopping, leisure and entertainment and one of the things we have put in place to make shopping experience much better by encouraging purchases and foot traffic is rewarding our loyal customers.” C M Y K

38 — Vanguard, MONDAY, FEBRUARY 23, 2015

Economy

French-Africa economic forum in retrospect Okonjo-Iweala advocates blocking illicit funds transfer from Africa

he Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, who represented President Goodluck Jonathan at the forum called for a halt in illicit funds transfer from Africa. According to a recent report of the African Union and the UN Commission for Africa, the continent is losing more than $50bn every year in illicit financial outflows as governments and multinational companies engage in fraudulent schemes aimed at avoiding tax payments to some of the world’s poorest countries, impeding development projects and denying poor people access to crucial services. The report was praised by civil society groups as the first African initiative to address illicit outflows from the continent.

Dangote set to complete world largest refinery, fertilizer, rice plants By NAOMI UZOR

he management of Dangote Group, has said, that its focus now is to develop its multi-billion dollar new businesses to appreciable level this year to meet its completion timelines, as the group is putting in place infrastructure for business projects such as Refinery, gas, fertilizer and rice production. Speaking at the International Business Cable Television Channel, CNBC in Lagos, the Group’s Executive Director for Strategy, Portfolio Development and Special Project, Mr. Devakumar Edwin, said the Company was launching all out to ensure the businesses come on stream as planned. He explained that though a few of the new businesses has been redesigned for increased capacity and that , all things being equal, the management expects all to come on stream as earlier planned, inflation, exchange rate and increased bank interest rate notwithstanding.

Emma Ujah, who was in Paris, France

ost French investors appear to have been caught napping over the massive investment opportunities in the African continent, especially in the last one decade when the region’s average growth rate was above 5 per cent. At that rate, the region was the world’s second fastest growing region, after Asia. Realising that French investors would be left behind by other global investors if nothing was quickly done, the adminsitartion of President Francois Hollande, in collaboration with leading private sector operators of France, organized the French-African Economic Forum, in Paris, last week to call the attention of investors to the incredible opportunities in Africa and to mobilize them to take advantage of such opportunities. Setting the tone in his opening remarks at the event which was attended by over 500 investors and key public functionaries, the French Minister of Economy, Industry and Digital Affairs, Mr. Emmanuel Macron, said “the African ship is on sail and France must not miss that ship. “The African ship is on sail and France must not miss that ship. “ Realising that world powers like China had overtaken some of Africa’s traditional allies, Mr. Macron announced that the current French administration was working vigorously to ensure that trade between France and the region doubled in the next five years. He said that several agencies of government, such as, Mouvement des entreprises de France (MEDEF), or the “Movement of the Enterprises of France”, French Agency for International Development, private sector operators and civil society organisations have been mobilized to realize this goal. Speaking on the Nigerian economy, he said “I think the economy of Nigeria is resilient enough to weather, in the long run, the difficulties entailed by the sharp drop in oil prices. The economy is more and more diversified and the country can rely on other pillars than the oil sector. Moreover, there are numerous successful Nigerian entrepreneurs today in a capacity to create a lot of jobs and to foster growth in

the country”. On why French investors were interested in the Nigerian economy, he said, “Nigeria is the first economy in Africa by its GDP : growth is strong and steady, the purchasing power of households is on the rise and a large middle class of

be left behind in the on-going economic revolution in Africa. His words, “As historical partners, we must not be left behind in what we see happening in Africa. We must take advantage of the long relationship and private companies must be part of this”.

that all current challenges trying to pull Africa backwards must be stiflly resisted. Consequently, he called for a global push against the Islamists terrorists, Boko Haram, which threatens the security of Nigeria and the West Africa Sub-Region, in order to put it in check. According to him, in the

The African ship is on sail and France must not miss that ship

French President, Francois Hollande twenty-million people now exists. I think French companies are eager to support the development of Nigeria: they have a lot to share in the sectors of infrastructure building, consumer goods, energy and power and, of course, oil. “Information technology is also a economic sector to

“French people have not become aware of the great opportunities in Africa. No company can build its future growth strategy and ignore Africa.” He urged French companies in Africa and new investors to ensure that their presence brought to Africa a collaboration that would

Realising that world powers like China had overtaken some of Africa’s traditional allies, Mr. Macron announced that the current French administration was working vigorously to ensure that trade between France and the region doubled in the next five years

develop and to invest in: I am confident that information technology is a key leverage for growth and development, with strong benefits in other sectors such as banking, education, or health. In France, there exist experienced IT companies that have developed stateof-the-art devices that could find a relevant use for the economy of Nigeria. Today, more than fifty French companies are already operating in Nigeria: more will undoubtedly join them in the near future”. The president of the MEDEF, Mr. Pierre Gattaz, told French investors that France must not

guarantee mutual prosperity and socio-economic development. Mr. Gattaz noted that France had been in a long-term relationship with Africa which spanned several centuries and could not afford to adopt indifferent attitude to the region, more so that the current opportunities would benefit France and her people. Hollande seeks global push against Boko Haram President Hollande in his address to participants which included several African Presidents and Heads of Government said

current age of globalization, “an attack on one country is an attack on all, as our destinies are interconnected.” The Nigerian government has been pleading for international assistance to defeat Boko Haram, since 2012 but much of what the nation has received, until very recently, were mere promises. World powers like America not only refused to sell fighter jets and other military hard wares to Nigeria but even blocked other countries of the world from selling what Nigeria needs to defeat the terrorists. Mr. Hollande expressed optimism that with establishment of the African Unity Force to fight the terrorists, and especially the cooperation, being currently demonstrated by Chad, Boko Haram would be effectively destroyed. France, he said, went to Mali a few years back based on his conviction that not only was the Malian territorial integrity under threat, but the whole of West Africa could come under unprecedented attacks by the terrorists operating in Mali at that time. “We went to Mali because, not only was Mali going to lose its territorial integrity, all of West Africa was under threat”, he said. President Holland also called the attention of the global community to the effects of climate change on the African continent, as a major cause of socioeconomic upheavals in the region, especially as large numbers of people were being uprooted from their homes, owing to desert encroachment.

Vanguard, MONDAY, FEBRUARY 23, 2015 — 39

e-Commerce

demola Olukotun is the Country Manager for the French multinational electronics company, Archosin Nigeria. In this interview with Jonah Nwokpoku, he speaks on the entry of Archos’ smartphones into the Nigerian mobile phone market. He also shares insights into opportunities in the mobile devices market as well as how the authorities can better tackle the challenge of fake products. Excerpts Your company is entering a market which is already filled up with different kinds of mobile devices, what opportunities do you think are still there for you?

Nigerian phone market not saturated yet —OLUKOTUN

Nigeria is still an emerging market and the market is far from being saturated. We presently have 4 major GSM network carriers in Nigeria and one strong CDMA network. Feature phone users

versus Smartphone users on each of this network are 80 – 20 per cent. We have over 110 million telephone users in Nigeria, according to statistics from Nigeria Communications Commission, NCC. This means that 80 to 85 million subscribers presently use feature phones. This is the reason why all network

operators are trying to encourage subscribers to use data now. Smartphones can only be used to surf the internet. This gives you a number of 80 - 85 million subscribers’ as prospective Smartphone users in Nigeria. So I believe the market is not saturated. There is still a lot of potential in this market. Are Archos products NCC type approved and SON certified? Yes. All Archos devices have gone through both certifications. I will like to state categorically that Archos is not just a green horn in the telephone industry. Archos has been existing since 1988 with so many milestones. For instance, Archos is the first brand to launch the first Android tablet in the world. Over time, we have strategically made an in route into so many countries like France, Poland, Senegal, Russia, United States of America, Spain, England etc. Archos is one of the leading EU brands. So whatever we do, we adhere strictly to the ethics of the sector. What are the features that set Archos brands apart from its competitors? Archos is not a brand that is struggling in the market. We are enlisted on the New York Stock Exchange. Archos products all have Declaration of Conformity (DoC) and the Certificate of Engineering (CE). Our products are E u r o p e a n standard devices with good quality Smartphones and tablets at a very competitive price. I believe these are unique selling points. The

Ademola Olukotun connected objects are also different accessories strictly from our Research and Development units. These are new innovations that actually set us apart from all other Original Equipment Manufacturers. What is your strategic agenda and future plans for the Nigerian market? We have a vision to make Archos products the choice and preferred brand of smart devices for all classes of people in Nigeria, and within a record time. What do I mean by this? Archos plan flooding Nigeria with quality and affordable products. Archos also intends to create some level of intimacy with users of its devices in the country. Archos is poised to garner between 30 – 40 per cent smart devices market share in Nigeria. In Nigeria today, 80 per cent of the network users, use feature phones. These are purely low end phones without data capabilities. In numbers, this means we have approximately 80 million phone users using feature phones. These feature phone users can gradually step up to using Smartphones. This shows that there is a lot of opportunity to tap into the market. Our long term objective will be to provide affordable and qualitative Smartphones and tablets for all classes of Nigerians. We are willing to invest heavily into this economy. We will not quit in a hurry and our spread will be strategic and steady. What do you think NCC should do to check the influx of inferior brands into Nigeria? I feel they should optimize their laboratory to a better standard in order to test all devices before they are launched into the market. They should also sanction all OEMs without type approvals for their devices. For instance a brand that cannot be used in other countries should not be allowed into the Nigeria market at all, no matter who is bringing it into Nigeria.

40 — Vanguard, MONDAY, FEBRUARY 23, 2015

People in Business did not just want to do what every other person was doing so we brought in something a bit different from what could be regularly got from the market. We brought in oat that has two basic components – soya lecithin for the protein and it does not allow the oat to boil over and spill. For us, that is an advantage. Secondly, we added golden syrup which makes our oat q u i t e unique."

My ultimate goal is to go into manufacturing —NZUBE ODINA BY EBELE ORAKPO

r Nzube Odina is the Managing Director/Chief Executive Officer of Pomegranate Distributors and Company Limited, a food distribution outfit based in Abuja. In 2000, he obtained his first degree in English Literature from the University of Benin and thereafter, did his one year compulsory service to fatherland at the Central Bank of Nigeria. On completion of the youth service program, he worked with a furniture company in Abuja for about a year and some months and resigned because according to him, there was no job satisfaction, he wanted to do more. Excerpts: Launching out: "I started thinking of what I can really do to add value to myself and society at large and I felt the best thing was to follow my mind which is entrepreneurship. We conceived Pomegranate Distributors and Company Limited because we wanted to go into manufacturing, that is the ultimate goal. We felt we should first of all gain some experience from those already in the business of manufacturing. We will distribute their goods and learn the intricacies." Why I chose oats: "I thought about what everybody needs everyday, something that people will always want, that you don’t necessarily have to go begging people to buy. "I narrowed it down to food because I believe that food is very important, everybody needs food. So I did a Google search on companies that are doing well in food with whom we would partner and start distributing their products for a start. I came across a company in the UK known as Morning Foods Limited. I did a check on them and their history was very interesting. The company was started in 1675 by their forebears. Basically, they are into oats and again, oats struck me because I love porridge oats and at the same time, I was thinking about something that cannot readily be produced in Nigeria. My ultimate goal is to produce here in Nigeria but I thought I needed a C M Y K

leverage, I needed to gain experience in distribution, about networking, knowing the psyche of consumers and all that. I felt that oat is good. It does not grow in Africa but mostly in temperate region. "So I sent them an email and after two days, someone replied me, one of the grandchildren of the founders. He said yes, that he is interested and that we

Government can provide mass storage facilities that people can use for a fee, it will help businesses to grow

could do something together but that it would be nice if we could meet first." And so, Odina started working on his visa. He said it took him quite some time before he could get finances ready so in November 2012, he travelled to the UK. "We met and discussed at length, I told them my plans

Distribution: For

*Mr. Nzube Odina

Lagos, we couldn’t do it in Abuja. We were going to Lagos every two or three weeks to be able to register. So I think in terms of regulation, they should imbibe this online culture that is trending all over the world now. We should be able to submit our certificate and get verifications online. May be for physical inspection, they could come but every other thing should be done online." Infrastructure: Government can also work to improve on infrastructure. Each time you travel by road, you see a lot of arable land but you find out there are no infrastructure, you see rickety houses, no roads, people fetch water from far away streams. If government can provide roads and if in every region we have a cargo port, when these farm produce are ready, they can easily be moved. Government can also

and vision, that basically, I want to start with this but the ultimate goal is to produce here in Nigeria. We agreed on all these. When I came back to Nigeria, we organised our private label called Nochiz which is a mixture of my name and my wife’s name Nzube Odina and Chibuzo." NAFDAC registration: "We got in touch with NAFDAC and began the process of registration. It was tough because there were so many bottlenecks. It was kind of clumsy but thank God, we were able to go through it. It took us about seven months to get the registration done, paid all the fees etc. "Our first consignment came in last year and ever since, we have not looked back. But as I said, the target is for this to be a learning curve for us, we intend to have an assembly plant in Nigeria where we can bring in the products in bags and repackage here and also go on to produce foods like cornflakes and a whole lot of things that we can use our locally sourced raw materials to do, especially with our relationship with Morning Foods. They will also give us their expertise. These are the things we hope to achieve in the very near future.,"he enthused. Unique selling point: Most oats in the market are plain oats so we thought of what could stand us out. We

now, we have an *Nochiz oats outlet in L a g o s w i t h distributors. We also have distributors in Ogun State and Abuja. We also do door-to -door delivery to supermarkets and stalls. I think government needs to do a lot especially in the area of regulation." What govt should do: "The bottlenecks in registration by NAFDAC should be made a little bit easier for people - from the fees you pay to the level of inspections. We thought there are some things that could be done online, you don’t necessarily have to physically go there. Although they make provision for online but you are never able to register online. Some registrations should be done online, it makes it easier. For instance, when we wanted to register Nochiz, we had to travel to

help in providing mass storage facilities because it is heart-breaking that each time yo u d r i v e t h r o u g h these places, you see a lot of fruits rotting away. But if we have something like a mass storage provided by government and people are charged for using it, it will help businesses to grow." Expectation: In the next five years, we hope to see Nochiz as a company that is producing cereals in Nigeria. We have a lot of cereals we could work with such as millet, maize and soya. In partnership with Morning Foods, we intend to start manufacturing cornflakes locally. We also want to use soya to produce good morning cereals that families will enjoy. "

Vanguard, MONDAY, FEBRUARY 23, 2015 — 41

Tax Matters

How to file your tax returns on the FIRS electronic Platform Requirements for e-filing

· The Taxpayer must have registered and obtained TIN before accessing the e- filing platform. · A duly completed access form obtainable from the FIRS site or the Tax Office where the taxpayer affairs are handled must be completed and submitted. · The access creation takes cognisance of the type of access rights given to User by the Chief Executive Officer [CEO] or Managing Director [MD] or Principal Officer of the Company. The User’s credentials/profile in this case would have been spelt out on the access form that was completed by the CEO/MD or Principal Officer of the Company. The User may include an employee and or a Tax Consultant. · The access right delegated to the User may be withdrawn through notification to the Tax Office by the CEO/MD or Principal Officer of the Company. · Upon submission of the access form, the assigned officer of the Taxpayer Service Unit in the Tax Office creates the User using the User ’s profile stated on the access form. · The details on the access form is used to generate User ID[i.e. Username and Password] · It is required that the Password is instantly changed upon first log in. · The information given in the access form will determine which of the access rights the user is entitled to. These include · View only · Declare (i.e file returns) · TIN Validation · Submission and upload of supporting documents (tax and nontax related) · TCC Validation · It requires access to internet gateways such as; internet explorer not below 10, google chrome or any fire fox etc. Steps to filing tax returns 1 .Download the e-filing access application form from http:// www.firs.gov.ng/Tax-Management/ Pages/ITAS-e-Filing-Platform.aspx 2. Complete the form and indicate your desired access right. 3. Return completed form to the FIRS office where your tax matters are treated. 4. Obtain your username and password from the tax office having used the information on your form to generate it. 5. log on to e-filing platform either from the FIRS site stated above or through the address https:// efiling.firs.gov.ng. 6. Change your password upon initial log in. 7. Upon successful log in, you are positioned on the e-filing page to file any declarations/returns which need to be filed. 8. To start your declaration, click on the “View all declarations to be

filing: · Relevant Tax Returns · Relevant Excel Schedules saved in appropriate CSV file

filed” hyperlink or on the “Taxpayer Service” tab to select the tax types you want to file and double click on the plus (+) sign. 9. Click on the “File now” hyperlink. 10. On the tax return form displayed, identify relevant Line Details to complete or schedule to upload. 11. Enter the amounts for the required form lines in the filing currency previously authorized for the tax account for which you are filing or you can upload csv file for both the formlines and/or schedule. The upload from csv file is explained in note 1 after step 18 below. 12. Click on the “Submit declaration” button. 13. Verify and ensure that the amounts entered are correct, if not click “back” to go back and make corrections. 14 Click on “Yes” for the returns to be submitted. 15 Click on “End Declaration Process” hyperlink. 16. View Filed Declaration page which gives you a summary of your declaration; the document number is displayed at the top right hand corner. 17. Copy the document number which is required at the bank to settle the tax liability or you print the submitted declaration by clicking the print button for you to see the filed declaration with document number on it. 18. Contact itas.change@firs.gov.ng; itasproject@firs.gov.ng; 08115900301; 08115900021 for further enquiries. Note: A. CSV configuration for shedule upload in SIGTAS and E-filing The schedule prepared in excel file must be saved in CSV file · The CSV - Comma Separated Value is used to import information or data in excel to the system. · Before saving any excel file for CSV upload, the computer system must be in decimal separator configuration. · To configure a system to

decimal separator, you click file at the menu bar, click on options and select advance on the second screen. · Check the decimal separator box and enter a comma ( , ). The system is now on decimal sepeaator. This is done only once for a system · There and then you save the excel with csv dos[disc operating system], comma delimited and others excluding Macintosh. This is the only csv version that does not work with SIGTAS. · The CSV can work with or without labels. If it is with labels, it means information to be uploaded must have headings at first column and first row, but where labels are not checked in, it will exclude the first row and first column that carry the headings. B. System requirements for e-filing o Internet Explorer not below 10 o Google Chrome and o Any Fire Fox C. Truncated declaration process This may be caused either by network/power failure, session time out or the e-filer who may discontinue the declaration process to seek further clarification or gather additional information. In either case, the e-filer can relog-in and continue from where he/she stopped by clicking on “in progress” and complete the declaration. Taxes that can be filed using e-filing Platform for now · Petroleum Profit Tax · Education Tax · Companies Income Tax · Value Added Tax · National Information Technology Levy · Capital Gains Tax Documentations required when making e-filing Beside system requirements earlier mentioned, the following documents are required when conducting e-

Benefits of e-filing E-filing platform provides the following benefits: · Self-service Platform using a personal computer, laptop, tablet or any device with a connection to the internet, from the comfort of your home, work or any place that is convenient to you. · It saves your time and money as the returns are filed online. You do not need to produce hardcopy returns and transport yourself to tax office to submit tax returns. · P r o m o t e s voluntary compliance due to its convenience. · Keep your information secure and confidential. The e-filing environment is secured and safe with your User ID and password, ITAS/ SIGTAS platform will ensure that your tax information will be safe and confidential. · The system takes all submissions by taxpayers as self assessment · The system does the calculation at backend for you. The Declaration [Tax Return] Forms are system driven, that is the formlines are linked to back-end computation and helps taxpayers to avoid common errors like using wrong rates and committing arithmetical mistakes. · P r o m o t e s transparency and boost taxpayer confidence and trust in the system · Saves taxpayer the rigours of going to tax office to confirm TIN and apply for TCC · Taxpayer can update her profiles without going to tax office to do so Taxpayer can use · message centre to make enquiries and receive instant reply for tax office · Tax account balance can easily be queried from the e-filing environment before taxpayer applies for Tax Clearance Certificate (TCC) C M Y K

42 — Vanguard, MONDAY, FEBRUARY 23, 2015

Vanguard, MONDAY, FEBRUARY 23, 2015 — 43

Advertising

LAUNCH - From left: Mr. Israel Bolaji, Public Relations Manager, StarTimes, Ayokunle Idowu, Content Manager, StarTimes, Somoye Habeeb, Marketing Manager, StarTimes, Salisu Habu representative of Lagos State Director, Nigerian Broadcasting Commission and Mrs Betsy, Marketing director, NTA 2 at the launch of StarTimes Nova bouquet in Lagos.

RELATIONSHIP MARKETING: Between

experience & customized Coke STORIES BY PRINCEWILL EKWUJURU

he adage “the Customer is king” has never been closer to reality than in today’s marketplace where the consumer does not only exercise choice among competing brand offerings but does define and even dictate the offerings. Today ’s consumers want more than the functional satisfaction of a product or an

informative and interesting advertisement. They want brands to see and relate with them not as statistics or mass targets but as real persons with points of view and emotional needs. Simply put, consumers now want an experience! And the brands that can meet this new craving will certainly win the hearts and minds of their consumers which in most cases fosters brand loyalty. A handful of consumer-

focused brands evidently understand this shift in consumer orientation and have in recent times put in plenty of effort in ensuring that they offer unusual consumer experiences. And Coca-Cola appears to have taken this response a notch higher with its ongoing ‘Share a Coke’ campaign. With the ‘Share a Coke’ campaign, not only is CocaCola satisfying its consumers’ cravings for recognition and

brand experience, it is doing so in a very personal way that has struck the right chords with consumers everywhere. This reality was clearly evident when the brand thrilled students and other consumers at the University of Lagos, UNILAG campus with on-the-spot customisation of Coke cans. Teens and adults thronged the venue to get their names and those of their friends branded on Coke cans. Majority of the lucky persons who got the personalized cans, even if they consume the content, they will certainly keep the cans as prized memento. This particular campaign speaks to them and appeals to that basic human need to be recognised. It was their moment in the sun and they were not deterred by the scorching Lagos Sun;they basked in the excitement of having their names and that of their loved ones replace the iconic Coca-Cola logo on the cans. The event started with interested students standing in line to get their names on Coca-Cola cans. As they approached the attendants clad in Coca Cola T Shirts, they offered the names they wanted on their cans of Coca Cola and in less than ten minutes, they were given their customised Coca Cola cans. The consumers also got an opportunity to capture the moment at the Coca-Cola branded selfie stand.

Chi Exotic deploys ‘taste of paradise’ TVC I

n addition to the quality of any product, it’s never an easy task to produce a clear and effective brand message that will instantly resonate with consumers, especially when the brand promise is emotional and subject to imagination. The television commercial, TVC, currently running on various television channels

has already received wide acclaim for its succinct depiction of the Chi Exotic brand with premium and persuasive imagery. According to Ibrahim Mutallab, a communications expert, the messaging is apt as an experience of the brand resonates with the feeling of uniquely savory taste typical of natural fruits.

In effect, there is no gainsaying that the TVC which opened with a lady who paused to take a drink of the brand while working on her laptop successfully communicates the exotic nature of the drink. As she savoured the fresh, natural and rich taste of the drink, she closed her eyes in sheer pleasure and was briefly

CUPID GAME: Close-Up dares consumers

lose-Up, a brand from the stable of Unilever Nigeria is calling on its consumers to dare the brand and participate in the Close-Up cupid game. According to the brand team, Cupid game is a platform provided for young individuals to be confident in expressing their feelings for that special person. During the course of the game, participants will demonstrate how far they can go for love by taking the challenge which is in form a dare. Top ten creative participants will be rewarded with exciting prizes like Beats by Dre headphones and get invites to cupid games grand event where they get to hang out with Davido and Yemi Alade. The grand prize winner will go home with a brand new MV Agusta

Brutale 80cc Power Bike, second and third will get a pair of personalized Apple Mac Books and Ipads respectively. Speaking at the launch, Mr David Okeme, Brand Building Director, Unilever Nigeria Plc, stated that Cupid game is an engagement platform created by Close-up for young adult to connect and show their loved ones how much they care, especially at valentine. Also speaking at the launch, Category Manager Oral Care, Oiza Gyang, added that Closeup Cupids Dare Game is a conversation starter meant to get people closer while demonstrating the extent they would go for love. To play the game, consumers are expected to go to cupidgames.closeup.com.ng.

transported to an exotic beach on a fantasy island. Dressed in a light chiffon gown, she floated along the beach before sauntering into the orchard nearby to revel in heady pleasure of exotic fruits – coconut, pineapple, mango, orange and berries that abound. In an effort to enhance preference for the brand, the TV story effectively matched the brand message with each and every component of the Chi Exotic Nectar brand. As the lady opened her eyes and realized she was in fantasy land, she took another sip and returned back to ‘paradise.’ Mrs. Jumoke Ayomide, a Physical and Health education teacher at a Secondary School in Maryland , who takes the brand regularly, stated that she is attracted to the drink because of its natural, rich and unique taste. “It is a drink that is worthy of indulgence,” she said. She noted that Chi Exotic Nectar Juice always satisfies her longing for its distinctive refreshment.

Campari lifts distributors' profile with car gifts

rian Munro Limited, sole importer of Campari, an alcoholic bitters, raised the profile of its distributors with a car gift for their performance and contribution to the success of the brand in Nigeria. At the annual award in Lagos, three distributors emerged top winners in the 2014 business year, where Mr. James Onoja and Mr. Ndubuisi Onyenanu emerged top winners of the Star Prizes of a brand new Toyota Prado Sport Utility Vehicle,SUV and brand new Toyota Hilux respectively. While the third prize was a Toyota Hilux, which went to Mr. Donald Chukwu, who was represented by his wife. The winners who could not hide their excitement, said through Onoja: “we are very happy with this honour and reward given to us. It shows that this company value its distributors and wants to encourage us to do more. We will not disappoint the confidence reposed on us.”

FIL names former STV girl brand ambassador By ONOZURE DANIA

edan Investment Limited, FIL, a communication gadgets and device brand in Nigeria has made a former STV girl Chioma Obianinwa its brand ambassador. Obianinwa whose unveiling was held in Lagos signed a 2 year deal while pledging her loyalty to promoting the FIL brand in the Nigerian market. Speaking during the media unveiling, the Managing Director of Fedan Investment Limited, Mr. Daniel Chinemelum expressed confidence on picking the former TV personality as the brand ambassador of the various products of the company. His words, “ we chose her because of her credibility, professionalism and being an award winning broadcaster and internationally recognized personality. With her fame she will project us for both international and Nation wise so that our product will be known. We also have trust and confidence in her.” He noted. C M Y K

44 — Vanguard, MONDAY, FEBRUARY 23, 2015 Email:lesleba@lesleba.com, lesleba@gmail.com Blog page:www.lesleba.com/blog2 Website: www.lesleba.com Tel:0805 220 1997

“Let me issue and control a nation’s money and I care not who writes the Laws” Mayer Amschel Rothschild (1714-1812). “I am afraid the ordinary citizen will not like to be told that the banks can and do create money. And they who control the credit of the nation direct the policy of Governments and hold in the hollow of their hand the destiny of the people.” Reginald McKenna, Chairman of the Midland Bank, 1924.

ne may ask what these quotes have to do with the above title. In reality, however, the unsung collaboration in creating money between our Central Bank and our Money Deposit Banks, infact, has a lot to do with our social welfare, particularly with regard to the adverse consequences of such collaboration on the rate of inflation, the cost of funds and ultimately on the exchange value of the Naira. Regrettably, successive CBN Governors, have knowingly instigated and liberally expanded the capacity of our banks to create money, such that the Nigerian economy has become oppressively retarded by an enduring suffocation with surplus Naira, otherwise known as, excess liquidity. The resultant systemic Naira surplus endlessly chase relatively limited goods and services and inevitably leads to the need to part with much more Naira for what we buy; consequently, the Naira has ultimately commanded less and less purchasing power with uncaged Naira surplus. Similarly, with excess Naira supply and contrived dollar scarcity by CBN, more Naira will be demanded for each unit of dollar offered; inexplicably, however, cost of funds have remained very high despite increasingly excess Naira! The above contradiction and the attendant adverse consequences for inclusive economic growth favoured the adoption of the bye line “SAVE THE NAIRA SAVE NIGERIANS” in hundreds of this writer ’s articles since

2004. The slogan succinctly captures the essential message that protecting the value of the Naira will redeem millions of Nigerians from deepening poverty. Senior citizens, still remember with nostalgia the pronounced swagger of Nigerians, domestically and internationally, at a time the Naira exchanged for 50 kobo to $1. Ironically, this evident affluence and the bourgeoning industrial landscape existed when Nigeria’s foreign reserve was far short of $10bn with Gross Domestic Product well below one tenth of the current $500bn plus; clearly, the albatross of surplus Naira and the contradiction of high cost of funds were not abiding features of the money market during that golden era. Subsequently, however, after the adoption of the IMF Inspired Structural Adjustment Programme, distortions associated with increasingly systemic Naira excess began to manifest. Nevertheless, the expert management of money supply (money creation) by the Late Prof. Sam Aluko, who was Economic Adviser between 1995-98 kept the challenges and distortions of excess Naira supply at bay. Thereafter, the flood gates, of unceasing liberal Naira creation by the CBN and banks, were flung open to make the attainment of industrially supportive inflation and monetary policy rates below 3% impossible. Ironically, the economic stability of the Aluko years existed with a paltry foreign reserve base of $4b which supported an exchange rate

Save The Naira, Save Nigerians

of too much Naira with its attendant oppressive distortions to consumer demand, cost of funds and the Naira exchange rate. Over the years the CBN laboured in vain to maintain equilibrium in Naira supply; in fact, all strategies adopted, including the present clearly desperate mandatory cash reserve ratios and oppressive CBN monetary policy rate of 13%, have so far, failed to effectively restrain the credit capacity of (read as surplus money creation by) the banks. Yet one strategy that the authorities refuse to countenance is the realistic possibility of eliminating or minimally reducing the burden of surplus Naira by paying the dollar component of monthly allocations with dollar certificates or coupons, which beneficiaries can redeem in Naira at prevailing market rates from any commercial bank! At a stroke, this move will exorcize the curse of surplus Naira as the CBN’s usual impulsive supplementary monthly Naira creations will no longer be available to provide commercial banks with the capacity to, in turn create additional Naira values which expand the distortions caused by omnipresent Naira surplus, which inevitably also incapacitates CBN’s otherwise potent monetary instruments for establishing monetary equilibrium. The longer the monetary authorities remain in denial of this reality, not even the unexpected recovery of oil prices above $100/barrel would save the economy or the Naira from further crashing below N300/$1 this year!

of N80 = $1. Curiously, however, in post Aluko years, much higher export dollar revenue have actually instigated and expanded the capacity of the CBN and commercial banks to recklessly create systemic surplus Naira values which

money, there is little chance of the real sector getting the support they need to grow the economy. Nonetheless, the collusion of the CBN with banks in the liberal creation of surplus Naira has an equally damaging impact on the exchange value of our currency; Nevertheless , expectedly if the Naira purchasing CBN’s projections power is suggest that in consistently seriously eroded 2015, banks may overtime, the public earn well over would eventually N600bn from loose confidence in the Naira as a store investing the of value, and will surplus funds therefore shift their holdings to other they create in perceived stable buying the currencies such as treasury bills the dollar. Conversely, if there was Naira makes it possible for banks to scarcity in the market while lend these Naira values they dollar supply is liberal, then internally created, to one would normally pay less government at between 10-16 Naira for each dollar offered; % rates of interest, while sadly, however the Naira inadvertently also providing suffered devaluation from the primary feed stock for the N80 in 1998 to N140 = $1 extensive ‘slush’ funds in the despite our best ever surplus reserves of almost $60bn in country. Nevertheless , CBN’s 2010, because increasing projections suggest that in Naira supply consistently 2015, banks may earn well confronted centrally rationed over N600bn from investing dollar auctions . The question therefore is, the surplus funds they create in buying the treasury bills where does the unceasing which CBN sells in order to excess Naira come from; the restrain inflation by reducing answer, evidently is that the the capacity of the banks to spectre of surplus Naira is create more Naira and initiated by the Naira values suffocate the system. The CBN creates as monthly result of the above sleight of allocations in place of dollar hand may be seen as a derived revenue. The genuine and legal economic commercial banks, inevitably activity, but its impact is the leverage on the bloated Naira from these widening gulf between the deposits to create rich and the poor. Clearly, allocations with such an easy opportunity additional Naira values which for banks to make good precipitate the “evil scourge”

SAVE THE NAIRA, SAVE NIGERIANS!!

Business & Economy PTF: Afri-Projects Consortium denies involvement in wrong doing By NKIRUKA NNOROM

f r i - P r o j e c t s Consortium has denied allegations of wrongdoing against it and the defunct Petroleum Trust Fund, PTF. The company described the statement credited to Chief Femi Fani-Kayode, as a smear campaign intended to rubbish the accomplishments of the Petroleum (Special) Trust Fund (PTF) which operated C M Y K

between 1995 and 1999, under which the firm served as Management Consultants. Fani-Kayode was quoted as referring to the late Salihijo Ahmad, a member of AfriProjects Consortium, as “the witness that could have nailed Buhari about the graft that took place at PTF … but died under mysterious circumstances”. In a statement issued by Engr. Nuruddeen A. Rafindadi, FNSE, Past President, ACEN – Partner; Alh. Murtala Aliyu, FNIQS. President, NIQS. – Partner;

Engr. A. Dahiru, FNSE. – Managing Partner and Ms. Amina J. Mohammed. UN Secretary-General’s Special Adviser on Post-2015 Development Planning– Partner (Rtd.), the company said members of the Board of Trustees of the defunct PTF were all persons of towering character and esteem. The statement further stated that members of Afri-Projects Consortium were men of impeccable character who had undertaken several national and international assignments during and after the PTF years.

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

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

Media/Marketing E-Commerce Industry Micro Finance Graphics Department

Vanguard, MONDAY, FEBRUARY 23, 2015 — 45

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48â&#x20AC;&#x201D;Vanguard, MONDAY, FEBRUARY 23, 2015

President Goodluck Jonathan flanked by the Catholic Bishop of Abuja, John Cardinal Onaiyekan (4th left) and the President Catholic Bishops Conference of Nigeria, Bishop Ignatius Kaigama, and other bishops at the first Sunday in Lent at Our Lady Queen of Nigeria Catholic Cathedral, Abuja. Photo: Abayomi Adeshida

President Goodluck Jonathan (right) welcomes some Islamic clerics to the State House, Marina, Lagos, weekend. Photo: State House

Presidential Candidate of the All Progressives Congress (APC), General Muhammadu Buhari (left) responding to questions from the Chief Executive Officer, All Eyes on Africa TV Show, Kemi Fadojutimi (right), during Buhari's Working visit to the United Kingdom.

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GeneralMuhammadu Buhari (right) with Speaker, House of Representatives, Aminu Tambuwal in London

Vanguard, MONDAY, FEBRUARY 23, 2015—49 to be produced in Nigeria. On this note, it has been recognized all over the world that the private sector is the engine of growth and production and investors are the facilitators in the private sector for productivity. Therefore, every Nigerian diplomatic mission has a mission statement to attract investment to Nigeria which could translate into job creation, technological transfer, capital transfer, skills transfer and general economic development of the country. In this regard, we hold seminars and conferences on topical issues to bring American investors and Nigerians together, with a view to sensitising them on the investment prospects as well as incentives and opportunities available in the country. We create such platforms and matchmaking every year and this year will not be an exception. To what extent in your opinion has the African Growth and Opportunity Act (AGOA) impacted on the Nigerian economy? By my own assessments, the African Growth and Opportunity Act (AGOA) has not impacted much on the Nigerian economy as compared to other countries like Ghana, Senegal, Mauritius, Madagascar, among others. This is because of two major factors: one is because Nigeria has not taken full advantage of these opportunities as other countries, partly because of our sense of comfort as a result of easy money derived from oil and gas. Another are the impediments and obstacles being put by the United States authorities relating to export of certain products from Nigeria into the United States under the scheme. Nigeria should step up efforts and take full advantage of the provision of the programme now that the mantra is the diversification of the economy from its mono-economic nature of crude oil production and export. Every extra dollar earned from other sectors would be important.

Nigerian diplomatic missions out to attract investments—Teneilabe

h i g h e s t concentration of Nigerians in the United States within our consular jurisdiction. They number more than 500,000 but this figure ought to be updated. I believe the number would be more than that as Houston alone is expected to of ensuring that host not less justice is done in than 250,000 every issue of especially if detention and trial the new i n c l u d i n g •Amb. Geoffrey Teneilabe, Nigeria's Consul General in generations of d e p o r t a t i o n Atlanta, USA Nigerians born proceedings since in the United we don’t have funds for the include but are not limited to the States are added. It is why they Nigerians in Diaspora purpose. could influence votes and How would you describe your Association (NIDO), Alliance of Congressmen and others relationship with Nigerians Nigerian Organisations of running for offices could pay Georgia (ANOG), the Nigerian under your jurisdiction? attention to them as a group. The Consulate-General Women Association of Georgia Do you have any action plan maintains excellent relationship (NWAG), Nigerian Youth for attracting US investment to with Nigerian communities Alliance (NYA) and so on. Nigeria? within its Consular jurisdiction. Similarly, we sometimes make our Yes indeed, because today Not only did we try to take care facilities available to some of these Nigeria’s Foreign Policy is itched of the welfare of Nigerians and associations relating to the on Economic Diplomacy. The attend to their needs particularly provision of our Reception Halls Nigerian economy needs to be with reference to the issuance of and other rooms for their diversified from its monovisas, passport, travel documents, meetings and work with them to economic nature. It is not healthy authentication of documents, host visiting Nigerian dignitaries that we spend about $10bn or issuance of documents for bodies invited to grace occasions hosted more importing refined of deceased Nigerians, and by them. petroleum products; $4bn In addition, we make it a point other necessary requirements but importing motor vehicles and we also maintain close contact to attend their events as a way of spare parts and over $4bn with the various Nigerian giving such events pride of place importing food, etc. We must be associations if memberships are and credibility in the perception able to produce what is possible open to all Nigerians irrespective of the American public. Moreover, we are currently of ethnicity and creed. Sometimes we also render working with the Nigerian modest financial assistance to community to establish the such associations in the course Nigerian Diaspora Diagnostic of their annual events or when and Trauma Centre, bringing all they are raising funds for Nigerians in the Diaspora to By Erahodu Osaprojects. Such associations contribute to its establishment in ghale Nigeria as a monument of their HE dramatic contribution towards the departure of Chief healthcare system in their Olusegun Obasanjo from fatherland. the PDP marked a major turning point in the Medical dynamics of national treatment politics, which may not be easily recognized amid the Nigerians spend over $1bn a high level propaganda war year seeking medical treatments triggered by the overseas and any contribution electioneering season. To towards redressing this situation the uninitiated who can only be in the right direction. Nigerians spend constitute a majority, the We have so far hosted all the self-expulsion of such a over $1bn a year meetings-renting the venue, bigwig of the PDP is a loss providing launch and sometimes seeking medical to the party. Indeed, media coverage and today the Obasanjo himself treatments overseas Nigerian Diaspora Diagnostic packaged the event as a and any and Trauma Foundation has been parting shot aimed at formed, while a major doing political damage to contribution fundraising for the project is President Goodluck towards redressing scheduled for March 21, 2015. Jonathan and the PDP as Do you have statistics of this situation can a climax to months of Nigerians living in States under brazen anti-party activities only be in the right your jurisdiction? that included public As mentioned, we have the direction criticism and spurious

AMBASSADOR Geoffrey Teneilabe is the Consul General of the Federal Republic of Nigeria in Atlanta, with jurisdiction over 17 Southeastern States of the United States of America. Prior to his assumption of duty in Atlanta as Consul General, he was respectively the Senior Special Assistant to the VicePresident and the President of Nigeria on International Relations/Audience. Recently, he had a chat with Vanguard wherein he shared about his relationship with Nigerians under his jurisdiction, strategies to attract US investment to Nigeria, AGOA and plans to set up the Nigerian Diaspora Diagnostic and Trauma Centre. By Victor Gotevbe & Vera Samuel Anyagafu

HICH are the States under your jurisdiction? As a Consulate, we cover 17 States and territory mainly in the south east and the Gulf regions of the United States. These include the State of Georgia, North & South Carolina, Alabama, Tennessee, Kentucky, Arkansas, Texas, Florida, Louisiana, Missouri, Mississippi, Oklahoma, Kansas, West Virginia, New Mexico, and the territory of Puerto Rico. It is an area with a population of over 120 million people and a Gross Domestic Product (GDP) of over $4.2 trillion. We have the highest concentration of Nigerians within the Consular District with a population of over 500,000 Nigerians. Houston has the highest concentration of Nigerians, followed by cities like Dallas, Atlanta, San Antonio, Miami, Raleigh, Charlotte, etc. Of the States under your jurisdiction, from which State do you receive the most requests for Consular assistance? As I mentioned earlier, the state of Texas has the biggest concentration of Nigerians and, naturally, that is where the highest number of Consular assistance emanates.

Financial assistance These requests are varied and include financial assistance to Nigerian organizations, assistance for burial or repatriation of bodies of deceased Nigerians, financial assistance to Nigerian students, consular assistance for Nigerians in prison in respect of inadequate justice about their cases, etc. Does your office provide legal assistance to Nigerians in deportation proceedings? We would have loved to, but considering the expensive nature of justice in the United States, we can only manage administrative assistance in terms C M Y K

OBJ's exit and PDP's future

allegations against the President and openly hobnobbing with the APC leaders. As a result, his eventual departure was not surprising, just as his hostility to the President and the party was obvious. But, as the saying goes, there is more than meets the (ordinary) eye in Obasanjo’s quitting the PDP, the implications of which actually amount to a victory for President Goodluck Jonathan and the ruling PDP. The significance of the event stems from the personality of Obasanjo as a pioneer president of the PDP, who managed to impose himself on affairs of the party and by extension the nation, to the extent that even after his two-terms in office, he paraded the corridors of power as would Continues on page 58

50—Vanguard, MONDAY, FEBRUARY 23, 2015

tic to install the government that they deserve. They won’t be intimidated by anybody, they won’t be harassed by anybody, they won’t submit to all that threat and intimidation. It is a matter of time and we will rise to the occasion. We will cast our votes, we will defend our votes and we will ensure that our votes count. I am very optimistic and I am very convinced.

Security agencies

•Peterside: Governor Amaechi has laid very good foundations for the state

RIVERS: Why Wike is a walkover — Peterside

I am also optimistic that we will get the cooperation of security agencies and will continue to spotlight what is going on in Rivers State and will attract the attention of the nation and the international community. It is not optional, because if votes don’t count in Rivers State, there is no guarantee that it will count elsewhere in the country. Today, we might isolate what is going on in Rivers State and say this is Rivers. If this trend of violence in Rivers continue, people in other areas may be emboldened and the whole country will turn into crisis if we don’t tackle what is going on in Rivers. So, we must all work concertedly to ensure that we stem the tide of political violence in Rivers, it is in our collective interest and I am sure that Nigerians are listening. What is your fallback option? I have no fallback option than to work with other stakeholders to ensure that the elections in Rivers State are free and fair. Till now, nobody has found a better form of government than democracy. Democracy is our only option and we need to make

THE risky situation of Dr. Dakuku Peterside, the All Progressives Congress, APC governorship candidate in Rivers State was brought to attention last Tuesday on national television when gunmen attacked his campaign rally in Okirika, Rivers State. As the crowd scampered for safety amid unrelenting gunshots, Dr. Peterside stood almost alone on the podium, his flesh and bones seemingly mocking the bestial instincts of the hoodlums. Dr. Peterside is determined to sustain the legacies of Governor Chibuike Amaechi, the man that has steered Rivers State in the last seven years through landmark infrastructural developments, but who has lately instigated a redirection of the political bearing of the state. Dr. Peterside, presently chairman of the House of Representatives Committee on Downstream Petroleum was in Lagos last weekend for an interactive session with the media. He spoke on the challenges of the campaign, the emerging culture of violence and his determination to sustain some of the policies and programmes of the present administration. He showed himself to be a man of character, content and capacity. Excerpts:

By Emmanuel Aziken, Political Editor

OU have claimed that Nyesom Wike is your friend. Are you thus surprised by the allegations of violence attributed to him and his party in your state? Yes, but there are many friends you have you cannot predict what they can do!

How are you sure you will get the security agencies to implement the plans you have outlined to protect the citizens of Rivers State? Everything you deal with in life depends on season and context. For those of us who are Christians, the book of Ecclesiastes says that there is time for everything. I know that if I get there, the contexts will be

different, the factors at play will be different and I am optimistic that I will get all the cooperation I need to implement my security programme. Rivers State will be peaceful again, safe and secure again. Are you optimistic that the votes will count? I am optimistic the votes will count. Rivers people are optimis-

I have no fallback option than to work with other stakeholders to ensure that the elections in Rivers State are free and fair

sacrifices to make it work and I know that Nigerians yearn for democracy. Will you follow the pattern of Ekiti in petitioning the National Human Rights Commission over the spate of violence? The situation in Ekiti is not as bad as it is in Rivers. Ours is worse than Ekiti and it is degenerating daily. We have done a few petitions to the National Human Rights Commission and we will continue to petition, hoping that somebody, sometime will give attention to our cry in Rivers.

Arresting the situation So, it is not about following the Ekiti example and we will continue to act within the ambits of the law; we will not go outside the law to arrest the situation. The alternative is to have a lawless state and that is anarchy; that is not the option in any civilised society. We are civilised men and women and will not resort to self help. You have repeatedly stated you would continue with the policies of the present administration. To what extent? Governor Amaechi has laid very good foundations for the state and we will continue with the things he has started, but that does not mean that we will adopt all his policies and programmes. No two governments can be the same just as no two individuals can be the same even if they are Siamese twins. We will progress based on contexts and challenges that we confront, but if we are going to continue with most of his programmes, the answer is yes. Would you continue with Amaechi’s policy of giving the model schools to Indians to manage? The teachers are being retrained as you are aware and the retraining is for a maximum of one year, some in Oxford University and other UK based universities and some in Nigerian universities under a phased programme and after some time you wont have Indians run the system again because we would have improved the capacity of our people so that we can get world class education. We shouldn’t compromise our standards because we are scared of what people will say, a leader shows the people the way and not the people showing the leader the way. How are you sure that you will win the election on April 11? I am not a man who will waste my time on things that are not viable. I can feel the pulse of Rivers people, I know what the issues are and I have been in-

Continues on page 51

Vanguard, MONDAY, FEBRUARY 23, 2015—51

RIVERS: Why Wike is a walkover — Peterside

THE VOTING PROCESS

Continues on page 50 volved in politics in Rivers State longer than anybody who is running now. I have been involved in the politics of Rivers State longer than anybody who is running election today including Nyesom Wike. If this election is conducted three times, I will win three times. I am happy you said that there may be a correlation between the outcome of the presidential election and the state election. As we speak, no one can say with certainty that either a President Buhari or a President Jonathan will win the election on the 28th of March. •Peterside I know that Rivers people are enlightened enough and the national scene is clear enough their own development and we on who would win no matter how will give them that opportunity by we pretend. All of us have an idea working with them. who will win the election and we What has happened to the wont be struggling with six week peace accord between the PDP shift if somebody was not leading and APC? and leading clearly. We believe in the peace accord, it is still subsisting and everyday National we educate our people on the scene importance of peace and the importance of political tolerance. We are battling with this shift We hope that other parties to the and shift because somebody is peace accord are also doing that. leading clearly. The gap is not If you noticed, there is a trend, 60:40, it is not 55:45, it is 70:30, all issues of political violence do your own investigations. If we have been directed against the continue like that you can then be APC. sure that it would be an easy walkover for me! Political How will you deal with the violence Ogoni question? Of everyone that is in this So, is it by coincidence? I am contest, I am more bonded to the sure that your guess is as good as Ogoni people than any other one. mine. All the attacks so far have I come from that senatorial been against APC. They have district, I lived in Ogoni land for been attacking APC structures ten years when my mother used and buildings, rallies. All those to be a lecturer in what is now killed so far, all of them are Rivers State Polytechnic and I members of APC. So, will APC pass through Ogoni land to get to kill their own people? Not likemy own place of birth. ly. The Ogoni issue is not just Is it that the police is doing about environmental degradation. absolutely nothing? It has many components The answer cannot be yes. After including social justice, exclu- the last Okrika debacle, I publicly sion from the political leadership commended the Commissioner and I have had series of of Police and said, yes, the police conversations with Ogoni leaders tried, but they were outnumbered and they know that we are the ones by these armed thugs and armed with the capacity to deal with the militants. But it is the fault of the environmental issues. My Nigerian state. All along we knew community is affected by the that there were too many arms in environmental issues in Ogoni circulation and that nobody is and this is because Opobo has doing anything about it. boundaries with Ogoni. So, when I must commend the current CP there is pollution in Ogoni, you because there is slight improvecannot isolate Opobo. It is not ment, we are not there yet. You possible. Will I also run away know when Mbu was from my own area? commissioner? You all know The Ogoni people like other what happened! parts of Rivers State are yearning for opportunity to pursue

•Card reader

How the card reader stops cheating at the Polling Station By Jude Opara

T a polling centre there shall be a presiding officer and between two and three assistant presiding officers appointed by the Independent National Electoral Commission (INEC) depending on the number of registered voters at the centre. The presiding officer shall delegate responsibilities to the assistant presiding officers and shall be the final authority at the voting unit. With the introduction of the Card Reader machine, once a voter approaches the polling centre, one of the officials will search the voters register to locate the person’s name and picture.

Card reader Once that is done, the other officer will collect the Permanent Voter Card (PVC) of the person and slide it on the Card Reader so as to read the bio-data of the bearer. The Card Reader has a number of roles; it certifies the authenticity or otherwise of a PVC. It also tallies the number of the PVCs it has recorded and forwards same

to a central server thereby eliminating the incident of ballot stuffing that was prevalent with the use of ordinary Voter Cards. If the PVC is genuine, the card reader will accept it and then the owner will place his thumb on the machine to also

The job of the card reader is in effect, to accredit voters, what it means is that during the actual voting, only those that were duly accredited will have the opportunity of voting

ascertain that it truly belongs to the person who brought it, thereby eliminating the incident of vote buying, multiple voting or voting by proxy. This step eliminates the use of PVCs stolen or purchased by some politicians as it renders them useless, the only advantage for those buying the cards being that it may suppress the votes of those who ordinarily the real owners of the PVCs would have voted for. When it is certified that the card is genuine and truly belongs to the person who brought it, it will pop up and announce to the hearing of party agents at the polling centre. The job of the card reader is in effect, to accredit voters, what it means is that during the actual voting, only those that were duly accredited will have the opportunity of voting. The issue of manipulating the process is drastically reduced because at a polling centre, there will be apart from the INEC staff, the agents of the contesting political parties, the observers both local and international as well as the media. Tomorrow: How you can cheat the card reader.

52 — Vanguard, MONDAY, FEBRUARY 23, 2015

OGUN: Yes, our people 're abandoning PDP for Kashamu— Salako A Chieftain of the People’s Democratic Party and a two-time member of the House of Representatives representing Remo North Federal Constituency, Honourable Dave Salako bares his mind on the steps the national leadership of the party should take to avert loss in the forthcoming governorship poll. He specifically urged the president to ensure he uses his office to intervene in the political imbroglio rocking the PDP. Excerpts. By Daud Olatunji

HAT exactly is wrong with the PDP in Ogun

State ? All is not well and this is because the party hierarchy after seeing all that is happening in Ogun State has refused to apply the right antidotes to solve these problems. It seems they are turning away their eyes from the reality. We have been inundated with calls everywhere after we found that wrong names were published as candidates. Our problem started from congresses as you are aware, to the primaries and to where we are now. You should know that there were no primaries in Ogun State. But how come the emergence of candidates? That is the big question. So all is not well in Ogun State and we can only tell our people to be calm until we have these problems resolved. The way it is, the solution is far fetched and I can only speak for myself that come rain, come shine, I will still be in PDP. Our followers are very angry and they want to move to another party.

Fairness and equity There is no amount of appeal one can make to them unless the party does the right thing and do justice, fairness and equity. Are you now indicting the national leadership of the party of not doing what you believe is right? I am blaming them for not doing what is right. They are the cause of our problem and I want to stand by it that unless the party address that area, there is going to be problem. You cannot stop people to move because there is freedom of association but some of us stakeholders will remain in the party until we get justice to our side. Is it that you have an axe to grind with somebody like Kashamu who is the major financier of the party in Ogun State? I don’t have any axe to grind with him. The only axe I have to grind with him is that he should be honest and he should be far away from anything that is politically fraudulent. He has done so many things that I have seen that are very wrong and he is getting away with it. I have pointed it out several

•Salako: Abuja must intervene

times. I have taken him to court but instead of him backing out, he is brining another dimension into politics of Nigeria - finding people to compromise in many things that they know are wrong. He would get a black document and he wants to call it white to everybody. Falsification and distortion of facts and documents and I verily believe that this man doesn’t want us to win in Ogun State. I have it in my mind that he is working for APC because if you look at all the candidates he fielded in his so called list, they are all weak ducklings that can never stand any election and win. With due respect to those candidates. Even I challenge him, can he win Ogun East Senatorial seat for us? He cannot. He is not even qualified. We will

So all is not well in Ogun State and we can only tell our people to be calm until we have these problems resolved. The way it is, the solution is far fetched

challenge him when the time comes. We cannot be under the same umbrella with him unless he goes back to mend his ways. Don’t you think the situation on ground portends grave danger for the party? Absolutely, it does. This is a replica of what actually happened in 2011. Let us look at what happened in 2011. Buruji and his cohorts at that time made sure that Daniel and others were sent out of the party. Daniel went to PPN and the result is here. We lost the election but if you put the result of PPN and PDP together, we would have defeated Amosun. I am sure if care is not taken, the same thing will repeat because people are hitching to move to another party and not to stay under the same umbrella with Buruji and if they do, we cannot not stop and we will lose that election again. We thought this is a great opportunity for us to claim back our lost glory in Ogun State. What was the outcome of several meetings held with the leaders of the party, including Mr. President to resolve the knotty issues? In fact if you recall, you will recollect that there was a committee set up under David Mark to look into Southwest and they summoned us to the villa and we were all told to go and work together. I was there, Daniel, Dimeji, Buruji, JMK, all the leaders were there but the moment we left there, Buruji came back and started doing

another thing. All the leaders are ready to work together and we are still working together but without Buruji and he is the only person scattering everything. Coming to your question, the last meeting that was summoned, the president was there, the vice president was there, Chief Anenih, Senate President and we were told to go and have a unity list and that nobody should go to court but the following day, this same man

went to court. What has the party done to him? I want to repeat, he has gone to court more than 40 times and he has about 30 injunctions. Our former national Chairman , Bamanga Tukur only went to court once and he was disciplined. So what makes Buruji above all discipline? So there are questions that are begging for answer. Are you now saying that Buruji is greater than the party? He looks so but I am happy Anenih told him that he is not bigger than the party but what have they done since then.

Vanguard, MONDAY, FEBRUARY 23, 2015—53

•Women at a family planning clinic in Lagos. Inset: Dr. Funmilola Olaolorun.

In Lagos, women shun family planning services •Expert debunks fears that contraceptives cause cancer, infertility, heavy bleeding, etc. By Chioma Obinna

NEW survey carried out in Lagos has shown that over 67 percent of women in the state are not accessing family planning services due to health - related concerns. In the survey tagged PMA2014/ Lagos conducted by the Performance, Monitoring and Accountability 2020, PMA2020, with grant from Bill & Melinda Gates Foundation, it was discovered that despite the availability of free family planning services in public and private health facilities, many women boycott the services for a number of reasons. Some women in the study claimed that family planning interferes with the natural process while others said their spouses are totally opposed to use of family planning. The Survey which applied a two - staged cluster design with urban - rural as strata, also revealed that out of stock was still a problem in family planning services in Lagos. The PMA2020 is a tool to monitor progress every six months over the next two years unlike the NDHS which is carried out once in five years. Speaking to Features Health & Living shortly after the dissemination meeting of the survey in Lagos, Co-Principle Investigator, PMA2020, Dr. Funmilola Olaolorun, listed some method- related problems that hindered access to include excessive bleeding, mixed and C M Y K

misconceptions regarding using long active method. Olaolorun who is also a lecturer at the Department of Preventive Medicine & Primary Care, University of Ibadan, further stated that some other women claimed family planning could cause infertility even though it is not a permanent contraceptive method while some say the Inter Uterine Device, IUD, can migrate. "Some people also believed that these devices can cause cancer. It is actually a mix of what they think. Some of them, it is just their perception. It is not that they have actually experienced any of them."

Infertility or cancer Debunking these fears, Olaolorun explained the family planning does not cause infertility or cancer. "We found that about 19.3 percent are using modern contraception in Lagos State which is higher than the national average. We also found that women are now initiating sex at about 20.0 - 24.5 years and that is about the age of first birth as well. Also they are not using contraception until about 26.5 years which is roughly six years after they have initiated sex and roughly two years after they have got married and roughly after two children. “This gives multiple intervention points for family planning providers and family

planning advocates to find the right message at the right time where she is in her life stage so that she can receive the information that she needs to encourage her to use a modern contraceptive method. "We also did a survey on among service delivery points. We found out that even though these methods are widely available in most places, there is still stock out in a few places in both the public and the private sector. We also found that integration of services is doing well. Over 95 percent of those that offer maternal and child health services, HIV /AIDS related services, post abortion services integrate family planning services into it. And this is a very

Some women claimed family planning could cause infertility, some said the IUD can migrate, others believed these devices can cause cancer

good point because it is minimising missed opportunities for women," she stated. Excessive bleeding and contraceptives: Clearing the air on link between excessive bleeding and contraceptives, Olaolorun said: "When there is excessive bleeding the woman definitely needs to go to the hospital for assessment because it is not impossible that she may have some other underlying conditions. Bleeding could just happen and may not actually be related to the family planning method. “So she needs to be examined in a hospital by a physician. I do know that so many women are unique even though there is excessive bleeding for some women, they are in the minority. Some actually have their menses stopped after they start using a contraceptive. Some women who are on injectables don't even see their menses for years and once they stop the injectables, their menses comes back. “There are side effects for every drug not just the family methods. But the few people who experience it make a lot of noise about it. We need to take all these information in context because only a few people experience excessive bleeding. Ffor instance with the IUD , but it is not enough to lead to death," she explained. Reeling out benefits of planning, Benefits: Olaolorun said apart from enabling couples to space their children, modern

contraception has multiple benefits for both the mother and the child. "Mothers who use family planning are able to space their children so that there is enough time to ensure exclusive breast feeding for six months and continue breast feeding for up to two years before she becomes pregnant with another child. “When a woman is using modern contraception, she is able to go back to the labour force and that means increased income for the family because if she is having a child every one and half years, she probably will not be able to maintain a job. Olaolorun pointed out that if women are having only the children they want, they are not likely to have more children than they can carer for, and there will be fewer street children and homeless children. Apart from spacing, she explained that when a couple is ready to stop bearing children, they can utilise the more permanent methods so that a woman is not getting pregnant in her late 40s and early 50s. “So it helps families as well to be able to understand their finances and many children they can afford to look after and send to school and ensure that they are well kept." Link between family planning and maternal/ child mortality: Family planning helps a woman to recover from one pregnancy before going to the next one.

Infant mortality "A child that is breastfed exclusively is less likely to have problems of diarrhoeal diseases and more likely to be healthy. There would be less likelihood of upper and lower respiratory tract infections, pneumonia and other infections that can lead to untimely death. “So when a child is exclusively breastfed if the mother is using that method it helps to reduce infant mortality because breast fed children are healthy children and the mother also has benefits when she is breastfeeding, to reduce the weight she has gained in pregnancy. She is able to burn calories. “Breastfeeding helps the mother bond with the child and the child is less likely to end up with behavioural problems. Also the mother is more able to focus at work when she resumes because she can express the breastmilk and can actually take the child along if she is breastfeeding exclusively. “She can spend more time to look after the child thus reducing infant mortality because she is not getting pregnant so quickly and not having to stop breastfeeding because of pregnancy," she further stated.

54—Vanguard, MONDAY, FEBRUARY 23, 2015

FSDH advocates growth of REITs

SDH Asset Management Limited has emphasized the need for an effective and efficient tax regime for Real Estate Investment Trust, REIT, schemes and a deeper understanding of the workings of the sector. The company had, at a seminar in Lagos, focused on the growth and development of REITs in Nigeria. Managing directors and chief investment officers of pension fund administrators, insurance and asset management companies, and representatives of regulatory authorities such as the Securities and Exchange Commission, SEC, Federal Inland Revenue Service and Chartered Institute of Taxation, participated at the seminar. Mr. Andrew Brooking, the Founding Director and Corporate Finance Executive, Java Capital, South Africa, who spoke on Nature and Impact of REITs— Lessons for Nigeria from other Jurisdictions, noted that REITs had come to be regarded as a key component of a balanced investment portfolio and seen as an investment category separate from direct property ownership. A talk on tax, which has always been a challenge to stakeholders in the REIT industry, was delivered by Mr. Taiwo Oyedele, Partner/Head of Tax and Corporate Advisory, PwC, while Mr. Hakeem Ogunniran, Managing Director, UACN Property Development Company Plc, spoke on Asset Selection and Management of REITs in Nigeria. The regulatory environment for REITs in Nigeria was also discussed and SEC was commended for the recent amendment to rules on REIT and adoption of Declaration of Trust, DOT, structure to reduce transfer cost of properties to a REIT. Mrs. Yinka Edu, Partner, Udo Udoma & Belo-Osagie, in her presentation, highlighted the risks associated with the DOT structure and how these risks can be mitigated. C M Y K

SEMINAR: From left— Mr. Taiwo Oyedele, Partner/Head, Tax & Corporate Advisory, PricewaterhouseCoopers; Mrs. Hamda Ambah, Director, FSDH Asset Management Limited; Dr. Abiola Sanni, Associate Professor of Tax Law, University of Lagos; and Mr. Wole Oshin, Managing Director, Custodian & Allied Insurance Company, at the REIT seminar organized by FSDH Asset Management Limited in Lagos.

Thugs attack Shettima’s convoy, destroy 15 vehicles By Ndahi Marama

AIDUGURI—THUGS, yesterday, attacked the convoy of Governor Kashim Shettima along Kashim Ibrahim Way in Maiduguri, Borno State capital. It was gathered that Governor Shettima had earlier planned to go round the state capital in the morning to inspect some projects and visit hospitals, but that when his security details informed him that the town was not safe for him, he had to delay the tour until 3pm. Sources said the youths, armed with cutlasses, knives and sticks, positioned themselves at strategic points waiting for the governor, who they alleged has failed the people of the state. At about 4pm, the thugs

attacked his convoy leading to the destruction of about 15 vehicles in the convoy, while several people sustained injuries. State Chairman of All Progressives Congress, APC, Ali Bukar Dalori, in his reaction, pointed accusing fingers at some political thugs associated with former Governor of Borno State, Ali Modu Sheriff. Dalori said the attack took place while Governor Shettima was driving along Sir Kashim Ibrahim Way after going round different hospitals in the state capital, offering support to patients. Dalori said the thugs came out from a campaign office belonging to Sheriff, called UTC and soon after the governor’s official vehicle had passed, the thugs went after

vehicles in the convoy, smashing windscreens. It was gathered that immediately he was informed of the attack, Governor Shettima restrained his security details from attacking the youths so as not to compromise ongoing counter insurgency operations. Spokesman of ex-governor Ali Modu Sheriff, Mr. Inuwa Bwala, however, said although neither himself nor his boss was in Maiduguri to know what transpired, he believes that those who attacked Governor Shettima were the hired APC thugs that were denied payment after they carried out the contract of destroying Peoples Democratic Party, PDP, offices in the state during General Mohammed Buhari’s disrupted visit last Monday.

Anglican Primate lauded on Edo Theology College

HE Ojomo of Esanland, Chief Ezekiel Ainabe, has commended the Primate of All Nigeria, Anglican Communion, Most Rev. Nicholas Okoh, for his support and interest in the development of the Ezekiel College of Theology. Sir Ainabe, who built and donated the college at Ujoelen in Ekpoma, Edo State, made the commendation at the dedication of the college’s ultra modern chapel and dean’s quarters. He said the Primate’s interest in the college was so strong right from when he was the Bishop of Asaba and the Archbishop of Bendel Province.

He said the archbishop’s “annual subvention, gift from St. Matthias Day collection and of recent a bus donation are all testimonies of his love and interest for the college. “That the Primate is able to personally make it to this place today is another demonstration of his love for the college. One would have thought that by now he would be tired after seven days of marathon meeting of the standing committee of the Church of Nigeria in Ughelli.” Chief Ainable also lauded former Head of State, Chief Ernest Shonekan for his gesture to build the chapel in the college, adding that it all started when the then Dean,

now Bishop Aladekugbe, wrote a letter of appeal to him, which was later followed by a joint visit to Shonekan in Lagos. Ainabe said: “Together with Dr. Williams Aladekugbe, I have laboured to expand the college, first with the students hostel building donated by my family friend, Olorogun Oskar Ibru and now these two buildings also by my daddy and friend, Chief Shonekan. “My interest in the college is second to none. I have passion for the college and I am always ready to spend generously to move the college to greater heights.”

Maiden Arewa Day holds in Lagos By Tony Nwankwo

HE Arewa community in Lagos State converged at the National Stadium, Surulere, on Saturday, February 7, to celebrate the maiden Arewa Day. According to the Sultan Arab Shuwa of Lagos State, Sultan Jubirin Yahaya, “the Arewa Day is a day set aside by the Arewa community in Lagos to come together and celebrate their culture, share food and remind ourselves of the need to respect constituted authority and be law-abiding.” At the occasion, Alhaji Ibrahim Muhammed Badisha of the Nigeria Customs Service was turbaned as Talba of Lagos State. On the election postponement by INEC, Sultan Yahaya urged the Arewa community and Nigerians to accept the change as an act of God and be patient. According to him, March 28 is just around the corner. He called on Nigerians to be peaceful and obey the leaders, imploring all, irrespective of their religious beliefs, to pray for peace, unity and development in the country. He urged them to collect their Permanent Voter’s Cards, PVCs, to enable them perform their civic responsibility.

Vanguard, TUESDAY, FEBRUARY 23, 2015 —55

Enugu, Ebonyi, Anambra fail to implement N18,000 minimum wage

4 YEARS AFTER:

zFive other states on partial implementation By Victor Ahiuma-Young, Wole Mosadomi, Peter Okutu, Francis Igata & Marie-Theresa Nanlong

AGOS—FOUR years after the National Minimum Wage, NMW, of N18.000 was signed into law, Enugu, Ebonyi, and Anambra states and five other states have either refused to implement it or implemented it partially. The other states are Ekiti, Niger, Oyo, Plateau, Sokoto and Taraba. While Anambra, Enugu and Ebonyi states have refused to implement at all, Niger, Plateau, Oyo, Ekiti, Taraba and Sokoto states have partially implemented the wage. In Anambra, it was gathered that besides N10,000 the governor added to all the workers’ salary during a threeweek strike to force implementation, the present government recently added 15 per cent pay rise. This also fell short of the N18.000 NMW. For Ebonyi, while the minimum wage was not being implemented at all, it was gathered that what was on ground was a home -made table imposed on the workers by the government. Similarly, in Enugu State, nothing has been done to implement the wage, rather the state government dragged the organized labour to court over the issue. In the case of Ekiti State, while the core civil servants are being paid the wage, workers in the local government are yet to be paid. Niger State government fully implemented the minimum wage for workers in level 1-6, those in level 7 and above, got something said to be substantial above their existing salary. Similarly, in Oyo State, without the involvement of state chapter of Nigeria Labour

Congress, NLC, the government approved the payment of the wage to level 1-6 without the consent of the Public Service Joint Negotiating Council, PSJNC, the government was dealing with. When PSJNC resumed negotiation for workers

in level 7-17, the government came up with N19,113.99, with a slight difference of between N1000 and N2000 increase without the consent of the negotiating team. It led to three weeks strike until the intervention of well meaning

VALENTINE: From left: Mr. Femi Oshoniyi, Mr. Taiye Johnson, Senator Gbenga Ashafa, and Mr. Dimeji Sofowora, at the Valentine celebration with the APC Presidential/VicePresidential candidates, General Muhammadu Buhari and Prof. Yemi Osinbajo in Lagos.

NIMASA threatens legal action against APC ALLEGED SMEAR CAMPAIGN: By Godwin Oritse, Gbenga Oke & Godfrey Bevbere

AGOS—THE management of the Nigerian Maritime Administration and Safety Agency, NIMASA, has given the All Progressive Congress, APC, a 72 hours ultimatum to retract its statement accusing the agency of campaign of calumny against APC Presidential candidate General Muhammadu Buhari or face legal action. Speaking to journalists in Lagos yesterday, NIMASA’s Director General, Mr. Patrick Akpobolokemi accused the party of being mischievous and trivializing issues of national interests. His words" “The attempts by

APC to discredit the giant strides of President Goodluck Jonathan in NIMASA through mischievous representations and blatant lies by the APC will be fought against. “It must be echoed for record purposes that NIMASA is not a political party. “We are a responsible government agency trying our best to fulfil the mandate setting us up as an organisation. “We will not therefore be dragged into malicious politicking by our accusers neither would we be intimidated into not parading our achievements nor shy away from our core responsibilities. “The APC has mounted relentless attack and vicious

Navy chief warns personnel against brutalisation of civilians

By Evelyn Usman

AGOS—THE Chief of Naval Staff, CNS, Vice Admiral Usman Jubrin, weekend, cautioned officers and ratings of the Nigerian Navy against brutalization of civilians, threatening that any personnel whose act leads to the death of a civilian would be immediately court marshaled and handed over to the Police for prosecution. The warning, may not be unconnected with recent report of alleged death of a civilian by a naval personnel in Lagos, during a misunderstanding C M Y K

citizens of the state. It was, however, gathered that up till now, this figure has not been implemented. In Plateau State, implementation commenced in October 2011 for core public workers, but till date, local government employees are receiving half of what the core civil servants receive.

which led into a fight. Addressing officers and Ratings of the Navy at the NNS Quorrah , Vice Admiral Jubrin described as embarrassing the relationship between naval personnel and civilians, urging his men to shift their focus on their common enemy-terrorists. He said: “Civilians are supposed to be our common friends and not our common enemy. Our common enemies are members of Boko Haram, we should not declare civilians as our common enemy. Rather, you should see them as people you should work with by

getting information that you will use to fight Boko Haram. But sometimes our behavior to our civilian colleagues has remained total embarrassment . You should realise that the service is serviced by task payers money. Therefore you can not afford conflict to exist between you. “As a result of fighting with civilians there has been some litigation against naval personnel to the extent of even stabbing them (civilians)in the process. Do not unjustifiably take another person’s life ."

propaganda all in the name of politics against several government agencies, including NNPC, Nigerian Army, Police, Department of State Services and the latest victim is now NIMASA. “Prominent among the falsehood perpetrated by the APC against NIMASA is the allegation that NIMASA contracted the country ’s maritime security to a private firm owned by Tompolo. “I state here, unequivocally that these allegations are false as NIMASA neither entered into any such security contract with any private company nor with Tompolo.”

Nonperforming loans in banks loom —LCCI

By Franklin Alli & Naomi Uzor

AGOS—THE Lagos Chamber of Commerce and Industry, LCCI, warned yesterday that a new wave of Non-Performing Loans in the banking system is imminent following the recent closure of sales of foreign exchange through the Retail Dutch Auction System, RDAS, by the Central Bank of Nigeria, CBN. LCCI, in a statement on the closure of the RDAS/ WDAS foreign exchange (forex) window by the apex bank, also proposed a minimum refinancing facility of N200 billion to be provided at single digit interest rate and a 15-year tenure to cushion the effect of the new policy on investors with high foreign exchange exposure. Remi Bello, LCCI President said: “This policy measure has its merits and its downsides; exchange rate induced loses could trigger a new wave of nonperforming loans in the banking system and this have implications for financial system stability.” “Following the revision of the guidelines and the exclusion of some transactions, this forex window was targeted at providing support for the real sector of the economy because of their strategic importance to the development process, job creation and inclusive growth. They are therefore the first natural victims of the closure, particularly the few that had access to this window."

Governorship, NASS candidates tasked on UPU crisis

ARRI—CHIEF Great Ogboru, Labour Party gubernatorial candidate, and Ovie Omo-Agege, the senatorial candidate of the party in Delta Central have been called upon by a social critic, Comrade Ede Onose, to endeavor to be more of a positive influence in the Urhobo Progress Union, UPU. According to Onose, it is not possible for them to extricate themselves from the current mess in UPU as Joe Omene’s faction which is allegedly working for President Jonathan and the PDP has endorsed them. Speaking yesterday in Udu, near Warri, Onose said: “This clearly gives the impression that

Ogboru and Omo-Agege are working for PDP leading many people to suspect Ogboru has secretly stepped down for Okowa and is still in the race simply to split the votes of Olorogun O’tega Emerhor.” Onose who maintained that his respect for Ogboru had been intact until the present crisis, expressed disappointment that a man of Ogboru’s status would allow himself to be associated with a clandestine scheme by the PDP to split Urhobo votes to the advantage of Okowa. He said: “Tuesday Onoge is our new leader and many of us never even subscribed to the leadership of Joe Omene in the first place.”

56 — Vanguard, MONDAY, FEBRUARY 23, 2015

C M Y K

Vanguard, MONDAY, FEBRUARY 23, 2015 — 57

C M Y K

58—Vanguard, MONDAY, FEBRUARY 23, 2015

Vanguard

OBJ's exit and PDP's future

CLASSIFIED IGWE-OMOKE—I, formerly known and addressed as Miss Igwe-Omoke Adanna Chinwe, now wish to be known and addressed as Mrs. Okorie Adanna Chinwe. All former documents remain valid. General public please take note.

O LU S A N YA — I , formerly known and addressed as Miss Olusanya Omoyemi Dorcas, now wish to be known and addressed as Mrs. Usen Omoyemi Dorcas. All former documents remain valid. General public please take note.

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OTOIDE—I, formerly known and addressed as Miss Otoide E v e l y n Ehibhamiegho, now wish to be known and addressed as Mrs. Evelyn Ehibhamiegho Ikechukwu. All former documents remain valid. General public please take note.

LATEEF—I, formerly known and addressed as Miss Lateef Rashidat Abeke, now wish to be known and addressed as Mrs. Ayoola Abeke Rashidat. All former documents remain valid. General public please take note.

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ONWUJI—We, formerly known and addressed as Onwuji Pantus Nkemjika, Onwuji Pamela Nneoma, Onwuji Jessica Amarachi and Onwuji Precious Nnabugwu, now wish to be known and addressed as Harris Santos Nkemjika, Harris Pamela Nneoma, Harris Jessica Amarachi and Harris Precious Nnabugwu. All former documents remain valid. General public please take note.

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ANUNWA—I, formerly known and addressed as Miss Anunwa Maureen Ogechukwu, now wish to be known and addressed as Mrs. Chetauya Maureen Ogechukwu. All former documents remain valid. General public please take note.

Confirmation of Name This is to confirm that the name Isiduko Chigozie and Isidiuko Chigozie is one and same person. All former documents remain valid. GTBank and general public please take note.

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EDEGBE—I, formerly known and addressed as Miss Osayamen Faith Edegbe, now wish to be known and addressed as Mrs. Osayamen Faith Idowu. All former documents remain valid. General public please take note.

Confirmation of Name I, Julieth Uchey Obijekwu, hereby confirm that the name Julieth Uchey Okafor as it appears on my BSC certificate and GCE result refers to one and the same me as on my NYSC certificate. All former documents remain valid. General public please take note.

DAGBO—I, formerly known and addressed as Miss Felicia Oluwatoyin Dagbo, now wish to be known and addressed as Mrs. Felicia Oluwatoyin Osakuade. All former documents remain valid. Institute of M a n a g e m e n t Technology, Enugu, NYSC and general public please take note.

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AWELE—I, formerly known and addressed as Miss Mandy Blessing Awele Juwah, now wish to be known and addressed as Mrs. Mandy Juwah Adebayo. All former documents remain valid. General public please take note.

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Continues from page 49 a power behind the throne. This domineering posture was, however, initially backed up by the response of the military power elite in 1999 to the unexpected sudden demise of General Sani Abacha who was then holding the baton as the successor in a decade and a half of continuous military rule in Nigeria. Against a background of mounting local and international rejection of military dictatorship and facing the Abiola/June 12 debacle, the death of Abacha proved to be a dead end for continuation of direct military rule and a compelling factor for the then top military brass to strategise a tactical transition to civil rule, that would also provide a softlanding and protection against the high risk of vengeance backlash from the emerging civilian political class, several of whom had suffered indignities under military rule.

Influence and control To all intents and purposes, the PDP and by extension, governance of Nigeria was totally under the influence and control of General Obasanjo from his swearing in as President in 1999 to the better half of 2014. The General left no one in doubt about his empire building schemes and plots. Coming from that perspective, even laymen should be able to read between the lines on the issue of Obasanjo’s exit from PDP to realize that it was in fact a major victory for President Goodluck Jonathan’s Presidency that is also in the interest of the PDP and the genuineness of its democratic credentials. Whatever ruinous record is being attributed to the PDP today is directly attributable to the field day of Obasanjo as President and later his heydays as Papa President and life-leader of the party, a period spanning eight

years as President and about eight years of lifepresidency! Expectedly, nothing said or done during this period could have ever remotely recommended to OBJ dumping PDP, even though it was the silent prayer of many insiders who saw him as the proverbial bull in a china shop. At this juncture even the uninitiated must have caught the drift of this brief diagnosis of the politics of Obasanjo’s self-eviction from PDP. In a nutshell, OBJ has now found himself out of control of the affairs of the PDP beyond his ward level where, by his own admission, his relevance relegated him to. Like Humpty Dumpty, Obasanjo has suffered a heavy fall from the heights of presidential power and influence to the valleys of vain glory where all that was left was to grumble and grapple but never in firm grip of the reigns of power. His decline coincided contrastingly with the divinely- ordained emergence of President Goodluck Jonathan from the clutches of stooge status to his rightful rank as executive President of the Federal Republic of Nigeria. Emboldened by divine empowerment that did not need the cantankerous arrogance of drunkards of power, President Goodluck Jonathan has humbly achieved a vivid record of performance in the positive transformation of the stagnated potentials of Nigeria into icons of optimistic visions of a better tomorrow. To this unprecedented achievement, we must now also add the subtle but successful liberation of the PDP from the curse of military manipulation and remote control against the national interest. Yes, it is also very instructive that the good riddance to bad rubbish of the PDP always finds suitable dumping ground in the APC ! •Osaghale writes from Benin

VANGUARD, MONDAY, FEBRUARY 23 , 2015 — 59

Shopping mall threat real —US security chief

New ISIS video shows Kurdish soldiers in cages I

SIS has released a new propaganda video showing what appears to be Kurdish Peshmerga fighters paraded down Iraqi streets in cages. The video features a man saying the Peshmerga soldiers were captured by ISIS. CNN cannot independently verify the authenticity of the video. But it shows at least 21 men in orange outfits hauled in the cages atop the beds of pickup trucks. A man with a microphone bearing the ISIS logo interviews some of the captives, who say they are Peshmerga soldiers. Most of those •The captives in orange jumpsuits with their heads lowered interviewed say they are from Kirkuk. The prisoners, under duress, recent beheadings of like these, either the call on their fellow Christian Egyptians in cage, or under the UNDREDS of Peshmerga soldiers to Libya. ground,” he says in Turkish forces in It’s not clear what Kurdish. give up their fight armoured vehicles have happened to those in the against ISIS. The Peshmerga are war-torn The video also features video. The last scene armed forces protecting entered northern Syria to superimposed bios for shows them alive. Kurdistan, a But a man in the video semiautonomous region evacuate troops guarding each prisoner. One historic tomb, captive is described as an gives an ominous in northern Iraq. The a officer for the Iraqi army. warning. fighters opposed Saddam demolishing it and “We say to the Hussein’s regime and moving the remains to a The heavily edited footage also includes Peshmerga: Leave your supported the United different site. The remains of flashing clips of the jobs, or your fate will be States in Operation Iraqi Freedom.

HE head of US homeland security has warned Americans to be vigilant after a terror threat to one of the country ’s largest shopping centres. Jeh Johnson said he took the threat by the Somalia-based, al Qaedaaffiliated group al-Shabab seriously. In a video, the group urged followers to carry out attacks on shopping centres in the US, Canada and the UK. Al-Shabab was responsible for the 2013 attack on Westgate shopping mall in Nairobi

that killed 67 people. Mr Johnson told CNN that the threat was part of “a new phase” of terrorism in which attacks would increasingly come from “independent actors in their homelands”. “Anytime a terrorist organisation calls for an attack on a specific place, we’ve got to take that seriously,” he said. In the video, a man with a British-sounding accent and full face covering calls on supporters of alShabab to attack “American or Jewishowned” Western shopping centres.

•A US shopping mall

Turkey enters Syria for Suleyman Shah's tomb

Suleyman Shah, who died in the 13th Century, were moved to a site in Syria closer to the border. Turkey considered the shrine sovereign territory. Islamic State (IS) militants in the area had threatened to attack it last year. The government of Syrian President Bashar

al-Assad, which has lost control over much of northern Syria as a result of the country’s civil war, condemned the incursion as “flagrant aggression”. It said that Turkey had informed its Istanbul consulate about the operation but had not waited for Syria’s consent.

Gunmen abduct 89 boys in S/Sudan

Libya: ISIL-linked group claims responsibility for embassy attack

IGHTERS loyal to the Islamic State of Iraq and the Levant (ISIL) have claimed responsibility for an attack on the Iranian embassy in the Libyan capital Tripoli. Two bombs exploded at the gate of the Iranian diplomatic complex on Sunday, although nobody was hurt in the blast, Libyan security officials said. “Two devices were laid, one exploded first and then the other. The point of the second bomb was to create confusion,” Colonel Jumaa alMashri from the National Security Agency told Tripolibased al-Nabaa television. The Associated Press news agency reported that the Iranian ambassador was not in the residence during the attack. Iran’s official IRNA C M Y K

news agency also confirmed the blasts, adding that Iran had previously suspended operations at its embassy. The building had been

vacant since 2012. The building complex lies in a central district of Tripoli, where several diplomatic missions are located.

Egypt refers 215 to court for forming a militant group

GYPT’S public prosecutor said on Sunday he had referred 215 members of the outlawed Muslim Brotherhood to trial on charges of forming a militant group, the latest move in a sustained crackdown by authorities on Islamists. Egypt has mounted one of the biggest crackdowns in its modern history on the Brotherhood following the army’s overthrow of Islamist President Mohamed Mursi, the country ’s first freelyelected president, in

2013 after mass protests against his rule. The 215 defendants were charged with forming a militant group called “Helwan Brigades”, Hesham Barakat, the public prosecutor, said in a statement. Helwan is a district in southern Cairo. The prosecution’s investigation said that the group was responsible for killing at least six policemen and wounding several civilians and policemen in separate attacks in Cairo.

UNMEN in warravaged South Sudan have abducted at least 89 boys, some as young as 13, from their school in oil-rich Upper Nile State, the United Nations said on Saturday. The boys were taken while doing their exams and the total number of kidnapped children could be “much higher”, the U.N. Children’s Fund (UNICEF) said. No group has claimed responsibility for the abductions and the gunmen’s intentions were not clear, though in the past armed groups have forcibly recruited children

before major offensives. Conflict has been rife in South Sudan since December 2013 when fighting erupted in capital Juba between soldiers allied to President Salva Kiir and those loyal to his former deputy, Riek Machar. At least 10,000 people have been killed and 1.5 million internally displaced. UNICEF said about 12,000 children have been recruited into armed groups since the outbreak of war. The latest incident took place near Malakal, the capital of Upper Nile

•Islamist militants in eastern Libya

State, in a small village that has seen its population swell to about 90,000 due to a flood of internally displaced people. “According to witnesses, armed soldiers surrounded the community and searched house by house. Boys older than 12 years of age were taken away by force,” UNICEF said in a statement. The community where the raid took place is mostly made up from members of the Shilluk tribe, South Sudan’s third largest ethnic group after Kiir’s Dinkas and Machar ’s Nuers.

60 — Vanguard, MONDAY, FEBRUARY 23, 2015

Keshi: NFF waits on B/Faso before naming Eagles’ coach W

ITH Stephen Keshi in the frame to becoming the next coach of the Stallions of Burkina Faso, it has been gathered that the Nigeria Football Federation will announce a successor to the former Super Eagles captain almost immediately if he is named as coach of the Francophone country. There has been a ‘deliberate delay tactics’ by the NFF in handing the 52year old a new contract, which has seen the Super Eagles without a substantive coach since Keshi’s contract expired last summer after Nigeria’s exit at the FIFA World Cup in Brazil. Reliable sources at the Glass House have informed that the NFF have a draft of a contract proposal to Keshi, but they’re sure it will be rejected by the ‘Big Boss’, as it includes stringent clauses and a pay cut. The source said, “there is a proposal they have at the moment, but I’m sure the Big Boss will not accept it because there are very stringent clauses on how he’ll work and a pay cut as well.” Now that Burkina Faso are having the former Mali coach as one of the candidates as a possible replacement for sacked Paul Put, the NFF is all ears waiting for the outcome. A coach will be appointed almost immediately after, if Keshi is named the Burkina Faso coach. “They (NFF) will almost certainly appoint a new coach immediately Keshi is announced as coach of Burkina Faso. There is a deliberate delay tactics on their part not to offer him a deal, and since there are no competitive games until June, they are happy to wait,” a source informed. Keshi was fired last October after Nigeria defeated Sudan 3-1 in a 2015 Africa Cup of Nations qualifier, but was believed to have been reinstated by the presidency, and as a result, the NFF have found it difficult to get rid of him, even though he doesn’t have a valid contract with the Glass House. Keshi is in contention with French-German, Gernot Rohr and Serbian, Milovan Rajevac to become the next Burkina Faso coach. C M Y K

We’ve accomplished our mission to Niger — Amuneke

•Keshi

CAF U-17: Eaglets to confront S. Africa, Mali seal South Africa •As Africa’s World Cup slots B

OUBACAR Traore grabbed his third goal of the CAF U17 championships with a calm finish on 34 minutes to lead Mali to a 1-0 win over defending champions Cote d’Ivoire, a victory which sealed their top spot in Group B and a semi-final date against Group ‘A’ runners-up Guinea. The result ended the 2013 winners’ interest in the Niger tournament. Across the city at the Stade Seyni Kountche, South Africa’s Amajimbos beat Cameroon 3-1 to move to five points and finish second behind Mali’s young eagles. Amajimbos’ win set them for a semi-final clash against Nigeria’s Golden Eaglets and also sealed their FIFA Under-17 World Cup Chile 2015 place. Africa’s line-up for Chile will therefore be

Nigeria, Mali, South Africa and Guinea. At the Stade Municipal, Mali was dominant with several missed chances which could have seen them win by more than one goal. Aly Malle, Mohammed Haidara, Sekou Koita and Sidiki Maiga all missed glorious chances to add to Traore’s goal. The baby elephants, who played a man down in the second half following the sending off of Romaric Kone, could also not convert their best chances which fell for Idrissa Doumbia and Baba Lamine Trarore. In the other Group B encounter, Fokem Achielle’s own goal on three minutes and a brace by skipper Nelson Maluleke, first from the spot and a beautiful finish after excellent play by

Amajimbos handed South Africa a big win against Cameroon. Christian Bayemi got Cameroon’s consolation as they exited the tournament without a point.

OLDEN Eaglets qualification for the Fifa Under-17 World Cup in Chile has been attributed to determination, team work and self belief. Coach Emmanuel Amuneke, who oversaw a 3-1 win over Zambia on Saturday at the Stade Municipal to ease Nigeria into the semifinals and guarantee a place at the World Cup, said that his team had to dig deep to get the result. “The win was not easy at all. We had to work had for it and I’m glad we eventually did. “It was a team effort, a collective effort, we were determined to make sure we achieve our objectives and we finally did. “The main objective of coming here (Niger) was to qualify for the Fifa Under-17 World Cup in Chile 2015 which we

•Amuneke did. “I’d say congratulations to the boys and Nigeria as a whole. It’s a victory for everyone in the country,” he said. Amunike also reiterated that his team is still evolving and more work has to be done to get the team in a much better shape when the knock out stages commences.

My team’s work in progress – Siasia

•Siasia

EAD Coach of the U-23 National Team, Samson Siasia has said though his team won 4-1 against Gabon on Saturday, the squad is still work in progress as he is still trying to get the right players for the each position. Commending the boys for putting up a brave show in their first competitive game, the former Super Eagles gaffer added that many of the boys were playing big time football for the

first time, and that hopefully as they play together they will bond well. “Having in mind that this team has been together for barely three months, Nigerians should appreciate what these boys did today. I am really impressed with all of them, they played as a team, meaning that all the hard work we put them through in the past three months has not been in vain.”

Chelsea: Atkinson murdered sleep — Shearer J

Costa looks bemused after Atkinson refused to award him a penalty after a tussle with Shackell

OSE Mourinho and Chelsea can feel hard done by after contentious decisions contributed to Burnley grabbing a point at Stamford Bridge, according to Alan Shearer. The Blues boss spoke made reference to four key incidents which he believed changed the course of the 1-1 draw in his post-match interviews - citing a foul on Branislav

Ivanovic, two penalty appeals and the sending off Nemanja Matic. Match of the Day pundit Shearer, who was backedup by Robbie Savage, agreed with Mourinho and claimed that referee Martin Atkinson was at fault on each occasion. Speaking about an Ashley Barnes challenge on Ivanovic which went unpunished in the 30th minute, Shearer said: ‘I think Martin Atkinson has

had a terrible game today. ‘Ashley Barnes goes up for the header with Ivanovic, he leads with his foot and he’s very fortunate. You can see he kicks out, studs into the back of his hamstring and that should be a yellow card.’ Former Leicester midfielder Savage added: ‘Definite yellow card there. Ivanovic’s reaction is quite poor, he rolls over and gets up but I agree – a yellow card for Ashley Barnes.’

Vanguard, MONDAY, FEBRUARY 23, 2015—61

FTER missing out last week due to what I will simply refer to as “nations cup fatigue” I had decided to write this week on The miracle called Equatorial Guinea 2015. Whatever gives me the feeling that this is stale news, is not doing justice to a tiny West African country of less than 800, 000 people, who at short notice, less than two months , has pulled off what will go down in the annals of football hosting as a miracle. Football hosting? The Nations Cup is regarded today as the third biggest football fiesta in the universe “inferior”only to the World Cup and the European Championships. To host the Nations cup, it is not enough to have adequate infrastructure, sufficient funds and experienced manpower. With all these you still need at least four years to plan and to deliver. Equatorial Guinea lacked the infrastructure. At the time it co hosted with Gabon in 2012 it had only two stadiums one of which could only accommodate 15,000 people(Malabo) Oil rich country yes , but what degree of riches, given its geographical size and limited exploitation? In 2012, it can be said that due to the co hosting experience, Equatorial Guinea could only boast half of manpower capacity in hosting a tournament of this magnitude. If therefore a country needed adequate time to plan and host, that country had to be Equatorial Guinea, yet it was this David of a country in the midst of uncertainty and failed expectations that came to the rescue of CAF and indeed Africa when the die was cast. The miracle of the Nations Cup 2015 is that of two brand new stadiums in six weeks. The grass in Ebibiyin and Mongomo stadiums were transported wholesale from Europe complete with sand etc and made to grow night and day to be able to host and survive at least six matches in eight days. Was it only the stadium? What of the training pitches, the hotels, transportation, security, communication……….. Yes CAF did put together what the Secretary General Hicham El Amrani called the “……the best of the lot, men and women with great football knowledge and expertise to help deliver what we envisage as a very challenging Nations Cup……” These men and women, so honoured did set to work expecting the worst, yet when they signed off on February 8 they were grateful to have been given such a responsibility, because the men and women who constituted the Local Organising Committee were so dedicated and committed that the competitions was condemned to succeed. Am I painting a picture of unmitigated success? Far from it. There were challenges here and there,

INEC as a football coach “ . . . The day your team is beaten, the day you are defeated, nobody remembers whether you have ever won a match in your life”. even the semi final protest that trailed the defeat of the host by Ghana. Yet as I told a friend, if a league protest in Egypt could result in 19 deaths and scores of the injured, then the “……..throwing of cans and bottles “ in the words of FIFA President Blatter though condemnable is just what it is “an exaggerated phenomenon that did not take anything away from the glory that Equatorial Guinea had bequeathed to itself ” The political will, determination, patriotism and attitude of the Equato Guineans was exemplary. Let me repeat that the Hayatou Executive, management and staff of CAF deserve a huge pat on the back for pulling off the Equatorial Guinea miracle. Right from the time Hayatou started affording less privileged countries ( Mali, Burkina Faso, Gabon, Equatorial Guinea….) the opportunity of hosting the Nations cup , great has been the desire so to do. Today, the Nations Cup has left Equatorial Guinea with four stadiums, training pitches a brand new airport in Mongomeyen, renovation of the one in Bata and above all skilled staff in the organization of top flight competitions. This piece will not be complete without a special paragraph dedicated to His Excellency the President whose personal commitment( visited and supervised the construction work in Ebebiyin and Mongomo every other day) attended the matches

religiously and took time out in a national broadcast to sue for peace after the Malabo incident. The miracle of Malabo would have cost me a vote or two in Nigeria’s elections, only for me to hear that it had been put forward. Much as I respect the views of all those who tend to know why it was postponed, am I happy. As the time I left, my PVC was not available and as the time I was away collections of same had ended. You can therefore imagine my joy when I headed to the Ikeja local Government secretariat in search of my PVC, only to be told that I had to come back in five days. Perhaps it was the civility of the staff, their cultured approach and patience despite visible harassment and screams of frustrated Nigerians that made me ask after their boss. That the Electoral officer was out of the office but that “he will not be long”. I must have waited for about five minutes when Imweoghomwen Ologbosere came. Amiable, calm and collected, he ushered me into his “modest office” and explained to me and another lady that collection had to be staggered in order to control the crowd and pressure, but since I was travelling out of the state and the lady had come all the way from Abuja, he will attend to us. I thanked him. How does it feel being an INEC Staff? His answer was well tailored. “Sir INEC is like a football coach. The day your team is beaten, the day you are defeated, nobody remembers whether you have ever won a match in your life”. That drew some laughter. INEC he said at one time or the other has been accused of being a member of nearly all the political parties. “There are times I believe it is a no win situation, but with the resoluteness, determination and patriotic zeal of our boss we are all galvanized into working towards the ultimate goal.” He believes that even if the election will not be flawless, ( we are not God) it will be professionally delivered and accepted. He prays and begs the politicians to allow INEC to concentrate and deliver. Our PVCs are found, we thank him profusely and leave, even as we hear voices raised in protest, of PVCs not received, of threats of tearing PVCs…and of accusations of the ineffectiveness of INEC. I wished that they, like I, would have the opportunity of sitting one on one with Ologbosere, let him tell them of the victories won and of the tactics that are planned for the forthcoming match on March 28. See you next week.

Garba picks final AYC squad Thursday N IGERIA’S Flying Eagles have to submit a final 21-man squad for the 2015 AYC to CAF by midnight of Thursday, officials have disclosed. The Nigeria U-20 currently have a 28-man provisional squad that includes Belgium-based

defender Wilfred Ndidi and Dolphins new signing Christian Pyagbara. Pyagbara joined the Flying Eagles training camp in Abuja on their return from two warm-up matches in Ghana, while the Nigeria Football Federation (NFF) are waiting on Belgian

club Genk over the release of Ndidi for the AYC. In the meantime, the results of the scans on Musa Yahaya and Zaharadeen Bello are expected to be made known in the new week. Yahaya suffered a knee injury during the

Flying Eagles second test match against Ghana in Tema, while Bello is nursing a swollen calf. The Nigeria U-20 are due to fly out for a training tour ahead of the AYC, which kicks off March 8 in Dakar, Senegal.

Aiyegbeni happy at Reading

•Aiyegbeni C M Y K

ORMER Super Eagles and Portsmouth, Middlesbrough striker Yakubu Aiyegbeni says he is enjoying life at Reading and hopes to end his career in England. The 32-year-old, who has a total of 114 league goals across spells at five English clubs, joined the Championship club on transfer deadline day until the end of the season. He came off the bench to score his first goal for

Reading and secured an FA Cup fifth-round victory at Derby on Valentine’s Day. Despite his FA Cup heroics, Yakubu says it is the way people at the club have helped him settle back into life in England that delights him most. “Since I came here I’ve loved every moment and all the people here are fantastic,” Yakubu told BBC Sport. “To score an important

GETTING READY...Flying Eagles squad taking instructions from Team Coach Manu Garba (l) during a training session. goal in the FA Cup was good, but it would not have been possible without the lads, staff and fans. “It’s an environment that makes you feel very welcome so I’m really enjoying it at Reading.” Yakubu is the secondhighest African and highest Nigerian goal-scorer in Premier League history, with a total of 96 goals com-

pared to Didier Drogba’s 101. In his last season in England with then-Premier League side Blackburn he scored 18 goals in 33 appearances. But Yakubu, who received big offers from the MLS, UAE and Europe in January, felt the chance to return to English football was too good to turn down.

62 — Vanguard, MONDAY, FEBRUARY 23, 2015

Elegbeleye commends Eaglets for picking World Cup ticket T

HE Director Gener al of the National Sports Commission (NSC) Honourable Gbenga Elegbeleye has praised the resilience and determination of the Golden Eaglets which got the team victory and qualification for this year’s FIFA U-17 World Cup. The Emmanuel Amunike coached Eaglets spanked Zambia 3-1 to qualify for the semi-final of the ongoing African U- 17 Championship in Niger and thereby picked one of the tickets reserved for Africa in the U-17 world cup; the Nigeria’s U- 23 national team led by Coach Samson Siasia also on Saturday went to Gabon and

defeated the home team 4-1 to brighten Nigeria’s qualification for this year ’s All African Games. The NSC top official expressed happiness for the heartwarming performances of the Nigerian national teams on Saturday and hailed the Nigerian winning mentality in them. “We are happy to hear the news of the victories recorded by the Golden Eaglets and the Dream Team VI in Niger and Gabon respectively. I am happier that the Eaglets by their qualification for the semi-finals of the ongoing Africa U-17 Championship have also booked their place in the finals of the world cup."

Tennis Club holds service of songs for Okoya-Thomas

HE Lagos Lawn Tennis Club (LLTC 1895) will on Monday, March 2, hold a Special Service of Songs in honour of Chief Molade Okoya-Thomas, MFR, FCNA, KSS, a notable sports enthusiast who died recently. According to a statement signed by Bala Yesufu, Executive Committee Member of the Club, the event which will take place at the Club premises, Onikan, Lagos, will commence at 6pm. The statement said “the Special Service of Songs is in recognition of Chief Okoya-Thomas’ immense contributions to the Club as well as sports development in the country. His role in the development of sports in Nigeria is no less remarkable and will remain indelible.” Chief Okoya-Thomas

was a past president of the Lagos Lawn Tennis Club (LLTC 1895) and until his death, the Chairman Board of Trustees of the Club. A sports lover and philanthropist of great repute, Chief Okoya-Thomas established the popular Asoju-Oba Table Tennis Championship. He was the sole sponsor of the tournament for over four decades. To demonstrate his avowed commitment to sports development in the country, Chief Okoya-Thomas served in several capacities and made significant contributions. He served as Vice-Chairman, Lagos Sports Council; Chairman, 3rd All Africa Games Appeal Fund Committee; Chairman, National Appeal Fund for Sports Development and Chairman, Sports Trust Fund amongst others.

TOP MAN . . . Italy-based Table Tennis player, Ojo Onaolapo being carried shoulder high by fans after winning a match. C M Y K

SANDWICHED . . . Golden Eaglets skipper, Kelechi Nwakali ( R) and teammate sandwich a Niger Republic opponent during African U-17 championship opening match.

Onaolapo, Omotayo talk tough ahead Lagos ITTF World Tour I

TALY-BASED duo of Ojo Onaolapo and Olajide Omotayo believe the International Table Tennis Federation (IT TF) World Tour tagged Lagos Open would provide Nigeria an ample chance to confirm its superiority in the sport. Onaolapo, who was part of Nigeria team to the last ITTF Africa Senior Championships would not want to remember the defeats he suffered in the hand of Egypt’s El-Sayed Lashin twice in Cairo, while Omotayo would not want the memory of his poor performance in 2014 to haunt him during the 2015 Lagos Open. Onaolapo, a silver medalist in the men’s doubles event at the Africa Senior Championships said he hopes to use the tournament to settle scores with the Egyptians. “My expectation for this year’s tournament is for me to train hard so that I can perform well

in any pro tournament this year. It was a bit difficult for me in my first tournament for the year especially with my recent move to Europe. After returning to Eu-

rope I have corrected some of the mistakes that I made in Cairo at the Africa Senior Championship,” he said. His words: “My target is to win the both the U-

21 and the men’s singles by God’s grace. I know I had to focus throughout the tournament because there is nothing impossible in table tennis and in life.”

Mobil schools sports final gets March 7 date

HE postponed grand finale of the Akwa Ibom State/NNPC/ MPN Schools Athletics Championships will now hold on March 7 in the main bowl of the Akwa Ibom International Stadium. Paul Bassey, the Consultant to the project told journalists in Uyo on Friday that the final will now hold on Saturday March 7 while the heats and semi finals will be held the day before in the same venue. In Akwa Ibom to meet with stakeholders over the forthcoming event, Mr Bassey confirmed that after meeting with the Manager Government and Public Affairs, QIT Mrs Regina Udobong, the state director

of sports Coach Aniedi Dickson, Stadium management and the Chairman of Sports coordinators Mr Omon Bassey, “…….we are set to run”

The final earlier scheduled for February 7 was put off due to the forthcoming elections and the non resumption of schools in Akwa Ibom. “

NFF clears air on Iwobi

HE Nigeria Football Federation has cleared the air on why it took Arsenal’s Alex Iwobi to Gabon for Saturday’s 11th All-Africa Games qualifier. According to NFF’s Director of Technical, Dr. Emmanuel Ikpeme, the NFF decided to take the striker along as part of the new administration’s policy of encouraging Nigerians in the diaspora to identify with the national teams and make up their mind to play for the team.

•Iwobi

Vanguard, MONDAY, FEBRUARY 23, 2015 —63

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Vanguard, MONDAY, FEBRUARY 23, 2015

We’ve accomplished our mission to Niger – Amuneke •U-17 FIFA World Cup ticket

Chelsea: Atkinson murdered sleep — Shearer

•Mourinho

•Siasia

My team’s work in progress — Siasia Details inside EPL Results Aston Villa 1 Chelsea 1 C/Palace 1 H/City 1 Sunderland 0 Swansea 2 Tottenham 2 Everton 2 South'ton 0 S/Africa I/Coast

Stoke 2 Burnley 1 Arsenal 2 QPR 1 W/Brom 0 Man U 1 W/Brom 2 Leicester 2 Liverpool 2

CAF U-17

3 Cameroon 1 0 Mali 0

BLOODY —The bloodied face of Martin Murray contorts as Gennady Golovkin connects with another barrage of brutal punches to rock the Briton

Keshi: NFF waits on B/Faso before naming Eagles’ coach QUICK CROSSWORD

TODAY'S

PUZZLE

FRI DAY'S FRIDAY'S

ANSWERS

DOWN 1 Believe (5) 5 Distant (6) 8 Adhesive (5) 10 Proper (6) 11 Greedy (4) 14 Dirge (6) 15 Dim (7) 18 Golf-peg (3) 19 Faucet (3) 21 Cart (4) 23 Leaf (5) 24 Appear (4) 27 Lair (3) 29 Rug (3) 31 Unaffected (7) 32 Seaman (6) 34 Weary (4) 35 Enclosed (6) 38 Javelin (5) 39 Demure (6) 40 Prompt (5)

DOWN 2 Regret (3) 3 Address (6) 4 Brown (3) 5 Genuine (4) 6 Crippled (6) 7 Coarse (6) 9 Began (7) 12 Tank (3) 13 Caribou (4) 16 Bundle (4) 17 Consumed (5) 20 Style (7) 22 Atmosphere (4) 24 Method (6) 25 discharge (4) 26 Spite (6) 28 Forthcoming (6) 30 Hill (3) 33 Repose (4) 36 Scull (3) 37 Finish (3)

YESTERDAY'S SOLUTIONS ACROSS: 1, Strict 5, Risk 8, Anger 9, Rum 10, Mass 11, Vote 12, Siren 13, Indeed 16, List 18, Stop 20, Par 22, See 23, Ear 24, Pile 25, Pant 28, Tickle 30, Pearl 32, Read 33, Said 34, Ilk 35, Renew 36, Eyed 37, Dragon.

DOWN: 1, Strain 2, Remedial 3, Compel 4, Insistent 5, Reverse 6, Iron 7, Knew 8, Ass 14, Dispersed 15, For 17, Sea 19, Tackling 20, Pit 21, Receded 26, Tinder 27, Reckon 29, True 30, Pare 31, Law.

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: 09-2341102, 09-2342704. E-mail: editor@vanguardngr.com, news@vanguardngr.com, letters@vanguardngr.com. Advert:advertproduction@yahoo.com Website: www.vanguardngr.com (ISSN 0794-652X) Editor: MIDENO BAYAGBON. Phone: 01-7742861, All correspondence to P.M.B. 1007, Apapa Lagos.

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