Akpabio,orji,jang,others wins pdp senate tickets by Vanguard Media Limited

...towards a better life for the people VOL. 25: NO. 62293

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MONDAY, DECEMBER 8 , 2014

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Akpabio, Orji, Jang, others win PDP Senate tickets See story on Page 7

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POCKET CARTOON

PRESENTATION—From left: Gunther Mull, CEO/Managing Director, DERMALOG Identification Systems(DIS) GmbH, Germany; and Jan Nack, Sales Director/Middle East & Africa, during the visit of management of DIS to the GMD/CEO, UBA Plc, Mr. Phillips Oduoza (Middle) where they presented a plaque to UBA as the leading bank in Biometric Verification Number (BVN) enrollment in Nigeria.

Akpabio, Orji, Jang, others win PDP Senate tickets •Mark, Ekweremadu, Dariye, Abaribe, Manager, Zaynab Kure, Adeyemi, Paulker retain tickets •Ndoma Egba, Chukwumerije, Ugbesia, Nenadi Usman lose out •Multiple candidates emerge in Anambra, Ondo •Edwin Clark’s wife, Bisola wins in Ogun •Ben Murray-Bruce, Kashamu, Ekwunife, Oduah pick tickets By Our Reporters

AGOS—THE nationwide senatorial primaries of the Peoples Democratic Party (PDP) churned out a mixed grill of shocking and expected results. Senate President David Mark, who is vying for the Benue South position for the fifth time, led a crop of incumbent

senators who were handed return tickets. Others include Deputy Senate President Ike Ekweremadu, Senators Joshua Dariye, Enyinnaya Abaribe, James Manager, Zaynab Kure, Smart Adeyemi and Emmanuel Paulker. However, Senate Leader, Victor NdomaEgba (SAN), who aspired to return to the

LIFEWORDS

BY PASTOR ITUAH

My concern is not whether God is on our side; my greatest concern is to be on God’s side, for God is always right – Abraham Lincoln.

TAKE HEART BY ELLA RANDLE

Do something that’s greater than you, something that helps someone else be happy or suffer less. I promise, it will be an extremely rewarding experience. One you’ll likely remember forever— M & Angel Hack

T’S been proven that the thoughts we choose have everything to do with our emotions. Any stress signal is a way of alerting you to say the five magic words: ‘I want to feel good.’ This is your intention to be tranquil and stress free—and it’s a way of connecting to divine spirit. Wayne Dyer surmises: Just watch babies, they’re in a constant state of love. How could they possibly be so joyful? Because they’re in harmony with the source. They have no resistance to being joyful— unlike adults. You didn’t come forth into this world to suffer, to be anxious, fearful or depressed. Remember, your thoughts, not your world, cause you stress. And you can change your thoughts.

Senate for the fourth consecutive time to represent Cross River Central, topped the list of senators who were denied return tickets. In this category are Senators Uche Chukwumerije (Abia), Nenadi Usman (Kaduna South), Odion Ugbesia (Edo) and Margery Okadigbo (Anambra North.) On a day that multiple candidates emerged in Anambra, Ondo and Bayelsa some serving governors were also given the green light to try their political luck in the Senate. In this list are Governors Godswill Akpabio (Akwa Ibom), Jonah Jang (Plateau), Theodore Orji (Abia) and Muázu Babangida Aliyu (Niger). Fresh faces that were handed tickets include Bisola Sodipo-Clark, wife of Ijaw Leader and Elder statesman, Chief Edwin Kiagbodo Clark; serving House of Representatives member, Uche Ekwunife; former Aviation Minister, Princess Stella Oduah; Buruji Kashamu and Ben Murray-Bruce.

Benue South: Mark returns unopposed

Senate President Mark polled 384 votes to emerge winner of the

Benue South Senatorial primaries. His only challenger, Chief Mike Onoja, withdrew from the race shortly before the commencement of voting citing, “national interest and unity of the Idoma nation” as part of his reasons. In his acceptance speech, Senator Mark praised Onoja for stepping down even as he dedicated the mandate to Idoma people. He said he was humbled by the o v e r w h e l m i n g endorsement by his constituents and pledged that, “whatever makes for the peace, unity and overall development of Idoma nation would be my guiding principle."

Dariye wins in Plateau Central

Former Governor of Plateau State and incumbent Senator representing Plateau Central Senatorial zone, Joshua Dariye was chosen as the PDP candidate of the zone. Dariye, who got the ticket for his first tenure on the platform of the Labour Party sought to return to the PDP to recontest the seat but was initially rebuffed by the state chapter of the party even when the National Secretariat of the Party gave him a waiver. He defeated Nde Alexander Molwus, incumbent House of Representatives member representing Pankshin/ Kanke/Kanam, Emmanuel Go’ar.

Kodili Okelekwe (26 votes) and Chief Sylvester Okonkwo (three votes). Ekwunife was declared winner by the returning officer, Mr. Ifeanyi David after the primary election held at the Alex Ekwueme square, Awka. However, Senator Annie Okonkwo, yesterday, emerged as the candidate in the exercise conducted by the Ejike Oguebegoled state executive of the PDP. He scored 282 votes to Ekwunife’s 14. Chief Sylvester Okonkwo got 7 votes, Chief Obiora Okonkwo had four while Mrs. Christy Okorie got 11 votes. The Independent National Electoral Commission, INEC, had in a statement recently, recognized Ejike Oguebego as the state chairman of PDP. In Anambra North, former aviation minister, Princess Stella Oduah picked the ticket by defeating the incumbent senator, Mrs. Margery Okadigbo, while Senator Andy Uba emerged winner in Anambra South senatorial zone.

Multiple candidates Oforma, Azubogu, elected in Anambra Ohanezi declare The perennial problem themselves Reps of multiple candidacy, candidates in which has hurt the PDP Nnewi in Anambra State played out again, yesterday. While Uche Ekwunife (Anambra Central), Andy Uba (Anambra South) and Stella Oduah (Anambra North), emerged as candidates, another primary also held in Awka returned Senator Annie Okonkwo as the candidate for Anambra Central. Mrs. Uche Ekwunife representing Anaocha/ Njikoka/Dunukofia federal constituency in the House of Representatives in one of the primaries scored 237 votes, beating Senator Annie Okonkwo (57 votes), Obiora Okonkwo (one vote), Chief Osita Ezenwa(12 votes), Chief

In like manner, three contestants for the House of Representatives for Nnewi North/Nnewi South/Ekwusigo federal constituency of Anambra State, yesterday, declared themselves winners in parallel primaries they conducted at three venues in the industrial town of Nnewi. For the exercise that took place at Nnewi Youth League hall, Mr. Julius Oforma was announced winner with 121 votes. At another exercise later at Anaedo Social Club, Nnewi, the incumbent member of the House of Representatives for the area, Chief Chris Azubougu was declared

winner with 105 votes out of the total 123 votes cast, while at Kings Palace Hotel, Nnewi, the third aspirant, Dr. Harry Ohanezi was declared winner. In all the three venues, no election materials were used and it was unclear who authorized those who described themselves as the returning officers to conduct the exercises.

Senate Leader, Ndoma-Egba loses re-election, vows to appeal

Senate Leader, Senator Victor Ndoma-Egba lost the bid for re-election to the Senate on the platform of the PDP for the fourth time as John Owan Enoh defeated him in the senatorial primary for Cross River Central Senatorial District. But the Senate Leader has rejected the outcome of the exercise and vowed to appeal it. In the tensed contest surrounded by intrigues, Senator Ndoma-Egba got 37 votes against Enoh’s 217. Enoh who is serving his third tenure in the House of Representatives is Chairman, House Committee on Appropriation.

How Chukwumerije lost Continues on page 16

Mr & Mrs

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MINNA JAILBREAK: 64 inmates recaptured, 211 still at large By Wole Mosadomi

INNA— ABOUT 64 of the 275 inmates, who escaped when gunmen attacked the Minna Medium Security Prison on Saturday, have been captured just as the Comptroller General of Prisons, Dr. Peter Ekpendo, said that the attack had no link with the Islamic sect, Boko Haram. About 211 prisoners are still at large, while a search team has been sent out to different parts of the state to ensure that the escaped prisoners were captured. The Comptroller General, who visited the Minna Medium Prison, yesterday, described the incident as unfortunate, embarrassing and c o m p l e t e l y unacceptable, stressing that any officer found culpable will face the full wrath of the law. According to him, “pre-report shows that there is no evidence to link Boko Haram to the prison break incident of Saturday.” Speaking to newsmen after inspecting the prison yards, Ekpendo said he had ordered the immediate transfer of 55 officers from the state and zonal headquarters to Minna Medium Security Prison and Minna Old Prison to beef up security. He assured that the security challenges facing the prisons will be tackled head-on, adding: "Justice must be done and sanity must be restored. The security of the prisons and all prisons is paramount.” On Saturday, gunmen attacked the Minna Medium Security Prisons as 275 inmates escaped. The gunmen also broke into the armoury and carted away weapons and bullet proof vests.

Court stops Obasanjo from publishing autobiography By Ikechukwu Nnochiri

BUJA — AN Abuja High Court sitting in Wuse Zone 2, has restrained former President Olusegun Obasanjo from proceeding with plans to publish or have someone publish on his behalf, a new autobiography entitled 'My Watch." Justice Valentine Ashi made the order following an ex-parte application filed before him by a chieftain of the Peoples Democratic Party, PDP, in the South-West, Mr. Buruji Kashamu. The court granted the motion marked FCT/HC/M/ 2392/2014, on Friday, after it listened to Kashamu’s lawyer, Dr. Alex Iziyon, SAN. Iziyon had argued that the content of the book relates to issues contained in the letter Obasanjo wrote to President Goodluck Jonathan and former National Chairman of the PDP, Alhaji Bamanga Tukur, on December 2, 2013 , where he alleged that Kashamu was a fugitive wanted in the United States of America. He contended that since the content of the letter is the subject matter of the libel suit his client filed against Obasanjo, which is still pending before the high court, it would be wrong for the ex-president to be allowed to proceed to comment on, write books about or make publications on the issue yet to be decided by the court.

AWARD:

The ruling

While delivering his ruling on the matter, Justice Ashi specifically restrained exPresident Obasanjo from either publishing the book or have it published on his behalf by anybody, pending the determination of the substantive suit pending before him. According to the court, “the defendant, Chief Olusegun Obasanjo, whether by himself, his agents, servants, privies or any other person by whatever name called and howsoever described, is hereby restrained from publishing or caused to be published in the yet to published book, ‘My watch’ or any autobiography or biography and any extracts of same, by whatever name called or howsoever titled, pending the hearing and determination of the motion on notice hereof.” Besides, Justice Ashi

From left: Special Adviser on Trade & Investment to Governor Ramalan Yero of Kaduna State, Alhaji Mohammed Sani Lere; District Head of Kura-Kano, Alhaji Bello Ado Bayero and Hajiya Fulani Bilikisu Ado Bayero at the NACC annual president's banquet award for Exellence in Governance and Business 2014, in Kaduna. Photo: Olu Ajayi.

equally restrained Obasanjo, his agents or privies, “from further writing, printing, publishing or causing to be published or printed or circulated, or otherwise, publishing of and concerning the plaintiff, the statement contained in the Daily Sun (pages 47-49) and The

Leadership newspapers (pages 3 to 8) of December 12, 2013 and which statements are alleged to have reproduced the letter written by the defendant to the President of the Federal Republic of Nigeria entitled: "Before it is too late’ or similar statements pending the determination of

the motion on notice.” However, before adjourning the case to December 10, the judge ordered the applicant to “execute a bond with the registrar of the court to pay such damages as shall be assessed should it turn out that the order ought not to have been granted in the first place.”

Some senior lawyers behind corruption in judiciary —CJN By Ikechukwu Nnochiri

BUJA — THE Chief Justice of Nigeria, CJN, Justice Mahmud Mohammed, has alleged that some senior lawyers are behind the increased level of corruption bedevilling the judiciary. The CJN, who made the allegation when the leadership of the Nigerian Bar Association, NBA, led by its National President, Chief Augustine Alegeh, SAN, paid him a courtesy visit at the weekend, insisted that corrupt politicians often use lawyers to tempt judges with bribes. He maintained that some lawyers not only aid, but equally abet corruption within the Bench, a situation he said portends danger for the justice system in the country. Therefore, the CJN tasked the NBA to put in more effort towards purging itself of ‘some corrupt elements’ within its fold. Other Justices of the Supreme Court that joined the CJN to receive the visitor were

Justices Mohammed Tanko Ibrahim, John Fabiyi, and Bode Rhodes-Vivour. Addressing the delegation, the CJN vowed to reinvigorate the judicial cleansing process that was commenced by his predecessors, decrying that lawyers have so far acted as clog to the process of weeding out corrupt judges from the Bench. He said senior lawyers were usually the first people to rush to court to secure an order of injunction restraining the National Judicial Council, NJC, from investigating judges that acted wrongly. He said: “I want to use this opportunity to urge the Bar to put the interest of the system far and above the individuals. Imagine this scenario; you in the Bar decry the 'rots' on the Bench, calling for disciplining and cleansing of the judiciary by weeding out the bad eggs on the Bench. “Yet, you are the first to jump to the court to seek restraining

order on NJC to stop it from the investigation and trial of a judge based on a petition brought against the judge before the council. How then is the principle of fair hearing sustained?”

On Rivers Judiciary

More so, the CJN urged the NBA to intervene and find a solution to the protracted impasse that has left the Rivers State Judiciary without a substantive Chief Judge for so many months now. “The perpetual closure of court in River State is unacceptable. NJC has never said governors cannot appoint state Chief Judges. “But the violation of the principle of checks and balances by state governor in Rivers State as enshrined in the constitution for the appointment and disciplining of erring Chief Judges or Judges is equally unacceptable. Seniority is part and parcel of the legal profession."

Vanguard, MONDAY, DECEMBER 8, 2014—9

MUTINY: Convicted soldiers appeal to COAS By Abdulwahab Abdulah

zSay ruling characterised with grave errors of law

AGOS — THE 12 soldiers convicted for mutiny in September, have appealed to the Chief of Army Staff, COAS, to disapprove the death sentence passed on them on the ground that the judgement of the General Court Martial was characterised with grave errors of law which occasioned miscarriage of justice. The soldiers argued that the verdict cannot be justified in law and urged the confirming authority to set aside the conviction and the death sentence passed on them as they are entitled to the fundamental rights guaranteed by the Constitution, including the fundamental rights of freedom of expression and freedom of assembly. The petition was filed on their behalf by Mr. Femi Falana, SAN, pursuant to Section 149(1) of the Armed Forces Act (Cap A20) Laws of the Federation of Nigeria,2004. Those convicted by the Court Martial on September 15, 2014, in Abuja are Corporal Jasper Braidolor with No: 96NA/ 42/ 6235, Corporal David Musa, 96NA/ 43/10277; Lance Corporal Friday Onu, 05NA/ 57/3451; Lance Corporal Yusuf Shuaibu, 09NA/ 64/ 4905; Lance Corporal Igomu Emmanuel, 09NA/62/ 1648 and Private Andrew Ngbede, 09NA/ 64/ 4214. Others are Private Nurudeen Ahmed,10NA/ 65/ 8344 ; Private Ifeanyi Alukhagba, 10NA/ 65/ 7084;Private Alao Samuel, 10NA/ 69/ 2898;Private Amadi Chukwudi,13NA/ 69/ 2907 ;Private Alan Linus,13NA/69/ 2898 and Lance Corporal Stephen Clement, 03NA/ 53/ 816. To justify the appeal, Falana drew the attention of the military authorities in Nigeria to the case of Oladele v. Nigerian Army, where the Court of Appeal held that members of the armed forces, like other citizens, are entitled to all the fundamental rights as guaranteed by the Constitution. Falana argued that “by this petition, we appeal to the Chief of Army Staff as the confirming authority to disapprove the finding of guilt and death sentence passed on the 12 convicted soldiers on the ground that the judgement of the General Court-Martial cannot be justified as it is characterized by grave errors of law whichoccasioned miscarriage of justice. Falana contended that it was clear that the authorities investigated the immediate and remote causes of the soldiers’ protest and confirmed that the complaints of the soldiers were not unfounded. He said: “Upon indicting

Glo empowers roaming subscribers

From left: Ambassadors Hamzat Ahmadu, Olu Adeniji, Tayo Ogunsulere, all former Ambassadors and Femi Ashiru, son of late Ambassador Gbenga Ashiru when Ashiru's corpse arrived Murtala Muhammed Airport, Lagos, yesterday. Photo: Lamidi Bamidele

Major General Ahmed Mohammed for not attending to the grievances of the aggrieved soldiers he was removed as GOC and retired from the Nigerian Army by the military high command. “With respect to the soldiers’ complaints of lack of adequate equipment to fight the Boko Haram troops who are armed with sophisticated weapons, the National Assembly has recently approved the request of the President and Commander-

in-Chief of the Armed Forces, Goodluck Jonathan, for $1 billion loan to purchase military hardware for the purpose of prosecuting the war on terror.” Falana submitted that from the facts of this case, the protest staged by the convicts and other soldiers at the Maimalari Cantonment was not connected with “operations against the enemy. He added: "On the contrary, the soldiers were protesting against the negligence of the Federal Government and the

military authorities to motivate and equip them to take part in the operations against the enemy. “Soldiers who were demanding weapons to fight the satanic Boko Haram troops cannot, by any stretch of imagination, be said to have committed the offence of mutiny.” He therefore urged the Confirming Authority to temper justice with mercy by granting the convicts full pardon.

Ashiru's body arrives Lagos airport By Lawani Mikairu & Daniel Eteghe

AGOS — THE remains of the former Foreign Affairs Minister, Ambassador Olugbenga Ashiru, arrived the Murtala Muhammed International Airport, MMIA, Lagos yesterday in a South Africa Airways Airbus 340-600 with Registration Nos: ZSSNC at about 4:30pm. The body was released to the family after airport formalities and clearance that lasted about two hours. Accompanying the body were the widow of the late envoy, children and his younger brother, Mr Bimbo Ashiru, who is Commissioner for Commerce and Industry, Ogun State. On hand to receive the body of the late Foreign Affairs Minister were the representative of the Ashiru family, Prof. Toyin Ashiru; some of his close friends and associates among whom are Mr. Kehinde Smith, who is widely regarded as his best friend; Mr. Niyi Alonge and Dr Yemi Ogunbiyi, a

renowned journalist and former Managing Director of Daily Times. Also present at the airport were former and current ambassadors who endured the long wait for the arrival and clearance of the body of the late renowned diplomat. In a brief and emotional interview with newsmen, the younger brother of the late diplomat, Mr. Bimbo Ashiru, said the family had lost a pillar

of support, a father and mentor. He said: "He was a confidant of all but who are we to question God. We hope and pray the good Lord will receive him into His bossom.” Ambassador Ashiru died last Saturday in a South African hospital after a long battle with brain tumour. He was 66 years old.

A G O S — INDIGENOUS telecoms operator, Globacom, has further empowered its subscribers who travel abroad for business or pleasure to use their Glo phones at minimal cost. In a new offer called Glo Unlimited, Glo subscribers now have an opportunity to enjoy free incoming calls in all destinations when they travel outside the country. Globacom’s Head of Glo Gateway, Steve Stretch, said the offer comes with a subscription fee of N2,500 for a validity period of 15 days. He explained that subscribers are to dial *0905# to enjoy up to 60 minutes of outgoing calls at a competitive rate of N100 per minute. The offer includes 15 free SMS and ability to browse the internet at 15 kobo per kb. He said that the roaming plan was currently available in 27 countries including the United States, United Kingdom, Italy, Netherland, South Africa, UAE, Sweden, India, Spain, Switzerland, Canada, Brazil and Cameroon, adding that “there are plans to extend it to more destinations.” Glo subscribers are allowed to enjoy free incoming calls up to a fair usage of 60 cumulative minutes during the 15 days validity period. After the free 60 minutes of incoming calls, normal roaming incoming call rates for the specific roaming location will be charged.

8,000 delegates to choose APC presidential candidate in Lagos

By Emmanuel Aziken

AGOS — At least 8,000 delegates are expected to choose the presidential candidate of the All Progressives Congress, APC, at its national convention commencing tomorrow in Lagos, party spokesman, Alhaji Lai Mohammed, said yesterday. Mohammed vowed that given the determination of the party to change the course of the country, the party would

ensure that the “process of effecting that change has commenced with the effective mobilisation of Nigerians to demand the change in the 2015 general elections.” Five presidential aspirants, namely: Alhaji Atiku Abubakar, General Muhammadu Buhari (rtd), Sam Nda-Isaiah, Governor Rabiu Kwankwaso and Governor Rochas Okorocha are scheduled to vie for the presidential ticket of the

party. Mohammed, at the briefing, defended the change of venue from Abuja to Lagos. According to him, central to the decision was neutrality, accommodation availability and security concerns. He saidJos, Plateau State, which was central enough was not chosen because of security concerns, adding that the party took a deliberate decision to ensure that the states of the aspirants contending were not chosen.

10 — Vanguard, MONDAY, DECEMBER 8, 2014

APC: Bayewu withdraws from Lagos West sen race ...As Fashola’s aide, Raji loses Reps primar y; Diya’s brother wins By Dapo Akinrefon

AGOS—24 hours after Lagos State Deputy Governor, Adejoke Orelope-Adefulire announced her withdrawal from the Lagos West Senatorial District race on the platform of the All Progressives Congress, APC, another aspirant, Kamal Bayewu has also withdrawn from the race. In a brief statement made available to newsmen yesterday, Bayewu, said he took the decision in the best interest of the party after wide consultations with party stakeholders. With their withdrawal, the coast is now clear for a member of the House of Representatives, Solomon Adeola popularly known as ‘Yayi’ to emerge the sole candidate of the senatorial district. Also, special adviser to Lagos State governor on Information and Strategy, Lateef Raji yesterday lost in his bid to become the APC candidate for Oshodi- Isolo Federal Constituency. Also, Wole Diya, younger brother to former Chief of General Staff, Oladipo Diya won the primary to represent Shomolu Federal Constituency under APC. Diya, a former member of the House of Representatives polled 199 votes to defeat Sesan Olanrewaju, who scored 192 votes and Gbenga Abdullahi who got 76 votes.

Tunji Braithwaite’s son loses PDP Central Senate primary Olumide Braithwaite, son of pro-democracy activist, Dr Tunji Braithwaite; yesterday lost the PDP Lagos Central Senatorial ticket to 2011 governorship candidate of the PDP, Dr Ade Dosunmu. Also defeated was 2007 governorship candidate of the Alliance for Democracy (AD) Mr Hakeem Gbajabiamila. The ticket was contested by Ade Dosunmu, Olumide Braithwaite and Hakeem Gbajabiamila. While Dosunmu polled 130 votes to emerge winner, Braithwaite scored 7, while Gbajabiamila scored 83 to clinch the second position.

OIL SLUMP: Bring down fuel price immediately, Fashola tells FG By Olasunkanmi Akoni

goes up globally, then it should also reduce when the price of oil drops. “I understand that I am not an economist; they (Federal Government) are the economists. But I have some logic and common sense to ask critical questions. For instance, if one buy flour at N10 per kilogram, and the bread was sold at N1 per loaf. If the price of flour drops, the price of the bread should also change,” Fashola added. The governor, therefore, urged President Goodluck Jonathan led administration to follow the footstep of other countries that

have reduced the pump price of oil products for their citizens. Fashola noted that the oil sector of the country had not been improved to address challenges confronting the nation especially unemployment, saying “The economy is not doing well. Some of you (audience) are compelled to try to survive through whatever means.” On how the oil sector would have addressed the unemployment challenges, he said. “If we are trying to build refinery with Dangote in Lekki Free Zone, LTZ, in Epe; and the construction alone would require

8, 000 workers. It means that they must get to work and back. So there is need for transportation service, there is need for food and other services during work and post construction. “So if we stop importing fuel, and start building refineries and doing other things right the economy will lift. If you build a gas grid for the country and rough estimate indicated that investing $5 billion, many businesses will began to get gas and some of the power installation can also convert to gas and others, there would be sudden positive effect on the country’s economy.''

AGOS—AS the global oil prices slid further downward, Governor Babatunde Fashola of Lagos State, yesterday, asked the Federal Government to review downward the pump prices of Premium Motor Spirit, PMS, from N97 per litre in the country in tandem with the slump in world oil price. The Organisation of Petroleum Exporting Countries, OPEC, had last Friday, on its website pegged the oil price at $66.27 per barrel. Fashola who blasted FG for its reluctance to adjust the pump price of PMS, made the remarks while addressing hundreds of youths at the Lagos State and After School Graduation Development Centre, AGDC, IGNITE Employability Project 5, Ikeja. He lamented that Nigerians were not receiving fair treatment from the central government like others in oil producing nation. Fashola said, “Now we should be enjoying cheap fuel if the price of oil has dropped globally. Even as we import the product, a major component has reduced in price and while this has reduced, the pump price of fuel in the country still remains the same. THANKSGIVING: All Progressives Congress, APC, Lagos State governorship candidate, Mr “Then something is wrong. If Akinwunmi Ambode (2nd right), his wife, Bolanle and Pastor Yinka Adeosun during Ambode victory the price increases in the thanksgiving at the Redeem Christian Church of God, Throne of God Parish, Ikoyi Lagos, yesterday. country when the price of oil

2015 polls: Ambode canvasses ‘United APC’ for greater heights By Olasunkanmi Akoni

A G O S — GOVERNORSHIP candidate of All Progressives Congress, APC, in Lagos State, Mr. Akinwunmi Ambode at the weekend extended hand of fellowship to all aspirants he defeated in a landslide victory during the party’s primaries conducted at Onikan Stadium last Thursday, saying, “the victory is for all the aspirants”. Meanwhile, APC chieftain in Lagos, Cardinal James Odunmbaku, yesterday, congratulated the former Accountant General of Lagos, Mr. Akinwunmi Ambode for his landslide victory at the primaries of the party, saying it was a welldeserved victory. Ambode, a former AccountantGeneral and Auditor-General of the state between 2001 and 2012, urged all the aspirants to team up with him to ensure the party’s victory in the governorship election slated for February 28, 2015. Ambode, who made the appeal at the weekend, noted that his emergence as the party’s flag bearer last Thursday “is a victory

for all the aspirants, who participated in the governorship preliminary election hence, the need to build a united party.” He commended all the aspirants for the robust effort they put into their campaign, which he said, showed the strength of the party given the energy and time the aspirants invested in marketing the image of the party through their aspiration. The Lagos APC governorship candidate added that he had started reaching out “to all my brothers and sister, who pursued their aspiration with vigour and vision in the just concluded governorship preliminary election. My emergence is indeed a victory for all the aspirants. “It was, also, a victory for our party. It was a victory for the people of Lagos State at large. It was a victory for democracy. We all need to work in the unity of purpose for the victory of our party in the 2015 general election. “I have been calling them on phone one by one. I have started reaching out to enable them see that my emergence is not all about Ambode. I have been

talking to them on the need to work as one indivisible entity,” he said. Ambode canvassed the need to build a united party, which he said, required the input of all the aspirants in the contest in order to defeat those who had been threatening to take over the state

in February 2015. He acknowledged the landmark achievements of the administration of former Governor Bola Tinubu and the present administration of Governor Babatunde Fashola, which he said, had become a reference point in the country and outside.

Lagos PDP gov primaries: ‘Why we must field the right candidate'

ORMER Minister for Works, Senator Adeseye Ogunlewe yesterday said that the Peoples Democratic Party in Lagos had no option than to field a candidate that could compete with the opposition party. Addressing a press conference ahead of its governorship primaries slated for Dec. 8, Ogunlewe said that the “APC has shown us the way”. He said “The APC picked a chartered accountant and a christian as its candidate from Lagos East Senatorial zone. The emergence of Ambode followed agitation for a christian governor and also by Lagos East that it was

their turn to produce the next governor of Lagos.” Besides, he said “the standard set for Lagos on the type of sophisticated professionals that any party should present makes it impossible for the PDP to go for less.” While warning of dire consequences for the party if it fails to field the right candidate, he said “We cannot go back to the days of babylon where anything goes. We will come up with a candidate the people of Lagos can vote for. The election is not for the party alone. Any party with victory in mind in a state like Lagos must present a candidate that is sell able”.

Vanguard, MONDAY, DECEMBER 8, 2014 — 11

Fashola campaigns for Ambode C

ONTRARY TO misrepresentations in some sections of the media, Lagos State Governor, Babatunde Fashola, at two different fora, weekend, continued his sustained campaign for his party, the All Progressives Congress, APC, and urged Lagosians to vote for its governorship candidate, Mr. Akin Ambode, in order to sustain the programmes of the present administration. It would be recalled that at several public fora and media interviews preceding the APC gubernatorial primaries in the state, Governor Fashola had reiterated his conviction that he would support any of the candidates produced by the party primaries He added that being product of the Lagos State Public Service system, any of the candidates who emerged would be able to carry on the task of sustaining the rapid development going on in the state since the return of democratic governance in 1999. Speaking at the Lagos Sea Food Festival 2014 at the Bar Beach, Victoria Island, Governor Fashola said supporting the new candidate and the party would also ensure that the state would continue to enjoy the good

governance and high performance attributes of the party which have been variously demonstrated in all the states under its control. Noting that the 2014 Annual Seafood Festival would mark his last as governor of the state, the Governor declared, “I urge you all to support the new APC governorship candidate; support him, support the party

and make sure that the festival continues.” He told the scores of fishermen and women as well as other related stakeholders at the well attended event, “If you want this to continue, you have a role to play; you have to register and you have to collect your Permanent Voters’ Card and then you can use your vote to choose what you want.”

“So, if you want this Sea Food Festival to be here next year, if you want CountDown to be here next year, if you want Beach Soccer to be here next year, the only way you can get them is to vote the government which is providing these activities in Lagos, the All Progressives Congress Party. "So, if you want to keep them, you must do your part. Vote APC,” the Governor said.

HE LAGOS State chapter of the Peoples Democratic Party, PDP, has assured aspirants contesting in Monday ’s governorship primaries to provide a level playing field. According to the party, the

BEOKUTA — THE Unity Party of Nigeria, UPN, in Ogun State has elected a businessman, Prince Rotimi Paseda, as its governorship candidate for the 2015 general elections in the state. Paseda polled 438 votes to emerge winner, of the party’s standard bearer at the gubernatorial primaries held in Ijebu-Ode. He promised to re-invent the values of the former premier of old Western Region, late Chief Obafemi Awolowo’s programmes.

Shiloh holds Dec 9 to 13

MEETING: Mr. Nicolaas Vervelde, Managing Director/Chief Executive Officer, Nigerian Breweries Plc; Chief Kolawole Jamodu, Chairman of the Board, and Mr. Uaboi Agbebaku, Company Secretary/Legal Adviser, at the Court Ordered Meeting of Shareholders of the company, at Eko Hotel.

PDP promises Lagos gov aspirants level playing field .6 PDP aspirants, 900 delegates to participate in primaries By Dapo Akinrefon

OGUN 2015: Paseda is UPN governorship candidate

aspirants should rest assured that there shall be level playing field for the process to produce an acceptable result to all stakeholders. State chairman of the party, Captain Tunji Shelle (rtd) also vowed that the process will be “democratic, transparent and divinely guided.”

Shelle said “the primary is to hold today, Monday, December 8, 2014 from 10a.m. We are expecting close to 900 delegates to participate in an elective process that we promised must be free, fair and credible. We will not give room for any hiccup as we know that

Lagosians are hoping on us to take over governance from the ruling All Progressives Congress, APC. Indeed at the end of the process, Lagosians will find our choice acceptable to them. We wish the aspirants best of luck.” The party, however, noted that the list of the governorship aspirants for the primary has been reduced to six with the formal withdrawal of Dr. A d e g b o l a Dominic. Other aspirants governor noted that the the concept of good remaining in the governance enhances contest are: Dr. democracy and (Mrs.) Modupe a c c e l e r a t e s Chukwuneke; B a b a t u n d e development. According to him, the Gbadamosi, Engr. country’s major fear of Tokunboh Kamson; Adedeji faulty elections and Engr. dubious mandates "is Doherty; Senator gradually fizzling away Musiliu Obanikoro Olujimi which indicates and improvement in its Agbaje. Meanwhile, the democracy. Lagos PDP has “We adopted a paradigm congratulated Mr. of development that has not yet matured for us. A k i n w u n m i for Privatisation is a policy Ambode emerging as the which is good, but it is quite advanced for us flag-bearer of the APC. here in this clime. The state chairman "We have just created e x p r e s s e d monopolies. The capacity imminent victory for in the public sector must be built for real PDP in the 2015 governorship development." elections.

Mimiko criticises FG’s privatisation policy By Dotun Ibiwoye

O V E R N O R OLUSEGUN Mimiko of Ondo State has criticised the privatisation policy, saying it is a development adopted by the country which it is not yet ready for. Mimiko noted that privatisation has it owns numerous advantages but has only created a monopoly which is at the detriment of the people in Nigeria. Speaking as the guest lecturer at the Island Club, Lagos’ Business Lecture with theme: ‘Good Governance as a Panacea for Rapid SocioE c o n o m i c Transformation," the

HE LIVING Faith Church Worldwide will hold Shiloh 2014 with the theme ‘Heaven on Earth’ from December 9 to 13, 2014 at Canaan Land, Km. 10, Idiroko Road, OtaLagos. This year’s event is the 16th in the series of the annual prophetic Shiloh events. President of the Living Faith Church, Bishop David Oyedepo, said apart from the main sessions, Shiloh 2014 will also feature Business Summit and Special Healing services daily throughout the event.

Public presentation of Ogun State’s golden years

GUN STATE: The Golden Years, a book on the achievements of the Senator Ibikunle Amosun administration, will be unveiled to the public on Thursday, 11 December, 2014 at DLK Events Centre, Abiola Way, Abeokuta. According to a statement by its author, who is also Special Assistant on Media to the Governor, the public presentation will bring together former Heads of State, state governors, leaders, captains of industry, political office holders in Ogun State, elder statesmen, senior bureaucrats, diplomats, academics, media executives, among others. Mr. Femi Adesina, President of the Nigerian Guild of Editors, will be the reviewer.

12 — Vanguard, MONDAY, DECEMBER 8, 2014

Order removal of Ekpemupolo as Chairman, Omadeli tells tribunal

ARRI — SUBSTITUTED candidate of the Peoples Democratic Party, PDP, in the October 25, 2014 local government polls in Delta State, Mr Weyinmi Omadeli, has asked the election tribunal sitting in Warri, Delta State, to order the removal of Mr George Ekpemupolo as the elected Chairman of Warri SouthWest Local Government Area, insisting that he (Omadeli) was the validly nominated candidate of the part for the polls. The tribunal is chaired by C. O. Oloke. Omadeli in a petition challenging the election of Ekpemupolo, is further praying the tribunal to declare the Certificate of Return issued to Ekpemupolo by the Delta State Independent Electoral Commission, DSIEC, as null and void, as same ought to have been issued to him (Omadeli) as the validly nominated candidate of the PDP. Arguing that he never had any formal notification of his purported substitution by the PDP and DSIEC, Omadeli contended that the name of Ekpemupolo was not published anywhere by the PDP and DSIEC, adding that the votes purportedly credited to Ekpemupolo on the election day were for him. Meanwhile, following the absence of Ekpemupolo and his counsel at the hearing in the case, the tribunal has directed that hearing notice be served on Ekpemupolo by substituted means or by advertisement in any newspaper circulating within the jurisdiction of the court before the next sitting on December 12, 2014.

Irregularities characterise A-Ibom Reps’ primaries By Tom Moses

YO— AGGRIEVED aspirants of the ruling Peoples Democratic Party, PDP, into the House of Representatives have protested the alleged discrepancies in the conduct of the party primaries which were rounded off weekend. From the party secretariat at Edet Akpan Avenue, Uyo, security personnel drafted to ensure hitch-free polls had hectic time controlling the surging crowd, including thugs allegedly hired by some aspirants to protect their interests. At press time, the results of nine out of the 10 federal constituencies have emerged amid complaints of irregularities and threats by

some aspirants to petition Governor Godswill Akpabio over allegations of imposition of candidates and engagement of fake delegates’ list for the contest. In Itu/Ibiono Ibom federal constituency, violence was prevented by security personnel when some political leaders of Ibiono Ibom, including the former Commissioner for Finance, Obong Bassey Albert, engaged his successor and kinsman, Mr. Akan Okon, from Itu Local Government Area, over who should collect the ballot materials meant for their constituency. At Ikot Ekpene federal constituency, there were parallel elections at the Ukana Mobile Police Base in Essien Udim and the constituency

office in Ikot Ekpene, where two candidates emerged after the polls. While the governor’s choice, Mr Emmanuel Akpan, emerged at the Ukana, Essien Udim centre, Saviour Udoh, the incumbent representative of the federal constituency was declared winner at the Ikot Ekpene centre. Addressing journalists yesterday, Udoh, who is seeking to return to the House, accused the governor of using his personal delegates’ list to conduct the exercise at the Ukana Mobile Police Base, adding that he used the authentic list approved by the National Working Committee, NWC of PDP, duly signed by the secretary, Mustapha Abdullahi, to conduct a parallel poll at the constituency.

2015: This is final battle to liberate Deltans — Ogboru By Festus Ahon

SABA—LABOUR Party, LP, governorship candidate in the 2015 general elections in Delta State, Chief Great Ogboru, has described the contest as his final battle in the quest to, according to him, “liberate the people of Delta State.” Ogboru in Asaba, the state capital after he was elected by acclamation as the party’s governorship flagbearer in the 2015 governorship poll, vowed to defend the people’s mandate which he said had always made him the genuine winner of previous elections. He said: “In the agitation, movement and struggle to liberate Delta State, we all can see now that there is a big difference. We have fought so many battles and even when we win, they say we didn’t win, but this is the last battle and the last river to cross. “People have been talking about Delta North, Delta Central, Delta South, but no one is talking about Delta State. Delta State is being controlled by a set of cabal, which is the strongest in the sub-sahara region and the people must be liberated."

Bayelsa PDP condemns attack on secretariat From left: Senator Aloysius Etok, Governor Godswill Akpabio of Akwa Ibom State and Senator Emmanuel Ibok-Essien during in the Peoples Democratic Party, PDP, primary election for Ikot Ekpene Senatorial District.

Edo APC senatorial race: Obahiagbon, Osagie in tight race By Simon Ebegbulem

ENIN CITY —THE All Progressives Congress, APC, senatorial primaries in Edo State is holding today amid tension.

Meanwhile, majority of the party leaders in Edo Central have endorsed Chief Francis Inegbeneki ahead two other aspirants. The others are Prince Joe Okojie and Theo Oko.

In Edo South senatorial district, it is going to be a tight race between the Minority Leader of the House of Representatives, Samson Osagie and the Chief of Staff to the Governor, Patrick Obahiagbon (Igodomigodo). In Edo North senatorial district where Governor Adams Oshiomhole hails from, the incumbent senator, Domingo Obende, is going to slug it out with the Secretary to the State Government, Prof. Julius Ihonvbere, who is from the Owan axis and Chief Francis Alimekhena from Etsako.

By Samuel Oyadongha

ENAGOA — THE ruling Peoples Democratic Party, PDP, in Bayelsa State, has condemned the attack on its secretariat on DSP Alamieyeseigha Expressway, Yenagoa by irate youths, during Saturday’s House of Representatives primaries. The PDP, in a statement by its Publicity Secretary, Osom Makbere, blamed members of the opposition within the party for being the brains behind the attack. According to the statement, “the PDP is a formidable and most peaceful party in the country and we note with dismay the activities of some highly respected members of the party, especially the use of innocent youths to disrupt the party’s primaries." “The irate youths in an attempt to hijack the election materials forced their ways into the building and ransacked all the offices in search of election materials and other vital documents."

Vanguard, MONDAY, DECEMBER 8, 2014—13

DELTA PDP GOV PRIMARIES: Edevbie, Okowa flex muscles …Obuh insists, I am in the race By Emma Amaize, Festus Ahon & Brisibe Perez

GLOBAL HONOUR FOR NIGERIA TELECOMS: From left; Minister of Communication Technology, Dr. Omobola Johnson, and the Executive Vice Chairman of the Nigerian Communications Commission, NCC, Dr. Eugene Juwah display their award of Strategic Partnership by the International Telecommunications Union, ITU, at the ongoing ITU World 2014 holding in Doha, Qatar while Secretary General of ITU, Dr. Hamadoun Toure (right) applauds.

S A B A — T O D AY ’ s Peoples Democratic Party, PDP, governorship primaries in Delta State may be a straight fight between a former Commissioner for Finance in the state, Chief David Edevbie and Senator Ifeanyi Okowa, who lost the ticket narrowly to Governor Emmanuel Uduaghan in 2006. The fresh permutation followed an alleged withdrawal of support for retired Permanent Secretary, Mr. Anthony Obuh, by Governor Emmanuel Uduaghan, Saturday night, following pressures mounted on him and inability of the governorship aspirants from Delta North senatorial district to present a consensus candidate. Meanwhile, the Obuh campaign team, yesterday, denied wide rumours that Obuh had been asked to step down for Edevbie, saying that it was the last minute desperation of political rivals, adding that Obuh has not lost the support of strategic backers as widely reported in some social media. “It is not true. These are wicked rumours from the other candidates, who are afraid of losing. The fact is that Mr. Obuh is the candidate to beat and he remains steadfast and resolute in his bid to become the governor of Delta State. He is very enthusiastic about the primaries tomorrow (today) and he will be there to garner the votes of the delegates,” Mr. Basil Okoh, a media aide to Mr. Obuh said yesterday. On the endorsement of Edevbie by the Urhobo Progress Union, UPU, he said: “The UPU is a sociocultural organisation like the Anioma Congress and they speak for their ethnic enclaves. They do not speak for the voting population of Delta State and please note that the majority voting population of Delta State is no longer ethnicbased, but people with progressives minds are voting for candidates who can deliver on their promises to the electorate.” Edevbie was picked by the umbrella socio-cultural group of Urhobo, Urhobo Progress Union, UPU, as its sole candidate barely 48 hours to today’s primaries, having polled 40 points to beat his closest rival, Obarisi Ovie OmoAgege, who scored 34 points at the screening conducted by the group. Senator Okowa enjoys the support of independent party faithful across the three senatorial districts of the state. Obuh, earlier touted as the favoured candidate was supposedly dumped at the 11th hour by Governor Emmanuel Uduaghan because the over 15 governorship aspirants from Delta North senatorial district (Anioma) did not agree on a common front. This claim, however, has been

refuted by his campaign organisation. The Anioma Congress tried, last Thursday, to make the Delta North governorship aspirants to see reason, but they all refused to step down for one another. Senator Okowa maintained that he was the best qualified to take over from Dr. Udughan, while the former Speaker, Mr Victor Ochei, said he was more equipped to rule the state. One of the Delta North aspirants, Chief Mike Uwaka, who was among the five aspirants, including Mr. Obuh that met with a member of the party’s Board of Trustees, BoT, Chief Sonny Odogwu, last Friday, at Asaba, confirmed that the botched effort by Anioma Congress to pick a consensus candidate. Chief Godwill Obielum, Ambassador Gabriel Oyibode and Festus Okubor ruled out the possibility of stepping down for anybody, saying that all they want the party to do was to provide level-playing field for all the aspirants.

Deputy Governor of the state, Prof Amos Utuama, who came out third in the UPU screening with 32 points, reportedly stepped down, yesterday, for Edevibe, but former Minister of State for Education, Kenneth Gbagi, who placed 4th in the UPU screening, said it was a kangaroo arrangement and he will go ahead with today’s primaries. Gbagi told Vanguard, “The battle is between the former governor, Chief James Ibori, who had instructed UPU to pick his candidate, Edevbie against President Goodluck Jonathan and former Minister of Information, Chief Edwin Clark. “It is a game plan by Ibori, I want you to recall that Edevbie was his former Commissioner for Finance, Utuama, his Attorney General and Commissioner for Justice and Omo-Agege, his Secretary to the State Government, he lined them up and told the UPU what to do. That is what happened,” he claimed. Utuama, who spoke at the formal presentation of Chief Edevbie by UPU, to Urhobo

delegates, yesterday, said that he and other delegates would queue behind the aspiration of Chief Edevbie at the governorship primaries. Utuama who spoke during the formal presentation of Chief Edevbie by the Delta Central senatorial district delegates stated that he never decided to be governor of the state for his personal interest, but to prove a point that majority is an essential element of democracy. Former governorship aspirant and Chief of Staff to the Governor, Chief Paulinus Akpeki, who recently spoke on the party’s decision to shift power to Delta North, had allegedly been directed to ensure Edevbie's delivery by the powers that be in the party. A source said he had been named the chair of the Transition Committee to hand over power to Edevbie. Addressing the UPU delegates at Ughelli, yesterday, Akpeki applauded the leadership strides of UPU President General, Chief Joe Omene,

Awhinawhin, Reyenieju, Nwaokolo pick PDP Delta Reps ticket By Emma Amaize, Festus Ahon, Egufe Yafugborhi, Godwin Oghre & Brisibe Perez

SABA—LIKE the state House of Assembly elections, late arrival of materials characterised, yesterday's House of Representatives primary election of the Peoples Democratic Party, PDP in Delta State. Our correspondents, who monitored the elections reports that accreditation started in most of the centres at 4:35p.m. Among results that filtered in Saturday night had Chief Solomon Awhinawhin as winner with 63 votes to defeat the incumbent member representing the Ughel-

li North/Ughelli South/Udu federal constituency, Chief Austin Ogbaburhon who polled 38 votes to come second. The incumbent member representing Sapele/Okpe/Uvwie federal constituency, Ms Evelyn Oboro was declared winner having polled 91 votes to defeat Mr Efe Afe who polled 29 votes to come second. Chief Lovett Idisi clinched the Ethiope federal constituency ticket with 43 votes to beat the incumbent, Chief Akpodiogaga Emeyese who had 14 votes. At the Isoko federal constituency, the Deputy Majority Leader and incumbent member representing the constituency, Mr Leo Ogor was declared the win-

ner of the primary election with 89 votes. The incumbent member representing Ika federal constituency in the House of Representatives, Mr Victor Nwaokolo, was declared winner of the primaries. Incumbent Mr Daniel Reyenieju won the PDP ticket for the Warri federal constituency in the primaries held at the Warri Township Stadium, yesterday. Reyenieju scored 70 votes to edge Val. Areyinka who got 56 votes while daughter of late Hope Harriman, Ete Ayida scored two votes with Olivia Agbajoh polling one of the total 129 votes of accredited delegates.

Murray-Bruce wins PDP primaries for Bayelsa East senatorial seat

HAIRMAN, Silverbird Group, Mr Ben Murray-Bruce, has won the Peoples Democratic Party, PDP primaries for the Bayelsa East senatorial seat in the 2015 general elections. Murray-Bruce polled 138 votes to emerge winner in the primaries, while his other contestants, Mr. Anthony Ikoli, SAN, scored 11 votes, Nelson Belief, two votes, Mrs Irene Opuene four votes, Austin Dressman (withdrew), Professor Ayebaemi Spiff (withdrew). Murray-Bruce, an indigene of Akassa-Ijaw in Bayelsa State, had promises to make his constituency a showpiece eco-friendly island, by proposing relevant legislative solutions that will boost the economy. Murray-Bruce, said he will also focus on the improvement of public health infrastructure, education and managing the adverse impact of climate change in Nigeria.

...As Lady Festus-Omoni, 4 others emerge as PDP rep candidates By Samuel Oyadongha

ENAGOA— F E M A L E contestant, Sodaguwo F e s t u s - O m o n i representing Ogbia federal constituency and four others on Saturday emerged winners at the Peoples Democratic Party, PDP, House of Representatives primaries held in Bayelsa State. Others are; Douye Diri, ( Ye n a g o a / K o l o ku m a federal Constituency), Nimbofa Ayawei, (Southern Ijaw), Sodaguwo Festus-Omoni, (Ogbia) and Fred Agbedi (Sagbama/Ekeremor). Chairman of the Electoral Panel, General Idi Adamu, (retd), who announced the results in a statement, yesterday, added that the party primaries, were held in the five federal constituencies that make up the state under a peaceful atmosphere.

14 —Vanguard, MONDAY, DECEMBER 8, 2014

C M Y K

Vanguard, MONDAY, DECEMBER 8, 2014 — 15

16—Vanguard, MONDAY, DECEMBER 8, 2014

PRESS CONFERENCE—From left: Mr Olayinka Oyebode, member; Senator Babafemi Ojudu, member; Alhaji Lai Mohammed, and Mr Preye Agalaha, Secretary, at a press conference by the Media and Publicity Committee on the National Convention of All Progressives Congress, APC, coming up in Lagos on Wednesday and Thursday. Photo: Joe Akintola, Photo Editor.

Akpabio, Orji, Jang, others win PDP Senate tickets Continues from page 7

in Abia

In Abia, Governor Theodore Orji won the party ’s ticket for Abia Central unopposed. He scored a total of 221 votes to be declared the winner by the returning officer, Chief Ndidi Okereke. The election which was monitored by INEC officials was held at the Umuahia Township Stadium amid tight security provided by the Abia police Command whose commissioner, Adamu Ibrahim was physically present to supervise his officers and men. Senator Nkechi Nwaogu, who was screened and cleared to contest the election with Governor Orji, boycotted the exercise, citing lack of confidence in the processes leading to the primaries as her reason. She had alleged that the whole exercise was manipulated and skewed towards some preferred aspirants in the state. In Abia North, it was a big upset for Senator Uche Chukwumerije who was roundly defeated by a former member of the House of Representatives, Mr. Mao Ohuabunwa. He polled 103 votes against Chukwumerije’s 21 votes. Chief David Ogba Onuoha came second with 67 votes. In Abia South, the incumbent, Senator Enyinnaya Abaribe won with 169 votes. He defeated his only rival, Comrade Princewill Onyekachi Ojeh who got

only two votes. In his acceptance speech, Governor Orji commended the way the exercise was conducted, saying that it “enhanced democracy.”

Langtang North/ Langtang South Federal Constituency) and Johnbull Shekarau (Mikang/Qua’an Pan Federal Constituency.)

It’s Jang on the Plateau

Bayelsa: MurrayBruce, Paulker win

Governor Jonah Jang became one of the serving governors to be given a senatorial ticket. He got 273 votes to emerge as the PDP Senatorial candidate for Plateau North Senatorial zone. He defeated former Ambassador to Ukraine, Ibrahim Kasai who scored 18 votes. 291 delegates participated in the exercise. All other federal constituencies where the exercise took place recorded success as Governor Jang’s candidates emerged winners. Among those who won the House of Representatives primary elections are the immediate past Attorney General and Commissioner for Justice, Barrister Edward Pwajok, who emerged winner for Jos South/Jos East Federal Constituency; the immediate past Commissioner for Works, Chris Hassan (Jos North/Bassa Federal Constituency) and Istifanus Gyang (Barkin Ladi/Riyom Federal Constituency.) Others are Engr. Solomon Maren (Mangu/Bokkos Federal Constituency), Timothy Golu (Pankshin, Kanke and Kanam Federal Constituency), Beni Lar (who retained her position to represent

Chairman, Senate Committee on Oil and Gas, Downstream sector, Senator Emmanuel Paulker and former Director General, Nigerian Television Authority, (NTA), Mr. Ben Murray Bruce emerged as PDP candidates representing Bayelsa Central and East Senatorial districts respectively. In the Bayelsa Central Senatorial District, Senator Emmanuel Paulker polled 174 votes. His closest rival, Austin Ogionwon Febo scored 17 votes while Ebiundu Komonibo scored one vote and Torunana also had one vote. In Bayelsa East Senatorial District Mr. Ben Murray-Bruce polled 138 votes beating Mr. Anthony Ikoli, SAN, (11 votes), Nelson Belief (two votes), Mrs Irene Digitemie Opuene (four votes). Austin Dressman and Professor Ayebaemi Spiff withdrew from the race.

...Mild drama as Lokpobiri also emerges in parallel exercise

However, there was a mild drama in Bayelsa West senatorial district as parallel primaries were held leading to the emergence of former chairman of the state scholarship board, Evang. Fister Ogola and the incumbent Senator,

Heineken Lokpobiri as candidates. The primary which returned Foster Ogola was held at the State College of Education hall in Sagbama and had in attendance the state Governor, Seriake Dickson; former state Deputy Gover nor, Peremobowei Ebebi. The aspirants were Evang Foster Ogolo and Ayakeme Whiskey, Dr. Stella Dorgu, Frank Akpoebi and Capt. Matthew Karimu. The primary that returned Senator Heineken Lokpobiri was held at the Sagbama Community Primary School 2 and was attended by PDP faithful including former commissioners and incumbent member representing Sagbama constituency III of the State House of Assembly, Ebamugha Empere. At the State College of Education venue of the primary election where the state governor participated, Foster Ogola was returned as winner with 69 votes out of the 113 votes cast. The dramatic entry of Senator Heineken Lokpobiri to the venue as the returning officer Offorji Oboku was about to announce the result caused a stir as some delegates hurriedly left the hall. Senator Lokpobiri, who had earlier been declared absent during accreditation confronted the returning officer and demanded to know what he was doing. He later walked out of the venue and returned to the venue of the parallel primaries that returned him. Dickson maintained a studied silence during the ensuing drama as he was shielded by his security aides to prevent any ugly incident. Dickson, while commenting on the outcome of the election, urged members of the PDP family to work together to ensure the emergence of credible representatives that would give effective support to the re-election bid of President Goodluck Jonathan.

Ekweremadu returned in Enugu

Following the withdrawal of Governor Sullivan Chime, Deputy Senate Ekweremadu vied for the Enugu West Senatorial zone PDP ticket unopposed and was returned with 294 valid votes cast by delegates from all the five local government areas in the zone.

Parallel primaries in Ondo produce Olajumoke, others

PDP Senatorial candidates

Benue South David Mark Plateau Central Joshua Dariye Plateau North Jonah Jang Anambra Central Uche Ekwunife Anambra North Stella Oduah Anambra South Andy Uba Cross River Central John Owan Enoh Abia Central Theodore Orji Abia North Mao Ohuabunwa Abia South Enyinnaya Abaribe Bayelsa Central Emmanuel Paulker Bayelsa East Ben Murray-Bruce Bayelsa West Fister Ogola/Heineken Lokpobiri Enugu West Ike Ekweremadu Edo Central Clifford Ordia Edo North Paschal Ugbome Edo South Matthew Urhoghide Ondo North Bode Olajumoke/Olu Agunloye Ondo central Ayo Akinyelure/Olusola Agbesua Ondo South Yele Omogunla Ikot Ekpene Godswill Akpabio Uyo Bassey Albert Eket Nelson Effiong FCT, Abuja Philip Tanimu Aduda Delta North Postponed Delta South James Manager Delta Central Ighoyota Amori Ogun East Buruji Kashamu Ogun West Waliu Taiwo Ogun Central Bisola Sodipo-Clark Niger East Mu’azu Babangida Aliyu Niger South Zaynab Abdulkadir Kure Niger North Halidu Agwara Kwara North YinusaYahaya Kwara Central Yinka Aluko Kwara South Lola Ashiru Kogi West Smart Adeyemi A member of the PDP BOT, Dr Bode Olajumoke yesterday won the primaries to represent Ondo North senatorial zone in the National Assembly. Dr Olajumoke was in the senate between 2007/ 2011. Although parallel primaries were held in the three areas, but INEC and representatives of the national secretariat of the party only attended the primaries organised by the new PDP. The incumbent senator representing Ondo central, Senator Ayo Akinyelure was the only one returned of the three senators that were elected on the platform of Labour Party in 2011. A former Commissioner for Works Yele Omogunla was elected to represent Ondo South senatorial district. Speaking with Vanguard, Dr Olajumoke said he would continue from where he stopped in 2011 and promised to bring dividends of democracy to the people of the area.

Akwa Ibom picks Akpabio, Albert, Effiong

Governor Godswill Akpabio of Akwa-Ibom State, yesterday, emerged the unopposed Senatorial candidate of the PDP for Ikot Ekpene zone. The incumbent, Senator Aloysius Etuk had earlier stepped down for him as a result of numerous consultations held with major stakeholders in Ini and Ikono Federal

Constituency. In Uyo Senatorial District, former governorship aspirant, Obong Bassey Albert also slammed the incumbent, Senator Ita Enang to clinch the ticket just as Nelson Effiong, former Speaker of the Akwa-Ibom State House of Assembly had the upper hand in Eket Senatorial District.

Delta North Senatorial primary postponed, as Amori, Manager emerge in Central, South

The political atmosphere in the Delta North Senatorial District, yesterday thickened following the unexpected postponement of the PDP senatorial primary in the district to Tuesday (tomorrow) because of what sources attributed to logistics problem. At the Delta South Senatorial District, incumbent Senator, Senator James Manager clinched the ticket with 291 as against the 13 votes scored by Air Vice Marshall Terry Okorodudu (rtd), the only other contender in the senatorial primary held at the Warri Township stadium. Governor Emmanuel Uduaghan who withdrew from the race for the Delta South ticket a couple of days to the primary was present to cast his vote as a delegate and left almost immediately.

Vanguard, MONDAY, DECEMBER 8, 2014 — 17

C M Y K

18 — Vanguard, MONDAY, DECEMBER 8, 2014 OUR politicians are the same. They want to serve us. They seek any platform to serve us. They insist on serving us. To achieve their burning desire, they break rules, even the rules of the parties through which they want to access power. Their understanding is that power is so important that they should do anything to acquire it. Primaries of the various parties have revealed the same thing – there are no rules. Circumstances rule the parties. Recent losers to the fluidity of the rules, also earlier beneficiaries of the breached rules, are complaining loudly. In our politics, neither rules, nor precedents matter. The might of those in momentary control is everything. The internal democratic processes of all the parties are flawed. Party members only complain when they are not beneficiaries of the choreographies called primaries. Why do they all want to serve us? Why are they disinterested in what we say, as they serve us? Have they found out what we want? What record of service supports their current quest? Why is almost everyone joining politics, draining valuable resources from other professions? The simple answers are in the nature of

The ant TTo o Theyy All W Want Ser Servve Us our politics. Its military structures that President Olusegun Obasanjo once likened to garrisons and asked everyone to follow the dictates of the commanders – in that instance, a known promoter of thuggery in Ibadan – highlight why our politics alienates the people. Politicians are the commanders. They tell the forces what to do. They insist things are done their way, for the people. The occasional recourses to the people during elections and campaigns that are more like carnivals are staged to stress the

importance of the people to democratic processes, another farce. A politician’s service is his survival strategy. Most politicians are in it for themselves. The contrary picture of prosperous people, who have so much, that they want to give back to society is patently false. Politicians see involvement in government as the only on-going business. The profits, when they succeed, put other ventures to shame. They are interested in Nigeria because she provides the resources they want to annex. They humour the people when they stress the importance of the people to democracy. The desperation of politicians, with some jumping from one party to the other, in search of channels to power, emphasises politicians as self-serving. They have been at it for years. As the economy contracts, the desperation has increased. Many professionals are abandoning their specialisations for the pleasures of politics, creating more skills gaps. Nigerians, after 16 years of unfulfiled promises should deny serial, self-serving politicians spaces in our future. Our votes can make that decision in 2015.

OPINION Still on Agbaje and the credibility challenge

By Aliyu Mohammed

O say that Lagos State is a microcosm of Nigeria is to say the obvious. Virtually everything that takes place in the larger Nigerian nation has its replica in Lagos State. This is more so in the area of politics where the ruling All Peoples Congress (APC) is being given hard tackles by the leading opposition party, the Peoples Democratic Party (PDP) in much the same way the PDP is being tackled by the APC at the national level where the roles are reversed. Just as there has been a rash of carpet crossing across the two major parties at the national level, Lagos has witnessed a similar trend with some moving from the opposition to the ruling party in search of better fortunes while others have jumped out of the ruling party to the opposition for various reasons. But in Lagos, there is a dimension to the politics of carpet crossing that is not as intense at the national level as it appears to be in the state. That dimension has to do with allegation by some politicians against others who have crossed from some other parties that they are moles sent in to spy for their former parties. This trend is more endemic in the Lagos State chapter of the PDP where the allegation that one of the gubernatorial aspirants on the platform of C M Y K

the party, Mr. Jimi Agbaje, is an APC mole planted in the PDP to diminish the fortunes of the party at the forthcoming elections. This assertion is spreading like wild fire and appears to command some credibility. Any close observer of the politics of Lagos State would agree that Mr. Agbaje is not the only politician that has defected to PDP. In fact, after the 1999 election when founding members of the PDP in the state like Dapo Sarumi were the front runners for the party’s gubernatorial ticket, subsequent elections have always had defectors from the ruling party (in its various shapes and names ranging from AD to ACN and now APC) as front runners. The late Engr. Funsho Williams was one such. The situation has never arisen where any one of the defectors from the ruling party who became a front runner for the PDP’s ticket was accused of being a mole in the party. The questions that arise from this are: Why is Mr. Agbaje being tagged as an APC mole in the PDP? And why do people seem to believe that the allegation is true? Though Mr. Agbaje himself has denied the allegation and explained that his wide network of contacts and good relationship with top members of the APC in the state does not mean loyalty to that party, his body language and conciliatory attitude towards

the leadership of the Lagos APC tends to belie his position. There are also serious allegations which Agbaje himself has not denied, which is that he usually holds meetings with Tinubu and other APC topshots in Tinubu’s residence at Bourdillon in Ikoyi, Lagos. What could they be discussing? Is it not strange that a so-called PDP man would be fraternizing in the night with the APC, a party he claims he wants to unseat? Is that the reason he is comfortable with the state government and rarely condemns any of the actions of the APC-led administration, which Lagosians view as anti people?

Politics without bitterness It is true that Mr. Agbaje claims to be an apostle of politics without bitterness, but a situation where an aspirant for the gubernatorial ticket of an opposition party does not see anything wrong with the government of the ruling party that he intends to unseat and is always very careful not to say anything that could offend the sensibilities of the members of that party shows that there could still be some very powerful link between the man and the state government. This also implies one or two things. Firstly, it could mean that his heart

and mind is really with the APC, being a former member of the ACN which was one of the legacy parties that metamorphosed into the APC. Or, secondly and more seriously, it could be that he is a mole, an infiltrator sent to damage the PDP, the greatest threat to the ruling APC in the forthcoming election. One does not need to look very hard to see examples of politicians who carpetcrossed and became very bitter critics of their former parties only to cross back to those parties after they had won election on the platform of their new parties. Mr. Agbaje could be seen in that light, just that he could not afford to adopt a similar style of criticising the APC and its leaders and still find the courage to go back after winning election on the platform of another party without doing grave damage to the image of an urbane politician that he claims to have. His conciliatory stance towards the APC and its leaders may just be his way of safeguarding his reputation in the event that he has to beat a retreat back to the APC. Though Mr. Agbaje appears to be a good gubernatorial hopeful with some political capital, PDP Lagos must ensure that it does not make the mistake of fielding a candidate who will deliver PDP very cheap to the APC in 2015. Where trust is lacking in politics, betrayal is not impossible. *Mohammed sent this piece from Lagos.

Vanguard, MONDAY, DECEMBER 8, 2014— —19

By Bobson Gbinije “If liberty and equality, as is taught by some, are chiefly to be found in democracy, they will be best attained when all persons alike share in the government to the utmost”. -ARISTOLE (384322 B.C) Politics VERY society and nation that wants to make palpably tangible growth and progress must ensure that it is super structed on the pedestal of unity, self-abnegation, people-driven ideas and patriotism. But when a nation is encapsulated in the throes and keels of negative ethnicism, regional affiliation, neanderthal sentiments, corruption, leadership inertia, nepotistic proclivities and godfatherism, etc. it is singing its own nunc demitis. Nigeria is a nation formed as result of the agglomeration of different heterogeneous groups of people. It is a cockpit of multiculturalism and the melting pot of ethno-linguistic, political, historical and religious pluralism. Since the 1914 Lugardian albatross that led to the amalgamation of the Northern and Southern protectorates, Nigeria has been and is still orchestrating and fine-tuning governing formulas that will truly take the Nigerian nation to the El dorado of socioeconomic and political greatness. The political engineering process has taken us through over ten constitutions and periods of military interregnum. Nigeria is a nation where political, socio-economic, educational and historical

2015 elections and national interest policies are defined along the primordial contours of ethnicism and corruption etc. Ethnicism is the pathological and psychotic belief in the values, supremacy, characteristics and norms of one’s ethnic group. It degenerates overtime to ethnocentricity-a process whereby an ethnic group uses its own value system to assess the culture and values of different groups, the result of which is often the misunderstanding, dominance and misrepresentation of the culture of other groups. The late great sage and political colossus chief Obafemi Awolowo once said “I will first be a Yoruba man, before being a Nigerian” .The legal luminary Afe Babalola re-echoed same sentiments a few years ago on a television programme and great Nigerians like late. chief Emeka Odumegwu Ojukwu, the late Oba of Benin, the late Orodje of Okpe, the late Olu of Warri, the late Mukoro Mowoe, the late Obong of Calabar, the late Emir of Kano, the late Tafawa Balewa and the late Ahmadu Bello spoke and conducted themselves in the same vein of ethnicism and ethnocentricity. We are not saying that displaying love, interest and passion for one’s ethnic group is completely wrong, neither are we saying that showing concern for one's culture and religious interest smacks of clogging the dynamic engine of development and unity. We are saying that when ethnicism is put to negative

By Femi Ayelabowo

HESE are particularly trying times for Nigeria, make no mistakes about that. The nation is under constant attacks by a terrorist group, Boko Haram, which has sworn to impose its warped understanding of Islamic law on everybody. The other day, it was in Borno; and now, it is Kano and Damaturu. As body counts continue to rise over the wicked bombing of the Central Mosque in Kano yet again by the merchants of death, so is the justified anger and frustration of the people over the ability of the security agencies to protect them. Yes, when the body bags of innocent citizens, including women and children, cut down in midtrajectory keep piling, it is natural to question the role of government in protecting its citizens. Yet in all the frustrations, can we find the sobriety and good conscience to consider, for once, if President Goodluck Jonathan has been fairly judged and treated in this matter? It is patently mischievous, misleading and incendiary to link the government, let alone accuse it of throwing bombs at its own citizens just to score cheap political points. This is precisely what the statement released by Jama’atu Nasril Islam (NJI), the apex Northern Islamic body, headed by the Sultan of Sokoto, Alhaji Muhammadu Sa’ad Abubakar 11, on the recent bombing of the Kano Mosque, suggested. These are the precise words of Dr. Khalid Abubakar Aliyu, the secretary of JNI at a press conference in Kaduna: “We are indeed shocked and pained beyond words over the news of the bomb blasts in Kano Central Mosque, which claimed the lives of over one hundred innocent Muslims … But must blood be spilled to justify the extension of the state of emergency? Why is it that any time the ineffective state of emergency is about to elapse and or an extension is being sought, attacks are carried out with sophistication?” What the JNI and its political wing in the opposition, the All Progressives Congress (APC) conveniently forgot to tell

We have to re-invent, remodel and re-negotiate our enthnicism and ethnocentricity to reflect our collective national interest use to project and propagate parochial élan above national interest, it becomes retrogressive and mundane. The vast majority of Nigerians claim to belong to their tribe, village, town, wards, local government and state before being Nigerians. This is correct, but to what extent, can it be sustained vis-a –vis the national interest? In Nigeria, elected leaders owe their first responsibility to their constituencies, villages, towns, local governments, wards, etc. This is superficially correct because they are answerable to those who elected them. But who are those answerable to the Nigerian people who have no constituencies by virtue of the fact that the systemic Machiavellianism that is operative does not take due cognizance of their existence.

That is why leaders, especially some state governors have decided to develop their own villages, relations and friends to the detriment of the totality of the state. The inability to draw a line of how ethnicism, should not be used to scuttle national and generic interest remains the greatest clog to our national development. Ethnicism has been glorified as the fundamental objective and directive principle of state policy in Nigeria. It is masqueraded as federalism, patriotism, regionalism and consummate political formula, hence in our bid to balance the leadership pendulum we have resorted to geo-politicizing the political, social-economic and educational landscape. We have for the purpose of sharing power among the six geo-political zones which politicians intend to use in sharing power amongst themselves, that is, political syndicalism, individualism and power cartelism. But can it ever work in the midst of ethnocentricity, greed and corruption. The exclusion of ethnic religious format from the census format must be commended. The geo-political zones are south-south, made up of Akwa-Ibom, Delta, Edo, Cross River, Rivers and Bayelsa states. The South-East made up of Anambra, Abia, Ebonyi, Imo and Enugu states. The South –West geo-political zone is made up of Lagos, Ondo, Osun, Oyo and Ekiti states. The North-Central geopolitical zone is made up of

Jigawa, Kaduna, Kano, Kebbi, Sokoto, Zamfara and Katsina states, etc. But the political algebra and socio-economic calculus shows that one arm of the so-called geopolitical zone will continue to dominate the administrative hierarchy in Nigeria, hence the continuous clamour for power shift in Nigeria? The administrative convenience that we seek will continue to remain an illusive variable and mirage as long as negative ethnicism continues to remain the fundamental mantra of Nigeria’s political class. Let our leaders and the citizens begin to see Nigeria as a nation of one people with one interest that our all-embracing cardinal focus should be our National interest and let it taper down constructively to other areas and not the reverse trend. Let our leaders in every stratum of government begin to see our National interest first and back it up with the accoutrements of patriotism, altruism, Benthamism and Aristotellianism- which is, the pursuit of the greatest good for the largest number. The essayist John Locke calls the National interest the “common good” while Rousseau describes it as the “general will” but the wickedly greedy political class, equates national interest with their own interest. This must stop. We have to re-invent, remodel and renegotiate our enthnicism and ethnocentricity to reflect our collective national interest. •Mr. Gbinije, a social critic wrote from Warri, Delta State.

Boko Haram and APC's changing narrative Nigerians is that, there has been a series organisation headed by the Sultan, which of bombings in the country each time it has been very reticent in condemning the was anticipated that the President, Dr. nefarious and terrorist activities of the Goodluck Jonathan, would want to Boko Haram group for the past three years declare his re-election bid. In fact, a day is now finding its voice. Are there any before the President’s declaration, several fears that the attacks are gradually innocent students were killed by a suicide coming closer to Sokoto? Or, is this part of bomber at Government Comprehensive the APC script to get Jonathan out of power Secondary School, Potiskum in Yobe state. by any means possible? As you might And as has been their script, the APC have known, another Sokoto boy in APC accused President Jonathan of is already spear-heading the insensitivity and callousness for not impeachment of the President in the cancelling the political engagement that House of Representatives, lest Jonathan had long been fixed for that day because wins in 2015 and keeps the North waiting again till 2019. of the Boko Haram attack at What the apex Muslim the Potiskum College. This is organisation in our country, the the same Jonathan who is JNI, may have wittingly or now being accused of unwittingly achieved with its sponsoring Boko Haram incendiary statement is to play attacks on the very people into the hands of the Boko Haram who elected him some three sect. One of the apparent years ago and the same strategies of the group apart from people he is asking to renew the mandate in 2015. If this In spite of terror is to create animosity between Christians and Muslims is a joke, somebody is all their and thus divert their attention definitely taking it too far! and concerted efforts in There is no argument that skills, the confronting what is the common Boko Haram considers any APC enemy of the people. Nobody Nigerian who believes in a should lose sight of the fact that free society a targeted people our soldiers, policemen and enemy. The insurgents have know that women, staff members of the been killing both Muslims Department of State Security and Christians without any the (DSS), hunters and members of discrimination. That said, no association the civilian JTF on daily basis one can contest the fact that put their lives on the line in the more Christians have been of their fight against this insurgency. slain by the murderous party with Many have been killed so far insurgents in their jihadist to protect all of us campaigns. More churches insurgency trying including those fanning the have equally been destroyed embers of insurgency. We cannot in the Northeast. What point is a away all their sacrifices in is being made here? masterstroke throw one feat of anger and bickering. President Jonathan is a If there is anything the Christian. Hey, he is the in the opposition politicians in the APC victim here; not the hands of wish they can achieve as the aggressor! nation inches towards the 2015 It is very unfortunate and PDP general elections, it will certainly intriguing that JNI, an

be to change the narrative of the Boko Haram terrorism in the country. Not a few of our countrymen and women rightly or wrongly believe that there is something about the Boko Haram insurgency that the APC people know about. Not with the fundamentalist antecedents of some of their leaders, and the way they often gloat whenever Boko Haram bombs rip open the entrails and shatter the limbs of Nigerians, by seeing it as another problem for Jonathan to deal with. They are even going about boasting of how they will stop the insurgency once they are elected in 2015. That perhaps explains why the Janjaweed cloth that Olisa Metuh, the spokesperson of the ruling Peoples Democratic Party (PDP) sew for APC has fitted very well. Give it to the opposition; they have been very strong in the media. In fact, the ruling PDP ought to go on apprenticeship in publicity and propaganda at the APC secretariat. Yet, in spite of all their skills, the APC people know that the association of their party with insurgency is a masterstroke in the hands of PDP and they are leaving no stones unturned in order to change the narrative. It all started with, one Steven Davis, a self-appointed Boko Haram “negotiator” who opened his mouth and claimed that the former Chief Army Staff, General Azubuike Ihejirika, who gallantly routed the insurgents and pushed them into the Sambisa forest was one of the main sponsors of Boko Haram. Today, APC is claiming that Jonathan, the man whom its members promised a hellish time as president, is now the sponsor of the same insurgency targeting to bring down his presidency simply because he wants to renew the state of emergency in the three north-east states of Adamawa, Borno and Yobe. C’mon, APC, you can’t spin this! •Mr. Ayelabowo, a commentator on national issues, wrote from Ibadan, Oyo State. C M Y K

20—Vanguard, MONDAY, DECEMBER 8, 2014

OBEL Laureate, Professor Wole Soyinka clocked 80 on July 14th 2014. He is, effectively, one of the surviving fathers of this nation. With his accomplishments in literature and social activism, Soyinka is now at that stage of his life when he should put himself above partisan politics and parochial sentiments. He should be like fellow octogenarian, General Yakubu Gowon, encouraging Nigerians to greater efforts and criticising with a view to correct, rather than turning himself into ammunition in the arsenal of any political party. His latest media outing over the controversial incident at the National Assembly (some call it police “invasion”) refers. Prof. Soyinka carefully chose the venue from which to launch his latest broadside at President Goodluck Jonathan and the Nigerian Police now headed by new Inspector General, Mr. Suleiman Abba: he addressed the media at the Freedom Square, Lagos, the same venue where some sponsored individuals staged five days of “occupy” music festival against the planned removal of fuel subsidy by the federal government from January 1, 2012. Soyinka summed up the National Assembly incident and delivered a damning verdict that President Goodluck Jonathan had become “worse” than biblical King Nebuchadnezzar of ancient Babylon. Nebuchadnezzar is depicted in the Bible as a dark figure who annoyed God with his self-pride at his achievements as the king of the then greatest empire on earth. To teach him (and us all) a lesson, God made him to crawl into the forest and live like a wild animal. An angry Soyinka fumed that the police occupation of the National Assembly was an offence against the people for which Abba should be tried for treason. And since the president allegedly sanctioned it he deserves worse than the fate that was

Soyinka’s anarchy visited on Nebuchadnezzar, perhaps by being driven out of Aso Villa. On the other hand, he was effusive with his praise for the lawmakers who climbed the gate of the National Assembly after failing to physically tear it down, saying: “the act of scaling the gates and walls to fulfill their duty must be set down as their finest hour; they must be applauded, not derided”. Though I am dismayed at Soyinka’s applause for the shameful and dishonourable conduct of the lawmakers who climbed the gate, I am not at surprised. Soyinka, the founder of the Pyrates Confraternity, a secret cult, was only preaching what he has practiced since his youth. One of the incidents that shot him to media limelight was that in 1965 –when he was merely 31 year-old – he invaded the Western Nigeria Broadcasting Service (WNBS) and demanded the cancellation of the Western Nigeria regional election. He was obviously a partisan of the Chief Obafemi Awolowo faction of the Action Group. While this action which Soyinka took in his youth could be adjudged as being brave and heroic, it cannot be compared with the circumstances that led to the scaling of gates by the All Progressives Congress (APC) lawmakers. The day before this incident, the APC had held what they called “salvation rally” at the Eagle Square, Abuja and later went

call

on a street protest. They surprised everyone by going to the headquarters of the Nigerian Police and barricading it. It was on that day that the governor of Rivers State, Rotimi Amaechi, reiterated the APC’s threat that they will form a parallel government if the 2015 elections are rigged. The Police read the auguries, and in their wisdom or folly, decided to secure the National Assembly against the possible security threats. As far as I am concerned, the police was right to take steps to secure the National Assembly if indeed they had security reports warranting such a step. Police has the right to occupy anywhere in this

When the law breaks down, Soyinka and his cohorts know the secret forest routes into exile in Europe and America. It is the common people, who are being incited to anarchy, that will stay here and suffer the consequences

country and maintain law and order. It is their constitutionally bounden duty. I do not agree with those who say because the National Assembly is the office of the federal lawmakers the police have no business being there under any circumstance. However, I agree with those who say that the Police have no business interfering in the lawmaking activities of the legislature. This concept of “hallowed” chambers is terribly overblown. The lawmakers do not have immunity from being subjected to the rule of law when they begin to behave like common hooligans. I also blame the police for mishandling the situation. They should have screened people going into the arena, making sure that only lawmakers were allowed in without any form of discrimination. Perhaps, the way they mishandled the situation gave the impression that there was a hidden agenda to keep out APC lawmakers and give the PDP legislators an unfettered opportunity to impeach Hon. Waziri Tambuwal as Speaker. I can never excuse the police or any law-enforcement agency for carrying out any discriminatory screening of lawmakers. I am still wondering why the police would want to stop Tambuwal and his supporters from joining their colleagues in the chamber. After all, it was President Jonathan who wrote both the President of the Senate, David Mark and the Speaker of the House, Tambuwal, seeking an emergency session of the National Assembly to approve his request for an extension of the state of emergency in the North East. Why would the president, after making such a request bordering on national security – a request seeking the favours of the Speaker and members of the House – send IGP, Abba, to block the gate against the very people who would grant the request? It doesn’t make sense.

Perhaps, the gate-crashing would not have been necessary if the policemen had conducted themselves diligently and professionally. I expected Soyinka, if he sees himself as a statesman, to condemn the police for their unprofessional conduct while berating the lawmakers for acts unbecoming of people called “honourable”. He should have derided their acts of hooliganism, rather than applauded it. Soyinka should know that being a Nobel laureate, people out there like to hear whatever he has to say about things happening in his country, Africa and the world at large. If he continues to make himself the mouthpiece of a political party’s propaganda machine, he risks losing the credibility that goes with being a Nobel Laureate. The very idea of calling President Jonathan “worse than Nebuchadnezzar” is totally out of tune with a president who has allowed the democratic processes to thrive. Soyinka is dressing President Jonathan in robes that were sown for former President Olusegun Obasanjo, who had no respect for democracy, decency and civilised behaviour. It is very ominous for Soyinka to drag newsmen to Freedom Square and say: “the line has been drawn, the people must decide whether to submit or resist”. It is actually a call for anarchy at a time the political temperature is boiling over. It is a refrain of the APC’s threat to form a parallel government if election is “rigged” in a country where every politician who loses election says it was “rigged”. Such a call is dangerous because it is a two-edged sword. It can cut both ways. It may not cut only the target that Soyinka has in mind. When the law breaks down, Soyinka and his cohorts know the secret forest routes into exile in Europe and America. It is the common people, who are being incited to anarchy, that will stay here and suffer the consequences.

OPINION By Dan Amor

OR all it may be worth, the last tirade against President Goodluck Jonathan by former President Olusegun Obasanjo, is certainly one of the salvos intended to weaken the support base of the President as his enemies led by Obasanjo plan to hit him below the belt. But the reactions of Nigerians of varied backgrounds to Obasanjo’s old tricks show that they are no fools. The people’s condemnation of Obasanjo’s hypocrisy has been overwhelming. The first reaction came from no less a personality than the traditional ruler of Lagos, His Majesty Oba Rilwan Akiolu, who said that Obasanjo’s government was the most corrupt in the history of Nigeria. The respected monarch cannot be more correct. Amidst Obasanjo’s catalogue of anti-corruption verbal interventions, the question that now begs for an urgent answer is: Is Obasanjo among the Saints? Due largely to our lamentable short memory, it seems as though we have forgotten so soon about the person of Chief Olusegun Obasanjo and his recent past. But the poor boy from Owu Village in Ogun State was led by fortuitous and opportunistic circumstances to have a rendezvous with history and destiny. Against his will and command, Obasanjo became head of state after the assassination of his boss, General Murtala Muhammed. He was said to have been the man who launched Nigeria into the estranged comity of heavily indebted nations when he took the first ever N1 billion International Monetary Fund, IMF, loan in 1978 when the Nigerian currency was 75 kobo to the United States dollar. C M Y K

Gospel according to St. Obasanjo (1) Moments after Obasanjo left office in 1979, his regime’s pet project, Operation Feed the Nation, OFN, ceased to exist. It was succeeded by the Obasanjo Farms Nigeria. Today, the Ota Farms which was allegedly reduced to zero level by the regime of the late General Sani Abacha, is reputed to be one of the richest privately owned farms in the world. Like a story in a book, Obasanjo was the first President in the world to have issued himself the license to own a private university while still a sitting President. He is the proud owner of Bell University of Technology, Ota. As you read this piece, Obasanjo is the owner of the N12.7 billion Obasanjo Presidential Library at Ota in Ogun State. There is also the Five Star hotel he allegedly completed upon leaving office in 2007. His hilltop mansion a section of which was gutted by fire early last year was built while he was President. Obasanjo was alleged to have bought substantial shares in Transcorp, meaning he is into hospitality, airlines, insurance, agriculture, construction, oil and gas, etc. It was during his administration that a whopping $16 billion was spent to generate darkness for Nigerians for eight miserable years. It is as though Nigerians have forgotten so soon the Ikoyi land deals scandal, the National Poverty Alleviation scandal, the N10 billion presidential jet scandal, the Halliburton bribery scandal and the rest of the jawbreaking, mind-boggling corruption allegations that coloured Obasanjo’s dull Presidency. Here, we are not talking about the N36 trillion generated between 1999 and 2007

under Obasanjo who doubled as Petroleum Minister for seven and a half years. Obasanjo under whose watch prominent Nigerian politicians, including Chief Marshall Harry, Chief A. K. Dikibo, Chief Ogbonnaya Uche, Chief Bola Ige, his Attorney General and Minister of Justice, were assassinated, alleged in his 18-page letter dated December 2, 2013 that Jonathan placed over 1,000 Nigerians on political watch list. According to him, while Jonathan was training snipers and other armed personnel secretly in a location where the late head of state General Abacha also allegedly trained his killers, he was clandestinely acquiring weapons for political purposes. One full year after his vainglorious allegations, Nigerians have not heard of the killing of any of Dr. Jonathan’s sworn enemies, a case of the pot calling the kettle black. In fact, corruption was more pronounced during the Obasanjo years than now. But if Obasanjo did so well in the management of the economy and the war on corruption, why are Nigerians complaining about his years of the locusts? Just as he is doing to Jonathan, Obasanjo rankled the weeping wounds and gangrenes of Nigeria under erstwhile military president General Ibrahim Badamasi Babangida.What did we see when Obasanjo was in the saddle between 1999 and 2007? He increased fuel prices eight times in eight years and sold juicy public enterprises off to himself and his cronies. *Mr. Amor, a public affairs analyst, wrote from Abuja.

DECEMBER 8, 2014

Brent falls close to $69 after Saudi price cut

DINNER - From left, Managing Director/CEO, Bank of Industry (BoI), Mr. Rasheed OlaOluwa, Group MD, Lafarge Nigeria Ltd, Mr. Guillaume Roux, Chief Olusegun Oshunkeye, and Executive Director, Small & Medium Enterprises, Mr. Waheed Olagunju during the annual Presidential Dinner with the Top 100 Businesses/Companies in Nigeria at the Banquet Hall, Presidential Villa, Abuja.

Local rice producers get N1.56bn funds from BoI Ex-minister's farms, mills major beneficiaries By Franklin Alli

he Bank of Industry and other local investors have injected N1.56 billion on two rice mills and farms promoted by the former Minister of Industry/ President Manufacturers Association of Nigeria, Engr. Charles Ugwuh. The 42,000 capacity Tara Rice Mill and its subsidiary 1,200 hectares of rice farm are located at Adani, Uzo Uwani Local Government Area of Enugu state, while the first one is in Abakaliki with a capacity of 30,000metric tonnes; the combined capacity being 72,000 metric tonnes.

BoI Managing Director, Mr Rasheed Olaoluwa justified the financing, saying “This project is very unique in the sense that it is not just a rice mill, he also has a 1,200 hectares of rice settlement and the whole idea is that they plan to increase that to 5,000 hectares, so the sourcing of the paddy that will be required by the rice mill is guaranteed.” He noted that to turn the country from a major importer into a net exporter of rice is part of President Goodluck Jonathan’s Transformation Agenda. “So a lot of things are happening and it is hoped that at the end of the day, Nigeria will significantly reduce

the amount of money spent importing food. Already the expenditure on processed food has reduced from $6.9billion in 2009 to $4.3 billion currently. We believe that in the shortterm, at most medium term, we should be in the position to not only eliminate food importation completely but actually ensure that Nigeria can be a net exporter of food items,” he said. According to Charles Ugwuh, the Tara mill had been tested, fully established and producing rice of high quality with capacity to mill 42,000 tonnes of paddy per year or about 30 tonnes of paddy per day. “The value of the mill at cost is N1.56 Continues on page 22

rent crude fell close to $69 a barrel on Friday, putting it on track for a second weekly decline, as cuts to official selling prices from Saudi Arabia reverberated across the market. Some analysts said the Saudi cuts to monthly prices for crude it sells to the United States and Asia show it is stepping up its battle for market share a week after refusing to support OPEC output cuts. “It’s been weighing on the market, showing that OPEC is not ready to end its price war,” said Commerzbank analyst Eugen Weinberg. “The lower the better seems to be the new paradigm for OPEC.” The January Brent crude contract dropped 53 cents to $69.11 a barrel. U.S. crude was down 55 cents at $66.26. A strong dollar, which recently hit two-year highs versus the euro, is another bearish factor for oil prices, as its strength makes dollar-denominated crude more expensive in other currencies. The battle for market share could intensify next year when Iraq starts to export more oil after Baghdad reached a temporary agreement with the Kurdish regional government. Adding to supply, Libya is set to restart its largest oilfield, El Sharara, once a pipeline blockage is cleared. The combined pressure is preventing Brent from rebounding from a near 13-percent plunge last week. Brent hit a five-year low of $63.72 a barrel last week Monday after averaging around $110 a barrel from 2011 to 2013. But some analysts expect oil prices to rebound in the next two years as the market stabilises following the Continues on page 22 C M Y K

22 — Vanguard, MONDAY, DECEMBER 8, 2014

Cover Story

Vocation & technical education: Key to improving Nigeria’s development (1)

From left Mr Kayode Oluwo, Commercial Planning and Activation Manager, Diageo Brands; Tunji Olugbodi, MD, Verdant Zeal; Olufemi Ashipa, Brand Manager, Coca-Cola Nigeria; Nkiruka Oguadinma, CEO, neomantra and Frank Osodi, Partner, Bunor Creazioni at a ceremony to unveil Eko Akete International Fashion and Design Show logo held in Lagos.

Local rice producers get 1.56bn funds from BoI Continues from page 17 billion out of which BoI has provided N840 million and the local investors ploughed in the rest. There are about 200 people who work here directly and then about 4,000 farmers who contribute the paddy that keeps the mill running. The quality is excellent, Nigeria produces good quality paddy that does not get to stay in the silo for years and so we mill

current paddy that is produced within the locality. We have a very good and nutritious paddy. “Can you imagine what it would be if it were to be 10, 000 hectares producing a huge volume of paddy and massive job opportunities for farmers? This is the way forward for Nigeria and if you do it for 30 or 40 mills scattered across the country, Nigeria will be going forward. If we can increase

the level of paddy production and the quantity of rice that we mill in the country, it will be good for Nigeria. However the major challenge still remains infrastructure,” he said. He commended the state government for having done quite well in the provision of link roads to the farms and mill but added that more can still be done in terms of providing power and water to the mills and farmlands.

LS Scientific introduces filtration tech to Nigerian products market

Nigerian firm, LS Scientific, in conjunction with German-based Haver and Boecker is introducing into the Nigerian powdery products market advanced filtration and particle size analysis technology, which will benefit producers of

detergents, cocoa beverages, sugar, salt, powdered milk, cement, fine sand, cosmetic powder. Producers of powdery products engage in filtration and particle sizing in their daily operations. The company says the new technology will enhance

Brent falls close to $69 after Saudi price cut Continues from page 17 steep losses. Brent will average $82.50 a barrel in 2015 and its premium to U.S. crude will narrow to $4.50 a barrel, the poll showed. The price plunge may put global oil and gas exploration projects worth more than $150 billion on hold next year, potentially curbing supplies by the end of the decade. C M Y K

But lower prices could support global economic growth by boosting consumer purchasing power in the United States, said Jade Fu, investment manager at Heartwood Investment Management in London. “We believe that the expected boost to the U.S. consumer from falling oil prices outweighs the risks to the energy sector,” Fu said. “That’s good news for global growth.”

filtration and particle size analysis and deliver the highest attainable and requisite precision, which is key in the production of granulated and powder products. Filtration basically invloves the use of shakers and seives to make for uniformity in size of particles, which often enhances quality of these products. For example, cement has to be extremely fine to be able to provide optimum adhesive strength when mixed with water to create durable mortar. In the same vein milk and cocoa beverages need to be produced to certain fineness to be able to melt evenly when mixed with water. So when these products are of uneven particle sizes there tends to be inconsistency which comes in the form of lumps in the case of milk and beverages, hence customers translate this into low quality.

echnical education is a the banking sector. Without planned programme of security, development is courses and learning impossible in a society; no experiences that begins with nation can sustain its exploration of career options, democracy if the citizens lack supports basic academic and confidence in the police. The life skills, and enables police violate the citizens’ achievement of high academic human and civil rights and standards, leadership, lack forensic laboratory and preparation for industryfingerprint technicians to defined work, and advanced conduct criminal and continuing education. investigations. And due to Vocational education and poor training, military officers training prepares learners for are known to beat up the careers that are based in citizens who challenge their manual or practical activities, powers and go scot free for traditionally non-academic their inhumane actions. and totally related to a specific The danger posed by trade, occupation or vocation. environmental pollution and In other words, it is an fake drugs is alarming. The “education designed to less educated in the society develop occupational skills.” lack the skill to manage AIDS, Vocational and technical cancer and diabetes among education gives individuals other serious health problems. the skills to “live, learn and One wonders what the work as a productive citizen nation’s health minister and in a global society.” the 36 state health Technical and vocational commissioners are doing to education has been an integral tackle these issues. Every part of national development good citizen is aware that the strategies in many societies neglect of technical and because of its impact on vocational education is productivity and economic socially and economically development. Despite its injurious, because it is robbing contributions the leaders of the nation of the contributions Nigeria have not given this the graduates would make on aspect of education the national development. For attention it deserves, and this that Nigeria is today wearing is one of the reasons for the the toga of a poor state. nation’s underdevelopment. Although technical and This article focuses on the vocational education seem dearth of skilled technical and deficient in ‘citizenship or vocational manpower in leadership training’ (Friedman Nigeria and argues that 1982). It provides students technical and with “life skills to vocational b e c o m e education productive holds the key entrepreneurs as to national it engenders development. creative and Every facet innovative ideas, of the enlarge the economy has economic pie, and been affected increase personal The danger by lack of freedom. Most of posed by s k i l l e d the so-called environmental technicians. “expatriate pollution and The financial engineers” who fake drugs is sector lacks are being paid alarming. The technicians to millions of dollars less educated regulate the to build Nigeria’s in the society banks and to roads and bridges lack the skill to d e v e l o p are graduates of manage AIDS, financial technical and cancer and software to vocational diabetes among properly colleges. Yet the other serious tackle the leaders do not health r i s i n g take technical problems. fraudulent institutions activities in seriously.

Vanguard, MONDAY, DECEMBER 8, 2014 — 23

Readers comment

oday we publish some of the views expressed by those who made comments on some of the articles that appeared on this column.

Readers comment

On the unending woes of the naira,

P Duruoha Ukesons said, "When mismanagement is rift, when only 0.0099% of the population control and hoard the national wealth, when the controlling few do not invest in the people and means of production but build mansions in foreign lands and when there is no saving but embezzle to thy kingdom come, the naira has nowhere to go but down, fall baby fall." Samuel Okezie also wrote to say, "Excellent article, I love polite writers who explain specialist words or concepts they suspect the ordinaries like me wouldn’t know. Thanks for that. However, the article was thin on pragmatic solutions. When crude prices were rising Naira was still depreciating , now crude prices are falling the depreciation persists - the logic is that crude prices is not the major factor in Naira depreciation. We need to look ourselves in the eyes and tell ourselves the truth about the shadow price of the Naira. The CBN blaming speculators and phantom forex demand doesn’t sound entirely plausible. Yes those factors would be contributing to the pressure on the Naira but by how much? The CBN has the resources to embark on a deep understanding of the import needs and the true dollar demand in the economy - if it means getting everyone to the bank before they get the dollars so be it. Any serious importer already has a bank account - let all the forex demand be traceable.

Nigerians

must

search carefully for the next leaders Vincent Nnamani who works at An Entrepreneur said, "Search, did I hear search we can see few, handful ones emerging in the last few years. But our political parties would not and cannot present them." Evangelist Joseph U. Afurobi noted the problem of Nigeria is high level of poverty and deprivation. The country ’s wealth is concentrated on few hands: political office holders, their relatives and sycophants. The country is yet to produce leadership that will sincerely address the issues of monumental corruption, mass unemployment, tribalism, and wicked rulers. Cabals and their family members are milking Nigeria dry. Many of them own refineries abroad. They steal and smuggle the crude oil outside the country. Then, the crude is refined and sent back to us at exorbitant prices. When they are caught, their sons stand for them. And before you know, the case has fizzled out, and they are released. They are the jumbo-sized criminals in the society: unarmed robbers. God Almighty said, as the partridge sits on eggs and hatch them not, so is he that gathers wealth through an unjust means. He shall leave them in the midst of his days, and end up as a fool. Kulie “Nigerians would say that corruption is a problem; some regard dishonest leadership in Nigeria as a serious issue”-true. & Corruption + dishonest contribute to insecurity. Openminded Nigerians may wish to try APC/Buhari for a change. Buhari, a Northern/Muslim/ military man for instance, who

also boast of antiINDISCIPLINE stance is also positioned to help out with Boko Haram & other insecurity issues. He’d most likely be serving with a PDP house that can impeach him if he messes up or be voted out in 4 years. Matthew Chinwike Enyinnah :YES , THEY ARE STILL LOOKING FOR ONE THAT WILL TAKE THEM TO TOTAL ADVANCEMENT OF THE COUNTRY , WITHOUT REGARDS TO RELIGION AND TRIBE ON NATIONAL MATTERS. Enough is Enough: Great Insight, Good write up......where do we go from here ?...Who is the chosen one out of the 5 available today ? ...or the search continue

Think of the alternative before making your choice of leaders RUBBISH: Since 1999 PDP and the suffering has

Cabals and their family members are milking Nigeria dry. Many of them own refineries abroad. They steal and smuggle the crude oil outside the country. Then, the crude is refined and sent back to us at exorbitant prices.

increased. We need a change!!! WE SHALL VOTE OUT JONADAFT. Kulie We know Jonathan & PDP and think we’ve experience Buhari & APC somewhat. Between the Devils we know NOW and the one we knew from distance but not quite sure of, I’ll rather take a ‘ risk’ with the later. Buhari presidency would likely rule with PDP HOUSE anyway-best of both devils. Hence the opportunity cost of such a choice. Moreover, no venture no gain. I also feel an alternative government may satisfy physiological empowerment, ameliorate safety needs (including indiscipline) & improve interpersonal relationship among Nigerians. Whether a candidate belongs to my church or from my backyard doesn’t benefit me. So I’m done with that backyard business. Sadly, PDP will still ‘ win’ under must! BOLUJE Well said. The fact is for now, non of the two dominant parties have much hope of outdoing each other in the listed areas. While PDP is saying Transformation, APC is saying Change. The choice is actually between the devil and the deep blue sea. I for one will rather stick to the devil I know as there is no angel among the other contenders...and you wonder why Nigeria is not progressing. jackson2j4: Well said, for some of us who are non partisan.the whole thing is a complete mess.I am not interested about where the person comes from, which religion he /her practices or from what tribe he/she comes from.I am only interested in that leader who can liberate Nigeria,Jonathan,without sentiment is quite unsuitable for

a complex society like Nigeria, but the real dilemma is who is the alternative? With all sincerity the faces the so called opposition has been presenting as our likely liberators or if you like “navigators” have not succeeded in liberating themselves, how much more to talk of liberating over a hundred and fifty million people. I have said it before I can still repeat it today, I have not seen those saints in APC who are holier than those devils in PDP. We are faced with a real devils alternatives. Ken Okocha, St. Michael Sec. Sch. Ogwashi- Uku, Delta State, said, “There is no credibility in these two parties but we have to use our eye openers to check & check what these people will give even to the commonest Nigerian. The writer has done so well enough by giving us some ideas in politics , demand & the opportunity has made me to choose to vote my own Dr GEJ. Ayomi Arkman- Pilgrims Baptist Grammer School, Issele Uku, DElta State wrote and said, “Good enough, we have had opportunity to x-ray the most likely candidates of the the two feasible parties. The truth is that none of them can meet the conditions spelt out by the writer. However, with a good political atmosphere, Dr. GEJ remains a better option. Gone are the days “Jaguda” style of ruling people with ‘koboko’ and crushing everyone into accepting your command; the world is wiser and could even resist; so old soldier will not be suitable for next president”. Tope said “Nigeria does not need any help, we have resources but those resources have been wasted."

Business & Economy

he Nigerian Deposit Insurance Corporation (NDIC) has assured that Nigerian depositor’s funds are safe in the nation’s banks and other financial institutions, in spite of the uncertainty in global financial system. The Corporation’s Director in charge of its Assets Management Department, Mr Bashir Umar, told journalists in Sokoto that, ‘’ The NDIC is there in case of any failure of the banks and other financial institutions to honor their

Depositors’ funds in banks are safe — NDIC statutory obligations. "Therefore, Nigerians have nothing to worry about as they are in safe hands and the corporation is there to duly regulate bank's activities, as well as help in absorbing any unexpected shocks in the system.’’ Umar further urged Nigerians to continue to have sustained confidence in the

banks and other related financial institutions. The Director said that the Nigeria economy was safe, in spite of the dwindling oil revenue occasioned by its current global market. "Over 90 per cent of the income of Nigeria is dependent on oil revenue, while its price had recently dwindled by about 30

per cent. "Nigeria’s foreign exchange earnings are therefore less now but the nation is not at any financial risk,’’ Umar, assured. He said that the recent adjustment of the value of the Nigerian Naira by the Central Bank of Nigeria ( CBN) from between 155 and N160 to a US dollar to between N165 and

N175 should not cause any panic. Umar explained that the action of the nation’s apex bank was in line with the desire of the Federal Government to make the country ’s economy stronger and resilient.

24 — Vanguard, MONDAY, DECEMBER 8, 2014

C M Y K

Vanguard, MONDAY, DECEMBER 8, 2014 — 25

Business & Economy

German bank earmarks $200m for renewable energy By CHRIS OCHAYI

German Development Bank – KFW has earmarked $200 million to support the development of renewable energy in the country. The leader of the German delegation, Renate Von Bodden who disclosed this at a Binational Commission’s meeting on energy in Abuja, said the credit facility is in form of Green Credit Line. The facility is meant as support base for small and medium enterprises, specifically for the development of renewable energy and energy efficiency projects. She also disclosed that another facility worth •5 million (Euros) has been set aside for technical assistance through the KFW, adding that the German agency is endowed with required experience that will be useful to Nigerians in developing their capacities in renewable energy projects. She expressed satisfaction with the commitment so far exhibited by Nigerian officials, just as she said, that the Germans have been working with the Nigerians on a number

By PROVIDENCE OBUH

WORKSHOP - From left: Tutor, Academy for African Filmmakers, Mrs. Michelle Bello; Team Leader, Group 3, Samson Oklobia receiving an award on behalf of his group , winners of the Academy of African Filmmaking Workshop from Vice- President, Unilever Nigeria Plc, Mr. Robbert Vreede while Program leader, Academy for African Filmmakers Programme, Silva Frey watches at the end of a three-day Workshop and Training organized by Academy for African Filmmakers supported by Unilever Nigeria Plc held at Protea, Leadway Hotel, Maryland, Lagos. of energy related projects. “Nigeria is on track with its vision of providing more of its nationals with electricity”, she added.

concerned it is only issues pertaining to Polio Eradication Programme that is sharing equal attention with the energy sector.

Bodden promised that Germany will continue to support the various energy related initiatives, stressing, that as far as her country is

In his remark earlier, the Minister of Power, Professor Chinedu Nebo, said that “the cooperation between Nigeria and Germany is a good example of

Ajaokuta Steel not moribund, says sole administrator T he Ajaokuta Steel Company Ltd. (ASCL), in Kogi, is not moribund, the Sole Administrator of the firm, Mr Joseph Isah, has said. Isah told the News Agency of Nigeria (NAN) in Ajaokuta that the perception in some quarters that the company was moribund was based on “ misinformation and lack of knowledge about steel production”. He said although the company had been out of production for years, its technical readiness that had already been achieved had not diminished. He also said that preservation of the company’s equipment was constantly being undertaken, insisting that the facilities were largely intact and in good working condition. “Ajaokuta Steel Plant equipment and facilities are robust, rugged and designed with 25 per cent safety factor. Similar plants in Russia and Ukraine have been in operation for over 100 years,” Isah, an engineer, said. He also said that the company had signed a Memorandum of Understanding (MoU) with

We don’t engage in price arrangement — Lafarge

REPROM Company Ltd. which led to the renovation of the Light Section Mill. The sole administrator said that the MoU had also led to the ongoing complete rehabilitation of the company’s Thermal Power Plant

to enable it generate power at its rated capacity of 110 megawatts. He said when fully rehabilitated, the power plant would give the company the opportunity and courage to put other completed units of the steel plant into operation.

NAMB explains non-accessibility of N220bn MSME fund by members

he National Association of Micro Finance Banks (NAMB) has attributed due diligence as reason why many Micro Finance Banks (MFBs) have not accessed the N220 billion Micro Small and Medium Enterprise funds (MSME). The Public Relations Officer of NAMB, Mr Abdel-Rahman Muhammad, made this known in an interview with the News Agency of Nigeria (NAN) in Abuja on Thursday. Muhammad said due diligence was the process taken by the

Central Bank of Nigeria (CBN) to identify and ensure that the intending beneficiary of the fund was genuine. According to him, MFBs have to submit the application of the beneficiary of the fund, including his addresses for proper clarifications before approval by the CBN. He said the CBN wanted to maintain zero-tolerance to defaulters and fraudsters as regards the disbursement of the fund and the step had contributed to the delay.

how we can mutually work together for the benefit of our people”. The minister, who represented by the Permanent Secretary in the Ministry of Power, Amb. Godknows Igali He commended the Germans for the various projects undertaken in Nigeria, as well as their support for the Azura project which has reached advanced stage for fund draw down. He stated further that after the last Bi-national meeting in Berlin, the Germans have approved the 1MW renewable electricity project for the University of Ibadan. This he said, will also create opportunities for research, as he observed that Nigerians are tired of the nuisance created by diesel run generators. The success of this project, he said will be a template upon which, same will be replicated in Universities across the 6 geo-political zones. The Minister also commended the Germans for their intervention in rural development programmes through the provision and access to power for farmers in the rural areas to undertake irrigation activities. On Gas flaring, the Minister assured the Germans that a comprehensive Gas master plan will soon address their concerns adding that Nigeria will appreciate if the Germans are ready to key-in into the nation’s Gas plan.

afarge Cement WAPCO Nigeria Plc has said that price for cement is not dictated by arrangement but demand and supply. The company’s General Manager, Industrial Performance, Mr. Lanre Opakunle, stated this in Lagos during the Totally Concrete West Africa 2014 exhibition organized by Hypenica, an international media group that serve its market by connecting buyers and sellers, sharing information. Fielding questions on the company’s response to drop in the prices of cement by some manufacturers in the industry, Okpakunle said, “For us, the price of cement is dictated by demand, supply and the situation in the market, it is not just about price but about the value you bring to that customer, we work more on the value chain than any other thing. “What I can guarantee is that we respond to the market need, we do not engage in price arrangement, we look at our cost, what is the market, how do we get to our customers,

Mr Biggs takes business to airport

Quick Service Restaurant, Mr Biggs, a brand name under the United African Company, UAC, has taken its business to the E-Wing of the departure lounge of the Muritala Mohammed International Airport. The new restaurant is said to be positioned by a statement to serve the increasing needs of international travellers at the airport. This according to managers of the brand will avail travellers the opportunity to have a fast meal before boarding their flights without hassles. The challenge of getting affordable hygienic meal to cater for the needs of travellers has been resolved by the entrant of Mr Biggs brand at the airport. It’s our always good initiative in response to consumer needs says Mr Derrick Van Houten, the Managing Executive for UAC Restaurants. According to him, “we are very much aware that the yuletide period is setting in with its beehive of activities and the restaurant is set to relieve travellers the stress of having to plan their meals before arriving at the airport.”

26 — Vanguard, MONDAY, DECEMBER 8, 2014

Business & Economy

IoD makes case for institutionalization of corporate governance in business By PROVIDENCE OBUH

he Institute of Directors (IoD) Nigeria has advocated for the need to institutionalise corporate governance in business environment. President/Chairman in Council, IoD Nigeria, Mrs. Eniola Fadayomi, who made the call on the occasion of the Institute’s Members Evening and Induction ceremony of 110 company’s directors into its fold, said that to institutionalise the tenets of sound corporate governance and best practices in the Nigerian business environment cannot be overemphasized. “As a leading professional body championing the cause of corporate governance, we cannot do without a thought on the subject matter,” she said. She enjoined the new directors into IoD not to see the membership as jamboree but a call and admission into being part of a global network of respectful group of people that champion positive changes in the business environment of their organisation and the economy at large. Erstwhile President, IoD, Mr. Chike Nwanze, who spoke on ‘The Importance of Corporate Governance in Company Assessment,’ said that there is a strong correlation between weak board governance and organizational failure and that the effectiveness of the board remains a very important topic within the business community in Nigeria. Nwanze, who is also the Vice Chairman / CEO, Icon Stock Brokers, disclosed that the Nigerian Stock Exchange (NSE) in supporting the entrenchment of corporate governance practice in all quoted companies has introduced a rating system, known as CGRS. He said, “This rating

system participation is mandatory and free to ensure credibility with the fact that companies cannot influence their ratings. Corporate governance rating program is also operational in the stock exchanges in countries such as India, Korea, South Africa and China for their listed companies. “The focus of corporate governance in Nigeria has evolved and the roles of companies are no longer only on stewardship, increase in turnover, liquidity ratio and civic duty. Today, the focus is on compliance with corporate governance code that entails proper management oversight, financial transparency,

involvement of shareholders and stakeholders and community response (social responsibility). “The focus of the future is on strategic performance, the board needs to ensure that it has the right expertise around the table to deal with critical issues of the time. If boards understand their roles and responsibilities, have a proper structure including well-chosen members, exhibit appropriate behaviors, and know what is expected of them, they can live up to the challenges of the future and keep performance of their organizations on track for the good of the nation,” he stated.

ABN Microfinance gets $5 million facility from AfDB

he African Development Bank (AfDB) said that it had approved five million dollars Line of Credit (LoC) to ABN Microfinance Bank Nigeria (ABN) to create 2,500 jobs and empower 1,500 entrepreneurs. A statement by the bank said the amount was equivalent to N840 million. According to the statement, the LoC is to support ABN’s existing and new Small and Medium Enterprise (SME) clients. It said that ABN had a strong line of SME projects seeking funding to expand their business range. “This includes SMEs from various economic sectors, including trade, c o m m e r c e , manufacturing, services, construction and transport. It is expected that ABN will also be able to provide longer tenor loans to its SME clients, thus stimulating the much needed investments in the SME sector,” it said. It said the LoC is expected to benefit 1,500 entrepreneurs over a five-year period of which a sizable part would be for new SME

clients. “Initial estimates suggest that this may contribute to the creation of 2,500 new jobs, in addition to maintaining existing jobs at these enterprises,” the statement said. “Since women and youth constitute important clients at ABN, these will also be important beneficiaries from the AfDB’s LoC. AfDB will also discuss with ABN the possibility of strengthening ABN’s operations through Technical Assistance, thus effectively supporting its further expansion across Nigeria.” AB Microfinance Bank is part of AfDB’s Africa SME Programme to develop and expand its SME financing activities and provide medium- to long-term financing options to local SMEs. The bank in 2013 approved Africa Small and Medium Enterprises (SME) Program for a four-year 125-million dollar funding, combined with a 3.98 million dollars technical assistance package for African Private Sector Assistance (FAPA). “The fund aims at

Vanguard, MONDAY, DECEMBER 8, 2014 — 27

Banking & Finance

Cost of funds hit 30% as scarcity grips interbank Naira, external reserves continue to fall BY BABAJIDE KOMOLAFE

ntense scarcity of funds enveloped the interbank money market last week sending cost of funds a year high of 30 percent. Reflecting the intensity of the scarcity of funds, market liquidity fell to minus N48.23 billion on Friday from N142 billion at the beginning of the week. According to data from the Financial Market Dealers Quote (FMDQ), interest rate on Overnight lending rose by one and half to 30.92 percent on Friday from 11.92 percent the previous week. Interest rate on Secured lending also rose by one and half to 29.17 percent from 11.54 percent. The sharp increase in cost of funds was occasioned by the intense scarcity of funds following the withdrawal of N500 billion for the 500 basis points increase to 20 percent in banks’ cash reserve requirement (CRR) by the

Central Bank of Nigeria (CBN) and huge outflow to fund purchase of foreign exchange through the biweekly Retail Dutch Auction System (RDAS) sessions. Meanwhile, the naira suffered further depreciation in all the segments of the foreign exchange market last week. At the official segment, the naira suffered N3 depreciation as the official exchange rate rose to N168 per dollar from N165 the

previous week. At the interbank market, the naira lost N1.4 against the dollar as the interbank exchange rate rose from N178.7 per dollar the previous week to close the week at N180.1 per dollar. The depreciation of the naira at the interbank market was moderated by the

intervention of the CBN, through special dollar sale during the week, which brought down the interbank rate from N184 on Monday to N178.6 on Wednesday. At the parallel market the Naira suffered heavily against the dollar, Euro and British Pounds. The parallel market exchange rate for the dollar rose to another high of N188 per dollar, from N182 the previous week, indicating N6 depreciation against the dollar. Against the British Pounds, the naira lost N23 naira as N296 exchanged for one Pound, up from N273 the previous week. The naira also lost N11 against the Euro, with as the Euro exchange rate rose to N228 from N217 the previous week. Bureaux De Change (BDC) operators attributed the heavy depreciation of the naira to development in the interbank market. They said the

parallel market depends on dollar sales by banks, hence the rate in the market is determined by the exchange rate at which they dollars from the banks. The decline in the nation’s external reserve persisted last week, as it fell by $360 million to $36.44. Consequently, the external reserve has fallen by $7.13 billion this year, from $43.93 billion at the end of 2013. The persistent decline in external reserve is driven by foreign exchange sales through RDAS and for intervention in the interbank market. Though the apex bank reduced dollar sales through RDAS by 46.9 percent to $459.46 million last week, it however sold undisclosed amount of foreign exchange directly to banks at arrest further depreciation of the naira in the interbank market.

GTBank wins 2014 EFInA award for financial inclusion Guaranty Trust Bank Plc, has continued to consolidate its position as a foremost African brand through outstanding financial performance and product/service innovation. In recognition of the Bank’s efforts in promoting financial inclusion in Nigeria, GTBank emerged winner of the 2014 EFInA award for enhancing access to financial services for Nigerians, especially the low income population and being a leader in facilitating an all-inclusive financial system. Enhancing Financial Innovation & Access (EFInA) is a financial sector development organization that promotes financial inclusion in Nigeria, with the goal to empower millions of unbanked Nigerians in the financial system to become viable economic actors. Receiving the award on behalf of the Bank, Adeola Ogunyemi, Head, Retail Mainland Division, said GTBank has a well-defined financial inclusion strategy which continues to drive innovation of processes, products and

services to ensure that people who are otherwise excluded from the financial sector are included, and are able to bank conveniently and at minimal cost. Guaranty Trust Bank plc has introduced several innovative products and services over the last 6 months in its bid to further consolidate its position as the most service focused and profitable bank in Nigeria. These include the introduction of the mobile banking app; GTBank Mobile App, which is a two in one app that provides customers access to the Bank’s Mobile Banking and Mobile Money offerings.

FG commends UBA over support for transformation agenda By Esther Onyegbula

inister of Interior, Comrade Patrick Abba Moro, has commended the United Bank for Africa (UBA) for supporting the federal government’s transformation agenda as a private sector player. The UBA had donated blocks of toilet facilities to the Nigeria Immigration Service (NIS), Ikoyi Passports Office for the use of passports applicants and staffs of the service. The facility, which was inaugurated by the Minister of Interior, was donated by the bank following the ingenuity of the Passport Control Officer (PCO) in charge of Ikoyi Passport Office, Mrs. Dupe Anyalechi, Deputy Comptroller of Immigration Service. Moro commended the bank for supporting the federal government transformation agenda as a private sector player. According to him, “The Nigerian immigration service (NIS) especially Ikoyi Passport office has adequately keyed into the transformation agenda of President Goodluck

Jonathan transformation agenda especially in the area of attracting the private sectors to partner with government to deliver service to Nigerians. “I recommend this attitude to other formations of the Nigerian service, and I can tell you that the Nigerian restructuring and repositioning is on course and hopefully with the cooperation of all and sundry, the Nigerian Immigration service will soon become a new immigration service for a new Nigeria. “I assure you of immense support, I would try the very best that I can to assist you to discharge your duties." C M Y K

28 — Vanguard, MONDAY, DECEMBER 8, 2014

Banking & Finance

Sweet Sensation, First Bank Launch Firstmonie Payment Solution BY HOPE OFOBIKE

eading Confectionary organisation in Nigeria, Sweet Sensation has gone into partnership with First Bank of Nigeria Plc to offer Firstmonie Payment Solution, the allnew revolutionary mobile payment solution, to its customers. The partnership which was launched in Lagos, Wednesday last week, will make it possible for customers to use Firstmonie in making mobile payment services in any Sweet Sensation outlet in the country. The partnership is the first major collaboration between leading confectionary organisations and the banking industry to provide a first class mobile payment solution to Nigerians. Specifically, Sweet Sensation Customers who sign up to Firstmonie will be able to send and receive money, buy airtime, pay bills and carry out other forms of transaction on their mobile phones without operating a bank account.

Sterling Bank introduces Shopping Dash

hildren with 'I Can Save' accounts with Sterling Bank Plc are in for a full time of fun as the Bank flags off the 'Shopping Dash' programme in four states in the country. The four states are Lagos, Port Harcourt, Enugu and Abuja. The Bank is running the programme in partnership with top Shopping Malls in the country. The programme affords lucky children the opportunity to do a oneminute shopping dash and pick items of their choice at shopping malls selected for the programme. The programme is meant to reward existing I Can Save Accounts holders, an account for children and those willing to open the account during the programme at the stated locations. It is strictly for children between the ages

Hike in CRR heightens competition for cheap funds *As Skye Bank jostles for retail dominance BY BABAJIDE KOMOLAFE

he recent decisions of the Central Bank of Nigeria (CBN) to further tighten money supply have heightened competition for the retail segment of the banking populace and cheap funds in the banking industry. Meanwhile, Skye Bank is leveraging on its expanded branch expansion courtesy of its acquisition for Mainstreet Bank to sharpen its retail strategy and prove its emergence as one of the top four banks in the country. Two weeks ago, in addition to devaluing the naira by 8.4 percent to N168 per dollar, the Monetary Policy Committee (MPC of the CBN reduced the money available for banks to do business with, as it increased the portion of deposit they must keep as cash (Cash Reserve Requirement) to 20 percent from 15 percent. In addition to this, the apex bank increased its benchmark lending rate (Monetary Policy Rate) to 13 percent from 12 percent. Though these moves were aimed at reducing the volume of cash in the banking system and as a result curb the amount of funds that could be used to speculate in the foreign exchange market, however, they imply increase in cost of funds in the banking industry. In addition to leading to withdrawal of N500 billion from banks’ vault, the increase in CRR also means banks can only lend and make money with 80 percent of customers’ deposit. To reduce the impact of this reduction on the interest income, and profitability, banks have to mobiles cheap deposit namely savings account and current account. The key to achieving this lies in expansive branch expansion and quality customer service that would help banks to position themselves to attract more customers to open current and savings account. Already, customers are redefining the agenda – for the first time in as many years, excellent customer service, according to the published Banking Industry Customer Satisfaction Survey

(BICSS) r e s u l t conducted by KPMG in 2013, has replaced financial stability as the primary reason for maintaining banking relationships in the retail a n d corporate segments. According to excerpts of the s u r v e y result, “In the face of evolving

DINNER - From left: Company Secretary, FBN Holdings PLC, Tijjani Borodo; First female Senior Advocate of Nigeria, Chief (Mrs.) Folake Solanke, SAN CON, Chairman/CEO, Omolayole and Associates, Dr. Michael Omolayole at the Society for Corporate Governance Annual President’s Dinner Induction Ceremony in Lagos recently.

customer behavior and expectations, it has become imperative for banks to listen and understand the voice of the customer as input in shaping their strategies”. Findings from more than 14,000 retails, over 3,000 SME and 400 corporate/ commercial banking customers polled in the survey across 18 locations in Nigeria indicate how excellent service and proximity of alternate channels will be a game changer. Insight from the broader survey further reveals that efforts at promoting alternate channels are yielding positive results. It was established that there had been a two-fold increase in adoption of almost all the alternate channels and a further increase in ATM usage. After a slow start, mobile payments appear to be gaining some momentum and should ultimately transform the payments landscape in the country. However, amidst the proliferation of channel options, according to the survey, “customers want banks to remember that convenience should remain a key focus - cash availability at ATMs was the most important issue for retail customers in 14 of the 18 locations covered.” Proximity of branches and ATM with cash availability tops the chart of retail customers’ preference and this is where smart players

are focusing on. A look at the branch network and ATM distribution of the banks operating in the country shows an interesting trend. Size plays a significant role in the fortune and prosperity of any business organization globally. However, this is not stereotyping that size is everything a company needs to survive at all times. For one, it helps organisations to provide services to a wider clientele base compared to medium or small scale organisations who have limited reach. In the Nigerian banking industry, banks that place high premium on serving the public and delighting them also locate branches close to the people to ensure that access to financial services and products is not denied the people. The need to be close to the people has been one of the reasons why banks have been adopting inorganic growth methods over the years. The leading bank in terms of branch network include First Bank leading the pack with 627 branches; followed by Ecobank (610); UBA (549) and Access Bank (366) in that order. Others are Zenith Bank (340); Union Bank (338); and FCMB which has 275. Given the economies of scale which an enlarged Skye Bank would enjoy, financial analysts have described the acquisition as a good one in view of the synergies and advantages that it will bring. One main area that analysts

say the acquisition will have immediate impact is the branch network of the bank. In terms of ATM distribution, the top 6 banks are First Bank with 2,240; followed by Access Bank with 1,206; GTB (1,034); Diamond (689); Zenith (6770 and Skye Bank (609) in that order. Interestingly with the current wave of acquisition in the industry, the dynamics and positioning of banks are set to change in terms of branch network and ATM distribution. Following the acquisition deal, Skye Bank’s branch network jumped to 469, making it the fourth largest bank in terms of branch network in the country. In the opinion of analysts the implication of this sharp growth means that Skye Bank will be better placed to mobilize cheap retail liabilities, reduce cost of funds, and generally serve a larger clientele base. S i m i l a r l y, the accessibility of Skye Bank’s services by customers will be enhanced by the combined number of the Automated Teller Machines (ATMs) of Skye Bank and Mainstreet Bank. For instance, ATM distribution of Skye Bank before the acquisition was 609, ranking 6 th in the i n d u s t r y. The consolidation of the ATMs of Skye Bank and Mainstreet Bank will move the Bank to 4th position with a total of 814 active ATMs.

Vanguard, MONDAY, DECEMBER 8, 2014 — 29

30 â&#x20AC;&#x201D; Vanguard, MONDAY, DECEMBER 8, 2014

Corporate Finance By NKIRUKA NNOROM

op 10 stockbroking firms accounted for 68.51 percent of total value traded in the stock market during the month ended November 28, 2014, data from the Nigerian Stock Exchange, NSE, has shown. According to the data, the top 10 dealing member firms netted N138.19 billion of total transactions carried out in the market during the period, representing 68.51 percent. CSL Stockbrokers Limited crossed shares worth N31.53 billion, which translated to 15.63 percent of the total market value to come top on the list. This was followed by Rencap Securities Nig. Ltd with total transactions worth N23.15 billion, representing 11.48 percent. Stanbic IBTC Stockbrokers trailed behind with transactions valued at N22.51 billion or 11.16 percent of the total market value; FBN Securities closed as the fourth top stockbrking house in the month, accounting N16.16 billion or 8.01 per cent, while Chapel Hill Denham Management closed as the

10 stockbroking firms account for 68.51% of NSE value fifth with transactions worth N13.91 billion, translating to 6.90 per cent. Others were Primera Africa Securities, which traded shares valued at N7.21 billion; Cordos Capital with N7.15 billion value or 3.54 percent; Vetiva Capital, N5.89 billion or 2.92 percent; while Meristem Securities and Apel Asset Limited traded shares valued at N5.67 billion and N4.997 billion respectively to close the list of the top 10 stockbroking firms in the month. On the hand, the top 10 stockbroking firms in terms of volume traded were responsible for 60.94 per cent of shares traded within the same period. Specifically, the firms, which include CSL Stockbrokers, Stanbic IBTC Stockbrokers, Rencap Securities (Nig.), FBN Securities and Readings Investment Ltd among others, accounted for 11.08 billion of the volume traded in the

GRADUATION - From left: Director, Finance, Honeywell Flour Mills Plc, Mr. Ibukun Ojo; a graduand, Miss Roli Okoregbo and Executive Director, Supply Chain, Mr. Rotimi Fadipe, during the 26th Honeywell Baking School Graduation ceremony, in Lagos. month of November. CSL Stockbrokers again emerged the first with 1.05 billion or 10.75 percent of the total volume traded in the market, followed by Stanbic I B T C Stockbroker t h a t accounted for 1.90 billion or 1 0 . 4 7 percent of the market volume. Rencap Securities

(Nig.) Ltd closed as the third on the list with 1.63 billion or 8.96 percent, while FBN Securities and Readings Investment Ltd were the last two with 992.08 million shares and 949.58 million, representing 5.46 percent and 5.22 percent of the total market value respectively. Meanwhile, statistics from the Exchange for the period under review showed that the market capitalisation dropped by N1.18 trillion, closing at N11.404 trillion against N12.579 trillion achieved in October. Similarly, the All-Share

Index lost 3436.94 basis points or 9.04 per cent to close at 34,543.05 as against 37,979.99 posted the previous month, situation market operators attributed the persistent market downturn to uncertainties surrounding the 2015 general elections and exit of foreign investors. A total of 9.08 billion shares worth N100.4 billion were transacted by investors in 93,875 deals as against the 7.02 billion shares valued N73.56 billion traded which changed hands in 85,372 deals in October.

Oando commences rights issue on NSE

he Nigerian Stock Exchange (NSE), has notified all stakeholders that the trading in rights of Oando Plc was reopened from Wednesday, 3 December 2014 to end on Wednesday, 14 January 2015. This decision is subsequent to the Suspension of Trading in Rights that occurred on November 28, 2014. On Monday, 24 November 2014, trading commenced on the Oando rights issue of 2,217,265,184 ordinary shares of 50 kobo each at N22.00 per share. This offer was initially slated to close on Friday, 19 December 2014. Susbequently, however, Vetiva Securities Ltd, the Lead Stockbroker to the Offer, notified the NSE that Oando Plc was yet to obtain a formal clearance of the Offer documents and registration of

the shares from the Securities and Exchange Commission. In reaction to this information, the NSE suspended the rights offer on 28 November 2014. Having received the Commissionâ&#x20AC;&#x2122;s approval to proceeding, the exchanged re-opened trading in rights of the offer on 3 December 2014 to close on Wednesday 14 January 2014. The Nigerian Stock Exchange is committed to promoting just and equitable principles of trade and sound business practices in the Nigerian capital market by enforcing its listing and trading rules in accordance with global best practices and ensuring that the standards set out are effective to maintain a fair and orderly market while protecting investors.

Vanguard, MONDAY, DECEMBER 8, 2014 — 31

Corporate Finance

CIS explains why entertainment industry should seek listing By PETER EGWUATU

he Chartered Institute of Stockbrokers, CIS has explained that entertainment industry requires huge fund for its operations, hence the need for the sector to seek listing on the

Nigerian Stock Exchange, NSE. The President, CIS, Mr. Albert Okumagba said “There is the belief that the entertainment industry has not really benefited from the capital market. The coverage and spread of Nollywood and the Nigerian music industry without any doubt, goes beyond the shores of Nigeria. The popularity and brand

visibility of Nigerian actors and musicians within Africa appear to be unparalleled with any other country ’s within the continent. Hence, if it can access the needed capital that can run a life line in its system, the entertainment industry can be a major export earnings source to the nation.” He emphasized that the capital market has series of

MoU SIGNIING - From left : Second Vice President, Chartered Institute of stockbrokers (CIS) Mr. Dapo Adekoje, First Vice President, Mr Oluwaseyi Abe, Registrar and Chief Executive, Mr Adedeji Ajayi, Chief Executive Officer, Laurel Ventures, Professor Taiwo Asaolu and Administrative Secretary, Laurel Ventures, Miss Funke Durojaye at signing of Memorandum of Understanding (M0U) on Diploma Programme of CIS in Lagos.

GTBank encourages students to save *As Lagos Polytechnic student wins car

student of Lagos State Polytechnic, Adebiyi MariamAjoke, has emerged winner of the grand price of Guaranty Trust Bank ,GTBank Plc’s GTCrea8 savers promo for 2014. She won a mini cooper car in the GTBank’s loyalty reward promo raffle draw which took place on Thursday at the bank’s headquarters in Lagos. The draw was for account holders of its special product, called GTCrea8. GTCrea8, an e-saver product, is targeted at university students across the country. The student could not believe that she won a car as she sounded in low tune when she was called upon on phone by the bank’s official. The GTCrea8 mini cooper promo also rewards undergraduates from different Nigeria tertiary institutions with scholarship monthly. This is in line with the bank’s decision to support education and financial discipline. Miss Shalom Elisha Wigwe, a 400 level Medical student of the University of Lagos was the proud winner of the mini cooper car in the Season 1 of the

GTCrea8 promo leld in 2013. A 200 level student ofAhmadu Bello University, Zaria, Mr. Mohammed Yisa was also rewarded with N1,000,000.00 worthof scholarship for being the five millionth customer of the Bank. The promo, which began in March, 2013, has rewarded account holders with gifts such as Blackberry phones, ipods, laptops, Samsung Galaxy tab, LED Tv and mini fridges in its monthly zonal draws. The bank also organised events on campuses across the six geographical zones in the country where students had the opportunity of winning prizes over the period of the campaign. To qualify for the promo, according to Ibukun Odegbaike, Deputy General Manager, Retail Banking of the bank, students in tertiary institutions were required to open a GTCrea8 e-saver account. In addition, they were also required to conduct a minimum of three transactions per month on alternative banking channels such as Automated Teller Machines, ATMs, Point of Sales , POS and internet banking and also maintain a minimum account balance of N5,000 for six consecutive months.

financial instruments that are available for the entertainment industry to optimize for both practitioners in their personal capacities and also their companies, stressing that the recently concluded conference of the institute had provided the opportunities for entertainers to engage capital market operators. According to Okumagba “We are of the view that the industry has the potential to do more than it is contributing to the nation’s Gross Domestic Product (GDP) at the moment if it is well funded. When asked what were the critical issues raised by the speakers and discussants during the just concluded CIS conference, he said “The most critical issues raised by the discussants and speakers are Lack of regulatory structure in the entertainment industry ; Lack of knowledge on the part of capital market operators ; The entertainment industry is dominated by individuals and not corporate organisations ; Lack of data and poor record keeping by the practitioners in the entertainment industry. ; General misunderstanding of the role of capital market as bank financing was regularly confused with the role of capital market. ; Piracy in entertainment industry. When asked if the operators in the entertainment industry are qualified to access fund from the capital market, Okumagba said “There are still structural issues to be sorted out secondly the operators need also to be transparent in the dealings. They need to start to employ professionals in keeping of the financial records. They should incorporate companies for the businesses and start separating their businesses from themselves. On whether the market is ready to absorb the entertainers against the background of some complaints of the operators’ lack of structure, he said “ Yes, they can be treated on individual basis based on track record and recognition. In fact immediately there is one success story of access to fund through capital market others will follow and the capital market will then dictate the structures they want.

ETI appoints four new directors

cobank Transnational Incorporated (ETI), the Lomé-based parent company of pan-African banking group Ecobank, has announced four new nonexecutive directors on its 15member board, and the retirement of one nonexecutive director. The new board members are Dolika Banda of Zambia, Graham Dempster of South Africa, Sheila Mmbijjewe of Kenya, and Alain Nkontchou of Cameroon. These new board members collectively bring 120 years of experience in banking and finance to the leadership of the world’s largest panAfrican bank.. ETI Board Chairman, Emmanuel Ikazoboh, said: “our Board has been strengthened tremendously by the collective experience of our new members, who join us in our resolve to deliver on our dual objective of making Ecobank a world-class PanAfrican Bank and one that relentlessly contributes to the economic development and financial integration of Africa.” Following the sale of AMCON shares in ETI, Hewett Benson has retired as a non-executive director, representing AMCON on the board.

Learn African to reward student for excellence

earn Africa Plc, a quoted company on the Nigerian Stock Exchange, NSE has concluded plan to reward student who performed well in the NECO Exams. According to a statement signed by both Mr. Toyosi Moronkola, Learn Africa Development Foundation Manager and Mr. Olusegun Akanmu, Assistant General Manager, Publishing, to the Principal of Dority International Secondary School,Aba,Abia State “We write to inform you that the Learn Africa Education Development Foundation, the corporate social responsibility arm of Learn Africa Plc, Nigeria’s foremost learning resource company, has concluded plans to honour a student of yours, Mr Akwataghibe Kelechi Stanley, for emerging as the best candidate at the June/July, 2014 NECO Senior Secondary Certificate Examination in your state. As you might be aware, the awards were instituted in February 2012, to further highlight the importance of excellence in education to our national development.

32 — Vanguard, MONDAY, DECEMBER 8, 2014

MARKET DATA

VM | Monday, December 8, 2014 | Issue 022

VM1

TRADING UPDATE Declined Unchanged Advanced

MARKET REVIEW – NOVEMBER 21 – DECEMBER 05, 2014

SECTOR PRICE CHANGES – NOV 21 – DEC 5, 2014

TOP GAINERS

WTD

TOP GAINERS

WTD

TOP DECLINERS

WTD

MANSARD INSURANCE PLC

18.1

EVANS MEDICAL PLC

9.55

UBA CAPITAL PLC

-11.11

ACADEMY PRESS PLC

13.68

ASHAKA CEMENT PLC

8.37

FBN HOLDINGS PLC

-9.75

7.53

DIAMOND BANK PLC

-9.68

DANGOTE FLOUR MILLS PLC

-9.63

DANGOTE SUGAR REFINERY PLC

-9.61

ROYAL EXCHANGE ASSURANCE PLC

P. Z. INDUSTRIES PLC

11.89

IKEJA HOTEL PLC

9.92

CONTINENTAL REINSURANCE PLC BERGER PAINTS NIGERIA PLC

5.75

LEARN AFRICA PLC

TOP DECLINERS

WTD

NATIONAL SALT COMAPNY NIGERIA PLC

-9.53

VONO PRODUCTS PLC

-9.52

SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD

-9.52

CHAMPION BREWERIES PLC

-8.88

ETERNA PLC

-8.81

Agriculture Conglomerates Construction/Real Estate Consumer Goods Financial Services Healthcare ICT Industrial Goods Natural Resources Oil & Gas Services

3 1 2 14 15 2 2 7 0 4 2

2 3 6 15 32 6 9 12 5 5 10

0 1 1 2 10 2 0 2 0 2 6

DASHBOARD Friday Ticker 7UP ABCTRANS ACCESS AGLEVENT AIICO AIRSERVICE ASHAKACEM BETAGLAS CADBURY CAP CCNN CONOIL CONTINSURE COURTVILLE CUSTODYINS CUTIX DANGCEM DANGFLOUR DANGSUGAR DIAMONDBNK ETERNA ETI FBNH FCMB FIDELITYBK FIDSON FLOURMILL FO GLAXOSMITH GUARANTY GUINNESS HONYFLOUR INTBREW JBERGER LINKASSURE MANSARD MAYBAKER MOBIL MRS NAHCO NASCON NB NEIMETH NEM NESTLE NIGERINS NNFM OANDO OKOMUOIL PAINTCOM PORTPAINT PRESCO PRESTIGE PZ REDSTAREX ROYALEX RTBRISCOE SEPLAT SKYEBANK SOVRENINS STANBIC STERLNBANK TOTAL TRANSCORP UAC-PROP UACN UBA UBCAP UBN UNILEVER UNITYBNK VITAFOAM WAPCO WAPIC WEMABANK ZENITHBANK

Close 152.68 0.60 7.07 1.36 0.82 1.73 24.51 22.05 45.51 36.55 10.99 46.77 1.00 0.50 3.82 1.48 170.00 5.35 6.50 5.60 3.00 17.60 8.98 3.10 1.54 3.40 48.45 218.00 52.00 24.00 149.06 3.16 25.13 57.00 0.50 3.72 1.62 170.00 53.20 4.66 7.13 170.99 0.86 0.63 800.01 0.50 19.00 19.40 27.55 1.46 4.79 26.93 0.50 30.30 4.10 0.56 0.81 361.00 2.50 0.50 30.00 2.39 160.01 3.99 11.00 39.90 4.76 1.60 8.85 35.70 0.50 3.74 78.00 0.63 0.95 18.77

Change, % -1.49% 3.45% -0.56% 0.74% -3.53% 0.00% -0.28% 0.00% 1.13% 0.83% 0.83% 0.00% 4.17% 0.00% 0.26% 0.00% 0.00% -4.97% 2.69% -1.75% -3.85% -1.12% -1.10% 0.32% 1.32% 0.00% 0.00% 1.37% 2.67% 2.30% 0.03% 0.32% -3.35% -1.09% 0.00% -1.85% -4.71% 3.03% 0.00% -1.89% -4.68% 0.29% -8.51% 5.00% 0.00% 0.00% 0.00% 0.00% -5.00% -5.81% -3.23% -4.98% -4.99% -2.15% 9.80% -4.71% -4.50% 3.73% 0.00% 1.32% 1.70% 0.01% 1.27% 0.00% -3.62% -3.05% -4.76% 1.72% 0.56% 0.00% -1.58% 0.62% -3.08% 0.00% -1.78%

5-day Volume

Open

477 1,411 87,922 503 26,453 1,157 19,615 0 2,699 78 407 10 1,550 310 809 200 8,528 193 38,078 47,221 2,714 70,776 707,354 452,531 109,718 1,396 3,747 2,362 336 208,942 2,004 31,899 171 204 13,647 5,514 377 372 0 4,240 4,589 26,878 1,746 5,530 1,129 1,000 4 31,637 8,223 51 187 497 0 218 452 1,100 1,274 176 61,786 50,000 101,215 101,487 29 107,083 305 3,723 167,971 45,057 8,062 6,896 3,912 3,322 11,985 4,895 6,382 181,600

154.20 0.60 7.61 1.30 0.79 1.58 22.00 22.05 44.11 36.10 11.00 46.77 0.93 0.52 4.00 1.50 179.90 5.92 6.58 6.20 3.29 17.52 9.95 3.30 1.60 3.40 50.40 222.00 51.89 25.00 157.99 3.29 26.12 57.63 0.50 3.15 1.70 166.00 53.20 4.80 7.54 172.12 0.94 0.64 860.00 0.50 19.00 20.76 29.99 1.53 5.04 31.74 0.50 28.75 4.04 0.50 0.81 415.00 2.48 0.50 31.00 2.36 158.06 3.90 10.40 44.98 5.13 1.80 8.41 36.28 0.50 3.80 80.00 0.66 0.96 20.70

Change, Week Hi Week Lo Volume % 156.00 149.02 -0.99% 1,629 0.63 0.58 0.00% 4,022 7.70 7.07 -7.10% 322,267 1.36 1.30 4.62% 3,213 0.85 0.78 3.80% 90,796 1.73 1.58 9.49% 2,688 27.09 22.00 11.41% 42,172 23.15 21.00 0.00% 15,408 45.67 43.00 3.17% 6,415 36.55 36.03 1.25% 1,810 11.95 10.80 -0.09% 6,089 46.77 44.44 0.00% 67 1.00 0.90 7.53% 39,090 0.52 0.50 -3.85% 1,993 4.35 3.80 -4.50% 57,173 1.57 1.41 -1.33% 10,986 179.90 165.00 -5.50% 91,337 5.92 5.35 -9.63% 6,610 7.14 6.20 -1.22% 76,394 6.20 5.60 -9.68% 215,922 3.39 2.98 -8.81% 16,618 17.90 17.50 0.46% 453,848 10.50 8.90 -9.75% 2,124,586 3.30 3.00 -6.06% 677,365 1.62 1.52 -3.75% 363,235 3.50 3.35 0.00% 12,882 55.12 45.29 -3.87% 101,570 224.00 209.01 -1.80% 10,378 52.00 49.40 0.21% 2,665 25.50 23.12 -4.00% 1,383,661 158.00 148.09 -5.65% 12,170 3.59 3.14 -3.95% 58,038 26.80 25.01 -3.79% 15,285 58.93 57.00 -1.09% 2,024 0.50 0.50 0.00% 14,662 3.79 3.00 18.10% 148,376 1.72 1.62 -4.71% 3,801 170.00 157.01 2.41% 1,780 53.20 50.54 0.00% 424 4.87 4.56 -2.92% 24,154 7.87 7.11 -5.44% 13,677 174.00 165.11 -0.66% 196,664 0.94 0.86 -8.51% 5,148 0.64 0.60 -1.56% 62,303 920.00 780.25 -6.98% 14,253 0.50 0.50 0.00% 1,694 19.20 18.05 0.00% 28 21.00 18.75 -6.55% 237,777 30.00 27.55 -8.14% 11,892 1.55 1.46 -4.58% 155 5.04 4.79 -4.96% 218 31.74 26.93 -15.15% 10,055 0.50 0.50 0.00% 51 33.56 27.40 5.39% 95,321 4.20 4.00 1.49% 16,050 0.56 0.50 12.00% 6,146 0.89 0.81 0.00% 10,946 420.00 361.00 -13.01% 9,905 2.60 2.37 0.81% 250,772 0.50 0.50 0.00% 51,407 31.00 28.50 -3.23% 748,078 2.44 2.30 1.27% 373,499 163.24 158.06 1.23% 545 4.09 3.63 2.31% 898,747 11.00 10.36 5.77% 6,997 44.98 39.90 -11.29% 64,943 5.62 4.73 -7.21% 814,161 1.83 1.59 -11.11% 166,341 8.85 8.17 5.23% 37,625 36.28 34.11 -1.60% 58,635 0.50 0.50 0.00% 87,969 3.89 3.68 -1.58% 13,631 82.00 76.00 -2.50% 145,867 0.68 0.63 -4.55% 399,080 0.96 0.92 -1.04% 115,394 20.85 18.77 -9.32% 589,059

4-Week Open 128.25 0.62 7.40 1.42 0.80 1.74 22.37 21.30 33.10 38.38 10.99 46.77 0.85 0.50 3.25 1.48 188.53 6.23 4.91 5.31 3.33 16.72 9.25 3.22 1.65 3.12 58.33 175.77 46.55 24.00 160.60 3.31 31.00 63.84 0.50 2.99 1.60 161.98 53.20 4.59 6.96 143.45 0.87 0.65 839.33 0.50 18.10 16.99 29.79 1.52 4.97 24.82 0.50 17.54 4.00 0.55 0.72 508.53 2.39 0.50 26.74 2.19 157.00 3.08 11.41 44.68 4.30 1.53 7.16 28.32 0.50 4.09 76.84 0.58 0.95 20.11

Change, Volume % 19.05% 7,996 -3.23% 67,421 -4.46% 2,101,720 -4.23% 23,452 2.50% 1,953,266 -0.57% 13,849 9.57% 236,176 3.52% 19,205 37.49% 37,442 -4.77% 19,623 0.00% 100,894 0.00% 2,883 17.65% 946,629 0.00% 73,726 17.54% 442,254 0.00% 38,714 -9.83% 460,550 -14.13% 20,565 32.38% 756,375 5.46% 1,748,347 -9.91% 133,516 5.26% 1,443,852 -2.92% 8,571,107 -3.73% 3,779,482 -6.67% 1,101,204 8.97% 72,600 -16.94% 346,885 24.03% 61,898 11.71% 42,461 0.00% 4,260,193 -7.19% 81,717 -4.53% 146,425 -18.94% 51,353 -10.71% 15,750 0.00% 17,177 24.41% 1,774,369 1.25% 54,483 4.95% 13,298 0.00% 988 1.53% 116,227 2.44% 222,303 19.20% 768,231 -1.15% 58,849 -3.08% 563,761 -4.68% 52,722 0.00% 8,549 4.97% 1,243 14.18% 1,949,222 -7.52% 76,776 -3.95% 10,895 -3.62% 33,244 8.50% 88,044 0.00% 7,562 72.75% 365,067 2.50% 39,203 1.82% 60,550 12.50% 64,643 -29.01% 55,084 4.60% 1,085,058 0.00% 57,426 12.19% 1,019,008 9.13% 2,872,891 1.92% 5,815 29.55% 4,382,643 -3.59% 64,238 -10.70% 169,279 10.70% 4,880,675 4.58% 426,961 23.60% 255,855 26.06% 266,795 0.00% 219,437 -8.56% 122,892 1.51% 598,532 8.62% 922,373 0.00% 653,232 -6.66% 6,279,616

5-Week trading1

52-Week price range Low 69.00 0.57 7.00 1.24 0.74 1.56 13.87 14.43 33.10 35.96 8.00 44.36 0.85 0.50 1.86 1.34 161.59 5.35 4.91 5.24 2.87 12.40 8.90 3.00 1.52 2.21 41.51 78.51 46.55 22.61 148.09 3.01 23.14 56.55 0.50 1.96 1.33 111.72 41.84 4.38 6.62 140.00 0.83 0.57 780.25 0.50 18.00 13.18 25.00 1.33 4.00 24.82 0.50 16.60 3.80 0.50 0.60 361.00 2.28 0.50 19.00 2.09 146.26 2.98 10.36 39.90 4.00 1.47 6.48 27.00 0.50 3.54 70.00 0.56 0.85 18.77

Close ( )

High

YtD

197.94 113.75% 0.97 -23.25% 10.18 -26.35% 1.86 -16.56% 0.97 -10.87% 3.97 -48.36% 34.60 12.02% 23.15 52.81% 110.00 -53.17% 51.00 -23.82% 15.98 -8.34% 79.51 -23.73% 1.29 -16.67% 0.89 -23.08% 4.35 75.23% 2.27 -24.10% 250.02 -21.35% 10.76 -47.70% 12.49 -42.48% 8.20 -25.33% 5.73 -36.58% 20.28 7.38% 16.52 -44.91% 4.64 -19.27% 2.86 -42.96% 3.72 23.64% 83.64 -40.78% 259.94 134.74% 74.97 -25.71% 31.80 -13.51% 260.00 -36.84% 4.50 -17.92% 32.20 -11.26% 76.45 -9.63% 0.50 0.00% 3.79 48.80% 2.64 -36.47% 182.00 46.55% 70.00 2.86% 6.46 -26.61% 15.10 -51.99% 189.00 3.62% 2.08 -21.82% 0.97 -22.22% 1,200.33 -32.32% 0.54 0.00% 23.16 -13.68% 36.89 -27.42% 45.85 -38.55% 2.04 -25.13% 6.19 -8.76% 49.00 -30.95% 0.81 -20.63% 41.06 -18.10% 5.35 -3.53% 0.69 3.70% 1.49 -42.55% 735.00 -40.31% 4.67 -44.57% 0.50 0.00% 35.00 34.29% 2.74 -4.40% 195.50 -7.67% 7.08 -8.06% 21.31 -28.46% 67.85 -28.74% 9.60 -47.98% 3.04 -29.52% 10.89 -7.91% 61.00 -32.64% 0.55 0.00% 5.70 -22.25% 136.73 -32.17% 1.48 -44.25% 1.40 -25.78% 27.40 -24.92%

EPS

34.24 3.00 4.50 5.82 5.39 3.30 30.75 6.85 28.81 21.56 9.73 14.75 6.25 4.64 7.42 14.41

4.46 0.21 1.57 0.23 0.15 0.50 0.80 3.38 1.57 1.67 1.12 3.34 0.16 0.11 0.24 0.19 11.80

7.78 3.39 4.92 4.80 4.16 3.53 2.27 14.12 14.33 48.35 17.34 7.35 18.92 9.29 41.25 9.00 12.57 24.33 18.00 15.81 53.85 14.35 6.78 32.65

0.81 1.65 0.61 3.67 2.16 0.88 0.68 0.24 3.38 4.63 3.00 3.27 7.88 0.34 0.63 6.74 0.04 0.15 0.09 10.44 1.04 0.32 1.05 5.24

27.76

28.82

17.40 12.27 4.37 8.42 3.38

1.11 2.29 0.35 0.60 8.38

23.80 6.54 5.59

1.34 0.61 0.10

2.99 3.36 15.61 3.81 12.55 45.47 4.82 18.67 2.80 5.52 47.34 25.55 4.65 5.48

0.84 0.15 1.92 0.63 12.91 0.09 2.20 2.14 1.70 0.29 0.19 1.37 0.11 0.71

9.00

0.07

5.42

3.46

Liquidity Rating2

LEGEND 1

5-week trading bar: This bar shows the volume of the company’s shares traded during the 5 most recent weeks. Each alternate colour bar represents a consecutive week. The bar is to be read from left to right. The first bar on the left (light blue) represents the traded volume five weeks ago. The next bar (grey) represents the volume 4 weeks ago. The 5th and last bar (light blue) signifies the volume of shares exchanged last week. The purpose of the Weekly Trading bar is to give readers an instant view of trading volumes as they compare on a week-by-week basis.

C M Y K

Liquidity Rating: This indicates the level of demand for a company’s shares based on the number of deals rather than volume done over the past week. Stocks are graded according 5 categories. Blue spheres are used to represent liquidity. t Category 5: This is the highest liquidity rating shown by 5 blue spheres. Stocks that have traded more than 20 deals per day on at least 4 days in the past week are awarded this score t Category 4: This is shown by 4 blue spheres. It indicates that the stock has

traded between 12 to 19 deals per day on at least 4 days in the past week t Category 3: Shown with 3 spheres, this liquidity classification represents those stocks that have traded 8 to 11 deals per day on at least 4 days in the past week t Category 2: Shown with 2 spheres it identifies those stocks that traded 4 to 7 deals per day on at least 4 days in the past week t Category 1: This is shown by one blue sphere to represent stocks on which 3 deals and/or below were traded per day on at least 4 days in the week.

Vanguard, MONDAY, DECEMBER 8, 2014 — 33

VM2

MARKET DATA

VM | Monday, December 8, 2014 | Issue 022

MARKET SNAPSHOT 3-MONTH PRICE TREND OF BELLWETHER STOCKS

ACCESS

7.07 0.54

7.00 -2.53 -26.35%

YtD

PE 4.50

10.18 3M

-2.28 -24.39%

-0.54 -7.10%

01/12

Sep

Oct

Nov

CONTINSURE 0.85 -0.20 -16.67%

YtD

PE 6.25 0.07 7.53%

01/12

Sep

Oct

Nov

FCMB -0.74 -19.27%

YtD

-1.16 -27.23%

-0.20 -6.06%

01/12

Sep

Oct

GUARANTY 22.61 3M

PE 7.35 -1.00 -4.00%

01/12

Sep

Oct

Nov

MANSARD 1.22 48.80%

YtD

1.22 48.80%

0.57 18.10%

01/12

Sep

Oct

OANDO -7.33 -27.42%

-6.45 -24.95%

-1.36 -6.55%

01/12

Sep

Oct

Nov

-9.90 -5.50%

Oct

Nov

FIDELITYBK 1.52 -1.16 -42.96%

YtD

-0.42 -21.43%

PE 2.27 -0.06 -3.75%

01/12

Sep

Oct

GUINNESS 148.09 3M

PE 18.92 -8.93 -5.65%

01/12

Sep

Oct

MOBIL

182.00 54.00 46.55%

-4.00 -2.30%

4.00 2.41%

01/12

Sep

Oct

OKOMUOIL 25.00 3M

PE 12.27 -2.44 -8.14%

01/12

Sep

Oct

Nov

5.24 3M

PE 3.39

01/12

Sep

Oct

FLOURMILL 41.51 3M

PE 14.33 -1.95 -3.87%

01/12

Sep

Oct

Nov

HONYFLOUR 3.01 -0.69 -17.92%

YtD

PE 9.29 -0.13 -3.95%

01/12

Sep

Oct

Nov

NASCON -7.72 -51.99%

YtD

-2.35 -24.79%

-0.41 -5.44%

01/12

Sep

Oct

PRESCO -12.07 -30.95%

-10.06 -27.20%

-4.81 -15.15%

01/12

Sep

Oct

Nov

Oct

FO 3M

-2.00 -0.91%

Oct

INTBREW -3.19 -11.26%

-3.38 -11.86%

-0.99 -3.79%

01/12

Sep

Oct

189.00 5.98 3.62%

-5.11 -2.90%

-1.13 -0.66%

01/12

Sep

Oct

Nov

-6.70 -18.10%

YtD

-4.60 -13.18%

01/12

Sep

Oct

Nov

Oct

1.55 5.39%

-10.70 -17.07%

0.11 0.21%

01/12

Sep

Oct

Nov

JBERGER

-6.00 -9.52%

-0.63 -1.09%

01/12

Sep

Oct

Nov

NESTLE

1200.33 -381.99 -32.32%

05/12

M T W T

-224.94 -21.95%

PE 27.76 -59.99 -6.98%

01/12

Sep

Oct

Nov

SEPLAT YtD

05/12

M T W T

PE --

735.00 -318.88 -46.90%

-54.00 -13.01%

01/12

Sep

361.00 54.00

361.00 -243.80 -40.31%

800.01 59.99

780.25 YtD

PE 9.00

76.45 -6.07 -9.63%

05/12

M T W T

57.00 0.63

56.55 YtD

PE 17.34

74.97 -18.00 -25.71%

05/12

M T W T

52.00 0.11

46.55

05/12

M T W T

-0.97 -9.75%

Nov

GLAXOSMITH

PE 23.80

41.06

05/12

M T W T

30.30 1.55

16.60

-6.02 -40.13%

01/12

Sep

YtD

PE 4.16

16.52 -7.32 -44.91%

YtD

05/12

M T W T

8.98 0.97

8.90

PE 32.65

Nov

05/12

M T W T

170.99 1.13

140.00 YtD

Nov

Oct

FBNH

PE 41.25

32.20

-0.01 -0.09%

05/12

M T W T

25.13 0.99

23.14 YtD

Nov

05/12

M T W T

-4.00 -1.80%

01/12

Sep

-3.10 -22.00%

01/12

Sep

PE 48.35

-1.00 -8.34%

YtD

PE 9.73

15.98

05/12

M T W T

259.94 125.13 134.74%

YtD

Nov

218.00 4.00

78.51

PE 3.38

49.00

0.08 0.46%

01/12

Sep

10.99 0.01

8.00

PE 4.80

05/12

M T W T

26.93 4.81

24.82 YtD

Nov

-0.26 -1.46%

CCNN

05/12

M T W T

20.28 1.21 7.38%

YtD

Nov

17.60 0.08

12.40

PE 6.78

15.10

0.45 1.25%

05/12

M T W T

7.13 0.41

6.62

Oct

ETI

3.16 0.13 -0.99 -23.86%

-2.45 -6.28%

05/12

M T W T

4.50

01/12

Sep

48.45 1.95 -16.26 -25.13%

-11.43 -23.82%

YtD

PE 21.56

51.00

05/12

M T W T

83.64 -33.37 -40.78%

YtD

Nov

05/12

M T W T

-0.60 -9.68%

36.55 0.45

35.96

5.60 0.60 -0.57 -9.24%

CAP

05/12

M T W T

8.20 -1.90 -25.33%

YtD

27.55 2.44 -6.70 -19.56%

Nov

05/12

M T W T

45.85 -17.28 -38.55%

YtD

Nov

Oct

DIAMONDBNK

PE 15.81

1.40 3.17%

05/12

M T W T

170.00 4.00

111.72 YtD

Nov

-8.54 -15.80%

PE 28.81

01/12

Sep

149.06 8.93 -31.94 -17.65%

05/12

M T W T

260.00 -86.95 -36.84%

YtD

Nov

-51.67 -53.17%

YtD

1.54 0.06 2.86

110.00

05/12

M T W T

05/12

M T W T

PE 14.41

01/12

Sep

PE 17.40

36.89

45.51 1.40

33.10

170.00 9.90 -55.01 -24.45%

CADBURY

05/12

M T W T

250.02 -46.16 -21.35%

YtD

Nov

05/12

M T W T

19.40 1.36

13.18 YtD

Nov

DANGCEM

PE 24.33

3.79

2.51 11.41%

05/12

M T W T

3.72 0.57

1.96

Oct

161.59

24.00 1.00 -5.82 -19.52%

-8.18 -25.02%

05/12

M T W T

31.80 -3.75 -13.51%

YtD

Nov

PE 30.75

01/12

Sep

PE 3.53

4.64

05/12

M T W T

3.10 0.20

3.00

24.51 2.51 34.60

2.63 12.02%

YtD

1.00 0.07 0.01 1.01%

13.87

05/12

M T W T

1.29

ASHAKACEM

Oct

Nov

05/12

M T W T

LEGEND

STANBIC

30.00 1.00

19.00 YtD

PE 15.61

35.00 7.66 34.29%

-0.01 -0.03%

01/12

Sep

Oct

Nov

UBA -4.39 -47.98%

-2.51 -34.53%

146.26

195.50 -13.29 -7.67%

YtD

-13.00 -7.51%

-0.37 -7.21%

PE 12.55 1.95 1.23%

01/12

Sep

PE 2.80

9.60

160.01 1.95

05/12

M T W T

4.76 0.37

4.00 YtD

-1.00 -3.23%

TOTAL

Oct

UNILEVER 27.00 3M

PE 25.55

39.90

-0.58 -1.60%

PE 18.67

67.85 -16.09 -28.74%

YtD

-18.70 -31.91%

01/12

Sep

35.70 0.58 -11.45 -24.28%

39.90 5.08

05/12

M T W T

61.00 -17.30 -32.64%

YtD

Nov

UACN

Oct

WAPCO

136.73 -37.00 -32.17%

-39.00 -33.33%

11.00 0.60

10.36 YtD

-4.21 -27.68%

01/12

Sep

PE 0.00 -2.00 -2.50%

PE 4.82

21.31 -4.38 -28.46%

05/12

M T W T

78.00 2.00

70.00 YtD

Nov

-5.08 -11.29%

UAC-PROP

Oct

ZENITHBANK 18.77 3M

05/12

M T W T

18.77 1.93 PE 5.42

27.40 -6.23 -24.92%

YtD

Nov

0.60 5.77%

-5.48 -22.60%

-1.93 -9.32%

1. 52-week low price 2. Year low price 3. Current price 4. Year high price 5. 52-week high price 6. Current price 7. 5-day price change 8. PE ratio 9. 1-year price change 10. 3-months price change 11. 1-week price change 12. Daily price movement over 3 months. 13. 30-day moving average 14. Daily price movement over last week

1 2 TICKER

19.23 1YtD

25.23 0.018

0.23 0.92%

2.90 12.99%

01/12

Oct

Nov

05/12

M T W T

01/12

Sep

Oct

Nov

05/12

M T W T

01/12

Sep

Oct

Nov

05/12

M T W T

01/12

Sep

Oct

Nov

05/12

M T W T

7 0.01

0.04%

Sep

PE 7.29

27.406

11 14

13 May

21/07

June

July

25/07

M T W T

34 —Vanguard, MONDAY, DECEMBER 8, 2014

Insurance

Oshin charges insurers to embrace change By ROSEMARY ONUOHA

anaging Director of Custodian & Allied Insurance Plc, Mr. Wole Oshin has charged insurance operators to change the stereotype ways with which they run the insurance business and embrace innovation. Oshin who was the

keynote speaker at the 2014 Champion Insurance day luncheon in Lagos last week stated that with the way things are going, if insurers don’t embrace change, the sector will be forced to go down. Oshin said that insurance operators should consider combining businesses to create companies that

are viable and strong which will register in the minds of Nigerians. Oshin said, “The insurance sector has a naturally set of boring products and there is a quiet revolution creeping in, in the form of the internet which can be termed a destructive innovation if not tapped into positively. As such, the population of people

that will buy our products are on the internet. So we need to prepare ground because if we don’t embrace the change, it will not augur well for the sector. “Technology is a distorter and could be a real threat to the existence of the insurance sector because history has shown that sometimes IT companies come to destroy other sectors e.g., music industry, bookshop industry. In such cases, technology can be said to be a destructive

element. So we the insurance operators need to redefine our industry before any destructive element tears us down,” Oshin said. According to him, insurance players need to change the ways they do things, even as he stressed that size and

PEFON inducts over 100 professionals By FAVOUR NNABUGWU

rofessional E x c e l l e n c e Foundation of Nigeria, PEFON, a network organisation that assembles old and new professionals from all spheres of the economy, has so far inducted over 100 professionals in Abuja and Lagos. Founder of PEFON, former Commissioner for Insurance, Dr Oladipo Bailey during the induction ceremony of 23 professionals in Abuja recently, lamented dearth of professionals in both the private and public sectors as the major cause of rot in the country. Some of the 23 professionals inducted in Abuja include former Director-General of the West African Insurance Institute, WAII, Prof Prince Mike Ikupolati and Mr. Ladi Owolabi of Mutual Benefit Assurance Bailey, in an interview with Vanguard in Abuja said PEFON is concerned about the need to gather all genuine professionals including insurance, bankers, engineers, ICT, etc in order to put heads together to see how to explore their wealth of experiences to bear and encourage aspiring youths that yearn for professionalism. He said there is severe shortage of manpower in the country, noting that there is need for a comprehensive education policy that will help address the skill gaps in the country. To achieve this, he said the association, intends to grant scholarship to assist the C M Y K

capacity of operators are critical. Oshin said that with the rebased Gross Domestic Product, GDP, of the Nigerian economy, foreign investors are flocking into the market because they see opportunity where many Nigerians do not see it.

young ones who have the required skills to study and become professionally qualified. On the funding of the scholarship, Bailey said the company organisation intends to raise funds from professionals and willing companies in the near future that will enable it grant scholarship to p r o s p e c t i v e professionals. He said, “If professionals in various sectors of the economy are allowed to address economic problems such as the decline in oil revenue, as well as the pressures facing the Naira in the foreign exchange market, the impact would be minimal on ordinary Nigerians. “We have a lot of things to do to enhance professionalism in this country. So many of our young ones are roaming the streets without jobs, so many of them are having jobs not commensurate with the kind of work they are doing. “That is why we are bringing men and women in this country on individual basis to this foundation. We currently have more than 100 men and women who are at the highest level of their professions.” Bailey believed the country is endowed with so much potential to explore but regretted the absence of skills of young minds to match the pace of this growth. He said there is a need to create an entrepreneurial class that will take away the burden of job creation from the government. He said, “PENFON plans to increase its membership across the country.

Vanguard, MONDAY, DECEMBER 8, 2014 — 35

Homes & Housing Finance

FG approves NMRC’s plan to raise N50bn bond Stories by YINKA KOLAWOLE

he Federal Government has approved plans by the Nigeria Mortgage Refinance Company (NMRC) to raise N50 billion from the capital market through periodic issuance of Federal Government guaranteed bonds to institutional investors. Minister of Finance & Coordinating Minister of the Economy, Dr. (Mrs.) Ngozi Okonjo-Iweala, disclosed this in a keynote address at a Housing Stakeholders Consultative Workshop held in Abuja last week. The minister recalled that “the NMRC was launched on January 16, 2014 by President Jonathan as a PPP initiative with private sector mortgage lenders to encourage and promote home ownership by Nigerians and unlock the socio-economic potentials of the housing sector in Nigeria. It is essentially a refinancing mechanism, which provides mortgage lenders with access to increased liquidity and long term finance, enabling them provide 20-year mortgages at affordable rates to borrowers.” She noted that the establishment of NMRC was supported by a World Bank/ IDA credit of $250 million at zero interest, 40-year period and 10 years grace, and 0.7 per cent commitment charge, to be disbursed in six tranches as Tier 2 capital. “NMRC has also so far raised N7.05 billion shareholders capital but will raise additional funds in the

capital market through the periodic issuance of Federal Government guaranteed bonds to the tune of N50 billion to institutional investors, with the overall target of $5 billion in bond issuances in the medium term,” she added. Meanwhile, Okonjo-Iweala said the Federal Government has concluded arrangements to promote national building standards in the country in collaboration with private developers. On building standardisation and the process of certification of building, she noted that though a detailed National Building Code has been

developed for the country, a matching set of building standards has not yet evolved. “Through the new Nigeria Land, Housing and Urban Development Roadmap, the Federal Government will promote national building standards in collaboration with private developers to enhance the implementation of the NMRC visions. An efficient and effective building certification process is key to promoting sustainable houses and housing delivery as well as effective mortgage administration. So too is a building inspection process as a prelude to certification.

It is important that we generate a building inspection through to certification process that is more amenable to rapid delivery of quality homes. “Minimum standards for residential or commercial builds must be set below which no developer or builder worth his money will not go. This must be backed by some form of legislative teeth to the point where buildings must be duly certified before they are deemed mortgageable. It is an imperative requirement to avoid the occurrence of building failures and subsequent collapse,” she stated.

he Chartered Institute of Bankers of Nigeria (CIBN) has called on the Federal Government to facilitate urgent review the Land Use Act in a bid to increase access to mortgage financing in the country. President/Chairman of Council, CIBN, Mrs Debola Osibogun, made the call when she led a delegation of the Institute to meet with President Goodluck Jonathan. She lamented the high level of bureaucracy hindering the facilitation of mortgage financing in the country. “It is pertinent to note that the requirement that all

esort Savings & Loans Plc said it has funded the development of over 4000 housing units across the country in the last couple of years. Managing Director/Chief Executive Officer of the bank, Mr.Abimbola Olayinka, said in a statement that the bank will continue to pursue the goal of addressing the housing needs of Nigerians. “Our vision is to provide affordable and decent accommodations to Nigerians. We are not relenting in this drive. We want to be at the vanguard of solving the accommodation problem in Nigeria,” the statement said. Olayinka expressed the willingness of the bank to ensuring that more Nigerians have access to affordable housing through provision of additional housing units with the backing of Nigeria Mortgage Refinance Company (NMRC). According to him, “the bank will continue to create more awareness on NMRC mortgage. We believe an increase in awareness will increase the patronage of our mortgage refinancing through banks.”

Ogun unveils Mitros City housing project AWARD - From Left : Nigeria Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina; President/CE, Dangote Industries Limited, Aliko Dangote; Chairman, CMA Investment Holding, Rakesh Wahi and Vice President, CMA Investment Holdings, Sid Wahi at the 2014 “Forbes Africa Person of the Year” award bestowed on Dangote in Kenya

Mortgage financing: CIBN urges review of Land Use Act

Resort Savings finances 4,000 housing units

alienation (inclusive of the creation of legal and equitable mortgages) requires the Governor’s Consent, has given rise to a bureaucratic process that is characterised by delays and high fees. Banks are reluctant to grant loans that are secured solely by property given the perceived time period it takes to secure such loans with the attendant high costs of documentation”. Osibogun further sought the intervention of government in addressing the high cost of doing business in Nigeria which impairs the ability of financial institutions (Deposit Money Banks in particular) in

providing long term financing to critical sectors for economic development. She also said there is need to address the overall high cost of governance at all levels of government which reduces the volume of investible funds available to the banks for onlending to the prime sectors of the economy. “We also need to address the erroneous public impression that banks are making huge profits at the expense of other sectors of the economy without an empirical comparison with their peers in other countries. Similarly, the multiplicity of taxes, levies and charges by various

government agencies at all levels has continued to hamper business operations. Underpinning the above, is the need to guarantee the safety of life and property, this is why the Institute identifies with government’s efforts at routing out all forms of terrorism and insecurity. A strategic address of some of the issues raised above, coupled with a secured business environment will impact positively on a sustainable banking business and development of our economy,” she added.

gun State government is set to commence the development of an ambitious housing project, known as Mitros City, to be built on the outskirts of Lagos. Special Adviser to Ogun State Governor on Housing, Segun Abiodun, said due to the proximity of the project to Lagos, it is expected to address the problem associated with the rising population and also decongest its traffic. He noted that there are too many unplanned towns in the city that are not structured in terms of development. “What we intend to do is take the bull by the horn and say enough of slums or residential neighbourhoods developing by default. The truth of the matter is that these neighbourhoods will develop whether we like it or not so it’s best when we are able to control that development,” she said.

36 — Vanguard, MONDAY, DECEMBER 8, 2014

C M Y K

Vanguard, MONDAY, DECEMBER 8, 2014 — 37

Tax Matters

Taxation of contract and direct labour procurement of ministries, departments and agencies (MDAs) of government in Nigeria. (2) By ANUYA, F. O. (Ph.D) F I N A N C I A L REGULATION, EXTANT CIRCULARS AND PUBLIC PROCUREMENT The Nigerian Financial Regulations, 2009, stipulates that:i. Government contracts are made in accordance with the ordinary law of contract through offer by one party and acceptance by the other. ii. The Public Procurement Act, 2007(PPA) provides detailed requirements and guidelines for procurement contracts in respect of goods and services in the public sector i.e. Ministries, extraMinisterial offices, other arms of Government iii. (A) The Public Procurement Act applies to all procurements made by the following Federal Government Agencies, viz:(a) All Ministries, extraMinisterial offices, other arms of Government; and (b) All agencies of Government that derive at least 35% of their operational funds through appropriation from the Consolidated Revenue Fund. (B) The Act does not apply to procurements of special goods, works and services involving national security unless the express approval of the President has been first sought and obtained. iv. All procurement contracts by all Ministries, extraMinisterial offices, and other arms of Government shall be executed in a manner that shall be prescribed and allowed by the Bureau for Public Procurements. v. All bidders in a contract for public procurement must show proof of eligibility for the award of the contract. They must prove the following amongst others, viz:(a) They possess the necessary technical qualification (b) They possess the machinery, equipment and manpower for the job; (c) They have the legal capacity to enter into the contract i.e. they are not under a receivership nor are they insolvent; (d) They are not tax evaders; and (e) None of their directors has been convicted in respect of any offence! Crime involving fraud, financial misappropriation or falsification of records. vi. Persons who have been involved in the preparation of procurement proceedings shall

CONFERENCE - From left: Ndubuisi Ogbata-Uwaze, Vice-President, Association of Registered Insurance Agents of Nigeria; Faith Ughowode, CEO, Almond Productions and ARIAN Reporter of the year and Olamerun Gbadebo, National President, ARIAN during the 5th Annual National Conference, AGM and Award Ceremony held in Lagos. not qualify to bid for the procurement either as a main contractor or sub-contractor. vii. Advances of NonPersonal character shall be authorized by the Minister of Finance, except advances created under the authority of Financial Regulation 2524 or advances of up to N50,000.00 approved by the Accounting Officer. Applications for NonPersonal Advance must state the reason for the advance, the method of clearance and the person to be held responsible for clearing the advance. viii. In the disbursement of funds for Non-Personal Advance for project/Special Programmes, the leader of the project/Special programmes shall’ be the Accounting Officer and shall approve all payments, while an Accountant of an appropriate grade shall be attached to each project/ special programmes and have responsibility for the disbursements as well as retirements of the Non-Personal Advances. By the content of Accountant General for the Federation’s circular on the operation of year 2009 General imprest warrant, the following became applicable: i. All Accounting Officers in the three arms of Government, including Ministries, extraMinisterial offices and Agencies, are now authorized to approve funds to eligible imprest holders. ii. The limit of reimbursable imprests shall be as follows: DESIGNATION OF IMPREST HOLDER LIMIT OF REIMBURSABLE IMPREST N

MINISTER 300,000.00 PERMANENT SECRETARY/ DIRECTOR GENERAL 200,000.00 D I R E C T O R 100,000.00 HEAD OF UNIT OR BRANCH IN STATES OR ANY OTHER IMPREST HOLDER 60,000.00 -

HON.

iii. The frequency of reimbursement of any standing imprest shall normally be once in a quarter and shall not exceed twice in a quarter where the need arises. iv. All Accounting Officers and Officers controlling expenditure are to ensure that

A deduction made from any payment shall not be regarded as an additional cost of the contract to be in the contract price but as Tax due on the payment.

all local procurement of stores and services costing above N200,000.00 shall be made only through award of contracts. SOURCE DEDUCTIONS AND THE NIGERIAN TAX LAWS By the content of FIRS Circular No 9801 of 1998, it is now explicit that all types of contract payment, whether on oral or written contract will attract Tax deduction. Where, for example, there is a written contractual sale of goods or materials by Government or a trading concern to another, the payment for the transaction will be subject to withholding tax at 5%. Similarly, where there is no written contract but through an arrangement, a Government or company places an order for purchase from another company, such a transaction must also attract withholding tax at 5%. Therefore, on the whole, it must be understood that as long as a contract can be read into the actions of two or more persons or companies/ enterprises, such transaction must attract withholding tax at 5%. The Federal Inland Revenue Service Establishment Act 2007 in:i. Section 25 (2) states that: The Service may, with the approval of the Minister by Instrument published in the Federal Gazette, appoint any Government Agency to collect revenue pursuant to the power of the Service under subsection (1) of this section. ii. Section 24 states that the Accountant-General of the Federation shall have power to deduct at source, from the

budgetary allocation, unremitted taxes due from any Ministry or Government Agency and shall not later than 30 days therefore transfer such deductions to the Service. iii. Section 40 of FIRS Establishment Act 2007 provides that; Any person who is being obliged to deduct any tax under this Act or the taxes listed in the First Schedule to this Act, but fails to deduct, or having deducted fails to pay to the Service within 30 days from the date the amount was deducted or duty to deduct arose, commits an offence and shall, upon conviction, be liable to pay the tax withheld or not remitted in addition to a penalty of 10 per cent of the tax not remitted per annum and interest at the prevailing Central Bank of Nigeria Rediscount rate and imprisonment for a period of not more than three years. By the provision of the Companies Income Tax [Rates etc, of Tax Deduction at Source (Withholding Tax)] Regulations of 1995 i. Persons qualified to deduct Tax at source include body, corporate, and unincorporated, a Government Ministry, Department and Agency, a local Government, a Statutory body, a public authority and any other Institution, Organization, Establishment and Enterprises which operates Pay-As-You-Earn scheme. ii. A deduction made from any payment shall not be regarded as an additional cost of the contract to be in the contract price but as Tax due on the payment. iii. A person who deducts tax from a payment shall, when the payment is credited or paid, whichever is earlier, submit to the relevant officer of the Federal Inland Revenue Service, the evidence of remittance made to the designated branch of the collecting bank of the Tax deducted. iv. Payments from which tax is to be deducted and the rate as follows:WHT RATE FOR COMPANIES WHT RATE FOR INDIVIDUAL Dividend, interest & Rent 10% 10% R o y a l t i e s 15% 15% Commissions, Consultancy, Technical & Mgt 10% 5% C o n s t r u c t i o n 5% 5% Contract of Supplies 5% 5% Director ’ Fees 10% 10% C M Y K

38 — Vanguard, MONDAY,DECEMBER 8 , 2014

“Were it left to me to decide whether we should have a government without newspapers, or, newspapers without government, I should not hesitate a moment to prefer the latter.” Thomas Jefferson, 1743-1826. (VANGUARD BOOK OF QUOTATIONS p 200). Devaluation of the currency, brought about mostly by the lack of foresight of the Minister of Finance, and Coordinating Minister for the Economy, CME, will savage all business sectors in Nigeria. As the price of crude oil slides further away, downwards, from the $78 per barrel, on which the original budget, now discarded, and the second one based on $73, now in the dust bin, were based, the outlook becomes bleaker for everybody in Nigeria. The CME can no longer be relied on to provide a reasonable guide to what has become a murky future for Nigerian businesses – mega, large, medium, small or micro. Everybody is suddenly at risk. This series will address, truthfully, what the prospects for many sectors of the Nigerian economy can expect.

Consequencies of devaluation for your sector – Print media (1) This unlike the official propaganda, designed to capture votes in 2015, will explain why those operating in the sector should expect what is hereby projected. Because charity should ordinarily begin at home, permit me to start with the print media – my own primary sector. And, perhaps, it is better to also begin with the conclusion – which is depressing. The current devaluation and the domino effect it will spurn will result in the disappearance of many newspaper and magazine titles from the news stands. In fact, if it had been part of the Transformation Agenda of the Jonathan administration, to reduce the number of print media titles, it could not have succeeded more marvelously. Already, several newspapers and magazines are hanging on an economic thread that is so fragile it can be likened to the equivalent of a cobweb.

The devaluation of currency will inevitably lead to the breaking point. The reasons are easy to explain. The eight per cent official devaluation of the currency, coupled with the one per cent increase in CBN’s rates, will, at the end of the cycle, result in more than twenty per cent

If it had been part of the Transformation Agenda of the Jonathan administration, to reduce the number of print media titles, it could not have succeeded more marvelously.

increase in prices. Bearing in mind, that every first devaluation unavoidably results in inflation spiral, it is unlikely that the eight per cent will remain the official position. Indeed, two days after the CBN’s announcement global crude prices dived below the $73 per barrel proposed by the Ministry of Finance. Furthermore, the meeting of the Organisation of Petroleum Exporting Countries, OPEC, ended without an agreement to cut supplies. As a matter of fact, any agreement to cut back supplies would not have been beneficial to Nigeria – given the reduced volume the country already supplies. Failure to agree to limit supplies merely compounds our problems. It means that the oil glut, responsible for depressing prices will continue – and perhaps get worse.

Print media houses, collectively and individually, face at least fort per cent increase in the cost of production – whose components include raw materials, interest rates, duties paid, increased expenditure on power (all DISCOs will start applying a new tariff from December 1, 2014) and VAT. As if that is not enough, they will soon have to confront their staff demanding salary increases, while at the same time they will find it difficult to increase cover charge. Finally, hard copy circulation, which was about 420,000, for the leading titles in 2008, will decline further as more consumers, savaged by the downturn, stop buying papers. Print media stakeholders will long live to remember this period as one of their darkest hours.

Micro-Finance Business education key to micro, small business – Creative Focus Stories by PROVIDENCE OBUH

reative Focus Africa (CFA) initiative, aimed at promoting business intelligence has identified business education as a key to sustaining micro and small businesses in Nigeria. The initiative is a business exhibition designed and targeted at micro and small businesses to promote business intelligence among them and a special vehicle powered by Urban Dice Design, a company that represents creativity, productivity and progress. Over 30 Micro and Small businesses in the country, penultimate week, came together to showcase their products, especially C M Y K

made from locally sourced materials at a five day exhibition put together by the CFA. Speaking at the event, Chief Executive, Czar Cadara, Engineering Business Firm, Mr. Zuberu Kadiri, said that over 90 percent of small businesses in Nigeria die within the first five years, adding, “Small businesses are the future and the backbone of every successful economy all over the world.” To this end, he said that plans are underway to set up knowledge centre where it would train businesses monthly and give them business model from time to time. Kadiri who is also a consultant of CFA, said, “Business education is the most important need of micro and small businesses anywhere in the world. There are small businesses with

great products but because they lack the right business education, many of them cannot track and measure their progress.” Participants at the exhibition includes: Yelloseesee Uwaoma Regular Biro Abstract Artist; Oremi Craft makers of locally sourced handcrafted bags and accessories; Bubbles and Scents makers of nature soap body cream, scrub, shampoo and perfume, among others. NYSC small business owners were not left out in the exhibition. However, Ms. O m o w u n m i Imoukhuede, is the Founder of Creative Focus, Mrs. Alero King, Managing Partner, Berry Blossom Events and Styles, is the head of CFA event planning team.

EXHIBITION - Omowunmi Imoukhuede, founder, Creative Focus Africa (3rd left); Mrs. Alero King, Event Planner, Berry Blossom Event and Style (2nd right) with some Exhibitors and Technical support partners during the 2014 Creative Focus Africa Exhibition powered by Urban Dice designs held in Lagos

AMfB bags award for deepening financial inclusion

ccion Microfinance Bank (AMfB) has won the 2014 Enhancing Financial Innovation and Access (EFInA) Award for deepening financial inclusion in the microfinance category. The announcement was made at the EFInA Financial Inclusion Conference which took place in Lagos, weekend. Several banks and financial institutions were selected for the award but the organization with enhanced access to financial services for Nigerians, especially the low income population and that acts as a leader in promoting financial

inclusion in Nigeria received the award. Assessment was made in six areas including Customer Impact, Reach to Un-served and Underserved Segments, Scale, Financial Inclusion Strategy, Learning and Consumer Protection. Speaking on the award, MD/CEO, AMfB, Ms Bunmi Lawson, said, “We are pleased to win the EFInA award and will continue to deliver excellence in the microfinance sector as we expand across Nigeria providing sustainable financial services to people at the bottom of pyramid.”

Vanguard, MONDAY, DECEMBER 8, 2014 — 39

Aviation

We'll enforce implementation of all air crash reports

By LAWANI MIKAIRU

The Minister of Aviation, Chief Osita Chidoka last week fielded questions from selected Aviation reporters after meeting with senior management staff of the aviation parastatals under his ministry at the Murtala Muhammed Airport, Lagos. He spoke about his plans for the Aviation Ministry. Excerpts: You have hinted that the aviation industry would now contribute more to the coffers of the federal government. What plans do you have to improve the revenue generation of the agencies ? We have setup a committee to review airport charges, both aeronautical and passenger charges in Nigeria to be sure that they are in line with regional pricing. Because of our goal to be a regional hub, we must make sure that we don’t price ourselves out of the market and we must make sure that there is no waste in the agencies. We have to ensure that they are not taking the resources that are coming and spending it within the agencies. So, we identified that there is need to review the charges of our agencies and enhance their revenue generation ability. We believe that the agencies should be able to remit to the federation account as stipulated by the fiscal responsibility act, 25 per cent of their gross earnings when we identify what those gross earnings are and make sure that they remit it to the federal government. Because the federal government has invested in the airport and it should be able to get benefits from that investment Our airports are rated low both in Africa and in the world. What plans do you have to improve airport infrastructure and provide better services to passengers? It cannot be done within the institutional frame work that we have, no matter how brilliant the new ideas are, we have to review what has happened to be sure that you are not reinventing the will. That said; one of the key things that I observed and evidence has shown is that our aviation industry is a very low contributor to our national GDP. Aviation industry in other countries contributes in the double digits to their GDP, but in Nigeria it is 0.4 per cent to the GDP. We also decided to find out from our passengers how they feel about Nigerian airports. We contracted a polling company to question the passengers and the result we got from them is that most of our airports are under performing. They ranked most

— CHIDOKA of our airports below average, I think only MMA2 (domestic terminal, Lagos airport) came out with a 3.2 score out of 5. And we believe that only two airports among those they surveyed scored up to 2.7 and 2.6 the rest were below 2.5. This is a customer perception index to find out what the customers think. We also conducted a survey on what was the major problem for passengers. And we find out that it was waiting time at the airports; not the wait time to go through security but the bulk of the wait time is delays by airlines. So we figured there must be a way for us to improve turnaround times for our airlines. We also surveyed our airports and tried to see our connectivity from Nigeria to other countries. And we find out that compared to two major airports, Oliver Thambo in South Africa, Kenya and Ethiopia, Nigeria is poorly connected to the world. We do not have any direct flight between Nigeria, and the South-East Asia economies and China which are the major drivers for economic growth in the world today. The bulk of the passengers emanating from Nigeria on the Middle Eastern lines are heading to China. And we thought that, that was a minus for us so we identified poor connectivity as an issue. But we saw that a lot of transformation has occurred in the remodeling of the airports, we have increased capacity, we have built up on open door opportunity for better passenger processing. We have remodeled our airports from the antic nature to very modern beautiful airports. And we have spent considerable resources making our airports good. And again we also believe that after all these remodeling we must put in the context of the larger master plan of what our hopes and aspirations are as a nation. So, going forward, we have decided that first we are going to do a master plan for Nigerian airports that would contain econometric studies of traffic patterns, land use in our

airports and make sure that nobody will willfully violate the land use plans and the zoning in our airports. Secondly, we found out that no Nigerian airport occurs in the 10 airports in Africa as widely reported by the media. No Nigerian airport occurs in the top 20 and no Nigeria airline occurs in this. And part for the reason for this is that we even found out that no Nigerian airport is certified by the International Civil Aviation Organisation (ICAO) standards. So we have given ourselves a target that by mid2015 we at least certify two airport by ICAO standards in Nigeria preferable Lagos and Abuja and then we will follow through with Kano and Enugu, the international hubs so that we meet ICAO standard. And after that certification we hope that Nigerian airports will at least come into the first 20 airports by the next ranking in Africa by Skytrax and other agencies that do that. So we have set definite time line and target. Nigeria has been recording accidents, they would be investigated and nothing is heard about the investigations

We do not have any direct flight between Nigeria, and the South-East Asia economies and China which are the major drivers for economic growth in the world today

and recommendations made are not implemented. Do you intend to do anything about this? We have setup two committees. The first committee is to review all air crash (accidents) reports in Nigeria and find out how many recommendations were made by these reports, how much of these recommendations were implemented. After we do the gap analysis, we are going to enforce the implementation of all the recommendations to avert future occurrence of these crashes in Nigeria. We are aware of the staff audit that is going on. Many of the agencies are understaffed. For example, there is inadequate staff in security and other departments of the Federal Airports Authority of Nigeria (FAAN). Do you intend to recruit the needed skills in these agencies? The World Bank had conducted a study earlier about institutional strengthening. We have identified the challenges of our organisations and we are going to try to reverse the trends that are not good within them. We are going to improve the recruitment of professionals and technical staff in our key operational agencies as opposed to administrative staff to ensure that we have a 60-40 balance in favour of technical staff in our agencies. And hopefully to push it up until we get to 70-30. A situation where 80 per cent of the staff are administering 20 per cent is not good for the industry. We also noticed that there is a problem with capacity building and most of the people we have in NCAA, airworthiness people are experienced people and many of them are retiring but we don’t have the younger ones to takeover. So, we have put in place a system to make sure that we don’t only attract and retain those young ones but that we make sure they go through the experiences that would allow them practice as regulators. Because of all the problems we

saw with airlines, we have come up with a web portal that we will be commissioning on the 8th of December in Abuja. This web portal will contain real time data on airlines, schedule times and pick up times. And would show passengers the historical number of hours of delays on each route by every airline so that passengers can make an informed choice about which airline they will choose to fly and we will publish monthly reports about the level of service in terms of timings by the airlines. This portal will also contain opportunity for people to make applications for certain function of the Ministry, including the request to import aircraft. We are asking people to submit that request online and we will give them 24 hours to get a response. We are also launching an initiative called Aviation Commits. The Aviation Commits initiatives which will also include the media will require contribution of all key stakeholders in the industry, we will look at their customer oriented functions and commit them to a minimum level of service of which we will have a warden to ensure that the airlines obey. For instance, a commit that you must not delay your planes for more than 30, 40 minutes if you delay more than one hour, you will give passengers either rebate in the next flight they board or you will agree with them how much compensation to pay for the staff for delaying them above the threshold. Same thing with NAMA, NCAA, if you apply for landing permit and you don’t get a response in 24 hours, you consider it approved. And we will hold that officer responsible who didn’t issue the permit. So we are ensuring that every customer oriented function is time bound. As a steward that person takes responsibility for ensuring that that service is delivered. And every month we will publish the entire request we receive on this website and we let the media to report on those who haven’t carried out their functions as agreed. C M Y K

40 — Vanguard, MONDAY, DECEMBER 8, 2014

E- Commerce

Barcelos to launch e-kitchen, targets 10,000 sampling BY KELECHI AZUBUIKE

ARCELOS, a fast food company, has concluded plans to commission an ekitchen service under one of her brands, Tribes, so as to increase its visibility in the industry. Briefing newsmen in Lagos, the Managing Director Mr. Saheed Johnson said the commissioning will be done on the 13th of December, adding, “There will also be a soup tasting event on that 13th of December from 9 am – 9 pm. I look forward to feeding Ten thousand people. There will be no problem in trying to satisfy everybody. We are also expecting that people will register and get a free bowl of soup. It’s not just for people to come and watch, it is for them to have a taste of what it is we are offering at our new service.” “We want to be able to get people to order food for themselves and their families online and we get it delivered to them. You can even use your smart phones because there would be an application provided for customers to download to their smart phones for quick ordering or they go straight to the web site to make their order and within few minutes it’ll be delivered to you or you’ll come to Barcelos to pick it up. That’s the benefit of our

MTN, Tastee Fried Chicken launch meal vouchers

TN Nigeria has e x t e n d e d partnership with Tastee Fried Chicken, TFC, with the launch of meal vouchers to increase its retail footprints and provide its products and services at all TFC outlets nationwide. With the launch of the MTN-Tastee meal vouchers, customers can top up their air time, purchase data bundles and renew blackberry subscriptions whilst purchasing mouthwatering meals in a relaxed atmosphere at any of the 13 outlets of Tastee Fried Chicken nationwide. MTN products and services (airtime and SIM cards for now) will be sold and dispensed from TFCs payment till. What it means is that customers can walk into TFC outlets in Lagos and buy TFC products as well as MTN airtime and SIM card. C M Y K

his year, between 27th and 28th of November, the Nigerian retail market, championed by the online retailers, joined their counterparts all over world, especially the United States to celebrate the shopping event, Black Friday. The day, unlike any other days, saw massive discounts of most products by major online retailers in the country. Before the day, there had been massive publicity campaigns by some of these retailers including some banks and payment processors joining the fray of wooing consumers and trying to educate them on what the day is and how they can utilise it to meet their shopping needs. What black Friday means Black Friday, according to Wikipedia is the Friday following Thanksgiving Day in the United States (the fourth Thursday of November). Since the early 2000s, it has been regarded as the beginning of the Christmas shopping season in the US, and most major retailers open very early and offer promotional sales. The term Black Friday, had acquired a modified broader meaning since inception in the late 19th century. It has also come to mean that, since retailers traditionally operated at a financial loss (“in the red”) from January through November, “Black Friday” indicates the point at which retailers begin to turn a profit, or “in the black”. For Nigeria, since it does not have any cultural links with the US Thanksgiving, one would argue that there is little need or meaning for Black Friday in its retail context but with technology breaking cultural barriers, Black Friday has taken on a new meaning and has found much significance for players in the retail sector. A look at this year’s Black Friday sales In the US, the home of Black Friday, it was reported that $50.9 billion was spent during the 4-day Black Friday weekend while approximately 133 million U.S. consumers shopped during the same period. In Nigeria however, there is no accurate way of measuring the level of participation but Jumia reported over a million visits to its website on that day alone. Konga.com on the other hand, who dubbed its own Black Friday sale, ‘Yakata’ gave a more detailed overview of the after sales results. According to the retailer, it was processing N50 million worth of orders every hour,

SYMPOSIUM – From left: Mr. Moyo Ajekigbe, Vice Chair, NLI Board, Mr. Yinka Oyinlola, CEO Nigeria Leadership Initiative, Ms Evelyn Oputu, Former MD, Bank of Industry and Dr. Christopher Kolade at the 6th Christopher Kolade Symposium held in Lagos.

Black Friday: How trend can reshape retail market in Nigeria BY JONAH NWOKPOKU as the sales alone amounted to almost 100, 000 items. It also noted that, “Over 40 percent of the people who shopped within the period had never bought online before and that “a significant part of Konga’s orders were generated from mobile devices.” In a statement, Konga’s founder/CEO, Sim Shagaya said Konga sold 500 per cent more items within the period than it did in all of 2012 when Konga entered the market. In an infographics of their sales made available to journalists, the retailer said, it recorded 1,659 orders in an hour at the peak of the sales while generating over N600 million in sales, about $3.5 million. It also generated over

N200 million, about $1.2 million in revenue for merchants who sell on the Konga platform on that same day. How retail market can leverage Black Friday Despite Nigeria’s two major online retailers, Jumia.com and Konga.com making significant efforts at popularising Black Friday in Nigeria, over the past two years, making a huge success of the shopping event, how can the retail market in general take advantage of the trend? Analysts and industry watchers believe players in the retail market have a lot to learn from the operations of these online retailers. They argue that they have to take a cue from the way they handle their logistics; from sourcing to supply to

customers service to delivery. They added that in a fragmented and unstructured retail market like Nigeria’s, significant efforts at a better organisation and structured retailing could also help. Black Friday has always been around although in such a fragmented manner. What the retailers at the Carter Bridge and Idumota do with ‘Banjo’ auction is a perfect example. The Okirika sellers at Onitsha selling their wares, ‘two for a penny’ are another example. But with a huge and unbridled appetite of consumers in the country, and the market a hugely import dependent and consumption based, the coast is large enough for any retail player who is willing to key into the strategic innovations of the Black Friday trend.

Heritage Bank launches PortaPOS to drive e-payment BY PROVIDENCE OBUH

eritage Banking (HB) Company Limited has introduced “PortaPOS”, a portable Point of Sales (POS) solution that will address payment challenges within the retail space. PortaPOS is a payment channel that performs the functions of an electronic point of sale terminal, its implementation allows services and sales industries to conduct financial transactions, receive payments and provide value added services via a specialised app on their mobile phones, which in turn helps to improve customers experience.

Speaking at the PortaPOS launch in Lagos, Executive Director, Manila Banking, HB, Mr. Niyi Adeseun, said that the Nigerian retail and corporate market is undergoing a massive transformation in a battle for digital consumers who shop through a variety of channels, and as such expect a more integrated payment experience that is quick, seamless, convenient, and most importantly secure. “Today, small businesses and large retailers are turning to mobile point of sale (or mPOS) to increase sales and broaden their customer base. Existing large retailers are also adopting mobile POS solutions and integrating

them into their current point of sales environment to enhance payment methods. “Any Smartphone or tablet is compatible with the Heritage PortaPOS, via a free downloadable app. It is also cost effective, allowing a small business owner to conduct transactions and receive payments without having to invest in an electronic register or pay support licenses for software. Additionally, the solution is also extendable to cater for inventory management requirements of the merchant, so our customers can truly have a mobile business,” he said.

Vanguard, MONDAY, DECEMBER 8, 2014 — 41

E- Commerce

Stock market: Investors lose N434bn in one week By PETER EGWUATU

nvestors in the Nigerian capital market have continued to experience losses in their investment as the Nigerian Stock Exchange, NSE market capitalisation dipped by 3.81 per cent, indicating a drop of N434 billion in one week. Specifically, the stock market capitalisation closed last week at N10.970 trillion from N11. 404 trillion it closed penultimate week. The loss recorded by investors in the Nigerian stock market had been attributed to the continuous fall in oil prices, the recent devaluation of the naira, and demand for naira for yuletide by local investors. The implication for the dwindling stock prices has also led to the repatriation of funds by

foreign investors following the dumping of their shares on the NSE. In similar vein, another stock market gauge, the NSE All Share Index nosedived by the same 3.81 per cent to close at 33,228.29 points from 34,543.05 points recorded penultimate week. A review of the stocks prices last week showed that Twentysix (26) equities appreciated in price during the week lower than fifty-one (51) equities of the penultimate week. Forty-nine (49) equities depreciated in price higher than twenty (20) equities of the preceding week, while one hundred and twenty-two (122) equities remained unchanged lower than one hundred and twenty-six (126) recorded in the penultimate week. Meanwhile, a turnover of 1.526 billion shares worth

N24.992 billion in 21,344 deals were traded last week by investors on the floor of NSE in contrast to a total of 2.092 billion shares valued at N28.234 billion that exchanged hands penultimate week in 22,865 deals. The Financial Services Industry (measured by volume) led the activity chart with 1.177 billion shares valued at N14.232 billion traded in 12,082 deals; thus contributing 77.13% and 56.95% to the total equity turnover volume and value respectively. The

Conglomerates Industry followed with a turnover of 96.730 million shares worth N618.352 million in 1,211 deals. The third place was occupied by the Consumer Goods Industry with 88.039 million shares worth N5.919 billion in 3,568 deals. Trading in the Top three equities namely- FBN Holdings Plc, Ecobank Transnational Incorporation Plc and Guaranty Trust Bank Plc (measured by volume) accounted for 560.299 million shares worth N9.388 billion in 5,218 deals, contributing 36.71% and 37.56% to the total

equity turnover volume and value respectively. On the Exchange Traded Product s, ETPs a total of 10,886 units of ETPs valued at N1.652 million executed in 24 deals compared with a total of 9.058 million units valued at N99.755 million transacted last week in 31 deals. On retail bonds, a total of 9,250 units of FGN bonds valued at N10.345 million were executed in 4 deals compared with a total of 202 units valued at N219, 549.85 transacted penultimate week in a deal.

Shareholders approve NB, Consolidated Breweries merger BY PETER EGWUATU

he Boards of Directors of Nigerian Breweries Plc and Consolidated Breweries Plc , weekend confirmed the receipt of approvals from their shareholders to combine both companies by way of a scheme of merger. The shareholder approvals were obtained at two separate Court Ordered Meetings which were held in Lagos on 4 December 2014. In a joint statement signed by Mr. Nico Vervelde (Managing Director/ CEO of Nigerian Breweries Plc) and Mr. Boudewijn Haarsma (Managing Director of Consolidated Breweries Plc), the companies thanked all shareholders for their active support for the proposal by their overwhelming vote of approval. The statement also confirmed that the name of the enlarged company arising from the merger will be ‘Nigerian Breweries Plc’. Following this shareholder endorsement, the companies will proceed to the final stage of the regulatory process with the aim of perfecting the scheme by the end of 2014. The merger of Nigerian Breweries Plc and Consolidated Breweries Plc is expected to create value for all key stakeholders, drive

benefits from increased economies of scale and enhance operating and administrative efficiencies. The merger between Nigerian Breweries Plc and Consolidated Breweries Plc is expected to create value for all key stakeholders, drive benefits from increased economies of scale and enhance operating and administrative efficiencies. While the Court Ordered Meeting (COM) of shareholders of Consolidated Breweries was held at the Lagoon Restaurant on Ozumba Mbadiwe Street, Victoria Island, Lagos ; the COM for shareholders of Nigerian Breweries was held at Zinnia Hall, Eko Hotel, Adetokunbo Ademola Street, Victoria Island, Lagos. In line with the Companies & Allied Matters Act, the Scheme of Merger document was presented to shareholders at the separate COMs. As a major shareholder in the two companies, Heineken NV, which is in favour of the merger, had the right to vote in the separate court-ordered meetings. But the company decided not to exercise its voting right, avoiding any possible doubts on its integrity/conflicts of interest in the deal. Heineken’s decision was taken to give the minority shareholders of both companies sole discretion as to whether to approve the proposed merger.

Oando commences rights issue on NSE

he Nigerian Stock Exchange (NSE), has notified all stakeholders that the trading in rights of Oando Plc was re-opened from Wednesday, 3 December 2014 to end on Wednesday, 14 January 2015. This decision is subsequent to the Suspension of Trading in Rights that occurred on November 28, 2014. On Monday, 24 November 2014, trading commenced on the Oando rights issue of 2,217,265,184 ordinary shares of 50 kobo each at N22.00 per share. This offer was initially slated to close on Friday, 19 December 2014. Susbequently, however, Vetiva Securities Ltd, the Lead Stockbroker to the Offer, notified the NSE that Oando Plc was yet to obtain a formal clearance of the Offer documents and registration of the shares from the Securities and Exchange Commission. In reaction to this information, the NSE suspended the rights offer on 28 November 2014. C M Y K

C M Y K

42 — Vanguard, MONDAY, DECEMBER 8, 2014

People in Business BY EBELE ORAKPO

Engr. Emeka Nwachinemere is the Managing Director/ Chief Executive Officer of Livingstone Mega Industries (LMI), a processing, manufacturing, supplies, services, and agricultural consultancy company. In this chat with Financial Vanguard, Nwachinemere speaks on why he left the engineering field for agriculture and the challenges. He says his vision is to give the best value to the customers through a combination of aggressive strategic marketing, quality products and service delivery at competitive prices. Excerpts: On what led him into food processing: According to Engineer Emeka Nwachinemere, the establishment of Livingstone Mega Industries (LMI) was as a result of his quest to add value to crops and fruits with the most wastage and make agriculture a profitable venture in Nigeria. “My foray into business wasn’t a surprise for me; the sector I chose to launch my business career and the timing of entry were. I studied Mechanical Engineering at the University of Nigeria Nsukka, and by my projections, I would work for at least five years, raise some capital and then start a firm in any sector but the agroallied sector,” said Emeka. As they say, man proposes but God disposes. Instead of following his plans, certain events overtook and changed his plans for good. He said: “At some point in my final year, I was exposed to the precarious state of our agricultural sector; how several countries outperformed us. More saddening was the level of post- harvest losses that made agriculture an unprofitable venture. Doing a bit of soul searching, I quizzed myself as to the purpose of the education I had acquired if it couldn’t be used to solve problems. Little by little, I was swept away on an agrocrusade to be a vanguard of change, and revolutionize the agro -allied sector. Consequently, Livingstone Mega Industries Limited was th incorporated on the 4 of March, 2011 to pursue the business of agriculture; exploring the crops and fruits with the most wastage and adding value to them.” Going into farming: “We began business cultivating crops like cassava, maize, plantain, and pineapple in our farms at Ogun-Osun River Basin Authority, Iseyin, and Okaka; all in Oyo State. We also carried out trainings on Integrated Farming techniques, Processing, and Waste-to-wealth techniques trainings. Then there was an agricultural investment scheme we called Livingstone Farm Estate, in which investors made profits annually proportional to the investment slots they had acquired. “Gradually, we built up our holdings, acquiring lands in Iwo, Osun State, and Kwali, Abuja, for our different expansion projects. Along the

I was exposed to the precarious state of our agricultural sector; how several countries outperformed us

Engr. Emeka Nwachinemere…

I’m on crusade to revolutionise the agro-allied sector —Chukwuemeka Nwachinemere “Dry fruit,” Emeka said, is a fruit from which most of the water content has been removed either naturally through sun drying, or through the use of specialized dryers or dehydrators. It is prized because of its sweet taste, nutritive value, and

•Some LMI products line, we diversified into what was truly our passion; value addition, with the production of dry fruits and nuts.” Diversifying: In order to minimize post-

harvest losses experienced by farmers in Nigeria and give Nigerians healthy alternatives in snacks, LMI went into dry fruits production.

LMI believes in giving the customers only healthy food choices so in dry fruit snacks, there are no preservatives or additives, “it will always remain 100% natural.

long shelf life.” “With about six million Nigerians reported diabetic, according to a 2006 report by Nigerian National Diabetes Centre, Nigeria leads Africa on Diabetes prevalence with a 2.7% prevalence rate. In fact, more Nigerians die from diabetes than from HIV/AIDS. Seeing that diabetes has no known cure, regulated food intake remains the only means of managing blood sugar level and hence diabetes. However, people’s craving for sweet things would always persist; hence the need to create awareness on the availability of a healthy alternative in dry fruits. “Dried fruits retain most of the nutritional value of fresh fruits. The specific nutrient content of the different dried fruits reflects their fresh counterpart and the processing method. In general, all dried fruits provide essential nutrients and an array of health protective bioactive ingredients, making them valuable tools to both increase diet quality and help reduce the risk of chronic diseases. “Dried fruits are a particularly significant source of dietary fiber and potassium; they are among the top five contributors of potassium and fiber. They also provide essential nutrients that are otherwise low in today’s diets, such as vitamin A, calcium, vitamin K, iron, and copper. Recent analysis of dry fruits and those who take them indicates that diets high in dried fruits are associated with lower Body Mass Index (BMI), reduced overweight and obesity and improved diet quality; these data show that the prevalence of overweight/obesity and prevalence of abdominal obesity are lower for those who consume dried fruits than for those who did not.” He said LMI believes in giving the customers only healthy food choices so in dry fruit snacks, there are no preservatives or additives, “it will always remain 100% natural. “We have varieties like pineapple, apple, coconut, banana, mango, and pawpaw fruit chips and we allow our clients choose levels of dryness for each product, from 9%-15% moisture content,” he said. The company whose vision is to change the face of business globally, one sector at a time, has seven people in its employ and consists of six divisions viz: Extraction/ Processing; Manufacturing; Export/General Supplies; Aquaculture; Engineering Consultancy and Business Crisis Management.

Vanguard, MONDAY, DECEMBER 8, 2014 — 43

Advertising

Pay-TV market: Targeting consumers' hearts with yuletide freebies Stories by PRINCEWILL EKWUJURU

he battle for consumers’ heart in the pay-tv market has taken a new dimension with major players in the industry, Mulitichioce and StarTimes throwing drag nets to catch prospective and existing subscribers, to retain or and to increase their subscriber level. Before now, the federal government had instructed that pay-tv providers should move from analogue broadcasting to digital broadcasting model. So far so good, television stations and pay-tv platforms alike are struggling to beat the June 2015 deadline, for a digital switch over that will improve the quality of television viewership. Meanwhile, major industry players are making efforts to muster enough subscribers, come June 2015, while other players like Infinity tv, My Tv, Consat, Darsat to mention but few, are not visible on the digital drive issue, and not making efforts at canvassing for more subscribers, a situation that might put them in a tight corner in future. A cursory look at the market at this yuletide season revealed that Multichoice, owner of the Digital Satellite Television, DSTV and GOtv brands, recently launched a promo: ‘Multichoice Super Cruise Promo,’ using the promo run on both brands to set a bait to increase its subscriber base. The recent is the unveiling of its single view DSTV decoder, while StarTimes, a pay-tv platform run in partnership with Nigerian Television Authority, NTA, commenced a massive free decoder give-away promo for everyone during the commenced yuletide season. Another is StarTime’s currently running promo where it is giving out cars and other consolation prizes to subscribers, both existing and prospective. In the ongoing promo, which started November 14 to end February 6, 2015, Multichoice Nigeria promised subscribers 20 Kia RIO cars, courtesy KIA Motors Nigeria, 100 plasma Television sets, 30 DSTV explora decoders, 60 3 months subscription on GOtv with a condition for subscribers and prospects to buy DSTV decoders with three months subscription for three

AWARD - Left: Peterson Zachonis, PZ, CEO, Mr. Christos Giannopoulos and Mrs. Folashade Odedina during the presentation of Thermocool loyalty award at Thermocool’s 40th Anniversary in Lagos recently. months on DSTV Access, Family and compact, including the premium bouquet. Martin Mabutho, General Manager, Marketing, MultiChoice Nigeria, said the company is committed to consistently rewarding its loyal customers, while emphasizing that apart from the 20 Kia Rio cars, Multi- Choice is also giving away 100 Plasma TV screens, or 30 DStv Exploras decoders to DStv and GOtv subscribers.

“We are giving our existing subscribers a chance to also cruise away in a Kia Rio, simply by staying connected to DStv” Mabutho said. Multichoice is also saying that it has just launched its first HD single view decoder. According to the company the DStv HD decoder delivers great HD signals and Dolby Digital 5.1 surround sound accessible to DStv subscribers. Multichoice said the DStv HD decoder will replace the

existing standard definition single view decoder. “The launch bears testament to our continued investment in technology to ensure DStv delivers the best television experience in Africa. The DStv HD decoder will ensure that more subscribers will have access to DStv’s HD channel offering. High definition creates a far superior television viewing experience in terms of picture quality and the Dolby Digital 5.1 surround sound adds a new dimension to the audio experience. The DStv HD Decoder will open up a new world for many DStv subscribers,” says John Ugbe, Managing Director, MultiChoice Nigeria. For StarTimes, the giveaway promo is part of its commitment to commemorate the festive season and ensure every Nigerian enjoys digital TV experience. It further said the offer is coming ahead of the 2015 digital switch over and is aimed at offering every Nigerian an opportunity to own set-boxes required for quality digital TV experience.

Samsung, MTN excite with Galaxy Spin Wheel promo

amsung Electronics West Africa, in partnership with MTN Nigeria, has announced the commencement of a promotion to make this holiday season more exciting for Nigerians. TaggedSamsung Galaxy Spin Wheel Promo, the nationwide drive will see customers that purchase data-enabled Samsung Galaxy devices from MTN brand stores experiencing the thrill of spinning a wheel towards winning fantastic gifts and mobile accessories from Samsung. Participants in the promotion will enjoy six months free access to WhatsApp, free 18GB data spread over 12 months on MTN’s monthly bundle activations as well as a unique opportunity to enjoy instant internet connectivity on their Samsung devices. In addition the organisations will be holding several retail activations across the country to deepen consumer engagement while helping customers utilize their Samsung Galaxy devices in unlocking useful and entertaining experiences.Samsung’s brand ambassadors as well as other celebrity star attractions will also be on hand to engage attendees at select activation sites. Expressing his delight at partnering with MTN Nigeria, Director of Information

Technology and Mobile for Samsung’s West Africa operations, Mr. Emmanouil Revmatas, described the initiative as Samsung’s way of enabling its customers share in the joy of the holiday season. “Nigeria is a very important market with high potential and it is very rewarding to know that people here support our business. The Samsung Galaxy Spin Wheel promo is our way of showing appreciation to our consumers for their loyalty and support throughout the year and our partnership with MTN Nigeria provides us with a platform through which we can achieve this goal. We look forward to having more initiatives of this kind in the years ahead,” he said. Revmatas reiterated Samsung’s commitment to developing best-in-class products and adding value through customer-centric partnerships to meet the ever-changing needs of its consumers. On his part, General Manager,Consumer Marketing at MTN Nigeria, Mr Richard Iweanoge said: “MTN is committed to bringing mobile data services closer to the doorstep of Nigerians and our partnership with Samsung is yet another step in this direction. We believe that this initiative will propel smartphone penetration and increase data adoption in the country.”

Omole, NT A DG NTA receives NIPR AWARD

he Director General of Nigerian Television Authority, Sola Omole has been recognised by the Nigeria Institute of Public Relations (NIPR) as one of Nigerian’s reputation builders in a special event tagged “Celebrating our own stars” which held recently in Abuja. The recognition award according to the institute is as a result of Omole’s distinct industry and recent outstanding contributions impacting positively on Nigeria’s reputation. In a letter signed by RotimiOladele, president and chairman of council, NIPR intimating the NTA Director General of the recognition, the institute said “our institutional recognition came as a result of the clear-cut values you have generated on your duty post in recent time and your present status which you truly deserve”. “It is imperative for Nigerians to know and appreciate your efforts over time and as the professional institute with mandate of reputation management, regulation of corporate communication and public affairs practice, we cannot but celebrate your expertise, experience, commitment and patriotism.

Marketing professionals advised to embrace digital marketing

…As NIMN reward students

arketing professionals have been advised to embrace digital marketing as a major tool in reaching out to the mass market, as the National Institute of Marketing of Nigeria, NIMN reward outstanding students. The call was made by the Managing Partner of Business Plus Services, Mr. Ayeni Ekundayo, while delivering a memorial lecture in honour of Late Mike Agbakoba, a distinguished marketing professional at the award ceremony of the institute. Speaking, Ekundayo urged practitioners to see digital marketing as a new way that could help drive the process in reaching to a cross section of the Nigeria market thereby achieving optimum result. He noted that in the age where youth are mostly on social network, it was imperative that marketers begin to engage their audience through these numerous platforms. C M Y K

44— Vanguard, MONDAY, DECEMBER 8, 2014 Email:lesleba@lesleba.com, lesleba@gmail.com Blog page:www.lesleba.com/blog2 Website: www.lesleba.com Tel:0805 220 1997

The CBN act and the oppressive failure of monetary strategy T

he public’s usual refrain to rising prices is that “manufacturers/suppliers/ farmers have increased prices of their respective goods and services; the supplier is evidently the villain in public consciousness; it would indeed require the patience of Job to convince most Nigerians that such condemnation was misplaced and it may even be more difficult to put the blame for high cost of funds at the doorstep of Central Bank. Consequently, it would be unbelievable to even suggest that CBN is infact the ‘devil in our economic workshop’. Evidently, money is the binding glue that also predicates all economic activity; it is also true that without the instrument of money as a means of exchange and a store of value, modern economies would fail. It would be chaotic if everyone could simply create or introduce their own acceptable versions of money as this would ultimately lead to millions of different ‘brands’ of money, with indeterminate purchasing power; apart from the ensuing market confusion, the unregulated and compulsive creation of individual money ‘brands’ would set so much purchasing power to chase few goods and services; inevitably, the prices of goods and services will spiral. It is expedient therefore for every government to approve and mandate a single supply source for a nation’s currency; consequently, the Central Bank constitutionally, performs the role of sole custodian and supplier of all

Naira. Nonetheless, if CBN exhibits reckless ‘abandon’ in its creation and supply of Naira, the impact of the resultant price rise would not be any different, if money supply gushed out from myriad sources; the CBN Act therefore ensures considerable measure of independence and shields the CBN from political interference and any pressure to excessively print more and more Naira. The CBN’s mandate for appropriately managing money supply for inclusive economic growth is defined as the maintenance of price stability, which basically includes keeping a lid on the general price level, by modulating money supply, and also ensuring that businesses can borrow at cost levels that would sustain industrial and economic growth with increasing employment opportunities. Instructively, whenever, CBN pumps too much Naira into the system, both inflation and cost of funds are adversely affected, as increasing Naira supply will not only drive prices but may also encourage easy access to loans and increasing consumer demand which could further fuel inflation. In such event, CBN is regularly forced to jerk up the rate at which commercial banks obtain loans from the Apex Bank to shore up their cash positions from time to time; thus, if CBN’s monetary policy rate is 13% as it currently is, the banks will be instigated to lend to their customers at over 20%! It is revealing, that while CBN’s MPR is oppressively high at 13%, the policy rate

in successful economies is usually below 3%! Thus, foreign loans are generally cheaper than rates offered by our money deposit banks and it is also obvious that goods produced with cost of loans below 7% will always be more competitive than local productions which are funded with over 20% interest rates. The CBN also has the constitutional mandate to maintain exchange rate stability; a currency with an exchange rate that is

In order to ensure best practice standards in monetary strategy, it is absolutely necessary that our expectation for international best standards must be enshrined in the CBN Act constantly on steady decline, particularly in an economy that is heavily dependent on imported raw materials, will also increase domestic production costs and may not successfully compete against cheaper imports. Instructively, therefore, the more liberal the official supply of Naira, the weaker ultimately will be the exchange rate as more Naira chase CBN’s limited dollar auctions; consequently, ravaging inflation, high cost of funds and a continuously weaker Naira are all symptoms of too much Naira creation and supply by CBN!

So, in the light of the above, why then does CBN continue to inundate the money market with excess Naira supply? The unfortunate reality is that CBN impulsively instigates the oppressive consequences of a “surplus Naira syndrome” every month when it substitutes fresh Naira supplies for distributable dollar revenue. Farcically, the CBN proceeds immediately thereafter to remove/reduce part of the excess Naira supply by borrowing back from commercial banks hundreds of billions of Naira every month at over 10% so as to actively prod banks to lend at much higher rates to customers so as to contain inflation by discouraging borrowing and spending. Incredibly, moneys borrowed by government at such high cost will not be applied to remediate, our health, educational, power inadequacies or indeed for any other positive social benefit, as such expenditure would only reintroduce more funds into an already Naira suffocated economy to rapidly drive the beleaguered train of inflation, higher cost of funds and a weaker Naira. Incidentally, the CBN and the Monetary Committee see the mandate for price stability as that of maintenance of stability at any level, even if such levels, as in our current predicament, mean stability of disenabling high inflation rates, at over 8%, disruptive cost of funds at over 20%, and Naira exchange rate which for over 20 years have never responded positively to increases in our foreign reserves inspite of extended import covers! Sadly, the CBN which is evidently the villainous

Agency which regularly poisons the money market with excess Naira supply has gotten away with this obvious rape of our economy for so many years without any sanction; indeed the tenure of CBN Governors has nothing to do with success in maintaining industrially and economically stable rates of inflation e.g 1-3% as in focused and successful economies or indeed in bringing down cost of funds to industrially friendly levels such as 5-7% across the board (not selective bail outs which only exacerbate excess liquidity and the collateral of high inflation and interest rates with an embattled Naira in tow)! Consequently, in order to ensure best practice standards in monetary strategy, it is absolutely necessary that our expectation for international best standards must be enshrined in the CBN Act, so that any Governor and Monetary Policy Committee that is incapable of bring inflation below 3%, or fails to keep monetary policy rate at not more than 2% above the International standard of the London Inter Bank Offer Rate (LIBOR - usually between 13%) should resign from office, if such best practice standards cannot be reestablished within 3-6 months. This provision would force every CBN Governor to make sound monetary decisions and evolve workable strategies, such as for example, the containment of excess Naira supply with the allocation of distributable dollar revenue with dollar certificates rather than direct substitution with Naira and the attendant scourge of Excess Naira on our people. Save the Naira, Save Nigerians!!

Business & Economy

NECA, others seek speedy resolution of NBC,CPC crisis

takeholders have called for the speedy resolution of the imbroglio between Coca-Cola and Consumer Protection Council, CPC, saying that it is giving investors course for concern. The Nigerian Employers Consultative Association (NECA), the umbrella organisation of employers in the Organised Private Sector of Nigeria, in a statement said the CPC, in its bid to survive in a dispensation of tight fiscal policy and diminishing budgetary funding, has resorted to methods that are inimical to the sustenance of the real sector. C M Y K

This came on the heels of Coca-Cola Nigeria being slammed a civil penalty of N100 million (including a whopping N60 million cost of investigations), as the outcome of its investigation indicted them after an administrative panel set up to investigate a consumer complaint, regarding two half-empty cans of Sprite manufactured by NBC Limited, under the licence and authority of Coca-Cola Nigeria Limited. A review of the CPC Act shows that a N50, 000 fine, is the highest penalty such an infraction should attract. While the regulatory environment for Nigerian

entrepreneurs is improving, considerable challenges remain. According to the World Bank, Nigerian businesses spend valuable time and resources trying to comply with a myriad of local regulations. ”Removing burdensome regulations is an essential step toward a stronger private sector,” said Rita Ramalho, 2015 Doing Business report lead author, World Bank Group. “Although Nigerian enterprises face regulatory obstacles, implementing business-friendly reforms will allow local entrepreneurs use their time and resources more efficiently.

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

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 Energy Reporter Maritime Reporter Insurance Reporter

CONTRIBUTORS Princewill Ekwujuru Nkiruka Nnorom Jonah Nwokpoku Naomi Uzor Providence Obuh LAYOUT

Media/Marketing Capital Market E-Commerce Industry Micro Finance Graphics Department

Vanguard, MONDAY, DECEMBER 8, 2014 — 45

C M Y K

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RIVERS 2015: I'm the alternative platform for progress — Ajumogobia AS the race for the PDP ticket for the Governorship of Rivers State grows increasingly controversial the news that the former Attorney General of the State Odein Ajumogobia (SAN) has thrown his hat into the ring has taken many observers by surprise. Ajumogobia is a distinguished lawyer whose career so far has been marked by a high sense of dignity and an ability to avoid controversy even while serving in highly sensitive posts. A brilliant law student who emerged from his university days with a long list of awards he fulfilled his early promise in practice effectively and was virtually drafted to become the Honourable Attorney General (HAG) of the state by Dr. Peter Odili entirely on merit rather than because of any noticeable political links. However, his service to the state under the Odili regime raised his profile so highly that he was appointed to important Federal Ministerial posts after he left office. He was Minister of State for Petroleum and then Foreign Minister. In the latter post he became a favourite of the diplomatic corps in Abuja. It was widely lamented when political manipulation led to him being dropped from the cabinet after Dr. Jonathan was elected President in 2011 but he returned quietly to his successful legal practice in Lagos and has made no noise. Now that he has emerged as one of the most credible and certainly one of the most qualified of those vying for the governorship ticket of the Peoples Democratic Party, PDP the public in Rivers State in particular and across Nigeria as a whole are certainly interested in knowing the reasons behind his decision to join the race: in the following interview with Lindsay Barrett he articulates some of these reasons.

HEN did you first consider contesting for the Governorship of Rivers State? The notion initially began to suggest itself to me about eighteen months ago. There were however essentially three distinct phases probably six months apart, which eventually coincided in providing further impetus to my seriously considering the idea in the last six months especially and to my eventually formally expressing my interest in offering myself as a candidate in the PDP for the office of Governor of Rivers State. What are your major reasons for taking this decision? The earliest influence was a group of close friends and a number of former political associates from my time as HAG, in Rivers State, who sought to draft me into the still then distant contest especially given the geo politics of Rivers State and the universal expectation of a power shift to the Riverine parts of the State, after sixteen years. I was not enthusiastic at first. My own personal interest in the leadership of the State

derived from my visceral reaction to what came to be known nationally as the Rivers crisis and the subsequent and progressive degeneration of the crisis that culminated in the governor joining the main opposition party. The most troubling aspect of the crisis for me personally and as a former HAG of the State, was the shutting down of the courts.

Ordinary people They remain shuttered as we speak. I realised just how deeply involved I had become in the fortunes of the state, how much I cared about the future well-being of the ordinary people of my State, and how the crisis was likely to adversely affect their future. As the crisis deepened I also became particularly concerned by the widening divisions and disunity within the once wholesome and cohesive political family in the state into antagonistic and rabidly hostile and potentially violent factions. The prospect of a resur-

•Ajumogobia gence of cult and gang wars, political assassinations and murders and militancy haunted me. All these were compounded by what later became the unusual prospect of the abrogation of the entrenched party policy of power shift, and rotation with regard to the key political office of Governor of the State. I saw myself as being untainted by mutual antagonisms and believed that I might offer an alternate platform upon which the various factions in the State might be reconciled in the best interest of the State.

Inevitable outcome Offering myself to serve as Governor became a natural and inevitable outcome of these strong emotions and sincere reflection after wide consultations and encouragement from a broad crosssection Rivers State society. You were regarded as one of the bright stars of the Odili Regime; have you consulted your former boss about your ambition? I did not have the opportunity to do so as I would naturally and proudly have done as one of his protégés. As you know it was Dr. Odili who introduced me into public life, nurtured me and supported me as counsellor and mentor. His extremely busy schedule especially in this season of politics has perhaps been a constraint to my ability to have had the opportunity to have consulted him prior to my formally expressing interest in the Rivers governorship race. It is being said that you only came into the race in the late stages when the party could not stop Nyesom Wike; is this true? I have not heard that and in any event it cannot be true. Both Chief Nyesom Wike and I served in Dr Odili’s Administration - he as local government chairman of Obi Akpor LGA , and I as the Attorney General and Commis-

sioner for Justice. There has always been mutual respect between us. It is always and exclusively the party that selects its candidates for various offices from amongst its members in accordance with its constitution and guidelines issued by the National Working Committee of the party from time to time. Based on the constitution of our party I believe it is incongruous for my brother Nyesom to be seeking to be Governor of the State at this time. I am sure that even he would admit that. Having said this I have great admiration and respect for his formidable skills as a grassroots mobiliser who was the arrowhead in re-establishing the PDP in Rivers State after the erstwhile PDP Governor, Rt. Hon. Rotimi Amaechi dismantled the party’s structures in attempting to make the APC a viable opposition party in what is essentially a PDP state. He clearly established himself as arguably the most prominent leader of the PDP in the state in part because he was also then a Minister in President Jonathan’s cabinet and had the formidable apparatus of

I believe it is incongruous for my brother Nyesom to be seeking to be Governor of the State at this time

state at his disposal. Some, surprisingly, have even described him as the leader of the party in the state, but the “kingmaker should not become the king” especially in clear violation of the party constitution. It is also alleged that Chief Wike has secured the support of a majority of delegates from all parts of the state; if so why seek the ticket of the PDP? I became a registered card carrying member of the PDP in 2000. In the first place it simply has not occurred to me to join any other party. The genius of the PDP (and credit here must go to its founders) is in its proven and time-honoured system of power shift or rotation and or zoning of key political and public offices to give all members a sense of ownership and belonging in the interests of justice, equity, and fairness according to the language of the party Constitution.

Language of the party constitution I find it troublesome and disturbing that people should be speculating that a particular candidate has secured the support of a majority of delegates from all parts of the State when the support of each delegate including 957 ad hoc delegates is generally not communicated to anyone in advance other than to the particular aspirant. The outcome of the purported ward congresses was never announced, neither was the list of purportedly elected delegates ever published anywhere by anyone. I was recently declared unqualified to contest the gubernatorial primary election on the ground that I was not a member of the party because my name did not appear in a purported list of members of PDP in my LGA! This despite the various high political offices I had occupied between 2003 and 2011 on the platform of the party. However a twelve man Continues on page 52

Vanguard, MONDAY, DECEMBER 8, 2014 — 51

Die is cast for 30 PDP governorship battles The die is cast in the contest for the gubernatorial ticket of the Peoples Democratic Party, PDP in the 30 states gubernatorial elections would be holding next February. In almost all the states the governors whether first term or second term governors are deeply involved. Where the governors are in the second term, they are keenly

interested in who succeeds them and are deeply involved in today’s battle. With the notable exceptions of Governors Sullivan Chime of Enugu and Martins Elechi of Ebonyi who lost out to rivals, almost all the other governors are in pole position to push forward their preferred aspirants for succession. The battle in some of the most interesting states are presented below.

By Anayo Okoli, Jimitota Onuyome,By Chidi Nkwopara, Daud Olatunji, Peter Okutu, John Mkom, Jalingo,

Eleven aspirants fight for Amosun's seat

HOUGH 11 aspirants are in contention for today’s governorship ticket of the party in Ogun State, it is generally believed that it is a straight battle between erstwhile speaker of the House of Representatives, Dimeji •Uduaghan Bankole and the right hand man of former governor Gbenga Daniel, Gboyega Isiaka. While pundits claim that Bankole’s leverage is coming from Abuja, Isiaka has won favour with the convergence of the support of Buruji Kashamu and Daniel. Daniel had recently stepped down his senatorial ambition and it is believed that his decision which is in favour of Kashamu could have facilitated the support for Isiaka from Kashamu. Other aspirants in the •Orji race include Yanju Lipede, a popular philanthropist, Remilekun mension with the agitation by Bakare, and Abiodun the Rivers South East senatoAkinlade, a third term member rial district to be given the slot. of House of Representatives. The senatorial district has maintained consistently that Rivers: The fiery they are the only area that has contest not produced a governor in the state. In Rivers State, 18 aspirants The Ogoni in the district are locked in battle agains have appealed to all parties to former Minister of State for ensure their standard bearers Education, Mr Nyesom Wike come from Ogoni, noting that who accuse him of both violat- they will only vote for a candiing the zoning principle and date that is Ogoni for the govhijacking the party structure for ernor. his benefit. The aggrieved aspirants who The aspirants who have have clubbed together against teamed up to stop Wike and Wike include: Prince Tonye whose supporters last week Princewill, Major Lancelot carried a coffin to the party’s Anyaya rtd, Chief Paweriso national secretariat in Abuja Samuel Horsefall, Engr say it is unfair for Wike who is Sampson Ngeribara, Bar from the same Ikwere ethnic Dumo Lulu Briggs, Hon group as the outgoing gover- Bernard Mikko, Mr Oseleye nor to succeed the governor. Dennis Ojuka, Captain S. On his part, Mr Wike has Nwankwo, Engr Bekinbo dismissed their arguments as Dagogo Jack, Bar Nimi a reflection of the mind set of Walson-Jack, Hon sir Gabriel lazy politicians who want to sit Pidomson, Prof Don Baridom, in their houses and expect gov- Engr Georgewill Emmanuel, ernorship ticket to be ceded to Bar Nyesom Wike, Bar them. There is also another di- Abieatedoghu Bob-Abbey

•Akpabio Hart (lady), Mr Atamuno Atamuno, Mr Odein Ajumogobia, SAN.

Ebonyi: The quest for Elechi's job

Though there are about eight aspirants in the race for the PDP ticket, it is an incontestable fact that the duel essentially between the outgoing governor, Chief Martins Elechi and his deputy, Engr. Dave Umahi. Elechi’s faux pas in choosing the former minister of health, Prof. Onyebuchi Chukwu as consensus candidate of the party without the

The Ogoni in the district have appealed to all parties to ensure their standard bearers come from Ogoni

•Chime influence of the other major stakeholders and notably, Umahi, has led to the removal of the carpet from under Elechi’s feet. Elechi is practically isolated in the PDP today as the delegates list is with Umahi who seems poised to take over the baton from an unfriendly boss. The other aspirants in the race include Dr. Paul Okorie, Senator Offia Nwali, Chief Aja Nwachukwu, Senator Paulinus Igwe Nwagu, Hon. Michael Ude Udumanta and Hon. Hycinth Ikpo. Contesting the position, the gubernatorial primaries for the Peoples Democratic Party, PDP, is now a battle between Dave Umahi and Prof. Onyebuchi Chukwu.

Intrigues, conflicts and possibilities in party primaries The big names in today’s contest in Imo State are the immediate past State Governor, Chief Ikedi Ohakim, the Deputy Speaker, House of Representatives, Chief Emeka Ihedioha, Prince Ken C. O. Njemanze, SAN, Professor Jude Nioku, Dr. Charles Amanze, Mr. Ken Ojiri, Chief Ifeanyi Araraume, Chief Humphrey Anmudu, Charles Onyeagbako and some others. They are all determined that Okorocha should go in 2015. Not surprisingly, the problem in PDP started during the recent election of delegates. Several lists have been flying around as “the authentic list”. It must however be said that since the state assembly and National Assembly primaries have been concluded, it therefore means that the National Headquarters of the PDP must have settled the issue.

Addressing the issue in a media chat, Professor Njoku lamented that the organization of the delegates election and primaries were below expectation. Tension in Taraba: The political tension in Taraba State which was recently enlivened by the reinstatement of the former deputy governor has taken a new direction with last minute intrigues in the contest for the PDP ticket. The failure to hold the state house of assembly and house of representatives primaries on account of a court case instituted by Senator Danlami Ikenya on the ward ad-hoc delegates list is causing apprehension. Spokespersons for the gubernatorial aspirants all confirmed to Vanguard that their candidates were ready to go into the primaries if it holds today.

Confusion in Oyo The tussle for the PDP governorship ticket has worsened relations in the Oyo State chapter even if relations had never even been really warm. The ten aspirants in contention for the ticket are the former Governor of the state, Otunba Adebayo Alao-Akala, Engr Seyi Makinde, Senator Teslim Folarin, former Senate leader, Prof. Soji Adejumo, Prof. Taoheed Adedoja, former Minister of Sports, Dr. Azeez Adeduntan, Azeem Gbolarumi, Dr. Isaac Owolabi, Engr Femi Babalola and Senator Ayoade Adeseun who recently defected from the All Progressive Congress. As things are now, it seems the national leadership of the party is in a dilemma following claims Continues on page 52

52—Vanguard, MONDAY, DECEMBER 8, 2014

Die is cast for 30 PDP governorship battles Continues from page 51 of aspirants that there are two conflicting court judgements over the issue. Ward congresses, according to them, took place on November 1 but was cancelled after avalanche of petitions that it was grossly rigged. After that, a new 5-man congress panel led by former minister Dr Aliyu Idi Hong was mandated to conduct fresh Congresses on November 24. The results of the congresses were signed by •Elechi the secretary of the panel, Ndoma Egodo and authenticated by the Yinka Taiwo led executive as being the results emanating from congresses held at the designated venues listed by the State Chapter of the PDP. The results reportedly favoured the camp of the former Senate Leader, Senator Teslim Folarin. The other three congress panel members led by Dr Tony Macfoy however disagreed with Idi Hong and Egodo and submitted a separate set of re•Danladi sults, which was said to favour Seyi Makinde. Though, the court has upheld the result that favoured Nwosu, Iheanacho Orji and Makinde, other aspirants in- Acho Nwakanma. Two others, cluding Folarin are not surren- Ambassador Okay Emuchay and Marc Wabara are from dering. Vanguard gathered that Ukwa East Council area, while some aspirants have gone to Wogu is from Aba South. And court to challenge the Appeal all of them are from the Ukwa/ Court decision. The last has not Ngwa bloc, where the ruling party in the state zoned the govbeen heard on the case. ernorship slot to. The only nonAbia South aspirant is Dr. Uche Crunchy Ogah. battle in Abia On the surface, everything seems to be working in favour The eight aspirants in the contest are Chief Friday of Dr. Okezie Ikpeazu, who is Nwosu, the immediate past allegedly being sponsored by Minister of Labour and Produc- the government in the state. tivity, Chief Emeka Wogu, Dr. Okezie Ikpeazu and Ambassador Okay Emuchay. Others are Dr. Sampson Uche Ogah, Chief Okezie Iheanacho Orji, Chief Marc Wabara and two time deputy governor in the state, Elder Eric Acho Nwakanma. From every indication, it is going to be a very tight and inIt seems the nateresting contest given that all the aspirants are big weights tional leadership of in their own rights and are emi- the party is in a nently qualified to occupy the dilemma following Umuahia Government House. Interestingly, four of the as- claims of aspirants pirants are from one local gov- that there are two ernment, Obingwa, seen as the political hotbed of the state. conflicting court They are Okezie Ikpeazu be- judgements over lieved to favoured aspirant from the Government, Friday the issue

I'm the alternative platform for progress — Ajumogobia Continues from page 50 Appeal panel, comprising renowned men of honour and integrity such as Arc. Bunu as Chairman and Dr Dan Ulasi as Secretary has since cleared me to contest the primaries along with several others who had been similarly declared ineligible. This highlights the lack of authenticity of the PDP voters register in the absence of a revalidation or re-registration of PDP in all wards and LGAs of the State. How will you defuse the divisions in the PDP that appear to be creating several hostile factions? How will you reconcile opposing groups in the party and the state? I do honestly believe that the hostile factions will sheath their swords once I emerge as the PDP flag bearer. The seeming hostility stems from a lack of trust amongst the several factions. It is the fear of oppression and exclusion that makes it a desperate situation for the faction that senses that another faction has or will have the upper hand.

•Akala

Personal priorities

•Ohakim Though the government has severally denied having any favoured aspirant, but the body language and activities of some trusted government officials and the amount of his endorsement by government appointed officials like the transition committee chairmen have since given lie to this denial.

Delta: Dicey race

THE political atmosphere in Delta State is now enveloped with apprehension and uncertainty in the last hours preceding the primaries of the PDP. The endorsement of Mr. David Edevbie erstwhile commissioner of finance in the James Ibori administration and subsequently, principal staff officer to President Umaru Yar‘adua by the influential Urhobo Progress Union, UPU seemed to shake the ascendancy of the Tony Obuh campaign. Rumours that Obuh had been dumped by Governor Emmanuel Uduaghan who is alleged to be his benefactor were denied by a government spokesman who spoke on the condition of anonymity and described as a wicked rumour by a media aide to Obuh, Mr. Basil Okoh. The influential chief of staff to the governor, Chief Paulinus Akpeki was, however,

categorical in affirming the declaration of the UPU. “The UPU is the apex Urhobo socio political organisation and once the UPU speaks every Urhobo man must pay heed,” Akpeki told Vanguard yesterday. His position was seconded by the outgoing deputy governor of the state, Prof. Amos Utuama who stepped down his aspiration for Edevbie backed by the UPU.

Manipulated endorsement The assertions nonetheless, Mr. Omo Ovie-Agege and Olorogun Kenneth Gbagi are, however, believed to be forging ahead with their campaigns. Gbagi described the endorsement as manipulated saying: “There is nothing the UPU found in Edevbie that I do not possess, so it is all a game plan of Chief Ibori against Jonathan and Clark.” Influential former Ijaw militant, Chief Government Ekpemupolo, alias Tompolo on his part is said to have waded into the race with a strong support for Senator Ifeanyi Okowa. Until Obuh’s entry into the race, Okowa was in pole position with some other aspirants like Engr. Victor Ochei, Omo-Agege and Kenneth Gbagi as major contenders.

I do not believe that any group will feel threatened by my ascendancy to the office of Governor. What will be your personal priorities as Governor of the State? Frankly my personal priorities can be defined as simply anything that will ensure justice, good governance and guarantee the well-being of all the people regardless of their station in life. This includes respect for all citizens especially the elderly and compassion for the vulnerable. One thing I will insist on is that the legacies left by those who came before me will be consolidated and improved upon. I will not act as if I am the first person ever to become governor but will acknowledge the positive things that those who came before me have achieved and seek to emulate or improve upon their efforts. Education, health care, industrialisation, agriculture, and urban development will receive adequate attention and the sustained development of services and employment opportunities for the youth will be among my major concerns. My experience as Chairman of the State’s Sustainable Development Agency has given me the insight and the knowledge that will help me to guide the affairs of the Administration in a manner that will benefit all the people. Unity peace and security will be the watchwords of my Administration.

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Vanguard CLASSIFIED

Don’t present Wike, Rivers Elders, leaders warn Jonathan, Mu'azu By Henry Umoru

BUJA—RIVERS State people, under the aegis of Rivers State Elders and Leaders, have warned President Goodluck Jonathan and the leadership of the Peoples Democratic Party, PDP, against imminent explosion and collapse of the state, if the party presents the immediate Minister of State for Education, Mr Nyesom Wike as its governorship candidate in the 2015 general elections. Rising from a meeting with Chief Edwin Clark at his Asokoro residence, Abuja, the leaders and elders called on President Jonathan, PDP National Chairman, Alhaji Adamu Muazu, the entire leadership of the party, that anarchy looms in the state following what they termed, the inordinate political ambition of an individual, who wants to impose himself on the people, even against the wishes of the people. Meanwhile, Chief Clark, who noted that the situation in Rivers State PDP has become explosive as no one could predict what will happen later, if what he described as injustice, were not addressed, said that an individual has been

masquerading himself as the owner of PDP, adding that there can never be peace in Rivers State, if there was no justice and if the PDP fails to respect its constitution. In a letter addressed to the president at the end of its meeting, the elders, who condemned the rising violence and killings in various parts of the state, stressed that if nothing was done urgently, the ambition of an individual would throw the state into anarchy and war, which they said will not augur well for the

state and the country, adding that the violence and activities of some politicians in the state have become so worrisome that they are calling on President Jonathan to intervene to restore sanity The elders who insisted that the PDP must respect zoning and allow the riverine area of the state to produce the next governor, warned that if that was not looked into, the party may not be happy at the end of the day, adding that the state will vote for President

Goodluck Jonathan next year as he already has 75 percent of Rivers State. The letter which was read by Chief Albert Horsfall, called on the president and leadership of PDP to order the cancellation of all the congresses and state House of Assembly primaries conducted, just as they called for the dismantling of all PDP structures in the state, said to have been taken over by Wike-led Grassroot Democratic Initiative, GDI and called for a fresh congress by the party national leadership.

Edo Speaker, Majority Leader win APC House of Reps ticket By Simon Ebegbulem & Gabriel Enogholase

ENIN CITY— SPEAKER of the Edo State House of Assembly, Uyi Igbe, Majority Leader, Philip Shaibu, yesterday picked the House of Representatives tickets in the primaries of the All Progressives Congress, APC, in Edo State, yesterday. But the result of Ovia federal constituency was delayed after armed thugs

invaded venue of the exercise, when the votes were being counted and chased away the officials. The incumbent member representing Akoko Edo federal constituency, Peter Akpatason and the member representing Owan federal constituency Mr Pally Iriase picked the tickets of their party by polling 296 and 575 respectively. Another member of the state House of Assembly, Paul Ohonbanmu picked the Egor/Ikpoba Okhai

ticket by polling 423 votes as against 108 scored by A n d r e w Agbonmwanegbe. Uyi Igbe defeated the incumbent House of Representatives member in Oredo federal constituency, Rasaq Bello-Osagie with 295 votes as against 57 polled by Bello-Osagie. In Esan South East and North East federal constituency, Onikolease Irabor polled 403 defeating Ebare Chris, the state Commissioner for Budget, who polled 134.

OLUWAMAYEWA— I, formerly known and addressed as Oluwamayewa Ajirogene Adekoya, now wish to be known and addressed as Adekoya Samuel. All former documents remain valid. General public please take note.

Y A H A Y A AGBENYO—I, formerly known and addressed as Yahaya Agbenyo Akpidi Joyce, now wish to be known and addressed as Mrs. Joyce Akpidi Olawale Oladokun. All former documents remain valid. General public please take note.

UYERI—I, formerly known and addressed as Miss Ewomazino Uyeri, now wish to be known and addressed as Mrs. Ewomazino Uyeri Awoyemi. All former documents remain valid. General public please take note.

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OMONIGHO—I, formerly known and addressed as Miss Ejaeta Sophia Omonigho, now wish to be known and addressed as Mrs. Ejaeta Sophia Olokor. All former documents remain valid. General public please take note.

AGBONGBOHIELU— I, formerly known and addressed as Miss Agbongbohielu Isibhakomen Sussy, now wish to be known and addressed as Mrs. Omu Isibhakomen Sussy. All former documents remain valid. NYSC and general public please take note.

OYANA—I, formerly known and addressed as Miss Irene Nkeonye Oyana, now wish to be known and addressed as Mrs. Irene Nkeonye Ayidu. All former documents remain valid. General public please take note.

ADIM—I, formerly known and addressed as Miss Chioma Cynthia Adim, now wish to be known and addressed as Mrs. Chioma Cynthia Mbata. All former documents remain valid. Imo State University and general public please take note.

OBI—I, formerly known and addressed as Miss Obi Joy Chinyere, now wish to be known and addressed as Mrs. Muoghalu Joy Chinyere. All former documents remain valid. NYSC, Federal Polytechnic Nekede, Owerri and general public please take note.

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Vanguard, MONDAY, DECEMBER 8, 2014—59

“I have a clear message of my own fetal existence. It was an existence where no voice, no possible movement could free me from the agony and darkness I was subjected to….” — Samuel Barclay Beckett. I stopped writing. suddenly found out that I was repeating myself, sounding like a scratched record. Jarring a menace to the ears and a nuisance. The gramophone pin had to be lifted from the record. I was tired of saying that at the end of the world cup, our football story had run full cycle and there was a need for a reappraisal; auto criticism. That you could not do the same thing over and over again and expect a different result. That we needed to first of all find out where we derailed and pick ourselves up for the purpose of moving forward. No. Others found a better and quicker fix. Sweep everything under the beautiful carpet. Paper the cracked walls…….today, we have stumbled on the growing bulge under the carpet. The wall paper has peeled off, a disaster that waited to happen. I stopped writing when this breath of fresh air came blowing my way. In Uyo during the gala nite to mark the creation of God’s own Akwa Ibom State, my Governor , bless his large heart, singled me out for a very ambitious programme of commissioning a masterpiece called Akwa Ibom International Stadium. There started a six week old journey that saw us buried in serious work, trying to satisfy a man whose quest for perfection is unequaled. With the Chief of Staff Sir Etekamba Umoren and Permenat Secretary Governor’s Office Aniekpeno Mkpanang as direct Principals, we toiled day and night to bring the world to Akwa Ibom. It was a welcome distraction of sorts, one that transported me from the chaos and cacophony that was the Nigerian sports environment. In one of such assignments, gone to Namibia to invite the CAF President to our commissioning , I found myself in the same plane with the Sports minister ( Remember The NFF President had been yanked from the flight ) Throughout the duration of the flight, to and from Namibia, in the business lounges , I sat through lots of experiences , trying to understand the minister and how the system works. In Namibia, President Hayatou could not understand and told our minister so, in very strong terms. Told him how Africa and the world was fed up with our unorthodox and bizarre way of running football. The CAF President could not understand how in one breath, a newly elected President of the NFF was granted audience by the country’s head of state, congratulated and wished well,

Waiting for Godot For me, Waiting for Godot is about a young man called Pinnick, who hit the ground running, but has been harassed, told to stop running and to walk only for him to step out of government house into the handcuffs of some overzealous security operatives! Hayatou said more, but more importantly he was going to ensure that our suspension by FIFA is put on hold, giving us enough room to make amends…... Unfortunately for me, after the grand and glorious commissioning of the stadium in which I was honoured by the NFF as Match Commissioner, I was jolted back to reality with the arrival of the analogue Eagles, come to qualify for the Nations Cup. A friend in Calabar, Cross River said he was waiting to laugh. That success was not in swapping venues, taking the Eagles to Abuja and then to Uyo. Success was more fundamental than that. Poor Governor Akpabio and his dear wife. He was so distraught throughout the match and said so, so many times. He could not bear to match and took a stroll some of the time. “…..NFF President, your boys are not playing well at all….” He had promised them heaven. How was he to know that they had reached MENopause? Fecundity was no more their portion! We all left the stadium that night knowing what to do. What we could have done months back, rebuild, move forward……alas, ‘we cannot…..’ ‘En Attendant Godot Waiting for Godot is an absurdest play by Samuel Beckett that found itself in my list of books during my year abroad programme as a student of French in Grenoble, France. It is a literary masterpiece centered on two characters Vladimir and Estragon, who wait endlessly and

in vain for only God knows what. It is a book that captivated me no end, one that I found very compelling, one that holds relevant today as it was, when it was written 66 years ago in 1948. Literary critics have gone ahead to consider this tragi- comedy as an existentialist philosophy, one in which Nicholas Lezard of The Guardian said last year,”…taught me the difference between being smart and being intellectual…” They waited for Godot “……instead meet a pompous man and his stooped over slave…” It is a play where you cannot depend on memory, one that reminds you that your world stops where another’s begins. The boy in the play comes to tell Vladimir and Estragon that Godot is no more coming today. Perhaps tomorrow…..tomorrow of course never comes, no wonder Vladimir says “ Hope deffered maketh the something sick” a clear corruption of Proverbs 13:12. For me, Waiting for Godot is about a young man called Pinnick, who hit the ground running, but has been harassed, told to stop running and to walk. He now sleeps with his eyes open, glued to his phones, waiting for that text, that call that will tell him, “…….you were right. We made a mistake. You can now proceed”. Not today. Perhaps tomorrow! Waiting for Chuka If Beckett’s play was scanty, not so the 1224 page compilation called Sports Spectacular by Chuka Momah. I will and very soon too, take you through this must read masterpiece that reveals as we have found above that some of those things intellectuals like Chuka chronicled over ten years ago are still relevant today. Dan Agbese called him a ‘maestro’, a reporter, columnist and commentator with so much all round mastery in sports…..just wait. The Security Question I end with acknowledging all the congratulations on my appointment for the Nations Cup as Security Officer. It was George Aluo of the Sun who said “ oga why security?” Interestingly, with Bolaji Ojo Oba we are the only two trained FIFA and CAF security Officers in the country. I am not talking about policing but stadium risk, safety and security regulations and assessments, spectators, officials, VIP and teams safety, emergency, crowd management and evacuation, access control, signages, ticketing…..by the time you get to the elevated status of General Coordinator in FIFA and CAF, you would have been grounded in football security matters. Nations Cup without Nigeria? Na today? See you next week.

AFCON: Hayatou laments Eagles failure P

RESIDENT of the Confederation of African Football (CAF), Alhaji (Dr) Issa Hayatou has affirmed that failure to qualify for the 30th Africa Cup of Nations has not diminished the importance of Nigeria to the entire structure of African football. In a chat with President of Nigeria Football Federation, Amaju Melvin Pinnick after the Draw Ceremony for the championship in Malabo, Equatorial Guinea on Wednesday, Hayatou admitted that the entire African football family will miss the Super Eagles at next year’s finals. “The whole of Africa will miss Nigeria in

Equatorial Guinea. But the absence will not in any way diminish your stature as a very big and influential nation in the African game.

“It would have been good to have the defending champions here. Nigeria brings so much value to the Africa Cup of Nations."

Fresh praises attitude of elite referees in London

HAIRMAN of the Referees Committee of Nigeria Football Federation, Alhaji Yusuf Ahmed Fresh on Sunday praised the general attitude and commitment of Nigeria’s elite referees who are presently on a two –week capacity enhancing programme in the United Kingdom. Fresh, also a Member

of the NFF Executive Committee, is also the leader of delegation at the programme. “I am enamoured by the spirit that the referees have brought to this programme. They have shown total dedication and I am very proud to be leading this group of worthy ambassadors,” Fresh said on telephone from London.

ALL IN VAIN . . . Super Eagles attacker Ikechukwu Uche (l) beats South Africa’s midfielder Dean Furman during their 2015 Africa Cup of Nations last qualifier at Akwa Ibom stadium in Uyo. Photo: AFP.

60 — Vanguard, MONDAY, DECEMBER 8, 2014

Messi bags hat-trick in Espanyol rout A

Lionel Messi hattrick inspired Barcelona to a crushing 5-1 derby win over city rivals Espanyol in La Liga yesterday. Luis Enrique’s men were punished for a sluggish start as Barca academy product Sergio Garcia gave the visitors an early lead, but the hosts eventually found their rhythm and La Liga’s record goalscorer Messi struck three times in another comprehensive victory. Barca eventually levelled just before the in-

terval, however, as Messi curled a delightful strike past Kiko Casilla and he completed the turnaround early in the second period, with Gerard Pique swiftly adding a third. Espanyol never posed any threat of a comeback of their own, and Pedro got his name on the scoresheet with 14 minutes left before Messi subsequently completed his hat-trick soon after, ensuring Barca close back to within two points of pacesetters Real Madrid.

By Jude Opara, Abuja

Man U out to topple Southampton

OUIS Van Gaal’s resurgent Manchester United will have their eyes on third place in the Premier League table when they tackle Ronald Koeman’s sputtering Southampton at St Mary’s today. Victory for United will lift them above Southampton into third place and allow Van Gaal’s team to close to within

eight points of leaders Chelsea, who crashed to a 2-1 defeat at Newcastle United on Saturday. Van Gaal has warned his players not to get ahead of themselves. “Southampton play better and have more points than Liverpool, so I think it’s good that we have to play Southampton now,” the United manager said.

*HAT-TRICK MESSI.....Barcelona’s Lionel Messi (L) celebrates with Neymar Santos Jr (C) after scoring during yesterday’s match against Espanyol at Camp Nou. Barca won 5-1.

was not paid. As at the World Cup, FIFA had not paid the money but the team held Nigeria to the jugular before President Goodluck Jonathan fell to their blackmail and, through Sports Minister Tammy Danagogo, sent the money in a chartered aircraft to Brazil to the team. Unfortunately, the team concentrated more in sharing the money

S Ikoyi Club 1938 celebrates its International Night on December 12 to reward

sports men and women who excelled in sports in the outgoing year, Geowash Nigeria has

than the match at hand. The sharing was on till 3 to 4 am on the same day they had a 5 pm match. They lost to France 2 - 0 at the Estardo Nacional in Brasilia to exit the World Cup. The players were so fatigued and paid the price. That was the beginning of a new phase of crisis in Nigerian foot-

ball. There had been fears and speculations that when FIFA finally pays the money, the $3 million released by Government might develop wings. But Sports Vanguard gathered authoritatively that NFF would return the money to the Government in what many observers have termed a rare show of transparency and accountability. Secretary-General of the federation Musa Amadu said last week that the federation would return the money to the Federal Government. The board confirmed last night that this will be done this week. The Pinnick-led Board had been weathering a lot of storm since after being elected in Warri. One of their recent laudable efforts was sending 11 Nigerian elite referees to the Premier League in the UK to enhance their capacity and to be able to improve the lot of football on the Nigerian domestic scene.

Shearer slams Mikel over Chelsea loss N

EWCASTLE Unit ed legend Alan Shearer has blamed Nigeria international Mikel Obi for Chelsea’s 2-1 loss at Newcastle on Saturday to end their unbeaten run. Shearer said Mikel did not do well enough in the midfield emphasising that Jose Mourinho side missed suspended Nemanja Matic. “Chelsea didn’t play that well,” Shearer told

BBC Sport. “There is no doubt they missed Nemanja Matic. He has started every game for them this season but John Mikel Obi was in there against Newcastle and didn’t do as well. “In the build-up to Newcastle’s second goal, Mikel dives in, Eden Hazard dives in. There is no one sitting in front of the back four. “That said it was a really committed Newcas-

HAIRMAN of the National Sports Commission (NSC), Dr Tammy Danagogo has tasked winners of the NPA Tennis Open, which ended weekend in Abuja to produce medals at next year’s All Africa Games Represented by the Deputy Director, The Federation and Elites Athletes Department (FEAD), Caleb Gidado, Danagogo also lauded the Nigeria Ports Authority for sponsoring the tournament. “The NSC hopes that the players that won this competition, both the singles and mix-doubles winners would be medal prospects in next year’s All African Games and the 2016 Olympics through the backings of the NPA”.

Geowash supports Ikoyi Club 1938 A

NFF returns N510m Continues from BP World Cup in Brazil which the Federal Government paid for the team to play their second round match of the World Cup against France. The Eagles had boycotted training and threatened not to play the match against France if the allowance from the FIFA largesse

Danagogo tasks winners of NPA tennis

tle performance. They were really well organised and every player knew what job they had to do. It was a thoroughly deserved win.” The Serbia international who has scored a goal and two assists in 14 EPL games was suspended for the trip to ‘The Magpies’ after he picked up his fifth booking of the season in a 30 victory over Tottenham Hotspur.

pledged to support the club to make the event a successful one. Country Director of Geowash, Prince Joshua Akpabio, said that firm would exhibit its product and services as part of its sponsorship of the event. “Geowash Nigeria is proud to be a Co-Sponsor at the International Night of Ikoyi Club 1938 taking place at the n in Ikoyi Club “At Geowash we provide a premium service

and extreme attention to detail, we clean, polish and detail all interior surfaces with a micro fibre towel with our GEOWASH biodegrable formular”, added Akpabio. He noted that attendees, during the event could visit the Geowash booth and get their cars washed as well as speak to their representatives about the company ’s product and services as well as franchise opportunities.

Siasia battles Arsenal over Ajayi

OACH Samson Siasia is hoping that the Nigeria Football Federation will be able to secure the release of Arsenal center back Semi Ajayi for Nigeria’s Under 23 training camp, according to his agent. Coach Samson Siasia has always maintained that the 21-year-old was in his plans, and true to hiwords, he has summoned the ex Flying Eagles defender along with 46 other players for a screening exercise. But club commitments with the Gunners might

prevent Semi Ajayi from embarking on the 2,960mile journey from London to Abuja this month. ‘’We are aware of his invitation but I don’t think Arsenal will release him. I am not sure they will, we will have to wait,’’ Semi Ajayi’s agent simply told SL10.ng. Only last year, Semi Ajayi was hoping to make the Flying Eagles squad, having trained with the team in Germany, but John Obuh surprisingly declared him surplus to requirements when he named his final roster.

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NFF returns N510m World Cup money to govt By Tony Ubani

MIDST the stormy weather in Nigerian football, the Amaju Pinnick-led Nigeria Football Federation, NFF, would score yet another goal in transparency and accountability today, when they return a whooping $3 million(N510 million) to Government. The money is part of the appearance fee of the Super Eagles to the •Continues on page 60

TODAY'S

AFCON: Hayatou laments Eagles failure —P59 Messi scores hat-trick *Issa Hayatou

PUZZLE

Siasia battles Arsenal over Ajayi —P60

YESTER DAY'S YESTERDAY'S

ANSWERS

WATCH YOUR BACK.......Newcastle’s Papiss Cisse (left) pursues Chelsea’s John Obi Mikel during the weekend’s EPL match at St James’ Park. Newcastle won 2-1.

Shearer slams Mikel for Chelsea loss —Pg 60 QUICK CROSSWORD Across: 2 Concerning (5) 7 Divide (4) 8 Diminish (6) 9 Each (5) 11 Lettuce (3) 13 Whelp (3) 15 Cable (4) 16 Fruit (3) 18 Naked (4) 19 Lockjaw (7) 20 Standard (4) 22 Boss (4) 23 Pulling (7) 25 Cheese (4) 27 Heated (3) 28 Liberate (4) 30 Noise (3) 31 Stray (3) 33 Rescued (5) 36 Astounded (6) 37 Assistant (4) 38 Cede (5)

Down: 1 Forbidden (5) 2 Consumed (3) 3 Poem (3) 4 Attempt (3) 5 Unusual (3) 6 Scrub (5) 10 Vanquish (4) 11 Cowered (7) 12 Austere (7) 13 Grassland (7) 14 Drug-seller (7) 16 Whinny (5) 17 Pollute (5) 18 Coach (3) 21 Silent (3) 24 Jot (4) 26 Lament (5) 29 Wear (5) 32 Owns (3) 33 Pig-pen (3) 34 Strive (3) 35 Father (3)

YESTERDAY'S SOLUTIONS

ACROSS: 1, Plead 5, Supple 8, Roost 10, Barren 11, Eden 14, Morose 15, Pervert 18, Get 19, Oil 21, Dent 23, Lurid 24, Welt 27, Set 29, Eel 31, Descent 32, Dealer 34, Flea 35, Abated 38, Tulip 39, Decree 40, Teeth.

DOWN: 2, Lea 3, Arrive 4, Doe 5, Stem 6, Peered 7, Expect 9, Onerous 12, Dog 13, Note 16, Ease 17, Tired 20, Literal 22, Noon 24, Wedged 25, Leaf 26, Teller 28, Scrape 30, Lee 33, Rate 36, Bit 37, Eat.

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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