2015: PDP hands over party structures to govs by Vanguard Media Limited

VOL. 25: NO. 62266

NBA, NLC, Falana blast FG, Police over removal of Tambuwal's security aides 4

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MONDAY, NOVEMBER 3, 2014

MUBI: Boko Haram still in control as 9 3,000 relocate

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...towards a better life for the people

2015: PDP hands over party structures to govs

By Soni Daniel & Henry Umoru

•Presidency, party empower them to choose successors •Governors free to go to Senate but must return Jonathan A •Abacha, Murtala Muhammed's sons gun for Kano gov

BUJA—THE Peo ple’s Democratic Party (PDP) governors have won a major victory over the party's leadership ahead of the 2015 elections by securing the nod of the Presidency to Continues on Page 5

COLUMNISTS:

Inequity in govt's revenue drive•P.40

Tambuwal: Kudos to Police •P.47

Mr & Mrs

DISPLACED PERSONS IN NIGERIA—President, American University of Nigeria (AUN) Yola, Prof. Margee Ensign sympathizing with some Internally Displaced Persons, IDPs at Damare IDP camp in Fufore LGA of Adamawa, yesterday. Below left: A group of donors with victims of attacks in Riyom LGA of Plateau State after donating relief materials to them, yesterday. Below right: Imam Abubakar Hussaini (R) preaching during a special prayer for peace and an end to insurgency in Nigeria at Yola praying ground also yesterday. Photos: NAN.

Ward congresses magnify PDP's crises nationwide 7

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By Victor Ahiuma-Young, Simon Ebegbulem, Gabriel Enogholase & Johnbosco Agbakwuru

IGERIA Bar Association, NBA and Nigeria Labour Congress, NLC, weekend berated the Federal Government and the Police over Thursday’s removal of security aides of the Speaker of the House of Representatives, Alhaji Aminu Tambuwal, for defecting to All Progressives Congress, APC, describing the removal as unconstitutional and shameful. This came as human rights activist and Lagos lawyer, Mr. Femi Falana, petitioned the Acting Inspector-General of Police, Suleiman Abba, accusing him of bias in withdrawing security aides to Tambuwal, and cited other instances of police bias in the country. NBA and NLC demanded immediate restoration of Tambuwal’s security aides and all the rights and privileges accruing to the Office of the Speaker, insisting that it was not about Tambuwal, but the office.

NLC demands restoration of security aides

NLC in a statement by its General Secretary, Dr. Peter Ozo-Eson, titled “Nothing should happen to Tambuwal”, wondered why the security aides of Governor Segun Mimiko of Ondo State and Ali Modu-Sheriff, former governor of Borno State respectively, were not removed when they defected to the Peoples Democratic Party, PDP, arguing that it was nothing short of double standard. According to the statement; “We at the Nigeria Labour Congress are appalled by the withdrawal of security details of the Speaker of the House of Representatives, Alhaji Aminu Tambuwal ostensibly because he had defected to the All Progressives Congress, APC. The act is shameful, distasteful, unconstitutional and demonstrates our parochial sense of power and very little knowledge of history. No part of the Nigerian constitution says the Speaker of the House of Representatives should come from the majority party. Section 50(1)(b) only says, “There shall be a Speaker and a Deputy Speaker of the House of Representatives, who shall be elected by the members of that House from among themselves. “In the Second Republic, the Speaker of the House of Representatives, Chief Edwin Ume-Ezeoke was elected from the ranks of NPP, not just an opposition party, but the third strong, after UPN and NPN. We have other precedents across the world. We find it appropriate to cite the examples of Mimiko and Ali Modu-Sheriff, governor of Ondo State and former governor of Borno State, respectively. Their security details were not withdrawn when they defected to the PDP. ''In the light of the foregoing, we demand immediate restoration

NBA, NLC blast FG, police for removal of Tambuwal's security aides zCall action shameful, unconstitutional; Falana petitions IGP of Tambuwal’s security detail and all the rights and privileges that accrue to the Office of the Speaker. It is not about Tambuwal, it is about the office which he holds. And in any case, only few, arguably, will contest that he has not discharged and acquitted himself as speaker. We would like to be on record that we will not fold our hands while little minds threaten our hardearned democracy. Nothing should happen to Tambuwal.”

NBA berates Police

Similarly, speaking in Benin yesterday after a meeting of the Midwest Bar Forum, President of NBA, Augustine Alegeh, SAN, argued that the police were wrong by removing security aides attached to the speaker because the police lacked jurisdictional competence to determine whether or not there had been a breach of the constitution in the defection of the speaker to the APC. According to him, “Section 68 of the constitution enumerates the procedure to be adopted by the National Assembly when a member defects from one party to another. Unless and until that procedure is followed and adopted, Aminu Tambuwal remains speaker of the House of Representatives. We have stated clearly that the police lacks jurisdictional competence to determine whether or not there has been a breach of the constitution. That duty is a function of the court. There is no provision in our constitution that says if you are in PDP or APC and you defect to another party you automatically lose your position of leadership of the House. “There is nothing in our constitution that says the speaker of the House or president of the Senate must come from the ruling party, all that must happen is that majority of members of the House must vote for him.

Falana accuses police of partiality

Falana, in a petition titled “Illegal policing of the republic”, accused the IGP of engaging in partisan politics to the detriment of law and order in the country, giving three instances, among others. According to the petition, first; “The Osun State governorship election, which took place on August 9, 2014 was almost marred by the Police and other security forces which arrested and detained over 700 leaders of the APC. Indeed, some electoral officers who were assumed to be members of the

JONATHAN CONDOLES WITH ALAMIEYESEIGHA: President Goodluck Jonathan (left) and former Bayelsa State governor, Diepreye Alamieyeseigha during the president’s condolence visit to Alamieyeseigha over the death of his son, Oyamuyefa, in Yenagoa, Bayelsa State, yesterday. APC were also railroaded to police custody. But for the personal intervention of Professor Attahiru Jega, the Chairman of the Independent National Electoral Commission, INEC, the said electoral officers would not have been released. Thus, the election would have been disrupted by the police and other security forces whose duty it was to maintain law and order during the democratic exercise. However, the detained APC leaders who were released after the election have not been charged to court for breaching the provisions of the Electoral Act or any other law whatsoever. “Second, Mr. Joseph Mbu, the controversial Assistant InspectorGeneral of Police in charge of Zone 7 of the Nigeria Police Force announced a ban any rally demanding for #bringbackourgirls within the federal capital territory. The ban was designed to assuage the feelings of some officials of the Federal Government who are embarrassed by being reminded of their constitutional duty of rescuing the over 200 Chibok girls who were abducted 6 months ago by the nihilist Boko Haram sect. In a judgment delivered last week, the Federal Capital Territory High Court declared the ban illegal, null and void on the ground that it constituted an infringement of the fundamental rights of the patriotic campaigners to freedom of assembly and expression guaranteed by the Constitution. In spite of the judicial indictment you have not deemed it fit to call Mr. Mbu to order for the reckless abuse of police powers.

“Third, you caused the security details of Aminu Tambuwal, the Speaker of the House of Representatives to be withdrawn last week on the ground that he had decamped from the PDP to the APC. As if that was enough, you decided to usurp the judicial powers of the federation which are exclusively vested in the courts by section 6 of the Constitution when you claimed that the Speaker had lost his office and seat as a federal legislator having contravened section 68 (1) (g) of the Constitution. By your illegal pronouncement you disregarded section 50 (2) (c) thereof which stipulates that the Speaker of the House of Representatives can only be removed by a resolution passed by votes on not less than two thirds majority of the members of the House.”

Subjecting Tambuwal to selective persecution

Continuing, Mr. Falana noted that “no doubt, your actions and utterances in the circumstance have exposed the Police to unwarranted ridicule as Nigerians are not unaware of the fact that when the Ondo State legislators elected on the platform of the Labour Party, LP, decamped to the PDP last month your office did not declare their seats vacant. In particular, you did not withdraw the security details of Jumoke Akindele, the Speaker who led her colleagues to dump the LP for the PDP. In the same vein, Ahmadu Fintiri, the Speaker of the Adamawa State House of Assembly and

his colleagues who decamped from the PDP to the APC and have since returned to PDP. You did not have cause to declare their seats vacant. Neither have you withdrawn the security details of the Fintiri. “Thus, by subjecting Aminu Tambuwal to selective persecution on ground that he decamped from the ruling party you violated his fundamental right to freedom from discrimination. As you are no doubt aware, it is a breach of section 42 (1) of the Constitution and Article 2 of the African Charter on Human and Peoples’ Rights to subject any citizen of Nigeria of a political opinion to disabilities, deprivation and restrictions to which other citizens who hold alternative views or opinions are not made subject. Since the security details of other Speakers who decamped from the APC and LP to the PDP have not been withdrawn those of Tambuwal were illegally withdrawn. They ought to be restored without any further delay. “From the information at my disposal your harassment of the Speaker was instigated by the Presidency. But having regard to section 215 (3) of the Constitution which enjoins you to carry out the “lawful directions” of the President of the Republic with respect to the maintenance and securing of public safety and public order the actions taken on the Speaker are illegal and unconstitutional in every material particular. ''Therefore, you should withdraw your pronouncement on the office and seat of Tambuwal and advise the ruling party to seek redress in the Federal High Court on the constitutional implications of the defection.''

Vanguard, MONDAY, NOVEMBER 3, 2014—5

POCKET CARTOON Oden Ajumogobia.

2015: PDP hands over party structures to govs Continues from page 1 control the political structures in their states. Under the new arrangement, which was wrapped up at the weekend, the outgoing governors have been given the go-ahead to pick their successors and also go for any other office of their choice provided they ensure maximum support for President Goodluck Jonathan’s reelection bid. The new development will enable no fewer than seven PDP governors pick their successors and also go to the Senate next year. A top PDP official told Vanguard, yesterday that President Jonathan directed the National Chairman of the party, Alhaji Adamu Muazu, to hand over the political structures in the respective states to the governors. The development, which has effectively strengthened the governors against all other contenders in their respective states, is however, against the party’s earlier position to allow a level playing field for all aspirants to contest the election. Muazu, it was learnt, had maintained that position until Friday afternoon when the Presidency reportedly asked him to allow the governors to have their way so as to give the President 100 per cent support during his election. The national chairman was reported to have insisted that the party structures should be managed by the national leadership of the party to ensure that every aspir-

ant had a sense of equity and justice. Muazu had agreed with the governors to either choose their successors or go to the Senate rather than take the two simultaneously in order not to generate bad blood among the other stakeholders in the respective states.

Powers of a governor

However, the Presidency is said to have been warned by political strategists to reverse the position of the National Working Committee (NWC) headed by Muazu to win the support of the governors described as the key determinants of his victory. The presidential directive may have been responsible for the freedom given to most of the governors to decide on the delegate lists of their respective states to be used in choosing candidates for the different elections slated for next year. President Jonathan had two weeks ago alluded to the enormous powers of governors in deciding the fate of the President in presidential primary election. He said: “The PDP constitution as currently practised gives a lot of room for the governors to influence the election of the President. So, if a governor who claims to support you cannot give you at least 70 per cent of the votes, then you should know that that governor does not mean well for you.”

Rat race in states

In spite of the new di-

TAKE HEART BY ELLA RANDLE

"Things turn out best for people who make the best out of the way things turn out.”

AVING and maintaining a positive attitude is vital for success in life and business. Zig Ziglar gets it right when he says, “It is your attitude, not your aptitude that determines your altitude.” Sure you need skills, but you can learn skills, keeping a positive attitude will make it much more likely that you will learn the skills necessary to succeed. If you take two people with equal skill, the person with the better attitude will win. Unfortunately it is not always easy to stay positive and keep a good attitude. As challenging moments come throughout your day, it is easy to let negative thoughts slips through unconsciously but really practicing gratitude helps keep a positive outlook, and this could be through prayer, meditation, reading uplifting books or simply being grateful for life’s moments. Remember, that you can’t start the next chapter of your life if you keep re-reading your last one.

rective from the Presidency, a host of the aspirants are upbeat on their chances ahead of the November 29 governorship primaries, if the number of those who have bought the PDP nomination forms is anything to go by. The PDP national leadership last Thursday extended the sale of forms for governorship, senatorial, House of Representatives and state houses of assembly elections. Vanguard gathered at the PDP National Secretariat that there was shortage of forms for aspirants, while the State Executive Committees were alleged to be hoarding the forms, only to return them unused at the end of the exercise. PDP National Publicity Secretary, Olisa Metuh, last Thursday announced that the National Working, NWC, had extended the deadline for the sale of nomination forms for all categories of aspirants, which according to the party, ought to have closed on October 30. He added that sale of forms will now end this week.

24 PDP aspirants battle for governorship in Rivers

For the Rivers race, 24 aspirants, as of last Friday had purchased their expression of interest and nomination forms to contest on the platform of the PDP for the seat presently occupied by Governor Chibuike Amaechi of the All Progressives Congress (APC). They are: Mr. Nyesom Wike Dr. Silva Orusunju Bernard Barida Mikko Emmanuel Georgewill Biobele Odesola Capt. Nwankwo Sunday Friday Abu Atedogh Hart Gabriel Pidomson Ibinabo Michael West Alabo Samuel Horsefall Baridam Monday Ngerebara Adamu Engr. Reynolds Dagago-Jack Duno Lulu-Briggs Prince Tonye Princewill Atamuno Atamuno Dumbari Dimkpa Fafaa Dan-Princewill Nimisoere Welson-Jack Oseleya Dominic Ojuka Major Lancelot Anyanya (rtd) Senator Lee Maeba Tamununosis Gogo Jaja

It’s 22 for Delta In Delta State, those who want Dr. Emmanuel Uduaghan’s job and have purchased the PDP forms include: Victor Ochei Senator Ifeanyi Okowa Ovie Omoh-Agege Tony Chucks Obuh Professor Sylvester Monye Senator Emmanuel Aguariavwodo Elder Godsday Orubebe Olorogun Kenneth Gbagi Mrs Esther Uduehi Andrew Warri Ndudi Godwin Elumelu Opone Johnson Ossai Dr. Akwara Oghenovo Prince Sam Obi Ndidi Rose Ofonwe Abunam Ngozi Olejeme David Edevbie Godswill Monday Obielum C h a r l e s Chukwuemeka Chief Gabriel Chukwuma Oyibode Akwa Ibom: PDP gets 25 governorship racers In Akwa Ibom, there is a litany of 25 PDP hopefuls angling to succeed Governor Godswill Akpabio. In this league are: Senator Helen Esuene O. Etteh Nsima Ekere Umana Okon Umana Obong Bassey Albert Ime Bassey Albert Benjamin Okoko Udom Emmanuel Asuquo Asuquo Okon David Stephen Okon Ekpenyong Eyo Ntekim Obong Bassey A. Akpan Prof. Richard Peters King Pastor Ita Uno Udoh Effiong Etim Abia. Amb. Assam Ekanem Assam Bishop Samuel Akpan Dr. Samuel Udonsak Okon Ikpong Dr. Jerome Isanngedihi Ime Effiong Ekanem Anietie Jonny U Udom Gabriel Emmanuel Lady Roberta Nyong Lawrence Bassey Esin Effiong Usim Dr. Peter Esuh Michael Etuk Engr. Patrick Akpan

Imo: 22 for Okorocha’s jugular

Those who want to sack Governor Rochas Okorocha of Imo State on the platform of the PDP are 22, namely: Senator Ifeanyi Araraume Chuka Odom Chief Ikedi Ohakim Senator Christiana Anyanwu Emeka Ihedioha

Chief Charles Onyeabbako Evang. Chris Brown Amadi Senator Bright Nwanne Ifeyinwa Maureen Okafor Dr. Obioma Agomuwa Amb. Obinna Adim Humphrey Anumudu Prof. Jude Njoku Ken Njemanze (SAN) Bethel Nnameka Amadi Chief Mike Ahamba (SAN) Ken Ojiri Chief Clara Njoku Dr. Charles Amange Dr. Julius Kpaduwa Chief Jerry Chukwueke Obioma Success Akagburouke

Abacha, Murtala Mohammed’s children enliven race in Kano For Kano State, those who want to succeed Governor Rabiu Kwankwaso on the banner of the PDP are sons of two former military heads of state – Mohammed Sani Abacha (late General Sani Abacha’s son) and Abba Risqua Murtala Muhammed (son of late General Murtala Muhammed) as well as Ahmed Mansur.

Niger: 10 seek Aliyu’s ‘anointing’

There are 10 aspirants jostling to succeed Governor Aliyu Muazu Babanginda of Niger State. The aspirants are: Umar Mohammed Nasko Peter Ndobake Gana Alhaji Sale Sahabi Ahmed Musa Ibeto Col. Aminu Kontagora (rtd) Muazu Sarkin Sudan Hamfi Mustapha Bello Senator Nuhu Aliyu Alhaji Garba Mohammed Dukku Alhaji Mohammed Yahaya.

The hot race in Oyo

Those who purchased the PDP forms and want to stop Senator Abiola Ajimobi of the APC from getting a second term in Oyo State are: Otunba Adebayo AlaoAkala Senator Teslim Folarin Oluseyi Abiodun Makinde Dr. Owolabi Babalola Prof. Taoheed Adedoja Engr. Femi Babalola Prof. David Adejumo Alhaji Hakeem Gbolarumi Dr. Azeez Adeduntan Ayo Ademola Adeseun

In Benue, it’s 18man contest The 18 contenders jostling for the PDP ticket to take over from Governor Gabriel Suswam in Benue are: Dr. Samuel Ortom Samuel Ode Chief Steven Lawani Prof. David Ker Chief Mike Aondoakaa Dr. Eugene Aliegba Adum Alex Tera Engr. Roseline Ada Chenge Dr. Matthias Oyigeya Terhemen Tarzoo Comrade Simon Anchaver Gabriel Twuhrm Nyitse Engr. Felix Atume Dr. James Twwuhe Mbachintin Prince Anov Akhayar Uwouki Terhemba Nongo Dr. Terhemba Shija

Abia: 11 hopefuls fight for PDP ticket

In Abia State, the 11 hoping to win the PDP flag and thereafter contest the governorship election to succeed Governor Theodore Orji are: Senator Enyinnaya Abaribe Senator Nkechi Nwaogu Dr. Uchechikwu Sampson Ogah F.N. Nwosu Chief Chukwuemeka Wogu Dr. Okezie Ikpeazu Orji Iheanacho Okezie Eric Acho Nwakanma Amb. Okechukwu Emuchay Dr. Alex Otti Marc Wabara.

6 — Vanguard, MONDAY, NOVEMBER 3, 2014

Wife bathes husband with acid in Enugu By Austin Ogwuda

N U G U — A housewife in Enugu State has allegedly bathed her husband with a substance suspected to be acid during a serious quarrel over an unresolved issue. The woman (names withheld) was reported to have fled her home after committing the dastardly act. State Police Public Relations Officer, PPRO, Mr. Ebere Amaraizu, who confirmed the incident yesterday, said investigations had commenced in full scale to establish the circumstances surrounding the act. He added that efforts had also been intensified to ensure that the suspect is arrested and brought to book. “The suspect and victim are all living in the same compound until the unfortunate incident which c o u n f o u n d e d sympathizers. “It was gathered that on the said day, October 21st, in their premises at Umuezebi Nsukka around 7pm, suspect had allegedly poured a corrosive liquid substance believed to be acid on the 30-year-old victim, identified as Onah Victor, over an unresolved issue between the victim and the suspect.''

Cattle rustlers kill 42 in Zamfara By Salisu Maradun

USAU—NO fewer than 42 people were reported to have been killed at Gidan Kaso town of Birnin Magaji Local Government area of Zamfara State by a group of suspected cattle rustlers, while properties worth millions of naira were also destroyed. The tragedy, which was not happening for the first time occured when the herdsmen launched an attack on the village and commanded the villagers to either surrender their animals to them or be killed. Some of them complied with the directive, but those who refused to obey were instantly fired at, resulting in their death, while others, in an attempt to escape got serious injuries. An eye witness told Vanguard that the cause of the attack came, following the killing of one of the herdsmen whose colleagues vowed vengeance. “For the past 20 days now, these people have been threatening the residents of this town that they will attack it, and since then, the people have not been themselves, following the fear put in their minds by the threat,” eye witness said. It was also revealed that on the day of the attack, the hoodlums suddenly entered the town after destroying the farm produce of the residents who now felt that the only option to them was to launch a counter attack on the hoodlums. “Immediately the hoodlums entered the town, they opened five indiscriminately on whoever they came across, irrespective of sex, as one woman was among those killed,” explained Sahabi Mai Taya, a resident of the town, who narrowly escaped death. Sahabi said he lost one of his relatives in the attack and that all his farm produce were

MEND’s alleged threat: Coroner Inquest must continue — ARTHUR WORREY By Bartholomew Madukwe

XECUTIVE Secretary of Lagos State Security Trust Fund, LSSTF, Fola Arthur-Worrey, yesterday called for continuation of the Coroner Inquest investigating the collapse of a guest house within the Synagogue Church of All Nations, SCOAN, on September 12, which claimed 116 lives. His call came against the backdrop of an e-mail purportedly sent by Movement for the Emancipation of the Niger Delta, MEND, which threatened an imminent attack at the venue, Ikeja High Court. Speaking with Vanguard on the

alleged threat by the Niger Delta militant group to attack the Coroner Court, Arthur-Worrey urged the police and other security agencies to take appropriate steps in securing lives and property at the court. He said: “We must not allow anybody to have impression that he is above the law, whether presidents visit him or not. This is a local issue, it is about local planning. The process at the coroner inquest is bound by the law, even Jesus said give unto Caesar what is Caesar’s. “The process should continue. We must not as a country be governed by threats. We must be governed by the rule of law.''

destroyed by the criminals, who up to the time of filing in this report were at large. Numbering about 80, the suspects were also said to have wielded dangerous weapons, including AK47 rifles, axes, sharp knives and cutlasses among others. The town was deserted when our reporter visited, as those who survived the attack had moved out along with

their remaining animals. Chairman of the council, Alhaji Aminu Sani Jaja, told Vanguard that only 15 people were killed and three houses burnt, including that of the chairman of the vigilante group in the area. Jaja stated that those killed had since been buried, while those injured were receiving treatment at various health institutions in the council.

He called on the entire people, particularly the affected town, to always report any suspicious character to the nearest authorities, and also continue to pray for peace in not only the town, or local government, but also the state and nation in general. All efforts to talk to the spokesperson of the state police command, DSP Lawal Abdullahi, proved abortive as all his phone lines were switched off.

CULTURAL FESTIVAL: Cultural dance groups at the 2014 Zaar (Sayawa) annual cultural festival in Tafawa Balewa Local Government Area of Bauchi State on Saturday. Photo: NAN.

EFCC docks branch manager over N10m scam By Austin Ogwuda

NUGU—THE SouthEast zonal office of Economic and Financial Crimes Commission, EFCC, in Enugu has arraigned the branch Manager of Bestworth Assets and Trust Limited Benin City, Mr. Justus Imona Russell, over N10 million scam. He was arraigned last Friday before Justice C.F. Ikponmwen of the State High Court 2, Benin City, Edo State on a four-count charge of obtaining by false pretence and forgery. His arrest was sequel to a petition by Professor Austin Obasohan of Bupa Medical Centre, Benin City, who alleged that he made an investment with Bestworth Assets and Trust Limited for the purchase of shares through the company’s Benin branch Manager, Mr. Justus Imona Russell, to the tune of N10 million. EFCC prosecutors told the court that at the time of maturity when Obasohan demanded for payment of his money, he was told by Russell that it was being rolled over for another three months due to a problem being experienced by the company. “After three months when he further requested for his N10 million, the company informed

him that there was no record of his transaction in their system and that the manager may have carried out the transaction in his personal capacity or that he may have terminated his transaction with the company. “Investigations into the allegations revealed that Justus Imona Russell’s appointment with Bestworth was terminated in November, 2011, and while

the business transaction took place on May 31, 2012. “That Justus Imona Russell was still transacting business in the name of Bestworth Assets and Trust Limited, using all documents bearing Bestworth Premium Fund which he gave to Professor Obasohan to give the impression that the Money was invested with Bestworth Assets Limited,” the prosecutors said.

Generator fumes kill two brothers in Bauchi By Suzan Edeh

A U C H I — G E N E R AT O R fumes have reportedly killed two brothers in Tafawa Balewa local government area of Bauchi State. The victims, Salmanu Adamu, 27 and Suleimanu Adamu, 29, who are sons of a traditional ruler known as Adamu Sarkin Dimsini, died inside the well in the family compound. The brothers were instructed by their father to clean the well with the aid of a generator pumping machine.

The deceased brothers took the generator inside the well to pump out the dirty water when tragedy struck. Their father, Adamu, it was learned, became suspicious when his sons did not come out of the well after some hours. It was later discovered that the brothers suffocated to death due to emission of carbon monoxide from the generator, which filled the well. Confirming the incident, the State Police Public Relation Officer, DSP Haruna Mohammed, said Police detectives attached to Bununu Division visited the scene of the incident and evacuated the victims to the hospital for autopsy.

Vanguard, MONDAY, NOVEMBER 3, 2014 — 7

Ward congresses magnify PDP crises across the country By Marie-Therese Nanlong, Daud Olatunji, Tom Moses, John Mkom & Francis Igata

HERE were indications yesterday that the Peoples Democratic Party, PDP could be factionalised in many states on account of last weekend’s ward congresses. The ward congresses were held to elect three ward delegates to join statutory delegates who are the primary constituency for the nomination of candidates for elective offices at the federal and state levels. At the end of last Saturday’s exercise, the party was sharply divided in several states on account of alleged malpractices and sharp practises which allegedly characterised the exercise. In several states, losers alleged that there were no congresses while those who won claimed that the congresses were peaceful.

No congresses in Abia, senators allege

All three incumbent senators in Abia, Senators Uche Chukwumerije, Nkechi Nwaogu and Enyininnya Abaribe in a joint statement with some other stakeholders, including former managing director of Diamond Bank, Dr. Alex Otti claimed that there were no congresses in Abia State, a claim that was sharply rebuffed by Governor Theodore Orji who claimed that the congresses held throughout the state peacefully.

Chime's loyalists cry foul

In Enugu State, loyalists of Governor Sullivan Chime cried foul, alleging that there were no congresses on account of the purported “hijack” of the materials, a claim robustly rebuffed by the acting chairman of the party, Mr. David Aja, a loyalist of Senator Ike Ekweremadu, the deputy president of the Senate. Aja affirmed that the congresses held throughout the state under his watch as approved by the national secretariat. The Chime faction was yesterday preparing a petition to be sent to the national secretariat to disclaim the assertion of a free and fair congress.

16 gov aspirants boycott congresses in Rivers

In Rivers State, where 16 of the gubernatorial aspirants boycotted the ward congresses on the allegation that the state executive had skewed the process in favour of Nyesom Wike, former minister of state (education), the aggrieved aspirants yesterday reiterated their claim that there was no congress throughout the state.

party thugs mobbing him. Before the congress, security operatives had sealed the state headquarters of the PDP where Emeakayi operated from. At press time, a chieftain of PDP and former deputy senate president, Alhaji Ibrahim Mantu was still meeting with some stakeholders of the party in the state at Finotel Hotel in Awka. Though the final decision was not known yet, the Mantu-led committee was said to be working hard to accommodate all the interest groups in the party as it observed that allowing one faction to produce all the 978 ward delegates might not ensure peaceful atmosphere. Governorship candidate of PDP in last year’s election in the state, Comrade Tony Nwoye expressed satisfaction with the outcome of the ward congress, describing it as free and fair. He appealed to PDP members to remain peaceful even in the face of any provocation.

Criticism trails Oyo congress VISIT: From left; 1st Deputy Patron, Kaduna Chamber of Commerce and Industry, Mines and Agriculture, KADCCIMA, Alhaji Anwalu Makarfi; Patron, KADCCIMA, Alhaji Abidu Yazid; President, KADCCIMA, Dr. Abdul Bello and Vice President Namadi Sambo during a courtesy call on the Vice President by KADCCIMA, at the presidential villa in Abuja. Barr. Soalabo West, who spoke for the aspirants yesterday said about two thousand persons who bought the delegate forms from the Abuja office of the party could not submit them at the party’s state secretariat in Port Harcourt as the state leadership refused to accept them, saying they were not bought from the secretariat. Their claim was rebuffed by the state chapter chairman of the party, Mr. Felix Obuah, who said the congresses were peacefully conducted in all 319 wards. Continuing, he said those who called for postponement of the exercise were agents of the opposition All Progressives Congress, APC.

'Kwara exercise, a fraud'

In Kwara State, the major governorship aspirants, including Alhaji Jani Ibrahim and Sunday Babalola were as at press time still studying the outcome of the congress conducted by the Senator Iyiola Omisore-led panel, but a group of stakeholders in the party under the aegis of Kwara Democratic Assembly described the exercise as fraud. The group in a statement entitled, ”Brazen Electoral Fraud During Kwara PDP ward Congress” issued by its president, Comrade Kazeem Abiola” made available to journalists in Ilorin on Sunday. Alhaji Jani Ibrahim in a telephone interview yesterday said: ”We are still studying the situation. All the complaints we have made are being looked into, but presently we cannot give a conclusive reaction to the exercise.” In Ebonyi State, though the exercise was generally peaceful in most sections of the state, it was alleged that parallel congresses

were conducted in some areas including Amiri Ekoli ward in Afikpo South West Constituency, where a politician (name withheld) in the presence of a senior police officer in the area and State Security Service, SSS tore the ward electoral panel members’ list for Afikpo South.

Parallel congresses in Ebonyi

of the method adopted in the election as agreed during a meeting with the PDP leaders and Governor Olusegun Mimiko. Two of the three slots were given to the new PDP members in each ward while a slot was reserved for the Old PDP members to make the list of 609 delegates elected across the state yesterday. Speaking with newsmen during the congress, Adeleke commended party members for conducting themselves peacefully. However, the sacked state chairman of the party in the state Ebenezer Alabi said his executive also conducted a parallel congress across the state. Alabi said the congress was witnessed by both INEC and national officers of the party but their names were not given. Alabi said that “the only register that can be used for the Congress is the one in our custody and compiled more than 30 days ago.

Vanguard learned that there were parallel congresses in some of the wards by factions who are still laying claim to the leadership of the party in the state. They claimed that the new leadership of the party in the state did not meet the party’s guidelines for the selection of a new Chairman as the Acting Chairman that took over from Chief Ugorji Ama-Oti did not resign and was still in good condition of health. In Plateau State the congresses were held in 15 of the 16 local government areas while that of Pankshin Local Government Area Confusion in Anambra was cancelled on account of The situation in Anambra State alleged disagreement among almost turned bloody last night at PDP chieftains in the area. a popular hotel in Awka as the various factions in the state branch In Ondo, too of the party tried to ensure that The ward congress in Ondo their delegates elected weekend State was trailed by allegation of were accepted by the party. parallel congresses, a claim Before the congress, there was dismissed by the newly- a letter from the headquarters of appointed Caretaker Chairman of the Independent National the party, Dare Adeleke, who Electoral Commission, INEC, monitored the congress with a saying it has recognized the representative of the National faction of the party led by Mr. Secretariat Senator Lekan Ejike Oguebego. Mustapha. Following the letter, INEC staff Senator Mustapha said the monitored the congress congress was peaceful. conducted the Oguebego faction Mustapha noted that “this is the in the 326 wards of the state. first time I will witness a congress However, an attempt by the that will be very peaceful without chairman of another faction of any rancour.” the party, Prince Kenneth Vanguard learnt that the Emeakayi to question the INEC congress was crisis-free because decision almost led to some

In Oyo State, it was learnt that the results of last Saturday’s ward congresses would not be announced until all complaints that trailed the election were addressed. Heated criticism greeted the congress in the 33 local government council areas of the state. The complaints will be taken care of today by the party.

Ogun partially peaceful

In Ogun State, the congresses reportedly held on a shaky note as many of those who sought election as delegates could not submit their forms. Vanguard learnt that though the congresses were largely peaceful, but much of the activities were at the party secretariat, where some delegates who could not submit their forms protested in the morning, a development that led to the deployment of a detachment of mobile policemen to the secretariat.

...Same in Delta

In Delta State, the exercise was largely peaceful and there were no reports of serious violence or malpractice.

Despite Akpabio's N1m largesse to thugs, violence still ruled the day

In Akwa Ibom State, the prospects for unity were, however, bleak on account of violence which characterised the congresses in several parts of the state. Governor Godswill Akpabio reportedly tried to douse tension at the state secretariat by giving out N1 million to thugs at the secretariat, but that did not pacify them, forcing the governor to call in policemen.

Compilation of results yet to commence in Taraba

In Taraba State, though the congresses were held across the state, Vanguard learnt that the compilation of the results was yet to commence.

8 — Vanguard, MONDAY, NOVEMBER 3, 2014

Vanguard, MONDAY, NOVEMBER 3, 2014—9

2015: APC chieftains pray for Nigeria, Lagos By Olasunkanmi Akoni

HEAD of 2015 general elections, former head of state, Gen. Muhammadu Buhari (retd), who is also an All Progressives Congress, APC, presidential aspirant, National Chairman of the party, Chief John OdigieOyegun, national leader, Bola Tinubu, Governor Babatunde Fashola of Lagos State, Osun State Governor, Ogbeni Rauf Aregbesola, other APC governors and party loyalists will Friday, November 7, gather at Solution Ground, IbejuLekki, Lagos to pray for the state and Nigeria in general. The prayer crusade with the theme: “Peace Assured” is being organized by the Soul Winners International Ministries, led by Cardinal James Omolaja Odunmbaku, JP. The 2014 edition will be the 10th edition of the prayer crusade. According to coordinator of the crusade, Mr. Seyi Bamigbade, the three-day programme will kick-off on Wednesday, November 5, 2014 with praise and worship as well as free health checks for all participants.

NATCA issues 21-day ultimatum to NAMA By Lawani Mikairu

IGERIAN Air Traffic Controllers’ Association, NATCA, has issued a 21 day ultimatum to the management of the Nigerian Airspace Management Agency ,NAMA, to resolve all outstanding labour issues the agency has with its members or face industrial strike. The association in a communiqué jointly signed by President and General Secretary of NATCA, Victor Eyaru and Banji Olawode respectively, issued at the end of its 43rd annual general meeting and conference held in Kano State at the weekend further demanded that “all outstanding, unresolved and/or pending issues regarding Air Traffic Controllers’ remuneration, professional allowances and promotion and advancement in NAMA should be attended to within 21 days with effect from November 3, 2014.”

Mubi: Boko Haram still in control as 3,000 relocate By Levinus Nwabughiogu

IVE days after Boko Haram terrorists seized Mubi, the second largest town in Adamawa, the insurgents are still holding on to the town even as about 3,000 residents who managed to escape have joined other internally displaced persons at an NYSC camp in Yola. Some of the survivors of the invasion have also recounted their ordeals. Most of them who ran for safety were students of the Federal Polytechnic, Mubi. Explaining her ordeal to Vanguard in Yola, weekend, one of the students, Gift Ugo, a Mass Communications undergraduate of the Polytechnic from Abia State who said she spent four days in the bush where she hid from the prowling eyes of the insurgents said it was a miracle that she escaped alive. She said: “I am based in Kaduna but schooling in Federal Polytechnic, Mubi, Adamawa. I am studying Mass Communication. Actually, the incident happened on Wednesday morning although we never knew it would be that serious as the jets were dropping

bombs. We had thought it was the usual incident that would just pass by but before we realized it, sounds of gunshots were everywhere. About 150 students ran to Cameroon border and were accommodated by the Cameroonian soldiers but we decided to stay back in the hostel to see how safe it would be until they called us that an HND 1 Accounting student had been killed. We were told that the crisis spread into the school premises as the university had been burnt down while the next target would be the Polytechnic. “We had to run for our lives. We tried to get to where we could get a vehicle because the roads had been taken over by the insurgents. We saw them with our eyes. They have blocked all the access roads leading to the town, so nobody could leave or enter the town. The moment you come into the town, you are sure you are going to die and if you were inside the city, you had to run for your life because nowhere is safe inside Mubi right now. We have not been eating anything. We were just taking water with thorns piecing through our legs.

Obanikoro calms rumblings in Lagos PDP By Charles Kumolu

ORMER Minister of State for Defence and governorship aspirant on the platform of the Peoples Democratic Party, PDP, in Lagos State, Senator Musiliu Obanikoro, has denounced reports that the party had pruned the number of aspirants to four, noting that a level playing field should be created for a successful primaries. He also dismissed claims that he was made a minister as a condition that he would not contest the governorship position in the state. Obanikoro, who said this, yesterday, in Lagos, said he would return government to the people if elected governor. His words: ''It is not true that the number of aspirants have been reduced. I am not aware of that. Everyone is entitled to a level playing field. All of us in the race are men of impeccable record. We have distinguished ourselves in our various fields. I am confident of victory at the primaries because I am grassroots person, with grasp of the key issues in the state. ''There was no condition attached to my becoming a

minister. Mr. President who appointed me a minister did not say that it was a condition for me not to contest in 2015. Having risen through the ranks in public office, I am very confident that I have the wealth of experience to serve my people.

Walking in the bush for four days has not been easy for us.” Another student, Queen Samuel, an indigene of Benue State, studying Purchasing and Supply, also shared her experience. She said, “we have been running, we have lost almost everything. We trekked all the way from Mubi to Hong and got a cab that took us here. The situation in Mubi was very, very terrible. Immediately we left, we learned that the insurgents had burnt our hostel. There were gun shots and bomb blasts everywhere. We saw the Boko Haram people from the bush where we were hiding. Two of them were on a motor bike and some were riding in Keke Napep (tricycle) armed with guns, so we hid. It was by the grace of God that they didn’t see us. We spent three days in the bush. There was no security there at all in the town. Debora Fandum and Samuel Kasinda, both from Mubi whom Vanguard met at Damare Junction, a suburb of Yola said that though they escaped, they were still confused over where to go or what next to do. Meanwhile, the number of Internally Displaced Persons, IDPs, who were mainly victims of Boko Haram insurgency in Yola, Adamawa State, has hit 7662, Vanguard can authoritatively report. The figure, however, excludes 2633 new persons that were admitted into the permanent orientation camp

of the National Youth Service Corps, NYSC, at Damare, Yola, which is being used as camp for the IDPs. Most of the IDPs came from Mubi, which was invaded by the insurgents last Wednesday. Michika in Adamawa State, Yobe and Borno states, largely known to be the hotbeds of the terrorists. Consequently, the sudden increase in the number of people has thrown up many challenges for the camp officials. For instance, the camp is now contending with insufficient mattresses, mats and toilets, just as the security around the camp is giving the camp officials some concern. Investigations revealed that most of IDPs have taken to open defecation which officials said was detrimental to the health of the people. Details of the number indicated that 3472 were males, while 4190 were females. Children below the ages of five constituted 782 of the number. Similarly, pregnant women were 76, while the number of children between the ages of 0-1 year was put at 175. The camp cooked an average of 12 bags of rice and beans on daily basis to feed the inmates. Confirming the number of the IDPs to Vanguard, the Commandant of the Camp, Mr. Ibrahim Hamidu, who was incidentally a Red Cross official from Gere Local Government of the State, said the camp was fully occupied.

L-r: Dr Rotimi Oladele, President, NIPR/Chairman Govering Council; Engr Mansur Ahmed, former Group Executive Director, Stakeholder Management and Corporate Communication with Mrs Odutola Oluranti, Permanent Secretary Ministry of Information and Strategy, Lagos State and Mr. Joseph Okonma, President, Nigerian Institute of Public Relations, NIPR, Lagos Branch at the first Lagos NIPR Stakeholders Conference with the theme, Effective Stakeholders Engagement and Corporate Profitability, in Lagos. Photo: Akeem Salau

Aregbesola cautions Burkinabes on military rule

SUN State Governor, Ogbeni Rauf Aregbesola, has called on the people of Burkina Faso not to allow military rule after the exit of Blaise Compaore. Aregbesola charged the Burkinabes to carry the revolution that ousted Compaore to its logical conclusion by forming a national government that will conduct

election in the shortest time possible. This was even as the Speaker, House of Representatives, Hon. Aminu Tambuwal, called on all stakeholders in the Nigerian project to get their acts together and ensure that a good leader is elected for the country in 2015. Aregbesola who spoke at a Victory Colloquium at the Eko

Hotel, Lagos, said the Burkina Faso situation was a signal to Nigerians to gird their loins and prepare for the February 2015 general elections. He said the organisation of elections will not come easy as the ruling Peoples Democratic Party, PDP, will want to use force it could muster to stay in power. While decrying the militarisation of election and

Federal Government’s lawlessness and impunity against political opposition in Nigeria, Aregbesola warned political office holders to comport themselves to civil rule so as not to give the military any excuse to take power as it is no longer fashionable for military coup in Africa.

10 — Vanguard, MONDAY, NOVEMBER 3, 2014

Fayose to embark on revenue drive, block loopholes By Gbenga Ariyibi

DO EKITI—THE party may be over in Ekiti State as the reality of a lean treasury may have dawned on the two-week old government of Mr. Ayodele Fayose. In view of the dwindling allocation from the federation account to the states, Ekiti State governor, Mr. Ayo Fayose, has pledged to jerk up internally generated revenue of the state by blocking all loop holes. Speaking through his Chief Press Secretary, Mr. Idowu Adelusi, in Ado Ekiti yesterday,Fayose said the economic recession that is negatively affecting the economy of the state called for sober reflection. He, therefore, appealed to the people of the state to look inward by supporting the government of the day in its bid to improve the finances of the state “From what is happening in the international oil market and the subsequent drop in federal allocations, it is obvious that we have to look more inwards in generating revenue and we appeal to those in charge to support us in blocking leakages and raising the bar,” he said. The governor also called on other tiers of government to support the executive arm in ensuring good governance

and development in the state. “Those in the House of Assembly and our judicial officers must know that we are all Ekiti people and we must work together to make our state great. Nobody should allow for distractions. No matter our political persuasions, the interest of Ekiti comes first,” he added. Fayose also expressed his readiness to accommodate all shades of opinions to jointly develop the state.

The governor said the administration would do everything possible to meet and even surpass the expectations of the people. He urged the people of the state to perform their civic duty of prompt payment of taxes, levies and rates, adding that the government would also be alive to its responsibilities. “We know the expectations are high and we are in a tough period as far as the economy is concerned. We are taking

note of all the advice given to us by people and groups. For instance, we appreciate the Ekiti Council of Elders on the advice that we embark on projects having quick and direct bearing on the welfare of the people. “We will not shy away from the provision of physical infrastructure, just as we will create the atmosphere for people to earn decent living and be able to take care of their emotional needs," he said.

ERIN-ILE DAY: From left: Kwara State governor, Dr. Abdulfatah Ahmed, Elerin of ErinIle, Oba Abdulganiyu Ajibola Olusokun (MFR) and Chairman, Oyun Local Government Area, Engr. Jimoh Adebayo Alao, during the 17th Erin-ile Day Celebration at Erin-ile, Kwara State, weekend.

New Police reforms yielding fruits —Minister O

By Gbenga Olarinoye

SOGBO—MINISTER of Police Affairs, Alhaji Abdul Jelili Adesiyan, has said that the on-going reform in the Nigeria Police Force has begun to yield positive results in the way the personnel attend to and handle issues related to criminal activities. The minister, who was fielding questions from the newsmen in his office in Abuja, weekend, said the Police were better informed nowadays compared to what was obtainable in the past. He added that with the purchase of new equipment and training and re-training of personnel, the menace of crime and insurgency would soon be totally checkmated. He said: “As part of the reform in the Police, today, we have Police University in Wudil, Kano State, admitting people through Unified Tertiary Matriculation

Examination, UTME, to pursue different courses. This is to enable our police officers to have at least minimum of first degree and this will bring out best among them and they will be able to compete favourably with their counterparts all over the world.” According to a statement by the minister ’s Media Aide,

Wale Akinola, Adesiyan was reported to have also explained that many countries have signified interest to partner with Nigeria through Public Private Partnership, PPP, in the area of security, adding that he would be leading a delegate to the UK this week to seek more knowledge about security education.

“I am very happy that many countries are ready to partner with us and before the end of this week, I would be leading a delegation to the UK for cross fertilization of ideas so as to have good knowledge about security. We are working towards achieving a situation whereby if you see a Nigerian policeman, he will be like a policeman in New York,” he added.

Ondo monarchs probe N74bn abandoned NDDC projects By Dayo Johnson

KURE—DISTURBED by the number of abandoned projects awarded by the Niger Delta Development Commission, NDDC, in the oil producing communities in Ondo State, a six-member committee has been set up to look into the matter. The estimated cost of the abandoned projects is put at about N74 billion while some of the projects had been awarded

about 10 years ago The committee is expected to advise the communities on what step to take. This was disclosed during a meeting by the Ilaje Traditional Chieftaincy Council with representatives of the contractors in Akure, weekend. The Olugbo of Ugbo-Ilaje, Oba Fredrick Akinruntan (CON) said the committee is to investigate why Ilaje communities have turned to a graveyard of abandoned

projects running into billions of Naira. The Chairman of the Chieftaincy Council who is also the Amapetu, Oba Lawrence Omowole, the Amapetu of Mahin and the Secretary, Oba Obafemi Ogbaro, the Odoka of ObeOgbaro and seven representatives of the companies handling the projects attended the meeting.

NUC chides varsities for offering unapproved courses By Daud Olatunji

BEOKUTA—THE N a t i o n a l U n i v e r s i t i e s Commission, NUC, has threatened that it would prevent students who take unapproved courses from being accommodated in the one-year National Youth Service Corps, NYSC, scheme. The commission chided some universities, particularly the private ones, for offering unapproved courses. The Executive Secretary of the Commission, Prof. Julius Okojie, said this at the 6th convocation of Bells University of Technology, Ota, Ogun State. While he did not mention the names of institutions guilty of this, he said they were only creating problems for their students who had taken the unapproved courses, because they would not be accommodated in the NYSC scheme. Okojie, who was represented at the event by NUC’s Director of Quality Assurance, Prof. Felix Majiana, said: “Every year, many graduates preparing for the one-year national service are stranded because their institutions offered them courses that were not approved by the NUC." The Vice-Chancellor, Prof. Adebayo Adeyemi, while congratulating the 326 graduands, said 18 were in the first class category, 96 in the second class upper while 127 and 85 graduated with second class lower and third class respectively. He said the 326 would join the existing 759 alumni, thus making a total of 1,085. Adeyemi said the institution had blazed the trail by being the first to produce the first set of Biomedical and Mechatronic engineers within the Nigerian university system.

Vanguard, MONDAY, NOVEMBER 3, 2014—11

Maritime workers shut marine transport in Bayelsa By Victor Ahiuma-Young

ARITIME Workers Union of Nigeria, MWUN, weekend, shut all marine transportation in Bayelsa State over high rate of killings, kidnappings, attacks and rapes, among other violent crimes by suspected militants and pirates. President-General of MWUN, Mr. Tony Nted Emmanuel, who disclosed this, lamented that in the last two years, close to 40 innocent Nigerians including union members, had been killed by the militants allegedly being protected by politicians. He said all efforts by the union to make the state government move against the militants had yielded no positive result, insisting that the union could no longer fold its arms while members and other innocent Nigerians were exposed to danger. He said: “The union has, since Friday, begun an indefinite strike and shut all marine transport in Beyalsa State until the government is ready to ensure safety of our members and other innocent Nigerians who use marine transport in the state. This state of insecurity has been on since two years ago. At the last count, close to 40 innocent Nigerians, including our members, have been killed;

others have been kidnapped while many women have been raped. The activities of these hoodlums who are loyal and patronised by politicians in the state, have been on the increase since two years. "All efforts to get the government to address the rising insecurity on the waterways in Bayelsa State have yielded no positive

result. Just last Friday, when the strike began, the state Commissioner for Transport called our officials in the state and intimated them that the governor was going to meet with them. Unfortunately, as at today (Sunday), nothing has been heard from the government. Whatever politics they are playing, it is not our business. We are not

politicians, we are workers doing our legitimate business and we expect the government to protect us. We are compiling the names of our members that have been killed, kidnapped or raped by these hoodlums for the public to know the level of insecurity we have been exposed to while doing legitimate business in Bayelsa State.”

BRIEFING: From left: Mr. Soalabo West, Chief Apollos Amadi and Prince Grant Arugu, during a press briefing by a coalition of PDP governorship aspirants in Rivers State to protest the state PDP Ward congresses in Port Harcourt, yesterday. Photo: Nwankpa Chijioke.

Unite against Boko Haram —Horsefall By Jimitota Onoyume

ORT HARCOURT— FORMER Director General, Department of State Service, DSS, Chief Albert Horsefall, has appealed to Nigerians to unite against Boko Haram insurgency, describing it as a threat to the nation’s unity. Horsefall, who spoke to

Vanguard, weekend in Port Harcourt, said the dreaded Islamic sect had expressed clearly its intentions to seize and control a portion of the nation, adding that the move should be resisted by all Nigerians. He said: “These people (Boko Haram) have expressed an aim to take over control of, Nigeria’s territory, thereby

undermining the country's territorial integrity. This is something we must never compromise as a country.“ Horsefall, who described Boko Haram as a threat to peace, cautioned against what he described as premature comments from security chiefs. “I am afraid that some of the things our defence chief in particular, says are rather

premature. He should not have said them. On the issue of the Chibok girls, is it the Chief of Defence Staff, or a politician who should come out to say Nigeria has agreed to a cease fire with Boko Haram? It is a political issue. A politician should have handled it and not the Chief of Defence Staff," he said.

Akpabio gives pass mark to A-Ibom PDP ward congresses

OVERNOR Godswill Akpabio of Akwa Ibom State and chairman of the Peoples Democratic Party, PDP, in the state, Obong Paul Ekpo, have described the ward congresses of the party, which took place all over the state, as peaceful, orderly and a demonstration by the people to ensure democracy survived in the country. They spoke at different venues

of the ward congresses. Speaking to newsmen shortly after participating in the congress, Governor Akpabio said: “I commend our party members for this demonstration of peace and orderliness. It is a confirmation of the party’s readiness to ensure that internal democracy is entrenched in the party.” In his reaction, party chairman, Paul Ekpo said: “The peaceful and

orderly conduct of party members before, during and after the congress is a demonstration that the party is one united entity. Contrary to what had been peddled in the media in the last few weeks that the party was not one, the report I have received from chapter chairmen across the state is really, encouraging and we are happy about that, because our members turned out enmasse to partake in the exercise, devoid of rancour.”

2,000 PDP members defect to APC in Edo By Simon Ebegbulem

ENIN CITY—NO fewer than 2,000 members of Peoples Democratic Party, PDP, in Akoko Edo Local Government Area of Edo State, including an aide to former Majority Leader of the House of Representatives, Col Tunde Akogun (rtd), Frank Awe, weekend, defected to All Progressives Congress, APC. The event attracted the presence of the two APC senatorial aspirants from Edo North, the incumbent senator, Domingo Obende and the Secretary to Edo State Government, Professor Julius Ihonvbere. Speaking at the rally in Igarra, headquarters of Akoko-Edo Local Government Area, Senator Obende, who declared that the defection of the Speaker of the House of Representatives, Alhaji Aminu Tambuwal, to the APC, was the end of the PDP era in the country, lambasted the Police and the Federal Government over the withdrawal of the security details attached to the speaker, asserting that no form of intimidation would stop APC from winning the forthcoming presidential election. He said with the defection of the Tambuwal and the seeming inability of the PDP to garner twothird majority for a change in leadership, the APC had taken over control of the lower house. Speaking on behalf of the defectors, Awe said: “We were members of the PDP, most us believed that what was happening in the PDP was not fair. When people now see you as being foolish politically, you tell them what you know."

12 — Vanguard, MONDAY, NOVEMBER 3, 2014

NBA to re-consider defence of kidnappers —Alegeh By Gabriel Enogholase

E N I N — NIGERIAN Bar Association, NBA, weekend, said it would re-consider its stance on whether to defend kidnappers or not if the current trend of kidnappings continued in the country. President of NBA, Chief Augustine Alegeh, SAN, who spoke in Benin at the end of MidWest Bar Forum’s meeting, recalled the kidnapping of the immediate past President of the NBA, Mr. Okeh Wali, recently released by his abductors, and the kidnap of Mr. Desmond Dudu of the Sapele

branch, now spending 17 days in captivity. He said: “Even in the Mid-West Bar Forum, we have discussed it at length. For us, the scourge of kidnapping is on the rise and if this trend continues, the Bar will need to reconsider its position, whether we will defend kidnappers.” He noted that security agencies were understaffed lamenting that, “if we must deal with kidnapping, we need to properly police our country to ensure that anybody who is kidnapped, even if ransom is paid, even if he is released, that the kidnappers are eventually caught are made to face the

Monye joins Delta governorship race

By Festus Ahon

SABA—ONE of Peoples Democratic Party's, PDP, governorship aspirants in Delta State, Professor

Mike Akpan for burial Nov 4

IKE Akpan, Editor-in-Chief, Real News magazine and former Editor of Newswatch magazine, is to be buried on Tuesday, November 4, in his hometown, Abak, Akwa Ibom State. A statement by Mfon Mike Akpan, first son of the deceased, said a vigil Mass will hold at St. John Pro-cathedral Abak on November 3. He will be interred at his compound at Edem Anwa next day, immediately after a Requiem mass at St. John Pro-cathedral, Abak.

Late Mike Akpan

Sylvester Monye, weekend, officially declared for the race and promised to improve on health and education sectors of the state, if elected. Speaking during the ceremony at the Cenotaph in Asaba, Monye said he had consulted widely on his ambition: “I am widely accepted by Deltans to govern them and the time for me to govern is now,” he noted. Claiming his ambition was in honour of several calls to run for the governorship, Monye expressed hope that he would secure the PDP ticket to contest the February 2015 governorship election. Promising to build on the legacies of Governor Emmanuel Uduaghan’s administration, Monye said he would bring his wealth of experience to bear in the governance of the state, if given the opportunity. He added that he would also encourage the agricultural sector to create jobs for the unemployed youths and also improve on the internally generated revenue base of the state as well as provide potable water for all Deltans.

punishment whether it is death sentence, life sentence or ten years. The reason why people are still involved in kidnapping is because they have a belief that

they will never be apprehended. If anybody knows that if he kidnaps and he is eventually caught, then, it becomes a deterrent, once he commits an

offence and gets a death penalty. But when he believes there is an option between the sentences he gets, there is a prevalence of that crime.

“I want to say that the punishment for a crime is only deterrent; it is not a safety gap, it is not to ensure that a crime is not committed."

Vanguard, MONDAY, NOVEMBER 3, 2014—13

WARD CONGRESSES: Enugu PDP factions bicker By Austin Ogwuda

NUGU — THE crisis rocking the Enugu Peoples Democratic Party, PDP, deepened, weekend, as factions battled each other over claims and counterclaims that state ward congresses were successfully held. Former deputy chairman of the party now laying claim to be the acting Chairman in line with the directive of the national body of the party, Mr. David Aja, declared that the ward congress was successfully held, while Governor Sullivan Chime faction led by Ikeje Asogwa as the State Chairman, insisted that the congress was postponed because materials and members of the congress committee were hijacked and never got to the official State Secretariat of the party. Aja had told newsmen that “the congresses were held at designated centres in the wards and they were very peaceful, successful, and indeed witnessed massive turnout of party faithful. We are happy with the manner our members conducted themselves and this has shown that our great party is marching into the coming elections with

statement said “the PDP, Enugu State chapter wishes to state that no ward congress of the party in Enugu State has officially commenced in the state as at 4 30pm. The state party secretariat has been opened and ready for the congress since 7am today (Saturday), no member of the electoral panel from the

national secretariat of the party has reported to our party office, the venue officially designated by the national secretariat of our party for the commencement and coordination of all the congresses and party primaries. “It is pertinent to note that the deputy governor of the state, Rev. Ralph Nwoye, the National, Zonal, State and Local Government Area executives of the party and all the 17 local government c h a i r m e n i n c l u d i n g thousands of other party faithful and our t e e m i n g supporters have been waiting tirelessly at the state party BRIEFING: From left, Walter Drenth, Marketing Director, Nigerian secretariat for the Breweries Plc., Chief Willie Obiano, Executive Governor of Anambra arrival of State; Kufre Ekanem, Corporate Adviser, and Emmanuel Agu, Marketing e l e c t o r a l Manager, Gulder, Legend and Life, also of Nigerian Breweries Plc., during materials." the Gulder Ultimate Search 11 Reveal Party, at the Women Development Centre, Awka, Anambra State, weekend. every determination to give PDP the needed victory. As you are aware, the congresses of PDP in the 260 electoral wards of Enugu State were held today where three-man delegates were elected by our members in the various wards.” But Asogwa who spoke through the State publicity secretary, Dr.Okey Eze in a

...3 senators, guber aspirants condemn Abia's By Emmanuel Aziken & Anayo Okoli

LL THREE incumbent senators from Abia State and some gubernatorial aspirants from Abia State have disowned the result of the ward congresses purportedly conducted last Saturday, saying that there were no congresses. Senators Uche Chukwumerije, Nkechi Nwaogu and Enyinnninya Abaribe in a joint petition with other party stakeholders affirmed that there were no congresses as they claimed that results were written down by agents of the administration. Other stakeholders who assented to the petition were the erstwhile Managing Director of Diamond Bank, Dr. Alex Otti, a former Deputy Governor, Chief Eric Nwakanma, Chief Uzoma Abonta, Solomon Ogunji, Rev. G Nwambu, Emeka Atuma and Nze Esiaga. Their claim was sharply rebuffed by the Special Adviser to Governor Theodore Orji on Electronic Media, Ugochukwu Emezue, who insisted that ward congress successfully held everywhere in Abia. In their petition, they said: Our party members and delegate aspirants yesterday, November 1, 2014 ( supposed to be the day of the congresses that never took place) dispersed after 6p.m. when nobody came to conduct the congress elections.” There was an allegation about the disappearance of the party membership registers of all the 184 wards in Abia contrary to the guidelines for conduct of congresses. Tony Ceaser Okeke team's failure to produce the mandatory election materials: Collation materials, identity tags for those to supervise the elections also made matters worse as there were no party registers and even nobody deployed to the field. It was alleged thagt crowds anxiously waited up to 5.30 and 6p.m., got tired and dispersed to their homes; which means that no congress held anywhere in Abia.

Umeh berates PDP for promoting Obi above APGA By Chimaobi Nwaiwu

NEWI — NATIONAL Chairman of All Progressives Grand Alliance, APGA, Chief Victor Umeh, has berated the Peoples Democratic Party, PDP, for saying it had been losing governorship elections in Anambra State to former Mr. Peter Obi who recently defected to PDP, and not APGA as a party. According to Chief Umeh “contrary to the claim by PDP that they have been losing Governorship election to Mr. Obi and not APGA as a party, I wish to tell them that APGA is a movement that is in spirit and not under the control of any individual, but a party that is driven by the circumstances of the people behind it. "Our people are not happy with the way things are happening in Nigeria and they think APGA is their voice, so, there is no magic Mr. Obi can do as a person by joining PDP, to change the situation for his new party, we in APGA are his strength when he was with us."

Okorocha opens dialysis centre, offers free prostrate, cancer tests By Chidi Nkwopara

WERRI — IMO State Governor, Chief Rochas Okorocha, yesterday, declared free tests for prostate and breast cancer, as he commissioned Ochiedike Dialysis and Diagnostic Centre, Owerri. Okorocha also said his administration remained committed to ensuring a healthy Imo citizenry and called on citizens from 40 years and above, to advantage of the services provided at the Centre, “in their own interest”. “The Centre, which is 100 percent Imo State Government-owned, is a 15-year contract with Israeli Medical Personnel to manage the establishment, while medical experts resident in Israel will monitor activities in the centre as to assist wherever necessary.”

14 — Vanguard, MONDAY, NOVEMBER 3, 2014

Why we deserve our salaries — Medical Guild By Chioma Obinna

E D I C A L DOCTORS in the employ of Lagos State government, yesterday, asked for payment of their their salaries, arguing that other workers who embarked on strike for a much longer period were paid theirs. They wondered why the government would choose to be selective in its dealings with workers in the state. The doctors also posited that the strike was called by the Nigeria Medical Association, NMA, which comprised the Medical Guild. Chairman of the Guild, Dr. Biyi Kufor, lamented that all the 36 states of the country had paid their doctors, except Lagos State government. Kufor, who regretted that Lagos State was applying what he described as ‘selective justice’ said “all doctors who participated in the nationwide strike have been paid except doctors in Lagos.”

MISAPPLICATION OF FUNDS: Reps say WAEC has case to answer By Emman Ovuakporie & Levinus Nwabughiogu

BUJA — THE House of Representatives Committee on Public Accounts, weekend, accused the West African Examination Council, WAEC, over misapplication of several billions of naira. The council, which receives annual budget worth several

HE ASSOCIATION of Local Governments of Nigeria, ALGON, has commended President Goodluck Jonathan and the seventh National Assembly for their concerted efforts towards the enthronement of a virile and functional local government system in Nigeria, which climaxed in the historic joint constitution amendment committee vote to grant autonomy to local governments in the country. ALGON said in a statement by its national president, Ozo Okafor, that the "feat marks a new beginning in the history of local government administration in Nigeria." The statement said the 7th National Assembly, under the leadership of David Mark, Senator Ike Ekweremmadu, Hon. Aminu waziri Tambuwal and Ihedioha respectively, truly represented the wishes of the masses of Nigeria by finally assenting to the proposal of granting full financial and administrative autonomy to the 774 local government councils across Nigeria. C M Y K

Committee resolved to investigate the financial status, assets and expenditure of the council to ensure accountability and transparency in the management of public funds. Solomon Adeola, chairman, House Committee on Public Account, who presided over the investigative public hearing, expressed displeasure over the failure of some of the 262

VISIT: Former Deputy Governor of Akwa Ibom State, Mr. Nsima Ekere (middle), flanked from left by prominent businessman and politician, Prince Victor Utuk, and former SouthSouth Zonal Auditor of Peoples Democratic Party, PDP, Engr. Akan Okon, admiring cultural displays, during his consultation visit to PDP State Executive Committee,

Group petitions DSS over N20bn debt By Innocent Anaba

LG AUTONOMY:

ALGON lauds stakeholders

billions of naira, failed to remit its revenue generated to Federal Government since inception as provided by extant laws. The committee also alleged that the council failed to provide update of its audited accounts to the Auditor-General of the Federation and relevant committees of the National Assembly. To this end, the House

N INTERNATIONAl civil rights organisation, Advocates of Peoples’ Right and Justice, has petitioned the Department of State Services, DSS, over allegations of missing N20 billion meant for the payment of contractors to the Millennium Development Goals Project.

The group noted that as a result of the over N20 billion debts owed the contractors by the MDGs, most of them had lost their lives, while many were on the verge of losing the property they used as

Okonkwo for House of Reps

LEGAL practitioner from Oraukwu in Idemili North Council Area of Anambra State, Dr. Theodore Okonkwo has formally picked the nomination form under the All Progressives Grand Alliance, APGA, to run for the Idemili North and South Federal constituency seat during the 2015 general elections. Presenting the form to him, the APGA State Chairman, Chief Mike Kwentor said APGA remains the party to beat in Anambra State, noting that with the quality and integrity of candidates it is fielding, APGA is sure to record massive victories in all the elections.

collateral to secure loans from financial institutions. The group in the petition signed by its National Coordinator, Mr. Victor Giwa, stated that it had become necessary to draw the attention of security agencies to the fraudulent activities at MDGs, saying they were capable of leading to a breakdown of the fragile peace in the country. The petition read: “We have strong evidence that fictitious companies were used to pilfer and loot billions of naira under the Millennium Development Goals project. “These companies are no less than conduit pipes through which the fraudulent activities

went on, leaving the contractors in colossal debt, frustration and untoward hardship. “It is further embarrassing that these contractors have laid off several of their staff who were duly employed, while others have their places of business closed down as a result of severe indebtedness. “Further, the various contractors who had collected various facilities from their banks in execution of those projects are now under serious and intense threat of foreclosure of their property to the banks and other creditors, while others have incurred untold debt and have been embarrassingly dragged to some security agencies.

Ministries, Departments and Agencies, MDAs, to provide their audited accounts to the office of the Auditor-General of the Federation from inception. Adeola said: “The attitudinal behaviour you, WAEC, have exhibited over the years does not portray the kind of institution Nigerians expect of WAEC. Is it the monumental fraud, or lack of records, or financial Improprieties that have taken place in the institution? “I was not taken aback when I found your name on that list (of Auditor-General). I was not surprised. It is expected. “Sir, if you know the amount of fraud accruing to WAEC day in, day out; year in, year out and all that WAEC can tell Nigerians is that they only submitted their audited account up to 2010? And as a result of our insistence that made them rush down with 2011 and 2012 while 2013 is still awaiting the signature of the Council. “Aside from that, WAEC, all money accruing to you, you don’t report anything to the Federal Government, yet you still collect subventions like others. Money accruing to WAEC going to several billions of naira, and that same institution does not render account as at when due, even when state governments now pick up your bills for all schools? I’m not surprised. “You are an endangered species and we need to take care of you specially. So, it’s a special investigation to be conducted on WAEC. “This committee is going to be investigating WAEC for 2011, 2012 and 2013. We’re not insinuating anything, but it’s only fair and proper that an institution like WAEC that is generating much revenue annually must account for how that revenue is spent. “I know that a whole lot of activities including contracts are being awarded by WAEC. We want to know how much is generated by the sale of forms and how much subvention is paid to the headquarters in Accra as well as other expenditures.”

Council proffers measures to reform Nigeria’s transport sector By Ifeyinwa Obi

HE NATIONAL Council on Transport, NCT, has urged the Ministry of Transport to expedite action on the National Transport Policy, NTP and facilitate the passage of the Ports and Harbour Bill. The NCT gave the charge in a communiqué, weekend, by the Minister of Transport/Chairman of Council, Idris Umar, and Commissioner for Transport in

Kogi State, AbdulRahaman Wuya, after its 14th meeting, at Nike Lake Resort, Enugu State. The communiqué read: “That council urged Federal Ministry of Transport to develop a National Minimum Standards framework on safety and security in the nation’s inland water-ways for the safe transportation of persons, goods, equipment, navigation and navigational aids and related matters. “Council urged Federal Ministry of Transport to ensure

that NIMASA and NIWA’s Search and Rescue, SAR, centres are fully functional to enhance safety and security in the nation’s waterways. “Council directed all relevant agencies, in collaboration with other stakeholders to embark on extensive and sustained nationwide safety awareness campaigns to stem the incessant occurrences of boat mishaps in the nation’s waterways."

Vanguard, MONDAY, NOVEMBER 3, 2014—15

Pastor Babatope son’s wedding in Lagos

From left, bride’s parents,Paul Osaji, and wife, Joy; couple: Babajide and Mariam; groom’s parents: Olubukola and Pastor Segun Babatope, and Chief Doyin Okupe, during the reception of Pastor Babatope son’s wedding, in Lagos.

From left, Mr. & Mrs. Dayo Ojo, Chief Ebenezer Babatope, and Dr. Teju Bolujoko

From left, Mr. Ayo Akinyemi, veteran journalist; Chief Ebenezer Babatope, Rev. Johnson Williams, Mr. Gbenga Adefaye, Editor-in-Chief/GM,Vanguard Newspapers, and Mr. Femi Adesina, MD, Sun Newspapers and President, Nigeria Guild of Editors.

From left, Mr. Ogochukwu Osaji, brother of the bride; Mr. & Mrs. Paul Osaji, parents of the bride Photos: Diran Oshe

Kwara speaker urges FG to involve all in fight against Boko Haram I

LORIN— THE Speaker, Kwara State House of Assembly, Abdulrazaq Atunwa, weekend, urged the Federal Government to summon the political will and involve all stakeholders irrespective of political affiliations, to find solution to the protracted Boko Haram insurgency in the country. The speaker, who spoke in Ilorin, also condemned the removal of the security details of the speaker of the House of Representatives, Hon. Aminu Tambuwal describing it as crude, illegal and undemocratic.

According to him: “It is obvious now that President Goodluck Jonathan and the ruling party alone could not solve this problem. The problem of insecurity all over the world should involve all and sundry,so they should summon the political will to involve all and sundry in the solution to the problem because there is no problem without solution. “As we are growing in our democratic experience in Nigeria, we should be conscious of its tenets and live by them since we claim that we are

practising democracy. No court has declared the seat of the Speaker of the House of Representatives vacant and the members in the House have not impeached him, so where did the police get their orders from? "This is unconstitutional illegal,

Don condemns politicians' flamboyance By Demola Akinyemi

LORIN — A university Don, Professor Noah Yusuf of the Department of Sociology, Faculty of Social Sciences,

Gov Wada probes under-payment of workers' salaries in 21 local councils By Boluwaji Ohahop

OKOJA — GOVERNOR Idris Wada of Kogi State, weekend, said his government set up an audit panel to investigate the financial activities of 21 council chairmen in the state, following constant complaints of under-payment workers’ salaries. . The governor, who spoke in Lokoja after a meeting with the council chairmen, said the audit exercise would be done by more than one firm and concluded

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within three weeks. Wada, who insisted that his administration would leave no stone unturned in sanitising the local government system in the state, also frowned at the recklessness and lack of financial probity of some of the council bosses. According to him: “I urged the council chairmen to turn a new leaf and put the interest of the electorate at the centre of your policies. "However, the state government will henceforth

improper and in fact, it is gross rascality on the part of Inspector General of Police to have done that. We should be careful not to lay bad precedent because of struggle for power ahead of 2015 elections. “

oversee the payment of salaries to the local government staff until the audit exercise is concluded. We are going to sanitise the local government system in Kogi State. “A situation where most of the chairmen cannot pay full staff salaries is not healthy for development. We cannot allow this sorry situation to continue. Any local government chairman found wanting at the audit exercise would face the full wrath of the law.”

University of Ilorin, has condemned the flamboyant lifestyles of the Nigerian politicians, saying it is sending wrong signals to the youths that they can also live a good life without hard work. Yusuf, who said Nigerians must begin to appreciate hard work for the nation to achieve her full potentials and secure her future noted that, ”if Nigeria must develop, people must work diligently.” He said this in the 151 Inaugural lecture titled, ”Work, Industry and Society; The Synergy That Mirrors The Reality of Our Everyday Experience’ he delivered in the university at the weekend. He lamented that ‘’the current work attitude among Nigerians, especially those in the public service, is not conducive to national development, and therefore needs to be improved."

Group wants fresh voters' registration in Plateau By Marie-Therese Nanlong.

OS — ABOUT 527 polling units in Plateau State, including that of governor Jonah Jang have been identified as having incomplete voters’ register, hence a call has been made to the Independent National Electoral Commission, INEC, to conduct fresh registration in the affected areas. In a statement by the Plateau Youth Vanguard and signed by its chairman, Comrade Joel Jonathan, the group appealed to INEC to extend the days scheduled for the voters registration in the state as six days fixed will not be enough for people in the affected 527 polling units to register. Jonathan lamented that no single person was captured during the 2011 voters' registration in the governor’s polling unit, Ladura II in Du, Jos South Local Government Area and urged the Commission to take pro-active measure to ensure that people in the affected areas are not denied franchise.

16 — Vanguard, MONDAY, NOVEMBER 3, 2014 THE Minister of Industry, Trade and Investment, Dr. Olusegun Aganga, runs matters under his watch with mere words. After practising for years, he must believe his duty is done once he is able to make a speech. He began this gambit as Minister of Finance and has extended it to his current office. His call for the diversification of the Nigerian economy as the 6th convocation lecturer of Bells University of Technology, Ota, Ogun State, could confuse anyone who does not know that Dr. Aganga has been in government since 2010, as Minister of Finance , then Minister of Industry, Trade and Investment. According to him, “ We need to diversify our economy. We need to go back to the good old days when the proceeds from cocoa were used to build the Cocoa House in Ibadan. We must improve the standard of what we produce and export . “ If we must compete, we must acquire the necessary skills, we must provide an environment where there is finance for the private sector. We cannot be competitive if we do not link innovation with industry. ”

Aganga – W ords No Words Longer Enough We are wondering who would do these things which apparently bother the Minister. Is he expecting the graduating students to diversify the Nigerian economy? Would it be the lot of ordinary Nigerians, who do not make policies? Was the Minister indicting the government he is serving and earlier governments? What is wrong with the current economic policies for him to recommend a return to practices that are over almost 60 years old? How as a Minister has he influenced economic policies to reflect the “cocoa days”? How do we return to the “cocoa days”? Who would return us to the “cocoa

days”? The present government has a transformation agenda; Dr. Aganga prefers the economic policies that built Cocoa House. He should know that major components of the “cocoa days” economic policies, he advocates, were regionalism and the control the regions had over their resources. Is he suggesting Nigeria should return to that path? Has he canvassed his new economic thrust at the Federal Executive Council? What roles does the former Managing Director with Goldman Sachs, Chairman of the 2010 Board of the World Bank and International Monetary Fund, a scholar at University of Oxford and the University of Ibadan, a Fellow of Association of Certified Chartered Accountant, ACCA, of the United Kingdom, play in directing Nigeria’s economy? When a serving Minister speaks the way Dr. Aganga did in Ota, he scares Nigerians about the prospects of the economy. The Nigerian economy has needed diversification since 1960. Nigerians thought those with hefty portfolios like Dr. Aganga have been doing just that.

OPINION By Bobson Gbinije

History is witness of the times, the torch of truth, the life of memory, the teacher of life and the messenger of antiquity CICERO (106-43BC) De oratore.

N his magnum opus and literary tour de force entitled Heauton Timoroumentos the philosopher and essayist Publius Terentius Afer said: “Humo sum ; humani nihil ame alienum puto” ( I am a man; and nothing human is foreign to me). It is this drive to ensure that nothing human is foreign to man that gave birth to history. History is an authentic chronicle and a verifiable documentation of ancient and modern events. The matrix of history is buttressed and consolidated by inputs from oral tradition of folklores, preserved by memories and recounted to the existing generation to document for posterity. The elements of written, divinatory and numerological submissions, etc, also contribute as resource archives from which historians, historiographers and archaeologists can get factual information. Before the art of writing was introduced, man, from the Paleolithic through the Mesolithic to the Neolithic ages used primitive means to document events. Fundamental and remarkably eventful occurrences in history like the Nile Valley Civilization, the Cretan Civilization, the Sumerian Civilization, the rise of Babylon, Assyria, Chaldea, Phonecia, Persia, the Roman Empire, the early history of Greece and Christianity were documented in history.

Towards demythologisation of African history But the art of writing and documentation th did not arrive in Africa until the 16 century, when European historians, from a European perspective, had already documented most of Africa’s history. Although the king of the ancient Mali Empire, Mansa Kankan Musa (1307-1337 A.D) set up the Sankore University in Timbuktu in 1310 A.D, it was a university for the propagation of Islamic studies (Arabic education), as against what was prevalent, the Western education and the art of writing. This exposed Africa’s early history to the whims and caprices of history dabblers, sentimentality, historical prejudices, myths, tribal jingoism, misplaced patriotism, falsehoods, judgmental fallacies, arrant controversies and apocryphal submissions, making African history and anthology of incongruities. When our African historians came on stage, they depended largely on the historical plinth already created by European or foreign historians. Where they had to get the factual basis of the history of their own people, it was sometimes coloured by their own prejudices, fabrications and intellectual bankruptcy. African history is to some extent a splendid documentation of falsehood, laced with lies, inconsistent with reason, at variance with logic and grossly out of tune with facts. African history records that the Ashanti people who were Akan- speaking people subject to the then Denkyra State came

out of Lake Bosomtwi, a small crater lake in central Ashanti. And to further consolidate the bases of their unity, Ashanti caused a “golden stool” in which the spirit of Ashanti ancestors was supposed to be hidden to descend on the knees of Osei Tutu, the ruler of Kumasi. The assembled Ashanti rulers acclaimed Osei Tutu as their superior and invested him with powers over all the Ashanti people. One version of Africa history records that the Yoruba’s migrated from the east th th in about the 10 or 11 century, that their ancestors belonged to the Quresh tribe of Mecca in Saudi Arabia and that their first father was Lamrud or Namrud who had an idol-priest called Ya-harba. The word Ya-harba is an Arabic wordmeaning warrior or army general. When th Islam was introduced in Mecca in the 7 century Lamrud, Ya-harba and their supporters refused to embrace Islam. The Islamic Jihadists took up arms against Lamrud and his pagan supporters. In the ensuing battle Lamrud was defeated and they fled the city, crossing the red sea to Africa. They got to Egypt in 648A.D; they moved to Tripoli, Algeria and Morocco. During this journey the idol-priest, Yaharbar, consulted his oracle, and they were told to follow the oracle’s direction. They followed the oracle’s direction until they arrived at Ile-Ife in 900A.D. During the journey to IIe-Ife Lamrud and his idol-priest, Ya-harba, died on the way. It was therefore Oduduwa who led the

Yoruba to IIe-Ife. This is why Oduduwa and not Lamrud or Ya-harba is referred to today as the father of the Yoruba. Even though Yaharba could not reach IIe-ife his people decided to immortalise his name by calling their settlement Ya-harba, which was later converted to Yoruba. One other version says the Yoruba progenitor, Oduduwa fell from heaven. Some years ago, the Oba of Benin, Omo Noba Nedo, Uku Akpolokpolo, Oba Erediauwa launched his book entitled I REMAIN SIR, YOUR OBEDIENT SERVANT. He opened the Pandora’s box of Yourba/ Benin history, when he claimed that the Yoruba migrated from Benin where prince Ekaladerhan (Yoruba’s Oduduwa) escaped from execution, and that after a horrendous and marathon journey through the thick forest he arrived at IIe—Ife, where he became their king. When the Binis discovered that tradition made it obligatorily imperative for him to come back home, they requested for him. But he turned down the request and in turn sent his son Oranmiyan to commence the present dynasty in Benin. This historical submission drew the ire of the Ooni of Ife, Oba Okunade Sijuwade Olubuse II. He said that the Oba of Benin whosethdynasty began in the last decade of the 12 century was an Ife Prince lent to the Bini people at their request after the reign of the Ogisos ended in Benin. Continues tomorrow *Mr. Gbinije, a social critic, wrote from Warri, Delta State.

NOVEMBER 3, 2014

Tech start-ups lament dearth of venture capital zSay scarce investible funds at early stages threatening economic growth By JONAH NWOKPOKU

perators in the Nigerian technology ecosystem have decried the dearth of opportunity for early stage investment for tech start-ups planning to break into e-commerce. Tech start-ups are new technology companies that are in a phase of development and research for markets and many of them are designed to search for repeatable and scalable business model. In Nigeria, many of the start-ups offer new ideas of addressing economic issues which they sell as services using technology. Operators, who spoke to Financial

Vanguard, said lack of investment in ideas that could transform into reputable and profitable ventures in the future is stifling the growth of the ecosystem. They argue that it will be difficult for the industry to grow since venture capitals, private equity firms and other angel investors in the country at the moment are not willing to invest in new ideas but are ready to fund few start-ups, who have tested the viability of their concepts, scaled up and are already established. The Co-Founder of Co-Creation Hub, CcHub and Director of its Open Living Labs, Mr. Femi Longe told Financial Vanguard that his experience has revealed that investors are only willing to invest in already

established startups whose growth is expected to be steady and rapid. Co-Creation Hub, which was launched in 2011, is Nigeria’s foremost social innovation centre dedicated to accelerating the application of social capital and technology for economic prosperity in Nigeria. It recently launched a $500,000 seed investment fund to support early stage start-ups over the next two years. Start-ups will receive sums ranging from $10,000 – $25,000 to support business model experimentation and operations. Longe noted that tech startups are not meant to absorb high level of investment from the beginning. He said unless investments are made at

AGRIC MINISTRY, BOI SIGN MOU: From left: Legal Adviser, Bank of Industry (BoI), Barr. Emmanuel Onaji; Managing Director/CEO, BoI, Mr. Rasheed OlaOluwa; Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina and, Permanent Secretary in the ministry, Mrs. Ibukun Odusote, during the signing of Memorandum of Understanding (MoU) on Rice production, between Agric and Rural Development Ministry and BoI at the Ministry’s headquarters in Abuja.

those early stages, it will continue to be difficult for tech startups that will absorb high level of investment to emerge in the future. According to him, “Starting and running a business is a continuum. At different stages of the process, different amount of capital is needed. The amount of money you need to prove that an idea will work is not the same as the amount of money you need when you want to scale up. “Most of the time, the so-called capital they say exists, is for businesses that are already established and expected to grow rapidly. So businesses that are looking for anywhere between a $100,000 and $1 million or more have capital waiting for them. The problem is that before a business gets to a stage where it will be able to absorb a $100,000 or more, you need early rounds of funding that are smaller, usually amounts ranging from $5000 to $20, 000. “But then the problem at that stage is that the there is less guarantee that the business will be successful, because they are just testing out the assumptions in the market. And so most so-called investors shy away from this early stage investment. And because we do not have enough of these early stage investors, it is now hard to get companies that can get to where they can attract and absorb large investment.” He said the reality about fund availability for tech start-ups is that “there is more funding for established start-ups than there are established start-ups and where the funding gap exist is the early stage investment to get start-ups to be established enough to attract large capital investment.” In order words, there are lots of funds chasing few established start-

Continues on page 18 C M Y K

18 — Vanguard, MONDAY, NOVEMBER 3, 2014

Cover Story

The Basic Guide to Starting Your Business prepare your mind and Part 4 reposition your mindset

FORUM - From left: Mr. Biola Temowo, President, Chartered Insurance Institute of Nigeria (CIIN); Adeola Agbato, representative of Director-General, Finanacial Institutions Training Centre (FITC); Mr.Sunny Adeda, Chairman, Alpha Choice Insurance Brokers & Chairman of the Forum and Faith Ughwode, Chief Executive, Almond Productions Ltd & Organiser of the Insurance Consumer Forum (ICF) at the 2014 Insurance Consumers' Forum held in Lagos.

Tech start-ups lament dearth of venture capital Continues from page 17 ups while many yet to establish start-ups starve of investment. “The challenge is not from the start-ups,” he observed. “The challenge is from the investors. To put this in context, we need to have a fund stream that can support businesses from the foundation, say with as little as $5000 as proof of concept fund. For instance, I have an idea but not sure if the idea will be a viable business, I need some money to put it to test. “In other parts of the world, people could get money from family and friends but in Nigeria, so many people have no family members to give them a million dollar to testrun a business idea that may end up not being successful. And so if you ask me, the investors need to begin to think of how they can channel their investment into building a pipeline. How can they channel their investment to ideas that are experimental that may or may not be successful? If they become successful, business that ordinarily would not come to life would have been helped to come to life,” he added. Also speaking, the Chief Executive Officer/President of Shoptomydoor, Nduka Udeh argues that while it may appear that there is more funding available than there is the capacity to absorb them, it is also important to note that private equity firms typically raise funds from their Limited Partners and the availability of C M Y K

funds, as claimed, will depend on the life of the fund and their typical area of interest. Shoptomydoor is a Nigerian online retailer dedicated to bridging the gap between Nigerian shoppers and global merchants such as Amazon, eBay, Zappos, AliExpress. He noted that the rise in ecommerce and mobile penetration has increased the number of private equity firms with interest in Nigeria and hence there are more funds available now than a few years ago. He said, though the fund may be available, the challenge is in meeting the requirements for accessing

We need to have a fund stream that can support businesses from the foundation, with as little as $5,000 as proof of concept fund

the funds. He said the nittygritty involved comes with extreme high cost that most start-ups cannot meet. According to him, “There are lots that go into accessing funds, and the typical Nigerian environment makes this even harder. A typical technology start up begins with very little capital either sourced personally by the owners or borrowed from family and friends. While trying to meet daily business cash flow, it is very difficult to meet the demands of a typical venture firm before funding is made available to a tech start-up.

Business plan challenges

deh explained: “For a venture firm to pay attention to any tech start up, such a start up would have to present a solid business plan that shows the growth potential of such a business with facts and figures to substantiate the loan being sought. Typical venture firms will not invest in businesses for which they will not walk out of in a few years time with a projected minimum of three times their contribution to the firm. Hence a firm wanting to invest $1 million in a start up will be looking for payout in the range of $3 million or more. “Most technology start ups are headed by Engineers and most do not have the expertise to produce plans that will meet the

Continues on page 19

Daring A successful business man has a mindset that is willing to take risks and tread on places people would not ordinarily want to tread. He would not chicken out at the slightest threat, so if you intend to start and own your business, you must have a diehard mentality, otherwise you would quit before you even get started. It is also very important to consider the risks involved and your ability to handle them properly, since every business involves risks. Most business people are very comfortable with modest risk but quite uncomfortable with big risks. Although they are unwilling to gamble on long shots, they are more willing to take chances if their individual skills can affect the probability of success. Then will they have the courage to step out into the unknown and pursue their personal dreams. Goal getter A successful business man has the mindset of not just setting goals but also achieving the desired result. He does not settle for less but always has his eyes on the prize. To him there are no impossibilities and failure is just part of the game. He does not believe in half measures but believes that he can go all the way and this mentality inspires a lot of confidence in clients and customers and will keep them coming. A high level of energy also keeps the businessman trudging through road blocks because he has his eyes fixed on long term goals. It is important you are very energetic and vibrant as it will ensure that your business is up and running. You need to have a motivation from within and from those around you. The man who invented electricity, tried ninety-nine times and failed; he got it right the 100th time! I dare say, that is the spirit you must possess, no matter how many times you fail, you keep trying it out until you get it right….bottom line you must delete the word IMPOSSIBLE from your dictionary. Period! It’s very important you move with the right people and read books and materials that will

towards positivity, because “if you can think it then you can be it”. Never forget “you are a product of your thoughts.” This reminds me of a Nigerian drama series that aired on the Nigerian national television network (NTA) in the early 90s, BASSEY& COMPANY. The lead act was fond of saying “if you want to be a millionaire, think like a millionaire”! As funny as it sounded then, it is still very true and applies to business. So permit me to say if you want to be a successful business man, then think like one! If you are going to run a business of your own, you should find something that makes you really happy. This should be at the core of why you are even looking at going into business of your own, because if you try and make something work and you have no passion for it, it probably won’t work out. If you have passion for the industry that you are working in, you will have a good chance of making it work out. What make a business great are the people that run it and the passion that they have for it. Keep this in mind when you are thinking of starting a business of your own. From experience, many just jump into business because they are excited about an idea and haven’t really thought about the ‘whys and wherefores’. Taking a moment to reflect on your motivations and defining your purpose will be time well spent. A lot of people go into business for the sole reason of making money; this is not a good idea. It’s not a good idea because the main ingredient for success is missing. The main ingredient for success is passion, and it’s virtually impossible to maintain high-levels of energy when you’re doing something you don’t love. There will always be challenges in owning a business. Your love and passion is what takes you through those challenges. Without that passion, you probably won’t make it.

Vanguard, MONDAY, NOVEMBER 3, 2014 — 19

I and others, the worm eating up Nigeria t was Dr. Martin Luther King, who once said: “Life’s most persistent and urgent question is, ‘What are you doing for others?” Great men that walked on this planet earth have often challenged themselves with this question, and have ruled their conscience in their service to humanity. Politicians, public sector workers as well as private sector operators whose principles are governed by this fundamental question have always come out with solutions to human problems. A man or woman who challenges himself/ herself with this question daily will have a lot to occupy him in the service of others and to humanity. In the Nigerian context, the question has always been what am I doing for myself? It is this selfish question and the high opinion held by Nigerian public office holders as well as the socalled private sector that has held down the progress of this country. Instead of us being the giants we claim, the Nigeria nation has become a Lilliputian country. A nation where nothing works. It beats every bit of imagination for officials of the Nigerian National Petroleum Corporation to come out and tell the nation that 80 per cent of the country’s pipeline have been vandalised or ruptured and so, distribution of petroleum products has become a harrowing experience. It has shut down several businesses along the nation's gateway, Apapa port, where on daily basis,

petrol tankers take over the express road leaving no room for other motorists. Given the misery and suffering this has caused Nigerians, public functionaries are not touched, and all they care is what comes to them. In his presentation at the Oil Trading and Logistics 2014, African Downstream Expo in Lagos, Mr. Haruna Momoh, Managing Director, Pipelines and Products Marketing Company Limited, PPMC, said that 80 per cent of the country’s 5,120 kilometers pipeline network for p e t r o l e u m distribution has been vandalised. He further disclosed that the country’s refineries are currently producing about 5.10 million litres of Premium Motor Spirit, PMS, daily. This, he said, is in contrast with the average local consumption of 40 million litres per day. In addition, Momoh disclosed that the refineries are currently producing three million litres daily of Automotive Gas Oil (AGO) in contrast with an average consumption of 12 million litres per day and Dual Purpose K e r o s e n e (DPK) production of 2.1 million litres per

day, despite an average consumption of 11 million litres daily. He said the country is facing difficulties in distributing products through existing pipelines due to pipeline vandalism and rupture due to aging. He further stated that the country is also faced with challenges of insecurity of pipelines to transport crude to existing refineries because of pipeline vandals. He lamented the limited number of trucks for product

Petroleum Gas filling plants among others. If officials at NNPC have the interest of others at heart, they would have ensured that the pipelines are secured. It is not an act of God that pipelines are being vandalized. The vandals are not ghosts, they are humans. They steal crude oil everyday without let or hindrance. They are known to operators as well as government functionaries. They have had a field day because of vested interest by

The vandals are not ghosts, they are humans; they steal crude oil everyday without let or hindrance. They are known to operators as well as government functionaries

haulage and the bad road network, saying as a result, most marketers, in some cases, use the same truck to convey products such as Premium Motor Spirit and Dual Purpose Kerosene. To address the challenges of products supply in the country, Momoh said the country requires three million metric tonnes per annum of product supply; 10,000 to 25,000 metric tonnes capacity vessels and additional jetties; over 1,000 additional trucks with a 20 metric tonnes carrying capacity and 500 Liquefied

Nigerian officials. It is 'what is in it for me' that has brought the nation to its knees. If Nigerians challenge themselves on 'what am I doing for others?', this issue will be a thing of the past. There is supposedly a lot of investment opportunities in the downstream segment of the oil sector, in the areas of construction/expansion of coastal storage facilities, provision of floating storage, dredging of the jetties to enhance draft and construction of more jetties, but who will put his money in a business that selfish interest

will kill the following season? If not for 'what is in it for me?' mentality, why has the petroleum industry bill not been passed into law? It is because there are those in government who are profiteering from the current arrangement. Nigerians are aware that the mismatches between pricing regimes encourage informal markets, cross border fuel smuggling, differing product specification standards and adulteration of fuels. But nothing has been done; it is yearly lamentation by government that rend the airwaves. Yet in the downstream of the oil sector, operators complain of “multiplicity in reporting and compliance requirements with various government agencies; high dependency on deplorable road infrastructure and inadequate road networks for effective products distribution as a result of poor pipeline integrity. Limited number of jetties - there are currently a high number of vessels on the queue for few berthing space prevent timely receipts of product and thereby increasing product cost as a result of cost incurred on demurrages.” If Nigeria must get out of this logjam, actors in the oil sector must look beyond selfish interest, and begin to be innovative in the approach to business; customer focused and be more sensitive to the lives of people and communities hosting oil installations. That is the principle of doing something for others.

Business & Economy Continues from page 18 requirements of most venture capital firms. Such plans will require the companies to show their present valuation, show data to support their projected sales forecast and be able to perform an economic model of their plan. The cost of hiring a firm in Nigeria to produce this, typically ranges from N3 million to as high as N8 million when consulting firms are brought in to do the work. Hence this already puts most start ups at a disadvantage as coming up with these funds that does not guarantee eventual funding is difficult.”

Tech start-ups lament dearth of venture capital Advisory, legal fees too expensive for start-ups

“Other advisory fees will come in that financial advisory companies will charge to help a tech start up navigate potential funding. These advisory fees come in the form of helping to negotiate the terms sheets, accompanying them on meetings and introducing them directly to the firms that

have funds to invest. All these come in the form of advisory fees that these financial firms will want paid up-front. Hence meeting these fees that range in the N2 million to N3 million with a percentage of the fund at closing also proves a big challenge to a typical start up entity. “Also legal fees are other fees that can be substantial in negotiating these agreements and can range from a few hundreds of thousands to the

millions depending on the firm and experience of the lawyers handling these. “While the advisory and legal fees can be rolled into the funding and paid by the funders, the business plan development fee cannot, and leads to most good ideas not given a serious thought from day one if not produced and written by a fancy well known firm. Rolling the advisory and legal fees into the fund also has the effect of reducing the

founder ’s equity in the company after the funding,” explained Udeh. Udeh further said that for a typical tech start up to be able to acquire funding they should be willing to give up a lot of equity in their company, which in most cases makes them lose control of what they have built and hence they become employees of their own companies and indirectly of the

Continues on page 36 C M Y K

20 — Vanguard, MONDAY, NOVEMBER 3, 2014

Business & Economy

Zamfara farmers benefit from N50b mechanization fund

Broadband access, key enabler of socio-economic growth —Minister

Minister

BY JIMOH BABATUNDE of

Communication Technology, Mrs Omobola Johnson, has said that broadband access and internet technologies were key enablers of socioeconomic growth and knowledge-based economies. She made this assertion in a keynote address at the opening of the West African Information and Communications Technology Conference (WAFICT)held in Lagos. The News Agency of Nigeria (NAN) reports that the conference, organised by IT and Telecom Digest, had the t h e m e : Broadband for Transformation and Development in West Africa. Represented by her Senior Special Adviser on Media, Mrs Efem Nkanga, Johnson said the presence of broadband as a strategic tool in any nation enabled the creation of a digital economy crucial for fostering inclusive development.

Merger: Nigerian Breweries Plc Announces Details of Court Ordered Meeting

he Board of Nigerian Breweries Plc has announced approval from the Federal High Court for it to hold a Court Ordered Meeting of shareholders of the company to consider its proposed merger with Consolidated Breweries Plc. In a statement signed by Nico Vervelde, Managing Director/ CEO, Nigerian Breweries Plc, the company disclosed that “the Court Ordered Meeting is scheduled to hold on Thursday December 4, 2014 at the Zinnia Hall of Eko Hotel, Victoria Island, Lagos. Having obtained the approval of the statutory authorities, the distribution of the Scheme of Merger document to shareholders will commence immediately. The essential proposal before our shareholders is to combine the operations of Nigerian Breweries Plc and Consolidated Breweries Plc into one legal entity effected through a Scheme of Merger with Nigerian Breweries being the surviving entity.” C M Y K

amfara State became the first state in the country to benefit from President Goodluck Jonathan’s N50 billion Agricultural Mechanization Fund for the roll out of the Agricultural Equipment Hiring Enterprises across the country. The Minister of Agriculture, Dr. Akinwumi Adesina, last week in Gusau launched the N144 million Emergency Mechanisation Intervention Support Services for Zamfara Farmers. Speaking at the launch in Zamfara, Adesina said: “The initiative is a purely PublicPrivate-Partnership (PPP) strategy that will set up Agricultural Equipment Hiring Enterprises in strategic locations to provide mechanized farm services to farming communities. “These include leasing/ hiring out of various types of agricultural equipment for land preparation, harvest and post-harvest operations, repair and maintenance of such equipment. The centers will also serve as an incubator for human capital development within farming communities.” He disclosed that between

SMILE ROUNDTABLE - From left Mr Kenneth Ezenwah, General Manager, Sales and Distribution; Mrs Alero Ladipo, Chief Marketing Officer and Mr Gbolahan Thomas, Head, Legal and Regulatory Affairs, all of Smile Communications at a media roundtable hosted by the company in Lagos.

2014 and 2016, the Agricultural Mechanization Fund will establish a minimum of 1,200 Agricultural Equipment Hiring Enterprises (AEHEs) across the nation. The Centers, according to him, will provide 6,000 units of tractors and their implements, 15,000 power tillers and over 20,000 planting, harvest and post-harvest equipment.

“The centers will be used to mechanize 4 million hectares of farmland in the country and expand food production by an additional 20 million metric tons. The centers are projected to create over 200,000 direct and indirect jobs for youths. Adesina further disclosed that Zamfara State is having the first of the agricultural equipment hiring enterprises commissioned with three of the senatorial districts having a centre and the fourth centre located in

16 states to benefit from BOI, Agric Ministry's N13.6bn rice, cassava mills By FAVOUR NNABUGWU & RAPHAEL IZOKPU

ixteen states are to benefit from the N13.6billion pact entered into by the Bank of Industry, BOI and the Federal Ministry of Agriculture and Rural Development as intervention funds for rice and cassava milling in the country. The duo signed a Memorandum of Understanding, MoU, for N13.6 bn loan solely targetted at the private sector at a maximum of 10 years with a 3-year cessation at 5 per cent interest flat rate per annum to 16 benefiting states. Ten out of the 16 states Benue, Kebbi, Zamfara, Kaduna, Kano, Kogi, Bayelsa, Bauchi, Ogun and Anambra, are for rice mills while the remaining seven states Ondo, Ogun, Abia, Delta,

Cross River and Nasarawa are for cassava mills. The Managing Director of BOI, Mr Rasheed Olaoluwa at the signing of the MOU in Abuja on Thursday, explained that the objective of the Federal Government’s Agricultural Transformation Agenda is not only to increase crop production, but also to create value-added food processing industries as a means of reducing food imports. “And the whole idea of the fund is to enable this administration to advance the already successful agric transformation

agenda and to take it to an advanced stage, by setting up 10 medium sized rice mills and 6 high quality cassava mills across the country. “Over the last three years, a lot of activities have been undertaken to improve and encourage the local production of the items in Nigeria as we are now in the critical stage where there is a need for effective processing of the agricultural produce," he said. Speaking further, the BoI boss stated that the MoU will address the modalities of ensuring that the 16 states which the funds are meant for, materialised in few months time, adding that, “it is therefore hoped that by the time the 10 rice and 6 cassavas mills companies are fully operational, evidently, the amount of rice and cassava importation in Nigeria would be significantly reduced, if not totally eliminated.”

Gusau, the state capital. “The four centers will be fully equipped with 20 units of tractors and power tillers each and various harvest and post-harvest equipment. “The total cost of the equipment for four AEHEs in Zamfara State is N144 million. The equipment are being deployed to Zamfara State through the state chapter of the Tractor Owners and Operators Association (TOOAN) to render emergency mechanization intervention support services to farmers in the state. The Minister disclosed that the ministry will support farmers all across Zamfara State to have access to subsidized mechanized services from these agricultural equipment hiring enterprises. “Given the recent communal clashes that led to the destruction of farm produce and death of traction animals, the Federal Government, through the Ministry of Agriculture and Rural Development, will pay for 100 per cent of the mechanization services for the farmers between now and the end of the dry season." While noting that a total sum of N193 million has been approved to support free mechanization services for farmers in Zamfara State through the Growth E n h a n c e m e n t S c h eme, Adesina said the tractors will be used to cultivate an average of 8000 hectares, covering plowing, harrowing and ridging tillage operations.

Vanguard, MONDAY, NOVEMBER 3, 2014 — 21

Business & Economy BY NAOMI UZOR

he Managing Director/ CEO, Peugeot Automobile Nigeria, PAN, Mr. Ibrahim Boyi, has said that given Nigeria’s level of development, wholesale trade liberalization policies, that damage local production is counter-productive and undesirable. Speaking at the 2014 annual symposium of the automobile and allied products sectoral group of the Lagos Chamber of Commerce and Industry, LCCI, tagged “Resuscitating the Nigerian Automotive Industry: Getting it Right”, Boyi said, whilst there is a marked decline in protection of local industries and reduction in some cases, elimination of trade barriers through duty removal among cooperating countries, such policy options cannot be equally desirable across developing economies and

AUTO INDUSTRY: Wholesale trade liberalization policies counter-productive, says PAN given Nigeria’s level of development, wholesale trade liberalization policies, that damage local production is counter-productive and undesirable. He said the main objectives of the Nigerian Automotive Industry Development Plans (NAIDP) developed by the Minister of Industry, Trade and Investment, Dr. Olusegun Aganga, is to protect the local automotive industry, enhance competitiveness, stimulate vehicles demand, encourage investments in the sector and develop local capacity. “The plan rides on the weakness and gaps within the sector vis-a-vis the factors that

have contributed to the immense successes recorded at other developing districts. By far the strongest attributes, the NAIDPs recognize that the transformation of the sector must take a term perspective of various initiatives and actions working simultaneously towards well defined outcomes. As formulated, the NAIDP is an integrated plan covering the entire spectrum of vehicle

ARIk @ 8: From left Mr Silla Ramachandra, Snr Vice President; Capt Ado Sanusi, Deputy Managing Director; Mr Chris Ndulue, MD and Captain Adetokunbo Adekunbi, Chief Pilot, all of Arik Airline cutting the cake to celebrate Arik's 8th year of operations at the Airline's head office, Murtala Muhammed Airport, Ikeja, Lagos. Photo Lamidi Bamidele.

manufacturing value chain with strategic focus on a nondisruptive transition from vehicles assembly to fully fledged manufacturing during the plan period” he stated. The president of LCCI, Alhaji Remi Bello, said, the new Nigerian Automotive Policy target is to place Nigeria among industrlized nations, thus, the transformation agenda must be consistent and driven by international best practices, adding that, various reports indicate that since the recent increase in the duty and levy paid on imported new vehicles from by the federal government, Nigeria’s automotive market has started witnessing a systematic drop in the volume of imported new vehicles. “From research conducted by NBS and the Nigerian Automotive Manufacturers Association (NAMA), the Nigerian automotive industry has the potential to create more than 700,000 jobs. As at 2012, only 2,584 persons are directly employed by the assembly plants. With over 200,000 new/used vehicles introduced into the economy on yearly basis, the Nigerian auto industry has the potential to surpass the South African auto industry in contribution to GDP. This is feasible if the industry is revitalized and made vibrant by addressing inherent concerns” he said.

NEPC partners SURE-P on job creation BY PROVIDENCE OBUH

he Nigerian Export Promotion Council (NEPC) in collaboration with the Subsidy Re-investment Empowerment Programme (SURE-P) Graduate Internship Scheme (GIS) is in strategic partnership to implement skills acquisition programmes that would give fillip to Federal Government’s Transformation Agenda of reducing unemployment and creation of wealth. The stage for this act was set at the MOU signing ceremony in Lagos, where the two organs agreed to build capacity, impart

skills and create a pool of trained graduates who would become independent entrepreneurs. In addressing the subject, particularly job creation, NEPC would integrate GIS with its Youth Empowerment Export Skills Acquisition Programme (YEESAP) through the grooming of interns on export matters, before deploying them to Export Manufacturing Companies to work for at least a year - drawing reasonable stipends as salaries paid by SURE-P. At a Forum, Mr. Olusegun Awolowo, Executive Director/ CEO of NEPC, underlined

that “the objective of YEESAP is to strengthen effort by SURE-P GIS to realize one of the Federal Government’s cardinal objective in the Transformation Agenda: wealth and job creation. The programme would surely revitalize the non-oil export sector of our national economy thereby increasing its contribution to GDP”. The overall objective of integrating the GIS in the development of non-oil export is to ensure that youths are adequately equipped to manage export oriented businesses to sustain themselves. According to the Director/ Coordinator of GIS Mr. Peter

Papka “this collaborative initiative to engage our teaming youths is a clear effort at encouraging Government to Government partnership, and a good example of Public Private Partnership which is in sink with the key mandate of SURE-P”. The Forum titled “Integration of GIS in Nonoil Export Development” was attended by stakeholders from relevant MDAs, parastatals, the Organized Private Sector and captains of industries - especially those from the Export Manufacturing Companies who would eventually employ the interns.

FCMB, Dana motors partner to enhance customer service

irst City Monument Bank (FCMB) and Dana Motors have agreed to enhance services for customers of the bank. Mr Adam Nuru, the FCMB Executive Director, Abuja and Northern region, disclosed this at the launch of the FCMB and Dana Motors Auto Loan Alliance media launch in Abuja. He said that the Auto loan Alliance was part of efforts to meet the aspirations of the bank’s customers. He added that “today, our guests and customers are presented with unique consumer offering and how they can benefit from it. “The Auto Loan is another way of identifying with customers’ aspirations and delivering on our brand promise to our customers. Throughout the period of this offer, our customers who will sign on the scheme will not have to worry about releasing bulk cash to acquire a brand new vehicle.” According to him, customers will also be able to meet their other needs at the same time.

Nigeria can save N1.38bn from energy efficiency practices —UNDP

he United Nations Development Programme-Global Environment Facility Energy Efficiency Programme (UNDP-GEF),has said that Nigeria could save $8.49 million (about N1.38 billion) from energy efficiency practices. UNDP- GEF’s National Project Coordinator, Mr Etiosa Uyigue, said this in Lagos while making a presentation at a seminar on “Energy Efficiency ”. The seminar was jointly organised by the ConsulateGeneral of the Republic of Germany and the Delegation of German Industry and Commerce in Nigeria. Uyigue said that it was imperative for Nigerians to urgently embrace the use of energy efficient lightings and appliances at homes, offices, hotels and other public places. “Nigeria can save about 8.49 million U.S. dollars annually if Nigerians will replace their present use of lighting products with energy efficient ones.

22 — Vanguard, MONDAY, NOVEMBER 3, 2014

Banking & Finance

GTBank’s SME MarketHub wins Frost & Sullivan Award

uaranty Trust Bank Plc has been announced as the winner of the “2014 Product Leadership Award” at the 2014 Frost and Sullivan Excellence In Best Practices Awards Banquet that held in Monaco, France. Frost & Sullivan is a growth consulting firm that provides market research and analysis, growth strategy consulting, and corporate training services across multiple industries including banking, automobile, healthcare, internet and communication technology, and more. Its headquarters is located in California with offices in 31 countries across six continents. Explaining the rationale behind GTBank winning the award, Frost & Sullivan stated that the award is in recognition of the Bank’s efforts to offer robust value to SMEs in Nigeria.

Naira depreciation hurting businesses — Stanchart survey Stories by BABAJIDE KOMOLAFE

he Standard Chartered MNI B u s i n e s s Sentiment Indicator (BSI) has revealed that the recent depreciation of the naira is having negative impact on businesses. The Indicator is constructed based on the responses to questions on Nigeria’s current and

future economic conditions from 200 formal-sector businesses active in different segments of Nigeria’s economy. Recall that the naira depreciated by 185 kobo at the interbank market in October as the interbank exchange rate rose from N163.8 per dollar at the end of September to N165.65 at the end of October. “With a mix of exporters and importers polled in our

representative sample of Nigerian companies, the overall assessment of naira weakness was negative”, the Bank said in its report of the BSI survey for October. “The ‘effect of the naira exchange-rate current conditions’ indicator declined 6.9 percent month-on-month in October, with many respondents reporting that foreign exchange movements had a negative impact on their businesses. The index itself

Federation Account Remittances: Okonjo-Iweala lauds CBN

he Coordinating Minister for the Economy (CME) and Minister of Finance, Dr. (Mrs.) Ngozi OkonjoIweala, has commended the Central Bank of Nigeria (CBN) for being at the forefront of regularly fulfilling its statutory obligations to the government by prompt remittances of it's surplus revenue to the Federation Account. Dr. Okonjo-Iweala gave the commendation at a public presentation of the 2015 -2017 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper to members of the Senate Joint Committee on Finance, National Planning and Poverty Alleviation at the National Assembly Complex last week. Making her presentation, the Minister proposed that, as part of the framework, “25 per cent of gross revenues of Ministries, Departments and Agencies (MDAs) should be remitted off the top as part of the long-term strategy of enhancing Internally Generated Revenue (IGR) collection from MDAs and other organizations.

CONFERENCE - From Left: David Grayson, Cranfield University, UK; Bisi Onasanya, GMD/CEO FirstBank; Dr. Enase Okonedo, Dean, Lagos Business School; and Kayode Omoregie, Faculty, Lagos Business School at the FirstBank International Sustainability Conference.

Sterling Bank sharpens retail strategy with 10 new branches

terling Bank has opened ten new branches in a bid to sharpen its retail banking strategy to enhance services delivery and attract low cost funds. In addition, the Bank has embarked on the remodelling of about 40 of its branches nationwide to reflect its retail positioning. Recall that Sterling Bank recorded N73 billion gross earnings in its third quarter of 2014 operating year, up by 12.1 percent in Q3 2013. Profit before Tax also increased by 41.3 percent from N6 billion in Q3 2013 to N8.5 billion Q3 2014. Thus, its Profit after Tax grew by 39.2 percent from N5.1 billion Q3 2013 to N7.1 billion Q3 2014. The new branches are located in Festac Town, Owode Onirin, a retail market that deals with motor spare parts along Ikorodu Road, Itire, and Awoyaya all in Lagos. Others are the NNPC Depot in Mosimi in Ogun State, Eziukwu in Abia, BirinKebbi in Kebbi, Rumuola and Onne in Port Harcourt and Bank Road in Ekiti. The new branches are additions to the bank’s expanding branch network in the country just as more locations will be added in the coming months to enable it achieve its 200 mark before the end of the

2014 financial year. The Bank’s total branch network currently stands at 175. According to the Bank’s Group Head, Strategy and Communications, Mr. Shina Atilola, the bank’s on-going branch expansion is part of its strategy to expand its operations and branch network across the country to enable the Bank deploy its services to all parts of the country and leverage on this to successfully increase its share of the retail end of the market. The new branch locations, according to Mr. Atilola will serve both retail and wholesale banking customers with a comprehensive range of products including the traditional banking products and services with an emphasis on technology driven products/services delivered through an on-line real-time technology platform already put in place by the Bank. The Bank’s Chief Strategist said that the Bank planned to develop a robust service delivery network comprising the traditional “brick and mortar ” branches and alternative delivery channels like the ATMs. He expressed his confidence that the Bank would achieve the 200 branch network target it has set for 2014.

slipped to only 36.5, versus a three-month average of 40.5 – with both the October and the three-month average in contractionary territory. “But NGN weakness may be providing some unanticipated upside for the Nigerian economy. Although formalsector companies are thought to be dominated by importers, it is noteworthy that survey respondents reported a strong rise in export orders, with the sub-index rising to 70 in October, a new series high. This was up 17.4 percent month-on-month from September ’s print of 59.6, suggesting that foreign exchange weakness may have been an important driver of the gain.” The survey however indicated a rapid rise in business confidence in October. It noted, “Rapid rise in confidence in October Business confidence appears to be robust in Nigeria, with demand and output both increasing at the fastest pace since the Standard CharteredMNI BSI series began in March. It is likely that the holiday season in Nigeria lifted output, with the Id el Kabir holiday falling close to independence celebrations in early October this year. Companies are experiencing a surge in orders ahead of Christmas as well, helping to lift the headline indicator to a new series high of 66.6. This is up 4.2 points, or 6.8 percent month-on-month from September’s 62.4.” The Bank said that the Stanchart MNI Business Sentiment Indicator is constructed in partnership with MNI, a well-known data provider that has long produced the Chicago PMI among other indicators. “Each month, up to 200 formal-sector businesses, active in different segments of Nigeria’s economy, respond to questions on Nigeria’s current and future economic conditions. Although c.80% of the respondents polled are Lagos-based, the businesses that they represent are active across Nigeria. Their responses are collated to generate a single number that captures sentiment. The headline BSI (current conditions index) for Nigeria is made up of a number of components, with different weights assigned: new orders (a 35 percent weight), production (25 percent ), employment (15 percent), order backlogs (15 percent) and supplier delivery times (10percent).

Vanguard, MONDAY, NOVEMBER 3, 2014 — 23

Banking & Finance

CBN investigates two banks for forex malpractices *Naira loses 90k in interbank *No alternative to further tightening-Experts By BABAJIDE KOMOLAFE

he Central Bank of Nigeria (CBN) has c o m m e n c e d investigation of two banks for foreign exchange malpractices. The two Tier 2 banks are being investigated for unbridled sale of foreign exchange to BDCs related to the banks. One of the banks with headquarters in Victoria Island recently appointed a new Chief Executive Officer, while the other with headquarters in Lagos Island, recently celebrated its 30th anniversary. Investigation revealed that in some instances the banks sold foreign exchange in millions to each BDC per time. The apex bank however got wind of these unbridled foreign exchange sales and sent its examiners to investigate the banks as well as impose stiff penalties on them. Investigations also revealed that though the apex bank has not barred the banks from selling foreign exchange to BDCs; they have however stopped doing so. It would be recalled that last week the apex bank banned banks from selling its intervention foreign exchange in the interbank market, or to BDCs. In a circular with reference number TED/FEM/ FPRB/GEN/01/020, dated October 28, 2014, the CBN also directed that funds purchased through its interventions at the interbank market should be utilised within two working days of delivery, at a rate not more than 10 kobo above the purchase rate. The CBN circular also directed that unutilised funds within two days of delivery should be returned to the Bank at the original purchase rates.

Naira loses 90k in interbank

eanwhile the naira continued its depreciation against the dollar in the interbank market last week losing 90 kobo. Data from the Financial Market Dealers Quote (FMDQ) show that the interbank foreign exchange rate rose to N165.65 per dollar at the close of business on Friday from N164.75 per dollar. This, it was gathered, was due to persistent demand pressure, aggravated by absence of intervention from the apex bank. Furthermore, the CBN

reduced by 10 percent foreign exchange sales at the RDAS sessions held last week. From $999.88 million, foreign exchange sold dropped to $898.85 million. The official exchange rate remained unchanged at N 155.76 per dollar. The 90 kobo depreciation of the naira at the interbank market last month compounded the woes of the currency against the dollar for the month. Analysis revealed that though the naira was stable at the official segment, it depreciated by 185 kobo in the interbank in the month of October, with the interbank rate rising from N163.8 to N165.65 per dollar. The depreciation could have been worse but for the regular intervention of the CBN with special foreign exchange sales to stabilise the naira in the interbank market. F o r e i g n exchange sales at RDAS for the month of October dropped slightly to $3 billion from $3.1 billion in the previous month.

External Reserve declines by $757m in October

The External reserve last week continued its downward trend reflecting the impact of the CBN’s foreign

exchange intervention sales to stabilise the naira. Last week, the reserve fell below the $38 billion mark to $38.763 billion. This translated to decline of $238.99 billion in one week. Cumulatively, the external reserve fell by $757 million in October, representing the biggest decline since it started rising in June. By extension, the external reserve has declined by $5.17 billion or 11.8 percent in 2013.

No alternative to further tightening - Experts

eanwhile analysts have said that the recent decline in crude oil prices with its concomitant effect on foreign exchange

Without a large cushion of foreign exchange reserves, the CBN is under pressure from the fall in oil prices, so we expect the CBN to tighten policy as a means of underpinning the naira

earnings, external reserve and the exchange rate of the naira, has made it imperative for the CBN to f u r t h e r tighten its monetary policy. In difference economic commentary, the analysts were of the view that the CBN has no alternative to f u r t h e r tightening of m o n e y supply. “It is clear that a tightening cycle is

developing, with a strong possibility of further direct tightening,” said analysts at Ecobank in a briefing titled, “Nigeria: Yields are heading up.” “The recent sharp fall in Brent oil prices and uncertainty over the normalization of US monetary policy following the end of QE in several days support a tightening bias. Without a large cushion of foreign exchange reserves the CBN is under pressure from the fall in oil prices so we expect the CBN to tighten policy as a means of underpinning the naira. ?The MPR will remain above 12 percent for the weeks ahead, with the possibility of indirect tightening in the November meeting of the MPC. However, if the naira weakens in the interbank market to naira 170 or more, and oil prices drop below $80 per barrel an emergency MPC meeting could raise the MPR 50-100bp and increase the CRR”, they said. Analysts at Financial Derivative Company (FDC) also stated, “We expect the CBN to continue to pursue a contractionary monetary policy, which will help in mitigating the risks to inflation and the exchange rate”. In the company’s Economic and Business Update Bulletin issued last week, they explored the possible policy responses to the economic impact of the decline in crude oil prices. They noted, “The CBN‘s monetary policy will be a very useful tool in managing the risks to the exchange rate and inflation. The current restrictive policy stance has been effective so far in achieving the Central Bank‘s

objectives. Although there is a strong desire for an expansionary interest rate policy to boost growth, it may not be prudent to adopt such a policy at this critical time. “Fiscal policy, on the other hand, would have limited impact in curbing economic risks. However, the government can intensify efforts to prevent oil leakages and pipeline vandalism. This will help increase the country‘s oil production and in turn, minimize the impact of falling oil prices on revenues and external reserves. The government should also intensify efforts at strengthening the non-oil sector. Pending developments in the agriculture and power sectors should be carefully analysed to determine the way forward. Furthermore, there should be better collaboration of national and regional governments in tackling the Boko Haram menace, since crimes are perpetrated through interstate and country borders. “Nigeria‘s economic indicators have remained positive and relatively stable so far in 2014. However, the threats of increased risks from excess market liquidity, decreasing oil prices, changes in global monetary policies and security unrest may affect the stability of some economic variables. We expect the CBN to continue to pursue a contractionary monetary policy, which will help in mitigating the risks to inflation and the exchange rate. The Government should also intensify efforts at preventing leakages in oil production as well as strengthening the nonoil sector in order to boost revenues. The security crisis can also be better managed through greater collaboration of national and regional governments.”

AMCON redeems N866bn bond

eanwhile the Asset Management Corporation of Nigeria (AMCON) redeemed its N866.73 billion Bond which matured on Friday. As reported by Vanguard last week, the bonds were redeemed with a combination of cash and treasury bills. This, according to a money market source, might not have significant or lasting impact on market liquidity, as the CBN is expected to mop up the liquidity fallout with increase sales of treasury bills this week. C M Y K

24 — Vanguard, MONDAY, NOVEMBER 3, 2014

Corporate Finance

Aba mega mall set for commisioning

he Aba Mega Mall, a retail development embarked upon by the Abia State Government, in conjunction with leading infrastructural company, Greenfield Assets Limited has reached completion and would soon be commission. Managing Director, Aba Mega Mall Limited, Ugo Umeseaka, disclosed this saying, “We are almost at the commissioning stage.” When completed, the mega mall which seats on top 28 hectares of land would have provisions for banks, cinema, and automated warehouse with bonded terminal, 10 megawatt 24 hours power supply, fire station, free ecommerce weblink for all businesses to enable online transactions to be executed between the businesses and their customers. According to Umeseaka, two distinctive features stand the Aba Mega Mall out from other malls in Africa. With a 100,000 square meters leasable space, the mall is the biggest in Africa. Also, Umeseaka explained that the concept of an ecommerce weblink for all the businesses, would enable buyers to transact business with the owners from anywhere around Nigeria and beyond.

UAC strengthens relationship with youth market

s part of its corporate social responsibility, CSR initiative, UAC Nigeria Limited, owners of MR. Biggs brand has donated sets of Nike football brand to Ilupeju All Stars football club. Explaining the rationale behind the initiative, Eustesia Ogunsusi, Ag Marketing Manager, UAC said the gesture is to support members of the club’s career. “This is in appreciation of what they are doing for themselves and for the country. We believe in work and play.

SEC tasks stockbrokers on restructuring of entertainment industry STORIES BY By PETER EGWUATU PETER EGWUATU

he Securities and E x c h a n g e Commission, SEC has tasked stockbrokers to restructure the entertainment industry to enable it access funds from the Nigerian capital market and act as catalyst to the development of the industry. The Director General, SEC, Ms Arunma Oteh, who gave the advice at the 18 th annual Chartered Institute of S t o c k b r o k e r s conference held in Lagos said the entertainment industry following the rebasing of the country’s Gross Domestic Products, GDP contributed about 4.2 per cent. So, the stockbrokers and other operators in the capital market have to find a way to restructure the entertainment industry to make it attractive for investors to invest in the sector. The industry has huge potentials and needed to be unlocked. According to her “The entertainment industry projects Nigeria very positively and provides jobs for the teeming youth. So funding is key to its growth and development. On how the capital market can support the entertainment industry, she said “It can be done through Asset based lending and securitization. It is only when the industry is structured very well that it will be able to access the market, just like what J.P Morgan did in America.” Corroborating her view, the Minister of Tourism, Chief Edem Duke, said “There is need for the capital market to connect the entertainment industry. If the capital market can provide funds to the sector, it would explode and become a major source of revenue for Nigeria. Duke, who was represented by a top official in the ministry, Mr.Akin Adejuwon said “ I want to encourage the

stockbrokers to package the entertainment industry in order to make it realize its potential. The President Jonathan's administration is committed to boosting the industry and that was why he created the $200 million “intervention” fund for creative industries two years ago.” Mr. Ben Murray Bruce commended the CIS for choosing the topic “Capital Market: The key catalyst to the development of the entertainment industry in Nigeria” . According to him “The entertainment industry on its own developed itself, even with bad policies of government in the past. The finance industry has in the past not been supporting the entertainment industry. If the finance industry supports the entertainment industry, the sector would grow faster and even explode to contribute meaningfully to the growth of the economy. The finance industry is conservative in investment and that has affected the entertainment industry negatively. There are abundant talents and ingenuity in the industry and these people need to be encouraged so that they can further create job opportunities. In his remark at the conference, the President of

CONFERENCE - From left, Barrister Mag Eric Breiteneder, Austrian Investors Association, Taiwo Oderinde and Edwin Enobakhare, both of Proactive Shareholders Association of Nigeria during the World Federation of Investors, WFI conference held in Australia. CIS, Mr. Albert Okumagba said “The institute is undergoing rapid transformation and would do all it can to encourage its members to connect the entertainment industry to the capital market. According to him “We

would like to see the entertainment industry raise funds from the capital market. We would like to have a larger capital market where we would have private sector driven exchanges. such as commodity exchanges."

Standard Chartered penetrates retail banking, rewards customers

s part of its commitment to penetrate the retail banking space and reward both existing and prospective customers, Chartered Bank has organised a Mega Reward promo.The Mega Reward promo, weekend saw Mr. Taiwo Ayoku carting away a Porsche Cayenne car as the star prize winner, while Mr. Olabode Makanjuola and Mr. Babatunde Oriolowo went home with N1 million each. Addressing newsmen during the presentations of the prizes in Lagos, Managing Director/Chief Executive Officer of Standard Chartered Bank said “It was a continuation of the bank’s efforts to further penetrate the retail banking space and deliver added value to our growing customer and deposit base. The Mega Rewards Promotion represents a unique offering in the banking industry where customers can win mega prizes simply by maintaining a savings or current

account with Standard Chartered Bank.” Continuing she said “Today marks another demonstration of our brand promise. “Here for Good”. We are here today to fulfil that promise by rewarding our loyal customers who have chosen Standard Chartered Bank as their trusted partner. “As a bank that connects its customers to global opportunities around the world, Standard Chartered Bank has built a reputation of trust for over 150 years. We value our relationship with our customers because we believe that the strength of any relationship comes from listening, understanding and responding adequately to the needs of our customers. This is why we commenced the 2014 Mega Rewards Promotion in February, to meet some of the financial goals of our customers. “We also believe that our

customers deserve better banking experiences. As a result we have strengthened our digital channels with our award winning Online banking platform and Breeze Mobile banking and increased our branch footprints across the country. Our drive is to make banking simpler, more transparent; very convenient and more need based.” Commenting on the requirement for entry, Head of Brand and Marketing, Standard Chartered, Mr Diran Olojo said “As part of efforts to encourage our customers to save their money, we announce during the Press briefing, which took place on February 13, that we are set to reward our customers with mega rewards and the following Monday, February 17, we unveiled the Mega Rewards Promotion which ran till June 30, 2014.”

Vanguard, MONDAY, NOVEMBER 3, 2014 — 25

Corporate Finance

Guinness posts N1.96bn profit before tax in 3 months STORIES By NKIRUKA NNOROM

uinness Nigeria Plc has recorded N1.96 billion in profit before tax for its first quarter ended September 30, 2014. This represented six percent growth over N1.87 billion posted in the same period in 2013. Also, the gross profit for the period rose to N10.55 billion from N10.46 billion recorded in equivalent period in 2013, while total assets stood at N133.84 billion as against N132.33 billion posted in 2013. There was also a slight reduction in the cost of sales with the figure falling to N10.49 billion from N11.95 billion recorded in first quarter in 2013. The results also showed a marginal increase in admin expenses to N2.53 billion from N2.39 billion, largely due to the company’s recent investment in transforming its route to consumer infrastructure. Commenting on the results, Mr Babatunde Savage, Chairman, Guinness Nigeria Plc, said the board is optimistic of sustaining the trend for the remainder of the financial year. “We are pleased to report a year on year increase of six percent in our profit before tax figure.

The board is confident that this heralds a return to growth for the company as we begin to reap the dividends from the investments that we have made in areas like our capacity expansion and route to consumer infrastructure.” Mr. Seni Adetu, Managing Director/Chief Executive Officer, Guinness Nigeria Plc said “We are pleased to announce this turnaround in our financial results. In the period under review, we have remained focused on our strategic imperatives and this has translated into the increase in our profit before tax.

“Our cost of sales declined by 12 percent year-on-year, YOY, with gross profit remaining flat in the quarter. We are also reporting a significantly higher tax number as a result of the tax incentives which was reflected in the numbers for the first quarter of the previous year following approval from the Nigerian Investment promotion Commission, NIPC. This will not recur going forward. Overall, we feel positive that with our core brands and great innovation backed by our strategic investments, we will continue to drive both top and

bottom line growth.” Guinness Nigeria was established in 1962 and was the first country to have a Guinness brewery built outside of the British Isles. Nigeria now represents the largest market for Guinness by Net Sales Value in the world. Products from the brewer’s stables include Guinness Foreign Extra Stout, Malta Guinness, Harp Lager beer, SNAPP, Orijin Bitters and ready-to-drink amongst others.

MEETING - Left: Mr. Kayode Falowo, Vice President, Nigerian British Chamber of Commerce; Arc. Emeka Awagu, immediate past president; Prince Adeyemi Adefulu, President and Mr.s Margaret Eshiett, Deputy Director, Standard Organisation of Nigeria, SON, representing the Director General, Dr Joseph Odumodu at the Breakfast meeting hosted by NBCC in Lagos. Photo Lamidi Bamidele.

Fidelity Bank partners MoneyGram, launches outbound transfers F

idelity Bank Plc in partnership with global money transfer giant, MoneyGram, has launched outbound money transfer services, thereby giving Nigerians the opportunity to transfer the Naira abroad. The newly launched MoneyGram outbound money transfer service, Naija Sends, allows Nigerians to send money abroad through any Fidelity Bank branch in Nigeria while the funds are received in dollar or the currency of the receiving country. With this service, Nigerians can now send money to countries like UK, USA or any of the 200 countries from Nigeria through Fidelity Bank. Speaking at the launch in Lagos, the Managing Director/CEO, Fidelity Bank, Mr. Nnamdi Okonkwo, stated that the sender does need to be a customer of Fidelity Bank, saying that the service is open to everybody. He stated that already, the bank has done 156 outbound money transfer transactions worth about N35 million through six of its branches in one day.

Okonkwo noted that the bank would bring its capacity in Straightthrough-Processing money , over which it has won three consecutive awards from Deutsche Bank, to bear on the new service. He said, “As you may know, over the years, Nigeria has been a receive-only country, but now under the leadership of the new Central Bank of Nigeria, CBN’s governor, we are now a send country as well. We all have relatives abroad who from time to time send money home, and we also know that a lot of us here need to send money to people abroad. “In the past, some feel people feel that the only way to send money abroad is to go the bank and fill Form A. Alternatively; some simply go the Black Market and buy dollar. What the Central Bank has done is to make it easier for you to send money outside Nigeria and the person you are sending it to will receive dollars. “For us at Fidelity, we are happy about this development and we will

capitalize on our efficient processing records, for which we have won a couple of awards, to ensure that we process this very smoothly.” Also speaking, Kemi Okusanya, Regional Manager, Anglophone West Africa, MoneyGram, commended the new management of CBN led by Godwin Emefiele, for adopting the initiative, saying that it has been the yearning of many Nigerians over the years. She stated that with the launch of outbound transfer, the CBN can now have a accurate data for forecasting and planning, adding that the partnership isn supportive of CBN’s financial inclusion programme. She assured of the security of the system, saying that Moneygram has enough technology to monitor transactions going through its system. “You can’t just go through our network to send money without our knowing who the sender and receiver are. So, we have processes in place to track fraudulent practices,” she said.

Eastern Premier Feed commissions N5bn ultra-modern Mills

astern Premier Feed Mills Company Limited, a Subsidiary of Flour Mills Nigeria Plc. (FMN), located in Calabar, Cross River State, is set to commission its ultra-modern Integrated Feed Mills today rd (Monday 3 November, 2014). The inauguration will be performed by His Excellency, Sen. Liyel Imoke CON, the Governor of Cross River State and the special guest of honour at the occasion is the Honourable Minister of Industry, Trade and Investment, Dr. Olusegun Aganga, CON. The Chief Host of the event is Mr. John G. Coumantaros, the Chairman of Flour Mills of Nigeria Plc. The inauguration ceremony will be graced by the presence of many dignitaries from in and outside the state, valued customers and other stakeholders. The Feed Mills which has a total size investment of over N5 Billion and a work force of over 200 is the biggest single ultra modern, automated animal feed mill plant in sub-Saharan Africa with a total installed capacity of 370,000 metric tons per annum (mtpa).

Wall St. rallied broadly as BOJ ramps up stimulus

he Dow industrials hit a record high on Friday as stocks rallied on Wall Street after the Bank of Japan significantly ramped up its stimulus program, just days after the Federal Reserve wound down its own package of U.S. economic incentives. The S&P 500 came within 0.25 percent of its record and the December e-minis contract ESZ4 hit an intraday record earlier. Gains were broad, with close to 90 S&P 500 components hitting new 52week highs and around 90 more trading within 2 percent of a record. The BOJ’s board voted 5-4 to accelerate purchases of Japanese government bonds while tripling its purchases of exchange-traded funds and real-estate investment trusts.

26 — Vanguard, MONDAY, NOVEMBER 3, 2014

Commodity Index Oct 24,- Oct 30, 2014

Micro-Finance

SON deepens call for quality, standard of local goods …as substandard goods drop to 40% Stories by PROVIDENCE OBUH & JOY UNUANE

tandard Organisation of Nigeria, S O N , weekend, intensified its call for quality and standard of made-inNigeria goods, revealing that the rate of substandard goods reduced to 40 percent in the last four years. This was made known by the Director General, SON, Dr. Joseph Odumodu, during a world press conference in Lagos. Odumodu said that the state of the agency was nothing to write home about as it's lack of capacity was huge; 85

percent of local products were substandard; promoters of substandard products were thriving in illicit trade, unwilling to voluntarily stop their harmful activities and pervasive ignorance of about the harmful effect of fake products on consumer health and on the national economy. Meanwhile, the organization succeeded in: the launch of zero tolerance campaign to rid the market of fake and substandard goods; massive public enlightenment through media and stakeholders engagement to draw attention to the hazards of fake and substandard products; certification of SON to ISO 9000; inauguration of National

Quality Policy Committee; new ultra modern, world class laboratory facility under construction, among others. “If we allow substandard product to thrive in our country, we are saying the local industry should remain under standardized. So much has been done to stabilize the standard of made-in-Nigeria goods but we are not where we suppose to be as the rest of the world. “Nigeria is the giant of Africa yet it rates low in standardization in Africa and nowhere in world ranking. All hands must be on deck to pull us out of the wood into the global standard tray’” he said.

First Lady, NCWD, others tackle challenges facing women, girls

irst Lady Dame P a t i e n c e Jonathan, National Centre for Women Development (NCWD) and Friends Africa collaborated, penultimate week, with a view to addressing identified challenges facing women and girl child in Nigeria. Speaking at the Women and Girls summit in Abuja, Jonathan said that the summit become necessary in order to urgently address the issues of Education, Health, Safety and Security and Economic Empowerment facing women and girls in the country. According to her, “There is no meaningful development without women, therefore individuals and corporate organisations in Nigeria must continue to support and partner with women to realise the goals and objectives of the summit” Minister of Women Affairs and Social Development, Hajiya Zainab Maina, said, “With the support of w e l l - m e a n i n g Nigerians, women will be able to care for

themselves, contribute to the development of their families, communities and the nation” “We cannot claim to be developing if we do not recognise the sacrifices women and girls have to make. From the Aba Women Riot of 1929 over double taxation by the then colonial administration, the fortunes of women and girls have continued to improve as a result of access to education.

Women and girls represent the heartbeat of any nation. Our women and girls hold the key to the untapped potentials of this great country,” Maina said. Director-General, National Centre for Women Development, Lady Onyeka Onwenu, said that the summit was a “game changer ” in policy planning and implementing programmes for the GirlChild and women in the country.

AMFB Bags Lead Award again

ccion Microfinance Bank (AMfB) has again bagged 2014 Lagos State Enterprise Award (LEAD) as Best Micro-finance Bank of the year. The award maintained for four consecutive years is in acknowledgment of the bank’s contributions to sustainable development, commitment to financial inclusion and impact on the nation in general as detailed in LEAD Centenary 100 Brands, a research-focused publication executed in joint partnership with the National Orientation Agency (NOA), Federal Ministry of Information with support from the Lagos State Government, the CBN and UNIDO. Also the bank emerged the LEAD Centenary MfB of the Year for its effort on the socio-economic development in Nigeria. MD/CEO AMfB, Ms Bunmi Lawson, said, “We are pleased to win the LEAD Award for the 4th consecutive year 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, NOVEMBER 3, 2014 — 27

Homes & Housing Finance

•Residential estate in Lekki, Lagos

Nigerians, others spend N158bn on London homes in 3 years Stories by YINKA KOLAWOLE, with agency report

ealthy Nigerians led other African nationals have spent more thanN158,979,274,500.00 (about £600 million) on property in London in the past three years. A report released by Beauchamp Estates, which sells some of London’s most expensive homes, also revealed that they spend almost £4million (about N1 billion) every week on London homes. The up-market estate agency noted that Nigerians are the biggest spenders, splashing out £250 million on London homes in the last three years, adding that the other buyers are from Ghana, Congo, Gabon, Cameroon and Senegal. According to the report, the wealthy buyers typically spend between £15 million and £25 million on each home. While African buyers only account for 1.5 percent of transactions in the ‘ultra prime’ London market, they make up 5 percent of sales by value - up from 2 percent in 2012. Nigerians listed in the report include Aliko Dangote, business magnate and Africa’s wealthiest man; Folorunsho Alakija, a billionaire oil tycoon, fashion designer and philanthropist, who is said to have recently bought four apartments in One Hyde Park, the super-exclusive development in Knightsbridge. The report added that Alakija’s Britishborn nephew, Rotimi Alakija, who goes by the stage name of

DJ Xclusive, has also invested property in London. Gary Hersham, Managing Director of Beauchamp Estates, revealed that he has had three rich Nigerians enquiring about homes in the past week alone. “I’ve had an upturn in African buyers over the last few months. The situation in West Africa at present is pushing rich African buyers back into Central London at a significantly higher level than is normally experienced. While war, disease and terrorism in West Africa grab media headlines, actually for super-rich Africans its domestic wealth, cultural ties to London, general safety and education

for their children that are the key attractions for buying a home in central London.” He said these super-rich look to buy property in the ‘platinum triangle’ which is made up of Mayfair, Belgravia and Knightsbridge. Hersham added: “Continental African buyers or luxury tenants in London are currently where the Russians and Ukrainians were five years ago. At present virtually all the transactions are for end use, not rental investment, which indicates that the African buyer market in London has significant room for growth and maturity. Nigerians have been long standing property

purchasers in the central London market, going back to the early 1980s. However, in the 1980s and 1990s they typically purchased houses in North London, in Hampstead, St John’s Wood and Primrose Hill. Now, enhanced wealth has enabled them to move into the ultra prime market in Mayfair, Belgravia and Knightsbridge, and have been joined by affluent purchasers from other West African and French equatorial states. Around 80 percent spend between £15 million to £25 million on a residential property, with 10 percent spending more than £30 million, the remaining 10 percent spending less than £10 million. If they are not buying, they are renting luxury homes for up to £15,000 per week and staying for between six weeks and three months.” The estate agency report noted that London’s reputation for having a residential property market, which is secure and a stable investment, is one of the main reasons wealthy Africans are buying. Another reason is historic cultural and community ties. Nigeria is a Commonwealth country and there is a community of 70,000 in London. There are a similar number of Ghanaians there. The third reason is education, with King’s School Canterbury, Wycombe Abbey, Cheltenham Ladies College, Eton, Harrow and Bradfield are among the favourite private schools for wealthy families from Africa.” This is corroborated by the Nigerian embassy in London, Nigerian nationals spend more than £300 million per annum on tutoring, accommodation, fees and equipment at British schools and universities.

Driving real estate development with tourism in Nigeria

he rebranding of Obudu Mountain Resort (formerly known as Obudu Cattle Ranch) in Cross River State led to an influx of tourists both from within and outside Nigeria thus creating revenue for the state government and private investors. This development was an eye opener for other states in the country to the many benefits of tourism to real estate, which ultimately leads to the creation of new revenue opportunities. Nigeria is blessed with many natural and human resources. As one of the most naturally picturesque nations in the world, tourist attractions abound in Nigeria, ranging from natural attractions like

hills, waterfalls, springs, lakes, mountains, rocks, beaches, etc; to man-made attractions like resorts, parks, game reserves, ranches, etc; and cultural attractions such as festivals, carnivals, etc. A study by Lamudi Nigeria however shows that only a few out of over 70 tourist centres which spread throughout different states in the federation (and each area hosting as much as 100,000 visits a month) generate substantial revenue. These tourist attractions, mostly resort centres, comprise of revenue generators like luxury rooms, outdoor facilities such as recreational parks, swimming pools, golf course, tennis courts, horse

riding arenas, bird watching facilities, boat riding and other activities localized to that area. The study obtained from an online release by Katy Campbell, Lamudi’s Global Communications Director, noted that places like Tinapa Business Resort in Calabar, La Campagne Tropicana Lagos, MicCom Golf Course Ada in Osun State, Oguta Lake Holiday Complex in Imo State, Le Meridien Ibom Golf Resort in Akwa Ibom, among others, have joined the league of revenue generators for the real estate industry in Nigeria. However the overall percentage of explored real estate investment in tourism industry in Nigeria is less than 2 percent.

FG sets up committee on land policy

he Federal Government has set up an inter-ministerial committee to develop a national land policy in a bid to ensure effective use of land resources in the country. Minister of Lands, Housing and Urban Development, Mrs Akon Eyakenyi, explained at the inauguration, in Abuja, that producing a nationally acceptable land policy calls for collective efforts of all stakeholders. She said that the document to be produced by the committee would be made available to all stakeholders and subjected to a national validation workshop scheduled for the first quarter of 2015. Eyakenyi, who was represented by the ministry’s Permanent Secretary, Dr Ezekiel Oyemoni, noted that land is the most critical factor in social, cultural, political and economic life of a nation and an indispensible element in sustainable development. “The fact that land is a scarce resource and inelastic in supply, underscores the need for prudent utilisation of its resources,” she stated.

US mortgage rates rebound continues

ortgage rates in the US moved higher for a second consecutive week, with the benchmark 30-year fixed mortgage rate rising to 4.10 percent, according to Bankrate.com’s weekly national survey. The 30year fixed mortgage has an average of 0.23 discount and origination points. The average 15-year fixed mortgage rate increased to 3.27 percent, while the larger jumbo 30-year fixed mortgage rate inched higher to 4.11 percent. Adjustable rate mortgages were mostly higher, with the 5-year ARM climbing to 3.17 percent and the 7-year ARM bouncing upward to 3.80 percent. Mortgage rates continued their slow rebound from the 17-month lows established two weeks ago, rising for a second consecutive week as economic and financial market tensions eased.

28 — Vanguard, MONDAY, NOVEMBER 3, 2014

Interview

C M Y K

‘Sugar sub-sector needs N51 bn seed money from FG’ DR. Abdul-Latif Demola Busari is the Executive Secretary, National Sugar Development Council, NSDC. In this interview with FAVOUR NNABUGWU, Busari talks about the need for Nigeria to check importation of sugar and support the sugar subsector with $310m to encourage local sugar production in order to help grow the sugar industry and help it not only so attain selfsufficiency in sugar but to sustain it. Excerpts: be saving the country $750 million in foreign exchange. Definitely that is going to have an impact on the economy. If we are going to be able to do that, in spite of all the giant effort of the government in providing power for industries for domestic use, we still have some challenges in terms of power and the master plan is set to generate within 400-650 MegaWatts of electricity. So all those are definitely going to have an impact on the Nigerian economy in terms of jobs, electricity generation, in terms of saving in foreign exchange. If we are able to implement it as planned, it should have a lot of impact on the economy. What are the constraints facing the sugar master plan? I want to look at the constraints in three ways. Firstly, we have the general constraints that affect everything and anything in Nigeria regardless of what you are doing. Then we have the constraint that affect the

agricultural industry as well as the manufacturing sector of the economy because we operate in both segments. Then you have sugar sector specific constrain. In terms of the general constrains, we have the issue of security; we have had some investors that have indicated interest in coming but they are a bit concerned about the current security situation in the country and want to wait to see what happens. So I think on that there isn’t much we can do as a council than to support our government to ensure that we are able to bring the insurgency to an end as early as possible to allow investors to really come into the country. Then, when you come to the manufacturing and agricultural sector, we do have certain constraints that affect operation. For us in the Sugar industry, I want to look at the issue on some incentives that the master plan promises investors for which we are having some challenges at delivering. I

•Dr. Abdul-Latif Demola Busari

will give two examples - the master plan says there should be a ban on importation of package sugar, so far one particular brand, St Louis, is

What stage is the national sugar master plan? ell, you will recall that the implementation of the sugar master plan took off January 2013, so we are just about 22 months into the implementation. Coming to the master plan itself, in section 12 subsection 3, the first two, three years are mainly for acquiring land. Don’t forget we are talking about thousands of portions of land that need to be acquired, then developing the land, acquiring the machineries. We will also have to come up with designs, financing models that will be used. Those are what we are currently engaged in. We have said that we already have about 17 sites earmarked and about seven investors. Dangote is the leading investor having about seven to eight various sites for the company. So they are acquiring the land, doing some feasibility study after which they will come up with a design for both the field and factory development and they will go into talks with their technical partners, mobilizing the resources required to do both field and factory development and they start business. The only thing I can say is that we are on track, two years into the project we are on track, we are doing exactly according to the timeline in the master plan. What is the expected impact of this master plan on the Nigerian economy? We won’t know the impact now until we have concluded the implementation of the plan itself. But of course, we can have an idea of what the impact will be from the deliverables that the master plan states itself. It states that at the end, even before the end of the 10 year plan period, we should begin to see some noticeable things on the impact on our economy. For instance, it plans to generate about 114,000 jobs. When you consider that Nigeria currently has about 23.7 percent unemployment rate of 170 million people, that is a lot of unemployed people and 114,000 may not amount to much but if you add up all the jobs to be created from the various sectorial policies like the sugar policy, the automobile policy, the textile and all other policies in the Nigerian industrial revolution plan then you know we are set to have the manufacturing sector of the economy making substantial changes. I fact, we are going to increase the contribution of manufacturing to GDP from the current 4 or 5 percent to 15 percent, that is on jobs. If we are able to implement the sugar master plan as programmed, we will

I will give two examples; the master plan says there should be a ban on importation of package sugar, so far one particular brand; St Louis, is still coming into the country and defiles the effort of all who are engaged in that fight.

still coming into the country and defiles the effort of all who are engaged in that fight. Unfortunately as it is now, it is beginning to create the job prospect of the new sugar package companies that we have when the master plan started. If you saw our report on what happened on June 13, about 440 jobs were created in sugar packaging segment of the sugar valuechain. Now if we are unable to stop St Louis from entering the country, those jobs are lost and that is part of the idea of banning package sugar importation because we believe to package sugar and cube sugar is something that Nigerians can do, so why do we want to import. And we have all the raw materials we need to get the sugar we want to package or cube from our refineries. So people can be gainfully employed at that segment of the Sugar valuechain. We also have another incentive which says that all machineries that are going to be used in both the cube and

Vanguard, MONDAY, NOVEMBER 3, 2014 — 29

Interview

‘Sugar sub-sector needs N51 bn seed money from FG’

packaging development, we refer to them as sugar machineries, can come in at zero percent duty. We have challenges getting the Customs to implement this, they are regarding some of the machineries as outside the sugar industry and we are making them understand. For instance, they pick some heavy duty outmoving equipments as such that shouldn’t be regarded as that of sugar but you can’t develop 5,000 to 10,000 hectares of land without this out-moving equipments, we need all these huge outmoving equipments to be able to develop on such a large scale. Well, we are still engaging with the Ministry of Finance as well as the Customs because the danger in that is that it undermines the government. The government makes a promise and they are unable to deliver and it is going to discourage other investors from coming because they will easily point at the promises which haven’t been kept, so when the government makes a pronouncement, I think the least we can do is to ensure that the government is able to live up to that pronouncement. Is the FG not shooting itself on the foot by still allowing St Louis to come into the country after the ban on retail sugar? he way out is simple. We n e e d political will to stop it. We are not saying Nigerians shouldn't patronize St Louis sugar, what we are saying is, come to Nigeria and set up St Louis sugar because they were telling us that this particular sugar has been in Nigeria for over 51 years and Nigerians are used to it. But to package, cube and process sugar is something that Nigerians can do, bring your factory here, set it up and produce here, Nigerians will still love it but we are losing jobs by importing sugar that we can easily produce here and that is why the government in its wisdom allowed the banning of packaged sugar and it is not only for sugar, it is done in vegetable oil, in noodles, in juices, so all those packaging are things that Nigeria has the capacity at this point in time to engage in and there is no point allowing importation just to cube and package sugar. Aside the ugly side of insecurity, what are the mouth-watering incentives for investors? We do have a number of them, I already mentioned the fact that anybody that is going to invest in the sugar sector

Then the high tarrif on sugar import is another of such incentive that is meant to protect the local sugar investors

today, is on pioneer status that means he is going to be on tax holiday for the first five years of operation. All the machineries that you bring in either for the field

have some incentives in terms of protection of the sugar industry. These ones I mentioned, are to attract the investors, so when you bring the investors you need to protect their investment, the issue of packaging sugar is one of them. Then the high tarrif on sugar import is another of such incentive that is meant to protect the local sugar investors. Then for the agricultural end of sugar production, we have a scheme of outgrowers, don’t forget that the master plan says that 40 percent of all the sugarcane used in the industry should come from the rural population around the sugar industry and you know that the people at the level of the sugar production don’t have a lot of means to do that so there is a provision in the master plan to collateralize the cost of their production so that they can produce sugar cane. We do that through the Bank of Agriculture and the Bank of Industry, and they will provide the funds for their operations but the master plan of the

•Dr. Abdul-Latif Demola Busari

development or factory development are going to come in duty-free. Also, if an investor invests in public infrastructure - public infrastructures are those we expect the government to take care of - if because it is not avaliable and an investor puts his money on it, he is entitled to 30 percent tax rent credit beside the fact that we also

sugar council or the government shares the reap by putting down 50 percent of the collaterals and once they produce they sell, make back their money and pay their loans. So these are some of the things in the master plan to encourage the investors to invest. How have you dispensed the N2bn from the Bank of

Agriculture? It's not long we signed the MoU with the Bank o Agriculture. We also signed one earlier with the Bank of Industry. Like I told you about the stage we are now; people are at this stage of acquiring their land, talking to their technical partners, at the stage of talking to their financiers, they are at the stage of designing their projects, it is when they do all that, that they have a clear picture of what it is going to cost them then they think of how are we going to source these funds and then apply. Though, we do have some applications currently, especially for the SMEs that are with the Bank of Agriculture and even one or two with the Bank of Industry of industry. We have outgrowers farmers that also want to acquire mini sugar plants to produce sugar. We have in Oyo state, we have in Zamfara, we have in Kebbi, Sokoto, Osun state and one small farm in Papalanto in Ogun State. So we have two or three of them particularly in Oyo, Sokoto and Kebbi that their applications have been forwarded to the Bank of Agric. The mini plant in Markashi and another one in Ilawo all have their applications in the Bank of Industry. The bank has to carry out the process diligently even though it is going to be cheap and have very liberal terms but the bank should still be convinced itself that it is a viable project and that hey will be able to pay back the loans. So that is the stage we are in now, they need small loans to develop nurseries and crop growth. How much did they take? They took N48 million early this year and they are processing another N54 million for them at the moment and they have sent in an application for N430 million for their machineries and the Zamfara people have brought in their application for about N28 million for crop loan. The major ones are coming in but like I said, they are still in the stage of designing and coming up with their total financial cost before they start sourcing for funds. Have you realized the $3.1bn needed for the implementation of the sugar master plan? I need to first say the bulk of that fund is not supposed to be put down by the government. It is just the total cost of implementing the master plan, the bulk of it will come from private

investors but having said that, the sugar industry also need seed money from the government just like the kind of thing that the government did for the SMEs, N250 billion. We need something like that. Originally, we proposed 10 percent of the total cost of the master plan implementation which is $3.1 billion. We said that government should give us at least N51 billion (about US $310 million) which we refer to as seed money to assist some of the investors because anywhere in the world, part of the way government demostrates its commitment besides giving that enabling envirnoment, besides reeling out good policy that everybody can buy into which we already have, is also by showing its commitment by putting in some money which gives the investors some comfort to ensure that the project doesn’t fail because his own money is tied to the project. So we believe the sugar industry also needs seed money for investors to show more interest. How much do you generate from sugar levy? he total from sugar levy for the one or two years is N5 billion per annum, what is N5 billion to a capital intensive industry like ours. N5 billion is not sufficient for one single plant to do its field development, because they look at what we have; with Bank of Agriculture, we have N2 billion, with Bank of Industry, we have N10 billion. We have actually N5 billion, the Bank of Industry have N5 billion to create a N10 billion pool. In Bank of Agriculture, we put down N1 billion down, the bank put another N1 billion to march it making the total N12 billion. N12billion is a thing that a huge company can just wipe off. So we still think that the sugar industry still needs substantial fund injection in form of seed money that will give comfort to investors. We have seen the policy is very good and if the government demonstrates political will which so far they are doing, if you ask all the people that have invested so far, they will tell you that everything they need from the sugar council has provided except for the few ones that I mentioned and we are still engaging with other government agencies to deliver on that.

30 —Vanguard, MONDAY, NOVEMBER 3, 2014

MARKET REPORT By PETER EGWUIATU

he Nigerian Stock Exchange, NSE index and market capitalisation continued to nose dive last week as both index and market capitalisation dropped by 3,93 per cent and 3.64 per cent respectively. The drop in the stock prices of some of the highly capitalised firms on the Exchange across sub sectors contributed significantly to push down the index and market capitalisation. The index and market capitalisation are two major market indicators that measures the performance of the Nigerian stock market. Specifically, Transnational Corporation of Nigeria, Transcorp Plc led , a highly capitalised firm led the losers’ chart dropping by 96 kobo to close at N4.04 from N5.00 per share it opened with during the week. It was followed by United Bank for Africa, UBA Plc , another highly capitalised firm , dropping by 91 kobo to close N4.75. Cadbury Nigeria Plc, also a highly capitalised company nosedived by N7.11 to close at N42.78. Other losers include: Ikeja Hotel Plc, Union Bank of Nigeria Plc, Skye Bank Neimeth International Pharmaceuticals Plc, PZ Industries Plc, amongst others. On the gainers side, Evans Medical Plc led the chart as it C M Y K

Highly capitalised firms drag NSE index, capitalisation down increased by N1.95, followed traded in 12,321 deals; thus by Royal Exchange Assurance contributing 75.84 per cent Plc which gained four kobo to and 56.15 per cent to the total close at N0.55. R.T Briscoe equity turnover volume and gained N 0.06 to close at N0.90. value respectively. Natural Other gainers include: Sterling Resources Industry followed Bank Plc, Continental with a turnover of 200.178 Reinsurance Plc, Beta Glass million shares worth 100.153 Plc, amongst others. million in 16 deals. The third Meanwhile, a turnover of place was occupied by 2.097 billion shares worth Conglomerates Industry with N20.231 billion 153.749 in 21,802 deals m i l l i o n were traded shares worth last week by N982.796 investors on million in the floor of the 1,525 deals. exchange in Trading in contrast to a The drop in the top three total of 1.413 equities the stock prices billion shares namelyof some of the valued at Mansard N 1 7 . 0 3 8 highly Insurance Plc, billion that Multiverse capitalised exchanged Plc and firms on the hands last week Ecobank Exchange in 24,427 Transnational deals. across Incorporated The Financial (measured by subsectors Services volume) contributed Industry accounted for significantly to (measured by 622.729 volume) led the push down the million shares activity chart worth N3.771 index and with 1.590 billion in 581 market billion shares d e a l s , valued at capitalization contributing N11.360 billion 29.70 per cent

and 18.64 per cent to the total equity turnover volume and value respectively. Also traded during the week were a total of 100,812 units of Exchange Traded Products (ETPs) valued at N1.765 million executed in 13 deals compared with a total of 702,099 units valued at N12.971 million transacted last week in 19 deals. (See summary in the table below) RETAIL BONDS There were no transactions recorded in bonds in the week under review. However, a total of 4,600 units valued at N4.768 were transacted last week in 1 deal. Meanwhile, all the indices on the NSE depreciated during the week under review with the exception of the NSE Insurance Index that rose by 0.93 per cent to close at 147.96 while the NSE ASeM closed flat. MARKET NEWS There was Value Added Tax (VAT) Exemption of Commissions on Stock Exchange Transactions announced last week. Further to the measures announced by the

Coordinating Minister of the Economy and Honourable Minister of Finance (CME) Dr. Ngozi Okonjo-Iweala, CFR on December 3, 2012, to resuscitate the Nigerian Capital Market, the Exchangewas pleased to learn that the VAT exemption is now effective on all commissions applicable to capital market transactions. These are commissions: (a) earned on traded values of shares, and (b) payable to the Securities and Exchange Commission (SEC), the Nigerian Stock Exchange (NSE) and the Central Securities Clearing System (CSCS). The exemption is effective for a period of five years according to the Federal Government gazette on the issue. The exchange’s Chief Executive Officer, Mr. Oscar N. Onyema, OON, applauded the Federal Government for implementing the elimination of VAT on stock market transaction fees. He stated that this is one of the measures announced by the Honourable CME in December 2012 and it is a demonstration that the Capital Market is a key component of the Federal Government’s transformation

Vanguard, MONDAY, NOVEMBER 3, 2014 — 31

E- Commerce

Stories by JONAH NWOKPOKU

r. Mounir Boukali is the Head of Public Relations for TRANSSION Holdings. In this interview, he speaks about the Palmchat brand and the Palmchat car promo that is currently underway in Nigeria. He speaks extensively on why they embark on the promo and how Palmchat users can qualify to win the prize. Excerpts What is Palmchat? Palmchat is free social software, integrating chatting and dating. It supports multiple chatting types like texts, voices, emoticons, and pictures. The app supports the full range mobile platforms ranging from windows phone, Android, IOS, Blackberry and Symbian. Unlike other messaging platforms which requires you have a contact’s details before you can contact them, Palmchat has look around and search by info features. The “Look Around” feature shows Palmchat users around you and how close they are to your location. While the “search by info” feature allows you search for a user based on different values of information. Palmchat is an interactive and fun custom platform. Over 80,000 new friends join every day globally. You are barely a year in Nigeria but you are already offering a car gift, what do you intend to achieve with such gesture? There is nothing fishy. It’s just business. It’s a business strategy, nothing really out of place and that’s quite simple to understand if you look at it much more critically. Yes, Palmchat is serious; a new car is nestling in a car shop for that one lucky Palmchatter, that’s what this promo is all about. When you have a thriving community like Palmchat does, well you can’t help but think out clever ways of turning that community into something of value to you. The thing is, some big playing consumer brands are really hungry to latch on any micro-community, niche, you name it, with significant market size to advertise their products or brands to.

Mounir Boukali

Network marketing system for aloe vera distributors arrives Nigeria

CONFERENCE - From left: Ouwatoyin Sanni, Group Chief Executive Officer, UBA Capital; Mr Bismarck Rewane, MD/CEO, Financial Derivatives Company Ltd; Chinelo Anohu-Amazu, Director-General, National Pension Commission and Mr Gbolahan Elias, Principal Partner, G Elias and Co at the National Pension Conference on Pension Reform Act 2014 held Lagos. Photo Lamidi Bamidele

Why Palmchat eyes Nigeria’s growing e-commerce business — Boukali Can you explain more on the promo and how it works? Plamchat has been offering lots of free gifts to its users but this time it’s a car. And users don’t have to do much like you are applying for a state scholarship. It just works like a referral. Existing users and intending participants are expected to download the Palmchat app, and visit the palmchat.hotreferralinc.com site and register with your unique Palmchat I.D. You will then ob-

tain a referral link to invite friends to download the app, and with this link unique to your ID alone, you earn reward points for every person referred. And you earn extra points, maybe even double points if it’s a girl referred. The person with the highest points at the end date automatically wins the car. The process The process is quite simple. Users will sign up at the promo portal with their AFID. Those

who don’t have the AFID will have to download the Palmchat app first. The registration, Palmchat will send referral link to the participant who then shares the link with friends on facebook and other social media platforms. Friends can also register on Palmchat through the shared link and when this happens, the participant earns a point. In this case, a female friend earns a participant twice the point and the more the points, the higher the chances of winning.

Shoptotmydoor boosts access to 80,000 foreign online stores for Nigerians

IGERIANS can go to over 80,000 stores in the Uk, US and China, use their Visa or MasterCard or even PayPal account to make payment and have their purchases delivered to their internationally assigned address for free, says, online retailer, shoptomydoor.com. According to the retailer, Shoptomydoor receives these packages on behalf of its customers, combines and consolidates them for free, and then charges a discounted delivery cost to have it delivered to customer’s door in a few days. According to Nduka Udeh, the CEO/President of Shoptomydoor.com, “There are 2 main ways this system save Nigerians lots of money. First, we bring to them the lowest cost of everyday items from US, UK and China allowing them to shop direct on these stores without paying a single processing fee. So unlike most other outlets that will charge a 10 percent or more processing fee, our platform allows customers to pay exactly the store charge.

“Second, the service allows customers to use their assigned warehouse to consolidate items from one or multiple online stores abroad. By consolidation, the Shoptomydoor solution cuts out the needs for customers to pay multiple delivery charges from multiple stores and hence has the potential to save indi-

viduals and business up to 80 percent on their traditional shipping cost. He further noted that, “With shipping costs starting from as low as $14 or about N2400, the company has effectively made the shopping and shipping cost from abroad similar to what is obtainable internationally.

Emerging markets offer highest e-Commerce growth — DHL survey

survey by the global lo gistics firm, DHL has shown that Africa offers enormous growth potential for e-retailers given that online shopping is in its infancy in the region. This is, according to Sumesh Rahavendra, head of marketing for DHL Express Sub Saharan Africa who says the recently released ‘Shop the World!’ report reveals that emerging markets offer the highest growth potential for the e-commerce industry. ”Although global e-retailer Amazon celebrated its 20th an-

niversary in July, e-commerce companies in Africa are only now beginning to mark and / or accelerate their presence in the marketplace. An example is Nigeria online retailer, Jumia, which despite being founded only two years ago, is quickly gaining market share within the country which reiterates the region’s potential. A recent report by McKinsey & Company also revealed that, ecommerce could account for 10 percent of retail sales in the African continent’s largest economies by 2025.

IGERIA’S network mar keting industry received a boost over the weekend with the deployment of a global marketing system for the distributors of a leading network marketing company whose products are aloe vera based. The USA franchise, Paragon M L M (www.promarketingsystem.net/ paragonmlm) system, is a standardized operating procedure, which provides Network Marketers three personalized websites – Paragon Attraction, to sponsor prospects into their teams; Paragon Beauty, to sell their company’s aloe based beauty products; and Paragon Wellness, to sell their company’s aloe based health products. According to the promoter of the system, Charles Odibo, Paragon MLM tackles the greatest challenges Network Marketers face in selling products or presenting their business opportunities. These include how to attract quality prospects and present quality information about their products; how to follow-up with them; and how to close the sales. He explained that using evidence-based information, Paragon MLM consistently reveals in shocking details what causes our health to fail, why our skins age faster, makes a compelling case on the need for multivitamin supplementation, and naturally leads to interest in the health and beauty products that the Network Marketers sell.

Nigeria receives award for empowering girls and women through ICT

he International Telecommunication Union (ITU) and UN Women have awarded Nigeria the GEM-TECH award that rewards countries that empower girls and women through ICT policies and programmes. The Federal Ministry of Communication Technology was amongst 37 finalists selected from 360 nominations from 74 countries and went on to win the award in the 7th category of “ICT and Broadband strategies, policies and frameworks that promote women’s digital empowerment.”

32 — Vanguard, MONDAY, NOVEMBER 3, 2014

MARKET DATA

VM | Monday, November 3, 2014 | Issue 017

VM1

TRADING UPDATE Declined Unchanged Advanced

MARKET REVIEW – OCTOBER 20–24, 2014 TOP GAINERS

WTD

TOP GAINERS

WTD

EVANS MEDICAL

12.82

BETA GLASS COMPANY (NIG.)

SECTOR PRICE CHANGES – OCTOBER 20–24, 2014

TOP DECLINERS

WTD

TOP DECLINERS

TRANSNATIONAL CORPORATION OF NIG

-19.2

SKYE BANK

-12.73 -12.61

WTD

ROYAL EXCHANGE ASSURANCE

7.84

AIICO INSURANCE

4.94

UNITED BANK FOR AFRICA

-16.08

NEIMETH INTERNATIONAL PHARMACEUTICALS

R. T. BRISCOE (NIG.)

7.14

PARMA-DEKO

4.82

CADBURY NIGERIA

-14.25

P. Z. INDUSTRIES

-11.67

STERLING BANK

5.83

GOLDEN GUINEA BREWERIES

4.55

IKEJA HOTEL

-13.46

CEMENT COMPANY OF NORTHERN NIGERIA

-11.39

CONTINENTAL REINSURANCE

5.43

FIDSON HEALTHCARE

4.5

UNION BANK OF NIGERIA

-12.8

GUINNESS NIGERIA

-11.26

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

2 1 1 12 16 3 1 5 0 7 6

2 4 6 15 31 5 10 14 5 4 8

1 0 2 4 10 2 0 2 0 0 4

DASHBOARD 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 164.35 0.65 8.50 1.52 0.87 1.91 31.16 20.01 42.78 42.00 12.83 44.44 0.97 0.53 3.79 1.52 215.00 6.23 7.00 6.00 3.43 18.93 11.60 3.89 1.95 3.48 58.33 207.36 51.35 25.00 161.50 3.96 30.51 63.84 0.50 3.00 1.72 164.20 53.20 5.00 8.07 162.00 0.97 0.75 950.05 0.50 20.90 21.66 29.79 1.55 5.23 28.93 0.51 23.84 4.00 0.55 0.86 517.37 2.50 0.50 29.99 2.36 157.71 4.04 13.30 51.05 4.75 1.89 7.90 34.30 0.50 4.21 109.99 0.66 0.95 21.30

Friday

5-day

4-Week

Change, % -3.41% 0.00% 0.00% 0.00% 2.35% 0.00% -0.57% -4.71% 0.00% 0.24% -4.96% -4.98% 0.00% 0.00% -0.26% -4.40% 0.02% 0.00% 3.86% -1.96% -3.92% 0.16% -0.85% -2.75% 0.00% 5.45% 5.25% -3.55% 5.35% -4.14% -4.79% 2.86% -2.24% 0.00% 0.00% 0.00% -4.97% -3.41% 0.00% -2.53% -6.38% -2.41% -3.00% -1.32% -3.06% 0.00%

Change, Week Hi Week Lo % 197.94 164.35 -8.47% 0.66 0.65 -1.52% 8.75 8.47 -1.16% 1.52 1.40 0.00% 0.87 0.80 7.41% 1.92 1.80 4.37% 33.75 30.51 -3.59% 21.00 19.23 0.05% 50.00 42.78 -14.25% 43.99 40.67 3.27% 14.80 12.83 -10.28% 47.89 44.44 -5.06% 0.99 0.92 5.43% 0.57 0.53 -7.02% 4.00 3.79 -0.79% 1.75 1.52 -13.14% 218.00 210.00 0.00% 6.23 5.92 0.00% 7.90 6.74 -9.09% 6.44 5.83 -4.76% 3.80 3.43 -9.50% 19.00 18.11 3.39% 12.90 11.51 -5.84% 4.23 3.80 -4.89% 1.99 1.87 0.00% 3.48 3.26 0.00% 60.95 55.42 -0.31% 219.50 206.17 -5.23% 55.00 48.74 -6.64% 27.49 24.70 -8.56% 184.00 161.50 -10.28% 3.96 3.85 0.76% 32.00 30.03 -0.49% 63.84 60.65 5.26% 0.50 0.50 0.00% 3.11 2.85 5.26% 1.96 1.70 0.58% 173.30 161.50 -3.42% 53.20 53.20 0.00% 5.15 4.81 -0.20% 9.29 8.07 -10.33% 170.18 161.42 -4.71% 1.16 0.97 -12.61% 0.79 0.73 -3.85% 999.00 937.30 -4.04% 0.50 0.50 0.00% 20.90 20.90 0.00% 24.39 21.66 -8.06% 31.52 29.45 -4.98% 1.55 1.55 0.00% 5.26 4.78 4.18% 32.05 28.93 -9.73% 0.51 0.50 2.00% 28.30 23.84 -11.67% 4.35 4.00 -2.44% 0.56 0.51 7.84% 0.90 0.84 2.38% 558.00 517.37 -7.28% 2.80 2.40 -9.42% 0.50 0.50 0.00% 32.00 29.00 -3.26% 2.42 2.23 5.83% 174.00 157.71 -8.31% 5.14 3.99 -18.71% 13.83 13.30 -3.83% 54.02 51.05 -4.08% 5.95 4.75 -16.67% 2.08 1.81 -5.50% 9.05 7.90 -12.71% 42.00 34.30 -10.70% 0.50 0.50 0.00% 4.40 4.16 0.00% 121.93 105.03 -5.12% 0.72 0.64 1.54% 0.95 0.92 1.06% 23.00 21.00 -5.71%

Change, Open Volume % 162.86 0.91% 59,285 0.68 -4.41% 116,818 9.01 -5.66% 3,678,892 1.40 8.57% 17,458 0.80 8.75% 1,404,211 2.11 -9.48% 15,024 32.00 -2.62% 127,486 20.00 0.05% 9,810 53.69 -20.32% 34,639 38.00 10.53% 39,808 15.73 -18.44% 78,506 49.36 -9.97% 20,279 1.00 -3.00% 382,327 0.54 -1.85% 145,915 4.09 -7.33% 697,852 1.90 -20.00% 52,225 218.98 -1.82% 98,501 6.23 0.00% 9,134 8.16 -14.22% 338,947 6.25 -4.00% 1,769,001 3.74 -8.29% 57,057 18.70 1.23% 3,479,373 13.48 -13.95% 4,381,117 4.51 -13.75% 1,653,246 2.05 -4.88% 2,974,605 3.35 3.88% 82,173 61.98 -5.89% 109,460 224.00 -7.43% 37,545 61.01 -15.83% 91,121 30.01 -16.69% 3,543,661 188.98 -14.54% 88,952 4.00 -1.00% 199,546 31.05 -1.74% 101,594 63.84 0.00% 3,266 0.50 0.00% 410,724 2.89 3.81% 3,872,395 1.72 0.00% 167,031 173.30 -5.25% 17,954 53.20 0.00% 263 4.98 0.40% 142,282 9.00 -10.33% 99,865 176.95 -8.45% 371,652 1.10 -11.82% 35,790 0.79 -5.06% 349,478 1050.02 -9.52% 48,699 0.50 0.00% 3,878 22.90 -8.73% 506 26.37 -17.86% 784,382 33.01 -9.75% 26,775 1.68 -7.74% 0 5.23 0.00% 26,234 38.50 -24.86% 30,320 0.50 2.00% 133,359 32.15 -25.85% 109,093 4.50 -11.11% 135,298 0.59 -6.78% 156,355 0.85 1.18% 36,517 639.99 -19.16% 13,808 2.88 -13.19% 1,839,298 0.50 0.00% 175,901 33.25 -9.80% 484,861 2.26 4.42% 2,312,268 183.97 -14.27% 22,341 5.79 -30.22% 5,844,207 15.81 -15.88% 41,141 58.00 -11.98% 196,111 6.66 -28.68% 2,795,368 2.18 -13.30% 505,760 9.15 -13.66% 154,094 47.00 -27.02% 118,841 0.50 0.00% 802,259 4.11 2.43% 140,829 127.00 -13.39% 127,480 0.74 -10.81% 915,765 0.95 0.00% 1,357,405 24.30 -12.35% 4,065,924

-3.30% 1.15% 1.95% 0.00% 0.00% -9.73% 0.00% -1.79% 0.00% -5.00% -1.57% -0.03% 1.29% -1.43% -7.97% 0.00% -3.50% -5.00% 0.00% -3.66% -4.99% 0.00% -1.17% 1.64% -1.49% 1.06% 1.43%

Volume

Open

28,272 1,298 200,560 1,002 31,942 0 2,366 2 1,319 957 5,457 201 5,869 881 8,363 760 12,973 905 12,900 75,395 7,629 69,709 217,441 28,522 158,253 2,692 1,949 1,826 99 260,547 7,033 10,303 1,065 1 410,699 62,821 8,506 179 4 6,459 2,704 13,398 2,150 8,129 1,756 500 0 25,231 647 0 2,499 4 7,236 5,009 1,094 1,165 200 36 49,307 0 7,426 328,113 214 347,924 398 1,667 185,947 7,355 11,837 1,034 2,959 4,992 10,693 134,678 24,300 113,219

179.55 0.66 8.60 1.52 0.81 1.83 32.32 20.00 49.89 40.67 14.30 46.81 0.92 0.57 3.82 1.75 215.00 6.23 7.70 6.30 3.79 18.31 12.32 4.09 1.95 3.48 58.51 218.80 55.00 27.34 180.00 3.93 30.66 60.65 0.50 2.85 1.71 170.02 53.20 5.01 9.00 170.00 1.11 0.78 990.01 0.50 20.90 23.56 31.35 1.55 5.02 32.05 0.50 26.99 4.10 0.51 0.84 558.00 2.76 0.50 31.00 2.23 172.00 4.97 13.83 53.22 5.70 2.00 9.05 38.41 0.50 4.21 115.92 0.65 0.94 22.59

Volume 42,263 4,230 645,278 3,680 92,773 712 36,346 6,281 4,751 12,837 25,392 1,221 43,213 2,756 74,455 16,096 39,088 1,335 127,549 260,703 19,070 1,545,071 1,102,257 586,246 866,559 13,798 8,621 14,068 408 737,598 22,292 89,469 9,183 252 410,699 2,680,530 42,093 9,037 14 22,234 20,651 79,166 7,054 146,046 18,179 1,416 0 149,280 6,921 0 8,937 8,327 33,613 23,211 1,989 16,268 9,693 7,153 331,027 210 166,327 639,786 17,715 1,474,555 6,053 58,263 865,101 89,972 64,103 7,438 153,481 50,564 46,795 287,964 1,006,539 815,099

5-Week trading1

52-Week price range Low 69.00 0.65 7.22 1.25 0.74 1.80 13.87 13.75 42.78 35.96 8.00 44.36 0.91 0.50 1.67 1.52 185.00 5.92 6.74 5.31 2.50 12.40 10.93 3.01 1.85 1.91 55.42 71.03 48.74 22.67 161.50 2.80 21.85 59.18 0.50 1.96 1.33 111.01 36.12 4.56 8.07 140.00 0.79 0.55 937.30 0.50 18.00 10.61 29.45 1.33 4.00 28.93 0.50 23.84 4.00 0.50 0.82 517.37 2.40 0.50 19.00 2.09 146.26 1.80 13.30 42.58 4.75 1.25 7.90 34.30 0.50 3.87 95.01 0.61 0.85 19.50

Close ( )

High 197.94 0.97 10.65 1.86 0.97 3.97 34.60 22.10 110.00 51.66 15.98 79.80 1.29 0.89 4.30 2.27 250.02 10.76 12.49 8.20 5.73 20.28 17.29 4.64 2.86 3.72 83.64 259.94 74.97 31.80 262.00 4.50 32.20 76.45 0.50 3.15 2.64 182.00 70.00 6.46 15.10 189.00 2.08 0.97 1250.01 0.54 25.57 36.89 45.85 2.20 6.25 49.00 0.81 41.06 5.35 0.69 1.49 735.00 4.67 0.50 35.00 2.74 195.50 7.08 21.31 67.85 9.60 3.04 10.89 64.00 0.69 5.70 136.73 1.48 1.40 27.40

YtD

EPS

130.09% -16.86% -11.46% -6.75% -5.43% -42.99% 42.41% 38.67% -55.98% -12.46% 7.01% -27.53% -19.17% -18.46% 73.85% -22.05% -0.54% -39.10% -38.05% -20.00% -27.48% 15.50% -28.83% 1.30% -27.78% 26.55% -28.71% 123.28% -26.64% -9.91% -31.57% 2.86% 7.73% 1.22% 0.00% 20.00% -32.55% 41.55% 2.86% -21.26% -45.66% -1.82% -11.82% -7.41% -19.62% 0.00% -5.04% -18.97% -33.55% -20.51% -0.38% -25.82% -19.05% -35.56% -5.88% 1.85% -39.01% -14.46% -44.57% 0.00% 34.24% -5.60% -9.00% -6.91% -13.50% -8.83% -48.09% -16.74% -17.79% -35.28% 0.00% -12.47% -4.36% -41.59% -25.78% -14.80%

37.00

18.23

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

8.64 3.63 5.74 5.18 5.36 4.42 2.87 14.50 18.17 45.75 18.01 7.65 20.50 11.65 49.98 9.97 12.57 19.62 19.11 16.38 53.85 15.67 7.72 30.93

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

34.00

28.82

19.43 13.69 4.57 8.74 3.63

1.11 2.29 0.35 0.60 8.38

17.79 6.54 5.49

1.34 0.61 0.10

2.87 3.36 15.40 3.75 12.22 46.04 6.36 24.74 2.79 6.55 42.26 26.34 4.65 5.93

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

9.43

0.07

6.13

3.46

3.10 5.41 6.44 5.59 3.66 39.17

6.21 27.25 25.03 11.46 14.75 6.06 5.00 15.79

8.37

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, NOVEMBER 3, 2014 â&#x20AC;&#x201D; 33

VM2

MARKET DATA

VM | Monday, November 3, 2014 | Issue 017

MARKET SNAPSHOT 3-MONTH PRICE TREND OF BELLWETHER STOCKS

ACCESS

8.50 0.10

7.22

PE 5.41

10.65 -1.10 -11.46%

YtD

-1.50 -15.00%

-0.10 -1.16%

20/10

August

September

CONTINSURE -0.23 -19.17%

YtD

-0.13 -11.82%

0.05 5.43%

20/10

August

September

FCMB 0.05 1.30%

YtD

-0.37 -8.69%

-0.20 -4.89%

20/10

August

September

GUARANTY -2.75 -9.91%

YtD

-4.88 -16.33%

-2.34 -8.56%

20/10

August

September

MANSARD 0.50 20.00%

YtD

0.45 17.65%

0.15 5.26%

20/10

August

September

OANDO -5.07 -18.97%

YtD

-6.33 -22.62%

-1.90 -8.06%

20/10

August

September

YtD

-1.16 -0.54%

-15.00 -6.52%

0.00% 0.00

20/10

September

FIDELITYBK YtD

PE 2.87

2.86 -0.75 -27.78%

-0.05 -2.50%

0.00 0.00%

20/10

August

September

GUINNESS YtD

262.00 -74.51 -31.57%

-29.50 -15.45%

-18.50 -10.28%

20/10

August

September

MOBIL YtD

182.00 48.20 41.55%

4.20 2.62%

PE 16.38 -5.82 -3.42%

20/10

August

September

OKOMUOIL YtD

-15.04 -33.55%

-3.21 -9.73%

-1.56 -4.98%

20/10

August

September

-1.50 -20.00%

-0.37 -5.81%

September

FLOURMILL YtD

PE 18.17

83.64 -23.49 -28.71%

-9.12 -13.53%

-0.18 -0.31%

20/10

August

September

HONYFLOUR 0.11 2.86%

YtD

-0.22 -5.26%

0.03 0.76%

20/10

August

September

NASCON YtD

-6.78 -45.66%

-2.58 -24.23%

-0.93 -10.33%

20/10

August

September

PRESCO YtD

-10.07 -25.82%

-9.08 -23.89%

-3.12 -9.73%

20/10

August

September

2.54 15.50%

2.43 14.73%

September

FO YtD

259.94 114.49 123.28%

-10.67 -4.89%

PE 45.75 -11.44 -5.23%

20/10

August

September

INTBREW YtD

2.19 7.73%

3.86 14.48%

-0.15 -0.49%

20/10

August

September

NB YtD

189.00 -3.01 -1.82%

-18.10 -10.05%

-8.00 -4.71%

20/10

August

September

PZ YtD

PE 17.79

41.06 -13.16 -35.56%

-14.08 -37.13%

20/10

August

September

-2.88 -19.89%

-3.15 -11.67%

September

GLAXOSMITH

PE 18.01

74.97 -15.37 -23.04%

-3.65 -6.64%

20/10

August

September

PE 9.97

76.45 -0.26 -0.41%

3.19 5.26%

20/10

August

September

NESTLE YtD

24/10

M T W T

1250.01 -169.95 -15.17%

PE 34.00 -39.96 -4.04%

20/10

August

September

SEPLAT YtD

24/10

M T W T

PE --

735.00 -142.74 -21.62%

-40.63 -7.28%

20/10

August

517.37 40.63

517.37 -87.43 -14.46%

950.05 39.96

937.30 -231.95 -19.62%

63.84 3.19

59.18 0.77 1.22%

24/10

M T W T

JBERGER YtD

51.35 3.65

48.74 -18.65 -26.64%

24/10

M T W T

24/10

M T W T

-0.72 -5.84%

20/10

23.84 3.15

23.84

-4.70 -28.83%

24/10

M T W T

PE 5.36

17.29

August

YtD

11.60 0.72

10.93 YtD

24/10

M T W T

FBNH

PE 30.94

-1.47 -10.28%

September

24/10

M T W T

162.00 8.00

140.00

20/10

August

PE 49.98

32.20

-1.37 -9.65%

24/10

M T W T

30.51 0.15

21.85

0.84 7.01%

YtD

207.36 11.44

71.03

PE 11.46

15.98

24/10

M T W T

24/10

M T W T

0.62 3.39%

20/10

August

PE 3.64

49.00

YtD

PE 5.18

20.28

12.83 1.47

8.00

18.93 0.62

12.40

CCNN

24/10

M T W T

24/10

M T W T

28.93 3.12

28.93

September

ETI

PE 7.72

15.10

24/10

M T W T

8.07 0.93

8.07

1.33 3.27%

20/10

PE 11.65

4.50

2.00 5.00%

24/10

M T W T

3.96 0.03

2.80

-5.98 -12.46%

August

58.33 0.18

55.42

YtD

PE 25.03

51.66

24/10

M T W T

24/10

M T W T

-0.30 -4.76%

20/10

August

PE 13.69

45.85

YtD

PE 3.63

8.20

42.00 1.33

35.96

6.00 0.30

5.31

CAP

24/10

M T W T

24/10

M T W T

29.79 1.56

29.45

September

DIAMONDBNK

164.20 5.82

111.01

-7.11 -14.25%

24/10

M T W T

PE 27.25

20/10

PE 20.50

-27.76 -39.35%

24/10

M T W T

161.50 18.50

161.50

-54.40 -55.98%

August

1.95 0.00

1.85

YtD

110.00

24/10

M T W T

24/10

M T W T

PE 18.23

42.78 7.11

42.78

215.00 0.00 250.02

August

PE 19.43

36.89

DANGCEM

CADBURY

24/10

M T W T

24/10

M T W T

21.66 1.90

10.61

September

185.00

PE 19.62

3.15

24/10

M T W T

3.00 0.15

1.96

-1.16 -3.59%

20/10

PE 7.65

31.80

0.08 0.26%

24/10

M T W T

25.00 2.34

22.67

9.28 42.41%

August

PE 4.42

4.64

PE 39.18

34.60

24/10

M T W T

3.89 0.20

3.01

YtD

PE 6.06

1.29

31.16 1.16

13.87

24/10

M T W T

0.97 0.05

0.91

ASHAKACEM

September

24/10

M T W T

LEGEND

STANBIC

29.99 1.01

19.00

PE 15.40

35.00 7.65 34.24%

YtD

-1.32 -4.22%

20/10

August

September

UBA -4.40 -48.09%

-2.95 -38.31%

146.26 YtD

195.50 -15.59 -9.00%

-13.84 -8.07%

-0.95 -16.67%

PE 12.22 -14.29 -8.31%

20/10

August

PE 2.79

9.60

157.71 14.29

24/10

M T W T

4.75 0.95

4.75 YtD

-1.01 -3.26%

TOTAL

September

UNILEVER YtD

-18.70 -35.28%

-14.70 -30.00%

42.58 YtD

-4.11 -10.70%

PE 24.74

67.85 -4.94 -8.83%

-8.96 -14.93%

20/10

August

PE 26.34

64.00

51.05 2.17

24/10

M T W T

34.30 4.11

34.30

UACN

September

WAPCO YtD

136.73 3M

-10.43 -8.66%

13.30 0.53

13.30 YtD

-2.08 -13.50%

-4.15 -23.78%

20/10

August

PE --5.93 -5.12%

PE 6.36

21.31

24/10

M T W T

109.99 5.93

95.01 -5.01 -4.36%

-2.17 -4.08%

UAC-PROP

September

ZENITHBANK YtD

PE 6.13

27.40 3M

24/10

M T W T

21.30 1.29

19.50 -3.70 -14.80%

-0.53 -3.83%

-3.78 -15.07%

-1.29 -5.71%

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%

20/10

September

24/10

M T W T

20/10

August

September

24/10

M T W T

20/10

August

September

24/10

M T W T

20/10

August

September

24/10

M T W T

7 0.01

0.04%

August

PE 7.29

27.406

11 14

13 May

21/07

June

July

25/07

M T W T

C M Y K

34 â&#x20AC;&#x201D; Vanguard, MONDAY, NOVEMBER 3, 2014

ARENA

VM | Monday, November 3, 2014 | Issue 017

VM3

ART AS AN ALTERNATIVE INVESTMENT

Okwoju Leonard El-Dragg tops Sogalâ&#x20AC;&#x2122;s premiere sales Okwoju Leonard El- Dragg, Untitled, 1992, oil on canvas, 137x97cm estimated between N3,715,2004,248,400 ($21,60024,700) and sold at N4,250,000 ($25,380)

Amon Kotei, Fish Monger, 1993, oil on canvas, 112x112cm estimated between N3,715,200-4,033,400 ($21,600-23,450) and sold for N3,550,000 ($21,200)

Oliver Enwonwu is the director of leading Lagos gallery, Omenka and president of the Society of Nigerian Artists. oliver@omenkamagazine.com

HE SETTING WAS the expansive and well-lit showroom of the luxury car Porsche in Victoria Island, Lagos. The event was the premiere of Sogal, the newest entrant into the Nigerian secondary art market. The auction sales was organized by Lebanese art dealer, Rahman Akar who is also director of one of the earliest established galleries in Lagos, Signature. In attendance were the crĂ¨me de la crĂ¨me of the Lagos art cognoscentiâ&#x20AC;&#x201D; Kavita Chellaram of Arthouse Contemporary, collectors Sammy Olagbaju, Joe Obiago, and Nneka Okeke.

Gallery owners and dealers were also present. Among these were Lagos art dealer, Olasehinde Odimayo, Joseph Umoibom of Terra Kulture, and Chike Nwabogu of Nimbus Gallery, who arguably pioneered the formal art auction trend in Nigeria when he organized Before the Hammer Falls: An Auction of Paintings, Etchings and Carvings in 1999. Indeed, many came to see Elephant in Space, a stunning bronze sculpture by Salvador Dali, the iconic Spanish surrealist, depicting a spindly-legged elephant bearing a cast Plexiglas obelisk upon its saddled back. The sculpture was expected to attract the highest sale having been advertised with an estimate of N12,900,00016,125,000 ($75,000 â&#x20AC;&#x201C; 93,750). However, after the dust had settled, it was not Sal-

vador Dali who achieved the top selling lot but Benin-born artist, Okwoju Leonard ElDragg, with Untitled, 1992, oil on canvas, 137x97cm previously estimated between N3,715,200-4,248,400 ($21,600-24,700) and sold at N4,250,000 ($25,380). El-Dragg graduated from the University of Benin in Nigeria in 1985. He is presently a senior lecturer at the same university in the Department of Painting. El-Dragg works

predominantly in oils. Vibrant colours characterize his works while his themes revolve around the female form, dance and the rich diversity of Nigerian culture as exempliÂżHG E\ WKH ZRUN LQ WKLV VDOH Other crowd favourites were Bruce Onobrakpeyaâ&#x20AC;&#x2122;s Untitled, 1994, black-andwhite etching, 123x243cm, sold at N3,800,000 ($22,692) against its previous estimate of N3,255,000-3,749,600 ($18,750-21,800) and Nii

Amon Koteiâ&#x20AC;&#x2122;s Fish Monger, 1993, oil on canvas, 112x112cm with an earlier estimate of N3,715,200-4,033,400 ($21,600-23,450) and sold for N3,550,000 ($21,200). Interestingly, Kotei born in Ghana in 1915 was the only non-Nigerian artist to break into the top 3 sales despite a strong showing by other artists from several other countries like Iraq, Syria, Senegal, and Zimbabwe. As well as being an accomplished musi-

cian, Kotei is celebrated as one of Africaâ&#x20AC;&#x2122;s most acclaimed artists. He also received recognition for designing the coat of arms of Ghana. He died on October 17, 2011. The Fish Monger is typical of Koteiâ&#x20AC;&#x2122;s oeuvre and features a full-bodied woman in the foreground selling her wares. The predominant blue light HQYHORSLQJ KHU Ă&#x20AC;HVK suggests the evening is setting on a hard dayâ&#x20AC;&#x2122;s work. The paint is applied thickly in vertical brush strokes lending weight to her voluptuous form, as well as the dismembered bodies that frame the painting. 7KH RYHUDOO ÂżJXUH DFKLHYHG from sales on the evening was N38,680,600 ($230,991). Not a bad outing for a premiere auction, which no doubt will serve to add impetus to a growing domestic art market. ;

PRIVATE EQUITY

Synergy Capital Managers on the rise

Akintoye Akindele, founding partner, Synergy Capital Managers

EWS LAST WEEK that CDC, the UKâ&#x20AC;&#x2122;s GHYHORSPHQW ÂżQDQFH institution, has earmarked up to $15 million for the Synergy Private Equity Fund has been applauded

by members of West Africaâ&#x20AC;&#x2122;s ultra-discreet PE universe. A partner at a Big Four 4 audit ÂżUP ZKR ZRUNV FORVHO\ ZLWK buyout and venture capital ÂżUPV LQ WKH UHJLRQ GHVFULEHG WKH FRPPLWPHQW DV ÂľDQ DÉ¤Umation of the silent, and effective work that the fundâ&#x20AC;&#x2122;s VSRQVRUV KDYH EHHQ HÉ¤FLHQWly doing over the years.â&#x20AC;&#x2122; SPEF was launched in October 2013, and will mature 5 years after its close. The genHUDOLVW IXQG LV WKH ÂżUVW WR EH launched by Synergy Capital Managers. It is targeting an internal rate of return of 8 per cent and gross IRR of 30 percent across a low risk, actively managed portfolio of companies. The modest projections ÂżW LQ QLFHO\ ZLWK WKH PDQDJHUÂśV preference for conservatism in managing investor expecta-

Published by

tions by under-promising and over-delivering. The fund prospectus spells out that it will invest in Nigeria and Ghana, according to a 75:25 ratio. Although it does not rule out investing in listed companies, the natural bias will be towards enterprises in the oil and gas, power, consumer goods and services, agro-allied processing, technology and telecommunicaWLRQV DQG QRQ EDQNLQJ ÂżQDQcials. Synergy Capital Managers has come a long way since it opened for business in 7KH ÂżUP ZDV IRXQGHG by Akintoye Akindele, CFA and Ayo Arogbo, CFA. Toye, a chemical engineering graduate has over 15 yearsâ&#x20AC;&#x2122; experiHQFH LQ WKH ÂżQDQFLDO LQGXVWU\ The seasoned strategist cut his

EDITOR: MIDENO BAYAGBON GROUP BUSINESS EDITOR: OMOH GABRIEL

In Association With

CONTENT DIRECTION: OBIORA TABANSI ONYEASO DESIGN & ILLUSTRATION: PUBLICAN MEDIA

C M Y K

teeth at Guaranty Trust Bank, and later made his bones under Okey Enelamah at African Capital Alliance. He has originated, managed, and exited deals across all key sectors of the economy. His partner, Ayo Arogbo has two decades of cognate H[SHULHQFH LQ WKH ÂżQDQFLDO LQdustry. He is widely respected for his cross-sectoral expertise, leadership development skills, and ethical approach to business. Both partners are alumni of the London Business School. ,Q VHYHQ \HDUV WKH ÂżUP KDV earned a well-deserved reputation for studiously ferreting out companies with attractive prospects, and solid management teams, then prepping them for the big time. To date, it has no dud on its record.

2014 has been a good, if dizzyingly busy year at Synergy Capital. The CDC announcement tops the punch bowl of cheering news at the $FFUD DQG /DJRV EDVHG ÂżUP In September, it disclosed that SPEF had raised $56.25 million in its first funding round, a stone throw away from its $75 million target. After a year of intensive marketing, the fund had welcomed four development finance institutions (DFIs), and two funds of funds (FoFs), among other marquee investors to its register. A month earlier, it successfully exited its investment in Ridge Energy, a mid-stream oil and gas infrastructure company through a trade sale. The company was

Vanguard Markets features unbiased, in-depth coverage of corporate and market developments across a wide range of business sectors. Every week, Vanguard Markets delivers essential business analysis and commentary on Nigerian companies, regional economies, and global markets. Vanguard Markets is published by Vanguard Media Limited in association with Customs Street Advisors Limited, a specialist communications consultancy.

founded by Felix Olalekan Adekeye, an Oando alum, in 2011. Synergy Capital took up a minority stake in the TemaGhana-based company in 2012. By the sale date, it had earned over 300 percent on the initial investment for its limited partners, and produced an industry-beating internal rate of return of 84 per cent. It is in roles like these, where it funds and grooms promising companies for future listings, acquisitions, and management buyouts, that Synergy Capital Managers serves a vital economic function. Or as Lloyd Blankfein, chief executive of Goldman Sachs once said, this LV ZKHUH ÂżQDQFLHUV DUH ÂľGRing Godâ&#x20AC;&#x2122;s work.â&#x20AC;&#x2122; No conceit meant. ;

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Vanguard, MONDAY, NOVEMBER 3, 2014 — 35

Aviation

Caverton invests $1.2m in capacity building By LAWANI MIKAIRU

averton Helicopters has invested more than $1.2 million on training of Nigerians in the various cadre within the company. This is a deliberate effort by the company to assist the federal government realize its intention to increase indigenous participation in the industry through the development of human capacity, as stipulated in the Nigerian Content Development Act of 2010. Since 2010 when the company put in place a training programme, 146 Nigerians have been trained at a cost of more than $1.2million. Those trained include “ three personnel for flight operations Ab-Initio, one for Private Pilot License(PPL), two for Commercial Pilot License (CPL) and two for Rotary Wing Conversion; 81 pilots for different flight operations Type Rating training for all aircraft types -EC155, AW139, Bell 412, S76 and DHC-6. Fifty-seven Aviation engineers have also been trained as follows: 16 Engineering Ab-Initio and 41 Engineering Type Rating training.” These facts were revealed during the graduation ceremony of 15 Nigerian

Engineers who have completed a type-rated course on AW139 Helicopter. According to a statement from the company “ The need to put in place a defined training program for pilots and engineers was heightened when Caverton participated and won a five (+2) year tender to provide 6 x AW139 helicopters for Shell operations in Nigeria. A seventh AW139 was added to the fleet in the fourth year. “ “To ensure full coverage of the operation and due to the

scarcity of trained indigenous personnel, Caverton embarked on an aggressive program to select, train and type-rate indigenous pilots and engineers on a year on year basis. It should be noted that the award of this contract by Shell distinguished Caverton as ‘the poster child’ for local content. Caverton is a testimony to Shell’s commitment to building incountry capacity and giving back as a responsible corporate citizen.”

Mr. Bertrand Brill, Technical Director Engineering and Deputy Managing Director Caverton Helicopters while articulating his long term plan for Caverton training programme said the aim is to “-to achieve or exceed industry target stipulated in the NCD Act of 65% locals and Shell’s target of 75% locals. To have a crop of engineers with excellent work ethics and to improve safety and professionalism within the industry.”

VISIT - Managing Director/CEO, Bank of Industry, Mr Rasheed Olaoluwa; Executive Director, Large Scale Enterprise, Alhaji Mohammed Alkali, General Manager, Large Scale Enterprise Mr Joseph Babatunde both of Bank of Industry (BOI) and Chairman\ Managing Director Innoson Industries Ltd, Mr Innocent Chukwuma during the visit of the management of BOI to Innoson Industries, Enugu.

Bristow partners Sebbecly to give succor to cancer patients By DANIEL ETEGHE

ristow Uplift, a charitable outreach programme founded by Bristow Helicopters, is set to give succor to cancer patients undergoing treatments at the Lagos University Teaching Hospital (LUTH) and the General Hospital in Lagos. Co-ordinator, Bristow Uplift, Mr. Mayowa Babatunde who disclosed this to newsmen at Murtala Muhammed Airport, Lagos said that the company was interested in assisting the patients with over N5million to access healthcare and adequate treatment in fighting cancer disease. Babatunde noted that in other countries, cancer ailment was not a death sentence as it is commonly regarded in Nigeria, stressing that it was so because majority of the sufferers could

not afford the cost of treatment of the disease in the country. According to him, Bristow Uplift was partnering with Sebbecly Cancer Care and support organization to assist cancer patients, noting that about fourteen patients were already receiving treatment in LUTH while about fifty

patients would undergo mastectomy initiative at the General Hospital in Lagos. “Breast cancer in Nigeria is still killing more people than expected and we felt that since October is breast cancer awareness month, it will be an opportunity for us to contribute our quota and

try to reduce the mortality associated with it. This forum is to formally announce the partnership, the programme is Bristow uplift and our partner for this year is Sebbecly Cancer Care and support organization to help assist patients with cancer in accessing treatment.”

Arik flies over 15m passengers in eight years

rik Air has revealed that it has carried a total of over 15 million passengers since it started operations in Oct. 30, 2006. Mr Chris Ndulue, Managing Director of the airline disclosed this to newsmen at the Murtala Muhammed Airport, Lagos at the airline’s 8th year anniversary. Ndulue said that the airline would soon begin flight operations to Abidjan, Lome, Libreville as it would also add two Bombardier Q400NG aircraft to its fleet. He added that the two new Bombardier aircraft would arrive in the next couple of days. He noted that the airline has been able to face the challenges in the aviation industry, particularly in the area of high rate charges

by various agencies in the industry. According to him, the airline has leverage with the agencies to settle all controversies on the issue of charges between it and the agencies. “We are about to overcome all the controversies we have with the various aviation agencies in the area of paying charges. Every business has it various challenges, but if you allowed the challenges to overwhelm you, then you will be a failure. “We have never being overwhelmed by the challenges in the industry. We will make sure we serve the public adequately,” he said. The Managing Director noted that the airline now operates into 19 domestic and 12 regional destinations.

Dana Air set to commence regional flights

ana Air is to c o m m e n c e regional flights to West Africa countries.This is coming just as the airline reinforcing flight operations across its route network with the acquisition of additional aircraft to boost domestic operations. According to Mr Samuel Ogbogoro, Head , Corporate Communication, Dana Air, prepares to open additional domestic routes by December and also make sure the airline is prepared to open additional domestic routes by December and also make an inroad into the West-African region by the second quarter of 2015. “Dana Air is pleased with the positive feedback it continues to receive from its guests as well as their demand for the airline to extend services to the regional routes to offer excellent customer service and also bring its unique selling point which is on-time performance. The airline understands that the services of a reliable airline is built around schedule integrity and safety which remains the fulcrum of Dana’s entire operations.”

NAHCO selected as one of top 50 brands in Nigeria

andling Company Plc (nahco aviance) has been adjudged one of the top 50 brands in Nigeria. The company was named among the best following the research conducted by the BRANDNIGERA Journal. Other companies that also made the Top 50 brand list are: MTN, Glo, GTBank, Zenith Bank, 7up and Dangote Cement. According to the journal, nahco aviance was one of the top brands which satisfied the selected criteria such as market acceptability, corporate social responsibility, customer service delivery, vision and innovation and popularity evaluation in emerging one of the best. C M Y K

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“The Debt Management Office has advised commercial banks against offering short term loans to state and local governments across the country.” Everest Amaefule, PUNCH, October 24, 2014, p 32. lthough we cannot give the specifics of what the government should do, we can at least give an indication of what should be done. They should let Nigerians know that hard times are coming. How will the government carry us along?” Mr Segun Oshinowo, D-G, Nigeria Employers Consultative Association NECA. For close to a year now, warnings have been given on this page regarding the impending economic reversal which will affect Nigeria – starting now. The reaction from my Fellow Nigerians had ranged from absolute indifference to a collective snooze. The man speaking in the wilderness, apparently to weeds, had a better audience than this columnist writing in the VANGUARD. I might as well be talking to trees myself. But, suddenly, everybody, except President Jonathan, the Federal Minister of Finance and other card-carrying members of the PDP have come to the realization that we are headed for deep economic trouble –starting now. The directive to banks, to refrain from lending on short term to states and local governments, amounts to a death sentence on those two levels of government. In fact, the Board of Directors of commercial banks need not

States, local governments in a fix have waited for the DMO before restraining their managers from granting such loans –especially to states whose governors are on their way out. The incoming governors might be forced to disclaim those loans. Most, if not all, the states of Nigeria had been existing on overdrafts granted by banks for most of the year as crude oil revenue fell consistently below projections. As at this month, several states are owing their staff one or two months salaries – even as they head to the end of October when there will certainly be another shortfall in the allocated revenue from the Federal Gover nment. Without short term loans from commercial banks, civil servants across Nigeria can only expect a bleak fourth quarter of the year. As everybody knows, with the exception of four states — Lagos, Rivers, Kano, Kaduna – all the other states of Nigeria are federal allocation revenue dependent. They are all what I classify as “Civil Service States. None can, like Lagos under Bola Tinubu, defy the Federal government and operate for two months or more without funds from Abuja. Well, Abuja funds are declining. APC Governors, irrespective of their motives, have joined in raising the alarm that trouble is brewing. Their PDP and APGA colleagues,

resulted in lower demand for obviously for political crude. Unfortunately, the reasons, have not joined the USA, once Nigeria’s largest chorus. They delude customer, no longer imports themselves. States like Ekiti, crude oil. The world’s largest Gombe, Taraba, Adamawa, economy had become a big Kwara, Ebonyi, Kebbi, Cross exporter of crude and refined River and Kogi will soon oil and its producers are not become so cash-strapped in the global market for the nobody can keep their civil short-term. They are here to servants from joining the stay and to expand and revolt against the conspiracy dominate the market. To of silence being championed dominate the market they by Jonathan and Okonjowill have to gain market Iweala. share; meaning dislodge Once again, let us existing suppliers of crude. recapitulate the reasons we Nigeria is a prime target for find ourselves in this that attack. predicament – none of which Second, it would have been will go away in a short time bad enough if we have only and some of which will get the US as a new worse over competitor. But, time. s e v e r a l First, global countries, which demand for were oil crude oil is importers, as late falling on as five years ago, account of have now joined slow GDP the league of oil growth in the Unfortunately, producers. They n a t i o n s the USA, once not only reduce w h i c h Nigeria’s largest the market constitute the customer, no potential for engines of export for good, g l o b a l longer imports they contribute e c o n o m y. crude oil, the to the glut D e s p i t e world’s largest which is r e c e n t economy had responsible for improvements, become a big the current the US exporter of crude plummeting economy is crude prices. still not as and refined oil Some of them robust as it and its producers are just starting should be. are not in the and they intend T h a t global market for to increase the ordinarily the short-term supply to the should have

global market over time. The Middle East had been in turmoil for several years and that had curtailed supply. But, nations like Iran, Iraq and Libya, which had lost out, on account of political turmoil are eager to beef up their depleted foreign reserves – even if the have to sell at deep discounts. That again will take some time. Mr Godwin Emefelue, Governor of the Central Bank of Nigeria, CBN, in an address to the Chartered Institute of Bankers, on October 18, 2014, admitted that the drop in oil prices “presents some risks to the country ”. That is understandable understatement from the person charged with the nation’s monetary policy. Nobody, in his right senses, expects the CBN Governor to raise an alarm because that will certainly trigger capital flight. The man is doing his job. However, Mr Emefelue will understand that members of the Fourth Estate of the Realm, the Media, also have a job to do. We cannot wrap in diplomatic language truth which is stark and unrelenting until it hits Nigerians like a hurricane suddenly. We have a duty to warn our people that danger looms and state as well as local governments, and their workers, will feel the impact first starting NOW.

Business & Economy Continues from page 19 not to work for anybody, and hence with these conditions, most opt to grow gradually and prefer not to even take the funding. Another factor, he said, is that, “most tech start-ups don’t even have access to their funding firms, and hence we see a lot of firms and individuals are also gradually sneaking up in Nigeria, promising to help entrepreneurs raise fund, and compelling them to sign off a major part of their equity and huge advisory and management fee in return. With little or no regulation on this type of activities and without standardisation of the funding process, a lot of entrepreneurs will back out of funding at the last minute when typical term sheets are presented to them.”

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Lack of start up capital threatens Nigeria's economic growth T

o address these challenges, he said: “Easier access to connect tech start up and venture firms should be encouraged by the government through events and conferences that try to introduce reputable firms with potential good start ups. In the US and most countries there are quarterly events in Silicon Valley where start ups are invited to pitch their ideas to a panel of tested and trusted venture firms. Such a set up in Nigeria will definitely bring the two entities together and ensure that start ups are not put either in a situation where they prefer not to take the funds in the first place. On his part, the Chief Operations Officer of SpacePointe, an online

marketplace catering to the needs of the informal sector market in Nigeria, Osato Osayande said the issue to deal with is connecting the startups with investors. Investors need access to these start-ups and the start-ups on the other

hand need training on how to present themselves in a way that is compelling to the investors. He said: “Research is key to a start-up owner. There are lots of programs available to help start-ups through their process

as well as many online startup communities where they can learn from people who have been there before them. That being said, as an entrepreneur one should not just sit and await spoon feeding." If you do all you can do to get started including making your own financial investment in your business, an investor would be more likely to invest in your start up.”

Mr Chef enters market with 10-in-1 seasoning cubes

r. Chef, one of Nigeria’s food seasoning products, has launched a 10-in-1 pack of seasoning cubes in response to customer demands. The introduction of the money-saving initiative was part of Mr. Chef ’s two instant big win incentives announced to distributors and wholesalers at a launch event held in Abuja on Monday, 6 October, 2014. The 10-in-1 pack of seasoning is the first of its kind to be introduced by any seasoning producer in Nigeria to answer customer

demand for convenience, hygiene, quality and affordability. Managing Director of Bayswater Industries Limited Mr. Piyush Nair, said the concept of 10-in-1 packs was developed from insights gained from customer interactions over time, especially in terms of hygiene, quantity and pricing. According to him, Mr. Chef ’s 10-in-1 pack of seasoning cubes combines hygiene, quality, quantity and convenience with right pricing to demonstrate that cooking could be both inexpensive and a great delight.

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Advertising

Mobile music machine as consumer engagement platform Stories by PRINCEWILL EKWUJURU

or brands to get connected to consumers, they need to toe a certain marketing line to get to their destination, particularly in trying to navigate entrant to a market riddled with competing brands. Like every new thing it has always been a challenge for brand builders introducing a new brand, particularly being saddled with the responsibilities of conceptualisation, name and relevant strategies to introduce it to the market. That was the situation eight months ago, when Nigerian Breweries entered the market with Star lite, brand extension of Star Larger. As a result of the persistent failure of many new brands at the point of entrance, not a few people discarded it as a misadventure. However, as a company that is on top of the game, NB showed from the beginning that it knew the right card to play. Having successfully

ACTIVATION - From Left: Senior Brand Manager Legend & Life, Funso Ayeni (left), winner of Legend Taste, Tell and Win fridge, Joshua Egbeton, Marketing Manager Legend, Gulder and Life, Nigerian Breweries Plc Emmanuel Agu at the Legend Taste, Tell & Win activation at Concourse Bar, CMD Shangisha, Magodo, Lagos. established Star Larger as the no 1 beer brand in the market, the company massively followed the existing template and introduced fresh techniques to create aura around its new offering. Today, the brand has, within few months, moved from the infant

stage into mature age. Among other things that have worked for the brand, the introduction of Africa’s first mobile music machine, used to support it still stands as a major reason for its success. In the beginning… The launch of the new

Prospecting consumers heart before yuletide

any organizations, especially producers of Fast Moving Consumer Goods, FMCGs over the years had deployed robust sales promotion tactics aimed at capturing a large chunk of their market. By so doing, they employed the idea of periodically giving out freebies to prospects and customers alike. are some of the freebies that vividly comes to mind in this regard. The Notable initiatives in this regard have seen lucky Nigerians smile home with millions of naira, exotic cars, and other gifts items from concerned companies. Sectors that ran the show in the 1990s include the soft drinks giants, the beverage producers and the breweries. However, the entry of mobile telecommunications companies into the fray changed the game, as they periodically struggle to outwit one another by impressing their subscribers, and potential customers with freebies and other interesting offers. Buy-One-Get-One-Free, BOGOF, free SMSs and free calls, high level competition among the telecommunication companies have therefore re-enforced serious competition on their part. The word, ‘stingy’ is generally used to describe one who is unwilling to share, give, or spend possessions or money. Therefore, describing a brand as stingy could have far reaching implications. MTN, the telecommunications brand with the largest number of subscribers fall into the category of brands perceived by many, as not doing enough in the area of dishing

out freebies and other goodies to its subscribers. Being the most maligned in this regard, one is therefore not surprised that the telecommunications company seem to be in the fore-front of pioneering a season of surprises in which it intends to delight its subscribers. Proponents of profitability will however negate this believe by many as they analyse critically, the essence of these promos and what it contributes to the bottom line of the concerned organisations. Tapping from the basic objectives of businesses which includes liquidity, profitability and Corporate Social Responsibility (CSR) in that order, many organisations strive to achieve a perfect blend of the trio. In the profitability versus promos question, many failed to realize the underlying differences that influence decision making in this regard. Though not the first telecommunications outfit to launch its network in Nigeria, the much maligned MTN had its network spread across the country like wild fire, reaching the remotest parts of the country within few years of launching its network in the country. The company is largely responsible for the penetration of mobile telephony in Nigeria, and by extension, most parts of SubSaharan Africa. Around the time MTN channelled massive investments into network expansion, its peers in the telecommunications industry were probably busy dishing out freebies to their few subscribers, I suppose!.

product attracted varying comments from market watchers. While a section of the market hailed the decision as a genuine strategy to enter a new segment for more growth and higher margins, another set of analysts dismissed it as a misadventure. Most of those who shared the last view thought it would be difficult for the two brands to grow along each other. But to the handlers of the brand, who disclosed that the company engaged in extensive research before unveiling the product, the decision was a genuine response to the yearnings of Nigerian consumers. Speaking at the launch event, Marketing Director, NB, Walter Drenth, said the introduction of the new entrant had reaffirmed the commitment of the company to innovation. “Star continues to set the trend in innovation. This is just the beginning. There’s so much more in store for 2014 and we will be announcing them in the most unpredictable ways,” he said. The new beer brand, he said, is a line extension of Star lager and brewed with 100 percent natural ingredients; the finest malted barley, high quality hops, and best quality water; as such, has fewer calories compared with other standard lager beers.

Legend fetes consumers

he ‘Legend Taste, Tell and Win’ activation, a follow up to the re-launched Legend Extra Stout promo earlier in March 2014, has reciprocated its consumers loyalty with rewards. Consumers in Magodo and Amuwo Odofin areas of Lagos were rewarded with refrigerators and cartons of the drink. As a follow up to the relaunch of Legend Extra Stout earlier in March this year, the activation aims to reinforce in the consumers the unique great Legend taste, as well as to educate them on the key attributes of Legend Extra Stout Agu said: “You will recall that earlier in the year, we presented Legend Extra Stout to our consumers in a new premium packaging with stanoil foil and metalized labels, in line with the brand’s tradition of continuous innovation. These in-bar activations are aimed at both reinforcing the fact that, despite the repackaging, their Legend Extra Stout still retains that unique bitter taste.

Cussons baby offers new variants to mothers

ussons Baby, a brand under the stable of PZ Cussons has introduced a new variant to its list of baby care portfolio range . The new introduction, according to the statement issued by the management of the company in Lagos, which comes in three varieties that include powder, lotion and soap was borne out of the need to respond to the yearnings of consumers with the goal of attending to key concern areas of protection and care for children. Speaking at the unveiling of the variant, The Marketing Manager, Mildred Bagshaw said the new addition has been specifically designed to cater for the African skin and its tropical climate through the use of unique ingredient in its formulations to ensure the right balance of actives and skin feel. She added that the variants were developed to assuage key concern areas of protection and care for mothers and care givers. She said” The new variant is specifically designed to cater to the African skin and its tropical climate through the use of unique ingredients in its formulations to ensure the right balance of actives and skin feel.”

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40— Vanguard, MONDAY, NOVEMBER 3 , 2014 Email:lesleba@lesleba.com, lesleba@gmail.com Blog page:www.lesleba.com/blog2 Website: www.lesleba.com Tel:0805 220 1997

nspite of the assurances of Okonjo-Iweala, the Finance and Coordinating Minister of the Economy that Nigeria is not broke, there are concerns that falling crude oil prices may in fact belie the Minister ’s apparent confidence. Indeed, crude oil which accounts for over 50% of Federal revenue has dipped below $90/barrel after remaining stable between $100110/barrel for over two years. Although, the current market price still exceeds the 2014 budget benchmark of $77.5/ barrel, observers have noted that reduced international demand and regular production shortfalls below budget benchmark of 2.45m barrels/day, as well as alarming massive oil theft and rampant pipeline vandalisation may make revenue projections unattainable. Certainly, published statistics on oil output and revenue will continue to be controversial as audited authentic figures on production and related sale prices are not readily available public information; indeed, some observers wonder why revenue projections should be a concern, when crude prices exceeded budget projections by up to 30% for over two years; furthermore, Diezani Madueke, the Petroleum Minister had also suggested according to media reports that production exceeded budget benchmark and OPEC quotas for some time. Nonetheless, we will have to accept Okonjo Iweala’s assessment, that if the Excess Crude revenue Account which dropped to $4.0bn can be increased to $5bn, Nigeria’s economy would retain its current stability (Guardian Newspaper, 28/10/2014, Pg. 3). This assertion, of course assumes that the current state of Nigeria’s economy is satisfactory; however, even a blinkered apologist of government performance will admit that our economy cannot be described as successful,

Inequity in government’s revenue drive when government gleefully borrows back its own free funds with double digit interest rates and over 70% of our population live on less than $2 a day, with unemployment at almost 30%, and over 50% of our youths aimlessly idle, while, inflation annually eats up over 8% of the purchasing power of all income earners, particularly the wages of the majority who earn less than the minimum wage of N18,000/month introduced four years ago. However, if according to Madam Minister, $1bn is all the additional revenue needed to keep the economy afloat, then we really should lose no sleep because of dwindling revenue from crude oil, since our own well endowed chattel, the Central Bank of Nigeria still sits comfortably on close to $40bn, which is inexplicably designated as CBN’s own dollar reserves. Surely, a two percent reduction in CBN reserves should not jeopardise the stability or the strength of the Apex Bank. Nevertheless, OkonjoIweala has suggested that inspite of c u r r e n t revenue contraction, public finance can still be astutely managed to ensure that the balance in the Federal government’s unilaterally designated Excess Crude Account, w h i c h incidentally S t a t e Governors

have rejected as unconstitutional, can still be augmented. Obviously, any such augmentation will inevitably come from deferred or reduced expenditures from some other sectoral budgets. However, since this administration has apparently found it inconvenient to reduce the clearly bloated expenditure budget, the usually relatively paltry votes for capital and infrastructural enhancement may regrettably suffer further decline, with adverse consequences for improved social welfare for the masses. Nevertheless, in an attempt to shore up its non oil revenue, the Federal government, according to a report in the Punch edition of 30/10/2014, Pg. 38, indicated that it “had raised the revenue targets of the Nigerian Customs Services and the Federal Inland Revenue Service.” In its reaction to this development, the Lagos

Why must government penalize those who lay the golden eggs while feather bedding the interest of plain rent seekers and criminals in the economy?

Chamber of Commerce and Industry however warned that “there is a risk that best practice principles will b e compromised b y government’s r e v e n u e generating Agencies in t h e i r desperation to meet set targets.” The L C C I President, Alhaji Remi Bello, noted that “there were already negative

manifestations in the mode of Import Valuation by the Customs Service.” Importers, according to Bello “have been made to pay import duty and other charges that are far beyond what they ordinarily should have paid; many investors have consequently suffered untold hardship as a result of this practice.” Similarly, officials of the FIRS seem to have also been given a carte blanche opportunity to intimidate and extort payments from companies in the name of revenue drive ordered by ‘Oga at the top’. Regrettably, those companies, which have been victims, unfortunately have no sincere, transparent, effective or timely dispute resolution system in place. Consequently, the LCCI Chairman called on government’s revenue collection Agencies “to concentrate more on the efficiency of collection and the expansion of tax coverage rather than inflicting hardship on businesses that were already in compliance.” Ironically, in contrast to its directive on aggressive revenue drive, the Federal government, according to Oscar Onyeama, CEO of the Nigerian Stock Exchange, has waived the payment of Value Added Tax on all capital market transactions, since the last two years; Onyeama confirmed that VAT exemption is now effective on all Commissions applicable to capital market transactions. According to the NSE CEO, “the elimination of VAT on stock market transaction fees will ultimately reduce the cost of transactions for investors and will encourage investments in the Nigerian capital market.” Onyeama further urged government to also implement the stamp duty waiver which was earlier announced along with VAT exemption in 2012. Curiously, VAT exemption on

commissions and stamp duty waivers are in addition to a debt forgiveness of about N22.6bn by AMCON to stock brokers who contravened the provision of the Investment and Securities Act by their flagrant involvement in margin trading; a case of waivers for the rich and hard labour for the poor, one might say. In the light of the above, we should be concerned that any responsible administration will subject its wealth creating real sector to a harrowing experience of harassment by government’s revenue generating agencies, while actively excluding commission income from a “casino market” such as the stock market from any form of taxation. The question is, what percentage of Nigerians directly profit from commissions on Stock Exchange transactions compared with the majority whose livelihood would be directly positively impacted by the activities of productive and social welfare supportive subsectors which are under the aegis of the LCCI and Manufacturers Association of Nigeria respectively? Why must government penalize those who lay the golden eggs while featherbedding the interest of plain rent seekers and criminals in the economy? Besides, we should similarly be concerned that despite alleged dwindling crude oil revenue, government obviously has no answer that would redeem the wasteful expenditure of over N1500bn (about $7.5bn) for subsidising fuel annually. Worse still, there is no hope that government appears capable of plugging the gaping holes of massive theft of crude oil in order to shore up our dwindling revenue base.

Save the Naira, Save Nigeria.

Business & Economy

Women, youths tasked on N220bn SME fund By CALEB AYANSINA

IFE of former Governor of Kogi State and United Nations (UN) Ambassador for the Promotion of Peace, Education and Poverty Reduction, Amb. Aisha Audu-Emeje, has urged women and youth to grab the opportunity, provided by the N220b Small and Medium Enterprise (SMEs) fund, to improve their businesses. The fund, launched by the Federal Government through

the Central Bank of Nigeria (CBN), was targeted at reducing poverty in the country. She maintained that having access to fund was not the problem in some cases, but packaging, calling on them to immediately form cooperatives to enable them access the fund, to enlarge their businesses. Audu-Emeje, who gave the advice after she was conferred with the Companionship Award by the Institute of Global Facilities Management, in

Abuja, disclosed that she had mobilised over 10,000 women farmers in Kogi State for the purpose of getting them into cooperatives, to access the fund. “This fund has been hanging in the CBN since the late Yar’ Adua’s administration and the president has been able to push it out, we are now at a stage where advocacy is being done, so that those that are supposed to access this fund can prepare themselves and know how to access it.

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

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By Eric Teniola

The imperial presidency

F all the sub-committees of Ambassador to South Afica, the Constitution Drafting Professor G.A. Odenigwe of the Committee of 1975, none was more University of Nigeria Nsukka, Alhaji important than the subcommittee of Femi Okunnu,former Minister of Works, Dr.Kole Abayomi, Senior the executive and the legislature. The sub-committee was saddled Lecturer at Nigeria Law School in with working out the modalities for Lagos, Dr. I.D. Ahmed, a councillor the operation of the presidential by then in the Kano Local system of government which was a Government Authority, Mr. Sam novelty at that time considering the Ikoku,who was then of the University fact that we have never operated the of Lagos and former Secretary of the presidential system of government defunct Action Group, who later became the Secretary of the Peoples before. The subcommittee was headed by Redemption Party of the late Aminu Alhaji Abdu Ganiyu Kano. The other two members were FolorunshoRazak (87), the Mutawali of Ilorin and the Tafida of AlhajiSule Gaya, a former Minister Zaria, who was born in Onitsha in in Northern Nigeria and Dr. U.O. the present day Anambra State and Eleazu, a lecturer in Political Science served as the Nigerian Ambassador in Institute of Management and to the Ivory Coast(Cote D'Ivoire) Technology, now Co-ordinator and Director, Nigeria Policy between 1962-1964. He is Development Centre the first lawyer from (Think Tank). Northern Nigeria. The subcommittee Alhaji Razak was a recommended, among delegate to the 1960 other things, that the Constitutional future President of Conference in London, a Nigeria “must perform member of the Leaders of and be seen as Thought from Northern performing the following Nigeria for the 1967 functions: that of being a constitutional conference, symbol of national unity, Minister for Railways honour and prestige; between 1965 and 1966 being a national figureand a man of distinct Reading a political figure in his letters. He declined to be own right; and that of a High Court Judge when the 1999 his name was gazetted for Constitution, being an able executivesomeone who can give the appointment. Long leadership and a sense of before Dr. Abubakar one is direction to the country”. Olushola Saraki, the late The subcommittee Waziri of Ilorin, Alhaji astounded declared: “We were very Razak was the “grand by the much influenced by the commander” of politics in debate on national Ilorin. Very urbane and extensive objectives and public highly civilised. I met him accountability and the for the first time in 1975. powers of need to avoid Other members of the the concentration of power subcommittee were Dr. in the hands of a few, or a Kingsley Ozumba Nigerian sectional group; the need Mbadiwe,former to replace ethnic with Minister in the First President; national politics, etc. In Republic and my very he almost short, it is the intention of good friend, Alhaji Shehu the sub-committee that Malami, former owns the anybody who wants to be Chairman of Union Bank a President must strive to and later Nigerian country

become a national figure, and the method of his election is meant to provide him with a means of nationalising himself as well as test his standing as a national figure”. The subcommittee declared further: “What has been uppermost in our minds is how to provide for an effective leadership that expresses our aspirations for national unity without at the same time building up a Leviathan whose power may be difficult to curb”. Call it rotational principle, call it zoning or call it Federal Character, it was Abdu Razak’s committee that first proposed this idea as far back as 1975. The subcommittee insisted that rotational principle must be embodied in the constitution. “Here again the question that bordered the sub –committee was how the kind of national figure which we envisaged could emerge. We were very much influenced by the debate on national objectives and public accountability and the need to avoid concentration of power in the hands of a few, or a sectional group; the need to replace ethnic with national politics, etc. In short, it is the intention of the subcommittee that anybody who wants to be a President must strive to become a national figure, and the method of his election is meant to provide him with a means of “nationalising” himself as well as test standing as a national figure. The sub-committee went further to group Nigeria into four zones. That was in 1975 when we had 19 states. According to Razak’s committee of 1975, zone 1 shall consist of Sokoto, Niger, Kwara,and Kaduna states; zone 2 will comprise Kano, Plateau, Benue, Borno, Bauchi and Gongola states; zone 3- Lagos, Ogun, Oyo,Ondo and Bendel states, and lastly zone 4 which were Anambra, Imo, Rivers and Cross Rivers states. The recommendation of the subcommittee was that there shall be rotation of the Presidency and each of the four zones should have the Presidency once in a while.

In defending rotational Presidency,AlhajiRazak’s subcommittee submitted that: “By and large, we have been very much influenced by the experience of political leadership in this countryboth civilian and military; the need to de-commercialise politics (or to undecorated politics as one member put it); the need to balance the stakes politics so that each section of this country will come to feel a sense of belonging to a great nation; the need to develop an approach of consensus to politics and finally the need to accentuate our national inclination towards a bargaining approach to decision-making rather than regarding politics as a game of the winner-takes-all”. Incidentally most of the Abdu Razak’s committee’s reports were accepted by the Constitution Drafting Committee later. On November 1, 1977 the Chairman of the Constitution Drafting Committee, Chief Rotimi Williams, presented a bill to the Constituent Assembly for a new constitution. He said: “ Safeguards Against Abuse of Power, all of us in the Constitution Drafting Committee, without exception, were eager to ensure that the sovereignty of the people is not merely manifested in the choice of the persons entrusted or to be entrusted with power. We were also concerned to ensure that no functionary of the state shall be in a position to instal himself as a dictator over the rest of the country. Hence, provisions were made in the Draft Constitution to prevent the over-concentration of power in any one hand or in the hands of a few and to ensure that there are adequate checks and balances to avoid the abuse of power”. In my later discussion with a member of the Constitution Drafting Committee, Chief Rasheed Gbadamosi, the Otun of Ikorodu, he said: ”Concentration of power in the hands of just one man could disintegrate the country. All that we did between '75 and '76 was to ensure that the government truly belongs to

the people. And truly we have no apology for that”. He was a member of the sub-committee on the Economy, Finance and Division of Powers. He wrote most of the reports of that sub-committee. If you take a look at the 1979 and especially the 1999 constitutions one could see the imperial powers of the President of Nigeria. Having read and re-read the report of Abdu Razak’s committee, I am still not sure that it is what the committee recommended that is in practice today, with the imperial, dominant and regal powers of the President crowned by the constitution and a cash sharing National Assembly that has made itself impotent in an era where sycophancy, hero worshipping and boot licking is the only industry around. Reading the 1999 Constitution, one is puzzled and astounded by the extensive wide powers of the Nigerian President. In short he almost owns the country. In a land where majority are very poor one can’t have all these wide powers certainly without inviting envy, jealousy, outright grudge if not hatred. Our biggest dilemma is how to cope with the authoritarian and absolute powers of the President as decreed by the Constitution. It is these powers that have made the race for the Presidency absolutely desperate. Just imagine the despondency of the incumbent to retain his Presidency at all costs as if there is no more life outside government having been in power for over 15 years and the desperation of his political adversaries to dislodge him by all means. We shall see in the coming weeks the ugly effects of the despair and hopelessness. If we have reduced the power of the presidency and made that post less attractive, may be and just may be the forlornness will be avoided. A Presidential election is not supposed to be a do or die affair. In some countries the Presidential election is a celebration period. That is the way it is supposed to be. •Mr. Teniola, a former director at the Presidency, wrote from Lagos.

Uduaghan, politics and journalism By Norbert Chiazor

OVERNOR Emmanuel Uduaghan of Delta State has certain ordinariness about him. He carries himself with simple gait and ordered steps.He lacks the arrogant superiority that goes with powerful men of politics in Nigeria .His arrival to an expectant crowd scarcely evokes awe. An encounter even with a casual bystander easily reveals a man patterned to commonplace modesty. He does not look like a governor. In Nigeria,governors are gods.They walk like giants.They rule like Roman emperors.They command fear.They endure no opposition. They have no business with humility, only haughty imperial manners.In power politics in Nigeria ,it is a taboo to bow so low, as such posture is seen as condescending, particularly if you wear gubernatorial vestment. Some more daring ones dominate their states as conquered territories and small worlds exclusive to their whims. Like the superhuman Zeus in Greek mythology, accustomed to playing chess with his mortal vassals, quite a number of the governors bestride their areas of influence with prideful authority, leading the people at the mercy of absolute power, with all the grave consequences. C M Y K

This is where Governor Uduaghan's breeding. comportment comes into play.As the Generally by pedigree,Uduaghan has governor of one of the most important good reason to show off like a peacock .But states in Nigeria , often called the economic he lives quietly like a dove.Before his jewel of the nation for its strategic location eventful adventure into the political in the heart of oil- rich Niger space, he was a successful medical Delta, Dr Uduaghan could doctor .The medical profession is have strutted his stuff like not for average people.He is the great Atlas who had the endowed with a sound mind. whole world on his If Uduaghan had recorded shoulders.But he chose to salutary accomplishments in the remain unassuming . saddle ,he has also proved himself In terms of governance ,he He has Nigeria's most media friendly has so far led Delta with the governor.That he had in recent best of his ability worthy of maintained a times emerged as VANGUARD congratulation.Governor MAN OF THE YEAR,SUN Uduaghan has built one of striking NEWSPAPER MAN OF THE the finest airports in sub- friendship with Y E A R , L E A D E R S H I P Saharan Africa,changing NEWSPAPER GOVERNOR OF forever the face of the media, THE YEAR as well as Irish based Asaba,Nigeria' s first colonial METRO EIREAN NEWSPAPER capital under the British Royal exemplified by DISTINGUISHED PERSONALITY Niger company.His social stoic tolerance, underscore his national and welfare policies, Delta micro international appeal among the credit programme, DMCP, tireless mainstream media.As he braces free maternal /children health up to finish strong ,it is hoped that care scheme and scholarship goodwill and he will pay more attention to the to gifted Deltans, will outlive humane transformation of the state media him as noble acts of a organs like DBS and POINTER compassionate leader fatherly Newspapers . enthused with public good. Even with the widespread disposition Uduaghan like every mortal media accolades and long list of has his frailties ,but not a few other honours, the press never will submit that he is a man of ceases to criticize him in the most modest ego and good trenchant of scrutiny. He stands

as one of the most vilified governors in Nigeria. In a complex state where ethnicity and hatred thrive with reckless abandon,Uduaghan had remained free spirited, continually embracing his dangerous traducers and bitter foes. A sage once warned that you do not empower your enemies.He loves to be at peace with his supposed enemies to the bewilderment of persecutors and even sycophants. A man of pleasant temperament and calm countenance, not once had Uduaghan taken sustained press criticism to heart, no matter how acidic, mischievous or malicious.He has maintained a striking friendship with the media, exemplified by stoic tolerance, tireless goodwill and humane fatherly disposition. As a policy, he never ever coerced or cornered the leadership of the press to burnish his image.No journalist had been harassed,maimed or killed under his watch.This is the experience of NUJ / Journalists in Delta State under the administration of governor Uduaghan .He understands the media and the psychology of journalists . One can safely say beyond adulation that he is one of the best journalists Nigeria never had. As he marks his valedictory birthday as governor, somehow we will deeply miss the man who has doctored our sensibilities in diverse ways. *Mr. Chiazor is chairman, Nigeria Union of Journalists, Delta State.

Vanguard, MONDAY, NOVEMBER 3, 2014—47

Section 68: TENURE OF SEATS OF MEMBERS (1) A Member of the Senate or of the House of Representatives shall vacate his seat in the House of which he is a member if: (g) being a person whose election to the House was sponsored by a political party, he becomes a member of another political party before the expiration of the period for which that House was elected; Provided that his membership of the latter political party is not as a result of a division in the political party of which he was previously a member or of a merger of two or more political parties or factions by one of which he was previously sponsored.-- Constitution of the Federal Republic of Nigeria, 1999.

Tambuwal: Kudos to Police

have suggested - and I agree - that Tambuwal is more of a presidential than governorship material. Honestly, if Tambuwal is presented by the APC as its presidential candidate, it will tickle the fanPEAKER of the House of cy of many, provided he does not pick a Representatives, Aminu Waziri Muslim running mate. Tambuwal, carries both the good and bad At least, he is not one of those narrowfaces of Nigerian politics all in one man. minded, born-to-rule, Arewa bigots The good side is that he is an excellent seeking to grab power back by all means, manager of people. I agree with those including killing their own people. Tamwho say he is arguably the most success- buwal may, some day, become the presful Speaker of the House in our history. ident of Nigeria. Tambuwal’s tenure at the However, when it comes to House of Representatives the politics that this dashing has been exemplary. Once he Sokoto-born leader has mounts the exalted seat as a pushed in the past 41 presiding officer in the months, I have very few Green Chamber of the Nawords of praise for him. He tional Assembly, Tambuwal has demonstrated crass oprises above petty politics. He portunism and bad partystrives assiduously to strike manship. Of late, he has the delicate balances to carjoined the long queue of ry his colleagues along, in Tambuwal lawmakers seeking to rape spite of the frequent rises and falls of the political temand all mem- the Constitution of the Federal Republic of Nigeria for perature of the nation, espebers of the their personal political gratcially since the phenomenon ification. called the All Progressives Senate and Tambuwal was elected on Congress, APC, started takHouse of the platform of the PDP in ing shape roughly 18 months 2011. His party had, rightly Reps who ago. wrongly, zoned the seat Tambuwal’s predilections crossed from or of Speaker to the South West. towards the APC have been one party to Tambuwal refused to abide obvious, but he has never that decision. He became fallen for the temptation of the other in by a pawn in the hands of the trying to push through some the past one leader of the defunct Action of the rabid APC political Congress of Nigeria, ACN, agenda aimed at making year must Alhaji Bola Tinubu, one of governance difficult for the vacate their the principal leaders of toPeoples Democratic Party, day’s APC. Tinubu blocked PDP, Federal Government. It seats pendthe zoning of the plum powas due to his competent ing court sition to his home zone and management of the affairs of supported Tambuwal and the House of Reps that many verdicts

By John Ainofenokhai

HE main opposition party in Nigeria, All Progressives Congress, APC, may, in fact, be changing name very soon T again. Of course the party has had a history of name-changing

– from Action Congress, AC, to Action Congress of Nigeria, ACN and to the present All Progressives Congress. Lest we forget, it started out originally as Alliance for Democracy before Bola Ahmed Tinubu and his group broke away with the soul of the party to form Action Congress. All these changes were all in search of true identity for the opposition party. And the identity, which the leadership of the APC is working very hard to sell to Nigerians albeit without much success, is that the party is a “progressive” party built on solid “integrity”. With the shocking revelations now coming out of Ekiti State about the former APC governor, Kayode Fayemi(roundly rejected by the people of his state at the polls in his bid for second term), APC may now be aptly referred to as the All Profligate Congress. The only difference this time is that the party still retains its APC acronym. According to the newly sworn-in governor, Ayodele Fayose, the APC government of Fayemi was at its profligate best during its four years reign in Ekiti. Dr. Fayemi was alleged to have spent N50 million on the two beds, which he and his wife slept. “How can a responsible government use borrowed funds to provide this kind of luxury for the governor and his family alone in a state where a lot of people cannot afford to feed more than once in a day?” Fayose had queried through a statement released by his aide, Olayinka Oyebode. The news of corruption, misapplication of funds and the insensitivity of the APC government of Fayemi in Ekiti is

his Deputy, Emeka Ihedioha, to upset PDP’s zoning applecart. To be honest, Tambuwal’s emergence went down well with his colleagues, including those from his party. The PDP and the Presidency realised it was no good raising Cain, and allowed sleeping dogs to lie. That is the difference between President Goodluck Jonathan and President Olusegun Obasanjo. Had it happened under Obasanjo’s watch, Tambuwal might not have lasted more than a few weeks in office, even if it meant demolishing his official residence or wherever the Mace is hidden, to get him removed. But then, Tambuwal became a sore on the nose of PDP. During the day, he would perch majestically on the exalted chair he grabbed by virtue of his membership of the party, but at night he would sneak into conclaves of those seeking to destroy the party and flush it out of power. Many people chose not to see what was wrong in what Tambuwal was doing because he was doing it to the PDP; and for the opposition. Once you are playing for the opposition, morality can go to hell. Party discipline is non-sequitur. I don’t believe in such double standards of judgement. Anything that is wrong is wrong, whether it is being perpetrated by the ruling party or the opposition. It is, in fact, more dangerous if it is being perpetrated by the opposition because it means there is no hope. Society is trapped between the devil and the deep blue sea. The opposition must show a ray of hope, rather than merely demonstrating its capacity to outdo the ruling party in political malfeasance. By far the most grievous offence of Tam-

OPINION The unraveling of APC in Ekiti rather an unfortunate one. Fayemi came to power from a rich civil society background and was highly respected as one of the few governors who should know what governance means. And every time he spoke as the governor, he always stressed the need for putting the people first in governance and rightly or wrongly, his party, the APC celebrated him as one of their leading star performers. But as it is said, the breeze has blown and everybody can now see the undergarments of the priest. It is cheap to dismiss Fayose as playing to the gallery just as the former governor has done through his own aide. The argument that Fayemi is not going away with the Government House does not in any way justify any ostentatious life style at the expense of the tax payers. As a matter of fact, there is nothing wrong if Fayemi, his wife and children decide to spend a billion Naira on their beds or live like Abu Dhabi princes as long as the money is coming from their private pockets. But to luxuriate at the expense of the suffering masses whose salaries and pension the former governor struggled to pay as and when due, is not only wicked but equally criminal. What is coming out now from Ekiti is only possible because a new government has taken over. And this is one of the advantages that periodic election, an attribute of liberal democracy, confers on the people. The APC intellectuals who, in their bid to wish away the popular rejection of Fayemi by the Ekiti electorate, regarded the result of the election as a “mystery” can now understand what happened. The elitist regime of Fayemi more than alienated the people, the sovereign

buwal was his recent decamping to the APC while striving to keep his position as a member of the House and its Speaker, in barefaced contravention of Section 68(g) of the Constitution of the Federal Republic of Nigeria, 1999 quoted above. In order to ensure the success of this odious scheme, Tambuwal adjourned our House of Reps for FIVE long weeks to enable him see if he could grab the governorship or presidential ticket of the APC. If he failed, he would come back. Even if PDP wanted him removed they would not be able to summon the twothirds majority. Unfortunately, many Nigerians are not looking at the number of legislative mandays Tambuwal has sacrificed on the altar of his selfish ambition. They are not looking at the 2015 budget, which could be passed within this period. They are not seeing that Tambuwal has crippled the legislative arm of government and put his personal ambition above national interest. All they are seeing is the rightful step taken by the Nigeria Police to get him to obey the Constitution as quoted above, having moved to another political party. For those who are faulting the police action, I have questions. Whose duty is it to implement the laws of the land? Is not the Police and other law-enforcement agencies? When did the Police need to obtain a court verdict before doing their job? Is not for the persons involved to go to court and seek redress if they feel the Police have done their job unconstitutionally? In the absence of any other person to get Tambuwal to obey the Constitution, who else, if not the Police, should enforce the law? In Edo State, four members of the House moved from APC to PDP. The Speaker of the House of Assembly simply did the right thing by declaring their seats vacant, while they went to court to seek redress. That is the correct and democratic order of things in a society under the rule of law. Tambuwal and all members of the Senate and House of Reps who crossed from one party to the other in the past one year must vacate their seats pending court verdicts. Failure to do so amounts to a rape of the constitution. The Police must protect the constitution from these political rapists.

owners of power. With the public outcry that has greeted the revelations of the wasteful use of public resources to service the ostentatious fantasies of the former governor and his family, it is all too clear that the people of the state were never consulted on the building and furnishing of the new government house. It is rather sad that a governor who publicly claims that he cannot condescend to the level of what is now the popular definition of stomach infrastructure is spending multi-million naira on “bed infrastructure”. What is said to have happened in Ekiti under the APC government of Fayemi betrays the hypocrisy of the party and its catechetical verbosity on fighting corruption. This is the same party that its leaders, including Bola Tinubu, Lai Mohammed, Nasir el-Rufai, General Muhammadu Buhari and Atiku Abubakar daily accuse the PDP government of Goodluck Jonathan of condoning corruption. If the scandal of “bed infrastructure” under the APC government of Fayemi had happened in any PDP state government or at the centre, Lai Mohammed would have been parroting it everywhere how the ruling party is plundering the country. Why has Lai lost his voice? Surely, he must have something to say about the APC plundering of Ekiti State! Ekiti State is not by any means one of the richest states in the country. And if this magnitude of corruption has already been discovered in the first week of Fayose’s ascension to power, it leaves to imagination what could be going on in the richer states controlled by APC. *Mr. Ainofenokhai, a public affairs analyst,wrote from Benin, Edo Sate.

48—Vanguard, MONDAY, NOVEMVBER 3, 2014

SENATOR Adolphus Wabara, a two term senator was elected president of the Senate in June 2003 but stepped down on April 5, 2005 to clear his name over his alleged involvement in the N55 million bribe for budget scandal. In this interview, the former Senate President asserts that his indictment on public television by President Olusegun Obasanjo was the consequence of his failure to support the alleged third term script of the administration. He also frontally demands the resignation of Speaker Aminu Tambuwal as presiding officer of the House of Representatives saying the minority cannot lead the majority just as he endorses President Goodluck Jonathan for another term. Excerpts:

By Emmanuel Aziken, Political Editor

Nigerians this time around. They should build on what they OME have flayed the have done so far and not lose adoption of President their sleep on the opposition. In Jonathan as the PDP’s sole fact, we have other parties now presidential candidate for the joining the PDP. These are 2015 election as undemocratic. parties that ordinarily would Do you agree? have joined hands with APC, but The PDP is the greatest party they are coming into PDP. That in the African continent. I don’t means there is something we are see anything wrong in adopting doing right. It’s a phase and it a candidate. It was only will take some time before we mentioned that he’s being will get there. adopted as a sole candidate. But With the level of performance every other person democratically we have seen, would you say has the right to contest. It is not this government has really sacrosanct; just that at that performed these four years? moment in time, because of the There is absolutely no doubt good job the President has been about that. I am 66 years old and doing, it was necessary to say I think I have seen so many please continue, we endorse you birthdays and so many years; I’ve as the sole candidate. But that seen so many governments in does not say no other person can Nigeria. When he presented a pick a form. book, his scorecard on May 29, How do you see his chances he gave facts and you can see given the the record of his number of performance. Just formidable go and read that aspirants in the book. Nobody puts APC? pen on paper if he The PDP will win. or she is not sure of Jonathan will win. what he is writing. We are just praying If you read that and begging that he book, you will now accepts the olive see what Jonathan branch of him and his coming to pick up government have the ticket. He will done for this win because I know country. You cannot the opposition. I’m say he has done not a prophet, but I everything, but at can assure you that Even if I was least you will see as soon as a the trend where we candidate emerges going to be are going, where from the opposition, imprisoned by he started from and the opposition will what we have collapse from that Obasanjo achieved now. You particular moment. because I almost find a PhD Are you saying in his governance. that the PDP should refused his Scientists don’t not lose sleep over third term bid, make too much the opposition? noise. I would have The PDP should Given the not lose sleep; the served the development in the PDP should continue term and I House of to prepare their Representatives, agenda, their would have what is your manifesto and what been out by response to the they want to do for spate of defections Nigeria and now by lawmakers?

•Wabara: Tambuwal is a good fighter, but should step down

Defection: Why Tambuwal should step down— Wabara •Bribe for budget scam: Jail me or free me, he says •Money bags cannot buy Abia governorship Frankly, it is unfortunate. It is really unfortunate that we did not nip this in the bud early enough and we need the judiciary to help the National Assembly out of this problem.

Vantage position But be that as it may, it was because we the PDP did not nip this issue in the bud. We were at vantage position at the start of this defections in the National Assembly. So, we did not invoke the law. But it’s like when a dog bites a human being, it’s no story. But when a human being bites a dog, it becomes a story. Of course, some people would say that it looks as if people are now leaving the PDP, that’s why we are now opening the pages of the law to stop them. It pains me again due

to the fact that all these movements are done on personal interest basis and it’s not national interest or the interest of the people you are representing, which makes it very absurd. But I know that with time, this cross carpeting will be a thing of the past. Do you think he should resign his position? With the speaker of the House of Representatives now defecting to the opposition, to me, I think he should resign his Speakership because, clearly, according to our rules and our laws, it is the party with the majority membership of the House that runs chambers. If he now sits down and finds that his APC is in the minority, he should just resign. Since what he wants is to be the governor of Sokoto State, then he goes there to face that. Immediately, the

PDP will elect another Speaker. He should not overheat the polity. He is a gentleman that is loved by many. I also love him, no matter that he has left my party. He is a good fighter, but he should not mess up his good name by clinging to power unnecessarily. Otherwise, if he gets impeached, he will probably not even make the governorship anymore because it will tarnish his image. If he allows himself to be impeached, then he cannot even run for the governorship of Sokoto State. So, he should just resign and wish Nigerians well. What is the latest on the alleged bribe for budget scandal given that you stepped down as Senate President in 2005 to clear your name on the issue. Not much has been heard about the case again? Continues on page 49

Vanguard, MONDAY, NOVEMBER 3, 2014—49

I will give this to him; without him, I wouldn’t have been Senate President. He really did all that was necessary to ensure that I emerged as Senate President. I will give it to Obasanjo and I

Obasanjo indicted me because of third term government of Nigeria and the judiciary that they should take up this matter as quickly as possible. This is 10 years of my life gone for nothing. I thank God that I’m living in good health but I don’t want to die. That stigma cannot be on my neck because I did not commit any offence. I repeat, I did not commit any offence. You talked about naivety. Why did you say you are naive? The issue of naivety is that I have not behaved like a Nigerian. If I were to have behaved like that, this case would have been over. I also would not have resigned my position. I was once number three citizen of this country. So, I know what obtains in governance. But I have been naïve and I didn’t go to anybody. In fact, they will even think that I’m arrogant – some will even say why has this man not even come to see us or to come to appeal for assistance. I didn’t go to anybody. Even the judgment that came in my defence at the appeal Court, I never knew. I was in London when that judgment was given. I never knew who gave that judgment. I never went to anybody and that is the way God will get me out of this problem. I’m going through a phase, but ten years in one’s life time, for crying out loud is unfair on this government. So, they should either prosecute or unchain me. That’s what I mean by naivety. You mean y o u r resignation in 2005 was due to naivety? When I was Senate President, it was not my father’s sit. As soon as Obasanjo wanted me out because I opposed his third term bid and that even brings me back to another issue; that is why he refused to even give me my national award which I ought to have gotten in I’m going 2003. Immediately through a after being sworn phase, but ten in I was supposed years in one’s to have gotten that in 2003. life time, for GCON Whatever he crying out contrived came up 2005. But loud is unfair in because he had on this approached me in government 2003 a month or two after we came

Continues from page 48 You see, I’m a man from a very humble home that one would expect that things should take their natural courses. That’s why I waited for that judgment discharging me from the Court of Appeal. That judgment was challenged by the ICPC up to the Supreme Court. One thing is very clear and no member of judiciary will say that I, Senator Adulphus Wabara, that I have come to lobby for anything I’ve not lobbied anybody. But I have exhausted my patience as we speak. Even if I was going to be imprisoned by Obasanjo because I refused his third term bid, I would have served the term and I would have been out by now. I’m just asking the judiciary to expedite action as per the judgment delivered in the Supreme Court that this matter should be taken back to the lower court for a retrial and it should be done expeditiously. It is two years now since that Supreme Court judgment and I have not been arraigned in court again. I want to now hold the bull by the horns. I’m going to ask my lawyer for whatever it is worth to now ask for mandamus to compel the ICPC to prosecute the case in accordance with the judgment of the Supreme Court.

Discharge from this matter In the ten years that the case has lasted, (Dimeji) Bankole’s case came and it’s gone. (Vincenr) Ogbulafor’s case came after my case; even the Speaker of Lagos. So, why is my own hanging for 10 years? I will not die until I’m either imprisoned or I’m cleared and discharged from this matter. So, I will be asking my lawyer to discharge that case for want of prosecution. How can the accused person be begging government and the ICPC that the case should be tried in accordance with the judgment of the Supreme Court? I had a judgment clearing me from the Appeal Court. They went ahead to appeal in Supreme Court. But for two years now, I’m still hanging. Please, I am calling on the

•Wabara: Zoning should be respected in Abia in, on this third term thing and I didn’t know where he was coming from, I said no, Your Excellency, this cannot work. In 2003, he told me clearly that the way I was working, in 2007, I will continue as Senate President. I said excuse me sir, how can I continue as Senate President when by 2007 the equation will change; the zoning will change and it will be a northerner who will become the Senate President as we have now. That was the end of my discussion with him on that day and that was what cost me my GCON in 2003. It is not even the case of N55 million bribe for budget scandal; that one came up in 2005.

Longest time with Obasanjo

What happened in 2003 that I was not given is just because of my position on third term. But people will say that the third term thing came up in full glare when you had left office. Does it mean that the agenda had been there all along? The third term thing, if you have not heard, started from May 29th 2003 when Obasanjo was sworn in for the second term. That was why when I became Senate President on the third of June 2003, sometime in July, he invited me to his office and that was the longest time I had stayed with Obasanjo – for two whole hours. My younger brother, the then Chairman of Hallmark Bank was also there. The Chief of Staff to Obasanjo then, General Abdullahi was interrupting the meeting every 15 – 20 minutes for two hours and Obasanjo kept telling him to wait. By the time

we came out there, there were so many ministers and so many foreign dignitaries waiting to see the president. They were wondering what were these two brothers doing with Obasanjo inside. It was then that he told me that I was doing a very good job and if I knew that was what he was angling for I would have told him off. Anyway, I told him how can I be Senate President in 2007. He was trying to recruit me but I refused to be recruited.

Third term thing

The third term thing did not start when Nigerians started seeing the hands. We were seeing the third term thing then because of desperation, because his time was running out. He had a national conference too at that time and I said I wasn’t going to fund that confab – I said you have your contingency which then was N 1 billion. I said you can fund your confab from the contingency and that was why that confab cost him N900 million. We have all these details. But I didn’t know I was dealing with a man who will never forgive. He begged me to be present at the opening ceremony of that conference and asked me to please ensure that I came there with Masari. If you guys were watching, I walked across to Masari and dragged him physically for us to go there for the opening ceremony. As soon as we finished the opening ceremony, we left them. But you and Obasanjo started well. At what point did the cord break? I wasn’t very close to Obasanjo when we started. My brother was closer to him and of course,

thank him for making me this important in the polity of Nigeria. But then, my younger brother, Marc Wabara was closer to him I wasn’t very close to him at that time. He never one day approached me on an issue. He would always go through my brother to get to me. Even when there were issues on ground, he would never come straight to me but he will go through my brother. I can remember several thorny issues that he would not come straight. Maybe because I wasn’t close to him. But I made sure I served the country and protected him as well. There was the N50 million third term largesse then, did you partake of it? We learnt that N50 million was brought to your house? Of course no. I didn’t collect any money. But that is another story and it is true that they were distributing N50 million. But unfortunately, some of those who did the distribution are the ones enjoying the government today. If people like us did not kill the third term, those who are in power today wouldn’t be there.

Distribution of N50million

Many of those who shared the money are still in the Senate today, those who actually physically distributed the N50 million, whereas those of us who killed the third term are not even remembered. I know that on Thursday the 16th of May 2007, that was the day the third term died, by 1.30 am, the sum of N250 million was brought to me in my house. The EFCC can come after me and I will tell them the whole story. N250 million was brought and I refused that money. If you juxtapose what I’m saying now with my speech that 16thmorning, I said anybody who has collected any money on my behalf should please return the money back to where it came from because I knew what I was talking about because somebody could say I collected that money and just kept that money. I refused that money when it was brought to me. So, mine was not even N50 million. In fact, it was N250 million with a promise if everything worked out, they would bring more to me.

50—Vanguard, MONDAY, NOVEMBER 3, 2014

Breast cancer: Consistent screening, early detection saved my life — Dame Abimbola Fashola By Sola Ogundipe

IGERIAN women have again been admonished to go for regular breast cancer screening as a means of ensuring they are protected from the menace of the disorder which kills more women than any other type of cancer in the country. Speaking in Lagos last week at the flag off of the MTN Foundation, MTNF, Breast Cancer Awareness Campaign, to kick off the free breast cancer screening exercise, wife of the Lagos State Governor, Dame Abimbola Fashola, a breast cancer survivor, said consistent screening and early detection saved her from the killer disease. '”Early detection and screening is the reason I am alive today.

Initiative

“This initiative is a welcome idea as more people will become better informed about this silent killer disease and participate in the free screening provided by MTN at the MTN Foundation mammography centres across the country,'' Fashola said.

Breast cancer kills one in every 25 Nigerian women and an annual screening guarantees prevention of untimely death. The World Health Organisation, WHO, has declared breast cancer the number one cancer scourge. One in eight women has a lifetime risk. The free nationwide screening initiative, is a corporate social investment vehicle of MTN Nigeria, to commemorate the annual global awareness on the scourge of breast cancer held every October. The exercise was organised for 1,500 beneficiaries across the six geopolitical regions of Nigeria, in partnership with Deux Projects. Medical Director, Optical Cancer Care Foundation, Dr. Femi Olaleye, said the incidence of breast cancer is one in 25, but because Nigerian women are not screened regularly, it's actually a death sentence. “Here in Nigeria, most of the diagnoses are made when it is too late, thereby leading to several needless and painful deaths of our beloved mothers, sisters, aunts, friends and colleagues.

• L-R; Mrs. Rachael Oniga, Nollywood actress; Mrs. Abimbola Fashola, Wife of Lagos State Governor; Ms. Nonny Ugboma, Executive Secretary, MTN Foundation and Mrs. Gloria Nobert Young, Nollywood actress during the MTNF Breast Cancer Awareness Campaign Walk, in Lagos. One or two in every 25 Nigerian women are at risk of breast cancer, but higher risks exist for women who are older than 45, older than 30 at birth of their first child, and women with family history,'' he added. Olaleye who gave a demonstration of Breast Self Examination, BSE, to check for lumps, thickenings and nipple discharge. Medical practitioners were also available to perform clinical breast examination and offer free advisory services.

Awareness

As part of the awareness, MTN executives, stakeholders and key

influencers participated in a roadshow which kicked off from Falomo roundabout and terminated at Freedom Park, Marina, Lagos. MTNF Director, Mr. Akinwale Goodluck, said the initiative, which underscores the essence of the Foundation to positively impact the lives of Nigerians, will be providing free breast cancer screening at MTN Mammography centers nationwide. “They are located at the General Hospital, Marina, Lagos State; Federal Medical Centre, Lokoja, Kogi State; Federal Medical Centre, Nguru,

Yobe State; Usmanu Dan Fodiyo University Teaching Hospital, Sokoto State; University of Nigeria Teaching Hospital, Enugu State and Specialist Teaching Hospital, Irrua, Edo State,'' he added. The walk will be replicated in Edo, Enugu, Sokoto, Yola and Kogi, to sensitise the public about breast cancer with medical practitioners and specialists on ground to enlighten people and encourage women to get screened at designated points. Early detection can help put a check on several needless and painful deaths of our women'' Goodluck said.

Bed space is our biggest challenge — LASUTH Board T

By Chioma Obinna

HE newly constituted Management Board of the Lagos State University Teaching Hospital, LASUTH has identified bed space as its biggest challenge. Chief Medical Director of LASUTH, Prof. Adewale Oke however admitted that the numerous challenges faced by the hospital enabled it grow in manpower and development of means and structures. Oke, who recalled that LASUTH started as a cottage hospital lamented the influx of patients from other part of the country to access care at LASUTH saying, it has become a serious challenge as the hospital have limited bed space. Rejection of patients: "When a hospital is full, it is full. It is very unethical and unprofessional for patients to be nursed on the floor. When a hospital is stretched to capacity, there is nothing anyone can do about it. We have 600 beds and when they are full they are full. In the best of countries, when a hospital is full, people make provision at other hospitals. Blaming the situation on poor referral system in the country, he said: "The state government has come up with Services Charter to ensure work is done accordingly. In each unit there is an administrative manager and a committee put in place to check if vacant beds are being filled up to ensure no patient is

•Prof. Adewale Oke, LASUTH CMD sent back. It is no longer business as usual." Training: Oke said the hospital has got four hospitals in India for hands-ontraining for doctors. "Right now, we have sent two doctors to India. Each department in the hospital has been asked to develop an MOU that will take cognisance of training. We have further to talked to them about administration,

record keeping and every other thing that we require that will make our hospital run as a unit." The CMD said LASUTH is capable of handling any kind of emergency in view of modalities in place as a form of proactive response.He said that new look 130-bed Ayinke would be ready early next year, while the expansion of the obstetrics and gynaecology wing of the hospital is near completion and will soon be fully staffed and equipped for better coverage. Stewardship: Giving account of stewardship, Chairman of the Board, Dr Francis Williams, said through assistance of the State Government, the health institution had actually improved in terms of patient care, infrastructural development, staff welfare and training as well as procurement and refurbishment of medical equipment. Williams said the influx of patients who have no business at the tertiary institution, was another burden, and urged the public to utilise services of the primary healthcare centres and General Hospitals within their

vicinities. He explained that decongesting LASUTH would help the staff focus more on research for the development of the state healthcare delivery and other serious cases that requires the hospital's services. Reeling out milestones achieved by the hospital, Williams explained that the oxygen manufacturing plant produces pure oxygen with purity of 98 percent. used in LAUSTH, which has begun operations in its Burns and Trauma Centre extension located at Gbagada General Hospital. "Right now, LASUTH has acquired a number of investigation machines including a 24-hour treatment for accident and trauma cases at the surgical emergency unit. We have performed six keyhole surgeries of the chest called video - assisted thoracoscopic surgery, VATS. “In a ground-breaking feat, LASUTH successfully carried out a cochlear implantation to correct hearing deficiency in two patients. LASUTH also carried out a coronary artery bypass graft in 2013 amongst others." The LASUTH laboratory is equipped with new machineryand is certified by the National Coordinating Centre for Tuberculosis to own for the Gene Xpert machine for detection and diagnosis of TB and MDR-TB.

VANGUARD, MONDAY, NOVEMBER 3, 2014 — 51

BRIEFS Kenyatta orders bandits to handover guns

Burkinabes protest military coup G

UNFIRE erupted outside the headquarters of state television in Burkina Faso yesterday as an opposition politician tried to announce she was in control of the West African country that was plunged into chaos days earlier after the president was forced out. About 1,000 people had gathered at the Place de Nation in Burkina Faso’s capitaltoaskforacivilianand democratic transition. Opposition politician Saran Sereme and her supporters went to the headquarters of state television, where witnesses said she planned to declare herself the interim president. Sereme’s efforts were blocked, however, when army Gen. Kwame Lougue showed up at the studios and entered without speaking to journalists who were waiting there for the announcement. In the aftermath of the gunfire, the military made a show of force by deploying

•Gen. Kwame Lougue armoured vehicles along all of the avenues leading to the national television and radio station offices, witnesses said. The developments underscored the uncertainty about who was actually at the helm of Burkina Faso after longtime president Blaise Compaore resigned Friday after 27 years in power and fled with his family to Ivory

Coast amid violent protests seeking his ouster. Two different military officials had declared themselves in charge before thearmyconfirmedSaturday that Lt. Col. Isaac Yacouba Zida was the transitional leader. The army did not give details on the timeline of the transition. Some activists on Sunday called for an inclusive

transition while others questioned the legitimacy of Zida’s rule altogether. Stanislas Benewinde Sankara, the leader of one opposition party, called for the dismissal of Zida’s government. “The army cannot lead us — they have disqualified themselves,” said Sankara, who is of no relation to the late slain Burkinabe leader with the same name. “This is the result of a popular insurrection.” The United States and the African Union also have condemned the power grab by the military. “We call on the military to immediately transfer power to civilian authorities,” said State Department spokeswoman Jen Psaki. “We urge civilian leadership to be guided by the spirit of the constitution of Burkina Faso and to move immediately towards free and fair Presidential elections.”

Zambians pay respects to late president Sata

AMBIANS formed long lines yesterday to pay last respects to their late president, Michael Sata, who died in London last week aged 77 while undergoing treatment for an undisclosed illness. Sata’s body, which was repatriated on Saturday, is to lie in state for a week in the capital Lusaka until a November 11 funeral in a graveyard reserved for heads of state. Sata’s widow Christine, along with other family members and officials, were among the first to view his body in the Mulungushi International Conference Centre. The

•Late president, Michael Sata doors were then opened to the public. Vice President Guy Scott has taken over as acting president until an election is held within 90 days. Scott — born of Scottish

parents and Africa’s first white leader since South Africa’s apartheid era — cannot run because Zambia’s constitution bars candidates of direct foreign lineage. Sata, a former trade union leader nicknamed “King Cobra” for his acerbic broadsides, had denied persistent rumours in the last few months of his reign that he was gravely ill. His detractors portrayed him as an authoritarian populist, while his admirers — many ordinary Zambians among them — remember him as a

dynamic figure with the country’s best interests at heart. “Our president was a selfless man who wanted the best for this country, he sacrificed a lot for this country,” one grieving citizen, Mary Tembo, told AFP after viewing Sata’s casket. Jean Ndayisenga, a Rwandan refugee living in Zambia for 17 years, said Sata would be remembered for giving refugees permanent resident permits. He said no previous Zambian presidents had ever given refugees such status.

ENYA’S president Uhuru Kenyatta yesterday ordered all guns and attackers be turned over to authorities in a northern region after raiders ambushed and killed 22 police. President Uhuru Kenyatta traveled to the country’s North Rift region a day after the slaughter of the police force. “We will take firm action against those who killed security officers in this area. These criminals must pay for their heinous act,” Kenyatta told a gathering of elders. Regional powerbrokers said the attackers mistook the police for an invading tribe. Tribal violence in northern Kenya, often over cattle, is common. Kenyatta ordered the tribe to turn over those responsible for the attack immediately. The tribe asked that they be given two weeks to do so.

Libya’s Tripoli airport deports 600 Egyptians

BOUT 600 Egyptians have been refused entry to Libya on arrival at Tripoli’s Matiga airport due to invalid visas, an airport official said at the weekend. The airport, like the rest of the Libyan capital, is under the control of an armed group with Islamist links which seized Tripoli in August. The new rulers have set up their own government and parliament, forcing the internationally recognised Prime Minster Abdullah al-Thinni to move to the east. Libya has refused entry to Egyptian workers before, due to forged or expired visas, but some Libyan social media websites linked the decision to Egypt’s support for Thinni’s government. Operation Dawn, the armed group controlling Tripoli, has accused Egypt of having flown repeated air strikes on targets in Tripoli and Benghazi, the main eastern city.

UN warns on growing number of foreigners in terror groups

new United Nations report says the world faces a challenge of foreign fighters in terror groups on an “unprecedented scale,” with about 15,000 in Syria and Iraq alone. The report by a panel of experts monitoring al-Qaida and the Taliban, obtained Friday by The Associated Press, has been submitted to the U.N. Security Council. “Numbers since 2010 are now many times the size of the cumulative numbers of foreign terrorist fighters between 1990 and 2010 - and are growing,” the report says. The panel was set up to support the council’s al-Qaida sanctions committee. The panel says fighters from more than 80 countries working with al-Qaida associates in Syria and Iraq “form the core of a new diaspora that may seed the threat for years to come,” and that domestic terrorism could rise as fighters return to their home countries.

Mid term Polls: GOP, Democrats fight in key states

MERICAN voters will decide which party controls the U.S. Senate in Tuesday’s elections, and at least 10 competitive races are still considered too close to predict a winner. Thirty-sixofthe100Senate seats are at stake in the midtermelections,whichare held halfway through the four-year presidential term. Republicans must pick up six more seats from Democrats to reclaim a majority. All 435 seats are up for election in the House of Representatives, where Republicans are expected to expand their majority, and

•President Obama governors will be chosen in 36 states. Here are the key Senate battlegrounds: ALASKA First-term Democratic Senator Mark Begich is trying to hold off Republican Dan Sullivan, a former state attorney general. Begich has

touted his deep roots in the state, where his father was a congressman, and painted Sullivan, born in Ohio, as an outsider. ARKANSAS Republican Tom Cotton, a first-term congressman and Iraq war veteran, hopes to oust Democratic Senator Mark Pryor by casting him as an ally of unpopular DemocraticPresidentBarack Obama. COLORADO R e p u b l i c a n Representative Cory Gardner, campaigning as a moderate conservative, is challenging Democratic Senator Mark Udall in the traditional swing state.

GEORGIA Michelle Nunn, daughter of popular former Senator Sam Nunn, is battling to pick up a seat for Democrats against Republican David Perdue, a former chief executive of Dollar General, in the race to replace retiring Republican Senator Saxby Chambliss. Libertarian AmandaSwaffordcouldpick up enough votes to force the race into a Jan. 6 runoff if no candidate gets more than 50 percent of the vote. IOWA Republican Joni Ernst is seeking to become the first woman to represent Iowa in the Senate by defeating Democratic Representative

Bruce Braley, a four-term congressman, in one of the country’s hardest-fought races. They are vying to replace retiring Democrat Tom Harkin. KANSAS Three-term Republican Senator Pat Roberts is struggling to survive an unexpectedly strong challenge from independent businessman Greg Orman. Democrat Chad Taylor dropped out of the race to clear the way for Orman. Republicans have held the two Senate seats in Kansas since 1939. KENTUCKY The top Republican in the Senate, Mitch McConnell,

is seeking re-election to a sixth term against Kentucky’s Secretary of State Alison Lundergan Grimes. Democrat Grimes refused to say during the campaign whether she voted for Obama in 2012. LOUISIANA Three-term Democratic Senator Mary Landrieu is fighting for her political life against Republican Representative Bill Cassidy. A third candidate, Tea Party-backed Republican Rob Maness, also is in the race, and a Dec. 6 runoff would be needed if no candidate gets more than 50 percent.

52—Vanguard, MONDAY, NOVEMBER 3, 2014

Dangote slashes cement price to N1000 per bag

Vanguard CLASSIFIED ENUDI—I, formerly known and addressed as Miss Elizabeth Ifekam Enudi, now wish to be known and addressed as Mrs. Elizabeth Ifekam Ali. All former documents remain valid. General public please take note.

AYO D E L E — I , formerly known and addressed as Miss Ayodele Funmilola Bamidele Morenike, now wish to be known and addressed as Mrs. Fasuan Funmilola Bamidele Morenike. All former documents remain valid. General public please take note.

EKO—I, formerly known and addressed as Miss Eko Ewomazino Jennifer, now wish to be known and addressed as Mrs. Gbajimi Ewomazino Jennifer. All former documents remain valid. General public please take note.

Confirmation of name

By Victor Ahiuma-Young

This is to confirm that the name Okiemute Ijabor Thomas and Okeremute Ijabor, refer to one and the same person. But now wish to be known and addressed as Okiemute Ijabor Thomas. All former documents remain valid. Ecobank Plc and general public please take note.

SALISU—I, formerly known and addressed as Miss Salisu Maryam Titilayo, now wish to be known and addressed as Mrs. Sebiotimo Maryam Titilayo. All former documents remain valid. National Youth Service Corps (NYSC) and general public please take note.

OTARU—I, formerly known and addressed as Mr. Amanshi Peter Otaru, now wish to be known and addressed as Mr. Amaneshi Peter Ako. All former documents remain valid. General public please take note.

AREBU—I, formerly known and addressed as Miss Omolegho Judith Arebu, now wish to be known and addressed as Mrs. Omolegho Judith Akebofah. All former documents remain valid. General public please take note.

ETIM—l, formerly known and addressed as Miss Helen Sylvester Etim, now wish to be known and addressed as Mrs. Helen Francis Abianga. All former documents remain valid. General public please take note.

EGAREVBA—I, formerly known and addressed as Miss Oghogho Egarevba, now wish to be known and addressed as Mrs. Oghogho Itua. All former documents remain valid. General public please take note.

Confirmation of name Gbemi Oghenekevwe Victory is the same person as Gbemi Oghenekevwe and now wish to be known and addressed as Gbemi Oghenekevwe Victory. All former documents remain valid. General public please take note.

OGBONNA—I, formerly known and addressed as Miss Ogbonna Adaeze C., now wish to be known and addressed as Mrs. Adaeze Ibele Idante. All former documents remain valid. General public please take note.

EZIUKWU—I, formerly known and addressed as Miss Eziukwu Eucharia Chinyere, now wish to be known and addressed as Mrs. Okereafor Eucharia Chinyere. All former documents remain valid. General public please take note.

ATEREZI—I, formerly known and addressed as Miss Aterezi Patricia Okemena, now wish to be known and addressed as Mrs. Mokwenye Patricia Okemena. All former documents remain valid. General public should please take note.

OGIDI—I, formerly known and addressed as Miss Ogidi Joy Yilshak, now wish to be known and addressed as Mrs. Ogbahi Joy Yilshak. All former documents remain valid. Nigerian Civil Defence and general public please take note.

OGBETA—I, formerly known and addressed as Miss Onome Ogbeta, now wish to be known and addressed as Mrs. Onome E. Ifowe. All former documents remain valid. General public please take note.

GIDEON—I, formerly known and addressed as Miss Gideon Sophia Ujiro Doris, now wish to be known and addressed as Mrs. Doris Ujiro Doibo. All former documents remain valid. General public please take note.

AGOS—LEADING cement manufacturer, Dangote Cement Plc, weekend, announced drastic reduction of the prices of its cement. The new price regime announced by the Group Managing Director/Chief Executive Officer, GMD/ CEO, of Dangote Cement, Mr. Devakumar Edwin, pegged the Dangote 32.5 cement grade at N1,000 per 50 kg bag, while the higher 42.5 grade would sell for N1,150 per bag. A statement by the company at the end of a management meeting said, however, that the new prices were exclusive of the Value Added Tax, VAT, representing about 40 per cent discount on the prevailing market price of the product currently sold for N1,700 irrespective of the grade, across the country. Edwin said the move was in line with the company’s commitment to the nation’s dire need for the development of infrastructure and to boost the federal and state government’s ongoing effort to reduce the near 20 million housing deficit in Africa’s largest economy. He said, “we recognize the need for an increased rapid response to the huge infrastructure and housing deficit in the country, and one of the ways of addressing the issue is bringing the price of building materials down to much more affordable

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OSHOTURE—l, formerly known and addressed as Miss Janet Oshoture, now wish to be known and addressed as Mrs Janet .O. Amere. All former documents remain valid. General public please take note.

YENASINE—l, formerly known and addressed as Miss Yenasine Tammy Deborah, now wish to be known and addressed as Mrs Alari Tammy Deborah. All former documents remain valid. General public please take note.

MOSBOY—l, formerly known and addressed as Miss Mosboy Ebitonmo Loveth, now wish to be known and addressed as Mrs Zuokumor Mosboy Ebitonmo Loveth. All former documents remain valid. General public please take note.

OLU—l, formerly known and addressed as Miss Olu Praise, now wish to be known and addresed as Mrs. Praise Richard Nwaelo. All former documents remain valid. General public please take note.

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levels especially cement which is within our control as part of our contribution to the transformation agenda of the Goodluck Jonathan administration and the attainment of key milestones in the Millennium Development Goals, MDGs. “Since the commencement of the implementation of the backward integration policy for cement in the country over 12 years ago, the local production capacity of the product rose from less than three million metric tonnes per annum to about 38 million metric tonnes per annum. During the more than 12-year period of the backward integration policy, nearly $20 billion has been directly and indirectly injected into the Nigerian cement industry with Dangote Cement Plc accounting for 60 per cent of that spend.” The GMD/CEO added that Dangote Cement Plc would continue to ensure alignment of its corporate social responsibility with its strategic business initiatives and will continue to evaluate its pricing regime in Nigeria’s best interest. Meanwhile, the timing of the initiative has confounded industry watchers, who say that from experience, the cement market is on the verge of entering the accelerated demand phase as the raining season is tapering and the dry season which provides the opportunity for increased construction and building activities is setting in.

Ekere calls for issue-based campaigns

HEAD of the November 29, 2014 governorship primary, the immediate past Deputy Governor of Akwa Ibom State and one of the governorship aspirants of the Peoples Democratic Party, PDP, Mr. Nsima Ekere, has called on all aspirants to run issuebased campaigns. Speaking during his consultation visit to the PDP State Executive Committee in Uyo, Ekere said that of all the aspirants he was the only one concentrating on issues and urged others to emulate him. He listed his four-point agenda for the state to include education and people’s development, economic prosperity, health and social wellbeing and rural development. The former deputy governor also promised to make Akwa Ibom the innovation capital of Nigeria by establishing an

Entrepreneurship Incubation Centre. Responding, the State PDP Chairman, Obong Ekpo, declared that with the endorsement of zoning by the party's National Working Committee, NWC, the real game had started since all distractions were over. He promised a level playing field for all aspirants. A former PDP Deputy State Chairman of the party, Engr. Johnson Essien Ibok, described Mr. Ekere, a foundation member of the party, as the best material in the race in terms of capacity for the office of Governor. Ekere was accompanied to the PDP Secretariat by his father, Sir Gabriel Ekere, several political heavyweights, former state officers of the party, clerics, women, youths and cultural groups.

Vanguard, MONDAY, NOVEMBER 3, 2014 — 53

Moses disappointed with Stoke draw S

*Victor Moses

TOKE City’s Victor Moses is disappointed he and his teammates failed to get a win over in-form West Ham United after letting a two-goal lead slip as the Hammers bounced backed to secure a valuable point at the Brittania Stadium. Moses, who played for the entire duration of the game had given the Potters the lead on 33 minutes, before Senegalese striker Mame Biram Diouf doubled the lead after 56 minutes. But Enner Valencia halved the deficit when he scored four minutes later, before former Liverpool wideman Stewart Downing leveled the score with a 73rd minute strike. And Moses has expressed his disappointment at their failure to see the game through, but was also pleased to have score.

BY JACOB AJOM

RRANGEMENTS are in top gear for the formal launch of ExRangers International Players Association, USA branch. The launch will be climaxed with a convention which will dwell on the plight of former players of the club. The event has been planned for November 7 in the United States. Ike Ofoje, a US based ex-Rangers player is championing the formation of the body whose main responsibility will be the rehabilitation of distressed ex-players of the club. Speaking on the convention, a former captain of the team, Coach Christian Chukwu said it was an idea copied from ex players associations of other great clubs around the world. “Some of us have been invited to attend the launch in the US and I must admit that it is a great idea. Although I cannot make it there,

Okala, Onyedika for Rangers US convention some of us are going to be there to represent the rest of us. We are a family,” Chukwu enthused. “The association will focus on the welfare of some of our members and above all, it is meant to engender visibility and recognition for former members of this great club. It is similar to such other bodies like Ex-Manchester United players. When they enter the stadium, they are accorded respect and given a special place to stay. “This will, no doubt, impact positively on the younger ones as they will want to emulate their former heroes, so that one day, they will also earn the same respect and privileges from their younger

Ali’s doctor plays down health fears M

UHAMMAD Ali’s doctor has played down reports that the former world heavyweight champion’s health is deteriorating. Ali has had Parkinson’s disease since 1984 and last month his brother revealed the condition had advanced to such as stage that he is barely able to speak or leave his Arizona home. However, speaking to the BBC, Dr. Abraham Lieberman insisted Ali’s life was not in any im-

minent danger. “I don’t know that he is more or less at risk than anyone else but anything can happen,” Lieberman said. “I don’t see anything immediately that leads me to think that he is going to die in six months or a year. People do not die of Parkinson’s. They develop trouble swallowing, they develop pneumonia, fall and bang their heads. His family take extraordinary care of him.”

HE efforts of the management of Greensprings School to lift football at grassroots level have started yielding positive result as the school team at the weekend emerged winner of the Lagos qualifiers of the maiden Etisalat U-15 National Championship. The school being the private school in the Lagos qualifiers competed against five public schools in the state. The giant stride made by the school within and outside the country prompted the Lagos

State Football Association (LSFA) to pick the school as education district three flagbearer.

Ali . . . Muhammad Ali’s doctor does not see any immediate cause for concern over the former world champion’s health. Photograph: Dave Thompson/PA

Match fixing saga: Sodje thanks sporting press, Nigerians

ORMER Super Eagles defender, Sam Sodje, who was recently given reprieve from accusations of match fixing by a court in England has thanked millions of Nigerians, especially the sporting press, who stood by him during his ordeal. Sodje, who once played in the English Premier

ones.” Some of the ex-Rangers expected to grace the event in US include, Ifeanyi Onyedika (Ahidjo) Francis Nwosu (German War) and Emma Okala(Man Mountain). Meanwhile, the death has been announced of two former players of Rangers International. They are Ernest Ufele and Luke Okpara. While Ufele has been marked for burial on November 21st, the latter has been billed to be buried on the 27th, “They were great pioneers of the club,” Chukwu said, adding, “ we need the cooperation of all in order to give them befitting burials.”

Satech wins GOtv ‘Hood to Hood’ football tourney

Etisalat U-15 championship: Greensprings for zonal finals

Okala

League, got the reprieve when the National Crime Agency (NCA) that had been investigating him and 12 others for allegations of match fixing were released, following a judge’s comment in relation to the collapse of the Tulisa Contostavlos drugs trial. Undercover reporter, Mazher Mahmood, also

known as the ‘Fake Sheikh’s five-page article in The Sun on Sunday led to the prosecution of Sodje and others, Mahmood’s article also led to the Contostavlos drug trial. In July 2014, Mahmood was suspended by his employer following a judge’s statement that Mahmood may have perjured himself.

Contostavlos’s case, that of Sodje and 29 others were dropped because of accusations of perjury against their accuser, Mahmood. Sodje who spoke over the weekend said he chose not to go into details about the matter but he thanked Nigerians and the sporting press for their support.

ATECH FC of Mushin at the weekend, won the Season 2 of the GOtv Hood to Hood Football Championship. Satech FC defeated Kings FC 2-1 to emerge winners of the competition in the final match played at the Legacy Pitch, National Stadium Surulere, Lagos. The Champions were presented with gold medals, a trophy and a cash prize of N500,000, while the runners up received N250,000.00. Earlier in the third place match, IGI Premier FC of Apapa defeated Rainbow FC of Iyana Ipaja by 4 goals to 1 to emerge third and fourth position in that order. The third place team also received a cash prize of N150, 000.00 while the fourth placed team received a consolatory prize of N100, 000.00.

54 — Vanguard, MONDAY, NOVEMBER 3, 2014

Manchester Derby: City beat Man-U

NFF wants First Lady to lead Falcons to Canada

HAMPIONS Manchester City continued their recent derby dominance with a 1-0 Premier League win over 10-man Manchester United on Sunday. Aided by Chris Smalling’s sending off during a goalless opening period at the Etihad Stadium, Manuel Pellegrini’s men took control after the interval as Sergio Aguero grabbed the decisive goal, his 10th in the league this season. The Argentina striker’s effort condemned United to a fourth successive league loss to their rivals for the first time since 1970 and ensured Louis van Gaal was defeated in his maiden all-Manchester clash. Anticipation was high as City attempted to end a three-game winless run in all competitions and their hopes were raised towards the end of a breathless first half, with Smalling given his marching orders after picking up two stupid yellow cards.

BY JUDE OPARA, Abuja

L R: Jonathan Rigby, Head of Marketing, Manchester United, Probal Bhattacharya, Head of Marketing, Chi Limited, Anirban Sarkar, Brand Manager, Chi Limited and Anthony Banerjee, Relationship Manager, Chi limited during the signing of partnership between Chi Limited and Manchester United in Manchester UK

4 former Obudu champions return for 2014 race A S many as four former winners of the Obudu international mountain race have confirmed their participation in this weekend’s race

Ex-international Continues from BP sheath his sword for the good of the game but he could not come to terms with the news that Stephen Keshi agreed to come back after being shown the exit door by the Nigeria Football Federation, NFF. “It’s scandalous. It’s a shame that he even agreed to come back”, Arisa , one of the beautiful brides of Nigerian football in the 80s said. Arisa who played for Nigeria’s big Clubs ACB, Iwuanyanwu Nationale and Bendel Insurance and tickled souls with his mastery of scoring goals in the Green Eagles under the tutelage of coaches Adegboye Onigbinde and Paul Hamilton advised Keshi to quit when the ovation was loudest. “Keshi remains a hero in Nigerian football. But he should know when to remain a hero before he falls to zero. With our performances at the C M Y K

HE Nigeria F o o t b a l l Federation (NFF) has appealed to First Lady, Dame Patience Jonathan to lead the African Women Champions, the Super Falcons of Nigeria to the 2015 FIFA Women World Cup to be hosted by Canada. Board member of the NFF and Chairman of the Nigeria Women Football League, Chief (Mrs) Dilichukwu Onyedinma told journalists in Abuja over the weekend that the invitation was a mark of honour for Dame Jonathan whom she

added has been a strong pillar for the emancipation of women in the country. In addition, she noted that the team would need her patience and good luck to succeed at the world stage. Onyedinma who also used the occasion to reel out the achievements of female football since her election in 2011 noted that after the initial challenges that confronted her board, they have been able to reposition the Women League with the resultant effect of the discovery of young and talented girls from across the country.

World Cup and the catalogue of poor results thereafter especially in the AFCON gualifiers, I think Keshi should have read the handwriting on the wall. Nigerians will lynch him if he fails”. Arisa who embraced the headlines as one the highest goal scorers of his time predicted that Keshi’s second coming could spell disaster for Nigerian football. “In all honesty, I don’t see Nigeria doing well under him. He desperately needs help to impart something in the players. His technical bench is empty. What value can Amokachi add to him. Nothing. I see that Ike Uche one of the best forwards of Nigeria he left out for reasons only he knows has been recalled. That is where the problem starts. Ike Uche might not sparkle under him. The Keshi I know hardly forgives. He will not want people to laugh last if Ike comes back to do well. He has

which holds at the Obudu Ranch Resort in Obudu, Cross River state. Top on the list of the former champions who are staging a return is

lost that commanding role and the players are not comfortable with him, again”, Arisa said on our hotline. Arisa wants a foreigner who is not biased and with interest on youths from our clubs to step in to salvage our football. “Imagine inviting players from China? Our local players are better than them. If we want to stop incessant frictions over bonus and all, we need a foreigner. Indigenous coaches are sentimental with their selections”. Arisa also advised President Jonathan to pay attention to the myriads of problems in the country and allow those elected to run football in the country to run the game. “How will Keshi relate with Pinnick since he knew that his help comes from the Presidency? The President has sown a seed of discord in our football without knowing it”. Before he dropped, Arisa asked; “ what happened to the many offers I read that were on the table for Keshi?

Ethiopia’s triple winners,Abebe Dinkesa who will be gunning for an historic fourth title at the race tagged Mountain Rcae for the Stars to cele-

brate the 10th year of hosting Africa’s first ever mountain race championships. He won the men’s title and the accompanying

Pillars Continues from BP Champions League along with the eventual runners-up of the championship. Representation at the continental level is where the problem of Kano Pillars normally begins. The club does so well at the local level but is always found wanting in the continent. The farthest Pillars have gone in the continent was in 2009 when they reached the semi final of the CAF champions League. In the 2011 and 2013 editions the club was knocked out in the first round while in the 2014 edition Pillars were shown the way out in the preliminary rounds of the competition. Without taking anything away from the Nigerian champions, their consistent failure in the continent is a source of worry to observers who have concluded that the Globacom League is not always won by the best

team in the land. The third-placed club features in the 2015 CAF Confederation Cup. Warri Wolves, Nasarawa United and Abia Warriors are in the race for this ticket. Pillars scored twice in the first half through Gambo Mohammed and Azeez Shobowale, before Adamu Hassan completed the routing of the league’s bottom team. In Port Harcourt, Dolphins, who called off a pay strike, took the lead in the 51st minute through a curling effort by Chidiebere Okolie, which took a wicked deflection to beat goalkeeper Femi Thomas. Mfon Udoh drew Enyimba level in the 76th minute. It was a recordbreaking goal as he has now set a new all-time record of 21 goals in a single season to beat the previous record of 20 goals set by Jude Aneke three seasons ago.

$50,000 top prize in 2008, 2010 and 2012. Also staging a return to challenge for the top prize is the men’s def e n d i n g champion,Kenya’s Philemon Rono who ran 1:00:43,the fastest time by any man at the race since the course changed from 11.25km to 13km to win last year. Rono will also be hoping to become the first man to successfully defend the men’s title at the championship. Dinkesa holds the former course record and the fastest winning time at 41.45 seconds which he ran in winning his first title in 2008. Another man staging a return is Ethiopia’s Hunegnaw Mesfin who won the men’s title in 2011 with 41:50,the second fastest winning time of the old course. A n o t h e r Ethiopian,Genet Yalew is the only former winner making a return for th top prize and honour of being crowned Obudu mountain race queen. Yalew will be aiming for a hat-trick of titles after winning in 2011 and 2013.She won her first title in a record setting fashion,shattering the 48:57 course record set by her compatriot,Meselech Melkamu a year earlier.

Vanguard, MONDAY, NOVEMBER 3, 2014 — 55

Bale back in training for Liverpool E

UROPEAN champions Real Madrid were handed a boost ahead of their Champions League clash with Liverpool in midweek as Gareth Bale returned to training yesterday. The Welshman has missed Real’s last five games with a pelvic muscle injury. The La Liga leaders haven’t missed his presence, though, as they have won all five matches, scoring 19 goals in the process. However, Real boss Carlo Ancelotti played down suggestions Bale will find it difficult to regain his place in the side. “Everyone thinks that Bale is a problem, but I think he is a player that will help us to be even better,” said the Italian. Victory over a struggling Liverpool side will guarantee Real’s place in the last16 and right-back Dani Carvajal is Ancelotti’s only injury doubt after limping off during the 40 win over Granada on Saturday.

Meyiwa: SA Police arrest 13

BLOCKING . . . Manchester United’s defender Marcos Rojo (L) battles with Manchester City’s striker Sergio Aguero (R) during their English Premier League derby at the The Etihad Stadium in Manchester, City won 1-0. Photo: AFP

Van Gaal confirms Rojo’s shoulder injury M ANCHESTER United manager Louis van Gaal has re-

vealed Marcos Rojo suffered a dislocated shoulder against Manchester City. The Argentina international was stretchered off early in the second half at the Etihad Stadium after sliding in on Martin Demichelis, with the medical staff seemingly giving the defender oxygen for the pain. And though Van Gaal is unsure as to the time frame for the former Sporting Lisbon man’s

recovery, he admitted he is likely to miss out against Crystal Palace on Saturday. “The shoulder is out, you never know how long that will take, I have to wait until tomorrow I think but he shall not play against Crystal Palace,” he told Sky Sports. “We have a lot of injuries in defence but you have seen how Michael Carrick and Paddy McNair came in. I don’t think that is the problem.

“We still have 11 players to play and also very good players, so I don’t cry for that but it is sometimes difficult to select the best team, but I think i can manage that and we are close, you can see it every week, but you need more points. “I see the fans are applauding after the game, so they see also that the boys are willing to give everything for the shirt of the club.”

CCORDING to the SA Police Service, as many as 13 people have been questioned in connection to Senzo Meyiwa’s tragic killing a week ago The SA Press Association (Sapa) reported on Sunday that Divisional commissioner of detective services, Lt-Gen Vinesh Moonoo, has confirmed that the Police are making solid progress with regard to finding the former Bafana Bafana and Orlando Pirates goalkeeper ’s killers. Meyiwa was shot dead last Sunday in Vosloorus, while visiting girlfriend Kelly Khumalo at her mother’s house. Two men allegedly entered the home demanding cellphones, before shooting Meyiwa in the back and fleeing. “We are not able to give minute details about all developments in the investigation and will give an update during a media briefing on Monday,” Moonoo told Sapa. Meyiwa was buried at the Heroes Acre cemetery in Chesterville, Durban on Saturday.

•Late Meyiwa

Simeone: Griezmann deserves goals

•Bale

Walcott: Alexis needs to chill out

HEO Walcott says Alexis Sanchez is so keen to play football all the time that his Arsenal teammates have told him to “chill out” in order to try and ensure he gets a rest. Alexis has made a spectacular start to his Gunners career, netting 10 goals in his first 16 matches and scoring twice in each of his last C M Y K

two appearances against Sunderland and Burnley. And Walcott, who made his own first-team return from injury against the Clarets as a substitute on Saturday, is full of praise for the Chilean’s attitude and qualities on the pitch. “In training he doesn’t even want to do recovery days,” Walcott told talkSPORT. ”That’s how much he loves football.

YOU DID IT . . . Diego Simeone hugs his player Antoine Griezmann after scoring.

IEGO Simeone believes Antoine Griezmann deserved his two goals in Atletico Madrid’s 4-2 win over Cordoba for his fine recent displays since returning from injury. The France international joined the club from Real Sociedad in a £23.5 million deal over the summer but has been criticised for making an underwhelming start to his career at the Vicente Calderon. However, he has slowly adapted to his new surroundings and after scoring in the 5-0 Champions League win over Malmo, the 23-year-

old broke his La Liga duck for Atleti and won the plaudits of his coach in the process. Simeone said: “He has been working fine and when you put in quality work, you get the reward in football. He had a complete game in all aspects, not only for the goals he sccored. He played the match we expected from him.” The victory saw Atletico take advantage of Barcelona’s shock defeat to Celta Vigo and move to within a point of new leaders Real Madrid at the top of La Liga and Simeone believes his side are beginning to gel after a summer of upheaval.

VANGUARD, MONDAY, NOVEMBER 3, 2014

Pillars win third straight league title K

ANO Pillars are Nigeria league champions for a third straight season after

It’s a shame Keshi agreed to come back — Ex-international BY TONY UBANI

x-international, Chike Arisa called from his base in Holland to make enquiries on Nigerian football. He was overjoyed that Chris Giwa had agreed to

points behind and even if they beat Pillars in the final game of the season next Sunday they will fall a point short of the champions on 64 points. Pillars will thus represent Nigeria in next year’s CAF Continues on Page 54

NPL Results Abia Warriors Akwa United Bayelsa Dolphins Rangers Giwa Kano Pillars Sunshine Stars Taraba Warri Wolves

3 0 4 1 0 4 4 4 3 1

Sharks Heartland Lobi Enyimba Nasarawa El-Kanemi Nembe Kaduna Crown FC Gombe

0 1 1 1 0 2 0 0 0 1

EPL Top 5 Chelsea Southampton Man City Arsenal West Ham

Continues on Page 54

Manchester Derby:

P 10 10 10 10 10

W 8 7 6 4 5

D 2 1 2 5 2

L 0 2 2 1 3

GF 26 21 20 18 19

GA 10 5 10 11 14

GD 16 16 10 7 5

PTS 26 22 20 17 17

RESULTS

City beat Man-U — Pg. 54

they beat Nembe City 40 and closest rivals Enyimba failed to beat Dolphins on Sunday. Enyimba forced Dolphins to a 1-1 draw in Port Harcourt. Pillars now have an unassailable 65 points, while Enyimba are four

CHAMPIONS! Kano Pillars players display the league trophy

Man City Arsenal Chelsea Everton Hull Leicester Stoke Newcastle

1 3 2 0 0 0 2 1

Man Utd Burnley QPR Swansea Southampton West Brom West Ham Liverpool

0 0 1 0 1 1 2 0

QUICK CROSSWORD

TODAY'S

PUZZLE

YESTER DAY'S YESTERDAY'S

ANSWERS

ACROSS 4 Glory (5) 7 Recover (6) 9 Family (3) 10 Couch (3) 12 Breezy (5) 13 Aid (4) 15 Send (5) 17 Scorn (6) 19 Deserve (4) 20 Present (5) 22 Irritate (3) 24 Rising (7) 27 Meadow (3) 28 Relaxed (5) 31 Music work (4) 33 Certify (6) 35 Irrigate (5) 36 Murder (4) 38 Crawl (5) 39 Delve (3) 41 Lair (3) 42 Crowded (6) 43 Bordered (5)

DOWN 1 Rank (6) 2 Consent (6) 3 Whelp (3) 4 Fruit (4) 5 Combine (5) 6 Stubborn (8) 8 Fairy (4) 11 Devoted (9) 14 Gull (4) 16 Lake (4) 18 Genuine (4) 21 Hindered (8) 23 Leg-joint (4) 25 Chair (4) 26 Job (4) 29 Adhesive (6) 30 Deceive (6) 32 Vegetable (5) 34 Excursion (4) 36 Imitated (4) 40 Breach (3)

YESTERDAY'S SOLUTIONS ACROSS: 1, Grim 4, Sew 6, Step 9, Tax 10, Detailed 11, Epic 14, Ire 16, Added 19, Charming 21, Petal 23, Derision 24, Bench 27, Rid 31, Mate 33, Schedule 34, See 35, Real 36, Dry 37, Yank.

DOWN: 2, Reel 3, Mean 4, Salaried 5, Wide 6, Steed 7, Tap 8, Exile 12, Scrub 13, Cabin 14, Imp 15, Enter 17, Drain 18, Daunt 20, Garishly 22, Lid 25, Erase 26, Creel 28, Used 29, Edgy 30, Clan 32, Tea.

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.