Lagos plans mass protest over voters card distribution by Vanguard Media Limited

...towards a better life for the people VOL. 25: NO. 62271

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MONDAY, NOVEMBER 10, 2014

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Lagos plans mass protest over voter's card distribution •Tinubu, APC, PDP, INEC differ on progress of exercise

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POCKET CARTOON

RECEPTION—From left: President, Lagos Chamber of Commerce, LCCI, Alhaji Remi Bello; past president, Dr. Ademola Ajayi; Honorary Life President & awardee, Chief Segun Osunkeye; Deputy President & awardee, Chief Nike Akande; Vice President, Chief Michael Olawale-Cole and past president, Chief John Odeyemi at a reception dinner in honour of LCCI members and National Honours Award recipients held weekend in Lagos.

Lagos plans mass protest over voter's card distribution By Clifford Ndujihe, Olasunkanmi Akoni, Dapo Akinrefon, Charles Kumolu & Gbenga Oke

AGOS—FOR the third day running, the polity was awash with complaints over the unending hitches trailing the distribution of Permanent Voters Cards (PVCs) by the Independent National Electoral Commission (INEC) in some states of the country especially in Lagos. The main opposition All Progressives Congress (APC) and its National

Leader, Asiwaju Bola Ahmed Tinubu, threatened to embark on a mass protest against what they called INEC’s “deliberate” plan to rig 2015 general polls for the presidency. The hiccups elicited mixed feelings from some prominent Nigerians. While many chided the electoral umpire for shoddy handling of the exercise, others said the commission was trying all it could to make the process better. To cover lost grounds,

LIFEWORDS

BY PASTOR ITUAH

Be careful what you ask for. When we are young we pray for good health and long life thinking it will meet us in the condition we are in, when our prayers are answered, we live long and grow old, only to find out that old age is not an easy thing.

TAKE HEART BY ELLA RANDLE

It only takes one person to make you happy and change your life:You.

HE Pursuit of Happiness and Human Design. Nancy Etcoff, a cognitive researcher calls it being called Hooked on a Feeling: She concludes that the pursuit of happiness is obligatory. Man wishes to be happy, only wishes to be happy, and cannot wish not to be so. We are wired to pursue happiness, not only to enjoy it, but to want more and more of it. We’re also born pleasure-seekers. Babies love the taste of sweet and hate the taste of bitter. They love to touch smooth surfaces rather than rough ones. They like to look at beautiful faces. They like to listen to consonant melodies instead of dissonant melodies. Babies really are born with a lot of innate pleasures. There was once a statement made by a psychologist that said that 80 per cent of the pursuit of happiness is really just about the genes, and it’s as difficult to become happier as it is to become taller. Contrarily, here is a decent contribution to happiness from the genes, about 50 per cent but there is still that 50 per cent that is unaccounted for. In reality, happiness is a choice. Choose how you want to feel!

Lagos INEC Resident Electoral Commissioner (REC), Dr Adekunle Ogunmola, told Vanguard, the exercise will continue in the 11 local councils which cards are available today. In the 11 councils, he said there are 4611 polling units. And of this figure, he said 1072 polling units have severe problems. He advised those who could not find their names in the register to come out for the Continuous Voters Registration exercise on Wednesday. For the remaining nine local councils, which have 3861 polling units, the cards will be distributed between November 28 and 30. In these councils, he said 731 units have serious problems and the CVR will hold between December 3 and 8. According to him, INEC is making efforts to ensure that all eligible voters get their PVCs.

Hitches are deliberate –Tinubu Senator Tinubu, who doubted INEC’s sincerity described the exercise as a “failure,” because field reports, personal experiences and observations from different parts of Lagos showed that the exercise “has failed and is unacceptable.” His words: “INEC is responsible for awarding contracts for the production of the cards to whomever. Do not forget that in 2011 we sympa-

thized with the cry of (Professor Attahiru) Jega, apologizing to Nigerians on the presidential election result that was aborted because they failed to bring materials on time. Now they have enough time for four years to have learnt their lessons. This is deliberate as far as I and APC are concerned. Just as we merged to form a formidable opposition party, they (INEC) have merged with Jonathan to form a formidable rigging body.” Tinubu who vowed that the party would resist all plans by the presidency through INEC to disenfranchise the electorate, said the party would soon take to the streets to condemn the exercise and demand for a proper distribution exercise.

It's programmed to rig in PDP – APC Speaking in like manner, the APC alleged that the process was intentionally programmed to fail in order to disenfranchise voters in the 12 states with the highest number of voters. In a statement issued in Lagos, yesterday, by its National Publicity Secretary, Alhaji Lai Mohammed, the party said the fact that most of the 12 states in which the process has been largely botched in the past three days have the highest number of voters and are under the control of the APC point to a clear collusion between INEC and the (Peoples Democratic Party) PDP. It said most registered voters were unable to collect their PVCs because INEC engaged in a programmed incompetence to swing the elections in favour of the PDP, in what is a clear case of rigging at source. "There is no doubt that this programmed incompetence has emanated from just one source, the ICT unit of INEC, with the intent of sabotaging the PVC distribution process in key states, hence we are calling on INEC Chairman Attahiru Jega to institute an internal inquiry into the botched exercise with a view to fishing out the fifth columnists who are behind the sabotage, and meting out the necessary punishment to them." The party said it is curious that most of the affected states (Kaduna, Kano, Edo, Plateau,

Ogun, Imo, Borno, Rivers, Lagos, Nasarawa, Katsina, Niger) are either opposition strongholds or harbour the highest number of voters.

INEC has uncovered APC’s rigging game plan –Lagos PDP Lagos State Chairman of the PDP, Mr Tunji Shelle reacted to the accusation levelled by the APC that INEC was collaborating with the Presidency to rig next year’s election in Lagos, saying: “This is the first time I am seeing the APC complaining, especially the governor. When they were allegedly doing multiple registration, they did not complain. Now that INEC has discovered their game plan by blocking all the loop holes of multiple registration, they are now crying foul. INEC has discovered this but the INEC is not trying to rig the elections neither will the president interfere with INEC. "I pray that INEC harmonises themselves to ensure that people get their PVCs. It was discovered that some people are hoarding the card but I think INEC should do something about it to ensure that people are not disenfranchised.”

No registered voter has been de-listed in Lagos —INEC Reacting to the complaints and allegations, the INEC, in a statement by Mr. Kayode Robert Idowu (Chief Press Secretary to INEC Chairman) said no duly registered voter was de-listed in Lagos, noting that the commission was committed to ensuring that every properly registered voter got his / her Permanent Voter Card (PVC) for the 2015 general election. His words: “Contrary to allegations in some quar-

ters, no duly registered person has been delisted from the Register of Voters; neither will any be denied his/her PVC. This reassurance is against the backdrop of temporary challenges that have been experienced in the third phase of the distribution of PVCs in some states, which the Commission has been making vigorous efforts to re-mediate. "INEC has since Friday, November 7, been distributing PVCs to registered voters in nine states across the country under the third phase of the exercise. Continuous Voter Registration (CVR) is scheduled to hold in the same states from Wednesday, November 12 to Monday, November 17, 2014. Similar exercises have already been conducted in 24 other states and the Federal Capital Territory (FCT) under the first and the second phases of the programme. The Commission deferred the distribution of PVCs in four other states it had earlier listed for this third phase because the cards for those states have not been fully delivered by printers. “In particular, it is completely false that INEC has removed the records of 1.4 million persons from the Register of Voters compiled in 2011 in Lagos State. It is true that at the end of the 2011 general registration exercise, the Commission announced a figure of 6.1 Continues on page 9

Mr & Mrs

6— Vanguard, MONDAY, NOVEMBER 10, 2014

Woman dies in Lagos road crash By Ifeanyi Okolie

RAGEDY struck Ajangbadi area of Lagos, weekend, as a 24year-old woman was crushed in a crash in involving a tricycle and a motorbike along Era Road. The victim, who was identified simply as Chinwe, was said to have met her untimely death when the motorbike she rode in on her way to work, ran into a tricycle, also known as Keke Napep. Eyewitness disclosed that the accident which occurred around 8:am on Saturday, was caused by vehicles parked in front of Ilogbo Police Post, Ajangbadi. An eyewitness, who gave his identities as Charles Adesuwa, said the rider of the motorbike was on high speed and could not, therefore, see the tricycle as vehicles parked in front of the police post blocked his view. He explained: “The Keke rider was trying to make a turn and the okada rider coming from Era did not see him because of the big vehicles parked on the road in front of the police post.

Three burnt to death in Edo accident By Gabriel Enogholase

ENIN—THREE persons were on Thursday evening burnt to death in an accident that occurred at Ugbokun village, along the BeninLagos expressway. It was gathered that the victims of the accident included the driver of the vehicle and two female passengers. Eye witness account disclosed that the 18-seat commercial, bus marked WWD 624 XA, was heading for Port Harcourt when it had a head-on collision with a lorry conveying wood to Edo State and burst into flames. Sikuru Olawale, one the rescuers, said one of the victims was his sister, adding that the driver of the lorry had an argument with some persons and and in fist of anger, hit the commercial bus. He said all efforts to put out the fire and rescue the trapped victims failed as the fire engulfed the bus.

Fulani herdsmen kill 25 in Nasarawa By Abel Daniel

AFIA—NO fewer than 25 persons, including women and children, were yesterday feared killed by suspected Fulani insurgents at Arikya-Soni, a boundary area between Nasarawa-Eggon and Lafia local government areas of Nasarawa State. Eyewitness told Vanguard in Lafia that the gunmen reportedly ambushed and killed their victims on their way back from the farms early in the morning, and seized nine motorcycles belonging to the

deceased persons. A mass burial was yesterday conducted for the victims after their remains were recovered at Umme, at about 1 pm. The victims, who are all of Eggon ethnic nationality of the state, hailed from Umme, Arugbadu and Bakyano villages of Nasarawa Eggon local government area. When contacted, the Police Public Relations Officer, PPRO, of Nasarawa State command, confirmed the incident and said investigation had commenced to unravel the perpetrators of the criminal act.

A survivor, Mrs. Saratu Mustapha, told newsmen at Ashangbo clinic in the locality where she is receiving treatment for gun shots wound, that she was returning from the farm in company of her husband and sister on a motorcycle when the gunmen attacked them. She explained that her husband and her sister were among those killed during the attack, stating that she was able to escape into the bush. Another survivor from Arugbadu, Habibu Mohammed, explained that he was returning

from the farm along with his parents when Fulani gunmen opened fire on them. Mohammed who could not control his emotions, further explained that he lost his parents in the attack as well as his motorcycle with which he was conveying them. Reacting to the incident, a member representing the area (Nasarawa Eggon East constituency) in the state House of Assembly, Mohammed Muluku, who led journalists to the scene of the incident, expressed shock over the high casualty figure. He called on the Federal Government to establish a permanent military base in the area to prevent further attacks on his constituents.

Soldier kills UNIMAID graduate, steals his car By Ndahi Marama

.The suspected kidnappers and (right) arms recovered from them.

Police arrest hoodlums terrorising Mile 2 areas By Ifeanyi Okolie

AGOS—ANTI-ROBBERY operatives attached to Festac Police Division weekend rounded up eight persons suspected to be hoodlums terrorising motorists at the Mile 2 area of Lagos State. Vanguard learnt that the operatives, who were led by the Divisional Police Officer, Ifeanyi Onwu, coordinated raids around black spots believed to be hideouts for criminals terrorising Mile 2 and its environ. Police sources disclosed that the operatives stormed notorious criminal hideouts around Second Rainbow, Durbar and Mile 2 under bridge. Spokesman at the Lagos State Police Command, DSP Ken Nwosu, while confirming the arrest, said the suspects were undergoing screening and interrogation and would be arraigned in court at the completion of investigation.

Three killed, woman rescued as kidnappers battle police in Anambra By Vincent Ujumadu & Nwabueze Okonkwo

WKA—A SIX-man gang of suspected kidnappers yesterday engaged Anambra State Police Anti-Robbery Squad, SARS, in a gun battle at Okpoko in Ogbaru local government area during which three members of the gang were feared dead and a woman, Mrs. Edith Maduekwe, kidnapped by the gang, rescued by the police. Mrs. Maduekwe, who was kidnapped by the suspects on October 4, 2014 at Oba in Idemili South local government area was rescued at an erosion site in Oraukwu in Idemili North local government area of the state. After the gun battle, the police recovered seven hundred and seventy six thousand naira (N776, 000) from the suspects, which was part of the N1.4 million ransom

paid by the family of the victim. Items recovered from the suspects include one AK-47 rifle with 90 rounds of ammunition, one pump action gun and 10 live cartridges, assorted charms and other weapons. Parading the suspects yesterday, Anambra State Police Public Relations Officer, Mr. Uche Ezeh said the leader of the gang known as Charlie Parker had been on the wanted list of the Police for four years. He said following a tip-off, the state SARS commander, Mr. James Nwafor, a Chief Superintendent of Police, CSP, led his men to the place at Okpoko, where the loot was being shared by the suspects. He said when the suspects sighted the police, they opened fire and the police had to return fire, leading to the death of the three suspects.

AIDUGURI—A soldier in Maiduguri has allegedly shot dead a graduate of physics from University of Maiduguri who gave him a ride and ran away with his car. Vanguard learned that the incident occurred on Wednesday as the soldier asked the deceased to give him a ride, but later shot him dead before reaching his point of disembarkation and made away with the deceased car. Speaking to journalists in Maiduguri, the father of the deceased, Alhaji Konto Sulum, said the soldier asked his son, Mohammed to give him a lift so he could reach his destination, but lamented that before reaching his destination, the soldier shot him dead and ran away with his car. He lamented: “The soldier who thought he was dead, dragged his body out of the car and zoomed off with it. My son crawled down to the roadside, near Asita Hotel at Bolori, where a good Samaritan called the attention of Civilian JTF and they tried to rush him to the hospital but he gave up the ghost before reaching the hospital. “Before my son died, he informed the Civilian JTF that he was shot by a soldier who ran away with his car. The next day his friend saw the soldier and his friend at Oando filling station on Baga road with the car, where they alerted Civilian JTF and they were arrested.” According to him, his 22-yearold son has just graduated from the physics department of the University of Maiduguri, waiting for his call-up letter for NYSC.

Vanguard, MONDAY, NOVEMBER 10, 2014 —7

Jonathan’s declaration tomorrow to run in six world cities By Soni Daniel, Regional

Editor, North, Emman Ovuakporie & Levinus Nwabughiogu

Quality of institutional framework, critical to attracting FDI —NACCIMA

BUJA—SECURITY men drawn from Nigeria’s major formations took over the streets of Abuja yesterday ahead of the formal declaration by President Goodluck Jonathan today to run for a second term in office. This happened as the four presidential candidates of the All Progressives Congress, APC have been holding series of meetings to essentially reach consensus on who would eventually fly the flag of the party in the 2015 general elections. Meanwhile, reacting to automatic tickets given to 40 senators by President Goodluck Jonathan, members of the House of Representatives insisted yesterday that the same priviledge should be extended to them. Three top ranking lawmakers, who spoke to Vanguard under the condition of anonymity said the situation on ground in the House is far more precarious than that of senate. According to one of the lawmakers, who is from the South East zone, the two chambers have a lot of role to play to protect the President. He further explained that ”One thing is certain, if we members of the House of Reps are not given automatic tickets like our Senate counterparts, we will properly help the main opposition to rock the boat. “Some of us have been denied the opportunity of coming back by the ambition of our governors who now dictate our collective interest through the enormous powers that the President has given to them”. Another senior member of the House told Vanguard: ”By Tuesday this week, we will let the leadership of our party know our position. We will fight for automatic tickets with all methods except violence. Afterall what is sauce for the gander is sauce for the goose. The president should do the needful before we resume on December 3. “Our resumption will go a long way to determine how we will survive the present situation though we may not sit for more than six days but those six days will be explosive.” A lawmaker from the South South also spoke in the same vein saying: ”Except those of us that are confirmed to be traitors, the rest of us that had played a role in protecting the president should get automatic tickets. “The truth of the matter is that some of us are not dedicated

By Naomi Uzor

AGM: From left: Mr. Alfred Okoigun, GMD/CEO, ARCO group Plc; Chief Joseph Akpieyi, Chairman, Mr. Dennis Ayisire, Company secretary and Legal adviser and Mrs. Julie Okoigun, Director during the 32 Annual General Meeting of ARCO Group Plc, held at Orienta Hotel, Lagos on Friday. Photo by Joe Akintola, Photo editor. because when we invite them to our caucus meeting they always give excuses. “On the floor of the House, you don’t see them and in our meetings, they don’t show up and we know them too well”. On the President’s formal declaration today, security men, including anti-terrorism personnel had positioned themselves in all strategic positions in and around the Federal Capital Territory as at yesterday afternoon, frisking commuters and motorists. An insider told Vanguard that the declaration, which is slated for the Eagles Square in Abuja, would hold simultaneously in six cities of world. According to a presidency source, four of the cities where the events will be held are in the United States of America: Washington DC, San Francisco, Los Angeles and Houston while the other two are London (United Kingdom) and Johannesburg (South Africa). However, while those in London and Johannesburg, whose time zone is similar to Nigeria will join the event live, others in the U.S. with different time zone, will join later. Vanguard learnt that the declaration by Jonathan was delayed to ensure that there was no opposition to his candidature so as to give him the maximum support to defeat his opponents in the main election. A source said it was in a bid to appease all party members that Jonathan overruled the National Working Committee, NWC, of the Peoples Democratic Party, PDP to sell nomination forms to other presidential aspirants, even though he had been adopted as the sole candidate for the poll.

It was learnt that the last week’s late decision by the NWC to sell nomination forms to two of its presidential aspirants, son of Nigeria’s late prime minister, Alhaji Abubakar Tafawa Balewa, Dr Abdul Jelil Tafawa Balewa and Mrs Zainab Duke-Abiola, was as a result of the order handed over to them by the President. The Presidential source said: “President Jonathan summoned them to a meeting and directed that the two be allowed to purchase the forms and participate in the presidential primary at the party’s convention. “They had to reverse their decision as they were told that it was undemocratic to stop anybody from the process. No one should be denied the chance to participate in the election just because the President was endorsed by the party.” However, one of the aspirants, Dr Tafawa Balewa has withdrawn from the contest following intervention by Ijaw leader, Chief Edwin Clark.

Consensus candidacy: APC presidential aspirants hold meetings

Meanwhile, the four presidential aspirants of the All Progressives Congress, APC have been meeting in Abuja to reach a consensus on who would eventually fly the flag of the party in next year’s elections. The four aspirants jostling for the ticket of the party and have purchased their nomination forms for the contest included former Vice President, Atiku Abubakar and former Head of State, General Muhammadu Buhari. The two others were the incumbent Governor of Kano State, Engr. Rabiu Kwankwaso

and the Founder and Publisher of Leadership newspaper, Sam Nda-Isaiah who picked his own form last week. Governor Rochas Okorocha of Imo State, Vanguard gathered, is also interested in the office but was yet to pick his nomination form. An APC source in Abuja, who confided in Vanguard confirmed the meetings of the presidential aspirants. A highly placed officer of the party at its national secretariat in Abuja, said it was a normal democratic process for the four aspirants to agree among themselves on who would eventually become the party’s candidate. He however said the party has not, at the moment, set up any committee for the exercise that is scheduled to hold on December 8, 2014. “It is a normal political process. But as a party, we have not really set a committee. The aspirants themselves are working to get a consensus. Several interest groups around the aspirants are also exploring every opportunity for consensus. The source also dismissed the reports that governors on APC platform were asking for vice presidential plot, saying that what was important to the party was the emergence of marketable presidential products. He said: “I am not aware of the governors asking for the VP slot. At no forum have I heard that. I am a high ranking member of the party, if that happened, I should have known. It is a mere speculation. The important thing is to produce a candidate and the running mate that will win vote for us. Another party source said that “A lot of meetings are going on among the aspirants”.

BUJA—THE N i g e r i a n Association of Chambers of Commerce, Industry, Mines and Agriculture, NACCIMA, said the quality of institutional framework is critical to attracting Foreign Direct Investment (FDI) in all sectors, in a manner that would enable successful growth of an inclusive economy. Speaking at the opening ceremony of the 2014 Lagos International Trade Fair, the National President of NACCIMA, Alhaji Mohammed Abubakar, said the quality of infrastructure, education, effectiveness of technological development and the quality of institutional framework is critical to attracting Foreign Direct Investment in all sectors, in a manner that would enable successful growth of an inclusive economy. Moreover, he said, while the public sector performs its policy/ regulatory role in the pursuit of an inclusive economic growth, the private sector should be fully supported to harness trade potentials in order to effectively drive and make real the desired economic growth through i n v e s t m e n t , employment, business creativity, innovation/ knowledge transfer and other multiplier effects from their operations and activities. “Recent developments around the globe have also pointed out clearly that no economy can experience a sustainable level of real growth and national development without harnessing its trade potentials for successful transformation of the real sector, if the necessary economic reforms and incentives that would spur and position the economy in a better stead to attract and encourage both local and foreign investors in the country are not in place.''

8— Vanguard, MONDAY, NOVEMBER 10, 2014

‘Shekau' denies ceasefire deal with FG in new video By Ndahi Marama, with Agency reports

OKO Haram leader, Abubakar Shekau yesterday dismissed claims about ceasefire talks between his group and the government, even as Federal Government officials are now trading blames over the phantom ceasefire deal brokered by the President of Chad, Idriss Déby. A new Boko Haram video obtained by AFP yesterday showed militants on an armoured vehicle parading down a road in an unidentified town they apparently control and the group’s leader Abubakar Shekau preaching to the residents. Boko Haram had already renamed Gwoza in Borno as Darul Hikma or House of Wisdom and Mubi in Adamawa as Madinatul Islam which means City of Islam. In the 44-minute video, Shekau, who is pictured in close-up shots dismissed government claims about ceasefire talks and threatened to kill the man who presented himself as Boko Haram’s negotiator. The video, which was delivered through the same channels as past messages, shows armed men lined along a well-paved road, with three pick-up trucks, with heavy weapons also visible. Black crested flags associated with the Islamist group are also shown. In the video, Shekau restated a call he first made in August, saying, “We have indeed established an Islamic caliphate. To everyone living in Islamic Caliphate, we convey our greetings,” he said, specifically mentioning “brethren” in Afghanistan, Pakistan, Azerbaijan, Shishan (an Islamist term for Chechnya), Yemen, Somalia and “The caliphate in Iraq and Syria.” A graphic shown later includes a picture the IS group’s leader, Abu Bakr al-Baghdadi, as well as a portion of the message his group issued on July 1, proclaiming a caliphate in Iraq and Syria.

How Chadian President fooled Nigeria on phantom Boko Haram ceasefire Meanwhile, it was gathered yesterday how the Federal Government was taken for a ride by the president of Chad, Idriss Deby over the phantom ceasefire deal with Boko Haram A source, who was involved in the negotiations told online news medium, TheCable that the Federal Government was still uncertain if the dummy was deliberately sold to Nigeria by Déby or if the Chadian president himself was hoodwinked into believing it was genuine. Déby was said to be working for

Boko Haram as he has refused to communicate with Nigeria since the insurgents renewed their attacks. “Nigerian government officials no longer have access to Déby, who is now said to be sick. It appears he set us up to drop our guard and allow Boko Haram to gain ground,” the official said. A man claiming to be the general secretary of Boko Haram named Danladi Ahmadu, had told the Voice of America on October 17 that the government was negotiating with representatives of the group. Alex Badeh, an air chief marshal and chief of defence staff later addressed the media asking Nigerians soldiers to cease fire because of the

“agreement”, which he said included releasing the 219 Chibok schoolgirls in Boko Haram captivity. TheCable also reported how Déby put the deal together, revealing how he said Boko Haram got in touch with him, how he authenticated the message and how he got the Nigerian government involved in the negotiations. A journalist with links to the group had however described the claim as “shadows and bubbles” and warned Nigerians not to believe it. Not long after that, Boko Haram became more ferocious in their attacks, taking over more Nigerian towns, including the country home of Badeh. A government official, who spoke with TheCable pointed accusing fingers at Déby, accusing him of setting a trap for Nigeria. According to the source, “The period of the phantom

negotiations gave the terror group time to regroup, reinforce and restrategise, which is the intent of Déby for asking the Nigerian government to negotiate a ceasefire with Boko Haram. As soon as Nigeria began to make a lot of gains in the war against Boko Haram, owing to the efforts of the military and President Goodluck Jonathan, who has been discussing with regional leaders to halt the insurgency, and at a time the commanders of the sect were being rounded up, that was when the Chadian president approached the Nigerian government asking that it mediates between the parties in the conflict. “The discussions between the government and the Chadian president on Boko Haram started in September. However, Déby said he was already talking with Boko Haram.

THANKSGIVING SERVICE: Wife of President Goodluck Jonathan, Mrs Patience Jonathan discussing with the Deputy President of the Senate, Senator Ike Ekweremadu during the 2014 Annual Harvest and Thanksgiving Service of the Adoration Catholic Ministry, Enugu yesterday.

Nigeria attracted $59bn investments in three years — AGANGA

BUJA—NIGERIA attracted $59bn pipeline local and foreign direct investments into the different sectors of the economy within three years, the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, said weekend. He noted that the farreaching industrial policies initiated by the Ministry of Industry, Trade and Investment, in line with the Transformation Agenda of President Goodluck Jonathan, had helped to make the country a destination of choice for investment and also diversify the nation’s economic base. Aganga spoke during the 4th Annual Seminar for Industry, Trade and Investment

Correspondents and Business Editors, in Abuja. He said the report of the United Nations Conference on Trade and Development had ranked Nigeria the number one destination for investment for two consecutive years, with the country maintaining its top three position last year. He said, “If you look at pipeline investments that have come into the country within the last three years, we have a minimum of $59 billion coming into the different sectors of the economy over the next five to eight years. This does not include the investments that are coming into the power sector. If you look at the value chain, we have about $60billion investments going into the power sector. “Out of the $59 billion that I

talked about, about $12bn is going into integrated petrochemical plant. This means that if that petrochemical plant comes on stream as planned by 2018, there will be no need for the country to import refined petroleum products, and that will be a big boost towards the economic diversification of the country.” He added, “Also, a lot of investments are going into fertilizer and ethanol plants, agribusiness such as sugarcane to sugar, rice mills and cement, among others. “We have new investments going into the automobile sector due to the implementation of the Nigerian Automotive Industry Development Plan, which is a major component of the Nigeria Industrial Revolution Plan.”

“The government was trying to verify the authenticity of Boko Haram’s representatives in the supposed negotiations, but Déby asked the Nigerian government to take a chance that he had done the verification already. He affirmed that Boko Haram’s representatives were truly standing in for the group in the negotiations.” It was at this stage the government nominated the principal secretary to the president, Awwal Tukur, to be part of the negotiations in N’Djamena, the capital of Chad. “Tukur was the one spearheading the dialogue with Boko Haram on behalf of the Nigerian government. He had the first contact with group. It was still in the middle of the supposed negotiations that Danladi Ahmadu announced on Voice of America that the group had ceased fire. Following the announcement of ceasefire by the group, the Nigerian government equally announced a ceasefire on October 17 for the supposed negotiations to continue. “A Nigerian delegation left for Chad on October 21 for talks with Boko Haram, but the Chadian president became evasive. The Nigerian delegation was told that Déby was sick and that the meeting be rescheduled for October 23. “However, on that date, the delegation was told that the Chadian president was still sick after waiting for six hours. The delegation made visits to Chad a number of times, but met a brickwall. “As Boko Haram’s resumed attacks grew in intensity, the Nigerian government became worried. Many attempts were made to inquire from the Chadian president, who was supposed to be mediating between the Nigerian government and Boko Haram, but the attempts were all futile. “France was privy to the botched negotiations, but said nothing just like the Chadian government. “It became clear to the Nigerian government that Déby was working for Boko Haram. The government of Chad has not said a word to the Nigerian government since Boko Haram’s resumed onslaughts. It has simply refused to make any comment or communicate with the Nigerian government. “The Nigerian government has also ceased to speak with the Chadian government on the matter since it is now clear that Chad is working with Boko Haram.”

Monarch of captured town appeals to Jonathan Meanwhile, the emir of Gwoza in Borno State, Alhaji Mohammed Timta has urged President Goodluck Jonathan to redeem his pledge on the recapture of his chiefdom being occupied by Boko Haram insurgents for over three months.

Vanguard, MONDAY, NOVEMBER 10, 2014—9

COSEG cautions FG on Sure-P, FERMA By Ikenna Asomba

YORUBA group, Coalition of Oodua Self Determination Group, COSEG, has accused the Federal Government of planning to disrupt the peace and tranquility in Lagos State. In a statement by its chairman and Secretary, Dayo Ogunlana and Razaq Olokoba respectively, COSEG faulted the recent attempt by FERMA federal task force to impose the operations of recruited Sure P and Ferma on Lagos roads. The group wondered why SURE-P and FERMA task force are on Lagos roads only arguing that “only LASTMA, FRSC and Police are backed by law on traffic and vehicular movement.

Amuta launches new book

NEW book by me dia icon and leading Nigerian newspaper columnist and writer, Dr. Chidi Amuta, will go public on Tuesday, November 18, at a book signature event holding at the Oduduwa Hall, Southern Sun Hotel, Ikoyi. The book- WRITING THE WRONG- is an over 1,000-page compendium of the author’s newspaper columns written and published over the last three decades in various newspapers and magazines in Nigeria and around the world. The author describes the book as ‘a word map of the roads which I have travelled in the company of friends and associates… along the trajectory of our national history, a sort of professional autobiography.’

Peace meeting

FORUM of Rivers State elders, leaders and stakeholders, weekend, welcomed the meeting at the Royal House of Grace Church, PortHarcourt, between one of the governorship aspirants and a former Minister of State for Education, Nyesom Wike, and elder statesman and pioneer leader, founder of the Peoples Democratic Party, PDP, in Rivers State, Alabo T. O. Graham-Douglas. The former minister was said to have expressed regrets for any misunderstanding between them and apologized for any wrong misrepresentations.

APC gov aspirant arrested over PDP agent's killing

N electoral agent of the People’s Democratic Party, PDP, was allegedly shot dead at Ibeju Lekki area of Lagos, yesterday, during the ongoing distribution of Permanent Voters’ Card, PVC, by the Independent National Electoral Commission, INEC. The deceased, identified as

Sikiru Ogboye, was allegedly shot dead at Oriledu, Ibeju Lekki, by suspected thugs while he was monitoring the PVC distribution. Vanguard learnt that the incident was reported at Ajiwe Police Station, Ajah, following which the culprits were reportedly arrested. A chieftain of PDP in the state,

Chief Bode Oyedele, condemned the killing and blamed the All Progressives Congress, APC, for the incident. It was learned that a governorship aspirant on the platform of the APC, (name withheld) was being questioned by the police in connection with the killing.

Ambode meets Lagos lawmakers, starts LGs tour

OVERNORSHIP aspirant in Lagos State on the platform of All Progressive Congress, Mr. Akinwumi Ambode, weekend, hosted members of the Lagos House of Assembly to a dinner. The private dinner was held in Ikeja, Lagos. Apart from the attendance recorded at the dinner and strategic consultation meeting, the legislators also greeted Ambode’s passionate speech with a standing ovation. 36 out of 40 members of the House attended the event, a development that further affirms Ambode’s popularity and acceptability across board. At the dinner, Ambode

presented himself as an informed, articulate but humble candidate who does not only profess respect for the legislative arm of government but one who also submits himself totally to the authority and guidance of the party. He told the legislators that he was desirous of building on the achievements of Asiwaju Bola Tinubu and Governor Babatunde Fashola, SAN, both of whom he worked with as Accountant General and Permanent Secretary in the state. He also highlighted his core programmes under the

acronym LAGOS - Leadership, Accountability, Good Governance, Opportunities and Service and promised not to let the state down if he secures the party’s nod at the primaries on December 2. Meanwhile, Ambode whomade his declaration at the Onikan Stadium last month will commence a tour of the 20 local government areas in Lagos from today. A statement from his media team said the tour of the LGs was in furtherance of Ambode’s respect for party institutions and belief in reaching out to all and sundry.

Lagos State Police Commissioner, Mr. Kayode Aderanti, confirmed last night that the APC governorship aspirant was being questioned over the incident, saying a pump action gun was found in his car. He said: “It is true; I warned earlier that anybody, no matter how lowly or highly placed, found with illegally acquired weapon must answer for it. The man needs to tell us what he was doing with a pump action found in his car and if his explanations are not satisfactory, we’ll take him to court.” Reacting to the development, Jimi Agbaje Campaign Organisation said in a statement: “An electoral agent of the People’s Democratic Party, PDP, in Lagos State has been shot dead, Sunday afternoon, while monitoring the ongoing distribution of Permanent Voters’ Cards (PVC). Mr. Sikiru Ogboye, a PDP Agent, was shot dead, allegedly on the orders of a chieftain of the All People’s Congress (APC) by suspected thugs, while he monitored the PVC Distribution exercise.

Fashola sets up new c'ttee on striking teachers claims By Monsuru Olowoopejo

O V E R N O R Babatunde Fashola of Lagos State has yielded to the demands of the striking Adeniran Ogunsanya College of Education, Ijanikin, by setting up another ad-hoc committee to resolve the claims raised by staff of the institution. The aggrieved staff had on October 27, 2014 protested to the Lagos House, office of Governor Babatunde Fashola in Alausa, Ikeja. The reasons for their action was that the credibility of the ad-hoc committee, chaired by the Special Adviser to the Governor on Education, Otunba Fatai Olukoga, to address the issues affecting institution could not be trusted. They added that the antecedents of the chairman in previous committees on activities affecting the institution, has not yield any result. The Olukoga-led committee was set up by the Governor to look into the demands of the aggrieved staff with a view to resolving it and facilitate the quick reopening of the institution which was shut on October 13, this year.

L-R: Director-General, Standards Organisation of Nigeria, Dr. Joseph Odumodu; DirectorGeneral, Consumer Protection Council, Mrs. Dupe Atoki; Minister of Industry, Trade and Investment, Olusegun Aganga; Permanent Secretary, Ambassador Abdulkadir Musa; and Managing Director, Bank of Industry, Mr. Rasheed Olaoluwa, at the Ministry's 4th Annual Workshop for Industry, Trade and Investment Correspondents and Editors, in Abuja

Lagos plans mass protest over voter's card distribution Continues from page 5 million registrants in the state. But when that data was subjected to the Automated Fingerprints Identification System (AFIS) software, 82,892 multiple registrations were eliminated. Also, there was the technical challenge of loss of data and incomplete data affecting about one million records – mostly in 1,792 polling units that were identified and made public before the present exercise. That was why the Post-Business Rule figure for Lagos State (on the basis of which PVCs were printed) came down to about 4.6 million registrants. "For avoidance of doubt, a pre-acknowledged data loss and incomplete data of some registrants is not a ‘conspiracy’ issue as has been alleged by some notable persons. It is a

back-end technical challenge that is far from sealing the fate of affected persons, and for which INEC has already put in place measures to ensure redress. The Commission has made provision for eligible persons for whom PVCs could not be printed due to data loss or defective data to come out from Wednesday, November 12th to Monday, November 17th, 2014 for their data to be recaptured during the CVR. In special consideration for the 1,792 polling units in Lagos State where the challenge of data loss is much pronounced, the CVR will take place at the polling unit level, as against the Registration Area (RA) level in other parts of the state."

Exercise should be extended — Residents

Meanwhile, most of the residents who were yet to collect their PVCs have called for ex-

tension of the exercise for at least five more days to ensure that all eligible voters got their cards. Mr. Lekan Oshinade, who has collected his card narrated how he suffered to get the PVC: ‘’There was so much shoving and tossing around. The whole cards were not properly sorted. At least, the cards should have been arranged alphabetically for easy identification. A lot of people could not locate their cards. Without additional days the whole process will be a failure.” Mr Wole Oderinde, who is yet to collect his PVC in one of the polling centres in Ikeja told Vanguard: “I am yet to collect the PVC. When I got there, the INEC official could not find my PVC. I don’t think the three days will be enough to cover all the people, there is need for extension.”

10— Vanguard, MONDAY, NOVEMBER 10, 2014

PVC: Amosun, lawmaker hail INEC over extension By Daud Olatunji

BEOKUTA—Ogun State governor, Senator Ibikunle Amosun and a member of House of Representatives representing Ifo/Ewekoro Federal constituency, Adekunle Adeyemi, have hailed the extension of the distribution of Permanent Voters Cards exercise by the Independent National Electoral Commission. The INEC had announced the extension of the exercise by one day following the complaints of irregularities and poor handling of the exercise in the state. The Resident Electoral Commissioner in the state, Sam Olumekun made the announcement at a press statement yesterday, saying, the

exercise would end on Monday instead of Sunday. Reacting to the extension, Amosun in a state broadcast yesterday, commended the INEC for acceding to the government’s request for extension. The member of House of Representatives who also commended the INEC for extending the days of the exercise, urged the people to be patient with the commission. Adeyemi who stated this shortly after he collected his PVC in Ifo, yesterday, expressed satisfaction over the exercise, saying that the INEC officials must be commended. Meanwhile, Amosun in his state broadcast appealed to “all the residents of Ogun State to

utilize the opportunity provided by the extra day granted by INEC."He added, "We should all go to our respective polling units to collect our PVCs. The commission has assured that many more cards are now available for collection. INEC has also assured us that those whose names are on the register but whose cards are not available now will be able to collect at a later date, from INEC offices in the 20 Local Government Areas. “For those whose names are not on the displayed voters’ register and those who could not register in the last registration exercise, INEC has assured that the Continuous Voters’ Registration (CVR) exercise will take place between Wednesday 12 November and Monday 17,

2015: Obadara recants over Ogun SDP endorsement

BEOKUTA—The Senator representing Ogun Central Senatorial District, Gbenga Obadara, yesterday, made a u-turn over the claim that he had been endorsed by the Social Democratic Party, SDP, in the state as the party's governorship candidate. Obadara who currently represents his district in the Senate on the platform of the All Progressives Congress, APC, denied saying he had been endorsed by the SDP in the state. The senator who was reacting to media reports that the Ogun State chapter of the SDP had endorsed him as its candidate for the 2015 election, claimed that he

Mimiko: Crisis’ll be resolved before PDP primaries—Kuku By Dayo Johnson

Dr Mrs Ngozi Olejeme with the National Organizing secretary of the Peoples Democratic Party (PDP) Alhaji Abubakar. Mustapha during the submission of her Governorship Form at the PDP headquarters in Abuja.

By Daud Olatunji

November 2014 and will provide opportunity for them to register and obtain their voters’ cards before the election. “My dear good people of Ogun State, let me stress, for the umpteenth time, the significance of obtaining your Permanent Voters’ Cards as it is only when you have your voter’s card that you can vote in the forth-coming elections. Once again, I thank you all for your patience and understanding, while I enjoin the good people of Ogun State to go and collect your permanent voters’ cards. I thank you all. May God bless Ogun.

said he is “eminently qualified” to contest the governorship of the State. Obadara along with the other federal lawmakers loyal to the former governor Olusegun Osoba have been at loggerheads with Governor Ibikunle Amosun over the control of the APC machinery in the state. It was gathered that three APC senators and six members of the House of Representatives from the state along with other Osoba loyalists had as a result of the intra-party crisis defected to the SDP. They were, however, yet to officially do so. The senator who is also the chairman of

the Senate Committee on Privatization, however, stressed that if he eventually emerged after the primary election as the SDP standard-bearer, he would be glad to take on the incumbent Governor Amosun. He said: “The question was asked where I am, I said I am in SDP. I believe I have the right of association and I said though not yet formalized, but we are in the process of doing that. You have been seeing us sensitizing our people about the permanent voters’ card."

KURE— THE Special Adviser to the president on Niger Delta and Chairman of Amnesty, Kingsley Kuku, weekend, assured that the crisis generated by the defection of Governor Olusegun Mimiko would be resolved before the commencement of the primaries of the party. He equally defended the result of the negotiation entered with the state governor that produced a sharing formula for elective posts in the state. Kuku said this to newsmen after the local government congress of the party held at Igbekebo, Ese-Odo local government area of the state. Hee said the leaders that accepted the outcome of the negotiation did so in the interest of the party. According to him, the leaders, himself inclusive, accepted the proposal of the governor as it was an improvement on what the party had during the last election. The presidential aide, who was elected to represent the local government at the national convention of the party, said rather than castigating those that brokered the deal, they should be lauded for their efforts.

Atiku flays Jonathan’s policies By Gbenga Ariyibi

DO Ekiti – THE former VicePresident, Alhaji Atiku Abubakar, has condemned the Dr Goodluck Jonathan-led federal government for implementing policies that do no not have direct benefit on the average Nigerians and his alleged inability to bail the country out of the menace of Boko Haram insurgents Abubakar who is a presidential aspirant under the platform of All Progressive Congress, APC, noted that most of the policies being implemented by Jonathan were bringing untold hardship on the people He said Nigeria under the President Jonathan was seriously sick and that the country needed a surgical operation. Abubakar who was in Ire Ekiti, weekend, during the commissioning of the multimillion naira 32-bed hospital built by Hon Bimbo Daramola, a member representing Oye, Ikole Federal Constituency in the House of Representatives, urged Nigerians to ensure a change in the leadership of the country by voting Peoples Democratic Party, PDP, out at the in the next year’s general election He said, “Certainly, Nigeria is not healthy. When you look at the economy and insecurity in the country, you will know that certainly, Nigeria is not healthy. The only thing that can salvage Nigeria’s situation is to seize the opportunity to bring about a change by voting in APC.” Abubakar further described the calls for the removal of the Speaker, House of Representatives, Alhaji Aminu Tambuwal from his position as “irresponsible”

Vanguard, MONDAY, NOVEMBER 10, 2014—11

Oshiomhole, Anenih, others grace Olu of Warri's son’s wedding By Simon Ebegbulem

ceremony was like a home coming for the Itsekiri palace chiefs and political leaders who stormed Benin City, dressed in their traditional attire, as their Bini counterparts. Dignitaries at the occasion included Governor Adams Oshiomhole of Edo State; National Chairman of APC, Chief John Odigie-Oyegun; Chairman Board of Trustees of PDP, Chief Tony Anenih; Minister of Works, Architect Mike Onolemenmen; Special Adviser to President Goodluck Jonathan on Inter-party Affairs, Senator Ben Obi; Publisher of Vanguard Newspapers, Mr. Sam Amuka;

former Chief Whip of the Senate, Senator Rowland Owie and wife; President of the Nigerian Bar Association, NBA, Austin Alegbe and Chairman of Sky Bank, Dr. Tunde Ayeni. Others were President of the Christian Association of Nigeria, CAN, Pastor Ayo Oritsejiafor; Speaker of Edo State House of Assembly, Uyi Igbe; Chairman of APC in Edo State, Anslem Ojezua; Chairman of PDP in Edo State, Chief Dan Orbih; Chief Tom Ikimi; Mr. Chibudom Nwuche, former Deputy Speaker House of Representatives; Chief Ifeanyi Uba; Julie Coker, Solomon

Edebiri, Senator Daisy Danjuma and former Deputy governor of Edo State, Mr. Lucky Imasuen. Also at the wedding were Minority Whip of the House of Representatives, Mr. Samson Osagie; Pastor Osagie Ize-Iyamu; former Speaker of Delta State House of Assembly, Mr. Victor Ochei; Chief Ayiri Emani, Chief Tunde Smooth, Gen.Charles Airiavbere,(rtd); former First Lady of Edo State, Mrs. Eki Igbinedion; Endurance Odubu wife of Edo State Deputy Governor; Mr. West Ehigie Idahosa, members of Benin Traditional Council and many others.

ENIN—IT was a gathering of who is who in Nigeria, weekend, when the daughter of Benin-born billionaire, Ivie Uhunoma Okunbor, and son of the Olu of Warri, Utieyinoritsetsola Ayonmigbesimi Emiko, concluded their traditional wedding ceremony in the ancient city of Benin, Edo State. Over ten private jets conveying dignitaries from different parts of the country for the colourful ceremony landed at Benin Airport between Friday and Saturday. Apart from solidifying the relationship between both families, the occasion brought warring leaders of All Progressives Congress, APC, and Peoples Democratic Party, PDP, in the state together. The leaders of both parties buried their political differences to honour the father of the bride, Captain Hosa Okunbor, who is well known for his philanthropic gestures in the state. Remarkably also, the marriage further solidified the historical relationship between the Bini and the Itsekiri. As it seems, Prince Emiko only came home to take one of his kindred as wife. Recall that Prince Iginuwa, heir apparent to the Bini throne in the 14th century, left Benin and founded the Warri Kingdom. Today, the Olu of Warri, a TRADITIONAL MARRIAGE: Ivie Uhunoma Okunbo (bride) and her groom, descendant of Prince Iginuwa, Utieyinoritsetsola Ayonmigbesimi Emiko, during their traditional marriage in Benin. now sits on the throne. It was not surprising that the

DSIEC fixes Wednesday for fresh LG polls in parts of Delta By Festus Ahon

SABA—DELTA State Independent Electoral Commission, DSIEC, has fixed Wednesday for fresh and runoff elections in Ndokwa East, Ethiope East, Okpe and Udu Local Government Areas, respectively. The commission, in a statement by its chairman, Mr. Moses Ogbe, said: “Delta State local government elections held on October 25, 2014 could not be conducted or concluded in a few areas. Delta State Electoral Commission, DSIEC, hereby, informs the political parties concerned and their candidates, as well as the general public that the

elections will take place in the affected areas on November 12, 2014 as follows: Ndokwa East Local Government Area: fresh elections for chairmanship and councillorship positions in all the 20 wards.

“Ethiope East Local Government Area: wards 1,2,3,4,5,14,17,18, and 19. Okpe Local Government Area: wards 4,7 and 12 and Udu Local Government Area: all the units in wards 15 and two units in ward 17.

"The candidates who were earlier presented will contest the elections except in ward 4 in Okpe Local Government Area where substitution for a candidate who died a few days before the elections will be made.”

Delta Speaker attributes success to Uduaghan's three-point agenda

PEAKER of Delta State House of Assembly, Right Hon. Peter Onwusanya, weekend, said keying into the three-point agenda of Governor Emmanuel Uduaghan’s administration, anchored on peace and security, human capital development and infrastructure development, contributed to the successes recorded during his first tenure as a lawmaker.

He spoke when he formally declared to contest the Oshimili South constituency seat of Delta State House of Assembly on the platform of Peoples Democratic Party, PDP. He said: “My representation was keyed into the governor’s three-point agenda and that is why we recorded lots of achievements in areas of peace and security, roads construction, school buildings, employment

and empowerment. Farmers, traders and traditional rulers also benefitted from our programmes.” Onwusanya asserted that Oshimili South Local Government remained the most peaceful area in the state because he ensured that the local vigilance group and police were encouraged to effectively police of the area.

Delta 2015: Jibunoh allays Urhobo fears By Emma Amaize

S A B A — A prominent leader from Delta North senatorial district, Delta State, Chief Newton Jibunoh, weekend allayed the fears of the Urhobo Progress Union, UPU, that an Anioma governor would relegate Urhobo ethnic nationality in the scheme of things in the state. Speaking in Asaba, Jibunoh, who accepted that Anioma people had to reach out to the Urhobo to negotiate an article of faith, insisted that to ensure peace and stability in the state, there was need for the Urhobo to allow power shift to Delta North. He said: “The obvious thing is that we in Delta North have to work a little harder to remove the fear they may have about a governor from the North senatorial district. If we (North) accepted governors, over the years from the Central and South districts, there is no reason why they should refuse a governor from the North."

Tayo Akpata for burial

HE remains of elder statesman, astute administrator and nationalist, Chief Tayo Akpata, who died in Lagos, October 13, 2014, will be buried on November 21, 2014 in Benin City, Edo State. A statement by the family, weekend, said the funeral arrangements will commence November 14th with a memorial dinner and concert at 5pm to celebrate Chief Akpata’s raison d’etre (his life and times.) The screening of a documentary film titled A sage goes home, will also hold the same evening at the Landmark Village in Oniru, Victoria Island, Lagos. On November 20, a commendation service will hold at Ikoyi Baptist Church at, after which the body leaves for Benin. On Friday, November 21, 2014, the funeral service will hold at the Central Baptist Church, Kings Square, Benin City. A reception follows immediately at Edo Hotel in G.R.A., Benin City.

12 — Vanguard, MONDAY, NOVEMBER 10, 2014

PDP governorship aspirants gang up against Obuh •say he is not a PDP member By Egufe Yafugborhi

ARRI—PEOPLES Democratic Party, PDP, governorship aspirants in Delta State for the 2015 governorship election, after a meeting, weekend, in Warri, vowed to resist alleged planned imposition of a candidate on the party ahead of the primaries. Aspirants at the meeting who first met at a hotel in Effurun and later shifted to the Warri home of Ijaw Leader, Chief Edwin Clark, were Chief Kenneth Gbagi, former Delta Assembly Speaker, Victor Ochei, Senator Ifeanyi Okowa, member of the House of the Representatives, Ndudi Elumenu, Sylvester Monye, among others. Following consultation with Chief Clark which lasted till Saturday night, Chief Gbagi, who briefed the press on the outcome said: “Those of us who bought forms and have submitted, except Tony Obuh, have all met today and we have come to brief our father, the political leader of our state and the South-South, Chief Clark. We are saying we will not allow any imposition of a candi-

date on PDP. " Suffice it to say the issue is not about Obuh, but we are also resolutely saying Obuh is not a card carrying member of PDP. "It will be an illegality if Obuh says he is a member because he resigned only two and a half

months ago and as such we insist, as a people, that he is not a member and we do not agree to anything called imposition of any candidate in the PDP for governorship.” He said because of President Jonathan’s declaration on Tues-

day and based on the advice from Chief Clark, the protesting aspirants had shifted the meeting to “Abuja where we are going to issue a proper communiqué after a press conference on Tuesday.”

Nigeria loses N35bn in one week as agents shut down major seaport By Godwin Oritse

HE nation’s economy lost at least N35 billion in the last seven days as clearing agents blockaded the Lagos Port Complex, LPC, Apapa, over disagreement in charges collected by terminal operators. While the Apapa Area Command of the Nigeria Customs Service, NCS, has lost an average of N1.4 billion daily as a result of the agents’ action; shipping lines, manufacturing companies, haulage/trucking firms, terminal operators, Nigerian Ports Authority, importers, clearing agents and other agencies of government

reportedly lost N3.6 billion amounting to an average daily loss of N5 billion. The blockade, which started on Monday, November 3, 2014, has continued till today without any sign of resolution. Area Project Manager, Apapa Area Command of the NCS, Deputy Comptroller Yusuf Malanta, explained that even while some documents could be processed online, containers could not exit the port because they could not be examined by customs officers. While confirming the huge revenue loss by the command, Malanta said the strike could also induce port congestion. Recall that

the Nigerian Shippers’ Council, NSC, on Wednesday October 29, 2009 announced the reversal of storage charges at the ports which was in force as at May 1, 2009. NSC also ordered an increase in the free storage period at the port from three to seven days. It equally directed shipping companies to reduce their shipping line agency charges from N26,500 to N23,850 per TEU (20-foot containers) and from N48,000 to N40,000 per FEU (40foot containers). Also, it directed shipping agencies to refund container deposits to importers and agents within 10 working days after the return of the empty containers.

Okorocha advocates power devolution By Chidi Nkwopara, Owerri

OVERNOR Rochas Okorocha of Imo State, weekend, advocated for what he termed “systematic devolution of power in Nigeria where the enormous power at the centre is decentralized to the state and local governments.” Okorocha, who spoke in Owerri, while addressing board members of the Nigerian Media Merit Award, NMMA, contended that it would help to create sustainable economic development at the grassroots. According to him, devolution of power was the solution to the alarming poverty in Nigeria, noting that the country’s political authority was highly concentrated on an individual solely determining the survival or death of millions of Nigerians.

Vanguard, MONDAY, NOVEMBER 10, 2014 — 13

C M Y K

14 — Vanguard, MONDAY, NOVEMBER 10, 2014

OLU OF WARRI'S SON'S TRADITIONAL MARRIAGE IN BENIN

From left, Warri chiefs: Chief P.D.Yalaju JP, Chief E.F.Egigi, and Chief Yemi Oritsejafor.

Governor Adams Oshiomhole chatting with Major. Gen. Charles Airhiavbere (rtd), at the event.

The couple flanked by the Olu's chiefs.

From left, Warri chiefs: Chief Otimwyin Adams, Chief Kofi Kartey, and Chief Emma Tetsola.

Sen. Ben Obi (left) and Hon. Bright Igbinedion

From left, Olori, Olu of Warri’s wife; Dr. Mrs. Anigala, and Hon. Irene Otha.

Vanguard, MONDAY, NOVEMBER 10, 2014â&#x20AC;&#x201D;15

Justice Andrew Obaseki (rtd) bags HLF Award

From left, Professor Grace Alele-Williams, Patricia Otuedon-Arawore, executive secretary, Hallmarks of Labour Foundation, HLF; Hon. Justice Andrew Obaseki, Chief Gaius Obaseki, former NNPC Managing Director (rtd), after HLF's life-time achievements award for exemplary/courageous service to the advancement of Nigeria's legal system, especially in the area of adjudication. The award was presented to Hon. Justice Andrew Obaseki (rtd), CFR, in Benin City. Photos: Barnabas Uzosike

From left, Professor Grace Alele -Williams, former Vice Chancellor, University of Benin, and Chief Yuki Obaseki.

From left, Professor Grace Alele-Williams, chatting with Justice Joseph Olubo (rtd), former President, Customary Court of Appeal, and Chief Gaius Obaseki.

From left, Mr. Sam Amuka, Publisher, Vanguard Newspapers; Professor Grace Alele -Williams; Patricia Otuedon-Arawore, Hon. Justice Andrew Obaseki, and Chief Gaius Obaseki.

16 — Vanguard, MONDAY, NOVEMBER 10, 2014 THE increasing cruelties our society harbours have moved to insistent assaults on children by guardians, who descend on their wards with the most puerile excuses.Gory media images of children dismembered, beaten to death, with shrivelled fingers, or reduced to skeletons are becoming common. In all these instances, the criminals find excuses for abusing the children, perhaps knowing they would get away with their dastardly acts. Why would a society erect such wickedness for its young ones, the most vulnerable, and expect to make progress? Why are these acts continuing? How would these acts, which portray us as primitive, be stopped? The foundation of these perfidies is the social dynamics of a society that seeks solutions to mere economic and social challenges in spiritualists and shrines. Without lifting a finger, most people expect they would find the riches that would catapult them out of their economic woes. Others want to attain political power or improved social standing through cultic powers. Many of the assaults on children cannot be explained by the presumed anger

A Society That Devours Its Children of the culprits or the frequent excuse of not knowing “ what came over me”. Whatever the reasons, our society must stand up firmly against the cruelties that are defining it. The stories are endless, and the extent of the injuries inflicted on children, sometimes resulting in deaths, paints a picture of utter madness. Men and women are killing the young and getting away with it. Sometimes there are debates whether their excuses for murder should be accepted. We have to enforce the law. Unfortunately, some churches prescribe

these punishments for children who they identify as witches. Some parents have no qualms punishing their children to death in line with prophecies. Some of the dead are children recruited as house helps, or whose parents sent to relations to assist with their upbringing. We think that these incidents are continuing because law enforcement is weak. Offenders are getting away with murder under spurious explanations. The few cases that make it to court are at the instance of civil society groups, which have the heart, but hardly the war chest for the lengthy legal tangles these matters involve. Society’s insensitivity to the plight of the victims, some of whose minds have been shattered from their tortures, is gradually defining our lives. These stories no longer shock. Is our society exalting brutality to one of its ethos? Section 34 (1 a) of the Constitution states, “Every individual is entitled to respect for the dignity of his person, and accordingly, no person shall be subject to torture or to inhuman or degrading treatment”. We cannot build a society on cruelty – it is illegal.

OPINION By Abubakar Galadima

O Chief Tony Anenih, chairman of the Peoples Democratic Party, PDP, Board of Trustees, double-speak is not a virtue. Over the years, he has maintained the principled position that on issues of party loyalty and discipline, a leader does not need to prevaricate. It is one principle that has defined his politics and earned him acclaim even from rivals. It was that principle he brought to bear in dealing with the perceived vice presidential ambition of Ibrahim Shehu Shema, the governor of Katsina State- an issue which has brought so much disquiet to the leadership of the PDP for the better part of this year. Among top Northerners in the party, the issue of displacing the sitting Vice President, Namadi Sambo and installing Governor Shema in his place, was generating unnecessary bad blood. While some openly declared for Shema, a larger number insisted that incumbent Vice President Sambo has not done anything to warrant replacement. Though that aspiration existed in the realm of speculation as Shema refrained from making open declarations about it, it was no less potent because Shema did not find it fit to dispel the rumour outright. Indeed his actions tended to reinforce that perception that he was nursing the ambition of becoming the vice president. From little speculations, the matter gained a divisive momentum among a certain section of the North. Coming shortly before major national elections in

Final blow to Shema's VP ambition which the President is standing for reelection, it was an issue with which Anenih and the PDP hierarchy were not comfortable. So, when the issue reared its head in Katsina during a stakeholders and reconciliation meeting of the PDP presided over by Anenih in his capacity as chairman of the North West Integration Committee, he had reportedly told Governor Shema that his bid to become vice president was not feasible. The elder statesman, according to available information, was apparently annoyed that instead of addressing issues of reconciliation, the top party leaders in attendance at the meeting had busied themselves singing praises of Shema and arguing that he should impress it upon President Jonathan to replace Vice President Sambo with Governor Shema. Feelers from the meeting indicated that after listening to submissions from most of the stakeholders who requested him to prevail on Jonathan to replace Sambo with Shema, he was blunt in telling the sycophants that President Jonathan has made up his mind to run with Sambo in 2015. He categorically stated that implicit in the sole candidacy ticket offered Jonathan by the party is the VP ticket for Sambo. Ever since that blunt declaration by Anenih, it is interesting to see how certain individuals have mounted a campaign to misinform the public and create the impression that Anenih was

high-handed in dealing with Shema on the issue. The orchestrated media campaign to impugn Anenih’s esteemed character is an unnecessary viciousness and the good thing is that a vast majority of members of the public who are interested in the issue could read in between the lines. What really does Shema want? Although he has severally claimed that he was never after Sambo’s job, his actions all through the current year have been most divisive, posing unnecessary hurdles for a party in need of cohesion. At the time this speculation was gaining ground, Shema was also revving up publicity around his person and his administration. It was easy to interpret the unusual increase in media attention as a subtle campaign. Suddenly, his performance as Katsina governor became a topic of discussion in the media just as his jingles and advertisements of his administration’s projects became more audible. If anyone still doubted his intentions, the carnival he staged last September to host the Nigerian editors’ conference was a clear indication. The argument by supposed Shema loyalists that VP Sambo would not be able to rally the North or deliver the required votes from the North for President Jonathan in 2015, was an unnecessary distraction. Not only is that statement not supported by reality on ground, it tends to create divisions in the

party and betrays desperation on the Governor’s part. But as a newspaper columnist recently argued, there is nothing really wrong in Shema aspiring to that position since people should be allowed to hold their convictions if only the constitutional provision of the right to aspire under the principles of franchise is to be respected. The snag was in the tactic adopted for the aspiration and the bad blood it was creating in the Northern wing of the party. Considering the deeper implications of a divided PDP in the North going into the 2015 elections, the party could no longer condone such insensitivity. It is an issue that needed the tough-talk of Anenih to finally bring to rest; and he did just that at the Katsina meeting, ending the shenanigans over whether or not Sambo would be retained as Jonathan’s running mate in the 2015 presidential election. For him, Sambo is it! Once again, the greater interest of the party has prevailed over personal interest of one person; and to the chagrin of some newspaper columnists and opposition elements, the PDP is the better for it.

*Mr. Galadima, a political analyst, wrote from Kano, Kano State.

Volatility ahead /P18

NOVEMBER 10, 2014 By ROSEMARY ONUOHA

f the 59 insurance companies operating in Nigeria, only about a dozen are complying with laid down rules and regulations that have excluded them from being sanctioned by the National Insurance Commission, NAICOM. The others are enmeshed in one form of unprofessional conduct or irregularity which continues to attract one form of sanction, fines or even penalty. However, the National Insurance Commission, NAICOM, the regulatory body for insurance practice in the country has emphasised that it will be very firm in enforcing compliance with laid down rules and regulations in order to instil discipline in the sector. Insurance operators are expected to carry out their businesses by abiding by some operational guidelines, principles and regulatory requirements such as compliance to risk-based supervision; transition to International Financial Reporting Standard, IFRS; solvency adequacy; early submission of financial results, and so on. However, only a handful is complying with all these. For example, analysis of data of companies that have submitted their 2014 third quarter result to NAICOM show that only 15 have done so out of the 59 in the industry. These companies are Arm (Crystalife) Assurance; Cornerstone Insurance; Equity Assurance; FBN Life; Fin Insurance; Guinea Insurance; KBL (PHB) Insurance; Nigerian Agricultural Insurance Corporation; Old Mutual (Oceanic) Insurance; Old Mutual Life; Standard Alliance Life; UBA Metropolitan Life; Union Assurance; Wapic Insurance; and Wapic Life. Lamenting this poor showing, Commissioner for Insurance, Mr. Fola Daniel said that some insurance companies do not submit annual accounts before Christmas. Daniel said: “Whereas the Insurance Act 2003 provides for submission of annual accounts no later than 30th June, the requirement by the Nigerian Stock Exchange for listed companies is 31st March. The Commission had in the past continued to plead for the

NAICOM descends on erring insurance firms sector with other regulators for forbearance.” According to him, going forward, insurance companies must comply with all requisite regulatory requirements without plea subsidies from NAICOM. On solvency adequacy, Daniel said that from the audited financials of nearly a dozen insurance companies, solvency gaps are recurring features of their activities for as much as three consecutive years and appropriate regulation should have resulted in either suspension of the operating

license and possibly withdrawal. “The Commission had chosen to show some understanding against the backdrop of massive investment losses following the capital market crash of 2009/2010. Whereas other sectors have achieved reasonable recovery, insurers and NAICOM may no longer be able to invoke the excuses of the market crash as justification for the poor turn of event. The Commission shall therefore have zero tolerance for solvency gaps in the ensuing year in the interest of the insuring public and for the avoidance of exposure of

NAICOM to regulatory risk,” Daniel said. According to Daniel, the growth of the industry has remained constrained by the near total absence of risk management practice and appropriate product pricing amongst other issues plaguing the industry. “The consequence is massive loss of premium and wealth to stakeholders. “No doubt, therefore, that the price of listed insurance companies rarely record market gain while shareholders

Continues on page 18

AGM - Chairman of Arco Group Plc, Chief Joseph Akpieyi(middle), the Group Managing Director of Arco Group Plc, Mr. Alfred Okoigun(left) and Arco Group’s Legal Adviser, Mr. Dennis Ayisire(right) displaying at Arco AGM the Certificate of Registration of Arco Group Plc, the new Holding Company of Arco. C M Y K

18 — Vanguard, MONDAY, NOVEMBER 10, 2014

Cover Story

The Basic Guide to Starting your Business Part 1

CONFERENCE - From left, Chief Mrs. Leila Fowler, owner of Vivian Fowler Memorial for Girls; Governor of Lagos State, Babatunde Raji Fashola, and Osayi Alile, Chairperson, Executive Council, Women in Management, Business and Public Service (WIMBIZ) at the WIMBIZ Annual Confrence and award in Lagos.

NAICOM descends on erring insurance firms Continues from page 17 have not received dividends in the past 3 – 5 years in 80 per cent of member companies,” he said. On risk-based supervision and market conduct, Daniel said that NAICOM had issued the Risk Management Framework since 2012 preparatory to transition to Risk-Based Supervision, the recent report by Delloitte revealed that its implementation by insurers remains only on paper.

ccording to Daniel, some insurers complain of over-regulation and that the regime of fines and penalties has become punitive, which he described as most unfortunate, however, they are yet to demonstrate how regulation stifled the performance of insurance companies. “It is pertinent to note that every report from international organisations and rating agencies have continued to rate the Nigerian insurance industry as being under-regulated. These organisations include; the International Association of Insurance Supervisors (IAIS), the Financial Stability Board (FSB), the International Monetary Fund (IMF), KPMG and Standard & Po o r s ’ . T h e assessment has taken several forms and different programs, one of which is the Financial Sector Assessment Programs (FSAPs) conducted by the IMF and World Bank. “The last demonstration of under-regulation in the insurance industry was C M Y K

posted by Standard & Poors’ (S&Ps’) rating on Nigeria’s property/casualty insurance sector which; indicated a high industry and country risk assessment. The report rated “Nigeria’s institutional framework in insurance based on their assessment of two factors; (a) regulatory framework and track record, and (b) governance and transparency - as weak. Improvements in these factors have come only slowly and both started from a low base.”

It is high time we all stepped up our game and learn to play by the rules. It is only by so doing that we can achieve real growth and development in the industry and make meaningful contribution to the economy

Daniel said that the introduction of International Financial Reporting Standard (IFRS), the AntiMoney Laundering and Countering the Financing of Te r rorism (AML/CF T) regime, the No Premium, No Cover, the requirement for offshore remittance, etc., has benefitted all insurers today, significantly curbing market abuses. According to him, NAICOM will continue to create the right environment for ethical behaviour and conversely, where they identify actions detrimental to the interest of the industry; shall take corrective steps as part of their mandate. “It is high time we all stepped up our game and learn to play by the rules. It is only by so doing that we can achieve real growth and development in the industry and make meaningful contribution to the economy,” Daniel said. Also piqued by the position of the insurance industry in the financial sector, Mr. Felix Ohiwerei, former Chairman of Nigerian Breweries Plc said that insurance is an important arm of the economy and the nation is underplaying the value of insurance due to the inaction of players in the sector. According to him, insurance operators have not pushed the industry enough to attain the level it deserves, hence he charged operators to be more active and visible so that young people can take on insurance and understand what it is about.

he term business denotes a particular trade or profession designed to provide goods and/or services to consumers. And in like vein, any organization which provides these services is also referred to as a ‘Business’. Businesses play a vital role in the life and culture of countries with capitalist and free-market economies. In free-market economies, businesses operate without government control in matters such as pricing and wage levels. While in capitalist economies, private individual and business firms carry on the production and exchange of goods and services through a complex network of prices and markets. The earliest known use of “business” is the state of being busy either as an individual or society as a whole, doing commercially viable and profitable work. It is of utmost importance that in starting a business, you need to be guided in your choice of bringing that lifelong dream of yours into fruition. By following the basic guides or rules, you can write a plan adequately that reflects your goals, your personal skills, needs, knowledge, leadership abilities, available resources, level of risk, and the nature of your business factor into the equation (the nature of your business). One of the most important aspects of starting your own business is that it gives you an opportunity to do what you enjoy. When starting a business, certain important points must come to mind your business must fit into your personality, passion, vision, strengths and other strong character traits. Never base your desire to start a business on what a friend has done, this is because the fact that it worked for another doesn’t necessarily mean it will work for you. Bear in mind that entrepreneurship is individualistic, and leadership is indivisible. Let me explain to you, why I decided to write this book. I am constantly pained by the alarming rate of unemployed youths in the society and the poverty level not only in our

country, but also all over the world. The situation pulls at my heartstrings and I know and am convinced that we can change things for the better, if only people join in the entrepreneurial revolution by becoming their own boss. Growing up for me wasn’t easy and I knew I didn’t want to end up that way, so the moment I discovered an opportunity, I did not hesitate to take advantage of it. I’m desirous for a transformation, which will catapult your life to that place God has predestined for you. Every business starts with an idea, so it is important to have the right kind of idea; this is because the wrong idea can lead to the failure of a business. Don’t forget that the first step is always crucial in the start of any journey in life. It is important that you Brace up for the challenges ahead, and do not let anyone fool you (don’t be deceived) that you won’t encounter obstacles. Nevertheless, the

One of the most important aspects of starting your own business is that it gives you an opportunity to do what you enjoy determination to succeed and go on will guarantee that you remain on top of your game; this is because the very existence of an idea in your mind shows that you have within and around you, the capacity to turn it into reality. Generally, the size of business you want to embark on has to be thoroughly considered; this is because there is no maximum or minimum length for a business plan. The determining factor for lengths depends on the level of details and the amount of funding you require to achieve such goals.

Vanguard, MONDAY, NOVEMBER 10, 2014 — 19

conomists usually begin their thoughts with choices, scale of preference and alternatives forgone. Individuals, households, firms and nations make choices. The choice that each of these entities makes depends on how informed the one making the choice is on available alternatives and the opportunity cost of the choice made. The opportunity cost is the alternative forgone for the purpose of making the choice. There are economic choices as well as political choices. Nigeria is facing an election year and the electorate will be called upon to make a choice of who will lead the nation in the next four years. Parties are hoodwinking Nigerians to believe in them and choose their favoured candidates. continue to see those in Physiological needs are Issues are being raised on government as rogues, public thought to be the most those in leadership position property is nobody’s and the important; they should be met now and those that were there idea of sharing and not first. Air, water, and food are before and are staging a baking, and the privileged few metabolic requirements for comeback. The point at focus continue to break laws and get survival in all animals, is that Nigerian leaders are away with it, Nigeria will including humans. Clothing corrupt and the nation is continue to be a giant in and shelter provide necessary under-developed. Many think waiting. protection from the elements. that how to get rid of In their attempt to make corruption from the nation’s Nigeria great, leaders must n making a choice for the body politics is the major issue focus on Maslow ’s theory 2015 general elections, at stake. Some have talked which was fully expressed in Nigerians must find out which about transformation which is his 1954 book, Motivation and Nigerian political party has the actually what Nigeria needs. Personality. Maslow ’s programme to bring this to What kind of transformation hierarchy of needs remains a their doorsteps. It is not about does Nigeria need, physical very popular framework in the person, his religion or infrastructure transformation sociology research, which geopolitical region he or mental transformation of management comes from the citizenry? Thus far, training and but what is Nigerians have focused on secondary and the candidate physical transformation based h i g h e r offering the on infrastructural p s y c h o l o g y nation and development. No matter the i n s t r u c t i o n . t h e level of infrastructural The first thing alternative to development, if there is no t h a t be forgone if I change in the way of life of the preoccupied vote for him. people, the way they see the mind of the If you are things and the way they relate a v e r a g e relatively to things, whatever Nigerian is his satisfied with transformation goes on will physiological physiological just be another of those things. needs; the needs, safety The current attitude toward p h y s i c a l needs take anything public sector, will requirements precedence have to change before Nigeria for his human and dominate can make progress. Crude oil survival. If behaviour. In theft, pipeline vandalism, t h e s e N i g e r i a insurgency etc., are deep requirements today, the rooted issues that Nigeria is are not met, as absence of grappling with. Are they acts it is today, the physical of corruption? Vandalising mind of such safety – due electricity installation is i n d i v i d u a l to the certainly not an act of c a n n o t insurgency in corruption but the inability of f u n c t i o n the Norththose in power to implement properly and East and and enforce existing laws. will ultimately s u i c i d e So long as Nigerians f a i l . bombing,

Think of the alternative before making the choice of who leads

Can Nigeria continue to tow this line for much longer? Every Nigerian needs food, shelter, clothing, recognition and self esteem

armed robbery, kidnappings many Nigerians are experiencing traumatic stress disorder or Trans generational trauma. Similarly for what sometime now the absence of economic safety – due to economic crisis and lack of work opportunities safety needs manifest themselves in ways such as a preference for job security, grievance procedures for protecting the individual from unilateral authority. What many Nigerian need now in terms of safety and security needs include: personal security, financial security, health and well-being, safety net against accidents/illness and their adverse impacts. The question to ask is in the next few years which of those declaring for political offices are disposed to offering Nigerians these basic needs? After the physiological and safety needs above are fulfilled, the third level of human needs that Nigerians need urgently is interpersonal relationship among the different ethnic groups in the country and the feelings of belongingness. Deficiencies in this due to political neglect, shunning and ostracism have impacted the ability of majority of Nigerians to form and maintain emotionally significant relationships in general with some sections of the nation. Nigerians need to feel a sense of belonging and acceptance among their social

groups in their own country. Humans need to love and be loved. All humans have a need to feel respected; this includes the need to have selfesteem and self-respect. Esteem presents the typical human desire to be accepted and valued by others. Low selfesteem or an inferiority complex may result from imbalances. People with low self-esteem often need respect from others; they may feel the need to seek fame or glory. However, fame or glory will not help the person to build their self-esteem until they accept who they are internally. Are all sections of the Nigeria project valued equally? The idea that only some sections of the country have the privilege to become President or Governor has caused a lot of alienation in the society. Can Nigeria continue to tow this line for much longer? Every Nigerian needs food, shelter, clothing, recognition and self esteem. In Nigeria’s political dispensation, if there is a party that faithfully come out with a programme that will ensure that every Nigerian has access to decent food, can ensure that public schools work and children have good education, individual workers can, with their employment letter, be guaranteed of access to amenities through a very well developed credit system, have access to decent housing through a functional mortgage system, and guaranteed of a good living on retirement, corruption will be a thing of the past. Nigerians must think, weigh the cost and benefit of whatever choice they are about to make.

Business & Economy

Lack of investment, greatest threat to agriculture in Nigeria — PEARSON By JONAH NWOKPOKU

he Managing Director of Afrocet Nigeria, Bryan Pearson has identified lack of investment in the agricultural sector as the major threat to its growth and development. Bryan, who made the observation in an interview with Vanguard, on potential of the sector and the opportunities that the upcoming ‘Agra Innovate’ exhibition and conference will provide for farmers in the country, decried that the oil and gas sector has gobbled up

most of the investible funds that should have been dedicated to growing the agricultural sector. He noted that with increased investment in the sector, Nigeria has the potential to play major role in combating global food insecurity by becoming net exporters of different agricultural produce. “Nigeria has the potential to be huge exporters. This is because the soil is good, the climate is perfect, but the problem is, the big money has chased oil and gas for the last four decades. And agriculture needs some big money to make it work. For instance, if you are

going to set up a proper groundnut plant anywhere in Nigeria, you need at least $70 million but then rather than import groundnut oil which is what Nigeria does mostly now, you will not be spending foreign exchange in importing, you will be producing it more cheaply,” he said. He said the Afrocet exhibition and conference is a platform designed to foster high level discussion among farmers, investors and technology providers on how to rebuild agriculture in the country. According to him, the threeday event will involve the

Minister of Agriculture, Dr. Akinwumi Adesina who will present a keynote speech on Nigeria’s agricultural transformation – policy, technology and investment priorities. He explained that other topics that will be explored at the event include: Making the case for investing in Nigerian agriculture: Key market drivers and opportunities; the Nigerian input supply market: Ongoing lessons from the private sector in GES implementation; the Nigerian fertiliser revolution: Identifying opportunities in a

booming market and Analysing the rate of technological modernisation and mechanisation in Nigeria’s large scale farming and processing sector. Others include: Rice production: An accelerated path to national self sufficiency; Implementing the ‘Staple crops processing zones’ initiative: Agroindustrial drivers of modernisation and private sector investment and combating post-harvest losses through storage technology and private sector driven agricultural commodity exchanges.” C M Y K

20 — Vanguard, MONDAY, NOVEMBER 10, 2014

C M Y K

Vanguard, MONDAY, NOVEMBER 10, 2014 — 21

Business & Economy

Transcorp Hilton Abuja wins World Travels Awards

ranscorp Hilton Abuja, for the second consecutive year, has been honoured with the prestigious award of Nigeria’s Leading Hotel 2014 and Nigeria’s Leading MICE Hotel 2014 awarded by the World Travel Awards. In hospitality parlance, MICE stands for Meetings, Incentives, Conventions and Exhibitions. Transcorp Hilton Hotel is owned by Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation of Nigeria Plc. ‘’To receive these two prestigious awards in key categories from World Travel Awards is a great honor and an achievement for our hotel and indeed for team members who have and continued to work tirelessly to make ours the leading world class hotel in Abuja said Etienne Gailliez, General Manager, Transcorp Hilton Abuja. ‘I am delighted that our commitment to the consistent delivery of world class experience to all our guests has been recognized once again by a reputable industry watchdog. I have no doubts that the awards will spur us to work even harder and attain greater heights of excellence.’’

FBN forum identifies sustainability as next megatrend to grow economy By PRINCEWILL EKWUJURU

forum on sustainability impact assessment organized by First Bank of Nigeria Plc, FBN has identified corporate sustainability as the next megatrend in business that would transform organizations and the economy. A Director at Centre for Corporate Responsibility, School of Management, Cranfield University, US, Prof. David Grayson, at the sustainability conference held at the Lagos Business School, LBS, Pan Atlantic University , Epe, Lagos, delivered a key note address titled; Challenges and Opportunities of Running Sustainable Business in Emerging Market. He was of the view that there is high speculation that corporate sustainability is the next megatrend that would transform organizations and their markets.

NIPC boosts capacity to reposition commission By FAVOUR NNABUGWU

he quest to make the Nigerian Investment Promotion Commission, NIPC, one of the best Investment Promotion Agency, IPA, in the world has commenced as the

Executive Secretary, Mrs. Saratu Umar has set in motion, various strategies in place to transform and reengineer the organization in order to deliver on its mandate. Umar in line with her transformation programme, organized a training workshop in conjunction with

the Institute of Workforce Development, IWDEV, for both Senior and Management cadre of staff with the theme “Strategic Institutional Transformation Programme” in Abuja. In her remarks , NIPC boss enjoined the staff to embrace her vision and transformation programme to re-engineer

CELEBRATION - From left Mr Kingsley Aigbokhaevbo, Executive Director, Domestic Bank, Ecobank; Tony Okpanachi, Deputy Managing Director; Barbara Pepoli, General Manager, Loving Gaze; Foluke Aboderin, Executive Director, Corporate Bank, Ecobank and Christian Anyanwu, Admin Officer, Loving Gaze during the donation of malaria testing kits and mosquito nets to Loving Graze, a Non-Govenmental Organisation, being part of the Ecabank Day celebration in Lagos over the weekend

Samsung nets N30.48trn in annual sales zRecords N7.28trn in 2014 By PRINCEWILL EKWUJURU

amsung Electronics said it raked in N30.048 trillion ($187.8 billion) annually from 79 countries of its operation, while recording a sales volume of N7.280 trillion ($45.5 billion) in the 2014 financial year which is a 15 percent increase against last year’s $39.6 billion. The amount sold in 2014 has brought the company to the top 20 in Interbrand’s global brand list for the first time since 2009. Interbrand, is world’s brand consultancy company, specializing in brand strategy, analytics, valuation, corporate design, and brand management, packaging design and naming. With the result Samsung has risen one spot this year from the eighth position occupied in 2013, thus recording a brand value of $45.5 billion in 2014, a 15 per cent increase from last year’s $39.6 billion. The above amount has taken Samsung Electronics to the seventh position in Interbrand’s annual ‘Best Global Brands’ report. The recently report showed that the global growth of Samsung’s brand value were through creative marketing initiatives and continued market leadership across several product categories, including smartphones, televisions, digital

appliances and memory devices. The report also pointed out that the company dominated the smartphone market for the past two years, boosted by the launch of flagship products such as the Galaxy S5 and Galaxy Note 4, while retaining its global leadership in the TV market for nine consecutive years, a position that was enhanced by its introduction of the world’s first curved ultra-high definition televisions. Speaking, Managing Director of Samsung Electronics West Africa, Mr. Brovo Kim, reiterated the company’s commitment to delivering new and innovative solutions to consumers. “We will strive to continue to be an aspirational brand through innovative ideas and technologies that give people the power to discover new experiences and enhance their lives,” he said. Samsung is also leading the digital appliances market with new product lineups such as the premium Chef Collection kitchen appliance range. The company has grown its brand value by focusing on one common brand ideal: ‘Accelerating discoveries and possibilities’, and making it come to life with a number of consumer engagement programmes, including the 2014 ‘Launching People’ campaign which reached over 100 million people.

and position the Commission to deliver on its mandate, as “there is global competition in attracting Foreign Direct Investment (FDI) to any economy in the world”. She said her transformation agenda is to re-strategize in order to realize the vision and mission of the Commission and “make it the best IPA in the world, advance the country ’s economy and ensure that the workforce is adequately motivated to carry out the assignment”, adding, “We need to deal with the situation on ground and move forward”. She noted that many African countries are implementing aggressive market strategies in order to attract FDI, and Nigeria cannot be an exception, stressing that “NIPC is the only Government institution that is mandated to promote and attract investment into the economy; therefore we must rise to the challenge and do it professionally”. Umar emphasized that if the Commission is not repositioned and reengineered to meeting up with modern trends and skills of investment promotion, it may be difficult for the institution to achieve its mandate, stressing that “I will focus seriously on sound corporate governance practices; effective risk management framework; appropriate best in class Information Technology Infrastructure; enterprise – wide performance management system; standardized processes and policies and organizational culture of international best practices and a high level of professionalism”. Other areas she listed as her vision are “certification by International Standard Organisation (ISO) to attain process maturity and enhanced NIPC’s service delivery, reliability and efficiency; business process optimization, re-engineering and management for efficiency, timeliness and effectiveness; rating by an international rating agency to enhance NIPC’s standing and credibility; accountability, continuous innovation and dynamism to reflect a global and world class outlook; effective communication and engagements with various stakeholders and staff welfare and motivation”.

22 — Vanguard, MONDAY, NOVEMBER 10, 2014

Banking & Finance By BABAJIDE KOMOLAFE

NDIC boss charges banks’ boards on value creation

he Managing Director/ Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Alh. Umaru Ibrahim has stated that there is need to always strike a balance between financial performance indices and nonfinance value creating measurements in determining banks’ board performances. Alh. Ibrahim gave the advice at the 2014 CBN – FITC Continuous Education Programme for directors of banks in Lagos and emphasized that rather than concentrating on financial measurements such as capital adequacy, asset quality, liquidity, profitability and efficiency, it had become imperative for boards of financial institutions to equally focus attention to indices such as effective risk management, gender equality and family friendliness as well as staff compensation, development and sustainability.

Union Bank showcases products at Lagos trade fair

nion Bank of Nigeria will showcase its array of products and services to visitors and exhibitors at the ongoing Lagos International Trade Fair. The Fair kicked-off on November 7 at the Tafawa Balewa Square, Onikan, Lagos and will run till November16, 2014. Organized by the Lagos Chamber of Commerce and Industry, the Lagos International Trade Fair is the largest Trade Fair in the West African Sub-region and attracts more than a hundred thousand business visitors over a ten day period. The Head, Corporate Affairs & Corporate Communication at Union Bank, Ogochukwu EkezieEkaidem said Union Bank is participating in the Fair to demonstrate its commitment to supporting SMEs and meeting its customers’ financial needs through simple and accessible banking services.

anks have started deploying Outbound Money Transfer services to ease the stress of sending money from Nigeria to individuals outside the country. This followed the introduction of the revised guidelines for International Money Transfer Services by the Central Bank of Nigeria (CBN), which allows provision of Outbound Money Transfer services in the country. Hitherto, banks could only provide inbound money transfer services. Under the Inbound money transfer, an individual living abroad can send money to an individual in Nigeria. Hence this is the one most Nigerians are used to. However, there are also people in the country who need to send money to friends or relatives living abroad. These may either be Nigerians or any of the 10 million foreigners working in Nigeria. Hence the introduction of Outbound Money Transfer (OMT) services by the CBN. Outbound Money Transfer is person to person international money transfer from Nigeria to countries around the world. It could be a gift to friends or family living abroad or much needed funds for a travelling child. Thus it is the exact opposite of Inbound Money Transfer, which most Nigerians are familiar with. According to the CBN guidelines, an individual can send up to $5000 to another individual abroad. However, it cannot be used by a business organisation in Nigeria to send money to another organisation abroad. Also, Outbound Money Transfer service cannot be used to pay school fees of children or wards studying abroad. According to the CBN guidelines, Outbound Money Transfer services can only be provided by organisations duly licensed by international money transfer services. Such organisation must either be licensed by the CBN or in its home country to provide such services. Hence the CBN licensed MoneyGram International and Western Union Money Transfer as International Money Transfer Service Operators (IMTOs) in the country. However, the IMTSOs can only provide their money transfer services through an agent or network of agents. “An approved money transfer service operator may conduct its business through an agent, in line with the provisions of these guidelines. An agent is a suitable entity engaged by a money transfer service operator to provide money transfer service on its behalf using the agent’s premises, staff and technology”, said the CBN. Though most banks already serve as agents to either or both MoneyGram International and Western Union, the agent

OUTBOUND MONEY TRANSFER:

Sending money from Nigeria with ease

•Emefiele, Governor, CBN relationship has been limited to provision of Inbound Money Transfer Services. But with the new guidelines allowing provision of Outbound Money Transfer services, and with the CBN licensing the two international firms to provide this service, they have started signing on some banks as agents for provision of Outbound Money Transfer services. In August, the CBN, Western Union and FirstBank launched the first Outbound Money Transfer services. Speaking at the launching ceremony, CBN Governor, Mr. Godwin Emefiele said the service is targeted at remittances by individuals to dependants, including children, leaving abroad and for other personto-person needs. He said that the system would also simplify money transfer process in

However, there are also people in the country who need to send money to friends or relatives living abroad. These may either be Nigerians or any of the 10 million foreigners working in Nigeria

Nigeria. He said, “Today, outbound money services is being launched to provide an alternative channel of foreign exchange transfer to serve the needs of small foreign exchange end users. “Simultaneously, it reduces the foreign exchange sourced from official foreign exchange window in Nigeria and to a large extent, helps to conserve our foreign exchange. "A prospective customer, who wished to use the service, would only pay the naira equivalent to the money transfer operators for the foreign currency that would be paid to the specified beneficiary abroad. This will end the idea of going to the Bureau de Change or banks to buy foreign currency before transferring money abroad. “If you need to make payment to your children, brothers and sisters living abroad that need small financial support, all you need to do is to take your cash to any of the 5,000 Western Union outlets in Nigeria. We are working very hard to ensure that the number of outlets increases further from 5,000. We have also agreed with Western Union about the need for them to work with Bureau de Change (BDC) operators that are well structured,” he said. He said that the outbound transfer service would only be conducted by international money transfer service operators, adding that banks and BDCs that met the new CBN requirements would serve as agents for money transfer service. He stated that bank accounts were not required to transfer funds and

that transaction points would be within the reach of customers. “We will allow cash, but going forward, we will discuss with operators of mobile telephones so that those on the mobile payment platform can transfer money from their accounts via western union to anybody abroad. These are some of the efforts we are making because we are embracing cashless transactions,” he said. This was followed by the introduction of Outbound Money Transfer service by MoneyGram. In a statement issued to this effect, the company said, “The MoneyGram Outbound Service which will re-inforce the well-known MoneyGram “Receive and Send money in 10 minutes” brand promise is expected to lead to greater convenience and ease as customers will be able to access in the majority of MG location, through their partner banks. MoneyGram is offered through respected financial institutions in Nigeria including Ecobank, UBA, First Bank, Access Bank, Sterling Bank, Fidelity Bank, Skye Bank, Keystone Bank, Enterprise Bank, Mainstreet Bank, Diamond Bank and Wema Bank, among others. Furthermore, speaking at the launch of the “Naija Sends”, an Outbound Money Transfer service by MoneyGram and UBA Plc, Regional Manager, Anglophone West Africa, MoneyGram, Mrs. Kemi Okusanya, said the launch of ‘Naija Sends’ has further deepened the brand’s reach and service in Nigeria. “Over the last two decades MoneyGram has facilitated over 15 million transactions in Nigeria, enabling safe, convenient and reliable transfer of funds from the Nigeria Diaspora to their loved ones. As Africa’s largest economy, with over 10 million migrants, we are glad we are now able to also offer Nigerians the opportunity to send money abroad to their loved ones and for business transactions”, Mrs. Okusanya said. Speaking during the event, UBA’s Group Managing Director/Chief Executive, Mr. Phillips Oduoza said the new UBA and MoneyGram outbound money transfer service will boost trade and business between African countries as many Nigerians who do business across Africa, no longer have to move around with cash as they can easily transfer money to their business partners in other African countries or in China, Europe and America to pay for goods and services bought.

Vanguard, MONDAY, NOVEMBER 10, 2014 — 23

Banking & Finance

Naira gains 430k in interbank as CBN adopts new intervention strategy zFurther depreciation inevitable — DEALERS zNew policy triggers 196% oversubscription for TBs By BABAJIDE KOMOLAFE

External reser ve drops to $38bn The huge dollar sale by the CBN however impacted

BY PROVIDENCE OBUH

he naira recorded its single day appreciation of 430 kobo in the interbank market on Friday following the adoption of a new strategy by the Central Bank of Nigeria (CBN) to intervene in the foreign exchange market. The new method which cut foreign exchange dealers napping caused the interbank foreign exchange rate to drop sharply to N165.8 to the dollar at the close of business on Friday from N170.1 to the dollar on Thursday. Hitherto, the CBN intervened by selling specific amount of dollars to each banks at specified exchange rate. But on Friday, the apex bank changed its strategy, by asking banks to supply their buy and sell rate for different amount of foreign exchange (i.e. $0 to $20 million, $21 million to $40 million etc), insisting that the difference between the two rates must not be more than 50 kobo. Upon receiving the quote for each bank, the CBN then decided the amount of dollars it would sell to each bank. By so doing the CBN injected huge amount of foreign exchange into the interbank market. Recall that the CBN had last week banned banks from selling dollars purchased through it’s intervention sales to each other, or to bureaus de change. It also imposed a limit of 10 kobo margin on sale of such dollars to customers, and that such dollars must be returned within two days if they are not sold by the banks. These measures coupled with the huge volume of dollars sold by the apex bank on Friday, forced banks to reduce their interbank exchange rate quotes. The CBN however, allowed the naira to depreciate marginally by four kobo at the official market last week, moving the official exchange rate to N155.8 to the dollar from N155.76 the previous week.

MSMEDF: Accion MfB receives N50m from CBN

severely on the nations’ external reserve during the week. The reserve fell consistently from Monday to Thursday, shedding $690 million, as it fell to $38.07 billion from $38.76 at the end of October. Consequently the external reserve had fallen by $5.83 billion from $43.93 at the end of last year. This sharp fall in external reserve is driven by increased dollar sales by the CBN in its effort to defend the naira against the dollar. This is reflected in the amount of dollars sold through the biweekly RDAS foreign exchange sales, which showed that the CBN as at last week has sold $29.9 billion through RDAS this year. This translates to 16 percent increase when compared with the $25.67 billion sold in the whole 2013. But with price of crude oil falling by 23 percent in the last five months and still projected to fall, apprehension over the impact of the falling prices on accretion to the external reserve has caused foreign investors to believe that the naira would depreciate despite assurances by the CBN to defend the naira.

*Further depreciation inevitable -Dealers Despite the appreciation of the naira in the interbank on Friday, foreign exchange

dealers however told Vanguard that further depreciation of the naira in the interbank market is inevitable. Speaking on condition of anonymity, the Treasurer of a bank with international afflictions said, “We expect further depreciation. Foreign investors no longer believe in the CBN’s rhetoric of defending the naira. Everybody can see the factors and it is obvious that defending the naira as insisted by the CBN is not possible, and as a result confidence in the CBN in this regard is waning”, he said. A market analyst who does not want his name mentioned

CBN's actions are aimed at addressing NGN pressures that have increased significantly in recent weeks

told Vanguard that it would be difficult to maintain the appreciation of the naira in the interbank on Friday. He said the only way this could be achieved is for the CBN to continuously intervene in the market with huge dollar sales for about a week, adding that this however will affect the external reserves. “Definitely, we would see more naira depreciation. I think what they (CBN) are trying to do is to avoid the kind of devaluation that happened in 2008,” he said. These views were corroborated by the Ecobank Group Research team in the Middle Africa Briefing Note titled, “Nigeria: Naira Devaluation by Default?" issued on Friday. They predicted a 15 percent devaluation of the naira in the weeks ahead. They said, “On 6 November, the central bank issued two circulars to separately address naira (NGN) volatility and unlock money market funds to productive sectors of the economy. The CBN’s actions are aimed at addressing NGN pressures that have increased significantly in recent weeks. The NGN will come under further pressure in the interbank market owing to strong dollar demand, the recent sharp fall in Brent oil prices (down 23% since late June), and uncertainty over the effect of normalisation.

ccion Micro-finance Bank (AMfB) has received N50 million as part of Micro, Small and Medium Enterprises Development Fund (MSMEDF) from Central Bank of Nigeria (CBN). The MSMED Fund forms part of the CBN framework for developmental functions which aims to promote financial inclusion in the country through the provision of funding to microentrepreneurs and it is channeled through micro finance banks for purposeful lending to customers, thus ensuring sustainability and accountability. In a statement, the bank said that the fund will be used to fund micro-entrepreneurs in the education sector. The bank explained that the decision to fund micro entrepreneurs in the education sector is because education aligns closely with her strategy for creating brighter futures. for her customers by giving them the opportunity to improve their socio-economic well being through good education to children which consequently leads to sustaining the wealth created by their parents. The bank further said that the decision will promote growth and development, saying, “Education is a viable factor towards achieving financial inclusion as well as the millennium development goals. Education is also the corporate social responsibility focus of AMfB.” MD/CEO of the bank, Ms Bunmi Lawson, said, “The MSMED Fund is a welcome development from the CBN. We believe education opens the doors to greater opportunities and we are committed to giving a brighter future to our customers, to this end, the fund will enable us achieve this”. However, With over 35,000 loan customers, the bank has disbursed N7.4 billion worth of loans to customers since January 2014 with N960 million being disbursed in September 2014 alone. Therefore, the fund will enable the bank continue to disburse loans to customers who desire to alleviate their economic well being. C M Y K

24 — Vanguard, MONDAY, NOVEMBER 10, 2014

Corporate Finance Stories By NKIRUKA NNOROM

Access Bank grants $250m facility to Sea Truck

ccess Bank Plc has granted a $250 million credit facility to Sea Truck Groups, an international group of companies offering offshore installation, accommodation and support services to the oil and gas industry worldwide. In explaining the capacity of the bank to undertake deals of this magnitude, the Group Managing Director, Access Bank Plc, Herbert Wigwe said that the bank has recorded commendable expansion and growth in the last decade; “This has positioned the bank within the top five banks in the country. With regards to our regional spread, Access Bank is currently in seven countries inclusive of the UK and now has an office in China with plans to establish presence in Dubai next year”. Expressing his appreciation to Sea Truck Group for the opportunity afforded the bank, he said, “Sea Truck Group is a company that is dear to our heart. We will always support the company in its dealings, as we are confident that this mutually beneficial relationship will provide the backbone for future more robust dealings”.

Mixed U.S. jobs report leaves markets flat

uropean shares slipped while Wall Street looked set to open marginally higher after a monthly U.S. non-farm payrolls report showed job creation solidly above 200,000 in October but shy of the 230-240,000 forecast by analysts. After a choppy run into the jobs numbers, the FTSE index of leading European shares. FTEU3 was marginally lower, hit by losses for banking stocks that included an almost 4-percent fall for French lender Credit Agricole (CAGR.PA). Futures showed both the S&P 500 SPc1 and the Dow Jones Industrial Average DJc1 set to gain just under 0.2 percent on opening. Analysts said the numbers were not enough to drive markets higher but also clearly did not derail the U.S. economic recovery.

apaul Oil & Maritime ServicesPlchas recorded a gross profit of N5.9 billion for the year, 2013 from N4.99 billion recorded in 2012, an increase of 20.4 per cent. The company ’s turnover increased to N13.02 billion in the review period, up 6.03 per cent from N12.28 billion recorded in 2012, while the group turnover stood at N8.03 billion in 2013 from N7.24 billion in 2012. The company ’s finance charges had during the thrird quarter ended September 2004 risen by 71 percent to N935.149 million from N546.760 million posted in the same period in 2012. This is despite the

Japaul's 2013 gross profit up by 20 per cent assurance by the Managing Director, Mr. Paul Jegede, to shareholders at the 2013 Annual General Meeting, AGM, that its investment in the acquisition of vessels, oil and gas equipment and other machinery would help it return to profitability during the year. According to him, “Our continued acquisition of new assets in terms of vessels, oil and gas equipment, dredgers etc, were geared towards our company positioning for the future and healthy competition in the oil and gas and maritime industries”.

The company’s financials had shown a return to profitability with the profit after tax growing to N239.7 million for the financial year ended December 31, 2013, from a loss after tax of N6.7 billion recorded in the same period of 2012. The company also posted loss after tax of N490.61 for its third quarter ended September 30, 2014 following the increasing cost of financing bank debts on its operations This stood for 201.1 percent decrease over N485.500 million profit after tax

INDUCTION CEREMONY - From left: Otunba Samuel Olufemi Deru, Vice President, The Institute of Chartered Accountants of Nigeria (ICAN); Mrs M.O Onasanya, Special Guest of honour; Mr.Chidi Onyeukwu Ajaegbu, Golden Jubilee President, ICAN and Alhaji Kabir Alkali Mohammed, Immediate Past President ICAN at the 54th Induction Ceremony for new members by ICAN held in Lagos.

IDELITY Bank plc has rewarded another set of winners in its on-going ‘Save 4 Scholarship’ promo with total cash prize of N12.7 million alongside other consolation prizes. The nationwide draw, which was the third since the commencement of the promo, saw 32 winners from the six geopolitical zones in the country carting away cash prizes ranging from N2million (star prize), N1million, N500,000 and N210,000, including six Generating Sets and Refrigerators. Speaking at the event, the Group Managing Director/ CEO, Mr. Nnamdi Okonkwo, represented by I.K Mbagwu, Executive Director, Lagos & South West, said that aggregate savings in the bank has grown by over 10 percent

achieved in the equivalent period in 2013. It also maintained the positive trend in Q1 2014 to March 2014, recording a turnover of N3.219 billion, a gross profit of N1.779 billion, a profit before tax of N246.4 million and a profit after tax of N223.4 million, but the third quarter under review is generally a reversal as shown by the result posted on the Nigerian Stock Exchange, NSE, website. The company recorded loss after tax of N490.610 million in the period under review as against N485.500 million profit in quarter one in 2013, representing 210.1 percent decrease. The company ’s turnover at N8.29 billion was 13.7 percent decrease over N9.61 billion recorded in 2013. However, the cost of sales improved slightly to N4.49 billion compared to N4.52 billion in the same period in 2013, while the general administrative cost declined to N3.17 billion as against N3.42 billion in the same quarter in 2013. Japaul is into the business of oil & gas servicing in the area of maritime operations, dredging services, ship building and repairs, road transportation & logistics and Flowlines and Pipelines. Japaul presently has Subsidiaries which are Japaul Gulf Electromechanical LLC (UAE), Japaul Trading Company (Nigeria) and Japaul LLC (USA). ‘

Fidelity Bank splashes N12.7m on 'Save 4 Scholarship' winners in the last seven years following different promos initiated by the bank to increase savings culture in the country. He added that the bank has raked in about N50 billion in savings accounts in the last two years, with the figure heading to a N100 billion presently. He said that visitors at the on-going Lagos International Trade Fair stand a chance of benefiting from the promo as the bank will give out various prizes to customers that take will advantage of the Fair to open savings account with the bank. He said, “You have seen that

most of the winners, those we were able to reach immediately, were very happy. We are happy that people are actually participating and winning; we just we want to encourage many more people to continue do the same thing because you can also be a winner. So, it is something that we are very happy about; we are passionate about it. As you have heard, we still have about N38 million to be won, so people can continue to save.” Also speaking, Mr. Emeka Obiagwu, General Manager, Fidelity Bank, said, “You heard when we spoke to

some of the winners, for them, it was surprising and they took the message that they will go out there to tell their friends and relatives. The message for those that are yet to open account with us is that they should do so immediately and begin to save.” To participate in the monthly draw, all a customer needs to do is to open a savings account with the bank and grow it to N20,000, while the existing customer is required to top up his account with N10,000 or more to qualify. The amount won is payable over five years and can be converted to cash.

Vanguard, MONDAY, NOVEMBER 10, 2014 — 25

26 — Vanguard, MONDAY, NOVEMBER 10, 2014

Corporate Finance BY PETER EGWUATU

Sterling Bank holds EGM tomorrow

TERLING Bank Plc will tomorrow hold an Extra-Ordinary General Meeting (EGM) to seek shareholders’ approval to raise fresh capital for the Bank. The meeting will hold in Lagos and will consider, and if thought fit, pass the following as Special Resolutions: “That subject to regulatory approvals, the Directors be and are hereby authorized to issue up to 7,471,698,113 Ordinary shares of 50 kobo each from the Company ’s share capital by way of Special/Private Placing to Messrs. Silverlake Investments Limited or such other identified strategic investor at a price of N2.65 per share or such other price as the Directors may determine in the interest of the Company and subject to other terms and conditions and at such times as the Directors may deem fit, and in respect thereof, the Directors be and are hereby further authorized to appoint such advisers, professionals and parties that they deem necessary, upon such terms and conditions that the Directors may deem appropriate”

CIBN commends Heritage Bank for professionalism, innovation

HE Chartered Institute of Bankers of Nigeria (CIBN) has described Heritage Bank’s continued deployment of innovative banking services and preference for quality workforce as a strong proof that professionalism still thrives in the Nigerian banking system. Speaking during the institute’s stakeholder engagement visit to the Bank’s corporate head office in Lagos recently, Otunba (Mrs.) Debola Osibogun, president/chairman of Council, CIBN said Heritage Bank has, in less than two years of operation, brought remarkable freshness to the delivery of banking services. “It is our delight that Heritage Bank is making remarkable impact within the Nation’s Banking industry. We recognize and appreciate your sense of innovation as a bank which reflects on the banking services you offer”, Osibogun noted.

OLLOWING the Securities and Exchange Commission, SEC approval of the scheme of merger and subsequent approval of the Federal High Court, Nigerian Breweries, NB Plc and Consolidated Breweries Plc have commenced move for their separate Court Ordered Meetings (COM) to seek shareholders' consent to the proposed merger. Ahead of the separate court ordered meetings, Vanguard gathered that notice of the meetings, including scheme of merger documents have been dispatched to all shareholders.

NB, Consolidated Breweries to seek shareholders' consent on merger It was gathered that both Court Ordered Meetings have been scheduled for Thursday, 4th of December 2014. While Court Ordered Meeting for shareholders of Consolidated Breweries Plc will hold at the Lagoon Restaurant, Victoria Island, Lagos, the Court Ordered Meeting for shareholders of Nigerian Breweries Plc will be held at Zinnia Hall, Eko Hotel, Lagos . It was further gathered that both companies would present

their proposals before the shareholders to combine the operations of Consolidated Breweries and Nigerian Breweries into a single legal entity effected through a Scheme of Merger. The surviving entity of the merger will be named “Nigerian Breweries Plc”. On how the value of both companies could be determined for the purpose of the proposed merger, it was gathered that Nigerian Breweries Plc and

PARLEY From left : Managing Director, Mr. Thandalam Dayanand; Chairman, Mr. Edmund Onuzo and Finance Director, Mr. Jonathan Murray all of GSK Consumer Nig. Plc at a media parley held at GSK Head Office.

COBANK Transnational Incorporated (ETI)’s third quarter, Q3 net income has increased by 31 percent on reduced costs as it continues to seek organic growth through business combinations. For the first nine months through September, Ecobank’s Profit After Tax (PAT) appreciated by 31 percent to N52.49billion from N39.96billion in the same period of the corresponding year, 2013. The bank grew gross earnings by 16 percent to N207.75billion while interest income were up by 10.70 percent N187.67billion in the period under review. Market operators have attributed the growth at the top line level to the expertise management of resources by the boards of directors of the bank which led to a remarkable reduction in costs. According to Group Chief Executive Officer, Albert Essien, “Our strong results for the first nine months of 2014 show solid revenue growth and a further reduction in our costincome ratio,” “The sustained improvement in our Nigeria business, the largest of our 36 countries in Africa, and another strong treasury performance, has helped deliver earnings

Consolidated Breweries Plc have been advised by separate independent financial advisers in determining their fair values and the financial details for the expected combination of the two businesses. Information available to Vanguard revealed that an independent fairness opinion was obtained by Consolidated Breweries Plc from Ernst & Young in deciding to proceed with the transaction It should be noted that HEINEKEN NV is the majority shareholder in both companies and a decision to merge has been taken by the Boards of both companies, in the best interest of each business, its brands and its people. HEINEKEN is represented on both boards, but does not make these decisions on its own. Ultimately, the proposal to merge will be approved by 75 per cent of the shareholders of the two companies present and voting in separate Court Ordered Meetings. While HEINEKEN as shareholder of these two companies has the right to vote and is in favour of the merger, HEINEKEN has decided not to vote, avoiding any possible doubts on Heineken’s integrity/conflicts of interest in this deal.

Ecobank’s 9 months profit up by 31% per share up 26 percent.” Breakdown of the result shows that, the bank’s cost to income ratio reduced to 66.56 percent in Q3 2014 from 71.20 percent the preceding year. Additionally, net margin moved to 19.51 percent in Q3 as against 17.23 percent the preceding year.

Ecobank is aggressive about lending as its loans to deposit ratio jumped to 71.63 percent in Q3 2014 from 66.80 percent as at Q3 2013. Loans and advances were up by 16.55 percent to N1.97trn in Q3 2014 from N1.69trillion as at Q3 2013. Deposit from customers also spiked by 8.69 percent to

N2.75trillion in Q3 2014 from N2.53trillion as at Q3 2013. Total assets were up by 10.69 percent to N3.83trn in Q3 2014 compared with N3.46trn the preceding year. Ecobank’s share price closed at N18.20 on the floor of the NSE while market capitalisation was N290.40billion.

UBA, MasterCard partner on electronic payments M

ASTERCARD and United Bank for Africa (UBA) Plc, have completed a multi-country licensing project that will see the pan-African bank accept and issue MasterCard prepaid, debit and credit cards in 14 countries across sub-Saharan Africa. Through the partnership, 14 of UBA’s 19 subsidiaries across sub-Saharan Africa, will gain access to MasterCard payment solutions, and by so doing, enjoy the security and convenience of electronic payments. MasterCard will leverage UBA’s fast growing footprint to enhance the adoption of cashless payments in a wider geographical region across Africa. United Bank of Africa is now licensed to accept and issue MasterCard products in the following countries: Cameroon, Chad, Democratic Republic of Congo, Gabon, Ghana, Guinea (Conakry), Kenya, Liberia, Mozambique, Republic of Congo (Brazzaville), Sierra Leone,

Tanzania, Uganda and Zambia. Prior to the completion of the deal, United Bank for Africa was licensed to issue MasterCard payment products in Nigeria. Commenting on the initiative, Deputy Managing Director and CEO, UBA Africa, Kennedy Uzoka said: “This collaboration is a reflection of our vision, which is to be Africa’s bank of choice for the provision of innovative financial products and services. We understand the significance of partnerships, and what we have with a global player such as MasterCard, is an integral part of achieving our vision for Africa.” The growth of Africa’s payments industry follows a combination of public and private investments in innovative solutions that will see the extension of financial inclusion to the unbanked and under-banked.

Vanguard, MONDAY, NOVEMBER 10, 2014 — 27

Commodity Index

Micro-Finance

AB Microfinance Bank opens new branch in Ibadan By PROVIDENCE OBUH

B Microfinance Bank, a foreignowned national Microfinance bank licensed by the Central Bank of Nigeria officially opened its 15th branch in Ibadan, Oyo state capital. Speaking during the branch opening ceremony in Ibadan, the Managing Director/Chief Executive Officer of the bank, Mr. William Bonilla, described the branch opening as a milestone achievement for the bank, especially as this is the first branch outside Lagos State where the bank already have 14 branches.

Bonilla added that the bank aims to contribute to the social and economic development of Ibadan and Oyo state in general by providing financial services to Micro, Small and Medium scale entrepreneurs in the state through a wide range of savings and lending products. Also speaking at the occasion, the Branch Manager, Mr. Seun Olowoyeye, reiterated that the state is peaceful and conducive for business, saying, “the inhabitants of the city are very accommodating and have started patronizing the banks array of deposit and lending products.” He added that over 700

individuals have opened savings and term deposit accounts with the branch and that over 900 clients have benefited from loans made available by the branch since it began operations in the state on July 15, 2014. The official opening was performed by the representative of Iyaloja of Ibadan, Mr. Olumide Oluwaraye, also the General Secretary, Aleshinloye market, and witnessed by market leaders, representatives from Aleshinloye market, new Gbagi market, Ogunpa market, Agbeni market, including staff and the entire Management Board of AB Microfinance Bank Nigeria Ltd.

Nigeria’s spirit market soars By PROVIDENCE OBUH & JOY UNUANE

he Nigeria Spirit market has continued to soar as developed markets keep shrinking, Luxeria Company Nigeria has said, as it unveiled its 2015 new collection of luxury spirits and wines. Luxeria is a Nigerian based Lifestyle Company distributing spirits and wines, sourced and selected from across the globe and have in recent times partnered with top brand in the country such as Moet Hennessy, Moet Chandon, among others to provide consumers with a range of luxury wines and spirit in its 2015 collection. Speaking at a press conference in Lagos, Managing Director, Luxeria, Ms. Maria Martinez, said, “Nigeria’s spirits market has been experiencing consistent growth rates year–on-year since 2007 while other developed markets are shrinking. We now need to rise to the occasion to meet the needs of our increasing sophisticated Nigerian clientele who have refined tastes and a distinct preference for prestige brands” Martinez hinted that in addition to Luxeria’s 2015 collection are limited edition items such as the rare Remy Martin Louis XIII Black Pearl Magnum with only 358 decanters made in the world and retails for N11 million. Also, the exquisite Faberge Eggs in Vodka and Cognac made with enamel, crystal, and 24-carat gold gilding and the Moet Nectar Rose Jeroboam Leopard Luxury edition bottle coated in 22-carat gold leaf and camouflaged with a leopard motif with only 60 bottles produced worldwide. She said that the company has a stock of these items especially reserved for the most exceptional clientele and have already been receiving numerous inquiries for purchase of these items, revealing that it will soon be adding a

Luxeria bar to the experience, allowing consumers to taste their fine range as well as a showroom where clients can browse and shop at their leisure. Earlier, Executive Director, Luxeria, Mr. Owen Aisien, said that there are no real developed platform for Nigeria consumers to have an experience while purchasing high–end prestige spirits and wines apart from buying abroad, adding that Luxeria is a service that was developed to allow client cut through the hassle of waiting to buy-free by bringing a readily available, service- led luxury experience right to their doorstep. He emphasised the need to meet the expectations of the Nigeria consumers who are in search for high end spirits and wines due to the increase in the Nigeria spirit market since 2007, while other developed markets are shrinking. Meanwhile, Luxeria’s Sales Director, Tiffany Barnes, who has over 15 years of experience in the service industry in the US says, ”There is a strong emphasis on the client experience at every touch point. We have trained and recruited an expert professional team that is well versed in the art of luxury drinks and is always available and happy to offer advice on the right selection for any occasion. In addition, express shipping and bespoke giftwrapping options are available to ensure our clients enjoy a premium service” According to official agents for Bollinger Champagne, Delamain Cognac and Macallan Single Malt Whiskey, “We look forward to partnering with Luxeria to bring exclusive events to the growing number of spirit and wine connoisseurs in Nigeria, such as private tastings, which will give this level of client an even deeper understanding of the craftsmanship, quality, and enjoyment behind our premium products”

28 â&#x20AC;&#x201D; Vanguard, MONDAY, NOVEMBER 10, 2014 Vanguard Markets | Monday, November 10, 2014 | Issue 018

$/N

Euro/N

155.3

155.4 155.3 155.2 155.1 155.0

194.4201

197.0 196.0 195.0 194.0 193.0 Th

ÂŁ/N

CNY/N

247.6414

25.4077

25.60 25.50 25.40 25.30 25.20

249.3 248.6 247.9 247.2 246.5 Th

Volatility ahead The Nigerian economy is sailing dangerously close to a perfect storm. The price of oil, the countryâ&#x20AC;&#x2122;s main export, has fallen sharply in recent weeks wreaking havoc on exchange rates with no end in sight as Saudi authorities play a game of chicken with shale producers in the United States. Add to that fears of fiscal indiscipline motivated by the political business cycle leading to elections in February 2015. Top it all off with an expanding terrorism-fuelled insurgency in the north-eastern part of the country. Totalled up it has led to nervousness among the large cohort of foreign portfolio managers on the Nigerian Stock Exchange, a pause on new investment, and general seat-belt buckling in preparation for a rough ride in 2015.

The country is like a household. There may be periods that your income may shrink because of some unforeseen circumstances and you must adjust. â&#x20AC;&#x201C; Dr. Ngozi Okonjo-Iweala, coordinating minister of the economy

â&#x20AC;&#x2DC;I can explainâ&#x20AC;&#x2122;. Ngozi Okonjo-Iweala, primus inter pares in the Federal Executive Council, stressing a point.

IGERIAâ&#x20AC;&#x2122;S POLICY makers are battening the hatches. Two weeks ago, the Central Bank of Nigeria expressed its concern over â&#x20AC;&#x2DC;the growth in foreign currency borrowings of banks through foreign lines of credit and issuance of foreign currency denominated bonds (Eurobonds).â&#x20AC;&#x2122; Figures released by Afrinvest, an investment bank, show that this year alone, the countryâ&#x20AC;&#x2122;s banks led by Zenith Bank, First Bank, Diamond Bank, and FCMB, have raised about $2 billion through this means, and $4

billion since 2011. Sterling Bank has joined the queue with plans to issue up to $200 million in Eurobonds in 2015. 7KHVH ÂżJXUHV KDYH VSDUNHG anxiety among the countryâ&#x20AC;&#x2122;s economic managers that the end of quantitative easing by the US Federal Reserve could cause a hike in rates with GRPLQR HÉŁHFWV RQ ERUURZHUVÂś balance sheets. To protect the banking sector, the CBN lowered the ceiling on foreign currency ERUURZLQJ E\ ÂżQDQFLDO LQVWLtutions to 75 percent of shareholdersâ&#x20AC;&#x2122; funds. Under the previous rule, Section 6 of the Guidelines for Foreign Borrowing for on-Lend-

ing by Nigerian Banks issued in November 2001, they were allowed to borrow up to 200 per cent of shareholdersâ&#x20AC;&#x2122; funds in foreign currency. According to a report by Reuters, the CBN is also seeking â&#x20AC;&#x2DC;to ease pressure on the naira as banks borrow more dollars to cover interHVW SD\PHQWV RÉŁVKRUH DQG DV demand for imported goods stays high at 80 percent of all non-food consumption.â&#x20AC;&#x2122;

Last week the apex bank issued a circular wherein it stated that â&#x20AC;&#x2DC;in order to maintain the existing stability of the for-

eign exchange market and to further strengthen the various policy measures initiated by the Central Bank of Nigeriaâ&#x20AC;&#x2122; it would henceforth exclude certain consumer-focused items from the Retail Dutch Auction System 5'$6 $ÉŁHFWHG ZHUH JHQHUDWRUV ÂżQLVKHG products, information technology, telecoms equipment, and invisible transactions. These account for up to 50 percent of forex demand at the auction. Importers who deal in these items would now have to source funds from the interbank foreign exchange market. The action provoked acute volatility in the interbank market causing the naira to

shed N2.75, falling to a low of N170.10 to the dollar. The CBNâ&#x20AC;&#x2122;s latest move is a policy admission that the federal government can no longer bear the burden of meeting forex demands in the face of dwindling foreign earnings as oil prices continue their downward spiral. Oil prices have fallen more than 40 per cent from a peak of $115 a barrel in July to a 5-year low of $82 per barrel this month. Crude oil sales account for 80 per cent RI WKH FRXQWU\ÂśV ÂżVFDO UHYHQXH and about 95 percent of foreign exchange earnings, writes Ayodeji Ebo of Afrinvest. By itself, the list of excluded items would not seem a big deal when misjudged as a oneRÉŁ DFW ,W LV QRW 2Q GHHSHU reading, it marks a big shift that going forward the belt hole is going to be clasped a couple of notches tighter.

â&#x20AC;&#x2122; schtupid The RDAS exclusion circuODU LV WKH ÂżUVW VDOYR LQ D ORQJ overdue restructuring of the Nigerian economy postponed

since the January 2012 fuel subsidy removal stalemate. The federal government backed down then due to political considerations in recognition of President Jonathanâ&#x20AC;&#x2122;s delicate mandate despite winning elections months earlier. The drop in oil prices presents the perfect excuse for a â&#x20AC;&#x2DC;shock therapy programâ&#x20AC;&#x2122; most likely to be launched no later than the middle of next year. It would include the removal of the subsidy on fuel, the devaluation of the naira, possibly a reset on the sharing formula of the excess crude account (ECA) between the federal government and state governments, and a slew of austerity measures. President Goodluck Jonathan and the Peopleâ&#x20AC;&#x2122;s Democratic Party need to win and win convincingly big too at the legislature and state levels to assure the political legitimacy required to carry out the wholesale reforms being SUHVVHG E\ LQWHUQDWLRQDO ÂżQDQcial institutions.

Source: FMDQ

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Vanguard, MONDAY, NOVEMBER 10, 2014 â&#x20AC;&#x201D; 29

VM2

ECONOMY

VM | Monday, November 10, 2014 | Issue 018

Volatility ahead

Okonjo-Iweala led the federal governmentâ&#x20AC;&#x2122;s team of negotiators at the successful talks with its bilateral creditors. In her defence, supporters argue that the accomplishment is adequate evidence that she would not go on pawn the countryâ&#x20AC;&#x2122;s future, and her reputation, to satisfy the electoral aspirations of the ruling Peopleâ&#x20AC;&#x2122;s Democratic Party.

W In a way the looming crisis is an answered prayer for those who have been calling for a recalibration of the economy. The coming elections are the main reason why the reforms cannot be pushed faster down the throats of Nigerians. Once that is out of the way the real business of swallowing the bitter medicine would begin. It is not a question of if, but when.

Dr. Ngozi Okonjo-Iweala, the co-ordinating minister of the economy, is quick to urge caution among political parties when discussing the budget in public debate. In an interview she gave to Foreign $ÉŁDLUV, a journal published E\ WKH LQĂ&#x20AC;XHQWLDO Council of Foreign Relations, a U.Sbased think tank, she advised that â&#x20AC;&#x2DC;our politicians need to realize that you do not politicize the budget. In a developing country, thatâ&#x20AC;&#x2122;s lethal.â&#x20AC;&#x2122; Whatever the ministerâ&#x20AC;&#x2122;s touchy-feely attitude to the subject, in these times of economic turbulence the budget is a legitimate area of civic discourse, however heated and partisan. In an election season QR VXEMHFW LV RÉŁ WKH WDEOH Since the beginning of the year, concerns have issued from various quarters over the ULVN RI LQĂ&#x20AC;DWLRQ DQG GLVWRUWLRQ of Nigeriaâ&#x20AC;&#x2122;s economic well-being due to the pressures of the political business cycle. There is a strong belief that federal and state governments will embark on reckless spending sprees in a populist attempt to shore up the self-explanatory stomach infrastructure, a new entry into the lexicon of Nigerian politics. Speaking with journalists at a recent engagement, the bespectacled technocrat, who earned the nickname OkonjoWahala for her insistence on due process and transparency when she served under the President Olusegun Obasanjo administration, brushed aside fears that government spending in the lead up to 2015 elecWLRQV LV VWRNLQJ LQĂ&#x20AC;DWLRQ The Harvard-trained economist gave assurances that the government has adhered strictly to the budget. The bulk of the spending that the administration of President Goodluck Jonathan will embark on will be tied to providing the logistical requirements necessary for the conduct of

Data visualization by Publican Media

the elections, she remarked. As if proof was needed, she pointed out that â&#x20AC;&#x2DC;we are in October and we are just running the budget the way it should be run.â&#x20AC;&#x2122; Although she has won credit for her masterful handling of the Nigerian economy during her two tours as minister RI ÂżQDQFH WKHUH DUH FUHHSLQJ doubts whether she has enough IRDP LQ KHU FDQ WR GRXVH WKH ÂżUH this time. Sensing the unease,

Published by

she felt compelled to tell her listeners that â&#x20AC;&#x2DC;despite the dwindling revenue of the nation due to falling crude oil prices and decrease in output, the nation is not broke, as feared in some quartersâ&#x20AC;Ś though the money WKDW FRPHV LQWR WKH FRÉŁHUV QRZ is a little bit small.â&#x20AC;&#x2122; While pitching the economyâ&#x20AC;&#x2122;s growth prospects, she VOLSSHG LQ WKDW WKH ÂżQDQFH ministry had facilitated a $14.1 billion loan on ad-

EDITOR: MIDENO BAYAGBON GROUP BUSINESS EDITOR: OMOH GABRIEL

In Association With

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

vantageous terms to support government projects. That set alarm bells ringing among many who have accused the Jonathan administration of going on a borrowing binge less than a decade after Nigeria reached a deal with the Paris Club of creditors to settle $30 billion in accumulated debt through a mixture of cash ($12 billion), and debt relief ($18 billion). The irony is not lost that

The fall in oil prices is a fallout of the contest between powerful Arabian producers led by Saudi Arabia, and shale producers in the United States. Rising tensions in the Middle East over the last decade has pushed the United States to focus attention on guaranteeing energy security from domestic sources. Technological advances like hydraulic fracturing and horizontal drilling have boosted oil production in the U.S. by more than 60 per cent since 2010 to 9 million barrels a day. This threatens the dominance of producers like Saudi Arabia. As a result, the Riyadh government is rallying members of the Organization of Petroleum Exporting Countries, the 12-member producersâ&#x20AC;&#x2122; cartel, in a longterm greedy counter-intuitive strategy to maintain supply levels in the face of falling prices. This it hopes will drive shale producers in the US out of the market. From the look of things, this game of intercontinental brinkmanship is not fazing the target. Chesapeake Energy Corporation, a major VKDOH SURGXFHU LV FRQÂżGHQW that shale production is here to stay. Archie Dunham, the companyâ&#x20AC;&#x2122;s non-executive chairman, told Bloomberg that â&#x20AC;&#x2DC;if the Saudis take the price down to $60 or $70 a barrel, you will see a slowdown in the U.S. But youâ&#x20AC;&#x2122;re not going to see it stop. The consequences for other OPEC countries are far more dire.â&#x20AC;&#x2122; Some companies like Texas-based EOG Resources have told investors that they can make money at $40 a barrel, reaping a 10 per cent rate of return. The antagonistic sentiment is best described by Scott ShefÂżHOG, chief executive of Pioneer Natural Resources, a large independent U.S. oil and gas company. He told the Wall Street Journal that â&#x20AC;&#x2DC;weâ&#x20AC;&#x2122;re in a battle with Saudi Arabia in regard to market share.â&#x20AC;&#x2122; So far, commentators have framed the contest along the lines of â&#x20AC;&#x2DC;ZKR EOLQNV ÂżUVW"â&#x20AC;&#x2122; This is not an either-or existential struggle. In reality, OPEC will

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.

need to adjust to the rise of USbased production. On its part, US producers will eventually reach an accommodation with the cartel to limit production in defence of global oil prices. All this time, Nigeria is anxiously watching from the side lines. Coupling concerns about slowing global growth with a strengthening US dollar as IXQGV Ă&#x20AC;RZ EDFN WR 86 WUHDVury bonds post-QE, and a glut in supply the projections are not heartening for Nigeriaâ&#x20AC;&#x2122;s SXEOLF ÂżQDQFHV Barclays and Goldman Sachs have issued reports in recent weeks that do not see a return to prices above $100 in 2015. Dr. Okonjo-Iweala drove the point home at her press EULHÂżQJ LQ 2FWREHU â&#x20AC;&#x2DC;The country is like a household. There may be periods that your income may shrink because of some unforeseen circumstances and you must adjust. If, in the past, you were indulging in very expensive food you may tell your children that it is time we just manage garri and if you have a spouse that is not working, you tell her please you must go and start a trade.â&#x20AC;&#x2122;

It was a lethal week. At the close of trading on Friday, the All Share Index had lost a whopping 11.52 percent. Since January, it has declined 19.61 per cent. The fall in oil prices is only one side of the story. The end of quantitative easing in pulling money back from the periphery to the centre.

Nigeriaâ&#x20AC;&#x2122;s economic management team is doing its best not to spook markets. It is calling the situation anything but a crisis. That is the unspoken rule. The coordinating minister herself attested this much ZKHQ VKH VDLG WKDW LQ GLÉ¤FXOW times â&#x20AC;&#x2DC;you would not jump out and begin to tell people that your condition is the worst of all and that you are dying. This is because you know that it is a temporary condition. That is the same with a country.â&#x20AC;&#x2122; The obvious take home here is that tough times do not last but tough countries do. While hapless Nigerians pray, the CME and CBN governor are praying harder. The two senLRU RÉ¤FLDOV PXVW EH IHUYHQWO\ hoping that they can maintain their juggling act without drawing too much attention to the fact. Until President Goodluck is safely re-elected to power with a comfortable majority the real work of dietary adjustment from expensive dishes to garri cannot begin. ;

Vanguard Media Limited, Vanguard Avenue, Kirikiri Canal, P.M.B.1007, Apapa. Website: www.vanguardngr.com ISSN 0794-652X

30 —Vanguard, MONDAY, NOVEMBER 10, 2014

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Vanguard, MONDAY, NOVEMBER 10, 2014 — 31

32 — Vanguard, MONDAY, NOVEMBER 10, 2014

When genius fails, Okonjo-iweala – 3 “Nigeria needs $5b”, Dr VANGUARD, October 28, 2014.

Okonjo-Iweala.

his is the third in the series titled WHEN GENIUS FAILS. The first two were written in 2008 about two individuals, Professor Chukwuma Soludo and Dr Ndidi Onyuike, Governor of Central Bank and Director General of the Nigerian Stock Exchange respectively, at a time when most people in Nigeria were not aware that banking “ConSOLUDO-tion” was failing and leading to banking disaster and that the NSE was heading for a crash. Mine was a lone voice shouting in the wilderness – until banking crisis became a reality and the Stock Market collapsed. Soludo and the former NSE-DG share something in common with the current Minister of Finance; they have cut “larger than life” images based on exceptional intelligence, competence, self-confidence, mixed, as usual, with a good dose of luck. Like good cream, they have risen to the top and captivated us with their “genius”. Their initial successes had invariably led to their downfall as managers of very important aspects of our national life and economy. The combination of Soludo’s and Onyuike’s monumental errors had lost millions of Nigerians, who invested in bank shares after “con-soludo-tion” trillions of naira on the Stock Exchange. Let me provide a few figures which would startle the readers of this page. On July 6, 2008, NSE Market Capitalisation stood at N11trillion; after shedding over N3 trillion from April 2008 – when I first warned Nigerians about imminent crash. Today, Market Capitalisation hovers around N12.3 trillion. But, if you remove companies like Dangote Cement, Seplat, etc which were not listed in 2008, the result is under N11 trillion. Obviously, for over six years, the NSE had laboured only to remain in one spot – and even that position is imperiled. The reasons are not difficult to discover as the chart below

C M Y K

demonstrates. BANK

J U LY 2008 PRICE

GTB UBA UNION ZENITH

N26.50 N32.89 N37.00 N42.00

NOVEMBER 2014 N25.20 N5.00 N7.50 N22.25

Clearly, all the over-celebrated Managing Directors of the leading banks, during “Con-soludo-tion”, left Nigerians with were losses which can never be recovered for those over 60. And, now the NSE is heading for another crash. But that is a subject for another day. The issue now is Dr Ngozi Okonjo-Iweala and her statement quoted above. Sounding less assured than she had ever been, the Federal Minister for Finance, and the Coordinating Minister for the Economy, treated the Senate to the most wooly response from a Chief Financial Officer, CFO, of any organisation or nation. Using the International Monetary Fund, IMF, not for the light it provides, but, for support, the way a drunkard uses a lamp post after having too many bottles, she left Nigerians with no clear idea as to how the funds will be raised or how we can avoid getting into the same trap again. She pointed out, quite rightly, that the Excess Crude Account, ECA, which once stood at $9bn was, at one point, depleted to $2.4bn – again without explaining why.

rying vainly to claim some credit for warning us about the need to save for the rainy day, which had arrived lately, with a vengeance, she provided no clue regarding the way forward. The reason is not hard to discover. To chart the way forward, we will need to look backwards, like the Biblical prodigal son, and find out how our revenue was dissipated by the Federal

government she serves, as well as the state governors – majority of who are members of the ruling party. Nigeria’s money did not just vanish into thin air. It was wasted (Centennial celebration, duty waivers granted to friends and religious organisations, conference of Africa’s First Ladies, Ministers purchasing expensive cars and hiring private jets, drilling big holes in public pockets, etc), stolen funds (stolen crude oil, embezzled fuel subsidy fund, kerosene import, and $10.8bn still unaccounted for by NNPC, etc). Even the village idiot knows that, at least, if we have had the $10.8bn in the Excess Crude Account, we would be $5bn ahead of the game. The nation was promised a report regarding how much was “unaccounted for” by the NNPC months ago – that was before the former CBN Governor was suspended. A serious Minister, serving a serious government, lamenting about the need for $5bn should have been the first to be raising hell about the $10.8bn. The Minister’s silence is deafening. ”The climax of every tragedy lies in the deafness of its heroes”, wrote Camus, 1903-1960. (VBQ p 90). Back in 2008, Soludo and Onyuike were warned on these pages to step down before the roof caved in on their “sand castles”. None heeded the advice. The tragedies occurred as predicted – to banks and to the NSE. Similarly, on these pages, in August, 2011, when Dr Ngozi Okonjo-Iweala was re-appointed Minister for Finance, in my column titled, WELCOME DR NGOZI OKONJO-IWEALA, I ADMIRE YOUR COURAGE, a warning was issued that she might be taking a needless risk with her reputation and that her second coming might not yield the same result for her and Nigeria she hoped it would. If the price of crude falls below $75 per barrel, new placards will be seen on the streets of every capital in Nigeria reading OKONJO-IWEALA MUST GO. What a way to end a golden career. “From the sublime to the ridiculous, there only one step.” Thomas Paine, 1737-1809. (VBQ p 236). Nigeria needs a Minister who can manage acute funds scarcity, not surplus. She is not the person who can do that. Visit: www.delesobowale.com or Visit: www.facebook.com/biolasobowale

Vanguard, MONDAY, NOVEMBER 10, 2014 — 33

Homes & Housing Finance

‘Nigerians spend N330bn on Dubai property yearly’

t has been revealed that Nigerians spend as much as $2 billion (about N330 billion) every year to buy houses in Dubai, the commercial hub of the United Arab Emirates (UAE). Chief Executive Officer, Wrothams Windsor, Mr Richard Vedelago, made the revelation at the commissioning of Wrothams Windsor office in the Central Business District of Abuja. He said many Nigerians have interest in Dubai because it is easy to enter the UAE. According to him, Dubai has become Nigerians’ favourite destination, not only for property investment but also for shopping and other things. Wrothams Windsor is an investment consulting company specializing in property products. Its mission is to create a gateway for Nigerians to actively invest in high yielding property in the UK, the US and all around the world.

Presidential aspirant promises 1m houses yearly

Presidential aspirant on the platform of All Progressives Congress (APC) in the forthcoming general elections, Mr. Sam Nda-Isaiah, has promised to construct one million housing units every year, if voted into office. Nda-Isaiah stated this in his manifesto during the official declaration of his intention to run for the nation’s highest political office in Minna, Niger State. He said that funds to execute the project would be sourced from the over N4 trillion pension fund, among other strategies. “Our government shall construct one million new housing units yearly, for two reasons: one, to bridge the housing deficit and, two, to create jobs. It has been estimated that building one million housing units can create up to 30 million new jobs as several people including engineers, architects, plumbers, block makers, insurance companies, mortgage banks, estate agents, cement, tile and paint sellers, food vendors, furniture manufacturers, etc would be engaged.

Moribund mortgage banks too toxic for bail-out — NDIC Stories by YINKA KOLAWOLE

HE Nigeria Deposit Insurance Corporation (NDIC) said it decided against bailing out some of the moribund primary mortgage banks (PMBs) because of their very toxic state, noting that doing so might have done more harm than good. Managing Director, NDIC, Alh. Umaru Ibrahim, stated this in Lagos, last week, when the House of Representatives Committee on Banking and Currency visited the Corporation as part of its oversight functions. “We would have loved to bail out some of the PMBs, but out of five of them that approached the Corporation for bail out, none of them met the conditions set for them. We did not feel it was safe to commit public funds into bailing them out,” he stated. Ibrahim told the visiting delegation led by the Committee’s chairman, Hon. Chukwudi Jones Onyereri, that in 2014, NDIC provided deposit insurance coverage to 24 deposit money banks (DMBs), 832 micofinance banks (MFBs) and 82 PMBs. He said a number of the 82 PMBs experienced serious difficulties in terms of capital adequacy and risk management. He added that some of them that were not

able to meet the new capital requirement by Central Bank of Nigeria (CBN) of N2.5 billion or N5 billion for State and National operating licences, respectively, are already moving towards merger and acquisition. According to him, PMBs that are not able to meet with the capital requirement by the end of this year will be allowed to go under, adding that some of them had already closed shop. The NDIC boss noted, for instance, that the CBN had sanctioned the acquisition of

Union Homes Savings and Loans Plc by ASO Savings and Loans Plc, which according to him, is expected to be completed by early 2015. “This is to save numerous depositors of Union Homes and to ensure that it is able to continue to provide homes for Nigerians,” he added. Recall that as part of CBN’s approved restructuring exercise, Union Bank of Nigeria Plc decided to sell Union Homes, one of its subsidiaries. After a bidding process, ASO Savings was selected as the preferred bidder in

October, 2013. Towards achieving this objective, ASO Savings proceeded to execute a Memorandum of Understanding (MOU) with Union Bank under the supervision of the CBN. In furtherance of the acquisition, Aso Savings had since filed notice of intention to notify the NSE about the impending acquisition of Union Homes. This is part of the listing requirements of NSE that all quoted companies inform it of any information ahead of its release to the public and before the party takes any action on it. Both ASO Savings and Union Homes are quoted on the NSE.

Architectural design of an up-market estate in Abuja

Ogun to partner financial institutions on homes mortgage O

GUN State government has commenced moves to enter into partnership with various financial institutions to ensure that affordable housing is provided for residents of the state irrespective of their social status. Governor Ibikunle Amosun stated this recently at the commissioning of a 105apartment Orange Valley Estate located at Oke-Mosan in Abeokuta, the state capital. He said in a bid to deepen home ownership among residents, especially civil servants, state-owned housing agencies have signed agreement with financial institutions for loans in form of mortgage to enable them secure loans. Amosun also explained that

the new drive for housing projects and infrastructure is the best option to provide conducive environment for prospective investors showing increasing interest in establishing industries in the state. “Ogun State has witnessed remarkable increase in economic activities with an attendant increase in human population in the last three and a half years. This is not unconnected with the rapid infrastructural development, which has made our state an investors’ destination of choice. “However, this desirable development is not without its own challenges, especially as it concerns accommodation. But, as a pro-active government, we mandated the various relevant agencies to

frontally tackle the housing challenges and provide affordable housing to the people. It is heart-warming that all these agencies- Ogun State Property and Investment Corporation (OPIC), Housing Corporation, Ministry of Housing, have all continued to live up to expectation. “Our Administration is totally committed to our vision of affordable housing for our people, not just as part of our Urban Renewal programme, but also because shelter is a basic need of all people. In this direction, all relevant government Agencies have been strengthened. But, we also appreciate the fact that we do not have the monopoly of funds or wherewithal. For this purpose, our housing agencies particularly, OPIC and Housing Corporation are partnering with some financial

institutions to provide loans in form of mortgage to deepen home ownership for our people,” he stated. Amongst housing projects under construction in the state are: OPIC’s Alamala Housing scheme, which has just commenced and will serve lower income earners and also have zones for more public servants’ housing; and OPIC’s Agbara Housing scheme, which is designed for the lowlower/middle income earners. Others are Housing Corporation’s Plainfield Estate, which is designed for middleincome earners; Orange Valley Estate, designed for middle to upper income earners; and Ministry of Housing’s Three Hills Estate, Kobape, which is a new town designed for the ultra high- income earners and with districts for more middleincome earners. C M Y K

34 — Vanguard, MONDAY, NOVEMBER 10, 2014

Aviation

National e-ID card not substitute for international passport, says NIMC

By LAWANI MIKAIRU & DANIEL ETEGHE

By LAWANI MIKAIRU

he National Identity Management Commission, NIMC, has cleared the air on the recent report that the National eIdentity Card will soon be used as an alternative travelling document to the international passport . Reacting to the report, Head, Card Management Service, NIMC, Mr. Tunji Durodola, said "the Commission cannot be canvassing the use of the new national e-ID Card as an alternative to the international passport when that is the exclusive statutory responsibility of the Nigeria Immigration Service (NIS).” According to Durodola, although one of the 13 applets found in the National e-ID Card has travel functionality for certain types of travels, the decision to adopt the e-ID Card and the operational modalities remain the responsibility of the NIS. “If and when it decides on this, the process can then be defined and implemented by the NIS which has the sole responsibility for migration management in Nigeria as the issuing authority for passport and travel documents in line with ICAO regulations.” He explained that even where there are regional requirements in the ECOWAS, which is part of the reasons for

SEMINAR - From left, Mr Chukwuemeka Iwelumo, Chairman, League of Airport and Aviation Correspondents, LAAC; Mr Chris Aligbe, MD, Belayane Konsult; Eng Olufemi Ogunade, Director, Maintenance, Federal Airports Authority of Nigeria FAAN and Eng Olumuyiwa Adegorite, G M, Procurement, Nigerian Airspace Management Agency, NAMA during the 20th Annual League of Airport and Aviation Correspondents LAAC Seminar held at NCAA Annex, MM Airport, Ikeja, Lagos. the inclusion of the ICAO-Travel functionality in the e-ID Card, it can only be adopted and implemented by the NIS which has the responsibility by law to provide international passport and related documents for citizens who wish to travel out of the country. He said that the Commission was deeply embarrassed by the recent reports and therefores clarified that although the applet on the Card issued to Nigerians is a bonafide Machine Readable Travel Document (MRTD), recognized

by the International Civil Aviation Organization (ICAO), the NIS has to approve its use before it can become a travel document recognized by NIS and therefore all such institutions with which NIS has bilateral and or collaborating/ reciprocating relationship because travel documents are the sole, statutory and exclusive responsibility of the NIS. Durodola said: “For any country to recognize the use of the National e-ID Card for cross-border travel, its usage must be the product of a

Foreign airlines earned N231bn from Nigeria in 2013 — NCAA boss By LAWANI MIKAIRU & DANIEL ETEGHE

he Director General, Nigerian Civil Aviation Authority, NCAA, Captain Usman Mukhtar has said that foreign airlines are making fortunes in the Nigerian aviation industry while local airlines are still playing from the fringes. According to Capt. Mukhtar, the foreign airlines made N231 billion in tickets sales in 2013, while domestic airlines made N73 billion in tickets sales in the same year. He disclosed this while presenting a keynote address at the 20th Annual Seminar of the League of Airport and Aviation Correspondents (LAAC). Mukhtar said: “In 2013, the total value of tickets sold by domestic airlines was N73 billion. On the other hand, the foreign airlines sold tickets worth N231 billion in the same year. “Domestic airlines were able to ferry 5 million passengers across Nigeria in 2013.On the West Coast route,277,000 passengers were moved. In Intra-African route 437,000 passengers and on the Intercontinental route 1.4 million passengers were airlifted.” The NCAA D-G who was represented by C M Y K

NAMA to train 40 ATCs in Egypt

Alhaji Abdullahi Adamu, the Director, Consumer Protection said all these were achieved with the domestic airlines operating a total of 63,000 frequencies across the country while on the West Coast there were 4,000 frequencies, Intra-Africa 4,000, and intercontinental 7,300 frequencies. He added that in recognition of the increase in the volume of passengers, the Directorate of Consumer Protection (DCP) has intensified efforts to process complaints and ensure comfort of air travellers. According to him, “Nigeria has therefore become an attractive destination for foreign airlines and ceaseless application for additional frequencies. At present Nigeria has Bilateral Air Services Agreement, BASA, with 78 countries. However, some of these are not being utilised. In order to strengthen and widen our BASA with existing and new countries, Nigerian delegates will be attending an ICAO Air Services Negotiation Conference (ICAN 2014) from 17th – 21st November 2014 at Bali, Indonesia.” Speaking on the impending ICAO audit he said “the ICAO Audit conducted in a few years back, Nigeria scored very high marks.

bilateral agreement and NIS runs the show in that respect, we have only provided an early and appropriate means of achieving that so we do optimize the resources we have as is done in Europe. That’s all we did. For this to be possible, the Nigeria Immigration Service alone not even with NIMC, must approve the process.” He regrets the impression that has been given and the embarrassment to the Management of both NIMC and the NIS who have a very cordial and meaningful working relationship on the management of the ongoing enrolment of citizens and legal residents, noting that “NIMC has enough on its hands; managing the central depository of a single version of truth on individuals identities in the country, to want to canvass the takeover of the statutory responsibility of another agency.” “We are mindful of the developments in the ECOWAS Region about national identity cards and just wanted to be ready ahead of time, but while informing and educating Nigerians on the use cases of the Card, we did not at any time say that the Card can be used as an alternative to the international passport; but it was necessary that Nigerians know it has an applet that can function as a travel document,” he said.

total of 40 Air Traffic Controllers are to proceed for training this month on Performance Based Navigation, PBN, in Cairo, Egypt as part of efforts by the Nigerian Airspace Management Agency, NAMA, to enhance capacity of its critical manpower in operations. According to the Managing Director, NAMA, Engr. Ibrahim Abdulsalam, “this training is part of the wider effort of management in ensuring the continuous training and retraining of personnel to keep pace with dynamics of evolving technology.” Engr. Abdulsalam who was represented by the acting Director of Operations, Mr Edward Ogedegbe at this year ’s Nigerian Air Traffic Controllers Association (NATCA) Annual General Meeting (AGM)which took place in Kano ,also disclosed that another five Air Traffic Controllers have been billed for Wind Shear Equipment training in Germany by December, 2014.

Chidoka charges airport managers on service delivery By LAWANI MIKAIRU

he Minister of Aviation, Chief Osita Chidoka has charged managers of airports in Nigeria to improve on service delivery in line with the transformation going on in the aviation sector. Chidoka, who was represented by Mr Chidi Nkwonta, Special Assistant to the Minister on Performance Monitoring, said this at the opening of the Ministerial Performance Management System Orientation for Regional and Airport managers, in Lagos. According to Mr Yakubu Dati, General Manager, Corporate Communications, FAAN, the training was a follow up to the meeting held by the Minister of Aviation with Airport Managers where key performance indicators were introduced. Dati also said the Managing Director of FAAN, Engr Saleh Dunoma earliar commended the initiative and charged airport managers to improve on service delivery and performance.

Vanguard, MONDAY, NOVEMBER 10, 2014 — 35

Business & Economy

Nigeria attracts $59.6bn FDI in 3 years — AGANGA By BABAJIDEKOMOLAFE, FAVOURNNABUGU& FRANKLINALLI

HE Federal Government’s Transformation Agenda for the economy has attracted $59.6 billion foreign direct investments (FDI) into the country from all over the world since 2011-2014. The investments cut across cement, sugar, petrochemical, automotive industry and have created jobs for Nigerians and revenues for the government. The Minister of Industry, Trade and Investment, Olusegun Aganga, disclosed this, weekend in Abuja during the ministry’s 4th media workshop with the theme ‘Building a greater nation through sustained transformation.’ ‘In 2011 FDI was $15 billion, it increased to $30 billion in 2012 and further went up to $46 billion in 2013 and $59.6 billion current year,” he said. He attributed the achievement to President Goodluck Jonathan’s Transformation projects for the economy, saying “”In 2011 when we took over, there was no comprehensive and coordinated industrial policy for the country. There was no strategy to diversify our economy and revenue base.

The manufacturing contribution to our GDP was very low, at less than four per cent. Capacity utilization was very low, while massive jobs los was prevalent. There was no emphasis on value addition. For decades, our country had specialized in exporting raw materials. We had weak industrial structures and were dependent on importation of most of our products. That was the situation in 2011 before President Jonathan’s administration came on board. What we did to change the situation was the introduction of Nigerian Industrial Revolution Plan, NIRP, roadmap for industrialisation and linkages to other economic sectors. “In order to reverse the ugly trend by diversifying our economic and revenue base, President Jonathan in February 2013, launched the Nigeria Industrial Revolution Plan (NIRP) as a major gamechanger. This was based on the principle that no nation has successfully moved from being a poor to rich nation without a robust industrial and services sector.” Where we are now Cement: “In 2011, the installed capacity in the cement sector was 16.5 million metric tons yearly. Today it is 39.5 million metric tons. When we came in, there were about $9 billion investment in the

cement sector but today it is more than $15 billion. In 2011, the direct and indirect jobs from the cement sector was less than 600, today the sector provides about 2.2 million direct and indirect jobs. We spent at least $5.2 million in the importation of cement but since 2013, the administration of President Goodluck Jonathan has not issued any import license. “Our main focus for the cement sector, going forward, are to improve the standard of cement and to bring the price down. Cement manufacturers must do it because we do not do price regulation. There was announcement a few days ago that one of the cement manufacturers is bringing down the price of its 32.5 by 40 per cent from N1, 700 per bag to N1, 000. The 42.5 is coming down from around N1, 800 to about N1, 150 per bag. Automotive Industry: “In 2011, we did not have a comprehensive automotive policy on the ground. Today, in the automotive sector, over 22 companies have signed technical commitments to manufacturing or assembling cars in Nigeria. By early next year, some of them will be in the country. The number of investments that went into the automotive industry in 10 years was $62 million but in

less than one year, we have attracted about $150 million, and there are over $300 million coming up 2015. The numbers of automotive test laboratories were nil in 2011, but today we have three. The numbers of universities offering automotive engineering were nil but today we have about four of them. The manufacturing capacity utilization for the automotive sector has also gone up by 40 per cent. In the sugar industry, the number of jobs in 2011 before President Goodluck Jonathan’s administration was 3,860 but today, it is about 180,000. Investment in sugar cane was $100 million but today it is N3.2billion.” Sugar: “The four major players currently in the industry are: Dangote Sugar Refinery (DSR), (which acquired 95 percent of Savannah Sugar) BUA Sugar Refinery, Josepdam Sugar Company, and new entrant Flour Mills of Nigeria. Available records on installed refinery capacity show Dangote Sugar has 1.44 million metric tons, BUA 720,000 metric tons, and Flour Mills of Nigeria (Golden Sugar Company) commenced operations of a 750,000 metric tons plant in June 2013. Some new investors are entering the market place with the aim of expanding capacities at older sugar estates

Arco Group unveils new strategies to break into global market

ith the incorporation of

ARCO Group Plc Arco Petrochemical Engineering Company will now formally cease to exist. The newly incorporated Arco Maintenance and Engineering Ltd (AMEL) will take over the maintenance and engineering functions. By this development, AMEL becomes a subsidiary of Arco Group Plc. The Chairman of the Board of Directors of Arco Group Plc, Chief Joseph Akpieyi reeled out these and other far reaching structural changes in the Group during the nd 32 Annual General Meeting of the company in Lagos. Chief Akpieyi informed the shareholders that the process of obtaining ISO/TS 29001:2011 Standard Certification for Quality Management System for all the operating companies in Arco Group had commenced. He said that the step being taken in this direction was to leverage on the success of one of Arco’s subsidiaries, Arco Pipeline Solutions Ltd that successfully obtained the ISO 9001:2008 Quality Management Certification with Bureau Veritas in 2013.

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E- Commerce

E-payment stakeholders seek tougher measures against e-fraud Stories by JONAH NWOKPOKU

ayment processors, financial services providers and other players in the information and communication technology including the judiciary and the law enforcement agencies in Nigeria have called for tougher measures to combat electronic payment related fraud in the country. The stakeholders made the call at the just concluded 5th annual Payment Systems & Fraud Conference 2014 organised by Electronic Payment Providers Association of Nigeria (E-PPAN), in Lagos. The conference which had theme: ‘Unbundling the Criminal Justice Process in a Digital Economy,’ was a strategic effort by EPPAN at fighting cyber crime in the country. Delivering a keynote address at the conference, Chief Judge of Lagos State, Justice Oluwafunmilayo Olajumoke, said e-payment industry in Nigeria is prone to manipulations and attacks by fraudsters, and that it has become imperative for the criminal justice sector to develop the appropriate tools and strategies for combating ecrimes and e-fraud in the country. Also speaking, Executive Director of Nigeria Inter-Bank Settlement System, NIBBS Mrs Christable Onyejekwe, said Nigerian businesses especially in the finance sector incur huge cost preparing against fraud. She noted that e-fraud comes with enormous social, financial and economic cost which should have been channelled to business expansion and raising quality of life. Represented by NIBBS’ Chief Risk Officer, Mr. Osioke Ojior, she charged financial institutions in the country to step up their fights against electronic and other related financial fraud.

According to her, some banks find it difficult to notice when they are breached, resulting to several billions of naira loss to fraudsters yearly. She disclosed that according to e-fraud report available to NIBSS between January and September, 2014, Nigerian banks have already lost over N4 billion from 916 attempted frauds. Other financial players lost about N32 million in 30 attempted attacks. Earlier in a welcome address, Chief Executive Officer of EPPAN, Mrs. Onajite Regha, said that, compared to any

other time in its history, the epayment industry faces an overwhelming variety of security challenges as the transaction environment grows in size and complexity. Regha said that with more stakeholders, payment channels and the users driving the use of payment cards, the need to enhance the integrity of an increasingly dynamic system while ensuring global acceptance is more important than ever. She noted that, “On a global level, fraud continues to migrate from more secured to

LAUNCH - From left: Mr. Chikwendu Madumere, Mr. Babatunde Savage, Chairman, ICC Nigeria and Chief Anthony Idigbe, SAN, Chairman, Planning Committee, ICC Mediation Rules Launch, at the Nigeria Launch of ICC Mediation Rules in Lagos.

Jovago partners transport firms to boost access to hotel booking

ovago.com has announced partnerships with some transport companies in Nigeria in order to make hotel bookings more accessible to travelers within Nigeria. The company said it has so far partnered with over 20 bus transport companies including Ekene Dili Chukwu,

Izuchukwu Transport Nigeria Limited and has also kicked off a white label partnership with one of Nigeria’s largest bus transport companies – God Is Good Motors, making Jovago.com their official hotel partner. This means that Nigerians visiting the God Is Good

Citrix announces DataGroupIT as distributor

itrix, a mobile workspace provider has announced the appointment of DataGroupIT as its second Value Added Distributor (VAD) in West and East Africa. Citirx said this was in response to the growing demand for virtualisation, mobility management, networking and cloud services in the region. According to them, DataGroupIT will distribute all Citrix solutions, including network optimisation technologies, to resellers across the region to ensure C M Y K

less secured regions and channels. This obvious shift is accelerated by an increasingly adept and organised criminal community that seeks to exploit security vulnerabilities and fraud. Criminals are targeting not just unmonitored, stand-alone, point-ofinteraction devices, but also launching sophisticated attacks on the private networks of well-known entities, such as major data processors and top-tier merchants”.

organisations have the correct infrastructure in place to support the surge in demand for mobile workspaces. As a Value Added Distributor, DGIT will distribute the full range of Citrix products and solutions across West and East Africa, including the Citrix Mobile Workspaces Suite, as well as Citrix XenDesktop, XenApp, XenMobile, NetScaler and CloudBridge. The latter are integral to ensuring optimal load balancing and network optimisation as organisations look to deploy enterprise mobility solutions.

Motors' website can now easily find and book from over 200,000 hotels around the world and over 5,000 hotels in Nigeria. Speaking on the partnership, Director, C o r p o r a t e Communications/ Strategy, God Is Good Motors Limited, Ibemere Samuel, said: “We have realized that a lot of Nigerians are moving online to transact businesses, this is why we have created a standard website which would be easy for customers to book bus tickets from. With the Jovago partnership, our passengers can now also find their hotels easily, making their trip as seamless as possible.”

Aflix unveils Affiliate Partner Programme

frica’s Video on Demand mobile streaming service, Aflix has introduced an Affiliate Partner Programme. The Affiliate Partner Program will provide an opportunity for participants to earn recurring revenue while introducing Africa’s newest VOD service to the market. Those who subscribe to the affiliate programme will earn recurring monthly commissions, Value Added Service, have an opportunity to bundle Aflix with their existing products as well as have access to Aflix executives to help them drive subscriber numbers. Speaking on the affiliate partner programme, Director of Business Development, Nyasha Mutsekwa said: “Aflix’s affiliate programme is an extension of our dream to empower people while providing quality entertainment to our African audience. This kind of programme presents us as socially responsible business, which we are, as we do not just seek to get but also to give back even before we have started getting. “This will further address the enormous challenge of youth unemployment which is quite high within our target market. With the internet as a marketing tool, this initiative provides a platform for people to earn a living while helping businesses to grow.

Kaymu launches hub in Port Harcourt

igeria’s online marketplace,Kaymu.com.ng, which recently expanded operations to Abuja, has launched a hub in Port Harcourt. Kaymu said the expansion is one of its strategies to bridge the gap between buyers and small and medium scale enterprises across Nigeria, adding that, “With plans to open hubs in more cities before the end of the year, Kaymu promises to revolutionise the conventional marketplace by providing a safe platform for businesses to be conducted.” Speaking on the expansion, Kaymu’s Managing Director, Evangeline Wiles said: “Buying and selling have become so easy and convenient with the rise of e-commerce particularly with Kaymu’s business model, the online marketplace. We aim to offer the best and safest platform for buyers and sellers in Port Harcourt.”

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Business & Economy By CHIOMA OBINNA

manufacturing companies in Nigeria continued to face challenges of poor power supply, the Managing Director and Chief Executive of SIMS Nigeria Limited, Chief Simeon Eyisi, has said that manufacturing will explode if the power sector reform agenda of President Goodluck Jonathan succeed. Eyisi in a chat shortly after the official opening of Samsung Premium Brand Shop in Lekki, Lagos posited that there are thousands of good reasons why high cost of electricity should fall drastically in the country. Eyisi who lamented the numerous challenges faced by manufacturing companies due to poor power supply said: “As with most enterprises operating in Nigeria, SIMS is bedevilled by the challenges in the environment, particularly epileptic power supply that compels companies to rely on diesel generators and the exorbitant cost of funds from the banks. He further noted that customs duty regime does not favour local assembly of products from CKD (completely knocked down) parts as against fully built units imported in readyto-use format. Noting that current duty on CKDs was between 5 – 10 percent; Eyisi argued that if the government could increase this substantially, it would make more sense and encourage more local production of goods being imported at present. The immediate benefit if this, he said, will be increase in employment opportunities which will reduce social

Manufacturing will grow if power sector reforms succeed – SIMS boss problems associated with unemployment. “The high rate of interest charged by banks on funds they extend to businesses is another major headache that has become a migraine that hamstrings the operations of the companies and discourages new investments. “Our two major challenges are energy and high interest rates. You cannot run

manufacturing enterprise without electricity that is affordable. But we know that public power supply in Nigeria is a big headache. We have had to depend on running huge diesel generators to be able to produce. This makes the cost of production quite high and affects profitability. It does not allow companies here to compete with organisations that get funds at a cheaper rate.

“When we borrow at 18 percent from the banks, you know that you cannot compete with someone who got facilities at single digit rate like 9 percent. If the government could look into this, it will help manufacturers greatly. That is one thing the Federal Government and the Bank of Industry should critically look at and ameliorate the burden of manufacturers.

EXHIBITION - Guest Speaker\Executive Director Small And Medium Enterprise Bank of Industry (BOI), Mr Waheed Olagunju,2nd left Inspecting Products Exhibited at the 2014 Raw Material Exhibiton Raw Material Research and Development Council (Rmrdc) in Lagos recently with him are from left Alhaja Mulikat Ogunlola of Tukawon Ventures; Mr Toyin of Corporate Communication Department, BOI; Mr Samuel Olaniyan of Rmrd and Mr Kola Adewole of Strategy Planing Department BOI.

New pension collection system to come up January By ROSEMARY ONUOHA

HE Pension Fund Operators Association of Nigeria, PenOp, says it is set to launch its Electronic Pension Contribution Collection system, EPCOS, from 1st of January 2015 which is aimed at making remittances to the Contributory Pension Scheme, CPS, seamless. Accordingly the platform will enable employers in the contributory pension scheme monitor their contribution as well as make it possible for defaulters to be sanctioned according to the Pension Reform Act 2014. Managing Director of UBA Pensions Custodian, Mr. Bayo Yusuf stated this at a two day workshop organized for Insurance correspondents in Lagos. According to Yusuf the EPCOS is a platform that will make compliance to the Contributory Pension Scheme, CPS, easy and seamless for employers in the country. He said that the EPCOS which is hosted by the Nigerian Interbank settlement System, NIBSS, does not require an employer to have e-banking before connecting to the platform. According to him, employers will not pay any money to log on to the platform because it is absolutely free and PenOp came up with the initiative to encourage employers to comply to the CPS.

Consumers berate NLRC's incursion into sales promo By PETER EGWUATU

EU, UNIDO partner CPC to boost consumer protection in Nigeria C By FAVOUR NNABUGWU

HE European Union, EU, through United Nations Industrial Development Organisation (UNIDO) have partnered with the Consumer Protection Council, CPC, with the aim of raising the bar of consumer protection in the country. The partnership, which is under the National Quality Infrastructure (NQI) Project, has capacity building of the Council’s staff, consumer awareness and quality training for businesses as its components. Making this known last week at the opening of the training of the Council’s workers on the organisation’s enabling Act, UNIDO’s Chief Technical Advisor on the

NQI, Mr. Charles MalataChirwa, said the capacity building is one of the programmes set out under the NQI “to support the Council to achieve its mandate”. Malata-Chirwa, representing the UNIDO’s Country Representative at the event held in Abuja, disclosed that there are five major components of setting a quality policy and associated technical regulation under the Quality Infrastructure Project, stating that while some of the programmes would address the supply side of the economy, the support to CPC is to enhance the demand side. According to him, under the NQI, UNIDO, through the funding from EU, would establish an accreditation body, that would be internationallyrecognised, set up a metrology institute, which would also be internationally

recognized and “hopefully with the assistance and collaboration of the private sector, we will initiate conformity assessment body”, all of which, he said are on the supply side. The Chief Technical Advisor stated that NQI identified CPC as a key stakeholder and one of the beneficiaries of the five components of the project because of its relevance to the nation’s economic growth. He added: “CPC deals with the demand side, the consumers. And we cannot have a quality infrastructure which only looks at the players in the market without also looking at the consumers. It is for that reason that we believe that this in-house training will enable us reach out to the consumers in a more structured and in a more effective way. “Only if we know our strength and only if we know our

jurisdictions, will we be able to engage the consumers so that they on their own will be able to demand from the industrialists and other players in the market, the quality that is required. So through that process, we see the entire quality infrastructure in Nigeria becoming complete and will be able to compete at the international level”, he asserted, pointing out that “all this is happening through the auspices of the European Union, which has funded the project with around 12 million Euro, about 4.3 billion Naira”. Speaking earlier, CPC’s Director General, Mrs. Dupe Atoki, commended UNIDO for its decision to include the council in its NQI Project, noting that the organization made a good choice “that is going to give you proper deliverables that will support your investment in this project”.

ONSUMERS have criticised the National Lottery Regulatory Commission (NLRC) for compelling companies engaging in Consumer Sales Promos, CSPs to pay levies. The consumers, who stated their views to Vanguard in various fora said it was illegal and unlawful for the NLRC to collect fees from companies engaged in sales promotion. For instance, a legal practitioner, Mr. Gbolahan Gbadamosi has declared that it is unlawful for the NLRC to compel companies engaging in sales promotion to pay levies. According to him “ NLRC is not operating within the confines of the law establishing it and has no power to close down any business premises for failure to pay the levies the commission imposed on them. Gbadamosi, who is an Associate with Rickey Tarfa and Co, a firm of Legal Practitioners and Notaries Public, stated that CSP is a typical marketing technique that adds value to a product in order to achieve specific marketing goals; stating that some companies use CSPs for short term promotions which are not within the contemplation of the promoters of the National Lottery Act 2005. C M Y K

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40— Vanguard, MONDAY, NOVEMBER 10 , 2014 Email:lesleba@lesleba.com, lesleba@gmail.com Blog page:www.lesleba.com/blog2 Website: www.lesleba.com Tel:0805 220 1997

HERE are genuine public concerns that with the receding sales price of crude oil in the international market, in recent months, our heavy dependence on oil revenue may diminish any promising prospect for inclusive economic growth in Nigeria. Although, sluggish economic growth in Europe and China and the rapid development of shale oil, together with increasing sources of crude oil supplies, have all combined to bring down crude oil prices, however, the precipitate price fall within the last four months, may, according to seasoned analysts, also be the result of the desperate auctions of crude oil at ridiculously low prices by successful warlords in strife torn nations in North Africa and the middle East. The regular theft of between 10-20% of Nigeria’s annual crude output are probably also sold cheaply as goods which allegedly fell off the proverbial back of a lorry. Ultimately, the world community will become the real losers as such revenue accruals are deployed by contending warlords to purchase of weapons and critical support for terrorists and insurgents who seek to destabilise domestic and international security in the same manner that illicit funds from fraud, narcotics and human trafficking also adversely influence capital flows and the world economy. Indeed, if the current trend persists, and insurgency in oil producing nations also remain uncaged, crude oil price may actually fall below $50/barrel as in 2008, and wipe off over half of Nigerian’s current budget revenue expectations. In such event, there will be a revenue shortfall of about N1tn which is normally allocated for capital expenditure in annual budgets; government may consequently become forced also to trim down its unpopular

Can CBN save the Naira? and insensitive recurrent budgets. In reality, workers’ lay off will not be a welcome solution to revenue shortfalls as this may create industrial strife and make government more unpopular; furthermore, the National Assembly will also be reluctant to endorse any budget proposal that would reduce the huge, inappropriate income expectations, allowances, and slush funds to which Legislators and privileged civil servants have become accustomed. Thus, both Legislators and civil servants will seek to maintain their existing income levels if possible; nevertheless, government may acquire additional loans because of revenue shortfalls to fund its budget at existing levels; however, the accumulation of such loans could horrendously increase current annual debt service charges from about N600bn to closer to N1tn or over 20% of budget. Regrettably, in such event, government and its agencies will seek to borrow from external sources because of the attendant cheaper cost of such funds below 7%! There will however be problems between national sovereignty and the selfish dictates of powerful external creditors to contend with if we became heavily dependent on External loans! Alternatively, government may decide to make up for revenue shortfalls from crude oil by devaluing the Naira; in other words, where each state for example got N160m allocation for $1m dollar revenue, each state would now get N200bn for the same export revenue, if the Naira exchange rate became officially devalued, to say, N200=$1.

Unfortunately, such a weaker Naira exchange rate will immediately increase manufacturing costs by over 20% and make made in Nigeria goods uncompetitive, against, often subsidised imports. Ultimately, Nigeria’s industrial landscape will further contract as was the case after the oppressive devaluation of Babangida’s administration. Naira devaluation will also instigate, higher production costs which will drive higher prices across the board for most goods and services; regrettably however, income earners, particularly the majority who currently live on less than $2/ day will also become poorer as their N18,000 minimum wage will buy less and less goods and services from the market. Although, salaries and allowances of Legislators and public servants may remain the same, in nominal terms after

In reality, the Naira exchange rate is also eternally challenged by the constant excess of Naira liquidity pitched against CBN’s monopoly of the forex market and the rationed dollar supplies to the market

devaluation, however, in real terms, the total income package will still not command the erstwhile purchasing value; in effect, both the rich and the poor will become relatively poorer! Worse still, further Naira devaluation will make it exceedingly difficult for us to avoid the wasteful payment of over $7bn on fuel subsidy annually; expectedly, the domestic fuel price will also shoot up to about N200/litre without subsidy; however it is, debatable whether the public would acquiesce to 100% increase on petrol. Nevertheless, the fiscal pressure to devalue the Naira is also propelled on the monetary front; market apprehension about Naira stability has increased the demand for the dollar as a safer store of value than the Naira; furthermore, political tensions and increasing rate of insecurity prior to the 2015 elections, particularly in the light of the predicted breakup of our country, may also move funds away from the Naira; current market indicators suggest a stampede by foreign portfolio investors to offload their Naira holdings and repatriate their funds in foreign currency. In reality, the Naira exchange rate is also eternally challenged by the constant excess of Naira liquidity pitched against CBN’s monopoly of the forex market and the rationed dollar supplies to the market. Unfortunately, rather than address and control the real cause of the destabilising, ever present excess Naira supply, the CBN has failed with its strategies to restrain dollar demand and maintain

a stable official exchange rate of about N155=$1 for about 5 years. Inspite of the fact that Bureau De Change (BDCs) constitute the prime sources of forex funding for laundered money and smuggling of those goods which constrain the growth of domestic industry, the CBN misguidedly, officially allocated billions of dollars to BDCs annually in order to support its fixed exchange rate. Although, this extremely liberal disposition to BDCs has been reviewed by significantly increasing the mandatory capitalisation, the Apex Bank has also reduced BDC weekly forex allocations; furthermore, last week, the CBN also stopped direct sales of dollars to Importers of electronics, Generators, Information Technology and Telecom equipment; such importers would henceforth source their dollars from the interbank market at a higher exchange rate of over 5% for now. Expectedly, the above measures will only drive forex demand into the black market and ultimately recreate the same multiple exchange rates structure that was condemned in the past and also further widen the margin between official and black market exchange rates; increased rent seeking would inevitably also increase and distort economic activities in the same manner that funds from human trafficking and illicit narcotics trade threaten to destabilise the world’s economy. Instructively, however, the most plausible approach to save the Naira exchange rate will be to stop CBN’s monopoly of the forex market and the attendant usual substitution of fresh Naira supply for monthly allocations of dollar revenue. Save the Nigerians!

Naira,

Save

Business & Economy Group partners NBC, GSK, Nestle to empower women in Nigeria

dea Builders Initiative, a non-profit organization has partnered with the Nigerian Bottling Company, NBC, GlaxoSmithKline and Nestle to hold this year’s Global Women’s Mentoring Walk which is aimed at helping rising women leaders achieve their goals and reach their full potential. In a statement, the group said, “Come November 15 2014, several established Nigerian women leaders will be matched with young professionals to engage in dialogue as they walk and talk, adding that, simultaneous ‘walks’ will take place in Lagos at Gbagada, Ikeja, and Unilag including Calabar and Enugu.”

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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Managing Director and Chief Executive Officer, Airtel Nigeria, Mr. Segun Ogunsanya (right) receiving Airtel’s award as Best Company in Education CSR from Business Development Manager, PCMN, Mr. Greg Williams, at The SERAs Awards 2014 held in Lagos

Foundation honours retired Supreme Court Judge, Obaseki By Simon Ebegbulem

ENIN—THE Hallmarks of Labour Foundation, HLF, weekend, honoured retired Supreme Court Judge, Justice Andrew Obaseki, for his exemplary services to the advancement of the nation’s legal system, particularly in the area of adjudication. The honour tagged Role Model Award, was bestowed on him by the former Vice-Chancellor of the University of Benin, Professor Grace Alele-Williams, a member of the Board of Trustees of HLF. Some notable Nigerians such as Justice Chukwudifu Oputa; Ambassador Matthew Mbu, Justice Kayode Eso, and Chief Rotimi Williams, all of blessed memory have in the past received the award. The HLF has Emerutus Prof. Umaru Shehu as Chairman BOT; Dr. Christopher Kolade, Vice-Chairman; Prof. Grace AleleWilliams, member; Senator Oluremi Tinubu, member; Prof. Itse Saggay and Patricia Otuedon-Arawore (Secretary) among others. Speaking, Prof. AleleWilliams pointed out that Justice Obaseki was picked as a recipient because of his courage throughout his career in both the bar and bench. Professor Alele-Williams who urged the younger generation to emulate the qualities of Justice Obaseki as a role model noted that while others are in the habit of using their positions to make quick money, “he was busy establishing a good reputation for himself”. The Executive Secretary of the Foundation, Mrs. Patricia Otuedon-Arawore, earlier explained that the body was conceived against the backdrop of increasing decay in the moral fabrics of Nigeria, dishonest practices and inefficient management of public affairs by successive governments. C M Y K

46—Vanguard, MONDAY, NOVEMBER 10, 2014

N January 16, 2014, the President appointed new service chiefs to man the principal commands of the Nigerian armed forces. Among them was Air Marshall Alex Badeh, who was promoted from Chief of Air Staff to the Chief of Defence Staff. Badeh thus became the absolute top gun in the Nigerian military. He coordinates the efforts to flush out the Boko Haram insurgency in the North East. Prior to Badeh’s appointment, Boko Haram had been uprooted from major Northern cities and they fled to the now legendary Sambisa Forest in Borno/Yobe al integrity. It was within this period that states, from where they engaged the due to lousy leadership at federal, state, armed and security forces in asymmetri- local government and the armed forces and cal warfare, raiding remote villages in the police levels, Boko Haram calmly walked into the Government Secondary School, dead of the night. As soon as Marshall Badeh took over, Chibok in Borno South and hauled 219 he addressed senior officers of the armed girls off to captivity in April. It was also during this time that acts of forces in the glare of media attention, and promised that by April 2014, Boko Haram sabotage within the army led to deadly Boko would be a thing of the past. The appoint- Haram ambushes that claimed the lives of ment of Badeh as the CDS, Major General troops. It precipitated the shooting incident Kenneth Tobiah Minimah as Chief of at a parade in a military barracks in Maiduguri, prompting the recent Army Staff and Rear Admiral court-martials. Families Usman Jibrin as the Chief of locked up barracks to prevent Naval Staff buoyed confidence soldiers from being drafted to after former Army Chief, Lt the war front, allegedly due General Azubuike Ihejirika’s to “poor equipment”. Our campaigns against the terrortroops were often reported to ists had become increasing flee into Cameroun as the inmired in politics following acsurgents charged forward. cusations of “genocide” levThis was the first time since elled at the troops by some the end of the civil war I ever Northern leaders. heard that Nigerian troops Minimah, being of Ijaw ex- Today, Mubi, fled from an advancing traction, was expected to comBadeh’s local enemy! We are talking about plete the good work started by a rag-tag army that has no asIhejirika and protect the government sault aircraft and only recentPresidency from the enemies of ly started acquiring armoured our democracy. Badeh, as the headquarters, personnel carriers, APCs. nation’s number one defender, has the black It was under Air Marshall had all the motivational factors flags of Boko Badeh’s command that Boko stacked on his side to finish off the insurgents. The North East Haram flutter- Haram suddenly abandoned the asymmetrical or guerrilla is his home region, and Adama- ing in the warfare and sprang out of wa, his state, was frequently Sambisa Forest. They started raided by the Islamists. It was Savannah capturing territories – Bazza, already under a state of wind, with a Bama and Gwoza in Borno emergency. State – where they declared But unfortunately, it was un- new moniker: an Islamic Caliphate. What der the command of Badeh and Madinatul did the Defence HeadquarMinimah that Boko Haram Islam(city of ters say about it? “We will nevtransformed from a guerrilla er concede an inch of Nigeoutfit into a conventional army. Islam) ria’s territory to Between January and this moterrorists”.They have since ment, unthinkable things have conceded over 20 local govhappened, not only to our army but also to the nation’s territori-

Marshall Badeh as a metaphor ernment areas in four states (Borno, Yobe, Adamawa and Gombe). It was this same Badeh that, out of the blue, announced a unilateral ceasefire at a time the tide of the war seemed to be turning in Nigeria’s favour after the slaying of Abubakar Shekau (II). The troops were told to stop fighting, and Badeh promised a stunned nation that Boko Haram would release the Chibok girls in a matter of days. This was the breather Boko Haram was looking for. They surged south in Adamawa, swept through Madagali, Michika and stormed into Mubi, the second largest city in the state. What an irony! What a shame, that the man who had in a fit of Johnnyjust-come bravura declared that Boko Haram would end in April, lost his personal house, home town and local government to them.

Black flags of Boko Haram Today, Mubi, Badeh’s local government headquarters, has the black flags of Boko Haram fluttering in the Savannah wind, with a new moniker: Madinatul Islam (city of Islam). Badeh’s predominantly Christian hometown has been effectively Islamised. And what does Badeh say to State House Correspondents about that? “It is no big deal that my home town has been captured. It does not matter if it is my house or Emeka’s house or Lagos that has been captured; the burden is on my shoulder. Nigeria can never be helpless. I take responsibility”. Then he swaggers off. Badeh has shown he has nothing to offer in defence of our country. Under his command, Boko Haram marched all the way from Sambisa Forest, captured and Islamised his hometown. If Badeh cannot defend his hometown, whose hometown can he defend? If he allows his Christian-dom-

inated hometown to be Islamised, who is safe? I have a feeling that the situation that Badeh finds himself in is much bigger than him. The armed forces are obviously in a bigger mess than we can imagine. Bishop Matthew Hassan Kukah’s book: Witness To Justice, disclosed the Oputa Panel discovered that the military, even back then, had become a “moral fugitive” and reeking with “smugglers and witchcraft”. Generals are now said to be retiring as “billionaires”, and troops are no longer motivated by the right values in enrolling in the army. We must save the armed forces, security agencies and Police Force before this nation collapses on our heads. Nigerians must join hands with the leadership of this country to arrest the march of Boko Haram. If by January things continue on baleful trajectory, we might lose the entire North East to the Islamists. Once that happens, North West will be much easier to lose because they are already mostly Muslims and may simply switch sides. After all, they are already practising a measured level of full-scale Sharia law. From there, your guess is as good as mine where the Islamists will turn. You and I may have to go home and defend our hometowns since the army can no longer do so. Unless we save the armed forces pronto, our democracy is in danger. The army may take the laws into their hands as they did in Mali when the Islamists captured Timbuktu in 2012. The nation is on the brink. Now is the time for us to act. Tomorrow may be too late.

20 years of People and Politics Yesterday, November 9, 2014, was exactly 20 years since the Chairman and Publisher of Vanguard Newspapers, Mr Sam Amuka-Pemu, signed me on to start this column. Between April 1999 and August 2001, my late mentor and erudite columnist, Pini Jason and I, went to try our hands on The Examiner. When it did not work, we resolved to shun other beckoning opportunities to return to our home base, Vanguard, and the rest is history. This is a vote of thanks to all of you for keeping faith with me, even when you disagree with my way of looking at Nigeria and her affairs. My ambition is to be like Uncle Bisi Lawrence (Biz-Law) who, at 81, is still lucid – and writing.

OPINION BY AIYEVBEKPEN OSAKUE

he call for privatisation of education was topical in the eighties due to increased demand for higher education. After foot-dragging for years, government broke the monopoly of ownership of universities, the first of which was established in 1948. Consequently, the emergence of private universities as business enterprise became an established phenomenom. Indeed, it has fast become big business with minimal risk given the huge population of those yearning for higher education in Nigeria. Education has come to be accepted as a good investment. It is a means of escaping poverty for the majority and a means for maintaining elite status for the privileged that flock private universities across the country. Yet, even in corporate world, social responsibility is a measure of good corporate citizenship. Thus far, that is absent in most of the private universities in Nigeria. To most proprietors, their motivation was quick returns on investment. At the moment, the pricing of education obtainable in private universities does not accommodate the ordinary Nigerians. The profit interests of owners have remained absolute. It is an over-drive for some proprietors to capitalise on the liberal operational environment to perpetuate exploitative tendencies in the way and manner fees and levies are charged, most times without good reasons and without commensurate services. Babcock University is one of the first generation private

Curbing excesses of private universities universities established in 1999. A visit to the institution As a witness, one could vividly recall what transpired: may not tell the entire story. The infrastructures and The Guest Speaker of the occasion not only arrived late learning facilities rank among the best in Nigeria. There at the ceremony but delivered a three-hour lecture that is no doubt that the proprietor is clear headed on the many considered inappropriately too lengthy for a direction that the school is headed - to be one of the best convocation ceremony. The near ad infinitum delivery in these climes. You leave the university with the of the lecture bored and over-stretched the patience of impression that a great future lie ahead. But the univer- both parents and the graduands and resulted to sity must first establish institutional integrity and disci- restlessness and loss of concentration. Under the pline beyond questions. She must not allow herself to circumstance, some graduands naturally slipped out not drift into the mud puddle of reckless and exploitative only to refresh but to celebrate with friends and relations imposition of levies. It is currently being smeared by such within the periphery of the convocation venue. It was not needless controversy. possible for all the graduands to have poured out of the On June 1, the university held its convocation for the venue as the claims of the authorities of the school 2013/2014 graduates. It was an impressive ceremony that suggest. So what is the wisdom or logic in levying gave parents and guardians of graduands copious sense everyone and not the culprits? To be honest, most parents of fulfillment. But when the graduates went back to collect will grudgingly pay for their children to enable them their certificates, the sum of N25, 000.00 had been collect their hard earned certificates considering the fact arbitrarily slammed on all graduands based on that the money is mere pittance compared to what each allegations of either walking out or absence from the graduand had paid to complete his or her course. But convocation ceremony. For parents who had heaved a exploitation of any form is repulsive and degrading and sigh of relief from paying school fees that ranged from must be confronted, fought and defeated with dedication N500, 000.00 to N1, 300,000.00 per session, this levy is and grim courage. It cast the authorities of the school in an unkind way of saying thank you for your patronage. the mold of Shylock! Most parents and guardians cringed on learning the alleged offence of the graduands. Nothing could be •Mr. Osakue, a political strategist, wrote from Benin farther from the truth. City, Edo State.

Vanguard, MONDAY, NOVEMBER 10, 2014— —47

Between Tambuwal and ingratitude By Femi Kehinde

RECEIVED the news of the defection of Rt. Hon Aminu Tambuwal from the Peoples Democratic Party, PDP, to the All Progressive Congress, APC, with stoic and philosophical calmness. Apart from being a sour taste in the mouth, it is also laden with legal and political miscalculations and labyrinths. As at today, going by the clear wordings of Section 68(1)(g) of the 1999 Constitution of the Federal Republic of Nigeria as amended, and the ruling of the court, that a member that defects from his party, when there is no division (SHALL) vacate his seat. The word “SHALL” is not only a mandatory, but also very sacrosanct. There is a subsisting court ruling that there is no division in the PDP, and Aminu Tambuwal, in the eyes of the law, would naturally vacate his seat as a member of the House of Representatives and by concomitant effects, as Speaker of the House of Representatives. Politics and law are like siamese twins, and the law has always been found as its mitigating brother. In the First Republic, the clear wordings of Section 33(1) of the Western Region of Nigerian

Constitution was that the Governor “shall” remove the Premier (when it appears to him) that the Premier no longer commands the support of majority members of the Regional House of Assembly. The Governor, Sir Adesoji Tadeniawo Aderemi, the Ooni of Ife, removed the Premier, when it appeared to him, that the Premier ’s support in the Parliament had waned. The Action Group, following the removal, appointed Alhaji Dauda Soroye Adegbenro, as its new Premier. The removal of Chief S.L. Akintola precipitated major crisis against his government and removal on the May 25, 1962, and he forcibly opened the Premier ’s Office to illegally continue in office as Governor of Western Region. This simple act of belligerence and audacity led the then Prime Minister, Alhaji Tafawa Balewa, to suspend the Parliament of the Western Region, and appointed Dr. Olukoye Majekodunmi as Administrator of the Western Region, on May 22, 1962, and he instructed the Nigeria Police to restore peace and normalcy. It is instructive to note that a popular stubborn lemon grass has since been known as “Akintola ta ku”.

The President of the Federal Republic of Nigeria, as the Commander-in-Chief of the Armed Forces has numerous powers under the law to forestall the breakdown of law and order in the House of Representatives, and any part of Nigeria, through the Inspector General of Police, by giving operational meaning to Section 68(1) (g) of the 1999 Constitution as amended, by removing Alhaji Aminu Tambuwal from the House of Representatives, and also as Speaker of the House of Representatives, by withdrawing all the perquisites of office that is attached to that responsibilities, which of course include Police escorts and security. In retrospect, during my time as a Member of the House of Representatives between 1999 and 2003, and as brilliant,

He should be reminded that he who is not grateful to his benefactor, that is his party (PDP), would not be grateful to the rest of mankind

Buhari and the revisionists By Johnson Momodu

N a season of electioneering, it should be expected that all manner of ideas, calculations and doublespeak by politicians and their cheerleaders will be given free reign. More so, in a country that truth easily becomes the first casualty of power and influence, it should be equally expected that ferocious attempts to rewrite, tweak or embellish our national history to serve partisan political interests will be made. Already that campaign has started in earnest to revise key events and reconstruct personalities in our national history. That is what is precisely happening now with the deceitful General Muhammadu Buahari makeover project in the media. Since Buhari declared his intention to run for the office of the President of Nigeria for a record fourth time in 2015, some of the comments and write-ups about the leading aspirant in the main opposition party, the All Progressives Congress, APC, have been so effusive in the praise of the old soldier that you wonder if the authors actually knew their subject. Yes, some of those materials can be dismissed as sponsored and paid for. Chief Audu Ogbeh is one of the few politicians in the country who have managed to project politics as an ennobling service irrespective of the party to which he belongs; how much can you pay the “innocent” Ogbe? Well, with Ogbeh, you can

excuse him for falling cheaply for the new craze in the opposition clan, which is grabbing power at all cost from the ruling PDP and worry later about the means. It was interesting listening to Ogbeh reading out Buhari’s profile as he made his way to the podium recently at the Eagle Square in Abuja to declare his interest to run for the office of the president for a record fourth time. Somebody beside me watching the live telecast of the event whispered that Ogbeh was the wrong guy for the assignment he was given because he would not know how to water down Buhari’s poor democracy records. But as it turned out, Ogbeh showed that in his political peregrinations, he has properly acclimatised and has also internalised the crooked values of our politicians. Lo and behold, Ogbeh, while praising Buhari’s rich past, cleverly omitted the stubborn fact that Buhari overthrew a democratically elected government of the people in 1983. He also brazenly swept under the carpet the gross abuse of human rights that was the signature tune of the Buhari regime, while eulogising the former head of state on his record of discipline. To be sure, Buhari led a horde of Second Republic politicians, including Ogbeh himself, whimsically into detention. So when Ogbeh, now campaign director for Buhari, seeks to rewrite history because of an election down the line, he must realise the great disservice

he is doing to his fatherland. Indeed, the attempt at rebranding Buhari appears to be catching fire with the sudden recruitment of people like Chief Dele Momodu, the colourful publisher of the Ovation Magazine. Momodu a one time presidential candidate has taken his own revisionism to a level of almost obsession. A good story teller he has been over the years, Momodu now holds us spell bound by his tale of how charming the General can be, how he (Momodu) was swept off his feet by the General by just one chance meeting, and how he has been greatly misunderstood. The Ovation publisher known and respected more for his dexterity in Yoruba language studies is now playing Chike Obi, the

All Buhari new converts must not forget that there is no bigger corruption than the deceitful revision of a people’s history – for whatever reason!

audacious and belligerent Alhaji Gali Umar Na’abba, Speaker of the House of Representatives, then was, he did not cross the borderline of dumping the party that gave him the privilege of becoming the number four citizen of Nigeria, but remained vocal and loyal to the PDP despite very obvious misgivings. Alhaji Ghali Na’abba unlike many of us, perhaps as aclairvoyant, saw the emerging tyranny and dictatorship in the then Executive Government of the Federal Republic of Nigeria. The Federal Government would be acting within the dictates of law, morality and commonsense and decency, by removing Aminu Tambuwal from the Nigerian parliament through the instrumentality of the law i.e. section 68(1) (g) of the 1999 Constitution, as amended, which states that a member who leaves his party when there is no division or merger shall vacate his seat. The word “shall” has enjoyed so many legal interpretations as a sacrosanct and mandatory word, through the wordings of the great Lord Denning MR in the 1961 Privy Council case of BENJAMIN LEONARD MACFOY VS. UAC LTD 1961 3 AER 1169 Pc and the 1980 Supreme Court decision in

SKENCONSULT NIG LTD vs. GODWIN SEKONDU UKEY SC 50/1980. Whilst William Shakespeare, described ingratitude as ”monstrous”, and James Thomson describes it as ”treason to mankind", Immanuel Kant described it as-”the essence of vileness” and Titus Maccus Platus says “you love a nothing when you love an ingrate”, which is better encapsulated in the Latin maxim nihil amas um ingratum amas. Julius Caesar in William Shakespeare embellished it further when he said: ”Ingratitude thrives fast at first, but fades in time”. Tambuwal has in the last few years demonstrated an unkind and unjust act of ingratitude to the political party that took him to the parliament as an honourable member and on the platform through which he became the Speaker of the House of Representatives and the number four citizen of Nigeria. However, he should be reminded that he who is not grateful to his benefactor, that is his party (PDP) in this instance, would not be grateful to the rest of mankind from whom he has received no benefaction, whilst also wishing him success in this new voyage. •Mr. Kehinde, a former member of the House of Representatives, wrote from Ibadan, Oyo State.

revisionists strive to reconstruct Buhari in the context of our mathematician, in trying to project national history, the former head how Buhari will likely sweep the of state must first secure the ticket votes in 2015 presidential of his party by beating the former elections. Unfortunately for him Vice President, Atiku Abubakar and his forecasts, maths is based and Governor Rabiu Kwankwaso on methods and formulas that in a free and fair primary. When must be applied correctly. A the General becomes APC’s wrong formula inexorably leads presidential candidate, then we to the wrong answer or will measure how much he has conclusion. Such is the case of changed from what we know him Momodu’s mathematics that to be. Yes, how much of an factor in the influence of Ribadu overnight democrat, nationalist, in Benue rather than Adamawa progressive and secularist he has and based on that, gives Benue suddenly become, just because of State, David Mark’s state, to the an election in a year's time? APC and not PDP in 2015. Thank God for the gift of our only The truth is that nobody needs Nobel Laureate, Professor Wole Momodu’s Jagbajantis he calls Soyinka(whose opinion I believe mathematics to understand that Momodu respects) for putting in the 2015 general elections will be black and white what he termed very competitive. Yes, APC has several years ago as “The Crimes really stepped up its game, no of Buhari”, as if he knew a day of doubt. Yes, PDP has lost some the revisionists will come in 2014. high profile members to the “The grounds on which General opposition. Yet those drawing a Buhari is being promoted as the conclusion on that, predicting a alternative choice are … not only Buhari victory in 2015, are closing shaky, but pitifully naive. History their eyes to the fact that PDP has matters. Records are not kept also gained some high profile simply to assist the weakness of members from the opposition. memory, but to operate as guides More importantly, the APC to the future,” Professor Soyinka, prophets in the matter of 2015 had warned. have conveniently ignored the So all ye Buhari new converts fact of the nation’s voting united in painting a picture of how behaviour. Since the First Nigeria has become a huge Republic, the South West has corruption network under never voted for a Northern President Goodluck Jonathan and presidential candidate, no matter how ‘Saint’ Buhari will be the the party he belongs. The Messiah must not forget that there growing influence of Senator Bola is no bigger corruption than the Ahmed Tinubu in the region may deceitful revision of a people’s not change this stubborn fact in history – for whatever reason! 2015! *Mr. Momodu, a public affairs Much as Ogbeh, Dele commentator, wrote Benin city, Momodu and the growing list of Edo State.

48 — Vanguard, MONDAY, NOVEMBER 10, 2014

CHIEF Albert Horsfall, former director-general, Department of State Services, DSS was the pioneer director-general of the Nigerian Intelligence Agency, NIA and renowned for his expertise on security issues. Horsfall, one of the most prominent statesmen from Rivers State, trained as a policeman and worked in the Special Branch of the police and became part of the pioneer staff of the defunct Nigerian Security Organisation, NSO which later translated into the DSS. Horsfall on retirement from the security services, became the pioneer chairman of the Oil Minerals Producing Areas Development Commission, OMPADEC. As OMPADEC boss, Horsfall is remembered for initiating the first Federal Government specialised intervention programmes in the oil producing region, and employed the former lecturer, Dr. Goodluck Jonathan as a staff of the commission. In this interview, Horsfall canvasses the balancing of political offices in his native Rivers State and reviews the security challenges in the state and the country as a whole. Excerpts: By Jimitota Onoyume

Monday Ndor, etc. and thus drove the state to a downward HAT are your comments spiral of insecurity and on political instability. Fear descended on developments in Rivers State? the citizenry. This state of affairs I should alert the nation and caused me to issue my warning the Rivers people in particular captioned “STOP THIS of the potential security MADNESS FORTHWITH in dangers and the socio- a press release to all Rivers economic destabilization that people sometime ago. I took may be about to happen in various other actions to try to Rivers State in the face of arrest the reckless drift to current political developments. insecurity in the state. As has happened before, by Nevertheless and inspite of my being docile and by trying not little efforts, the state of to engage in the realities of our insecurity persisted and by situation, Rivers people are 2003 assassinations and cult sleep-walking into a state of driven gang warfare and gun fights were to be seen disaster. We are all over the state being taken for particularly in Port granted, once Harcourt, the state again. capital! At the same Rivers people do time some top not accept the politicians had imposition of actually sponsored another mainland and armed a number governorship of young radicals candidate of the who soon became state by one of the “WAR LORDS”. We main political know them. parties after sixteen And in fact, the years of governance weak institutions and by candidates from leadership in our the mainland. We polity have now therefore appeal, promoted some of very strongly to all them to public political parties to recognition and present candidates status! Meanwhile from the riverine the series of communities for the unjustified killings governorship race and destruction of of the state in 2015. properties including Will we forget so the destruction of oil soon that between year 2000 and 2002 If you ask me and gas installations, attack and kidnap of the seeds of to comment expatriates, etc. insecurity were continued. All these deliberately and on the purposefully sown performance dangerous events continued to happen and sponsored by top political players of Dr. Odili as in Rivers State until 2007. In some cases in the state? Governor of respected chiefs of A s s a s s i n s sponsored by these Rivers State, I communities, heads of war canoe houses, groups and will not, were brought to the engineered open, flogged and through a serving because de-humanized by the police officer at that friends don’t so-called war lords, time murdered a etc. number of persons run down Thus from 2003 including Hon. friends until about the end of

•Horsefall: Wike must forget becoming Rivers State governor for now

Rivers: Wike should forget ambition, clean his image — Horsfall 2007 Rivers State was practically dead. My fellow Rivers men and women, boys and girls, are we, once again, going to let ourselves to drift into this state of anarchy and helplessness? Chief are you speaking as a member of the Peoples Democratic Party or of any other political party? No. I serve only one platform, my God, my conscience and the ordinary Rivers people. The second thing is that I love the youth. I have done most of my charitable activities and services in the promotion of youth interest. I believe very strongly that the youth is the future of any nation. Rivers State is for all its people and those others and there are numerous such others who have come to live and work in it, the process that dates back to many decades. We all reside

side by side as fully integrated Rivers people. My vision and expectation is that we keep it that way. The various ethnic nationalities of the Rivers State otherwise called the Rivers people have lived together in co-operation and collaboration for centuries. They had had economic, cultural, political and educational collaboration for that long.

Socio-cultural process I am proud to say that I am part of the expression of this socio-cultural process. I am linked by blood, etc. with several parts of the state, mainland, riverine, including the Ikwerre and Ogoni. My father’s first daughter is from Ogbogoro (Ikwerre), I finished primary school in Emohua

(Ikwerre), my family had linkages in Aluu and my nanny who nursed me when I was a kid is from Ogoni, etc. So what I advocate today for the riverine communities I will do so as a steward in the court of justice and fairness, equally to protect the interest of any of the mainland communities. Are you not afraid of your personal security? Yes there is glaring evidence that those who are bent on using violence to serve political ends will stop at nothing and will not hesitate to apply thuggery or violence to express themselves. My answer to this question is very simple. ‘Those who live in glass houses must not throw stones.’ Perhaps you have not heard the story – indeed a fairy tale story that when my political convoy was attacked in Okrika in 2002 I Continues on page 49

Vanguard, MONDAY, NOVEMBER 10, 2014 — 49

Boko Haram: Our

Defence Chief should talk less and do more Continues from page 48 disappeared! The next place, according to this sweet story, that I resurfaced was in Israel. Have you not seen that I have disappeared from the scene for about four weeks since September, 2014? Where have I been? All over! Perhaps to consult with those – FBI, International Court of Justice, MI6, etc. – who will deal decisively with anyone or group should anyone be foolish enough to attempt violence against me. In any case the law will say ‘buyers beware’. And I will say to the fools that threaten violence, ‘beware’ – the Horsfalls are a unique specie.

Unique specie Read their history and you will know that no sane person attempts violence against them otherwise the consequences will be too grave for such persons to bear. Yes did they say that during a funeral ceremony Dr. Peter Odili had said that I frustrated him from becoming President of this country in 2007? Yes I did, and if he said so he is correct. I did so because he was

attempting to answer ‘my father’s’ name in his attempt to become president on the platform of old Eastern Nigeria. I regard Odili as my personal friend. I think he also regards me as his friend in spite of our different political viewpoints in Nigerian politics. But everybody who knows me will know that I will speak the truth as I see it If you ask me to comment on the performance of Dr. Odili as Governor of Rivers State. I will not, because friends don’t run down friends. Let others do that. But will you mind a comment on the administration of President Goodluck Jonathan so far? Again you asked me about President Goodluck Jonathan’s administration. Jonathan is my kinsman. He came into politics by accident. But no matter what anyone says about him and his administration he has given democracy a new face in Nigeria especially in the area of free speech and human rights. No past administration of this country has given such opportunities and been tolerant of criticisms as his administration has been. So I am sure people will vote for him not because they like him

•Horsefall: Boko Haram is a threat to our national integrity as such but because they have found true expression of their democratic views in his style of administration. The former Minister of state for Education, Mr Nyesom Wike appears to be the only mainland aspirant as you chose to call it. Are you in anyway by all you have said, against his governorship ambition? Again you asked me about Nyesom Wike the former Minister of Education. Obviously I do not know enough of him to form a correct opinion. However, I will ask him to advise his media people to look at his image more seriously and carefully. The rumours being spread about him especially his physical engagement with his opponents, etc are not palatable. Hopefully these stories may not all be genuine or true but as a budding politician he should look after his image so that he can prepare himself for future political office but must forget the idea of becoming Rivers State governor just now!

Selfish interest Let me say in conclusion that the Rivers people will not sacrifice their long cherished association and collaboration and their need for peace and stability so that the selfish interest of a few people may be satisfied. No. It shall never happen! What is your reaction to the ongoing challenge by Boko Haram against the nation? In all fairness, Defence and Security Services have not been particularly well managed. It seems at first that the magnitude of the problem

a politician should have handled it and not the Chief of Defence Staff. It seems to us now that at that stage they were only discussing the issue of cease fire, they had agreed no cease fire it would appear because Boko Haram was still kidnapping, killing and attacking. That is why I said the Defence and Security services have got to get their acts ready. The press in some ways too have not helped much, they should consult with the defence and security. We are all Nigerians, whether you are a press man or a soldier. What has confronted us today via Boko Haram is a threat to our national integrity. Some portions of Nigeria territory are being excised. These people have expressed an aim to take over, control, cease Nigerian territory, therefore undermining the country’s territorial integrity. Something we must never, ever compromise as a country. I am not in the position right now to really judge anybody. We now really have a grave security threat on our hands.

and the threat posed by Boko Haram had not been well appreciated. In my presentation as deputy chairman of the security committee at the National Conference I did say we must not go to sleep on this issue of Boko Haram, that it is a very serious threat. Ideologically based security threats are not easily resolved, they are the most complicated and difficult and we must look at them very critically and carefully. I did say that the issue of ISIS which was not prominent then, was still building up, I had said Was the confab that the expression of worth it in your extreme Islamism will opinion as a have a bearing on conferee? Boko Haram activities. The confab was What is happening worth it. For the first now is that Boko time government is Haram is being acting on the confab supplied or guided by matters. these extremist There is also an external elements and implementation we have now got a committee (working) real threat. How already on some of prepared we are for those issues which the threat is the issue perhaps have to do our defence and with executive actions. security forces should The decisions we made educate Nigerians on. there were very far I am afraid that some reaching. The only of the things our thing we did not agree defence chief in What is on was revenue particular says are sharing. rather premature, he happening This is a strange should not have said now is that federation where we them if they were not money and spend Boko Haram take ready to say them. that we did not work On the issue of the is being for. Everybody is Chibok girls I do not depending on this see why it is the Chief supplied or sharing. We of Defence Staff, and guided by discovered that there not a politician who are natural resources should come out to say these in each of the states Nigeria had now extremist capable of sustaining agreed a cease fire the economy. Because external with Boko Haram. oil is freely mined. It’s a political issue, elements

50 — VANGUARD, MONDAY, NOVEMBER 10, 2014

Vanguard CLASSIFIED

Obama tours China, Myanmar, Australia P RESIDENT Barack Obama headed for China Sunday on a trip that will focus on Washington’s often tense relations with the country, and will also see the president visit Myanmar and Australia. The China stop will be dominated by Obama’s meeting with Chinese President Xi Jinping in Beijing, where the White House said it expects “candid and in-depth conversations.” The relationship between the two superpowers, which US Secretary of State John Kerry has called the “most consequential” in the world today, has been marred by tensions over the South China Sea, cyberspying and human rights issues. Obama will also attend an Asia-Pacific Economic Cooperation (APEC) summit in Beijing. The president boarded the flight for Beijing in grey slacks and a casual black windbreaker, accompanied by National Security Advisor Susan Rice and senior adviser Dan Pfeiffer, among others. In Myanmar, Obama will meet President Thein Sein and opposition icon Aung San Suu Kyi and attend a summit of ASEAN nations in Naypyidaw. Washington has raced to normalize ties with Myanmar following reforms there, removing most US

•Obama sanctions imposed on the military junta. But Suu Kyi warned this week that the pace of change was slow-

ing, and that the US had been “over-optimistic about the reform process” at times.

UK’s Miliband warns Cameron against EU exit

RITISH opposition leader Ed Miliband will today attack Prime Minister David Cameron’s plans to hold a European Union membership referendum, seeking to shift the political agenda away from questions over his own future. In a speech to business leaders, Miliband will warn that political rivals who “flirt” with pulling Britain out of the European Union are putting millions of jobs at risk by generating uncertainty among business and deterring investment.

The speech will come after a poll by YouGov showed backing for Miliband’s leadership had fallen sharply among Labour voters. Miliband will be looking to refocus attention away from speculation that some members of his party are readying a bid to oust him, and onto the issue of Europe - an area which is seen as a major headache for Conservative Prime Minister David Cameron six months away from an national election.

Defiant Catalonians vote for symbolic independence

ORE than a million Catalans turned out yesterday to vote on independence from Spain in a symbolic ballot, defying challenges from the Spanish government. Voters of all ages lined up around the block, some applauding, as polling stations opened after weeks of tense legal wrangling with Spanish authorities. In one of Spain’s richest but most indebted regions, a long-standing yearning for independence has swelled over recent years as recession and political corruption scandals have shaken Spain. The desire to break away has been sharpened by resistance from Madrid.

“This is an opportunity we could not miss.... We have been demanding it

for a very long time,” said Martin Arbaizar, 16, queueing to vote in a school in Barcelona.

Africa sets up $28 million Ebola crisis fund

HE African Union, African Development Bank and regional business leaders have set up a crisis fund to help areas hit by the Ebola outbreak, the AU said in a statement. The organisation said a landmark pledging meeting held in the Ethiopian capital on Saturday saw African business leaders offer more than $28 million to help the response to the epidemic. According to the World Health Organization, 13,268 people had been infected with Ebola

across eight countries, and 4,960 of them have died. “While the global response to the current crisis has increased in recent weeks, there is still a critical need for additional competencies to care for those infected, strengthen local health systems and prevent the disease from spreading,” the AU said. It said the pledging meeting was attended by leaders from the banking, telecommunications, mining, energy, services and manufacturing sectors from across Africa.

ILODIGWE—I, formerly known and addressed as Miss Ilodigwe Beatrice Nkiruka, now wish to be known and addressed as Mrs. Iheanacho Beatrice Nkiruka. All former documents remain valid. General public please take note.

O S H I KOYA — I , formerly known and addressed as Omolade Qudrah Oshikoya, now wish to be known and addressed as Omolade Qudrah Ibrahim. All former documents remain valid. General public please take note.

EMENALOM—I, formerly known and addressed as Miss Emenalom Happiness Uloaku, now wish to be known and addressed as Mrs. P r i n c e w i l l ( E m e n a l o m ) Happiness Uloaku. All former documents remain valid. NYSC and general public please take note.

ONWUZURUOHA—I, formerly known and addressed as Miss Onwuzuruoha E m m a n u e l l a Onyekachi, now wish to be known and addressed as Mrs. Nwokorie Emmanuella Nneoma. All former documents remain valid. General public please take note.

OLOWOJOLU—I, formerly known and addressed as Miss Titilope Tonia Olowojolu, now wish to be known and addressed as Mrs. Titilope Tonia Eriki. All former documents remain valid. General public please take note.

ALOZIE—I, formerly known and addressed as Miss Alozie Onyinyechi Christy, now wish to be known and addressed as Mrs. Onyinyechi Treasure Kenneth. All former documents remain valid. General public please take note.

EMONE—I, formerly known and addressed as Miss Treasure Chika Emone, now wish to be known and addressed as Mrs. Treasure Chika Nwaubani. All former documents remain valid. General public please take note.

EMI—I, formerly known and addressed as Emi Kelvin Bassey, now wish to be known and addressed as Emmanuel Idongesit Bassey. All former documents remain valid. General public please take note.

OKOLI—I, formerly known and addressed as Miss Okoli Uchenna Chidiebere, now wish to be known and addressed as Mrs. Nwachukwu Uchenna Chidiebere. All former documents remain valid. Nigerian Bar Association and general public please take note.

ENWEZOR—I, formerly known and addressed as Enwezor Adaora Ebelechukwu, now wish to be known and addressed as Nwanekezi Adaora Ebelechukwu. All former documents remain valid. General public please take note.

EJEZIE—I, formerly known and addressed as Miss Chinenye Pauline Ejezie, now wish to be known and addressed as Mrs. Chinenye Pauline Emeka Ngama. All former documents remain valid. Michael Okpara University of Agriculture, Umudike, NYSC and general public please take note.

ESSIEN—I, formerly known and addressed as Miss Mary Essien Isaac, now wish to be known and addressed as Mrs. Mary Imefon Udo-Udo. All former documents remain valid. University of Po r t - H a r c o u r t Teaching Hospital (UPTH) and general public please take note.

Confirmation of name I, Dickson Solomon Naranie, hereby confirm that the name Solomon Eyo Dickson as it appears on my WAEC result refers to one and same me. All former documents remain valid. Niger Delta University and general public please take note.

Confirmation of Name I, Amazi Precious Righteous, hereby confirm that the name Amazi Righteous, as it appears on my WAEC result of June 2011 refers to one and same me. All former documents remain valid. Niger Delta University and general public please take note.

YARO—I, formerly known and addressed as Miss Nguseer Matilda Yaro, now wish to be known and addressed as Mrs. Nguseer Matilda Gateh. All former documents remain valid. NYSC and general public please take note.

ADEBANJI—I, formerly known and addressed as Miss Adebanji Ibironke Oluwabunmi, now wish to be known and addressed as Mrs. Adeyemi Ibironke Oluwabunmi. All former documents remain valid. General public please take note.

MOGAJI—I, formerly known and addressed as Johnson Omotayo Mogaji, now wish to be known and addressed as Koiki Abiola Omotayo. All former documents remain valid. General public please take note.

AGBO—I, formerly known and addressed as Miss Agbo Eunice Ndidiamaka, now wish to be known and addressed as Mrs. Ediebe Eunice Ndidiamaka. All former documents remain valid. General public please take note.

UKOKO—I, formerly known and addressed as Ukoko Okiemute Salina, now wish to be known and addressed as Urhukpeoghene Okiemute Matilda. All former documents remain valid. General public should please take note.

UKAH—I, formerly known and addressed as Miss Marynne Ukah now wish to be known and addressed as Mrs Marynne Ademola. All former documents remain valid. N.Y.S.C & General public should please take note.

ERU—I, formerly known and addressed as Miss Eru Felicia, Okoloba Felicia And Okoloba Favour, now wish to be known and addressed as Mrs Wisdom Edafe Favour Oreosaviro. All former documents remain valid. General public should please take note.

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Ghana coach salutes ‘formidable’ local Super Eagles G

HANA U23 coach Malik Jabir has lauded the home-based Super Eagles who beat his side 1-0 on Friday in Uyo in an international friendly. The two teams had tackled each other in an International friendly to mark the official opening of the 30,000 capacity Uyo Stadium built by Akwa Ibom Government. The match, which took place shortly after President Goodluck Jonathan inaugurated the stadium, was watched by Ghanaian President, John Mahama and his Ivorian counterpart, Alassane Quattara. Jabir said that the Super Eagles played excellently well, saying “Nigeria paraded a formidable team”. “Nigerian team is a formidable team; they have been playing together but I just assembled my team for only two weeks. “My team was not as good as Super Eagles’ team. “The game is a nice one; it has graced the occasion and this is expected and it has happened that way, so we all thank God,” he said.

Eagles Continues from BP Coach Stephen Keshi, his assistants and other members of staff of the national team are goalkeeper Chigozie Agbim, Warri Wolves skipper, Azubuike Egwuekwe, Solomon Kwambe, scorer of the epoch making goal in Uyo, Emem Eduok, Nasara United’s Tony Edjomari, Christian Osaghuna Ighodalo, Gbolahahan Salami and new comer Kingsley Sokari. The players are nested at their usual abode in Bolton White Apartment, Zone 7, Abuja and Keshi said all invited players should be in camp latest today. “We have no time for this game and the players know, so all of them must be here early enough for the trip to

Bobby breaks into Eagles Afcon squad

Congo”, he declared. Meanwhile, Super Eagles midfielder, Ogenyi Onazi, has set his sights on victory in Congo over the host in next weekend’s Nations Cup qualifier but has stated that there are conditions to be met if victory must come Nigeria’s way next Saturday. Onazi, who was expected in Nigeria last night, said Nigerians desirous of the Nations Cup ticket must all join hands and pray and that the football community must be united to achieve success. “Once I arrive Nigeria, I will go to my father in the Lord to pray with me, because I want the Nations Cup ticket and I know we can win in Congo. We must also cooperate and forget past differences to achieve our aim”, he said on phone from his base in Italy.

a caveat. “We must allow our boss, Stephen Keshi to make the final decision”. Last Friday after the game against the Black Metoers of Ghana, Kes-

Pinnick Continues from BP 2014 African Player of the Year has done more than Super Eagles’ stars Vincent Enyeama and Ahmed Musa to merit the award. CAF on Thursday listed 25 players, including Ivorian Yaya Toure – who has won the award in the past three years – in the initial pool for the Player of the Year, ahead of a shortlist of five that will be released early December. “If we look critically at the list, it would be difficult to see any player who has done more for club and country in the outgoing year than Vincent Enyeama and Ahmed Musa. “Both were in fabulous forms for their clubs (Enyeama with Lille OSC of France and Musa with CSKA Moscow of Russia) during the year, and also played brilliant roles as the Super Eagles reached the Round of 16 at the FIFA World Cup finals in Brazil,” Pinnick stated. The NFF boss made it clear that he was in no way disrespecting other players on the list of 25. “I have immense respect for most of the players listed, particularly

HEY were seeded as top players in the competition and true to their rating England’s Adrian Grant and Egypt’s Heba El-Torky emerged as champions at the Lagos International Squash Classics concluded at the weekend. The tournament which attracted top players across the globe was sanctioned by Professional Squash Association (PSA) and Women Professional Squash Association (WSA) and it is point hauling event held at the Molade Okoya-Thomas Hall of Teslim Balogun Stadium. From the start of the com-

petition, England’s Grant was outstanding in all his matches and this became obvious in the men’s final against Egypt’s Karim Ali Fathi. Despitestiffresistancefrom the Egyptian in the first game, the Englishman had his way to win the match at 11-9, 11-6, 11-2 to lift the title. Also in the women’s event, Egypt’s El-Torky confirmed her status as the best ranked player in the championship as she fought hard coupled with experience to humble Netherlands’ Milou van der Heijden 11-9, 15-13, 11-9 to emerge as the top player.

We'll beat...

GRITTY: Home-based Super Eagles at CHAN 2014.

S predicted by many, exciting Enyimba International midfielder, Kingsley Sokari alias Bobby has broken into the Super Eagles squad for the two remaining qualifiers against Congo and South Africa next week and this is official. Before now, Assistant Coach, Dan ‘the Bull’ Amokachi had said the player is as exciting as former Super Eagles skipper, Austin ‘Jay Jay’ Okocha.But he also put

England, Egypt rule Lagos Int’l Squash Classics

hi included him for the remaining two games and Bobby is presently at the Bolton White Apartment with the rest of the stars from the Nigerian league. Toure, Asamoah Gyan of Ghana, and the Algerian trio of Slimani, Feghouli and Brahimi who also steered their team to the Round of 16 at the World Cup. “Yet, the exploits of Enyeama and Musa in the outgoing year have been exceptional. Either of them deserves the award.” Eagles’ goalkeeper and skipper Enyeama made a number of telling saves at the FIFA World Cup in Brazil and was also brilliant for French Ligue 1 club, Lille OSC all through the year, while nimble –footed Musa became the first Nigerian senior team player to score two goals against Argentina in a competitive match, when he netted a brace against the Argies in a World Cup group phase game in Porto Alegre. Musa also scored two goals against Sudan in a 2015 Africa Cup of Nations qualifying win that has given Nigeria hope of reaching the finals. Both Musa and Enyeama are currently playing critical roles in their clubs’ European campaign, with Musa influential for CSKA Moscow in the Champions League and Enyeama playing his role for Lille OSC in the Europa League.

Continues from BP Red Devils beat the Eagles 3 - 2 in Calabar. “The Eagles that played Ghana were put together under three days. That team have given us hope that Nigerian will continue her dominance of African football and make great impact at the world scene”, Alaiya said. Speaking on Coach Stephen Keshi’s absence from the touch line in the the match against Ghana, Alaiya said that Keshi was saddled with administrative duties that did not allow him come in early from Abuja to tinker the Eagles. “He allowed his Assistant Daniel Amokachi to be in charge and he did a fantastic job within three days”, the Eagles spokesman said. Alaiya’s explanation,

however, differed from widely held stories that made the rounds in Uyo that the Nigeria Football Federation had stopped Keshi from being on the bench to prevent livid Nigerian fans from venting their spleen on him like they did in Abuja despite beating Sudan 3 - 1. Keshi’s absence from the bench had fueled rumours that he had gone into hiding to save his head from angry fans. But the returnee Coach reappeared to collect his medals at the end of the 1 - 0 victory which was made possible by the beautiful header of homeboy Emem Eduok who plays for Dolphins of Port Harcourt. Eduok shot himself into reckoning becoming the first player to scre in the brand new 30,000 seater Akwa Ibom International Stadium.

NFF Continues from BP is fondly called was conspicuously absent from the touchline during the international friendly between Ghana U-23 team, the Black Meteors and the home-based Super Eagles at the commissioning of the new Akwa Ibom International Stadium in Uyo on Friday. He however made a surprise appearance during the medal presentation ceremony to receive his medal. “There’s no contract offer at the moment, it could be revisited at the end of the Nations Cup qualifiers,” an NFF official said in Abuja, at the

weekend. “The decision to allow him finish the qualifications came from above [the presidency], he is working based on a previous arrangement agreed after the World Cup,” the source continued The 52-year-old is paying the price for poor results in qualification for next year ’s Africa Cup of Nations but he was given a chance to make amends following the intervention of the presidency. Nigeria face Congo and South Africa in the coming days, needing two wins to stand a chance of making it to the 2015 tournament.

Vanguard, MONDAY, NOVEMBER 10, 2014 — 53

Idimogu plans to float club for Catholic church

Newcastle see off West Brom N

EWCASTLE main tained its resurgent Premier League form with its fourth consecutive win, a 2-0 victory over West Bromwich Albion at The Hawthorns on Sunday. The visitors opened the scoring late in the first half through Ayoze Perez, who converted Daryl Janmaat’s cross from close range for his third goal in as many games. Newcastle doubled the lead in the 62nd minute

when Fabricio Coloccini headed in from another cross by Janmaat. West Brom, which came into the game undefeated in three league games, enjoyed the bulk of possession in the second half but failed to convert that advantage into goals. The result catapults Newcastle above West Brom and into the top half of the table after starting the season without a win in its first seven games.

BY JACOB AJOM

Wuraola Ojo Golf tourney: Ade Ojo calls for more women golfers •Sad over failure by golfers to win hole-in-one prize BY SOLOMON NWOKE

HIEF Michael Ade. Ojo, the Chairman of Toyota Nigeria Limited sponsors of Chief Mrs Elizabeth Wuraola Ojo Memorial Golf Tournament has expressed worry that none of the golfers was able to make the Hole-inone birdie since the inception of the championship 11 years ago. Speaking at the end of the tournament weekend in Ilara Mokin, Ondo state, the founder of the rising golf resort in the countr y, the Smokin’ Hills Golf Resort, told the golfers that he was tired of taking his staked car back to the garage after every tournament as a result of the golfers inability to make hole 16. He was virtually begging them to win it to make him happy. In order to make it easy for the golfers to cart the car away, he has given the golfers a reprieve of Hole 13 in the next edition for them to win the coveted prize. “I am tired of carrying this car (3.5 Toyota

Camry) back to the garage after every year ’s tournament. So I want something that will be easy for you (golfers) to win the car. For the past 11 years of this tournament I have been taking this car back home. Next year, this car will be competed for in Hole 13. I believe this will be easier for you”, he said. He also spoke of his plans to extend invitation to more women in the next edition of the tournament as he frowned at the low turn out of the Lady golfers at the tournament. He said that the number of women are supposed to be higher than that of the men because the person in whose memory the tournament was instituted was a woman. “I wasn’t very pleased with the first day’s turn out because I expected more women, but when I dug into this, I was told that they didn’t invite more than 16 and I felt that was very unfair on the women golfers. I like women to be more involved especially, because the person we are celebrating was a woman."

AERIAL CONTEST . . . Newcastle United’s defender Paul Dummett (L) jumps with West Bromwich Albion’s Nigerian forward Victor Anichebe (R) during their English Premier League match at The Hawthorns in West Bromwich. Photo: AFP

Morocco ask CAF to move Afcon to 2016 S

UPER Eagles captain Vincent Enyeama may get his wish of having the 2015 Africa Cup of Nations postponed as hosts, Morocco’s ministry of Sports has asked the confederation of African Football (CAF) to postpone the 2015 AFCON by one year, by moving it from 2015 to 2016 due to the fear of the deadly Ebola Virus Disease. CAF had on November 3, announced that a ‘unanimous decision’ had been reached to maintain the January 17 to February 8, 2015 date as originally scheduled and gave hosts Morocco a deadline of Saturday November 8 to respond to the decision, and Morocco’s sports ministry has responded, asking for the tournament to be moved to the year 2016. Morocco’s sports ministry in a statement, said they are faced with ‘a strictly health linked case of force majeure’, hence their request to have the tournament moved ‘from 2015 to

2016’. Enyeama had earlier said that “I really wish it doesn’t happen with all the people that will be moving around. But I’m not CAF, I’m not the one who calls the shots,” as quoted by the UK Daily Mail. The goalkeeper was fur-

ther quoted as saying “It’s risky for everyone because you go to Africa and then everyone is hugging you and shaking you, and what can you do? You’re at risk.” It remains to be seen whether CAF will decide to go ahead with the tournament in another country, or whether they will agree to move the tournament by a year.

N aspirant for the Lagos State House of Assembly seat. Jude Emeka Idimogu has disclosed plans to float a football team that will represent the Catholic Church in the national football league in the nearest future. Speaking at the final of the First Archbishop Alfred Adewale Martins football tournament in Lagos at the weekend, Emeka who will be contesting under the platform of the Peoples Democratic Party said what he is nursing was not new. “Other churches are doing it, so it will not be anything strange if the Catholic church also decides to do it,” he said. “We can do it. We have the resources and we have the human capacity to do it. Our youth would find an avenue to express themselves and perhaps secure their future through sports.” Emeka who said he is the proprietor of a local clubside, Oke Afa Pillars said it was because of his interest in youth empowerment that he supported the Archbishop Adewale Martins Cup. “This tournament is keeping our youth very busy and I promise you, the first thing I will do once I get there is to ensure we float a football club in the national league.”

Special Olympics Nigeria appoints director follower of several sports.

PECIAL Olympics Ni geria has appointed Naomi Saliu Lawal as its new national director. This follows the departure of its former national director, Mrs Folashade Bolumole. Naomi Saliu Lawal, brings on board a wealth of experience in fund-raising, relationship management, corporate structure management and a passion for children. A statement from Special Olympics Nigeria says Naomi Saliu Lawal is joining the organization after a 12 year stint in the Nigerian and British finan-

•Lawal cial sectors. She rose to become the Head, Client services for Guaranty Trust Bank United Kingdom before her new appointment. She is passionate about health and fitness, participates in some charity walks/runs and an ardent

Special Olympics Nigeria is an affiliate of an unprecedented global movement, transforming lives together through the joy of sports everyday, and improving the lives of people with intellectual disabilities and, in turn, the lives of everyone they touch. It seeks to transform communities by inspiring people throughout the world to open their minds, accept and include people with intellectual disabilities and thereby celebrate the similarities common to all people.

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Eagles converge on Abuja for Congo •As Onazi calls for prayers, unity

REPARATIONS for the make or break Africa Cup of Nations qualifier against Congo Brazzaville in Point Noir is expected to kick-start today follow-

ing the arrival of invited Nigerian league stars to Abuja on Saturday, after a highly impressive 1-0 win over Ghana in the maiden Restoration Cup at the ultramodern Akwa Ibom International Stadium last Friday. The players who came into camp with Head •Continues on Page 52

NFF yet to offer Keshi fresh contract ‘We’ll beat Congo silly’

•Eagles depart Thursday on a chartered flight •Why Keshi was not on Eagles bench in Uyo

By Jacob Ajom

E-APPOINTED Super Eagles coach, Stephen Keshi has not yet been given a new contract by the Nigeria Football Federation. Indeed, discussion on new contract has not been reopened, informed sources have said. Keshi has been in the shadows since his infamous reinstatement as Super Eagles head coach as we gathered he was still trying to straighten certain aspects of his continuous stay with the team before the resumption of the 2015 Afcon qualifiers camp today The ‘Big Boss’, as he •Continues on Page 52

•Onazi

By Tony Ubani

S Nigerians continue to savour the sweet victory of Super Eagles Team B against Ghana’s Under 23 team in Uyo in the friendly to open the Akwa Ibom International Stadium, Super Eagles publicist, Ben Alaiya has predicted that the Eagles would devour Congo in their AFCON qualifier.

The Eagles have been scheduled to storm Congo on Thursday with a chartered 737 Boeing Discovery Airline. Excited by the new spirit and vim and vitality displayed by the mainly home-based Eagles against Ghana, Alaiya predicted that the Eagles would whip Congo silly in the reverse match after the

•Continues on Page 52

•Keshi

Pinnick: Enyeama, Musa good for CAF’s top prize

RARING TO GO: Ahmed Musa ready to go against Congo.

•Pinnick

RESIDENT of Nigeria Football Federation, Mr. Amaju Melvin Pinnick has declared that none of the

other players on the list of 25 players released by the Confederation of African Football for the

•Continues on Page 52

QUICK CROSSWORD

TODAY'S

PUZZLE

YESTER DAY'S YESTERDAY'S

ANSWERS

ACROSS 2 Stadium (5) 7 Settled (4) 8 Deadly (6) 9 Comical (5) 11 Ocean (3) 13 Bed (3) 15 Whirlpool (4) 16 Rodent (3) 18 Entrance (4) 19 Least (7) 20 Regretted (4) 22 Heroic (4) 23 Ludicrous (7) 25 Fastened (4) 27 Rabbit (3) 28 Resound (4) 30 Finish (3) 31 Hill (3) 33 Slumber (5) 36 Discount (6) 37 Repulsive (4) 38 Hobo (5)

DOWN 1 Loathed (5) 2 Append (3) 3 Self (3) 4 Each (3) 5 Pig-pen (3) 6 Instrument (5) 10 Thin (4) 11 Hide (7) 12 Stuck (7) 13 Concise (7) 14 Farm-vehicle (7) 16 Inflexible (5) 17 Name (5) 18 Owing (3) 21 Performed (3) 24 Dish (4) 26 Deduce (5) 29 Hex (5) 32 Rotter (3) 33 Fixed (3) 34 Epoch (3) 35 Whelp (3)

YESTERDAY'S SOLUTIONS ACROSS: 1, Sheaf 5, Taffee 8, Cache 10, Grotto 11, Eros 14, Malice 15, Survive 18, Wet 19, Eat 21, Dead 23, Ensue 24, Seem 27, Ten 29, Mob 31, Lengthy 32, Paired 34, Tote 35, Unison 38, Allot 39, Endear 40, Weary

DOWN: 2, Her 3, Active 4, Fat 5, Teem 6, Fooled 7, Extend 9, Convent 12, Raw 13, Site 16, Urge 17, Easel 20, Tuneful 22, Arch 24, Supple 25, Emit 26, Morose 28, Ignite 30, Bet 33, Dear 36, Now 37, Oar.

How to Play Sudoku

lace a number (1-9) in each blank cell. (No line can have two of the same number). Each row (nine lines from left to right), column, (also nine lines from top to bottom) and 3 X 3 block within a bold block (nine blocks) contains number from 1 through 9. This means that no number can appear twice in any block, column or row. No mathematics is involved – no adding, subtraction, division or multiplication, just plain logic and your imagination.

Printed and Published by VANGUARD MEDIA LIMITED, Vanguard Avenue, Kirikiri Canal, P.M.B.1007, Apapa. Phone: Newsroom: 018773962. Deputy Editor: 01-4548355. Advert Dept Hotline: 014544821; Abuja: 09-2341102, 09-2342704. E-mail: editor@vanguardngr.com, news@vanguardngr.com, letters@vanguardngr.com. Advert:advertproduction@yahoo.com Website: www.vanguardngr.com (ISSN 0794-652X) Editor: MIDENO BAYAGBON. Phone: 01-7742861, All correspondence to P.M.B. 1007, Apapa Lagos.

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