Sun 31 jan 2016 online

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.RJL GHEDFOH APC shops for Deputy Gov Ademu Idakwo, Lokoja

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ollowing the refusal of James Abiodun Faleke to take oath of oÄœce along with Alhaji Yahaya Bello, who was sworn in last Wednesday as governor, no fewer than four aspirants are currently jostling for the position. Faleke was the running mate to Prince Abubakar Audu, who died during the election

‡$XGX¡V ZLIH RWKHUV MRVWOH IRU FRQVLGHUDWLRQ last year. The All Progressive Congress (APC) has been enmeshed in crisis since the death of the original governorship candidate of the party, the late Audu. Faleke, who was the running mate to Audu is insisting that he should be the rightful candidate of the party, following the death of Audu, while the party presented

Bello as candidate because he came second during the gubernatorial party primaries held last year. As of last week, no fewer than four people had indicated interest to be considered by the party as deputy to Governor Bello and one of the aspirants is

Lassa fever: Plateau govt. trains 66 lab technicians

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Newswatch Times -Tradition built Truth -Tradition built onon Truth

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L-R: Former Head of State, Abdulsalami Abubakar; President Muhammadu Buhari and former President Olusegun Obasanjo, during the 26th Ordinary Session of the African Union Assembly, at the African Union Commission in Addis Ababa, Ethiopia‌yesterday.

PDP in disarray, new chairman may emerge Thursday Saminu Ibrahim, Abuja

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s the drama over the claim to the chairmanship seat of the Peoples Democratic Party (PDP) by three gladiators continues, police has laid siege to the party secretariat. Those laying claim to the chairmanship of the party include former Political Adviser to former President Goodluck Jonathan, Alhaji Ahmed Gulak; the Acting Chairman, Prince Uche Secondus and Secretary of the party, Professor Adewale Oladipo, who was last week allegedly supported by the PDP governors. Indications that parties to the seat are yet to shift

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ground and that truce is not in sight emerged on Friday with the sudden appearance of men of the Nigeria Police in a deep blue Toyota vehicle with registration number NPF143C, stationed at the entrance into the PDP secretariat. Curiously, events that precipitated the current impasse ęrst reared its ugly head immediately after

FCT Minister inaugurates Goodluck Jonathan Expressway

7 killed as boat capsizes in Lagos

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the former National Chairman, Alhaji Adamu Mu’azu, threw in the towel in May 2015. It would be recalled that Mu’azu left oĜce after the defeat of former President Goodluck Jonathan at the last presidential election. Though Mu’azu hinged his exit on health ground and family consideration, it is alleged that he may have left

because of pressure from stakeholders who insisted he must vacate oĜce, having led PDP to a disastrous outing at the March 28, 2015 presidential poll. Indeed, Prince Uche Secondus, one of the contenders in the ongoing tussle over the chairmanship seat, declined comment when Newswatch Times prodded him on the way forward, saying: “I am in a meeting. I am not available throughout today, we are in a meeting.� Similarly, former Presidential Aide, Alhaji Ahmed Gulak and National Secretary of the party, Professor Adewale

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Aide defends Ortom on allegation of corruption >> Page 4

Boko Haram commanders killed in Sambisa forest

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NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

NEWS

PDP in disarray, new chairman may emerge Thursday Continued from page 1 Oladipo, who was elevated late in the night on Wednesday by PDP Governors Forum to take over leadership of the party, also declined comments, as repeated calls to their mobile lines were not answered. But reliable sources at the party’s secretariat told Newswatch Times that: “Secondus left Abuja for Port Harcourt to congratulate Rivers State Governor, Nyesom Wike, over the Supreme Court judgment that upheld his election.” However, there were strong indications that Professor Oladipo may have dumped Secondus, following his brief appearance at the party’s oĜce few hours before Gulak stormed the secretariat on Wednesday. The source observed:”Oladipo fell sick and just came back from Osun, his home state, but his silence since the day he was pronounced to take over leadership of the party has conęrmed that he is not together with Secondus.” It was further gathered that the National Working CommiĴee (NWC) has been fragmented along ethnic cleavages and personal interests, even before Gulak declared himself chairman on Wednesday. For instance, in the 11Ȭman commiĴee constituted by Gulak to look into the aěairs of the party after his self declaration as the substantive National Chairman on Wednesday, Gulak appointed the National Auditor of the party and member of the NWC, Abdulfatah Adewole Adeyanju, as Secretary of the CommiĴee, a clear indication of a crack in Secondus-led NWC. In the middle of the raging controversy on whose shoulder the leadership of the party lies came the report that chieftains of PDP have initiated moves for a meeting of National Caucus, Board of Trustee (BoT) and National xecutive CommiĴee (N C), slated for next week. Another source added:”There are moves to placate the Northeast with the chairmanship at the N C, and with a tenure ranging between three to six months in oĜce.” If this proposals sail through, the source added: “N C may shift the national convention, earlier billed to hold in March, to a new date.” Consequently, a meeting of Northeast stakeholders of the party is allegedly billed to hold on Tuesday to pick a candidate that would be ratięed by N C on Thursday. Meanwhile, a meeting of the North- ast zone caucus of the

Secondus party has been ęxed for Tuesday where a new candidate will be picked, while the National xecutive CommiĴee (N C) of the party is slated for Thursday where the nominee from the zone will be ratięed. Sunday Newswatch further gathered that as prelude to the Northeast meeting, on Tuesday, stakeholders of PDP in Adamawa State met on Thursday and resolved to seek the support of other states in the zone to win the seat. The decision to pick Ambassador Juta was contained in a leĴer signed by Chief Joel Madaki, Chairman, PDP, Adamawa State, copied to the National ice Chairman, PDP, North ast and copied to Acting National Chairman, PDP, Prince Uche Secondus. The leĴer stated : “The State Working CommiĴee of the Peoples Democratic Party, PDP, Adamawa State Chapter after due consultation with party Stakeholders in the State and beyond, and having thoroughly deliberated intensively on the issue of the position of the National Chairman of the party has resolved as follows: “That, it is imperative the PDP resuscitates itself as a key political party for the purpose of both proěering eěective opposition and an alternative platform to ruling APC Government. That, such a repositioning needs the support of the people as well as a strong experienced and

Gulak rose tanks personally with impeccable integrity to lead the party as its National Chairman. “That, it is in the best interest of the party in the State that the position of the National Chairman of the PDP returns to Adamawa State. That, it is hereby resolved to support the candidature of Ambassador Wilberforce B. Juta, a former Governor of the defunct Gongola State, one of the founding me,bears of the PDP, a member of G34, ęrst National ice Chairman( North ast) of the Party and currently a member of its Board of Trustee for the called post of the National Chairman of PDP. “That, it is our conviction therefore, that Amb. Juta can well deliver in this onerous assignment. That, the party( PDP) is calling up on all other interested members to patriotically lay down their personal ambition for the heightened interests of the party in Adamawa State. “That, the State Working CommiĴee of the PDP in Adamawa State commends the eěorts of those who stood up to be counted in this noble goal of salvaging the Party and taken after wide and extensive consultations is in the best interest of our great party and Adamawa State. That, we believe this decision taken after a wide and extensive consultations, is in the best inter Meanwhile, Gulak has punctured position being canvassed by Chairman of PDP Governors

Forum, Dr. Olusegun Mimiko, for Oladipo to lead the party, saying Mimiko was wrongly advised, even as Secondus’ group has also argued that the governors erred by unilaterally appointing Oladipo to lead PDP. In the view of the Secondus’ group, the PDP constitution does not recognize governor’s forum as an organ of the party and, therefore, concluded that they (governors) have no locus standi to dictate to the party. However, there are disputes as to the claim that PDP governors want Professor Oladipo as chairman. Re-elected Governor of Bayelsa State, Henry Seriake Dickson, yesterday, threw his weight behind the embaĴled Chairman of the PDP, Uche Secondus, saying he (Secondus) remained the party’s chairman. According to him, contrary to the reports in the media, there are no three chairmen in PDP but only one in the person of the Acting National Chairman. Dickson, in a statement by his Chief Press Secretary, Daniel Iworiso-Markson, clarięed the position of PDP Governors Forum, saying Uche Secondus was still the Deputy National Chairman of the party, adding that in the absence of a substantive national chairman, he remained in acting capacity until a new chairman emerges. He said that during the meeting of the Governors Forum held in Abuja, the forum unanimously condemned the decision by former Presidential Aide, Ahmed Gulak, to forcefully declare himself as chairman of the party. The governor denied media reports of any division in PDP Governors Forum or change in the current leadership of the party. He said there were modalities for the emergence of chairman of the party as stated in its constitution and therefore, there could not have been any reason to have three chairmen running the party at the same time. Dickson was categorical that at no time did the Forum nominated anyone as chairman, insisting that “Uche Secondus as Deputy National Chairman, going by the law and the party’s constitution, is still in acting capacity until a new chairman emerges.” He said: “There can’t be a vacuum and as servants of the law, we must be seen at all times to be people who are duty bound to uphold the law and to do the right things at all times in the eyes of the law.”

Kogi debacle: APC shops for Deputy Gov Continued from page 1 one of the wives of the late Audu. Hajia Aisha Audu, the elegant and beautiful wife of Audu, who contested governorship election in 2012 alongside her late husband, was said to have been tipped by some powerful forces in order to pacify followers of Audu. It is also alleged that it was a move to dislodge Audu’s group that is bent on geĴing rid of Governor Bello. Another aspirant is Mrs. Justina Abanida, a highly mobile female politician, who is known in political circles for her movement from one party to another at a moment’s notice. She was said to have indicated her interest to be considered for the position. Abanida was Secretary to the State Government (SSG) during the second tenure of Prince Abubakar Audu, before she dumped Audu to support his successor in oĜce, Alhaji Ibrahim Idris of the PDP. She is an Okun Woman who hails from gbe in Yagba West. She is from the same zone with Chief Faleke, who is claiming rightful ownership of the November 21 governorship ticket. According to sources, her chance of geĴing the ticket is very bright because she is playing the role of a spoiler to Faleke and the opposition will do anything possible to bring her on board. Another aspirant, Mr. Gowon bgunu, is a liĴle known politician from Ugwolawo in Ofu Local Government Area of the state. He is a man who will not shy from controversy. He is the Publisher of a regional magazine called “Parliament.” bgunu is from the same area with the late Audu. He is said to have a brighter chance because of his ancestral connection in Igala Kingdom as well as the strong inĚuence of the powers fronting for him. For instance, Bello’s right hand man, Mr. Yakubu Ugwolawo, was reported to be one of the strongest pillars supporting him ( bgunu).

Ugwolawo is not hiding his quest to install Mr. gbunu. Ugwolawos’ voice has been loud and clear in selling the candidature of bgunu. Another strong aspirant is Mr. Simon Achuba, a former Deputy Speaker in the State House of Assembly. Like other aspirants, he is a new entrant into the party. He defected from the Peoples Democratic Party (PDP) to the APC few days to the governorship election in the state. He is a political gladiator of repute but many say he lacks consistency in politics. Though, he stands a beĴer chance of geĴing the position, his greatest obstacle now is the group of people who see themselves as core Igalas and they don’t see Achuba as one of them because of where he hails from. Achuba hailed from Ibaji Local Government Area of the state and it is a large community having boundary with Kogi and Anambra states. However, the delay in nominating a new deputy governor by the new Governor, Alhaji Bello, could be aĴributed to political calculation. He intends to take steps that will give him a ęrm grip on power in the state. Bello, who is having a running baĴle with the former governor, Idris Wada of the PDP and Faleke, the joint ticket owner of the APC, over who should rightfully occupy the Lugard House, was said to be taking his time. According to the Nigerian constitution, Section 186 and 187 of 1999, as amended, says it is mandatory for each state of the federation to have a deputy governor. Though Kogi’s case, according to many legal experts, is and very complex because what happened in the state was not envisaged by any relevant and known laws in the country. The APC in the state is divided along tribal, sentiment and opinion lines on how best the government should be run. They have not declared support for any of those jostling for the position, but the governor himself seemed disposed to picking his deputy from the astern Senatorial District, where the late Ěag-bearer, Prince Audu, hailed from in order to pacify them to support

his government, since the zone constitutes the majority in the state. The political development that followed the November, 21 governorship election in the state had, of recent, almost brought the state to its knees. After the death of Audu, his closest rival at the party primaries, Alhaji Bello, the 40-year-old businessman, who came second, was presented to the Independent National lectoral Commission (IN C) as the party candidate for the election. The issue again raised another dust as the running mate to Audu, Honourable Faleke and former Governor, Wada, headed to court to seek for interpretation of the logjam caused by the demise of Prince Audu, the APC Ěag-bearer. Wada asked the Federal High Court, presided over by Justice Gabriel Kolawole, siĴing in Abuja, to declare him winner because he scored the second highest votes at the election. Faleke, on his part, said IN C ought to have gone ahead to declare the result since the margin was not much, adding that the court should stop the planned supplementary election and announce the result as well as declare him winner since he was a joint owner of the ticket. The trial judge declined to rule in their favour and instead, urged them to go to the lection Petition Tribunal to seek justice. Six political parties had also approached the Tribunal, asking for the nullięcation of the November 21 governorship election in the state. Faleke, who was the running mate to the late candidate of APC, Prince Audu; former Governor Wada of PDP; Mr. Philips Omeiza Salawu of Labour Party (LP); Goodman Akwu of All Progressives Grand Alliance (APGA); Progressives Peoples Alliance (PPA) and ADC also ęled in their petition before the tribunal. Wada’s petition, signed by Chief Chris Uche (SAN), leading two other Senior Advocates of Nigeria (SANs) among other lawyers, had the IN C, Alhaji Yahaya Bello and the APC as respondents. Wada was the PDP candidate in the November

21 governorship election declared inconclusive by IN C and later concluded on December 5, after a supplementary election in 91 polling units across the state. Faleke, who held that IN C erred in law through the declaration on the grounds that the election by all standards was concluded, urged the tribunal to so declare and that the APC on the Audu/Faleke ticket won the election. It would be recalled that the LP and the PDP had failed to stall the inauguration of Bello. The parties had, in separate petitions at the Governorship lection Petitions Tribunal siĴing in Lokoja, asked the tribunal to stop the governor’s inauguration. The Tribunal Chairman, Justice Halima S .Mohammed, in her ruling, said that though the tribunal has Jurisdiction, contrary to insinuations, the motions were not contained in the original petitions. She explained that if court granted the motions ęled by the PDP and LP, it would deęnitely aěect the life of the original case before the court. The Chairman noted that the motions seeking the order of tribunal to stop the inauguration of Alhaji Bello as the incoming governor of the state were not part of the case before the tribunal. The Tribunal also struck out the motion seeking to stop the inauguration of Bello because he has no deputy as at the period of supplementary election of December 5, 2015, which was ęled by the LP legal counsel, Ruben gwaba. Justice Mohammed urged all the parties in the case for the accelerated hearing of substantive case, which will commence from next siĴing, warning that the tribunal will no longer entertain the pre hearing maĴers again. Counsel to Wada, Akubo, commended the tribunal ruling, saying that the present scenario in the state is novel and based on the novelty, that the world is watching Nigeria. gwuaba, counsel to the LP, also lauded the Tribunal for ruling, saying they were ready for the substantive suit before the court.

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ěJ * &,J J $ +J , * J + '-$ J J &'J * +'&J/ 1J!,J/'-$ J J!%('++! $ J '*J J,'J * ! , J+- +, & * J '' +J!&J , J '-&,*1= '/ . *>J '*J J,'J,*-$1J '%($ , J , !*J)- +,J, J & 1J/!$$J& J,'J +,H ,* #J, J * !, ,!'&J' J', *J$ +J!&J !ěJ * &,J * +J, * 1+-(('*,!& J', *J + ,'*+J & J# 1J($ 1 *+J' J, J '&'%1= J %-+,J $+'J &+-* J -% &J ( !,1J . $'(% &,J +( ! $$1J !&J , &! $J * +J +- J +J , J ,!'& $J ,*'$' 1J &+,!,-, J & J, +,+J * !, J $ +=J 1J %-+,J !& * +!& $1J ($'1J , &'$' ! $J,''$+J,'J J ,J+- +, & * J

(*' - ,J & J(* ,!+ +J ĴJ *= -*, *%'* >J , J '. *&% &,J %-+,J * , J !& &,!. +J '*J (*!. , J !&. +,'*+J ,'J !&. +,J !&J J )- $!,1J !& * +,*- ,-* J +J J &&',J 'J!,J $$J $'& =J &J !,!'&J % &- ,-* *+J + '-$ J J & '-* J ,'J -1J!&,'J, J( !$'+'( 1J' J/'*#!& J & J '%($1!& J ,'J +, & * +J / ! J -,'% ,! $$1J - * &, +J ĴJ *J $!.!& J '& !,!'&+J & J!&J 0, &ĴJ J(*'%',!'&J ' J J!&J ! *! J '' += J , J & 1J '&,!&- +J ,'J J ,J +- +, & * J '' +J!&J, !+J% && *J & J +!+,J *'%J '%($ & 1J , &J % 1 J +'% 1J J ! *! J /!$$J 0!+,J / * J +, & * +J & J )- $!,1J '' +J /!$$J * ! &J+-(* % $1J '*J, J & J,+J' J, J ! *! &J !,!2 &+J & J '&'%1=

!# J J *'-(J ' J . & $!+,+>J '&J J -%! J ,' *J46>J, J J+, ěJJ & J ', *J +,- &,+J ' J +, & * +J (*'- $1J !+($ 1 J , !*J && *+>J J! *+J & J ($ * +J/!, J+, , % &,+J'&J, %J$!# J D - +, & * J #!$$+J , J '&'%1>EJ D $#J !&+,J - +, & * >EJD 1J +J 'J J<J EJ & J% &1J %'* J +J, 1J '&,!&- J, !*J$'& J/ $#J ,'J*! J, J '-&,*1J' J+- +, & * J '' +J & J (* ,!+ +=J & J , 1J %! ,J &',J J *J / 1J *'%J * !& J , J (*'%!+ J $ & =

NEWSWATCH TIMES POLITICS NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

YAHAYA BELLO, BEST GOV FOR KOGI –Ugwolawo, Igala chief

INSIDE

You can’t separate NASS from Nigerian politics –Balogun pg. 12

Benue pensioners confront Gov Ortom pg. 13

Igbos believe in one Nigeria, but want justice –Anozie

pg.14

10

NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

POLITICS

Yahaya Bello, best gov for The State Coordinator, Buhari Support Group in Kogi State,Dr.Yakubu Ugwolawo,is a diehard supporter of Governor Yahaya Bello who was sworn in last Wednesday. Usually, Governor Bello refers to Ugwolawo as ‘my god-father’. He recently opened up on the crisis rocking the All Progressive Congress (APC), in the state following the death of the governorship candidate of the party, Prince Abubakar Audu. The 70 year old politician who is the President of Igala National Solidarity Association was one leader from Igala land who supported the Kogi governor during the APC primary election where he came second. But providence has trusted on Bello the mandate to lead the state. In this interview, as the political mentor of the governor, he spoke glowingly of how Bello will lead the state to a new height, devoid of all that has been holding it down. ADEMU IDAKWO was there and he reports. Excerpt:

W

‘¢ȹ Â?Â’Â?Čą ¢Â˜ÂžČą ÂœÂŽÄ´Â•ÂŽČą Â?Â˜Â›Čą Š‘Š¢ÂŠČą ÂŽÂ•Â•Â˜Čą ÂŠÂœČą ¢Â˜ÂžÂ›Čą ™›ŽÂ?Ž››ŽÂ?Čą ŒŠ—Â?Â’Â?ŠÂ?ÂŽČą  Â‘Ž—ȹ ¢Â˜ÂžÂ›Čą Â”Â’Â—ÂœÂ–ÂŽÂ—Čą  ÂŽÂ›ÂŽČąÂŠÂ•ÂœÂ˜ČąÂ’—ȹÂ?Â‘ÂŽČąÂ›ÂŠÂŒÂŽČąÂ?Â˜Â›ČąÂ?˜Â&#x;ÂŽÂ›Â—Â˜Â›Çľ One thing is that I am a Kogi indegene to the core in as much as I am an Igala person. It was Yahaya Bello that approached me, having seen in me a detribalised individual to give him support for his political ambition as governor of Kogi State. Maybe if any other Igala person had approached me, I would have thought of giving him my support. But out of all that contested for the APC primary election, it was only Bello that approached me for support. ‘Žȹ Â?˜Â&#x;ÂŽÂ›Â—Â˜Â›Ç°Čą  Â‘’•Žȹ ›ŽŒŽ’Â&#x;’—Â?Čą Â‘Â’ÂœČąÂŒÂŽÂ›Â?’ęŒŠÂ?ÂŽČąÂ˜Â?ȹ›ŽÂ?ÂžÂ›Â—ÂœČąÂ?Â›Â˜Â–Čą Čą ›ŽÂ?Ž››ŽÂ?Čą Â?Â˜Čą ¢Â˜ÂžČą ÂŠÂœČą Â‘Â’ÂœČą ™˜•’Â?Â’ÂŒÂŠÂ•Čą Â?˜Â?Â?ŠÂ?‘Ž›ȹ Â?‘ŠÂ?Čą Â?ŠžÂ?‘Â?Čą ‘’–ȹ ™˜•’Â?Â’ÂŒÂœČą Â?Â˜Â›ČąÂ˜Â—ÂŽȹ¢ÂŽÂŠÂ›ÇŻČą ˜ ȹÂ?Â’Â?ȹ¢Â˜ÂžČąÂ?ÂŽÂŽÂ•ČąÂŠÂ‹Â˜ÂžÂ?Čą Â?‘ŠÂ?ČąÂŽÂžÂ•Â˜Â?¢ȹÂ?Â›Â˜Â–ČąÂ?‘ŽȹÂ?˜Â&#x;ÂŽÂ›Â—Â˜Â›Çľ I was highly elated and that was an indication that he can recall his background as a successful individual and those that contributed towards his progress and I thank him for acknowledging my contributions. All

Bello

that happened and is still happening is the dictates of the Almighty God and not any man. I actually gave a guide along with others with my whole heart to ensure that the project succeeded in addition to the divine intervention leading to his emergence as Governor elect. Â?ČąÂŠČąÂ™Â˜Â’Â—Â?ČąÂ™ÂŽÂ˜Â™Â•ÂŽČąÂ?‘˜žÂ?‘Â?ȹ‘Žȹ ÂŠÂœČą Â?˜’—Â?Čą Â?Â˜Čą Â?ž–™ȹ Â?‘Žȹ Čą ’—ȹ œ™’Â?ÂŽČą ˜Â?Čą Â‘Â’ÂœČą Â&#x;Ž›¢ȹ ‹›’Â?‘Â?Čą ÂŒÂ‘ÂŠÂ—ÂŒÂŽÇ°Čą ÂŽÂ&#x;Ž—Â?žŠ••¢ȹ ‘Žȹ Â?Â’Â?Čą —˜Â?Čą •ŽŠÂ&#x;ÂŽČą  Â‘ŠÂ?Čą  Â’ÂœÂ?Â˜Â–Čą ÂŒÂŠÂ—Čą  ÂŽČąÂ?›Š ȹÂ?Â›Â˜Â–ČąÂ?‘ŠÂ?ČąÂ?Â˜Â›ČąÂ?Â‘ÂŽČąÂžÂ™ÂŒÂ˜Â–Â’Â—Â?Čą Â˜Â—ÂŽÂœÇľ I think Yahaya Bello should be regarded as a unique individual. Within the one year of our working together, I had the privilege of actually geÄ´ing really close to him. The man believes in doing whatever he is set to do rightly because before he ventures into anything at all, he must have studied it and convinced himself that it is the route to follow. That is my personal assessment of him. Even when he lost the election, he conÄ™ded in me that there was no reason to leave having come second in his Ä™rst aÄ´empt with 709 votes while the winner, Prince Abubakar Audu had 1109 votes. The next person to

The constitution that allows deputy governorelect to be sworn in at the disappearance or death of the governor elect is there. It did not say the deputy governorship candidate. If Audu were alive, would he have refused to participate in the supplementary election? No.

him who had been in politics a liÄ´le longer than him scored 400 votes. The next runner up Gamji scored 302 votes. So he was patient and patience gives honour to an individual. It was only speculations because he did not at any time made any aÄ´empt to defect to another political party. First and foremost, of the 709 votes, 407 votes came from Kogi East delegates which showed that he was basically accepted all over the place, particularly among the Igalas that people would fear may not give him their votes and he continued to serve the party and he was actually in the party before the unfortunate demise of our former candidate which gave him the opportunity to serve the state as he intended to do. I believe that with this kind if serious determination to use God as means of achieving his goal, certainly he will do well as governor of the State. ž›’—Â?Čą Â?‘Žȹ œž™™•Ž–Ž—Â?Š›¢ȹ Ž•ŽŒÂ?Â’Â˜Â—Ç°ČąÂ‘ÂŽČąÂ?ÂŽÂ?ŽŠÂ?ÂŽÂ?ČąÂ?Â‘ÂŽČąÂ’Â—ÂŒÂžÂ–Â‹ÂŽÂ—Â?Čą Â?˜Â&#x;ÂŽÂ›Â—Â˜Â›Čą ’—ȹ Â‘Â’ÂœČą Â˜ÂŒÂŠÂ•Čą ˜Â&#x;Ž›—–Ž—Â?Čą ˜Â?Čą ˜Â?Â’Čą Â?ŠÂ?ÂŽÇŻČą ›Žȹ ¢Â˜ÂžČą œŠ¢Â’—Â?Čą Â?‘ŠÂ?Čą Â?‘Žȹ Â?Š•Šȹ Â’ÂœČą Â&#x;Ž›¢ȹ Œ˜–Â?˜›Â?Š‹•Žȹ  Â’Â?‘ȹ Â?Â‘Â’ÂœČąÂŒÂ‘ÂŠÂ—Â?ÂŽǾȹ From the word go, even before I got to him at all, as the President of the Igala National Solidarity Association, we set up a commiÄ´ee to look at individuals that were in the contest particularly from the other side of the river that would come out and be acceptable to the generality of Kogi people. They endorsed this young man because they knew that everybody in Kogi State has the right to gun for the governorship position irrespective of his religion and tribe. In the Ä™rst place, to buÄ´ress the fact that the Igalas were in support of his candidature, they gave him 407 votes out of 709 in the primary election and at the supplementary election,

he did not only defeat the incumbent governor in his Local Government of Dekina, he also won some part of Kogi East . So, what is happening now should not to be seen as an uprising against the emergence of Bello. I think people are really exuding the shock over the demise of the late candidate of the APC, Prince Abubakar Audu. In fact, many of them believed that the relationship that existed between them and Audu could not be reinvented with Yahaya Bello even on personal ground. So, most of those that were aggrieved were feeling so because of that. But with time, they would understand and allow God’s intervention to prevail. So, it is not that every Igala person is unhappy with the emergence of Bello. It was that initial shock and you know they are human beings so all we have to do is to appeal to ourselves to accept the reality as it has presented itself. So, the Igalas are happy with Bello. žÂ?Čą Â?‘Žȹ ›ž——’—Â?Čą –ŠÂ?ÂŽČą Â?Â˜Čą žÂ?žǰȹ

Â˜Â—Â˜ÂžÂ›ÂŠÂ‹Â•ÂŽČą ÂŠÂ–ÂŽÂœČą Š•Ž”Žȹ Â’ÂœČą ÂœÂ?’••ȹ ›ž——’—Â?ČąÂ?Â›Â˜Â–ČąÂ™Â’Â•Â•ÂŠÂ›ČąÂ?Â˜ČąÂ™Â˜ÂœÂ?ČąÂ?Â˜ČąÂŽÂ—ÂœÂžÂ›ÂŽČą ‘Žȹ Â’ÂœČą Â?ŽŒ•Š›ŽÂ?Čą ÂŠÂœČą ˜Â&#x;ÂŽÂ›Â—Â˜Â›Čą ČŽÂŽÂ•ÂŽÂŒÂ?ÇŻČą Â˜Â—Č‚Â?ȹ¢Â˜ÂžČąÂœÂŽÂŽČąÂ?‘ŠÂ?ČąÂŠÂœČąÂŠČąÂœÂ—ÂŠÂ?Ǿȹ This issue is in court and at the tribunal. What I will like to say is that based on what is on ground, Bello was declared Governor- elect after the supplementary election and even for the supplementary election, Faleke was the deputy governorship candidate. We have been reading between the lines on the position of the party and even in the electoral act it was clearly stated that a person must contest or run in all the processes, including the primary election and including screening and so forth. If the party hierarchy felt that they have an option that will help it survive the legal hurdles and so decided to make reference to the primary,

NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

11

POLITICS

Kogi –Ugwolawo, Igala Chief then I think so be it. As for Faleke, being a Nigerian, he has a right to complain and he is complaining. So we leave everything for the tribunal to decide. In my personal view, I think the man came not to contest for governorship but was appointed by late Audu as his running mate not until the process of election was completed he could not say that he is the Governor- elect. The constitution that allows deputy governor- elect to be sworn in at the disappearance or death of the governor elect is there. It did not say the deputy governorship candidate. If Audu were alive, would he have refused to participate in the supplementary election? No. As of 22nd when it was declared by the returning oĜcer that election was inconclusive, Prince Audu having scored over 40, 000 votes over and above the PDP candidate, would he have refused to participate in the supplementary election? The answer is no. Then who is now talking of supplementary election not being necessary. There are so many expectations from the young man coming on board. How is he going to meet up? Yahaya Bello celebrated his 40th birthday last year. That means he is yet to be 41 years old.That means there is a generational change from the old brigade that have been ruling the state to the new generation which is more concerned about universality, education, youthfulness and involvement of the youth in governance. Now, what are the signs that there will be a paradigm shift? While he campaigned, he refused to aĴend the meetings for power shift because he does not believe in power shift as in those who will always say that the Igalas have dominated the leadership of the state-the political space. He never believed in that power shift agenda but he came on board as a man who is qualięed to lead the state and to provide the essential ingredients of democracy to the people because he is aware that hunger does not know tribe, bad road, unemployment and even sickness don’t spare any tribe. This is universal. When he leads with that on his mind, certainly, the people would be encouraged to unite, beside that, you know what has happened for the Igalas to give him 407 votes out of 709? They must have studied him and wanted to key into his vision for the state and must have perceived him as a bridge builder in the

Ugwolawo

provision of infrastructural amenities plus his good will from the generality of the people. He is also a humble gentleman, even from his physical appearance. Who will bother to tell the entire world about one’s mentor in my person at a very crucial moment? When he said Dr. Yakubu Ugwolawo has been my political mento, not everybody would like to do that. He is ready and willing to carry along everybody that is within the State for the good of the State. We are looking at the State which is almost on its knees with almost three months outstanding salary not paid and projects that were stopped halfway as a result of dwindling ęnancial situation in the country. How would Bello manage the State? Many that have governed the state in the past came from the private sector. He is also having that background. But look at the diěerence; ęrst executive Governor late Prince Abubakar Audu, Former Governor Ibrahim Idris and the outgoing Governor Idris Wada came

If the party hierarchy felt that they have an option that will help it survive the legal hurdles and so decided to make reference to the primary, then I think so be it. As for Faleke, being a Nigerian, he has a right to complain and he is complaining. So we leave everything for the tribunal to decide

in from all private sector. But Bello had a stint of 15years experience working with government and not in any ordinary sector but at the Revenue and Fiscal Mobilisation and Allocation Commission where he worked at the federal level. He is coming with unquestionable integrity. For that, he is well placed to know how to use the resources available to get what he wants. Lean purse, yes. If not squandered on frivolity, but judiciously utilized, then, positive results would be achieved. His wealth of experience in his private business in transport and other engagements was training ground. So, we know that he has a background that traverse along what to do to manage the economy of the state. One thing we have realized is; integrity means being able to bring people with integrity to work with him, when we look at what Buhari is doing, I think he will copy Buhari in ęscal discipine, eěective monitoring and evaluation of his lieutenants and of course, bring the technocrats and expertise of those who know what to do in governance so that at the end of the day, we would get democracy dividends as we have not been able to get all these years. Since he was not coming as an Ebira, Igala or Okun governor with what has happened he is coming as Kogi State governor. With that background he is coming with humility and simplicity and ability to expand the horizon of his search for viable options to create prosperity for the state, certainly he will succeed. What of the allegation of anti party against him. As his mentor, what is your reaction to that? He has already disagreed with those allegations. What else do you want me to tell you? At least, he owns himself. He has said he did not do any

aanti party and I did not see him do aanti party activity. Anti party activity is when someone refuses to abide by a p party’s decision and instead of taking aappropriate measures to be able to g go in line with that decision, you ssaid you don’t agree. Those who are eengaged anti party activity are those w who are claiming that he should not b be governor because the party had m made him a replacement for the late A Audu and he won the supplementary eelection. In Kogi State, ask anybody, only fe few persons contributed to the APC eelections in Kogi. Forget about what h happened after the Presidential eelection. Bello spent fortunes running b building the party through his K Kogi Youth Arise Program. For the cconęrmation of this, go to the state ssecretarial of the party. So, at what p point are they alleging that he did not ccontribute to the development of the p party? If they are talking about when la late Prince Audu was traversing the sstate to campaign, every stake holder ccontributed his own quota towards th the success of the election. Let me add th that it is not about going about with A Audu during campaign that means ccontribution because many people w would say they followed him to all th the places. That is not enough. I think I am holding very important position aamong the Igalas in Kogi State. S Secondly, I have been in the APC right from the outset even before the merger. With this background I know the history of what is Kogi today. Our fathers loved themselves when it was Kabba Province, that is, between 1906 and 1966 when the military came in to power. The modern Kabba province came into power in 1916 till 1966. Kabba province was the cook House for the Northern Nigeria in terms of the contribution of civil servants and other assistance to the governance that thrived then. What is really mitigating our unity now is the self centeredness of some individuals. We can do beĴer as a people if we work as a team in Nigeria. Kogi is blessed because it has boundary with about 10 states. The only state that has that advantage of multiple interstate boundary, so we have to learn the positive aspects of those neighbours and cultivate that habit of productive instead of discriminating on the bases of tribe on who is Okun, Igala or Ebira. Our major setback is the individualistic approaches. We should learn to be communal- based and for now, let us give this young man a chance because the change we have been clamouring` for has happened in Kogi State in terms of generational change. This is not a mere change but a revolution that holds good prospects for our people. If we allow this opportunity to elude us, certainly, we would not be able to catch up with other states. Since Bello is gentle, not arrogant, he is in fact, very humble, simple and a man with integrity, those that are following him should emulate him. The inclination to vengeance may be because he is an Ebira, based on the notion that their time has not come up yet. Bello did not say his own time has come. For us that are working with him, we should show that dexterity to be able to carry everybody along as Bello is doing.

12

NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

POLITICS

You can’t separate NASS from Nigerian politics –Balogun Senator Lekan Balogun is a high Chief in Ibadan, the Oyo State capital. He is the Osi Olubadan of Ibadanland. Recently, he featured during a personality programme in Ibadan.The Osi Olubadan who is a chieftain of Peoples Democratic Party (PDP) spoke on creation of states, the National Assembly where he served between 1999 and 2003, probe of corrupt public officers and other issues. OLUSAKIN BABALOLA was there for Newswatch Times. Excerpts:

Balogun

I

badan project was a subject of interest during the last election. Can you please throw more light on the project? What I understood the Ibadan project to mean is the creation of Ibadan state. Ibadan deserves to get a state of its own, but, of course, there is the global question of how many states we can actually manage in the country. In the present 36 states in the country, many can’t even pay salaries of their workers. In the face of such inadequacies, I am worried about the need for creation of more states. In terms of the size of Ibadanland, it deserves to be a state. But in terms of Ä™nancing it, I am worried. Nevertheless to say,my mind is open to intellectual suggestions and debates on the issue. The 8th National Assembly started with conÄšict, Â&#x;iolent conÄšict with President Muhammadu Buhari’s remark that he would not work with enemies. The masses interpreted the remark as a reference to the presence of Senator Ike Ekweremadu as Deputy Senate President and the controÂ&#x;ersial manner the other principal oÄœcers emerged. What is your reaction to that scenario? Our leaders have not been able to interpret democracy properly. In democracy, you don’t have enemies. You may only diÄ›er at the level of ideas. Parties in the presidential system play roles, secondary roles so to say when it comes to appointment of leaders in government. After the election campaign, they go under. They only inÄšuence in a very discreet manner. You won’t Ä™nd them struggling to inÄšuence the direction of power. Presidential system makes for less of parochial partisanship. You are all senators and you know yourselves as senators that you will go to the Äšoor of the senate to elect your oÄœcers and some senators were siÄ´ing somewhere to choose their leaders for them while others went to the Äšoor of the Senate to elect their leaders. What’s wrong with that? What I heard the President said was that whoever they chose, he would work

with them. I did not hear him saying he would not work with enemies. Who are his enemies? As a President of Nigeria, he has no enemy; he has to work with all members of the NA if he wants to make progress. The hand of the party must not be seen even in trying to inÄšuence things in a discreet or distant manner since they are close to all of them. But they dare not tell the public that they prefer X to Y. It doesn’t work like that in a presidential system. Let the ruling and opposition members put their heads together and work together in the interest of Nigerian nation and the people. our party, both at the National and state leÂ&#x;els remain in disarray and you are still trying to Ä™nd your bearing. Why are things like this with a strong party now becoming a Lilliputian? In answering your question, I will apply the law of dialectics. It is a measure of the extent of a damage done to the party’s interest by the people in power at that time. President Goodluck Jonathan was a very pleasant man, but he lacked discipline. The extent of damage done to PDP was not known until after the election. But the liÄ´le that we knew, we fought every inch of the way. A former female minister became mightier than the president. She was indiÄ›erent to the interest of the president that appointed

her through his goodwill. She ruined the man politically. He had other few ministers like that who ruined his government, and at other levels some people ruined the party. You had a candidate who was going to win election, no maÄ´er what happened, they will say no, they wanted somebody else for subjective, stupid reasons and they destroyed the party across the country. Any hope again for the party in Â&#x;iew of the general acceptability of President Buhari who is an epitome of discipline and a dogged Ä™ghter of corruption? We are very optimistic that we will rise again. We will get over it. We are realistically talking. The apparent ineptitude of the ruling party is encouraging PDP leaders to come together and correct their ways. That is the only hope at the moment. We warned them of the consequences of their action and this is the result. Let us speak about Oyo State. Your party is Ä™nished in this state. Any hope for its reÂ&#x;iÂ&#x;al in Ĺ˜Ĺ–Ĺ—Ĺ&#x;? In democracy, there is hope for any party. What can improve the prospects of PDP is APC not doing the right thing. That is why I said earlier that APC should take a clue from the mistakes of PDP when it was in power. If APC did not learn from those mistakes, it would end the way of PDP. But let me assure you that the PDP has a bright chance of re-emerging if right things are done in the right ways. You seem to be warning those in power at the moment as well? Yes. We have started warning the ruling party as well. They should reÄšect Federal character, spread and intellect in whatever they do. They should be less concerned about scoring points against major opponents and be more focussed on ideological and national issues that have to do with Ä™nances of the various arms of government and not witch hunting. They would be wasting their time witch hunting. They should learn lessons from the ugly experience of PDP and use that to guide themselves and

You can’t separate the National Assembly from the SROLWLFDO RUGHU ,Q ZKHQ , ZDV WKHUH WKH ÀUVW WLPH they muted the idea of giving us N5 Million, some of us kicked against it and said Nigerians might stone us and that we didn’t want such money

their performance in oÄœce. There haÂ&#x;e been threats of probe by the administration of President Buhari. What is your disposition to this? You can probe by demonstrating that you can do things diÄ›erently. The public would know that it was not the way that things were done before and would appreciate it the more. But when you are making noise about probing individuals, you are suggesting malice and this might back- Ä™re. In the course of malicious probing, you might step on toes of some of your friends and then there will be confusion in the body polity and you end up injuring yourself which is not the original intention. Probing is not a positive aÄ´ribute. I don’t mind you leÄ´ing the people know how things were before you got there, but do not limit it to a particular government. Lawmakers at the 8th National Assembly were Â&#x;ictims of aÄ´ack by the public which alleged lack of seriousness in their commitment to national duties. Under this seemingly poor performance, can we achieÂ&#x;e the desired change for the beÄ´er in the country? You can’t separate the National Assembly from the political order. In 1999 when I was there, the Ä™rst time they muted the idea of giving us N5 Million, some of us kicked against it and said Nigerians might stone us and that we didn’t want such money. I was the last to take my own and it took me about two months. It was when I was sure that the money would go back to the treasury that I took it. But today, it is about N40Millon. I am sure there will still be few of them that will frown against it. There are some who will feel the way you and I feel, but they are in the minority. Overtime, if we are more careful on the choice of people we vote to the National Assembly, things would change. But the general orientation of Nigerians has to change on a lot of things. I have been there before and I believe that with just liÄ´le allowances, they can still be comfortable. This explains why governments Ä™nd it diÄœcult to pay salaries. We cannot continue like this. Local goÂ&#x;ernment elections haÂ&#x;e been put on hold for oÂ&#x;er four years in Oyo State. Is this a healthy deÂ&#x;elopment? It is undemocratic. In democracy, it is we, the people electing people we want to govern us whether at the local or state level. They should be accountable to people. But I don’t know why Governor Abiola Ajimobi has not conducted local government election. But since he is my brother, I would not like to ask him this question in the media. But it is undemocratic. It may be convenient for him as a governor, but it is oÄ›ensive to the rule of law. I suppose that as soon as the litigation of his second term is resolved, if he wins it, then he should sit down and do something about it.

13

NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

POLITICS

Benue pensioners confront Gov. Ortom Godwin Akor, Makurdi

R

ecently, civil pensioners in Benue State embarked on a demonstration to the People’s House asking for the payment of arrears of their N37 billion monthly pension and gratuity. The pensioners, who carried placards and green leaves to drive home their demand, was thickly populated by retired local government workers. The pensioners had believed that the money for pension was included in the bailout Governor Samuel Ortom requested from the Federal Government. But after listening to the governor’s explanation, the retirees numbering over 300 became convinced that even as the amount being owed them was included in the initial proposed bail out of N69 billion, the Federal Government decided that worker’ arrears totalling N28 billion should be paid ęrst. After the leader of the delegation had stated that the immediate past administration made pensioners to go into coma, they had expected Ortom to revive them. Even as he was told to sit down and speak, Ortom said: “The issue of money being owed pensioners touches my heart, many of you are in the position of being my father and mother”. As Ortom spoke, the elderly ones sat on the Ěoor of the banquet hall. While referring to many sections of the Bible to show that he did not collect bail out for the pensioners, the governor went into details of how the N28 billion bailout collected by his administration was being utilized. He said N12. 5 billion was for civil servants’ salary arrears while N15.5 billion was for local government workers and teachers. As he was speaking, some of the agitated pensioners who trekked for reasonable distance to be at the People’s House were interjecting thus: “We will not go until you pay us our money.” As the agitation continued, Ortom began to sing the song they were singing along with them: “All we are saying is pay us our bail out.” This approach adopted by the governor captured the aĴention of the pensioners who started listening to him. The governor said he was aware that some of them were receiving monthly pension of N5, 000 and below and stressed that if he had the opportunity, he would have increased the amount in line with what was the practice. He told the pensioners that he would be travelling to Abuja to present the special and unique problem of Benue State pensioners to President Muhammadu Buhari. He promised to give feedback to them after the journey. In order that he would continue to keep in touch with the pensioners, the governor appointed one of them a senior special assistant on pension maĴers. To show that he had details of the amounts being owed state and local government pensioners, he said retired local government workers were being owed about N17 billion while state retred workers were being owed about N20 billion. He said the state was being overwhelmed by debts left behind by the immediate past administration, pointing out that the problem made Benue people to ask him to probe that administration. According to him, as at the last count, Benue was having a debt burden of about N169 billion made up of bonds, contractual obligation, pension and salary arrears, bank loans, overdrafts and so on.

Ortom He said the state was ęnding it diĜcult to embark on projects, adding that the allocation that came to the state for the month of October was not enough for the payment of salaries. The state government was recently forced to combine allocations for the month of October and November to pay salaries and pension for the month of October 2015. One unique thing about Governor Samuel Ortom is that he tries to explain everything he says with reference to the Bible. Even as one cannot say that he used to speak on oath, he spoke without fear of contradiction that he is aware of the implication of his statements as he refers copiously to certain sections of the Holy Book. It is from this perspective that people tend to critically look at the problem of

Benue pensioners and the promise by the governor that he would continue to pursue the maĴer until it gets to a logical conclusion. It would appear that Ortom is not alone in this diĜcult situation which has made progress diĜcult. Not doing anything at all would make the populace to look at Ortom and other governors facing the same predicament as leaders trying to throw in the towel. As the Special Adviser to Governor Ortom on Media, Mr. Tahav Agerzua, said recently that the administration is ever forward looking because looking back would make it not to accomplish its task.” Agerzua told Newswatch Times that the only past issue that should be critically looked at is the way and manner the state’s resources were friĴered away by the immediate

In order that he would continue to keep in touch with the pensioners, the governor appointed one of them a senior special assistant on pension matters

past administration which almost turned workers and their defendants into beggars. The issue of the debt being owed pensioners appears to be close to Ortom’s mind as it is one of the problems that often take him out of Benue. He has given a challenge to the newly inaugurated revenue board to improve on internally generated revenue. He has given the board the mandate to ensure that there is no sacred vow in the payment of taxes. In line with his charge during the inauguration of the board, its new Chairman, Mrs. Mimi Adzape Orubibi, has embarked on a sensitization tour of ministries, departments and extra ministerial departments as well as local governments to explain the need for new sources of revenue to be explored in order to raise the states’ revenue proęle in view of decline in federal allocation. The problem of pensioners which is today, one of the major problems of Benue State, calls for understanding and roundtable interaction between the governor and leadership of the pensioners. Such a discussion would enable the state government to fashion out a programme for the seĴlement of the debt owed pensioners. It is being suggested that the governor should also be brieęng the pensioners on how far his discussion with the Federal Government has gone as regards the possibility of a bail out for them. Fortunately, some other states are pleading with the Federal Government to assist them with more bailout funds. This means that Benue State is not alone with the problem of diĜcult ęnancial situation. As the governor moves within and outside the state to discuss the way out of the problem, a soft loan arrangement with selected banks may help the situation. Such arrangement may be made in such a way that pensioners pay a token from their beneęts as interest for such loans while the state government guarantees the loans which should cover a reasonable period of time. The present situation of non payment of pension and gratuity to retirees calls for persuasion, patience, understanding and frequent appeals through eěective communication. Aside the option talked about, President Muhammadu Buhari should know that the problem of pensioners across the nation may soon explode as the elderly are becoming agitated, helpless and sick. The probable consequence of the diĜcult situation faced by pensioners in many states is that some of them may die because of poor feeding and diseases. Apart from the problems X-rayed above, many of the, pensioners can no longer cater for the education of their children. The situation is worse where the head of a family and his wife are both pensioners. While one sympathizes with both pensioners and Governor Ortom, it is being suggested that a stakeholders’ meeting should be convened for a discussion on the way out of the predicament. At such a forum, well meaning individuals and organizations could decide to assist the state through a fund raising ceremony aimed at aiding the pensioners. Above all, it is being suggested that a pension management board should be constituted for the state. Such a board should comprise of persons with impeccable characters.

14

NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

INTERVIEW

The Vice President of Ndigbo in Diaspora and Eze Ndigbo of Ibadanland and Oyo State, Dr. Alex Anozie has been sojourning in Oyo State for over three decades. Anozie who is the Chairman of Conac Optical Company with headquarters at Ososami in Ibadan employs Nigerians from both Eastern and Western parts of the country into his business. He spoke with newsmen in Ibadan on many issues. Expectedly, Anozie touched the agitation of his people at home on the banned Republic of Biafra. OLUSAKIN BABALOLA was there. Excerpts:

A

s the Vice president of Ndigbo, what is your disposition to the agitation of your people at home for the state of Biafra which has been outlawed by government?Is there any wisdom in their seemingly violent protests that claimed many lives? My Brother, I have consistently been stressing without mincing words that I strongly believe in the unity and oneness of Nigeria. As a true patriot, I cannot support division of Nigeria. But my position is anchored on some provisos or conditions. Number one is our acceptance of six geo political arrangement in the country. We have the South East, South West, South South, North East, North West and North Central. My dream of Nigeria is to see a country where all indigenes of these zones live freely without any atom of threat to their families. .Put simply, where there are equality, fairness, justice and equity to all and sundry. There must be sense of belonging for everyone. Rule of law must not be compromised. Are these indices missing in Nigeria of today? I want to assure you that if these are met, nobody would want to leave for any other country. Ndigbo wants to live in a nation where they are secured in every part of the country, get their own fair share of both the good and bad of the country just like other geo-political zones should also get it. Ndigbo wants to live in Nigeria rid of corruption. But there are Igbos among those accused of corruption? Look, let me tell you, Igbo’s who are among those who joined in the corruption saga, most of them did so because it already believed that corruption had become the norm, and therefore if you cannot beat them, you join them. Igbos are ready to join hands with good Nigerians who are sincerely thinking well for Nigeria to work for the goodness of Nigeria and they are already doing that. But disappointedly, you will see the same Igbos being short-changed for the worst. They have put in their best more than any group in Nigeria in terms of development of every part of the country. There are nowhere the Igbo man lives and he or she is not investing there. And in every part of the country you go, you see the Igbos becoming second in population only after the indigenes of that particular zone. These are very clear signs that Ndigbo believes in one Nigeria. But maybe those at home are feeling disappointed and thereby geĴing fed up of the whole thing, hence the agitations and protest. I may be right or wrong anyway. Generally speaking, what do you think could be done to appease Ndigbo to be happy to be in Nigeria? Ndigbo is not fastidious, they are very simple. In addition to what I have earlier explained, the Igbo man wants

to be assured of his security,safety and that of his family as well as his property in any part of the country where he ęnds himself. Believe me, when these are guaranteed, I give you ęve years, and the Igbo man will industrialize this country Nigeria with the ideas in his brain box. And when this is done, these industries will create jobs for our youths, and when our youths are gainfully employed, the rate of crime will drop, and you and I will go to bed and sleep with our two eyes closed. This is because the situation of things now is that insecurity is rife in most parts of the country. When we sleep very well, our health condition will improve. Let me inform you now that most of our adult is now hypertensive, go and check. So, when our health conditions improve, our life span in the country will increase. A school of thought says that the Igbos people are aggrieved because they are not in power at the centre is this true? Not deęnately. The Igbo people see no justięcations whatsoever on why an Igbo man or woman or any Nigerian from the south east has not been opportune to become the president of this great country, Nigeria, taking into consideration all the Igbo contributions towards Nigeria independence, development of the country and so on. Let everyone forget the civil war that was fought. All Nigerians in one way or the other contributed to the cause of that civil war which was most unfortunate anyway. We want to see the Yoruba man happy, the Igbo man happy, diĴo the HausaFulani happy, the other ethnics group happy then Nigeria can carry go. What is your position on the current war against corruption by the federal government? Well, it depends on how we look at it. Let us not forget that the baĴle has just started. So, I feel we should wait and see. It is only then that we can now determine if it is one sided or witchhunting. But at least, they have started somewhere and don’t forget that the EFCC will work only when it is fed with information.

Igbos believe in one Nigeria, but want justice –Anozie

Anozie

What will you recommend as a sanction for those found guilty of corruption, particularly looting the nation’s treasury? In my opinion, we should ęrst recover the looted funds.We should put such funds into use to bring back the country into economic buoyancy. Let those corrupt elements be released. But all their names should be published in the Newspapers with the amounts recovered from each one of them. And it should be legalised that none of them should again serve in the public oĜce in any capacity in their life time. I think that should be enough punishment for them. They should neither be killed nor jailed. My position is that if they are jailed, government will be compelled to build more well equipped prisons for them. But we can also come out with a very new constitution that will clearly spell out further severe punishment for future corrupt leaders. Insecurity has remained one of the bloody pains in our neck. From agitation for the Republic of Biafra and Shiites Zakzaky of recent and the old Boko Haram insurgency, what is the way out of this quagmire? Frankly speaking, I am not comfortable with the ugly development. I want to join all those calling for prayers for Nigeria. I believe strongly in the eĜcacy of prayer. The Bible says

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with God, nothing will be impossible. I don’t know if I should say that the government should put its eyes down and see if all these unexpected developments are coming from those who have earlier predicted the collapse of Nigeria after 2015.I guess they are working for the actualisation of their prediction. Another fear is that maybe the gods are not happy with the country. But like I said earlier, with prayers and the present government’s commitment to the execution of his agenda, all will be well with Nigeria. You were discussing Shiites clash with soldiers when I interrupted you. Would you mind continuing? Yes. When I read the Shiites problem with Nigerian Armyand I felt bad and I was worried. This is because I know how soldiers would react when the security of their Chief of Army Staě is threatened. But Like I keep on saying with God, we shall get over all these challenges. Any word of encouragement for our soldiers quelling Boko Haram insurgency? I congratulate them on their patriotism and gallantry. I want them to keep their Ěag Ěying. You can also observe like I do that the insurgents are running in all directions. I also observed that adherence to rule of law is bringing down the agitation for Biafra. Let us follow legal means to resolve our conĚicts. We must shun lawlessness. You are aware some forces are working against your title “Ezeigbo title in the diaspora’ What is your reaction please? To the best of my understanding and conviction, it is too late for anybody to work for its abolition. It was long ago registered with the Corporate Aěairs Commission (CAC)in Abuja. Not only that, none of us is bearing the title of any Oba, or Emir or Seriki of any area where we are residing. So, we are not competing with anybody or challenging with any Igwe or Eze in Igboland. It will be good that good Nigerians appreciate and encourage us Ndiezeigbo in diaspora for the wonderful, good job which we are doing in our respective areas of jurisdiction.

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Vibes

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21

NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

Sunday Business Economic growth as panacea for employment creation

Buhari

Ngige

The growth of an economy, especially as it relates to the wellbeing of its citizenry, is best measured by the number of its productive class that are meaningfully employed. In this analysis, FRIDAY EKEOBA x-rays government’s claims to growth in the face of dwindling economic indicators.

T

he continued drop in the value of the Naira as against other major currencies around the globe is one albatross that has continued to agitate manufacturers in the domestic economy. The increased gap in the exchange rate, which invariably has resulted in high cost of production and thereby making end users of the manufactured goods and services to pay more, has left a lot of tongue wagging as to what the year 2016 has in stock for the average Nigerian. However, to ensure that operations are kept going, majority of corporate organisations and Small Medium Scale Enterprises (SME’s) have raised the fear that they may have no other option than to drastically cut down their work force amongst other options that would be taken to navigate the hard times. Already, most business concerns, including the government, which ordinarily serves as the last resort to most job seekers, can no longer pay

their workers as and when due, all due to the economic indicators in the domestic economy taking a negative bend for some time now. There is no gainsaying that the government, at the close of transaction in 2015, did give an insight into what would transpire in 2016, asking Nigerians to get prepared for hard times in the New Year. However, one would have expected the government who has beĴer information at its disposal to put some palliative measures in place to cushion the eěects of suěerings Nigerians now found themselves. The recent observation made by the Financial Times of London may just be another signal that policy measure so far put in place by the government is not yielding any meaningful result, except for increase in goods and services and resulting in companies laying oě their workers. Some economic measures recently put in place by the government, including the Treasury Single Account (TSA), maintaining the ęscal policy,

MONEY & CAPITAL

Fair, orderly markets: Regulators reinforce commitment to Pg 25 resilience

which some experts said is not coherent and the proposed 2006 Budget, which is yet to be debated by the National Assembly, but have been described as budget of change despite some criticism to the contrary. Government eěort so far The government, through its agencies, have tried in no small measure to ensure that aside the real sector taking its pride of place in the domestic economy, funds will equally be judiciously deployed to revamp the agricultural sector. The decision to grow the agricultural cum the real sector in the country has been viewed as the two main sectors through which the economy can be developed as well as creating the much needed employment avenues for the young productive class to contribute their quotas to economic sustainability of the country. This was equally a major focal point of the recent past administration. However, while the government

‘ BUSINESS INTERVIEW

has the vision to achieve a sustainable economic emancipation in the shortest possible time, owing to what it described as massive pillaging of the country’s wealth, economic indicators have since shown that unemployment growth rate in the country may serve as albatross to the government’s developmental strategy. Recent statistics showed that majority of the productive class, which if put diěerently ought to be the life wire of a frontier economy, are either unemployed or not gainfully employed. Also, the real sector has had its complaints about the agencies of government not meeting the desire and the aspiration of going concerns that actually need the government funds to grow their businesses as well as helping to develop the large economy. To further put question marks to what the government promised during the electioneering period, the level of unemployment in the country is rising on a daily basis, and is yet to abate. Continued on Page 22

xx NEWS BUSINESS

Nigeria’s macro-economic World Bank lowers 2016 outlook, a cause for forecasts for oil, other concern –LCCI DG Pg. 24 commodities Pg.23

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BUSINESS COVER

Economic growth as panacea for employment creation

Continued from page 21

Recent regulatory position The Central Bank of Nigeria (CBN), during the tenure of President Goodluck Jonathan, said that 80 per cent of Nigerian youths are still unemployed, despite repeated ęgures released by the National Bureau of Statistics, stating that the Nigerian economy had been creating millions of jobs in the past years. The National Bureau of Statistics [NBS] said recently that the Nigerian economy created a total of 469,070 jobs in the ęrst quarter of 2015. In the job creation and employment generation survey, ęrst quarter 2015, the NBS said this ęgure represented an increase of 26.95 percent (99,585) over the number of jobs created in the preceding quarter. Statistician General of the Federation and Chief Executive OĜcer, National Bureau of Statistics, Dr Yemi Kale, said in the formal sector, which is predominantly “white collar jobs�, 130,941 new jobs were generated, representing 27.92 percent of total jobs generated in the ęrst quarter of 2015. This is a decline of 5.13 percent (7,085) when compared to the fourth quarter of 2014, according to the statistical agency. It explained that, however, this decline in the formal sector jobs often sought after by graduates created in the ęrst quarter 2015 represents the third straight quarter of consistent reduction in formal sector jobs. It stated that a total of 5,726 new jobs were generated in the public sector within this period. “On the other hand, there was also a 30.5 percent (1,339) increase in the number of jobs created in the public sector of the economy, making it 5,726 new jobs generated in the public sector in the ęrst quarter of 2015, the jobs generated in the public sector represents 1.2 percent of the total jobs generated during the reference period. “Under informal jobs, which typically consists of low skilled and often low paying jobs generated by individuals or micro businesses employing less than 10 or those businesses operating with liĴle or no structures e.g. those in subsistent Agriculture and Wholesale and Retail Trade,� it added. Government past moves While the government’s decision in taking a bold step to free its citizenry from poverty can be said to be germane, as it will, to a greater extent, checkmate every incidence of crime in the society, the policy statement of the government can be said to be a bogus claim, especially as it relates to having poverty statistic been pegged at a level, when to a plausible

extent, the policy is not rested on anything. The two mainstay of the economy, the Manufacturing and Small and Medium Scale Enterprises, by the last statistic in December, was described by economic watchers as still the most troubled in the economy. Notwithstanding the six per cent growth recorded in Gross Domestic Product (GDP) in 2013, coupled with the economy said to have enjoyed some growth, the Small and Medium Scale Entrepreneurs (SMEs) and the manufacturing sector remains the most troubled sector as evidenced by the negative investment sentiments expressed by the operators throughout the year. According to the Lagos Chamber of Commerce and Industry (LCCI) Economic and Business review for 2013, the most disturbing factors aěecting business are infrastructure limitations, unabated inĚux of imported and substandard products, poor access to credit, high cost of doing business, and the inhibitive activities of government regulatory/ monitoring agencies in the country. The Chamber explained that the Federal Government budget approval delays and poor implementation of capital projects remains another major concern for the private sector. “In an economy where government accounts for a major component of

expenditure, early passage and proper implementation of budgets are very crucial. Going into 2014, we hope to see a more responsive budget approval processes and improved implementation of the budget at both the states and the FG levels. “The chamber is concerned about the impunity with which creditors of public and private sector institutions are treated. This has become prevalent in the economy and needs to be urgently addressed. Some SMEs have been driven to bankruptcy because of this condition as there is liĴle regard for contractual obligations. The long, tortuous and costly judicial process has made redress from the courts a diĜcult option. We therefore appeal to public and private sector organizations to honour their obligations to their creditors in good time and respect the sanctity of contractual relationships,� said the Chamber. Infrastructural statistics The Nigeria economy, not been an exception, had no doubt tried within its limited expertise to ensure that the country and its people continue to enjoy the best of life. However, the gap in the basic necessities of life, which is said to be the primary measurement in the poverty life level of the people, is still far from being addressed. The last statistics in the area of infrastructure showed that

In an economy where government accounts for a major component of expenditure, early passage and proper implementation of budgets are very crucial

there is still 16 million housing deęcit in the country. The road networks in the country are still a challenge, even as electricity, which ought to have librated small businesses which are the major drivers of other economies, is still a source of concern. The outcry that trailed the recent postulation from the oĜce of the Nigeria Bureau of Statistic (NBS), that by 2015, only 27.2 per cent Nigerians will be rightly adjudge as being poor can be said to have further bellied or called to questions whether those ęgures are real. Until now, the NBS are yet to tell Nigerians on what parameters they based their calculation. In a country where 70 per cent of its people live in the rural areas, with virtually no commercial life, and wherein farming to take care of oneself and family is the way of life and other 30 per cent that live in the city centres cannot boast of being fully engaged productively, the NBS ęgures are further called to question. NBS earlier position Late in 2010, the NBS said that 112.519 million Nigerians live in relative poverty conditions and since then, no new ęgure is known to have been given This is staggering when compared with the country’s estimated 170 million population. Relative poverty is the comparison of the living standards of people living in a given society within a specięed period of time. It is the most acceptable poverty measurement which has been adopted by the NBS for many years. Apart from the relative poverty index, other poverty measurement standards are absolute measure, which puts the country’s poverty rate at 99.284 million or 60.9 per cent; the dollar per day measure, which puts the poverty rate at 61.2 per cent; and the subjective poverty measure, which puts the poverty level at 93.9 per cent. Instructively, all the four methods used in measuring

poverty by the NBS pointed to the fact that there was disconnect between the country’s Gross Domestic Product growth rate of 7.75 per cent and the high poverty rate. This relative poverty ęgure of 112.5 million, which was contained in the agency poverty proęle report, represents 69 per cent of the country’s total population. The 26-page report, which provides details of poverty and income distribution across the country, put the 2004 poverty measurement rate at 54.4 per cent. The Statistician-General of the NBS, Dr. Yemi Kale, while unveiling the report, had noted that the ęgure might increase to 71.5 per cent when the 2011 ęgure is computed. “The NBS estimates that this trend may have increased further in 2011 if the potential impacts of several anti-poverty and employment generation intervention programmes are not taken into account,� he said. In arriving at the 2010 ęgure, the NBS boss said data from 20 million households having an average of between four to six family members were collected. According to the report, the North-West and NorthEast recorded the highest poverty rates in the country in 2010with 77.7 per cent and 76.3 per cent respectively. World Bank position on Nigeria The World Bank recently expressed serious concern over the high poverty level in the country and called for intensięcation of reform initiatives in critical sectors of the economy as a strategic step towards alleviating its burden on the ordinary Nigerians. This is even as it noted that when Nigeria’s GDP growth rate promised great sustainable development potential, its current trend remains largely inadequate to tackle the high level of poverty in the country. The Bank believes that whereas governments’ policy reform agenda remains critical to aĴainment of the socio-economic policy goals of the current administration, there is a growing need to do more in areas of power and infrastructure development in order to lift millions out of the poverty trap. Proposing its economic palliatives as imperative to leverage the modest achievements of the country’s reforms, the Bank’s Vice President for African region, Makhtar Diop, said the Bank’s initiatives aimed at supporting the Federal Government in the power reform drive were aimed at socioeconomic empowerment of

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NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

BUSINESS NEWS

World Bank lowers 2016 forecasts for oil, other commodities Friday Ekeoba

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he World Bank is lowering its 2016 forecast for crude oil prices to $37 per barrel in its latest Commodity Markets Outlook report from $51 per barrel in its October projections. The lower forecast reĚects a number of supply and demand factors. These include soonerthan-anticipated resumption of exports by the Islamic Republic of Iran, greater resilience in U.S. production due to cost cuts and eĜciency gains, a mild winter in the Northern Hemisphere, and weak growth prospects in major emerging market economies, according to the World Bank’s latest quarterly report. Oil prices fell by 47 percent in 2015 and are expected to decline, on an annual average, by another 27 percent in 2016. However, from their current lows, a gradual recovery in oil prices is expected over the course of the year, for several reasons. First, the sharp oil price drop in early 2016 does not appear fully warranted by fundamental drivers of oil demand and supply, and is likely to partly reverse. Second, high-cost oil producers are expected to sustain persistent losses and increasingly make production cuts that are likely to outweigh any additional capacity coming to the market. Third, demand is expected to strengthen somewhat with a modest pickup in global

growth. The anticipated oil price recovery is forecast to be smaller than the rebounds that followed sharp drops in 2008, 1998, and 1986. The price outlook remains subject to considerable downside risks. “Low prices for oil and commodities are likely to be with us for some time,� said John Baěes, Senior Economist and lead author of the Commodities Markets Outlook. “While we see some prospect for commodity prices to rise slightly over the next two years, signięcant downside risks remain.� Beyond oil markets, all main commodity price indices are expected to fall in 2016 due to persistently large supplies, and in the case of industrial commodities, slowing demand in emerging market economies. In all, prices for 37 of the 46 commodities the World Bank monitors were revised lower for the year. Emerging market economies have been the main sources of commodity demand growth since 2000. As a result, weakening growth prospects in these economies are weighing on commodity prices. A further slowdown in major emerging markets would reduce trading partner growth and global commodity demand. “Low commodity prices are a double-edged sword, where consumers in importing countries stand to beneęt while producers in net exporting countries suěer,� said Ayhan

Google developing new AIpowered messaging app

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Wall Street Journal report has claimed Google is planning to take yet another stab at messaging, this time with an intelligent twist. The inclusion of artięcial intelligence in its new messaging app brings to mind “M�, the AI component introduced in Facebook Messenger this past summer. You can ask Google about stock prices, weather, songs, movie shows, etc. but beyond that the voice service doesn’t really tap into the vast amounts of data that the search engine giant has been collecting over the years. Now Facebook is working on advancing M, a kind of virtual assistant that will help users complete tasks like booking Ěights. However, Google’s approach sounds to be much more reliant on AI knowledge rather than having actual people answer questions on the other end. Why this is signięcant is because Fox aĴempted to acquire a company who builds chatbots called 200 Labs just a couple of months ago. It would also make sense for Google to open this kind of service up to developers in hopes of encouraging a third-party

ecosystem. A Wall Street Journal report has claimed Google is planning to take yet another stab at messaging, this time with an intelligent twist. The inclusion of artięcial intelligence in its new messaging app brings to mind “M�, the AI component introduced in Facebook Messenger this past summer. You can ask Google about stock prices, weather, songs, movie shows, etc. but beyond that the voice service doesn’t really tap into the vast amounts of data that the search engine giant has been collecting over the years. Now Facebook is working on advancing M, a kind of virtual assistant that will help users complete tasks like booking Ěights. However, Google’s approach sounds to be much more reliant on AI knowledge rather than having actual people answer questions on the other end. Why this is signięcant is because Fox aĴempted to acquire a company who builds chatbots called 200 Labs just a couple of months ago. It would also make sense for Google to open this kind of service up to developers in hopes of encouraging a third-party ecosystem.

Kose, Director of the World Bank’s Development Prospects Group. “It takes time for the beneęts of lower commodity prices to be transformed into stronger economic growth among importers, but commodity exporters are feeling the pain right away.�

Non-energy prices are expected to slip 3.7 percent in 2016, with metals dropping 10 percent after a 21 percent fall in 2015, due to softer demand in emerging market economies and gains in new capacity. Agriculture prices are projected to decline 1.4 percent,

with decreases in almost all main commodities groups, reÄšecting adequate production prospects despite fears of El NiĂąo disruptions, comfortable levels of stocks, lower energy costs, and plateauing demand for biofuel.

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Global leaders in business, government, academics to speak at Economist’s Nigeria Summit 2016

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he events’ arm of the foremost International socio economics news magazine, The Economist Events has concluded plans to hold the 11th edition of the annual Nigeria Summit. Slated for Monday, March 7 and Tuesday March 8, 2016 in Lagos, the 2016 Nigeria Summit will bring key government ministries oĜcials, industry and business leaders as well as representatives of the Nigerian civil society; together with international investors, economists and academics to discuss and debate Nigeria’s economic direction. Themed, The Dawn of A New Day, the summit will examine and review various opportunities and challenges that Nigeria is facing in view of her ęrst democratic power transfer and the implication of the global macro-economic forces as being shaped by the ridiculously fallen global oil prices which is the mainstay of the Nigerian economy. In view of this, The

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Economist Events has lined up an array of high networth personalities in government and commerce across the globe as speakers. They include: President Muhammadu Buhari, Vice-President, Prof. Yemi Osinbajo, Secretary of State, United States of America, Mr. John Kerry; President and Chief Executive OÄœcer, Dangote Group, Alhaji AlikoDangote; Chief Executive OÄœcer and Managing Director, Verod, Danladi Verheijen; Chief Executive OÄœcer, Access Bank, Nigeria, Herbert Wigwe and Minister of Industry, Trade and Investment, Nigeria, Okechukwu Enelamah. Other speakers and panellists are Director, Country Analysis, The Economist Intelligence Unit, PratibhaThaker; Founder and Chief Executive OÄœcer, Atlas Merchant Capital, Bob Diamond; Governor, Borno State, Alhaji Kashim SheÄ´ina; Founding President and Chief Executive OÄœcer, IMANI, Franklin Cudjoe; Head of Africa Investment

Banking, Barclays Africa Group, Philip Lindop, and Chairman, Hygeia Group, FolaLaoye, amongst others. Now in its 11th year, the Nigeria Summit is part of the Economist’ successful high-growth markets series that has become one of the leading events in Africa where business, government and ideas people meet. Chaired by a senior Editor from The Economist, the summit will explore the economic and social progress made to date and take an in-depth look at what the future will hold for Africa’s biggest economy Discussion will also be on how economic growth can improve security; strategy for placing economic growth at the heart of Nigeria’s eěort to unite the country; and; how Nigeria can achieve economic diversięcation away from oil, overcome challenges at plugging the holes in public ęnances (reduce oĜcial corruption), create jobs for its youth class, reducing poverty and improving purchasing power of the citizens.

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NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

BUSINESS INTERVIEW

Nigeria’s macro-economic outlook, a cause for concern –LCCI DG Instability of the Naira against other major currencies has brought about hike in the prices of goods and services in the domestic economy. The Director-General, Lagos Chambers of Commerce and Industry (LCCI), Mr. Muda Yusuf, in this interview, seeks government intervention to normalize the foreign exchange market. FRIDAY EKEOBA brings excerpts:

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oreign exchange market The Lagos Chamber of Commerce and industry [LCCI] appreciates that these are challenging times for the Nigerian economy. The pressure on foreign reserves has intensięed as crude oil prices continue to plunge. There is a resultant impact on the naira exchange rate with varying degrees of impact on all sectors of the economy. The macroeconomic outlook is a cause for concern. However, the quality of monetary and ęscal policy responses could have a considerable moderating eěect on the impact of this negative outlook on the economy, the investors and the citizens. We acknowledge steps taken by the CBN to manage the current conditions as follows: the closure of the CBN foreign exchange window; termination of foreign exchange sales to the Bureau de Change [BDC] operators; lifting of the prohibition of the deposit of foreign currency cash to the domiciliary accounts in the banking system and lifting

of transfers from domiciliary accounts for transactions outside the country, subject to specięed limits. These policy actions were inevitable in the circumstances. But the foreign exchange market is still characterized by considerable uncertainty which drives speculative activities and impacts negatively on investors’ conędence. Ameliorating the situation The apex bank needs to urgently articulate a comprehensive framework for the autonomous market [which is now the major forex market]. The scope of the market needs to be clearly deęned. In order to ensure a deep forex market, foreign exchange from the following sources should be allowed to be freely traded in the autonomous market: Diaspora remiĴances, export proceeds, Forex sales by foreign investors and multinational companies and the Forex sales by Donor agencies and other NGOs. The adoption of this model would have a signięcant moderating eěect on the

The CBN should lift foreign exchange restrictions on the 41 items, especially QRZ WKDW WKH &%1 RIÀFLDO IRUH[ window has been closed. The restrictions have caused considerable loss of jobs and many more jobs are at ULVN DV PDQ\ ÀUPV UXQ RXW RI VWRFN RI their critical inputs for production

Yusuf

exchange rate. Excessive regulation and documentation should be avoided as it could undermine the development of a robust autonomous forex market. Current controls and regulations of forex inĚows into the economy should be relaxed, without necessarily compromising the money laundering prevention measures of the relevant authorities. Overregulation considerably hurts the economy. It is paramount at this time to articulate policies that would stimulate and unlock the huge potentials in diaspora remiĴances and other capital inĚows into the economy. Diaspora remiĴances to Nigeria were $21 billion in 2014, according to World Bank sources. Meanwhile, we reiterate our call to the CBN to lift foreign exchange restrictions on the 41 items, especially now that the CBN oĜcial forex window has been closed. The restrictions have caused considerable loss of jobs and many more jobs are at risk as many ęrms run out of stock of their critical inputs for production. For the sake of economic policy coherence, any product that is not on the oĜcial import prohibition list of the Federal Government should have access to the autonomous foreign exchange market. Import prohibition is a vital trade policy maĴer which should be undertaken in an integrated manner with inputs from the Finance Ministry, National Planning, Trade and Investment and

the Nigeria customs service. The consequences of import prohibition are far reaching and go beyond the narrow perspective of conservation of foreign exchange. The dimensions of inter sectoral linkages, employment implications, customs revenue implications, breaches of regional and other international trade treaties should be taken into account. Fiscal policy measures [taxation and import tariěs] could be used, as and when necessary, to shape the behavior of economic operators as the policy thrust of government dictates. The normalization of the foreign exchange market is very crucial at this time to stem the current slide in the economy, factory closures, job loses, escalating prices, waning GDP growth and weakening investors’ conędence. The impact is being felt across all levels of investments – large companies, medium enterprises, small business, micro enterprises and the informal sector. The systemic signięcance of foreign exchange policy in the Nigerian economy needs to be well appreciated. This is partly as a result of the high import dependence of the economy, and also a reĚection of the increasing integration of the Nigerian economy into the global economy. It very important to get it right! A foreign exchange market characterized by transparency, liquidity and stability is imperative for rebuilding the economic growth momentum, boosting investors’ conędence, encouraging foreign exchange

inĚows and creating of jobs. On regulatory sanctions The Lagos Chamber of Commerce and Industry (LCCI) has observed with concern, the spate of regulatory sanctions in recent times, especially the severe, arbitrary and disproportionate character of some of the penalties. The LCCI is a ęrm believer [and indeed a promoter] of the ideals of good corporate governance and adherence to best practices in business. The LCCI would not support impunity under whatever guise. However, we also desire that the activities of regulatory institutions be in consonance with best regulatory practice. We note the recent sanctions as follows: N 1.4 trillion ęne imposed on MTN by the Nigerian Communications Commission [NCC] on account of non-registration of sim cards, N1 billion administrative charge imposed on Guinness by NAFDAC, penalty on Skye Bank to the tune of N 4 billion imposed by the CBN, penalty on First Bank of N 1.9 billion imposed by the CBN and Penalty of N 2.9 billion imposed on UBA by the CBN. We believe that sanctions should be proportionate and corrective. It should not be of such magnitude as to impose a shock from which recovery by ęrms may either be diĜcult or impossible. There should also be a clear framework and guidelines for the imposition of sanctions or penalties. The limit of regulatory discretional powers should be clearly deęned. The concern is that such powers are commonly prone to abuse and could predispose regulatory agencies to high-handedness and intimidating disposition. This certainly would not augur well for an economy that needs to aĴract investment. Already, the perception and ranking of Nigeria as an investment destination is unsatisfactory. For instance, Nigeria ranks 169 out of 189 countries proęled in the World Bank Ease of Doing Business Report for 2015. It also has a ranking of 124 out of 140 countries proęled in the global competitiveness report of the World Economic Forum. The regulatory environment is critical factor in this ranking performance of Nigeria. This is therefore not the time for intimidating and overbearing regulatory tendencies. While we do not condone infractions of extant regulations or guidelines, we believe there should be some restraint in the imposition of penalties by regulatory agencies in the interest of private sector development and the advancement of the Nigerian economy.

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MONEY/CAPITAL MARKET

SEPLAT projects $600m revenue in 2015

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Stories by Friday Ekeoba

ual listed Nigerian oil and gas upstream ęrm, Seplat Petroleum Development Company Plc said its projecting revenue of between $550 million and $600 million in its 2015 audited year end. This was contained in the company’s trading statement and operations update to the Nigerian Stock Exchange (NSE) during the week. “The information within this announcement has not been audited and is subject to further review and amendment,” Seplat said. “In what was a very challenging year for the industry, Seplat still delivered best-in-class production growth in 2015 with liquids output up 20 per cent and gas output up 119 per cent yearon-year, corresponding to a 41 per cent increase overall. With a

growing consensus that low oil prices are set to remain for at least the near term, we remain focused on what is in our control and steps we can take to maximise proętability. Production strength, with past investment strategies translating into the up-tick in output, provides some cushion to lower oil pricing and our gas business takes on additional importance by providing a revenue stream that is de-linked to the oil price together with revenue continuity in the event of disruptions to third party oil export infrastructure,” said Austin Avuru, Seplat’s CEO . “Furthermore, our strong focus remains on protecting the business and managing for value through driving further cost reductions, optimising operations, deleveraging and strengthening the balance sheet in preparation for opportunities that will inevitably follow this current downturn,” he added.

Bank of Ghana keeps benchmark interest rate at 26%

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hana’s central bank has kept its benchmark policy rate at 26 percent, citing moderation in the pace of consumer inĚation, its governor Henry Koę Wampah said. Ghana is under a threeyear aid program with the International Monetary Fund (IMF) to support an economy dogged by high ęscal deęcits and public debt, with consumer inĚation consistently above government target. The Bank of Ghana had set the current rate in November, its highest level in 12 years. “The current tight monetary stance, supported by the continuing ęscal consolidation and improvement in the energy situation have led to a low risk in the outlook,” Wampah told journalist. Ghana’s consumer inĚation rose marginally to 17.7 percent, one of the highest in the West African region but Wampah

said the central bank’s monetary tightening in recent months could limit any further rise. “Going forward, the commiĴee expects the slower pace of price changes to continue and steer inĚation down towards the medium target band of eight percent, plus or minus two percent,” Wampah said. Ghana’s economy is expected to pick up speed this year, even as the government abides by IMF-set spending limits, and Wampah said the bank had begun its zero ęnancing of the budget deęcit limit placed on it under the aid deal. The country is preparing to hold presidential and parliamentary elections in November which are expected to produce a tight race between President John Mahama and Nana Akufo Addo of the main opposition New Patriotic Party, partly due to economic concerns.

L-R: President, (Africa), Unilever Group, Mr. Bruno Witvoet; Senate President, Dr. Bukola Saraki and Managing Director, Unilever Group, Mr. Yaw Nsarkoh, during the group’s visit to the Senate President in Abuja...recently. Photo: Wale Adenuga

Fair, orderly markets: Regulators reinforce commitment to resilience

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lobal emerging capital market regulators met during week in Bali, Indonesia, at the IOSCO Growth and Emerging Markets (GEM) CommiĴee annual meeting hosted by the Indonesian Financial Services Authority to further work on strengthening systemic resilience while remaining alert to market risks. At the roundtable discussion with leading global market analysts, the GEM CommiĴee discussed current global ęnancial risks including the implications of declining economic growth and divergent monetary policies including uncertainties in the US Fed’s interest rate path, slowdown of the Chinese economy, decline in commodity prices, enhanced market volatility and their

eěects on emerging markets. Discussions also focused on the factors underlying some tight liquidity conditions and pressures on emerging markets corporate debt exposure, particularly given rising US dollar and interest rates. The GEM CommiĴee underlined the importance for emerging markets to continue to demonstrate an ability to withstand heightened volatility surrounding the global economy. “In this current sentiment-driven environment, it is critical that emerging market regulators continue to enhance structural resiliency and focus on building strong fundamentals and robust governance. Other important imperatives include policy and regulatory certainty, having in place sound market microstructure and strengthening domestic institutional capabilities.

PZ Cussons group Q2 PBT decline by -10.8%

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Z Cussons group has said that its 2016 second quarter trading ęnancials shows a -2.1 per cent sales decline and a -10.8 per cent drop in proęt before tax. According to FBN ues Research, a leading investment adviser, while rating that the company’s stock has underperform, the company currently trades on a 2016E P/E multiple of 27.7x for EPS growth of 7.9 per cent in 2017E and shows a downside potential of -13.8 per cent to FBN uest price target of N18.11. Some highlights in PZ Cussons ęrst quarter showed that sales was Ěat at N15.0 billion while proęt before tax and proęt after tax declined by -37.3 per cent and -32.1 per cent to N547 million and N377 million respectively. Although gross margin expanded by 68bps y/y to 27.6 per cent, partly due to inventory on hand, its impact

on the boĴom line was oěset by a signięcant increase in net ęnance charges to N165million from an income of N41million in the previous year as well as an opex increase of 7.5 per cent y/y. The company’s books further disclosed that, the 32.1 per cent PAT decline could have been worse but for a -48.4 per cent y/y decline in the tax charge as well as a -41.2 per cent y/y decline in minority interest. “Sequentially, sales, PBT and PAT fell by -26.4 per cent q/q, -78.7 per cent q/q and 75.8 per cent q/q respectively. We aĴribute the trend to seasonality eěects as 4 is typically the strongest quarter for PZ, although 2014 was an exception. Meanwhile, the PZ Cussons group said while it acknowledged challenges such as, forex constraints, pressure for a further devaluation of the naira

and the tough trade environment in Nigeria, explained that performance in the Home and Personal Care segment was robust. “However, the Electrical business was subdued given that customers shied away from the white goods market. Nonetheless, the ęrm maintained its dominant market share. “The company’s strategy is to mitigate the impact of the deteriorating macro environment on its Nigerian business. For the HPC segment, PZ intends to manage margins by improving volumes. It stated that it is adjusting the size of the toilet soaps to maintain price points and increasing the size of the laundry bars to make them cheaper to buy. PZ also aims to align with current consumer realities by diversifying product range. “On the assumption that there will

be a further devaluation, stock of raw materials (tallow) has been increased. Buying forex at the parallel market increased input costs and reduced the amount of oil that could be imported due to the scarcity of dollars at the interbank. PZ has agreements in place with all local suppliers of palm oil to serve as buěers although local oils require further processing to ensure the quality is up to standard. “PZ has stopped selling oil in bulk and has moved on to branded products which deliver higher margins and improve proętability (although lower top-line). PZ Wilmar edible oil brands, Mamador and Devon Kings’, showed good ęrst half growth. Backward integration of PZ Wilmar is going well. At the same time, overheads in the factory have been reduced.

The GEM CommiĴee is commiĴed to continuing its regular engagements with market participants to eěectively identify and address key risks. The Chairman of the GEM CommiĴee, Ranjit Ajit Singh said “Ongoing structural shifts in an increasingly interconnected global ęnancial landscape and synchronised cycles require deep and resilient capital markets that are able to withstand global volatility whilst allowing markets to operate in an orderly manner”. During the meeting, the GEM CommiĴee discussed its ongoing work on digitalisation and the regulatory impact of ęnancial technology (FinTech) on regulation, supervision, market surveillance, as well as the implications on market risks, incentives and behaviour. Members also discussed its current work on strengthening corporate governance and conduct in markets, noting the importance of high standards of corporate governance in ensuring robust capital markets and building international investor conędence. The GEM CommiĴee also held a regulatory exercise featuring a world ęrst cyberaĴack simulation involving participants across more than 40 jurisdictions, and focused specięcally on the role of securities regulators when dealing with cyber-aĴacks on regulated entities. The simulation provided a critical platform to raise awareness of the consequences of the evolving cyber-threat and to discuss eěective responses.

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NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

MOTORING

FRIDAY EKEOBA bostonremy22@yahoo.com

Honda Clarity Fuel Cell model debut

Subaru Forester tops safety list rating

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onda said on Friday that its 2016 Clarity Fuel Cell will sticker for about $60,000 when it goes on sale before the end of this year; however, the company is targeting a monthly lease price of less than $500. That’s not cheap, we know, but ęgure you’ll but puĴing hydrogen in this thing instead of gasoline and it gets a lot more palatable. Or at least it would have, if gas prices hadn’t fallen through the Ěoor recently. Honda says it expects limited volumes in the early stages, and for now, it’s only on sale in the Los Angeles and San Francisco areas, including Sacramento. The production Clarity has a fuel cell stack that’s 33 percent more compact than the one in the FCX concept and 60 percent more power dense. Honda says

the new stack now ęts under the hood, always a plus, and allows for more passenger space. Range should exceed 300 miles, says Honda, and refuelling time should be less than ęve minutes. As for features, the Clarity will come with the Honda Sense safety stuě, Apple CarPlay and Android Auto, LED lights and alloy wheels. This thing is starting to sound suspiciously like a regular car. California is the natural starting point for the Clarity, considering it currently has the best hydrogen infrastructure. Honda partnered with H2USA, which brings together all of the hydrogen players including the government, as well as First Element Fuel, which helped accelerate the building of more hydrogen fuel stations. According to the Air Resources

Board, there are 13 research hydrogen fuelling stations in the Golden State, nine public stations and 18 more on the way. On the other hand, business pub Venture Beat posted a story last year that reported many of the stations to be non-operational, while others had extra long lines. That’s something buyers will surely want to check into. Regardless, as emission concerns force a shift away from petroleum products -- something that’s going to happen wherever crude oil prices seĴle -- the infrastructure for alternative fuels will get beĴer. It’s hard to complain about a few minutes at a hydrogen station as opposed to 25 minutes to charge a baĴery -- as long as that station is open and in working order.

hen it comes to preventative safety the 2106 Subaru Forester wins big in Japan’s top safety rating. It’s not just the Forester that is winning for Subaru, it’s their entire vehicle lineup. This time, it’s the Forester SUV picking up Japan’s top safety rating in the Japan New Car Assessment Program (JNCAP) preventive safety performance assessment Subaru prides itself on building the safest vehicles on the road. Fuji Heavy Industries (FHI), manufacturers of Subaru cars, designed a preventative safety feature called EyeSight. FHI launched the EyeSight safety system in 2008 and is the world’s ęrst system to solely use stereo camera technology. It watches the road and helps prevent accidents by alerting the driver to potential dangers in the front, sides and rear of the vehicle before a crash occurs.

Preventative safety performance Along with the front detection in EyeSight, the enhancements to the system now allow the system the detection of the rear side by the radar system. The system features the new Subaru rear vehicle detection (rear side vigilance support function) which includes a blind spot detection, lane change assist and rear cross traĜc alert. JNCAP independently tests EyeSight Starting this year, the JNCAP preventive safety performance assessment involves a rear visibility test for capability evaluation of displays that provide the driver with information captured by rear-facing cameras. It also tests two systems, the Autonomous Emergency Braking System (AEBS) and the Lane Departure Warning System (LDWS).

Ferrari makes the California T handle sharper

2017 Audi R8 V10 Plus first drive

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he new-generation R8 now makes 540 hp and 389 lb-ft of torque in base trim or 610 hp and 413 lb-ft in “plus” versions. The plus weighs 77 pounds less than the standard, gets to 60 mph in 3.2 seconds and has a top speed of 205 mph. A seven-speed dualclutch transmission sends power to whatever wheels it deems ęt. The R8 uses an aluminium-

intensive double-wishbone setup front and rear. The Audi drive select system adjusts driving characteristics including steering weight, suspension, throĴle and transmission. Inside, the R8 comes standard with the Audi Virtual cockpit, which uses a customizable 12.3inch display instead of a gauge cluster to relay pertinent info to the driver. Nappa leather seats are standard on the base model, while

plus versions get a racing shell seat. A premium sound system is standard on the plus, optional on the base. It will be recall that Audi kept the design formula of the original R8, only gently revising the front and rear to be sharper and more aggressive. The new TT and A4 follow the same language. The fenders are a bit wider, and the company changed its side blade design to two pieces instead of one. The overall shape, which apes the Le Mans car in proęle, is basically unchanged. The V10 Plus gets a carbon-ębre spoiler; the standard V10 has a Ěush, body-colour piece that deploys at speed. Exterior, side blade and interior colours can all be customized through the Audi Exclusive program. The automaker displayed a slate-gray model with orange trim -- we’ll confess to liking it more than the standard hues we drove, which already got a lot of love from all the walkers and bikers along our route.

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errari has announced the California T will be geĴing a Handling Special (HS) package that will deliver a sportier experience for the driver. The package includes revised spring rates (16 percent stiěer for the front, 19 percent stiěer for the rear), retuned magneto rheological dampers, and new programming for the traction control system and

seven-speed dual-clutch transmission. Ferrari says the changes the package brings over the standard model can be felt when it is put into Sport mode. The HS package will also include a new exhaust system the allows the engine to sing its tune a liĴle bit louder. Outside, the California T HS boasts a maĴe gray grille, maĴe black tailpipes, and rear diěuser.

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NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

PERSONAL FINANCE

Attaining your financial goals Money Talk By Kenneth Doghudje

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E-mail: money@moneytalkng.com, 08023122649

h Year he Y 2015 is i currently over seventy days old; this is thus a fantastic time for one to revisit the goals set at the beginning of the year. Have you been making steady progress towards aĴaining them? If your answer is yes then you are one of the rarest few. Most people never get to aĴain their ęnancial goals, not to talk of exceeding them. The non-achieving generally tend to ascribe some other phenomena or force as the secret behind people who aĴain their ęnancial goals. I vehemently disagree. The secret of their success cannot be as a result of forces; rather it is as a result of applying a formula. This formula, made up of several steps will work for anyone anywhere if applied. I would like to share with you a winning formula to aĴain your ęnancial goals in 2015: AĴaining ęnancial goals begins with ęrst determining what these goals are. What exactly do you want? Can you be specięc as to determine the specięc amount that resonates with you? If you do not know what you want then how would you know when it arrives? Start on the road to aĴaining your ęnancial goals by having a clear picture of what it is you want to aĴain, acquire or amass. Once determined, then document your ęnancial goals. This is where many people fail to act. They assume because they have a retentive memory and a passionate heart their goals deserve the same treatment just to be kept in mind. People who write down their goals have an over eighty – ninety percent chance of success over those who do no such thing. Financial goals are meant to be retrieved on a regular basis in order to track progress. It pays to document your goals. The third step is to divide your ęnancial goals into smaller tasks and activities that need to be undertaken to aĴain them. Even though you have a yearly goal proceed to divide it into monthly and weekly plans and commit to taking action every day, week and month towards achieving it. A yearly target might seem large but when you divide it by ęfty-two weeks or three hundred and sixty-ęve days your ęnancial goals become more aĴainable.

Now comes the action part. You must act to achieve what you have planned and avoid procrastination. Take action now! Take action today! Get moving towards the aÄ´ainment of the plans and intentions stemming from your Ä™nancial goals. The world belongs to those who take action by making things happen. Remember that nothing ventured, nothing gained. You must embark on constant review of the entire steps, processes and activities that you are acting upon with a belief that it will produce wealth for you. Review is essential as this environment is in a state of constant change or Äšux. Strategies developed and implemented can easily require urgent amendment due to the speed by which change occurs in our environment. Ensure you review your performance and your strategy, take out the key learning and improve upon what exists in the environment. Keep sharpening the saw by investing heavily in your personal development and knowledge of money and the economy. How can you take advantage of opportunities that you do not understand or are not prepared for? It’s just like an untrained soldier being issued a riÄše when he has never Ä™red one before; he is apt to become worse oÄ› should he try to use it. Make your sharpening of the saw a weekly event. Invest in lifelong learning and development. Identify your weaknesses and Äšaws and learn to deal with them as they could hinder you from aÄ´aining your Ä™nancial goals. Finally, develop a needs-driven and problem-solving mindset. The Ä™nancially successful acknowledge that substantial Ä™nancial rewards are on the other side of problems and needs. In fact the richest people are paid the most because they meet the needs of most of the people in society. Succeeding Ä™nancially will be as a result of the reward you will be paid for solving problems. Life is a marathon, a long distance race in which you will succeed in winning the race of your Ä™nances by seeking out winning formulas and aligning yourself with them. You will never be perfect, but life allows you to keep making changes and adding Ä™nishing touches notwithstanding. Keep pushing and striving to ensure you aÄ´ain and exceed your Ä™nancial goals in 2015! Welcome to the league of the Ä™nancially successful! Kenneth Doghudje is an expert in Marketing Communication and Research, and is currently the Managing Director of GfK RT Nigeria Limited, the West African subsidiary of the GfK Group, the 4th largest market research company in the world. Doghudje is passionate about helping people achieve, ŠĴŠ’—ȹŠ—Â?ČąÂŽÂĄÂŒÂŽÂŽÂ?ČąÂ?Â‘ÂŽÂ’Â›ČąÄ™Â—ÂŠÂ—ÂŒÂ’ÂŠÂ•ČąÂ™Â˜Â?Ž—Â?Â’ÂŠÂ•ÂœÇŻ

Can money really buy happiness?

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e have been conditioned by the things we see around us; the designer clothes, bigger and faster cars, handsome men and beautiful women, elegant houses and reputable celebrities. These things and all we see are good, but it is high time you start thinking on how they will make you happy. Most people know that having a vision for their future, personality, family and professional priorities puts their ęnancial plan in place, thereby achieving their numerous goals; it then turns out that whosoever said “money cannot buy you happiness� is wrong. Money can buy happiness as long as you give some of the money away, or use it for an experience such as going out for a meal rather than buying a product. Simply put, having money may not buy happiness, but spending cash on life experience might bring people a certain amount of joy. This is because experience are more emotionally involve, and the way people spend their earnings can greatly inĚuence their overall mood and

perfection of life. Moreover, research gathered that spending habits and selfhappiness when compared with poor or average income earners and wealthy shows that the wealthy are considerably happier than those with average or poor income. One may argue that having more income can make you happier; or the fact that people who are more likely to give money to others and charity are just inherently happier people by character. Indeed, money can buy you happiness as long as you give some of it away or spent it rightly. Money is a basic need in life to pay for our everyday necessities and sometimes, more. So, giving money to charity does not imply that money buys you happiness. Instead there is this happy feeling you get when you give and help the poor. Also, seeing them smile not for the money, but to a new beginning in their lives or a way for them to excel in live. I want you to know that happiness is only limited in the sense that it pays for a moment not a lifetime. This means that money cannot really buy you happiness.

I found out that people who has millions of money in varying degrees always say “If they had a liĴle more, they would have been happy� This is a great misconception because “having more is not worse� but does not seem to pay oě in the way people think it will. It seems that the more money a person gets, the unhappy you become. If they would be honest with themselves, majority of the people including celebrities have all that the hearts longs for or wish for, but they have torn families, scandalous lifestyles and are blatantly unhappy. If money could buy happiness, then none of these problems would exist among them and other people in the society. So, I will agree that money oěer a means to make people happy, but true happiness runs deeper than the possessions. When you see poor people huddled together and sharing liĴle of what they have, that is sign of love- which brings about happiness. Their situations do not make them happy neither does money make it beĴer, but the root of their happiness stems from “love.

Wealth & Wisdom with Lanre ‘Inspirati’ Oyetade 08039428648 (SMS only) lanre.oyetade@mydailynewswatchng.com

6KRZ WKH SHRSOH /LJKW DQG WKH\ ZLOO ¿QG WKHLU RZQ ZD\ —Dante

Of price and value I was watching a television performance by the singer Christiana Aguilera on Christmas Day, and it was simply breath taking. No wonder she is one of the most popular and richest artistes on the face of the earth. The farmer and the singer And really, with the kind of money this woman and her type earn, I couldn’t but remember an artist’s impression in my Č A’ Level days at Igbobi College, which depicted two workers on a scale. The one worker was a farmer and was at the base of the income scale while the other was a singer and was depicted at the upper most end of the scale. I couldn’t help but wonder then, well over two decades ago, why a singer who merely provides you with entertainment should earn much more than a farmer, who provides the very food life requires to go on. And it is not too diÄœcult to relate to this even in our own local economy; go to the villages and even sub-towns, and see how the farmers just manage to eke out a living beyond providing the farm produce for themselves and their families and then, take a trip to the city proper, and discover just how well-paid and aÄ?uent the singers and artists are. Value vs. price So the questions on one’s mind are, what determines how valuable a thing is, including the very service you provide to make a living for yourself and your dependants, and then what determines the price men are ready to pay in recognition of that value? We all agree for instance that a loaf of bread contributes more to life than a piece of diamond, yet men are willing to pay much more for the diamond stone than for the piece of bread. So it follows clearly that the price you are oÄ›ered is not determined by just how much you think your product is worth to the buyer but his own perception of satisfaction derived from the product. A few deÄ™nitions here Value is deÄ™ned as the desirability of a thing often in respect of its usefulness; while the concept of price goes further to refer to the value of a good or service in terms of money. So the concept of value talks of just how useful the item is to the consumer while that of price particularly refers to the monetary value the consumer is ready and willing to part with for the product. And so, the plate of food is deÄ™nitely considered very useful by a hungry man but he may not be willing to part with a few hundred naira to get it while he would gladly pay thousands of naira to watch a top artiste perform. This explains why most experienced farmers may Ä™nd it diÄœcult to take care of their immediate families while the popular artiste, footballer, boxer or even golf player has enough to give millions away to charity. Bringing it home What price are men ready to pay for your service or for the product of that new occupation, profession or trade you want to embark upon? Ceteris paribus, the entertainer will most likely continue to earn more than the farmer, etc. So learn from history in deciding what service to render and how to render it in your quest for wealth - for some Ä™elds are deÄ™nitely more fertile than others – learn to sow your eÄ›orts in very fertile Ä™elds, taking your talents and inclinations into cognizance of course. An instructive explanation My wife’s explanation to the irony when I asked her opinion was that music and entertainment appeal to the soul and thus meet a higher hierarchy of need (a la Maslow) than food and such, which meet basic needs. And also that the appeal can and is usually Č sold’ to a huge crowd at one point in time through shows and the mass media, which the basic products may not be able to boast of. So it is pertinent to note these things and acknowledge them in one’s quest to make wealth. It is not enough to think that one would make a success of a business simply because it provides goods, which are Č essentials’ or Č necessities’ and which “no one can do without.â€? The questions to ask are; what are people ready to pay for this commodity? What kind of people (low-, medium- or high income) will patronize the business? Is the business I’m oÄ›ering capable of being given mass appeal at one point in time? What needs (basic or high level) does my product satisfy? Dear friend - for that indeed is what you are - if you take nothing away from today’s Money Talk, please take away the fact that some grounds are deÄ™nitely more fertile than others and endeavour always to sow your seeds in fertile soil. Watch out for details on the inaugural edition of Č Wealth for the Wise’ seminar, billed to hold on the Saturday, the 13th of January in Lagos. It promises to be eye opening! Until next week, when we meet-in-minds again, please stay INSPIRED in His presence. ŽŠ•Â?Â‘ČąÂ’Âœȹ Â‘ÂŽÂ—ČąÂœÂ–ÂŠÂ•Â•ČąÂŽÄ›Â˜Â›Â?ÂœČąÂ™Â›Â˜Â?ÂžÂŒÂŽČąÂ‹Â’Â?ČąÂ›ÂŽÂœÂžÂ•Â?Âœ Čą ˜Â&#x;Ž›Â?¢ȹÂ’Âœȹ Â‘Ž—ȹ‹’Â?ČąÂŽÄ›Â˜Â›Â?ÂœČąÂ™Â›Â˜Â?ÂžÂŒÂŽČąÂœÂ–ÂŠÂ•Â•ČąÂ›ÂŽÂœÂžÂ•Â?Âœ - George David ČŠ Â‘Â’ÂœČąÂŠÂ›Â?’Œ•Žȹ ÂŠÂœČąÄ™Â›ÂœÂ?ČąÂ™ÂžÂ‹Â•Â’ÂœÂ‘ÂŽÂ?ȹ’—ȹ ÂŽ Âœ ÂŠÂ?ÂŒÂ‘Čą Â’Â–ÂŽÂœČąÂ˜Â?Čą žÂ?žœÂ?Čą 31, 2014

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NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

GLOBAL BUSINESS Weak profits hit stocks as China backs Yuan

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hina’s stock markets continued to fall from Tuesday’s 14-month low during the week’s trading, amid worries about the nation’s slowing economy, as oĜcial ęgures showed further falls in industrial proęts. But Chinese state media again defended China’s currency, the yuan, saying there was no need for any sustained depreciation. Chinese media also continued criticism of billionaire investor George Soros, who said last week he did not have conędence in Asian currencies or China’s economy. The CSI 300 Index of leading stock was down 0.34 percent, following a 6 percent fall Tuesday. Other indexes fell further: the main Shanghai Composite was down 0.52 percent by mid-afternoon, while the Shenzhen Composite dropped 0.83 percent. Various analysts pinned recent declines to worries about China’s economy, which grew 6.9 percent in 2015, and 6.8 percent in the ęnal quarter of last year, its slowest rate in six years. Wednesday’s falls also followed oĜcial reports that proęts at major industrial ęrms fell 4.7 percent year-on-year in December, compared to November’s 1.4-percent fall, according to the National Bureau of Statistics (NBS). The survey of companies with revenues of more than 20 million yuan (around $3.1 million) showed a year-on-year fall of 2.3 percent to around 6.4 trillion yuan. Analysts also said that stock markets, already short of liquidity ahead of Chinese New Year in early February, were depressed by hints that Chinese authorities were not about to cut the reserve requirement ratio for banks. Many economists

have predicted such cuts, which would make it easier for banks to lend more money to businesses and thus stimulate the economy. But some reports said recently that China’s central bank, the People’s Bank of China (PBOC) was avoiding taking the step for fear of further damaging value of the yuan, which has fallen more than 5 percent since last August. Instead, the PBOC is reported to have focused on pumping money into the interbank markets through repurchase agreements. Chinese state media on Wednesday again sought to downplay speculation that the currency would fall further. An editorial in the oĜcial China Daily newspaper repeated the government’s mantra that there is “no basis for the RMB [yuan] to devalue over the long term as the Chinese economy remains robust.” Chinese oĜcials have said repeatedly that

the country does not need to cut the value of the yuan to stimulate exports, which have slumped, saying instead that they will focus on retooling the domestic economy. China Daily said the recent slowdown in growth was “within the expectations of decisionmakers, even though it seems to have surprised some.” Chinese media maintained their criticisms of George Soros, the veteran billionaire investor, who said during last week’s World Economic Forum in Davos that China’s economy could face a “hard landing,” and said he was not conędent in Asian currencies. The oĜcial Global Times on Wednesday published an article saying that Soros and other “Western pundits ... want China to fail.” It accused them of a lack of gratitude for China’s growth, which it said had kept the global economy “staggering along” over recent years.

Europe stocks, US stock futures down, Asian shares mixed ahead of Fed meeting

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tocks across Europe oěshore volatility,” Naeem fell Wednesday amid Aslam, chief market analyst another slide in oil at AvaTrade, told CNBC prices as investors Wednesday. waited cautiously for the In Europe, Germany’s outcome of a U.S. Federal DAX was trading lower by Reserve meeting scheduled 0.63 percent while London’s to take place later in the FTSE 100 was down 0.37 day. Stocks of European percent. France’s CAC 40 fell chipmakers also fell after 0.75 percent while the panSilicon Valley giant Apple European Stoxx 600 fell 0.7 Inc. forecast its ęrst revenue percent during early trade. drop in 13 years Tuesday. Meanwhile, Asian markets While no change in rates is were mixed Wednesday expected at the end of Fed’s with Japanese benchmark two-day meeting that began Tuesday, global markets will be looking at the Fed’s statement for an insight into the policymakers’ views on the economic environment and market volatility since the start of the year. “What maĴers for equity investors right now is the assurance from the U.S. Federal Reserve department that they are paying aĴention to the economic conditions, which are not only taking place domestically, but they Obama also need to react to

index, Nikkei 225, leading the charts, up 2.72 percent. Hong Kong’s Hang Seng Index was up 1.02 percent, while South Korea’s Kospi closed up 1.4 percent. India’s SǭP BSE Sensex closed mostly Ěat. Elsewhere in Asia, China’s benchmark Shanghai index extended its losses from a tumble, which pushed Chinese stocks to their lowest levels in over a year Tuesday. The Shanghai Composite Index closed 0.52 percent down while the Shenzhen Composite Index closed 0.83 percent lower. China’s Nasdaq-style ChiNext Index was up 0.17 percent. U.S. stock futures traded down as investor sentiment soured over falling crude oil prices and the lackluster outlook by Apple. SǭP 500 futures were trading down 0.62 percent and Dow Jones futures were trading down 0.37 percent. The tech-heavy Nasdaq futures were down 0.96 percent during pre-market trading Wednesday.

Economic growth as panacea for employment creation Continued from Page 22 all productive agents and improving the nation’s GDP growth He explained: “My personal assessment shows that the country is in the right direction. There has been sustaining growth of eight per cent for the recent years. Is it suĜcient? No. Is it suĜcient to reduce poverty at the rate that Nigerian authorities want it, hence the people of Nigeria want it? No. Can it be accelerated? Yes, there are some possibilities. How can we accelerate it? “It can be accelerated by tackling some of the obstacles. “The most critical of these obstacles is power. Power not only for the big companies and manufacturers, when I am talking about power, I am talking as an African who knows what it is when there is power shortage”, he added. Diop said, “Our work recently has shown that there is slight reduction in the level of poverty in Nigeria moving from 48 to 46 per cent. The trend is good. It needs to be accelerated obviously. Experts’ observation “There are more negatives than positives. If we look at the outcomes we have had in the past four months, they are quite drastic on the negative side. Gross Domestic Product (GDP) is declining; underemployment and unemployment are increasing, and the general level of economic activities is weak. The capital market is also declining. Coming from the position we were after the elections, when there were local and international goodwill and we had the opportunity to leverage on all that, unfortunately, foreign investment has stayed Ěat from the level we had in the ęrst quarter,” said Chief Executive OĜcer (CEO) of RTC Advisory Services Limited, Opeyemi Agbaje. According to the public policy analyst, the above situation can only be blamed on the absence of an economic direction. “Goodwill, on its own, is insuĜcient; it needs to leverage on the right policies,” he said, adding: “We have no policies, or at least, not a coherent policy. Nobody has deęned a coherent economic agenda. We are just doing things on a day-to-day basis.” The Treasury Single Account (TSA), particularly, has come under criticism. While experts acknowledged its constitutional basis, they argued that unless it is properly executed, it could stiĚe key economic nerves. “The major advantage of the TSA is the fact that it will

ensure and improve revenue inĚow into the Federation Account, and this will improve the ęscal stability of all the levels of government – federal, state and local. However, it is necessary to caution against the resultant bureaucratic boĴleneck that could be created in the disbursement of funds to the Ministries, Departments and Agencies (MDAs) for their operations. If care is not taken, the operations of some of the agencies may be crippled, if there is no adequate framework for speedy release of funds to the agencies for their daily operations. This is an area the authorities need to watch properly,” said Muda Yusuf, Director General of the Lagos Chamber of Commerce (LCCI). Asked what he thought could happen if the Central Bank of Nigeria insists on its policies, in view of the negative eěect some of these have on the real sector, Yusuf said: “Some industries will have to close shop, as their critical inputs diminish. There will be loss of revenue to government through customs duties, as there will be high decline in importation, especially through oĜcial channels. Contraction of economic activities will lead to loss of jobs. Nigeria’s country risk, as well as its sovereign risk, will be negatively aěected because of the liquidity crisis in the forex market. “The inĚow of forex through autonomous sources will remain low, round tripping will continue to Ěourish in the forex market, given the high premium between the oĜcial and parallel market, as well as the transfer market. Transparency problem in the allocation of forex by the CBN will become more pronounced and vulnerable to corruption. Banks will witness increase in nonperforming loans, as some of their customers face challenges with the current polices. Proęt margins of businesses will drop because of the increased costs imposed by this policy.” Manufacturers, a vital component of any thriving economy, have equally faulted policies of the CBN which they say are not in agreement with the ęscal policies of the Federal Government. “The CBN Governor, I’m sure, has reasons for what he is doing. I know he carries the interest of the country at heart, but maybe the way he is going about it is faulty,” said President of the Manufacturers Association of Nigeria (MAN), Frank Udemba Jacobs.

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"(= % = "! "(! = * ' = ' = * ,= %&4= ,"= ! = &#" = "* ! ,= "('= %& 5= =,"(= % =" =' = = ' '= "" =' ! &= % = % ='"= " = ,4= ; =! ) %= ) = = "( = = '=' &= %5<= & = !&= * = " % ! = ' &= % #"%' %= = &&= * ! 4= ; = % = "(%= != ,= ,= ! = = = ' = %&'4= (%= # % !'&= ! = '"= % & = (&= ! = = ' ! = " = = * !'= '"= ' = ! ) %& ',= " = "&5= ' ':&= * % = = = ,= %&'= % = != " #(' %=& ! = ! =* !'= '"= "&= ' ' = ! ) %& ',= "%= ,=

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

30

NEWSWATCH TIMES, SUNDAY, JANUARY 31, 2016

CUISINE Wines et al

Tayo Olanipekun

08032319698

tayo.olanipekun@mydailynewswatchng.com

How to drink and enjoy Scotch Whisky

T

Indulge your sweet tooth

E

verybody has a sweet tooth but the way you indulge it, is what maĴers. You can eat anything or go for the very best- gourmet desserts and other light meals. Nestled on a side street on the Victoria Island, the cafe oěer a quiet but posh atmosphere to relax and enjoy some naĴy snacks and chat with friends. On oěer at the cafe include the wonderful tasting cupcakes with your choice of icing. And you can actually do without the icing. For special occasions, it is no big deal to have the service come up with some creative designs for the icing. The tastes of fresh fruits like strawberry, nuts, apples, coconuts and even bananas in their oěerings are a commonplace. It is deęnitely a delight to your taste buds. For the health aęcionado who has a sweet tooth, the less sugar ice cream and cookies are a must have. The no-sugar options on their menu is a rich one even as a sugar trained tongue will notice the diěerent but really, it is a nice one. Take the Balsamic Strawberries with RicoĴa Cream made from Strawberries which are combined with tangy and sweet balsamic vinegar and creamy ricoĴa in this quick and simple dessert. Even as it is freshly made, you are tucking in to a healthy dessert in no time.

Java Banana

And the lite shortcake is truly what it claims to be, not packing all the calories but still carrying that taste that you crave in a short cake. You might even want to give up the classic short cake in favour of this one, provided it will be readily available when the craving hits you. Borrowing its name from the information technology world is the cafe’s Java banana; caramel or coěee glaze that forms over warm sauteed bananas which reminds you of the times when the sun is hot during these wet days. Have it on its own,

Caramel cake

Display of desserts Balsamic Strawberrieswith Ricotta Cream

If you would like your restaurant, bar, lounge and/or wine stock featured on this page, kindly get in touch via oseyitayo1@yahoo.com Tel: 08032319698

o adopt an amateurish deęnition of Whisky, let us say it is beer with less water(it is made from malt) and more alcohol but distilled rather than brewed and then aged in casks or oak barrels with provenance for an upward of two or three years. The aging makes it diěerent from Vodka, and in our past edition, we already explained why it’s also diěerent from Brandy, which is also red wine with less water and more alcohol. But how do you derive utmost enjoyment from Scotch? The ęrst step is to get the right Whisky glass. Experts say a tulipshaped glass is the best as it allows you to swill the content without spilling while concentrating the whisky aroma near the glass neck. You can as well use a wine or Champagne Ěute in the alternative. Then, pour yourself a small amount of Whisky and swirl it around gently to coat the sides of the glass with a thin ęlm of whisky and then allow the spirit to breathe. The enjoyment, of course, starts with the colour of the Whisky and its texture as the ęlmy coat rolls down the glass. Nosing is the next step. Bring the glass close your nose and inhale deeply, one nose ęrst, then the other. The ęrst nose will smell entirely of alcohol and the second, if you spend a good 20 or 30 seconds breathing in the Whisky, seĴing it down and coming back to it, will identify various smells and Ěavours the spirit evokes such as smokiness like malted barley; saltiness as in maritime smell in Whiskies from Scotland and fruitiness like dried currant, apricot or cherry. Sweetness like toěee, honey and vanilla are not left out as well and of course, woodiness, since it must have been aged in oak. At this point, you take a tinny sip (not so much that your taste bud becomes overwhelmed Ěavour of alcohol), to coat your entire tongue. Swish it in your mouth a bit and then have a ȁmouthfeel.’ Then, swallow the Whisky and open your mouth slightly to help taste the lingering afterglow of the drink. The Ěavour you discovered at this point is referred to as ȁęnish.’ Thus, when next you have your Scotch, don’t just gulp down the spirit but try the steps highlighted above. No doubt, you will derive utmost Whisky experience doing so, especially if you drink it responsibly at this return of harmaĴan.

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) %+* K $)*K #=K $ K* K & ( *K% K* K %( K # K # * "/K +&%$K #<K $ K * K %( )K * *K - ( K +&%$K )K (#)K # K )K K .K * *K - )K +($*K- * K K( <K $ K )K $ )K"%%) K (%#K%ě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ěK * %$;K )) %$K )K * K %#& "" $ K %( K ( , $ K K # $K *%K ĴK $K ( *$ ))K $ K , K . "" $ ;K *F)K $K $$ (K #%* , * $ K ĴK *+ K %(K )+ ));K )) %$K $)& ( )K+)K*%K" , K K" /;K *K )K%+(K& )) %$K * *K * (# $ )K- ( K- K %<K %-K- K& ( %(#<K $ K- *K- K %#&" ) ;K K/%+K( ""/K- $*K*%K #&(%, K $K K& (* +" (K ( <K $ ( ) K/%+(K" , "K % K& )) %$K $K* *K ( ;K , K* K %+( K*%K* ! K * %$K )& * K% )* " )K%(K "" $ );K )) %$K # ! )K * K ěK ( $ <K #%( K * $K + * %$<K $* "" $ <K%(K& %&" F)K ( $* ");K )) %$K )K # $ K $*K% ) )) %$KJK K)*(%$ K ) ( K /%$ K ( * %$ "K * $! $ ;K *K )K K )& ( *+ "K %( K * *K $$%*K K ( * %$ " 0 ;K %+K $$%*K .&" $K *K $ K *F)K# $ K $ K +) K *K )K K %% K* $ K ( , $K /K* K %"/K & ( *K* (%+ K* K & ( *K% K "%, ;K

%, K )K $ K * K ( * )*K *;K % K - $*)K * K"%, K% K )K %$K*%K - ""K $K/%+<K*%K) *+( * K /%+(K $$ (K $ ;K *K- )K +"F)K&( / (K* *K )+)K ( )*F)K"%, K) %+" K $, K/%+(K# $ J) *KA* K - /K /%+K * $!B<K )%K * *K /%+K $K * $!K %+*K - *K )K *(+ <K &+( <K %$ )*<K , (*+%+)<K * K A ";K 5=9B;K *K ( )*F)K "%, K ) %+" K $, K /%+(K %$) $ ;K %" $ K * K #/)* (/K % K * K * K $K K&+( K %$) $ KA2K #;K2=2:B;K +"K&( / K G* *K ( )*K# /K - ""K $K/%+(K (*)K /K * HK

A & ;K 4=28B;K K $$ (K # $K )K * K ( )%$<K * K %$) $ <K* K- "";K $K/%+(K- ""K )K)*(%$ <K /%+F""K K " K*%K %K- *K/%+K!$%-K*%K K( *;K $K%( (K*%K $ ( ) K/%+(K"%, K $ K& )) %$<K/%+K #+)*K&+( /K/%+(K( )%$ $ K +"*/<K %$) $ K $ K - "";K K #%)*K #&%(* $*K '+ " */K % K "%, K )K & * $ K A2K %(;K 24=5B;K %, K )K & * $*>K *K )+ěK ()K"%$ ;K * %+*K& * $ <K/%+(K * K- ""K $%*K -%(!;K * $ K "&)K +)K *%K K "#K - $K ( +#)* $ )K %# K %$*( (/K $ K & %&" K K *K $)*K+);K K "%(/K $K*( +" * %$)KA %#;K 6=4B;K * (*K %+$* $ K *K ""K %/K - $K /%+K K *( +" * %$);

G $ K *%K !$%-K * K "%, K % K ( )*<K - K & )) * K!$%-" <K* *K/ K# *K K K"" K- * K ""K* K +"$ ))K% K % ;K %-K+$*%K #K* *K )K " K*%K %K . $ K +$ $*"/K %, K ""K* *K - K )!K %(K * $!<K %( $ K *%K * K &%- (K * *K -%(! * K $K+)HKA & ;K4=2:<31B; )K- K#%, K $*%K* K( "#K%(K ( $ K% K % F)K "%, J" $ * <K ( * <K &* K $ K *K JK - K -%+" K $ %+$* (K $K $, ) %$K% K % F)K&%- (K $K %+(K " <K * *K )<K )K &( ) $ ;K G *HK )K /%+(K ĴK *+ K *%- ( K % <K $ K G &* HK )K /%+(K Ĵ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ěK ()K% K" ;K )+)K )K* K& * K % K" =KG %+K- "*K) -K# K* K& * K% K" =K $K * /K&( ) $ K )K +""$ ))K% K %/>K *K* /K( *K $ K * ( K ( K &" )+( )K %(K , (#%( HK A )K 27=22B;K %+K $K ( "/K ( $!K (%#K * K , (K % K K "/=KG /K) ""K K +$ $*"/K) * ) K K- * K * K *$ ))K% K* /K %+) >K $ K* %+K) "*K# ! K * #K ( $!K % K * K ( , (K % K * /K &" )+( )HK A )K 47=9B;K K)*( $ * $ K- * K# *K $K* K $$ (K # $K $ K/%+K) ""K( $K" ! K K! $ KA %#;K6=28B;K

)+)K )K %( K %( , (;K /<K # $; IK ""K# K- * K* K & ( *K% K %"/K& )) %$K *%K %K %+(K-%(!KA (!K27=26>K );K215=26<27

#+)*K# ! K K ) %$K*%K" , K /K ) $K* )K / (K( * (K* $K" , $ K /K +"*; 3;K K'+ )* %$K% K) " J , "%&# $*K K - ) K # $K %$ K ) K * *K * K " ( )*K (%%#K $K * K -%(" K )K * K (%%#K %(K ) " J , "%&# $*<K /%+K ( K % $ K *%K ( # $K * K ) # K - /K /%+K ( K $%-K $K * K $ .*K K, K/ ()K . &*K %(K*-%K* $ )<K* K %%!)K /%+K ( K $ K * K & %&" K /%+K ))% * K - * ;KK %-K# $/K %%!)K , K/%+K( K $K * )K#%$* ?K ( K ( K ( K J %%!)K%$K* K $* ($ *<K %$F*K) *K %-$K- * K %%!K ""K /K ĴK $ K - /K ""K/%+(K&( %+)K* # ;K %+K ( K # ! $ K #%$ /K %(K + ! ( ( K * *K- /<K* K%-$ (K% K %%!;K %+K$ K *%K( K $ K!$%-K %-K*%K# ! K/%+(K%-$K #%$ /?K K ( K " , $ K $K * K K - ( K $ %(# * %$K )K $ ( ) $ K *K $K " (# $ K ( * ;K %-K )K /%+(K " , "K % K & ()%$ "K , "%&# $*?K ( K )K K ĴK (K - /K % K % $ K * $ );K ( K - )K K * # K $K * K $! $ K ) *%(K - ( /K $/K *( $) * %$K /%+K - $* K *%K %<K /%+K K *%K %K *%K * K $!<K +*K $%-<K /%+K $K %K K *( $) * %$K %$K /%+(K & %$ K - * %+*K % $ K $*%K * K $! $ K "";K 4 K'+ )* %$K% K K$ $ "K( )&%$) " */ K K , K /%+K . # $ K /%+(K & ()%$ "K K$ $ "K )* * # $*K *%K !K /%+(K $ K%-)K $ K %+* K%-)K %(K " )*K #%$* ?K *K )K K & */K * *K# $/K/%+$ K& %&" K %$F*K , $K , K K +$ * %$ $ K %+$*K $K * K $!<K $ K * *K )K- /K* K( K ( K ĴK $ K( (K $ K * K &%%(K ( K ĴK $ K &%%( (;K , K /%+(K % ) (, K /%+(K )& $ $ K & ĴK ($?K ( K /%+K " , $ K (%#K & / !K *%K & / !?K ( K /%+K )& $ $ K - *K /%+K %$F*K , K *%K +/K - *K /%+K %$F*K $ K $K %* (K *%K #&( ))K& %&" K- %K %$F*K ( ?K , K/%+K

) $ K K + *K %(K* )K#%$* ?K K/%+K !$%-K * K ěK ( $ K *- $K /%+(K - $*)K $ K/%+(K$ )?K *K )K/%+(K $, )*# $*K &" $?K ( K/%+K $, )* $ K $K/%+(K K$ $ "K + * %$?K K/%+K , K&" $)K% K ( * $ K #+"* &" K)*( #)K% K $ %# K $K3127? 5 K '+ )* %$K % K )& ( *+ " */?K %+(K )& ( *+ "K " K )K * K %+$ * %$K * *K +& %" )K /%+(K ( (<K # $ )*(/<K # "/<K $ K )* $/;K $K " )*K K /%+K % ) (, K /%+(K'+ *K* # ?K $K" )*K K/%+K)*+ /K /%+(K " ?K $K" )*K K/%+K , $ " 0 K ( )*K- * K/%+(K" )*/" ?K , K/%+K $K &" / $ K- * K) $?K K/%+K)* ""K (K % F)K ,% <K K/%+K)*+ /K/%+(K " K "/?K ( K /%+K ( K * $ K ( )*K $K /%+(K -%(!K &" K %(K) %%"?K ( K/%+K&( & ( $ K %(K( &*+( ?K ( K/%+K %""%- $ K& K- * K ""K# $K /K ) %- $ K"%, K*%K& %&" ?K 6 K'+ )* %$K% K $ K+ $ K , K /%+K ! K /%+(K ( " K % K ( $ ) &?K ( K * /K $ K+ $ $ K /%+K &%) * , "/K %(K $ * , "/?K K K ( $ K * *K ) $ )K&%($% ( & /K $*%K/%+(K& %$ K )K$%*K %$ K*%K! &<K +) K* K" -K% K ))% * %$K ) /)K* *K/%+K- ""K %# K" ! K* K& %&" K /%+K )& $ K /%+(K * # K - * <K - %K ( K * K & %&" K $ K+ $ $ K /%+?K K $K &( *K /%+(K +*+( K - $K K ) K /%+(K %#& $/K % K ( $ );K )K /%+(K )&%+) K *%K <K $* ( )* K %$"/K $K/%+(K % /KC&( J# ( * "K) .DK#%( K * $K/%+(K)%+"<K $ K)& ( *<K* $K K%(K) K )K $%*K-%(* /K*%K! &;K 7 K'+ )* %$K% K( K * %$)K K # )* ! )K K /%+K # ! K $K 3126K * *K ( K *%%K " ( $ K * *K /%+K ( +) K *%K # *K%(K %$ (%$*;K %+K $F*K $ K- *K /%+K*%" ( * ; K) K ( *$ ))K $K/%+;

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! 3! !3& "3 !3 &3& 3 ,3 # 3!$ 3 ,3 3 !3 3! 3 3 3 ! &3 &3 &3 $ ! 3 # 3 3" 3! 3 +3 "3 " 3 !3 $ ! 3 2! ! 3 3 3 3! 3 3 3! 3 !3 $ 3 3 & ",3 &3 ! 3 # 3 ! 3 ! !3 ! 3 ! 3 3 !3 $ !3 & "3 +3 3 & "3 &3 !3 3 # 3 ! !,3 ! " 3 & "3 ! 3 3 3 ! ,3 ! 3 3 3 %" 3 ! &+3 3 & "3 3 !3 ! ! ,3 ! 3 $ ! 3 "! 3 3 /!3 " 3! + "3 # 3 &3$ ! ,3 3 !3 $ ! $ 3 &3 " 3 3 3 ! 3 !3 ,3 3 3 3 " 3 "!3 & " 3 ! 3 3 & " 3 ! 3 3 ! 3 & " 3 "!" 3 ! +3 "3 3 3 & " 3 *) 3 3 3 +3 # 3 & " 3 ! 3 "!3 3 !3 3 # 3& " 3

Dr. Olutunde John Olarinde Veterinary Surgeon/Clinician Tel: 08107801331 E-mail: straitgate_cpts@yahoo.co.uk

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MO FARAH

I’m putting my body through hell to prepare for Rio

ADEJUBE:

Keshi’s ‘ghost’ haunts Oliseh Pg 42

Newswatch Times

SPORTS

NEWSWATCH TIMES SUNDAY, JANUARY 31, 2016

Babs Oyetoro

F

ormer Nigeria F o o t b a l l Federation board member, Elder Dickson Adejube, has taken a swipe at the Super Eagles chief coach, Continued on page 43

PROBE NFF! ...Etim Esin asks

FG to investigate ÀQDQFLDO GHDOLQJV DW *ODVV +RXVH

Gbolahan Dada

F

ollowing persistent cry of inadequate funding of all the national teams in the country, former international, Etim John Esin, has asked the Federal Government to probe alleged ęnancial irregularities at the Glass House. The nation’s football has been suěering from Continued from page 42

42

NEWSWATCH TIMES SUNDAY, JANUARY 31, 2016

MO FARAH

I’m putting my body through hell to prepare for Rio

SUNDAY INTERVIEW

I

n an exclusive interview, one of the greatest distance runners of all time talks about high-altitude training, being welcomed as an immigrant in Britain and his plans to party with Usain Bolt in Rio. Mo Farah has confounded expectations throughout his life. When he arrived in Britain as an immigrant from war-torn Somalia, eight years old and speaking hardly any English, few could have imagined he would become a national hero. When he failed to qualify for the śŖŖŖm ęnal at the Beijing 2008 Olympic Games, few could have imagined he would go on to become one of the greatest distance runners of all time. Two Olympic gold medals, ęve world championship titles and a wax model at London’s Madame Tussauds later, Farah’s place among the elite of world sport is cemented. At last year’s world championships in Beijing, Farah became the ęrst athlete to do the distance ‘triple-double’ – winning the 5000m and 10,000m crowns at the Olympic Games and two world championships in succession. Now Farah is determined to reach the stratosphere at the Rio 2016 Olympic Games, where he plans to defend both his titles. “This is what I’m training for every day,” he said. And if he

achieves the ‘quadruple-double’ and his good friend Usain Bolt delivers the ‘triple-triple’ (three consecutive 100m, 200m and 4x100m golds) in Brazil, it seems there will be a major celebration. A devout Muslim, Farah has become a role model for immigrants in Britain. But his inspirational eěect is universal and he is a proud Briton, a proud Londoner and a proud Arsenal fan. Read the full interview, which was conducted by email, below: How are your preparations for Rio 2016 going? I’m currently in Ethiopia for an altitude training camp (see tweet below). Running at high altitude means the body can carry more oxygen and it’s an important part of endurance training. I will stay here until the Glasgow Indoor Grand Prix on 20 February, after that I return to the US and will continue to prepare for Rio over the summer. What will be the main challenges to overcome and pitfalls to avoid on the road to Rio? The main thing for me is to stay injury free so that I am able to follow my usual training programme – straying from my schedule complicates things and I’ve got to be focused on Rio every day. A big personal challenge is spending so much time away from my wife a n d kids, i t

doesn’t get any easier over the years, in fact, it gets harder! How does it feel to be the only athlete to have completed the distance ‘triple-double’? I’m very happy with my gold medals from London, Moscow and Beijing. None of them were easy and being able to win and then defend my titles meant a lot to me. Any international win for an athlete is something to be proud of, but it feels special to make history on the world stage. I’m puĴing my body through hell every day to make sure I do myself proud in Rio. At the start of your career, did you believe you could be so successful? It took me a very long time and a lot of hard work to reach this level. You have to put in the time – month after month, year after year. When I ęrst started out I had no idea of what was to come, I was still dreaming of becoming a footballer! Athletics has changed my life and shaped my world, it’s given me great discipline over the mind and body. It’s also given me the opportunity to provide for my family and to make sure my children have all the chances I may not have had when I was growing up. When you arrived in Britain, aged eight and speaking very liĴle English, could you ever have imagined how your life and career would develop? No, at that time I didn’t even

know what competitive running was! When I was young I absolutely loved football and wanted to play for Arsenal. I had never really considered running until my PE teacher, Alan Watkinson, recognised my talent for athletics. Thanks to him and his support, I was able to win quite a few English Schools titles whilst I was still at school. It was only when I won the European Junior 5000m Championships in 2001 that I thought I could do this professionally. How did your experience as an immigrant – and having come from a war-torn country – inĚuence your development as a person and an athlete? I don’t really remember too much about Somalia as I was so young. But me and my family felt so at home in the UK because the people there are so welcoming, it is a truly multicultural society. It’s where I grew up, it’s where I went to school. I am proud of my dual heritage and proud to be British – when I run, I run for Great Britain. 2015 must also have been a diĜcult year, with the controversy surrounding your coach (Alberto Salazar, who strenuously denied doping allegations made against him) – how did this aěect you? It’s been frustrating to be pulled into it and it isn’t something I want to go through again but I just put my head down and got on with my training and two gold medals in Beijing was the result. So really last year was a great year for me. Looking back on the London 2012 Games now, what are your clearest memories and strongest emotions? I remember the roar of the crowd when I was on the last lap, it was a great feeling to have 80,000 people pushing me to win, shouting my

name. Can you do a ‘quadruple-double’ by defending your titles in Rio? Who will be your main challengers? This is what I’m training for every day. I expect my main challengers to be the same as the last few years, mostly athletes from Kenya and Ethiopia. There are always incredibly talented runners in both the 5k and 10k. What do you think Rio will be like as an Olympic host city? I’ve never been to Rio but I can’t wait, everyone has told me how beautiful the beaches are and how the people are so friendly. Brazil is famous for its football so hopefully I’ll get a chance to take a break from running and improve my dribbling! Even though I’ll be thousands of miles away from London, I know I will still have that support from home, and that keeps me going. How did your friendship with Usain Bolt develop and will you celebrate together if you both achieve your goals in Rio? Usain and I have grown up together in athletics, under the spotlight, and he understands what it takes. We have known each other for over 10 years now. I wish him all the best for Rio, if we both win I’m sure we’ll throw a huge party! Will you be doing your ‘Mobot’ celebration (above) if you win in Rio? Yes, it will be making an appearance… What will you do after the Rio Games? In 2017 we have the world championships in London – that will probably be my next target. I’m undecided, but maybe after that I will move to the roads and marathon. I will have to wait and see how the rest of the year plays out.

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SPORTS

(WLP (VLQ DVNV )* WR LQYHVWLJDWH ÀQDQFLDO GHDOLQJV DW *ODVV +RXVH Continued from page 41

poor funding since Amaju Pinnick-led board took over the mantle of leadership in the NFF, as all the national teams struggled to make impact at the international competitions without enough motivation. The latest episode was the Super Eagles poor and early ouster from the ongoing CHAN

tournament in Rwanda. According to Esim, Nigerians have had enough of this mess and NFF needs proper explanation and not just excuses to save their ‘ugly’ faces from all the crisis that is gradually aěecting the Ěow of football development in the country. “We have heard many stories on the nation’s football,

especially what happened in Rwanda and South Africa. We heard that the team managed themselves to play in the ęrst round before they crashed out of the tournament. There was inadequate funding. No camp allowances. The head coach, Sunday Oliseh, had to cough out some money to keep the boys in shape. There was no motivation. It’s a pity our football has gone so

CHAN exit: Hold Oliseh responsible – Ikhana ...Eagles technically deficient

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Victor Enyinnaya

eteran former technical adviser of Nigeria Professional League Champions, Coach Kadiri Ikhana, has blamed the disgraceful showing of Nigeria at the ongoing CHAN competition on the door steps of the Super Eagles handler, Sunday Oliseh, who he described as being technically deęcient. He however called for urgent measures to ęnd the antidote to the steady dwindling fortunes of the team before the epic 2017 AFCON qualięer against the dreaded Pharaohs of Egypt in March. The ex-international turned coach said the team played without specięc mission and blamed it on the level of technical and tactical quality of the coaches especially Oliseh who is calling the shot. According to him, even the game against Niger which he won convincingly was not diěerent the other two only that he met a weaker side, hence the result which may have blindfolded him to put up an

equally shoddy performance against Tunisia. ‘’The truth about the whole scenario that played itself out in Rwanda 2016 CHAN tournament was the team was ill prepared. You cannot give what you don’t have and it is what is clearly manifesting in the Super Eagles team since Oliseh took over. The team has overwhelmed him. He cannot go or perform beĴer than what he has displayed so far. I may not be wrong to say that he has done his best. The fate of the squad

Ikhana

declines in each game. He has lost grip of the side long ago. He could not handle the very ęrst major assignment in the Super Eagles. It remains worrisome,’’ he rues. Ikhana insists that the two weeks the team had in South Africa for the preparations for the CHAN football summit in Kigali, Rwanda could easily be said to be a waste of scare resources as there was no depth technical input on the lads. They played ordinarily and aimlessly too. For instance, in their last group match, Guinea was technically and tactically superior. He stressed that the purpose of NFF leadership seĴing up camp in the Rainbow country for the Eagles was chieĚy for the coaches led by Oliseh to put their heads together, rub minds and formulate water tight strategies the boys would master inside out before the commencement of the games, but the reverse was the case hence the below standard the team displayed which guaranteed the early exit. It could be safe to say that the Eagles learnt nothing and forgot nothing. The country being booted out at the group stage no doubt is the biĴer pill forced into our throats, he explains.

low to the stage that we could no longer fund the national teams properly,” angry Esim said. The NFF had abolished match bonuses for the country’s developmental teams led by Golden Eaglets. The other developmental teams are Under-17 female team, the Flamingoes, Under-13 and Under-15 national teams. The players of these national teams will no longer be entitled to match bonus because of lack of funds caused by the economic downturn in the country. Pinnick had admiĴed the NFF’s poor ęnances on a television programme saying, “Funding has been very, very poor for the federation.” The former Under-20 player is worried over the activities of Nigerian football without money and he is calling on the Federal Government to investigate the running of the country’s football at the top level. “If the world could wage war against corruption in FIFA

and set up a team to probe Joseph BlaĴer and his team, so Nigerian football should not be an exception. There’s corruption everywhere, even at the government circles. There should be a thorough investigation into activities of the NFF. I know that something is ęshing somewhere. Enough is enough. We need to nip it in the bud for our football to develop,” he said. Speaking about Nigeria’s chances of qualifying for the AFCON 2017 and the 2018 World Cup, the player popularly called ‘Maradona’ urged Nigeria to continue to keep their faith in Oliseh, saying that he must have learnt some lessons from the CHAN failure. “Nigerians should not use the CHAN debacle to judge Oliseh. They should still give him more time but he must stop experimenting with the team. By now, Oliseh should have known his left from the right. He should be a goal geĴer now!”

Keshi’s ‘ghost’ haunts Oliseh Continued from page 41

Sunday Oliseh, over the crash of the home-based Eagles from the ongoing African Nations Championship, (CHAN), held in Rwanda, saying nemesis has caught up with him now that he is in charge of the senior national team. Adejube recalled that Oliseh was fond of criticising his colleague, Stephen Keshi when he was in charge of the national team forgeĴing that a day will come when he would be in charge of the team too. The sports administrator noted that what Oliseh was doing then was unprofessional adding that there were beĴer ways through which Oliseh could channel his observations to Keshi without going through the media. “You can’t do this to your senior colleague and expect things to go right while you are in the saddle. This is where Oliseh got it wrong

in the ęrst place. Now Nemesis has caught up with him. He now knows that uneasy lies the head of him that wears the crown. He needs to apologise to Keshi”. He continued: “although I did not subscribe to players not being paid their dues, most especially when they are in a competition. This kind of treatment has a way of killing the morale of players. The NFF should ensure that the team, in the future has all their allowances intact before a competition. This will go a long way to boost the morale of the players. He stresses further that it was the NFF that employed Oliseh in the ęrst place and as such they should decide what to do with him. Meanwhile, Oliseh has blamed the team’s lose to lack of motivation from the football authorities saying he was given money to the players from his pocket.

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SPORTS/GOLF LPGA season opens in Bahamas without top-rated Ko

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he 2016 LPGA season opened at the Bahamas LPGA Classic with topranked New Zealand teen Lydia Ko absent and players mindful about women’s golf returning to the Olympics. Second-ranked Park In-Bee of South Korea, third-ranked American Stacy Lewis and her fourth-ranked compatriot Lexi Thompson will be among the favorites at the par-72 Ocean Club layout on Paradise Island. Ko, an 18-year-old Kiwi of Korean heritage, will skip the Caribbean start to avoid playing four weeks in a row, opening her season next week in Florida before defending her Women’s Australian Open and New Zealand Women’s Open titles next month. “It’s just part of a scheduling strategy,” Ko’s coach, David LeadbeĴer, told the Golf Channel. “She just wants another week to get sharp.” Scheduling becomes more critical this year as golf returns to the Olympics, players looking to the world rankings of July 11 that will determine the 60-player Olympic lineups. The top 15 qualify with a limit of four per nation, with the rest of the ęeld being the top-rated golfers from each nation with a maximum of two per country. This week, South Korea has four players in the top eight, six of the top 10 and eight of the top 15, making that the toughest lineup to crack. Lydia Ko, an 18-year-old Kiwi of Korean heritage, will skip the Caribbean LPGA start to avoid playin … Thompson, Lewis and Cristie Kerr would represent the United States but BriĴany Lincicome, 16th this week, would just miss out. In all, 26 of the top 35 ranked women are US or South Korean golfers. A record $63 million in prize money will be at stake in an LPGA season spanning 34 events across 14 nations. Newcomers will be trying to make their mark quickly this season, just as seventhranked defending champion Kim Sei-Young of South Korea did last year when she won three events to ęnish fourth on the money list. Canada’s Brooke Henderson begins her ęrst full season this week after matching Ko and Thompson last year by winning an LPGA event before her 18th birthday. Henderson, 18, won the Portland Classic last August by a season-high eight strokes last year at age 17 and has jumped from 221st in the rankings a year ago to 18th now. Asked to give herself a grade on how her 2015 season went, Henderson said she was extremely pleased with her on-course performance. “Last year was kind of an A-plus year,” Henderson said. “I did a lot of really good things and I’m hoping to just continue those on this year.”

Park In-Bee

GolfWatch 08023113110

gboladada@yahoo.com

Ikoyi Club ready for DOAM Charity golf contest

Ikoyi Club

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koyi Club golf section has almost concluded plans to stage 6th edition of the Daniel Ogechi Akuhobi Memorial (DOAM) Foundation, scheduled for February 6 in Lagos. The organisers conęrmed that over 120 golfers had qualięed to compete in the competition. According to the coordinating organising commiĴee, Pat Bassey, the qualięed players were drawn from the 182-strong ęeld of players that turned up for the qualięers on January 16, 2016. They will now be drawn alongside guest players to complete the lineup for the one-day Charity event. “The facility will be put under pressure with the expected large turn-out and we are working with the Club management to make sure that the course is put in perfect shape. As a foundation, we are ready. Bassey also underscored the Foundation’s intention to impact more than the 9,000 beneęciaries it engaged in 2015 with the proceeds of this year’s fund raising. “We were able to make scholarship award to ęve indigent orphans and vulnerable children in Lagos state, built a sick bay, which caters for 5,000 kids, in partnership with Diamond Bank for Owerri Township Schools (Primary and Secondary). We also enabled the Ogun State Ambulance Services to re-kit its Ěeet with funds we generated in 2015”. He added, “we were able to touch more than 9, 000 lives and, our goal from the outset this year is to surpass that. We have enjoyed tremendous support from golfers and other individuals, as well as from corporate organizations, and this is what we are again banking on at DOAM Foundation this year.” The DOAM Charity Golf Tournament is an annual one-day fund raising event that has been staged since 2011 at the Golf Section of Ikoyi Club 1938. This year’s event will be concluded with presentation of trophies and prizes at a cocktail party in the evening of the same day. The Daniel Ogechi Akujobi Memorial (DOAM) Foundation is a charitable, humanitarian, and non-governmental organisation established in 2006, in memory of Master Daniel Ogechi Akujobi (1992-

2005) who died from injuries sustained in a fatal highway accident on his way back to school along the Lagos-Ibadan expressway, Ogun State, Nigeria. He was the only son of his parents. DOAM Foundation is dedicated to the enhancement of the education and health of less-privileged children and youths in the society. Since its establishment, the Foundation has oěered scholarships to a number of vulnerable but intelligent children in primary, secondary and tertiary institutions. It has also undertaken various life-improving programs including de-worming of children, mentorship, educational, nutritional and psycho-social support to children and youths in the society.

World Golf Tour has a new owner

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he operator of driving ranges and entertainment centers has added World Golf Tour, the top online golf gaming in the world with 14 million players on web and mobile. The move brings Topgolf into the $25 million online golf market, and it will also expose WGT players to its entertainment centers. Topgolf’s game is “a driving range on steroids,” as a company spokesperson told GamesBeat in a phone interview, turning the targets into what’s essentially a dartboard. This will be playable in World Golf Tour, and it pairs well with the online and mobile game’s bite-size golf challenges and larger competitions. World Golf Tour competes with EA’s Tiger Woods PGA Tour Online. Bandai Namco has entered market with Winning PuĴ from Webzen OnNet, which debuted with its open beta two weeks ago. Winning PuĴ features more detailed courses, role-playing game mechanics ȯ and even alien worlds to golf on. The deal took root in midsummer, and Topgolf chief creative director Chad Nelson — who worked for World Golf Tour before the acquisition — says in a phone interview how both companies and their products complement each other — and bringing them together leads to beĴer player engagement. “For Topgolf, once a guest leaves, how do they continue to be engaged? And in our case, all we oěer is virtual, so how do we tie it into real world?” Anderson said. “So, we looked at that. They have these facilities, virtual community, and location; players go meet and socialize and enjoy the sport they are virtually playing — the synergies are so strong, doing this together.”

McIlroy urges golf clubs to embrace Irish Open

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urope’s Race to Dubai Champion Rory McIlroy has issued a ‘call to action’ to golf clubs throughout Ireland, urging them to embrace this year’s Dubai Duty Free Irish Open hosted by the Rory Foundation and help make it one of ‘the best ever’. McIlroy, the best golfer this country has ever produced, is ęercely proud of where he comes from and has been a great ambassador for Irish golf ever since he hit the big time, promoting Ireland’s abundance of amazing golf courses all over the world. Now he is determined to maintain the Irish Open’s position as one of the premier events in the world of golf and he is personally calling on golf clubs all over the country to help him do this. In a leĴer to every golf club in Northern Ireland and the Republic of Ireland, McIlroy has not only requested that clubs come together to support this year’s Dubai Duty Free Irish Open, which takes place at The K Club in County Kildare from May 19-22, but he has also produced his own personal ‘ęve point plan’ to help clubs and their members to get involved. One highlight of his plan is the Dubai Duty Free Irish Open Club Challenge, a nationwide golf tournament which gives

McIlroy

one lucky club team an opportunity to play alongside a top professional in the Dubai Duty Free Irish Open Pro–Am. McIlroy is asking clubs all over Ireland to use existing club competitions to ęnd a Men’s and Ladies’ champion who will then go on to represent their club in regional qualięers with a national ęnal to be held at The K Club. The winning club will then receive a team invitation to play in the Pro-Am, courtesy of title sponsor Dubai Duty Free which has donated one of its much sought after team spots exclusively for this initiative.

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NEWSWATCH TIMES SUNDAY, JANUARY 31, 2016

POLO/SPORTS FIP, Ogboro lauds NPF, Niger Delta Polo festival

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David Zippa of Port Harcourt Polo Club jubilate after receiving his trophy from the Emir of Katsina, HRH, Alhaji Abdulmumuni Kabir, during the Presentation Ceremony of the recently concluded Niger Delta Polo Festival in Port Harcourt.

Lagos brace up for 2016 MTN International Polo tourney Ekpenyong Ekpenyong

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he management of the foremost Lagos Polo Club has promised that this year’s edition of the prestigious Lagos MTN International Polo Tournament will be the most competitive in years, as the best players in the game within and outside the country have promised to grace the competition. The annual tournament which was described by polo enthusiasts as “the biggest event on the calendar of activities for the year,” is scheduled to gallop oě early February and throb for ten solid day of the best of high-goal polo that will put the cosmopolitan city of Lagos on the global map. The Ibadan polo captain Ayo Olasoju , in a media statement made available to media, stated that arrangements are in top gear to ensure that a grand event that will linger for long in the memories of all participants , invited guests and enthusiasts of the king of games. “We would have a team featuring players as young as 13 years in this edition, as a result of the club’s many eěorts to increase the awareness for the game among younger people and it’s going to be a full

house this year, as teams from major polo centers across the country have conęrmed their participation. According to Lagos polo chieftains, Muyiwa Shonubi and Bode Makanjuela, hand full baĴle ready teams are coming from Kano for the weeklong polo festival. As at the last count, four heavily fortięed teams from Ibadan are invading the former capital city for the event, just as host Lagos, is throwing in as many as ten teams into the fray to vie for all the major prizes at stake. Ayo who would be leading his team’s quest for the second biggest prize of the event, the legendary Lagos Open Cup, thank all the major sponsors traditional and new ones, as well partners for their supports over the years. He stated that four major prizes and a many gliĴering subsidiary cups will be on oěer during the international ęesta that has for the past ęve years been decided over ten days split into two big stages. The event’s most wanted and one of Nigeria’s most revered polo titles is the Majekodunmi Cup that has been competed for annually for over forty years now. Other major prize at stake would include,

the gliĴering Lagos Open Cup that usually aĴracts over ten medium-goal teams every year. Lagos Low Cup and the Lagos Dansa Cup are two major prizes that intermediate and low-goal teams in their droves as they jostle for honours at the legendary Ribadu Road polo ground venue of the grand festival. Other selected prizes like the Independence Cup which is the oldest polo cup in Nigeria, the Italian Ambassador’s Cup and MTN Cup, as well as awards are also included in the package of trophies to be won at the 2016 MTN polo ęesta in Lagos. Shonubi who is the Vice President of Lagos Polo Club also disclosed that the host club is also puĴing together a number of social events to give the polo buěs plenty to cheer for and enjoy throughout the glamorous events. “As is traditional, Lagos has always been the home of polo that oěers an unforgeĴable experience both for the players and spectators alike, and we intend to make this one very special particularly for our esteem guests, visiting players and the teeming Lagos polo enthusiasts,” he enthused.

he impressive transformation of Nigerian polo in the last four years and the massive polo infrastructural development in the Niger Delta region has aĴracted special commendation from the world polo governing authority, the Federation of International Polo (FIP). FIP that recently rated Nigeria as one of the most popular polo playing nations, where the game is played all year round, noted that the popularity of the king of games has witness tremendous leap since Nigeria return to the global limelight at the world Cup playoěs in Malaysia. In this latest accolade, FIP congratulated the Francis Ogboro led Nigerian Polo Federation (NPF) for opening new frontiers to the noble game of polo, which trigger oě the establishment of new polo clubs across the country, listing Yenagoa Polo Club, and the newly promoted Lokoja and Makurdi polo clubs as some of the achievements recorded in the last four year. FIP which congratulated the Nigeria Polo Federation (NPF) on the success of the recently concluded Niger Delta Polo Festival in Port Harcourt singled out Port Harcourt Polo Club whose massive infrastructural development, made it as one of the fastest growing polo clubs in the world. The message of solidarity was contained via an in email sent by FIP President, Dr. Ricard Caleel picked Port Harcourt as one of the 100 most beautiful polo clubs around the world and the most improved in Africa, was received by the Francis Ogboro during the recently concluded Niger Delta Polo Tournament in the Garden City. NPF President, Francis Ogboro, expressed delight with the quality of play and ponies used at the tournament. He said all other national events this year will draw a cue from the Port Harcourt tournament. Nigerian Polo Federation (NPF) President, Francis Ogboro who congratulated the winners and all participating players, Urge corporate sponsors to continue to support endeavours that aim to promote a positive lifestyles of the millions of Nigerian youths across the country. “On behalf of NPF and Trustees of Port Harcourt Polo Club, I say thank you to our sponsors and the teeming polo enthusiasts for being part of the exciting Niger Delta Polo festival here in Rivers State,” Ogboro stated. The grandiose polo festival which oěers a whole week of passionate and fast paced display of skills and horsemanship showcased by the ambitious, high, medium and low-goal teams left in its roaring trail many memorable legacies that would continue to captivate polo buěs across the world for a long time. As a Grade A NPF event, the biggest aĴraction of the Niger Delta Festival lies in its regional appeal, which for years has been the pride of Edo, Delta, Bayelsa, Akwa Ibom, Cross Rivers and host Rivers states. The fact that polo enthusiasts from Anambra, Enugu, Ebonyi and neighbouring Imo and Abia states aĴend this festival annually in their thousands; aĴest to the immense tourism and social values of the exciting game of polo in the Niger Delta. President of Port Harcourt Polo Club, Ibiwari Pepple and Polo Captain, Michael Ogolo both hailed the polo carnival as one of the most successful in years. They thank the Emir of Katsina for honouring their invitation and for making the annual event such a memorable festival. “In lending his royal supports to the Niger Delta Polo Tournament in Port Harcourt, the Life Chairman of Nigerian polo is pushing for a new height in the promotion of polo and tourism in the region and the country as large, “Ogolo who won the Most Improved Player of the Tournament award noted.

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SPORTS UPDATE

Akwa Utd offer too good to reject – Ekpai

Egypt to parade killer squad against Nigeria E

gypt coach, Hector Cuper, says his team beneęĴed greatly from the recent camp in Aswan and insists he has already seĴled on the lineup for the anticipated clash against Nigeria. Egypt lost 1-0 to Jordan Wednesday before beating Libya 2-0 Friday in the second friendly match of the camp amid preparations for the crucial 2017 Cup of Nations’ qualięers against Nigeria in March. “We gained a lot from the two friendly matches in Aswan as we examined both the old and new players,” Cuper was quoted as saying by the Egyptian

CHAN Eagles skipper denies Enyimba, set for Turkey

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HAN Eagles skipper ,Chima Akas, has denied claims by Nigeria champions Enyimba he has signed for them ahead of the new season, while disclosing further he is close to ęnalising a move to Turkey. Enyimba have announced they have signed the leftback. But Akas himself said this is not true. “Yes, I discussed on phone with a top Enyimba oĜcial, who I then directed to my manager. But I have not signed any document with Enyimba,” said the player. “I was therefore surprised to read that I have signed for Enyimba.” Akas has also negotiated personal terms with another premier league club, Sunshine Stars, but he has also not formally commiĴed to the Akure club. “My target is to play in Turkey and I hope to be able to do so shortly,” he said. Last season, he played for Sharks. He is a player of Active Academy of Ibadan, who have an agreement with Shooting Stars.

Akas

Football Association (EFA) oĜcial website late Friday. “We called 32 players for the Aswan camp. Some proved themselves while others were below the level. We will call a fewer number of players in the coming camp ahead of the Nigeria match. “I’d like to thank the football associations of both Jordan and Libya for accepting to face us outside FIFA dates. “I have already seĴled on the line-up that will appear against Nigeria,” the former Valencia and Inter Milan boss concluded.

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The defeat to Jordan is Egypt’s second since Argentinean boss Cuper took over in March 2015 after the 1-0 loss they suěered to Chad in the ęrst leg of a World Cup qualięers last November. Egypt recovered in the second leg to crush their modest opponents 4-0 and reach the qualifying group phase. They are on top of Group G of the Nations Cup qualięers with maximum six points from wins over Tanzania and Chad. Nigeria are second on four points. Egypt are bidding to reach the Nations Cup for the ęrst time since winning the last of their record seven titles in 2010.

Emenike passes West Ham medical test

n his second spell with Federation Cup champions, Akwa United, Ubong Ekpai, understands that his return to the club is hinged on improved performance and helping the team’s quest for silverware in the local scene and on the continent. Ekpai’s reunion with The Promise Keepers had been speculated months before the deal was sealed, but the Ěying winger shared his own side of the story with npĚ.ng on arrival at the Ibom International Airport with Akwa United FC from the ęrst round of the Super Four pre-season tournament. The forward said the decision to team up with the Uyo side was borne out of his love and passion for the club. “I was really convinced on the deal. I always had it in mind that my home team will come for me and I found it hard to reject the oěer to once again play for a club that gave me the platform to become a professional. I had options and tempting oěers from other clubs, but the only deal that would have seen me ditch Akwa United would have been an oěer from a foreign club. “I joined Akwa United to win trophies and I am certain with the quality of players in the team, we can challenge for the league title and the CAF Confederation Cup. This is the position of everyone in the squad and we are working towards achieving this at all costs,” he declared. Ekpai joined the Uyo-based side from four-time champions, Kano Pillars, and has immediately seĴled in with life in his new abode. He is believed to be one of the key ęgures that will lead Akwa United’s quest for their ęrst league title and a shot in the continent. Akwa United will play Vita Club Mokanda of Congo, in the ęrst leg of the CAF Confederation Cup qualifying round on February 14, and travel to Akure to face Sunshine Stars in the domestic league opener a week later.

...Club agrees on €1m loan deal West Ham are puĴing the ęnishing touches on a deal for Emmanuel Emenike before announcing his arrival from Fenerbahce, according to reports. Emenike is set to join the Hammers on loan for the second half of the season as Slaven Bilic seeks further aĴacking options with his striking department hit by injury. Both Andy Carroll and Diafra Sakho are sidelined and, though they are restricted by a wage bill which is at capacity, the departure of Mauro Zarate has freed space for West Ham to add to the signing of Sam Byram earlier this month. The deal is expected to be an initial sixmonth loan spell with a view to purchase for around ǡ7million and reports overnight suggest the Hammers are closing in on their man. Despite the fact he is currently on loan with Al Ain in the Middle East, the former Nigerian forward looks set for Upton Park now a loan fee has been agreed. Hammers boss Slaven Bilic has struggled for options in the frontline due to a spate of injuries to the likes of Andy Carroll, Enner Valencia and Diafra Sakho. Having managed Besiktas for a number of years, Bilic will be well aware of the Nigerian’s talents due to his exploits in Turkey. ‘We’re about to loan [Emenike] to West Ham United’, revealed Fenerbahce chairman Aziz Yildrim.

Ekpai

Milla: Chikatara fantastic striker

C

Emenike ‘They will give us ǧ1m for this agreement and they will have the option to purchase him for ǧ11m. But the deal hasn’t been completed yet.’ Emenike made 37 appearances for Nigeria before announcing his retirement from international football in October 2015, scoring 9 times.

ameroonian legend, Roger Milla, has heaped plaudits on home-based Super Eagles forward, Chisom Chikatara, for his impressive showing at the African Nations Championship in Rwanda. The former Indomitable Lions forward also believes the Abia Warriors striker has what it takes to be one of the best players in the continent. “The Nigeria number 13 is a fantastic striker,” he told Completesportsnigeria. com. “I have been impressed with his performance in the competition and I believe he will be great star in future.” Chikatara is the top scorer in the competition with four goals. He scored a hat-trick in Nigeria’s ęrst game in the competition against Niger and scored his country’s only goal in Friday’s 1-1 draw against Tunisia.

47

NEWSWATCH TIMES SUNDAY, JANUARY 31, 2016

SPORTS UPDATE

Serena: Don’t blame me, I’m not a robot Serena

S

erena Williams showed pure class after losing to Angelique Kerber in Saturday night’s ęnal. She smiled for the cameras. She hugged Kerber. She talked about being happy for the new champion. It was an unexpected loss, but these things happen. In her news conference, she asked that everyone stop assuming she’s perfect. “I think I did the best I could today. Would I give my performance an A? No. But this is all I could produce today,” the 21-time

Grand Slam champion said to the media. “Every time I walk in this room I’m expected to win. I’m not a robot. I do the best that I can. I try to win every point but realistically I can’t. Maybe someone else can.” If there is any silver lining to this loss for Williams, perhaps it’s that this year she’ll won’t have to face the constant buzz that comes with the potential of winning a calendar year Grand Slam.

CSKA Moscow reject Leicester’s new bid, Musa

T

he Russian champions, CSKA, have rejected the English Premier League leader’s improved ǡ18.7m bid for the Nigerian skipper, Ahmed Musa. Leicester FC have had a new bid of $26.5m (ǡ18.7) which was an improvement on the original oěer of $21.6m (ǡ15.1m) turned down by CSKA Moscow for Ahmed Musa. The Russian club are believed to be holding out for nothing less than ǡ20m for their prized asset. The Nigeria captain has also aĴracted the aĴention of other top Premier League teams and has a $32.5m (ǡ22.8m) buyout clause in his contract. His current deal with CSKA Moscow runs until 2019.

Musa, who made his international debut against Madagascar in September 2010, is only just 23 but has already scored twice at the World Cup. Ahmed Musa had a fantastic outing at the 2014 World Cup in Brazil. He scored Nigeria’s fastest-ever goal at a World Cup - neĴing after four minutes before becoming their ęrst player to score twice in one game at the tournament. Contrary to reports circulating late on Friday however, CSKA Moscow have not received an oěer from Man Utd for the Nigeria international. Leicester may however have moved quickly to Plan B as the Foxes already have a bid for Chelsea’s Loic Remy accepted.

CHAN 2016: DR Congo breaks Rwanda’s heart

D

R Congo needed extra-time to overcome hosts Rwanda 2-1 in the quarter-ęnals of the African Nations Championship

(CHAN). Doxa Gikanji gave DR Congo the lead after just 10 minutes of the game at a packed Amohoro stadium in Kigali. Rwanda equalised 12 minutes after halftime with a goal from Ernest Sugira. Padou Bompunga found the winner in the second period of extra-time and it means DR Congo will face either Zambia or Guinea in Wednesday’s semi-ęnal. DR Congo, who won the inaugural CHAN title in 2009, took the lead when Rwanda failed to clear the ball properly and fell to Gikanji outside the area whose ęerce shot left the Rwanda keeper Eric Ndayishimiye rooted to the spot. Nine minutes later, with the Leopards dominating, Jonathan Bolingi’s shot hit the post. Rwanda’s second-half equaliser from Sugira was his third of the tournament. He had the chance for second later in the

English FA Cup results

Colchester Arsenal Villa Bolton Bury Palace Forest Oxford

1-4 2-1 0-4 1-2 1-3 1-0 0-1 0-3

Hotspur Burnley Man City Leeds Hull Stoke Watford Blackburn

Agbonlahor quits EPL for Turkey

A

ston Villa striker, Gabriel Agbonlahor, is poised to join Turkish club, Kayserispor. Both teams have opened talk over the move for the 29-year-old striker. Meanwhile, Villa manager Remi Grade has stated that he want the experienced Nigerianborn striker to remain with the team beyond the winter transfer window.

Arsenal complete signing of Nwakali,Chukwueze

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igerian starlets Kelechi Nwakali and Samuel Chukwueze have been pictured with Arsenal boss Arsenal Wenger and chief executive Ivan Gazidis, suggesting the announcement of the duo’s signings should be a matter of when rather than if. Sources revealed to Goal in mid-January that the Gunners had beaten oě competition from Europe’s elite to sign the pair, and now the Nigeria Under-17 stars appear

ever-closer to being oĜcially announced as new arrivals at the Emirates Stadium. Both Chukwueze and Nwakali played pivotal roles at the U17 World Cup last year, providing sterling performances that ultimately helped the Golden Eaglets lift the trophy in Chile. Goal understands that the pair will join Arsenal’s youth academy until they turn 18, when they will be expected to sign professional contracts with Wenger’s side.

When asked if the Nigerian-born striker will still be with the team next week, Grade said: “I think so. When I arrived Gabby was injured and was not in training for long time. The time I spent discovering the team and players was not here. He has trained in the last week and seems beĴer. “If he is in the right mood and okay physically, he could give us lift with goals. “Every player that is not playing is frustrated, you are a professional player, you want to play.” The forward has spent his entire career at Villa - making his debut win March 2006, scoring in a loss to Everton, but his time now looks to be nearing the end.

match as he beat the the Congolese defence and keeper Ley Matampi but his lob landed on the roof of the net. Both sides pushed for the winner before the ęnal whistle but it remained deadlocked after 90 minutes. With time running out and the match heading towards a penalty shootout Bompunga headed into the roof of the net past Ndayishimiye.

Murray shows up to celebrate brother Jamie’s title

A

sked if he’d watch his brother, Jamie Murray, compete for the men’s doubles title, men’s singles ęnalist Andy Murray said he would not. It would be too stressful, he said. He’d seĴle for looking at the ęnal results online. Andy seemed to be staying true to his word as Jamie and doubles partner Bruno Soares win their ęrst Grand Slam title. But as the trophy ceremony started, Andy appeared in the players’ box. “Andy, you should be in bed, but we’ll be in bed to support you tomorrow,” Jamie joked during his speech on court. Their mother, Judy Murray, had already Ěown home to Scotland, to aĴend to U.K. Fed Cup team responsiblities. But she, too, was awake for the win. Andy recorded the entire speech on his iPhone, looking like any typical proud brother. No maĴer that it was 1:10a.m. on the morning of his own Australian Open ęnal, in which he’ll face No. 1 Novak Djokovic. When you’re brother wins a Grand Slam, you show up. As he made his way back to bed, the younger Murray even stopped for a few photos. When it was ęnally time to go, he reminded fans that he had a good excuse.

Shuaibu joins Norwegian club

F

ormer Giwa FC striker, Ibrahim Shuaibu, has signed for Norwegian top-Ěight side, FK Haugesund, alongside another Nigerian Izuchukwu Anthony. The 19-year-old forward completed the move to Swedish club on Saturday. Shuaibu penned a three-year deal, same as Izuchukwu, who is a ball-playing and quick defender. “Nigerian Ibrahim Shuaibu (19) signed today for FK Haugesund during their stay in Estepona, Spain,” announced the club’s website on Saturday. Shuaibu played for FK Haugesund in a friendly against Stord, scoring thrice and weighing in with an assist. The fee for the transfer of the striker remains undisclosed, as the club’s general manager Eirik Opedal, would not comment on it after landing the forward from GBS Academy. Supersport.com had reported eight days ago that the striker was on his way to sealing a move to a European club. Shuaibu and Izuchukwu now increase the number of Nigerians at the Norwegian outęt to three. Nigerian international defender, William Troost-Ekong is also in the book of FK Haugesund.

Newswatch Times -Tradition built on Truth

www.mynewswatchtimesng.com

Vol. 2, No. 4

January 31, 2016

LAST WORD

...with

SUNDAY

N200

PAT UTOMI dinachi2005@yahoo.com

It’s on record FASTEST TIME TO SOLVE 5 RUBIK’S CUBES Bhargav Narasimhan, 22, an Indian student from the southern city of Chennai, has set a new Rubik’s Cube record by solving five of the puzzles in just over a minute, using only one hand; he achieved the feat in 1.23.93 minutes at an event in the city, breaking the existing Guinness World Records record of 1.52 minutes.

Bridging the financing gap and optimal tax rate

I

t started with south sound crude oil prices. But it should have started much earlier. Public authorities in Nigeria seem to have rediscovered the concept of taxation. But can the push discourage savings at some point and bring forward images of Arthur Laěer, the Laěer curve and supply side economics? The spark for the issue to gain is the new tax on deposits in the banks. But the need for a proposition on optimal tax rates have been coming for years since oil receipts oriented government from being less accountable to the people and less disposed to demanding taxation levels required for services the government was required to oěer with high oil prices that strategy was easier. But rapidly declining oil prices in the last one year has constricted revenue Ěows and thrown up a ęnancing gap. The natural outcome of the deęcits on the current accounts has been scarcity of foreign exchange, especially when response to depreciating exchange rates is to retreat into controls with no recourse to the purchasing power parity. When divergence of nominal exchange rates from the purchasing power parity is so pronounced and a foreign exchange crisis is therefore evident. Urgency to bridge the ęnancing gap which breeds these outcomes of discontent often pushes a rush to policy interventions. A typical intervention with such a gap is to raise taxes. In proceeding down such a track is to raise taxes. But we also know that policy rushed can produce undesired and unintended consequences. We can debate the value of policy stance being taken by policy makers about need for strong Naira, but the fact cannot be controverted that policy choices can resulted in iatrogenic outcomes where the prescribed medicine does more harm to the patient than the original disease being treated. Highly regarded US Senator and Harvard Professor Daniel Patrick Moynihan made famous the idea

of iatrogenic policy choice, but we seem somehow to make policies that deliver trouble routine because of the rigor in the policy process. It would be helpful if discussion of the need for taxes to bridge evident ęnancial gaps through new taxes take into account two possible eěects of raising taxes impact on savings, investments and the growth consequent upon increased production. The other is the point beyond which a tax revolt results.

Here I have to admit a certain preference IRU VSHFLĂ€F XVH WD[HV ZKHUH \RX FDQ PRUH UHDGLO\ UHODWH WKH WD[ money to services enjoyed. Gasoline WD[HV IRU KLJKZD\ FRQVWUXFWLRQ DQG maintenance, as the US H[DPSOH LV SUREDEO\ on classic case of VSHFLĂ€F XVH WD[DWLRQ

There are those who react to the

N50 charged on deposits into accounts from an outright rejection of the idea of taxes when incomes are dropping. But that in my opinion is a throw up from many years of not paying taxes. There is also the fact that people never do cheer new taxes. When the idea of Value Added Tax (VAT) was being considered, many gave the Emmanuel I j e w e r e commiÄ´ee a hard time. But that tax has been a good tax

and generally a fair tax, if we take away issues of how ęscal transfers between the Centre and the states from VAT receipts. I do think we need to raise taxes but ensure that those whose consumption do less for stimulating production pay more. Same should go for those who extract more rent than create wealth. But with a tax on deposits we need to study more carefully its impact on savings. What about the question of optimal tax rates and the rising tax incidence? Such question bring to mind the reign of supply side economics and one of its chief disciplines, USC economist Arthur Laěer. The Laěer curve as template for gauging optimal tax rates was a guru of the Ronald Reagan/ Margaret Thatcher ideological partnership of the early 1980’s does have value. Even though I have in the past argued that Arthur Laěer tried to “elevate� supply side economics to the level of a religion for which I did not have an article of faith, it none the less has its value when considering raising taxes. I think that at this stage in considering ęnancing challenges we need to ęnd creative ways of raising taxes but be careful not to move so quickly for it is like puĴing an addict into a rehabilitation programme. The pacing maĴers. Here I have to admit a certain preference for specięc-use taxes where you can more readily relate the tax money to services enjoyed. Gasoline taxes for highway construction and maintenance, as the US example, is probably on classic case of specięc-use taxation. Communicating policy purpose and projected outcomes and beneęts is very essential here. But it has not been a territory of great strength for the extant order in federal government and so needs particular aĴention. Pat Utomi, Political Economist and Professor of Entrepreneurship is founder of the Centre for Values in Leadership.

FACTS FILE Between 2011 and 2014, the percentage of adults with an account increased from 51 percent to 62 percent, a trend driven by a 13 percentage point rise in account ownership in developing countries and the role of technology.

Alhaji Sir Ahmadu Bello, the Premier of the Northern Region of Nigeria, was thought by many to be the most powerful figure in Nigeria during the first Republic.The descendant of the great reformer, Shehu Usuman dan Fodio, the Sardauna grew up in the atmosphere of the Muslim and aristocratic tradition of the Fulani conquerors of Northern Nigeria.

When the Americans defeated favorite England in the 1950 World Cup, the story goes that many newspapers around the world believed the 1-0 score to be a typo and instead printed that England won 10-1.

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