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Sanctity of Truth

Monday, May 12, 2014 Vol. 1 No. 83


of human Theandshortage technical capacities


Nigeria’s most authoritative newspaper in politics and business

IOCs’ divestment: Nigerian firms face hurdles

Adeola Yusuf

among local oil companies may prevent Nigerian firms from maximising the investment opportunities inherent in the

plans by international oil companies (IOCs) to divest N1.9 trillion assets from the country. Shell, Chevron, Agip,

2015: 500 politicians to watch

Kwara: Saraki siblings, associates, foes in power struggle

ConocoPhillips and other oil multinationals that have placed various juicy onshore and shallow wa-

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C O N T I N U E D O N PA G E 2

How to end Boko Haram insurgency, by APC

lPresidency: Nothing original about opposition party’s suggestion lIsrael offers to send experts to rescue schoolgirls lEscaped pupil recounts ordeal Geoffrey Ekenna and Onyekachi Eze


Policemen preventing people, including former House of Representatives member, Hon. Dino Melaye (second right) from holding a rally to demand the rescue of Chibok schoolgirls in Abuja…yesterday.  PHOTO: TIMOTHY IKUOMENISAN

CAN seeks removal of Borno, Adamawa, Yobe governors Dan Atori MINNA

The Christian Associa-

tion of Nigeria (CAN) at the weekend called on the Federal Government to declare full-fledged state of

emergency in Adamawa, Borno and Yobe States that will lead to the removal of their governors.

According to the northern chapter of the association, representing all the 19 state branches of CAN

he All Progressives Congress (APC) yesterday unfolded 10 strategies it urged President Goodluck Jonathan to adopt in his bid to end the Boko Haram insurgency in the North-East. The party, at a news conference on the insecurity in the country in Lagos, advocated, among others, a counter-terrorism strategy that will adequately end the discordant tunes from the Federal Government, build a new intelligence gathering infrastructure and align the military with negotiated political solutions. It also expressed concerns that with the Boko Haram crisis, the nation ran itself as if on auto-pilot because the Jonathan administration did little and depended on the ingenuity of Nigerians to fend for themselves and cover up government’s shortcoming. C O N T I N U E D O N PA G E 4



in the north, the current state of emergency that President Goodluck Jon-

31OC |26OC

C O N T I N U E D O N PA G E 5

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Churches, mosques torched in Kaduna unrest


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Sanctity of Truth

Monday, May 12, 2014

Why IRS plane crashed in Niger Wole Shadare


he crash of an IRS’ Fokker 100 aircraft in Niamey, Niger Republic was said to have been caused by equipment failure which led to the crew losing contact with air traffic controllers in Kano. Although, the Accident Investigation Bureau (AIB) and other relevant accident investigation bodies were yet to make definite pronouncement on the accident, a top official of the airline who spoke on condition of anonymity ascribed the cause to “equipment failure.” The source told New Telegraph that “all the equipment on board the airplane went off, leading to communication hiccups and the crew’s inability to establish communication with controllers forced the crew to jettison fuel after flying for several minutes, as they were left with no choice than to bring down the plane.” The extent of damage to the aircraft could not be ascertained as at press time, but it was learnt that the plane suffered extensive damage. It was not clear what could have made the com-


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the aircraft, with registration number 5NSIK, had two crew members on board. He, however, said the two crew members survived the crash. The airline voluntarily stopped operations last year as it tries to reorganise, just as there indications that the carrier was planning to expand its operations with acquisition of more aircraft. Four of the airline’s airplanes are currently on C-check. Aircraft maintenance checks are periodic inspections that have to be

done on all commercial/ civil aircraft after a certain amount of time or usage; military aircraft normally follow specific maintenance programmes which may or may not be similar to those of commercial/ civil operators. Meanwhile, the Commissioner of AIB, Dr. Felix Abali, is liaising with the Nigerien aviation authorities on the crash. Agbali has also dispatched an accident investigator to Niger Republic as an Accredited Representative to cater for Nigeria’s interest.

According to ICAO Annexe 13, the country of occurrence is in charge of the investigation. A statement by spokesman for the AIB, Tunji Oketunbi, noted that the country of registration is however allowed to send a representation. Abali has expressed the willingness and readiness of AIB to undertake the task of investigation if so invited by the Nigerien aviation authority. It would be recalled that AIB is the only independent accident investiCONTINUED ON PAGE 4

FIRST NATION AIRWAYS LAGOS-ABUJA (MON-FRI) 06.50; 09:30; 11:45; 16:00 (SAT) 06:50; 11:45 (SUN) 11:45; 16:00 ABUJA-LAGOS (MON-FRI) 09:00; 11:30; 13:40;18:30 (SAT) 09:00; 13:40 (SUN) 13:40; 18:30 LAGOS-PORT-HARCOURT (MON-FRI) 14:45 (SAT) 16:15 (SUN) 14:45 PORT-HARCOURT-LAGOS (MON-FRI) 16:50 (SAT) 18:20 (SUN) 16:50 AEROCONTRACTORS LAGOS-ABUJA (MON-FRI) 06:50; 13:30; 16:30; 19:45 (SAT/SUN) 12:30; 16:45 ABUJA-LAGOS (MON-FRI) 07:30; 13:00; 19:00 (SAT) 12:30 (SUN) 15:30 MEDVIEW AIRLINES LAGOS-ABUJA (MON-FRI) 07:00; 08:50; 12:00; 15:30 (SAT) 10:00; 15:00 (SUN) 17:30; 18:30 ABUJA-LAGOS (MON-FRI) 09:00; 14:00, 15:00; 18:30

Former Vice-President/Founder, American University of Nigeria (AUN), Atiku Abubakar and President of AUN, Prof. Margee Ensign, at the convocation of the university in Yola, Adamawa State…at the weekend.

IOCs’ divestment: Nigerian firms face hurdles CONTINUED FROM PAGE 1



puter system and communication tools in the flight deck of the plane to go off, but experts said it was not uncommon. Spokesman for the Nigeria Civil Aviation Authority (NCAA), Fan Ndubuoke, had in a statement Saturday night said the plane crashed at about 8.00p.m. on its way back to Kano, after completing a C-Check. He stated that the aircraft lost contact at Ganla in Niger Republic, adding that Niamey air control tower had been informed. Ndubuoke noted that


ters oil blocks for sale are under statutory obligation by the Nigerian Oil and Gas Indigenous Content Act (NOGIC) to sell the assets to local oil companies. But participants at the just-concluded Offshore Technology Conference (OTC) in Houston Texas, United States (US) expressed fear at the weekend over the ability of indigenous companies to maximise production from these blocks. Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, had disclosed that the IOCs operating in Nigeria would divest more oil blocks worth $11.5 billion (about N1.9 trillion) by December. Since 2010 to date, the IOCs have either sold or is about selling nearly 28 oil blocks, which were estimated to have a combined production capacity of 2.2 billion barrels of oil, equivalent of hydrocarbon reserve and worth about $5 billion (N840 billion).

Fielding questions from prospective investors and reporters at a panel session organised by the Petroleum Technician Association of Nigeria (PETAN), Alison-Madueke, represented by the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mr. Andrew Yakubu, however, allayed fears that the situation would lead to a crisis in the Nigerian oil and gas sector. The divestment, she said, was changing the onshore corporate landscape and creating material brownfield opportunities for upstream players looking to enter the Nigerian upstream space. According to her, indigenous production now accounts for about 10 per cent of production in Nigeria, a level, which is forecast to rise above 300,000 barrels per day (bpd) by 2015, while marginal field operators are expected to produce about 50,000 bpd based on current work programme.

She said: “The divestment in the upstream sector of the oil industry by the IOCs such as Shell, Total, Agip, Chevron and ConocoPhilips have continued to create an opportunity for participation in the industry by the Nigerian private sector...The divestment campaign was highly competitive and attracted interest from a number of indigenous and foreign companies. “By the end of this year, the total number of blocks that are likely to be divested is estimated to exceed 20 with not less than four billion barrels of oil equivalent and a monetary value of about $11.5 billion.” The minister, however, noted that the nation’s oil production has remained steady at about two million barrels per day, representing approximately 2.4 per cent of global production. According to her, gas production has also increased from 2.4 billion cubic feet per day (bcfpd) in 2009 to about 8.0 bcfpd

now. Giving reasons for the divestment, the minister said: “The fact is that a number of the IOCs are moving into more challenging frontiers in the deep offshore and are leaving the onshore blocks, which they consider less profitable. In addition, some of them have been sitting on oil blocks and have allowed the acreages to go fallow for years without significant development.” Divestment in Nigeria, according to her, signifies a shift in the IOCs’ strategy towards the offshore, which now accounts for at least 60 per cent of Nigeria’s total production. Moreover, she assured stakeholders in the oil and gas sector that the IOCs ‘remain very much present in Nigeria’ as Shell still retains ownership in 34 onshore blocks while Total, ExxonMobil and Chevron are still committing large amounts of capital to assets offshore Nigeria.

OVERLAND AIRWAYS LAGOS-ILORIN (MON-FRI) 07:15 LAGOS-IBADAN (MON-FRI) 7:00 IBADAN-ABUJA (MON-FRI) 08:00 IBADAN-LAGOS (MON-FRI) 16:30 ILORIN –ABUJA (MON-FRI) 08:30 ILORIN –LAGOS (MON-FRI) 17:00 ABUJA-ASABA (MON-FRI) 10:00 ASABA-ABUJA (MON-FRI) 14:15 ASABA-LAGOS (MON-FRI) 11:30 LAGOS-ASABA (MON-FRI) 13:00 ABUJA-ILORIN 16:00 ABUJA-IBADAN 15:00 ARIK AIR LAGOS-ABUJA (MON-FRI) 07:00; 08:00; 09:00; 11:00 13:00; 15:00; 17:00; 19:00 (SAT) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00 (SUN) 11:00; 13:00; 15:00; 17:00; 19:00 ABUJA-LAGOS (MON-FRI) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00; 20:00 (SAT) 07:00; 09:00; 11:00; 13:00; 15:00; 17:00; 19:00 (SUN) 09:00; 13:00; 15:00; 17:00; 19:00 LAGOS-PORT-HARCOURT (MON-FRI) 07:00; 09:30; 11:00; 13:30; 15:00; 17:30 (SAT) 07:00; 11:00; 15:00 (SUN) 09:30; 11:00; 13:30; 15:00; 17:30 PORT-HARCOURT-LAGOS (MON-FRI) 07:30; 09:00; 11:30; 13:00; 15:30; 17:00 (SAT) 07:30; 11:30; 09:00; 13:00; 17:00 (SUN) 11:30; 13:00; 15:30; 17:00 ABUJA-PORT-HARCOURT (MON-FRI) 06:45; 10:10; 13:30; 16:50 (SAT/SUN) 06:45; 10:10; 13:30 PORT-HARCOURT-ABUJA (MON-FRI) 08:30; 11:50; 15:10; 18:30 (SAT/SUN) 08:30; 11:50; 15:10

Sanctity of Truth

Monday, May 12, 2014




Sanctity of Truth

Monday, May 12, 2014

Chibok schoolgirls: Police disrupt planned rally in Abuja Lateef Ibrahim Abuja


olicemen numbering about 20 yesterday disrupted the planned protest by the Bring Back Our Girls Group at the Unity Fountain, near the Transcorp Hilton hotel, in Abuja. The policemen had stormed the venue of the planned protest as early as 7a.m. yesterday, cordoning off the entire place, thus making it im-

possible for members of the group to stage their protest. At about 8.30a.m., a sound system company that was setting up its speakers and microphones for the rally scheduled for the afternoon was ordered to go out of the Unity Fountain venue or get arrested. A statement yesterday by Mr. Rotimi Olawale, the Media Lead for the BringBackOurGirls’ group, explained that the

policemen made it clear that Unity Fountain venue could not be used by the group for its sit-out. The statement reads: “As early as 7a.m., the police had drafted a team of policemen to the ven-


ue of the rally. At about 8.30a.m., a sound system company that was setting up speakers and microphones for the rally scheduled for later this afternoon was ordered out of the Unity Fountain

The number of internally displaced persons (IDPs) of Sudan at the beginning of 2010. Source:

or face arrest. “As at 2p.m., over 20 policemen have occupied the particular spot at the Unity Fountain where concerned Nigerians had peacefully gathered for days to demand that the


The total area (in sq. km) of Chile. Source:

government BringBackOurGirls ALIVE before the commencement of the World Economic Forum. “Despite the looming police threat, BringBackOurGirls Campaign is determined to continue its sit-out and will assemble at the Unity Fountain from 3pm today. “We remain resolute that we have a constitutional right to gather and protest in a peaceful and orderly manner,” the statement concluded.


The number of fixed-telephone subscriptions per 100 inhabitants of Ethiopia in 2011. Source:

Why IRS plane crashed in Niger CONTINUED FROM PAGE 2

gation body in the sub-region. AIB, which has the only flight laboratory in the sub-region, is staffed with highly trained aircraft accident investigators. The laboratory can download and analyse Flight Data Recorder and Cockpit Voice Recorder. Oketunbi further stated that the agency had got in touch with the two pilots involved in the crash and would commence investigation immediately from the Nigerian angle

on the cause of the crash. One of the pilots is believed to be the son of Nigeria’s Inspector-General of Police, Mohammed Abubakar. “We don’t know right now the condition of the two pilots. That is the duty of the airline’s management. We don’t need to rush to get in touch with them, but we are still going to call them for investigation on the cause of the crash. They however have to get through medicals first. I don’t have the name of the pilots for now.”

L-R: Senior Partner, Dach Advisory, Dr. Abdulrahman Al Muhari; Ebube Kalu; Founder/President, Slok Holdings, Dr. Orji Uzor Kalu; Nicole Kalu; Chairman AKR Group, Mr. Ahmed Ridha, and Special Assistant to Kalu, Prince Kunle Oyewunmi, in London…at the weekend.

How to end Boko Haram insurgency, by APC CONTINUED FROM PAGE 1

But in a swift reaction, the presidency dismissed the party’s proposal, saying there is nothing original about them and also disputed the allegation that Nigeria is on autopilot. APC interim National Chairman, Chief Bisi Akande, in his address, also urged the government to rethink the military approach, which it said could not be solely relied upon to end the insurgency which has claimed some 1,000 lives this year alone. The party proffered its solutions on a day Jonathan, in a telephone conversation with Israeli Prime Minister, Mr. Benjamin Netanyahu, expressed confidence that with the global support that Nigeria has received so far, it will soon rescue the over 200 pupils of Government Girls’ Secondary School, Chibok, Borno State, abducted by Boko Haram insurgents 26 days ago. One of the abducted schoolgirls who escaped the Boko Haram captivity, recalled how they were abducted and her escape

from the insurgents. However, the Peoples Democratic Party (PDP), which praised the solidarity shown by Nigerians in the efforts to rescue the abducted Chibok schoolgirls, criticised the APC, which it accused of trying to reap political gain from the incident. Expatiating on the APC’s 10-point agenda to end terror, Akande warned that the mixed signals from the government on its anti-terror campaign was sending a wrong signal to the world about its determination to fight the insurgency. He also deplored the lack of use and coordination of military, political and economic means, adding that successful counter-insurgency requires close coordination of military, political and economic means and objectives. According to him, Nigeria needs a new intelligence infrastructure to be able to obtain more timely and actionable intelligence from local sources in terror-stricken areas just as he called for the establish-

ment of an office of special anti-terrorism coordination, to oversee the fight against Boko Haram. The party also called for improved intelligence to prevent, limit and respond better to terror attacks. It urged the Federal Government to improve on its contingency planning ability creating plans and conducting training exercises that reflect the challenges the military might face in various situations to enhance the efficiency of the troops. According to the party, since Boko Haram is unlikely to be defeated through military operations, government should start considering some forms of negotiations in line with that put in place by the late President Umaru Musa Yar’Adua to end the militancy in the Niger Delta. It also called for a deradicalisation strategy to prevent more young people, especially the illiterate and unemployed, from being brainwashed to join the outlawed sect. “Such strategies would require initiatives to coun-

ter violent extremist ideology and create positive incentives against radicalisation, and (beyond the current focus on punitive measures – arrest, detention and killing), give voice and representation to young people in the region,” it added. Besides, APC asked the Federal Government to solicit the operational involvement and assistance of member-nations of the Economic Community of West African States (ECOWAS) and the African Union (AU), including deploying multinational security operations across the Sahel to track and hunt down Boko Haram leadership. Akande, flanked by members of the national leadership of the party, who also criticised the president over the delay in the rescue of the over 200 schoolgirls listed other strategies as effective information management, economic development plan for the North and the involvement of civilian peace builders in the process. It said: “The proposed

recovery fund for the North-East is grossly inadequate window dressing. A real and massive effort is needed. Clearly, more financial resources are needed. Economic revival goes beyond providing substantial funds – it has to be guided by clear objectives, roles of public and private sectors and civil society groups, and must include social (education, health, religion, culture and traditional institutions), environmental, and political aspects, in addition to economic issues.” The APC, which said the government’s response to the Boko Haram impasse had reached a strategic stalemate, added that it was important at this point for the government to reform some of its approaches to be able to eventually surmount the insurgency. The party stated that what Nigeria needs now is a strong and committed leadership, not one that has its eyes on the 2015 elections only, as it accused the Jonathan administration of doing. The party said it was

worried that on the day the Chibok girls were kidnapped and a day after 75 people lost their lives in a bomb blast in Abuja, the president was in Kano, dancing at a political rally. “Our nation stands on the brink of a crisis. A stupendous national disaster beckons. But this current leadership can help avert disaster if they wake up to what true governance is. The time for excuses and half-measures is long past. The well-being of the nation hangs in the balance. If we do not act decisively, the demands of the moment will find us wanting and history will issue a terrible verdict against us,” the party added. While decrying what it called the nonchalance shown by the government until very late, it welcomed the intervention of various countries that have offered to assist Nigeria in rescuing the schoolgirls. It however warned that Nigeria cannot resort to begging, when it has everything at its feet to stand. “We welcome and commend the offer of CONTINUED ON PAGE 5


Sanctity of Truth

Monday, May 12, 2014


CAN seeks removal of Borno, Adamawa, Yobe govs CONTINUED FROM PAGE 1

athan imposed last year, has not achieved its objective because of the retention of the governors. It therefore sought the removal of Governors Murtala Nyako (Adamawa), Kashim Shettima (Borno) and Ibrahim Gaidam (Yobe) so they could be replaced by military administrators with a view to restoring en-

during peace in the three states that have been the epicentre of Boko Haram insurgency. The northern CAN’s Executive Secretary, Prof. Daniel Babayi, made the suggestion in Minna at the inauguration of the Niger State chapter of the organisation. However, the CAN proposal is at variance with the position of the 1999

Constitution on how to remove an elected governor. According to Sections 188 and 189 of the constitution, the governor or his deputy can only be removed from office either through impeachment or the grounds of incapacitation. Also, Section 305 of the constitution which outlines the process for declaration of state of emer-

gency in a state is silent on the removal of elected democratic structures, a lacuna former President Olusegun Obasanjo exploited when in declaring state of emergency in Plateau and Ekiti states, he removed the elected governors. But defending CAN’s proposal, Babayi said: “If the half state of emergency thing is not work-

L-R: Interim National Chairman, All Progressives Congress (APC), Chief Bisi Akande; National Secretary, Mr. Tijani Tumsah; National Treasurer, Hadjia Safiya Umar Fawaq and National Publicity Secretary, Alhaji Lai Mohammed, during a press conference on the state of the nation, in Lagos... yesterday


The percentage of individuals using the internet in Colombia in 2009. Source:


The nominal GDP of Chile (IMF) in 2009. Source:


The number of internally displaced persons (IDPs) of Ethiopia in 2009. Source:

ing because the governors are still in place and they are still the chief security officers of the affected states, the Federal Government should remove all of them and put military administrators there so that when we succeed in the whole thing, the governors should be reinstated back to their seats. We are not against them, but we want peace to be restored in those places.” He accused the governors of not being sensitive to the peculiar needs of Christians in their states, saying that the northern states chapter of CAN is not happy about that. “There must be respect for everybody because if we respect their religion, they should also respect our religion too. “I will tell you the truth. You see, when you say Boko Haram, the name means anything about Western education that includes Christianity. So they have a fatwa against Christianity and every Christian is supposed to be a target. But it is not every Muslim that is supposed to be a target. Only those that are cooperating with Christians and those that are sympathising with Christians or those who are opposing the sect members that should be killed,” he said. He alleged that the terrorists only set ablaze villages when they could not

get Christians to kill. He added that the recent kidnap of students of the Government Girls’ Secondary School, Chibok in Borno State by the Boko Haram sect members and the general insecurity in the southern part of Borno State were part of the ongoing hatred campaign against Christians. “We are not happy that the Borno State Government and the rest of the authorities in the state did not do anything much to stop what was going on in the state. “Even when the WAEC officials told them that it was risky to allow the students to write their final year exams in such an unsafe environment, the state governor said they should go on and conduct the exams and that is not fair,” he stated. He queried the rationale for appointing Muslims as the principal, the vice principal and chief security officer of the school in Chibok, a town that is predominantly Christians. “Muslims in Borno State ought to have respect for other people and their religions. Will Muslims tolerate that if Christians are sent to their areas? In fact, they have not been sensitive to the peculiar needs of Christians in their midst and we are not happy about that because there must be respect for everybody,” he added.

How to end Boko Haram insurgency, by APC CONTINUED FROM PAGE 4

assistance by Britain, Canada, China, France, US, ECOWAS and the UN, among others to help find our girls. We welcome the British and American experts who have already arrived on our shores to assist us to find our girls and return them safely to their parents. “This confirms our stated belief that the war against terrorism is a global battle that needs all hands to be on deck,” it said. Reacting to the APC’s proposal, presidential spokesman, Dr. Reuben Abati, in a statement, accused the opposition party of trying to profit from the insecurity in the country. He said: “First, we consider it most unfortunate that the chairman of the APC will use the opportunity of the situation in the country namely the abduction of the girls of GSSC, Chibok to engage in parti-

san blackmail. “The issue of national security should go beyond partisan politics. This is a very serious moment requiring seriousness. But to reduce all of that to partisan politics is in bad taste, it is irresponsible one-upmanship. “One, Nigeria is not on autopilot. There is a government in place; there is a president who is also the Commander-in-Chief of the Armed Forces. He is doing his very best to provide quality leadership and to reassure Nigerians that government stands ready always to defend their best interest. “This administration has continually showed courage and commitment in the face of whatever challenges that may arise. “To give the impression that the president is doing nothing is dishonest. This government is not mouthing meaningless phrases; this government is not

engaging in blame game. This government has a job to do and it is doing the job. “Chief Akande has made a number of recommendations. This administration welcomes suggestions and recommendations. If he had limited his contributions to just making these recommendations, he would have sounded like a statesman. “But let him be informed that even those recommendations that he has made are things that are already in place. These are steps that had already been taken by this administration. So there is nothing original in his recommendations that is unknown to the administration.” Irrespective of the bickering, the president yesterday expressed optimism that the ordeal of the abductees and their families would soon be over. Jonathan, during a tele-

phone conversation with Netanyahu, anchored his optimism on the support Nigeria has received from the international community, with some nations making their military and intelligence-gathering skills and assets available to Nigeria’s efforts to free the schoolgirls. Netanyahu had called to convey his country’s sympathy and solidarity with Nigeria and offered to send a team of Israeli counterterrorism experts to assist in the ongoing search and rescue operations. He said the Israeli team would soon arrive in Nigeria, will work in collaboration with teams from the United States and Britain who are already in the country and their Nigerian counterparts to intensify the search for the girls. Jonathan briefed him on actions already being taken by Nigeria’s armed forces and security agencies to rescue the girls,

saying that Nigeria will be pleased to have Israel’s globally-acknowledged anti-terrorism expertise deployed to support its ongoing operations. Meanwhile, one of the abducted schoolgirls has recounted their ordeal in the hands of the insurgents. The pupil, who escaped from Boko Haram captivity, in an interview with the CNN, broadcast yesterday, said they came to their school in the night in seven lorries into which they ordered them to enter. The escaped pupil, who was not identified for fear of reprisal from Boko Haram, sounded so apprehensive to speak about the details of the offensive. Curiously, she parried question on the mode of dressing of their abductors. Meanwhile, the PDP has said the exceptional solidarity shown by Nigerians in the efforts to res-

cue the abducted schoolgirls demonstrated the oneness and determination of the people to fight terrorism. The party however criticised the APC for trying to seek “political capital out of the pains of the missing schoolgirls or other incidents of terrorism,” describing the opposition party’s action as shameful, disgusting, disgraceful and distasteful. PDP in a statement yesterday by its National Publicity Secretary, Chief Olisa Metuh, said the cry of Nigerians over the past few weeks had inspired a global response to join in the rescue of the abducted girls. The statement expressed the hope that if Nigerians continue to show such unity and solidarity, the country will emerge stronger and ultimately take its rightful place among the comity of nations.


ekiti 2014


Sanctity of Truth

Monday, May 12, 2014

I wasn't bribed to leave APC for PDP - Senator Adesina Wahab Ado-Ekiti


chieftain of the All Progressives Congress (APC) in Ekiti State, Senator Bode Ola, has said he was not in any way induced to leave the party for the Peoples Democratic Party (PDP). Ola said this in AdoEkiti yesterday while debunking some rumours

making the rounds over his defection to the PDP. Ola was in the Senate from 2007 to 2011. He clarified that his decision to leave his former party was basically a product of personal volition, contrary to insinuations in some quarters. He said he opted out of the APC when he realised that he was not being appreciated and

Fayemi promises rural transformation

...Takes rally to Ado farmsteads CAMPAIGN

Ekiti Governor continues to dish out promises to win


kiti State Governor, Dr. Kayode Fayemi, has taken his campaign for re-election to farmsteads in Ado-Ekiti area, promising to transform rural communities if re-elected on June 21 this year. In a statement by the Head Media, Kayode Fayemi Campaign Organisation, Mr Dimeji Daniels, which was made available to our correspondent in AdoEkiti at the weekend, Fayemi, the candidate of the All Progressives Congress (APC) in the poll, said more social amenities would be provided for people in rural communities to make life more abundant for them. The APC candidate said his administration had brought development to many rural areas, but promised better life for rural dwellers if re-elected in the June 21 governorship poll. Fayemi assured that the second term of his administration would dwell more on rural transformation. The communities visited by the governor's campaign train included Temidire, Bolorunduro, Ago-Aduloju, AgoOlogunja and Igirigiri. Shortly before Fayemi got to the communities, residents of AdoEkiti city centre such as lrona, Matthew Street, Odo Ado and Erifun trooped out in large numbers to cheer the governor's campaign train. Canvassing for votes of the people of Temidire, the gover nor pledged to construct the major road linking the settlement to other neighbouring communities, assuring them

that more teachers would be posted to the community's primary school. Listening to complaints of lack of staff quarters in the basic health centre, Fayemi promised to build a residential quarters in the health facility to ensure that 24-hour medical services are rendered. Making a stopover at Ago Aduloju, residents of the community praised Fayemi for constructing a new bridge over Ogbese River, replacing what is believed to be the oldest bridge in the state, which had been left in state of disrepair for several decades. The people of Ago Aduloju also praised Fayemi for constructing the road over the bridge despite the fact that the road is a federal road which leads to Ikare in Ondo State. The governor promised to look into the construction of speedbreakers on the road to check dangerous driving and prevent avoidable deaths of members of the community. The APC standardbearer urged residents of the community to vote "for a government that loves the masses and is ready to work for the people". Fayemi said: "You have to vote for a government that loves the masses and a government that's ready to work for you. The APC gover nment is ever ready to work for you. "If you play your own role by voting for us, we will play our own role by carrying out our responsibilities of providing good governance." Responding to a request for a secondary school in the community, Fayemi advised the people to immediately direct their request to the Office of the Deputy Governor for prompt action by the government.

recognised by the cabal in the party, despite his huge contributions to its growth in terms of money and materials. The former senator said he was attracted to the PDP by the leadership acumen and resilience of President Goodluck Jonathan to continue to move Nigeria forward, in spite of the numerous challenges the country was


facing. Besides, he explained that the emergence of former Governor Ayo Fayose as the candidate of the PDP in Ekiti State was another impetus that made him to develop interest in joining the party. He said the successful hosting of the recentlyconcluded World Economic Forum for Africa, under President Jona-

The internally generated revenue of Imo State in 2010. Source: National Bureau of Statistics

than was also a thing of joy for him. "I joined PDP out of my own volition and not as a result of compromising factors as may be misconstrued in some quarters. I sought the face of God in the process and the spirit of the Lord told me to go to PDP. "APC meant evil to me. Whereas, I did them a lot of good, they chose to repay me with evil. Please


The percentage of male internet users in Israel in 2012. Source:

let it be known to them that my defection to the PDP will soon terminate their tenure because the very day I left them, I know their house had begun to crack," he said. Continuing, he said, "I see PDP candidate, Fayose, as a man with exceptional political intelligence and man of the people. All I want from God is for him to win the coming election."


The percentage of individuals using the internet in Australia in 2011. Source:

L-R: Ekiti State Deputy Governor, Prof. Modupe Adelabu; Governor Kayode Fayemi; Afro Juju Musician, Sir Sina Peters; and member, Federal House of Representatives, Ekiti South Constituency 2, Bamidele Faparusi, during the Feyemi Re-Election campaign tour of Ode-Ekiti, Gboyin LGA... yesterday

Bamidele promises better days for civil servants


he governorship candidate of the Labour Party (LP) in the June 21 election, Hon. Opeyemi Bamidele, has said his administration will accord greater attention to the welfare and career progression of civil servants. Speaking in Iyin-Ekiti at the weekend, Bamidele, who is also a member of the House of Representatives, said to show his seriousness and high regard he has for civil servants, he decided to

choose his running mate from among them. His running mate for the poll is Alhaja Mariam Abimbola Ogunlade from Emure-Ekiti. A trained teacher, Alhaja Ogunlade, after working in the classroom for years, transferred her services to the Local Government Commission before retiring into politics. Bamidele noted that as the engine room for any administration, civil servants would be encour-

aged and adequately motivated to discharge their duties. "Our government will accord due respect to civil servants and we will train and re-train them. We won't dehumanise them. Our teachers, local government workers and others will not be disappointed when we come into office," he said. In his remarks, the State Chairman of LP, Mr. Akin Omole, said the party would not relent in

efforts at liberating the people of the state from the shackles of poverty. He added that no section of the state would be discriminated against in the resolve of the party to carry everybody along. Omole decried what he called tyranny in the state and added that no amount of intimidation would deter his party from pursuing its decision to save the state from the clutches of oppression.

...Assures Muslims of attention F ew hours after he unveiled his running mate for next month's gubernatorial election, Labour Party's candidate Hon. Michael Opeyemi Bamidele has assured of priority attention for Muslim faithful in Ekiti State. Bamidele gave the assurances yesterday during a Jumat service at the Ado Ekiti Central Mosque, where he also

read out his party manifesto to hundreds of worshippers. He also used the event which he attended with his running mate Alhaja Maryam Oguntade, to indicate his recognition of the large population of Muslims in the state. He said the choice of Oguntade was as a result of deep consultations with various interests and stakeholders in Ekiti.

He added that Labour Party could not have done otherwise since it is a party for the masses regardless of religion, sex and background. He, however, urged the Muslim faithful in Ekiti to vote for him and his running mate, and promised to make their welfare a priority when they get to office. Chief Imam of the state, Alhaji Jamiu Bello

Kewulere, who delivered a message at the service, admonished the two of them to have fear of God in all their political dealings. He thanked Bamidele for heeding his initial call to select a Muslim, a decision he described as politically prudent, urging his followers across Ekiti to back the Bamidele/Oguntade ticket.


Sanctity of Truth

Monday, May 12, 2014


Christians, Muslims fight over fence in Kaduna Ibraheem Musa Kaduna


risis erupted at Kachia in Kaduna yesterday over the demolition of the wall fence of a Muslims prayer ground. Many residential buildings and worship places were torched in the process. Kachia is about 120 kilometres from Kaduna. Speaking to New Telegraph on phone, the traditional ruler of the town, Agom Adara, Chief Maiwada Galadima, said that Muslims had earlier erected a wall to fence their eid prayer ground but part of the wall was demolished about a month ago. According to him, some people had secretly demolished part of the wall because it blocked the foot path that passed through the field, forcing pedestrians to go round the fence to reach their


Churches, mosques torched in Kaduna crisis destinations. “Unknown people demolished part of the wall to make way for passersby about a month ago. This caused a lot of tension in the town but calm was restored and the Muslims built back their wall,” Galadima told our correspondent. The Agom Adara said that reports reached him on Saturday night that part of the wall had again been demolished and he promptly asked some masons to rebuild the fence that very night. “On Sunday morning, news of what had happened had gone round the town, even though the wall had been rebuilt. This sparked off crisis as Muslim youths mobilised and burnt the Baptist Church at Angwan Stadium while Christians went and pulled down the entire wall at the prayer ground,” he said. According to Galadima, this led to reprisal attacks as Muslims burnt every Christian

home and church in their own part of the town while Christians also razed mosques and Muslim residences. The Agwom Adara said that calm was however restored when soldiers prevented both sides from crossing over to the other side of the residential divide. However, a source told New Telegraph that the crisis was still ongoing in surrounding villages. As at the time of filing this report, efforts to get the District Head of the Muslim part of Kachia town, Alhaji Sabiu Ismail Suleiman, proved abortive as calls put to his telephone lines did not go through. Kaduna State government was yet to issue a statement at press time. Governor Mukhtar Ramalan Yero called on the people of Kachia town and environs to remain calm and shun any attempt by enemies of peace to escalate misunderstanding as government has brought the

situation under control. In a statement signed by his spokesman, Ahmed Maiyaki, the governor called on all citizens residing in Kachia to avoid taking laws into their own hands as government is already working with all security agencies to ensure the protection of life and property. Yero warned that "Government will not fold its arms and allow enemies of peace cause mayhem in our state. I call on all law-abiding citizens to go about their businesses without fear of intimidation as security forces have already been directed to deal decisively with trouble makers." Yero assured the people that security agencies have already commenced investigations into the cause of the crisis and will not spare anyone found culpable "no matter their status in the society. ‘’ According to him, government ‘’will no

longer tolerate these acts of unwarranted violence against innocent citizens. Enough is enough." The governor urged people in Kachia as well as the entire people of Kaduna State to continue to live peacefully with one another irre-

spective of diversities, adding that difference in tribe or religion does not affect the common aspirations of the people. It was learnt late last night that a 24 hour curfew has been imposed on the town by the state government.

Uduaghan steps up campaigns for Jonathan Dominic Adewole Asaba


elta State Governor, Dr. Emmanuel Uduaghan, has stepped up campaigns for President Goodluck Jonathan, ahead of 2015. The Governor went down on his knees, begging the Niger Delta people and the rest of the country to continue to support his ambition. Governor Uduaghan, who could not hide his feelings during the ground breaking ceremony of the first Maritime University in Africa, the Nigerian Maritime University at Okorenkoko, Warri South-West Local

Government Area of the state, solicited for the President’s re-election. The President, who flagged off activities at the university's temporary site, Kurutie also performed similar functions for the Nigerian Maritime and Safety Agency's (MIMASA) shipyard and dockyard projects at Okenrenkoko. The Governor said, "I must say that we must all together give the maximum support to the president. Yes, Mr. President is from the Niger Delta and we thank the other parts of Nigeria for supporting him to become the President in 2011.

SERAP seeks UN sanctions against Boko Haram Dayo Ayeyemi


L-R: Former Minister of Power, Prof. Barth Nnaji; former Minister of Aviation, Princess Stella Oduah; former Commonwealth Secretary General, Chief Emeka Anyaoku; former Governor of Anambra State, Mr Peter Obi, during the 2014 Ndigbo Lagos Meritorious Award /Grand Reception Night, held at the Oriental Hotel, Lagos,…at the weekend. PHOTO:TONYEGUAYE

Confab delegate wants Nigeria reconfigured

l Says regional government not feasible any more Lateef Ibrahim Abuja


ORMER President of the Nigeria Union of Journalists and delegate to the on-going National Conference in Abuja, Mr. Lanre Ogundipe, yesterday pushed for what he called “the re-configuration of Nigeria”. He pointed out that Nigerians will be deceiving themselves to think that they can be one inseparable nation. Ogundipe, who stated that he was not advocating secession, declared

that the majority of the people in different zones in the country would like to run their affairs in their own way, by their ethos and by their own practices. The delegate, who is representing the NUJ at the conference, stated these in a press release personally signed by him and made available to Journalists in Abuja. Ogundipe equally declared that he was neither at the Confab to pursue a Yoruba agenda nor canvass support for the reversion of the country

back to regional system of government. According to Ogundipe; “ I will go for reconfiguration of this country. Why are we deceiving ourselves to say that we can be one inseparable nation? “While one is not advocating secession, the people out there, the majority of the people in different zones would like to run their affairs in their own way, by their ethos, by their own practices. “They do not object to having the same nation-

ality just for the sake of belonging to a country but in terms of doing things together. I know that the people of Nigeria would desire to do things their own way. “In other words, they would prefer a loose federation. Truly, a loose federation will be most suitable in our situation”, he said. Continuing, the NUJ delegate said, “I differed on the restructuring of the polity and averred that it must go beyond cosmetics and sloganeering.

ocio-Economic Rights and Accountability Project (SERAP) has urged the UN Security Council to move swiftly and impose sanctions against Boko Haram and their backers to end persistent attacks against children and other civilians. In a statement signed by SERAP’s Executive Director, Adetokunbo Mumuni, the organisation said by its Resolution 2068 (2012), the UN Security Council had stated its readiness to adopt targeted sanctions against armed groups like Boko

Haram that persistently violate the rights of children in armed conflict, including through abduction and attacks on schools. The group said: “With over 200 Chibok schoolgirls still missing, having been abducted by Boko Haram, now is the time for the Council to show that it can deliver on its mandate and implement its resolution when it matters most. “Sanctions send a powerful signal to the perpetrators and contribute to greater compliance with the Council’s agenda on children in armed conflict,” the group added.

Mark holds talks with Chinese Premier today Chukwu David Abuja


resident of the Senate, Senator David Mark, will today hold bilateral talks with the Chinese Premier, Li Keqiang and the President of the country's parliament, Zhang Dejiang. The talks are part of a capacity-development programme between Nigeria and China in Beijing, China. Senators Ganiyu Solomon( Minority whip); Helen Esuene (Chairman, Senate Committee

on Women Affairs); Garba Babayo Gamawa( Vice Chairman, Aviation); Isa Mohammed Galaudu (Vice Chairman, Banking) Sonni Ogbuoji (Vice Chairman, Appropriation) and former Senator Ibrahim Saminu Turaki are on the delegation to the parley. Mark will also address the joint Nigeria/ China Business Forum before meeting with the Nigerian Community in China, where he is expected to brief them on the developments back home in Nigeria.

l 8


THUMBS UP Foreign countries intervention will end terrorism, group says

Sanctity of Truth

Monday, May 12, 2014

Group lauds intervention measures to rescue Chibok girls

Cajetan Mmuta



in a statement made available to newsmen in Benin, the state capital weekend, said the measure would help put to an end to the activities of the sect. President of the body, Curtis Ugbo and Secretary, Mathew Edaghese, in the statement, urged the international commu-

BENIN Members of the group

he South-South Mandate, a socio-cultural and political organisation in Edo State has lauded the timely intervention of foreign countries in rescuing the 275 girls abducted at Girls Secondary School in Chibok, Borno State by members of the deadly Islamic sect, Boko

Pay attention to agriculture, says CRIN Sola Adeyemo



hairman, Governing Board of Cocoa Research Institute of Nigeria (CRIN), Francis Adenigba Fadahunsi, has advised government at all levels in the country to shift focus from oil to non-oil sectors of the economy, especially agriculture. Fadahunsi made the suggestion while speaking at the weekend during the inauguration of 10 Hilux panel vans and three buses purchased for the institute by the Federal Government. Held at the headquarters of the institute at Alomaja on the outskirts of Ibadan in Oluyole Local Government area of Oyo State, the board chairman said the country should start preparing now for the eventual dry-up of the 'black gold' so as not to be caught unawares. “Sooner or later, the oil will dry up because there is nothing that has a beginning that has no end, so, it is not as if one

is a prophet of doom, but, that is the reality and we must all be ready to face it,” he said. Fadahunsi said it was in realisation of this that the board of CRIN, since its inception last October, took it upon itself to turn things around at the institute in line with Mr. President's transformation agenda as it affects agriculture. He said part of the results of the efforts was the provision of the vehicles which cost millions of naira and the first of its kind to any of the research institutes in the country. He called on researchers to justify the government’s huge investment, saying; “To whom much is given, much is expected. The first tool of research is mobility and with the provision of this, what follows is the payment of your research grants, which the board is not sleeping over and as soon as that is done, let's see you moving at a very high speed to make CRIN a place of pride in terms of research output,” the board chairman said.

Edo FRCN Bronze FM station gutted by fire Cajetan Mmuta



mysterious fire at the weekend razed the Edo State station of the Federal Radio Corporation of Nigeria (FRCN), the Bronze FM. The incident, no doubt, means that the station will be off the air for the next one week after Saturday’s night disaster. Ne w Tele g raph gathered that the fire sparked off from the station’s transmitter room due to faulty electrical appliances that affected major parts of the transmitting cables. Staff of the federal

establishment, led by the South-South Zonal Deputy Director, Mr. Pius Osemwingie, quickly deployed fire extinguishers available at the station in order to put out the fire before men from the NDDC fire fighters came to the scene. Osemwingie urged listeners of the station to be patient and bear with the management over the ugly incident. He also assured that the station would be restored for normal service delivery in the next one week. He said the repair work at the station has commenced.

nity to step up measures aimed at giving immediate response to terrorists’ activities across the globe in order to save avoidable loss of life. According to the body; “We raised the alarm for an international action against these merchants of doom, whose strange doctrine abhors civilization and modernity long before now. It became ob-


vious that these beasts in human form are not just fighting the Nigerian state, but are waging a war of attrition against humanity and the entire world when they attacked a male school hostel in Borno State and slit the throats of all students in their sleep.” The continued; “That the international community could tolerate

these horrible acts of the terrorists for a day without moving against the sect was a mystery beyond our comprehension. It took the adoption of hundreds of schoolgirls and the attendant outcry against the atrocious act to move the world powers to action. “It is our position that though this help is late


in coming, it is still welcome; as more terrible acts will be perpetrated by the sect and their sponsors if this help had not come. Though much is lost, much can still be salvaged. “It is our hope that this intervention will help in putting an end to this madness and bring the terrorists and their sponsors to book,” they stated.


The total population of Bangladesh The number of fixed (wired)-broadband The estimated percentage prevalence of (representing 2.38% of world’s population) subscriptions per 100 inhabitants of CIS (Com- Female Genital Mutilation (FGM) in girls and in 2010. monwealth of Independent States) of 2011. women (15 - 49 years) of Benin in 2006. Source: Source: Source:

L-R: Divisional Head, Oil and Gas, UBA Plc, Razaq Shittu; General Manager, UBA New York, Rafiq Bengali; Technical Business Development, Chevron and Latin America Production Company, Ali Azizi; Group Managing Director/CEO, UBA Plc, Phillips Oduoza, and President, Chevron Africa and Latin America Exploration and Production, Ali Moshiri, at the cocktail reception hosted by Chevron Africa and Latin America on the Offshore Technology Conference (OTC) in Houston Texas…on Thursday

Jang wants cooperation with NBC Buhari Bello



lateau State governor, Jonah Jang, has solicited the cooperation of the National Broadcasting Commission (NBC) to create a new set of boxes for citizens to enjoy the new digital television that would be viewed in the state. He made this appeal while speaking yesterday in Jos. The governor said the commission was set up to ensure the smooth take-off of programmes from analog to digital television. He assured the people of the state of his readiness to partner with the NBC for a smooth transition from analog to digital television transmission before the expiring dateline. Represented by the Commissioner for Information and Communication, Hon. Olivia Dayzem, the governor said the state government has concluded all neces-

sary arrangements with the NBC to step up plans that will allow people to enjoy digital programming through the small converter box. Jang said awareness campaign on this would be flagged-off to help gather all available information that would ensure that the state makes progress. The governor added that Plateau State was selected to pilot the initialisation programme because of its unique weather and also because the first colour television in West Africa programmes was sited here. We are also discussing with the NBC to create a set of boxes that can give community service to our people. He urged the private and public sector to take advantage of the ongoing digital programming toward meeting world standard by appealing to Nigerians to support the commitment of President Goodluck Jonathan.

Monarch lauds Adenuga’s generosity


lobacom Chairman, Dr. Mike Adenuga (Jr.) has been described as Nigeria’s most generous personality whose milk of human kindness, philanthropy and compassion has been enjoyed by many across the world. Awujale and paramount ruler of Ijebuland, Oba Sikiru Kayode Adetona, stated this in his response to the toast proposed by the Dagburewe of Idowa, Oba Adekoya at the grand finale of activities marking his (Awujale's) 80th birthday held at the Dipo Dina Stadium, IjebuOde at the weekend. Awujale said: “Adenuga is the most generous man in Nigeria today. This is my son in whom I am well pleased. We need more of your activities in Ogun State. God will continue to give you the stamina, good health and grace. I thank you.” The monarch, who has ruled Ijebuland for 54 years decried the practice of tagging those pointing out the ills of the society as committing treason and advised government at all levels to

always take constructive criticisms in good faith while cautioning government appointees against making inflammatory statements capable of heating up the polity. He thanked the people of Ijebuland, especially the Renaissance Group for a job well done and pledged to continue to serve humanity to the best of his abilities. Speaking earlier, Governor Ibikunle Amosun, who named the recently constructed flyovers in Ijebu Ode after Oba Adetona, described the monarch as a colossus, who typifies the finest and best in our traditional institutions. He added that “as a lover of peace, Oba Adetona always ensures that peace reigns supreme whenever there were challenges. “Past governors of Ogun State attest to the fact that Kabiyesi uses his rich wealth of experience to offer guidance. I cannot achieve anything without the support of the Awujale. Please continue to guide and correct us when we are not doing it right,” Governor Amosun pleaded.


Sanctity of Truth

Monday, May 12, 2014


Reps demand emergency funds for NAPTIP ALLOCATION Money makes the difference, so says Bani Law as child traffickers gain ground Philip Nyam



ouse of Representatives Committee on Human Rights has made a case to the Federal Government to provide


emergency funds for the National Agency for the Protection and Trafficking in Persons (NAPTIP), to effectively execute its mandate. Chairman of the committee, Hon. Beni Lar (PDP, Plateau) made the appeal in Abuja at the weekend. Lar said: “We appeal to the Federal Government to please make available emergency funds to NAPTIP to carry out its mandate in Chad and Cameroon and even Niger, through their bilateral agreements on

The internally generated revenue of Gombe State in 2010. Source: National Bureau of Statistics

trafficking with these countries. “Without funding, they cannot carry out their functions in these countries. Tracking traffickers of this magnitude requires a lot of money,” she said. According to her, there was an urgent need for not only the supplementary budget, but an immediate intervention from government. The legislator assured that the committee would meet with the minister of finance on this subject to see how they


The percentage of male internet users in Iran in 2010. Source:

could raise some emergency funds for NAPTIP. She noted that: “The agency is the official government agency mandated by law to fight trafficking, to rescue girls, repatriate and rehabilitate them back home. “NAPTIP had done this in the past successfully, especially when they had adequate funding,” she said. Commenting on the recent abduction of schoolgirls in Chibok, she said the agency was practically not doing much.

Lar said the agency was just part of the Federal Government security team attending meetings and taking briefings. “NAPTIP could be part of the solution, but unfortunately the funding available to them is not enough for them to a carry out their daily operations in Nigeria,” she said. The chairman noted that the frequent attacks on schools and subsequent abduction of schoolgirls in the NorthEast by insurgents were


NLC, TUC fault confab committee

The total population of Cape Town, South Africa in 2010. Source:

Yekeen Nurudeen



L-R: Ogun State Governor, Senator Ibikunle Amosun; former Lagos State Governor/National Leader, All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu; widow of late Michael Otedola, Doja and Senator Oluremi Tinubu, during a condolence visit to the family of late Chief Michael Otedola at Epe, Lagos…at the weekend

Babangida Aliyu applauded for community development strides

American varsity graduates 260 students in Adamawa

Dan Atori

Ibrahim Abdul


people of Lapai and Tinhe Azza communities Lapai Local

Government area of Niger State yesterday applauded the state governor, Dr. Mu'azu Babangida Aliyu, for the developmental strides of his administration in the state. The commendation came when leaders of the communities paid the governor a solidarity visit at the Government House, Minna. The delegation was led by the Emir of Lapai and former Minister of Finance, Alhaji Ahmed Abubakar Muye, who spoke on behalf of the community. He said the Aliyu administration has embarked on several developmental projects that have impacted positively on the lives of the people in the community. Muye said: “There is no

gainsaying the fact that you have demonstrated your willingness to carry the people along by delivering the dividends of democracy to our people. This you have done by embarking on peopleoriented projects at the grassroots, which are anchored on your wisely conceived developmental action plan for the state.” He added that the communities would remain grateful to the government, especially the erection and equipping of 110 bed ultramodern hospital at Gulu, the construction of 103km standard road network from Lapai-Gulu-Muye, now 85 per cent completed and the quick intervention of the government during the Fulani/community crisis in the area. Governor Aliyu on his part assured the people of the communities that they remain relevant and important to the actualisation of the state’s vision.


University TatheoftheAmerican Nigeria (AUN), Yola, weekend graduated 260 students at its sixth convocation ceremony held in Yola, Adamawa State. The ceremony saw the award of degrees and diplomas ranging from First Class, Second Class Upper, Second Class Lower and Third Class in various disciplines. The 12-year-old institution during the occasion graduated six master’s degree holders in Information Technology while 17 others were also awarded postgraduate degrees in management. In her address at the occasion, President of the university, Prof. Margee Ensign, charged the graduates to be good ambassadors of the school in whatever endeavors they found themselves.

“I congratulate you on your most recent accomplishment, and I'm a bit humbled. All of you are uniquely talented in one way or another and you should be good ambassadors of the university in bringing quality leadership and development to Africa,” Ensign said. The occasion also witnessed the conferment of Doctor of Letters (Honoris Causa) on Ambassador John Simon, a former United States envoy to the African Union. According to her, Ambassador Simon has served as the Executive Vice-President of Overseas Private Investment Cooperation (OPIC), where he championed the agencies’ creation of social development funds for Africa, which resulted in the creation of four private equity funds focusing on archiving extra ordinary social results.

he organised labour movement has expressed dismay over move by the Committee on Devolution of Power at the ongoing national conference to transfer all labour matters from the exclusive legislative list to the concurrent list. The leadership of the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) at a press briefing in Abuja, yesterday said the move was contrary to recommendation of the Committee on Civil Society, Labour and Sports that was specifically assigned to deliberate on labour matters at the national conference. They cautioned that such attempt, if allowed to succeed, would destroy the country and return it to a period when there was no centrally coordinated labour union, which was characterised by industrial chaos. President of TUC, Comrade Bobboi Bala Kaigama, who spoke on behalf of the two bodies, noted that the Committee

worrisome. “This is a very worrisome situation and if Nigeria does not do anything about it, it will be a disaster for the country,” Lar added. She lauded the Federal Government, international forces and the United States for taking the lead; and the UK, China, France and Canada that have offered to help. Lar said as long as terrorism continues in the country, young girls would continue to be a major target of the terrorists.

on Civil Society, Labour and Sports has in tandem with the aspiration of trade union movement in the country, recommended that labour and other related issues be retained in the exclusive legislative list. He lamented that for inexplicable reasons, the Committee on Devolution of Power at the national conference under the Chairmanship of former Governor of Akwa Ibom State, Obong Victor Attah, has decided to transfer all labour matters from the exclusive legislative list to the concurrent list. The unions particularly carpeted the chairman of the committee for taking such position, arguing that he and members of the committee needed to be educated on the logic and final implications of what they are canvassing. He said: “We are organised labour, we won’t tell you our last joker, but we will definitely do something. When we get to the river, we will find a way of crossing it. It might be beyond Attah, but what we are saying is that he started it."

Osun 2014: Vigilance group flags-off sensitisation programme Adeolu Adeyemo


etermined to see that the Delection August 9 governorship in Osun State was hitch-free, a vigilance group known as the “Osun State Harmonised Vigilante Group” under the supervision of the state police command has commenced sensitisation and orientation programmes for all its officers. Making this known at Iperindo in Atakunmosa East Local Government area of the state at the flagging-off of the programme was the leader of the group, Alhaji Ridwan Hussein Yah 'Salam.

He said: “My group is battle ready to join hands with both the police and other security agencies in the state to ensure free and fair governorship election, while I call on politicians to cooperate with the outfit as well. “I am using this medium to caution politicians not to engage in any event that may lead to crisis before and during the gubernatorial election. My group, Osun State Harmonised Vigilante Group is not a political group, but we are loyal to any government in power in ensuring that the existing peace in the state continues.”


Sanctity of Truth

Monday, May 12, 2014

Action Alliance suspends national chairman, alleges misconduct Sola Adeyemo Ibadan


he national headquarters of the Action Alliance (AA) at the weekend announced the suspension of its National Chairman, Tunde Anifowose-Kelani. The committee, which found the chieftain culpable of misconduct, was the same organ earlier saddled with the task of investigating allegations levelled against the party's National Leader and former information commissioner in Oyo, Taiwo Otegbeye. The decision was part of the resolutions passed at the meeting of the highest caucus of the party, the National Think-Tank Committee (NTTC) held in Abuja on Thursday. The meeting, accord-

ing to a statement signed by Anaukyaa Mnenge Peter and Chukwuemeka Okoli, National Legal Adviser and National Publicity Secretary respectively, "was convened in compliance with the party's constitution, Article 15, Section 'E', paragraph 31, 32 and 33 of the INEC guidelines and regulations for political parties, 2013." Presided over by the National Vice-Chairman (South-West) Chief M.A. Adenekan, the meeting mandated the Deputy National Chairman, Alhaji Abubakar Mohammed, "to be statutorily performing all the functions of the Chairman as required until the investigations of the complaints and allegations of gross misconduct against him (Kelani) are completed."

Amosun's wife calls for more women politicians


head of the 2015 general elections, Wife of the Governor of Ogun State, Mrs. Olufunso Amosun, has advised women to make their voices heard and make their votes count by participating actively and encouraging others to take part in the political process. This was the only way they could be relevant in the scheme of things, she said. She stated this while delivering the keynote address at the Women's Conference with the theme: “The Role of Women in the Unfolding Political Equation” organised by the Capstone Church (Church Without Walls) in Yaba, Lagos to mark the 2014 Mother's Day and the church's 10th year anniversary. According to her, "I would like us all to believe in ourselves and work hard to meet the

requirements of whatever position we vie for. The role of women in the unfolding political equation can only be felt if we make ourselves relevant and contribute our quota to the success of the election." Mrs. Amosun, who has been empowering different classes of women in Ogun State through her Uplift Development Foundation to complement the work of the state government and boost women's economic capacity, commended her husband, Ibikunle Amosun for putting the welfare of women at the forefront. "I stand tall and proud to say that my husband, Senator Ibikunle Amosun, in addition to his relentless efforts to give the dividends of democracy to the citizens, has met and surpassed the 30% recommendation in Ogun State."

Fashola harps on information flow Muritala Ayinla


s search for the abducted 234 Chibok schoolgirls continues, Lagos State Governor, Mr Babatunde Fashola (SAN) has urged Nigerians to volunteer information that could help security agencies unravel the whereabouts of the girls. Fashola made the call at the weekend when he received a group of protesting artistes, models, nollywood stars and other volunteers who took a protest to the State House, Marina over the abducted girls. The group, led by the organizer of The Future

Project, Mr. Adebola Williams, said it took the protest to the Lagos State House to find out what exactly government at the state and federal levels was doing about the plight of the missing schoolgirls. Responding, Fashola said that information from people who have resided in that part of the country and those who have friends or relations in the area and who have information on possible places where people could be kept could assist the agencies in the rescue effort. Fashola said such information could be sent to his office or that of the security agencies.

INEC to distribute voters' cards in Ogun in August ELECTION

An opportunity beckons on Nigerians to exercise their civic rights Kunle Olayeni Abeokuta


he Independent National Electoral Commission (INEC) yesterday said it will distribute permanent voters' cards to eligible voters in Ogun State in August. The state Resident Electoral Commissioner


(REC), Mr Sam Olumekun, who disclosed this in Abeokuta, said the exercise would hold from August 22 to 24. According to him, the three-day exercise is for Nigerians who have attained the age of 18 years. Olumekun noted that continuous voters registration would afford eligible citizens who were unable to vote in 2011 the opportunity to do so in the forthcoming general elections. According to him, the commission was embarking on the exercise as part of strategies to achieve a successful con-

The total population of Salvador, Brazil in 2010. Source:

duct of the 2015 polls. He said, "Ogun State falls under Phase Three of the commission's plan which will commence distribution of permanent voters' card on August 22 through August 24. "The exercise will take place at the polling units where voters (will be) registered from 8 a.m to 4 p.m daily. Subsequently, it will be followed by continuous voters' registration from August 28 to August 31 and this will take place at a registration centre for every ward from 8 a.m to 4 p.m. The REC warned that anyone who engaged


in double registration would have his or name deleted. INEC had on Tuesday, last week, held a meeting with representatives of political parties in the state to brief them on the commission's plan for the 2015 polls. Meanwhile, the state chapter of the Peoples Democratic Party (PDP) yesterday expressed satisfaction with the INEC over the commission's preparations for distribution of voters' cards. The state PDP Publicity Secretary, Waliu Oladipupo, said the voters' cards are crucial to the next elections.


The percentage of individuals using the inter- The number of internally displaced persons net in developing countries in 2010. (IDPs) of Iraq in 2010. Source: Source:

Oyo State Governor, Abiola Ajimobi (right), discussing with the group of service commanders during their courtesy visit in Ibadan…at the weekend

Omisore welcomes reconciliation moves Adeolu Adeyemo Osogbo


he governorship candidate of the Peoples Democratic Party (PDP) in Osun State, Iyiola Omisore, at the weekend commended the leadership of the party on moves to reconcile all aggrieved members of the party. Omisore, who gave the commendation while receiving Islamic leaders from Iwo Zone who paid him a solidarity visit at his Ile-Ife residence, said differences were inevitable in politics but assured that in no distant time, the differences among members of the party would be over. He however reinstated his commitment to an

inclusive reconciliation with all segments of the party ahead of the August 9 governorship election. The PDP flagbearer said he had never foreclosed reunión with any aggrieved section of the party and promised that "no sacrifice will be too much to make to defeat the evil APC government in Osun state." " I understand people want some clarifications. People are worried about their interests after the primaries. Others want outstanding issues cleared. I understand all these as a long-term political player and I assure our party men and women that we are on top of the situation. " I commend our par-

ty leadership for taking the first step towards reconciling all parties. Using the party as a line of contact and reunion is designed to create strong bond so that one group will not be seen to be dominating the space. That is why I withdrew a bit since the primaries." Now that the party has inaugurated the reconciliation committee, I assure party leaders ,members and supporters that I am open to genuine reconciliation that satisfies the interests of all," Omisore said. On the issue of deputy governorship candidate raised by the visiting Islamic scholars, Omisore said the decision was for the party to make, describing himself as

"a loyal party man who would abide by the decision of the party leadership on the issue . "My relationship with the people of Iwo dated way back. I have heard your request that I should pick my running mate from Iwo. I however plead with leaders from any interested town to work through the party so that whatever decision we take at the end will be fully based on the choice of the party structure," Omisore said. Leader of the team, Sheikh Imran Adio, had earlier presented a letter signed by many Islamic leaders in Iwo, requesting the PDP candidate to pick his deputy governorship candidate from the town.






Monday, may 12, 2014

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Mixed reactions trail new policy on commercial buses, cabs


Commercial buses at Mosefejo Motor Park, Oshodi.

Camillus Nnaji


ommercial drivers have expressed different views on the new policy by the Lagos Government which does not allow commercial buses or taxies registered in another state to operate. Some of the drivers, who spoke on the policy at the weekend, said it would bring hardship to families making a living by using their personal vehicles to convey passengers. However, others described it as a welcome development in view of the prevailing security situation in the country. The Commissioner for Transport, Comrade Kayode Opeifa, had said at the Transport Stakeholders’ Excellency Awards held at Sheraton Hotel, Ikeja, last month that with effect from May 3, all commercial passenger vehicles for intercity service without the Lagos State registered number plate would not be allowed to ply the roads in the state. This, according to him, is in continuation of the implementation of the state transport management system policy and to ensure the safety of road users. He said: “Any driver that obtains his driver’s licence solely from Federal Road Safety Commission (FRSC) without due certification from Lagos Motor Vehicle Administration Agency (MVAA), will have his licence not recognised in Lagos. This gave rise to the adoption of a unified driver’s licence scheme. “Though the new scheme commenced with several challenges which were expected, the operation of the same has stabilised a great deal now while solution has also been proffered both by the government (through MVAA) and her collaborator on the scheme which is the FRSC. “Operating stations have been increased from the initial six to 18 to bring service

closer to the applicants.” Emmanuel Brown, a driver who plies Ikorodu Road, said the government meant well by asking them to get Lagos number plates. He said: “However, some of us are running into difficulty doing that. If you go to MVAA, they will tell you to go back to the state where

you first registered the vehicle. That means if I had bought my bus from Borno State with the way the place is, I will go back there before working here to feed my family. “Government should listen to special cases like this and have human face when making laws. “Another issue is that they should add

two months’ extension so that we can get money to paint our buses in Lagos colours; that is for those whose vehicles are not painted in the colours.” Another driver, Ayola Alabi, who plies Oshodi – Sango route, said the government should harmonise with FRSC on driver’s licence. Ejike Obi, who uses his own personal car to convey passengers, said it would not be difficult for him to take care of his family. He said: “I am a graduate but I have no job. I have a wife and four children. I am doing this to help myself; it is not that I like it. Now to paint a car is about N35,000, when will I get that kind of amount to paint my car in Lagos colours? Don’t forget that vehicles need to be maintained. “If I make N2,000 a day, my family will feed, I will repair my car, I will pay house rent, water, school fees. Where will I get money to paint my car? The government should give us loan to repaint our cars, since it is compulsory to do that.”

My father pushed me into crime –Robbery suspect Juliana Francis


23-year-old man, arrested for attempting to rob somebody with a knife, has blamed his father for ‘pushing’ him to the underworld. The suspect, Sodiqu Adetayo, said that it was his first time he attempted to rob, but detectives attached to the Special AntiRobbery Squad (SARS), Ikeja, Lagos State, said he was lying. Adetayo said his father forced him to live in a taxi park, even though the man had houses at Bariga and Ikorodu areas of the state. The suspect said that aside from battling the harsh element, he also had to confront hunger on a daily basis. He added that he was frustrated because of all these challenges. That frustration, according to him, pushed him to pick up a kitchen knife one fateful day and attempted to rob a man, identified as Mr Ezekiel, a human right activist. After robbing the man, Adetayo searched the man’s bags, saw his identity card and decided to wait and see if he would come back for his items. A few minutes later, Ezekiel arrived

with policemen at the scene where he was robbed. The policemen saw Adetayo clutching the victim’s property and arrested him. He said: “I was frustrated. I just woke up one day and went to Anthony; I saw a knife, picked it up and kept it. On the fateful day that I was arrested, I picked up the knife and went to Anthony under bridge around 9pm, and saw Mr Ezekiel. Immediately I showed him the knife, he ran away, leaving his bags. “I checked the bags and saw an Android phone and a Techno phone. I saw an ID card and it showed that the man was a human right activist. I didn’t want to throw the bags away. I waited for him to return, so that I could return the bags to him. I didn’t know that he went to the police. They came and arrested me.” According to Adetayo, he lives in Anthony Taxi Park. The suspect added that he was allowed to sleep there because his father was the chairman of the park. He said: “My father built a house at Bariga, but he said there were too many bad boys there. He refused to give me one of the rooms. He said he did not want me to join the bad boys. I live and sleep at the taxi park. I learned sculpture as an apprentice.”

The suspect claimed his world crashed when his parents split, after his father impregnated their housemaid. His mother, according to him, walked out and left him with his father. He added that his father became a drunk, married the maid and had other children from her. But like Adetayo, the father’s wife and her children also sleep at the park. “The new wife has a shop at the taxi park, where she, her kids and my father used to sleep. My father doesn’t give me money to feed. He has his own problems. He has too many children. I take care of myself. “At a point I got tired of sleeping in the park. My mum gave him N50,000 to allow me rent one of his rooms in his buildings. But he spent the money and didn’t give me the room,” he added. Since his arrest, Adetayo said his father had not been to the police station to see him. But his mother, who had remarried, took time out to visit him. He said: “When she saw me, she started crying. She asked me why I went to do what I did. I told her that it was hungry that pushed me to it. I blame my dad for my situation. If I had a home, I wouldn’t be in this condition.”



Monday, Ma

Police arrest five suspected robbers, kidnappers IN CUSTODY

Three armed robbery suspects and two suspected kidnappers now in police cell for terrorising Ogun State Kunle Olayeni Abeokuta


olice in Ogun State yesterday said they had arrested three suspected armed robbers and two alleged kidnappers from two separate locations. While the bandits were nabbed at the popular long bridge on the Lagos - Ibadan Expressway on Saturday, the suspected kidnappers were apprehended same day at Agbado Road, Dalemo in Ado-Odo/Ota Local Government. The state Police Public Relations Officer (PPRO), Muyiwa Adejobi, confirmed the arrest of the suspects in a statement made available to reporters in Abeokuta. Adejobi said the Commissioner of Police, Ikemefuna Okoye, had ordered that

the suspects be transferred to the State Department of Criminal Investigation (SCID), Eleweran, Abeokuta for further investigation. According to him, the suspected robbers, Christopher Abuo, Nwanorim Ukachkwu and Ali Segun, have confessed to the crime of terrorising commuters and road users on the long bridge. The PPRO disclosed that one locally made pistol, some ammunition as well as police and military wears used for robbery operations were recovered from the suspects. He said: “The officers and men attached to Ibafo Division and the Special Anti-Robbery Squad (SARS) Ogun State at SARS office Magbon, Abeokuta arrested three armed robbers on the popular long bridge on Lagos - Ibadan Expressway on Saturday, around 1420hrs. “The suspects are assisting the police to recover their cache and apprehend other fleeing members of the robbery gang as soon as possible. “The commissioner of police also

Apete Bridge for completion September –Oyo


Abiodun Bello


he Apete Bridge currently undergoing reconstruction in Ibadan, the Oyo State capital, will be completed by the end of September. The Commissioner for Works, Mr Bimbo Kolade, disclosed this at the weekend while addressing journalists shortly after an inspection visit to some roads and bridges being constructed by the state government within the Ibadan metropolis. Urging the people of the state, particularly those directly affected by the project, to exercise patience, Kolade explained that the delay

in the completion of the 45-metre bridge was to give room for solidification and laying of precast concrete materials used for the project. According to the Special Adviser to the governor on Media, Dr Festus Adedayo, the commissioner said that government had instructed the contractor handling the project to expand the water channels to allow for easy flow of water. Kolade added that the Governor Abiola Ajimobi administration would not leave any of the project it initiated uncompleted. He said: “The apprehension of the people that gover nment has abandoned the bridge and that rain has washed away the bridge is not true. We are here and you can see it yourselves... “The assurance that I will give to the people is that the work is going on; a period of waiting must be observed, otherwise things will fail along the line. Our people should be patient with government.” The Project Manager for the Toll Gate Interchange-Efunsetan Junction Road in Ibadan, Mr Michael Muir, said if the road was properly maintained after completion, it would last over 20 years, while the Principal Resident Engineer, Mr Tajudeen Akanbi, expressed confidence of the durability of the road.

expressed his satisfaction with the full execution of the special operation order designed by the command recently to tackle crimes and criminality in the state by officers and men of the command. “The command, with the operation order, will constantly raid black spots and patrol major highways and dangerous routes in every nook and cranny of Ogun State, including riverine areas to checkmate the excesses of men of the underworld.” Adejobi explained that two suspected kidnappers, Philip Okere and Ugho Samuel, were arrested by police detectives based on the complaints of one Folorunsho Abraham, who claimed that the suspects attempted to kidnap his grandchildren. “According to the complainant, Folorunsho Abraham, the duo attempted to kidnap his grandchildren, Damilola Folorunsho (six), and Olaitan Folorunsho (five), at the said address; and the suspects were questioned about their mission in the area, they could not give any

The robbery suspects

satisfactory explanation,” he said. The PPRO reiterated the commitment of the state command towards fighting crimes and criminals to a standstill. “The command will always ap-

preciate the memb who have seen or ing as a collective sponsibility for the commitment in ach policing of the stat

Lions Club offers free eye test, glass Babatope Okeowo Akure


he Lions Club International, a voluntary organisation, has distributed eyeglasses to members of the National Union of Road Transport Workers (NURTW) in Akure, the Ondo State capital. At the event, which took place at the modern Caring Heart Motor Park on Ondo Road, over 200 drivers at the weekend got the free eyeglasses. It was organised by Lions Club International, District 404A1. The club also conducted free eye screening for drivers and other members of the public. District 404A1 Governor, Lion Tokunbo Jegede, said the mission of the club was to reduce blindness to the barest minimum in society. Jegede added that the eye screening test for drivers was to help reduce the rate of accidents caused by poor sight. He also commended Governor Olusegun

Mimiko’s administration for providing an enabling working environment for transport workers in Ondo State. Responding on behalf of the beneficiaries, the state Deputy Chairman of NURTW, Mr Ajisafe Omobomi, thanked the club for the gesture. Also, the state Financial Secretary of NURTW, Mr Titus Filani, lauded

the club for its outstanding achievements over the years. He pledged the union’s partnership with the club to better the lives of the less privileged in society. Highlight of the event was the inauguration of Lions Club International, NURTW chapter, which happens to be the first ever in the history of the club. One of the beneficia

Controversy still trails Ondo Babatope Okeowo Akure


here appears to be a major crack among the rank of traditional rulers in Ugbo kingdom, Ilaje Local Government Area of Ondo State. About 150 of the monarchs have backed out of the decision to reject the list of representatives of the communities on the board of Ilaje Regional Development Council (IRDC) submitted by the paramount ruler of the kingdom, Oba Fredrick Akinruntan. Already, the Olugbo of Ugbo kingdom, Akinruntan, has submitted the list of the representatives of the communities in IRDC to the Ondo State Oil Producing Areas Development Commission (OSOPADEC) for onward

transfer to Chevron Oil Limited. But some lesser monarchs, chie and indigenes of the communities the oil rich kingdom have criticised th list, saying he had no power under th Global Memorandum of Understan ing signed with the communities submit names on behalf of the com munities. They also petitioned the state Hou of Assembly over alleged irregulariti in the names, adding that the nam were handpicked by the monarchs an not through the communities. However, the Chairman of th Baales in the kingdom, Chief Andre Oyetomi, who faulted his colleagues o their decision against the paramou ruler, said the allegation of impositio levelled against the Olugbo of Ugb kingdom was baseless.



ayodele Ojo

Deputy Editor, politics

Monday, May 12, 2014

Let these people know that the entire civilised world is united against their terrorist act. We are grateful to the world for standing by Nigeria at this trying time. We hope and pray that the young ladies will be reunited with their respective families in the days to come

-Muhammadu Buhari

2015: 500 POLITICIANS TO WATCH Biodun Oyeleye


o say that Kwara State is an evolving democracy is not to belittle the 47-year-old North-Central state. For in reality, the state has just entered the second phase of the indirect experimentation with its political leadership. The political livewire of the state was firmly in the grips of the late Second Repuiblic Senate Leader, Dr. Olusola Saraki, until his demise on November 14, 2012. As he was used to saying, and which he demon-

strated many times before his death, the keys to the Ahmadu Bello Way Government House was in his pocket. And he gave it to whomsoever he decided. But in the 2011 general election, he could not give the keys to his daughter, Gbemisola, because his son, Dr. Bukola Saraki, who was then in the saddle as governor, opposed the move, which set up a bitter political battle that was electorally won by the younger Saraki. Many, however, argued that the face-off was a tactical means of testing the political wizardry of Bukola, who as eldest of the Saraki siblings, was expected to head the family after the passing away of their patriarch. If that was the case, then Bukola demonstrated his capability to head the political family his father spent most of his lifetime building. But will he be able to fight the 2015 political war, which will be the first he would be doing solo since his father’s death? There are many gladiators on the scene, both within his new political party, the All Progressives Congress (APC) and the opposition Peoples Democratic Party (PDP). The interesting thing about the Kwara battle is the fact that most of the gladiators were formerly in the same boat, under the same captain, but the wind of change has broken the boat. While the former governor has jumped ship with some of his followers to the APC as a viable alternative to coast home, some others have decided to remain with the boat to, in their own words, salvage it and move it to its destination: Government House in 2015. If there is any group of people that have a definite way of determining how election goes in Kwara, it is the Saraki women. They are women, many of them very old, others of middle age, who have an enduring pact with the Sarakis to follow their political choices all the time. They are the real owners of ‘Ile Arugbo’, the meeting point created for them by the late Saraki where he used to meet them to address them on key decisions of the dynasty for onward implementation, a system that has continued under the successor – Bukola Saraki. These women ‘sleep and eat’ Saraki. They guard their voters’ cards jealously. They stay long in the sun on Election Days to ensure they cast their votes. Many elite sons and daughters of Ilorin emirate have tried in vain to stop these women from following the Saraki dynasty and not even the unfortunate tragedies that have accompanied their assemblage in recent times have been strong enough to dampen

Saraki dynasty holds the ace in Kwara their resilience. They have a well structured system with leadership that have access to the head of the dynasty on regular basis. Being mothers, many believe that they have spiritual influence within the African tradition and system of thought and have remained a solid backing for the dynasty. In deciding the outcome of the 2015 polls in Ilorin, no one should underrate the role of religious leaders, particularly the leaders of Islam who often have a way of exerting influence on their followers. They determine in very many ways, how the pendulum should swing and they will again do the same in 2015, given the powerful role they play in decision-making about very many issues among people of the emirate. There are also the Magajis, the traditional leaders of the various households in the emirate. They count. They are known and have influence, more so, now that they have a body recognised in the traditional system. In the race to 2015, the following political gladiators will determine which way the pendulum swings: Bukola Saraki Arguably one of the most outspoken federal legislators in the current National Assembly, Senator Saraki has metamorphosed from a suave banker living a cosy, often lonely, lifestyle to a consummate politician daily surrounded by people of diverse status in life with the gift of the soap box. Since he became governor in

Saraki is the leader, Ahmed is the governor and in-between the two, the wheel of governance and politics rolls without let or hindrance

2003, e r the youngSaraki has not left anyo n e in doubt about his consummation with infusing the target-driven environment of the banking hall into the hallways of politics and governance in the state. There is no doubt that today his signature is evident in most of what can be pointed at as real development in the state. In 2011, he fought a gruelling family battle to enthrone his Commissioner for Finance, Alhaji AbdulFattah Ahmed as governor. Many consider this a major plus for his political leadership and vision, seeing that he could go against even his family to do what is considered right. He has demonstrated the same spirit in leading his followers out of the PDP into the APC even when staying would have brought him personal ‘protection’ and ‘advantages’ but he is convinced that, according to him, Nigerians are now tired of the ruling party and need a credible alternative movement. The chairman, Senate Committee on Environment and Ecology dared President Goodlukc Jonathan and his supporters in the PDP to try what he did early this year when he trekked for more than a kilometre on ‘Ilorin soil’ to show his popularity among the people. He made sure the state held a local government election with all the structures under his control before moving to the APC and today, no matter the argument, the structure of governance is firmly under his watch. He has created a new set of political elite in the state that if allowed to continue after 2015 could admirably replace the older war horses of his father’s era. His opponents accuse him of being too bossy and sometimes not smiling in public, arguing that although he has the mass around him, in reality he is far removed from them. Some of his former CONTINUED ON PAGE 14


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Monday, May 12, 2014


Saraki siblings, associates, CO N T I N U E D F R O M PA G E 1 3

associates are also not comfortable that the political fortunes of the state should continue to reside at Ile Loke, the family house built by his father as headquarters of his political dynasty. His followers however attribute the allegations to the failure of his opponents to make anything meaningful out of their own political opportunities. But no matter the argument, the reality on ground is that Bukola Saraki will be a major issue in the 2015 elections. The opposition will battle against his choices and if he defeats them, then he would have firmly established himself as the new godfather of Kwara politics. That was his father’s appellation until he died. Abdulfattah Ahmed A loyal and submissive follower of Bukola Saraki, the governor will also play a significant role in the determination of the 2015 polls in the state. Gifted and eloquent, Ahmed will also complement Saraki on the soap box, especially when the audience is Hausa. Those close to him have described how he rebuffs any side talks on the leadership system in the state: Saraki is the leader, Ahmed is the governor and inbetween the two, the wheel of governance and politics rolls without let or hindrance. A banker before heeding the call to join politics, Ahmed in the last 11 years has seen everything about governance, having been a Commissioner of Finance and Economic Development as well as Planning before becoming the governor. He has been able to append his own signature beside that of his boss in the provision of infrastructure in the state. To his credit, the Vocational College is standing at Ajase-Ipo just as five General Hospitals have been brought to international standard under his administration. If his administration is able to complete the Kishi-Kaima, Ilesha-Gwanara roads in the northern axis, then he would have written his name in bold letters among the rural people just as his predecessor did. The fact that he hails from Kwara South will also be a significant factor in the 2015 battle. The opposition will be waiting to see if Saraki will insist on the pre-2011 covenant among the then contestants to the effect that the governorship ticket will rotate among the three senatorial districts for a single term of four years each, or whether with the emergence of the APC, the old order will be swept aside to make way for a new agreement with Ahmed still the party’s candidate. Ahmed’s major political sin according to his opponents is the allegation that he defers too much to Saraki and that he is stingy. Both ‘sins’ are however strong points in his favour: he continues to get the blessing of his leader and he saves money. Gbemisola Ruqayat Saraki Another influential scion of the Saraki dynasty, Gbemisola, also called GRS by her supporters, is testing her political strength and acceptance against that of her brother in another election. The outcome of the PDP congresses in the state indicates that she has a support base and a network of fellow party leaders who see issues from the same perspective with her. At the end of the congresses, her group/affiliation controls 15 of the 16 local government executive members of the party and 30 out of the 33 state executive members of the party. In terms of gender support, most of her female supporters are ladies. When she contested the gubernatorial election in 2011, she came third behind Ahmed then of the PDP and Mr. Dele Belgore of the then Action Congress of Nigeria (ACN). Her major setback then was her gender; her father was unable to convince the majority of Muslims in the emirate to vote for a woman as governor. It was a big issue that divided Islamic scholars and politicians in the state then. Nobody knows yet how it will go if she decides to throw her hat into the ring in 2015. She may also need to convince the traditional leadership of the emirate on the need to support her cause, given what one of its spokesmen, Alhaji Woru Mohammed, has described as an understanding that the PDP wants to replicate an anti-Saraki era that was inimical to the stability of the traditional leadership, and last witnessed under the regime of late Governor Mohammed Lawal. GRS is known to be very generous and kind





hearted, with a wide network of supporters cutting across the grassroots. Her supporters claim that, just like her father, you don’t go to her house sorrowful and come back still sad. The outcome of the PDP congresses and her evident influence may however become an issue if not well managed by the party because it means now that the real control of both the APC and PDP are in the firm grips of the two Sarakis. Thus win or lose, the Sarakis will have the last laugh. Thus, her gender and political strength will be issues for her party but in terms of influence, GRS remains unbeatable within the PDP. A major task Gbemisola may face is that most of her father’s supporter, who stood by her in 2011 have shifted allegiance to the Bukola camp. For instance, two of the new commissioners in the state, Alhaji Saka Onimago and Chief Kayode Towoju, were drawn from her camp. There is also Alhaji Woru Mohammed, the Magaji Nda of Ilorin and coordinator of the Emirate Magaji Forum who has become influential in the admixture of the politics and traditional leadership of the ancient city of Ilorin. Magaji Nda recently led a delegation of over 600 of his colleagues from across five local government areas to express support for the APC. It is hard to imagine that a chief

would go to such an extent without the support of his principal, the emir. Razaq Atunwa Atunwa started his political career in 2005 when he was appointed Commissioner for Land and Housing in Kwara State. From that post, he moved to the Information Ministry as Commissioner in August 2006, and in July 2007 he became Commissioner for Works and Transport. Again he was moved to the Ministry of Finance in November 2009 from where he sought nomination for the governorship position in 2011. He was elected into the Kwara State House of Assembly to represent Owode/Onire Constituency of Asa Local Government in April 2011 and, on June 6, 2011, he was unanimously elected as Speaker of the Assembly. He indicated interest in the governorship ticket in 2011 and the fact that he was compensated with the Speakership meant he was considered a strong force in the process. If the PDP decides to pick a candidate from the central district, Atunwa will be a strong counterpoint for the APC. He is well loved among the populace and his political campaign mantra “Atunwa 1” has refused to go away even after the election.


Sanctity of Truth

Monday, May 12, 2014



foes in power struggle Lai Mohammed Lai Mohammed needs no introduction; the ubiquitous spokesman of the APC. Amiable and soft spoken, the weight of Mohammed’s capacity is contained in the strength of his written words. A highly cerebral strategist, the combination of a Bukola Saraki, who has seen the in and out of PDP politics with a Mohammed, who knows the political intestine of the opposition is a strong factor for anyone to consider in deciding the flow of the 2015 polls in Kwara State. Mohammed, who once sought to rule the state, has traversed the length and breadth of Kwara and is well received among the people. In his Oro town, he celebrates the harmony of religious views among his people: he holds his annual Ramadan lecture on the premises of a catholic church and when the church was to be officially commissioned recently, Mohammed was in the congregation. His influence is strong, although his enemies still say he hardly spends to invest on his people for a harvest at election time. That might not be much necessary again since the Saraki political war chest is supposedly strong enough to do the job. The advantage of the combination is that where Mohammed and his groups had been hindering the Sarakis during election, this time around the road is wide open.



Zakari Mohammed A former broadcaster, Zakari began to demonstrate the gift in him when he became spokesman for the Mandate 2003, the political movement Bukola Saraki used to win the governorship ticket. Since then, he has not left anyone in doubt about his influence and capacity. Although a first timer in the House of Representatives, Mohahmed has shown the same devotion to the people as evinced by his boss, in most of his activities. He has strong influence among his people in the northern axis and there is no doubt that they are happy with the way he has brought attention to his state and community through his activities in the lower legislative chamber. If the PDP should decides to go north in picking a candidate, there are strong indications that the lawmaker may be considered by the APC leadership for the race. He has an extensive network of political big names that can bend their ears to his cries at any time. Moshood Mustapha A retired Customs officer, Mustapha is also among those who have been in the limelight of politicking in the state since 2003. His father was a close ally of the late Saraki and he too has been a member of the dynasty. He has been reaching out regularly to his constituents in the Asa/Ilorin West constituency since he was elected into the House of Representatives. He is constantly in touch with the constituency and on the tips of his finger can tell anyone those who have been empowered or encouraged by his office. He is currently chairman, House Committee on Petroleum (Upstream).


He is also a loyal member of the Saraki movement, deciding last year to do away with his official security men because those of his boss, Bukola, were removed under controversial circumstances. As Speaker of the Assembly, he influences many things for the government such that his former colleague and friend, Ahmed, can focus on implementing the policies they agree on without fear of an uprising from the chamber. Shaaba Lafiagi A loyalist of the late Saraki, Lafiagi, a former governor of the state has transferred his loyalty to the new leader, Bukola Saraki. As a community leader with acceptance among the people, Lafiagi was rewarded with the Senate ticket in 2011, taking over from Senator Ahmed Ahmed. Soft spoken and gentle, the elderly lawmaker is well accepted among his Nupe people in the northern axis of the state. He will play a major role in interfacing for the government with the people. Lafiagi was governor of the state from January 1992 till November 1993 when the military kicked the then civilian administration out of office. After that, he went quiet on the public radar but soon appeared


The interesting thing about the Kwara battle is the fact that most of the gladiators were formerly in the same boat, under the same captain, but the wind of change has broken the boat when in 1999 the late Saraki began shopping for the man to receive his nod for the then general elections. Lafiagi thought he deserved the ticket, having not completed his term before the interregnum, but the late Saraki thought otherwise. Lafiagi went to the PDP and became a member of its Board of Trustee but Saraki came to the same party in 2003 and they became one again. Since that reunion, the political affair between Lafiagi and Saraki has been cordial. As a federal lawmaker, he will exert some influence on his people in the 2015 polls.

Bolaji Abdullahi Although not a politician in the real sense, the sudden sack of Abdullahi as Sports Minister by President Jonathan has conferred on the journalist a political strength that may be of use to the APC in 2015. The mammoth crowd that came to welcome him when he returned home after his sack and the elaborate reception put in place for him by the state cannot be easily forgotten. Thus there may be reasons to beckon him to the soap box in 2015 and with the way he was treated and the general condemnation that trailed that development, Abdullahi will definitely have something to tell the voters. Makanjuola Ajadi Between GRS and Ajadi, it is hard to know who will constitute the major headache for the APC. Both are generous, core politicians with vast grassroots support. Ajadi, former lecturer, former commissioner, former senator and now Presidential Adviser on National Assembly Matters is an old political war horse. His appointment as presidential adviser is seen as an empowerment move for him and a measure to strengthen the PDP in the state. It is said that Ajadi has empowerment projects in several communities in CONTINUED ON PAGE 16


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Monday, May 12, 2014


Bukola, Ahmed, Gbemisola, Belgore, Ajadi, CO N T I N U E D F R O M PA G E 1 5

his Southern Senatorial District. In terms of cosmopolitan exposure, Ajadi may stand taller than others in his group. He is known to have roots in several parts of the state. He is also a major force in the 2015 elections in Kwara State. Shuaib Abdulraheem Oba Former Vice Chancellor, University of Ilorin and current chairman, Federal Character Commission (FCC), Oba, as he is called, has a major role to play in determining the outcome of the 2015 polls in the state. He is known to be interested in making another effort to secure the gubernatorial ticket of his party in 2015, just as he did in 2011. When he came out in 2011, many were surprised because he was not well known as a politician but within the emirate. But he now has a level of followership due to his ability to generate federal jobs for indigene of the emirate using his office as FCC boss. However, the outcome of the PDP congresses may be an indication that most of the people may vote for someone else other than him in a real contest. He is the leader of the Freedom Group in the PDP, which raised several objections to the outcome of the congress, but it appears Abuja has called his group to order as they have decided to dump their petition and embrace the new party leadership in the state. Oba came into limelight in his days as the Vice-Chancellor of University of Ilorin where he took the powerful Academic Staff Union of Universities (ASUU) headlong in an epoch battle that was eventually decided by the Supreme Court against him. As a prominent son of Ilorin emirate, he was honoured with the title, Talban of Ilorin. Bola Shagaya Not much is known about this woman politically apart from being a close friend of Dame Patience Jonathan. The powerful oil magnate has not wasted the opportunities of her relationship with the President’s wife. She is reputed to have been financing the PDP in the state following the exit of the governor and Saraki. There are insinuations that she wants her son to stand for election as a member of the House of Representatives. The prospective candidate is expected to win the primaries and face Moshood Mustapha for the Asa/ Ilorin East federal constituency seat. Simon Ajibola Senator Ajibola became senator for Kwara South in June 2004 and was reelected in 2007. He was again re-elected in 2011. He is the only senator from the state that remained in the PDP. He believes that the Sarak cannot determine his fate and that of the state in 2015. Though, he may try his luck in going for another term, the APC will ultimately be his obstacle. This is the summary of his boast about his political prowess: “Two times I had contested against Dr. Olusola Saraki’s nominees and I had defeated them. During the 1994/1995 Constitutional conference, I deliberately joined the United Nigeria Congress Party, (UNCP) established its structure in the state and defeated Oloye’s nominee from the Consensus of Nigerian Congress (CNC). The records are there. Again, I won the Federal constituency as member of the House of Representatives comprising four local governments of Oke-Ero, Isin, Ekiti,





Irepodun on the platform of UNCP against Oloye’s CNC candidate. “That time too, we won all the state House of Assembly seats and the four council’s chairmen position and I, Senator Simon Ajibola, also won the Senate seat of the Kwara South against the so-called Oloye’s formidable political structure. So, it isn’t that Oloye made us. Therefore, it cannot be said now that Oloye’s political structure is getting out of the original PDP then, the party that is PDP has collapsed in Kwara State. Not at all. We have been winning and we will still continue to win. Five times I’ve contested elections and have won them all. By 2015 or thereabout, Nigerians will know those who are grassroots politicians and those that are tigers on the pages of newspapers.” Dele Belgore (SAN) One of the latest converts of the PDP and a member of the large and influential Belgore family of legal practitioners from Ilorin, Belgore had a massive support from the emirate when he contested against Ahmed and GRS in 2011. He also had a massive media support from Lagos. Both however might have been reduced given his decision to dump the APC. The argument was that those who supported him in the emirate in 2011 did so in order to avoid

being seen as supporting either Bukola or his father in what was seen as an unfortunate family feud. When he contested the governorship in 2011, it was with the influential support of the Bola Tinubu political machinery. Evidence of his possible loss of political weight was in the fact that he could not produce any of the executive members in the PDP despite his avowed popularity. His candidate had to withdraw from the race when he saw the way things were going at the primaries. But the Belgore name remains a strong asset for his political venture. Iyiola Oyedepo As state chairman of the PDP, Oyedepo has a serious task in uniting what is seen as a loose group of individual aspirants and power blocs under the umbrella of the party. The way this is done will greatly impact the outcome of the elections for the party. Although he promised not to be anybody’s boy soon after his election in order to ensure party unity, some people claimed that the reconciliation meeting he held with the Freedom Group in Abuja was without the involvement of his key backers in the primaries that produced his executive committee. Oyedepo, a lawyer and strong member of the TKP has been an active opponent of the

Saraki dynasty, and written several petitions to the Economic and Financial Crimes Commission (EFCC) against officials of the state government. He is a major factor both in the PDP and in Kwara as the 2015 elections approach. Wole Oke A respected leader among the community of critics and opposition in the state, Oke demonstrated the pragmatics of politicking when, despite having been a big thorn in the political flesh of the administration, he turned around and supported the campaign to elect AbdulFattah Ahmed as governor of the state. His argument was that the Saraki administration had removed one of the issues that had agitated his mind and that of his fellow travellers in the antiSaraki campaign by ensuring the governorship ticket went to the southern district instead of remaining in the central. Although his platform, The Kwara Project (TKP) has since been dissolved, there is still nothing to indicate that Oke has lost his pre-eminence among the comity of critical decision makers in the scheme of things in Kwara. In 2015, he will still be a strong voice, his age notwithstanding. Funke Adedoyin She was Minister of State for Health


Sanctity of Truth

Monday, May 12, 2014


Ajibola, Shagaya, Lafiagi battle for Kwara soul







in the Olusegun Obasanjo administration. Adedoyin, who has parted ways with the Sarakis is back in the fold courtesy of the merger between the new PDP and APC. She is known to be a close associate of former Vice President Atiku Abubakar. She still has strong influence in her southern district and is expected to leverage on her experiences and contributions to the well-being of her community when the election comes. She was very strong in the opposition during the 2011 polls and is expected to deploy her resources and resourcefulness to actualising victory for her party in 2015. Ishaq Salman Remember him? Remember the young senator who had a controversy with the late Dr. Olusola Saraki over who was the rightful owner of the Senate ticket on the platform of the All Peoples Party (APP), as it then was? The controversy was that Saraki, having failed to secure the nomination of his party for the presidential ticket, asked Salman, or that his followers asked Salman, to return his Senate ticket to the old man but the medical practitioner insisted that having been voted into the Senate, there was no way he could return the ticket to the elder Saraki. And he stuck to his guns. Of course, he

did not return to the Senate in 2003 as Gbemisola Saraki took over the ticket and used it for eight years before her brother, Bukola took it over in 2011. Salman had been quiet on the political scene for some time but he is back and has pitched tent with the APC. He has a strong personality and influence within his community in Ilorin. Alhaji Bibire Ajape If there is a man not born a Sarakite but whose living revolves around the Saraki, one of them is Ajape. He is also known as ‘Leader’ because he came to limelight in the 2003 election as Youth Leader of the Saraki dynasty. Ajape is a great political mobiliser and has very strong influence among the youth and the women who make up a sizeable portion of the Saraki system. He currently runs a radio programme where he shares deep insight about the philosophy of the Saraki political system as well as activities of government. He has been a local government chairman, Adviser on Infrastructure, Transport and Utility and is now the Special Adviser to the governor on Politics, a position that has great role in determining interface of political activities in the state. A Bibire Ajape on the soap box is a delight to watch and in 2015, he is expected to rev up the

performance he gave out in 2011. Ishola Balogun-Fulani He is the state chairman of the APC and held the same position while in the PDP. As the party chairman, he wields influence on who gets what in the party ahead of 2015. Though Saraki and Ahmed will determine largely the future of the party and its candidates in the state, Balogun-Fulani’s input will be sought on virtually all issues. Bio Ibrahim Ibrahim, a former Minister of Transport served as Speaker of the Kwara State House of Assembly during Saraki’s eight-year reign as governor. Many trace Ibrahim’s anger against Saraki to his failure to clinch the 2011 gubernatorial ticket of the PDP for which he resigned from what was considered as a juicy federal appointment. Although he is now in the same circle with Oba, when they were running for the 2011 gubernatorial ticket, Ibrahim had rubbished the metaphor of a building foundation started by the FCC chairman. And unlike Oba, he could not regain his seat. When he lost the race, he returned to his base and remained silent, due largely to ill health until his recent appointment as Chairman of the Nigerian Investment

Promotion Council (NIPC). Ibrahim himself explained his conflict with Bukola Saraki thus: “Regrettably, I don’t think Bukola Saraki trusts me as much as Baba Saraki did. Before the 2011 election, I sat down together with Bukola and I said, can I put in if it is the wish of God to succeed you. He said go ahead. I bought the form. But later, Bukola denied that he ever asked me to buy the form. Then I went to meet President Jonathan because I was serving as Minister of Sports under him at that time. I said Mr. President, I have discussed with Bukola and he endorsed that I should buy the governorship form. So, I’m going to flag off my campaign. “I left, flagged off my campaign and I asked all Kwarans to elect me as governor. It was the mother of all campaigns, only for Bukola Saraki to call me around 2a.m. on the night of the primaries and said he had decided to zone it to Kwara South and give it to Abdufattah Ahmed. I took it with faith. But while I expected Bukola to have called me and said okay, it’s not everything you look for that you get, and sooth the balm of all the injuries he has caused me, he continued to treat me like a cancerous part of the body.” CONTINUED ON PAGE 18


Sanctity of Truth

Monday, May 12, 2014








Political gladiators that will shape Kwara CO N T I N U E D F R O M PA G E 1 7

However, from the barrage of criticism that greeted his verbal attack on Saraki, it is evident the former minister may not enjoy sufficient backing from his constituency. This may be compounded with the fact that he comes from the same area as Zakari Mohammed who since assuming duty in the lower chamber of the National Assembly has put up a sterling performance that has endeared him to many. He has supported this with several empowerment projects that many argue has drained support from Ibrahim. Nevertheless, the former minister remains a force to reckon with in 2015. Abdulrahman Abdulrazaq A very successful oil magnate, Abdulrazaq has been running for the gubernatorial seat in the state since 2007. In 2011, he ran a successful campaign on the platform of the Congress for Progressive Change (CPC) but suddenly travelled few days to the election, leaving his supporters in dilemma. He has a deep pocket and willingness to spend if the need arises and will be a major asset to the fund raising aspect of the 2015 political battle in the state. It is not certain if he will attempt to contest again but if he decides and wins the primaries, he

will be a strong candidate. Some of his key supporters in the defunct CPC have however crossed to the APC. Lola Ashiru Ashiru is a strong voice in his southern district of the state. He has a vast network of supporters at the grassroots and was instrumental to the success of the Unity Group in defeating the Freedom Group at the PDP congress. His alliance with GRS yielded the landslide victory for the group. He was a major pillar in the old ACN and would have been the gubernatorial candidate before the Lagos Group insisted on fielding Belgore. With that, he teamed up with the late Saraki in the defunct ACPN on which platform he contested for the Kwara South senatorial seat. Although he lost, Ashiru still describes his time with the late Waziri of Ilorin as the most beautiful of his political experience. Ashiru remains a great mobiliser in the south. He was said to have lost because some key traditional rulers in the zone decided at the last minute to ensure victory for the PDP although they had an agreement with Ashiru. He may come back to demand the payment of that agreement in 2015. Kunle Sulyman Sulyman is the first chairman of the

original PDP in the state. He has his way of dealing with the masses and has his own support base. He has been consistent in working against the Sarakis but with Gbemisola in the same boat with him, it is not yet clear how he will handle the situation. He was among the first to deny the emergence of the new PDP and has never hidden his support for the Jonathan government. He is a dogged political warhorse and knows the intrigues of party campaigns. LAK Jimoh He remains a headache to the APC as long as the Supreme Court is yet to announce its decision on the case between him and Senator Saraki. He was a senatorial aspirant against Saraki in the PDP then and when Bukola was announced winner of the ticket he went to court. The matter has been moving from one level of judicial intervention to the other. His case is one of those the PDP is banking on to unseat the APC and probably run an election before 2015. Humble and quiet, LAK is a popular figure within the emirate. He has been in the PDP since its foundation in the state. Bilkis Gambari She ran a strong campaign against Gbemsiola Saraki in 2007. Her major

forte is being a woman and sister to the sitting Emir of Ilorin and still daring to go against the establishment. Although she lost that election, Bilkis came back in 2011 on the platform of the CPC. That time her campaign was not as rigorous as the earlier one. Nevertheless, she remains a major issue in the traditional system of the emirate because of her relationship with the emir, just as GRS remains an issue because of her relationship with Bukola Saraki. Incidentally, both of them are back in the same party. Very humble and unassuming, Bilkis is expected to leverage on her wide connections and respect among women of Ilorin who see in her a type of political defiance they might want to test again against the traditional system of the emirate.

EDITOR’S NOTE Last week, in our 500 politicians review of Enugu State, we inadvertently published that former Minister State for Foreign Affairs, Chief Dubem Onyia, who is a member of the Peoples Democratic Party (PDP) in the state currently works for Atiku Abubakar’s presidential ambition. We have since realised that this cannot be true since Onyia remains a chieftain of the PDP. We regret the embarrassment the publication might have caused Chief Onyia.

Our VISION To build a newspaper organisation anchored on the sanctity of truth.


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Sanctity of Truth

Monday, May 12, 2014

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Three things cannot be long hidden: the sun, the moon and the truth – Buddha

MONday, MAY 12, 2014

Security travel warnings on Nigeria

ecently, the United Nations in league with twenty nations issued stern travel warnings to warn their citizens about the inherent danger in traveling Nigeria. The scary travel warnings strongly suggest that the disturbing security situation has far greater implications than the controllers of security affairs in the country can ever imagine. Until the gale of loss of lives and property is urgently mitigated, the perpetrators of the heinous acts of insecurity may turn the country to a recluse state. Most embarrassing of all was at the United Nations (U.N.), where in the month of April alone when Nigeria’s Permanent Representative distinguished Professor Joy Ogwu exercised the country’s right as the rotating President of the Security Council, four core official statements condemning the frightening security situation in the country were issued within seven days. While the U.N. Secretary General, Ban Ki-moon, issued two statements of the four critical statements on the Nigeria terror attacks within three days, the first coming on Monday, April 14, 2014, after the Nyanya Bus station bombing, the second was on Wednesday following the kidnapping of more than 200 schoolgirls in Chibok, Borno State. The Security Council, which Prof. Ogwu presided over for the month, and

the United Nations Children’s Fund (UNICEF) completed the cycle of despicable statements on the country with strongly worded statements on suspected Boko Haram attacks during the week and on the abduction of the schoolgirls in Chibok. Sadly still, eight more girls were again abducted, this time, in Gwoza area of Borno State just a few days after Abubakar Shekau, leader of the increasingly blood-thirsty group of malefactors claimed responsibility for the dastardly acts and boasted that more girls would be abducted. For instance, in a statement on May 2 to its citizens captioned “ Security Message for U.S Citizens: World Economic Forum”, the United States of America drew attention to the fact that though there would be a heavy security presence in Abuja from May 7 to 9, during the World Economic Forum on Africa (WEFA), it also warned that “the detonation of two separate vehicle-borne explosive devices on April 14 and May 1 in the Abuja suburb of Nyanya underscores the continued need for vigilance, particularly around churches, mosques, and other places of worship; locations where large crowds may gather; hotels; markets; malls; and other areas frequented by expatriates and foreign travelers,” and strongly recommended that U.S. citizens traveling to or residing in Nigeria enroll in the Department of State’s Smart Traveler Enrollment Programme (STEP) an initiative that gives them the latest

security updates, and makes it easier for the U.S. Embassy or nearest U.S. Consulate to contact them in an emergency”. However, the U.S. Consulate in Lagos also said on that date in another statement that “the Department of State warns U.S. citizens of the risks of travel to Nigeria and recommends that U.S. citizens avoid all travel to Adamawa, Borno, and Yobe states because of the May 14, 2013 state of emergency proclamation for those three states by the Government of the Federal Republic of Nigeria. As of late April, groups associated with terrorism allegedly planned to mount an unspecified attack against the Sheraton Hotel in Nigeria, near the city of Lagos. U.S. citizens are cautioned to avoid these hotels at this time.” Similarly, the United Kingdom in a separate statement through the Foreign and Commonwealth Office (FCO) advised against all travel to several states spread across the country. Incidentally, while the warnings increased, the Federal Government also assured those attending the World Economic Forum from May 7-9 that heavy security and restrictions on movement during this period would be in place for the event. But the knockback effect of this is that the heavy security presence for the Forum itself may limit the ability of the security services to react quickly and effectively in other parts of Abuja if there are exigencies.

With the unfolding scenario, the countries issuing security travel warnings are not to blame. It would amount to crass negligence of duty on the part of the diplomatic missions to ignore the worsening state of insecurity, pretending that all is well. There is a high threat of kidnapping throughout the country. Recent terrorist kidnappings have occurred mostly in northern Nigeria, but could occur anywhere else. Kidnappings can be for financial or political gain, and can be motivated by criminality or terrorism, according to statements from the consular missions. However, we all need to be reminded that there would still be life after the WEFA. Since maximum-security cover could be given to Abuja and WEFA participants, it can and should also be extended to all other parts of the country, especially established flashpoints. The annual hefty budgetary allocations to security, and the additional financial and material support from overseas should be properly utilised. We have stated previously that the existing security architecture is designed primarily to cater for the interests of the elites, as unwittingly proved during the WEFA programme. This makes other members of the society highly vulnerable, as exemplified by the twin-bombings at Nyanya. The country must not be allowed to be overtaken by criminals and insurgents. GABRIEL AKINADEWO Managing Director/Editor-in-Chief IKE ABONYI Deputy Managing Director/DEIC FELIX OGUEJIOFOR ABUGU Managing Editor, South SULEIMAN BISALLA Managing Editor, North YEMI AJAYI Editor, Daily LAURENCE ANI Editor, Saturday EMEKA MADUNAGU Editor, Sunday LEO CENDROWICZ Bureau Chief, Brussels MARSHALL COMINS Bureau Chief, Washington DC SAM AMSTERDAM Editorial Coordinator, Europe EMMAN SHEHU (PhD) Chairman, Editorial Board GEOFFREY EKENNA News Editor PADE OLAPOJU Production Editor TIMOTHY AKINLEYE Head, Graphics ROBINSON EZEH Head, Admin.


Monday, May 12, 2014


Interrogating FG’s transport sector privatisation agenda

Kabir Bello


he Federal Government’s recent disclosure of its plan to privatize the transport sector should gladden the hearts of Nigerians and potential investors alike. Considering the important position of the country as the largest economy and most populous nation in the African continent, which lately had the honour to be the first in West Africa to host the World Economic Forum (WEF), the direction that its transport sector is taking should be of interest in public discourse. The decision of the Federal Government which was taken at the Federal Executive Council (FEC) meeting in Abuja was specific in its objective: “to open up the transport sector to the public for private participation”. According to the Minister of Information, Mr. Labaran Maku, who highlighted the FG’s intention on this issue, four bills aimed at transforming the sector were discussed in detail: The National Transport Commission Bill; the Nigerian Ports and Habour Bill; the Nigerian Railway Bill 2014 and the National Inland Waterways Bill 2014. While we await the report of the committee working on the framework for the bills, is to remind government and the nation of a few courageous men in our land who had ventured into massive investments in the private sector but who have been made to suffer from either policy inconsistency or deliberate frustrations from government agencies. This is an important area to examine because public trust and interest of potential investors can only be convincingly won if those few individuals who have stood up to be counted for the right cause in the transport sector are seen to be treated fairly. The case of Dr. Wale Babalakin’s BiCourtney Ltd comes handy as a reference point in private investment in the transport sector. The company was the first to build and operate an airport – the Muritala Muhammed Airport

(MMA) 2 in Lagos – which, seven years after, is still standing firm as a world-class infrastructure. It is important, therefore, that the experiences of the promoters of such a project, which did not have the luxury of the kind of legal framework and the assurance of removal of bureaucratic bottlenecks that the Federal Government is now promising, ought to be taken on board if the intention of the Jonathan administration regarding these four proposed bills is to be taken to heart. However, the stories that have trailed the success of MMA2 are sufficient to jolt investors and get the nation pondering. Government has failed woefully to honour its agreement with MMA2. It violated the most important clause of the agreement which is exclusivity. It has gone ahead to compete with MMA2 next door. How can a government that is promising reforms in the transport sector compete with its own concessionaire? As if that was not enough, government has refused to honour court rulings. Not only did BiCourtney win its arbitration against government, it has also won in the High Court. The Federal Government and other stakeholders have lost six appeals against this judgement and yet the FG is not complying with the Agreement. The same Babalakin’s BiCourtney is also being vilified over the Lagos-Ibadan Expressway concessioning which the Federal Government curiously terminated in 2012. But a careful and unbiased assessment of the issue would reveal that out of the three years and six months that BiCiourtney had the concession, direct delay by the Federal Government was two years, 10 months; rains accounted for another six months which showed that in effect, in a period of three years and six months, BiCourtney only had two months to work properly and did commence the work through Borino Prono. I am aware of the level of work that is currently ongoing on that important Lagos – Ibadan road, but anyone who is

knowledgeable about and sensitive to issues of law and legality would not miss the point that it might not be totally over as far as the legality of that purported termination of BiCourtney’s concession is concerned. Like the MMA2 issues, investors and discerning public would be interested in seeing how the final resolution would go beyond the mere award of contract on the road to Julius Berger Plc and RCC. For example, when was the tender for that job done? If there was no tender, wouldn’t the contract be deem illegal? Again, it would be asked, if indeed there was a tender, then the process must have taken place while BiCourtney was being misled into believing that it had a concession with the Federal Ministry of Works. The point of interrogating government’s recent interest in the transport sector is that if the Lagos – Ibadan Expressway concessioning ends in arbitration, wouldn’t the Ministry and its contractors be seen to have, all along, been working for the cocncessionaire who may likely find justice in court? Well, the Federal Government has since set up a committee chaired by the Attorney General of the federation, Bello Adoke, alongside Minister of Transport, Umar Idris, with participation from key stakeholders to work on the bills and present them to council for discussion and final approval. In fine-tuning the bills before their presentation to the National Assembly for consideration, it is pertinent to see the government applying wisdom and sincerity in pushing the needs for these bills. Such a legal framework is a welcome development, no doubt, but it can’t function effectively and fairly without an appreciation of certain good reference points in the sector that will ensure that potential investors are no longer subjected to needles injustices of frustration, heavy losses and regrets. •Dr. Bello, a socio-economic analyst, sent this article from Abuja.

Those in favour of the Pope’s visit to Nigeria (5) Bashorun JK Randle Continued from Friday


he Commissioner who just resumed duty in the Command a few weeks ago had earlier warned kidnappers to have a change of heart from their notorious act or simply relocate from Rivers state, adding that when caught, such people will face the full weight of the law. Similarly, men of the Special AntiRobbery Square arrested three armed robbers: Sunday Emmanuel, Sunday Iyem and Sunday Sampson were arrested with some assorted jewelries and three laptops. Again, on Monday, March 3, men of the Special Anti-Robbery Squad arrested one Lele Nedum with one AK47 rifle, three magazines and 21 rounds of 7.62 mm ammunition. Also in same vein, men of the Rivers State Police Command have intercepted a truck loaded with 900 bags of cement belonging to Dangote group which was from Obajana, Kogi State en-route Port Harcourt, earlier intercepted by men in Army and Naval uniforms in connivance with the driver, Mohammed Nura and Joseph John.” Acting on intelligence, men of the Riv-

ers State Police Command intercepted the truck at Airport Road, Igwuruta in Port Harcourt. Thankfully, the Coordinating Minister for Economy and Minister of Finance has gone into overdrive to counter the massive negative publicity against Nigeria. She chose the “Daily Independent” newspaper which gave front page headline on March 25 2014 to the following report: “10,000 Nigerians to own houses this year, says Okonjo-Iweala” The Minister of Finance, Ngozi Okonjo-Iweala, on Monday said 10,000 Nigerians would own houses in 2014 through the Nigerian Mortgage Refinancing Company (NMRC). Okonjo-Iweala stated this at a Stakeholders Housing Summit in Abuja. She said government had already received funds for the programme from the World Bank and additional 25 million dollars (about N4.1 billion) for micro financing and mass housing initiative. The minister said the 25 million dollars would be utilized for the mass housing initiative and to help persons at the bottom of the society to repair their old houses. She assured that the NMRC would begin operations at the end of June 2014. Okonjo-Iweala said money would be pushed into the system if state governors

would be ready to release Certificates of Ownership of lands. The minister said the summit would come up with the criteria for accessing the mortgage loans. She described the programme as “a very important milestone” of the Federal Government in its effort to provide affordable housing for all Nigerians, assuring that government would ensure that the project was realizable. “We are here to ensure that at the end of this year, so many Nigerians will say that as a result of this initiative, they have been able to buy a piece of land to construct their houses. “I am hoping that at the end of this occasion, we would have launched an initiative whereby 10,000 Nigerians who do not have houses today will have access to housing,” she stressed. Okonjo-Iweala also said the new mortgage system would be an avenue to create jobs for young Nigerians. “We have not yet created enough jobs to meet the number of entrants into the labour market each year; it is not that we are not creating jobs, but the issue is that we still have a gap of about 200,000 jobs.” More positive reports followed from “New Telegraph” newspaper of March

25 2014. Front Page headline: “Atlantic energy investments’ portfolio hits US $600 million in 30 months” Atlantic Energy, a Nigerian Independent Exploration and Production Company at the weekend declared that its investment portfolio in Nigeria has hit $600 million in two and half years. Group General Counsel and Company Secretary, Dayo Okusami who said this at a meeting with newsmen maintained that the company also committed an early entry fee of $135 million to show its level of commitment to the development of exploration and production in Nigeria. This level of engagement and seriousness according to Okusami was a result of the Strategic Alliance Agreement (SAA), which the company had with the Nigerian Petroleum Development Company (NPDC). Stating that the SAA, which generated controversy lately, has come to stay, the Attorney stressed that the agreement has been in place long before the administration of President Goodluck Jonathan. Concluded • Bashorun J.K. Randle ( writes from Lagos




Monday, MAY 12, 2014

Nigeria’s e-passport

The pains, the gains The e-payment for Nigerian passport was introduced by the Nigeria Immigration Service to ensure administrative efficiency, deliver passport promptly to applicants and check activities of touts. But, years after its launch, the problems it was meant to solve have remained the same,ISIOMA MADIKE writes


he sat down miserably, gazing at nothing in particular. Her face was an expression of disappointment and pain. Adebola Lawal was deep in thought. She had already spent close to two months at the Ikoyi passport office without securing a passport. Her mood was a consequence of the unkind treatment she received in the hands of immigration touts. “What have I done to deserve this? She asked no one in particular. “I’m confused on what to do next,” she lamented. Lawal, a single parent, worked with a private organisation around Ikoyi. She had planned a two-week holiday with her only son, Femi, in London. She said she had consulted an immigration officer, who promised to help her fast-

Alausa Passport office, Ikeja-Lagos.

track the acquisition of international passport for close to two months without success. Lawal said she lost not only precious time and money in her desperation to make the trip to the queen’s land but also interest in the journey. Said she: “I visited here for a record 10 times before I could get the passport form while submitting and getting a date for capture took another 12 days; and when that was done, and after going through other document information, which they didn’t fault, their Oga called me and said there were no sufficient passport booklets. He wrote something on my papers and directed me to pay additional N5 000 fees to a certain lady. He promised the passport will be ready in two days if I complied. The first officer

I met had earlier taken N20, 000 for an express job, which he did not do.” The case of Mrs. Chinyere Duru, a victim of spiteful demeanor of touts around FESTAC passport office, is somewhat pitiable also. She had come from Sagamu, Ogun State with her younger brother, Ugochukwu, who came in from Imo State to help her process the international passport to enable her attend the Apostles International Forum (ALF) global conference in Booysens-Johannesburg, South Africa. At the passport office in FESTAC, a female tout, simply identified as Onyeye, who sensed that the two were novices at the centre, intercepted them and subsequently introduced them to one Ijeoma, her supposed “link”, who claimed to work with im-

migration officers at the passport office. The two ladies then offered to help Duru collect the passport form, which is the first step in the process of procuring a passport. Onyeye asked them to pay N6, 000 to enable her do “ground wetting”, which was supposed to prevent Duru and her brother from going through the irritating and endless queue. “I can finish the whole job in less than three days,” the lady assured them. Duru, not willing to let the opportunity slip off, pleaded with the lady to give her few minutes to get in touch with another brother of hers that deals on electronics at Ijora for the money. “I saw




Sanctity of Truth

Monday, May 12, 2014

Problems persist despite electronic system going on and several people moving in and out of the premises. A first timer would quickly put himself or herself on check to avoid being robbed. Activities are going on all around the places and as the person moves closer to the offices, he or she is accosted by one or two persons, who inquire if he or she is there to procure an international passport or to get documents.

Ikoyi passport office, applicants waiting room

Applicants at one of the Passport offices in Lagos.


because I had missed the trip.

the lady as God-sent after hearing of the experiences of other people. I then told my brother that he should help raise the money immediately. My brother wanted to ask some questions but I told him there was no time for that as the lady was in haste to attend to other people,” she said. Few hours after the N6, 000 was given to Onyeye; the lady brought out a passport form, showed it to Duru, and demanded for another N15, 000 to complete the job. “She promised helping us to get the passport and we gave her a deposit of N8, 000 and pledge to pay the balance when the passport, which she promised was obtained. Unfortunately for Duru, what the lady showed her, was a photocopy and not the real passport form. “That was the last time I set my eyes on that lady. Her phone number didn’t go through and it was quite difficult locating her contact, who claimed to be a staff in the passport section of the immigration office. In fact, we were no longer interested in getting the passport through her but in getting our money

Applicants went through similar experiences Lawal and Duru are not alone in this experience. There are hundreds of thousands of Nigerians, who spent months at the various passport offices without acquiring the vital document. In their attempts to beat excessive delay in the processing of Nigerian passport, they fell victim to touts, who disappeared with their money. The same was the fate of Joshua Yakubu, who worked with a new generation bank with head office at Ajose Adeogun Street, Victoria Island. He was in the team that was to travel to France in October 2005, for two-week training on the use of Gori Automated Machine, required for processing of clearing cheque. But, Yakubu did not have international passport at the time. He had just two weeks to obtain one or forgo the journey. Sensing that time could be against him, Yakubu asked a protocol officer in the corporate communications department of the bank to assist him to

get the passport in good time. The staff told Yakubu that it would cost him N13, 500 since he needed it urgently. Yakubu, who said he needed the trip to France to boost his curriculum vitae, gave him the money the next day. But again, there were problems. The immigration officers requested for some other documents, which could not be readily produced. The staff did not want to spend too much time arguing over incomplete documents, so he decided to patronise touts around the Ikoyi passport office. The tout requested that Yakubu visit the passport office so they could take his photograph for the international passport. Yakubu complied. He went home happy with the hope of getting the passport in two days. The journey looked set until the two days promised turned to seven days, and then weeks. When Yakubu could no longer wait, he decided to go to the passport office to find out what had gone wrong. By now, he had missed the trip to France. The immigration officials admitted having Yakubu’s complete form but said the documents that were supposed to accompany them were not submitted; hence it could not be processed. Perhaps, it was the need to overcome Yakubu and others’ kind of experiences that made the Nigeria Immigration Service introduce electronic passport (e-passport) processing in 2007. But, what Yakubu and others suffered years back, is still being experienced today despite the new way of obtaining the international passport. The euphoria that greeted the introduction of both the e-passport and the electronic payment has since given way to public outcry against the problems it was meant to solve. Today, stories of Nigerians at the passport offices, especially those who have fallen into the hands of touts can be very pathetic. Approaching the gates of the passport offices, there are diverse activities

Passport offices like markets “Welcome sir, do you need passport?” “Do you need information?” “I can help you get it.” These are some of the things you will hear as you get to the passport offices. A visit to the Passport offices is like a visit to the market where you are confronted by sellers who invite you to come and buy their wares. In this case, the ware is the standard international passport. Out of curiosity, you might be tempted to follow the voices calling on you to know what they offer. Applicants can decide if they want the whole package or just one. If he or she settles for a total package, that is to procure the documents as well as the passport, he or she is charged N18,000 and assured that the passport would be ready in less than five days. The middlemen then call him or her a day later to report for capturing. He or she does that, and in two days, his or her document is ready. But, there are other dramas. At the Ikoyi office for instance, a rickety Combi-Bus parked outside the gate of the office serves as a mini passport office. Inside the bus is a computer powered by a mini generator, popularly called I beta pass my neighbour, where the unsuspecting applicants are told they can be assisted to get the international passport under 24 hours. Asked how that will be possible, a young man says, “if you are ready to pay above the required amount of N10, 000, you will get it fast. As you are still discussing, he brings out a piece of paper containing the requirements you are to fulfill. In the list of general requirements for the passport interview are Local Government letter of identification; Birth certificate and age declaration; recent colour passport photographs; Guarantor’s form sworn to before a Commissioner of Oaths/Magistrate/High Court Judge and Parents’ letter of consent for minors’ under16 years. Other requirements are marriage certificate where applicable; and police report in case of a lost passport. You are told that for you to get the letter of identification from your local government that you will need to go back to your state and this will take a longer period and so, they have some people who can arrange that for you. Being told of the different hurdles you will need to overcome before getting the passport, you might be tempted to seek their assistance. As you decide against seeking their assistance, you might think you CO NTINUED O N PAGE 23


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Monday, May 12, 2014


Nigeria, not yet ripe for e-passport – applicant

New ECOWAS and standard Nigerian International Passport CON TINUED FR O M PAGE 22

are through with the touting, you are not, as you are confronted with bigger revelation from the Immigration officers. Immigration touts also in Passport offices At the gate, the Immigration guards ask where you are going and what you need. There are usually more than 10 officers at the gate screening people going into the office. One of the officers asks: “What do you want?” Sir, I want to get information on how to get the international passport. The next question from the officer is if you have somebody who is going to assist you and if you answer in the negative, he offers to be your consultant. He reels out the requirements you will need to get before logging into the official website of the NIS. The officer tells you how long it will take you to get your photograph snapped and get it processed if you decide to follow the official route, but with proper negotiation, you can get it under 48 hours if you pay as little as N15,000 to N18,000. He follows you into the large compound housing the Passport office, asking you to take a seat at the applicants’ waiting area. At the designated area, there are hundreds of applicants waiting to be called for photograph snapping. As you wait eagerly for the officer to

come back, you discover that it is not just the officer ‘’helping’’ you that is involved in the deal but other officers of the service. Phone conversations like “Oga, I am outside waiting,” “Where are you?” and “I can’t see you”, are what you are confronted with while sitting at the waiting areas as the applicants. Those who have paid some Immigration officers want to let them know they are around and the officers too coming around the area to meet the applicants. So, it is not uncommon to see officers clutching applicants’ files and intermittently coming into the waiting areas to call their client(s). Those called follow the officers inside the room for photograph-capturing, which is the major and most difficult aspect of the international passport processing. Majority of the applicants, who pleaded for anonymity, said they paid officers of the service to make the process easy for them as experience had shown that they could be on the waiting list for weeks if they decide to go online to fill the forms and wait to be called for the processing. One applicant, who does not want her name in print, told New Telegraph that “some people have to wait for two weeks or more before their passports are available for collection. Sometimes some people waited so long that they eventually gave up! It is a harrowing experience to wait for weeks.” Yet, the experience of Bridget Ema-

sun, an Edo State indigene, was different. She was swindled of N15,000 by the touts. She now wants both the government and the Immigration officials to rid the passport offices of them. Emasun, a professional chorographer went to the passport office at FESTAC Town, to secure passport to travel for a musical performance abroad. “I was introduced to a young man outside the gate of the passport office and after our discussion I gave him N10,000 to process a passport. He later called to say that he needed another N5,000 to enable him collect some documents for processing of the passport. He assured me that the documents would be ready in one week. But the one week has now turned to two months. I’m here to look for him as well as start the process all over,” Emasun told this report. The story of Faith Osahun is no different. She travelled from Benin City to Lagos to secure international passport. She said the NIS officials have been defrauding Nigerians by manipulating computers to create the impression that the cyber services used for the process was down. “They tell you that if you want your forms to be processed speedily, you have to part with some money. They tell you to meet some other people, who wait outside the office, ready to ‘offer assistance’. When you meet these people, they tell you that they have been helping many others and

assure that you will even pay less but acquire your passport earlier. This is what pushes many applicants to deal with the touts,” Osahun said. Entire job left to the tout Another passport applicant, Chris Johnson, is worried that at the Ikeja passport office, the entire job seems to have been left to the touts. He told New Telegraph at the premises of Ikeja passport office that “when I came here, I was accosted by some people at the gate. I ignored them because I felt that since passport is now processed online, there was no need for anybody to assist me. I went to the bank, paid the money and was asked to go to some of those people outside for it to be uploaded. I did that and my receipt and acknowledgement were printed out for me. But that was the beginning of this nightmare that has lasted for almost three weeks now. I brought the forms to the officials and was asked to get a file so I could begin the process. I did and only completed that about a week later. I was later asked to come back today (March 10). I have been here since morning. It is 4 p.m. now. I’m sure it will no longer be done today,” he said. Johnson said the government should have left the process the way it was because Nigeria, according to him, is not CO NTINUED O N PAGE 24


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Monday, May 12, 2014

‘Passport acquisition isn’t always painful experience’ CON TINUED FR O M PAGE 23

yet ripe for e-passport. “Look at the number of people that are here, men, women and children. Why should it be so difficult to get Nigerian passport here in the country? It was better the way it was as anyone that was not willing to engage the services of touts was able to process the document and receive it within a reasonable time,” he said. He, however, said he was not sure that anyone could obtain the Nigerian passport now without engaging the services of touts. There have also been reports of missing files, especially at the Ikoyi passport office. One of the applicants, who gave his name as Emmanuela Aigbe, said her file was reported missing by the officials. The file was reported missing after two weeks she started processing the international passport. She bought another scratch card and filled a new form. This meant she paid the passport fees twice. Another victim of missing file, Nkiru Abam, was quite lucky as a Passport Control Officer (PCO) gave her note to another officer, who assisted her retrieve information on the missing file. New data were recovered from the system, though, not without parting with some naira notes. Maxwell Collins, an unemployed graduate, who has been trying to procure the e-passport for about one month now, believes that the new passport ought to be faster to procure than the old one since it is processed with latest technology. He is disappointed that the reverse is the case. “I have applied for more than one month now but have not been attended to. Some applicants, who know one or two officials, get it faster than others,” he said. Collins says there is need to open more passport offices across the nation. He says three passport centres in Lagos was not enough for the state. IT infrastructure and trained manpower needed He equally believes that the country should have enough IT infrastructure and trained manpower in passport offices to take care of the large number of applicants. “Many of the NIS officials are just there doing little or nothing, and at the end, they get paid, while government should move in to salvage the situation,” Collins said. However, Suleiman Abbas Ahmed, former Comptroller of Immigration, Lagos State Command had, in 2010 placed notices around the three passports office premises warning applicants not to deal with touts. “We will continue to carry out periodic raids in the premises to ensure that only those that have legitimate business are seen there while at the same time, educate applicants on the grave danger of giving their personal data to someone they don’t know who can use such data for mischievous purposes,” he had promised. He, nonetheless, admitted that the major challenge was that applicants


Cyber processing room

usually do not want to come to the passport office on the interview date. “Once they have filled their application forms online, they head to the passport office and demand to have their passports same day. Some of them even attempt to entice officers with money,” Ahmed revealed. CG admitted present of touts in Passport offices Incidentally, the Comptroller-General, David Parradang, admitted the presence of touts in passport offices when he visited the three offices in Lagos shortly after assuming office in June 2013. He had warned officers to be wary of touts and shun corruption, stressing that those involved in such sharp practices would not only be disciplined but would be denied promotion. Parradang, who visited the passport offices at FESTAC, Ikoyi and Alausa in Ikeja areas of the state, insisted that touts, must be expelled completely from the system. “We are not satisfied with what we hear about passport offices. There are very few people that are spoiling this job. Try to be as transparent as possible. We are not running a secret society. Do not give our work to touts. Do not patronise touts. I do not want to hear anything about touts. No form of extortion will be accepted. I will never entertain touts here,” he had warned. In spite of this initiative and promise of performance, however, New Telegraph discovered that applicants for the Nigerian passport still go through the ever surging touts, which the new passport aimed at eliminating. Indeed, the implementation of the new passport has also been causing some ripples given the snail speed that has characterised the processing of the supposed chip-based e-passport software. It has, in several instances, left many applicants with bitter experiences. But, passport acquisition is not all about hardship, stress and woes. A civil servant with one of the ministries in

Ikoyi Passport office, Lagos

Abuja, Augusta Nmakwe, got her passport easily. She procured her passport from Abuja office. Nmakwe admitted, though, that touts are seen in the Abuja passport office, just like in Lagos, negotiating with willing applicants. Former President Olusegun Obasanjo at the launch of the e-passport shortly before leaving office on May 18, 2007 said, “Nigeria Immigration is now meeting international standard in outlook and service delivery.” Obasanjo had raised the hope of many Nigerians when he said the e-passport would tackle the many problems associ-

ated with the type that had been in use before. The former president said the idea of the e-passport was decided in the Economic Community of West African States (ECOWAS), while it was unanimously agreed that countries in the sub-region should have a common passport. The passport, Obasanjo said, was designed with some element of uniformity, having a sign and motto of ECOWAS on the one side and symbol of the owner’s country on the other. Incidentally, however, most of the problems the e-passport meant to solve have remained evident today.

BUSINESS Sanctity of Truth

Monday, May 12, 2014

MONDAY, MAY 12, 2014

WHAT'S NEWS NRC’s imported tank wagons idle away in Lagos Pressurised petroleum tank wagons imported by the Nigerian Railway Corporation (NRC) are rusting away in its yard at Ebute Metta in Lagos.


Nigeria’s power supply deficit hits 166, 400 MW The power supply deficit in Nigeria is now 166, 400 Mega Watts (MW), New Telegraph has learnt. Besides, power generation in Nigeria has never exceeded 4500MW.


Ghana accuses Nigeria of economic bullying A report by Lagos-based economic analyst, Mr. Bismarck Rewane of Financial Derivatives Company Limited, has faulted the recent Gross Domestic Product (GDP) rebasing by the Federal Government, saying that diaspora inflows into the economy were not included.


8, 000 manpower shortages hit oil sector –PTDF About 80 per cent of engineering and geo-science graduates trained by the Petroleum Development Trust Fund (PTDF) scheme are unemployed, Executive Secretary of the Fund, Dr. Oluwole Oluleye has said.


BUSINESS CREW AYODELE AMINU, Deputy Editor (Business) SIMEON OGOEGBULEM, Dep. Business Editor BAYO AKOMOLAFE, Asst. Editor (Maritime) SUNDAY OJEME, Asst. Editor (Insurance) SIAKA MOMOH, Asst. Editor (Industry/Agric) JONAH IBOMA, ICT Editor DAYO ADEYEMI, Property Editor ADEOLA YUSUF, Energy Editor

RIFT The battle line is drawn between telecom operators and value added services firms

BA DOMINATES Sixty per cent of the traffic to the UK is shared disproportionately between BA and Virgin Atlantic Wole Shadare


he increase in passenger traffic has led to huge scramble for Nigerian aviation market by foreign airlines operating to Nigeria. Consequently, international flights out of Lagos are showing strong load factor. Direct flights to the United States are reporting 75 per cent load factor in economy class




Telecom operators, wireless service providers clash

L-R: Group Head, Retail Loans, Sterling Bank plc. Kike Kuponiyi, Executive Director, Sterling Bank plc, Abubakar Suleiman and Chief Executive Officer, Carlisle Nigeria Limited, Shade Animashaun, at the Small and Medium Enterprises (SME) seminar organised by Sterling Bank in Lagos.

include bank account balances, music downloads and news headlines. Coordinating Consultant of the Wireless Application Service Providers Association of Nigeria, (WASPAN) Mr. Simon Aderinola, confirmed the existence of unresolved issues between telecoms operators and WASPs on spam messages, although, he said that they were being addressed. “Some GSM firms have been warning all WASPs connected to them, not just WASPAN

members. There is an assumption that spam always comes from WASPs. I don’t know of other WASPs, but WASPAN is engaging the networks to solve this problem, as both sides have some work to do,” he said. Investigation however, reveal that a major reason for the current problem is due to the fact that there is no clear definition of what spam messages are and this is making both operators and WASPs to agree on the type of messages to be stopped from reaching

subscribers. “What constitutes a spam message? NCC has not clearly defined this, so, operators and WASPs are sometimes at a loss and this informed the current misunderstanding,” a source at WASPAN told this newspaper. Spam messages are often defined as unsolicited. But certain categories of messages such as traffic report or CONTINUED ON PAGE 26

Foreign airlines scramble for Nigeria’s aviation market and 50 per cent in the premium cabin with Delta Airlines being the leading carrier to the US direct route, followed by United Airlines to Houston and Arik, a distant third. These were contained in a monthly economic news and view report by Bismark Rewane, Chief Executive Officer of Financial Derivate Company Limited, made available to New Telegraph. According to the firm, 60 per cent of the traffic to the United Kingdom is shared disproportionately between British Air-

ways and Virgin Atlantic Airways. While BA is a dominant carrier with over 40 per cent of the traffic, the other carriers who have stop-overs are sharing the balance of 40 per cent, with Lufthansa, Air France and Emirates as strong contenders. Rewane noted that the appreciating naira in the foreign exchange market has helped naira tickets cheaper, stressing that the booking profile for May shows a lower load factor than April (Easter spike), with Lagos about to see its relevance decline

According to him, “Emirates are commencing daily flights from Abuja to Dubai, three times via Kano. Kenya Airways are also starting Abuja-Nairobi daily, going into a head-to head against Ethiopian airlines. Capacity has increased with African world airlines operating thrice daily on the Lagos-Accra route. This is in addition to the two flights by Arik and two by Aero Contractors Airlines”. He puts total flights between Lagos and Accra at 50 per cent CONTINUED ON PAGE 26

Rates Dashboard

DELE ALAO, Brands/Marketing Editor ABDULWAHAB ISA, Finance Editor



silent war is currently brewing between mobile network operators and wireless application service providers (WASPs), otherwise known as value added services (VAS) companies, over increasing number of unsolicited (spam) messages sent to mobile phone subscribers. Investigations by New Telegraph showed that the duo are trading blames over how to curtail the trend due to a recent directive by the Nigerian Communications Commission (NCC) to operators to find ways to curtail unsolicited messages sent to mobile phone subscribers. Sources say that in order to address the problem, mobile operators, particularly GSM companies, have written to WASPs warning them to stop sending such messages from their platforms to subscribers. However, the WASPs have also replied that such messages do not always emanate from them. Normally, WASPs are connected to mobile phone networks in order to allow them render certain services to subscribers and the revenue from such services is shared on agreed terms by both parties. Some common services rendered by VAS companies

WOLE SHADARE, Aviation Editor CHRIS UGWU, Capital Market Editor


INFLATION RATE March 2014...........................7.8% February 2014........................7.70% January 2014 ........................8.00%

LENDING RATE InterBank Rate . . . . . . . . . 10.50% Prime Lending Rate. . . . . 16.93% Maximum Lending Rate..25.83%


(Parellel As at May 9)

USD . . . . . . . . . . . . . . . . . . . N167.00 Pounds . . . . . . . . . . . . . . . . . . N284 Euro . . . . . . . . . . . . . . . . . . . . . N234


(Official As at May 9)

USD . . . . . . . . . . . . . . . . . . . N155.73 Pounds . . . . . . . . . . . . . . . N262.70 Euro . . . . . . . . . . . . . . . . . . N215.88 Source: CBN

26 BUSINESS | NEWS WASTE Twenty pressurised tank wagons are wasting away at the Nigerian Railway Corporation yard Bayo Akomolafe


ressurised petroleum tank wagons imported by the Nigerian Railway Corporation (NRC) are rusting away in its yard at Ebute Metta in Lagos. The first batch of the oil tank wagons was imported in February 2012.

Sanctity of Truth

Monday, May 12, 2014

NRC’s imported tank wagons idle away in Lagos

The corporation took delivery of another batch of 20 last year, to lift fuel from tank farms in Apapa to the northern part of the country. China Railway Shanhaiguan Bridge Group and Westgate Project Limited specially manufactured the tankers for NRC. The testing and inauguration of the equipment and

training of NRC engineers on the use and maintenance cost N650 million. It was learnt that the corporation entered into an agreement with some tank farm operators to build petroleum tank farms on its sidelines. A source at the corporation revealed that after the tank farms operators took

the built the fuel tanks, they refused to use the wagons. The source said that some of them have acquired trucks to lift their products directly. The procurement contract for the tank wagons comprised manufacture and delivery together with spare parts and a one-year worth of consumables. The tank wagons were

procured by NRC primarily to enhance the movement of petroleum products across the country by rail and were specifically designed and manufactured for the existing narrow gauge rail system. Each of the tank wagons has the capacity to lift 45,000 liters of product, unlike the normal road tankers that has 33,000 liters capacity.

Heineken to invest $690m in Africa


L-R: Group Managing Director, Explicit Communications, PAN Nigeria Limited, Tunde Thani; Managing Director, Ibrahim Boyi and Managing Director, BKG Exhibitions Ltd, Ifeanyichukwu Agwu , at the 9th Lagos Motor Fair and Third Autoparts Expo Nigeria, at the Federal Palace Hotel, Victoria Island, Lagos.

SURGE Power output from the national grid increased in April Adeola Yusuf



he power supply deficit in Nigeria is now 166,400 Mega Watts (MW), New Telegraph has learnt. Besides, power generation in Nigeria has never exceeded 4500MW. Financial Derivative Company (FDC), a Lagos-based economic and financial advisory firm managed by frontline Economist, Bismark Rewane, disclosed these in its monthly economic report for May. “Using the Rule of Thumb, which shows that 1,000MW is for 1,000,000 people, therefore 170,000MW for Nigeria’s population of 170million people. “With the recent peak in power generation and supply to 3,600 MW in May, it shows that we still have a gap of 166,400MW,” the report said. It, however, noted that power output from the national grid increased during the month of April to an average of 3,600MW from a low of 2,150MW in March. Basic issues still being addressed, according to the report, are that shortfall in Infrastructure is discouraging, theft and bribery, which remain rampant and assets and revenues falling short. Other challenges in the sector according to the report, in-

Nigeria’s power supply deficit hits 166,400 MW clude: bulk of revenues used for to debt service, operators struggling to break even, further discouraging capital investments, likely tariff increases and increasing cost of gas amongst cost drivers. Meanwhile, the Nigerian Electricity Regulatory Commission, (NERC), has clarified why industries and homes in the country are still having acute power shortage more than six months after government handed over to new investors in the power sector. Dr. Sam Amadi, Chairman of the Commission, while addressing the business community under the aegis of the Nigerian-Danish Chamber of Commerce, Industry and Agriculture, said that things were not going as envisaged but that radical steps were being taken to address the situation. “November 1 last year to April 30th is just about six months and it is a very little time for an industry that is so finance – sapping and structurally- chained to have achieved much,” he said. He blamed the slow turnaround on vandalisation of power infrastructure across the country, specifically those targeted at disrupting gas flow

to various power stations. Represented by Dr. Uche Okoro, Special Assistant Research and Strategy, NERC, he said that poor choice of location of some National Integrated Power Projects (NIPPs) and the fact that the new investors were not able to do the required six months’ shadow trading prior to taking over from the government contributed to the problems. He added that the investors were not well acquainted with baseline losses, baseline demand and baseline gas supplies in their various jurisdictions due to labour stand-offs with government. “One thing that is sure is that Nigeria needs electricity to power its industrialisation and when we get it right, economies of scale tell us that all the smaller countries around us are going to source electricity from us because they cannot produce,” he said. Nigerian and Danish investors at the event were of the notion that the recent reform in the power sector has not made any significant progress in rectifying the acute shortage of power to industries and service providers in Nigeria prior to the sector’s recent reform.

eineken (HEIN.AS) plans capital expenditure of 500 million euros ($690 million) a year in Africa over the next few years to maintain sales growth, a senior executive at the world's third largest brewer told Reuters last Friday. The money will be used to upgrade production facilities and on training, said Siep Hiemstra, Heineken's president for Africa and Middle East. Africa accounts for onefifth of Heineken's business and is growing fast, he said. "We are strong believers in the growth of Africa, the economies of Africa, the consumer base and the middle class. We continue to invest heavily.... We continuously invest about 500 million euros annually and try to be ahead of the growth curve,"

said Hiemstra. He was speaking on the sidelines of a World Economic Forum held in Abuja. Nigeria has annual beer sales of around 18 million hectolitres, second only to South Africa on the continent. Heineken has around a 70 per cent market share in Nigeria, with Diageo's (DGE.L) Guinness (GUINNES.LG) accounting for over 20 per cent. Heineken had 56 plants in 20 African countries, and Hiemstra said it was weighing acquisitions. Heineken said last Friday that it would merge its majority owned Nigerian subsidiary Nigerian Breweries Plc (NB. LG) with its rival Consolidated Breweries, which it recently acquired.

Foreign airlines scramble for Nigeria’s aviation market C O N T I N U E D F R O M PA G E 2 5

per week, with Abidjan-Lagos route as another preferred route by passengers.The expert however. noted that the route is currently under-served, with a tit for tat war between Air Ivoire and Arik. Rewane equally took a swipe at the Federal Airports Authority of Nigeria (FAAN) on its newly constructed car park, stressing that airport users and passengers are taken closer to the terminal building in shuttle buses, which to him, results in heavy traffic on the ramp at the

airport, leading to distortion of security procedures. The situation, according to him, has led to unauthorised personnel to gain access to otherwise restricted areas of the airport. “The new airport car park arrangement in Lagos is a recipe for chaos. The part implementation has led to confusion already. Hiding under the guise of security, FAAN has already awarded a second hotel concession at the present car park. This was well before the bombs and FAAN is now using the security situation as an excuse.”

Telecom operators, wireless service providers clash C O N T I N U E D F R O M PA G E 2 5

information on emergencies or health tips, although unsolicited, are often not regarded as spam messages. But the problem of unsolicited mails is not the only issue that has put WASPs and network operators at loggerheads. In recent times, WASPs and some mobile operators have been haggling over revenue share. The crux of the matter has been that WASPs sometimes find it very hard to get their own part of valued

added services revenues, which are collected from the networks. Aside that, the consistent push by mobile operators that revenue sharing formula should be increased significantly in their favour, has made WASPs to approach NCC over how to regulate the sub-sector in the telecommunications industry effectively. The issue of spam messages could therefore be another matter that would have to be resolved by the industry regulator.


Sanctity of Truth

Monday, May 12, 2014

INFRASTRUCTURE GAP This is hindering development and raising unemployment Sunday Ojeme


report by Lagos-based economic analyst, Mr. Bismarck Rewane of Financial Derivatives Company Limited, has faulted the recent Gross Domestic Product (GDP) rebasing by the Federal Government, saying that diaspora inflows into the economy were not included. The May report made avail-

Diaspora flows not captured in rebased figures –FDC able to New Telegraph picked holes in the increased infrastructure gap that is hindering development and also boosting unemployment. Nigeria rebased her GDP early last month, which increased from $258,555.58 to $509.9 billion, making the country to beat South Africa to become the biggest economy in Africa.

While reenacting some of the GDP figures with oil adding up to 11.55 per cent, revenue at 60 per cent, telecommunications 10 per cent and financial services at 3.3 per cent, Rewane, who denounced the Diaspora flows oversight, put that of India at 10 per cent. He pointed out that major GDP growth drivers were not job creating sectors, adding

that in Africa, government and social services created more jobs than labour intensive sectors such as, manufacturing, resources and utilities, finance and business services, and construction. The expert observed that education and financial sector accounted for over 60 per cent of jobs in Nigeria. He said: “Education ac-

Chinese investors boost Nigeria’s housing sector with $4bn Dayo Ayeyemi


hinese investors have offered loans totalling US$4billin to boost to the Nigeria’s housing infrastructure. The investors made the commitment at the just concluded World Economic Forum for Africa held in Abuja. According to the report from FBN Capital, a research and investment company, the investors asked for a sovereign guarantee of the loans. It is the Federal Government that guarantees the external borrowings for the state governments. However, it is generally cautious in giving loan guarantees. According to the report, given the FMBN’s track record of disbursement, it is clear that the firepower of the Chinese investors has the potential to make a significant impact. FMBN has supplied mass housing and offered low-cost loans of up to N15million directly through the National Housing Fund (NHF). The bank under a new management team, which was installed in December 2010, the report said, had tightened up collections and disbursed N119billion (US$740 million) to date. Industry estimates suggest that about 100,000 new houses are built each year, compared with demand of 700,000. Over the years, the bank has delivered 35,400 units. The bank is not the only public agency in the field as President Goodluck Jonathan, last January, launched the Nigeria Mortgage Refinance Company. The report from FBN capital said the institutional investors had contributed N6.75billion in start-up capital as at March 2014, adding that the FGN would issue a N50billion bond for the company while the World Bank would provide US$300million. According to the report, the official focus on housing has employment implications, while it estimated that 5.2 direct jobs can be generated from each new home, as well as 2.48 indirect jobs from housing related expenditures.


R-L: Company Secretary, Custodian and Allied Plc, Mr. Yinka Jafojo; Chairman, Chief Micheal Ade-Ojo and Director, Mr. Wole Oshin, during the 19th Annual General Meetining of the company in Lagos.

counts for 1.53 per cent of GDP, financial services 3.3 per cent of GDP. This indicates productivity gap and high unemployment rate. Higher GDP per capita translates to increase in population under poverty line. Inequality remains high, youth unemployment also high and median age of population in Nigeria: 14 years. “Rebased numbers indicate need for bridging the infrastructure gap. Policy reforms to drive and encourage investments in labour and financial intensive sectors, agriculture, construction, mining, transportation and real estate.” While reminding those in authority of the need to bridge the infrastructure gap, he said that China increased spending on infrastructure to 10 per cent of GDP to boost investment and domestic consumption. He added that increase in infrastructure development has an indirect impact on demand for electricity, housing, transportation and sanitation, stressing that it would lead to high investment and economic growth. The report also touched on the next Monetary Policy Committee (MPC) meeting being the last to be chaired by the acting Governor of the Central bank of Nigeria, Mrs Sarah Alade. Rewane said that the apex bank boss towed the same “defend the naira at all costs” line as her predecessor with her choices and options being hard and narrow and tenor too short for major impact.

Ghana accuses Nigeria of economic bullying FACE-OFF Nigeria accuses Ghana of indiscrinate practices.

Siaka Momoh


resident John Mahama of Ghana has accused Nigeria of economic bullying of the 14 Economic Community of West African States (ECOWAS) members. Financial Derivative Company (FDC), a Lagos-based economic and financial advisory firm managed by frontline Economist, Bismark Rewane, in its monthly economic report for May, said President Mahama has accused Nigeria of bypassing the ETLS (ECOWAS Trade Liberalisation Scheme) by using trade prohibitions and refusing to implement the CET (Common External Tariff) effectively. Nigeria in turn, has accused Ghana of discriminatory practices including

$300,000.00 capital requirements for traders (Nigerians). Fourty Nigerians businesses were closed in one weekend in February 2013. In 2008, Nigerian imports and exports from ECOWAS were 3.37 per cent and 7.25 per cent of Nigeria totals. In 2013 these according to the report, had declined to 1.38 per cent of total trade for imports and 5.47 per cent for exports. With CET, the Nigeria Custom Service came out with a new regime, five per cent duty is applicable for 2,146 tariff lines under the basic raw materials and capital goods category; 10 per cent for the 1,373 tariff lines that qualify as intermediate products category; while 20 per cent duty is reserved for the 2,165 tariff lines under final consumer products. Some 5,899-tariff lines according to the report, are covered under the new tariff regime with the rate ranging between zero and 35 per cent for the 130 tariff lines that fall into the category of specific goods that contribute to the promotion of the region’s

economic development. The CET is a forerunner to a regional customs union, which is predicated on the harmonisation and convergence of national fiscal, monetary and trade policies of member states for the attainment of economic integration by the 15-nation economic community with a combined population of more than 300 million people. To enhance the economic integration process in West Africa, the Authority of ECOWAS Heads of State and Government met in Extraordinary Session in Dakar, Republic of Senegal in October 2013 and agreed on the creation of a 1.5 per cent community integration levy, whose scope and operationalisation would be the subjects of further regional reflection, as part of the mechanisms to enable the regions cope with the challenges of implementation of the new tariff regime. CET has its up and down sides. On the up side is that CET will increase turnover due to a larger domestic market; enlargement of mem-

ber states industrial sector through higher economics of scale; higher production and productivity; higher capital accumulation and strengthening of national institutions through peer learning among members. Its shortcomings are loss of national trade policy, sovereignty to regional institutional arrangements; loss of lobbying ability by the producers and workers; low level of tariff, which can lead to dumping and de-industrialisation and loss of government revenue coming from tariff. Nigeria has thus been very careful about throwing its weight fully behind this policy and this is why she is drawing the ire of Ghana and its likes in the sub-region. The CET issue is closely related to the Economic Partnership Agreements (EPAs) issue. Economic Partnership Agreements are a scheme to create a free trade area between the European Union and the African, Caribbean and Pacific Group of States (ACP).



Monday, M

Why equipment manufacturers shun Port Harcourt refinery –NNPC GMD Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu, an engineer, speaks in a no-hold-bar interview with newsmen on the state of Nigeria’s four refineries and many other sundry issues in oil and gas industry at the just-concluded Offshore Technology Conference (OTC) in Houston, Texas, United States of America. ENERGY EDITOR, Adeola Yusuf was there. Excerpts

Nigeria has been a loyal participant at the OTC, what has the country benefitted so far? From what you have seen in terms of showcasing the gains of Nigeria’s outing in the various OTCs, you will see clearly here the levels of expertise that our indigenous companies have acquired. Today, they are able to participate in virtually all the entire spectrum of the oil and gas services; drilling to well testing, and various sub-surface diving services, subsea maintenance. These are expertise that were purely resident outside the country in the past but from the fallout of our outings, you can see clearly that there has been very good acquisition of technologies that has enabled our indigenous players to do these things back home without necessarily importing these expertise from outside the country. So, it has been a very good gain to Nigeria that we have been participating since the inception of OTC in this regard. OTC is a forum for foreign investors to invest in Nigeria’s oil and gas sector but with the PIB pending, what are the chances of getting these investors? Before the PIB, we had quite a number


of enabling laws that were governing the industry and within the provisions of these laws we have been able to acquire these. The essence of the PIB is to further enhance and create a much better environment for the industry. It is certainly going to add value when it comes but before then, we have to make do with what we have. The gas master plan and its fiscal regime are still in the PIB and there is a mandate for improved gas-to-power, how are you dealing with this? The essence of the PIB was to improve on government take on quite a number of the various fiscal provisions, but before then, within the current fiscal regime, we have had significant jump in gas supply investment. You know, in the gas master plan, there was the domestic gas supply obligation which IOCs and indigenous players entered into to deliver gas and Mr. President has done tremendously well by giving us his full backing and that is what gave us the significant jump. Between when Mr. President came in, we were producing just about 300mscuf per day and within the current fiscal

A lot has happened in the Port Harcourt turnaround maintenance initiative and orders have been placed for virtually all the long lead items that are required for that and we will soon receive deliveries regime, we have been able to move to 1500mscuf per day, this, by any global standard, is impressive and we also intend to continue to build on that. Today, NNPC is the largest producer of gas for domestic use; we produce over 400mscuf per day and plans are underway by the end of the year to also jack that up by another 250mscuf per day; there is a lot going on in terms of gas supply investment and particularly gas-to-power investment which is a very key compo-

nent of Mr. President’s transformation agenda and our minister of petroleum resources has been very aggressive in driving us so hard and I can assure you that we will exceed where we are today because we were 300 just five years ago but today, we are 1,500, this gradient by any global standard is very impressive. How then do you secure the pipelines for the power sector to get enough gas? The link was actually weak before but because of tremendous efforts and backing of government, we have been able to tie a number of the knots and the links are getting stronger and I can assure you that one of the major challenges that we have had was the commercial framework; gas is capital intensive, if you put in so much but cannot break even to recover your costs, then you can see why people have been reluctant to go into it. But commercial framework has been put in place and gas price is one major factor in gas investment today because gas investment is price driven and we have a good framework now than what we had before. We are not there yet, no, not yet, but we are working with all the relevant agencies to


of Truth

May 12, 2014

BIODATA Current post: Group Managing Director, NNPC Previous job: Group Executive Director, Exploration and Production at Warri Refining & Petrochemical Company. Managing Director at Petrochemicals Company. General Manager, Materials Management at NAPIMS; Director at NNPC, Plant/Chief Operator and Refinery Superintendent at NNPC Education: Ahmadu Bello University, Zaria Degree: Chemical Engineering. International Petroleum Development Course by IHRD Boston, USA.

There is a lot going on in terms of gas supply investment and particularly gas-to-power investment, which is a very key component of Mr. President’s transformation agenda itself. You are aware that we had scheduled turnaround maintenance for Port Harcourt. For instance, a lot has happened in the Port Harcourt turnaround maintenance initiative and orders have been placed for virtually all the long lead items that are required for that and we will soon receive deliveries. We are also having challenges with the Original Equipment Manufacturers (OEMs). Remember that the major thrust was to invite them to come into the country to do this, but unfortunately we had challenges. Port Harcourt, for instance, was built by Japan Gasoline Corporation (JGC) and JGC had a challenge of coming to Nigeria and we had quite some other fall back arrangements with their partners and so that constituted a setback, but we are still talking to them and getting the numbers. By the way, you know that we must also be happy that the numbers are good enough to back up the turnaround initiative. We don’t have to do it at all costs and what we are simply saying is that if the price does not meet with the payoff, then other strategies can be explored, we are still on them; and on that, we have been able to meet with the alternative venensure that the right environment is there. dor that the OEM has introduced, a lot of work is going on, but before then, we Update on refineries turnaround maintenance cannot just sit back and wait, we know Turnaround maintenance is not a cer- where these equipment are and we have emonial snapshot, it is our duty, on the gone ahead to place orders directly. annual basis, to maintain and operate our plants. The turnaround maintenance is ac- On vandalisation of gas pipelines tually scheduled for certain interventions Majorly, it started with attacks on the that will require total shutdown of the plant oil and gas facilities purely for the sake of stealing the products, but unfortunately, the gas pipelines that were never areas of attack came and the experience was that Escravos-Lagos-Warri pipeline was attacked last year and that was clearly Port Harcourt, for instance, a case of sabotage because there was no way you could steal gas. was built by Japan Gasoline We have engaged the security agencies Corporation (JGC) and and the state governments and relevant stakeholders are fully involved and after JGC had a challenge of we fixed the last damage and so far we coming to Nigeria and we have not had any threats yet and we believe that stakeholders’ intervention is had quite some other fall working and will continue to work. back arrangements with Supply has resumed many months ago and we have full supply now to Escravostheir partners and so that Lagos line and we also have some of our constituted a setback, but projects that were hitherto stalled by this coming on stream and we are going to we are still talking to them ramp up production to meet the domestic and getting the numbers gas requirement.




Sanctity of Truth

Monday, May 12, 2014

8, 000 manpower shortages hit oil sector –PTDF REDUNDANCY Eighty per cent of engineering and geoscience graduates trained under the Petroleum Development Trust Fund are unemployed Adeola Yusuf



bout 80 per cent of engineering and geo-science graduates trained by the Petroleum Trust Development Fund (PTDF) scheme are unemployed, Executive Secretary of the Fund, Dr. Oluwole Oluleye has said. Oluleye, who said this on the sideline of the Offshore Technology Conference (OTC) in Houston, Texas, expressed worries over the dearth of

semi-skilled manpower in the Nigeria’s oil and gas industry. He noted that 8,000 manpower shortages had already hit the welding subdivision for the booming Floating, Production, Storage and Offloading (FPSO) in Nigeria. To fill these gaps, the PTDF boss maintained that his Fund has began collaboration with many government and private agencies. The Federal Polytechnic of Oil and gas Ekowe, Bayelsa state, which is part of the government efforts to mitigate effects of shortage of semi-skilled workforce is billed to be commissioned in the August. “This Polytechnic will be commissioned in the next three months,” he said while fielding questions from newsmen. “There is a growing Nigerian Independent Exploration and Production (E&P). With this, 80 per cent engineering and geoscience graduates are unemployed but efforts are on to en-

NPA takes delivery of largest container vessel this week JUMBO The biggest vessel to berth in Nigeria arrives on Wednesday with 4,500 containers


he Nigerian Ports Authority (NPA) is to take delivery of a WAFMAX vessel with a capacity of 4,500 Twenty Equivalent Units (TEUs). It will be the biggest vessel that has ever called at Onne Port in River State. The West African Maximum, which is referred to as WAFMAX, is a jumbo container vessels. Managing Director of the authority, Alhaji Habib Abdullahi, said in Lagos that the coming of the vessel could be attributed to the dredging carried out by the

past management. He noted that Nigerian navigational channels are now safe and had started attracting bigger vessels, which have not been coming to the nation’s seaports. Abdullahi said: “The benefits derivable from the economies of scale in the deployment of the vessel to Nigeria is a prelude to the attainment of hub status, which is consistent with the transformation agenda of Mr President. He said that preparations are in top gear to receive the vessel and ensure that its calling was safely handled. “It is a fulfillment of its commitment to Nigerian customers that Maersl Line, operated by AP Moller Terminal (APMT), is bringing its WAFMAX vessel to call at Onne Port on Wednesday May 14, 2014,” he said.

Major GDP growth drivers not job creating sectors Siaka Momoh


n Africa, government and social services create more jobs than labour intensive sectors such as manufacturing, resources and utilities, finance and business services and construction, Bismark Rewane, CEO Financial Derivatives Company Limited, said at the recent Lagos Business School Breakfast meeting for the month of May. 2014. Rewane explained that education and financial sectors account for over 60 per cent of jobs in Nigeria and for 1.53 per cent of GDP and financial services 3.3 per cent of GDP.

This, he said, indicates productivity gap and high unemployment rate. “Higher GDP per capita translates to increase in population under poverty line, inequality remains high, youth unemployment also high and median age of population in Nigeria: 14years,” he said. Regarding the recently rebased Nigeria’s GDP, he said that rebased number indicates need for bridging the infrastructure gap, policy reforms to drive and encourage investments in labour and financial intensive sectors, agriculture, construction, mining, transportation, and real estate.

gage these vibrant young men through various programmes of the PTDF,” he stressed. The PTDF boss said that on the job training is very important to ensure experience and employees for job created through partnership. “There is 8, 000 manpower shortage in welding. This shows a critical

dearth of welders to undertake the on-going construction of FPSO. “We have about 16 universities that we are working on,” he said, projecting that in 1012 years, the Fund would have achieved tremendous achievements in this regard. “We are also training about

20 Pilots in South Africa. We have agreements with New Castle University, a University in France and several others on the training the trainers programme of the Fund. We will continue to do business with the International Oil Companies (IOCs) and we also expect some things in returns,” he said.

L-R: Chief Operating Officer, Spectranet Limited, Mr. Atul Ojha; Head, Sales and Marketing, Mr. Yogendra Sonawane, and Marketing Manager, Mr. Samson Akejelu, after the launch of the Telecom Operator's 'Pay Lite Download Heavy' plans for subscribers in Lagos

Caverton is first oil services firm to list on NSE OFFSHORE EXPANSION

Caverton eyes continental aspiration


he calls on oil and telecoms companies to list on the Nigerian Stock Exchange (NSE) has received a boost with Caverton, one of the leading providers of marine, aviation and logistics services to local and international oil and gas companies in Nigeria, making history to become the first offshore support company to list on the Nigerian Stock Exchange (NSE). This move is seen as a major plus for the Federal Government policy of encouraging local capacity and ownership in the oil and gas sector. 
 Having met all NSE and other regulatory requirements, Caverton Offshore Support Group has been given approval to list by introduction on the main board of the Exchange. The company’s 3.35 billion shares, according to a statement, will be listed for trading at N9.50 per share. The listing is billed for 20 May, 2014. 
Caverton Offshore Support Group (Caverton) is the holding company of Caverton Helicopters and Caverton Marine Limited, two Nigerian companies that have within a short period grown dramatically to become industry leaders in the oil and gas aviation and marine sub-sectors, two highly technical and capital intensive areas previously dominated by

foreign firms. “We are extremely pleased as Caverton enters its next phase of growth as a listed company,” said Mr. Aderemi Makanjuola, chairman of the company. “Leveraging on our expertise and execution capabilities, we plan to embark immediately on fleet expansion and the development of new service areas in the offshore marine and aviation sectors.” “We are also keen on exploring entry into new markets,” he added. “We plan to create a balanced and diversified portfolio and we are pleased to have strong technical partners on board with us. This is in line with our strategy for sustainable growth and we are confident that the company will continue to achieve its growth aspirations while fostering indigenous participation in the Nigerian oil and gas industry."
 Strategic partnerships, highly skilled management and staff, investment in cutting-edge technology and facilities, and strong financial performance, have powered 
Caveton’s rising business profile. In the 2012 financial year, the company’s turnover rose 47.6 per cent to N16.132 billion, from N10.928 billion in 2011. Profit after tax and exceptional items jumped to N1.035 billion from N60.373 million in the previous year, an increase of 1,625per cent. Even though its operations predated the passage of the Local Content Act by many years, Caverton has been seen as the poster-child of indigenous capacity and ownership since 2010 when one of its subsid-

iaries, Caverton Helicopters, edged out long-established foreign operators to win a $648 million, multi-year contract from Shell Petroleum Development Company for the supply and operation of seven helicopters. Won after a rigorous competitive bidding process, it is on record as the biggest contract ever awarded by the oil multi-national to an indigenous company. The Shell contract opened the floodgate for Caverton, with more contracts pouring in from other oil majors such as Chevron, ExxonMobil, Total and Addax Petroleum. In 2013, the company commenced its first international operation after it won the contract to provide passenger transfer and pipeline surveillance services to the Cameroon Oil Transport Company (COTCO), a subsidiary of ExxonMobil. Caverton’s operations have also been significantly buoyed by the opportunities provided by government’s local content policy. Signed into law by President Goodluck Jonathan on 22 April 2010, the Nigerian Oil and Gas Industry Development Act stipulates that oil and gas companies must give the right of first refusal to competent indigenous companies in their award of contracts. On account of its massive investment in facilities and personnel, verified by the oil majors through audits conducted on the company and Caverton’s strict adherence to standards and safety, the company has been well positioned to benefit from this policy.


Sanctity of Truth

Monday, May 12, 2014


WEFA 2014: A success beyond measure Plc, Jim Ovia, Chairman of Stanbic IBTC, Peterside Atedo as well as former President of the Institute of the Chartered Accountants of Nigeria (ICAN), Emmanuel Ijewere, were all united that Nigeria should brace up for new investments that will further create more jobs. For Ijewere, most of the negotiation and ground works for investment inflow are carried out by private meetings by various delegates to the meetings. Atedo was upbeat that more investments are underway and that the investments will create more jobs for the army of unemployed Nigerian youths. In all, other participants from Nigeria expressed the view that WEFA will open more doors for Nigeria and indeed African businesses. According to them, as most of the delegates are coming to Nigeria for the first time, the WEFA will help Nigeria to be seen in the right light by the foreigners.

Simeon Ogoegbulem ABUJA


y now President Goodluck Jonathan and his inner cabinet would still be clicking their champagne glasses in celebration of the huge success of the World Economic Forum on Africa (WEFA). This is against the backdrop of renewed violence in some parts of the country especially the two bomb blasts that occurred in Nyanya, a less than 15 minutes drive from Transcorp Hilton, venue of the three-day meeting and the abduction of over 200 school girls in Chibok, Borno State, that sent cold shivers down the spines of both the Nigerian government and delegates to the WEFA. However, contrary to fears that most of the delegates will stay away from the conference, they poured in from across the globe. From China to India, Britain, Germany, the United States of America, Brazil, South Africa and Kenya to mention but a few, the delegates came in their numbers. At the final count, over 1,200 delegates paid their way to participate at the three-day meetings, which brought together all key players in different sectors of global economy. This number is exclusive of other resource persons, journalists, technical crew as well as other back room staff who worked behind the scene to ensure that the WEFA 2014 was a huge success. Roll call of delegates President Goodluck Jonathan lead a strong team of African delegations with a group of 11 other African Heads of state and government to attend the WEFA, which Nigeria hosted for the first time. The African countries whose presidents attended the event are Mohamed Larbi Ould Khelifa, President, People’s National Assembly of Algeria; Thomas Yayi Boni of Benin Republic, Daniel Kablan Duncan, Prime Minister of Côte d’Ivoire; and John Dramani Mahama of Ghana. Others are Uhuru Kenyatta, President of Kenya; Kolo Christophe Laurent Roger, Prime Minister of Madagascar; Paul Kagame, President of Rwanda; Macky Sall, President of Senegal; Jakaya M. Kikwete, President of Tanzania; and Faure Gnassingbé, President of Togo. The Chinese Premier, Li Keqiang, Premier of the People’s Republic of China; also lead a strong Chinese delegation from the Asian country to the WEFA. The former British Prime Minister, Sir Gordon Browne and former President Lula Da Silva of Brazil also attended. The Co-Chairs of the meeting are: Dominic Barton, Global Managing Director, McKinsey & Company, USA; JeanFrançois van Boxmeer, Chairman of the Executive Board and Chief Executive Officer, Heineken, Netherlands and Aliko Dangote, President and Chief Executive Officer, Dangote Group, Nigeria. Also included are Bineta Diop, Special Envoy for Women, Peace and Security, African Union; President, Femmes Africa Solidarité, Switzerland; Jabu A. Mabuza, Chairman, Telkom Group, South Africa; Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises, India and John Rice, Vice-Chairman, General Electric. Initiatives and programmes One of the sessions that stood WEFA 2014 out was the number of initiatives that were announced and launched during the global business event. One of the major partnerships announced at


Ngozi Okonjo-Iweala

sidelines of the WEFA was the $20 million Preventable Child-Maternal Death partnership between the United States Agency for International Development (USAID), the Federal Ministry of Health and GE Healthcare, one of the foremost global firms in healthcare technology. The partnership is aimed at eradicating preventable child-maternal deaths in the country, under the “Healthymagination Mother and Child Initiative” and would run for five years. The three strategic institutions under the partnership will collaborate on the development and implementation of viable solutions and a sustainable model of healthcare delivery aimed at increasing capacity of primary healthcare system in the country. The initiative will bring together mobile and alternative powered health technology, task-shifting programmes for nurses and midwives through a significant focus on training and education and consumer education for pregnant mothers in order to drive the right referrals and at the right time, thereby driving the Millennium Development Goals (MDG) of reducing child mortality and improving maternal health. Under the terms of the agreement, each of the partners will contribute towards the $20 million amount in the first phase for the acquisition of point of care equipment to strengthen effectiveness, impact, efficiency and sustainability of healthcare facilities and services in the rural areas. Another initiative that was flagged off at the WEFA was the commencement of technology skills acquisition programme in the country for Nigerian youths between global infrastructure leader, GE and Dangote Foundation. The initiative tagged garages programme in Nigeria, will be developed on learnings to create a new curriculum to meet industry needs being driven by technology advancements in manufacturing and closely related to entrepreneurship, and open innovation approaches. Adiahmbo Odaga, Director of Dangote Foundation, said that the programme will be focused in both classroom settings at a permanent location and in real-world, hands-on training modules, which will see youths get familiar with advanced manufacturing and production technology. The Nigerian business community

also launched the Safe School Initiative, which is expected to gulp over $10 million (about N1.65 billion). The initiative is aimed at making the school conducive especially for the girl child. Over 500 of such schools are located in the northern part of the country. The Nigerian government also pledged to compliment the amount put aside for the Safe School Initiative with another $10 million. Other initiatives launched at the WEFA include over $700 million to further drive and deepen immunization activities in the African continent by the African Union led by Paul Kagame of Rwanda as well as the development of a new Biomedical Equipment Technician Training (BMET) project in Nigeria by the GE Foundation in collaboration with the Developing World Healthcare Technology Laboratory at Duke University and Engineering. The BMET project is aimed at addressing a major need for locally qualified medical technicians to repair and service biomedical equipment and will be established at the Federal School of Biomedical Engineering Technology at the Lagos University Teaching Hospital (LUTH). It would build on the success of BMET programmes already implemented in Rwanda, Ghana, Cambodia and Honduras Investment A cross section of both government and private sector operators from Nigeria were highly optimistic that the successful hosting of the WEFA will open flood gates of investment into the Nigerian economy. Some of the high level participants at the event such as the Coordinating Minister of Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, Director General of the Securities and Exchange Commission (SEC), Ms Arunma Oteh, Former managing director of Zenith Bank

We will not allow the terrorists to dictate the African agenda. And this is the main message from this WEF

The investments are already here As the three-day event were being rounded up, the managing director of WEF, Mr Phillip Rosler, disclosed that a fresh investment commitment of $68billion had been secured for the African continent as a result of Nigeria's hosting of the international conference. He said that the amount would be invested in key sectors of the African economy such as education, health, infrastructure and agriculture among others. He, however, did not disclose the amount coming to Nigeria. Rosler said: “ All the monies together, which was committed by the Chinese and others, we have about $68 billion in the next years for Africa and the African people for specific project like infrastructure, energy, healthcare and very importantly education." Rostler further assured : “We will make sure that all these projects are successful in Africa. " Successful outing All the officials who were involved in the organisation of WEFA 2014 described the event as a huge success. Rosler described Nigeria's hosting of the forum as one of the most successful in the history of the organisation, adding that despite the security challenges in the country, the event recorded impressive turnout. The WEFA, which held in Abuja recorded a total number of 48,000 articles, which were written on the forum. Rosler said that the figure was three times higher than what was reported in the last edition. "It was a very successful World Economic Forum on Africa. We have more than 48,000 articles from these three days in Nigeria in comparison to last year, which had 16,000 and this is more than three times higher than last year”, the WEF chief executive noted. "This is a proof that Africa is very important to the people of the world. We not only want to create a future of interest but we are committed to improving the state of Africa." He said that through the global conference, the Federal Government had been able to secure huge solidarity around the world on the need to end terrorism. "We will not allow the terrorists to dictate the African agenda. And this is the main message from this WEF. As the curtain draws for the 2014 WEFA and the organisers are basking in the euphoria of a successful outing, Nigerians are already itching to reap from the benefits of hosting such a high profile economic event.



Sanctity of Truth

Monday, May 12, 2014

Naira devaluation imminent this year, says UBA CEO

CURRENCY Naira may find real value


igeria’s currency may face a “gradual depreciation” of as much as 15 per cent this year with the naira coming under pressure as the Federal Reserve reduces its asset purchase programme, said United Bank for Africa Plc (UBA) Chief Executive Officer Phillips Oduoza. While Nigeria’s foreign reserves have slowed their depletion this year there is

“very, very huge demand for foreign exchange arising probably from the tapering of the quantitative easing in the United States,” he said in an interview at the World Economic Forum in Abuja. “It could happen any moment from now; there is so much pressure on the local currency.”

Oduoza joins executives from Africa’s biggest phone company MTN Group Ltd. who said the the CBN may need to lower the naira’s target peg of a range of 3 percentage points around N155 per dollar. Andrew Bing, the chief financial officer of MTN’s Nigerian unit, said that the currency will probably be devalued

Why we are building capacity in SMEs, by Sterling Bank “


he process for transforming Small and Medium Enterprises (SMEs) to become bigger players and part of national growth does not start and end with finance. A huge part of it starts with education and that is why Sterling Bank Plc is building capacity in the SMEs sector.” These were the words of Executive Director, Sterling Bank, Mr. Abubakar Suleiman, at the capacity building training seminar for SMEs organized by the bank last Thursday. The programme was aimed at enhancing the managerial and entrepreneurial qualities of SME operators with a view to building sustainable business, in view of the critical roles they play in the development of an economy.

Explaining the rationale for organising the forum, Suleiman said: “It is our view that for us to be able to support SMEs, the standard for reporting and the day-to-day management of the organisation needs to improve. We are hoping that this seminar would achieve this objective. “We are focused on people we have done business with for a while and we want to assist them to take their businesses to another level.” He is also of the opinion that the type of education provided for SMEs needs to be improved. “Nigeria still has a lot to do and a long way to go when it comes to our legal environment, the process of securing approvals and setting up businesses,” he added. The Sterling Bank Executive

Director the institution will continue to invest in capacity building in the sector because the national economic development prospects of any country is hinged on the entrepreneurial energy of vibrant SMEs as most big business concerns grew from small scale players to become big icons. He however, noted that the expected growth of small and medium scale enterprises (SMEs) in the country would not be achieved unless there is an improvement in the quality of infrastructure in the country. In his remarks, a participant and the Chief Executive Officer, Africa Star Limited, Mr. Bawor Benjamin, commended the bank for coming up with the training programmes. He added that this will go a long way in

Economic Indicators As at M2* CPS* INF IBR MPR 91-day NTB DPR PLR Bonny Light Ext Res**

N14,737,618.7m N16,509,472.5m 8 0.0000 12 10.899 7.96 17.01 US$109.9 US$42,604,781,796.6



4.00% 23-Apr-2015 13.05% 16-Aug-2016 15.10% 27-Apr-2017 16.00% 29-Jun-2019 16.39% 27-Jan-2022 10.00% 23-Jul-2030

1.21 2.53 3.22 5.39 7.98 16.47

Tenor (Days) Call 7 30 60 90 180 365

Rate (%) 11.9167 12.3333 12.6667 12.9167 13.2167 13.5000 13.7500


Dec, 2013 Dec, 2013 Dec, 2013 2/5/2014 1/20/2014 11/6/2013 Dec, 2013 Dec, 2013 1/20/2014 2/5/2014 Source:CBN

FGN Bonds Bid Price 90.20 99.25 104.10 109.35 114.15 76.60

Offer Yield 13.01 13.40 13.47 13.49 13.44 13.59

Price 90.35 99.40 104.40 109.65 114.45 76.90

Tenor (Months) 1 2 3 6 9 12

Rate (%) 12.1827 12.2737 12.3744 12.8521 12.8535 13.8443

Treasury Bills Maturity Date 08-May-14 07-Aug-14 22-Jan-15

Bid 12.10 12.10 12.05


Bid Spot ($/N) 163.28 THE FIXINGS –NIBOR,NITTY and NIFEX of February 6,2014


Yield 12.86 13.33 13.35 13.42 13.38 13.53

Money Market Offer 11.85 11.85 11.80 Offer 163.38

Open-Buy-Back (OBB) Overnight (O/N)

Rate (%) 11.33 11.63

NIFEX Spot ($/N)

Bid 163.4000

Offer 163.5000 Source: FMDQ

after next year’s election because of lower than forecast oil exports from the Nigeria. Nigeria’s foreign-exchange reserves declined 13 percent this year to $38 billion by May 5 as the apex bank sold dollars to prop up the naira and as oil production missed estimates. Godwin Emefiele, who becomes the institution’s gov-

ernor in June, told the Senate in March that a devaluation of the naira is “not an option” and would be “devastating” for the economy. “It may happen and probably the market may force that,” said Oduoza. The naira gained 0.6 per cent to N160.95 per dollar as at last Friday. That pared losses in Nigeria currency to 0.4 percent after falling 2.6 per cent in 2013.

encouraging owners of small and medium scale businesses and give them an idea of how to grow their businesses and establish proper structures, so that they can access funds for business growth. “With this seminar, I think most of the people attending can gain new ideas to develop their businesses”, he said. Similarly, Mrs. Shade Animashaun, the Managing Director of Carlisle Nigeria Limited, said that the seminar would serve as the much-needed catalyst to hasten the growth of SMEs in the country, adding

that Sterling Bank through it has succeeded in adding value to the sector. Sterling Bank is one of the leading commercial bank in Nigeria and one of the country’s fastest growing banks. Originally incorporated in 1960 as NAL Bank (the country’s first investment banking franchise), it acquired the operations of the erstwhile Equitorial Trust Bank in November 2011 in pursuit of its growth and expansion plans. The bank currently operates out of 168 branches, about 3,600 POS and 300 ATMs across Nigeria.

Treasury Bills yield fall to 14-month low


igeria’s domestic borrowing costs dropped to the lowest level since March 2013 as a strengthening naira eased pressure on inflation and bolstered demand for the country's debt. The Central Bank of Nigeria (CBN) sold N157 billion ($973 million) of 91-, 182- and 364-day Treasury bills on May 7, with yields of all the notes retreating. Investors’ demand rose 20 per cent from the previous auction on April 23, according to data compiled by Bloomberg. “There’s renewed interest in government securities owing to an improvement in the naira exchange rate and the inflation outlook,” Kunle Ezun, a Lagos-based analyst at Ecobank Transnational Inc. (ETI), said.

The currency of Africa’s biggest oil producer has gained 0.8 per cent against the dollar in the past month, rebounding after a fall to a record low in February. That’s easing pressure on inflation, which accelerated to 7.8 percent in March from 7.7 percent a month earlier. Foreign-exchange reserves dropped 13 per cent this year as the central bank used the funds to prop up the naira at its twice-weekly currency auctions. The bank sold N22 billion of 91-day notes at 10.24 per cent, N30 billion of 182-day securities at 10.65 per cent and N105 billion of 364-day debt at 11.28 percent, according to data compiled by Bloomberg. The currency weakened 0.4 per cent to N161.55 per dollar as at last Friday.

CBN chief lists gains of Aregbesola's administration


he transformations in the various sectors of the economy of Osun have been described as indices that have shored up the economy of the state in no small measure. This was the observation of the Assistant Director, Central Bank of Nigeria, Osogbo Branch, Mr. Macduff Efetabore Okoro, who also said the current administration of Ogbeni Rauf Aregbesola is affecting lives in manners never witnessed before in the state. The apex bank chief spoke at the commissioning of the South-West Zonal Office of the Chartered Institute of Bankers of Nigeria. While proposing a toast to the State of Osun, Okoro said the state is currently reaping some enduring dividends of democracy in the past three

and half years. Highlighting the areas of development, the CBN boss identified quality and affordable education, youth empowerment, roads and other infrastructural developments as some of the areas massive impacts have been recorded. He averred that adding to the changing terrain for doing business, there is a new impetus and momentum to breathe life into the economy which has been dormant before the advent of Aregbesola's government. "It is pleasing to note that, in the State of Osun today, there is the Osun Rural Enterprises and Agricultural Programme (O’REAP) which has engaged tens of thousands in food crop cultivation, fisheries, beef production and even cocoyam cultivation.


Sanctity of Truth

Monday, May 12, 2014

Declining bank earnings: Direct marketing to the rescue

Banking hall and customers at the entrance of a bank

Godson Ikoro


s Nigerian Banks continue to return declining earnings, profits and return on investments for year 2013 and the first quarter of 2014, experts have stressed the need for lenders to veer into creative and direct marketing of their potential customers, while managing the existing ones. To protect the naira, the Central Bank of Nigeria (CBN) increased Cash Reserve Ratio (CRR) on public sector deposits to 75 percent from 50 percent last year and also told lenders to lower fees and commissions to reduce costs to customers. The CBN also raised requirements on private deposits to 15 per cent from 12 per cent on March 25 to reduce liquidity and support the naira. These have had a negative impact on banks’ bottom line. A cross section of money market operators and shareholders, who spoke with New Telegraph, urged banks to be more creative in their combination and permutation of costs to boost their dwindling fortunes through effective direct marketing. Attributing the slow growth to regulatory changes, Mr. Wale Oke, President of Money Market Association of Nigeria, said that the challenge before banks now is creative marketing and innovations to create more opportunities to shore up the earnings. Aside that, banks should prudently manage their costs and effectively utilize their funds, he said, adding that lenders, who take a panic measure of placing embargo on marketing communication, require a more strategic view. In this clime, he said that lenders base everything on transactional relationship-business alone." But when you manage your customers and motivate them well, you will continue to grow your numbers,” he said.

The Money Market boss however, said he believes that banks are actually pursuing and bonding with their customers. Also sharing his views on the sliding profits, Mr. Nona Awo, an investment analyst, said that the best the banks should have done was to focus on their cost efficiencies. “This should be done not necessarily by cutting all costs, but knowing the cost that will bring in more revenue, he said, adding that some banks were able to reduce the impact of CBN policies through their effective marketing and creation of promos. According to him, provision of strong technology platforms is one of the ways to reduce overhead costs. Illustrating with a simple withdrawal, he said that banks with strong platforms gain from those with weak platforms. If bank A‘s platform is strong such that you have access and withdraw from its Automated Teller Machine, customers of bank B with weak platform will go to bank A and the income and patronage, which would have remained in Bank B, will move to bank A because B pays a certain amount for the usage of its cards at bank A’s platform. Aside the platforms, he argued that some banks were able to boost their numbers through their promos, citing Diamond bank’s customer for life promo as example one of such. Other banks such as First Bank, Sterling Bank, First City Monument Bank, and Skye Bank that ran promos last year, were able to reduce shocks of regulatory changes, he explained. Similarly, Boniface Okezie, President of progressive shareholders Association corroborated Awo, on the need for the provision of a strong platform. While some banks have created contact centres and have deployed it to motivate some customers, others are still behaving like armchair bankers, expecting the customers to bring busi-

ness to them. Instead of making use of their Know Your Customer (KYC) data to create irresistible products and services, some banks simply do not know what to do. Direct marketing includes various approaches in which a bank directly contacts the customers or its solution end-users or the face-to-face selling of bank products. It begins with reliable database, offering consumers/banking public greater value through more customized and personalized approach for product and service offerings via tailor made processes to meet the needs of customer to build customer loyalty. It begins with a consistent customer profile available, which describes the dominant target market with accurate database. This helps to identify prospects, decide when a customer needs a specific offer enhancement. But feelers from some banks indicate that some products and services solutions are not getting the expected patronage of customers. Personalized interactive before or during the actual transaction is less optimum. Increasingly, new technologies and the Central Bank’s series of know your customer initiatives have allowed some banks to get extra ordinarily rich data on consumer/customer demographics and behaviours. The focused Banks can now make the individual the principal unit of analysis and management. Armed with the data, they target just those people who would likely want a

The challenge before banks now is creative marketing and innovations to create more opportunities to shore up the earnings

particular product or suggesting additional items that current customers would likely buy. Another Banker who pleaded anonymity, said that serious banks have developed the arsenal of analytic tools to help them to more precisely, identify and manage their customers: lift and gains charts: response to analysis; recency, frequency and monetary value (RFM) models, decision trees, decision calculus and many others. According to him, these tools have gone a long way toward improving the effectiveness of marketing investments. Investment analysts; using these customer targeting skills, in its ventures, can grow their revenue. Specifically, he said that direct marketing budgets of some banks showed that in making direct marketing investments per customer would improve average customer profitability. He noted that in making direct marketing decisions, some banks still emphasize short-term cost over longterm gain, favouring the pursuit of customers who are cheap to acquire and retain without necessarily being very profitable. Consequently, he emphasized that customer acquisition and customer retention separately does not maximise profits. The remedy he said is to adopt an integrated approach to deciding how to spend the bank’s marketing naira and efforts at using data that bank already gathered can guide managers in deciding how much to spend on direct marketing, what percentages they should devote to acquisition versus retention and given what percentage of their funds they should allocate to different direct marketing channels to get most profits from each customer. Some banks focus too much on the present cost of acquiring and retaining customers and not enough on their customer long-term value.


Sanctity of Truth

Monday, May 12, 2014

Access Bank: Investors bank on outlook ROI Shareholders build on bank’s prospects


nvestors’ appetite on the shares of Access Bank has been mixed just like other lenders, which recorded a dip in their bottom line for last year operations and also had their stock price undervalued. In spite of these, investors have kept faith in the lender as an institution positioned to render good returns on investment this year. The loyalty of investors were reengineered on the back of an improvement in the bank’s 2014 first quarter results recently released to the investment community and the hope that the new management would reinforce its statutory business to unlock better potential. Notwithstanding these developments, the bank still maintained its commitment to maximising shareholder value with a dividend payout of 60kobo per share. The lender had earlier paid an interim dividend of 25 kobo and proposed 35 kobo per share as final dividend to shareholders. Strategy In the evolution of its corporate strategy for 2013 – 2017, the bank has identified and commenced cultivation of business areas that will guarantee steady earnings in conformity with its sustainable growth agenda. It has embarked on aggressive re-activation of accounts within its retail customer base and focuses concurrently on the financing the needs of its corporate and commercial customers. Market pundits believe the banks strategic plan would reposition the institution and shore up confidence of investors on the stocks to jostle for position. The lender’s share price, which closed at N9.31 per share in January 2, 2013 when the stock market opened for the year declined considerably that at the closing bell rang on Friday, while the share price stood at N9.08, a decline of 23 kobo or 2.53 per cent year to date. According to market pundits Investors’ appetite for the stocks will be strengthened not only on the Q1 2014 financial results but also on the bank’s strategic plan, which according to analysts, would ginger investors’ confidence. 2013 financials A glance through the 2013 full year numbers revealed that the bank recorded a marginal drop in profits as it posted a Profit Before Tax (BPT)

of N44.9 billion, which is a 3.4 per cent decrease compared with the N46 billion recorded for the corresponding period in 2012. The bank’s earnings grew to N206.7 billion from N206.4 billion in 2012. Similarly, the bank recorded an improvement in its cost of funds from 4.5 per cent to 4.6 per cent, while NonPerforming Loans (NPL) ratio decreased to 2.7 per cent from 5.0 per cent, which stemmed from the lender’s enhanced risk management framework. The results also showed an increase in the bank’s deposit base from N1.201 trillion to N1.33 trillion, 11 per cent growth over last year’s figure, while loan book rose impressively by 33 per cent, from N609billion in 2012 to N810bllion in 2013, demonstrating the bank’s resolve to empowering critical sectors of the economy. The performance for the financial year under review is strong testament to Access Bank’s positioning as one of Nigeria’s Tier 1 banks. Factors that impaired results According to analysts, the company’s dip in the bottom line was attributable to regulatory changes in the operating environment, some of which include raising of the cash reserve requirements (CRR) on public sector deposits to 50 per cent from 12 per cent, reduction and removal of a number of fee income lines such as Automated Teller Machines (ATM), Commission on Turnover (CoT) charges and increase in the Asset Management Corporation of Nigeria (AMCON) levy from 0.3 per cent to 0.5 per cent amongst others. Managements perspective Commenting on the Bank’s performance, the Group Managing Director, Herbert Wigwe, said “Access Bank’s 2013 earnings were impacted by several regulatory changes in the Nigerian banking sector. The bank’s balance sheet structure during the period further constrained growth and limited the yield on our earnings asset. “Despite the difficult operating environment, the bank grew its loan book to position it for improved earnings, while driving deposit mobilisation from targeted segments to further reduce cost of funds. We also saw an increase in our non-interest income. As the business continues to grow, risk management remains fundamental to the bank’s philosophy evidenced by the reduction in the NPL ratio. “I am particularly excited about the next phase of the bank’s evolution. Having articulated our five-year strategy plan, we began execution by re-aligning our SBUs to ensure that customer service

and delivery are improved at all levels. With our businesses realigned, we are now placing greater emphasis on providing services geared towards women and SMEs in Nigeria, as they underpin the next phase of economic growth. Infrastructure financing is another key focus for us going forward. Throughout the next phase, we will continue to invest in technology to ensure that we build a customer experience that is both innovative and sustainable.” Q1 2014 results However, matching words with action, the bank recorded a boost in its first quarter results as profit before tax jumped 20 per cent to N13.4 billion in its unaudited results for the three months ended 31 March 2014. The bank, which recorded N11.1 billion PBT in the comparable period of 2013, also grossed N57 billion, representing a nine per cent increase in the period under review. Similarly, operating income increased by 19 per cent to N42 billion supported by a 12 per cent increase in its non-interest income during the period. In the same vein, Access Bank’s net interest margin rose to 6.2 per cent compared with the 5.4 per cent in the first quarter of 2013. It recorded an eight per cent increase in its loan book to N871.8 billion from the N810.7 billion, while customer deposits climbed to N1.40 trillion. Commenting on the results, Wigwe said: “I am pleased with the progress that the bank is making in delivering on a strategy we spent time explaining to our stakeholders. These results clearly demonstrate strong progress towards sustainable and profitable growth for our shareholders. “Business performance has improved across all key segments, as the bank lays out its medium term plan. Whilst our corporate banking division remains a stronghold for the bank, significant potential is being shown by our personal and business banking divisions.” Outlook The bank’s Group Deputy Managing Director/COO, Obinna Nwosu, who commented on the future of the bank and provided highlight of how


the strategy will continue to be met, said : “This past year, the bank recalibrated its operat-

Share price movement of Access Bank Plc 2013 June 30


July 31


Aug 31


Sept 30


Oct 31


Nov 30


Dec 31



In spite of these, investors have kept faith in the lender as an institution positioned to render good returns on investment this year

Jan 31


Feb 28


Mar 31


Apr 17


May 9


ing model as we leveraged on unique value propositions targeted at growing segments in the economy. “We launched and completed key projects aimed at increasing our efficiency and improving our customer service over the long-run. These include the upgrade of our IT platform to enhance operational capabilities to support our multichannel strategy; and the revamping of our sales force model to ensure we better improve on customer engagement and utilise marketing opportunities. “Our customers remain at the heart of our business; we will continue to adapt to changing market trends to meet their evolving needs.” We have enhanced products, services and systems; we also have effective controls and outstanding people. All these together ensure that we are delivering on our customer promise of speed, service and security”. Besides, he noted that the bank launched ‘Primus’, an internet banking application for corporate customers and introduced series of customer service initiatives to further transform customer experience across its service platforms.


Sanctity of Truth

Monday, May 12, 2014


RED Bargain hunters retreat despite expectations from World Economic Forum


rading activities on the floor of the Nigeria Stock Exchange (NSE) closed considerably in the red zone last week as investors continued to lick their fingers following the bear run that characterised activities on the first and last trading days of the week. Contrary to expectations, investors could not get respite on the back of World Economic Forum on Africa (WEFA) which was held during last week in Abuja. Ahead of the economic forum, analysts had predicted that despite challenges of insecurities that had threatened investment inflow in the country, the forum would help to attract foreign investment. They opined that the capital inflow that will come into many sectors of the Nigerian economy on the back of the forum would be significant following huge publicity that would unlock enormous potentials for the growth of the economy. However, the NSE All-Share Index depreciated by 0.06 per cent to close last Friday at 38,554.19 while the market capitalisation of the listed equities on the main board depreciated by 0.01 per cent to close at N12.669 trillion. Four of the NSE indices appreciated while three depreciated during the week. However, the NSE ASeM closed flat during the week. Negative Activities had opened the week on Monday in a negative note as the stock market lost points and returned to red territory following sell pressure on blue chip companies. The twin market performance measures, the NSE ASI and market capitalisation, dropped by 0.34 per cent as the market tempo lowered. At the close of trading, 20 stocks recorded price appreciation, while 32 others constituted the losers table. The twin market indicators, the All-Share Index, dropped by 130.89 basis points or 0.34 per cent from 38, 578.78, last Friday to close at 38,447.89, while the market capitalisation dropped by N43 billion or 0.34 per cent from N12,700 trillion to N12,657 trillion. Further analysis of the trading showed that Transcorp Plc topped the day’s gainers table with 7.02 per cent each to close at N3.66 while UPL Plc followed with five per cent to close at N3.99 per share. Access Bank added 4.89 per cent each to close at N9.01. On the flip side, AG Leventis led the losers with a drop of 6.25 per cent to close at N1.50, FBNH shed N5.58 per cent to close at N13.03 while Presco dipped by 5 per cent to close at N37.05 On the activity chart, the banking sub-sector dominat-

Trading floor of the NSE

Stock market records marginal loss in spite of WEFA ed in volume terms with 75.6 million shares worth N683.8 million in 1381 deals. The sub sector was enhanced by the activities in the shares of UBA and GTB Plc. Other financial services sector boosted by the activities on the shares of FBNH Insurance followed with 68.8 million units, worth N432.3 billion in 1,117 deals. In all, investors exchanged a total of 258.4 million shares, worth N2.01 billion in 4,552 deals.

glomerate, UAC of Nigeria, increased by N1.75 to close at N57.00 per share. On the flip side, maker of non-alcoholic beverages, Seven Up, tumbled by N4.50 to close at N85.50 per share. Also, shares of alcoholic beverages producers, Nigerian Breweries, fell by N0.69 to close at N148.72 per share. Financial services stocks, Stanbic IBTC Holding and Guaranty Trust Bank, shed N0.40 and N0.30 to close at N22.60 and N26.50 respectively.

Bulls resurface On Tuesday, the Nigerian equities market returned into bullish territory at the close of market amid increase in investment levels as NSE ASI appreciated by 0.08 per cent to close at 38,480.07 basis points, compared with the depreciation of 0.34 per cent recorded previously. Market turnover also closed positive as volume traded appreciated by 97.87 per cent against 39.92 per cent declines recorded in previous session. Afrinsure, Access Bank, and UBA were the most active to boost market turnover. Nestle and GTB topped market value list. NSE Insurance recorded 0.45 per cent to emerge the most supportive sectoral performance among others while NSE Banking was the most hit with 0.34 per cent loss. Further analysis showed that gainers were led by indigenous upstream and exploration company, Seplat Petroleum, which firmed by N30.96 to close at N662.99 per share, even as downstream petroleum marketer, Total Nigeria, gained N2.50 to close at N152.50. Food products and confectionery company, Nestle Nigeria, added N10.00 to close at N1,080.00 per share, while fast food and logistics con-

WEFA Market sentiment on Wednesday remained positive as World Economic Forum began in Abuja. Nigeria is hosting the yearly forum for the first time since its inception 24 years ago. Meanwhile, gains from most blue chip companies lifted the market capitalisation by N35 billion as investors’ appetite remained positive. Consequently, at the close of transactions market capitalisation increased by 0.27 per cent or N35 billion from N12.667 trillion traded on Tuesday to N12.702 trillion. Also, the NSE All Share Index (ASI) appreciated by 105.92 basis points to 38,585.99 basis points from 38,480.07 points recorded in the previous day. Further review of Friday’s trading showed that investors bought 321.9 million shares worth N3.2 billion in 3,952 de als. On the price movement chart, Mobil Nigeria Plc led gainers table, appreciating by 7.39 per cent to close at N123.50 per share, Seplat Petroleum Development Company Plc followed with a gain of five per cent to close at N696.12 per share while Custodian and Allied Insurance added 4.92 per cent to close at N2.77 per share. On the other hand, Fidson

Healthcare Plc topped losers chart, shedding 5.22 per cent to close at N2.36 per share. Jos Breweries Plc trailed with a loss of 4.74 per cent to close at N3.42 per share while Costain West Africa Plc lost 4.35 per cent to close at N1.32 per share. Further analysis showed that the financial sub-sector was toast of investors as it recorded 115 million shares worth N1.1 billion traded in 1,147 deals. Shares of Continental Insurance were the most traded shares that activated the sub-sector. On Thursday, the Nigerian bourse continued its positive price momentum as key market parameters, the NSE ASI and market capitalisation, ascended by 14 basis points. The NSE Insurance Index recorded an increase of 1.97 per cent while the NSE Oil and Gas Index shot up by 1.51 per cent. However, the NSE Consumer Goods Index regressed 0.41 per cent. Shares of refined petroleum products marketer, Mobil Nigeria, strengthened further by N5.90 to close at N129.40 apiece, even as integrated energy providers, Oando, gained N0.52 to close at N16.00 per share. Similarly, building materials maker, Ashaka Cement, firmed by

Five most capitalized stocks@ May 9, 2014 Dangote Cement Plc


Nigeria Brewery Plc

N1.1 tn

Nestlen Nig Plc




Zenith Bank Plc


N0.80 to close at N19.80 while building industry titan, Dangote Cement, rose by N0.36 to close at N225.00 per share. Consumer products company, Nestle Nigeria, lost N9.51 to close at N1,070.49 per share, while shares of personal health care and consumer goods company, PZ Cussons Nigeria, fell N0.40 to close at N35.60 per share. Also, shares of building materials maker, Lafarge Cement Wapco, plummeted by N1.99 to close at N110.00 while shares of brewer of alcoholic beverages, Nigerian Breweries, moderated by N1.00 to close at N149.00 per share. Resurgence of bears The bears resurfaced in the equities market on Friday as the bulls retreated, giving way to bearish territory despite increased investment levels. However, the principal market indicators, the NSE ASI and market capitalisation, declined by 22 basis points each at the close of Friday’s trading session. Downstream petroleum products marketer, Mobil Nigeria, surged by N6.47 to close at N135.87 apiece, while industry rival, Total Nigeria, gained N2.35 to close at N155.35 per share. Also, financial services companies, Diamond Bank and Union Bank of Nigeria, rose by N0.22 and N0.19 to close at N6.53 and N10.19 respectively. Local petroleum company, Seplat Petroleum, shed N13.79 to close at N682.33 per share, while shares of soft drinks maker, 7UP Bottling Company, fell by N3.50 to close at N82 per share. FMCGs were also on the losing side; shares of nutrition and wellness company, Nestle Nigeria, moderated by N0.49 to N1,070 while oil palm processing company, Okomu Oil, slipped N0.27 to close at N35.33 per share.


Sanctity of Truth

Monday, May 12, 2014

FMDQ Daily Quotations List


The FMDQ Daily Quotations List (DQL) comprises market and model prices/rates of foreign exchange ($/N) products, fixed income securities and instruments in the OTC market. The use of this report is subject to the FMDQ OTC PLC Terms of Use and Disclaimer Statement.



FGN Bonds Issuer




Description 9.20 29-JUN-2014 9.25 28-SEP-2014 4.00 23-APR-2015 13.05 16-AUG-2016 15.10 27-APR-2017 9.85 27-JUL-2017 9.35 31-AUG-2017 10.70 30-MAY-2018 16.00 29-JUN-2019 7.00 23-OCT-2019 16.39 27-JAN-2022 14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030

Issue Date

Coupon (%)

Outstanding Value (N'bn)

29-Jun-07 28-Sep-07 23-Apr-10 16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10

9.20 9.25 4.00 13.05 15.10 9.85 9.35 10.70 16.00 7.00 16.39 14.20 15.00 12.49 8.50 10.00

45.00 100.00 535.00 435.27 452.80 20.00 100.00 300.00 351.30 233.90 600.00 75.00 75.00 150.00 200.00 591.57


Bid Price

Offer Price

0.14 0.39 0.96 2.27 2.97 3.22 3.31 4.06 5.14 5.46 7.72 9.85 14.56 15.04 15.53 16.21

10.33 10.64 11.79 12.53 12.59 12.54 12.54 12.56 12.67 12.60 12.72 12.74 12.92 12.94 12.96 13.05

9.28 10.23 11.19 12.45 12.53 12.41 12.42 12.46 12.60 12.51 12.67 12.69 12.88 12.89 12.90 13.00

99.80 99.44 93.14 100.95 106.05 93.02 91.54 94.20 112.25 78.35 117.65 108.00 113.50 97.04 70.45 79.60

99.95 99.59 93.64 101.10 106.20 93.32 91.84 94.50 112.55 78.65 117.95 108.30 113.80 97.34 70.75 79.90

Maturity Date

TTM (Yrs)

29-Jun-14 28-Sep-14 23-Apr-15 16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30

4,264.84 Issuer

Agency Bonds AMCON FMBN


Bid Yield (%)

Offer Yield (%)



0.00 AMCON 31-OCT-2014 (SR.5 TR.1) 0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 09-DEC-2016 0.00/16.50 LCRM II 20-APR-2017 0.00/16.50 LCRM III 06-JUL-2017


Issue Date

Coupon (%)

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Indicative Price

28-Dec-11 24-May-10 03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

0.00 0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

978.35 24.56 6.00 112.22 116.70 66.49

31-Oct-14 24-May-15 03-Apr-17 09-Dec-16 20-Apr-17 06-Jul-17

0.48 1.04 1.53 2.59 2.95 3.16

1.00 2.63 2.27 2.00 1.49 1.00

11.81 14.53 14.39 14.45 14.01 13.53

94.68 86.41 103.96 94.57 91.66 90.24

05-Aug-14 15-Oct-14 31-Aug-15 30-Sep-15 30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 30-Sep-20 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21

0.24 0.44 1.31 0.91 1.21 1.22 2.95 1.78 3.65 2.62 4.41 2.62 2.62 3.20 3.27 5.54 3.24 3.95 6.55 6.65 3.95 3.99

4.88 5.99 4.44 3.23 4.46 3.48 5.59 7.60 1.79 1.80 1.00 1.00 1.21 1.00 2.46 1.94 2.74 2.74 1.00 1.94 1.44 1.95

15.38 16.74 16.46 14.93 16.43 15.46 18.11 19.83 14.34 14.25 13.57 13.45 13.66 13.54 15.00 14.55 15.28 15.30 13.63 14.58 14.00 14.51

99.55 98.83 95.44 98.74 97.52 100.41 82.08 91.21 99.01 99.61 101.35 102.39 113.00 102.44 101.34 99.81 98.76 98.48 99.41 101.71 109.93 109.60

07-Oct-14 18-Dec-14 31-Dec-14 17-Aug-15 09-Dec-15 06-Jan-16 29-Sep-16 25-Oct-16 30-Sep-17 30-Nov-17 09-Apr-18 09-Sep-18 09-Sep-18 22-Sep-18 18-Oct-18 17-Feb-19 14-Nov-20

0.41 0.61 0.65 0.79 0.87 0.95 2.39 2.46 3.39 2.01 2.17 2.33 2.33 4.37 2.44 2.53 6.52

1.00 5.21 8.71 4.88 1.00 2.63 1.00 1.34 4.52 1.88 3.48 5.20 5.06 3.06 2.29 6.11 2.76

11.72 16.27 19.85 16.33 12.61 14.41 13.41 13.76 17.06 14.21 15.84 17.60 17.46 15.63 14.71 18.55 15.39

99.87 98.40 98.27 95.56 99.68 100.05 99.15 100.97 89.81 107.65 100.44 101.03 101.95 94.92 102.12 97.35 99.42






Bid Price

Offer Price



Sub-National Bonds A/Agusto A-/GCR A+/Agusto A/Agusto Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto; A-/GCR† A-/Agusto A/Agusto; A-/GCR A/Agusto; A-/GCR Aa-/Agusto; AA-/GCR A/Agusto; A-/GCR A/Agusto Aa-/Agusto; AA-/GCR A-/Agusto; BBB+/DataPro A/Agusto A-/GCR


14.00 KWARA 5-AUG-2014 14.00 NIGER 15-OCT-2014 12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 14.00 NIGER III 12-DEC-2018 15.50 ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 14.75 OSUN II 30-SEP-2020 13.50 LAGOS IV 27-NOV-2020 15.00 KOGI 31-DEC-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021

05-Aug-09 15-Oct-09 31-Aug-10 30-Sep-10 30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 30-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13 14-Feb-12 02-Oct-12 22-Nov-12 12-Dec-12 30-Sep-13 27-Nov-13 31-Dec-13 31-Dec-13 06-Jan-14

14.00 14.00 12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50 14.00 15.50 15.50 14.50 14.75 14.75 13.50 15.00 14.50 15.00

17.00 6.00 8.50 16.50 13.00 18.50 57.00 50.00 25.00 50.00 9.00 20.00 12.00 27.00 20.00 80.00 30.00 11.40 87.00 5.00 5.00 5.00



Corporate Bonds A+/Agusto; AA/GCR Aa/Agusto Nil Bbb-/Agusto A-/Agusto BB+/GCR A+/Agusto; A-/GCR A-/Agusto A/GCR BBB-/GCR BBB+/DataPro†; BB+/GCR A-/DataPro†; BB-/GCR AAA/DataPro†; A+/GCR A/Agusto; A/GCR Bbb+/Agusto; BBB+/GCR BBB-/DataPro†; BB+/GCR A+/Agusto; A-/GCR


11.50 LAFARGE WAPCO 7-OCT 2014 13.50 GUARANTY TRUST 18-DEC-2014 17.00 NGC 31-DEC-2014 10.00 UPDC 17-AUG-2015 12.00 FLOURMILLS 9-DEC-2015 14.00 CHELLARAMS 06-JAN-2016 13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 15.25 NAHCO II 14-NOV-2020

07-Oct-11 18-Dec-09 01-Apr-10 17-Aug-10 09-Dec-10 06-Jan-11 29-Sep-11 25-Oct-13 30-Sep-10 30-Nov-12 09-Apr-11 09-Sep-11 09-Sep-11 22-Sep-11 18-Oct-13 17-Feb-12 14-Nov-13

11.50 13.50 17.00 10.00 12.00 14.00 13.00 14.25 13.00 18.00 16.00 18.00 16.00 14.00 15.75 17.00 15.25

11.80 13.17 2.00 15.00 37.50 1.50 15.00 5.53 20.00 0.94 8.01 3.63 1.00 35.00 3.00 0.54 2.05



Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018






12.00 Issuer


Issue Date

Coupon (%)

Issue Value ($'mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021









5.13 JUL 12, 2018









6.38 JUL 12, 2023









FGN Eurobonds

Prices & Yields

BB-/Fitch; B+/S&P BB-/Fitch; BB-/S&P


BB-/Fitch; BB-/S&P



Corporate Eurobonds AFREN PLC I

11.50 FEB 01, 2016










7.50 MAY 19, 2016










6.00 NOV 08, 2018









7.25 JUL 25, 2017









6.88 MAY 09, 2018










10.25 APR 08, 2019










6.25 APR 22, 2019









B/S&P; B-/Fitch

8.25 AUG 07, 2020









B+/S&P; B+/Fitch


6.63 DEC 09, 2020









B-/S&P; B/Fitch B+/S&P; B+/Fitch B+/S&P B/S&P; B/Fitch B/Fitch B+/Fitch; BB-/S&P




**Treasury Bills DTM 13 20 27 41 48 55 62

FIXINGS Maturity 22-May-14 29-May-14 5-Jun-14 19-Jun-14 26-Jun-14 3-Jul-14 10-Jul-14

Bid Discount (%) 10.00 10.00 10.00 10.20 9.85 10.05 9.75

Offer Discount (%) 9.75 9.75 9.75 9.95 9.60 9.80 9.50

Bid Yield (%) 10.04 10.06 10.07 10.32 9.98 10.20 9.91

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.6250 12.4890 13.2209 14.0581

Foreign Exchange (Spot & Forwards)


Rate (%)




Bid ($/N)

Offer ($/N)


Spot 7D 14D 1M 2M

161.15 161.40 161.65 162.24 163.39

161.25 161.67 162.03 162.97 164.71

O/N Tenor Call


Rate (%) 10.25

16.39 27-JAN-2022 14.20 14-MAR-2024 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 10.00 23-JUL-2030

27-Jan-12 14-Mar-14 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10

16.39 14.20 15.00 12.49 8.50 10.00

600.00 75.00 75.00 150.00 200.00 591.57


Agency Bonds AMCON

Sanctity of Truth






Seplat outstanding shares Sub-National Bonds increased as a result of A/Agusto KWARA A-/GCR NIGER oversubscription A+/Agusto A/Agusto Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto; A-/GCR† A-/Agusto A/Agusto; A-/GCR A/Agusto; A-/GCR Aa-/Agusto; AA-/GCR A/Agusto; A-/GCR A/Agusto Aa-/Agusto; AA-/GCR A-/Agusto; BBB+/DataPro A/Agusto A-/GCR

Chris Ugwu



he Nigerian Stock Exchange (NSE) has reported that an additional 10,026,183 ordinary shares of 50k each of Seplat Petroleum Development Company Plc was added to the company’s outstanding shares at the weekend. It said increase stemmed from over subscription and alTOTAL OUTSTANDING VALUE lotment in the Issuer’s Global IPO. Corporate Bonds With the addition, the comA+/Agusto; AA/GCR LAFARGE WAPCO pany’s outstanding shares now Aa/Agusto GTB Nil stands at 553,310,313,NGC while it’s Bbb-/Agusto *UPDC share price as at the weekend A-/Agusto *FLOURMILLS stood at N682.33 per*CHELLARAMS share BB+/GCR A+/Agusto; The company A-/GCR recently NAHCO listedA-/Agusto its shares on the FSDH Exchange µ

A/GCR BBB-/GCR BBB+/DataPro†; BB+/GCR A-/DataPro†; BB-/GCR AAA/DataPro†; A+/GCR A/Agusto; A/GCR Bbb+/Agusto; BBB+/GCR BBB-/DataPro†; BB+/GCR A+/Agusto; A-/GCR

7.72 9.85 14.56 15.04 15.53 16.21

12.72 12.74 12.92 12.94 12.96 13.05

12.67 12.69 12.88 12.89 12.90 13.00



0.00 AMCON 31-OCT-2014 (SR.5 TR.1) 0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 09-DEC-2016 0.00/16.50 LCRM II 20-APR-2017 0.00/16.50 LCRM III 06-JUL-2017

Issue Date

Coupon (%)

Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

28-Dec-11 24-May-10 03-Apr-12 09-Dec-11 20-Apr-12 06-Jul-12

0.00 0.00 17.25 0.00/16.00 0.00/16.50 0.00/16.50

117.95 108.30 113.80 97.34 70.75 79.90

Risk Premium (%)

Valuation Yield (%)

Indicative Price

1.00 2.63 2.27 2.00 1.49 1.00

11.81 14.53 14.39 14.45 14.01 13.53


BUSINESS | FINANCIAL MARKET NEWS 37 978.35 24.56 6.00 112.22 116.70 66.49

31-Oct-14 24-May-15 03-Apr-17 09-Dec-16 20-Apr-17 06-Jul-17

0.48 1.04 1.53 2.59 2.95 3.16

Seplat’s outstanding shares rise by 10m

94.68 86.41 103.96 94.57 91.66 90.24


having been admitted into 14.00 KWARA 5-AUG-2014 14.00 NIGER 15-OCT-2014 London Stock Exchange (LSE) 12.50 KADUNA 31-AUG-2015 official list last Wednesday. 13.00 EBONYI 30-SEP-2015 Seplat’s global offer raised 14.00 BENUE 30-JUN-2016 $500 million, giving it a market 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 capitalisation of $1.91 billion. 13.75 the BAYELSA 30-JUN-2017 With development, Seplat 14.00 EDO 31-DEC-2017 became the sixth oil and gas 14.00 DELTA 30-SEP-2018 explorer with significant oper14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018 on London’s ations in Nigeria 14.00 NIGER III 12-DEC-2018 markets. 15.50 ONDO 14-FEB-2019 The Head of primary mar15.50 GOMBE 02-OCT-2019 kets Africa, LSE Ibukun 14.50for LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 Adebayo, said that the suc14.75 OSUN II 30-SEP-2020 of Seplat cessful completion 13.50 LAGOS IV 27-NOV-2020 simultaneous IPO in London 15.00 KOGI 31-DEC-2020 and Lagos is a demonstration 14.50 EKITI II 31-DEC-2020 NASARAWA 06-JAN-2021 of 15.00 how LSE and the NSE can complement each other in financing Nigerian industry 11.50 LAFARGE WAPCO 7-OCT 2014 and infrastructure. 13.50 TRUST 18-DEC-2014 listHe GUARANTY said, “A London 17.00 NGC 31-DEC-2014 ing ensures that Nigerian 10.00 UPDC 17-AUG-2015 companies have access to the 12.00 FLOURMILLS 9-DEC-2015 world’s largest06-JAN-2016 pool of inter14.00 CHELLARAMS 13.00 NAHCOequity 29-SEP-2016 national capital and 25-OCT-2016 to 14.25 theFSDH world’s marquee inves13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 22-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 15.25 NAHCO II 14-NOV-2020

14.00 listing tors, 05-Aug-09 while a Nigerian 15-Oct-09 14.00 ensures that all available do31-Aug-10 12.50 mestic funds are tapped and 30-Sep-10 13.00 Nigerian citizens are provided 30-Jun-11 14.00 the opportunity to participate 30-Jun-09 15.50 in the19-Apr-10 wealth that is 10.00 created by 30-Jun-10 13.75 the development of the coun30-Dec-10 14.00 try’s 30-Sep-11 natural resources,” he 14.00 said. 04-Oct-11 14.00 09-Dec-11 the Chairman 14.50 Earlier, of 12-Dec-13 14.00 the company , Dr. ABC Orjiako, 14-Feb-12 15.50 said in the statement that the 02-Oct-12 15.50 $500 22-Nov-12 million proceeds 14.50 of the 12-Dec-12 global offer would 14.75 allow the 30-Sep-13 14.75 company to further implement 27-Nov-13 13.50 its business , which in31-Dec-13 strategy15.00 cludes acquiring new assets. 31-Dec-13 14.50 15.00a disciHe06-Jan-14 said Seplat has plined approach to acquiring new onshore and shallow water assets 07-Oct-11in the Niger 11.50 Delta, 18-Dec-09 adding that this 13.50 would be 01-Apr-10 strictly adhered to. 17.00 17-Aug-10 10.00 “We will be proud to be 09-Dec-10 12.00 the first dual-listed Nigerian 06-Jan-11 14.00 company 29-Sep-11 to have its13.00 ordinary 25-Oct-13 shares listed on the14.25 LSE and

reserves of oil and 4tcf of gas reserves. OPL 281 will be the ransnational Corporation centrepiece of Transcorp’s Supranational Bond of Nigeria Plc (Transcorp) energy business and will pro10.20 IFC 11-FEB-2018 AAA/S&P has notified TheIFC Nigerian vide the gas feed stock for its TOTAL OUTSTANDING VALUE Stock Exchange (NSE) that it planned energy city in Delta had signed a Production Shar- State , which Description will comprise Rating/Agency Issuer ing Contract (PSC) with the its 1000MW capacity TransNigerian National Petroleum corp Ughelli Power Plant, and FGN Eurobonds Corporation (NNPC) for the proposed fertiliser and petro6.75 JAN 28, 2021 BB-/Fitch; B+/S&P development of its oil block chemical plants. BB-/Fitch; FGN 12, 2018 OPL 281. Transcorp5.13 isJUL also partnerBB-/S&P Transcorp won the block in ing with Energy Equity ReBB-/Fitch; 6.38 JUL 12, 2023 theBB-/S&P 2007 bid round and paid sig- sources – a Nigerian oil and TOTALbonus OUTSTANDING VALUE nature of USD30million gas developer – and SacOil – an to Corporate the Federal Government. independent African oil and Eurobonds With the signing of the PSC, gas company based in South 11.50 FEB 01, 2016 B-/S&P; B/Fitch AFREN PLC I Transcorp will now proceed Africa – in the and 7.50ownership MAY 19, 2016 GTBANK PLC I B+/S&P; B+/Fitch with its drilling plans for this development of OPL 281. 6.00 NOV 08, 2018 GTBANK PLC prolific 100mm Transcorp7.25 currently JUL 25, 2017 holds B+/S&P block with over ACCESS BANK PLC 6.88 MAYinvestments 09, 2018 barrels of proven P1 andBANK 2PPLC strategic portfolio B/S&P; B/Fitch FIDELITY TOTAL OUTSTANDING VALUE


17.00 simultaneously,” 05-Aug-14 NSE he 0.24 add6.00 15-Oct-14 0.44 ed. 8.50 31-Aug-15 1.31 Orjiako said Seplat was a 16.50 30-Sep-15 0.91 leader among the emerging 13.00 30-Jun-16 1.21 indigenous Nigerian oil 1.22 and 18.50 30-Jun-16 57.00 operators. 19-Apr-17 2.95 gas 50.00 30-Jun-17 1.78 “Our company was founded 25.00 31-Dec-17 3.65 by Nigerians for the purpose 50.00 30-Sep-18 2.62 9.00 20.00 12.00 27.00 20.00 80.00 30.00 11.40 87.00 5.00 5.00 5.00

04-Oct-18 09-Dec-18 12-Dec-18 14-Feb-19 02-Oct-19 22-Nov-19 12-Dec-19 30-Sep-20 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21

4.41 2.62 2.62 3.20 3.27 5.54 3.24 3.95 6.55 6.65 3.95 3.99

99.55 oil of 4.88 investing15.38 in Nigerian 5.99 16.74 98.83 we and gas opportunities and 16.46 95.44 are4.44 proud to have been the 3.23 14.93 98.74 first Nigerian company 4.46 16.43 97.52 to acquire and 15.46 become operator 3.48 100.41 18.11and gas82.08 of 5.59 onshore oil assets 7.60 19.83 91.21 from international oil compa1.79 14.34 99.01 nies,” 1.80 he said. 14.25 99.61 1.00 1.00 1.21 1.00 2.46 1.94 2.74 2.74 1.00 1.94 1.44 1.95

13.57 13.45 13.66 13.54 15.00 14.55 15.28 15.30 13.63 14.58 14.00 14.51

101.35 102.39 113.00 102.44 101.34 99.81 98.76 98.48 99.41 101.71 109.93 109.60

‘Fidelity Bank to deepen participation in energy' Chris Ugwu


572.90 n a bid boost its balance sheet

and expand distribution network, Fidelity Bank Plc0.41 has 07-Oct-14 18-Dec-14deepen 0.61 said that it would par31-Dec-14 ticipation in energy and0.65oil 17-Aug-15 0.79 and gas sector of the economy . 09-Dec-15 0.87 The Managing Director 06-Jan-16 0.95of 29-Sep-16 Okonkwo, 2.39 the bank, Nnamdi 25-Oct-16 the bank’s 2.46 said this during 30-Sep-10 13.00 30-Sep-17 3.39 ‘Facts Behind the Figures’ in 30-Nov-12 18.00 30-Nov-17 2.01 Lagos. 09-Apr-11 16.00 09-Apr-18 2.17 He also 09-Sep-18 said the bank 09-Sep-11 18.00 2.33 09-Sep-11 16.00 09-Sep-18 2.33 would take position in other 22-Sep-11 14.00 22-Sep-18 fast growing sectors of 4.37 the 18-Oct-13 15.75 18-Oct-18 2.44 economy by leveraging its en17-Feb-12 17.00 17-Feb-19 2.53 in the14-Nov-13 hospitality, agribusiness hanced balance sheet and6.52 ex15.25 14-Nov-20 and energy sectors. Its busi- 175.67 panded distribution network nesses include Transcorp Hil- to drive the market. ton Hotel, Abuja; Transcorp Okonkwo said as part of 11-Feb-13 12.00 11-Feb-18 3.76 Metropolitan Hotel,10.20 Calabar; its commitment to increase 12.00 Ughelli Power Plc, Teragro shareholders’ value and enCommodities Limited, opera- hance profitability, the bank Issue Date Coupon (%) Issue Value ($'mm) Maturity Date Bid Yield (%) tor of Teragro Benfruit plant - has unfolded plans to reposiNigeria’s first-of-its-kind juice tion its business operations concentrate plant; and Trans- by strengthening its role in 07-Oct-11 6.75 500.00 28-Jan-21 4.97 corp Energy Limited. SMEs and retail segment in 18-Dec-09 5.13 500.00industry.12-Jul-18 4.25 The company recently re- the leased its first quarter 2014 500.00 He explained that deepen01-Apr-10 6.38 12-Jul-23 5.40 earnings to the investing pub- ing its focus on these areas lic with a 278 per cent growth 1,500.00 would attract the unbanked in profit after tax. segment, which would help The group profit after tax the bank to01-Feb-16 mobilise cheap 01-Feb-11 11.50 450.00 4.07 (PAT)19-May-11 grew by 2787.50 per cent deposits. 500.00 19-May-16 5.29 from08-Nov-13 N834 million in Okonkwo08-Nov-18 identified 6.19 the 6.00Q1 2013 400.00 to N3.15 billion first bank’s major 25-Jul-12 7.25quarter 350.00 25-Jul-17challenges, 6.91 09-May-13 6.88 300.00 02-May-18 negatively ended March 31, 2014. which impacted 8.27

NNPC contract: Transcorp notifies NSE Chris Ugwu

117.65 108.00 113.50 97.04 70.45 79.60

4,264.84 Issuer

Monday, May 12, 2014

27-Jan-22 14-Mar-24 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30

11.80 13.17 2.00 15.00 37.50 1.50 15.00 5.53 20.00 0.94 8.01 3.63 1.00 35.00 3.00 0.54 2.05

on the 2013 financial performance to include; AMCON claw back of N4.4billion on the previously sold loans, one-off additional provision of 1.00 N1.8billion 11.72in respect 99.87 of 5.21 16.27 actuarial valuation on98.40 gratu19.85 98.27 ity8.71 and pension obligations, 4.88 16.33 95.56 increase in 12.61 cost of deposits 1.00 99.68 due to tightening monetary 2.63 14.41 100.05 1.00 13.41 99.15 conditions among others. 1.34 13.76 that the 100.97 He explained bank 4.52 89.81 is targeting a17.06 six per cent in1.88 14.21 107.65 crease in net interest margin 3.48 15.84 100.44 and5.2010 per cent in Re17.60 growth 101.03 5.06on Earnings. 17.46 101.95 turn 3.06 15.63 is interested 94.92 “If anybody 14.71 102.12 in 2.29 buying a stock that shows 6.11 18.55 97.35 consistent return, stable man2.76 15.39 99.42 agement, stable liquidity and increased capital base, it is a good time now to buy Fidelity 1.00 13.55 90.33 bank stock because we are taking this bank somewhere,” he assured. Offer Yield (%) Bid Price Offer Price The Fidelity Bank boss, whoPrices pointed out that the bank & Yields was poised to continuously in4.82 110.03 110.94 crease its operating efficiency 4.05 103.29 104.09 through consistent business processes, also expressed op106.98 5.28 107.88 timism that the lender would extend the leverage on the value chain of its corporate banking3.37 to extract112.17 maximum value 113.42 from the commercial and re4.37 104.17 105.97 tail5.92businesses to achieve a 99.28 100.32 50:50 6.54 loan split 100.94 between 102.00corporate and commercial loan. 7.71 95.33 97.17


10.25 APR 08, 2019









6.25 APR 22, 2019









B/S&P; B-/Fitch


8.25 AUG 07, 2020









B+/S&P; B+/Fitch


6.63 DEC 09, 2020






B/Fitch B+/Fitch; BB-/S&P

09-Dec-13 6.63 FMDQ Daily Quotations List




The FMDQ Daily Quotations List (DQL) comprises market and model prices/rates of foreign exchange ($/N) products, fixed income securities and instruments in the OTC market. The use of this report is subject **Treasury Bills FIXINGS Money Market Foreign Exchange (Spot & Forwards) to the FMDQ OTC PLC TermsMaturity of Use and Disclaimer Statement. Offer Discount (%) DTM Bid Discount (%) Bid Yield (%) Tenor Rate (%)

13 20 FGN Bonds27 41 48 Rating/Agency 55 62 69 76 83 90 97 104 111 118 153 NA 209 244 258 272 286 300 335 349 363

22-May-14 29-May-14 5-Jun-14 19-Jun-14 26-Jun-14 Issuer 3-Jul-14 10-Jul-14 17-Jul-14 24-Jul-14 31-Jul-14 7-Aug-14 14-Aug-14 21-Aug-14 28-Aug-14 4-Sep-14 9-Oct-14 NA 4-Dec-14 8-Jan-15 22-Jan-15 5-Feb-15 19-Feb-15 5-Mar-15 9-Apr-15 23-Apr-15 7-May-15

10.00 10.00 10.00 10.20 9.85 Description 10.05 9.75 10.10 9.20 29-JUN-2014 10.15 9.25 28-SEP-2014 10.15 4.00 23-APR-2015 10.00 13.05 16-AUG-2016 10.20 15.10 27-APR-2017 10.20 9.85 27-JUL-2017 10.30 9.35 31-AUG-2017 10.60 10.45 10.70 30-MAY-2018 10.35 16.00 29-JUN-2019 10.95 7.00 23-OCT-2019 10.75 16.39 27-JAN-2022 11.00 14.20 14-MAR-2024 10.85 15.00 28-NOV-2028 10.95 10.95 12.49 22-MAY-2029 11.00 8.50 20-NOV-2029 10.90 10.00 23-JUL-2030

9.75 9.75 9.75 9.95 9.60 Issue Date 9.80 9.50 9.85 29-Jun-07 9.90 28-Sep-07 9.90 23-Apr-10 9.75 16-Aug-13 9.95 27-Apr-12 9.95 27-Jul-07 10.05 31-Aug-07 10.35 10.20 30-May-08 10.10 29-Jun-12 10.70 23-Oct-09 10.50 27-Jan-12 10.75 14-Mar-14 10.60 28-Nov-08 10.70 10.70 22-May-09 10.75 20-Nov-09 10.65 23-Jul-10

10.04 10.06 10.07 10.32 9.98 Coupon 10.20(%) 9.91 10.30 9.20 10.37 9.25 10.39 4.00 10.25 13.05 10.48 15.10 10.51 9.85 10.63 9.35 10.98 10.93 10.70 11.00 16.00 11.81 7.00 11.63 16.39 11.98 14.20 11.86 15.00 12.03 12.17 12.49 12.29 8.50 12.23 10.00


the average is Risk Premium is a life combination of credit risk and liquidity risk premiums **Exclusive of non-trading t.bills

Agency Bonds AMCON FMBN



Modified Duration Buckets

TOTAL OUTSTANDING VALUE Sub-National Bonds A/Agusto A-/GCR A+/Agusto A/Agusto Nil A+/Agusto A+/Agusto; A+/GCR A-/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto; A-/GCR†




Issue Date

0.00 AMCON 31-OCT-2014 (SR.5 TR.1) 0.00 FMB 24-MAY-2015 17.25 FMB II 03-APR-2017 0.00/16.00 LCRM 09-DEC-2016 0.00/16.50 LCRM II 20-APR-2017 Porfolio Market Total Outstanding 0.00/16.50 LCRM III 06-JUL-2017 Value(Bn)

919.60 1,100.23 14.00 KWARA 5-AUG-2014 470.89 14.00 NIGER 15-OCT-2014 2,490.72 12.50 KADUNA 31-AUG-2015 13.00 EBONYI 30-SEP-2015 14.00 BENUE 30-JUN-2016 15.50 IMO 30-JUN-2016 10.00 LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 14.00 EDO 31-DEC-2017 14.00 DELTA 30-SEP-2018 14.00 NIGER II 4-OCT-2018 14.50 EKITI 09-DEC-2018

Tenor O/N 1M 3M Value Outstanding 6M


Rate (%) 10.6250 12.4890 13.2209 Maturity Date 14.0581

45.00 100.00 NITTY 535.00 Tenor 435.27 1M 452.80 2M 20.00 3M 100.00 6M 9M 300.00 12M 351.30 233.90 600.00 NIFEX 75.00 75.00 Current Price ($/N) BID($/N) 150.00 OFFER200.00 ($/N) 591.57

29-Jun-14 28-Sep-14 23-Apr-15 Rate (%) 16-Aug-16 10.0367 27-Apr-17 10.0451 27-Jul-17 10.2528 31-Aug-17 10.9312 11.9872 30-May-18 12.1306 29-Jun-19 23-Oct-19 27-Jan-22 14-Mar-24 28-Nov-28 161.1000 22-May-29 161.2000 20-Nov-29 23-Jul-30





TTM (Yrs) Tenor Call 1M 0.14 3M 0.39 6M 0.96

REPO BidRate Yield (%) (%) 10.25

Tenor Spot 7D Offer14D Yield 1M (%) 2M 3M 9.28 6M 10.23 1Y 11.19

11.77 10.33 12.69 10.64 13.76 11.79 2.27 12.53 12.45 NOTE: 2.97 12.59 12.53 3.22 12.54 12.41 :Benchmarks 3.31 Bond 12.54 12.42 * :Amortising µ :Convertible 4.06 Bond 12.56 12.46 AMCON:5.14 Asset Management Corporation of12.60 Nigeria 12.67 FGN: Federal Government of Nigeria 5.46 12.60 12.51 FMBN: Federal Mortgage Bank of Nigeria 7.72 12.72 12.67 IFC: International Finance Corporation 9.85 Contractors Receivables 12.74 12.69 LCRM: Local Management 12.88 NAHCO:14.56 Nigerian Aviation 12.92 Handling Company 15.04 12.94 12.89 O/N: Overnight UPDC: UAC Property Development Company 15.53 12.96 12.90 WAPCO:West Africa Portland Cement Company 16.21 13.05 13.00

Bid ($/N) 161.15 161.40 161.65 Bid162.24 Price 163.39 164.71 99.80 168.31 99.44 175.27 93.14

Offer ($/N)


161.25 161.67 162.03 Offer Price 162.97 164.71 166.70 99.95 172.53 99.59 184.34 93.64

100.95 101.10 106.05 106.20 93.02 93.32 NA :Not Applicable 91.54 Rate Bond 91.84 # :Floating ***: Deferred 94.20 coupon bonds 94.50 112.25 112.55 †: Bond rating expired 78.35 78.65 117.65 117.95 108.00 108.30 NGC:113.50 Nigeria-German 113.80 Company UBA: 97.04 United Bank for Africa 97.34 70.45 70.75 79.60 79.90


# bonds,





888.07 951.30 591.57 2,430.94

28-Dec-11 24-May-10 03-Apr-12 09-Dec-11 20-Apr-12 Weighting 06-Jul-12by

Outstanding Vol


Issue Value (N'bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Indicative Price

0.00 978.35 0.00 24.56 FMDQ 17.25 FGN BOND INDEX 6.00 0.00/16.00 112.22 0.00/16.50 116.70 Weighting by Mkt 0.00/16.50 Bucket66.49 Weighting

31-Oct-14 24-May-15 03-Apr-17 09-Dec-16 20-Apr-17 %06-Jul-17 Exposure_

0.48 1.04 1.53 2.59 2.95 3.16Yield Implied

1.00 2.63 2.27 2.00 1.49 Implied 1.00

11.81 14.53 14.39 14.45 14.01 13.53 INDEX

94.68 86.41 103.96 94.57 91.66 YTD Return 90.24

Coupon (%)





39.13 05-Aug-09 15-Oct-0924.33 100.00 31-Aug-10

14.00 44.17 14.00 18.91 12.50100.00

30-Sep-10 30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 30-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11

13.00 14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50

17.00 6.00 8.50 16.50 13.00 18.50 57.00 50.00 25.00 50.00 9.00 20.00

0.37 0.39 0.24 1.00




05-Aug-1439.60 15-Oct-1441.04 100.00 31-Aug-15

0.2412.71 0.4413.05 1.3112.82

30-Sep-15 30-Jun-16 30-Jun-16 19-Apr-17 30-Jun-17 31-Dec-17 30-Sep-18 04-Oct-18 09-Dec-18

0.91 1.21 1.22 2.95 1.78 3.65 2.62 4.41 2.62

Portfolio Price

112.3677 125.9819 4.88 87.6454 5.99 111.6792 4.44 3.23 4.46 3.48 5.59 7.60 1.79 1.80 1.00 1.00




1,066.77 15.38 1,061.02 16.74 1,059.69 16.46

6.6766 99.55 6.1018 98.83 5.9690 95.44

14.93 16.43 15.46 18.11 19.83 14.34 14.25 13.57 13.45

98.74 97.52 100.41 82.08 91.21 99.01 99.61 101.35 102.39


SKILL GAP Insurers move to boost manpower Sunday Ojeme


takeholders in the insurance industry are currently on the edge over the expected take-off of the nation’s College of Insurance next month. In order to nip every obstacle in the bud, they have been putting heads together to ensure that the promised take-off date is not extended. Last Friday, a marathon meeting was convened at the office of the Chartered Insurance Institute of Nigeria where the stakeholders comprising the DirectorGeneral, Nigeria Insurers Association, Mr. Sunday Thomas, the Director-General, CIIN, Mr. Kola Ahmed, the President, CIIN, Fatai Lawal, and the college Rector, Dr. (Mrs.) Yeside Oyetayo, among others, gathered to put finishing touches to events leading to the school’s opening New Telegraph gathered from a source that was privy to the meeting that the issues discussed basically centered on the need to ensure that those admitted were given the right learning atmosphere. CIIN DG's perspective The Director-General, CIIN, had disclosed early in the year that the college was set to commence academic activities any moment from June this year as structures for the institute were already in various stages of completion. Ahmed said that the first phase, which includes the admin/multipurpose, the restaurant and three chalets had been ready since May 2013 while the second phase was also completed last year. He said that six other structures were added to the third and final phase, which includes 50 bedroom hall of residence, one storey two numbers three-bedroom quarters for senior staff and four units of chalet which were expected to have been completed before the end of April. The remaining buildings under constructions are one-twin duplex that will serve as the Rector’s lodge and three additional chalets. Ahmed stressed that efforts to get the institute to the current level represented an uninhibited commitment towards actualising the college project and ultimately launching it for full take off. He pointed out that in line with the institutes' resolve to promote transparency, accountability and prudent management of resources placed at its disposal, CIIN leadership had in the last few months ensured that the resources of the institute were judiciously applied. Ahmed said: “As we speak, the institute is not indebted to any contractor or supplier as we meet our commitments as they arise. Also in the last seven months, the institute has committed close to N100 million in accelerating the development of the College of Insurance and Financial Management. “The institute has also, following the directive of the Finance and General Purposes Committee of Council, established a sinking fund (reserved fund) with a combined sum of N20 million. The reserve is funded from the surpluses generated by the institute.” He noted that the institute has also received greater support from the National Insurance Commission (NAICOM). He lauded the commissioner for Insurance, Fola Daniel, for his support which has gone a long way to reinforce the institute’s educational programmes more than ever before. Rector's view In the same vein, Dr. Oyetayo, who


Sanctity of Truth

Monday, May 12, 2014

Stakeholders in last minute brainstorming over CoI take-off

Chairman, Nigerian Insurers Association, Mr. Remi Olowude

DG, CIIN, Kola Ahmed



resumed a few weeks back, had pledged to enhance the manpower needs of the sector by raising notable and first-class insurance professionals, saying that the college would exploit all available opportunities to raise professionals that will take the insurance and financial sectors to the next level. To achieve this, the college is expected to partner reputable academic institutions within and outside Nigeria to strengthen the industry’s man power. Oyetayo said: “We are preparing for the commissioning of the college, hopefully; very soon, we will kick-off with the planned activities. Basically, the main objective of the college is to boost the man power need of the insurance and finance industries in Nigeria; we will be committed to developing programmes that would strengthen the man power needs of the industries. “We are very sensitive in meeting the needs of the industries and that is why the college will be collaborating with other institutions. Part of our programmes would be partnering institutes abroad in order to meet this man power need. We intend to partner colleges, institutes and universities within and outside Nigeria for this purpose. Definitely, the college is up to the task of raising first class professionals.” The industry stakeholders’ desire to promote insurance education is also being taken to the grassroots. Not long ago,

the National Insurance Commission and the CIIN embarked on a campaign that will inculcate the values of insurance in Nigerian students. The awareness campaign is part of the regulators’ steps to deepen penetration, especially in the grassroots where the benefit of insurance is still unknown to the larger populace in that segment of the society. While NAICOM collaborated with an insurance firm in spreading the campaign through the recently rejigged micro-insurance, CIIN is providing a platform for collaboration among stakeholders who intend to spread the message of insurance across various schools. Regulator's comments The Commissioner for Insurance, Mr. Fola Daniel, said that the commis-

The college is expected to partner reputable academic institutions within and outside Nigeria to strengthen the industry’s man power

President, Chartered Insurance nstitute of Nigeria, Mr Fatai Lawal.

sion was partnering an insurance firm to educate school pupils on the need for insurance in their daily activities. He disclosed that a firm sought approval from the commission to conduct awareness campaign on microinsurance in schools, adding that the commission, having considered the benefits of the initiative, decided to partner the organisation to achieve the feat. According to him, the commission will always support such projects that will bring growth and development to the industry. He pointed out that NAICOM had always invited operators to make use of opportunity provided to enhance their fortunes and better the industry. On its part, the CIIN is developing programmes to enrich insurance subjects in secondary schools and to this end, it has gone into partnership with Joseph Ayo Babalola University to conduct retraining programme for insurance teachers. Ahmed, was quoted as saying that the institute was organising the programme to equip the teachers for better teaching of the subject in schools, adding that the institute will continue to interact with stakeholders in schools. He said that modalities for the exercise are to be jointly worked out between the institute and the university, which is renowned for such programme. Supporting the school insurance project, the institute spent N4 million to publish an insurance book, which over 2000 copies were donated to schools. CIIN president was also impressed that the council of the institute had approved the donation of some copies of the book to each of the over 2,000 public secondary schools in Nigeria. He said: “This, we believe, is a significant step in the current campaign to facilitate the teaching and learning of insurance in secondary schools.” He noted that the publication of the book offered a unique opportunity for advancing one of the cardinal programmes of the institute which is the promotion of insurance education in Nigeria, adding that it would also herald a new dawn in insurance education by entrenching insurance in the consciousness of secondary school students.


Sanctity of Truth

Monday, May 12, 2014

WELLNESS Nigerians advised to take advantage of opportunities provided through NHIS Sunday Ojeme


he reduction in the rate of deaths during pregnancy and child birth by Nigerian women has been attributed to Federal Government’s unwavering financial support for the National Health Insurance Scheme project. Although Nigerians are yet to fully take advantage of the scheme initiated to mitigate their medical expenses, the Executive Secretary, Dr Femi Thomas, said that the Federal Government had spent over N1 billion on the scheme for promoting maternal and child health in reducing unnecessary deaths.

Maternal health: FG commits over N1bn into insurance He noted that government established the scheme due to the alarming number of children that died during pregnancy and before age five, stressing that Nigerians should help themselves by enrolling in the scheme. According to him, the incessant deaths among this category of people have become a recurring decimal, as about 39,000 women died before the intervention of NHIS. He said: "Hospital is beyond the reach of women, especially in rural areas and some do not have access to drugs; hence government directed that women and children under five years be treated where

CIIN uses fitness walk as awareness campaign tool


he annual fitness walk of the Chartered Insurance Institute of Nigeria (CIIN) will take place in Lagos this weekend. CIIN Head, Corporate Affairs, Joseph Obah, said in a statement that the walk had become an annual event with vast opportunities for insurance awareness. Obah noted that this year's edition of the walk would commence from the premises of Guinea Insurance Plc, Jibowu, and terminate at the National Arts Theater, Iganmu. According to him, insurance practitioners are expected to participate in the walk wearing the colours of the Chartered Insurance Institute of Nigeria. Obah added that participants are also expected to display the banners of their re-

spective companies while also distributing handbills with information on their companies and their offerings. CIIN's Director General, Kola Ahmed, said that it was an event no insurance company should miss, as it remains a veritable platform for reaching out to members of the insuring public in a most unique way. Ahmed said that the walk provides ample opportunities for physical fitness, especially for executives with busy business schedules. Describing the event as a worthwhile experience, the President, CIIN, Fatai Kayode Lawal, called on insurance executives to participate in the walk, saying that the walk could not be ignored for whatever excuses except for unavoidable reasons.

AIG had Cuba ties while owned by US


merican International Group Inc. (AIG) sold coverage to clients with ties to Cuba, a nation sanctioned by the United States, when the insurer was owned by American taxpayers after its 2008 bailout. The insurer agreed to a $279,038 settlement after telling regulators that it violated sanctions, according to a statement from the US Treasury Department’s Office of Foreign Assets Control. AIG units sold polices from 2006 through late March of 2009 guarding a Canadian client against risks in Cuba, including pollution liability, according to the statement. The insurer was rescued on September 16, 2008, and repaid the US in 2012. “AIG, including certain members of the institution’s management, had actual knowledge of the conduct,” according to the statement. “The compliance programs of AIG’s two

Canadian subsidiaries were inadequate.” AIG also sold travel coverage to Canadians taking trips to the island from March 17, 2006, to September 30, 2008, OFAC said. The premiums collected were about $338,000 on the travel policies and over $500,000 for commercial policies, which also included protection for jointventure partners of a Canadian corporation in 2006, according to the statement. OFAC said that it took into account the company’s cooperation and considers the case “non-egregious.” “Upon identifying and voluntarily disclosing these matters, AIG implemented comprehensive improvements to its global sanctions compliance program, including improvements targeted to more effectively address applicable sanctions laws,” Matt Gallagher, a spokesman for AIG, said in a statement.

such programmes exist." He also revealed in Abuja that a school programme would soon be inaugurated to widen the scope of the scheme, saying that the programme would enable primary and secondary school pupils from age six to 12 years benefit from services of the scheme. Thomas said that the school programme would add about 24 million enrolments to beneficiaries of the NHIS, adding that plans were also on to include students of tertiary institutions into the scheme. This, he said, would help to fast-track the objective of achieving universal access to healthcare. "Children in primary schools will be treated free. It is our hope that the free health programme will enlist 14 million children nationwide."

He said that 12 out of the 36 states of the federation had embraced community-based health insurance programme, adding that efforts were on to encourage other states to key into it. Thomas said that 33,000 pregnant women had benefited from the scheme’s maternal/newborn and child health programme in the first quarter of 2014, as opposed to the 11,000 that benefited in 2013. It was learnt that the scheme had also inaugurated NHIS-MDG Users Satisfaction Survey (USS) to gauge the opinion of enrollees on areas for improvement. The survey will take place in primary healthcare centres across the country. Only recently, the NHIS teamed up with telecommunication provider, MTN and Salt

& Einstein MTS to develop mobile universal health insurance service known as Y'ello Health. The service will seek to provide affordable health insurance cover on a pre-paid basis. Through the Y'ello Health, mobile subscribers will be able to opt into a micro healthcare insurance scheme with Health Management Organisations using their mobile phones for a range of pre-defined medical treatments for which affordable premium could also be remitted through their mobile phone. MTN Nigeria CMO, Larry Annetts, said that the focus market for the Y'ello Health cover were Nigerians who have no health insurance because of their inability to afford the regular health insurance services in the market.

L-R: Head, Corporate Responsibility and Sustainability, First Bank, Mr. Ismail Omamegbe; President, Rotary Club of Victoria Garden City, Mrs. Victoria Kuteyi-Ogundemuren; Immediate Past President, Rotary Club of Victoria Garden City and former Managing Director, First Bank, Mr. Joseph Sanusi; and Headmistress, Langbasa Primary School, Ajah, Mrs. Okebiorun, at the commissioning of First Bank's funded potable water project at Langbasa Primary School, Ajah, Lagos.

Brown Card: Underwriters move to hasten claims payments


igerian insurers and their West Africa counterparts have resolved to put an end to the trauma experienced by travellers in getting their claims paid promptly, a development that has grossly affected the ECOWAS Brown Card Insurance Scheme over the years. As part of the new arrangement, they have decided to put in place a compensation fund which they can use to pay claims under the scheme, having realised that slow payment of such claims is one of the main hindrances to the scheme. The Brown Card Insurance Scheme is basically a third party liability cover whereby members undertake to provide compensation for accidental damage to property, bodily injury and death arising from the use of motor vehicle within the Ecowas sub-region. The scheme was established in 1982 and signed

by sixteen ECOWAS member states in Cotonou, Benin Republic, with the objectives of enhancing the free movement of road users, and to foster real regional integration. Over 70 senior insurance practitioners from the 16 countries in West Africa agreed to set up the fund during the 6th Extra-ordinary General Assembly of the Council of Bureau of the Ecowas Brown Card Insurance Scheme, in The Gambia. Per manent SecretaryGeneral at the secretariat of the Council of Bureau of the Ecowas Brown Card, Bio Adamou, said that the slow payment of claims is even contrary to the very spirit of the provisions of the Ecowas protocol that established the scheme. The protocol says that the scheme has to be based on prompt and fast settlement of claims. “So instead of fast payment, things

are slow,” Adamou lamented. The Secretary-General of the Gambia National Bureau, Henry Jawo, stated that even though the protocol requires claim payment process to be fast, national bureaux lack the resources to be able to promptly settle claims, adding that they have to wait for the insurance company that issued the insurance cover to settle the claim first, before they (the bureau) can settle it. The main cause of the delay in payment, he said, “is that the arrangement is slow. “It was because of this reason that the Brown Card Council of Bureau urged all national bureaux to do their best to put in place the compensation fund. With the establishment of this fund, national bureau can pay claims quickly and later the insurance company that issued the cover will reimburse them,” Jawo noted.


Sanctity of Truth

Monday, May 12, 2014

Daily Summary as of 09/05/2014 Printed 09/05/2014 15:15:57.057

Daily Summary as of 09/05/2014

Printed 09/05/2014 15:15:57.057

The Nigerian Stock Market Exchange as at May 9, 2014 Daily Summary (Equities)

Daily Summary (Bonds)

Activity Summary on Board DEBT State and Local

Bond Name 14.75% OSUN OCT 2020 State and Local Totals

Activity Summary on Board EQTY

Symbol OSB2020S2

DEBT Board Totals

No. of Deals 1 1

Current Price 103.97


Bond Activity Totals


Quantity Traded 35,000 35000


Value Traded 36,853,851.31 36,853,851.31





Daily Summary (Equities)

Activity Summary on Board EQTY

Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties Daily Summary as of 09/05/2014 LIVESTOCK FEEDS PLC. Printed 09/05/2014 15:15:57.057

Livestock/Animal Specialties Totals


No. of Deals 62 27 89

Current Price 35.33 35.20

Quantity Traded 309,298 717,379 1,026,677

Value Traded 10,961,550.63 25,251,790.80 36,213,341.43


No. of Deals 19 19

Current Price 3.47

Quantity Traded 469,311 469,311

Value Traded 1,590,750.30 1,590,750.30


37,804,091.73 Value Traded 45,659.79


Activity Summary on Board EQTY Published by The Nigerian Stock Exchange © CONGLOMERATES



Daily Summary (Equities) Symbol AGLEVENT

No. of Deals 6

Current Price 1.60

Quantity Traded 27,739


No. of Deals 3 1 175 54 239

Current Price 3.95 1.21 3.67 56.00

Quantity Traded 1,100 2,216 15,578,203 325,347 15,934,605

Value Traded 4,136.00 2,548.40 57,173,985.40 18,235,961.91 75,462,291.50




CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Building Construction ARBICO PLC. Building Construction Totals





No. of Deals 2 2

Current Price 5.30

Quantity Traded 8 8

Value Traded 42.40 42.40


No. of Deals 14 14

Current Price 1.30

Quantity Traded 257,587 257,587

Value Traded 332,862.94 332,862.94


No. of Deals 22 22

Current Price 68.50

Quantity Traded 121,411 121,411

Value Traded 8,721,752.86 8,721,752.86


No. of Deals 44 44

Current Price 23.00

Quantity Traded 39,855,900 39,855,900

Value Traded 916,666,415.75 916,666,415.75


No. of Deals 1 1

Current Price 47.59

Quantity Traded Page 330 330

Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals Daily Summary as of 09/05/2014Construction Infrastructure/Heavy Printed 09/05/2014 15:15:57.057

JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals

Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals Activity Summary on Board EQTY

Daily Summary (Equities)


Real Investment Trusts © (REITs) Published by TheEstate Nigerian Stock Exchange



Activity Summary on Board EQTY

Published by The Nigerian Stock Exchange © CONSUMER GOODS




No. of Deals 1 1 56 38 96 192

Current Price 13.79 0.68 180.00 25.00 149.00

Quantity Traded 20 300 390,716 539,784 1,000,667 1,931,487

Value Traded 288.00 213.00 70,329,069.80 13,519,352.49 148,590,145.40 232,439,068.69

Symbol 7UP

No. of Deals 15 15

Current Price 82.00

Quantity Traded 157,108 157,108

Value Traded 12,872,355.44 12,872,355.44

No. of Deals 36 36 36 23 (Equities) 3 56

Current Price 8.00 9.20 69.00 3.77 0.50 12.45

Quantity Traded 2,248,925 935,695 423,960 506,780 837,076 6,916,809

Value Traded 17,959,163.10 8,612,563.10 29,244,157.88 1,910,705.30 418,538.00 88,773,122.16





No. of Deals 1 3 194

Current Price 14.11 0.51

Quantity Traded 200 60,800 11,930,245

Value Traded 2,682.00 32,114.00 146,953,045.54

Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals


No. of Deals 44 45 89

Current Price 71.32 1,070.00

Quantity Traded 127,122 75,147 202,269

Value Traded 8,891,725.07 80,215,700.59 89,107,425.66

Household Durables VITAFOAM NIG PLC. Household Durables Totals


No. of Deals 8 8

Current Price 4.18

Quantity Traded 64,200 64,200

Value Traded 264,711.00 264,711.00

Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Daily Summary as of 09/05/2014Products Totals


No. of Deals 52 40 92

Current Price 35.50 48.68

Quantity Traded 557,767 344,526 902,293

Value Traded 19,782,744.44 16,790,713.40 36,573,457.84



Quantity Traded 6,286,392 3,004,660 566,450

Value Traded 56,906,311.06 19,572,988.49 7,370,895.74

Printed CONSUMER 09/05/2014 15:15:57.057 GOODS Totals

Activity Summary on Board EQTY FINANCIAL SERVICES Published by The Nigerian Stock Exchange © Daily Summary as of 09/05/2014 Banking Printed 09/05/2014 15:15:57.057


Activity Summary on Board EQTY


590 Symbol


Symbol No. of Deals FIDELITYBK 85 GUARANTY 313 SKYEBANK 116 Daily Summary (Equities) STERLNBANK 47 UBA 177



FINANCIAL SERVICES Published by The Nigerian Stock Exchange © Insurance Carriers, Brokers and Services UNIVERSAL INSURANCE COMPANY PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals

No. of Deals 141 60 38

ACCESS Daily Summary (Equities)

Current Price 9.08 6.53 13.00




Current Price 1.90 26.85 3.66 2.20 6.77

Quantity Traded 5,704,949 16,714,187 12,550,728 4,218,396 11,995,654

Value Traded 10,960,308.60 448,680,776.36 46,228,124.39 9,268,093.29 81,107,581.93

No. of Deals 47 5 37 253 1,319

Current Price 10.19 0.50 0.97 22.63

Quantity Traded 1,420,672 1,002,800 2,240,594 54,013,665 119,719,147

Value Traded 14,283,709.77 501,400.00 2,190,339.25 1,228,633,927.19 1,925,704,456.07

No. of Deals 1 31 24 10 1 13 1 2 5 3 27 1 9 4 (Equities) 1 2 1

Current Price 0.50 0.80 1.04 0.50 0.50 0.51 0.50 0.50 2.34 0.50 0.82 0.50 0.53 0.58 0.50 0.50 0.50

Quantity Traded 3,000 1,724,274 2,102,300 301,850 500 588,335 188 2,100 65,572 3,100 2,405,903 200 Page 2,880,000 15,882 1,000 30,100 100 Page



No. of Deals 5 72 213

Current Price 0.50 0.79

Quantity Traded 10,002,000 9,843,958 29,970,362

Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals


No. of Deals 35 35

Current Price 0.95

Quantity Traded 4,406,582 4,406,582

Value Traded 4,219,122.73 4,219,122.73

Mortgage Carriers, Brokers and Services ABBEY MORTGAGE BANK PLC ASO SAVINGS AND LOANS PLC INFINITY TRUST MORTGAGE BANK PLC Mortgage Carriers, Brokers and Services Totals


No. of Deals 7 1 3 11

Current Price 1.35 0.50 1.61

Quantity Traded 880 500 3,800 5,180

Value Traded 1,135.20 250.00 5,942.00 7,327.20



No. of Deals 48 84 457 119 1 16 99 824

Current Price 3.10 2.93 13.03 3.70 0.62 22.00 2.31

Quantity Traded 1,356,316 10,457,042 21,309,463 8,371,559 100 2,047,501 14,860,211 58,402,192

Value Traded 4,187,809.06 30,370,392.93 277,212,861.05 30,729,864.82 59.00 45,037,059.32 33,833,365.68 421,371,411.86



Published by The Nigerian Stock Exchange ©



Value Traded 5,001,000.00 7,674,931.44 20,434,923.85



No. of Deals 18 37 12 18 3 (Equities) 1 89



Quantity Traded 22,600 Quantity Traded 22,600

Value Traded 15,368.00 Value Traded 15,368.00

Computers and Peripherals OMATEK VENTURES PLC Computers and Peripherals Totals


No. of Deals 1 1

Current Price 0.50

Quantity Traded 600 600

Value Traded 300.00 300.00


Symbol CWG

No. of Deals 3 3

Current Price 5.48

Quantity Traded 4,000 4,000

Value Traded 20,840.00 20,840.00

Processing Systems CHAMS PLC Processing Systems Totals

Symbol CHAMS

No. of Deals 1 1

Current Price 0.50

Quantity Traded 5,000 5,000

Value Traded 2,500.00 2,500.00

10 Symbol No. of Deals ASHAKACEM 93 BERGER 8 CAP 12 Daily Summary (Equities) CCNN 16 DANGCEM 72 DNMEYER 3

32,200 Page


39,008.00 of 15

Current Price 20.09 9.50 39.00 9.30 224.00 1.06

Quantity Traded 1,075,227 318,918 61,810 265,630 1,261,875 59,343

Value Traded 21,395,955.33 3,015,979.05 2,461,272.15 2,457,444.40 283,128,877.73 65,870.73 9Value Traded of 15 5,000.00 104,000.00 7,731.00 71,175,781.23 383,817,911.62


No. of Deals 1 3 3 53 264

Current Price 0.50 0.52 1.56 110.00

Quantity Traded Page 10,000 200,000 5,150 647,268 3,905,221

Electronic and Electrical Products AUSTIN LAZ & COMPANY PLC CUTIX PLC. Electronic and Electrical Products Totals


No. of Deals 1 5 6

Current Price 2.00 1.80

Quantity Traded 1,000 30,678 31,678

Value Traded 2,100.00 57,000.42 59,100.42

Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals


No. of Deals 3 3

Current Price 18.90

Quantity Traded 7,502 7,502

Value Traded 135,287.00 135,287.00


No. of Deals 5 5

Current Price 7.46

Quantity Traded 80 80

Value Traded 567.20 567.20



Current Price 6.47

Quantity Traded 100 100

Value Traded 615.00 615.00

Tools and Machinery NIGERIAN ROPES PLC Daily Summary as of 09/05/2014 Tools and Machinery Totals Printed 09/05/2014 15:15:57.057

NATURAL RESOURCES Chemicals B.O.C. GASES PLC. Chemicals Totals Activity Summary on Board EQTY


Daily Summary (Equities) Symbol No. of Deals BOCGAS

1 1

NATURAL RESOURCES Published by The Nigerian Stock Exchange © NATURAL RESOURCES Totals OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. Daily Summary asOIL of 09/05/2014 MRS NIGERIA PLC. Printed 09/05/2014 15:15:57.057 TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals

SERVICES Apparel Retailers Published by The Nigerian Stock Exchange © LENNARDS (NIG) PLC. Apparel Retailers Totals

Page 100



of 15 615.00


No. of Deals 12 12

Current Price 0.50

Quantity Traded 728,350 728,350

Value Traded 364,175.00 364,175.00

Symbol OANDO

No. of Deals 128 128

Current Price 16.00

Quantity Traded 4,259,581 4,259,581

Value Traded 68,114,790.49 68,114,790.49


No. of Deals 17 3 124 40 11 17 212

Current Price 49.20 3.61 148.99 135.87 51.72 155.35

Quantity Traded 20,989 11,100 312,842 362,240 11,200 28,055 746,426

Value Traded 981,624.37 38,073.00 42,553,128.44 48,367,244.29 550,368.00 4,362,617.15 96,853,055.25


No. of Deals 62 62

Current Price 682.33

Quantity Traded 200,761 200,761

Value Traded 138,931,485.47 138,931,485.47



SEPLAT Daily Summary (Equities)

OIL ANDSummary GAS Totals Activity on Board EQTY



No. of Deals 2 2

Current Price 3.31

Quantity Traded Page 10,000 10,000

Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals


No. of Deals 1 1

Current Price 1.19

Quantity Traded 1,562 1,562

Value Traded 1,780.68 1,780.68

Courier/Freight/Delivery RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals


No. of Deals 4 3 7

Current Price 4.51 2.13

Quantity Traded 84,300 10,150 94,450

Value Traded 380,058.40 20,628.50 400,686.90

Employment Solutions C & I LEASING PLC. Employment Solutions Totals


No. of Deals 3 3

Current Price 0.50

Quantity Traded 429,803 429,803

Value Traded 214,901.50 214,901.50


No. of Deals 2 5 2 9

Current Price 4.55 0.58 3.88

Quantity Traded 10 140,860 10 140,880

Value Traded 45.50 81,907.40 38.80 81,991.70

Current Price 1.80 1.64

Quantity Traded 100 776,090

Value Traded 171.00 1,265,625.80

Hotels/Lodging Daily Summary as of 09/05/2014 CAPITAL HOTEL PLC Printed 09/05/2014 15:15:57.057 IKEJA HOTEL PLC TOURIST COMPANY OF NIGERIA PLC. Hotels/Lodging Totals

Printing/Publishing ACADEMY PRESS PLC.

Activity Summary onPLC Board EQTY LEARN AFRICA SERVICES Published by Theas Nigerian Stock Exchange © Printing/Publishing Daily Summary of 09/05/2014 UNIVERSITY PRESS PLC. Printed 09/05/2014 15:15:57.057 Printing/Publishing Totals Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals


Value Traded 419,255.34 7,631,415.16 3,003,566.62 543,745.00 27,535.00 785.00 11,626,302.12

Current Price 0.71 Current Price

ICT Totals Published by The Nigerian Stock Exchange © Daily Summary as of GOODS 09/05/2014 INDUSTRIAL Printed 09/05/2014 15:15:57.057 Building Materials




Quantity Traded 162,300 3,222,790 42,835 319,850 23,500 500 3,771,775

No. of Deals 5 No. of Deals 5



Current Price 2.70 2.36 70.00 1.70 1.23 1.57

Symbol COURTVILLE Symbol


Value Traded 1,500.00 1,375,268.87 2,260,705.90 150,927.00 250.00 302,340.20 94.00 1,050.00 153,550.48 1,550.00 1,960,142.40 100.00 5 1,526,500.00 of 15 9,413.56 500.00 15,050.00 50.00




14,922.60 14,922.60



HEALTHCARE Totals ICT ICTComputer Based Systems COURTEVILLE Computer Based BUSINESS Systems SOLUTIONS PLC Computer Based Systems Totals

2Value Traded of 15

Food Products UNION DICON SALT PLC. U T C NIG. PLC. Food Products Totals



Activity Summary on Services Board EQTY Transport-Related SERVICES Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals

Daily Summary (Equities) Symbol No. of Deals ACADEMY LEARNAFRCA

1 31

Symbol UPL

No. of Deals 8 40

Current Price 3.97

Page Quantity Traded 268,887 1,045,077


No. of Deals 6 6

Current Price 0.84

Quantity Traded 503,000 503,000

Value Traded 422,560.00 422,560.00


No. of Deals

Current Price

Quantity Traded

Value Traded


No. of Deals 4 66 70

Current Price 2.24 5.07

Quantity Traded 71,817 1,942,231 2,014,048

Value Traded 160,870.08 9,874,276.98 10,035,147.06

ABCTRANS Daily Summary (Equities)


EQTY Board Totals

Value Traded of 15 34,500.00 34,500.00


Daily Summary (Equities)

12 of 15 Value Traded 1,068,792.33 2,334,589.13







Activity Summary on Board ASeM CONSUMER GOODS

Food Products MCNICHOLS PLC Daily Summary as of 09/05/2014 Food Products Totals Printed 09/05/2014 15:15:57.057 Published by The Nigerian Stock Exchange © CONSUMER GOODS Totals OIL AND GAS Petroleum and Petroleum Products Distributors CAPITAL OIL PLC NAVITUS ENERGY PLC ASeM Activity Summary on Board Petroleum and Petroleum Products Distributors Totals OIL AND GAS OIL AND GAS Totals


No. of Deals 37 37

Current Price 1.34

Quantity Traded 1,501,200 1,501,200 Page 1,501,200

Current Price 0.50 0.66

Quantity Traded 250 1,000 1,250


Daily Summary (Equities) Symbol No. of Deals CAPOIL UNIONVENT

3 1 4



ASeM Board Totals



Equity Activity Totals




Published by The Nigerian Stock Exchange ©

Value Traded 1,921,536.00 1,921,536.00 13 of 15 1,921,536.00 Value Traded 125.00 690.00 815.00 815.00




1,922,351.00 4,644,340,491.20

Daily Summary (ETP) Exchange Traded Fund



No. of Deals 1 2 3

Current Price 2,018.00 17.50

Quantity Traded 12 1,020 1,032

Value Traded 24,216.00 17,850.00 42,066.00

ETF Board Totals




ETP Activity Totals





Published by The Nigerian Stock Exchange ©







MONDAY, MAY 12, 2014

The 10 Most Shockingly Untrue Entrepreneurial Myths, Exposed There’s simply no data or logic to support the premise that any given person will make more money running their own business.

Steve Tobak


central theme in the entrepreneurial world is challenging the status quo and questioning conventional wisdom in search of new and better ways of doing things. After all, if you’re just going to follow the pack, you may as well just get a real job and call it a day. That’s why nothing raises the hairs on the back of my neck more than everyone moving in lockstep to the same drumbeat. When a thousand shrill voices tell you to do the same thing, that’s a sure sign of groupthink. It’s also a good time to get some earplugs and do some critical thinking. Today, there is a pervasive and nearly deafening mantra insisting that you quit your job and become an entrepreneur. The collective says you should do it today because every day you wait brings you closer to a life of poverty and regret. But that’s simply not true. The idea that you can’t have a fulfilling career, be remarkably happy, and even get rich working for someone else is perhaps the most ludicrous, disingenuous, and irresponsible myth I’ve ever heard, and I’ve heard a lot. Don’t get me wrong. Entre-

preneurship can be incredibly rewarding. Starting your own business may be the best decision you ever make. But it’s not for everyone. There’s a lot to consider before you take the plunge and a lot of myths to expose, starting with these. Myth #1: It’s the only way to get rich. One article I read argues that, because the world’s top billionaires are entrepreneurs, that’s the only way to get really rich. There’s simply no data or logic to support the premise that any given person will make more money running their own business. Also, did you know that Microsoft created some 10,000 millionaires? Something to consider. Myth #2: You should follow your passion, not the money. Yet another article says money isn’t everything and you should follow your passion. That is true, but who says you can’t do that working for someone else? Most entrepreneurs actually find their passion while working for others. That’s the best way I know to gain exposure to opportunities. Myth #3: You’ll be happier. Last time I checked, the question of what makes you happy is entirely up to you. Most people are actually happier without the headaches, risks, burdens, hurdles and uncertainty

... Also, did you know that Microsoft created some 10,000 millionaires? Something to consider.

of having their own company. Maybe they’re less happy now that everyone’s making them feel guilty about it. Myth #4: You won’t have a boss. Wrong. Everyone has bosses. CEOs answer to their boards of directors, customers, and shareholders. Entrepreneurs also have to answer directly to regulators and bureaucrats at the federal, state and local level. Trust me, they can be pretty bossy. Myth #5: You’ll have more freedom, control and worklife balance. If you’re on your own, chances are you’re going to find yourself wearing all sorts of hats and working 24x7 for a very long time. Work will become your life. There’s nothing wrong with that, but not everyone feels more freedom and control that way. Myth #6: Corporate America is evil. Here’s something I bet you’ve never considered: Every corporation – even big ones like Apple and Intel – started out as somebody’s small business. So what’s the difference? I had a fabulous career working for companies big and small in the high-tech industry. So have thousands of people I’ve known over the years. Myth #7: You’ll be more fulfilled. You know what just about everyone loves to do? Great

work that accomplishes goals they can be proud of. You can do that working for a big company, a small company, or your own company. Fulfillment has nothing to do with business ownership. If you want to manage, lead, or run a business, you’re better off learning the ropes in a good company before starting your own. Myth #8: There are no jobs; technology and outsourcing killed them all. Shockingly untrue. If technology destroyed jobs, then what do you call the most lucrative and fastestgrowing industry on Planet Earth? That’s right: technology. If you can’t find a job, chances are you lack in-demand skills or education, in which case, yes, you might want to consider starting a small business. Myth #9: The middle class is dying. Maybe that’s true, but what’s that got to do with you, me, or anyone else? If the assumption is that, by working at someone else’s company, you’re destined to live hand-to-mouth, I can just as easily argue the opposite is true. Web 2.0, for example, squeezes entrepreneurs while employees at big companies like Google, Apple and Facebook make beaucoup bucks. Myth #10: Quit making excuses; just do it now. If you’re

struggling with the decision, there might be a very good reason for that. Maybe it’s not a well-informed decision and you feel you’re being pushed into it. Or maybe the timing isn’t right or you don’t have enough cash stashed away to survive. If your gut tells you not to do it and your instincts are usually right, you might want to listen. Funny thing is, every article and book I’ve come across that tries to push people into entrepreneurship regardless of their circumstances was written by people who got their start working for others, didn’t quit their day job, were just plain lucky, or were so talented or well-educated that they would have made it no matter what they did. Look, what you do with your career is your own business. Make it your business to make an informed decision. Do what’s right for you, when it’s right for you. Have faith in yourself. Everything will work out fine. Steve Tobak is management consultant, executive coach, columnist, and former senior executive of the high-tech industry. As managing partner of Silicon Valley-based Invisor Consulting, he’s been a trusted strategic advisor to executives and business leaders for more than a decade. Source:


Sanctity of Truth

Monday, May 12, 2014

9 Inspiring Tips on Successful Social Entrepreneurship Jacqueline Herrera

Co-founder, Kitechild


Richard Branson on Challenging Goliath Richard Branson


inning away business from giant corporations and challenging them for market position can be very risky for a smaller enterprise, but if you have the courage and a great idea, it’s one of the most rewarding undertakings an entrepreneur can embark upon. Your success won’t just involve building a good business, but will stimulate innovation and encourage competition, benefitting consumers. Before you take on a huge company, make sure that you know exactly what you’re up against. Learn as much as you can about the sector and how and why your rivals are able to thrive. Do your market research, focusing on how your product or service will be different from other brands’ offerings. After all, if you aren’t going to provide something better, what’s the point? For example, when we launched Virgin Cola, our decision to compete with Coca-Cola was described to me as “like having a bleeding contest with a blood bank.” While our product was good, it wasn’t extraordinarily superior to Coke’s. We performed well for a while, but once they decided to put us out of business and flexed their financial muscle, our sales started dropping. On the other hand, when we started promoting the highspeed tilting trains that we had purchased to cut travel times for

passengers on our British rail business Virgin Trains, it was such an innovative idea that some people thought we were joking -- the railroads were so old that surely it wasn’t possible. But we were confident that our approach was sound, and it wasn’t long before we had a successful business. While a truly inventive product or service will go a long way toward helping you to win the battle, often that alone isn’t enough. Market leaders will not give up their position without striking back as hard as they can; they will do whatever is required to stay on top. The odds will be stacked in their favor, and they usually have the financial clout to make things difficult for smaller companies. This is often the case in aviation. In the ‘80s, when we introduced Virgin Atlantic flights from London to Miami, to challenge Eastern Air Lines, they said that there was no room for two carriers on that route -- one would disappear. And it wouldn’t be Eastern! There was a price war, and, well, we are still flying high. In some industries, your competitors may also have the assistance of regulations blocking competition. In such situations, persistence is key.

Virgin America took a while to get off the ground -- literally! The regulations about foreign ownership in the American airline industry are stringent, and we were grounded for the first couple of years. Rather than let ourselves get discouraged, we used that time to build a passionate, energized team and also to perfect our service. Through our promotions, customers learned how innovative Virgin America was - from in-flight WiFi to touchscreen seatback entertainment for every guest. By the time we were permitted to take off, customers were eager to fly with us. Also, when you are taking on a big competitor and your company is under extreme pressure, it’s a good idea to have a network of mentors you can call on for support. Look for people who have real-life experience at similar challenges. When Virgin Atlantic was locked in battle with British Airways, I sought out Sir Freddie Laker, whose airline, Laker Airways, had been put out of business in comparable circumstances. He was able to give me invaluable guidance on how to handle our very difficult situation. Taking on the establishment is never easy, and you’ll need to overcome obstacles at every

If you and your team do decide to tackle your industry’s Goliath, remember to stick together, remain persistent when faced with obstacles, and to keep on innovating

turn. Nevertheless, you do have some important advantages. An innovative product or service that offers people a better way to solve a problem will get their attention. Once you have won some business away from the established market players, they will react, but you’ll find that your small company is naturally nimble in ways that big corporations can’t be. You’ll have the flexibility to act speedily as conditions change, rather than being hindered by a big bureaucracy that is set in its ways. If you and your team do decide to tackle your industry’s Goliath, remember to stick together, remain persistent when faced with obstacles, and to keep on innovating. And if you win, don’t be complacent - keep on working as a team, persisting and innovating, because someday, some little company is going to come along and challenge you. Head over to Virgin Disruptors, to join the debate around under-inspiration, over-regulation and whether entrepreneurs have lost the will to innovate. My opinion? Innovation and entrepreneurial spirit are more important and stronger than ever! Richard Branson is the founder of Virgin Group, which consists of more than 400 companies around the world including Virgin Atlantic, Virgin America and Virgin Mobile. He is the author of six books including his latest, Like a Virgin: Secrets They Won’t Teach You at Business School (Portfolio Trade, 2012).

ost people know what it means to be an entrepreneur: one who creates a business at a great financial risk, with a potential large return on successful endeavors. But when you are in the business of bettering the planet, you are often selling an emotion, a change, a clean glass of water, a vaccine, or a new library in Africa. Social entrepreneurship is not defined by the same financial outcomes as ‘normal’ entrepreneurship, but the impact can be just as great. I have smart, successful ‘normal’ entrpreneurs on my board, so in comparison to their paths, I’m going to make a bold statement here: social entrepreneurism is incredibly harder. I’ve been on this path for four years (knock on wood), and can tell you It’s not all fluff and feel good intentions, but its 100 percent completely worth the journey. So if you’re thinking of changing the world, here’s some tips on how to stay sane. (Deep breaths help too.) 1. Run your non-profit like a for-profit Business is business -- you’re just in the business of doing good, that’s all. You should have a solid business plan, (even though you aren’t necessarily generating revenue), be meticulous in your accounting, invest in advertising (seriously underrated how important this is for organizations to grow) and pay your staff a decent, competitive salary. Not doing these things runs the risk of you being looked at by donors/investors as a pet project, and not a serious undertaking. 2. ROI? More like ROH I can’t promise shares in my company. But guess what? I can promise a lot of inspirational accomplishments that will make you feel fuzzy inside and proud to be supporting a social endeavor. So look at it as a return on happiness, and a knowledge you are bettering the world. 3. Don’t Quit Your Day Job Bartending. Freelance writing. Modeling. Nanny. Just a few of the side jobs that I’ve had -- the whole entire time I have been a part of my start up. I chalk it up to passion, and while I’ve had many people ask the same question -- if you’re doing something so cool, why are you waiting tables? Well, my startup can’t necessarily pay me the big bucks (yet). I’m in this field not for the money, obviously -- it takes a very C ONTINUED ON PA G E 4 4


Sanctity of Truth

Monday, May 12, 2014


9 Books Every Entrepreneur Should Read Chad Brooks


hile it might be hard to find time for it, entrepreneurs can learn a lot by cracking open a book every once in a while. Books authored by other entrepreneurs and business leaders offer a wealth of information on how to succeed in what you’re doing. However, finding the books that provide the best advice isn’t always easy. To help entrepreneurs know which books are worth spending the time reading, Audiobooks. com CEO Sanjay Singhal has compiled a list of his nine mustread titles. They are: “7 Habits of Highly Effective People” (Simon & Schuster, 2013) by Stephen R. Covey: One of the most influential books on management of all time, Covey’s guide to achieving objectives by upholding core principles has sold more than 15 million copies in 38 languages worldwide. “How to Get What You

Want” (Simon & Schuster, 2004) by Zig Ziglar: Written by one of the most accomplished salesmen and motivational speakers of all time, this book makes a classic argument for goal setting. It delivers broad strategies and practical tactics to achieve success, also offering a generous dose of inspiration. “One Thing You Need to Know” (Free Press, 2005) by Marcus Buckingham: This primer on excellence in business management and leadership reveals the fundamental insight that drives achievement. It provides real-world examples that illustrate how “one thing” drives career success. “Lean In: Women, Work and the Will to Lead” (Knopf Doubleday Publishing Group, 2013) by Sheryl Sandberg: Written by the chief operating officer of Facebook, this book is a practical guide to leadership for a new generation of women executives. It examines the challenges women face in the execu-

tive suite and outlines practical solutions for overcoming barriers and finding success. “Contagious: Why Things Catch On” (Simon & Schuster, 2005) by Jonah Berger: A compelling examination of what makes stories, rumors and content go viral by a Wharton School professor. This book illuminates six insights that make ideas contagious across multiple social platforms. “Big Data: A Revolution That Will Transform How We Live, Work and Think” (Eamon Dolan/Houghton Mifflin Harcourt, 2013) by Viktor Mayer-Schöberger and Kenneth Cukier: This insightful examination of the hottest concept in business today sheds new light on how Big Data is driving business and social policy — and endangering privacy. “The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses” (Crown Startup,

2013) by Eric Ries: With practical tips on how to create a sustainable business and overcome uncertainty, this book provides a fresh look at a startup strategy that is gaining popularity worldwide. A range of companies has adopted the concept, from those launched in a founder’s garage to Fortune 500 ventures. “To Sell Is Human” (Riverhead Trade, 2013) by Daniel Pink: This book takes an innovative look at the art and science of selling. It outlines principles that are extremely valuable for entrepreneurs, managers, employees,

parents and teachers — anyone who has to persuade others to take action, which is virtually everyone. “The Power of Habit: Why We Do What We Do in Life and Business” (Random House, 2012) by Charles Duhigg: A 60week New York Times bestseller by a Pulitzer Prize-winning author, this book examines the science behind habits and how people can harness the power of those habits to be more productive and successful. Culled from BusinessNewsDaily

Embrace Change: The 4 skills needed to reinvent yourself Stephen Key


e no longer work for the same company for 40 years. If you are entrepreneurially-minded, this reality shouldn’t scare you. For better or worse, we have more opportunities than ever to earn an income in different ways. Have faith in yourself -- whether you’re forced to or choose to, reinventing yourself isn’t as hard as you may think. In college, I started out studying economics. I found it incredibly boring and quickly discovered that I hated it. On a whim, I took an art class and loved it. I reinvented myself as an artist. As many of us discover, we actually have to make a living after college! So I combined my artistic goals with economic ones. In my fifties, the money I was making from ideas I had licensed started drying up, so I remade myself as a small-business entrepreneur in the music accessories industry. At the same time, I decided to become a mentor and created an educational program about licensing. I was nervous, of course, but I never let that stop me. That may be because I watched my father do the same thing. After working for the same corporation for 25 years, he became a real estate agent. It wasn’t difficult for him. I think the reason why is because he never defined himself

by his job. He enjoyed his work and it interested him, but he kept himself apart from it in an important way. He didn’t take being let go personally, which made it easier for him to move on. In hindsight, his willingness to reinvent himself deeply impacted me. If he could do it, so could I. We have so many people telling us to be scared of losing our jobs or trying something new. It doesn’t have to be that way. When it’s time for a change, rely on these strategies to help you: 1. Check your ego. No job is too small or unimportant. Every job can be a learning experience. It’s more important to ask, “What can I get out of this?” 2. Focus on building your toolbox. There are basic skills that are beneficial to many jobs (as well as your personal

life) that can be easily obtained. Here are three: Sales: I have always encouraged my three children to take sales jobs. I don’t care if it’s the worst sales job -- you will learn a lot, even if it’s cold-calling or going door to door. We’re always selling, including ourselves, from a first date to asking a bank for a loan. Management: You can never go wrong with getting some management experience. Every employer wants to hire someone who knows how to build up the people around them. You could take a job at a fast food restaurant or coffee shop and work your way up to shift lead. Financial: if you develop financial skills, they will never do you wrong. Surprisingly, many people are clueless when it comes to their finances. These

are all skills you will use starting your own company, as well. 3. Broadly assess your own skills. What skills do you have? Think deep, and not only in your professional life. Employers are looking for people they can count on. What makes you dependable? Are you always on time? Look for skills that you practice in your daily life that make you an accountable, stand-up person. Make a massive list. Ask your friends and family for help. Their insight may reveal new qualities. This way, you can match your skills to every job you apply for. Make sure you intimately understand each employer’s culture and attitude. 4. Don’t rule out creating your own job. This is the approach I took after college. I didn’t see any jobs out there that fit the skills I had, so I decided to break out on my own. I sold my crafts at fairs, which was a pretty bold move in hindsight. Later in my twenties, I was hired by a startup company to do exactly the same thing. Life is weird. I knew working at a startup would teach me wildly different skills I didn’t have -- skills I knew I would need later in life. Opportunity is all around us. We just have to seize it. Stephen Key is an inventor, author, speaker and co-founder of InventRight, LLC., a Glenbrook, Nev.-based company that educates entrepreneurs in how to bring ideas to market. Source:


Sanctity of Truth

Monday, May 12, 2014

How the world will replace employees with entrepreneurs

9 Inspiring Tips on Successful Social Entrepreneurship C O N T I N U E D F R O M PA G E 4 2

different kind of person to realize that, accept it, and embrace it as if you’re making six figures anyway. 4. Roads? Where we’re going, there are no roads “Lifespan a hen can lay eggs,” “what causes ameobiasis” and “how do Tilapia mate” these are just a few of the questions I have asked google in my preliminary research for our projects in the field. As an entrepreneur, there is no clear road you’re supposed to take. The role alone implies risk and a sense of self perpetuation. But don’t be afraid to ask for help -- from your board, from your colleagues, and even from for-profit institutions with expertise in your project. For example, when we built our aquaponics farm, we reached out to several experts in the field who gladly provided their knowledge pro-bono, since it was for a good cause. 5. Re-charge in the field

I’m going to be honest. I have my days where I think, what the hell am I doing. Or, how do I know if what I am doing is working/going to work? Or “wouldn’t it be nice to have a cushy 9-5 with benefits.” Its easy to get a little lost -- what puts me back on track is heading out to the field and hanging with the kids and the orphanage directors who selflessly devote their time 24/7. If I’m not out there, even seeing new photos or video of our projects re-ignites that fire in me, and allows me to remember why I’m here. 6. Teamwork makes the dreamwork There is no I in team, and

this could not be more true than working in non-profit with limited resources. Even if you have unlimited resources, you want to make sure you are using your donated funding in effective, impactful and responsible ways. You also want to make sure your projects are running, your demographics are happy, your donors are updated, your tweets are going out, your taxes paid and your coffee pot going. I seriously could not do it without my team of interns, volunteers, and staff. They feed me great energy, ideas and give invaluable feedback to bounce around with. 7. Say it loud and proud

People are attracted to confidence. When people ask me about my organization, I don’t even blink an eye in telling them everything that I love about it. I love the kids that I meet, I love the projects that we do. I love living in India for weeks at time and traveling all over the world. That fire is innate in me and that’s what makes an entrepreneur successful. In this way, its never your job -- it’s your passion, and that’s what motivates others to join you and support you. 8. Make it work Sure, sometimes we get photos in the field that look like they were taken with a Kodak disposable circa 1999. They make me cringe, but I have to remind myself that I’m just a technology snob who knows the true beauty of a Canon HD 560. (whereas my liaison in Nairobi has a simple point and shoot that’s maybe 5 megapixels at the most.) It is what it is, so point it out to your

donors that although the photos are a little fuzzy, its because they were taken out in Liberia, where the energy is un-reliable but thanks to the solar panels they just funded, all that will soon change. 9. Be the light, share the light What you are doing is inspiring. Even if you make at least one person’s life better, it will have all been worth it. Being a social entrepreneur is not about the numbers: that’s the big difference between a regular entrepreneur. You can’t strip a human life down to a number. At first, I thought by saying “we helped over 500 kids this year” our impact would have more value. But I realized that when I changed it to “we helped Julio have three healthy meals a day” that emotional connection was more palpable. People could relate. So don’t think so much about the “bottom line”, think about how you are creating long lasting change.


ay 12, 2014

ACCIDENT Many people escape death on the Lagos – Ibadan Expressway when a vehicle carrying diesel crashes Sola Adeyemo Ibadan


hree vehicles were burnt while a man sustained serious burns yesterday when a tanker conveying diesel spilled its content on the Ibadan end of the Lagos - Ibadan Expressway, sparking a huge fire in the process. Many people abandoned their vehicles on the road and ran for safety. This led to a gridlock on the expressway. A witness, who gave his name as Augustine

Idowu, said the tank containing diesel detached from the truck. He said: “The tanker was coming from Lagos towards Ibadan. Something went wrong and the vehicle split into two. The tank fell and the whole road was full of diesel. “Almost immediately, fire emanated from the effect of the contact between the tar and the iron used to construct the tank. The fire travelled fast with the diesel and three other vehicles got burnt.” Assistant Commandant, Federal Road Safety Commission (FRSC) in charge of Oluyole, Ibadan South-West and Ona Ara councils, Sanya Adeoye, confirmed the incident. He said that the injured person had been taken to the University College Hospital (UCH), Ibadan by the emergency team of the FRSC.

Adesina Wahab


reacting to the Ikere-Ekiti incident. Babayemi said the killing and setting ablaze of a suspected kidnapper in IkereEkiti by irate mob was very regrettable and inhuman. He said: “The action is condemnable and regrettable. There is no jungle justice in the Nigerian laws. It is a barbaric action for people to kill and set ablaze a suspect without allowing security agencies to do their job. This will not be tolerated.” The PPRO said the command had commenced investigation into the matter in an attempt to unravel the identities of the suspected abductor and those who killed him. Also, the police have arrested a middle-aged woman, Mrs Lola Adebayo, for allegedly

o oil committee’s composition

he ew on unt on gbo

Ibrahim Abdul



or the past one month, Yola, the Adamawa State capital and its environs, have witnessed sustained attacks by suspected armed robbers. Many innocent residents of the town and its environs have been killed while several others have been injured in robbery operations usually carried out at night. According to reports, in the last three weeks, the residents of Shagari, Lakare, Yolde Pate, Damare, Anguwar Magaji and Sangere have lost valuables such as jewelleries, household items and cash to the dare-devil robbers.

Irate youths set kidnap suspect ablaze


use ies mes nd


One injured, others escape Armed robbers lay siege to Yola death in road crash

Ado-Ekiti bers of the public perceived policn angry mob yesterday and/or civic relynched and burnt a suspected kidnapper in Iereeir supports and hieving effective Ekiti, Ekiti State. te,” he added. The victim, a man, whose identity, address and age were not known at press time, was beaten to pulp and set ablaze by angry youths for allegedly trying to abduct a three-yearold girl at Ori Audu area of the town. The state Police Command has, however, warned citizens against meting out jungle justice to any suspected criminal, saying it would deal ruthlessly with whoever is found culpable. The state Police Public Relations Officer (PPRO), ASP Victor Babayemi, said this while aries

efs in the the ndto m-


According to him, the entire Baales in the kingdom submitted names of their nominees to a nine-man committee instituted to screen people for the post. He said the people chosen for the posts were selected and endorsed by the Baales and the secretaries of each of the communities before they were sent for ratification. Oyetomi, however, said the people who levelled the allegation of imposition against the Olugbo were those who lost out in their communities or those who wanted to perpetuate themselves on the IRDC Board. He said: “Olugbo was not the person that selected the people; it was the communities headed by Baales that brought the names. The problem is that the people want to perpetrate

themselves; they do not want to leave as some of them have spent more than eight years on the board. “The problem is that many of them were not accountable to the people. They also sent their list to Chevron but it was rejected; the rejection of their list shows they are not relevant. “The practice has always been that when the communities compile their names, they send the list to the palace of Olugbo who in turn sends it to OSOPADEC for it to be forwarded to Chevron. This is exactly what we have done.” Oyetomi, who was also the secretary of the nine-man committee, added that the Olugbo could not appear before the committee of the state House of Assembly on OSOPADEC because the summon to the monarch was wrong.

inflicting bodily injuries on her nine-year-old housemaid, Blessing Akinyemi. Adebayo, who lives in Ekute area of Ado-Ekiti, was arrested on Saturday and detained at Ekute Police Station for beating up Blessing and starving her of food. A Commissioner with the Ekiti State Local Government Service Commission, Mrs Omotunde Adelabu, told journalists that she saw the tattered-looking girl wandering about the streets and that upon interrogation she said she was brutalised by Adebayo over an offence she committed. Adelabu said what actually attracted the girl to her was the sores all over her body, which she said might be injuries she sustained while being

flogged. Calling on mothers to be alive to their responsibilities and stop entrusting their children to anybody as house helps, Adelabu said Blessing told her that it was always the habit of her foster mother, Adebayo, to beat her and starve her of food each time she commits any offence. The Director of Citizens’ Rights, Ekiti State Ministry of Justice, Mr Gboyega Morakinyo, who described Adebayo’s action as barbaric and lawless, said the culprit would be prosecuted to serve as deterrent to others. Babayemi, who confirmed the incident, said the case had been reported at the command’s headquarters, saying the full details would be made public soon.

Adamawa State Gov. Murtala Nyako

Some of the victims, who did not die in the attacks, are said to be deserting their homes now. According to survivors, the robbers usually invade houses in the middle of the night and always ask for the heads of the families. “The gunmen, who drove in a Hilux van, attacked our neighbours and carted away money and assorted provisions,’’ said Mallum Hamman Adama, a resident of Fattude Magaji. Some residents of Sangere, the latest community that came under attack, said they did not understand why crime seemed to be on the increase despite the emergency rule in the state. “Before the emergency rule, we were living in relative peace but now we can’t sleep at night for fear of being attacked,” a resident, Sani Bello, disclosed. The residents of Sangere were woken up by gunshots about 1:50am yesterday when the men of the underworld struck. “About 12 armed men, including a female, ransacked houses in the community, collected the car keys of their victims which they took away,” another resident said.

Call RCCG contractors to order, landlords urge Adeboye


wners of the land hosting the Redemption Camp of the Redeemed Christian Church of God (RCCG) have petitioned the General Overseer of the church, Pastor Enoch Adeboye over alleged harassment. The Baale of Agunfoye village, Chief Yekini Babatunde Agunfon and the head of the family, Chief Amos Oshin Agbabo, who wrote the petition, urged Adeboye to call the church’s contractors to order and stop them from harassing the family with policemen. Agunfoye village is the site of the new auditorium being constructed by RCCG. The two men were on Friday arrested by men of the X Squad of the Nigeria Police, Alagbon, Lagos led by one Mr. Dosunmu (an officer)

based on a complaint lodged with the police by the contractors, Chief Tunde Ojelade (aka Mania), the Baale of Mowe and Chief Jimoh Jalogun, Baale of Imedu Nla. They have, however, been released. Speaking with journalists at the weekend, the Baale and the family head said the call to the general overseer became necessary, because of their safety. The family had earlier appealed to the church to increase the money payable to tenant farmers on the acquired land for their damaged crops from N20,000 to N50,000 per acre. They also demanded additional N200,000 on every acre of the land purchased by the church as well as N50,000 per acre as compensation for damaged crops on the acquired

New Auditorium land. The family had further gone to court to press for these demands as the church had given contractors money to pay customary tenants of the village instead of allowing the village heads to do the payment. According to Agunfon and Agbabo, the families are inundated with demands and threats from the displaced people on the land who thought they have collected money from the church, hence their decision to press for the demands in court. They said they were, however, surprised to see five policemen coming to hound them like common criminals, arresting and embarrassing them which prompted them to appeal to Adeboye to call the contractors to order.


Sanctity of Truth

Monday, May 12, 2014

Don’t negotiate with Boko Haram, group warns FG TOUGH Bashir Ado's United Alliance kick against meeting with insurgents


political group, the United Alliance has warned President Goodluck Jonathan against negotiating with the Boko Haram sect even as it said “any attempt to do this would mean legitimising the sect’s actions and will box the government into a dangerous corner.” In a statement made available in Abuja yesterday and signed by its Northern Coordinator,

Mallam Bashir Ado, the group said those who are canvassing negotiation with the sect are enemies of the country. “We are closely monitoring developments in our dear country, especially as it affects the activities of the terrorist group, Boko Haram and the position of some people that President Goodluck Jonathan should negotiate with the terrorists. “Our position on this is clear and we strongly advise Mr. President not to allow himself to be persuaded into taking such a panicky measure as the activities of this sect shall soon come to an end, especially with assistance from the en-

tire world.” The group said: “The apostles of negotiation are the enemies of Nigeria, who ordinarily would not see anything wrong with negotiating with criminals.” Insisting that the abducted Chibok girls must be released unconditionally, the group said masters of the terrorist group could not find their voice until recently when it became obvious that the game was up for them with the offer of assistance by the nation’s foreign friends. “The masters of these criminals kept mum and have been giving support to their activities, but suddenly found the voice to speak out because

Americans are coming to unveil them. “It’s too much of a coincidence that former Head of State, Gen. Muhammadu Buhari (rtd), whom the sect had earlier mentioned to mediate with the government on its behalf, is speaking against the group and its actions now that it is almost evident that the Americans are poised to unearth some hidden things about the group and its sponsors.” Insisting that Boko Haram is the agenda of the North, the group said; “We are aware that this terrorist group is an agenda of those who believe that ruling Nigeria is their birthright and we are seriously

against the government negotiating with them, but should be treated as the criminals that they are when eventually caught.” The United Alliance had in a recent statement said that Northern elders should be held accountable for the missing Chibok schoolgirls. “The disappearance of the girls is part of the Northern elders’ agenda to embarrass and distract the Goodluck Jonathan government. “They deliberately took the girls away to create an impression of insecurity and paint the picture that nobody is safe in the country, whereas they are the architect of these self-

inflicting wounds aimed at distracting a working government” the statement had said. According to the g roup, the Chibok school authorities, among others, in the re gion deliberately ignored the call made earlier by the Federal Gover nment for students of schools in the area to be evacuated, insisting that “those who claimed to have been born to rule should direct their energy at how to ensure that the unity of the country is maintained in diversity, instead of constantly embarrassing themselves in the name of wrestling power.”

2015: ‘Ambode, an Epe son'


he speculation surrounding the authenticity or otherwise of Mr. Akinwunmi Ambode as an indigene of Epe, a town in the outskirts of Lagos was laid to rest over the weekend, when a monarch in the town, Oluilara of Ilara, Oba Okunola Adesanya, one of the paramount rulers of Epe described him as a bonafide indigene of Epe land. Oba Adesanya, who spoke on behalf of the Olu of Epe and other traditional rulers at the induction of Mr. Akinwunmi Ambode and other prominent sons of Epe into the Epe Club, has been on the throne in the last 54 years. He said the Ambode family had always been part and parcel of Epe land. The monarch, who spoke at the occasion, said the Epes have always looked that indeed Akinwunmi Ambode was in a better position to actualise this age long dream. He called on the people of Epe to rally round him in his quest to move Epe and indeed the entire Lagos State forward. He said Ambode has served Lagos for 27 years, contributing his quota towards the development of Lagos without been tainted by the spoil of office and that it is now time for him to go for higher responsibility and the Epes will unite behind him. The octogenarian

monarch said the people of Epe have always been the pillar behind the arrow head of development in Lagos and that the time has come for Epe to take the pride of place to move Lagos to the next level. The event was in appreciation of Ambode’s contribution towards the development of Epe land. In an earlier speech, Chairman of Epe Club, Mr. Lanre Rasaq, the former commissioner of transportation of Lagos State, described Ambode as the jewel of the people of Epe land and as an illustrious son of the land, who used his position as the Account-General of Lagos State to better the lot of the people of Epe. He charged the people to rally round Ambode and other Epe sons, who are vying for the position of Governor of Lagos State, saying that the most important thing is for the people of Epe to produce the successor to Mr. Babatunde Raji Fashola as governor. In his response, Mr. Ambode thanked the people for the confidence reposed in him for inducting him into the prestigious Epe Club. He pledged his unflinching commitment to the development of Epe land. He said: “I am fully committed to the ideal of the club, which is to promote peace, unity and stability among the indigenes of Epe.

Former secretary to the Osun State Government, Alhaji Fatai Akingbade (middle) during his declaration to contest the forthcoming governorship election in the state on the platform of the Labour Party, in Osogbo...recently

Okonjo-Iweala to flag off Osun 2014: IPAC UNILORIN oil plantation inaugurates new chapter Biodun Oyeleye



he University of Ilorin will on Thursday flagoff its oil palm plantation in the institution. It will be led by the Coordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala. A statement by the institution’s Head of Corporate Affairs, Mr. Kunle Akogun, said the oil palm plantation project, which first phase will cover about 1, 000 hectares of land, will enhance the university’s

three-pronged mandate of teaching, research and community service. According to Akogun, the project “will provide training and laboratory facilities for students in the Faculties of Agriculture and Environmental Sciences as well as the Departments of Forestry, Plant Biology and other related disciplines.” He added that at maturation, the plantation would also be a good source of internally generated revenue for the university.

Women lobby for eight slots in Wada’s new cabinet Muhammad Bashir


pressure group under AWomen the umbrella of for Change and

Development Initiative (W4CDI) yesterday urged Governor Idris Wada

to offer eight slots to women out of the ‘yet to be constituted cabinet’ in the state. The group said the request, if granted will further actualise the 35 per cent women affirmation action as declared by the

United Nation’s charter on women’s rights. National Coordinator of the group, Dr. Rabi Ibrahim, made the call over the weekend in Lokoja during the official inauguration of the wing in the state. Ibrahim, who thanked

the wife of the governor, Hajia Halimat Wada, for her support to the project of Mrs. Patience Jonathan in the state, equally added that the only way for women to exhibit their potentials was to be given opportunities to participate in governance.

new chapter of the ACouncil Inter-party Advisory (IPAC) was at the

weekend inaugurated in Osun State with the aim of formally presenting to the Independent National Electoral Commission (INEC) a database of the existing political parties in the state. Speaking after a sevenman executive to run the affairs of the council was elected at the state secretariat of INEC in Osogbo, the National Chairman of the National Conscience Party (NCP), who also led the national executive members of the group, Alhaji Yinusa Tanko, said: “The group is to work with INEC to have adequate information on political and election matters. “We are also to carry out a one-man, one-vote mandate and to have elections devoid of rigging, manipulations and violence. “The aim of the group

is to ensure that all political parties come together and ensure that there is credible, free and fair election across the 36 of the federation. “IPAC is not an opposition group, but an organisation formed to monitor and work with INEC on political and election matters. “The establishment of the Osun IPAC chapter was to formally present to INEC a database of existing political parties in the state.” In his remarks at the inauguration, Osun State Residential Electoral Commissioner, Ambassador Rufus Akeju said that: “INEC was ready to deliver credible, free and fair election in the forthcoming August 9, 2014 governorship election in Osun State.” He spoke through INEC’s Head of Department, Election and Party Monitoring in the state, Niyi Opadiran.


Sanctity of Truth

Monday, May 12, 2014

Ahmed gives N50bn target to Harmony Holdings Biodun Oyeleye



wara State governor, Alhaji AbdulFattah Ahmed, at the weekend, justified the consolidation of the state’s business enterprises under Harmony Holdings, saying the group now has a target of N50 billion to generate for the state by the year 2032. Ahmed, who spoke at the first annual general meeting of the company, expressed satisfaction with the N30 million profit after tax recorded by the organisation within one year of its establishment, saying it had proved wrong those who raised eyebrows over its establishment by his administration. He expressed the hope that soon the company would be able to generate enough to fill the gap

between what comes to the state as revenue from the federal allocation and the needs of the state in terms of capital projects, saying once it begins to generate enough fund the state would be in a position to seek higher funding for most of its capital projects. According to the governor, the vision behind the company was such that in a few years’ time, it will become the main income generating organ for the state while income from federal allocation will just be an addition. “Harmony Holdings Limited has a target of about N50 billion in revenue by 2032, this company has not been started to support only this administration; it is a continuously growing concern. It is going to outlive all of us here.

Ogun moves to restore Ijebu Ode-Epe road


owards alleviating the hardship faced by motorists plying the Ijebu Ode-Epe road, the Ogun State government has commenced massive rehabilitation of the road linking Ijebu Ode and its environs with Epe in Lagos State. State Commissioner for Works and Infrastructure, Olamilekan Adegbite, while inspecting the rehabilitation work, said the road would ensure free flow of goods and services, especially transportation of farm produce from the state to Lagos, adding that the rehabilitation exercise would be completed within a week. Adegbite, who said only the part of the road that falls within the state was being rehabilitated, also expressed the hope that upon completion, the road would be used to harness all potentials towards enhancing the socioeconomic development of

the state. The commissioner noted that the road was one of the shortest link to Epe and its environs from the state, hence the large volume of vehicular movement recorded on the road, which he described as one of the busiest routes in the state. While justifying government’s intervention on the road, Adegbite said the road had been in a bad shape for years, disclosing that motorists plying the road had gone through untold hardships and have clamoured for government’s intervention. He reiterated the resolve of Governor Ibikunle Amosun’s government in ensuring that all roads in the state are in good condition, adding that regular maintenance of roads had not stopped, but had been prioritised according to available funds.

Benue lawmaker gets nod to contest Rep seat Cephas Iorhemen



he people of Igede land comprising Oju and Obi communities have unanimously agreed to give a serving member of the state House of Assembly in the area, Hon. Nick Eworo, the mandate to represent them in the House of Representatives during next year’s general elections. Consequent upon their resolve, the communities had kick-started grassroots campaign to realise the dream, the constituents at the weekend, presented two cars to him to boost his campaign. Receiving the car keys,

the lawmaker said he has decided to bow to the pressure from his people to move to the next political strata, considering his track record of achievements to the people that have positively transformed the area. He thanked the people for their solidarity and the supportgiventohisaspiration, promising not to disappoint them if elected. Earlier, while presenting the Toyota Corolla and Gulf cars, former Chairman of Oju Local Government Council, Mike Aja said the gesture was a token of their appreciation to the lawmaker and to help in his campaign efforts.

L-R: National President, National Association of Nigeria Nurses and Midwives (NANNM), Alhaji Abdrafiu Alani Adeniji; Deputy National President, Musa Mamman and National Auditor, Haruna Mandabs, during a pre-conference on International Nurses week in Abuja… yesterday PHOTO:TIMOTHY IKUOMENISAN


The number of fixed (wired)-broadband subscriptions per 100 inhabitants of CIS (Commonwealth of Independent States) of 2011. Source:


The total number of internet users in New Zealand in 2007. Source:

7,694 The number of fixed-telephone subscriptions of Sao Tome & Principe in 2009. Source:

Boko Haram: Egwu wants mass conscription lUrges FG to recruit unemployed graduates MILITARISATION

Former Ebonyi governor wants jack boot policy to stem insurgency Leo Sobechi ormer governor and leader of Ebonyi State delegates to the ongoing national conference, Dr. Sam Egwu, has commended President Goodluck Jonathan for accepting the offer of assistance from foreign countries to help put an end to the menace of Boko Haram insurgents in the country. Egwu, who spoke with journalists in Umuebe noted that Nigeria needs short and long term approaches towards ad-


dressing the menace of insecurity in the country. He said the short term approach was what President Jonathan’s acceptance of international community’s assistance represents. “Getting governments or countries that have been able to overcome similar situations or that have the technology to handle such challenges to come and salvage the situation is a short term measure. The long term approach should be, while the foreign security experts are doing their job, Nigeria should devise strategies and gain capacity to be able to handle the situation when they leave,” he added. The former governor said the long term approach could be to embark on massive recruit-

ment and conscription of the country’s youths and unemployed graduates into the Nigerian Army so as to be able to combat the security challenges facing the country. “I have been to many countries; I look at our soldiers, with the number of people we have today, can we adequately say we have enough men? And we have a lot of people roaming the streets and we are in a state of war. For Christ’s sake, whether we like it or not, what we should do is massive employment or conscription. The amount of money we spend on politics does not worth it at all. “Let us face it; our security, education, health, Nigeria population has outgrown its facilities. And subsequent governments have not being able

to address these issues. These did not start with Jonathan; it is something that started many years ago. It is not just in one sector. “We are stressing insecurity because it is prevalent. In the education, health, similar challenges exist.” The former education minister regretted that it was because previous administrations had not taken time to address the implications of the growing population on the provision of facilities that the current situations had continued unabated. “We should acknowledge that as a country we have failed in trying to address these issues confronting us. Previous governments have not taken time to address these issues.

Supreme Court to hear Obiano’s multiple registration allegation Uwakwe Abugu



nambra State Governor, Willie Obiano, has approached the Supreme Court to challenge the recent ruling of the Enugu Division of the Appeal Court which ordered the Anambra Governorship Election Tribunal to hear the merits of allegation of multiple registrations brought against him in the last election. T he alle g ation was made by the All

Progressives Congress (APC) candidate, Dr. Chris Ngige, after a High Court had absolved the governor of wrong doing contrary to the allegation. The tribunal had earlier, during prehearing trials, rejected exhibits offered by petitioners against Obiano, including APC and its candidate, seeking the nullification of the election held last November on the basis that the governor had multiple registrations before the election,

among other allegations. However, Ngige appealed against the tribunal’s rulings in exercising aspects of his petition upon which the Appeal Court, Enugu upheld his request that the issue of multiple registrations be heard, but rejected substantial part of his pleadings by upholding the stand of the tribunal on those ones. Before the tribunal headed by Justice Sadiq Bello concluded hearing on all the petitions filed

by petitioners and fixed May 23, 2014 for counsel to all parties in the case to adopt their final written addresses, the panel sat for long hours daily for about nine days during which Ngige, Dr. Chike Obidigbo also of APGA as the governor and Mr. Tony Nwoye of the People’s Democratic Party (PDP) all took their turns to make the case of double registrations against the governor following the verdict of the appellate court on that particular matter.


Sanctity of Truth

Monday, May 12, 2014

Akure Anglican Diocese gets new provost NEW BLOOD

Young blood comes on board in Akure Diocese, promising to inject vitality Babatope Okeowo Akure


he Church of Nigeria Anglican Communion has appointed Revd Olusegun Olorunfemi Osotayo as the new Provost for the Akure Diocese of the church. Osotayo, who is in his 40s replaced the retired Provost of the Church, Revd. J Olugasa. By the new appointment, he becomes the Deputy Bishop of Akure Diocese. The Bishop of the Akure Diocese of the Church, Simeon Borokini and the Registrar of the Church, Prince Ademola Adegoroye performed the inauguration of the new provost at the weekend.

In his oath of office, Osotayo said he had never been a member of any secret cult and not an homosexual and promised to fight the menace with all his strength. He also promised to establish youth fellowship in the diocese so that the youths of the church would not drift into other congregations or go astray into vices. The provost, whose sermon was "Jesus the True good sheperd" said it is important to ensure the youths are developed spiritually. Osotayo appealed to the church and parents to be patient with the youths as the rise in technology has affected their spiritual development. Osotayo who decried the disharmony between mental and spiritual development, said the youths were the power and the energy of the society though they were difficult to manage. He regretted that youths are often discouraged

by doctrines and some outdated principles in the church. He also lamented that both the government and the parents are not doing enough to inject spiritual development into the Nigerian education policy. Analysing what has led to the decline in youths attendance in church, he said youths between 18 and 30 years are hungry for liberty which they tend to get at the higher institutions. His words: "These youths suffer hostility in all facets of life. So, It is celebration of freedom for them when they gain admission into higher institutions where they believe they can decide on their own; but they end up making wrong decisions. "When they get to higher institutions, most of their lecturers are not Christians, they are either fake Christians or atheists and when they get there, they find themselves in denominations

of other churches. "That is the Christian disease in schools and it has contributed to the decline in the church attendance and when the seed is sown in them we are not patient enough with them. So the result is that they get born again wrongly and they lose interest in church activities." The cleric said the rise in the interest of the youths in sports, entertainment and technology has become uncontrollable and has adversely affected spirituality. Osotayo said: "Sexual appeal songs get promoted among the youths than spiritual songs, they tap wrong information as they are always connected to the internet. "This has resulted in fraudsters called yahoo boys. Let us pity them and be considerate on how we can help them. Sports is now money venture like politics. "They have the power

and energy now, let us engage them in the church and let them contribute. If we do not allow them to contribute, we will not be able to accomplish the will of God if we are

harsh on them." Osotayo said the Youth Ministry would be instituted whereby they would have their chapel and a priest that will work with them directly.

Our job scheme yielding fruits, says Kwara gov Biodun Oyeleye Ilorin


wara State Governor, Dr Abdulfatah Ahmed, has explained that his job creation programme is to ensure that youths of the state are gainfully employed or are successful entrepreneurs. The governor who made the observation in Ilorin, the state capital emphasised that "as a state and as a government, we look at the composition of Kwara and recognised that we have a plethora of unemployed youths. We decided to act fast to prevent it from further degenerating. I'm glad to note that today, from available statistics, Kwara State has the smallest number of

unemployed youths. This tells you that our efforts to get us there are yielding fruits." "So, if anybody under any guise tells you that our youth empowerment scheme is political, then the person is not serious. We cannot afford to take the destiny of our youths into an adventure,” the Governor added. The governor noted that unemployed youths must be empowered to move away from disillusionment to hope. He recalled that when his administration started in 2011, the Kwara Bridge Empowerment Scheme (KWABES), was designed to move youths from idleness to empowerment and ultimately to job placements.

Islamic cleric urges govt to tackle poverty, unemployment Buhari Bello Jos


he National Chairman of Jama atul Izalatul Sunnah ( jibwis) Council of Ulamma, Sheik Sani Yahaya Jingir, has urged government to tackle poverty and unemployment. Sheik Jingir stated this during an interview with the New telegraph L-R: Alara of Ilara-Epe, Oba Akeem Adesanya; Akinwunmi Ambode; Executive President of Epe Club, Chief Lanre Razak; Olu-Epe of Epe Kingdom, Oba in Jos, added that inseSefiu Olatunji Adewale, and Chief Yinka Tobun, at the civic reception held in honour of Akinwunmi Ambode to mark his induction into the Epe Club… curity in the country at the weekend would not only impede the growth of democracy but will also result in food scarcity. The Islam cleric called on the federal and the

Delta politicians, opinion leaders, drum support for Olejeme


olitical and opinion leaders in Delta State at the weekend expressed appreciation to the Delta South and Delta Central senatorial districts for supporting the shift in power base from Delta South to Delta North in 2015. At a meeting to chart a new course for the state through intellectual debate in Ute-Erumu in Ika North East Local Government Area, the leaders said, “The next governor must be someone that can keep faith with democratic principles, operate within the law and develop a passion for the common good.” The leaders who exam-

ined the vision, integrity, acumen and ability to deliver of the governorship aspirants in the state, described the chairman of Nigeria Social Insurance Trust Fund (NSTIF), Dr. Ngozi Olejeme as a political leader of great stature and significance. “What character traits qualify a person as a leader? Humility is one. Loyalty is another. Firmness and decisiveness are the others. Olejeme has a strong personality, an unassailable character and can be counted upon to deliver at any time,” leader of Delta State Political and Opinion leaders Forum, Mr. James Obaigbena, said in a statement

issued after the meeting. Emphasizing that Olejeme is the most visible expression of developmental politics in the state, the leaders called for gender change at the governorship level. “In the present situation that we find ourselves in the state, the best person that can move this state forward is Dr. Ngozi Olejeme. She is a woman of great ideas, dreams and abilities. She is a woman of principles and conscience,” they said. The leaders advised the people not to fall into the hands of powerhungry hawks who don’t empathize at all with the

down-trodden masses. “Whatever happens, PDP delegates in the state will definitely pick Dr. Olejeme to fly the party’s flag in the 2015 general elections and she is not going to win the 2015 governorship election marginally but convincingly. “Most of these aspirants, honestly after posters and billboards, are not on ground. Most of them have not done enough for the people,” the leaders said. The meeting was attended by people from all corners of the state and all walks of life, including clergymen and elder statesmen.

state governments to urgently formulate policies to tackle poverty and unemployment as part of ways to tackle the current insecurity. Sheik Jingir lamented that Nigerians are suffering prosecution in their own land but urged them not be discouraged as insecurity would soon be history. On widespread corruption among the political class in the country, the cleric advised the electorate to carefully examine anybody that will be sent to represent them as the 2015 election approaches.

Finally, Niger APC elects chairman, 28 others Dan Atori MINNA

he All Progressive ConTelected gress (APC) has finally Alhaji Jibril Ad-

amu as the party’s state chairman. He polled 1,142 votes to defeat seven others in a re-scheduled state congress held in Minna. There had been several abortive congresses. The New Telegraph gathered that the rescheduled congress commenced on Saturday at about 10am and lasted till about 11am on Sunday at the Trade Fair Complex, Minna with thousands of

the party’s delegates voting. Malam Dalhatu Batagarawa, the APC State Congress Committee chairman declared to the delegates that Adamu polled the highest vote to clinch the chairman position while Malam Tanko B. Ahmad clinched the Vice chairmanship with 1, 228 votes. Others are Malam Mohammed A. Liman, state Secretary; Dr Abdulsalami Shafi, Treasurer; Malam Ismaila Madibbo, Organising Secretary and Jonathan Vatsa, Publicity Secretary.


Sanctity of Truth

Monday, May 12, 2014

Renewed fighting in South Sudan two days after ceasefire


ew fighting broke out in South Sudan yesterday less than 48 hours after the country's president and the rebel leader agreed to a cease-fire that the U.S. secretary of state and U.N. secretarygeneral both worked to forge. Aid leaders and analysts hailed Friday night's deal, but some also voiced skepticism that it would translate to peace on the ground. Those fears were borne out as fighting again flared for a strategic oil town where horrific crimes against humanity have already occurred. Each side blamed the other for restarting the violence. South Sudan Defense Minister Kuol Manyang Juk said rebels attacked government positions near Bentiu at 6:30 a.m. yesterday. He said government troops killed 27 rebels and captured some arms. "At 8:30 they also attacked our position along the road between Bentiu and the Thar Jath oil fields. Our

forces repulsed them," he said. An opposition spokesman, Brig. Gen. Lul Ruai Kong, said government forces attacked rebels in two states. He said government fighters were in "active combat" with opposition troops around Bentiu. Kong said fighters from Sudanese militias were aiding gover nment troops around Bentiu. "The latest violations of the agreement to resolve the crisis in South Sudan shows that Kiir is either insincere or not in control of his forces," Kong said in a statement. He said the international community and IGAD, a regional bloc that brokered Friday's peace deal, should know that Kiir's forces were first to violate the agreement. Humanitarian workers hoped Friday's deal would allow residents to return home and plant crops. More than 1.3 million people have fled their homes because of the fighting, and aid experts say that if residents don't plant crops

by the end of May mass hunger is likely to set in â&#x20AC;&#x201D; and possibly even famine. The World Food Program and Save the Children on Saturday released a nutritional analysis showing that several areas in Unity state, where Bentiu is located, have food needs at "alar ming" levels, one step from famine. Up to 75 percent of the population there faces severe hunger. WFP says overall that 3.2 million people need food aid and that a "hunger catastrophe" will set in if food aid is not soon delivered. Still, given that a January cease-fire fell apart immediately after it was signed, many observers feared Friday's deal would not hold. John Prendergast, the co-founder of the Washington-based Enough Project, which does advocacy work in eastern and central Africa, said after the peace deal that it wasn't clear if the parties were serious. He

noted that troops were poised to attack each other in a number of locations. If the conflict's second cease-fire truly does fall apart, the efforts by U.S. Secretary of State John Kerry and U.N. Secretary-General Ban Ki-moon will have been moot. Both leaders flew into Juba, South Sudan's capital, in the last 10 days to push for an end to war. The fighting, which has often pitted Kiir's ethnic Dinka against Machar's ethnic Nuer, has killed thousands of people, often in what a new U.N. report last week said were gross violations of human rights "on a massive scale." In the two biggest massacres, hundreds of Nuer were slaughtered in a police holding cell in Juba in December. Nuer fighters slaughtered hundreds of people in Bentiu in April. South Sudan is a largely Christian and animist nation that broke off from the Muslim-dominated Sudan after a 2011 referendum.

China, East African leaders sign up for new rail link ast African leaders and Eagreements China formally signed yesterday

for the construction of a new multi-billion dollar railway linking the Kenyan port of Mombasa to Nairobi and running on to neighboring states. The deals were signed in Nairobi on the last stage of an Africa tour by Chinese Premier Li Keqiang, although Kenya's president, Uhuru Kenyatta, had already signed up to the deal during his state visit to Beijing last year. "The costs of moving our people and our goods ... across our borders will fall sharply," Kenyatta told a news conference with the Chinese and African leaders on Sunday. The new standard gauge line will supplement a slower narrow gauge network that now only runs to Uganda whereas the new line is designed to go on to Rwanda and South Sudan, part of an effort to cut the hefty costs of trade between east African nations which mainly rely on poor roads and the rickety narrow gauge line built in the 19th century. Kenyatta had previously said the new railway will cut freight costs to 8 U.S. cents a metric ton (1.1023 tons) per km from 20 cents now. China Road and Bridge Corporation, a subsidiary of China Communications

Construction Company, has been appointed to construct the initial Kenyan leg of the new line, despite widespread criticism that there was no competitive tendering for the work. Kenyan officials said there was no public bidding because that was a condition of securing Chinese financing but some lawmakers said the deal was overpriced. Officials previously put the price for the railway from Mombasa to Kenya's western border with Uganda at 447.5 billion shillings ($5 billion), including financing costs. China has won friends in Africa by building infrastructure across the continent, but critics grumble that it often relies on Chinese labor and is keener on sucking in African raw materials than passing on skills. China's premier told the news conference yesterday that the rail construction company would ensure African workers were trained and laws adhered to. Meanwhile Kenya signed two financing deals on Saturday with China's Eximbank, although no value was given. Officials previously said China was offering a $1.6 billion commercial loan and a $1.63 billion concessional facility for the Mombasa to Nairobi section - covering 85 percent of that section's estimated 327 billion shilling ($3.8 billion) cost.

Head lawmaker of S.Africa opposition quits he parliamentary head Topposition of South Africa's main Democratic

Fleeing South Sudanese

Gunmen free Dutch hostages


iger Delta gunmen have released three Dutch nationals who were abducted a week earlier, the Dutch foreign ministry confirmed yesterday. "I can confirm they have been freed," said ministry spokesman Johanne Doornewaard, adding that they were in good health. He said he had "no information" on whether any ransom was paid for the release of the trio. Earlier a Nigerian activist who had accompanied the trio had announced their release.

Am s t e rd a m - b a s e d environmental activist Sunny Ofehe and the two Dutch men and one woman, were seized last Sunday after armed men in a dinghy stormed their boat.The group, which included another Netherlands-based Nigerian, were blindfolded and eventually taken to an unknown location where the two Nigerians were released. "I just want to inform everyone that they are free, and that they are safe and in good health," Ofehe told Dutch broadcaster NOS TV. The

Dutch foreign ministry spokesman said the released hostages were still in Nigeria and that the Dutch ambassador had been sent to the Delta region to meet them. Scores of foreigners have been abducted in the southern Niger Delta region, home to Africa's largest oil industry, with many released on payment of a ransom. Employees of foreign oil companies are required to have an armed escort when travelling in the Delta, but international journalists,

aid workers and others typically avoid taking a security detail. Dutch printing company Gerrits & Leffers had confirmed that two of its employees were among those abducted and that the pair was in Nigeria to help Niger Delta peace activists publish a magazine. The third Dutch national was a documentary filmmaker, NOS TV reported, and the group was en route to visit a hospital financed by oil company Chevron when the kidnapping took place.

Alliance, Lindiwe Mazibuko, has unexpectedly resigned after a general election that saw her party's support grow, according to comments published yesterday. Mazibuko, 34, a rising star in the party, said in South Africa's Sunday Times that she would leave to study at Harvard University in the United States for a year. "I took the decision in September when, during a visit to Yale University with others pursuing high-profile careers, the value of such a break became clear to me," she was quoted as saying. "I had considered it before, and I believe the decision is the right thing at the right time for the DA and for me because it will improve what I can offer the DA politically." Mazibuko was number three on the party's national election list, and set to

head the party's enlarged 89 seats in parliament after winning 22.23 percent in last Wednesday's poll. The ruling African National Congress took 62.15 percent in the vote. She denied that a spat with party leader Helen Zille last year over opposing views on the DA caucus influenced her decision. Well spoken Mazibuko became a Member of Parliament after the previous polls in 2009 and caucus leader two years later, gaining respect for well thought-through answers and impressive performances in debates. But detractors criticised her as a figurehead handpicked by Zille in an effort to shake off the DA's image as a party for whites in a country where race-based politics still is very important. Neither Mazibuko nor party spokespeople was immediately reachable for comment.


Sanctity of Truth

Monday, May 12, 2014

S. Korea’s parliament to probe ferry disaster


outh Korea’s parliament is to open an investigation into the ferry disaster that has left 300 people dead or missing, politicians confirmed yesterday, as the government counters criticism of its handling of the tragedy. A special parliamentary session will open this week and a number of committees will begin work from today (Monday), the government and opposition said, dedicated to confirming the cause of and responsibility for the sinking of the Sewol. Park Young-Sun, of the main opposition New Politics Alliance for Democracy, said the session would focus on “a

(parliamentary) investigation, the nomination of a special prosecutor and hearings.” The ruling Sanuri party’s leader of parliament Lee Wan-Koo told a joint press conference it would “make efforts to prevent a recurrence of such a disaster.” The confirmed death toll stands at 275 with 29 still unaccounted for, more than three weeks after the ship capsized off the country’s southern coast. victims’ families have been extremely critical of nearly every aspect of the government’s handling of the disaster, and had demanded a government investigation in addition to the police’s efforts. They want explanations for perceived delays in the initial

rescue effort, and are calling for those they believe responsible to be punished. The recovery operation remained suspended as at yesterday due to a looming storm and high tides. Despite enormous hazards and challenges, including nearzero visibility and strong currents, divers have been under immense pressure to retrieve all

the trapped bodies as quickly as possible. But as days go by, they are retrieving fewer and fewer bodies. Partition walls on the ship have started warping and are at risk of collapsing, complicating their work. Many relatives believe some children may have survived for hours or even days inside air pockets in the cap-

sized ferry, but died because rescuers took too long to access the submerged vessel. The Sewol was carrying 476 people when it sank on April 16 after listing sharply to one side and then rolling over. Of those on board, 325 were children from a high school on an organised trip to the southern resort island of Jeju.

East Ukraine referendum raises fears of dismemberment


eparatist rebels pressed ahead with a referendum on self-rule in east Ukraine yesterday and fighting flared anew in a conflict that has raised fears of civil war and pitched Russia and the West into their worst crisis since the Cold War. In Mariupol, scene of fierce fighting last week, there were only eight polling centers for half a million people. Queues grew to hundreds of meters in bright sunshine, the event taking on an almost festive atmosphere as one polling station overflowed and ballot boxes were brought out onto the street. Clashes broke out around a television tower on the outskirts of the rebel stronghold of Slaviansk shortly before voters made their way to polling stations through streets blocked by barricades of felled trees, tires and rusty machinery. “I wanted to come as early as I could,” said Zhenya Denyesh, a 20-year-old student, second to vote at a concrete three-storey university building. “We all want to live in our own country.” Asked what he thought would follow the vote, organized in a matter of weeks by rebels, he replied: “It will still be war.” Western leaders threatened more sanctions against Russia in the key areas of energy, financial services and engineering if it continued what they regard as efforts to destabilize Ukraine. Moscow denies any role in the fighting or any ambitions to absorb the mainly Russianspeaking east, an industrial hub, into the Russian Federation following its annexation of the Black Sea peninsula of Crimea after a referendum in March. Ukraine’s

Interior Ministry called the referendum a criminal farce, its ballot papers “soaked in blood”. One official said that two thirds of the territory had declined to participate. For a vote on which so much hangs, the referendum in the regions of Luhansk and Donetsk, which has declared itself a “People’s Republic.”

Family members holding the portraits of the victims of the sunken ferry, Sewol, sit on a street near the presidential Blue House in Seoul, South Korea, on Friday. PHOTO: AP/Lee Jin-man

Suicide bomber kills six soldiers in latest Yemen


suicide car bomber killed six Yemeni army officers and wounded many others yesterdy after targeting a military police building in the southern coastal city of Mukallah, a local security official said. The blast appeared to be a revenge attack by al Qaeda over the Yemeni army’s campaign to crush Islamist insurgents in two large southern provinces. This has ousted many militants from towns they first seized during mass unrest in 2011, jeopardizing national security and posing a serious threat to ma-

jor oil producer Saudi Arabia next door. Local officials picked through the rubble of the twostorey building to search for survivors from the blast, which hit the complex as the soldiers were having lunch, the official said. “There are six soldiers killed and the toll is likely to go up ... we cannot tell the wounded from the dead,” he said. Residents said ambulances had been evacuating the wounded from the scene of the blast which had sent shrapnel flying into nearby residential

buildings. “It was a strong explosion and it shook Mukallah,” resident Salah al-Hamawi told Reuters by telephone. In a separate assault in the Yemeni capital yesterday, three gunmen were killed after they tried to attack a security checkpoint, the Interior Ministry said, the second such incident close to Sanaa’s presidential palace in as many days. The checkpoint attack also appeared to be retaliation for the army offensive, which state news agency Saba said had killed and wounded hundreds of al Qaeda

members. Western powers are concerned al Qaeda in the Arabian Peninsula (AQAP) could use Yemen as a springboard for future international attacks. Keen to stem a stubborn Islamist insurgency that has targeted security forces, military facilities and foreigners, Yemen’s army went after the militants last month in the south. Citing a military source, Saba said the military had recently killed dozens of al Qaeda leaders, most of them foreigners.

Polls open for presidential election in Lithuania


olls opened yesterday for the presidential election in Lithuania, where tough-talking incumbent Dalia Grybauskaite is widely expected to be reelected for a second term. The presidential election is the sixth since the former Soviet republic regained independence in 1991. Seven candidates are competing in the race and recent opinion polls showed 58-year-old Grybauskaite, who was previously EU budget commissioner and Lithuania’s finance minister, winning about 47 percent of the

vote. Although the polls put her far head of rivals, she is below the simple majority needed to avoid a runoff, to be held along with European Parliament elections on May 25. In a country occupied by the Soviet Union during the Cold War, Grybauskaite’s approval ratings have risen after her strongly worded rejection of Moscow’s annexation of Crimea and her staunch support for boosting NATO forces in Lithuania. “Europe must understand

that Russia is trying to redraw the post-war map and borders,” Grybauskaite told reporters recently. “First, its Ukraine, Moldova will be next and, finally, it can reach the Baltic States and Poland. This is a serious threat to our region.” Each of her closest rivals, populist Labor lawmaker Arturas Paulauskas and European Parliament member Zigmantas Balcytis, a social democrat are far behind, both with 10 percent ratings. The margin of error in the April 4-9 survey of

1,001 people by pollster Vilmorus was 3.5 percentage points. Grybauskaite is an economist who was educated both in the Soviet Union and the United States. She became Lithuania’s first female president when she was elected in 2009. With her re-election seen as all but certain, critics say Grybauskaite’s lead has sucked all the energy out of the race. “I have never seen in any country such a dull election campaign,” former president Valdas Adamkus told lawmakers in parliament.

Dzeko, not Suarez EPL best player - Mourinho

Transfer: Egwuekwe sad over Wolves’ outrageous fees

Liverpool will bounce back -Rodgers






Monday, MAY 12, 2014


Did you know?



That after testing positive for cocaine in Italy in 1991 and 1994 World Cup, Diego Maradona decided to work on hiding the evidence by taking a drug test with a fake plastic piece of manhood with clean urine

I respect Keshi’s decision }P.54

– Ike Uche




Manchester City reclaim EPL title M

Manchester City being crowned Premier League champions for the second time in three seasons after beating West Ham 2-0 at the Etihad Stadium on Sunday

anchester City were crowned Premier League champions on Sunday, as they beat West Ham 2-0 at the Etihad Stadium. Samir Nasri opened the scoring just five minutes before the break. Just after half time the win was sealed as captain Vincent Kompany hammered home from close range and City’s fans enjoyed the rest of the match. City clinched their second PL title in three seasons in comfortable fashion as West Ham hardly tested the Citizens. Manuel Pellegrini has delivered the PL title in his first season in charge of City, as the Blue half of Manchester will party way into the night.

At the final whistle City’s players sunk to their knees in celebration, as fans flooded the pitch, after winning five of their last six games to put them top of the standings on 86 points after scoring 102 goals in their 38 PL games this season. Over the course of the season, City showed their were the PL’s best. Tension was in the air at the Etihad early on as City tried to get an early goal to ease the nerves. In the 10th minute Pablo Zabaleta raced down the right wing after a neat one-two and clipped the ball to the back post to find an unmarked David Silva but the Spaniard blasted the ball way over the bar as Pellegrini had a wry smile on his face.


Sanctity of Truth

Monday, May 12, 2014

Dzeko, not Suarez EPL best player - Mourinho


ose Mourinho believes Manchester City striker Edin Dzeko is the Premier League’s player of the year, rather than Liverpool’s Luis Suarez. The Uruguayan frontman has been recognised by both the Professional Footballers’ Association and the Football Writers’ Association after scoring 31 goals in 32 Premier League appearances for the Anfield outfit this season. However, Chelsea manager Mourinho believes the awards should always go to a player from the league winners and suggested Dzeko would have been a more deserving recipient with City on the brink of the title. “Luis Suarez is a very good player,” he is quoted as saying in the British press. “They’re not voting for a player who has no quality.

Dzeko (left) and Gerrard

“(But) the profile of a player who wins the player of the year is not the profile of player who used to win in English football 10, eight, six years ago. “He bit (Chelsea’s Branislav Ivanovic) not this season but the previous season. This is a different season. I’m not speaking about one mistake that a man can have. You don’t have to be punished for the rest of your life if you make a mistake on the football pitch. “(But) my player of the year would be always from the champions, in every condition. “If the champion is Man City - they need a point - I would say a Man City player and if I have to choose one, I would choose Dzeko. “The kind of player he is, he’s not just a goalscorer. He assists, he plays, he behaves, he’s fair, doesn’t dive, doesn’t try to put opponents in the stands with accumulation of cards.

Milan’s European hopes fade


C Milan suffered a setback in their bid to qualify for the Europa League next season as they fell to a last-gasp 2-1 defeat to local rivals Atalanta. An own goal from Gianpaolo Bellini gave the Rossoneri the lead early in the second half, but a second-half penalty from German Denis brought the Nerazzurri level at the Stadio Atleti Azzurri D’Italia. Milan pushed for a winner, but it was Atalanta substitute Franco Brienza who found it for the Bergamo side with the last kick of the game. The result was overshadowed, however, as a banana was thrown at Milan’s Kevin Constant.


Bayern Celebrates, Nuremberg, PSG dent Enyeama’s Champions League hopes Braunschweig Demoted


ayern Munich finally celebrated winning its 24th German championship after the last Bundesliga game of the season. The club captain Philipp Lahm lifted the championship shield to kick off the party in a sea of red and white confetti in Munich after Claudio Pizarro’s injury time strike secured a 1-0 win over Stuttgart.

Nuremberg and Eintracht Braunschweig were relegated, and Bayer Leverkusen clinched the league’s last Champions League qualification place. Leverkusen came from behind to beat Werder Bremen, 2-1, and secured fourth place. Nuremberg lost, 4-1, at Schalke, and Braunschweig stayed at the bottom with a 3-1 loss at Hoffenheim.

Ike Uche,Obasi reply Keshi with goals Ajibade Olusesan


ke Uche and Chinedu Obasi have reacted to their exclusion from the World Cup provisional squad by scoring for their respective clubs in Europe. Uche whose omission from the list has generated most reactions reminded Nigerians of his quality when he scored in Villarreal’s 4-0 with over Rayo Vallecano on Saturday. The former Getafe hit man scored I the 22nd minute to open the score for the Yellow Submarines. The Nigerian who has racked 23 league games managed 13 goals in those appearances. In similar vein, Obasi shrugged off the pain of his exclusion from Coach Stephen Keshi World Cup squad to score in Schalke’s 4-1 win over Nurnberg. The former Hoffeinham striker scored in the 94th minute to complete the rout for his team.



aris Saint-Germain celebrated their Ligue 1 title triumph with a 3-1 victory at 10-man Lille that leaves Les Dogues worrying about their Champions League place.

Laurent Blanc’s PSG retained the French championship in midweek despite losing at home to Rennes and atoned for the muted festivities by producing a winning performance at Stade Pierre-Mauroy. After Marvin Martin saw red for the hosts following his crunching challenge on Yohan Cabaye, Marquinhos opened the scoring shortly before halftime. Lucas Moura and Blaise Matuidi put the champions out of sight with second-half goals but Jonathan Delaplace would pull a goal back for Lille

at the death. Yet when the dust had settled, Lille found their grip on third place had slipped as rivals St Etienne had closed to within two points of snatching their Champions League berth by beating Nantes 3-1. Guingamp assured themselves of Ligue 1 football for another season as they beat Toulouse 2-0. With Sochaux and Evian playing each other next week there is no way Guingamp can be caught by the two sides below them who remain in trouble, and they can now revel in staying up after only being promoted a year ago.

Ronaldo: I want to score in the Champions League final

Meanwhile, top stars like Emmanuel Emenike, Osaze Odemwingie, Shola Ameobi, Ahmed peaking at a sponsored event Musa fired blanks for their refor Samsung, Cristiano Ronspective clubs in Europe. aldo fielded some questions Mikel Obi reabout Real Madrid’s turned to the startPREMIER LEAGUE season and the uping lineup of Chel- SN TEAM P PTS coming Champisea as the Blues 1 Man City 38 86 ons League final defeated Cardiff 2 Liverpool against Atletico 38 84 City while Victor 3 Chelsea 38 82 Madrid. Moses was not even 4 Arsenal 38 79 And Cristiano said that though listed by Liverpool 5 Everton 38 72 as they failed to win 6 Tottenham 38 69 the Premier League 7 Man United 38 64 despite 2-1 win over 8 Southampton 38 56 Glo Premier League Newcastle. 9 Stoke City 38 50



10 11 12 13 14 15 16 17 18 19

Newcastle C/ Palace Swansea City West Ham Sunderland Aston Villa Hull City West Brom Norwich City Fulham

38 38 38 38 38 38 38 38 38 38


Cardiff City


49 45 42 40 38 38 37 36

33 32 30

the record he just broke is great and all, he wants more, saying, ‘I wanna score in the final’. “Well as I said before many, many times, when we start this competition we always thinking step by step. Now we are in the final, we beat many good teams we are in the final against a great team in my opinion who deserve to be there.” Cristiano Ronaldo

said, “So it will be tough. Finals is always like that, it doesn’t matter which team we play against, it’s always tough, it’s 50-50. So I’m looking forward of course to win the fans, the players are excited to win this amazing trophy and of course I am very excited too but let’s see.

Results English Premier League

Bayelsa 2-1 Enyimba

Cardiff City 1 - 2 Chelsea

Sunshine 2-0 Giwa FC

Fulham 2 - 2 Crystal Palace

Spanish La Liga

Hull City 0 - 2 Everton

Atalanta 2 - 1 AC Milan

Liverpool 2 - 1 Newcastle

Bologna 1 - 2 Catania

Man City 2 - 0 West Ham


0 - 1 Chievo

Norwich 0 - 2 Arsenal


0 - 1 Fiorentina

Southampton 1 - 1 Man United

Sampdoria 2 - 5 Napoli

Sunderland 1 - 3 Swansea City

Sassuolo 4 - 2 Genoa

Tottenham 3 - 0 Aston Villa West Brom 1 - 2 Stoke City



Sanctity of Truth

Monday, May 12, 2014

Transfer: Egwuekwe sad over Wolves’ outrageous fees

C’ Wealth: Toriola, Quadri sure of table tennis medals Emmanuel Tobi


Ajibade Olusesan


uper Eagles defender, Azubuike Egwuekwe, is furious with his club, Warri Wolves, over his botched transfer to Europe. According to a source close to the player, Egwuekwe believes greed of his Nigerian side has ensured he remains in the country after several attempts to take his football to Europe. The source said the player got several offers from clubs in Belgium, Bulgaria and Germany in the past few months but the 350 thousands euro price tag has been the predicament. “Egwuekwe is not happy with the management of Warri Wolves because of the way they have treated his transfer. The price they have placed on him is too much and his plea to them to bring it down so that he can start playing abroad fell on deaf ears. “But he has now come to a conclusion that he will have to force his move if Wolves are adamant. He has decided not to renew his contract with them at the end of the current one. The existing contract will run down in few

Canada 2014: Dedevbo shortlists four Flamingoes Mercy Jacob


igeria female U-20 coach, Peter Dedevbo, has invited four players from the Under-17 team, the Flamingoes, among the 35 Falconets players for the side’s last phase preparations for the FIFA Under-20 Women’s World Cup in Canada in August. According to Dedevbo, “The four Flamingoes players made up of two attackers and defenders are equally invited, namely Chinwen-

du Ihezuo, Uchenna Kalu, Esther Elijah and Ugochi Emenayo. He added; “These four players are the ones considered of great value to our preparations among the other Under-17 players and we hope the value we see in them to warrant invitation they’ll live up to the billings when we resume training.” Nigeria will play in Group C with Korea Republic, Mexico and England. The Falconets first game on August 6 will be against Mexico.

Egwuekwe (left) in action for Warri Wolves

months and he can decide where he wants to go,” the source said. The defender was in the Super Eagles’ victorious Nations Cup team of 2013 and

Suswam showers plaudits on Maigari

lNorth Central zone endorses him for second term


he Executive Governor of Benue State, Gabriel Suswam, at the weekend praised the impressive strides of the current NFF administration, and said the Aminu Maigari team should be allowed to continue in office for stability. Speaking through his deputy, Chief Steven Lawani, during a courtesy call in his office by a large delegation of NFF Executive Committee, Management and Staff, members of the NFF Congress and other stakeholders, Suswam, through Lawani, enumerated the on-field accomplishments of the NFF team and gave the body kudos for off-field achievements as well. “Your team has won the FIFA U-17 World Cup, the Africa Cup of Nations, African Youth Championship, African

NBBF boss hails Omorodion’s appointment Ifeanyi Ibeh


resident of the Nigeria Basketball Federation, Tijjani Umar, has hailed the appointment of Patrick Omorodion as the Special Adviser on Media to the Minister of Sports, Tamuno Danagogo. The NBBF president explained that the entire basketball family in Nigeria and the Diaspora congratulate Omorodion who remain a Board Member of the Nigeria Basketball governing body. “Omorodion’s appointment as the Spe-

he also made the cut in the 30-man provisional World Cup team of Nigeria released by Head coach, Stephen Keshi last week in Abuja.

geria and the Diaspora. “Since becoming board member of the NBBF, Omorodion has made some landmark contributions to the advancement of the game and we wish him the very best in his new appointment as he assume duties,” the NBBF boss said. Omorodion’s position as board member of the Basketball action between NBBF remains intact at Royal Hoopers and he has relinquished his Islanders in Port Harcourt position as the head of over the weekend. the basketball federacial Adviser on Media to the tion media committee. The National Vice-President of Honourable Minister for Sports is a welcome development not the Sports Writers Association of for Omorodion alone for the Nigeria has since resumed in his whole basketball family in Ni- duty post in Abuja.

Women Championship and other trophies, and easily qualified Nigeria for the FIFA World Cup finals. “The people of Benue State are indeed happy with you and your team and also happy with the achievements of the League Management Company, which you midwifed and which has done so much to bring sanity and progress to the domestic league,” Lawani stated. Meanwhile, the North Central zone of the country has endorsed the NFF President, Alhaji Aminu Maigari, for a second term in office, according to a communiqué released at the end of the zone’s summit in Makurdi at the weekend.

igeria Table Tennis medal hopeful, Segun Toriola and Aruna Quadri have expressed optimism in the abilities of Nigerian team winning medals at the year’s Commonwealth Games in Scotland stating that the team will bank on the experience garnered at World Team Table Tennis Championship in Japan. Having played against some of the Commonwealth teams in Japan, the players believed this has given them the opportunity to have an overview of what to expect in Glasgow. For Quadri, the chance of climbing the podium in Scotland is certain. “Having played against Commonwealth teams and succeeded, I think our chances of winning medals in Scotland have increased. We shocked England, one of our threat of winning medal and our performance in Japan is a good sign that table tennis will pick medals in Glasgow.” On the lessons from Japan, Toriola said; “We have learnt a lot from Japan because we saw the problems and how to fix them. I believe the team will work on it during the camping before Glasgow Games.”

U-20 AYC: F’Eagles in bright start


igeria’s Flying Eagles got off to a bright start in the 2015 AYC qualifiers after they beat hosts Tanzania 2-0 in Dar es Salaam in a second round, first leg clash on Sunday. The Flying Eagles scored in the 49th minute through Musa Yahaya and killed off the contest in the 82nd minute courtesy of striker Taiwo Awoniyi. “This win away from home is very good for us going into the return leg match in Nigeria,” Flying Eagles coach, Manu Garba, told reporters after the match watched by a fair crowd at the 60,000-capacity National Stadium in Dar es Salaam. “Tanzania also showed they are a very good side, but they will have to work on their finishing. “Overall, it was the better team that won even though I was not completely satisfied with the final 15 minutes of the game as we sat

back in our defence,” Manu added. However, Ngorongoro of Tanzania coach, John Simkoko, insisted they have not given up hope and said they will battle in the return match in Nigeria in a fortnight. “Nigeria were the better team and deserved to win,” he admitted. “But the battle is not over yet as we will come prepared to win in Nigeria.” It was a goalless first half, but Nigeria enjoyed more of the ball possession and created more chances with their biggest opening coming after 24 minutes, when Musa Yahaya blasted wide from inside the six-yard. Newly drafted striker Saad Kipanga from Mbeya City also had a glorious chance to put his team ahead after just five minutes, but his header from inside the box missed its target. Kelechi Iheanacho, who replaced Alhassan Ibrahim ‘Mu-


Sanctity of Truth

Monday, May 12, 2014

I respect Keshi’s decision – Ike Uche Ifeanyi Ibeh


illarreal striker, Ikechukwu Uche, has exclusively told New Telegraph that he respects Stephen Keshi’s decision to leave him out of the World Cup-bound Super Eagles. Uche hasn’t played for the Super Eagles since February 2013, at the last Africa Cup of Nations in South Africa, but a lot of fans remained optimistic of his inclusion in Nigeria’s final squad for Brazil 2014 due to his impressive form this season in the colours of spanish club, Villarreal. The 30-year-old was however left out of Nigeria’s provisional 30-man list, but he insists he holds no grouse against the national team selectors. “I respect the decision and I don’t feel too bad about it,” Uche told New Telegraph. “We have a lot of good players playing for Nigeria and we cannot all play at the same time. “The coaches have a plan in mind and we all cannot fit into that plan, so I absolutely respect the decision to leave me out and wish the team all the best. I will be following their progress in Brazil and will be praying for the guys to bring us joy.” The Super Eagles will be competing alongside Argentina, Bosnia-Herzegovina and Iran in Group F, and are optimistic of getting out of the World Cup group stage for the first time in 16 years. Uche shares that optimism despite the ‘difficult’ group the team finds itself. “We are in a difficult group but I am confident we can go very far in Brazil and urge all Nigerians to set aside their differences and pray for the team,” continued the former Getafe striker. “It’s not going to be easy but something tells me, we will

World Cup: Onigbinde offers Keshi success tips Mercy Jacob


ormer Super Eagles coach, Adegboye Onigbinde, has called on Stephen Keshi to focus on raising a formidable squad from the provisional list he released last Tuesday rather than listen to comments and suggestions from the public. Onigbinde, in an interview with New Telegraph, enjoined Keshi to prepare his team in all areas of fitness stressing that there are no shortcuts to success. He said, “Keshi has made his choice of players for the World Cup and he is the only one that has the power to do that because his decision is final. I believe the pattern which he wants to play in the World Cup was what informed his choice of players, so we need to support and allow him to do the job since he is the one that will receive the blames if his team fails, and praise if they excel,” said Onigbinde, who appointed Keshi as national team skipper prior to the 1984 African Cup of Nations in Cote d’Ivoire. However, I have already told him that he should ensure he gives his boys the right preparation and train them in all areas of fitness which involves, tactical, technical, psychological and physical.

shock the world in Brazil.” Uche also thanked football fans for all their recent words of encouragement and promised to be available for selection whenever he is called upon to play for the Super Eagles, he said. “There is no feeling greater than playing for your country. Nigeria made me the player I am and I will always make myself available whenever I am needed. “Bringing joy to the faces of our fans is what keeps us going strong and I

just want to use this opportunity to say a big thank you to everyone out there and urge them to respect the coach’s decision, and to pray for our team to do well in Brazil.” Uche had earlier on Saturday, taken to Twitter to wish his Super Eagles teammates all the best in Brazil. “I wish my colleagues all the best in Brazil. To the fans, I’d like to thank you for your support. Let’s get behind the Eagles in Brazil,” he tweeted.

NTTF to revamp female team Charles Ogundiya


he Nigeria Table Tennis Federation has said they are looking out for new talents to replace some of the ageing players in the national team especially the female team. Speaking on the performance of Team Nigeria at the last World Table Tennis championship in

Nigeria duo of Fengor Ogude (middle) and Mikel Obi chasing Argentina Lionel Messi

Tokyo, Japan, where the female team avoided relegation by whisker, the president of NTTF, Wahid Oshodi, said it was time to replace the likes of Funke Oshonaike. The Oshonaike led team avoided relegation by winning their classification matches against Peru, Turkey and Israel. In an interview with our correspondent in Lagos, the president said; “There is still a lot of works to do especially with our female team. Our flag bearer for so many years, Funke Oshonaike, fought a good battle, but she is 40 years now, the age is starting to catch up. “Offiong Edem and Cecilia Otu, also tried their best, but we are looking for new players to challenge them, a bit of complacency is already getting into that team, we don’t have too many players challenging. We will be looking for a way to get new players, the Lagos Table Tennis Classics is next month and we are going to look at the players coming for the event.”

Pellegrini demands more trophies

lAs Nasri, Hart hail coach


anuel Pellegrini is already targeting more glory with Manchester City after claiming the Premier League title with a 2-0 victory over West Ham at the Etihad Stadium. “Big teams cannot be satisfied just with one title. It is very important that we have won two titles in the year. We must celebrate today and tomorrow. On Tuesday we will start working for next season, because for the club and the players it is so important.” Meanwhile, Manchester City’s title winners lined up to pay tribute to manager

Manuel Pellegrini as he secured Premier League title glory in his first season at the club. “It’s an amazing feeling,” Nasri told Sky Sports. “The manager has done an amazing job. He has remained calm all season and allowed us to play attractive football. It was a pleasure to work with him. Goalkeeper Joe Hart also hailed Pellegrini after a fine end to a season in which the England No. 1 was dropped following a dip in form. “He’s a winner,” Hart said. “He wants us to win. He believes in what he does and is

prepared to do what he needs to do to win the league. We have a great backroom staff and we have amazing people who work for Manchester City.”

Kompany and Pellegrini

Liverpool will bounce back -Rodgers

lAs Gerrard keeps title faith



iverpool boss Brendan Rodgers has vowed they will improve and come back even better next season after missing out on the Premier League title. The Reds came up short in their attempts to win their first title in 24 years as Manchester City’s 2-0 win over West Ham ensured Liverpool’s 2-1 victory over Newcastle was not enough to finish in top spot.

“Well it’s been brilliant, we have been on an incredible journey this year to finish with 12 wins out of 14 and a draw is an incredible achievement by the players,” Rodgers told Sky Sports News. “That was a tough game for us today a great way to finish, unfortunately we didn’t get the title, but we have shown great hope for the future going forward. Similarly, Steven Gerrard has said that he be-

lieves Liverpool will be involved in the Premier League title race again next season. “It took me until I’m 33 to really experience a proper, genuine title race. This squad is very young, and the experience those lads are going to gain from this rollercoaster is going to be very important. I believe the title is not too far away if we continue to produce performances like we have done this season.


Sanctity of Truth

Monday, May 12, 2014

2015: Nobody can stop Jonathan’s re-election bid – Airhiavbere Cajetan Mmuta BENIN


he National Coordinator of the Goodluck to Goodluck (G2G) 2015 project, Major General Charles Airhiavbere (rtd) yesterday cautioned opposition groups against the re-election of President Goodluck Jonathan that no amount of distractions will stop the president’s re-election bid. He said no intimidation from Boko Haram or any other blood thirsty group can stop the incumbent President from realizing his re-election bid come 2015 general elections in the country. Airhiavbere, who was the PDP governorship candidate in the April polls stated this in Benin when he hosted over 4,500 ex-militants officers from the Ijaw community in the state. He said President Jonathan needs the support

of every Nigerian to continue the good works he is doing for the citizens across the country. He urged the people not to lose their focus because of the activities of Boko Haram or any other security challenges in the country. According to him:“Nigeria will not collapse under Jonathan; nothing will stop Jonathan- God has ordained him and no going back on our mandate which is to return Jonathan in 2015. He is a moving train and will crush any obstacle on the way’. He added that, “we will do our best to ensure that no criminality and no terrorism in Edo State”. Secretary of Ijaw National Congress, Benin chapter, Rev Wotu Seigha Elijah, who led the Ijaw community to swore to an oath to defend Jonathan’s re-election project had invoked the spirit of Egbesu , Ijaw idol.


FG allays Nigerians’ fear over food shortage INSURGENCY

No cause for alarm as government says there is enough for the stomach Lateef Ibrahim Abuja


he Federal Government at the weekend declared that the crises between the farmers and Fulani herdsmen in Benue, the state known to be the food basket of the nation, as well as in other states like Nasarawa, Taraba and Plateau among others, would not in any way lead to food crisis in the country. The government specifically pointed out that the various reforms it has put in place in the

area agriculture are already yielding positive results. The Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina gave the assurance at the weekend in Abuja while speaking a leadership forum organized as part of the transformation agenda of the President Goodluck Jonathan-led administration. Dr. Adesina pointed out that if Nigeria did experience food crisis last year despite the massive flood that ravaged the country, there was no justifiable reason for anybody to entertain any fear concerning imminent food shortage in the country. The various reforms of the government in the areas of agriculture, ac-

cording to the Minister, are in areas fertilizer supply, rice production, livestock and dairy farming, cassava, palm oil, wheat, cotton, cotton and tractors among others. According to the Minister, “So there is not going to be food crisis as the result of the conflict. In 2012 when there was flood, you remember that time, I stood up and I said we are not going to have any food crisis and we didn’t. I know we are producing a lot of food. “It is unfortunate that we have that conflict there, but the conflict is an underlined problem that we need to deal with but we are not going to have food crisis. We are going to stock up our own strategic grain reserve and be able to distribute food in any

area that is affected”, he emphatically said. Dr. Adesina who pointed out that Nigeria has no business importing food items, said “we have the potentials. We have the land, water, cheap labour and the big consumer market of about 167million people to eat whatever we produce and add to it in Nigeria. “Mr President launched the agricultural transformation agenda, ATA in 2011 when he sworn me in as minister of agriculture and the agenda was to add 20million metric tons to our domestic food from 2012 to 2015, and that we will create 3.5million jobs most of which will be seasonal jobs via agriculture.”

‘Why Ondo school shuttle is successful’


he Ondo State Government has given reasons for the successful implementation of its Free School Shuttle initiative. The initiative will be two years on June 12. Fielding questions from newsmen in Akure, the state capital at the weekend, in company with his Transport Ministry counterpart, Nicholas Tofowomo, the state Commissioner for Information, Mr Kayode Akinmade, said the free school shuttle programme has been successful because of the political will of Governor Olusegun Mimiko and the operational design of the programme, which made it civil-servant driven. “The programme is basically a social responsibility effort of government and one of the caring heart programmes of Governor Mimiko” Akinmade said, adding that “ it’s

one of the ways the government has been able to demonstrate its sincerity to serve the people and justify its mandate” Speaking in the same vein, the Transport Commissioner, Tofowomo said “the free school shuttle was started in Akure here; the drivers we employed have a minimum of school certificate. They are civil servants and they are trained to look after the vehicle if it breaks down. “We have Transport Operations in the ministry with a director who drives the concept.” Also speaking on the success being recorded through other endeavours of the Transport Ministry, Tofowomo said for the ultramodern motor park, otherwise known as Drivers airport, the National Union of Road Transport Workers (NURTW) is in the system.

President, Dangote Group, Alhaji Aliko Dangote (left), consoling the widow of late Micheal Otedola, Lady Doja, during Dangote’s condolence visit to Epe, Lagos…at the weekend

Confab: Ex-Minister calls for new order Muhammad Ahmad Lafia


member of the ongoing national conference and former Minister of State for Justice, Musa Abdullahi Elayo, has advocated for a new system of government that could accommodate Nigeria’s diverse ethnic groups. Speaking to New Telegraph in an exclusive interview in his country home, Keana Local Gover nment area of Nasarawa State, Barrister Elayo

also proposed for the conduct all elections in one day “We must look at a system that will incorporate and work for our people and don’t forget that Nigeria is multilingual, multicultural, multi-religious country, coupled together by the colonial masters without regards to our history or culture. Therefore, we must look at the aspiration of every minute tribe, accommodate its fears and aspirations and once we look a system

like that, it will work better for us”. Elayo also proposed the conduct of all election in one day, which he said will prevent bandwagon effect and reduce cost. “If I am given the opportunity for a general election, I will propose a single day elections. That’s a non staggered election, an election that takes place in a day”. “An election involving the House of Assembly, governorship, National Assembly

and the presidential election and I believe by the time you do it that way. First, it reduces cost and eliminates b a n dw a g o n effect of a previous election”. Elayo, who is a representative of the House of Representative at the ongoing conference, explained that the conference will evolve new ideas that would further unite the country and create conducive environment for further integration.

World Record

On Marble Honesty is the first chapter in the book of wisdom. – Thomas Jefferson

Sanctity of Truth

w w w. new tel eg rap ho nl i ne. co m

Three things cannot be long hidden: the sun, the moon and the truth – Buddha MONday, MAY 12, 2014


Alexey Denisenko (Russia, b. 30 August 1993) won a bronze medal in the men’s 58 kg division at the Olympic Games in London, UK, on 8 August 2012 aged 18 years 344 days.

iKure - Healthcare kisses software development Carolyn Marie Flore


Kure - a Kolkata-based social enterprise dedicated to bringing affordable health care to India’s poorest populations - has created these spot camps as an integral part of their inventive model for a network of health clinics in India’s rural areas. In addition to providing access to doctors and medicine prescriptions, they provide the necessary outreach to tell villagers about where and when the clinics are and how they can access medical consultations and medicine. To understand iKure’s creative approach to bringing health care to those most in need, think about it like a bicycle wheel. At the hub, there is a main clinic that acts as the base for an additional 21, strategically placed spoke clinics: acting as the spokes emanating from the wheel and serving a potential population of 175,000 people. The hub is a traditional clinic with a doctor, paramedical assistant, and two health workers on call. Throughout the week, the medical staff will rotate at fixed times to the spoke clinics, which are located within a 15 mile radius of the hub. Walking into the spoke clinic in Bolpur, we see that, like many other clinics, it consists of basic, one room offices, with maybe a bed, a desk, and a chair. Regardless of the basic nature, patients are diagnosed, prescribed and given medicine, and given care for the affordable and uniform price of 80 Rps. The spot camps, like the ones mentioned earlier, let people know where the nearest spoke clinic is and when it is open. iKure’s innovation in the delivery of health care to India’s poor does not stop at its hub and spoke clinic model. Through the use of proprietary software, Wireless Health Incident Monitoring System, or WHIMS, iKure is able to collect health information of patients in an efficient and technology-enabled manner. This allows them to utilize Android tablets, armed with the WHIMS platform, and work in areas where internet is scarce – due to low bandwidth – and electricity is erratic at best. This diagnostic tool is used to collect vital patient infor mation for health screenings as well as early detection or monitoring of diseases.

Sujay’s team attending to the rural communities in desperate need of health services

iKure is one of 20 innovative social organizations that has been short listed as finalists for the 2014 India Development Marketplace, all of whom have proposed incredible projects that truly help the poorest populations in India iKure’s model is as innovative as its founder, Sujay Santra. A software developer by training, Sujay conceptualized the iKure’s model after he witnessed the trials and tribulations his own father had in accessing healthcare when he became ill. Through iKure’s hands on approach, Sujay saw the possibility of helping as many people as he could get access to quality healthcare. For the 2014 India Development Marketplace, Sujay and the rest of the iKure team proposed to expand their grassroots operations to Meghalaya in a publicprivate partnership with the local gover nment. Although challenges exist, Sujay and the team are not deter red. Although Me ghalaya

has low inter net connectivity, inter mittent or little access to grid electricity and little to no accessible health care in the area, they believe they will be able to bring health care through their innovative model, WHIMS technolog y, partnerships and in identifying and training local, existing healthcare workers such as Accredited Social Health Activists (ASHAs) who currently work in the region. With rural communities connected by simple dusty and bumpy roads, iKure’s vision is bold. But with rural communities in desperate need for health services, Sujay and his team see the roads as surmountable obstacles, waiting to be paved to accessible, affordable health care. iKure is one of 20 innovative social organizations that has been short listed as finalists for the 2014 India Development Marketplace, all of whom have proposed incredible projects that truly help the poorest populations in India. Winning organizations have not been selected yet, and an announcement of those selected will be made soon. In spite of which organization is selected, the DM Team wanted to make sure that these innovative stories were

told. Carolyn Marie Florey is the Operations Officer for Innovation Labs and the Development Marketplace at the World Bank Insitute. In addition to telling the amazing stories of social entrepreneurs, she also blogs about Information and Communications Technology (ICT).



– Yes, ACTION speaks louder than words !

Printed and Published by Daily Telegraph Publishing Company Ltd: Head Office: No. 1A, Ajumobi Street, Off ACME Road, Agidingbi, Ikeja-Lagos. Tel: +234 1-2219496, 2219498. Abuja Office: Orji Kalu House, Plot 322, by Banex Junction, Mabushi, Federal Capital Territory, Abuja. Advert Hotline: 01-8541248, Email: Website: ISSN 2354-4317 Editor: YEMI AJAYI.

Binder1 may 12, 2014  

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