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Monday, July 21, 2014 Vol. 1 No. 153

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Nigeria’s most authoritative newspaper in politics and business

B’Haram: Opposition mounts against Jonathan’s $1bn loan bid Philip Nyam, Johnchuks Onuanyim, and Yekeen Nurudeen Abuja

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ttempts by President Goodluck Jonathan to source $1 billion loan

to retool the armed forces and enhance their capability to face modern security challenges, especially routing the Boko Haram militants, came under more attacks at the weekend.

The All Progressives

Congress (APC) kicked against the proposal and urged the National Assembly to reject it.

Also, members of the opposition parties in the House of Representatives faulted the request and

called on their colleagues not to approve the president’s request.

The president, in a letter to the two chambers of the National Assembly last week, had sought their approval to source $1

billion to enable the Federal Government frontally tackle the Boko Haram insurgency.

The loan, according to him, will enable the Federal Government to upgrade military equipment, train

personnel and provide logistics that will enhance the anti-terror war.

But the APC in a statement by its National Publicity Secretary, Alhaji Lai Mohammed, cautioned CONTINUED ON PAGE 4

North lobbies N’Assembly to scuttle confab report

Onwuka Nzeshi ABUJA

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orthern delegates to the National Conference have formed a pressure group to lobby the National Assembly to disregard the report of the conference whenever it is presented to the parliament.

The aggrieved delegates, New Telegraph learnt at the weekend, were not happy that they were unable to frustrate efforts by the conference to alter the status quo, especially as it affected resource control and the structure of governance.

The National Conference had last Monday adjourned plenary amidst protests over some of its decisions, particularly those relating to derivation formula and other aspects of revenue allocation.

The conference, despite strident opposition from the North, based on the recommendation of an ad hoc committee, Consensus CONTINUED ON PAGE 4

L-R: Chief Executive Officer, Nelson Mandela Institution (NMI), Mr. Bonaventure Mbida-Essama; Chairperson, NMI, Dr. Ngozi Okonjo-Iweala and Vice-President, Huawei Technologies West Africa, Mr. Cao Aijun, at the 2014 Nelson Mandela International Day in Abuja…at the weekend

Presidency targets APC leaders over Nyako

NLC accuses governors of promoting lPDP: Count Jonathan out of bid to oust opposition governors impunity }49 lWhy it will be difficult to unseat Amaechi, by party Lagos

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Onyekachi Eze, Onyekachi Eze and Anule Emmanuel Abuja

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few national leaders of the All Progressives Congress risk arrest and prosecution for the roles they played to save

former Adamawa State Governor, Alhaji Murtala Nyako, from impeachment.

New Telegraph learnt at weekend that security

agents on the directive of the presidency would soon be asked to go after the APC leaders if they continue accusing President Goodluck Jonathan

of being behind Nyako’s travails.

However, the Peoples Democratic Party (PDP) defended the president against allegation of spon-

soring the impeachment of Nyako and accused APC of levelling baseless allegations against Jonathan.

A senior government official told some journalists in Abuja that security agencies and the governCONTINUED ON PAGE 6

Widow wins $23.6bn in smoking lawsuit

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North lobbies N’Assembly to kill confab report CONTINUED FROM PAGE 1

Committee on resource control and derivation principle, set up to forge consensus on the report of the Committee on Devolution of Power, had adopted the proposal raising the derivation formula from the extant 13 per cent to a minimum of 18 per cent.

Before this time, the conference had taken some other crucial decisions that could bring about fundamental restructuring of the polity.

The conference is expected to reconvene on August 4 when its final report will be presented to the delegates for ratification and submission to President Goodluck Jonathan for onward transmission to the National Assembly for approval.

But even before the conclusion of the process, it was learnt that some Northern delegates met at the weekend in Abuja where they resolved to woo federal lawmakers and ensure that they would not approve the report.

New Telegraph gathered that the meeting of the lobby group was convened by a former federal legislator from Kwara State, who is also a delegate to the conference, Senator Khairat Gwadabe.

A source said the group

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had vowed to enlist the support the Northern caucuses in the two chambers of the National Assembly to kill the conference report.

Part of the agenda, the source added, was to use the current long vacation of the parliament to reach out to the legislators in anticipation of the final report of the conference.

Efforts to get Gwadabe to react to the report were not successful as she could not be reached on her mobile telephone line.

However, a member of

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of the status quo while their counterparts from the South constantly demanded changes in the political and economic structures of the country.

Among the contentious issues where the North and South disagreed were the decisions to make the states the sole federating units and the removal of the local government councils as a tier of government; the decision to decentralise the police force by allowing states to establish their own police force, if they so desire.

Others included the resolution to create additional 18 states to bring the total number of states in the country to 54.

In addition, they also disagreed on the need to make each state have its own constitution, as it was during the First Republic when each region had its own constitution.

In one of the tensionsoaked sessions, the North and the South bickered over the clamour for a new constitution; the modalities for the presentaCONTINUED ON PAGE 7

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

Anambra State Governor, Willie Obiano (left) and National Chairman, All Progressives Grand Alliance (APGA), Chief Victor Umeh, during Umeh’s birthday at the Governor’s Lodge, Awka...at the weekend

B’Haram: Opposition mounts against Jonathan’s $1bn loan bid CONTINUED FROM PAGE 1

PORT HARCOURT

the House of Representatives who did not want his identity revealed, confided in New Telegraph that such a lobby would fail because many lawmakers were aware that the present political structure was unwieldy and needed alteration for the country to develop.

The National Conference was for most of its four month sitting polarised along regional, ethnic and religious lines.

During debates, delegates from the North pushed for maintenance

FLIGHT SCHEDULE

the National Assembly against acceding to the president’s request.

According to the party, money is not the problem to prosecute war against the insurgents or rescue the abducted schoolgirls, but incompetence.

It said trillions of naira had been pumped into security in the last few years and the result was not in tandem with the huge funds allocated to the sector.

The party charged National Assembly members to jettison consideration of party affiliation and scrutinise the request for the loan on merit and they would find out there was no need for it.

APC also dismissed the reasons adduced by the presidency for the loan, describing them as disingenuous and sheer blackmail.

It said: ‘’That argument is hollow. In the first instance, trillions of naira have been allocated yearly

- in the past few years for security and defence, yet the fight against the insurgents rages on with deadly consequences. Secondly, the only reason the schoolgirls have remained in captivity is the sheer cluelessness and incompetence on the part of the Jonathan administration, which waited for all of 19 days before even admitting that the girls were kidnapped in the first instance. ‘’Therefore, putting more money in the hands of an incompetent and massively corrupt administration can only encourage more incompetence and corruption. That is why we are asking the National Assembly to put national interest above all other considerations by taking a dispassionate, non-partisan look at the president’s request. ‘’What we are saying in essence is that the National Assembly must summon security and military chiefs to explain how

the huge funds allocated to security sector in the past has been spent, before more funds can be pumped into the sector. They must be asked what happened to the military equipment said to have been procured in recent years. ‘’They must also inquire from the administration why it should be borrowing $1 billion when it has yet to account for the missing $20 billion oil money, plug the daily stealing of 300,000 barrels per day (bpd)and unravel the massive frauds that have hallmarked the tenure of this administration (pension fraud, oil subsidy scam, Malabu fraud etc).

“If after all the scrutiny, the National Assembly still feels it must approve the loan, so be it, but it (National Assembly) must know that its own integrity and credibility are on the line.”

Further justifying its opposition to approving the loan, APC said when Nigeria fought the civil

war; the federal military government did so without resorting to any external borrowing, due to competent and transparent management of the nation’s economy. ‘’On the contrary, trillions of naira have been pumped into the Boko Haram war in the past five years, and Nigerians still do not have any indication of how soon the insurgency will end or what happened to the huge allocated funds. Instead, what the taxpayers are being asked to do is to shell out more funds to finance the incompetence and corruption of a reckless administration, whose officials fly around the world in jets that burn billions of naira but cannot allow them to be probed by the National Assembly,’’ it added.

The party said in the light of the president’s justification for the loan, it wondered why the attack on Borno State Governor, Alhaji Kashim Shettima, CONTINUED ON PAGE 6

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

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Widow wins $23.6bn in smoking lawsuit

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jury in Florida, the United States, has awarded a widow $23.6 billion in punitive damages in her lawsuit against tobacco giant R.J. Reynolds Tobacco Company.

According to a report yesterday by CNN, the widow, Cynthia Robinson, claimed that smoking killed her husband, Michael Johnson, in 1996.

She argued that R.J. Reynolds was negligent in not informing him that nicotine is addictive and

smoking can cause lung cancer.

The late Johnson started smoking when he was 13 and died of lung cancer at 36.

The jury award Friday evening is “courageous,” said Robinson’s lawyer, Christopher Chestnut.

“If anyone saw the documents that this jury saw, I believe that person would have awarded a similar or greater verdict amount,” he said.

The Escambia County

trial took four weeks and the jury deliberated for 15 hours, according to the Pensacola News Journal.

The verdict included more than $16 million in compensatory damages, the newspaper said.

Chestnut said five of the six jurors who heard the case were 45 or younger, which meant he had to show them how the tobacco industry presented its product before the public awareness campaigns on tobacco risks and dangers

in the 1990s, he said.

In a statement, VicePresident and Assistant General Counsel for R. J. Reynolds, J. Jeffery Raborn, said: “The damages awarded in this case are grossly excessive and impermissible under state and constitutional law.

“This verdict goes far beyond the realm of reasonableness and fairness and is completely inconsistent with the evidence presented. We plan to file post-trial motions with the

L-R: Area Director, Corporate and Regulatory Affairs, British American Tobacco (BAT) West Africa, Mr Freddy Messanvi; Chairman, Committee on Social Justice, House of Representatives, Ali Ahmad and representative, Intellectual Property Lawyers Association of Nigeria (IPLAN), Mr. Femi Fadoju, at a public hearing on Tobacco Control Bill in Abuja

Why it will be difficult to unseat Amaechi, by party CONTINUED FROM PAGE 1

ment had information about the crimes perpetrated by the leaders.

He said intelligence report showed that two APC governors, one from the North and the other from the South, approached some members of the Adamawa State House Assembly and offered N250 million each for them to scuttle the moves to remove the governor.

He explained that of the 25 state lawmakers, five were with Nyako while two travelled at the time the impeachment process was ongoing.

According to him, the APC governors succeeded in buying one lawmaker over, while attempts were made to buy one or two more so that the Assembly would not be able to muster the constitutional required two thirds of lawmakers needed to unseat Nyako.

According to him, when it was clear to the party chiefs that they would not be able to buy the lawmakers over, they resorted to threats.

“It was the assurance that they got from the lawmaker that more members would be bought over that gave birth to the reports that time that Nyako might resign.

“When it was clear to them that the money might not do the magic, they resorted to threats.

They threatened some of the lawmakers that they would be killed if they did not collect the money and stop the impeachment process.

“What they don’t know is that all these were recorded. If they continue with these their unfounded allegations against the president, the security agencies would be directed to arrest them and confront them with overwhelming evidence,” he added.

Shortly after the removal of Nyako, the APC had accused the president of bribing each lawmaker with $300,000 to do so.

It also added that the presidency had offered N75 million to each lawmaker to see through the ongoing bid to unseat Na-

sarawa State Governor, Alhaji Umaru Al-Makura and another N700 million for the removal of his Edo State counterpart, Mr. Adams Oshiomhole.

But the PDP, while defending Jonathan against the allegations, described the claim linking it and the president to the removal of Nyako as escapist and without substance.

The party in a statement yesterday by its National Publicity Secretary, Olisa Metuh, said Nyako’s impeachment was an act of democracy.

“It is a constitutional right granted exclusively to the people of Adamawa State and no other. This, they exercised through the votes of the overwhelming majority of the elected members of the State House of Assembly who also accorded rule of law and due process the rightful place in removing Nyako.

“It is really an irony but what does one expect from the APC that is undergoing febrile seizure over the furious collapse of its imagined dominance of

Nigeria’s political space?

It is not surprising that the drowning, who is striving to clutch on any available straws, would turn the PDP into a scapegoat,” it stated.

The party described as unfortunate that APC which claimed to champion the rights of the people to choice of leadership was the same party turning against the constitutionally-guaranteed right of the people to withdraw legitimacy through impeachment and recall and advised the party to look inwards in finding answers to its woes and leave the PDP out of it.

According to the party, those having sleepless nights over the impeachment were not indigenes of Adamawa State but people who want to cry more than the bereaved.

Also, Special Adviser (Political Matters) to the president, Prof. Rufai Ahmed Alkali, has described as absurd, the position by the APC and former Lagos State Governor, Senator Bola Tinubu, on CONTINUED ON PAGE 7

trial court promptly and are confident that the court will follow the law and not allow this runaway verdict to stand.”

Robinson’s case was once part of a class-action lawsuit in which a jury had awarded $145 billion

in damages, but in 2006, the Florida Supreme Court overturned that verdict.

In its ruling, however, the state’s high court opened the door for individual lawsuits against tobacco companies.

B’Haram: Opposition mounts against Jonathan’s $1bn loan bid CONTINUED FROM PAGE 4

when he alerted Nigerians to the need to adequately equip and motivate the armed forces in uniform, when Jonathan had now admitted that the military needs modern hardware to fight the insurgency.

The party added that it supported the call on the National Assembly not to give a blank cheque to the Jonathan administration due to its inability to account for past budgetary allocations for the security and defence. ‘’This year alone, 20 per cent of the total national budget of N4.962 trillion, which is about N968.127 billion, was allocated to defence. How much of that money has been released so far and how has the funds been spent? What about the equally huge allocations in the previous years?

“With the Jonathan administration allegedly spending or setting aside an average of N2 billion to impeach each governor of APC states, and the PDP-led administration using the commonwealth to bribe voters in a desperate bid to win elections at all costs, approving the $1 billion loan may amount to giving more ammunition to the administration to stifle the nation’s democracy or even threaten the very existence of the country,’’ it said.

Opposition lawmakers also argued in the same vein in their advocacy that their colleagues should reject the president’s loan request.

House of Representatives Minority Leader, Femi Gbajabiamila, said in a statement by his media aide, Wasiu OlanrewajuSmart, that there was no need to do so as the president had not achieved much result with the huge funds allocated to defence in the last few years.

According to him, “the request for $1 billion loan by the president after N3 trillion allocated to defence in three years with nothing to show for it is evident that the president and his advisers regard Nigerians as imbeciles (which they

are not).”

He urged his colleagues to restrain themselves from granting the “perfidious request” and implored the Federal Government to try exchanging oil for military hardware like other needy countries have done in the past if truly Nigeria has weak military equipment, considering the country’s previous budgets for defence.

He also advised the Federal Government to explore trade-by-barter option in its effort to step up military hardware and train military personnel instead of piling up debts for the country.

Gbajabiamila expressed dismay at President Jonathan’s penchant for loans when the country has Sovereign Wealth Fund, reserve and excess oil revenue.

“The Federal Government by setting an illegal benchmark has been creaming off about $30 per barrel of our crude oil sales, which it puts in an illegal Excess Crude Account. If it insists on cash, it should reach into that illegal account. Again it also set up the Sovereign Wealth Fund, a component of which it described as future generation account.

“Well Madam Minister (a reference to Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi OkonjoIweala), the Chibok girls represent the future generation, go into that account if you must. Assuming the National Assembly will allow that. But to incur a further $1 billion loan at whatever interest rate, that is one loan too many for our future generation to pay off and the answer is a CAPITAL NO!!!”

The minority leader also cautioned foreign donors from colluding with the executive arm of government in encouraging corruption, adding: “Anyone who accedes to this request and any foreign country that actually gives such a loan in my opinion will be guilty of aiding and abetting corruption. An accessory before and after the fact.”

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NHRC asks court to set aside order on Apo killings

Tunde Oyesina ABUJA

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he National Human Rights Commission (NHRC) and the Chairman of its Governing Council, Dr Chidi Odinkalu, have asked a Federal High Court, sitting in Abuja, to set aside its order stopping the execution of the commission’s decision on the killings of eight squatters at the National Assembly quarters in Apo. The commission in an application filed by its counsel, Tayo Oyetibo (SAN), asked the court to also set aside the originating motion filed by the State Security Service (SSS) seeking to quash the commission’s decision

which found the SSS culpable in extra-judicial killing of the squatters.

Oyetibo submitted that SSS failed to give the commission the notice prescribed by section 18(3) and (4) of the NHRC (Amendment) Act, 2010 before instituting the suit.

The section requires anyone suing the commission to give it a written notice of its intention to go to court.

The commission in its decision had held that SSS failed to establish the allegation that the squatters were members of the Boko Haram.

The security agencies had claimed that the squatters were members of the Boko Haram sect but the

commission held that the killing was not justified in the circumstances.

Based on its findings, the commission awarded damages against the SSS and the Nigerian Army whose men also took part in the extra-judicial killings.

In line with its enabling statute, the commission applied to the court via an ex parte application to register the decision to make it enforceable like a judgment of the high court.

Although, the application was made without notice to the other parties, the presiding judge, Justice Gabriel Kolawole, refused it and instead ordered that the SSS and other parties be put on notice.

However, without hearing the commission, Justice Kolawole in a suit filed by the SSS, stopped the execution of the commission’s decision.

He also gave leave to the SSS to commence proceeding for judicial review to quash the report of the commission.

While granting the leave, the judge ordered a stay of execution of the 83page report which indicted the Nigerian Army and the SSS for the murder of the squatters on September 20, 2013.

In its original report, the commission said the security agencies had “no credible evidence” to tag the eight youngsters killed as agents of Boko Haram

terror group.

The commission also queried while other squatters found in the same building were not interro-

gated but sent out of Abuja with an instruction not to return to the city if truly they were members of the sect.

Wale Adenuga, Zeb Ejiro’s firms, 30 others to access N3bn Nollywood grant Abdulwahab Isa Abuja

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hirty two movie production companies, whose applications have been duly assessed are set to access part of N3 billion Presidential Intervention Fund for the Nigerian movie industry, tagged Project ACT Nollywood.

Among the 32 successful production companies are: Minek Entertainment and Films Limited, Denziot Integrated and Logistics Ltd , Alternativ Cinema ; Zealview Nigeria Limited and Greenville Production International Ltd. Others are: Akins Squared Limited (Akins Squared Productions) , November Productions , Ruby Diamond Nigeria Limited , Green Waters Production and Viseoson-

ic Studios Limited.

A statement yesterday

by Special Adviser(Media) to Coordinating Minister for the Economy and Minister of Finance, Mr. Paul Nwabiuku, said with the latest list, the number of practitioners who had received grants under the capacity building fund, the second component whose implementation started earlier, had climbed to 67.

Providing further insight on mode of selection, it said the 32 film projects were selected out of the 38 that applied for the funds during the first batch of interviews concluded last week.

About 253 applications were received from film production companies during the application period - November 11, 2013 to February 28, 2014, the statement added.

Why it will be difficult to unseat Amaechi, by party CONTINUED FROM PAGE 6

L-R: Deputy President, Finance, National Association of Small and Medium Enterprises (NASME), Mrs. Okereke Lizzy; Executive Director, Bank of Industry (BOI), Mr Waheed Olagunju and Managing Director, BOI, Mr Rasheed Olaoluwa, during the a courtesy visit by NAME to BOI in Lagos…at the weekend

North lobbies N’Assembly to kill confab report CONTINUED FROM PAGE 4

tion of its final report; the subjection of conference decisions to a referendum and on the controversial proposal to expunge the Land Use Act from the 1999 Constitution.

Many delegates from the South also canvassed for a common position to draft a new constitution that will replace the existing one whose legitimacy they queried.

But their counterparts from the North argued there was no need for a new constitution, adding that the conference had no powers to write a new constitution because they were not elected and were not operating as a constituent assembly.

There were also some disagreements on the modalities for presenting the final report of the conference.

While some delegates

wanted the report to be sent to the president for onward transmission to the National Assembly, others warned that it would be dangerous to do so as the parliament was already biased against the conference.

Former Secretary to the Government of the Federation (SGF) and a delegate to the conference, Chief Olu Falae, captured the gains of the conference thus: “In terms of substance, if you look at what the conference has recommended, as a package, they are beginning to make our states look like federating units. Hitherto, the states, in my view, were administrative units set up by the military.

“But now based on our recommendations, each state will have its own constitution. If you were here during the First Republic, every region had

its own constitution in which they included the powers devolved to them from the centre. So for the first time since the advent of military intervention in the governance of Nigeria, the states will have their own constitution.

That means they are now proper governments.

“Secondly, each state will have its own police force with which to enforce its own enactments. That is the meaning of a government- a body that can legitimately make laws and enforce them by their own authority through a police force. Thirdly, in a federation, the federating units control their own local governments.

Hitherto, they were the third tier controlled from Abuja, now they are the property of the federating units. Fourthly, we now have Courts of Appeal at the state level which will

be the final court for the states except in cases like murder and capital punishment. But for most cases, they will end at the state Courts of Appeal so you don’t have to go from Calabar to Abuja or from Akure to Abuja in search of justice.

“So these are some of the decisions that have emerged from this conference and which are very fundamental to the development of our nation. So, in terms of substance, this conference has done well.”

According to Falae, these crucial decisions would enable Nigeria to make a fresh beginning.

Even before the conference adjourned, the Northern Delegates Forum (NDF) had through threats and subtle blackmail attempted to halt the adoption of some of these decisions by the conference.

the impeachment Nyako.

Alkali, yesterday, advised APC leaders to learn to accept the principle of popular democracy that the electorate have right to choose who should lead them.

He described as unfortunate, the allegations by Tinubu, that Jonathan engineered the impeachment of the former governor despite public pronouncement by Nyako to the contrary.

He said it was pathetic that Tinubu, who contributed immensely to the struggle for return to democracy, should join those engaged in acts that could truncate the idea he fought for.

Meanwhile, the Rivers State chapter of APC has said efforts by the PDP to impeach the Governor, Mr. Chibuike Amaechi, will fail because the governor understands the politics of such moves based on his experience as speaker of the state House of Assembly for eight years.

The party also said God was behind the governor, as well as the people, who have immensely enjoyed the dividends of democracy.

Besides, it added that

Amaechi’s achievements in office would make it difficult for any impeachment move against him to succeed.

The APC, in a statement by the media aid to the state chairman, Eze Chukwuemeka Eze, explained that Amaechi and the lawmakers “have … come a long way and share the same political fate.”

The party said the recent impeachment of Nyako could not happen in Rivers because only the six lawmakers supporting the Minister of State for Education, Nyesom Wike, were making efforts to unseat Amaechi and they lacked the power to embark on any impeachment procedure against him.

Corrigendum The article titled: National confab and ‘feeding bottle federalism’ published on Page 20 of Thursday, July 17, 2014 edition of the New Telegraph was written by Special Adviser (Media) to Deputy of the Senate, Uche Anichukwu and not his principal, Senator Ike Ekweremadu, as wrongly credited.

The error is regretted.

–Editor

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NjikoIgbo Canada condoles with MH17 victims’ families

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he president of NjikoIgbo, Canada, Engr.

Clement Ezegbe on Friday sent condolences to Malaysia and the Netherlands over the loss of lives in the downed Malaysia Airlines flight MH17.

In a message of condolences to Malaysian Supreme Head of State, Abdul Halim Mu'adzam Shah, Engr. Clement Ezegbe said he was shocked after learning about the crash.

"On behalf of the Njiko

Igbo Canada and people, I express deep sympathy to your country over the unfortunate event and convey profound condolences to all the deceased including those from your country on board," Engr. Clement said.

In another message, Engr. Clement told Dutch King Willem-Alexander he was shocked to learn about the crash which killed a large number of Dutch passengers.

"We empathize with the Dutch government

Zonal Business Manager, West, Airtel Nigeria, Mr. Ekundayo Fatoki (left), presenting a cheque of N500,000 to the parents of Master Kehinde Yusuf, (Mr. and Mrs. Isiaka Yusuf), who needs urgent surgery, at Airtel Nigeria's West Zonal Office, Ibadan…at the weekend

Achebe family mourns Nadine Gordimer Ramadan: Youth leader sues for peace Tony Okuyeme The family of the late literary icon Prof. Chinua Achebe has expressed shock and grief at the death of South African writer, political activist and recipient of the 1991 Nobel Prize in Literature Nadine Gordimer who passed on July 13, 2014, aged 90.

They described her as a precious friend, great supporter of African arts and letters, and one of the continent’s truly important writers and treasured spokespersons.

In a statement signed

by Professor Christie Chinwe Achebe for the Chinua Achebe Family and Estate, and made available to the New Telegraph, the family stated: “The Achebe family joins the world in mourning the passing of Nadine Gordimer.

Precious friend, great supporter of African arts and letters, an elegant soul; we have lost one of Africa's truly important writers and treasured spokespersons. Nadine will be missed, though we can rejoice that her tough, fighting spirit is at peace.

Hassan Jirgi, Damaturu Coordinator of President Goodluck Jonathan for 2015 agenda in the North-East, and Youth Leader of the People Democratic Party (PDP) in Yobe State, Alhaji Ado Adamu, has called on Muslims in the country to embrace peace in the interest of the all.

He called on Muslims to use the month of Ramadan to pray fervently for peace and tranquility in the nation, nothing that only a peaceful

Dominic Adewole, Asaba The All Progressives Congress (APC) has accused the Peoples Democratic Party (PDP) of financing disunity in its chapter in Delta State.

The party said its congress in the oil rich state has been enmeshed in factional crisis, resulting in the setting up of two party secretariats in Asaba, the state capital.

Although, the national body of the party

has since confirmed the Prophet Jones Ode-Erue executive, the faction of Chief Isaac Tobore Ajueshi, has remained with his secretariat still functioning.

Reacting to the development at the weekend, Isaac Adaka Adakpo, the Publicity Secretary to Prophet Erue, described the splinter secretariat within the state capital as the “Baraje group.”

tang North Local Government Council, Hon. Godwin Nanmwa Kumzhi, has condemned the recent assassination attempt on Lt.-General Jeremiah Useni (rtd.), who was a former FCT Minister, by gunmen.

Kumzhi, who stated this while speaking to newsmen in Jos, said such act was capable of plunging the local government into crisis.

atmosphere could engender development.

Adamu gave the advice while speaking with newsmen shortly after he distributed bags of rice to members of the state correspondent chapel, at the weekend.

The youth leader enjoined all Muslim ummah to seize the opportunity of this month of prayers, to pray to God about Nigeria, saying that he was sure that God would answer such prayers.

Council boss laments assassination APC raises the alarm over factional attempt on former FCT minister Buhari Bello, Jos He dissociated the PDP secretariat in Delta The Chairman of Lang- from the recent attack,

Evangelist loses wife, preaches sermon of the day Joe Obende, Warri The General Overseer of God’s Ministry International Church, New Ogbe-Ijoh in Warri South-West Local Government, Evangelist Samson Mamamu, was yesterday on the pulpit preaching even as news filtered in that his wife

of many years, Madam Okoloba-Ere, has passed on.

Madam Mamamu died on Saturday, when all was set for the thanksgiving service for the passage rites of the late AmaaPere Amakosu of OgbeIjoh, Warri Kingdom, in her husband’s church.

describing it as undemocratic and uncivilized, stressing the commitment of the local government to the pursuance of justice, peace and equity for all.

The council boss, who has just been sworn-in, called on all Tarok sons and daughters as well as other aggrieved members of the party to close ranks, stressing his commitment to an open door policy.

Divine favour needed to achieve life's goals Elijah Samuel A call has been made to everyone who desires progression in life to be close to God so that the divine favour of God can be accessed.

The call was made by Pastor Akinola Akinleye, during the inauguration of a new parish in Area 007, Lagos Province 5 of The Redeemed Christian Church of God. While giving his exhor-

tation, during the inauguration programme titled: ‘Divine Favour,’ Akinleye said it is God’s favour that everyone needs to achieve life’s set goals.

He said: “We need favour in times like this, which is very trying.”

Citing Joseph’s experience in Genesis 39:1, 21 and 41:40, he said Christians in the 21st century are like Joseph, who had dreams.

and people. I, myself, and on behalf of Njiko Igbo Canada and people, express deep sympathy to you and convey profound condolences to the deceased from your country," said Clement.

The Boeing 777-200, en route from Amsterdam to KualaLumpur, went down Thursday in eastern Ukraine, killing all the 298 passengers and crew members aboard, according to Malaysia Airlines.

LG funds: Chairman says diversion reason for unrest The caretaker committee of Obio/Akpor Local Government Area, Dr. Lawrence Chuku has alleged that the diversion of funds meant for the development was contributory to the unrest in some communities within the council.

Chuku, who stated this shortly after a meeting with traditional rulers and other stakeholders in the council, said the corrupt tendency of some traditional rulers were creating unnecessary problems, stressing that they were supposed to use their positions to promote peace and development in their domains.

While warning against corrupt tendencies, he

noted that some individuals were trying desperately to carve out more communities from the existing ones in order to lay claims to development funds they intend to divert to personal use.

He particularly mentioned Mgbesilalu as a community where some persons were parading themselves as traditional rulers, and said such move was unacceptable because it could lead to crisis.

“God has finished his creation, and our community is already formed.

What we need now is growth and development, and not the balkanization of the community,” he said.

Traders decry extortion by security agencies on Lagos highway Tony Okafor, Awka The President-General of Amalgamated Market Traders Association of Anambra State (AMATAS), Mr. Okwudili Ezenwankwo has decried the incessant extortion of traders conveying goods on the Lagos Highway down to east by some security agencies, appealing to the Federal Government to intervene to arrest the situation.

Ezenwankwo made the appeal yesterday in an interview with newsmen after the election of the executive of EkeAwka market chapter of AMATAS. The president-general

alleged that the extortion usually carried out by men of the police force and customs officials is adversely affecting commercial transactions and pricing.

“Extortion of traders mostly on high ways by the security officials is one of the daunting challenges legitimate traders are facing in the course of doing business.

“It takes a hell to bring down our goods from Lagos or Onne Sea Port to the South-East.

“Some of us who bring goods from outside the country are not disturbed the way Nigeria security officials treat traders on the roads,” he said.

Edo flood disaster victims get relief Cajetan Mmuta BENIN

Victims of the last Sunday’s flooding’s that hit communities in Igarra, headquarters of Akoko-Edo local government area of Edo state can now have sense of relief.

The federal government weekend promised financial assistance to families of victims who lost their lives and property worth several millions of naira in the wake of the week long disaster.

An Assistant zonal coordinator, (South-South) of National Emergency Management Agency (NEMA, Mr. Godwin Tepikor conveyed the promise when he embarked on the spot assessment of the areas affected by the flood.

Tepikor who was accompanied by the senator representing Edo North senatorial district, Senator Domingo Obende and the members representating Akoko Edo federal constituency in the House of Represenatives Hon. Peter Akpatason assured the victims of government urgent intervention to cushion the effect of the flood.

He said: “It is a natural disaster and when you say natural disaster it is not within the control of human being. It has happened and that is why we are here as an intervention agencies to see for ourselves and do an on spot assessment and report back to the government”.

NEW TELEGRAPH

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9

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ABIODUN BELLO FEATURES Editor

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MONday,JULY 21, 2014

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Suspect: Ban on commercial motorcycles is good Taiwo Jimoh

O

ne of the gains of the ban on commercial motorcycles by the Lagos State Government is the reduction in crime.

This is the confession of an armed robbery suspect, who specialised in using motorcycle to rob the residents of Abule Egba, Iyana-Ipaja and Agege areas of the Lagos metropolis.

The suspect, Musa Kolapo, described as notorious, is now in the custody of the state Special AntiKolapo Robbery Squad (SARS).

Kolapo, a native of Abeokuta, a trap for us. Before we knew it, we heard told our correspondent that the gunshots from the police. We returned the ban had a maximum impact on the operations of robbers using motorcycles.

The primary school dropped out said when he could not further his education, owing to the Juliana Francis inability of his parents to fund it, he went to learn mechanical work.

35-five-year-old barber, Okewu Olayinka, He said: “After a while, when said the glitz and glamour of the underthings were not going on well for world, painted by one of his friends, me as a mechanic apprentice, I made him to embrace robbery. took to riding motorcycle which But his sojourn was a disappointment.

I got on instalment through a Olayinka had gone for two car-snatching opfriend. erations, where he and his gang members “Before I was arrested, I used wielded guns as if they were re-enacting the to pick my passengers from Sango civil war. Yet, for all his pains and success en-route to Agege and Iyana-Ipaja in making away with two cars, he did not and Abule-Egba. I had been in the receive a dime.

Olayinka was arrested before he got his work for almost a year before I was arrested. share. He is now in the custody of the Special “I was introduced to Okada rob- Anti-Robbery Squad (SARS), Lagos. bery by a friend when I told him He said: “It was greed that led me into this. the little money I was making I was not satisfied with what God gave me. I from riding motorcycle. He then decided to join car-snatching gang because of advised me to use Okada riding the way my friend, Sodiq, painted the world as cover while we rob. He said my of crime. The way they spent money and Okada would be one of the tools to lived their lives attracted me and I wanted to be like them. Today, I’m blaming myself enhance our operation.”

Kolapo said he was arrested for my predicament. alongside his friend at Abule-Egba “I know that if Sodiq is caught, my during one of their operations in problem will lessen. We went to his house, the area. but we didn’t see him. He knew I had been He said: “Our mode of opera- caught. My wife didn’t know that I had been tion was to dispossess people of arrested for robbery. My wife is even pregtheir belongings at gunpoint. nant. I know that any moment from now, “On that fateful day, when we she would deliver a baby. I wish I could be sighted our victim, my partner there for her.”

Olayinka, who got married in June 2013, pointed his gun at the woman and collected her belongings. We said that in his first operation, he and his accosted the woman and asked her gang snatched a Honda ‘Halla’ car at Agidto cooperate with us. We took the ingbi, Ikeja, Lagos.

They also snatched a Toyota Highlander woman’s phones and other valuat Ojodu Berger in his second operation. ables and ordered her to run.

“Unfortunately for us, we did “We were supposed to snatch a Honda not know that the police had set Pilot jeep before we were arrested,” he said.

fire in order to escape. We immediately jumped on our motorcycles and fled.

“But the man riding the motorcycle looked back to see if the police were closer to us, in the process, both us fell down. The police arrested us with Okada, while others ran away.”

Kolapo also commended the state government for banning Okada, which he said would soon eradicate robbery on motorcycles.

He said: “The ban on Okada will soon phase out robbery with motorcycles in the Lagos metropolis.

“Lagos State Government knew quite well that people like me and other bad elements were using Okada to rob in the metropolis.

“Like I said earlier, it makes our operation easy, because rarely will any-

one with vehicle arrest us. Also with it, we can manoeuvre through places that cars cannot penetrate in order to aid our escape. So, the ban on Ookada in the state is good.”

The suspect added that ignorance and lack of good education led him to armed robbery.

According to him, his parents’ financial constraint pushed to riding Okada in the first place.

He said: “I can remember vividly then when we were young, my father always told me and my siblings that though he did not have enough money, he would do everything possible to ensure we were educated. He said even he was ready to sell his property because of our education but i never took him seriously.

“My greatest regret is the shame and humiliation I brought to my parents and my lack of education.

“As you can see, I cannot communicate with you in English. Even before I was arrested, I had been regretting it, because each time I see educated people, I always envy them.”

I embraced robbery because of greed, says barber

A

Olayinka

According to him, Sodiq, a notorious armed robber, invited to join him at Ojota where they intended to snatch a car.

Sodiq told him that his job would be to drive the snatched vehicles.

He said: “We are four in the gang. That was the second time I went with them to snatch a car. Sodiq, a commercial bus driver, has been part of the robbery gang for a long time. I live at Imota area of Ikorodu. Sodiq asked me if I knew how to drive private vehicles, I said yes. He said I should come and join him at Ojota.

“It was on a Wednesday. When I got to Ojota, we slept at the garage, the four of us.

About 4am, Sodiq came to wake me up. He said that we would be going somewhere. It was that day that we snatched the Honda ‘Halla’.

“Before they woke me up, they had already got a car. It was a jeep, but it was battered and old. I didn’t know where we were going, but he told me that any car they

snatched, I should jump in and drive.”

While recalling that two members of the gang had guns, Olayinka said the Honda ‘Halla’ was about to drive into a hotel to lodge at Agidingbi area of Ikeja, when the gang blocked it. Sodiq jumped down and brandished his gun, scaring the driver out of his wit.

He said: “We used the battered black jeep to block the Honda ‘Halla’ from behind. We rushed down; Sodiq and ATM were with guns. I don’t know ATM’s real name. As we snatched the Honda ‘Halla’, we abandoned the jeep and took Ojodu Berger route.

“We were going to take the car to a buyer at Abule-Egba. They asked me if I knew the way to Abule-Egba, I said I didn’t know the way properly. When we got to Ojota, I got down for Sodiq to take over the car. It was that day that I met the first guy and so I didn’t know his name. It was only ATM and Sodiq that I know very well.”

Recollecting the second operation, Olayinka said Sodiq asked him to meet him at Ojodu Berger.

He added: “It was on a Saturday. Sodiq said we would be going to snatch a Highlander jeep. We did. It was a woman who was driving the jeep. As we snatched the car, we headed towards Ebute-Metta. They told me that they were going to collect money from a man who was travelling overseas that day. As we reached Ebute-Metta, ATM and I were asked to hang around at the bus stop.

“They said they wanted to go inside to collect information on how to collect the money, which was in foreign currency, from the man. Sodiq said that immediately we sighted the Highlander jeep, we should quickly join them. The time was about 4pm.”

10 METRO

Woman arrested for killing, removing T boy’s eyes, tongue

Monday, July 21, 2014

Bring our son’s killers to justice, family urges IG Taiwo Jimoh

Juliana Francis

A

woman, pretending to be in sane, was arrested yesterday at the Mile 2 area of Apapa, Lagos State, in possession of the body of a boy whose eyes and tongue had been removed.

A witness claimed that the woman was arrested about 30:4pm on top of the Mile 2 Bridge, inward Apapa Wharf.

How the woman was discovered was not clear, but another witness said that she was apprehended by a team of OPMENSA operatives after a passer-bye raised the alarm.

The woman was in possession of two Ghana-must-go bags. One contained rags, while the other contained the boy’s body. The boy was said to be between three and four years old.

The deceased had on a short and a polo shirt. The woman, on the other hand, was said to be putting on skirt and blouse, while the blouse was covered with dried bloodstains.

Another version of the story claimed that the woman simply identified as Florence, a mother of three, from Kwale in Delta State, was carrying the body in her back when a passerby noticed something was amidst with the child she carried and alerted the police.

An angry mob was about to lynch the woman, but for the intervention of OPMENSA. While she was being questioned by OPMENSA, the woman claimed that the dead boy was her son. When she was, however, asked to explain what

Manko, Lagos CP

happened to his eyes and tongue, she kept mute.

She said: “Nothing is wrong with me! This child is son. He is the last of my three children. I have a boy and a girl who are in the village. His name is Chidi, he is five years old, he has been very sick and has fever, he needed blood transfusion but I couldn’t afford the money for blood transfusion. He died three days ago.

“Before he died we wanted to travel back to the village. My husband stays in Port Harcourt. The paper where I wrote his number has been destroyed by rain. I don’t have any relative in Lagos.

“I was living under a staircase in one of the shops located at Alaba market. A security man allowed me and my son to sleep there at night. I didn’t steal any baby. I didn’t kill any child.

“I was carrying Chidi on my back after he died when people gathered

this morning and started beating me.

What have I done to deserve this kind of beating? If not for these policemen they would have beaten me to death.”

A witness, who identified himself as Ifeanyi, said the woman was pretending to be a madwoman, but nobody believed that.

He said: “Policemen opened the bags. They are two big Ghana-mustgo bags. One contained rags and the other contained the dead body of the boy.

“The policemen didn’t beat her.

They sat her down on the ground and were just questioning her. The boy had on a polo and short, which is why it was difficult to know if other parts of his organs had been removed or not.”

The state Deputy Police Public Relations Officer, Mr Lelma Kollen, said the information just filtered in and he was still trying to track the police station handling the matter, so as to get the true picture and fact of what happened.

he family of a 23-year-old barber, Oluwajuwon Olawepo, who was allegedly shot dead by some irate youths in Abule-Ado area of Lagos State last Tuesday, has called on the Inspector General of Police, Muhammed Abubakar and the state Commissioner of Police, Umar Manko, to ensure that the killers are brought to justice.

It was gathered that Olawajuwon was in front of his shop when the stray bullet from the hoodlums who were shooting sporadically at the street hit and killed him on the spot.

His elder brother, Samson Olawepo, told our correspondent that eyewitnesses informed him that the stray bullet hit his brother in the chest.

The hoodlums were allegedly led by one Chief Lateef Sadiku Olarinde.

“I was at home on July 15 when my pastor sent for me that I should see him immediately in the church. When I got there, he said someone just informed him that a fight broke out at Abule-Ado at Fine Niger Road and my brother was shot dead by the hoodlums.

“I and my pastor went to the

NSCDC inspector held for murder Emmanuel Onani

P

olice yesterday announced the arrest and detention of an Assistant Inspector of the Nigeria Security and Civil Defence Corps (NSCDC), Lasisi Kabir Iyanda, for the alleged murder of one Kamikazes Muritala.

Muritala was an Islamic Religious Knowledge teacher at Titilope Islamic Comprehensive

Abia commissioner’s suspected killers die in shoot-out with SSS, soldiers Igbeaku Orji Umuahia

M

en of the State Security Service (SSS) and soldiers yesterday shot and killed three of those suspected to be the killers of the former Abia State Commissioner for Agriculture, Ken Nwosu.

The combined team also rescued the abducted state Chairman of the National Union of Road Transport Workers (NURTW), Chief Sunny Nwakodo.

Nwakodo was kidnapped by gunmen on July 15, while driving to his Ndume country home while Nwosu

scene of the incident immediately to verify what actually happened.

On getting there, I met my brother in pool of his blood on the floor. As I was screaming, some policemen from Agboju Police Division who were there wanted to push me away. But a senior officer among them now came and told them that it seems the deceased is related to me and they now allowed me to go near the corpse.

“I begged the senior police officer to explain how he was shot. He told me that two groups of hoodlums in Abule-Ado were fighting and during exchange of gunfire a stray bullet hit him,” Samson said.

While at the scene, Samson said he called his two other brothers, Samuel and Emmanuel, to inform them about the tragic incident, adding that some policemen later came in a van and took the body away.

He said: “As I speak to you, we don’t know where the policemen took the body to. We tried to follow them but they drove us back.

“While I and my brothers were making effort to find out from the policemen about where they took our brother’s corpse to, one of them came and said the Divisional Police Officer (DPO) of the station ordered that we should be detained.

died on Wednesday at the Abia State Specialist and Diagnostic Hospital, Umuahia, from gunshot injuries.

Last week, Governor Theodore Orji, while taking delivery of security vehicles, vowed to get Nwosu’s killers.

Confirming the incident, the state Police Public Relations Officer (PPRO), Mr Geoffrey Ogbonna, said the rescue operation took place in the early hours of yesterday.

He, however, said that he had no details yet as the police were not part of the operation.

The PPRO commended sister security agencies on the rescue effort, saying it was the evidence of synergy and

collaboration among security agencies in the state.

Investigation shows that Nwakodo was rescued at Umuariaga village, Umudike in Ikwuano Local Government Area by a combined team of Department of State Security (DSS) and soldiers about 1am yesterday.

The gang is believed to be the mastermind of the shooting of the commissioner and the abduction and killing of a prominent supermarket proprietor in Umuahia last month.

The three members of the gang were said to have died during a gun duel with the security agents in their hideout, while others escaped.

High School, Ejigbo, Osun State.

The Force Public Relations Officer (FPRO), Frank Mba, an Assistant Commissioner of Police (ACP), made the disclosure in a statement.

Mba said preliminary investigation by detectives from the Osun State Police Command, Osogbo, confirmed that Muritala died from complications arising from “fatal stab wounds inflicted on his neck with a jack-knife” by the detained civil defence assistant inspector.

The fatality, the FPRO added, resulted from an argument between the late teacher and his alleged killer, close to the entrance to the school hall, where candidates were taking their National Examination Council (NECO) examination.

He said: “Follow-

ing the demise of the Islamic teacher, students of the school attempted to raze down office structures belonging to the NSCDC as well as those of other government establishments in the area, but the timely intervention of the police prevented further breakdown of law and order.

“Meanwhile, the police high command has commended the officers and men of Osun State Police Command for their timely intervention which helped to rescue the 30-year-old suspect concerned as well as other property and whittle down what otherwise might have turned to a major catastrophe.

“The apex police authority, however, enjoins citizens never to take laws into their own hands no matter the provocation, promising that justice would be served in this case.”

METRO

Monday, July 21, 2014

11

21

Female thieves hide stolen items in hijabs Group gives foodstuffs, cloths Dahiru Suleiman to Boko Haram’s victims Muhammad Kabir Dutse

O

fficials of the Nigeria Security and Civil Defence Corps (NSCDC) have arrested two women for stealing and concealing the stolen items in their hijabs.

The suspects were arrested at Dutse ultra-modern market in Jigawa State.

Both women were caught with some wrappers, shoes of different sizes, jewellery, among others, worth thousands of naira.

In a statement, the NSCDC named the women as Rabi Umar (22) of Sharada Phase 2, Kano, and Amina Aminu (25) of Ajingi Local Government Area of Kano state, while the third suspect, Hauwa Shehu (23), is still at large.

The state NSCDC Commandant, Gidado Muhammad, said the third suspect had fled to Lau in Taraba State.

He, however, promised that she would soon be arrested and brought back to Jigawa to face prosecution for the offenses she

committed.

Muhammed said that after interrogation, it was discovered that the suspects were professional commercial sex workers and lesbians leaving at Kofar Gari (Gaya) in Kano State.

According to him, they often cross to Jigawa to ply their trade.

He said that the women were still in the custody of the command pending the completion of investigation, adding that if found culpable, they would be prosecuted.

UNICEF, Benue drill 1,164 boreholes Cephas Iorhemen Makurdi

T

he United Nations International Children’s Emergency Fund (UNICEF) and the Benue State Government have drilled 1,164 boreholes to provide safe drinking water in four local governments.

UNICEF is an agency of the United Nations responsible for programmes to aid education and the health of children and mothers in Suswam developing countries of the world. the rural dwellers.

The GM disclosed that the UnitThe General Manager, Benue State Rural Water Supply and ed Kingdom (UK), through UNICEF, Sanitation Agency (BERWASSA), also contributed £29 million for all Dr James Aper, who disclosed this the FGN/DFID/UNICEF Water, in an interview in Makurdi, named Sanitation and Hygiene (WASH) the benefitting local government as and Sanitation, Hygiene and Water to Tarka, Konshisha, Oju and Og- in Nigeria (SHAWN) programmes in the state. badibo.

Aper explained that the decision According to him, the main acof the donor agency to intervene in tivities of WASH in the state include the areas of water, sanitation and to provide portable water through hygiene was as a result of the 2012 drilling boreholes selected local WHO/UNICEF Joint Monitoring governments in the state, noting Programme (JMP) report, which that the project later developed into showed that over 66 million Ni- SHAWN with UK providing £29.575 gerians lack access to safe water, million of aid (2010 - 2014) through while over 109 million lack access UNICEF for its implementation. to improved sanitation and nearly He said: “In the area of water 35 million are still defecating in the supply, over 84 motorised solar open with 84 per cent of them being schemes and 780 hand pump bore-

holes have been provided for various communities in four SHAWN local government areas of Konshisha, Oju, Ogbadibo and Tarka, while over 300 boreholes have been drilled through direct labour, with about 250 broken down hand pump boreholes rehabilitated across the state.”

According to him, SHAWN is also targeted at total elimination of open defecation practices in 1,455 rural communities in four local governments in the state.

He added: “At the end, out of the 1,455 communities targeted, 1,186 communities had variously reported an end Open Defecation (OD) with 431 verified and 755 certified as attaining Open Defecation Free (ODF).

“The strategy adopted is Community Led Total Sanitation (CLTS), where the people were triggered by skilled facilitators into a realisation of the shame and disgust associated with the practice of open defecation.

“The process also enables the community people get first-hand insight into the dangers of unhygienic practices such as the use of latrine, child care and other practices without washing their hands.”

People living with disabilities seek special people’s law’s implementation Camillus Nnaji

P

eople living with disabilities have called on the Lagos Government to implement the Special People’s Law of June 2011 to fully protect their fundamental rights.

The people, under the aegis of Centre for Citizens with Disabilities, made the call at a stakeholders’ dialogue 2014.

The group also gave out awards to those who have supported the organisation.

The people decried harsh treatment being meted out to them by the public, especially by security personnel, transporters and land-

lords.

One of them, Miss Assumpta Khalil, decried what women with disabilities usually pass through.

She said: “A lot of disabled women face brutal treatment while in relationships or marriages. Many are battered daily on least provocation, yet we have a law protecting our basic rights.”

A man, who gave his name as Obinna, recalled his ordeals in the hands of some bank officials.

He said: “Bankers do not help us at all. They will not allow us inside the banking hall, they will only tell us to bring our ATM cards, cheques or pass books and we will wait for several hours be-

fore being attended to.

“I have been a victim of theft one day. I gave a security man my ATM to withdraw N10,000 for me.

I did not see him again and I never saw my money or the ATM card.”

According to Obinna, some of the people living with disabilities face extortions by area boys who usually attack them and run away with their money.

He added: “It has happened many times. If the Special People’s Lawisenforced,weshallbehearing cases of people being arrested for treating us badly.

“Even landlords do not consider us while charging rent. We have been paying the same thing with able-bodied people.”

Kano

T

he Izala Islamic Sect has donated food items and cloths worth over N6 million to about 500 orphans, widows and victims of Boko Haram attacks in Kano.

The donation, which comes every fasting period, is aimed at making young boys and girls that have lost their parents to feel belonged in the society.

The programme, according to the state Chairman of the group, Dr Abdullah Saleh Pakistan, takes care of the widows left without anybody to give them succour.

Pakistan added that this year, the group would give out over 400 bags of rice, among other items.

He said: “In Dakata area of Nassarawa Local Government, we have one family whose father was shot dead by unknown gunmen and he left 25 of them as his kids, young girls and boys, who are not grown up to take care of themselves.”

Similarly, the group also donated items to three boys, Hamza Auwal, Salisu Auwal and Auwal Auwal, who they said their father was killed by gunmen at his working place and since then they had been left without anybody to help them.

Auwal, who is the oldest, who

Widows and orphans waiting to collect food items

Auwal, flanked by his brothers, waiting to collect foodstuff and cloths.

is about eight years’ old, said, “we thank Almighty Allah that gives the Izala sect this wisdom to give us succour to us so that we can have food on Salla day and clothing as if our father is still alive.”

Military can’t conquer Boko Haram, says cleric

Osaghae

Taiwo Jimoh

T

he military onslaught against the terror group, Boko Haram may fail woefully unless Nigeria as a nation seeks God’s intervention.

This is the prophetic saying of the Presiding Pastor of This Generation Must Shine Ministry International, Johnson Osaghae.

According to Osaghae, force alone cannot defeat Boko Haram.

The pastor spoke with our correspondent recently at the church headquarters in Lagos during the 21-day prayer and fasting of the church.

He said: “What I normally say is that you cannot use power to conquer power, neither can you

use force to conquer force. All we need is to seek God’s direction on what to do. No matter how they kill these people, another group would spring up.”

Osaghae said that after seeing that the killings by Boko Haram were becoming too much, he went to seek the face of the Lord in prayer to know the cause of the crisis.

He said: “But the Lord made me to realise that it is not just a religious fight, it is connected with the kingdom of darkness against the light.

“This is because Nigeria is a nation that is going to stand in the world before the second coming of Jesus Christ. It was said me in the prayer that Nigeria would be among the prosperous nations, that is why the issue of Boko Haram is coming at this time so as to stop the good things that are going to happen to Nigeria.

“The crisis is not because they want to fight either President Goodluck Jonathan or any religious body, but is a spiritual warfare and it has been on ground even before we were born. We are going to overcome the problem.

“The Lord has told me that Nigeria will grow economically and socially. It will also rule the world and will come out of the challenges confronting the country. It may tarry, but we will overcome the challenges.”

12 NEWS

Sanctity of Truth

Monday, July 21, 2014

Enugu-Port Harcourt rail lines ready soon ...as NRC buys five new airconditioned coaches for route TRAIN RIDE The good rail days are back, with NRC moving on Uwakwe Abugu

Enugu

T

he House of Representatives at the weekend test-ran facilities for the take-off of full operations of the Eastern passenger trains as the authorities of the Nigerian Railway Corporation (NRC) announced that the much-awaited

take-off will commence in two months time.

The corporation has also announced that it would procure five new air-conditioned coaches that would service the Enugu-Port – Port Harcourt rail service as the full Eastern service takes off.

This indication came as a delegation of House of Representatives committee on land transport led by its Deputy Chairman, Dr. Sokonte Davis, test-ran the renovated rail track in Enugu.

They were in Enugu for inspection of Eastern

Railways as part of the committee’s oversight functions. And they tookoff at the Emene level crossing in a train ride to the Bridge 15(Nyama Bridge) at Amodu, Awkunanaw located in the outskirts of Enugu metropolis.

Speaking after the inspection, Davis, said "We are here to ascertain the level of rehabilitation of tracks in the eastern district of Nigeria Railway Corporation, NRC. "Our purpose of visit is to find out if the money appropriated for railway rehabilitation is being well

utilized. It is inevitable that the NRC is resuscitated as demonstrated by the Federal Government."

The visitors’ tour guide and the Managing Director, Nigerian Railway Corporation, Mr. Adeseyi Sijuade, an engineer, stated that "train movement has resumed from Port-Harcourt through Enugu to the North.

"Most of the bridges linking the corridor have been completed. The first material train has successfully delivered her rehabilitation materials from Port-Harcourt wharf to the rehabilitation site at Kuru,

L-R: Chief celebrant, Anthony Agbazuere; Abia State Governor, Theodore Orji; his wife, Mercy and wife of the celebrant, Gloria Abazuere, during a special thanksgiving service by the family of Agbazuere at St. Andrew's Anglican Church, Isiama Afara, in Umuahia…at the weekend

Boko Haram: Intersociety petitions Pope, says 1,000 churches lost Tony Okafor

AWKA

non-governmental orASociety ganisation, International for Civil Liberties

and The Rule of Law (INTERSOCIETY) has petitioned Pope Francis, seeking his intervention in what it called the plight of Nigerian Christians, especially northern Christians, occasioned by the Boko Haram insurgency.

The group noted that no fewer than 1000 churches had been lost to the insurgents since 2009, while over 8,500 lives of innocent citizens, mostly Christians were lost in the crisis within the period under review.

It maintained that since January to June this year, which it described as the bloodiest in the country, at least 4,118, people, who were mostly Christians were killed by the insurgents.

In the petition to the papacy signed by its Board Chairman, Emeka Umeagbalasi, and made available

to newsmen during a press briefing at its corporate office in Onitsha, Anambra State, yesterday, entitled:" Consolidated letters to His Holiness on ceaseless mass killing of Christians and burning of churches in Northern Nigeria: A call for proactive lawful counter measure, the group prayed the Pope to come to the urgent aid of the Christian population in Nigeria, particularly those in Northern Nigeria, who it said "are on the verge of extermination or annihilation."

The petition was copied to President Goodluck Jonathan of Nigeria and 19 Christian and world bodies, including: the Primate of the Church of Nigeria, President Christian Association of Nigeria and Catholic Bishops Conference of Nigeria, Pentecostal Fellowship of Nigeria, United Nations High Commission for Human Rights, Chief Prosecutor for International Criminal Court, Hague, among others.

Confab: Ohaozara protests inclusion in new state lAbia Lawmaker lauds recommendation Onwuka Nzeshi and Igbeaku Orji

ABUJA/Umuahia

he provisional approval Tgranted for one additional state to the South East

geo-political zone by the National Conference may create some unforeseen reactions as the Ohaozara General Assembly in Ebonyi State at the weekend protested the inclusion of its territory in the proposed Etiti State.

But a member of the Abia State House of Assembly representing Isiala Ngwa North constituency, Martins Azubuike, has applauded the recommendation of the National Conference for additional state for the South East geo-political zone to bring it at par with other zones.

He said that a situation where other zones have six states, one with seven and the South East

having only five was the height of marginalization.

Azubuike also commended President Goodluck Jonathan’s wisdom in convoking the conference but added that removal of immunity would pose a huge distraction for the governors and the President if upheld. He maintained that Nigeria was not ripe for the removal of immunity for political office holders.

The National Conference had at one of its sessions recommended the creation of 18 additional states in the country. It was agreed that the South East should have at least one of the new states to bring it at par with the other geo-political zones. Before this resolution, different groups had canvassed for the creation of several new states in the region. These include Adada State, Etiti State, Aba State and Orashi State.

Jos and she is currently on her second trip back to Port-Harcourt from Kuru."

"The passenger train services in the Eastern district will resume in the next two months. We will take delivery of five new

air conditioned coaches for Enugu-Port-Harcourt train services.

“Funds have equally been made available for the rehabilitation of some of the existing coaches in the district,” he stated.

Zoning: Enugu bishop takes Chukwuma to task Uwakwe Abugu

Enugu

T

he Anglican Bishop of the Enugu North Diocese of the Anglican Communion, Rt. Rev. Sosthenes Ikechukwu Eze, has warned that if the nation’s political leadership did not do something to reduce the current economic and security hardships being faced by Nigerians, the next president of the country might find it hard to govern.

Reviewing the state of the nation at the weekend, Bishop Eze, declared that the lack of patriotism on the part of the nation’s present crop of leaders was the reason for the myriads of problems now threatening Nigeria’s sovereignty.

The cleric in an exclusive interview with New Telegraph, also joined in the raging controversy between the leadership of the Peoples Democratic Party (PDP) and some stakeholders in Enugu State on one side and the Anglican Archbishop of the Ecclesiastical Province of Enugu, Most Rev. Emmanuel Chukwuma, on the other side, over the zoning of the 2015 governorship seat to Nsukka zone. He was categorical in disagreeing with his brother bishop, saying the party should be left alone with its zoning arrangement to ensure equity.

According to the clergyman, unless the nation reconfigures its leadership philosophy in tune with

the genuine, true pastoral leadership mindset, there is no way this nation would experience a true national growth as obtains in countries that stand as good examples of democracy.

"You see, if we don't deal with all these leadership positions as genuine pastoral ministry, where your aim is how much succour, how much good influence you would bring to bear upon people and not how much that comes to you for enrichment, we would be deceiving ourselves to think this country would ever experience real democratic experience", he posited.

HealludedtothreeNational Assembly members from Enugu State and how they haveabandonedtheirconstituents, saying "can you tell me what they have done after all theseyearsintheirrespective positions? Look at what they achieved for their respective constituencies compared to the amount of money they take hold of, and hear they accumulate so much wealth because they don't know when they will get out of power and they want to have so much to fall back on."

He said by benefit of his pastoral foresight, if much salvage measures are not taken to loosen the current economic, security and other downturns pulling at the very vital cords of the nation's existence, whoever wins next year's presidential election may find it difficult to control Nigerians' anger.

Okorie, UPP chairman to visit Imo Steve Uzoechi

OWERRI

ational Chair man Ngressives of the United ProParty (UPP),

Chief Chekwas Okorie and national officers of the party will today arrive Owerri, the Imo State capital on a oneday working visit.

Briefing party leaders and officials in Owerri yesterday, the state Chairman of the party, Dr. John Egbuchulam, said that Okorie will be in the state to swearin the recently elected State Working Committee members of the party in Imo. According to Egbuchulam, Okorie will also use

the occasion to welcome officially to the UPP family, decampees from other political parties in the state.

According to the party chief, efforts are underway to accord the National Chairman and his team a befitting welcome to the Eastern Heartland.

Also expected to be part of activities marking the visit, is an interactive session between the National Chairman and a broad cross section of party members and supporters in an open-air event.

Accordingly, the state party chairman enjoined ward, Local Government and state leaders of the party to adequately mobilize for the august visit.

UMOETTE: ADAMAWA SHOWS PDP IS ON GROUND/ PAGE 16 | KANO: DILEMMA OF SUCCESSION / PAGE 18

POLITICS

NEW TELEGRAPH

newtelegraphonline.com/politics

AYODELE OJO

DEPUTY EDITOR, POLITICS

ayodele.ojo@newtelegraphonline.com

ayodeleojo@yahoo.com

MONDAY, JULY 21, 2014

In the wake of his moving from the All Progressives Congress (APC) to the Peoples Democratic Party (PDP) ETAGHENE EDIRIN chronicles the indicators of Ali Modu Sheriff’s decampment to his new political base.

2015: IMO PDP AND THE BATTLE WITHIN

p-14

Finally, Modu Sheriff goes ‘home’

E

ven when he was within the ranks of the main opposition party, All Progressives Congress (APC), former governor of Borno State, Senator Ali Modu Sheriff was looked upon with suspicion and wariness, because many within the party felt he was present only in body within the party, and that his spirit was always with the PDP. For this reason, he was seemingly kept at arm’s length in affairs relating to the welfare and administration of the party by other bigwigs.

Sheriff himself recently confirmed the suspicion of those who held such views when he announced his intention to decamp to the Peoples Democratic Party (PDP). He announced his entry into the PDP while addressing a crowd of supporters at the Borno Airport, pledging support for President Goodluck Jonathan if he eventually declares his interest to contest the 2015 presidential election. Sheriff is expected to officially defect to the Peoples Democratic Party (PDP) after the Ramadan.

He told journalists at his Maiduguri residence that he wanted to pull out his supporters from the APC to work for the re-election of Jonathan as his new destination is the PDP. Sheriff said: “I have come to consult with my people on our resolve to pull out of the APC and join the PDP. This is just a private visit which turned out to be some kind of rally because our supporters wanted it that way. Majority of our people are fasting and praying for peace to return to our dear state. After the Ramadan we would come back and pull our people out of the APC.” He added, that “I have taken time to study the package called APC and come to realise that it won’t work. And any serious politician who knows his onions would not want to be in a ship that is bound to crash”.

The warning signals of the likely movement of Sheriff to the PDP went up when Inuwa Bwala, a strong associate of the former governor told newsmen at a forum that Sheriff was no

13

Modu Sheriff

longer comfortable with the structure of the APC and has decided to defect to the PDP. That is even after he was earlier quoted as saying, “He has defected and he is now in the PDP.” Even though, the former governor offered no explanation as to why he decided to dump a party he helped form, watchers of the unfolded drama are of the view that it was a long time coming, given the treatment meted out to him at the party’s recently concluded national convention which took place in Abuja.

Also, some analysts note that Senator Sheriff ’s move to join the PDP was not just his recent declaration, but that it had been obvious he would leave the APC long before now. Sheriff, who had been treated with suspicion all along in the APC following

fears that he was working for President Jonathan, was not allowed to produce any national officer at the event. His associate, Alhaji Kashim Imam, who was vying for the position of national secretary, was tactically dropped, allegedly without his consent.

Former Vice-President Atiku Abubakar surprisingly announced on the podium that Imam had withdrawn for Alhaji Mainala Boni – allegedly without Imam’s consent. Imam was said to have been “shocked” and “angry”.

Sheriff expressed outrage against the convention as the party’s national leadership allegedly imposed former Edo State governor, Chief John Oyegun as national chairman of the party, while the Sherriff group had preferred former Foreign Affairs Minister, Chief Tom

Ikimi, who was schemed out of the office.

This resulted in a post-convention crisis that threatened to tear the young party apart, as Sheriff, and some other aggrieved party chieftains including Ikimi, Sam Jaja, Senator Annie Okonkwo, Alhaji Abubakar band 14 governors, billed to attend the inauguration of the new NEC did not show up for the ceremony, an indication that all may not be well with the opposition party.

Shortly after the inauguration, newsmen confronted the APC spokesman, Alhaji Lai Mohammed, asking him of the likelihood of Sheriff ’s defection from the APC to another party as a result of the crisis. Mohammed debunked stories assuring, that all is well, and that he will not decamp.

According to him, “Chief

CROSSFIRE This kangaroo impeachment is government’s way of punishing Nyako.... The PDP used the constitution to abuse the constitution and democracy. His removal is a political move to punish him and deter others from leaving the PDP -Bola Tinubu

Nyako was impeached for gross misconduct.

PDP is not vindictive; records show that even sitting PDP governors had been impeached. APC has become a party of offenders who are only in opposition to avoid punishment -Taofik Gani

Tom Ikimi and Senator Ali Modu Sheriff are committed members of our party and they cannot leave APC because of the minor disagreement as a result of the convention. They are too committed to do that and… the national chairman, Chief John Oyegun, has been meeting with all the aggrieved, and very soon, the disagreement would be over.”

He was however proved wrong a few weeks later.

On why the governors and chieftains like Sheriff and Ikimi were not present, Mohammed explained that although they were all invited “some could not be here due to state duties, some have travelled out of the country and some were engaged with other responsibilities”.

Sources however revealed that a good number of the aggrieved members where having a meeting somewhere in Asokoro, Abuja, while the inauguration was going on to strategise on how to fight back.

According to some sections within the state polity, Sheriff felt the move to the PDP had become necessary to ensure that the state no longer misses out in the good things that were to be provided to the state by the Federal Government. Sources hinted that the former senator had become disenchanted with the tag of ‘opposition state’ usually associated with Borno.

Again, Bwala told a news media that Sheriff is leaving APC because he was no longer comfortable with Borno being classified as an “opposition state” since the second republic. According to him, “Since the second republic, Borno has never aligned with the party in power. Don’t let us deceive ourselves - we are losing out on many federal goodies as a result of this opposition tag. The time has come to move. Things cannot continue like this. Borno has taken too much beating.”

Another point of disagreement that may have spurred Sheriff to abandon the APC ship was the recent meeting of the National Executive Committee (NEC) of the party which preceded the convention. The meeting almost turned violent following a threat by Sheriff to beat up Tinubu. He reportedly exploded midway into the meeting, raining abuses on Tinubu and threatening to slap the former Lagos State governor.

But for the intervention of some party leaders attending the meeting, including former Head of State, General MuhamCONTINUED ON PAGE 14

14 POLITICS The Peoples Democratic Party (PDP), no doubt has established structures in Imo State, but FELIX NWANERI reports that the party faces an uphill task in its bid regain power in the state in next year’s general election, given the looming implosion over who flies its governorship flag

Sanctity of Truth

2015: Imo PDP and the battle within

zone rejected any form of zoning for the governorship in 2015. Rising from a recent stakeholders’ meeting, chieftains of the party in the zone including Senator Uzodinma, declared “null and void,” the purported Imo Charter of Equity.

They averred in their resolution that the governorship of the state has never been zoned by the PDP, even when the party was in power and wondered how zoning should suddenly become an issue for 2015 when the PDP was contesting the election as an opposition party.

F

rench philosopher, Francois Marie Arouet may not have had Imo State in mind when he wrote in his book, Philosophical Dictionary that ‘‘the pleasure of governing must be certainly exquisite if we may judge from the vast numbers who are eager to be concerned with it,’’ but the array of personalities who have indicated interest to contest the state governorship election in 2015 on the platform of the Peoples Democratic Party (PDP) compels one to believe that Imo was his reference point.

PDP chieftains in the state, who were battered in the 2011 governorship election that nearly caused a constitutional crisis before the Independent National Electoral Commission (INEC) came up with a “supplementary arrangement” that saw the defeat of the then governor, Chief Ikedi Ohakim by Owelle Rochas Okorocha, have never hidden their intention to regain power from the All Progressives Congress (APC) government.

Okorocha won the election on the platform of the All Progressives Grand Alliance (APGA), but dumped the party, when leading opposition parties – Action Congress of Nigeria (ACN), All Nigeria Peoples Party (ANPP) and Congress for Progressive Change (CPC) agreed on a merger that led to the formation of the APC. His action, some analysts say, is likely to open the window for the APC’s “broom revolution” beyond the Niger come 2015.

Already, the governor has vowed to win the South-East for the party.

But members of the Imo PDP, who dismissed Okorocha’s optimism, have continued to work tirelessly to take back the Douglas House. They had re-grouped under the leadership of the senator representing Imo North in the National Assembly, Senator Hope Uzodinma (Imo West) and Deputy Speaker of the House of Representatives, Hon. Emeka Ihedioha, shortly after the last elections to re-build what was left of the party, which ruled the Eastern Heartland between 1999 and 2011.

Efforts pay off The belief of the party’s leadership in the state and national level is that Imo is a PDP state and must return to main stream politics like her sister states in the South-East zone – Abia, Ebonyi and Enugu. The re-building process later paid off when notable party members who jumped ship before and after the 2011 elections returned. They include former Governor Achike Udenwa, Senators Ifeanyi Araraume and Chris Anyanwu as well as several others.

Udenwa ruled the state between 1999 and 2007, while Araraume represented Imo North (Okigwe) in the Senate the same time before they fell apart with the leadership of the party under Ohakim’s administration. Senator Anyanwu, who presently represents Imo East (Owerri), on her part left for APGA when she was denied PDP’s senatorial ticket in 2011.

Dream gone sour But the gains of the re-building process appear to have turned out an undoing as the party heads for the forthcoming elections a divided house. Lack of cohesion, which caused it the 2011 governorship poll, has cropped up with the

Monday, July 21, 2014

Ihedioha

Araraume

return of the aggrieved members. At the moment, it is blackmail and propaganda among members over who flies the PDP’s flag in the 2015 governorship election.

So far, over 20 aspirants have indicated interest to contest the party’s governorship primaries and more are expected to join the race in the days ahead.

Notable on the growing list are former Governor Ohakim; Senators Araraume and Anyanwu; Hon. Ihedioha; former governorship candidate, Humphrey Anumudu; Chief Executive Officer of Germaine Autos, Jerry Chukwueke and member of the House of Representaives, Hon. Bethel Amadi.

The array of aspirants, which ordinarily would have afforded members of the PDP in the state a pool from which a formidable candidate who will give Okorocha a run for his money will emerge, is likely to cause an implosion that will deplete the party’s support base, and in turn cost it the election.

This is against the backdrop that the PDP may not conduct a crisis free primary the state. New Telegraph learnt that it was in the line of this thinking that former Minister of Interior, Captain Emmanuel Ihenacho, who had earlier aspired to vie for the party’s ticket, cleverly left for APGA. He hopes there would be a protest vote, especially by his Owerri people after the PDP’s primaries should the ticket go to another zone.

was cut short in 2011. In the same vein, PDP chieftains in Orlu zone are equally angling for the position.

A member of the PDP Board of Trustees (BoT), Chief Emmanuel Iwuanyanwu, who is in the vanguard of the Owerri campaign argued that Orlu and Okigwe have taken their turns thrice through Udenwa and Okorocha, while late Chief Sam Mbakwe and Ohakim for Okigwe.

In Okigwe, the argument is that zone should be allowed to complete its outstanding four years. Former National Vice Chairman of the party (SouthEast), Nze Ozichukwu Chukwu, who is the arrowhead of the agitation, told a delegation of Owerri political leaders recently that “Okigwe zone insists on restitution and demand for their outstanding four years after which they will seamlessly hand over to the next zone without rancour.”

The fear that the Imo PDP would go into the election a divided house worsened when leaders of the party in Orlu

Zoning challenge Besides the jostle for ticket is the wrangling over the zoning arrangement in the state. Premised on the Imo Charter of Equity, the agreement allows for a rotation of the governorship among the three senatorial zones of the state – Imo North (Okigwe), Imo West (Orlu) and Imo East (Owerri). Though the issue is beyond party followership, the row it is has sparked, is more pronounced in the PDP, as the ruling APC seems to have settled for Okorocha.

At present, chieftains of the PDP in the state, who ordinarily should be closing ranks, are working at cross purposes over which zone produces the party’s governorship candidate. While members of the party in Owerri zone are insisting that it is their turn in 2015, those in Okigwe say they should be allowed to complete their tenure, which

CO N T I N U E D F R O M PA G E 1 3

madu Buhari (rtd) and former Vice President Abubakar, sources at the meeting said Sheriff almost made real his threat.

The NEC meeting which held at the party’s headquarters in the Wuse 2 District of Abuja, was convened to discuss some pressing issues in the party, including its first ward, local government and state congresses as well as the national convention.

The membership of the party’s NEC includes all members of the National Working Committees, NWC, Board of Trustees, BoT, former presidents, vice presidents, governors and their deputies who are members of the party, and leaders of the party in the National Assembly.

Sheriff was a member of the NEC in his capacity as a former governor and a leader of the defunct ANPP, which formed part of the merged that produced the APC. He was the chairman of the ANPP Board of Trustees until the merger.

Sheriff is not new to the politics of alignments, re-alignments and movements to maintain relevance in the political sphere. In 1990, he became a member

Implosion looms While analysts warn of an implosion should the party leadership fail to reconcile the differences before the party’s primaries, some say the PDP, as a party is not new to internal squabbles. The party, whether at the national or state level, they noted, had always been at the verge of implosion whenever it is preparing for a major election.

To members of this political school, whatever is playing out in Imo PDP at the moment is unlikely to affect its chances in the 2015 elections. The optimism was premised on the belief that reason will prevail among the various interest groups within the party, and particularly the aspirants to back whoever emerges the party’s candidate.

The question then is: What criteria would inform the PDP’s choice of candidate for the forthcoming poll? A critical look at the party’s leading contenders – Ohakim, Araraume, Ihedioha, Uzodinma and Anumudu, shows that all have what it takes to lead the party to battle against the APC. Ohakim factor For Ohakim, who became governor of Imo State in 2007, on the platform of the PPA before returning to the PDP; he would be going into the contest banking on the structure he built while in office.

Speculations have surrounded his ambition in 2015, but he laid to rest the anxiety recently, when he told journalists that he desires to complete his tenure.

His declaration was however without a caveat.

“Naturally, my desire is to complete my truncated tenure, but that would depend largely on the approval of my

Finally, Modu of the Social Democratic Party (SDP).

In 1997, he joined the National Republican Convention (NRC), and was later a member of the Constitutional Conference where he chaired the committee on states and local government.

During General Sani Abacha’s military regime, Sheriff won election to become a senator to represent Borno Central on the platform of the United Nigeria Congress Party (UNCP), and at the return of democracy to the country in 1999, he was again elected Senator, this time on the platform of the All Nigeria Peoples Party (ANPP).

Sheriff was elected governor of Borno State in April 2003, under the ANPP platform and went on to win a re-election in 2007, defeating Kashim Ibrahim-Imam in both cases. Such a feat placed him as a prominent member of the party in the state, until the merger to form the APC took shape.

Others are of the view that Sheriff was being choked in the new APC

by Governor Kashim Shettima, who, though a former commissioner had be-

POLITICS

Sanctity of Truth

Monday, July 21, 2014

CO N T I N U E D F R O M PA G E 1 4

party, the PDP. If my party thinks otherwise, I will shelve the ambition and fall in line in whatever area it may want me to serve. I am not a desperate aspirant.

I know the rope and I know the rules,” he said.

While some people believe that the former governor still controls the PDP structure in the state, others are of the view that he has the backing of the national leadership of the party. Those who hold this belief said given the recent experience in Ekiti State, where former Governor Ayo Fayose routed the ruling APC, the PDP is likely to opt for Ohakim with the hope that he has what it takes to replicate same in Imo. Ohakim is also expected to harness some political gains from the attack on his Owerri residence few days to his public declaration to contest. The attack, which left his house razed, has attracted sympathy from some indigenes of the state, who believe that it was politically motivated.

His major challenges however remain the peoples’ perception of his personality and the threat posed by his kinsman – Araraume, who is also in the race. Most people in the state still view Ohakim as being highhanded, although he has publicly apologised for whatever wrong meted to anyone by his administration.

While the bitter political rivalry between the former governor and Araraume would be rekindled in the days ahead, give or take, Ohakim stands a chance to clinch the PDP ticket, as the appreciable success his administration recorded, especially with his Clean and Green Initiative is recalled with nostalgia by indigenes of the state.

However, his performance in the poll, should he get the PDP nod would be a different ball game, as he will miss the services of some of his close associates, aides and foot soldiers, who have since pitched tent with Okorocha.

Ihedioha as game-changer The Deputy Speaker of the House of Representatives, Ihedioha, who is also in the race, is banking on the support his ambition has received from the three senatorial zones of the state, especially his native Owerri.

He is so confident that he will not only clinch the ticket, but will win the poll. He claims to have the backing and endorsement of those he described as “super delegates across the 27 local council areas of the state.”

To those marketing Ihedioha’s candidature; he has lots of factors going for him. They include experience, garnered from over a decade in the National Assembly; party loyalty and acceptability

‘The battle within’

Ohakim

Okigwe zone insists on restitution and demand for their outstanding four years after which they will seamlessly hand over to the next zone without rancour at the grassroots. They also say that he is one of the few PDP members who have provided funds and logistics to keep the party alive in the state since 2011.

The House deputy Speaker, they further say, has done creditably well in the area of constituency projects, though his opponents allege that most of the projects are concentrated in his Aboh Mbaise local government to the disadvantage of the Ngor-Okpala axis that forms the second leg of the federal constituency, which he represents.

Should Ihedioha clinch the PDP ticket, he will contend with the belief in some quarters that he cannot be trusted. Those who hold this view said he breached an accord between the people of Aboh Mbaise and Ngor-Okpala for rotational representation between the two local government areas.

Sheriff goes ‘home’ come the leader of the party in the state.

Shettima was a former commissioner under Sheriff, and was nominated for governorship in 2011 by Sheriff but they have since fallen out. Some contend that his fallout with the incumbent governor was the major reason Sheriff was leaving the party, and that his move to the PDP, and declaration of being in support of President Jonathan’s re-election bid, is only a ploy to establish a political base, and invariably maintain relevance.

Another school of thought also noted that the point of disagreement between Sheriff and other power brokers in the party was his interest in heading the Board of Trustees (BoT) but the positions were shared out as part of the horse trading that went with the zoning of party offices before the convention.

Sheriff ’s desire to play greater roles in the APC was reportedly not helped by the not-so-robust relationship between himself and his successor, Shettima. And given the ex-Borno governor’s popularity in the state, coupled with his achievements as a former senator, for-

mer governor, and BoT chairman of the defunct ANPP, Sheriff must have been frustrated at not being allowed to play any prominent role within the APC Sources reveal that many in the APC were uncomfortable with Sheriff, even from their days in the defunct ANPP, and some APC leaders suspected him to be a mole planted in the opposition party by the PDP, perhaps due to his closeness to some senior members of the ruling party. Besides that, the role he is suspected to have played in the emergence and evolution of the extremist Boko Haram sect was also a source of concern to some APC leaders.

And now, that he has seemingly gone home to where his heart lay all the while, analysts are wondering what effect his defection would have on the fortunes of the APC, in that state, and the country as a whole. They are also of the opinion that his true electoral worth would be evident in how much votes he can garner for his new party, the PDP, in the state to turn the tide around in the forthcoming governorship and presidential polls.

Uzodinma

Uzodinma banks on numerical strength The Oru-born senator’s entrance into the race shocked many in the state. The shock was however not without a reason.

Imo West, where Uzodinma hails from has had a fair share of the Imo governorship. The zone has held the position for 11 years since the return to civil in 1999, and would be completing it 12 years in 2015.

While most of the aspirants from the other zones are harping on zoning, Uzodinma and leaders of the PDP in his zone, insist that the choice of candidate must be merit and capacity-driven. Their position, which negates the unwritten charter of equity, has set them on war path with other members of the party, particularly those in Owerri zone.

An undeterred Uzodinmma, has told his Orlu kinsmen that he is in the race for real, and reminded them that God had endowed them with the numerical strength and human resources to resist the temptation of playing second fiddle in Imo politics.

He maintains that Orlu people must always be in the position to determine who become what in the state given their numerical strength.

Coming into the race with a huge financial war chest, the senator believes that he has what it takes to stop Okorocha in 2015. However, how he will reconcile his interest with that of his close political, Ohakim, remains unclear.

No going back for Anumudu For Anumudu, who also hails from Owerri zone, his aspiration is irreversible. He believes that he is the most credible of the aspirants. But unlike the House Deputy Speaker, who has ruled out zoning as a motivating factor in his ambition, Anumudu insists that 2015 is sacrosanct to the Owerri zone.

His camp believes that the much talked about Imo Charter of Equity revolves around Anumudu. He was said to have won the PDP governorship ticket for the 1999 elections but handed over the baton to Udenwa from Orlu zone when leaders of the party prevailed on him to do so in line with the Imo Charter of Equity.

“If Barrister Anumudu ever laid that foundation of PDP in Imo state by paying for its first office and sacrificing his ticket in the interest of the party, good conscience and fair play justifies his presentation as the consensus candidate for the 2015 governorship,” his camp said.

Odds favour Araraume Araraume, who many say the odds favour, is equally claiming unfair treatment. He was a victim of political conspiracy, treachery and blackmail in 2007 when he was denied the PDP governorship ticket. He emerged tops in the

15

party’s primaries for the elections, but was denied to stand for the poll by the national leadership of the party and then President Olusegun Obasanjo.

Even when the Supreme Court ruled that he cannot be substituted, the party remained adamant. When it became clear that the PDP could not have its way, the party declared that it was not fielding a candidate for the Imo governorship poll. The aftermath was a directive to its members to support Ohakim, then of the PPA after a deal that he (Ohakim) will return to the PDP after the election.

Though Araraume said he has forgiven those behind his ordeal then, he explained recently that he joined the 2015 governorship race to serve the people with his wealth of experience. He therefore called for unity in the PDP, adding that President Goodluck Jonathan has assured party stakeholders that there would be a level playing field at the primaries.

“President Jonathan is a democrat who will never allow anybody to be denied a ticket, if the person wins primaries,” he said. But for a man who have contested the Imo governorship twice and lost, what are his chances, as he makes a third attempt?

His supporters believe that Araraume is one man who cannot be ignored if the PDP is to make any impact in Imo State in 2015. They say he has the capacity to add value to the party during the elections, given his huge financial war chest and great mobilization ability.

Already, the Isiala Mbano-born politician has re-activated his campaign machinery – Destiny Organisation, which has structures in virtually all wards in the state in readiness for the battle for the PDP ticket. The organisation, it would be recalled, was responsible for his landslide victory over then Governor Udenwa’s anointed candidate, Chief Ike Ibe, in the PDP’s governorship primaries in 2006.

Araraume has also embarked on a sensitisation tour of the 27 local government areas of the state, drumming support for his ambition. Besides popularity, another factor likely to work in his favour, is his closeness to two of President Jonathan’s strong allies – Chairman, PDP BoT, Chief Tony Anenih and Abia State governor, Chief Theodore Orji.

While Araraume’s closeness to Anenih dates back to his days in Benin, Edo State, his relationship with the Governor Orji, was some years ago cemented by marriage, when his son got married to the Abia governor’s daughter.

As the PDP primaries approach, it is expected that both men will seize every opportunity to drum support for Araraume from the President and the national leadership of the party.

PDP promises level playing ground While some of the PDP aspirants have raise fears over the possibility of the party conducting free and fair primaries, the party’s leadership in the state has assured all members seeking elective positions in 2015 of transparency, justice and fairness.

The state chairman of the party, Chief Nnamdi Anyaehie, who gave the assurance, said the party has installed the necessary machinery to ensure that money bags and those who feel they have strong connections do not hijack the primaries to realise their ambitions.

His words: “Let me assure all who cares to listen that our party is one for everybody, where members can seek elective positions of their choice without any strings attached, because we want progress, growth and development for our country.”

No doubt the Imo PDP does not lack those who can turn the political table against the ruling party in 2015; however, it mustrenew strategies to guarantee improved performance, as political observers in Imo State are keen on the emerging trends, which will likely make the next elections even more interesting than that of 2011.

16 POLITICS Nnena Kelechi

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he other day, I was walking down the streets of Igbere in Bende Local Government Area of Abia State and I saw posters of different colours and sizes with the inscription: “2015- PDP: GEJ FOR PRESIDENT, OUK FOR SENATE …support the team with the midas touch.” The acronyms GEJ and OUK stand for Goodluck Ebele Jonathan and Orji Uzor Kalu, both of whom need no introduction. While Jonathan is the president of Nigeria, Kalu is an eminent businessman and former Governor of Abia State.

On seeing the posters, I stopped to ask myself: So, OUK has finally obliged the call by his people to run for the Senate seat of the zone in 2015? Thereafter, I said to myself: Wow! This is good and timely.

OUK, as fondly called by all and sundry, is someone I had followed from his early years till date. His unionism at the University of Maiduguri as the president of the Students Union Government cost him a lot. This was simply because he decided to put other people’s interests above his. He was recalled back to the institution alone after his rustication alongside several others, but he refused on the premise that all other SUG officials must benefit from the same gesture, which the school authority ultimately rejected. Kalu never allowed this challenge affect him but continued life with a positive mindset that all is well.

He remained bold, courageous, fearless and hardworking in all his endeavours.

His business entity, which started as a small trading company, despite financial and economic recessions globally, is now one of the largest indigenous

Sanctity of Truth

Monday, July 21, 2014

Abia North deserves Kalu’s representation in N’Assembly conglomerates not only in Nigeria but on the African continent. Slok Holdings needs no introduction in this part of the world as it remains a household name in the business world. Take it or leave it, OUK is indeed not only a successful businessman but also an accomplished entrepreneur whose philanthropic gestures have impacted lives positively across the length and breadth of Africa through job creation.

He has also served in different capacities in the public sector. In his late twenties, he was on the board of government parastatals saddled with the responsibility of strategic policy formulation and implementation for the agencies. He served as a member of parliament before assuming the role of the executive governor of the ‘God’s own State’, Abia State. He was in charge from 1999 to 2007.

His last public office gave him the good opportunity to develop his home state through various pro-poor projects and programmes such as free education, free primary medical service, aggressive road construction, regular payment of salaries and bonuses, among many others. He was christened the “Action Governor” within six months of his assumption of office by the then President, Olusegun Obasanjo, a leader who sparingly praises people because of his high expectations. Hence, Kalu has a mix of both the private and public

Kalu

spheres of life.

The Abia North Senatorial District deserves a change from the poor representation of the current occupant of the seat, who had held sway in the past 13 years with nothing to justify his occupation of the seat. The zone has continued to cry for basic amenities. Anyway, what do you expect from a man in his late seventies - tired, sleepy and old mentality, or call it outdated thoughts.

I don’t want to apportion blame, but at the same time, we need to hold our-

selves responsible for this backwardness. Why? We could have resisted the humiliation from the soldiers that forcefully intimidated the people on the day of the 2011 National Assembly elections. In short, we were robbed of our mandate. So, tell me, will the senator be responsible to the people? The answer is NO. He owes no allegiance to the people but to those that forcefully brought him to power through the back door despite the stiff resistance by his people.

Politically, socially and economically, OUK has built bridges across the Niger.

He is one of the very few Nigerians with a wide network across tribal, geographical, political and religious divides. A founding member of the Peoples Democratic Party, he understands the ideals of the only political association with a human face.

There is no doubt that Orji Kalu remains the right man for the job. He is one man that redeems his promises and delivers good governance anchored on fairness, justice and equity. My fellow people of Abia north, let us say congratulations to ourselves that our dear son, OUK, has accepted to run for the Senate seat on the platform of the PDP in the interest of our zone.

God bless Abia North! God bless Abia State!! God bless Nigeria!!!

•Kelechi writes from Arochukwu, Abia State

Umoette: Adamawa shows PDP is on ground A governorship aspirant on the platform of the Peoples Democratic Party in Akwa Ibom State, Mr. Robert Umoette, in this interview with BIYI ADEGOROYE, reacts to issues in Adamawa and Nasarawa States, as well as giving reasons why Eket Senatorial District should produce the next governor in Akwa Ibom

What is your impression on the impeachment of the governor of Adamawa State and the similar move in Nasarawa?

It goes to show that the Peoples Democratic Party is on ground in those states, as against the All Progressives Congress which is essentially a political party only in the media. Take the case of Nasarawa, how can an APC governor preside over a state where for more than three years 20 of the 24 members of the House of Assembly are from the PDP? In Adamawa too, you will recall that all these legislators and even the governor were in PDP before the governor defected to the APC. You want to also remember that many leaders of the party are from that state – the immediate past chairman of the party, Alhaji Bamanga Turkur, former governor Buba Marwa, former ministers like Idi Hong, Jonathan Zwingina and the rest of them are still members of the PDP in the state. Then you have majority of the legislators. That really shows that were are on ground and the result is manifest to all.

But Nigerians have observed that many governors elected on the platform of the

people and this is and would be demonstrated in subsequent elections.

How would you describe the current level of political awareness in Akwa Ibom in the build-up to the 2015 governorship elections?

The fact is that political awareness is very high as the people want to know the persons interested in running the affairs of the state come 2015 towards making a decision. The consciousness level of the people is such that they want to know what each aspirant is offering as you cannot seek to govern just for the sake of it. They also want to know about the character and personality of the aspirants.

Umoette

PDP are not performing and their people are complaining about infrastructural deficiency in those states?

That is a challenge we are getting rid of gradually, the people must feel and see democratic dividends and that issue is currently being drummed into the ears of all governors elected on the platform of the PDP nationwide. You will recall sometime ago the chairman of the party, Alhaji Adamu Mu’azu sounded this warning to all of them. In fact, it is a mantra henceforth. If a governor does not perform in his state and enable the people to enjoy dividends of democracy, he should not expect re-election. That way, the governors will sit up.

How would you react to the victory of PDP in Ekiti State and what do you think are the prospects of the party in the South-West?

I had said it long before now that PDP is more grassroots than the All Progressives Congress, as such it has the capacity to take over the entire South-West and the outcome of the Ekiti gubernatorial election only goes to buttress the obvious. Osun is next and afterwards, and others in 2015. PDP is a party for the

What would you mention as the major needs of Akwa Ibom people?

I would say harmony and meaningful engagement towards improved quality of life. Harmony is paramount as a people divided on ethnic and political lines creates an unsuitable atmosphere for development, as such the need for all to come together as one remembering that we share a common origin and so must always first think of our collective interest as Akwa Ibom people before anything else. Besides harmony, the people need as a matter of urgency to be meaningfully engaged in human capacity/skills development as well as work/entrepreneurial engagements towards developing them as a people as well as building personal confidence in the people. Infrastructural development is a necessary requirement of all governments. We need to go beyond infrastructure towards building lives of the people by creating more professionals in different fields.

The agitation that Eket district should produce the next governor is receiving some resistance. What do you think?

If there is no resistance it would not be normal. For every positive line of action (even negatives), it is normal to have resistance. However, the fact on ground is that the majority of Akwa Ibom people

from the three senatorial districts agree that the next governor should come from the Eket Senatorial District and this is simply so in the spirit of justice, fairness and equity as the other two senatorial districts have taken their turns between 1999 and now. Prior to 1999 elections, PDP zoned the governorship seat to Uyo Senatorial District and Obong Victor Attah from Uyo Federal Constituency of Uyo Senatorial District became governor.

Prior to 2007 elections, PDP again zoned the position to Ikot Ekpene Senatorial District where the Annang tribe constitutes the majority and Chief Godswill Akpabio from Ikot Ekpene Federal Constituency of Ikot Ekpene Senatorial District became governor till date to leave after two terms by May 29th, 2015. And for 2015, PDP has zoned the seat to Eket Senatorial District and the people of Eket Federal Constituency with the highest population of registered voters in the district are demanding justice having followed same principle in two prior processes. Note that in Uyo Senatorial District, Uyo Federal Constituency has the highest registered voters, in Ikot Ekpene Senatorial District, Ikot Ekpene Federal Constituency has the highest registered voters and in Eket Senatorial District, Eket Federal Constituency has the highest registered voters.

How will you react to the level of performance of Governor Akpabio in the past seven years?

The number one thing Governor Akpabio has done for Akwa Ibom is bringing awareness to the state and its people.

This will bring business and other interests to the state. The other thing he has done is the kick off of free education programme and the next government after him will have to improve on the quality of the education. As regards infrastructural development he has done his best and next government will pick up from there and improve on his record more so as infrastructure development is a never ending phase in governance all over the world.

POLITICS 17

Sanctity of Truth

Monday, July 21, 2014

With less than five months to go, the politics for picking candidates for various political offices for the 2015 elections have gone full scale. In Kwara State, particularly within the All Progressives Congress (APC), all eyes are on who will be the ruling party’s flag bearer in that election. BIODUN OYELEYE reports

2015: As endorsement moves for Ahmed begin

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or the incumbent governor, AbdulFattah Ahmed, the drums of support for a second term have begun even though aides and party officials have refused to make public their thinking, or conclusion on the matter. If such moves had been in the private, now it is in the open. Unconfirmed reports from the opposition camp are that the governor has been mobilising traditional rulers and other stakeholders to seek support for Ahmed’s return to the Government House, Ilorin. There are also talks of mounting pressure on the decision makers in the party to pick someone else for the job. But all of these are in the realm of political talks usually associated with times like this.

Ordinarily, the governor is expected to fight for a second term in office but given the emerging politics in the north-central state, there are many politically strategic factors surrounding the final choice of who is picked as the candidate. One of such critical factors is incidentally the choice of the gubernatorial candidate of the opposition Peoples Democratic Party (PDP) in the state. It is expected that both parties will engage in intrigues on this matter, particularly with the timing and announcement of their respective choices.

For the APC, the party’s leader in the state, Senator Bukola Saraki may adopt the same strategy he used in the build up to the 2011 elections when he allowed aspirants from across the senatorial zones to campaign before settling for Ahmed at the last minute, in a move calculated to gain the support of the Kwara south zone against the choice of both the then ACPN and ACN who settled for candidates from the central. That move paid off as it secured the support of key politicians from the south.

Notwithstanding the situation, proAhmed endorsement activities have kick-started in the state, and whether his aides want such in the public forum or not, it has become an issue of discourse among politicians and members of the public.

In the last two weeks, two youth groups have come out to ask Ahmed to run and knowing the structure on ground for the party, they asked Saraki to support the move. The first group was the National Association of Kwara State Students (NAKSS) who came to visit Ahmed, to thank him for helping them with bursary and other pro-student policies. Over N300 million is said to have been expended on bursary for Kwara students across the country according to the chairman of the State’s Scholarship Board, Isiaka Magaji The students reportedly told the governor, who appeared surprised, that he needs to run again in order to do more in the area of educational development and youth empowerment. If he would run, one of the campaign points he would use would be his QuickWin and KWABES projects which his administration has used in fixing many youths into different levels of employment.

Although the opposition has argued that the jobs are not as high-paying as the qualifications of the beneficiaries would demand, the state government has been

Ahmed

quick to point out that the programmes are bridge opportunities to link the beneficiaries to some level of income and not permanent jobs. The beneficiaries are also on first line consideration for permanent jobs in the civil service once vacancies exist.

The students, who noted that the timely payment of the bursary would go a long way, told the governor they would continue to support the APC and displayed various placards expressing their support for the ruling party. They expressed satisfaction with the governor for revamping the education sector in the state. They described his performance as “progressive and people-friendly” while declaring their total support for his party and government.

In his response Ahmed not only thanked the students for appreciating his modest achievement in the education sector but assured them of his commitment to matters relating to their welfare such that they’ll turn out to be entrepreneurs later in life. He added that the bursary and scholarship scheme in the state would be strengthened to ensure conducive learning environment for students of the state origin anywhere in the country.

Soon after the visit, Ahmed approved the release of two buses to NAKSS and the Joint Campus Committee (JCC). He also approved the appointment of Comrade Patrick Adewumi Adekunle from Oke-Ero as Special Assistant on Students Affairs. These two moves have earned commendations from both the students and even Saraki himself who personally signed a statement to appreciate Ahmed for the gesture.

In the short statement, Saraki described the appointment as “a timely and well deserved gesture from the Kwara state government which places the students as integral part of our society” adding: “I commend our governor, His Excellency, Alhaji Abdulfatah Ahmed for his keen and fatherly interest in educational development in Kwara state which he has demonstrated through the appointment of the SA Students’ Matters.

“I want to charge the entire students community in Kwara state, from campus to campus and unions to unions to unite with the state government through the SA Students Matters in order to ensure students in Kwara state emerge best among others in welfare, social, aca-

Saraki

demic and communal activities.”

Aside from the students, another group has also come out to identify with the governor towards 2015. The group, Kwara South Youth Consultative Forum (KSYCF), led by Kazeem Adekanye also said at a news briefing that they want the governor to continue in office.

Adekanye, who read the group’s statement to the media said: “We therefore call on all well-meaning Kwarans irrespective of political, religious and ethnic affiliation to drum support for the actualization of the return of Alhaji Abdulfatah Ahmed come 2015 as governor for the second time to continue and complete the good work he had already started in various facets of human development; health, education, infrastructure, water, youth employment/empowerment, agriculture, energy etc.

“In view of the forgoing, we appeal to the electorate; Kwarans home and abroad and Non-Kwarans resident in Kwara Central, North and South be you (Youth, Student, Market Men/women, Artisans, and public/private sector, politicians, religious and traditional institutions) etc to support the APC and our leader, Dr. Abubakar Bukola Saraki.

“We plead with Senator Saraki, the APC and all stakeholders to make this our vision of continued shared prosperity a reality by fielding Maigida in the 2015 elections as governor, while on our own part we assure the APC of massive votes.”

Adekanye and his group have been strong supporters of Ahmed for a long time. Recently they took up a former Commissioner in the state, Ben Duntoye, who had also been a youth leader

Aside from the students, another group has also come out to identify with the governor towards 2015... Adekanye also said at a news briefing that they want the governor to continue in office

in the state but is now in the PDP, for describing the Ahmed government as one whose achievements are only known on the social media and billboards.

In a strongly worded statement, KSYCF had expressed dissatisfaction with Duntoye who used to be one of their rallying points while in government, saying his comments was totally in bad taste and typified him as someone seeking political relevance by discrediting the hand that fed him.

Adekanye, said the failure of the erstwhile commissioner to see what the present administration had done, means that he was suffering from selective amnesia. He said: “The youth of Kwara South Senatorial District of Kwara State under the banner of Kwara South Youth Consultative Forum are constrained to react to the malicious blackmail credited to Duntoye, who inferred that the present administration’s achievements are only on the social media.

“It is instructive to note that the administration of Dr Abdulfatah Ahmed has done creditably well in the area of provisions of social and infrastructural development in Kwara State and Kwara South in particular.

“Worthy of mention is the newly constructed road in Ijomu-Oro town all in standard asphalt, the ongoing Oke-Rimi to Oloro’s palace prepared for asphalt pavement and they are all sited in the community of the said Ben Duntoye who is suffering from selective amnesia, not to have noticed these two major projects in his domain.

“This ridiculous claims of non performance of Governor Ahmed’s administration is a political propaganda with sour taste and a disservice to his community who had before now led by the paramount ruler of Oro Kingdom, Oba Abdulrafiu Ajiboye, to pay a thank you visit to the state governor for the wonderful job he has done in Oro Kingdom except if he is saying that His Royal Highness does not know the meaning of the visit”.

Nobody either in the APC secretariat or Government House was ready to speak on the matter preferring, as one of them told our reporter in confidence, “to put the matter to the reliable test of the Saraki political structure because the way the structure runs is quite different and has been very helpful to our stability”.

18 POLITICS

Sanctity of Truth

Monday, July 21, 2014

Kano: Dilemma of succession

Kwankwaso

As the race for the 2015 governorship election in Kano State heats up MUHAMMAD KABIR takes a cursory look at the parties and the various actors, and happenings that would excite the political space

I

t is no longer news that in virtually every state of the federation the frenzy for who succeeds the governor has become an increasingly raging battle, especially in states, where the incumbent is serving out his second and last term of office. And so, in most of such states, there is serious confusion, uncertainty and often times, crises over who would have the shot at the number seat to occupy the state’s Government House.

In Kano State, one of the most politically active domains in the country, the story is not different, more so, given the fact that the state, apart from its political nature, is also one of the commercial nerve centers of the nation. Here, the situation is the same, if not more controversial, or volatile because of the intra/inter political wrangling that have been going on ahead of the 2015 governorship election.

Already camps, like minds, allies and political friends have started identifying their groups with a view to establishing a strong pillar that will be enough to withstand the raging storm that may precede and accompany the 2015 elections as far as the state is concerned.

The impeding electoral battle promises to be a fierce and interesting one.

This will be made so considering; one will not shy away from the fact that the incumbency factor of the ruling APC government, will play out against the main opposition party in the state, Peoples Democratic Party (PDP) strong hold that boasts of two federal ministers; one for foreign affairs, and the other education. These factors will certainly play a huge role in determining who emerges candidate, or in other words occupy the

Shekarau

coveted seat.

Looking at the intra wrangling that might emerge provably from within the circle of the APC ruling government; one could link the interests of some actors who now pose a serious headache to Governor Rabiu Musa Kwankwaso. These actors include his deputy, Abdullahi Umar Ganduje, the former deputy governor to Shekarau who is now an APC member, Engineer Abdullahi Tijjani Gwarzo, State Commissioner for Finance Abdullahi Mahmud Gaya, Kwankwaso’s commissioner of Works Abba Kabir Yusuf, and the Secretary to the State Government (SSG), Rabiu Suleiman Bichi.

Other actors in the APC who are now vehemently standing against anybody that would try to clinch power after Kwankwaso, includes the Commissioner for State Affairs, Nasiru Gawuna a new commissioner, Barau Jibrin and many others who today threaten the unity and strength of the APC in Kano if they are rejected.

All these political heavy weights, who are today seeking to succeed Kwankwaso are doing so with all determination and zeal believing that they will be the beautiful bride the governor would consider when it comes to who takes over from him come 2015. So, the maneuvres, scheming and horseplay have kicked off in earnest in a bid to be the favoured candidate However, it has been noted that the governor is quoted to have maintained a hash stance that, “only politicians who are recognized to be ‘Red Caps habitual wearers’ will succeed us, and we mean our stand, no matter what”.

It is also true that more than a dozen of those seeking the exalted seat today have been bonafide red caps revolutionaries, and they have never been found wanting in their loyalty to the red cap symbol. However, that seems not to be the case because the governor is alleged to have clearly tilted towards particular persons as those whom he has in mind to succeed him.

And at the same time the governor was quoted to have told his confidants that, “myself and the deputy we are old in this game there is the need to allow young and radical minds to emerge or contest the governor seat”.

This statement that was said to have not gone down well with the deputy, who was also quoted to have replied

Abacha

that, “we will see who will stop us from this contest, because it is God that do give power to whomever he so wishes”.

And to Abdullahi Gwarzo, a former deputy governor to Shekarau and the person who superintended over the last local government elections in the state which returned APC overall winner. Though an easy going gentleman who doesn’t seem to have any hash stance on issues, this time around it is no longer news that the man has taken a hard stance that he had paid his due, and that he should be allowed to have the shot at the governorship position.

And similarly, the SSG, Mr. Bichi, who has openly indicated his interest and has been in the vanguard of doing things that will clearly make him relevant in the scheme of things so as to prove a point his competency, is said to be making very frantic efforts at convincing the governor to look his way come 2015.

But Governor Kwankwaso is believed to have a particular interest in some of his closest confidants; people like his commissioner of Works.

Though young, he is considered very experienced because he has been an aide to the governor right from his first tenure to when he became defense minister and now a commissioner.

Other people that are in the good book of the governor include his information commissioner, Nuhu Danburam Abubakar who has been so loyal even before Kwankwaso returned in 2011, and somebody who was said to have expended huge resources in ensuring the victory of the governor.

Another person that is suggested to be in the mind of the governor is Ahmad Garba Bichi who contested against Shekarau in 2007 but failed to stop Shekarau and later became state commissioner of commerce.

These factors will certainly play a huge role in determining who emerges candidate, or in other words occupy the coveted seat

No doubt, Kwankwaso is in a dilemma internally over who succeeds him, the forces interested in his seat are so enormous and hell-bent on causing serious trouble in case they are not allowed to contest the poll. This is apart from two other trouble makers that have reportedly since put it to the governor that they have finished their homework and are only waiting for his endorsement or else to go to the town with their troubles.

These guys are the incumbent senator representing Borno South Senatorial District of the state and a former governor, Arch Kabiru Gaya and indeed the House of Representatives member representing Sumaila Takai Federal constituency, Kawu Abdurrahman Sumaila.

The duo who are both APC members, are genuinely looking for the Kano number one seat, as they have made open declaration and serious attempt on it, and have told the world that they are ready for a fight to finish over the position.

All these forces are only within the APC. On the part of the PDP which is all out to unseat Kwankwaso and show him that they are the real owners of Kano politics, there are a number of actors who are all out also to make it to the state’s number one seat.

These people include, Mohammed Abacha the eldest son of late Head of State, General Sani Abacha who recently enjoyed the Federal Government’s expression of mercy as he was exonerated for alleged fraudulent acts.

There is also Salisu Sagir Takai, regarded as Shekarau’s loyalist. Takai who was said to have been behind the misery of the All Nigerian Peoples Party (ANPP) in 2011 because of the vehement stance Shekarau took, that it was either him or nothing. He is still in the race.

Though there are many people in the PDP who have not yet fully expressed their desire to contest the seat, speculations have it that they are soon very interested.

Now with the dilemma of Governor Kwankwaso over who succeeds him either from his own house, or from the PDP, given the aggressive moves being displayed by the interested individuals, and the various moves by their teeming supports in the political scheme, the 2015 elections in Kano State does promise to be an interesting game.

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19

EDITORIAL

Sanctity of Truth

Monday, July 21, 2014

w w w.new telegraphonli ne.com

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

MONday, JULY 21, 2014

Reviewing the revenue sharing formula

he National Conference Committee on Devolution of Power has given reasons for suggesting that states and local councils must earn more than the Federal Government from the Federation Account. The committee, whose report was considered and debated by the delegates at the plenary recently, has recommended increase in the monthly allocation to the states. The report, which was presented by the co-chairmen of the committee, Obong Victor Attah and Ibrahim Coomassie, recommended that the Federal Government should get 42.5 per cent, State Governments, 45 per cent; and Local Government, 22, 5 per cent.

One of the most persistent thorny issues in the country is the demand for a more equitable revenue sharing formula. This has even propelled the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) to carry out a nationwide sensitization programme some months before the inauguration of the National Conference. Critics rightly point out that one of the problems is that the current sharing formula was designed in 2002 when 13 percent of the national income from oil and gas was approved for the 11 oil-producing States as derivation revenue.

The new recommendation at the ongoing National Conference, if passed, will replace the existing formula by which the federal gov-

ernment is currently earning 52.68 per cent, while state governments are earning 26.72 per cent and local governments get 20.60 per cent from the Federation Account. The committee said the increase in the money going to states would help them to fund other projects that would come from the devolution of power, which it said would place more responsibilities on them.

It said: “Power should devolve to the federating units by reviewing the Legislative Lists in order to give true meaning to our federal system of government.” It added that due to the enormous “concentration of power at the federal level, the committee considered it necessary to reduce the…powers at the federal level and devolve same to the federating units.”

The committee said revenue sharing was a very important issue in a federal system of government, adding that the concept of fiscal federalism deals with how revenues are disbursed to the federating units in a federation. It further pointed out that in Nigeria, revenue sharing is one of the most robustly debated issues because of its social, economic and political implications.

The committee, therefore, discussed the issue extensively in its recommendations on the Legislative Lists and the need to maintain equilibrium between the federal government and the federating units (state and local governments) and peace, stability and the prosperity of the

nation. The committee further took into consideration the need for the federal and state governments to fulfill their constitutional responsibilities and the need to ensure development of all parts of the country in arriving at its recommendations.

Furthermore, during its deliberations, the committee also examined specific development challenges of states and local governments and expressed the opinion that, to a great extent, rapid economic and social development could be achieved in Nigeria with increased percentage of revenues allocated to states and local governments.

There is no doubt that the recommendation of the committee is a right step in the right direction and in furtherance of the fundamental ideals of true federalism. The fact remains that in Nigeria today, whereas, we claim to be a federal state, what is indeed obtainable is a unitary system of government, which is cumbersome to operate in our highly pluralistic society.

The other side of the argument is that there is too much money at the centre not being properly utilized or accounted for, with so many ministries and parastatals that have no business being at the centre.

They would be more effective at the state and local government levels, hence the revenue allocation equation should tilt in favour of states and local governments because it is the only assured way that greater and faster pace of development can

be achieved at the grassroots.

As Nigeria matures into a nation state, the various revenues generated at the state and local government levels should be retained by them with a certain percentage being paid to the centre. But in the meantime, the proposition and suggestion by the Committee on Devolution of Power is a welcome development.

However, concrete instruments and mechanisms must be put in place to monitor and supervise the states and local governments, so that the funds at their disposal would be judiciously expended to enhance development. All envisaged loopholes and leakages in the system must be blocked, and the development efforts of these tiers of government must be properly and effectively supervised by relevant authorities to yield the necessary dividends at the end of the day.

It is very obvious that the present revenue formula is lopsided, inequitable and incapable of adequately addressing the development challenges and nation building efforts across the length and breadth of the country. This situation makes a new revenue allocation such as the one now proposed appropriate for the country. This is because it has people as the centre of development in contrast to the current arrangement, which is grossly wasteful and caters to only a small percentage of the populace.

GABRIEL AKINADEWO Managing Director/Editor-in-Chief FELIX OGUEJIOFOR ABUGU Deputy Managing Director/DEIC 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 TIMOTHY AKINLEYE Head, Graphics ROBINSON EZEH Head, Admin.

20

Sanctity of Truth

Monday, July 21, 2014

OPINION Curbing the menace of Abuja land speculators Rogers Edor Ochela

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n Nigeria today, there is no state or city where the menace of land speculators is as pronounced as the Federal Capital City. For want of a better expression, their activities have made land ownership a nightmare for potential investors in the nation’s capital city. The situation has become so bad that double or multiple land allocations and wanton abuse of Abuja’s Master plan have become the norm rather than the exception.

That this disturbing phenomenon has persisted till date is not due to lack of attempts by the FCT Administration to curb it. Far from it! Successive administrations in FCT have made several attempts to halt the menace with little success. Each time policies are rolled out to curb the activities of land speculators, the criminals involved would always evolve their own strategies to circumvent such government’s policies.

If truth must be told, thousands of Nigerians have fallen victims to the dangerous activities of land speculators in Abuja, with scores of them losing, in the process, precious properties worth millions of naira and even lives.

Some became hypertensive, while others have become living corpses as a result of the rapacious greed of these elements.

That the incidence of land speculation in Abuja is being fuelled by the greed of some desperadoes is not in doubt. But what is, however, disturbing is the cutting of corners or worse still, the flouting of laws to dubiously acquire lands for amorphous land development purposes.

The FCT Minister, Bala Mohammed at the 34th Leadership Forum put together by Nigerian Pilot and its sister publication, Nigerian Newsworld magazine sometime this year, had expressed serious worry about the pernicious activities of land speculators, which he said had become a

cog in the wheel of progress, especially in land administration in Abuja. According to the minister, when he took over the driver’s seat at FCTA in 2011, land speculators were seen as the real landlords of Abuja who were doing their illegal businesses with reckless abandon. However, the FCT administration decided to frontally tackle the menace with the setting up of Senator Saidu Dansadau Committee with a view to breaking their vicious stranglehold on land administration in the territory. Thereafter, he digitalized the system, which led to the enthronement of accountability in land administration in the FCT. To further prove that he meant well for the FCT, Bala deliberately decided to empower all plot owners by granting them titles, a development that has gone a long way in boosting the confidence of investors in the territory’s land administration.

The minister’s commendable efforts notwithstanding, some dubious smart alecs masquerading as land agents (read speculators) have been working assiduously to frustrate such laudable efforts, a development that has led to the recent avoidable friction between the FCDA and some estate developers like Minannuel Estate Developers and Saraha Estate in Galadima, along Kubwa Expressway, whose houses fell under the weight of government’s bulldozers. That development generated stormy criticisms from a segment of the society.

That the FCT Administration is favourably disposed to having private sector acquire lands for the purpose of providing houses for the people does not mean that when such developers breach the laws of the land with impunity, the authority should turn blind eyes to it. Because if such abuse of processes leading to land acquisition is allowed to persist, Nigerians may wake up to find that Abuja has been turned into a jungle.

To forestall such possibility and further reduce the

fraud associated with land administration in the territory, Bala Mohammed in his ministerial wisdom has injected transparency and good governance into Abuja Geographical Information System (AGIS) as epitomized in the introduction of Spatial Data Infrastructure (SDI).

The revolutionalization (permit the coinage) of the agency via computerization of “spatially related work flows in selected departments and agencies and the buildup of AGIS Resource Centre’’ is a strategic effort geared towards this direction.

It would be recalled that the minister’s determination to tackle the menace of land speculation was further manifested when some of his aides were caught in land malpractices. What did he do? He promptly fired them and handed them over to the security agencies for prosecution.

That is a commendable act of seriousness on his part.

Experts in land administration and other unbiased developers are of the opinion that whatever the minister and his aides have been doing in the area of land administration is hinged on the spectacular pillar of abiding fidelity to Abuja’s Original Master Plan. Judging from his body language thus far, the minister has shown that as far as sticking to Abuja’s master plan is concerned, he is not willing to compromise. And that explains his persistent, rugged determination to give land speculators a bloody nose and throw them out of business once and for all.

Agreed, the administration has not totally succeeded in clinically eliminating this group of economic saboteurs from Abuja’s landscape, but it has taken the battle to their doorsteps with an all-round impressive transformation of land administration through AGIS under the directorship of Hajiya Jamila Tangaza.

• Ochela, a former Newspaper Editor and now media consultant contributed this piece from Bwari Abuja and can be reached via edorochela@ yahoo.co.nz.

‘Missing' Oil Revenue: Between Sanusi and the Senate Matthew Adejoh

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hen the former Central Bank Governor, and now Emir of Kano, Sanusi Lamido Sanusi spoke self-assuredly about unaccounted-for oil revenue and the ever-busy bees of the opposition trumpeted his words as gospel truth, many Nigerians, aghast at the level of corruption among current and past government official, lent their voice to the debate for and against the bogus claim. But, today, courtesy of the Senate of the Federal Republic, we now know better.

Thank goodness, the former CBN boss has left his central position in Abuja to become a ‘local champion’ in Kano. The pity for the Kanawas who have to contend with a monarch who will do anything, including misleading a gullible public, just to save his own skin.

A frightened Sanusi, eager to save his obviously threatened job following queries over his management of CBN, had cleverly put the president’s back to the wall with a scurrilous letter to Goodluck Jonathan alleging non-remittance to the Federation Account by the NNPC the sum of $49.8billion, representing 76 per cent of the value of crude oil lifting from January 2012 to

July 2013. Apparently expecting that the letter would undo the government, agents of the opposition had leaked it to the press.

But after a presidentially-ordered reconciliation, the Emir retraced his steps and agreed that the figure was over $12 billion, which he revised again downward to $10.8 billion and later (finally) to $20 billion.

In discrediting Sanusi’s letter, the Senate Committee on Finance, headed by former Kaduna Governor, Ahmed Makarfi, declared that “there was never any unremitted $49.8 billion….The committee could not see how the figure of $49.8 billion was arrived at by the CBN governor in the first instance.”

Senator Ayogu Eze (Enugu North) commended the committee for hiring professional auditors who made it possible for the investigation to be done well. He said it was amazing that the then CBN governor, who was supposed to know the facts, misled the country by giving conflicting reports.

But the committee stated that all the agencies, which made presentations to it, agreed, after reconciliation, that $47 billion out of the $67 billion had been credited to the Federation Account, leaving only $20 billion yet to be accounted for. Part of the outstanding $20 billion was the $5.254 billion spent on subsidy for Premium Motor Spirit by the Petroleum Products Pricing

and Regulatory Agency, which was covered by the Appropriation Acts of 2012 and 2013, the Senate Committee said. It added that the $3.512 billion spent for kerosene subsidy as certified by PPPRA for the period January 2012 to July 2013 was still part of the $20 billion.

But the subtle indictment of relevant National Assembly committees was not lost on its Chairman, Senate President David Mark, who looked for the whip he should have used a long time ago, and lashed his colleagues. He also did not spare the Emir, even though he was political enough not to want to hurt the sensibilities of the Kanawa nation, by not making any direct reference to his office or person, but it was obvious he was referring to him when he hinted at rumour mongers.

His words: “At the inception of the seventh Senate, I did say emphatically that there is no issue in this country that we cannot discuss as respected and distinguished senators of the Federal Republic of Nigeria. If we have the courage to set up a committee, nothing will stop us from taking the report of that committee and nothing will be swept under the carpet in this red chamber.

“I think what is glaring from this report is that we are all guilty. If the committees expected to carry out oversight functions on the NNPC were doing their job very well,

we wouldn’t have needed the governor of Central Bank to ring an alarm bell before reacting. Whether the alarm is genuine or not, is another matter. The executive may have good reasons but the legislature obviously does not have reasons not to find out.

Let me appeal to the various committees to endeavour to do their work.

“On the issue of subsidy, I want to appeal that we should not pit ourselves against the public opinion. If subsidy has to be removed, there must be public enlightenment and education so that facts would be made available to the people and then public opinion at the end of the day will count.

“If we sit here now and say remove subsidy, I think those who are benefitting from subsidy are very powerful and tomorrow they would influence media reports and twist them to create an impression that the Senate is anti-people.

Mark spoke well. He hit the bull in the eye, but it should be added that when federal lawmakers, who are part of the federal government fail to do their jobs, and rather run around the corridors of Ministries, Department, and Agencies (MDAs) to curry favours, they leave everyone in government, especially themselves, culpable when men with diarrhoea of the mouth, like Sanusi, speak.

• Adejoh contributed this piece from Abuja.

INVESTIGATION Monday, JULY 21, 2014

Religious services at night are supposed to be periods when men seek to be in solemn union with their Creator. But, such pious endeavours appear to be bringing grief to homes in recent times, so much so that questions are now being asked as to the motive of the organisers, writes ISIOMA MADIKE

21 NEW TELEGRAPH

www.newtelegraphonline.com/investigation

ISIOMA MADIKE Editor, INVESTIGATION

isioma.madike@newtelegraphonline.com isiomamadike69@gmail.com

Vigils of sorrow

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t was Karl Marx, a German popular for his socialist writings, who in one of his works, Critique of the Hegelian Philosophy of Rights, stated that “Religion is the sign of the oppressed creature.” Marx did not stop there. In another instance, he also saw religion as “the Opium of the Masses.”

There are other philosophers, who equally view religion as a belief in the worship of some powers greater than mortal man. They believe it to be a bridge to the supernatural realm and an expressive measure of human, spiritual and material science as well as a continuation of wisdom by systematic approach.

Yet, a few others believe there could be glaring cases of hypnotism in all of these.

Incidentally, Marx’s statements, some say, are beginning to make sense in Nigeria. For proof, there is hardly any newspaper, television or radio stations in the country today that are not swamped with religious advertisements, giving notice of either the formation of one church group or the other, or handbills and flyers announcing crusades and special healings by churches, and recently, mosques.

However, there is a freshly redefined aggression against Satan, the devil or so it seems through night vigils. Though, Biblical, night vigils seem to have been elevated to high heavens in this clime.

Many now believe more than ever before on the efficacy of vigils as if it is a new addition to the Holy Bible. Pastors are quick to quote sections of the Bible to support the claim that vigil is a Biblical injunction.

They easily make references to Jesus Christ, who they say the Bible recorded to have performed the first known vigil in Matthew 26:36-46. Other references are: Paul and Silas, Acts 16:25, Hezekiah, 2 Kings 20: 1-10, Nehemiah 9:3 and Mary Magdalene, Matthew 28.

It has also become fashionable to see these pastors talk about cleansing, casting and binding. They often would ape the prophets of old. They quote passage after passage of the Bible, posting ver-

Christians at a vigil session

Their Muslim counterparts doing the same

bal punches, and supposedly casting out lecherous evil spirits, knocking them, as they say, senseless into nothingness. As they reel off the word of God with an incredible speed, the devotees, most times

in circle formation would respond with shouts of Amen, Holiness, and Alleluia, much in the manner of those caught in the terminal throes of death, muttering unintelligible, perhaps, celestial words.

The Muslim faithful are not totally left behind as they have also joined the scramble to hold vigils. Indeed, religion CO NTINUED O N PAGE 22

22 INVESTIGATION

Sanctity of Truth

Monday, July 21, 2014

RCCG started what is now known as ‘Holy Ghost Festival'

kumuyi

Adeboye

Makinde

Ibrahim

CON TINUED FR O M PAGE 21

make Heaven.

The Redeemed Christian Church of God (RCCG) led by its General Overseer, Pastor Enoch Adeboye, a former mathematics lecturer at the University of Lagos, triggered off a kind of revolution in Christendom back in 1999. Adeboye had started a kind of vigil that is now known as “Holy Ghost Festival” at the church’s Redemption Camp Arena, located at kilometre 46, Lagos-Ibadan Expressway. The camp is a small town with many auditoriums for worshippers, offices, guest houses and residential quarters. It is always a beehive of activities.

RCCG is one of the Pentecostal churches in the country with a large population of miracle seekers. It is also regarded as the fastest growing church in Nigeria with a network of branches in foreign countries. The vigil is usually a three-day spiritual festival. The yearly event, according to the worshippers, provides the opportunity to solve whatever problems they may have through Adeboye’s miraculous powers.

Like everything Nigerian, the bug of Holy Ghost Festivals has caught up with several other denominations, especially

has become big business for some church and mosque operators and an irresistible pastime for worshippers, most of who go to church and mosque in search of miracles to solve their various problems.

Vigils attract large population of miracle seekers It is, undoubtedly, everyday process of supplication, praying and worshipping by members of these religious sects.

Many have come to believe, however, that the Nigerian style of worship can only be tolerated in a society stretched on the rack of ignorance, disease and poverty, which is a common characteristic of today’s Nigerian society. These Pastors and Imams have desires and goals for “their” ministries.

But, those goals and desires, according to opinions, are often much different from God’s. They desire good finances, good numbers (members), glamorous buildings, and even national recognition.

Yet, God’s ultimate desire, according to the Bible and Qur’an, are people ready to turn away from sin and live holy to

among Pentecostals. A large number of religious leaders now hold the enlarged vigils mostly at month-ends either in their churches and mosques or relocate like the RCCG to the Lagos-Ibadan Expressway. And most Nigerians have come to align with the vigils believing that the God of miracle resides along the everbusy highway.

Dr. Daniel Olukoya’s Mountain of Fire Ministries (MFM)-Prayer City, Deeper Life Conference Centre (DLCC) at kilometre 42, shepherded by Pastor William Kumuyi, Love Word Camp Ground (LWCG), Christ Embassy’s flamboyant Chris Oyakhilome, and Nasrul-LahiFatih (NASFAT) are the most prominent.

They use their sites either temporally or permanently as abode for vigils at the Expressway.

The Holy Ghost vigils are crowd pullers any day. They have all kinds of people in attendance, including but not limited to the highly-placed in the society. A roll call of the RCCG participants, for instance, includes the President of the Federal Republic of Nigeria, Dr. Goodluck Jonathan, Generals Yakubu Gowon and Olusegun Obasanjo, two former heads of state, Tunde Adeniran, former Minister of Education, Oladele Olasore, former Secretary (Minister) of Finance, who later became a traditional ruler of Ijoko-Ijesha.

Others are: Segun Osoba, former Ogun State governor, Yemi Osibajo, a professor of Law and former Commissioner for Justice in Lagos State, and Mrs. Oluremi Tinubu, senator and wife of former governor of Lagos State, Asiwaju Bola Tinubu, are pastors and frequent callers at RCCG Campground.

Other prominent Nigerians that were once spotted at the night prayers also included Michael Ibru, a business mogul, Felix Ohiwerei, former chairman of Nigerian Breweries and Kodjo Williams,

former chairman of Nigeria Football Association (NFA). Williams is said to be a regular caller at the Camp at the time he called the shots at the football house. The presence of a large number of traditional rulers at the services is also amazing. At any given service, the rulers in their full regalia, accompanied by their wives, comfortably sit in the front rolls of the church.

A trip down to these Camps in Ogun State always remind one of the Biblical exodus and what Moses must have gone through in leading the Israelites to Canaan – the proverbial land flowing with milk and honey. The multitude in Moses’ time was a great one but it could pale into insignificance when compared to the large mass of people that descend on the Camps during the vigils.

And, as in Biblical times, the LagosIbadan Expressway multitude also seek their own Canaan, going to God with legion of problems confronting them in a nation where almost everything that makes life worth living, has gone wrong.

The situation has left a stunted and battered economy, poor infrastructure, bad value systems, corrupt governance with leaders, who are supposed to give succour and hope to the people ending up being their oppressors and task-masters, just like Pharaoh in Moses’ days.

Non-members and unbelievers also seek miracles Non-members and even unbelievers troop out in such occasions to be in God’s presence and hope to get some anointing that would break some of the heavy yoke on their oppressed shoulders. Humans of different shades pour in. It is, indeed, an endless stream of humanity, in a continuous flow as if they are coming out of a bottomless pit. Cars sometimes are stopped from entering the venues as the roads often would have been choked with traffic, both vehicular and pedestrian.

Yet, people would come, all walking up and down, milling around; many with their luggage on their heads or carrying mats or mattresses in their hands. Others with their families – children and other relatives, bring with them household items like pots, pans and plates as well as rice, garri and other foodstuffs.

But, RCCG is not the only camp ground that people flood in. Participants also seek God in all travails at Deeper Life Easter vigils. Twice every year, Nigerians come from far and near, in their tens of thousands, repentant in supplication, prayerfully seeking God’s succour in all aspects of their lives. They seek spiritual renewal, which, since inception, the Deeper Life Bible Church’s yearly retreat is said to have offered participants. The church started the retreat at its international Bible Training Centre (IBTC), Ayobo in Ipaja area of Lagos State.

However, the vigils Nigerians would not forget in a hurry remains that of Lekki ’99 organised by Adeboye’s RCCG and the Easter night vigil by OyakhiCO NTINUED O N PAGE 23

INVESTIGATION

Sanctity of Truth

Monday, July 21, 2014

23

Motion without movement at the Expressway vigils CON TINUED FR O M PAGE 22

lome’s Christ Embassy in 2006. From the repeated announcement of the church programmes on the airwaves in the build up to the events, Lagosians knew there were going to be a real treat at those weekends. But, what gospel revelers and other road users never bargained for was that the roads would be clogged to the point of forcing people to spend over 12 hours on one spot. Indeed, thousands of people, who left their homes on the two occasions, could not get to the venues of the services 24 hours later. Neither could they return to the comfort of their homes.

Near absence of traffic controllers worsens the chaotic situations For the Oyakhilome’s vigil, it was motion without movement. In a word, Nigerians were stranded in the middle of “a no man’s land” without water, food and other conveniences of life. People were exposed to the elements even as the fear of men of the underworld gnawed at their hearts. There was nothing like that in recent memory. Not even the famed monthly revival service of RCCG that usually jam the Expressway compared to that weekend gridlock, stretching over 20 kilometres on both sides of the revival venue.

The traffic snarl from Lagos end started from Berger on the outskirts of the metropolis, while the Ibadan axis of the hold-up extended beyond the diversion to Lagos-Ore-Benin road. The near absence of traffic controllers worsened the chaotic situation. The predicament affected social and business activities of residents of Lagos and its environs. This, also, is the situation in the service tagged Good Friday miracle, organised near Ibafo on the Expressway by the Cherubim and Seraphim sect.

Passengers that were leaving Lagos for other parts of the country for that year’s Easter holiday ended up spending a greater part of their holidays on the road as there was a total standstill for many hours.

Emmanuel Nwaghodoh, a Lagos-based lawyer, narrated his experience in that hold-up: “I left Delta State on the Friday and got to where I joined the queue around 4 p.m. I slept there and could not get to Lagos until on Sunday. It was terrible. In fact, it was indescribable.”

But, Nwaghodoh was not alone in the distress occasioned by that Easter vigil.

Ambrose Osunde, another Lagos resident, has this to say. “It is a lawless country. I was there with my family for hours and the so-called pastor that caused the hold-up allegedly flew out in a helicopter. People missed serious appointments and functions while in that glitch.” An anonymous fellow, who witnessed it also thundered: “The irresponsibility of the miracle pastors is becoming unbearable.

How can someone bring people here to block a major highway? I missed the appointment I was travelling for. Since then, I swore never to follow anybody to such programmes again. I trekked for more than hours, yet, I did not reach my house.”

Oyakhilome

RCCG Camp

Olukoya

Jammed Lagos-ibadan Expressway during a vigil programme

For Muslims, the month-end vigil sessions usually start by 9 p.m. By quarter to midnight, the chief Missioner (Imam) would ask everybody present to go and perform ablution (washing of hands and legs). He would then start praising God and beseeching His blessings upon Prophet Muhammad, urging those who have left the comfort of their homes to observe the night, seeking the bounty of Allah here in the ephemeral and His mercy and forgiveness in the hereafter. The shouts of Laa ilaaha illa-llahu, Muhammadu Rasuululah (There is no other God but Allah; Muhammad is His messenger) will then take over the night. By the time the vigil takes off by midnight, the shouts of joy of those present could literally be heard in Mecca and Medina. This is followed by the recitation of the Holy Qur’an and chanting a range of Qur’an invocations from Istighfar, Tahzil, Talunid to Salaat alan-Nabiyyi. The congregation, led by the Iman, also observes a number of rakats (prayers).

It is believed that such vigils allow for

the dispatch of thousands of angels into the world to say Amin to the supplicating prayers being offered. The Muslims also observe a special vigil every last 10 days of the Holy month of Ramadan, known as the Holy Night of Majesty (power), called Laylatul-Qadr. It is done to seek the face of Allah for blessing and forgiveness. In Islam, vigil is usually referred to as Tahajjud. The Holy Prophet Muhammad was said to be specific when he instructed Muslims to observe it, but not a must for everyone.

Agonies on Lagos-Ibadan Expressway persist unabated But, the agony experienced on the Lagos-Ibadan Expressway where there is a cluster of religious congregations in 1999 and 2006 is still evident today. In fact, first and last Fridays of every month remain dreadful to those who ply that axis. Those that live within that neighbourhood and travellers in and out of Lagos are usually held up on those periods in a total standstill for many hours, spending greater

Oniye

part of their journey on the Expressway.

The gridlock usually stretches to the metropolis, locking up all access roads and making life of both Lagosians and other Nigerians alike quite miserable.

These vigil venues of miracle workers have, indeed, being causing sorrow to people because of problems of congestion, stealing of property and loss of life. Many have died in road accidents on their way to the Camps or on their way home after the prayers. Others have lost highly valuable and precious property to robbers. Cars are also stolen on the Campgrounds.

Stealing has, indeed, become the hallmark of many of such vigils. While prayers are going on, the women in particular, will leave their bags, handsets and even their toddlers. It is in this hectic period that those who come to steal would CO NTINUED O N PAGE 24

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Sanctity of Truth

Monday, July 21, 2014

‘Some indulge in unwholesome acts during prayers' CONTINUED FR O M PAGE 23

perpetuate their act. There have equally been stream of stories of missing children at the vigils.

But, are these Pastors and Imams truly miracle workers? Or is the presence of such eminent people up the faith of the lowly in the Pastor’s and Imam’s ability to heal them of their illnesses or solve their problems? Some people say yes, while others say no. it is really hard to say. Try as this reporter could, he was unable to meet anyone, who was prepared to dismiss as fake or fraud, the men of God’s claims of providing miracles and succour to those that are in need.

However, there are people, who allege that some hide under the shadow of attending vigils to sleep around and has caused cracks in many marriages. It is equally alleged that women, who are barren use that avenue to sleep around, especially if they suspect that their husbands have been confirmed impotent. Same goes to men, who, according to investigations, tend to be more interested with things under the skirt than the true word of God. The fear of others about these programmes stems from poor security, accommodation, transportation and health facilities. In fact, it is being feared that over-congestion could cause a repetition of the stampede, which resulted in loss of many lives during the Reinhard Bonnke crusade by the German evangelist in Benin City, capital of Edo State in September 1999, which was attributed to poor planning by the organisers.

The media is replete with other tale of woes. Some time ago, an incident was reported at the Maryland area of Lagos State where a group of Nigerians were said to be having vigil. The participants of the ill-fated all-night prayer were found dead the following morning with no one to explain the cause of the incident. But, investigations later revealed that the victims suffocated to death inhaling poisonous carbonated air emitting from the generator that the church left on till morning.

Samson Togun, who worked with Parmadeko, a pharmaceutical company also on Lagos alongside 25 other Christians from different denominations were

Mercyland Prayer City, Lagos-Ibadan Expressway

equally reported to have cheated death when armed robbers attacked them during a vigil. Four armed young men had invaded the prayer house located in Agbado Ijaiye by 2 a.m. after gaining entrance through the store. On hearing a heavy sound while the vigil was going on, the pastor had to stop the prayers and instructed one of his members to check who was by the door. His fears was confirmed when the messenger returned with the news that the visitors were robbers.

“We quickly made contact with the police but they did not respond till the robbers gained entrance. After gaining entrance, they made away with five wristwatches valued at N150, 000 and N300, 000 cash. They also wounded three members of the church by hitting iron rod on their heads,” said a source close to the church, who said he was at loss as to why such should happen to Christians.

However, Sheik Habib Abdullahi, Rector, Murka Arabic and Islamic Training School, Agege-Lagos does not seem to believe in the gathering of Muslims in a place or Mosque for Tahajjud. Abdullahi is of the opinion that Tahajjud should be done individually and quietly. “Allah told Prophet Muhammad in Surat 17 part 15 verse 78 to perform Assallatu from midday till darkness of the night and recite the Qur’an in the early morning prayers and in some parts of the night. The injunction was meant to be observed individually and not collectively as it is done nowadays,” Abdullahi said.

But, Alhaji Abduluwahim Ibrahim, the Imam of the Oluwakemi Central Mosques along Onibeju Street in Shangisha Magodo GRA, Ketu-Lagos tend to disagree with Abdullahi when he told our reporter that vigil issue is a command from the Almighty Allah and it has a divine connotation in Islam.

“God said that in part of the night you are required to hold vigil so that your God can elevate you in a very high esteem. Also, you are to choose a very good portion of the Qur’an to recite very well in holding a vigil. In Islam, there are two kinds of vigils. The prayer vigil that has to do with standing and bowing.

The supplication vigil, which involves sitting down and doing some praises to God after which you intercede on behalf of yourself, your family, the nation and any supplication you need to make or do to God. And this has always been the format through which Islam have been conducting their vigils,” the Imam said.

Government should regulate vigil activities on the Expressway Ibrahim, however, said that religious leaders have a lot of role to play in this instance, because “they are not leading according to the injunction and dictates of God. Also, government should look for a way to regulate the activities of those that hold their vigils on the Expressway. It should create a good and well organised parking space for cars that are coming in for the programmes as well as monitor individuals on how

Bonnke in one of his crusades in Benin City, Edo State

Faithful gather at NASFAT Campground

they move whenever there are services.”

Like Ibrahim, Venerable Olugbenga Oniye, Vicar of St. Peter’s Anglican Church, Abule Egba, Lagos also said there is a spiritual expectation by every church to keep a vigil.

“Put it this way, God does not sleep or slumber, your enemies, powers and principalities; not that they are gone, but they are in their quest or effort trying to achieve their own goals. They hardly sleep; you can imagine it’s just like armed robbers, who can’t sleep because at 12 midnight, they would be planning and strategizing on how to go for operation.

They are all on the same frequency all over the world and, of course, that has made it a necessity for every church to put in place, maybe monthly, a vigil to set up their counter-attack with God, who does not sleep or slumber. But, it is usually by revelation or through vision through which an assembly of vigil can be called. If God reveals to anyone that the church must come together, there must be an assembly tonight to pray for the nation, family or church, as long as it is a directive from God, the church must obey. The pastor can also through revelation, through message call for a vigil. So, it’s not something that can be overlooked; it can be called up anytime,” Oniye said.

Yet, His Eminence, Dr. Ola Makinde, former prelate of the Methodist Church of Nigeria says, “all that glitters is not gold.” Though, agreed that vigil is Biblical, Makinde believes it should not be taken to the level of putting on a show that glorifies man instead of God. “Vigil is in the Bible. Christ prayed all through the night, and so, vigil is part of our Christian life. You know there is quietness there; nobody disturbs you. You also concentrate more on God when you are doing vigil. Any prayer you do under the denial of the flesh will be answered.

It’s not only necessary, it’s imperative.

It’s part of our prayer life. But, I would not subscribe to the type being organised by those who commercialise religion,” Makinde said.

• Additional report from Bisola Tiamiyu and John Edu

BUSINESS Sanctity of Truth

Monday, July 21, 2014

Monday, JULY 21, 2014

What's news Why Nigerian airlines are collapsing A former member of the House of Representatives, Ibn Na'Allah, has carpeted the government for the awful situation Nigerian airlines have found themselves.

}p-26

As the 239th meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) holds this today and tomorrow in Abuja, issues of interest rates, monetary stance across advanced economies; rising inflation and global inflation, growth in the emerging market and developing economies will be on the front burner.

}p-26

Nigerian cement market growing, says RenCap The Nigerian cement market continues to grow strongly, with volumes at the end of FY13 reaching just under 22 million tonnes per annum, representing a 9.6 per cent Compound Annual Growth Rate (CAGR) over the past 10 years.

}p-31

NAICOM recovers N128m disputed claims

As part of measures to inject sanity into the insurance industry, the National Insurance Commission has again boosted the confidence of policyholders through its recent intervention in claims disputes involving some insurance companies and their clients.

}p-36

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) Godson ikoro , Asst. Editor (Money Market) JONAH IBOMA, ICT Editor DAYO ADEYEMI, Property Editor ADEOLA YUSUF, Energy Editor

NEW TELEGRAPH

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manpower, says expert }p-42-43

ayodele aminu, Deputy Editor, business

ayodele.aminu@newtelegraphonline.com ayodeleaminu@yahoo.com

FG spends N1.94tr on fuel subsidy in two years FACE-OFF

Inflation, interest rates rule MPC meeting today

Maritime lacks skilled 25 BUSINESS | BRANDS & ADVERTISING technical, management

The wrangling between the Senate and FAAC over subsidy removal worsens

Mulls subsidy stoppage from 2015 budget

Adeola Yusuf

T

he Federal Government’s two-year budgetary spending on fuel subsidy payment will hit over N1.9422 trillion

by December, investigations by New Telegraph revealed at the weekend.

This came just as a Presidency source told this newspaper that there are plans to stop the yearly budget of an average of N971.1 billion on fuel subsidy payment in the 2015 budget.

The Federal Government has a budget of N971.1bilion for fuel subsidy payment in the 2014 fiscal year, same as 2013.

“Government is not happy that such an amount is budgeted yearly for subsidy whereas such an amount can be channeled to sectors like health, education, road construction and others for development. We are only handicapped for now because of the political implication of this action, but I can tell you that the 2015 budget may not contain

Faith Tuedor-Matthews, GMD/CEO, with Alhaji Gambo Ahmed, Board Chairman, Mainstreet Bank Limited, during the bank’s Annual General Meeting at the Intercontinental Hotel, Victoria Island, Lagos.

such budgetary expenditure,” he said.

“Already there is a study, commissioned by the Presidency, which will detail the best modus operandi for the process of

subsidy removal,” he explained.

Minister of Petroleum Resources, Mrs Diezani AlisonMadueke, had earlier disclosed that the payment of subsidy was no longer visible.

ance policy.

The prevailing circumstance indicates that an eventual loss of such business to fire, flood, theft or any other insurable risk suddenly brings the beneficiary to square one and a loss to government since collaterals were not provided in the first place for the grant.

The main objective of the programme is to generate jobs by encouraging and supporting aspiring entrepreneurial youth in Nigeria to develop

Mrs Alison-Madueke said at the Nigerian Oil and Gas (NOG) Conference in Abuja, that the vision of subsidy payment had been defeated.

To the minister, the scheme was for the poor but it is only the rich and super-rich that are benefitting from it.

Meanwhile, the Senate and the Federation Accounts Allocation Committee (FAAC), a forum of Commissioners for Finance of the 36 states of the federation, continued to bicker over government’s plan on subsidy removal.

The Senate had unanimously rejected the recommendation of its Committee on Finance that subsidies on petroleum products be totally removed. But the FAAC described the Senate’s retention of subsidy as a fraud against the country.

Senate President, David Mark, had, in his remarks after the Senate had rejected the proposal for subsidy removal, said: “If we sit here now and say ‘re-

CONTINUED ON PAGE 26

CONTINUED ON PAGE 26

YouWin: FG’s N9bn grant at risk over insurance default NATIONAL CAKE Most beneficiaries see the grants as part of their national cake Sunday Ojeme

T

he failure of most beneficiaries under the Federal Government’s Youth Enterprise with Innovation in Nigeria (YouWin) to insure their investments has put part of the N9 billion earmarked for

the programme at risk in the event of accidental losses.

New Telegraph’s findings among some Lagos-based beneficiaries revealed that none of them who have fully opened shops, has any form of insurance policy to protect their business.

A random survey conducted across the state revealed a number of business neophytes, who expressed similar views about insurance and only see the grants as part of their national cake with the belief in divine protection for the business other than purchasing insur-

WOLE SHADARE, Aviation Editor DELE ALAO, Brands/Marketing Editor CHRIS UGWU, Capital Market Editor Abdulwahab Isa, Finance Editor Chuks Onuanyin, Energy Nnamdi Amadi, Reporter JOHNSON ADEBAYO, Asst. Production Editor

Rates Dashboard INFLATION RATE June 2014................................8.2% May 2014....................................8% April 2014.................................7.9%

LENDING RATE

EXCHANGE RATE

(Parellel As at July 18)

USD . . . . . . . . . . . . . . . . . . . N167.50 InterBank Rate . . . . . . . . . 10.50% Pounds . . . . . . . . . . . . . . . . . . N290 Prime Lending Rate. . . . . 16.93% Euro . . . . . . . . . . . . . . . . . . . . . N228 Maximum Lending Rate..25.83% • Foreign Reserves – $38.43bn as at 18/07/2014

EXCHANGE RATE

(Official As at July 18)

USD . . . . . . . . . . . . . . . . . . . N155.73 Pounds . . . . . . . . . . . . . . . N266.35 Euro . . . . . . . . . . . . . . . . . . N210.64 Source: CBN

26 business | NEWS GROWING DEBT Their industry’s debt profile is estimated at over N500 billion Wole Shadare

A

former member of the House of Representatives, Ibn Na'Allah, has carpeted the government for the awful situation Nigerian airlines have found themselves.

Na'Allah, who spoke to New

Sanctity of Truth

Monday, July 21, 2014

Why Nigerian airlines are collapsing, by Na'Allah

Says remodeling is misplaced priority Telegraph at the weekend, stressed the need for government to assist the nation's airlines because of the strategic role they play in the economy.

He also chided government for not creating an enabling environment for the carriers to flourish, urging the former to take a critical look at the latter

L-R: Executive Director, South South, Skye Bank Plc, Mrs Ibiye Ekong; Registrar, Nigerian Institute of Management, Mr Mohammed Sulaiman; Deputy Managing Director, Skye Bank Plc, Mrs Amaka Onwughalu; and President, NIM, Dr. Nelson Uwaga, during NIM team visit to Skye Bank in Lagos.

Godson Ikoro

A

s the 239th meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) holds this today and tomorrow in Abuja, issues of interest rates, monetary stance across advanced economies; rising inflation and global inflation, growth in the emerging market and developing economies will be on the front burner.

Specifically, the CBN, according to analysts, is expected to leave interest rates unchanged for the 17th time in a row as it tries to balance controlling inflation and supporting the naira with fostering growth For instance, analysts at Financial Derivatives Company (FDC) and Reuters have forecast that despite the fourth consecutive increase in the rate of inflation, it will not lead to a change in the monetary policy stance at the on-going MPC meeting.

This meeting will be the first chaired by new CBN Governor, Godwin Emefiele and will be closely watched by foreign investors and analysts.

Inflation, interest rates rule MPC meeting today YouWin: FG’s N9bn grant at The former managing director at local Zenith Bank had promised to seek a gradual reduction in borrowing costs, which have been stuck at 12 per cent since late 2011.

That is much higher than 5.75 per cent in South Africa, which Nigeria overtook to become Africa's largest economy earlier this year, and 8.50 per cent in Kenya.

Investors perceived his comments to mark a reversal of the hawkish policies implemented by his predecessor Lamido Sanusi that were credited with curbing inflation and supporting the currency, and sold bonds and the naira.

Emefiele has since said that he would wait until after presidential elections next year before making any rate cut, and all 20 analysts polled by Reuters in the past week expected the MPC to keep the benchmark rate steady at 12 per cent.

At the last meeting, global inflation was generally expected to remain subdued in 2014 with sustained sizable negative output gaps in the advanced economies, weaker domestic demand in several emerging economies, and falling commodity prices.

Inflation had remained within the indicative benchmark target range of 6.0-9.0 per cent during the first four months of 2014. On a Year-onyear basis, however, headline inflation inched up to 7.9 per cent in April from 7.8 per cent in March 2014.

Food inflation, which was 9.3 per cent in January, declined to 9.2 per cent in February and slightly increased to 9.3 and 9.4 per cent in March and April, 2014, respectively. Core inflation, which declined to 6.6 per cent in January, increased to 7.2 per cent in February, and rose further to 7.5 per cent in April, 2014.

FG spends N1.94tr on fuel subsidy in two years C O N T I N U E D F R O M PA G E 2 5

move subsidy,’ I think those who are benefitting from the subsidy regime are very powerful and tomorrow, they will influence media report and twist it to create an impression that the Senate is anti-people.”

But the Chairman, Forum of Commissioners for Finance of the 36 states of the federa-

with a view to rescuing them.

Nigerian airlines are in financial dire straits with many of them going into extinction a few years after they begin operations. Their entire debt profile is estimated at over N500 billion.

The list is endless. The airlines that have gone under came with so much promise. A few years after flagging off service, they inexplicably go under.

Na'Allah who is also a pilot with Private Pilot Licence (PPL) said: “Like I have always said, where is Sosoliso, ADC, Dasab, Chanchangi and EAS Airlines among others? They have all gone. The question to ask is ‘is the operating environment conducive enough for the survival of these airlines? The answer is no and that is what we want government to look at.”

On the drastic reduction in airfares by indigenous operators, Na’Allah explained that fares are dictated by many factors, which vary from time to time.

He described the ongoing remodeling project in the country’s aviation industry as a misplaced priority by government, saying that rather than focusing all its energy on the project, government should have put more efforts in the procurement of more safety gadgets for most of the airports in the country.

He said: “I always try to restrain myself from talking about the remodelling issue for many reasons. One, I do not want to be seen on record for hailing something I know is not correctly done, but that an effort is being made to shift from where we were to a more modernised setting is a commendable effort. Unfortunately, in the process, we had a lot of problems, which is normal.

“The priority given to remodelling, ordinarily, if you look at the status of this country, should have been taken elsewhere. Let me give you an example, Ilorin Airport has one of the worst weather problems with low cloud every morning. If you put an Instrument Landing System (ILS), into that airport, it’s better than remodeling.

Ibadan is an important alternate airport to Lagos, if you put an ILS there, it is better than remodelling and you are helping the issue.

“I have always said it, passengers must first of all land safely before they begin to look at where they will stand whether they are comfortable or not. So, safety being a critical factor in the aviation industry, when you are doing a project, you should priotise along that line. This is the only observation that I see that is being done wrongly.”

tion, Mr Timothy Odaah, described the payment of fuel subsidy as a fraud against some states, especially the less-industrialised ones, and likened it to a case of “robbing Peter to pay Paul.”

Odaah corroborated Mrs Alison-Madueke’s view, stating that subsidy must be removed since the purpose for which it was established had been defeated.

A report of the 12-man committee on the review of the subsidy regime is still being awaited.

The committee, which was set up three months ago to review the impact of subsidy on the Federation Account, is made up of six members from the commissioners’ forum and six members from the Accountants-General Forum.

risk over insurance default C O N T I N U E D F R O M PA G E 2 5

and execute business ideas that will lead to job creation.

The programme will provide aspiring youth with a platform to showcase their business acumen, skills and aspirations to business leaders, investors and mentors in Nigeria.

Minister of Finance, Dr Ngozi Okonjo- Iweala, had said that the programme targeted 80,000 to 100,000 jobs to be created through the initiative.

One of the beneficiaries, Mrs Yetunde Emmanuel, whose banker-sister secured the grant on her behalf, said that she had never given insurance policy to protect her business any thought while investing the money.

Emmanuel, who expalined that her sister’s original intention for applying for the N8 million grant was to set up a small factory for producing yoghurt, said that she changed her mind and opted for sachet water because yoghurt would have been too tasking and more financially-demanding.

She said: “The business has been going on well although one cannot rule out some challenges. My sister gave me about N3 million with which I put up this little place. She also said that the balance would be paid with time.

“The major problem we are

having here now is the threat of flood taking over everywhere.

This place was set up during dry season so, we never anticipated this level of flooding.

For two weeks now, we have not done anything. Whenever it rains, flood streams into the packaging section and as a result, the workers find it difficult to do much.”

Asked if she was not scared that flood could eventually take over the whole area, thereby running into a complete loss, the 32-year-old mother of three, said that she did not see that happening. She said that even if it happened, she would plough the remaining part of the grant into the business.

She said: “I would rather manage things myself than hand money over to an insurance company. The story about insurance is not palatable and I don’t want to be a victim. I am yet to see anybody that I know whose business was fully restored by insurance company.

Moreover, I believe nothing serious will happen. The business will grow with time.”

Another beneficiary, Mrs. Lillian Edokpayi, a jeweler, said that since the Federal Government that gave out the grant did not tell her about insurance, there was no reason the thought would have arisen while thinking of what to do with the money.

YOUTH CULTURE

MY CITY, MY WORLD (BALOGUN)

Photos posted on Instagram by young residents of Surulere, Yaba and Mushin axis of Lagos last week.

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FEATURE (LOVERS’ HAVEN)

Lagos is a land of opportunities, for the wise - Balogun

Hidden under the Anthony flyover, Shodex garden is a haven for lovers

The Mega City

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Lagos generates 69,000 jobs from tree planting

Oluwatosin Omoniyi

W

hen the popular Tejuosho market in Yaba area of Lagos State was shut after a ravaging fire outbreak five years ago, those who owned shops in the complex were devastated, having lost huge sums of money and items. Some went back to their villages, some became hypertensive, while some lost their lives. Many fizzled out of business permanently.

Now, out of the ashes of what was burnt five years

Muritala Ayinla

L

agos State Governor, Mr. Babatunde Raji Fashola has disclosed that over 69,000 new jobs have been created through the tree planting initiative.

The Governor added that what some uninformed political opponents earlier termed as elitist and cosmetic project has developed the state’s economy through creation of new jobs, saying that between 2008 and 2013, a total of 28,094 jobs were created from the annual tree planting exercise of the state.

Speaking at the 2014 Tree planting exercise with the theme, ”Life is better with Trees”, which took place at Cardinal Olubunmi Okogie Road, Sangotedo Area of EtiOsa Local Council Development Area, the Governor said between January and June this year, 3, 180 jobs were also created.

According to the Governor, the new jobs came from maintenance of nurseries, supply of seedlings, planting of trees and maintaining them, adding that for people in this category who are ordinary people, the new jobs have become life savers.

He stated that in terms of landscaping gardening and maintenance of several parks and gardens in the state, 51 direct labour horticulturists who designed the parks and help in planting have been hired while 10 major contractors have been engaged in the process.

He also said at all the parks and gardens, 5,000 plumbers have been hired and are responsible for installing all the water systems at the parks and gardens and ensuring the optimum workings of the sprinklers just as another 6,256 electricians have got new jobs by maintaining the lights, the solar panels and power pumps at the various gardens.

According to him, 12,512 bricklayers have also got new jobs to construct the concrete kerbs and interlocking blocks at the gardens in addition to 15,640 gardeners who work in the parks and gardens. He explained that the tree planting initiative has also created new 2,496 jobs for those who paint the grill while another 14,686 welders have been gainfully engaged at the various parks.

During the period under reCONTINUED ON PAGE 28

MONday, JUly 21, 2014

...for the love of Lagos

This is an advert space for hotels

Edited by: BIODUN DUROJAIYE

Tejuoso market opens

for business October lHas 1,692 lockup shops lCar park takes 586 vehicles

ago has risen a world-class market complex, with every conceivable modern facility.

It is known as ‘New Tejuosho Ultra-modern Complex Two’, and it will open for business

CHANGING LANDSCAPE OF LAGOS

in October.

By then, the new Tejuosho market will start playing host to full blown business activities, according to Comfort Oluwadairo, the Sales and Marketing Director of the CONTINUED ON PAGE 27

Physically challenged students to get learning tools Muritala Ayinla he Lagos State Government Tvide has said it would soon prolearning equipment for

FACT FILE Building: Civil Centre Towers Location: Ozumba Mbadiwe Street, Victoria Island Type of Development: Office Complex Owners: The Civic Centre Contractor: Cappa & D’alberto Plc Architects: Interstate Architects Ltd. Structural Engineers: Ove Arup & Partners Ltd

Photo: Suleiman Husaini

Ajah land ownership tussle: Court affirms contradictions in traditional history Joseph Onyekwere

T

wo years after Justice B. Oke-Lawal of a Lagos High Court delivered a judgment in favour of Chief Fatai Abio-

dun, the Olumegbon of Lagos and the overlord of Ajah and Okun Ajah, a Court of Appeal sitting in Lagos has upheld that decision.

The court adjudicated in

the Ajiwe land tussle and said that the evidence of claimants in proof of traditional history was contradictory.

In the lead judgment, JusCONTINUED ON PAGE 28

pupils with physical disabilities, reiterating its commitment to all-inclusive education policy for all pupils in the state.

Speaking at the 2014 Stakeholders’ Forum of the Advocacy Committee on Special Education Matters, the Commissioner for Education, Mrs Olayinka Oladunjoye who made the disclosure, said the equipment would be provided in phases to aid learning for the special children.

She said: “We are going to do it in phases, the fist phase will be done this year.

The phase one is going to have basic equipment for those that are physically challenged, those that have hearing and visual impairment.

The equipment will be ready for them this year. This will also include the right training for the teachers as well.

“We have an advocacy committee. We now have draft policy. We will look at how implementable their recommendations are. We are concious of the needs of our special

CONTINUED ON PAGE 28

IN NUMBERS 906

the number of primary schools in Lagos State

859,456

the number of pupils in the 906 primary schools in Lagos State

5

the number of Technical Colleges in Lagos State

28 NEWS /MEGA CITY

Tejuoso market opens for business October CO NTINUED FROM PAG E 27

Tejuosho Property Development Company (TPDC).

The Lagos State government awarded contract for reconstruction of the market to TPDC, who worked hand-inhand with a team of architects, engineers and builders.

The contractors have transformed the ashes of the old Tejuosho market into a new, beautiful ultra-modern world standard complex.

Already, the developers have embarked on aggressive marketing to get buyers for shops in the complex. Passing through Yaba, one is bound to experience some form of this aggressive marketing in form of very loud music blasting from the huge complex. And young men and women, distributing flyers to passers-by. The music, according to Oluwadairo, is to attract passers-by and a sort of advert to potential customers.

Traders who have bought shops are eager to have a feel of the beautiful arena. Sholape Olaoni, a shop owner, said she was able to own a shop through the mortgage facility the developers (also the marketers) put in place.

“I am ready to commence my clothing business, after the harrowing experience I had during the fire outbreak. I nearly died, but I thank God for His grace over me. Lagos state government should please be quick in opening it,” she enthused.

Aina Olukayode, another

shop owner, who also bought through mortgage, is also eager to start her cosmetics business inside the complex. She told New Telegraph “at least, I now have the full confidence of investing large in my business here. I feel covered but they should be quick in opening it,” she said.

Olukayode further described the new market as a properly mapped out and well organised environment fit to do business.

On a tour of the complex with the sales director, New Telegraph observed that the project has a well-equipped fire station and a truck loading and off-loading facility. Others are a police post, a sewage treatment plant and a car park with the capacity to accommodate at least 586 vehicles.

The roof of the complex is flat and reinforced with concrete slab and polycarbonate roof coverings over the voids.

The new shopping centre is occupying the same site as the old market. The main block is a five-storey building (basement, ground and three suspended floors). It has a frame structure on structural grid.

Taking into consideration all the needs and requirements of an ideal complex, natural illumination and ventilation are ensured by the provision of openings and voids on and around the building. Vertical circulation is provided via ample provision of staircases at average distances of 10 meters apart. Two numbers of pedes-

New Tejuosho Market

trian ramps and three numbers of goods or passenger lifts augments vertical movement especially for people with luggage (wheelbarrow, trolleys, carts etc) and the handicapped.

According to Oluwadairo, the new Ultra-Modern Complex’s structure takes into consideration all the needs and requirements of the ideal modern market and promises to adequately meet the needs of the buyer and sellers in terms of functionality, accessibility, ease of navigation

Lagos generates 69,000 jobs CONTINUED FROM PAGE 27

view, Fashola also stated that 2,500 labourers who ensured the clearing of sites were hired in addition to 2,176 security men who were responsible for securing the parks and that three consultants were hired by the state government

to work on the parks and gardens.

He said in the process also 15 graphic artists were given jobs to design the signage and boards that dot the various Parks in addition to 10 sculptors who erected statutes and bust at some of the parks.

The Governor noted

that the list of beneficiaries does not include people like suppliers of curtain materials, lawn mowers and trimmers who are all involved in the process, stressing that the people involved run businesses of theirs with many running sole enterprises.

Learning tools for physically challenged students CONTINUED FROM PAGE 27

students in the inclusive schools, and as government, we have taken it on board to provide them the needed equipment they will require, including the number of qualified personnel they will require.

“This is one leg of the plan to improve the special education, we have a department that is very rich and working hard in that direction. We are sensitising the public especially the parents to bring out their children for education and to tell them that there is ability in disability.”

Harping on theme of the forum entitled: “Making Education Accessible for All in Lagos”, Oladunjoye described the theme as

apt, saying “Anywhere I am, my song is all about showing care for the special students with disability. This government will also give special consideration for the physically challenged pupils.”

She added that the state gover nment also has it as part of its employment policy to consider persons with disabilities, adding that a number of qualified persons with disability had been employed by the state government.

Reiterating the state gover nment’s total commitment to the provision of quality education for all children in the state, Oladunjoye said every school age children irrespective of their financial back-

Monday, July 21, 2014

ground, sex, ethnic affiliation or disability would benefit from all inclusive education policy.

She said God has a reason for giving them children with special needs, stressing that this necessitated the setting up of the Committee on Special Education by the State government to deliberate and make recommendations for the needs of the special children.

The Commissioner pointed out that government will take advantage of the best practice procedure of inclusive schools as observed in the United Kingdom particularly on how to provide the necessary infrastructure and equipment needed by the Schools.

and aesthetics.

She explained in details to New Telegraph that the complex is housing about 1,692 lockup shops which include a major anchor tenant, banks and eateries.

The selling price of the stores varies depending on the size. According to her, “Store sizes range from 10.8m² to 129.6m², however larger space requirements can also be accommodated.

A rental option as well as a mortgage facility is also available,” she said.

The prices are: Shop space Selling @ 600,000/ m²: Type A -10.8 m² [3m x 3.6m] =N6, 966,000.00k Type A2 -21.6 m² [3m x 7.2m] =N13, 932,000.00k Type B -18.0 m² [3m x 6m] =N11, 610,000.00k [SOLD OUT] Type C -39.6 m² [6m x 6.6m] =N25, 545,000.00k Restaurant space selling @700,000/ m²:

Type C1-39.6 m² [6m x 6.6m] =N29, 799,000.00k Type C2 -79.2 m² [6.6m x 12m] = N59, 598,000.00k Type A12- 129.6 m² [7.2m x 18m] =N97, 524,000.00k

Ajah land ownership tussle: Court affirms contradictions in traditional history CO N TI N U ED F RO M PAGE 27

tice Y.B. Nimpar declared that the trial Judge did find that appellant’s evidence in proof of traditional history was contradictory.

Dissatisfied with the judgment of the lower court which ruled in favour of Chief Fatai Abiodun, the Olumegbon of Lagos and overlord of Ajah and Okun Ajah as the traditional owner of Ajiwe land, the appellants, Chief Taiwo Elemoro and Latifu Ajiwe filed a notice of appeal in suit No:CA/L/461/2012 where they both sought for a declaration over the piece of land and perpetual injunction against the respondent.

But the appellate court noted that: “As observed earlier, the trial court found that the appellants failed to prove title by traditional history. The learned trial Judge diligently reviewed the law and practice of proving title by traditional history. The trial court found that the claimants were not consistent in their narration of the history of how their progenitors settled on the land and this offends the principle that evidence at variance with pleading goes to no issue.

“The trial court referred the evidence of claimants and found contradictions.

That is the court with the responsibility of evaluating facts and observing witnesses to determine their credibility. It is difficult to interfere with the findings of a trial court except if it is perverse. Upon the trial court’s finding that the appellants in one breath said they were not tenants and did not get onto the land by grant but were original settlers while in another breath they said the Ogunsemo family gave them

the land to settle on.

“Secondly the court found that the number of years they have been on the land was not settled as one witness said 500 years ago, while another said 250 years ago. This affected the quality of evidence required because it is contradictory. It is deficient to prove title by traditional history as found by the trial court. It is settled that in proving title by traditional history that a claimant traces his roots to the first person who settled on the land. This was not done”.

The appellate court also absolved the trial judge of any fault in the rejection of exhibit I (the report and recommendation of the tribunal of inquiry into Ajah land disputes) that it cannot be relied upon because there was no Lagos state government white paper on it.

The presiding Justice, Nimpar said: “The court admitted the report but placed no weight because of a legal bar to the use of the report. That action of the trial court cannot be faulted.

“The report (exhibit I) having not been accepted by government and the law under which it was made barred its use, it cannot be used or relied upon by the court to ground a finding. It is a standard practice that reports of commission of inquiry be first accepted and the government’s position reflected in a white paper which is gazetted and it becomes a public document that can now be used in a court.

“The exhibit I here is not in that form and having not acquired government’s legitimacy, the trial judge cannot be faulted in that regard. The evidence which by law cannot be used in a proceedings and the refusal to evaluate and use the report by the trial court is

FEATURE / MEGA CITY 29

Monday, July 21, 2014

Shodex garden: Excursion site, haven for lovers Jeremiah Madaki idden under the Anthony bridge, along Ikorodu Road, is a recreation park known as Shodex garden. It has its side view to the Anthony bus stop and the full front view to those coming from Maryland or veering off to the Oshodi Express road.

Ordinarily, one would think it is only a flower garden but the place also serves as recreational and relaxation centre.

What is, however, little known to even those who pass through the area daily is the fact that apart from the beautiful, all green garden, in it is also a mini zoo. In fact, school children use the place as an interesting place of excursion. For adults, especially lovers, it’s a haven of fun.

But the typical of Lagosians who is ever busy and always on the go, hardly cast a glance at this park to appreciate its aesthetic beauty when passing though the area.

Of the very few who

H

claim they do is Oyibo Samuel, who was met passing by the park.

“Shodex garden is not hidden at all, especially when coming from Maryland axis,.. so I knew there is a garden here, though I have never gone inside. But from the outside one can tell of its beauty.”

Mrs. Odogbo Oluwatosin, a teacher from Crown Jewel school who was on an excursion at the garden with her pupils said the garden is great especially to those who understand meaning of relaxation in a cool environment devoid of noise. “Most of all, I love the neatness of the place,” he added.

Pastor Karma Nandaji, who was at the garden with his family and friends to relax and have fun said, “though, this is my first time here, I think I love it, it’s cool.” But the snag for him is that the gate fee of N500 per person, for adults, is bit high.

Enebeli Chukwunweike, manager of the

garden, said gardens and park business flourishes in Lagos due to the green land agenda of the state governor. He said that the state government policy on green vegetation has boosted the establishment of flower gardens.

He explained that gardens are not managed by just a person but as a team, depending on the size. These teams are made up of different individuals, ranging from cleaners, security personnel, horticulturists, receptionists, carpenters and accountants.

Chukwunweike further said the concept of flower gardens originated from the scripture, citing an instance in the Bible indicating that after the creation of the earth God beautified it with flowers and plants for man’s relaxation.

Chukwunweike further said that Shodex renders services to cooperate bodies. Planting flowers for companies, like hos-

Inside the garden (top); from outside (left); pupils on excursion (right).

Photos: Jeremiah Madaki

flashback / THE CITY AS IT WAS

pitals, banks, private homes and maintaining them for the clients.

Carter bridge, undated.

Idumagbo close to Iga Iduganran in 60s or 70s.

Bristols hotel off Broad Street in 60s or 70s.

Kingsway building on Marina in 60s or 70s.

TO PLACE CLASSIFIED ADS IN THE MEGA CITY, CALL TOSIN ON : 0803 804 8375

30 THE MEGACITY

Monday, July 21, 2014

UPCOMING EVENTS

BPP University, UK DISCUSSION SESSIONS Saturday, July 26, 2014 10:00 AM to 4:00 PM Organiser: British Council

Venue:

British Council, 20 Thompson Avenue, Ikoyi, Lagos

Technology Solutions to Improve Elections in Nigeria Wednesday, July 23, 2014

9:00 AM to 5:30 PM Organiser: Co-Creation Hub Nigeria Venue: CcHub, 6th Floor, 294 Herbert Macaulay Way, Sabo, Yaba, Lagos

NICE Teachers & School Heads Workshop

Thursday, July 24, at 9:30 AM Friday, July 25, 2014 at 3:00 PM Organiser: Nigeria International Children Expo (NICE) Venue: Chevron Recreation Centre, Estaport Avenue, Gbagada, Lagos

ActionAid ‘Community Sponsorship’ Launch Thursday, July 24, 2014 10:00 AM to 2:00 PM Organiser: ActionAid Nigeria Venue:

City Hall, Meeting Room 1, Catholic Mission Street, Lagos

YOUTH CULTURE, photos as posted on Instagram (#Surulere/Yaba/Mushin)

#WCW by @ibinetam

See love, I know dear, must be cool having a hawt sis like me by @debillionaireswife

3 months on, lest we forget by @eop.official

Filming with my darling @iniedo by @ funkejenifaakindele

Cultural Day!!! by @enibeb2001

Go go go it’s my birthday by @lindaejiofor

My City, My World

Lagos is a land of opportunities, for the wise – Balogun Oluwatosin Omoniyi r. Dele Balogun, mediM cal director at Shefi Hospitals, and the cur-

rent District Governor of Rotary International, District 9110, is an indigene of Oke Olowogbowo, near Apongbon Balogun area of Lagos Island.

“Though, that area is commercialised now, this is my town,” he said.

Apart from being a Lagosian, he loves Lagosians for their welcoming and accommodating attitude.

“They are fun loving people… Another thing I love about Lagos is because of its aesthetic beauty. It is surrounded by water. I enjoy the cool breeze, the fresh undiluted air whenever I take a walk around the Marina.

“Another attraction for me is Lagos’ special delicacies, like Imoyo (a special stew made with crab), yoyo (a special fish soup) and koko (a light pap).”

According to him, real Lagos life begins on with the Island, otherwise called Isale-Eko. “It’s a lifestyle that words cannot really describe… but one thing that is certain is that Lagosians are fun-loving people. Also, Lagos is a land of opportunities, but only for the wise,” Balogun said.

This assertion probably explains why after his university days, he came back to Lagos from Ibadan to start life. “For me, it’s two worlds that are apart, Lagos and Ibadan. I can’t feel the fun and warmth that is associated with Lagos in Ibadan. Lagos is made of free-minded people who have no time for grudges or malice. They are more of fun people.”

But high unemployment rate and the growing rate of crime among the youths in the state is a cause of concern for him.

He, therefore, urged the state government to provide programmes for the youths that will make them employable so as to keep the beauty and fun of the state going.

In Lagos, you are accepted the way you are – Ukatu Oluwatosin Omoniyi

ME and my Baby Bro by @ada4jonah

Untitled by @ologijo

My strange face! Lol...blessed day by @ ennyworld

Untitled by @dawnkhristie

Mini mee by @shindaramom

LateNightPost....#SoMuchTroubleInThe World by @iam_savanah231

Nobody can give you wiser advice than yourself by @ugochijane

TBT.....Yah Allah,Forgive me when I complain about life by @ms_majek

Untitled2 by @seygunsage

fam Allison Ukatu Arector is the Managing Diof Mallison and

Partners Limited, and has had his vast businesses going on for 16 years in Lagos. Among his several reasons of Ukatu liking Lagos are the seaport and airport. These, according to him, are the main attractions, especially for someone like him who is into trading and manufacturing.

“Lagos has potentials that other states do not have… the seaport makes it possible for me to easily run my business, while the airport provides easy accessibility in and out of the state. You can plan your trip in a day and fly same day,” he said.

In an environment with population over 15 million people, Ukatu feels lucky and blessed with friendly people around him. He said Lagos has people who are open-minded which makes it easy to interact. In Lagos, your opinion matters, you are accepted the way you are.” Ukatu said.

As sweet and interesting as Lagos State is, he said he might consider living outside the city because due to the usual daily traffic logjam. He is not also happy about the cage-like nature of houses in Lagos, which resulted from residents trying to fortify their individual security.

On the lifestyle of Lagosians, he said the typical resident is a party conscious person and an enjoyment freak on weekends. But still, he said the city dwellers spend more hours working, and very few for enjoyment. He also noted that an average resident spends about four hours in traffic.

He advised residents to cultivate the habit of visiting parks, to enjoy the calmness and serenity of the environment.

BUSINESS | NEWS

Sanctity of Truth

Monday, July 21, 2014

31

Nigerian cement market growing, says RenCap GROWTH Consumption is expected to reach 43 million metric tonnes by 2020 Siaka Momoh

T

he Nigerian cement market continues to grow strongly, with volumes at the end of FY13 reaching just under 22 million tonnes per annum, representing a 9.6 per cent Compound Annual Growth Rate (CAGR) over the past 10 years.

Renaissance Capital (RenCap) has forecast that consump-

To reach 43m tonnes annually by 2020 tion is expected to reach 43 million metric tonnes by 2020 (11 per cent CAGR) and Nigeria’s per-capita consumption rate will hit 213 kg by 2020, following the 17 per cent increase from 107 kg in 2011 to 125 kg in 2013.

The research and finance firm, which made these disclosures in its latest report, said: “This would still be lower than comparable countries such as Egypt (554 kg), Algeria (524 kg), Ghana (186 kg), and South Africa (213 kg).”

“The Nigerian cement industry remains in a bullish phase, as investment in capac-

ity continues in response to rapid growth in consumption in a stable-to-strong pricing environment.

“Our outlook for the sector remains positive and we expect sustained earnings growth over the medium term.”

Besides, RenCap said that it expects the influence of imports to diminish rapidly as domestic production continues to grow over the medium term, reaching 60 million tonnes per annum by 2018 (assuming all announced projects are implemented), with the five current incumbents contributing 49 mil-

lion tonnes per annum.

“We believe the risk of excess capacity developing remains low, as our numbers do not account for the possibility of exports to neighbouring countries that currently depend on cement from East Asia,” it said.

Profitability, according to RenCap, should continue to improve and estimates industry margins will peak in 2015/2016, underpinned by stable-to-strong pricing, a tight supply/demand balance and the operational leverage benefits from new plants coming online over the short-tomedium term.

The report argues: “Cement consumption continues to grow aggressively in Nigeria, reaching 21 million tonnes in 2013, representing a 10 per cent CAGR since 2008. This trend appears to have been maintained into 1Q14, judging from the results recently announced by the companies. In this note, we review

the medium-term outlook for the sector in the context of rising investment in production capacity, the rebasing of the Nigerian GDP estimates and the looming elections in 2015.

“We continue to believe the growth potential for the sector remains strong, considering the low per-capita consumption level and the willingness and ability of the Nigerian government to spend on infrastructure. This is underpinned by rising investment in the sector, which in our view implies better product availability over time and adequate returns for players in the sector, particularly if the current legislative environment remains intact.”

It noted that analysis suggests that even after accounting for all capacity announcements and expansion plans, the likelihood of excess capacity remains low, particularly considering that none of the current players has yet begun exploiting the available regional export opportunities.

Transcorp to expand Nigerian hotel, power investments –CEO

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L-R: Vice President & Area Business Head, MasterCard West Africa, Omokehinde Ojomuyide; Executive Director, Operations and Technology, Keystone Bank, Mrs Yvvone Isichei; Division President, Sub Sahara Africa at MasterCard Worldwide, Daniel Monehin and Chief Information Officer, Keystone Bank, Femi Aderibigbe, during a business visit by MasterCard to Keystone Bank.

NEPC partners Elumelu Foundation to raise non-oil exports CO-OPERATION Foundation partners government agency to increase export of agricultural products

A

s part of its mandate to create a more competitive Nigerian economy, The Tony Elumelu Foundation has announced its partnership with the Nigerian Export Promotion Council (NEPC), to help improve Nigeria’s share of the global, non-oil export market.

Under the new agreement, which for a one-year, the Foundation in a statement, said it had provided NEPC with a technical advisor, Maureen Ideozu, through its Elumelu Fellowship Programme. In addition, two associates from the Elumelu Professionals Programme-Lawi Laktabai and Jean-Yves Mutanda are also working with

key NEPC officers to increase Nigeria’s export of agricultural products.

Commenting on this partnership, Mr Olusegun Awolowo, CEO of the NEPC stated: “NEPC is benefiting from the public good initiative of the Tony Elumelu Foundation.

The consistent input from the embedded Elumelu fellow and visiting "masters" interns are of tremendous value to the strategic repositioning of the council. I am very pleased with this partnership as we jointly work towards the socio-economic development of our country and diversification of our economy.”

Among her numerous responsibilities, Ms Ideozu will work directly with Awolowo to increase Nigerian private sector participation in global trade and liaise with the Nigerian Export Processing Zones Authority, the Nigeria Sovereign Investment Authority, the Nigerian Export-

Import Bank, the Nigerian Investment Promotion Council, other government agencies, as well as private sector organisations to implement the NEPC’s strategic plan.

“The Elumelu Fellowship offers me an opportunity to contribute to increased competitiveness in Nigeria by unlocking opportunities for Nigerian companies in a manner that equips them to compete globally,” stated Ideozu.

Dr. Wiebe Boer, CEO of The Tony Elumelu Foundation, said: “Our organisation is committed to implementing solutions that will improve the operating environment for Africa’s private sector.

The NEPC is a key partner in meeting our long-term objectives because it is the Nigerian government’s primary institution for export development and promotion.

This support will unlock substantial export-driven growth opportunities for Nigeria’s fastgrowing SMEs.”

igerian conglomerate Transcorp plans to invest around $110 million to expand its hotel network in Africa's biggest economy as it seeks to tap into a growing market for business travellers, its chief executive said on Saturday.

New hotels are springing up across Africa, despite bureaucratic delays and poor infrastructure, to take advantage of an increasing number of tourists and business travellers, serving a growing middle class.

Obinna Ufudo told Reuters the hotel, which will be managed by the Hilton group, will house 100 rooms and located in an upmarket district of Ikoyi in the commercial capital Lagos.

"We have concluded all

designs ... what we are waiting for is the approval from the state building authority to commence construction," Ufudo said. He said he expected the project to be completed in 36 months.

Industry executives say that as consumer spending stalls in developed markets, more multinationals are betting Africa's growth will eventually translate into meaningful revenue if they can negotiate the considerable regulatory and infrastructure challenges of doing business there.

Transcorp has one hotel already managed by Hilton in Abuja, Nigeria's capital city.

Shares in Transcorp gained 33 per cent this year, after rising 314 per cent in 2013.

Enterprise Bank to cardholders: Secure your cards

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s a way of guarding against the growing number of cyber crimes in the society especially when people use their cards to shop online, Enterprise Bank Limited has called on its MasterCard holders to protect their cards against the trending internet fraudsters by subscribing to MasterCard Secure Code.

A statement from Corporate Communications Department of the financial institution said that Secure Code provides a second level authentication of cardholder when performing on-line transactions. This solution is supported by MasterCard to offer cardholders additional comfort and security of their card details when it is used on-line.

Emphasising on the need for all Enterprise Bank customers to secure their MasterCard by carrying out this simple exercise, the statement explained that when making an internet purchase, the cardholder’s

identity is authenticated at the point of payment before the merchant submits an authorisation request.

The bank said that customers can carry out this exercise from the comfort of their homes or offices by visiting Enterprise Bank website to register all the MasterCard variants including the debit, prepaid (both in dollar and naira) as well as the credit card, among others.

The process of securing these cards has been simplified with the following options.

The first option enables the customer to register the card at the bank’s website by clicking on the MasterCard Secure Code logo on the homepage and answering a few questions. The second option allows the customer to go through a MasterCard Secure Code participating merchant, which will then redirect him to the bank’s page to register the card before payment is made.

32

BUSINESS | NEWS

Sanctity of Truth

Monday, July 21, 2014

Experts differ on proliferation of airports NEW TREND Aside the Lagos, Abuja, Port-Harcourt and Kano airports, virtually all Nigerian airports are grossly under-utilised Wole Shadare

E

xperts have raised concern over the proliferation of airports across Nigeria.

The Jigawa International Airport is the latest to be built by the state government, bringing the total number of airports in Nigeria to 23.

Most of the airports, including the new ones that are springing up, are dormant, owing to lack of traffic.

The Federal Government had committed over N20 billion to rehabilitate and rebuild the Adamawa and Katsina Airports when former Vice-President, Atiku Abubakar, was in the saddle and when the late President Umar Musa Yar’Adua was president.

Aside the Lagos, Abuja, PortHarcourt and Kano airports, virtually all Nigerian airports are grossly under-utilised. These airports, especially the Lagos and Abuja, generate revenue for the maintenance and running of other airports in the country with some recording just one flight a day or none at all.

The total passenger traffic for 2013 for both domestic and international flights was put at over 12 million.

It was a historic moment last week at the Dutse International Airport, Jigawa State, when the first commercial aircraft touched down at the newly constructed Airport.

The aircraft - ATR 72, with registration number 5N-BPG belonging to the Overland Airways, landed on the three kilometre runway at exactly 12:46pm.

The state government said that the airport would be used temporarily thrice weekly for flight operations between Abuja and Jigawa State.

He said that after the patronage has improved, flight operations into the airport would increase to daily.

Governor Sule Lamido said that the first phase of the project gulped N11.5 billon.

He expressed optimism that with the commencement of flight operations, economic activities in the state would receive a boost while agricultural produce from the state would be easily exported to other parts of the country and beyond. The huge costs of maintaining these airports had made the Federal Government to contemplate privatising them. These airports are managed by FAAN. While FAAN is financially constrained to run these aerodromes, several state governments are currently building their own airports.

The states are Akwa Ibom (partly completed); Anambra State Airport to be sited in Umueri (proposed); Bayelsa Airport (Yenogoa); Asaba Airport (not yet completed); Ekiti Airport (proposed); Lekki International Airport, Lagos State (proposed); Minna Cargo Airport (reconstruction proposed); Ogun State cargo Airport (proposed).

Others are Osun State Airport, Ido Osun (under construction); Jalingo Airport, Taraba (under construction); Zamfara Cargo Airport and Gusau (proposed).

Aviation analyst, Olumide Ohunayo, told New Telegraph that time will tell whether all proposed airports will be built eventually.

He, however, said that a national master plan should be developed to ensure the economic viability of the existing and new airports. Building an airport seems to be one of the most popular prestige projects a Nigerian state governor can think of nowadays.

Raising some posers, Ohunayo said: "Does the growth in passenger and cargo volumes justify this infrastructure expansion? Have there been environmental studies carried out at all these proposed airports as well as those under construction? Public consultation often

Interbank rate unchanged for second straight week

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igeria's interbank lending rate was unchanged for the second straight week at an average of 10.50 per cent last Friday, supported by ample liquidity as the Central Bank of Nigeria (CBN) held back issuance of fresh open market operation (OMO) bills.

The apex bank, according to Bloomberg, has not issued fresh OMO bills for the past one week despite further boosting liquidity in the banking system by paying off about N114 billion ($704 million) in matured treasury bills last Thursday, dealers said.

Dealers did not have access to their credit balances with the CBN owing to a system glitch at the regulator, but say

excess liquidity had kept rates down.

The open buy-back (OBB) rate was flat at 10.50 per cent, 1.50 percentage points below the CBN's benchmark interest rate of 12 per cent.

All 20 analysts polled by Reuters in the past week expected the CBN to keep rates steady at 12 per cent at its next policy meeting tomorrow.

The overnight placement rate was also unchanged at 10.50 per cent, the same level as penultimate week.

Dealers expect lending rates to ease further next week with a liquidity boost from government revenue disbursements to its agencies set to hit the banking system by Monday.

is lacking in these grandiose schemes.”

A former Assistant Secretary General of Airline Operators of Nigeria (AON), Mohammed Tukur, said that he hopes all these airports come up really soon.

“Fact is some might not really be viable economically but if general aviation in Nigeria is encouraged, then who knows?

There can never be too many airports in my opinion but if the public is encouraged to own/rent private general aviation aircraft, that is Cessna’s, among others, then there just

might be an opportunity here.

“I agree with some people about the need for more airports. However, these new facilities should be backed up with real economic growth programmes by each state, otherwise they’re building more ghost, underutilised airports for the poor masses to stare at,” he added.

An airline operator, who spoke on condition of anonymity, stated that he believes that some of the airports in the oil producing states are quite essential for the growth of this

vital industry.

He added that in the North, airports substitute as an alternative for the elites to visit distant places without staring at the appalling roads they and the Federal Government have refused to rehabilitate.

“Although the roads in the south are in worse state of disrepair than in the north, the fact is that while most airports in the north are for political consideration, the states and oil companies build the ones in the south for growth of business,” he explained.

L-R: Deputy Managing Director, Dana Group, Gautam Hathniramani; Delegate, Kia Motors Corporation, JongKim; Group Managing Director/CEO, Dana Group, Jacky Hathiramani; representative from Korea, Gcoak Ko and Chief Commercial Officer, Dana Motors, Sandeep Malhotra, at the media launch of Kia Motors ultramodern showroom in Lagos.

Fitch rates Nigeria’s Seven Energy ‘B-(EXP)’ Ranking earns company $255m equity placement BUDGET The company plans to use proceeds from the notes to refinance some of its existing indebtedness Adeola Yusuf

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lobal rating agency, Fitch Ratings, has assigned Seven Energy International Limited (Seven Energy) a long term Issuer Default Rating (IDR) of ‘B-(EXP)’ with a Stable Outlook.

The IDR takes into account a $255 million equity placement and assumes a successful issue of dollar-denominated notes and repayment of certain existing debt, the global news agency, Reuters reported last Friday.

Fitch has simultaneously assigned Seven Energy Finance Ltd’s proposed secured notes an expected senior secured rating of ‘B-(EXP)’ and a ‘RR4’ Recovery Rating.

“We forecast that in 2014-2017 Seven Energy will maintain funds from operations (FFO) net leverage of 3x or below, commensurate with a mid-‘B’ category rating,” the global rating agency said.

The proposed notes will benefit from guarantees and security from the parent company and many companies holding economic interest in the main oil-producing assets (Oil Mining Leases (OMLs) 4, 38 and 41) under the Strategic Alliance Agreement (SAA) contract and a gas production asset (Uquo Field).

Revenues under the SAA agreement represented 100 per cent of the company’s EBITDA in 2013.

The notes benefit from a separate security package under the Accugas II and Accugas III project finance facilities, which are secured on the property and assets associated with the gas distribution part of the business, which is currently in its early stages. The Accugas facilities benefit from an unsecured guarantee from Seven Energy and in our recovery analysis we have assumed that they will rank at least pari passu to the proposed secured notes in any restructuring scenario.

The company plans to use proceeds from the notes to refinance some of its existing indebtedness and to improve its capital structure and liquidity.

The assignment of a final IDR is subject to the confirmation of the size of the notes issue as the repayment of the

upcoming maturities is key to maintaining the company's adequate liquidity position.

The assignment of a final rating for the notes is also contingent on the receipt of final documentation substantially conforming to the information already received.

The notes include a crossdefault provision, restrictions on dividends and limitations on additional indebtedness such as total amount under other credit facilities not to exceed $450m or 20 per cent of adjusted net tangible assets.

Seven Energy is an integrated indigenous Nigerian oil and gas company focused on onshore oil and gas upstream and midstream (gas processing and pipelines) in Nigeria (BB-/ Stable).

It is currently developing a number of gas assets in SouthEast Niger Delta. In 2014, it started delivering natural gas to a local power station and acquired a contract supplying gas to an industrial consumer.

Both are under long-term fixed-price take-or-pay contracts. The company expects to expand its gas business over the next two years, particularly with the addition of another local power station as a customer that is expected to commence consuming gas by end-2014.

BUSINESS | BANKING 33

Sanctity of Truth

Monday, July 21, 2014

Edged out bank CEO’s stage a comeback Godson Ikoro

ed risk management and flagrantly disregards corporate governance.

Some founders and veteran CEOs or the double rank of Chairman and Managing Directors, continued to run their banks like their personal wallets irrespective of whistle blowing of the regulator. As Soludo put it “the papa and mama banks granted loans without recourse to the board of directors, which were then reduced to rubber stamp institutions.”

T

he return of Mr Jim Ovia, founder and pioneer Managing Director/ Chief Executive of Zenith Bank PLC to the bank as Chairman and non-Executive Director last week elicited the interest of market watchers and analysts, who had to revisit the policy that edged Ovia and some of his colleagues out of office a few years ago.

The consensus, New Telegraph gathered last week, was positive and in praise of Professor Chukwma Soludo, who made the rule and the Emir of Kano and former Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi, for enforcing the 10-year tenure issue with the seriousness it deserves.

Ovia had to relinquish the Managing directorship of Zenith Bank as a sequel to the CBN code of corporate governance, which limited the tenure of bank chief executive officers to a maximum of 10 years.

Specifically, the code states: “The CEO of a bank shall be in accordance with terms of engagement with the bank but subject to a maximum period of 10 years.

Such periods may be broken down into periods not exceeding five years at a time.”

Besides, it states that "such a CEO shall not be elegible for appointment in any capacity in the bank or its subsidiaries until after a period of three years following the expiration of his tenure as CEO." Also affected by the policy were Mr Reginald Ihejiahi, former MD/CEO of Fidelity Bank Plc, Mr Tony Elumelu, former Group Managing Director/CEO of UBA; Mr Aigboje I. Aig-Imoukhuede, f0ormer Managing Director/CEO, Access Bank Plc and Mr Akinsola Akinfemiwa, former Managing Director of Skye Bank, among others.

Ovia Ovia is the promoter and founder of Visafone Communications Limited. He is also the proprietor of the University of Information and Communication Technology, Agbor, Delta State. He served as the Pioneer President of Nigeria Internet group (NIG). He has over 23 years of bank experience. He was a Co-Founder of Zenith Bank and served as its Group Managing Director and Chief Executive Officer from 1990 to July 10, 2010, when he was also compelled to retire in line with the CBN code of governance. He served as the Chairman of Quantum Luxury Properties Limited and as a Director of Africa Finance Corporation (AFC).

Aig-Imoukhuede Having enjoyed a distinguished banking career of over two decades spent at Access Bank Plc and GTB (Guaranty Trust Bank PLC) where he resigned in March 2002, Aig-Imoukhuede was also eased out in December 2013. By September, he would emerge as the president of the Nigerian Stock Exchange (NSE).

He has been the Chairman of Board of Directors at Associated Discount House Limited since December 1, 2011.

He served as the Chairman of Wapic Insurance Plc and also as a Director of Africa Finance Corporation.

Tony Elumelu An economist, banker, investor and philanthropist, Elumelu made a name for himself when he acquired and turned Standard Trust Bank into a topfive player in Nigeria. In 2005, his corporate reputation as an African Business Leader was sealed when he led the largest merger in the banking sector in subSaharan Africa to acquire United Bank for Africa (UBA). In five years, he transformed it from a single-country bank, to a pan-African institution with over seven million customers in 19 African countries.

Ovia

Akinfemiwa

Elumelu

Imokhuede

He was caught up with the CBN 10year tenure and had to ‘retire’ early from UBA in 2010. Elumelu founded Heirs Holdings. In the same year, he established the Tony Elumelu Foundation, an Africa-based and African-funded, philanthropic organisation.

ping the deviant managing director into line of the founding fathers.

Again, having been MD/CEO, he will now be in a better position to appreciate and guide the board and management aright.

A cursory look at the environmental factors, which led to the formulation of that policy, is still germane. The policy stemmed from the unsavoury practices, which had existed in the banks prior to the 2005 consolidation exercise of Professor Chukwuma Soludo.

Akinfemiwa Having served as the Managing Director/Chief Executive Officer of Prudent Bank Plc, which coalesced with about five other lenders to form Skye Bank, Akinfemiwa was also forced to retire early on July 31, 2010. A seasoned banker with over 28 years of banking experience, he is Chairman of Heritage Bank. He is also the Chairman of AAG Management Resources Limited (a management consulting firm) and also sits on the board of various other companies including Genesis Electricity and Petroleum Products International Limited.

Ihejiahi Ihejiahi, who has varied working experience in different aspects of banking from commercial to credit risk, operations and information technology, also had to quit in February 2014. He served as Chairman of FUSL-Group, a subsidiary of Fidelity Bank Plc. He served as an Executive Director of Fidelity Bank Plc until February 2014. He holds a B.Sc in Accounting from Ahmadu Bello University Zaria and also an M.Sc in Finance from The London School of Economics and Political Science.

Merits of the policy Meanwhile, if one considers the relative advantage and disadvantage of the CBN governance code policy, the merits far outweigh the demerits.

Those who were against the policy then opposed it on the grounds of a persecution complex; that the CEOs were forced out of their passion. But it had the stopgap measure of breaking the likely excesses, which were built up over the years. The policy removed the culture of impunity, which hitherto permeated the sector.

With the return of Ovia, after three years, he would have tested another area of management and would now have the advantage of dispassionate decisionmaking.

Analysts argued that even if the passion, which may have waned, persisted, he would have the opportunity of whip-

Grooming successor Aside from Group Managing Directors/Chief Executives who were due to retire, they also refused to develop and groom a successor. There are many banks, whose MD/CEO’s were busy seeking tenure extensions long after they were due to retire. For instance, one of the former GMD’s in Union Bank of Nigeria Plc, at the tail end of his tenor went to the capital market to raise about N300 billion and when he got to the Central Bank, Soludo’s administration kept delaying the approval until he had to retire. Consequently, Union Bank failed the stress test due to the insensitivity to the strategic growth and development of the institution.

Studies have shown that a board or CEO that has been in place for six or seven years and has not yet provided a pool of qualified candidates and a robust process for selecting the next leader is a failure. Prior to the policy, every bank talked about emulating such best practices as general electric but few or none, worked very hard at it.

Corporate governance The result of poor succession planning is often poor performance, which translates into high turnover and corporate instability. CBN’s findings prior to the policy was that two out of every CEO, failed in the area of corporate governance.

Although Soludo’s code of corporate governance was refined further by his successor, the gavel on 10 years tenure was retained.

Besides, many banks were then run as family businesses and the culture of absolute ownership was deployed by the MD/CEO. The result of joint stress test conducted by the CBN and the Nigeria Deposit Insurance Corporation (NDIC) in 2009 showed that most banks neglect-

Putting board on their toes The regulation has also called members of Boards of Directors to be alive to their duties. Track records of appointees’ eligibility requirement now cover both integrity and past performance, in accordance with the CBN guidelines on fit and proper person regime.

The CEO succession is all boards’ paramount responsibility; nothing else so profoundly affects the bank’s future.

Today, the dictum is that directors must start investing their time and energy to look for new leaders because the call can come tomorrow.

In order to increase the chances of finding a leader who will serve long and well, banks must do three things. First, they should have available a deep pool of internal candidates kept well-stocked by leadership development process tailored from bottom to top.

Second, boards should create and continually update and refine a succession plan and have in place a thoughtful process for making decision about candidates.

Third, the directors considering outside candidates should be exacting, informed drivers of the executive search process, leading recruiters rather than being led by them. Using these guidelines, organisation can ensure that all participant- directors, executive recruiters and sitting CEOs - perform wisely and appropriately when it is time to choose their next leader.

As a sequel to the CBN code of corporate governance, most banks assiduously endeavour to run their institution based on the Securities and Exchange Commission’s code of corporate governance 2003, other financial institutions Act and other relevant statues, which provide guidance to the governance of the bank. They are now in compliance with regulatory requirements and core values of their organisations and founding fathers.

The codes and status are geared towards ensuring accountability of the Board and Management to the stakeholders of every bank and to promote the sustainability of the bank. The principle of good corporate governance practices remains one of the core values and importance of the bank. The responsibilities of Board of Directors, as the highest decision making body approved by the stakeholders, is to provide strategic direction, policies and leadership in attaining the objectives of the banks. The board monitors the activities of Executive Directors and the accomplishment of set objectives through reports of its meetings. It also performs its oversight function of the bank’s business. Today, every bank, as a matter of necessity, has at least four standing committees, which deal with specific operations of the bank, namely Board Credit Committee, Board Finance and General purpose Committee, Board establishment and Services Committee, and Board Risk Management Committee. This is in addition to Independent Audit Committee. These committees have a lot of functions and duties, which converge to show the actual picture of a bank’s internal dynamics and governance.

Everything considered, the return of the MD/CEOs as chairmen of banks is a triumph of the CBN corporate governance.

34

business | STOCK WATCH

Sanctity of Truth

Monday, July 21, 2014

Unilever Nigeria: Harsh milieu cuts profit confident that all these deliberate thrusts can only translate into evident value addition in the longer term for all stakeholders.”

Achebe explained that although the company’s results for the 2013 financial year were reflective of short-term effects of deliberate investment strategy to achieve a more sustainable future, the fundamentals remained strong.

According to him, the performance shows that the company is emerging as a sturdier consumer-centric organisation, which is better fit to compete for consumers of the future.

Despite expressing optimism about the company’s performance in 2013 and its future growth, Achebe lamented the tough environment in which it had to operate.

For instance, he said, the business environment continued to be challenging throughout 2013 with Nigeria experiencing further slide in the ease of doing business index.

He also said that power generation cost rose to astronomical heights, affecting not only the cost of production but also putting increased pressure on the disposable income of consumers.

RECEDING Market pundits forecast further slide in profits Chris Ugwu

T

hough the manufacturing sector of the Nigerian economy appears to be gradually bouncing back to reckoning, based on the achievements recorded in the sector last year. However, it is still shrouded with a mixture of positive and negative challenges.

This is because the economy generally has continued to face enormous socio-economic challenges. There is no doubt that the security challenges in Northern part of the country with the attendance consequences of loss of lives and properties, domestic constraints such as depletion of fiscal buffers, dwindling foreign reserves, erratic supply of public electricity, poor infrastructure, among others, have remain a thorn in the business operating environment.

Operating environment While some companies were able to successfully weather the storm notwithstanding the difficulty in business environment, others were not.

Unilever Nigeria Plc got its fair share as its 2013 full year results saw a drop of 16.45 per in profit and a 46 per cent decline in its pre-tax profit during the first quarter ended March 2014.

Market analysts have also predicted that the company’s profit was likely to decline further in Q2 2014, following a disappointing start for the year. And just as expected, the company’s Q2 financials released at the weekend showed that the manufacturing firm recorded 47 per cent decline in profit after tax, from N2.740 billion posted during the comparable year of 2013 to N1.464 billion in 2014.

However, market sentiments for the shares of the company have remained firm on the back of improved product rebranding, introduction of new product packing across a wide spectrum and increased market penetration.

Stockbrokers attributed investors’ sustained confidence in the stock to continued sales; marketing and distribution efforts as well as its strong presence across Nigeria.

The company has also continued to retain the top spot in the personal and household products sub-sector of consumer goods sector in terms of share price and market capitalization. Analysts believe that this will be sustained in the next few years.

The share price, which closed at N57.70 per share in August 30, 2013, has recorded a dip in growth. At the close of trading last Friday, the company’s share price stood at N53.00, a decline of N4.93 or 9.3 per cent year to date.

Achebe

Share price movement of Unilever Nigeria Plc 2013 Aug 31

N57.70

Sept 30

N60.21

Oct 31

N60.00

Nov 30

N61.40

Dec 31

N53.80 2014

Jan 31

N54.00

Feb 28

N47.05

Mar 31

N45.15

Apr 30

N47.50

May 30

N49.99

June 30

N54.00

July 18

N52.77

Profile Unilever Nigeria Plc was incorporated as Lever Brothers (West Africa) Limited on 11th April, 1923 by Lord Leverhulme. But the company’s antecedents have to be traced back to his existing trading interests in Nigeria and West Africa generally, and to the fact that he had since the 19th century been greatly involved with the soap business in Britain. Unilever Nigeria Plc started as a soap manufacturing company, and is today one of the oldest surviving manufacturing organisations in Nigeria.

After series of mergers/ acquisitions, the company diversified into manufacturing and marketing of foods, non-soapy detergents and personal care products. These mergers/acquisitions brought in Lipton Nigeria Ltd in 1985 and Cheesebrough Ponds Industries Limited in 1988. The company changed its name to Unilever Nigeria Plc in 2001.

Unilever Nigeria Plc is a public liability company quoted on the Exchange since 1973 with Nigerians currently having 49 per cent of equity holdings.

Financials The company had reported 18.4 per cent drop in profit before tax for the financial year ended 2013, from N8.185 billion posted in 2012 to N6.911 billion in 2013.

The profit after tax also stood at N4.806 billion against N5.597 billion recorded, representing a drop of 16.45 per cent, while the company’s revenue grew by 7.43 per cent to N60.004 billion from N55.547

Although the company’s results for the 2013 financial year were reflective of short-term effects of deliberate investment strategy to achieve a more sustainable future, the fundamentals remained strong

billion reported in 2012.

Unilever had also reported a 46 per cent decline in its pretax profit during the first quarter ended March 30, 2014.

In filings with the Exchange, the company’s pre-tax profit went down by 46 per cent from N2.021 billion in the Q1 of 2013 to N1.089 billion in the review period of 2014.

Also, post-tax profit declined 40.6 per cent in the first quarter of 2014 as the company declared N750.629 million compared with N1.264 billion reported in same period of 2013.

Similarly, revenue fell 2.8 per cent from N14.233 billion in the Q1 of 2013 to N13.834 billion in the review period of 2014.

Outlook The Chairman, Unilever Nigeria Plc, Chief Nnaemeka Achebe, had said that the company would focus on long-term profitability.

Achebe, who is also the Obi of Onitsha, said at the company’s 89th Annual General Meeting (AGM) in Lagos recently, that as the company continue its sustainability journey, it is evident that it would have to sacrifice short-term profitability to build a more enduring business and fully harness the opportunities that the Nigerian market portends.

He assured Unilever’s shareholders that the company’s plan for growth would lead to greater returns.

“As we maintain singleminded focus on our consumers and customers, strengthening our core categories, driving cost and complexity reduction with vigour, building people capability and a fit organisation, and leveraging our Unilever Sustainable Living Plan for growth, we are

Analysts’ perspectives According to analysts at ARM Research, the overall current results reflected Unilever’s natural vulnerability to volume slowdown in its sizable HPC segment as pressures mount on consumer discretionary incomes.

The analysts noted that although the onset of electoral cycle could raise prospects about an uptick in sales, the intensifying competition from cheaper priced substitutes will likely result in subdued revenue growth in coming quarters.

“Furthermore, its drive to increase distribution expenditure to bolster top-line and rising debt levels, which will likely result in higher interest expense suggests a weaker earnings trajectory in coming quarters. Unilever trades at a current PE of 41.5x vs. 22.4x for Bloomberg Middle East and Africa peers. Our current fair value estimate for Unilever is at N35.5, which implies a SELL recommendation to its last trading price at N47.04.

Our valuation model is under review,” they noted.

In the same vein, financial analysts at FBN Capital in an equity research carried out and obtained by New Telegraph, had also said the company’s profits is likely to decline yet again in Q2 2014 following a disappointing start for the year.

“While we anticipate flattish top-line growth during the period, unlike Nestle, we do not expect marketing costs for Unilever to taper just yet as market activations around Close-Up brand extensions and other key product lines are still in full flow. As such, we expect PBT and PAT to decline by 16 per cent y/y and 24 per cent y/y respectively,” they said.

BUSINESS | CAPITAL MARKET REPORT

Sanctity of Truth

Monday, July 21, 2014

CERTAINTY Stock market closes the week on positive curve as bargain hunters take position

35

Nigerian stocks advance on investors’ optimism

Chris Ugwu

N

otwithstanding that the stock market skewed downward at the last two trading days (Thursday and Friday), the bulls maintained their grip on the market activities as bargain hunters jostled for shares of blue chip companies.

Analysts said the resurgence of the bulls to sustain market rally after a week of loss was evidence that confidence is returning to market in spite of security challenges that had posed threat to investment in the country.

They had forecast that the uncertainty surrounding the market following massive sell off that most blue chip companies witnessed the previous week will be over following investors’ appetite for some companies that are expected to turn in second quarter results.

Cumulatively, the NSE AllShare Index and Market Capitalisation appreciated by 0.14 per cent to close higher last Friday at 42,891.82 and N14.163 trillion respectively.

Similarly, all the NSE sector indices appreciated during the week with the exception of the NSE Oil and Gas Index that depreciated.

Market opens on positive note Activities on the floor of the Exchange last Monday, opened the week on a green territory as the stock market regained confidence following appreciable demand by investors.

The twin market performance measures, the NSE ASI and market capitalisation, firmed up by 0.22 per cent as bargain hunters began to take investment positions following the bearish run witnessed previous week.

The market had last week closed on the downward trend as market speculators took advantage of the two-week gains to take profits.

At the close of trading, 27 stocks appreciated, while 29 others constituted the losers’ table.

The twin market indicators, the All-Share Index rose by 97.78 basis points or 0.022 per cent from 42,832.82 penulrimate Friday to close at 42,930.60, while the market capitalisation appreciated by N32 billion or 0.022 per cent, from N14.143 trillion to N14.175 trillion.

Further analysis of the day’s trading showed that Ashaka Cement Plc topped the day’s gainers table with N1.62 to close at N34.17, while GTB Plc followed with N1.03 to close at N31.00 per share.

On the flip side, Seven- Up led the losers with a drop of N2.50 to close at N100.03, while Seplat shed N2.00 to close at N700.00.

On the activity chart, the banking sub-sector dominated in volume terms with 175.2 million shares worth N1.3 billion in 1,688 deals. The sub sector was enhanced by the activities in the shares of Unity Bank Plc and Wema Bank Plc.

Trading floor

Other financial services sector boosted by the activities on the shares of FBNH Plc followed with 170.8 million units, worth N2.6 billion in 733 deals.

In all, investors exchanged a total of 468.5 million shares, worth N6.2 billion in 5,502 deals.

Oil & Gas stocks drive activities On Tuesday, the bullish tendencies sustained rally as bargain hunters taking positions on equities dominated the trading activities.

The NSE ASI and market capitalisation increased by 0.09 per cent as market sentiments remained in the green zone.

Transactions in the share prices of Mobil Oil and Forte Oil Plc led other gainers to lift market indicators.

The key benchmark indices maintained positive trajectory to close in the green, taking supports majorly from large capitalised stocks, which were particularly driven by the two companies. Medium capitalisation stocks also contributed to the outlook recorded.

Consequently, at the close of transactions, market capitalisation increased by 0.09 per cent or N14 billion from N14.175 trillion traded the previous day to N14.189 trillion.

Also, the NSE All Share Index (ASI) appreciated by 40.98 basis points or 0.09 per cent, to 42, 971.58 index points from 42,930.60 points recorded in the previous day.

Further review of day’s trading showed that that investors bought 251.7 million shares worth N3.003 billion in 5,692.

On the sub sectorial level, banking sub sector of the financial service sector strengthened by the activities on the shares of Unity Bank and Access Bank, led in volume terms with 91.1 million shares worth N873.6 million in 1,627 deals, while other financial services sub sector, also of the financial service

sector boosted by the shares of FBNH, had 37.3 million ordinary shares worth N372.4 million transacted in 801 deals.

Marketers of refined petroleum products, Mobil Nigeria and Forte Oil, led the gainers, firming by N5.15 and N5.00 to close at N140.15 and N240.00 per share respectively. Also, cement producer, Lafarge Cement WAPCO, strengthened further

by N4.60 to close at N117.60, while consumer goods company, Nestle Nigeria, gained N2.00 to close at N1,112.00 per share.

On the flip side, brewer of alcoholic drinks, Nigerian Breweries, fell by N2.38 to close at N172.22, while industry rival, Guinness Nigeria, was down

by N1.48 to close at N198.02 per share. Also, manufacturers of building inputs Ashaka Cement and Cement Company of Northern Nigeria, declined

by N1.70 and N0.40 to close, respectively, at N32.47 and N11.00 per share. Similarly, financial institutions Ecobank Transnational International and Man-

Five most capitalised stocks@ July 18, 2014 Dangote

N4.09tn

Cement Plc Nigerian

N1.3tn

Breweries Plc Nestle Nig Plc N891.7bn Guaranty

N882.9bn

Trust Bank Plc Zenith Bank Plc

N791.8bn

sard Insurance, slipped by N0.11 and N0.10 to close at N17.39 and N2.52 per share respectively.

Stocks sustains bullish rally The market continued on its positive track on Wednesday as the overall market performance indicators, the NSE ASI and market capitalisation, each rose by 0.13 per cent.

Nestle Nigeria, Total Oil and Mobil Oil were some of the securities, which were responsible for the rise of the market as bullish sentiments continued to envelop trading activities on the floor of the Exchange.

The key benchmark indices maintained positive trajectory to close in the green as bargain hunters responded positively in anticipation of significant second quarter results.

Specifically, the market capitalisation of equities appreciated by N19 billion as market sentiments remained positive.

At the close of trading, 22 stocks appreciated, while 26 others constituted the losers’ table.

The twin market indicators, the All-Share Index rose by 58.71 basis points or 0.13 per cent from 42,971.56 recorded the previous day to close at 43,030.27, while market capitalisation of equities gained N19 billion or 0.13 per cent from N14.189 trillion to N14.208 trillion.

Further analysis of the day’s trading showed that Nestle topped the gainers’ table with N12.90 to close at N1, 124.90 while Total Oil followed with N8.55 to close at N179.60 per share and Mobil Oil N7.00 to close at N147.15.

Speculators cull profits The Nigerian stock market last Thursday lowered its momentum after recording a three-day significant growth.

This was due to profit taking by investors in the wake of the cautious optimism that had prevailed in the market in the recent times.

The twin market performance measures, the NSE ASI and market capitalisation dropped by 0.26 per cent as the market tempo lowered.

At the close of trading, 27 stocks appreciated, while 25 others constituted the losers’ table.

The twin market indicators, the All-Share Index dropped by 111.75 basis points or 0.26 per cent from 43,030.27 the previous day, to close at 42,918.52, while the market capitalisation dropped by N37 billion or 0.26 per cent, from N14.208 trillion to N14.171 trillion.

Further analysis of the day’s trading showed that Mobil Oil Nigeria Plc topped the day’s gainers table with N7.35 to close at N154.50, while PZ Cussons Nigeria Plc followed with N1.99 to close at N37.99 per share.

On the flip side, Forte Oil led losers with a drop of N2.00 to close at N238.00 while Guinness Nigeria Plc shed N1.80 to close at N197.10 per share.

Investment value dips And last Friday, the bears battled to sustain stronghold in the Nigerian capital market following marginal drop in both market performance indices reflecting profit taking, amid drop in investment activities.

Consequently, the All-Share Index shed 26.7 basis points or 0.06 per cent, to close at 42,891.82 as against 42,918.52 recorded the previous day, while the market capitalisation of equities depreciated marginally by N9 billion or 0.06 per cent as market sentiments remained on red zone.

Meanwhile, a turnover of 374.3 million shares worth N3.2 billion in 4,778 deals was recorded in the day’s trading.

Banking services sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 211.4 million shares worth N1.1 billion exchanged by investors in 1,349 deals.

Insurance NAICOM recovers N128m disputed claims from underwriters 36

Sanctity of Truth

Monday, July 21, 2014

CONFIDENCE NAICOM is restoring confidence in Nigerians who, hitherto, detest taking insurance policy

We are aware that insurance is a business of selling promises. But when these promises made to policyholders and investors are not kept, it then becomes NAICOM’s business to intervene and ensure these promises are kept

Sunday Ojeme

A

s part of measures to inject sanity into the insurance industry, the National Insurance Commission has again boosted the confidence of policyholders through its recent intervention in claims disputes involving some insurance companies and their clients.

Prompt claims settlement To this end, the commission has successfully facilitated claims payment of over N128 million between Januarys to June 30, 2014. This resolution arose from a collation of complaints forwarded to the commission’s Complaint Bureau Unit.

According to a notice posted on the commission’s website last Thursday, it received a total of 83 complaints from January to June this year while the number of complaints treated was 215. This included the ones from the previous year.

The notice revealed that outstanding complaints stood at 189, while some are at investigative stage with others near closure. It added that between Januarys to June 30, 2014, it settled 26 disputes involving eight insurance companies, two brokers and their clients.

The commission noted that the process was line with its efforts at ensuring adequate protection of policyholders and insurance consumers over settlement of genuine insurance claims.

Settled claims A breakdown of the settled cases included Standard Alliance Life paying Mr. Andrew Mark Ilanse a Life Benefit claim of N32,777; Staco Insurance /Arizona insurance Brokers, General Motor Insurance claim of N1,525,500.00; Standard Alliance Life/ Ogbene Virginia, Life Benefits N543,000.00; Aiico/ Finbank Insurance Brokers, Aviation N17,038,872.00; IGI/ Benjamin Solicitors, Life Benefits, N3,488,032.00; Aiico, Paul Adie, Life Benefits N120,000.00; NSIA/ Eternalie Risk Insurance Brokers, General Marine N547,295.08 and Standard Alliance Life Insurance/ Oyeleke Oyewale Teslim, Life Benefits N136,303.17.

Others are NEM/First & Foremost Investment on General Motor N8,876,632.90; Guniea Insurance/Sam Omokaro fire N 2,311,278.16; Standard Alliance Life/ J. Abida Ademokoya, Life Benefits N2,320,896.32; Standard Alliance Insurance/Udoka Bestman General Motor, N42,120,000.00; Emerald Insurance Brokers, Equity Insurance General, nonremittance of premium N6,589,475.48; The list also involved Guinea & Oasis Standwell International Co Ltd, General Marine, N803,56.67; Aiico, Adwunmi Adepoju, Life benefits, N690,000.0 and Guinea & Sterling/Chrome Insurance Brokers, Consolidated Hallmark General, fire, N 10,047,873.00; Aiico/Nichodemus U. Ali, Life Benefits N24,835.00; Standard Alliance Life, University of Ibadan, Life Benefit N2,320,896.32; Standard Alliance Life, A-Asken & Company, Life Benefits N1,124,389.78; Kapex

Commissioner for Insurance, Mr Fola Daniel

MD, AIICO, Edwin Igbiti

Managing Director, LASACO Assurance Plc, Mr Olusola Ladipo Ajayi

Chairman, NIA, GUS Wiggle

MD, NEM, Tope Smart

MD, STI, Wale Onaolapo

Insurance Brokers, Chief Abraham Yepwi, Life Benefits N3,585,675.64; IGI, Federal Ministry of Education, Agencies Group Life N1,500,000.00; Nicon, Hanatu Micheal Jankaro, General, Motor N153,800.00; Sterling Assurance, Vilisco General, Motor N5,607,000.00; IGI, General, Motor N15,458,105.57; Standard Alliance Life Insurance, Nigerian Air Force, Life Benefits N234,032.00; and IGI/ low bond solicitors, Life Benefits N445,807.00/373,995.00.

Previous settlements New Telegraph recalls that in 2012 the commission had also intervened and ensured the settlement of N1.2billion claims in dispute that involved a total of 52 cases.

NAICOM’s intervention in claims dispute resolution relates to Motor, Marine and Life insurances as well as Bond Issues and Pension matters. The complaints were received from individual policyholders, beneficiaries, govern-

ment agencies, SERVICOM, Legal Aid Council and Public Complaints Commission.

During the year, the Complaints Bureau handled a total of 349 cases, 86 of which were fresh complaints with the remaining 263 being ongoing cases.

Rise in complaints NAICOM said the increase in the number of complaints received was as a result of the various publicity campaigns embarked upon by the Commission which has made members of the public and, in particular, policyholders to be more informed of the Commission’s window of dispute resolution, which is not only effective but timely.

The Complaints Bureau discharges its responsibilities either through correspondences with the insurance companies’ involved or through adjudication. In that year, a total of nine adjudication meetings were held while majority of the disputes resolved were through correspondences.

The commission said “It is noteworthy that the response and cooperation of insurance companies involved in any dispute with policyholders has been very encouraging. During the year, not less than 85 per cent of the insurance institutions responded to queries or directives issued by the Commission for claims settlement.”

The Complaints Bureau Unit is solely responsible for receiving and processing complaints against insurance companies for non-settlement claims in the Commission.

According to the Commissioner for Insurance Fola Daniel, there are tensions and apprehension in ensuring that things are done properly, NAICOM will not renege in providing good leadership.

He said: “We are aware that insurance is a business of selling promises.

But when these promises made to policyholders and investors are not kept, it then becomes NAICOM’s business to intervene and ensure these promises are kept.

“In doing this, there is always going to be tension, apprehension, disagreements between the regulator and the stakeholders. This is healthy if only to engender transparency, good corporate governance, better management and appreciation of the laws governing the business.

"Notwithstanding the resistance from these entities, the Commission remains committed to providing leadership to ensure sanity, good ethical practices, development and growth in the industry.”

BUSINESS | INSURANCE 37

Sanctity of Truth

Monday, July 21, 2014

CIIN’s quest for insurance awareness intensifies PENETRATION Taking insurance to the grassroots remains upbeat as educational arm of the sector fashion strategies to deepen penetration Sunday Ojeme

T

he desire by the Chartered Insurance Institute of Nigeria to widen the scope of insurance awareness/education further deepened recently as the new President of the Institute, Mr. Bola Temowo, promised to initiate various educational pro-

grammes aimed at taking underwriting to more Nigerians.

Temowo, who disclosed this as part of the agenda during a courtesy visit by his counterpart at the Nigerian Council of Registered Insurance Brokers, said among other things that he would strengthen the study and teaching of insurance in secondary schools and tertiary institutions in Nigeria through the ‘Train the Trainer" programme for insurance teachers, as well as empowerment and capacity building for insurance lecturers in tertiary Institutions.

He promised to promote insurance education by conducting professional and certificate examinations for the purpose of registering eligible persons

Malaysia jet crash insurance may be complex nsurance on the Malaysian IUkraine airliner brought down over on Thursday is likely to pay out relatively quickly, provided that the cause of the crash is firmly determined, but observers say insurance for the loss of 295 lives and other liability will likely be complex and lengthy.

Malaysia Airlines said air traffic controllers lost contact with flight MH-17 at 1415 GMT as it flew over eastern Ukraine toward the Russian border, bound for Asia with 280 passengers and 15 crew aboard. Flight tracking data indicated it was cruising at 33,000 feet when it disappeared, apparently struck by a missile.

Investigators will try to determine whether plane actually was hit by a missile or blew up of its own accord, and that should be fairly easy, said Robert Cohn, an aviation attorney and partner at Hogan Lovells in Washington, D.C. "Then the interesting issue is who do you go after as the malefactors?" he said. "Are you going to sue a rebel?"

Ukraine accused "terrorists" - militants fighting to unite eastern Ukraine with Russia - of shooting down the Malaysia Airlines plane, a Boeing 777, with a heavy, Soviet-era SA-11 groundto-air missile as it flew from Amsterdam to Kuala Lumpur.

Leaders of the pro-Russian Donetsk People's Republic rebels denied any involvement, although around the same time their military commander said his forces had downed a much smaller Ukrainian transport plane.

In some ways, the investigation will mirror the search for the Malaysia Airline flight that went missing in March, when Malaysia had jurisdiction and other countries assisted.

The US National Transportation Safety Board, which often investigates air accidents overseas and must be invited to join, said it was still determining its possible involvement in probing the Ukraine loss.

"We are communicating with other government agencies and evaluating what our role will be," the agency said in a statement.

Insurance price comparison sites failing, says FCA F

ar from helping consumers to choose insurance policies, price comparison sites may be confusing them further, according to the regulator.

The Financial Conduct Authority (FCA) says some sites are failing consumers' expectations, while a number are breaking the rules.

The FCA said consumers were not being given the right information to help them make decisions.

Of 14 sites reviewed, many were accused of being "unclear" by the FCA, and some were failing regulatory standards.

The FCA said comparison sites tend to focus too much on price, without telling consumers about other policy details - such as the excess they might have to pay in the event of a claim.

It said that some consumers mistakenly believed that the price comparison website had

provided them with quotes on the best policy for their individual needs and had assessed the suitability of the policy for them.

In addition, some sites which are owned by an insurance company or an insurance broker, were failing to flag up a potential conflict of interest.

Small print on the Gocompare.com website informs customers that it is 50% owned by Esure, an insurance company.

Gocompare.com has always strived to show its customers the full story when it comes to insurance comparison,” Those who read right to the bottom of another site, Confused.com, will see that it is owned by Admiral Insurance.

"However, we are a completely separate business, and pride ourselves on impartiality and independence," according to the website.

as insurance practitioners, organizing conferences, workshops, seminars and courses on insurance and related subjects, encouraging and assisting insurance professionals to regularly update their knowledge in order to respond positively to changes in the business environment and meet the challenging needs of their clients, producing publications on insurance and related subject, as well as providing and maintaining libraries comprising books and publications for the advancement of the knowledge of insurance.

He also expressed his willingness to promote the general development of insurance by conducting, encouraging and assisting in the conduct of research into insurance and allied subjects with special emphasis on local practices, laws and conditions, uphold and encourage members to adhere strictly to the observance of the industry’s

codes of conduct and ethics for a healthy practice of the insurance profession and create insurance awareness among the general public through various social activities like the annual dinner, picnic, fitness walk, sports and the use of the electronic and the print media.

In his words, “The promotion of these goals and objectives is the collective responsibility of all of us and it behoves us to remain loyal and committed to the Institute at all times. This was and remains the oath of allegiance which we all swore to as Fellows, Associates and Senior Members of this great Institute.

“Although change is a desirable phenomenon, we must not lose sight of the efficacy of continuity in all human endeavours. Let me therefore reiterate my resolve in ensuring continuity as encapsulated in my acceptance speech with the theme, “Promoting the Legacy of Continuity”. I did say that

I have not come to lay a new foundation but to continue the march towards greatness. This belief is borne out of my resolve in seeing that the vision of our founding fathers remains a driving force.

“Let me acknowledge the fact that the Doctrine of Continuity has been snowballing in the last few years, culminating in our decision to begin a campaign to institutionalize it today.

He therefore resolved to continue in the activities of his predecessors by working more on the Institute’s Victoria Island building project, ensuring the commencement of academic activities at the College of Insurance and Financial Management and its eventual commissioning, establishment of an e-library, promoting the relevance of insurance in national consciousness and developing the platforms for insurance education, and establishment of greater industry bonding.

L-R: Deputy Chairman, Nigerian Insurers Association (NIA), Eddie Efekoha; Director-General, Chartered Insurance Institute of Nigeria (CIIN), Kola Ahmed; Council Member, Funke Adenusi; Council Member, Isioma Chukwuma; President, Bola Temewo; and President, Nigerian Council of Registered Insurance Brokers (NCRIB), Ayodapo Shoderu, during a parley between the two bodies in Lagos.

Seven insurance firms defaulted in 2013 quarterly returns –NAICOM

T

he National Insurance Commission has released the names of insurance companies that failed to submit their 2013 quarterly returns to the commission for review.

According to the commission, seven firms including Capital Express Assurance Limited, Cornerstone Insurance Goldlink Insurance Company Limited; Industrial and General Insurance Plc; International Energy Company Limited; Nicon Insurance Corporation and Unic Insurance Plc failed to submit their 2013 quarterly returns.

The Commission also listed Adic Insurance Company Plc (NSIA); FBN Life; Old Mutual General Insurance Company Limited; Standard Alliance Insurance Company Limited; The Universal Insurance Company Limited; Union Assurance Company Limited and Wapic Insurance Plc among those that submitted theirs in some quar-

ters and failed in others.

Prior to the development, the commission had last week released a list of underwriting firms that were yet to submit their 2014 first quarter financial returns for scrutiny.

According to the list, Aiico Insurance Plc, Industrial & General Insurance (IGI), Standard Alliance Insurance Plc, Lasaco Life Assurance, Law Union & Rock Insurance, NICON Insurance, Unic Insurance, Investment& Allied Insurance, Spring Life Assurance Ltd and Alliance & General Life Insurance are yet to make available their first quarter returns to the regulator.

Those who have forwarded theirs include Mutual Benefits Insurance Life and General Insurance, Goldlink Insurance Plc, Sovereign Trust Insurance Plc, Cornerstone Insurance Plc, Custodian General

and Life Insurance, Mansard Insurance, Consolidated Hallmark Insurance, Sterling Assurance Plc, Lasaco General Insurance and Linkage Insurance.

Others are FBN Life Assurance, Old Mutual Nigeria Insurance Company, Old Mutual Nigeria Life Assurance ,Equity Assurance , Fin Insurance Company, Guinea Insurance, Leadway Assurance Company, NEM Insurance, International energy Insurance, KBL Insurance, Niger Insurance Plc, Nigeria Reinsurance Corporation and Nigerian Agricultural Insurance Corporation.

The list also has NSIA Insurance, Oasis Insurance, Prestige Assurance Plc, Regency Alliance Insurance Plc, Royal Exchange Prudential Life, Standard Alliance Life, UBA Metropolitan Life Insurance, Union Assurance Co. Limited and a host of others.

38 business | FINANCIAL MARKET NEWS

Sanctity of Truth

Monday, July 21, 2014

FMDQ Daily Quotations List

18-Jul-14

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.

Bonds

Price

FGN Bonds Issuer

Rating/Agency

NA

NA

Description 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)

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

9.25 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

100.00 535.00 500.27 452.80 20.00 100.00 300.00 351.30 233.90 600.00 165.17 75.00 150.00 200.00 591.57

TOTAL OUTSTANDING VALUE

4,375.01

TOTAL MARKET CAPITALISATION

4,455.14

Rating/Agency

Issuer

Agency Bonds AMCON FMBN

NA

***LCRM

Description

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

TOTAL OUTSTANDING VALUE

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

0.20 0.76 2.08 2.78 3.03 3.12 3.87 4.95 5.27 7.53 9.66 14.36 14.84 15.34 16.01

10.90 10.79 11.13 11.18 11.13 11.13 11.17 11.29 11.30 11.93 12.20 12.18 12.19 12.19 12.24

10.14 10.06 11.05 11.11 11.01 11.01 11.07 11.22 11.22 11.87 12.15 12.14 12.14 12.14 12.20

99.63 95.13 103.45 109.10 96.79 95.39 98.52 117.45 83.25 121.75 111.15 118.85 102.02 74.63 84.40

99.78 95.63 103.60 109.25 97.09 95.69 98.82 117.75 83.55 122.05 111.45 119.15 102.32 74.93 84.70

Maturity Date

TTM (Yrs)

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

#

Issue Date

Coupon (%)

Outstanding 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 3.30 112.22 116.70 66.49

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

0.29 0.85 1.46 2.40 2.76 2.97

1.00 2.63 2.27 2.00 1.00 1.00

11.75 13.39 13.12 13.07 12.10 12.12

96.76 89.56 105.39 99.92 98.46 96.00

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

0.05 0.24 1.12 0.72 1.24 1.25 2.75 1.80 3.46 2.43 4.21 2.63 2.63 3.01 3.08 5.35 3.14 3.75 6.36 6.46 3.93 3.97

1.56 3.29 4.44 3.23 4.46 3.48 5.59 1.00 1.79 1.80 1.00 1.00 4.78 1.00 1.00 1.00 2.74 1.00 1.00 1.94 1.44 1.95

12.17 14.02 15.18 14.03 15.24 14.27 16.69 11.96 12.94 12.87 12.19 12.09 15.87 12.13 12.13 12.32 13.87 12.17 12.58 13.54 12.62 13.13

100.05 99.88 97.29 99.85 98.80 101.53 85.64 102.89 102.86 102.51 105.77 105.33 96.34 105.74 108.56 108.30 102.17 107.41 103.91 106.12 105.53 105.45

1,301.62

TOTAL MARKET CAPITALISATION

1,262.94

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

KWARA NIGER KADUNA *EBONYI *BENUE *IMO LAGOS *BAYELSA EDO *DELTA NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN *OSUN LAGOS KOGI *EKITI *NASARAWA

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 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

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 6.08 6.27 7.37 57.00 29.92 25.00 37.25 9.00 14.96 11.13 27.00 17.28 80.00 28.37 11.40 87.00 5.00 4.78 4.79

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Corporate Bonds

501.10 511.50

A+/Agusto; AA/GCR

LAFARGE WAPCO

11.50 LAFARGE WAPCO 7-OCT 2014

Aa/Agusto

GTB µ NGC

17.00 NGC 31-DEC-2014

Nil

10.00 UPDC 17-AUG-2015

Bbb-/Agusto A-/Agusto

*UPDC

BB+/GCR

*CHELLARAMS

*FLOURMILLS

A+/Agusto; A-/GCR A-/Agusto

NAHCO

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 BBB/GCR A+/Agusto; A-/GCR

12.00 FLOURMILLS 9-DEC-2015 14.00 CHELLARAMS 06-JAN-2016 13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016

FSDH

A/GCR

13.50 GUARANTY TRUST 18-DEC-2014

UBA

13.00 UBA 30-SEP-2017

*C & I LEASING *DANA#

MPR+7.00 DANA 9-APR-2018

*TOWER *TOWER

18.00 C&I LEASING 30-NOV-2017

#

MPR+7.00 TOWER 9-SEP-2018

#

MPR+5.25 TOWER 9-SEP-2018

UBA

14.00 UBA II 22-SEP-2018

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

*DANA NAHCO

15.75 LA CASERA 18-OCT-2018 16.00 DANA II 1-APR-2019 15.25 NAHCO II 14-NOV-2020

07-Oct-11

11.50

11.80

07-Oct-14

0.22

1.00

11.72

99.87

18-Dec-09

13.50

13.17

18-Dec-14

0.42

5.21

16.04

98.94

01-Apr-10

17.00

2.00

31-Dec-14

0.45

8.71

19.56

98.87

17-Aug-10

10.00

5.29

17-Aug-15

0.60

4.88

15.72

96.28

09-Dec-10

12.00

13.62

09-Dec-15

0.91

1.00

11.74

100.58

06-Jan-11

14.00

0.60

06-Jan-16

0.99

2.63

13.34

100.73

29-Sep-11

13.00

15.00

29-Sep-16

2.20

1.00

12.05

101.75

25-Oct-13

14.25

5.53

25-Oct-16

2.27

1.34

12.39

103.53

30-Sep-10

13.00

20.00

30-Sep-17

3.20

1.00

12.14

102.19

30-Nov-12

18.00

0.73

30-Nov-17

2.02

1.88

12.91

109.83

09-Apr-11

16.00

7.20

09-Apr-18

1.98

3.48

14.50

102.88

09-Sep-11

18.00

3.27

09-Sep-18

2.14

5.20

16.24

103.44

09-Sep-11

16.00

0.90

09-Sep-18

2.14

5.06

16.10

101.89

22-Sep-11

14.00

35.00

22-Sep-18

4.18

1.35

12.54

104.59

18-Oct-13

15.75

2.70

18-Oct-18

2.25

2.29

13.34

104.87

17-Feb-12

17.00

0.45

17-Feb-19

2.33

6.11

17.17

99.85

01-Apr-14

16.00

4.50

01-Apr-19

3.45

2.16

13.31

107.24

14-Nov-13

15.25

2.05

14-Nov-20

6.33

2.76

14.33

103.69

11-Feb-18

3.57

1.00

12.16

94.45

Maturity Date

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE

143.81

TOTAL MARKET CAPITALISATION

146.96

Supranational Bond AAA/S&P

10.20 IFC 11-FEB-2018

IFC

11-Feb-13

10.20

12.00

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

Issuer

12.00 11.33 Description

Issue Date

Coupon (%)

Outstanding Value (N'bn)

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

4.79

4.65

110.83

111.66

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

4.07

3.85

103.84

104.64

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

5.16

5.05

108.61

109.43

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,616.39

Corporate Eurobonds B-/S&P; B/Fitch B+/S&P; B+/Fitch

AFREN PLC I

11.50 FEB 01, 2016

01-Feb-11

11.50

450.00

01-Feb-16

3.71

2.96

111.45

112.64

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

500.00

19-May-16

4.90

4.09

104.47

105.93

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

6.06

5.79

99.77

100.77

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

7.03

6.41

100.59

102.30

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

8.67

8.26

94.27

95.55

10.25 APR 08, 2019

08-Apr-12

10.25

300.00

08-Apr-19

4.82

4.23

113.51

114.58

6.25 APR 22, 2019

100.66

B+/S&P

ACCESS BANK PLC

B/S&P; B/Fitch

FIDELITY BANK PLC

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

AFREN PLC

22-Apr-14

6.25

500.00

22-Apr-19

6.39

6.09

99.41

B/Fitch; B/S&P

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

9.12

8.88

98.56

99.49

B/S&P; B-/Fitch

DIAMOND BANK PLC FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.26

6.56

103.42

105.92

B+/S&P; B+/Fitch

AFREN PLC

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

5.36

5.12

104.88

105.84

ZENITH BANK PLC

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

3,660.00 3,780.30

**Treasury Bills DTM 13 20 27 34 41 48 55 62

FIXINGS Maturity 31-Jul-14 7-Aug-14 14-Aug-14 21-Aug-14 28-Aug-14 4-Sep-14 11-Sep-14 18-Sep-14

Bid Discount (%) 10.15 10.10 10.30 10.30 10.40 10.60 10.60 10.65

Offer Discount (%) 9.90 9.85 10.05 10.05 10.15 10.35 10.35 10.40

Bid Yield (%) 10.19 10.16 10.38 10.40 10.52 10.75 10.77 10.85

Money Market

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 10.6250 12.5055 13.3937 14.3374

Foreign Exchange (Spot & Forwards)

Tenor

Rate (%)

OBB

10.42

Tenor

Bid ($/N)

Offer ($/N)

10.63

Spot 7D 14D 1M 2M 3M

161.90 162.15 162.41 163.00 164.17 165.48

162.00 162.41 162.75 163.65 165.35 167.12

O/N Tenor Call 1M

REPO

Rate (%) 10.42 12.60

Agency Bonds AMCON FMBN

NA

***LCRM

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

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

TOTAL OUTSTANDING VALUE

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

978.35 24.56 3.30 112.22 116.70 66.49

Sanctity of Truth

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

1.00 2.63 2.27 2.00 1.00 1.00

11.75 13.39 13.12 13.07 12.10 12.12

KWARA NIGER KADUNA *EBONYI *BENUE *IMO LAGOS *BAYELSA EDO *DELTA NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN *OSUN LAGOS KOGI *EKITI *NASARAWA

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

BUSINESS |FINANCIAL MARKET NEWS 39

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 6.08 6.27 7.37 57.00 29.92 25.00 37.25 9.00 14.96 11.13 27.00 17.28 80.00 28.37 11.40 87.00 5.00 4.78 4.79

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

0.05 0.24 1.12 0.72 1.24 1.25 2.75 1.80 3.46 2.43 4.21 2.63 2.63 3.01 3.08 5.35 3.14 3.75 6.36 6.46 3.93 3.97

1.56 3.29 4.44 3.23 4.46 3.48 5.59 1.00 1.79 1.80 1.00 1.00 4.78 1.00 1.00 1.00 2.74 1.00 1.00 1.94 1.44 1.95

12.17 14.02 15.18 14.03 15.24 14.27 16.69 11.96 12.94 12.87 12.19 12.09 15.87 12.13 12.13 12.32 13.87 12.17 12.58 13.54 12.62 13.13

100.05 99.88 97.29 99.85 98.80 101.53 85.64 102.89 102.86 102.51 105.77 105.33 96.34 105.74 108.56 108.30 102.17 107.41 103.91 106.12 105.53 105.45

11.80

07-Oct-14

13.17

18-Dec-14

0.22

1.00

11.72

99.87

0.42

5.21

16.04

2.00

98.94

31-Dec-14

0.45

8.71

19.56

98.87

5.29

17-Aug-15

0.60

4.88

15.72

96.28

13.62

09-Dec-15

0.91

1.00

11.74

100.58

NSE partners firm on students’ shareholding INVESTMENT

Market operators move to deepen participation in the local bourse Stories by Chris Ugwu

I

n a bid to encourage TOTAL OUTSTANDING VALUE Nigerian students become TOTAL MARKET CAPITALISATION shareholders of quoted Corporate Bonds companies, Capital Bancorp A+/Agusto; AA/GCR LAFARGE WAPCO Plc has formed synergy with Aa/Agusto GTB the Nigerian Stock Exchange NGC Nil (NSE) to ensure that*UPDC students Bbb-/Agusto A-/Agustothe country*FLOURMILLS across embrace BB+/GCR *CHELLARAMS the initiative.

A+/Agusto; A-/GCR NAHCO Chairman, Capital Bancorp A-/Agusto FSDH Plc, Mr Olutola Mobolurin, A/GCR UBA said this at the official launch BBB-/GCR *C & I LEASING of BBB+/DataPro†; the company’s BB+/GCRe-Trade *DANA platA-/DataPro†; BB-/GCR *TOWER form at the NSE corporate µ

#

#

AAA/DataPro†; A+/GCR A/Agusto; A/GCR

Bbb+/Agusto; BBB+/GCR

*TOWER#

headquarters in Lagos.

He noted that there was need to train and make students relevant as investors.

Mobolurin said that the initiative would broaden the investing knowledge of the students at all levels and make them important in the operations of the equity market.

The chairman, who also described participating students from various universities, polytechnics and secondary schools as current billion11.50 LAFARGE WAPCO 7-OCT 2014 aires, expressed optimism 13.50 GUARANTY TRUST 18-DEC-2014 that involvement 17.00 NGC 31-DEC-2014 of students 10.00 UPDC 17-AUG-2015 would further boost investor’s 12.00 FLOURMILLS education and9-DEC-2015 awareness of CHELLARAMS 06-JAN-2016 the14.00 equity market.

13.00 NAHCO 29-SEP-2016 The Bancorp e-trade plat14.25 FSDH 25-OCT-2016 form is 30-SEP-2017 an inventive retail 13.00 UBA stock broking online service 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 crafted to offering, carefully MPR+7.00 access TOWER 9-SEP-2018 provide to stockbrokMPR+5.25 TOWER 9-SEP-2018

UBA

14.00 UBA II 22-SEP-2018

*LA CASERA *CHELLARAMS#

MPR+5.00 CHELLARAMS II 17-FEB-2019

15.75 LA CASERA 18-OCT-2018

ing services for the busy executives and upwardly mobile young adults.

While listing benefits derivable from the platform, Mobolurin explained that Capital Bancorp e-Trade was also a platform for encouraging financial inclusion for the investing public through a user friendly and simple online interface.

He said: “It is about the ease of stockbroking transactions from the comfort of homes or offices as you are only a click 07-Oct-11 11.50 away 18-Dec-09 via your handheld, por13.50 table tablet or the good old com01-Apr-10 17.00 puter 17-Aug-10 system.”

10.00 09-Dec-10 12.00 Similarly, the Managing 06-Jan-11 14.00 , Mr. Director of the company 29-Sep-11 13.00 Aigboje Higo stated that the 25-Oct-13 14.25 initiative was introduced to le30-Sep-10 13.00 verage on current IT18.00 technol30-Nov-12 ogy and more so, to make 09-Apr-11 16.00 trad18.00 more ing in09-Sep-11 shares and bonds

inclusive. That is, capturing more of the retail segment of the market.

He explained that Capital Bancorp e-Trade would make trading in shares and bonds closer to everyone, since stockbroking office cannot be opened everywhere and to stimulate savings habit among the youths: undergraduates, youth corps 501.10 members etc.

He said: “This platform, 511.50 will reduce the implicit (trav-

BBB/GCR

*DANA NAHCO

A+/Agusto; A-/GCR

16.00 DANA II 1-APR-2019

15.25 NAHCO II 14-NOV-2020

TOTAL OUTSTANDING VALUE

TOTAL MARKET CAPITALISATION Supranational Bond

(AGM) approved the compaHe advised the company to 10.20 IFC 11-FEB-2018 AAA/S&P ny’s N150 million IFC dividend, give active consideration on the TOTAL OUTSTANDING VALUE amounting to 10 kobo per ev- issue of unclaimed dividend to TOTAL MARKET CAPITALISATION ery 50 kobo share, for the 2013 earn more confidence from the financial year. shareholders. Description Issuer TheRating/Agency shareholders, who laudHe also enjoined the comedFGN the Eurobonds company for the dividend pany to keep their pricing polipayout, said they were appre- cies geared towards optimising 6.75 JAN 28, 2021 BB-/Fitch; B+/S&P ciative of the efforts, which the resources for continued growth BB-/Fitch; put in place to drive company and development exFGN 5.13 JULwithout 12, 2018 BB-/S&P the company for increased re- ploiting the market and also BB-/Fitch; 6.38 JUL 12, 2023 turn on investment. maintain an amicable relationBB-/S&P TOTAL OUTSTANDING VALUE Speaking at the meeting, a ship with various stakeholders shareholder Mr.CAPITALISATION Olawale Lawal, to sustain the standard of the TOTAL MARKET commended the company over business.

Eurobonds itsCorporate progressive approach in opChairman, Fidson, Mr Felix 11.50 FEB 01, 2016the acB-/S&P; B/Fitch PLC I erations despite theAFREN gridlocks Ohiwerei, commended 7.50 MAY of 19, 2016 GTBANK PLC I affecting the economic situation tivities of the board directors B+/S&P; B+/Fitch 6.00started NOV 08, 2018 GTBANK PLC of the country. as the company the new 25, 2017 B+/S&P ACCESS BANK PLC financial year7.25 He said the profitability onJUL a good note.

6.88 MAY 09, 2018 B/S&P; B/Fitch FIDELITY BANK PLC He stressed10.25 that the company rate in the first quarter was APR 08, 2019 B/Fitch AFREN PLC its brand builda welcome development that has commenced 6.25 APR 22, 2019 B+/Fitch; BB-/S&P ZENITH BANK PLC should be applauded, adding ing and extension 8.75 Mayprogramme 21, 2019 B/Fitch; B/S&P DIAMOND BANK PLC

elling and opportunity) costs of trading in shares and bonds because investors want transactions done as quickly as possible since time is money.

“To be eligible on the platform, you need to have access to internet, a functioning email, an active bank account (current or savings), a fair understanding of the workings of the stock market and a stockbroking account with CBP”, he explained.

Champion Breweries floats rights issue

C

hampion06-Jan-16 Breweries 0.99 Plc 29-Sep-16 2.20 has concluded arrange5.53 25-Oct-16 2.27 ments to 30-Sep-17 raise N11.65 3.20 bil20.00 lion issue.

0.73 via a rights 30-Nov-17 2.02 the clearance 7.20This followed 09-Apr-18 1.98 09-Sep-18 of3.27the issue documents by2.14 the 09-Sep-11 16.00 0.90 09-Sep-18 2.14 Securities and Exchange Com22-Sep-11 14.00 35.00 22-Sep-18 4.18 mission (SEC) and the receipt 18-Oct-13 15.75 2.70 18-Oct-18 2.25 of listing approval for the new 17-Feb-12 17.00 0.45 17-Feb-19 2.33 shares from the Nigerian 01-Apr-14 16.00 4.50 01-Apr-19 3.45 14-Nov-13 15.25 2.05 14-Nov-20 Stock Exchange (NSE). 6.33 in the production of new prod- 143.81 At the last Annual General ucts, which was in line with the 146.96 Meeting (AGM) of Champion strategy to continuously posi- Breweries Plc, held on 16 May, tion the company at foremost 2014, shareholders of the com11-Feb-13 10.20 12.00 11-Feb-18 3.57 therapeutic segments in the pany authorised the Board of 12.00 pharmaceutical industry.

Directors to raise additional 11.33 up to N13.7 billion.

Ohiwerie said that the com- capital pany’s biotech plant is expected A Value total of 6,300,000,000 Outstanding Issue Date Coupon (%) Maturity Date Yield (%) (N'bn) to start test-run production by ordinary shares of 50Bidkobo end of 2014. each will be offered to existFidson recorded a 29 per cent ing shareholders in the ratio 07-Oct-11 6.75 500.00 28-Jan-21 4.79 growth in turnover during the of seven new ordinary shares financial year ended5.132013, to for every ordinary 12-Jul-13 500.00 12-Jul-18 share held 4.07 N9.2 billion when compared as at the close of business on 12-Jul-13 6.38 500.00 12-Jul-23 with N7.2 billion recorded in Wednesday, 07 May 20145.16at 2012.

N1.85 per share.

1,500.00 The gross profit stood at N5.1 1,616.39 Stanbic IBTC Capital Limbillion as against N4.1 billion re- ited is the issuing house to ported during the comparable the issue, which is expected 11.50 450.00 01-Feb-16 04 August 3.71 period01-Feb-11 of 2012, indicating an to open on Monday, 19-May-11 7.50 Profit 500.00 and close 19-May-16 4.90 increase of 26 per cent.

2014 on Wednesday, 6.00 400.00 08-Nov-18 6.06 before08-Nov-13 tax stood at N249 mil- 10 September 2014.

25-Jul-12 7.25 25-Jul-17 lion against N540 million, while 350.00 The net proceeds of 7.03 the 6.88 300.00 02-May-18 8.67 profit09-May-13 after tax declined by 25 Issue will be used to repay 08-Apr-12 10.25 300.00 08-Apr-19 4.82 per cent, from N207 million to the company’s existing debt 22-Apr-14 6.25 500.00 22-Apr-19 6.39 N155 million. and the interest bur21-May-14 8.75 200.00 reduce 21-May-19 9.12 0.60

15.00

Shareholders endorse Fidson’s N150m dividend hareholders of Fidson that shareholders expected the SAnnual Healthcare Plc at the 15th current year to be better for the General Meeting company.

BBB-/DataPro†; BB+/GCR

96.76 89.56 105.39 99.92 98.46 96.00

1,262.94

Sub-National Bonds A/Agusto

0.29 0.85 1.46 2.40 2.76 2.97

1,301.62

TOTAL MARKET CAPITALISATION

Monday, A-/GCR July 21, 2014

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

2.63which will 13.34 100.73 den, potentially 1.00 12.05 101.75 enhance the company’s op1.34 12.39 103.53 erations and reposition it for 1.00 12.14 102.19 profitability and 1.88 12.91 growth.

109.83 At ceremony 3.48 the signing 14.50 102.88 5.20in Lagos, 16.24 Chief 103.44 held Senas 5.06 16.10 101.89 Ukpanah, Chairman of the 1.35 12.54 104.59 Board of Directors of the 2.29 13.34 104.87 company said: “The success6.11 17.17 99.85 ful 2.16 outcome of 13.31the rights 107.24 is14.33 a huge 103.69 sue2.76 will signify step towards the implementation of Champion Breweries’ turnaround programme, which is crucial in reversing the for1.00 12.16 94.45 tunes of our company”.

He urged the company’s shareholders to seize the opportunity and take up their Offer Yield (%) Price Offer Price rights so asBid to support the company’s future growth Prices & Yields plans.

4.65 111.66 Head of 110.83 Equity Capital Markets, Stanbic IBTC, Mrs. 3.85 103.84 104.64 Oyinda Akinyemi, on behalf 108.61 5.05 109.43 of the respective professional parties involved, expressed commitment towards the successful completion of the issue.

2.96 111.45 According to her, the112.64 rights 4.09 circular for 104.47 the issue, 105.93 which 5.79 99.77 100.77 contains a Provisional Allot6.41 102.30 ment Letter100.59 and the Accep8.26 94.27 95.55 tance/Renunciation Form, 4.23 113.51 114.58 will be mailed directly to 6.09 99.41 100.66 shareholders of the company .

8.88 98.56 99.49

B/S&P; B-/Fitch

FIRST BANK PLC

8.25 AUG 07, 2020

07-Aug-13

8.25

300.00

07-Aug-20

7.26

6.56

103.42

105.92

B+/S&P; B+/Fitch

AFREN PLC

6.63 DEC 09, 2020

09-Dec-13

6.63

360.00

09-Dec-20

5.36

5.12

104.88

105.84

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

3,660.00 3,780.30

18-Jul-14

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 **Treasury Bills PLC Terms of Use and Disclaimer Statement.

FIXINGS Money Market Foreign Exchange (Spot & Forwards) the FMDQ OTC

DTM Maturity Bid Discount (%) 13 31-Jul-14 10.15 20 7-Aug-14 10.10 FGN Bonds27 14-Aug-14 10.30 34 21-Aug-14 10.30 41 28-Aug-14 10.40 Issuer Description Rating/Agency 48 4-Sep-14 10.60 55 11-Sep-14 10.60 9.25 28-SEP-2014 62 18-Sep-14 10.65 69 25-Sep-14 10.55 4.00 23-APR-2015 76 2-Oct-14 10.60 13.05 16-AUG-2016 83 9-Oct-14 10.50 15.10 27-APR-2017 90 16-Oct-14 10.60 9.85 27-JUL-2017 97 23-Oct-14 10.45 9.35 31-AUG-2017 104 30-Oct-14 10.60 10.70 30-MAY-2018 111 6-Nov-14 10.60 NA NA 16.00 29-JUN-2019 118 13-Nov-14 10.55 125 20-Nov-14 10.60 7.00 23-OCT-2019 139 4-Dec-14 10.50 16.39 27-JAN-2022 174 8-Jan-15 10.35 14.20 14-MAR-2024 188 22-Jan-15 10.30 15.00 28-NOV-2028 202 5-Feb-15 10.35 12.49 22-MAY-2029 216 19-Feb-15 10.35 8.50 20-NOV-2029 230 5-Mar-15 10.35 265 9-Apr-15 9.90 10.00 23-JUL-2030 279 23-Apr-15 10.05 TOTAL OUTSTANDING VALUE7-May-15 293 9.95 *from the Amortising TOTAL MARKETbonds, CAPITALISATION # the average life is calculated Risk Premium is a combination of credit risk and liquidity risk premiums

Offer Discount (%) 9.90 9.85 10.05 10.05 10.15 Issue Date 10.35 10.35 28-Sep-07 10.40 10.30 23-Apr-10 10.35 16-Aug-13 10.25 27-Apr-12 10.35 27-Jul-07 10.20 31-Aug-07 10.35 30-May-08 10.35 29-Jun-12 10.30 10.35 23-Oct-09 10.25 27-Jan-12 10.10 14-Mar-14 10.05 28-Nov-08 10.10 22-May-09 10.10 20-Nov-09 10.10 9.65 23-Jul-10 9.80 9.70

Bid Yield (%) 10.19 10.16 10.38 10.40 10.52 Coupon 10.75(%) 10.77 9.25 10.85 10.76 4.00 10.84 13.05 10.76 15.10 10.88 9.85 10.75 9.35 10.93 10.70 10.95 16.00 10.92 11.00 7.00 10.94 16.39 10.89 14.20 10.88 15.00 10.98 12.49 11.03 8.50 11.07 10.67 10.00 10.89 10.81

NIBOR

Bonds

Tenor O/N 1M 3M Outstanding 6M (N'bn)

Value

100.00 28-Sep-14 535.00 23-Apr-15 NITTY 500.27 16-Aug-16 Tenor Rate (%) 452.80 27-Apr-17 1M 10.4363 20.00 27-Jul-17 2M 10.7942 100.00 31-Aug-17 3M 10.8845 300.00 30-May-18 6M 10.8868 351.30 29-Jun-19 9M 11.1491 12M 11.3075 233.90 23-Oct-19 600.00 27-Jan-22 165.17 14-Mar-24 NIFEX 28-Nov-28 75.00 150.00 22-May-29 Current Price ($/N) 20-Nov-29 BID($/N)200.00 161.9375 OFFER ($/N) 162.0375 591.57 23-Jul-30

4,375.01

Issuer

Description

AMCON

0.00 AMCON 31-OCT-2014 (SR.5 TR.1) 0.00 FMB 24-MAY-2015 17.25Porfolio FMB II 03-APR-2017 Market Total Outstanding Value(Bn) Volume(Bn) 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 1,011.53 953.07

Agency Bonds FMBN

Modified Duration Buckets

NA

***LCRM <3

TOTAL OUTSTANDING VALUE TOTAL MARKET

3<5

>5 CAPITALISATION Market

Tenor

Rate (%)

OBB

10.42

Tenor

Bid ($/N)

O/N

10.63

Spot 7D Offer14D Yield 1M (%) 2M 10.14 3M 6M 10.06 1Y 11.05

161.90 162.15 162.41 Bid Price 163.00 164.17 99.63 165.48 169.10 95.13 176.89 103.45

REPO TTM (Yrs) BidRate Yield Tenor (%)(%) Call

10.42

0.20 10.90 1M 12.60 3M 13.25 0.76 10.79 6M 13.87 2.08 11.13 2.78 11.18 11.11 NOTE: 3.03 11.13 11.01 3.12 11.13 11.01 :Benchmarks 3.87 Bond 11.17 11.07 * :Amortising 4.95 Bond 11.29 11.22 µ :Convertible AMCON: 5.27 Asset Management 11.30 Corporation of Nigeria 11.22 FGN: Federal Nigeria 7.53 Government of11.93 11.87 FMBN: Federal Mortgage Bank of Nigeria 9.66 12.20 12.15 IFC: International Finance Corporation 14.36Contractors Receivables 12.18 12.14 LCRM: Local Management 12.19 Company12.14 NAHCO: 14.84 Nigerian Aviation Handling 15.34 12.19 12.14 O/N: Overnight UPDC: UAC Property Development 16.01 12.24 Company 12.20 WAPCO:West Africa Portland Cement Company

Offer ($/N)

Price

162.00 162.41 162.75 Offer Price 163.65 165.35 99.78 167.12 172.70 95.63 183.89 103.60

109.10 109.25 96.79 97.09 95.39 95.69 NA :Not Applicable 98.52 Rate Bond 98.82 # :Floating 117.45 coupon bonds 117.75 ***: Deferred 83.25 83.55 †: Bond rating expired 122.05 121.75 111.15 111.45 118.85 119.15 102.32 NGC: 102.02 Nigeria-German Company 74.63 Bank for Africa 74.93 UBA: United 84.40 84.70

4,455.14

**Exclusive of non-trading t.bills

Rating/Agency

Rate (%) 10.6250 12.5055 13.3937 Maturity Date 14.3374

Issue Date

Coupon (%)

Outstanding Value (N'bn)

FMDQ FGN BOND INDEX

Maturity Date

Avg. Life/TTM (Yrs)

# Risk Premium (%)

28-Dec-11 24-May-10 Weighting 03-Apr-12by Outstanding 09-Dec-11Vol 20-Apr-12 06-Jul-1235.81

0.00 0.00 Weighting 17.25by Mkt Value 0.00/16.00 0.00/16.50 35.65 0.00/16.50

978.35 24.56 3.30 Bucket Weighting 112.22 116.70 66.49 0.36

31-Oct-14 24-May-15 %03-Apr-17 Exposure_ Mod_Duration 09-Dec-16 20-Apr-17 06-Jul-1717.64

0.29 0.85 1.46 Implied Yield 2.40 2.76 11.16 2.97

1,301.620.36

36.38

11.73

1.00 2.63 Implied 2.27 Portfolio 2.00Price 1.00 117.8059 1.00 133.7125

45.98 100.00

12.23 11.86

99.1596 118.1898

1,143.10

951.30

35.75

40.29

682.87 2,837.51

756.74 2,661.11

28.44 100.00

24.07 100.00

0.28 1,262.941.00

Valuation Yield (%)

Indicative Price

11.75 13.39 13.12 INDEX 13.07 12.10 1,118.92 12.12

96.76 89.56 YTD Return 105.39 (%) 99.92 98.46 11.8916 96.00

1,132.23

13.2226

1,156.78 1,122.68

15.6777 12.2677

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

KWARA NIGER KADUNA *EBONYI *BENUE *IMO LAGOS *BAYELSA EDO *DELTA

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

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

14.00 14.00 12.50 13.00 14.00 15.50 10.00 13.75 14.00 14.00

17.00 6.00 8.50 6.08 6.27 7.37 57.00 29.92 25.00 37.25

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

0.05 0.24 1.12 0.72 1.24 1.25 2.75 1.80 3.46 2.43

1.56 3.29 4.44 3.23 4.46 3.48 5.59 1.00 1.79 1.80

12.17 14.02 15.18 14.03 15.24 14.27 16.69 11.96 12.94 12.87

100.05 99.88 97.29 99.85 98.80 101.53 85.64 102.89 102.86 102.51

40 business | CAPITAL MARKET

Daily Summary as of 18/07/2014 Printed 18/07/2014 14:58:50.050

Daily Summary as of 18/07/2014

Printed 18/07/2014 14:58:50.050

Sanctity of Truth

Monday, July 21, 2014

The Nigerian Stock Market Exchange as at July 18, 2014 Daily Summary (Equities)

Daily Summary (Bonds)

Activity Summary on Board DEBT Federal

Bond Name 16.00% FGN JUN 2019 Federal Totals

Activity Summary on Board EQTY

Symbol FG9B2019S3

DEBT Board Totals

No. of Deals 2 2

Current Price 117.80

2

Bond Activity Totals

Quantity Traded 220 220

Value Traded 260,072.36 260,072.36

260,072.36

HEALTHCARE Pharmaceuticals NIGERIA-GERMAN CHEMICALS PLC. PHARMA-DEKO PLC. Pharmaceuticals Totals

220

260,072.36

HEALTHCARE Totals

220

2

ICT Computers and Peripherals OMATEK VENTURES PLC Computers and Peripherals Totals

Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties Daily Summary as of 18/07/2014 LIVESTOCK FEEDS PLC. Printed 18/07/2014 14:58:50.050 Livestock/Animal Specialties Totals

Symbol OKOMUOIL PRESCO

No. of Deals 24 24 48

Current Price 33.01 38.00

Quantity Traded 172,173 454,601 626,774

Value Traded 5,701,387.56 17,251,675.50 22,953,063.06

Symbol LIVESTOCK

No. of Deals 41 41

Current Price 3.06

Quantity Traded 1,364,095 1,364,095

Value Traded 4,184,550.82 4,184,550.82

1,990,869

27,137,613.88

Quantity Traded 203,719

Value Traded 283,169.41

AGRICULTURE Totals CONGLOMERATES Diversified Industries

LEVENTIS PLC. ActivityA.G. Summary on NIGERIA Board EQTY

CONGLOMERATES Published by The Nigerian Stock Exchange © Diversified Industries CHELLARAMS PLC. JOHN HOLT PLC. S C O A NIG. PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals

89

Infrastructure/Heavy Construction Daily Summary as ofBERGER 18/07/2014 JULIUS NIG. PLC. Printed 18/07/2014 14:58:50.050 Construction Totals Infrastructure/Heavy Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals

Symbol AGLEVENT

Symbol CHELLARAM JOHNHOLT SCOA TRANSCORP UACN

No. of Deals 5

No. of Deals 2 7 1 278 30 323

Current Price 1.39

Current Price 3.95 1.20 4.91 5.91 62.12

323

Page Quantity Traded 876 43,029 512 24,435,282 175,282 24,858,700

INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC

24,858,700

154,757,127.84

No. of Deals 28 28

Current Price 1.26

Quantity Traded 620,974 620,974

Value Traded 791,219.34 791,219.34

Symbol JBERGER

No. of Deals 19 19

Current Price 63.00

Quantity Traded 155,720 155,720

Value Traded 9,798,993.70 9,798,993.70

Symbol UAC-PROP

No. of Deals 21 21

Current Price 17.46

Quantity Traded 549,392 549,392

Value Traded 9,729,783.04 9,729,783.04

1,326,086

20,319,996.08

Daily Summary (Equities)

68

Activity Summary on Board EQTY

Symbol DUNLOP

No. of Deals 1 1

Current Price 0.50

Quantity Traded 34,000 Page 34,000

Activity Summary on Board EQTY

1 of 13 Value Traded 3,301.76 49,059.06 2,391.04 143,536,092.13 10,883,114.44 154,757,127.84

Symbol COSTAIN

CONSTRUCTION/REAL ESTATE Totals

CONSUMER GOODS Automobiles/Auto Parts DN TYRE & RUBBER PLC Published by The Nigerian Stock Exchange © Automobiles/Auto Parts Totals

Processing Systems CHAMS PLC Daily Summary as of 18/07/2014 Processing Systems Totals Printed 18/07/2014 14:58:50.050 ICT Totals

Daily Summary (Equities)

CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Building Structure/Completion/Other COSTAIN (W A) PLC. Building Structure/Completion/Other Totals

IT Services COMPUTER WAREHOUSE GROUP PLC NCR (NIGERIA) PLC. IT Services Totals

Published by The Nigerian Stock Exchange © INDUSTRIAL GOODS Building Materials CAP PLC CEMENT CO. OF NORTH.NIG. PLC DANGOTE CEMENT PLC DN MEYER PLC. IPWA PLC PAINTS AND COATINGS MANUFACTURES PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE WAPCO PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers AVON CROWNCAPS & CONTAINERS BETA GLASS CO PLC. Daily Summary as of 18/07/2014 Totals Packaging/Containers Printed 18/07/2014 14:58:50.050 INDUSTRIAL GOODS Totals

Value Traded 17,000.00 of 13 17,000.00

2

NATURAL RESOURCES Chemicals B.O.C. GASES PLC. Chemicals Totals

Published

by The Nigerian Stock Exchange © NATURAL RESOURCES Metals ALUMINIUM MANUFACTURING COMPANY PLC Metals Totals

Symbol CHAMPION GOLDBREW GUINNESS INTBREW JOSBREW NB

No. of Deals 4 1 22 18 1 114 160

Current Price 10.17 0.71 198.02 29.50 2.58 175.61

Quantity Traded 82,257 1,240 31,047 158,433 500 1,248,179 1,521,656

Value Traded 803,381.00 917.60 6,158,819.47 4,627,342.50 1,230.00 219,092,332.16 230,684,022.73

Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals

Symbol 7UP

No. of Deals 30 30

Current Price 100.03

Quantity Traded 204,964 204,964

Value Traded 21,495,805.48 21,495,805.48

Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals

Symbol No. of Deals DANGFLOUR 38 DANGSUGAR 62 FLOURMILL 34 HONYFLOUR 46 Daily Summary (Equities) NASCON 60 NNFM 7 247

Current Price 8.01 9.30 77.87 4.30 10.72 20.50

Quantity Traded 162,446 1,631,837 114,646 1,607,654 8,578,767 317,773 12,413,123

Value Traded 1,321,967.50 15,164,302.36 8,784,667.82 6,969,637.38 92,612,590.73 6,407,722.85 131,260,888.64

Petroleum and Petroleum Products Distributors Daily Summary as of 18/07/2014 PRODUCT PLC BECO PETROLEUM Printed 18/07/2014 14:58:50.050 CONOIL PLC

Value Traded 3 5,119,030.34 of 13 132,373,646.87 137,492,677.21

DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NATIONAL SALT CO. NIG. PLC N NIG. FLOUR MILLS PLC. Activity Summary on Board EQTY Food Products Totals CONSUMER GOODS Food Products--Diversified

OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals

No. of Deals 28 50 78

Current Price 74.25 1,125.00

Quantity Traded Page 71,074 117,783 188,857

Household Durables VITAFOAM NIG PLC. Household Durables Totals

Symbol VITAFOAM

No. of Deals 56 56

Current Price 4.38

Quantity Traded 1,737,036 1,737,036

Value Traded 7,261,738.59 7,261,738.59

Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals

Symbol PZ UNILEVER

No. of Deals 64 47 111

Current Price 38.50 52.77

Quantity Traded 6,710,663 358,819 7,069,482

Value Traded 255,819,740.12 19,033,151.40 274,852,891.52

23,169,118

803,065,024.17

Current Price 9.80 6.32 16.85 1.94 30.00 3.40 2.38 8.06

Quantity Traded 15,398,945 10,966,680 864,801 139,197,289 16,504,479 8,056,037 2,980,092 4,675,213

Value Traded 150,850,275.63 69,123,606.11 14,684,188.74 264,711,574.98 495,119,992.91 26,424,669.36 6,956,810.12 37,528,577.43

NESTLE NIGERIA PLC. Food Products--Diversified Totals

CONSUMER GOODS Totals FINANCIAL SERVICES Banking Daily Summary as of 18/07/2014 ACCESS BANK PLC. Printed 18/07/2014 14:58:50.050 DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED Daily Summary as of 18/07/2014 FIDELITY BANK PLC Printed 18/07/2014 14:58:50.050 GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. Activity Summary Board EQTY UNITED BANKon FOR AFRICA PLC

FINANCIAL SERVICES Banking

Published

by TheSummary Nigerian Stock Exchange © Activity on Board EQTY

683 Symbol No. of Deals ACCESS 161 DIAMONDBNK 100 ETI 59 FIDELITYBK 122 GUARANTY 283 Daily Summary (Equities) SKYEBANK 116 STERLNBANK 64 UBASummary (Equities) 160 Daily

Page

4

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

of

13

Current Price 9.23

Quantity Traded 226,035

Mortgage Carriers, Brokers and Services INFINITY TRUST MORTGAGE BANK PLC Mortgage Carriers, Brokers and Services Totals

Symbol INFINITY

No. of Deals 8 8

Current Price 1.60

Quantity Traded 101,320 101,320

Value Traded 160,777.60 160,777.60

Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FBN HOLDINGS PLC FCMB GROUP PLC. ROYAL EXCHANGE PLC. STANBIC IBTC HOLDINGS PLC UBA CAPITAL PLC Other Financial Institutions Totals

Symbol AFRIPRUD CUSTODYINS FBNH FCMB ROYALEX STANBIC UBCAP

No. of Deals 71 20 387 62 6 22 90 658

Current Price 3.45 3.79 15.90 4.26 0.53 27.26 2.27

Quantity Traded 9,428,510 2,570,153 11,216,090 23,546,756 153,029 136,422 6,991,878 54,042,838

Value Traded 33,343,071.06 9,737,772.05 178,715,300.77 99,583,494.28 82,334.79 3,725,865.24 15,686,084.93 340,873,923.12

293,969,125

1,546,766,927.41

Quantity Traded 106,200 473,500 10,098 280,800 61,875

Value Traded 249,260.00 1,484,075.00 667,993.18 490,718.00 73,210.00

FINANCIAL SERVICES Totals Daily Summary as of 18/07/2014 HEALTHCARE Printed 18/07/2014 14:58:50.050 Pharmaceuticals EVANS MEDICAL PLC. FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC

Activity Summary on Board EQTY

Published

by The Nigerian Stock Exchange © HEALTHCARE Published by The Nigerian Stock Exchange © Pharmaceuticals NIGERIA-GERMAN CHEMICALS PLC. PHARMA-DEKO PLC. Pharmaceuticals Totals

No. of Deals 8

Current Price

2,229 Symbol No. of Deals EVANSMED 3 FIDSON 10 GLAXOSMITH 4 Daily Summary (Equities) MAYBAKER 18 NEIMETH 8

Current Price 2.35 3.16 68.99 1.75 1.24

Quantity Traded 30,940

Page

Symbol NIG-GERMAN PHARMDEKO

HEALTHCARE Totals

No. of Deals 2 1 46

Current Price 7.36 1.50

7

5

of

of

Value Traded 120,792.00 37,664.08 3,123,712.26

974,508

3,123,712.26

No. of Deals 1 1

Current Price 0.50

Quantity Traded 2,000 2,000

Value Traded 1,000.00 1,000.00

IT Services COMPUTER WAREHOUSE GROUP PLC NCR (NIGERIA) PLC. IT Services Totals

Symbol CWG NCR

No. of Deals 1 2 3

Current Price 5.00 15.20

Quantity Traded 1,000 1,850 2,850

Value Traded 4,900.00 26,714.00 31,614.00

Processing Systems CHAMS PLC Processing Systems Totals

Symbol CHAMS

No. of Deals 1 1

Current Price 0.50

Quantity Traded 3,000 3,000

Value Traded 1,500.00 1,500.00

7,850

34,114.00

Quantity Traded 1,351,416 69,390

Value Traded 44,632,783.58 604,086.27

ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC Published by The Nigerian Stock Exchange ©

5 Symbol ASHAKACEM BERGER

No. of Deals 85 11

Current Price 33.03 9.00

Page

8

of

No. of Deals 1 1

Current Price 0.50

Quantity Traded 2,000 2,000

Value Traded 1,000.00 1,000.00

Symbol CWG NCR

No. of Deals 1 2 3

Current Price 5.00 15.20

Quantity Traded 1,000 1,850 2,850

Value Traded 4,900.00 26,714.00 31,614.00

Symbol CHAMS

No. of Deals 1 1

Current Price 0.50

Quantity Traded 3,000 3,000

Value Traded 1,500.00 1,500.00

7,850

34,114.00

Quantity Traded 1,351,416 69,390

Value Traded 44,632,783.58 604,086.27

5 Symbol No. of Deals Current Price Daily Summary (Equities) ASHAKACEM BERGER

85 11

33.03 9.00

Symbol CAP CCNN DANGCEM DNMEYER IPWA PAINTCOM PORTPAINT WAPCO

No. of Deals 9 73 13 3 2 4 7 56 263

Current Price 40.10 11.80 240.05 1.20 0.50 1.47 4.92 119.01

Quantity Traded 62,437 1,507,181 79,500 15,552 6,000 310,000 76,770 902,073 4,380,319

Value Traded 2,468,199.24 17,606,326.73 19,131,275.00 19,277.90 3,000.00 455,700.00 415,235.40 107,337,341.15 192,673,225.27

Symbol CUTIX

No. of Deals 12 12

Current Price 1.80

Quantity Traded 300,000 300,000

Value Traded 547,826.00 547,826.00

Symbol AVONCROWN BETAGLAS

No. of Deals 2 2 4

Current Price 1.69 16.30

Quantity Traded 62,400 6,974 69,374

Value Traded 105,456.00 115,197.00 220,653.00

4,749,693

193,441,704.27

Quantity Traded 10,000 10,000

Value Traded 54,800.00 54,800.00

Page

279 Symbol No. of Deals Current Price Daily Summary (Equities) BOCGAS

1 1

5.76

No. of Deals 1 1

Current Price 7.75

8

Page Symbol ALUMACO

of

9

13

of

Quantity Traded 320 320

Value Traded 2,358.40 2,358.40

10,320

57,158.40

2 Symbol JAPAULOIL

No. of Deals 39 39

Current Price 0.57

Quantity Traded 3,830,995 3,830,995

Value Traded 2,183,687.15 2,183,687.15

Symbol OANDO

No. of Deals 606 606

Current Price 25.00

Quantity Traded 13,320,307 13,320,307

Value Traded 333,251,501.56 333,251,501.56

Symbol No. of Deals BECOPETRO 1 CONOIL 32 ETERNA 36 FO 75 MOBIL 27 Daily Summary (Equities) MRS 6 TOTAL 30 207

Current Price 0.50 62.32 4.30 238.00 162.22 62.43 180.00

Quantity Traded 10,000 197,729 1,162,428 134,911 164,573 32,938 65,851 1,768,430

Value Traded 5,000.00 12,344,521.94 4,919,677.98 31,650,092.08 26,697,032.06 1,879,656.28 12,171,976.52 89,667,956.86

Current Price 702.00

Quantity Traded 25,060 Page 25,060

Symbol SEPLAT

No. of Deals 11 11 863

18,944,792

442,644,691.57 Value Traded 88,191.98 88,191.98

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

Symbol REDSTAREX TRANSEXPR

No. of Deals 18 1 19

Current Price 4.89 2.06

Quantity Traded 996,166 17,642 1,013,808

Value Traded 4,871,500.01 37,753.88 4,909,253.89

Employment Solutions C & I LEASING PLC.

Symbol CILEASING

No. of Deals 4 4

Current Price 0.50

Quantity Traded 141,000 141,000

Value Traded 70,500.00 70,500.00

Symbol IKEJAHOTEL

No. of Deals 10 10

Current Price 0.75

Quantity Traded 125,300 125,300

Value Traded 91,957.22 91,957.22

Symbol DAARCOMM

No. of Deals 2

Current Price 0.50

Quantity Traded 10,000

Value Traded 5,000.00

Symbol

No. of Deals 2

Current Price

Page Quantity Traded 10,000

Printing/Publishing ACADEMY PRESS PLC. LEARN AFRICA PLC UNIVERSITY PRESS PLC. Printing/Publishing Totals

Symbol ACADEMY LEARNAFRCA UPL

No. of Deals 1 10 27 38

Current Price 1.71 1.65 4.32

Quantity Traded 500 35,615 440,963 477,078

Value Traded 850.00 58,612.70 1,901,647.41 1,961,110.11

Road Transportation ASSOCIATED BUS COMPANY PLC Road Transportation Totals

Symbol ABCTRANS

No. of Deals 20 20

Current Price 0.88

Quantity Traded 897,260 897,260

Value Traded 783,220.22 783,220.22

Symbol AIRSERVICE NAHCO

No. of Deals 13 52 65

Current Price 2.23 5.00

Quantity Traded 68,300 947,981 1,016,281

Value Traded 158,203.00 4,739,609.94 4,897,812.94

Symbol CAVERTON

No. of Deals 20 20

Current Price 6.70

Quantity Traded 438,290 438,290

Value Traded 2,936,626.00 2,936,626.00

4,203,840

15,743,672.36

374,204,901

3,207,091,742.24

Media/Entertainment DAAR COMMUNICATIONS PLC

Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals

Daily Summary (Equities)

Daily Summary (Equities)

SERVICES Totals

189

Activity Summary on Board ASeM

OIL AND GAS EQTY Board Totals

Petroleum and Petroleum Products Distributors CAPITAL OIL PLC Petroleum andStock Petroleum Products Distributors Totals Published by The Nigerian Exchange ©

Symbol CAPOIL

4,776

No. of Deals 2 2

OIL AND GAS Totals

Current Price 0.50

Quantity Traded 100,000 100,000 Page

13

Value Traded 17,541,546.00 10 of 13 17,541,546.00

Quantity Traded 84,823 84,823

Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC Daily Summary as of 18/07/2014 NIGERIAN AVIATION HANDLING COMPANY PLC Printed 18/07/2014 14:58:50.050 Transport-Related Services Totals

13

3,123,712.26

Current Price 1.05

SERVICES Published

by The Nigerian Stock Exchange © Media/Entertainment Media/Entertainment Totals

13

974,508

No. of Deals 11 11

Activity Summary on Board EQTY

Value Traded 44,227.80

Symbol OMATEK

ICT Computers and Peripherals OMATEK VENTURES PLC Computers and Peripherals Totals

46

Page

Quantity Traded 17,256 24,779 974,508

Value Traded 2,093,833.28

Value Traded 120,792.00 37,664.08 3,123,712.26

Symbol RTBRISCOE

Employment Solutions Totals Daily Summary as of 18/07/2014 Printed 18/07/2014 14:58:50.050 Hotels/Lodging IKEJA HOTEL PLC Hotels/Lodging Totals

No. of Deals 54

Symbol

OIL AND GAS Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Published by The Nigerian Stock Exchange © Exploration and Production Totals

Quantity Traded 17,256 24,779 974,508

Symbol OMATEK

OIL AND GAS Totals

Symbol UBN

UNIONSERVICES BANK NIG.PLC. FINANCIAL Micro-Finance Banks Micro-Finance Banks Totals

ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. MRS OIL NIGERIA PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Activity Summary on BoardProducts EQTY Distributors Totals

Current Price 7.36 1.50

46

NATURAL RESOURCES Totals

Symbol CADBURY NESTLE

CADBURY PLC. © Published by The NigerianNIGERIA Stock Exchange

No. of Deals 2 1 46

Activity Summary on Board EQTY

Beverages--Brewers/Distillers CHAMPION BREW. PLC. GOLDEN GUINEA BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. JOS INT. BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals

Daily Summary as of 18/07/2014 Food Products Printed 18/07/2014 14:58:50.050 DANGOTE FLOUR MILLS PLC

Symbol NIG-GERMAN PHARMDEKO

11 of 13 Value Traded 5,000.00

Value Traded 50,000.00 50,000.00 of 13

12

2

100,000

ASeM Board Totals

2

100,000

50,000.00

50,000.00

Equity Activity Totals

4,778

374,304,901

3,207,141,742.24

Daily Summary (ETP) Exchange Traded Fund

Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA GRIFFIN 30 ETF Exchange Traded Fund Totals

Symbol NEWGOLD VETGRIF30

No. of Deals 1 3 4

Current Price 2,054.00 19.49

Quantity Traded 11 2,110 2,121

Value Traded 22,594.00 41,062.90 63,656.90

ETF Board Totals

4

2,121

63,656.90

ETP Activity Totals

4

2,121

63,656.90

13

Published by The Nigerian Stock Exchange ©

Page

13

of

13

business | MONEYLINE 41

Sanctity of Truth

Monday, July 21, 2014

Mainstreet Bank makes N13.2b profit Pays N6.2b dividend

SOUND MANAGEMENT Mainstreet Bank is on the right track of becoming a top tier bank

sult in spite of the socio-economic challenges and increased competition in the Nigerian banking industry. The result clearly reaffirms that the bank is on the right track of becoming a top tier bank.”

The chairman said that management was particularly encouraged by year-on-year growth in customers’ deposit, which shows “their increasing confidence in the Mainstreet Brand.”

On the several initiatives the bank put in place to bring efficiency in the bank’s operations, its Group Managing/Chief Executive Officer Faith TuedorMatthews noted: “Within the period under review, we suc-

M

ainstreet Bank Limited has recorded growths in all its performance indices, posting a profit before tax of N13.2 billion in its group financial performance for the year ended December 31, 2013.

In the same breath, gross earnings grew to a new high of N49.6 billion in 2013, largely driven by increased interest income. Loan portfolio also surged by 63 per cent from N34.9billion in 2012 toN57 billion in 2013.

Despite the significant growth in risk assets, the nonperforming loan ratio (NPL Ratio) remained low at 3.66 per cent; well below the 5 per cent regulatory limit. The bank’s operational efficiency strategy yielded a 26.6 per cent growth in net interest margin.

Speaking at the bank’s second Annual General Meeting (AGM), which held in Lagos at Intercontinental Hotel, Chairman Board of Directors, Alhaji Gambo Ahmed, said: “This result is the outcome of strategies we have put in place in the last two years to build confidence, optimise costs, improve operational efficiency and customer service delivery.

“We have achieved this re-

T

he Central Bank of Nigeria (CBN) has commended the Osun State government and Sterling Bank Plc for the lender’s pioneering role in Agent Banking and Financial Inclusion in the country.

This commendation came on a day the apex bank advised other financial institutions to ensure that more Nigerians currently ‘unbanked’ are financially serviced.

Speaking at the Workshop organised for banks and other Financial Institutions on Financial Inclusion and Agent Banking, the CBN Assistant Director, Payment Policy & Oversight Banking Payment System, Mr

cessfully migrated to the latest version of Finacle core banking application, which has significantly improved our ability to deliver service to our customers and introduce innovative products and services.

“In addition, we have also automated many basic banking services such as account opening, funds transfer, card and cheque production etc., which has ensured that customers’ requests across the bank’s over 200 branches are promptly delivered in a standardised and predictable manner.”

She also noted that the bank has continued to focus deeply on its core business as a commercial bank through the in-

Olushola Agboola, lauded the efforts of the Sterling Bank and called for more to be done to ensure wider reach.

As a fallout of the Agent Banking Scheme, which the bank launched in Lagos last year with the former CBN Governor and current Emir of Kano, Mallam Sanusi Lamido Sanusi in attendance, Sterling Bank has empowered over 100 indigenes of Osun State and a larger number of others.

As at 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

Description

TTM

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

NIBOR

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

FX

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

NITTY

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)

approved payment of a dividend of N1 per every N1 share held in the bank, totaling N6.25billion.

This dividend will be paid to the Asset Management Corporation of Nigeria (AMCON) upon receipt of the relevant approval from regulators, a statement from the bank said.

Analysts who commented on the published year 2013 financial of the bank have commended the bank, noting especially its significant improvement in operational efficiency.

Mainstreet Bank, fully owned by AMCON, is one of Nigeria’s full service financial institutions with an array of banking services for both retail and corporate customers. The bank has undergone series of transformational initiatives in the last three year.

Financial Inclusion: CBN commends Sterling Bank, Osun

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

troduction of products and services targeted at the real sector of the economy.

“Mainstreet Bank has been severally recognised as a leading bank in supporting the Agricultural Transformation Agenda of the President of Nigeria, Dr. Goodluck Ebele Jonathan, and the Minister of Agriculture and Rural Development Dr. Akinwunmi Adesina. The effective disbursement of N10billion to Agro-dealers under the Growth Enhancement (GES) scheme has ensured we continue to touch the lives of over one million farmers as well as boost employment amongst the Nigerian youth population especially in the rural areas,” stated the bank’s Managing Director.

Following the impressive results achieved in 2013, the AGM

Bid 163.4000

Offer 163.5000 Source: FMDQ

Sterling Bank’s Head of Financial Inclusion, Mr Richard Osungboye, who also spoke at the just concluded workshop in Oshogbo, said with the collaborative efforts between the CBN and the Osun State government, the percentage of rural people yet to be captured in the financial system will reduce drastically.

He particularly commended the Osun State government’s plan to adopt the “Cooperative Model” for the establishment of MFBs as approved by the CBN. Further plans of the government include collaborating with the Microfinance Institutions (MFIs) & Deposit Money Banks to increase the number of Point-of sales (PoS) and Automated Teller Machines (ATMs) in all 30 local government councils, encourage civil servants and other individuals or companies that do business with it to use available financial institutions and establishment of Entrepreneurship Develop-

ment Centers across the state.

Oshungboye stated that conducting regular seminars on financial inclusion, regularly monitoring the implementation of various programmes in all states of the federation and undertaking necessary reviews, will go a long way to achieving the goal of ensuring a larger percentage of our population are captured under the financial inclusion programme.

He assured that the Bank would continue to take its Agent banking to rural areas to ensure wider coverage and financial inclusion.

Mr Osungboye, who described Agent Banking as the cheapest means of accessing financial services with lower transaction cost, explained that the scheme avails customers’ services, which are more accessible for the less educated, very poor and less privileged who might feel intimidated in traditional bank branches.

Keystone Bank receives PCI-DSS certification

K

eystone Bank has received a Certificate of Compliance on the successful completion of the Phillips Consulting assessment on Payment Card Industry Data Security Standards.

The Payment Card Industry Data Security Standard (PCIDSS), according to a statement from the bank, is an extensive set of guidelines developed by five of the top global payment card brands and adopted worldwide by card services providers - card issuers, banks, transaction switching companies and merchants - to better protect customers’ payment card information from compromise and fraud through increased controls around the storage, transmission and processing of card data.

Speaking during the presentation ceremony, the Executive Director, Operations & Tech-

nology, Mrs Yvonne Isichei, who stood in for the Managing Director/CEO, Keystone Bank, Mr Philip Ikeazor, said: “Keystone Bank had engaged the services of PCI-DSS Qualified Security Assessors, Phillips Consulting Ltd, to guide it through the implementation of the standard and conduct the final certification assessment.”

According to Mrs Isichei, the result of the assessment is that amongst other things, Keystone Bank achieved the “Creation of a restricted Card Data Environment within our network; the identification and sanitisation of card data from the general network environment and provision of training for our staff on card data security best practices and general awareness building on the PCI-DSS requirements.”

42 business |INTERVIEW

Sanctity of Truth

Monday, July 21, 2014

Maritime lacks skilled technical, except the one recently established by NIMASA which will take off in September. The existing Maritime Academy of Nigeria at Oron is not adequately equipped.

The contribution of Certified Institute of Shipping of Nigeria (CISN), Federal University of Technology, Owerri (FUTO), Ladoke Akintola University of Technology (LAUTECH), among others, is not adequate to produce the strategic manpower needed for the Nigerian maritime industry. Our study of human capacity requirement at CIS shows a shortfall of over 3,500 from different categories of technical and management skilled manpower required for various areas such as engineering, seafaring, maritime administration, shipping and other technical support staff.

Today in the sector, technology in our port is obsolete. Plants and machineries in our ports are very old. The port terminal operators who inherited the equipment and opportunities of managing the shipping and port services since the ports were concessioned are still facing infrastructural challenges such as storage facilities, electricity supply and handling equipment.

As I said earlier, fund is a major challenge to the maritime industry in Nigeria. The banks that are supposed to support the industry are not willing to collaborate with the stakeholders. They avoid risks. They believed that their money will sink away because shipping is highly risk intensive. This is happening in the country because of lack of maritime domain awareness and shipping. They don’t know anything about shipping market. They think it is limited to import and export. But there are over 7,500 business opportunities in the maritime industry that can be funded by banks at small scale levels where the banks can get quick returns for their investments. The parameter for giving revolving loans is almost impossible, especially the Cabotage Vessel Financing Fund (CVFF). Where is the fund? What is the bank doing with the money? Is it borrowed to the banks by NIMASA? When is the money going to be released for the intended stakeholders? The money is now running into billions of naira.

Stakeholders are not comfortable with government’s inability to support them.

Dr. Alex Okwuashi, Rector and Research Fellow, College of Maritme Transport Management and Technology in Lagos, said in this interview with Bayo Akomolafe, that technology, plants and machineries in Nigerian ports are obsolete.

He also said that despite policy inconsistence, dearth of manpower, fund, technological and institutional challenges, the maritime industry contributed the highest in the recent Gross Domestic Products (GDP) ratings.

Excerpts How would you place Nigeria in the global maritime industry?

Nigeria is a littoral state and it has a conspicuous coastline from Badagry to Bakasi peninsula. The country is rich with the preponderance of maritime resources, both underwater resources and marine trade arising from international shipping and affreightment of crude oil in Nigeria. The enormous infrastructure in the nation’s Exclusive Economic Zone left no one in doubt about the opportunities available in Nigeria. It has been noticed that Nigerian government generates over 85 per cent of its foreign exchange from maritime and allied which has its base in the opportunities at the sea. Recently, Nigerian Gross Domestic Products (GDP) moved up the ladder to become number one in Africa, arising from aggregation of maritime, oil and allied industries. An analysis of the GDP shows that oil and gas and other related trade has their roots in maritime. The cost of crude trade and other marine extractive exploitation, coastline resources, marine mining, fishing activities and tourism, among others, added to give maritime the highest contribution to the GDP. Others such as agriculture and entertainment are very little. The sector has created employment opportunity, infrastructure and urbanisation.

What are the current challenges facing the maritime industry in Nigeria?

The industry is faced with policy, capacity building, fund, technological, institutional and facility challenges. Also, there are security, environmental and safety challenges. It is a shame that up till now, Nigeria does not have National Maritime Objective (NMO). A national maritime objective of any country spells out strategic process or plan of what it wants maritime to be in the next few years. What we have instead is the individual parastatal objective. The objective of these government agencies are competing with one another. What we have in the country is a mere aggregation of jurisdiction by different agencies such as the Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Shippers’ Council (NSC) and National Inland Water Authority (NIWA) sharing the maritime administrations, whether they have capacity or not. Some parastat-

Okwuashi

als have become too big to handle what they could handle. However, policy inconsistency has slowed down since the merger of National Maritime Authority (NMA) and Joint Maritime Industrial Labour Council (JOMALIC). Cabotage Act is failing today because NIMASA was not meant to implement cabotage. Al bi nitio, it was a baby of NMA. Cabotage is not the focal point. This is why 11 years after, Cabotage Act is neither here nor there. Added to this is non-availability of capacity building mechanism. Cabotage is a capacity building process. It is meant to empower the local ship owners.

A critical look of the cabotage revealed that the policy meant that a ship must be wholly built and crewed by Nigerians.

But this is not possible without viable ship yards where the ships can be built and repaired.

Another challenge is that the institutions where human capital for the sector could be developed are lacking. There is no maritime university in Nigeria

Our study of human capacity requirement at CIS shows a shortfall of over 3,500 from different categories of technical and management skilled manpower required for various areas

What is your opinion on Nigerian water security?

Everybody is aware of the maritime security in the country’s water today.

The country is facing constant threat from sea robbers, smugglers and pirates.

The issue of security is exclusive to the Federal Government and there is the need to empower the Nigerian Navy by equipping them with necessary tools.

The nation cannot afford to entrust security into the hands of individuals.

But we are happy to say that the Nigerian Navy is equal to the task. I solicit for more security apparatus for them to enable them function effectively by providing frigate, platform, satellite, coastal radar and unmanned aircraft. Speed boat should also be provided for search and rescue purposes as well as proper training for the naval personnel to carry out the function of maritime security along with the maritime administration staff. This is what the Memorandum of Understanding between NIMASA and navy is all about.

How can the maritime security be implemented?

Under the maritime security, it is expected that the implementation of ISPS code should be carried in three core areas - port facility security, ship security and company security. Maritime stakeholders like port operators and agencies are expected to key into the plan for the

business |INTERVIEW 43

Sanctity of Truth

Monday, July 21, 2014

management manpower, says expert there are limited chances abroad and countries like Malaysia, Singapore and others are now in human capital exportation, they train students and turn them out to earn foreign exchange and these are countries that have the technology.

Nigeria should follow the same step by training its people. Though, I see Cabotage as our saviour only if we can allow government to support capacity building in ships acquisition because no single individual can afford that kind of money to acquire new ship depending on the type we are talking about. How many indigenous ship owners can afford that?

Not even bank because they are always very cautious of financing that kind of project, but government have the money, look at the money they are packing away.

What government should do is to enter into agreement with private firms.

In advance countries, government will buy the ship and set up a consortium of ship managers according to their specialisation, those in tanker, Roll on Roll off, and other kind of ships.

That is the only way we can develop our capacity and as we are doing it we are developing capacity financially so that this group who form consortium will be empowered, so, until we do such thing, our maritime industry will continue to be dominated by foreigners.

BIODATA Work Experience: Rector and Research Fellow, College of Maritime Transport Management and Technology, Lagos.

Registrar, Certified Institute of Shipping Nigeria (CISN), doubling as Chairman of Charter Committee CISN 2001-2009.

Chairman Oshimili North LGA Delta State.

Group Managing Director, Delta Ocean lines & Marine Services;

Commercial Manager, Globe Shipping Lines Apapa;

Operation Manager, shipping-freight forwarders. Age & Bawora Nig Ltd ;

Nigerian Bank for Commerce & Industry, Lagos.

Years of Experience: 46

security of ports and platforms safety and environment. This has to do with International Maritime Organisation conventions such as Safety of Life at Sea (SOLAS) and International Convention for the Prevention of Pollution from Ships (MARPOL) conventions. We have observed professionally that Nigeria is still toying with the issue of safety and environment by not complying and enforcing this due process required by IMO. The current anthropogenic activities within urban area of port such as ships, oil companies and industrial wastes have degraded the marine environment to the extent that one begin to ask questions: Are the activities of companies and individual regulated?

What is the Port State Control of maritime administration is doing? It has been noticed that institutions within the port have not complied with the use of port reception facilities. The port terminals are still dirty with fluid and grease. What is the Port State doing?

Are you saying that the marine environment in the country is bad?

Vessels are still discharging ballast water into Nigerian waters.

Besides, there are wrecks, derelicts and abandoned ships seen all over places. One would ask that what is the maritime administration doing? We believe that some of the challenges we are having in the industry are soluble if the relevant agencies will play their parts.

In what ways do you think that the private institutions are supporting the industry?

In the area of manpower, the private sector has been supporting the industry through capacity building. For instance, the Certified Institute of Nigeria (CIN) over the years have been training shippers, technical staff, shipping operators, marine administrators. The institute has also partnered with Ladoke Akintola University of Technology and other universities to run post graduate diploma and master’s degree programmes in transport and shipping management, logistics and port management. Also through the Joint Admission and Matriculation Board (JAMB), the school runs diploma in marine engineering and maritime security programmes.

Now the institute is pushing to upgrade its programmes into a university status.

What informed the decision to seek university status?

The school has-been existing for 14 years and we have studied the maritime industry and the need to acquire the professionalism in running maritime business in Nigeria spurred us. We have realized that there is the need to

Okwuashi

go beyond where we are presently and we know that there are no shipping curriculums in Nigerian universities and if we continue to wait for universities to introduce shipping, it will take us a long way. That is why we think there should a maritime university where all aspects of shipping will be studied. We want to bridge every area we are lacking manpower in the industry. So, in the next five years we will be able to turn out the first graduate with Bachelor of Science in shipping.

It will surprise you that no Nigerian university is running degree in shipping after about fifty years of independence as a country. What we are after in CIS is to establish a university that will have all programmes in maritime shipping.

NIMASA established Maritime University in Okerenkoko, Delta State. Do you think there was a need for that?

Government created Oron, so, why another maritime university when the existing academy is ill-equipped. Why can’t they make Oron a multi campus university instead of creating a new one?

Why can’t government look out for reputable privately-owned maritime academies like CIS and affiliate them with Oron? They would have spread maritime education. What this would have cost government is just a little support for the private academies.

During our matriculation, we invited

Our study of human capacity requirement at CIS shows a shortfall of over 3,500 from different categories of technical and management skilled manpower required for various areas NIMASA, Shippers’ Council and the Nigerian Ports Authority, (NPA), but they did not come, but once they run into problems, they begin to call for seminars. That should not be the issue, what should concern them is how to train people so that before long Nigeria can begin to raise professionals that will take care of the industry.

Indigenous ship owners are facing problems in the industry to employ maritime graduates. What do you think government should do?

Capacity building in the industry is lopsided because we don’t have the ships, technological equipment and other facilities. We are training, other countries are also training for their people, so

What is your assessment of cabotage regime? Do you think Nigeria can compete with foreign shipping lines with Cabotage in place?

We can’t compete with foreign companies because we don’t have the infrastructure, the ship and the equipment, neither do we have the tonnage because Cabotage says use, crew and maintain.

First, we need to acquire ships to build; we don’t have a ship building industry, so how will Cabotage work? The problem of Cabotage is not the waiver clause. The clause is there so that the industry will not ground to a halt, the waiver clause is there so that if we don’t have any capacity internally there should be a clause that will allow foreigners to come in to avoid problems in the sector. Waiver is not the problem, Cabotage was enacted in 2003 and this is 2014, so if 10 years after cabotage and it is not working, then the parameter of establishing Cabotage is faulty. If we want to develop Cabotage, there must be ship yard, we must have enough naval architect, ship builders, even if we want to relax on those things, government should have interest because government must support those institutions to grow, even institution like CIS that contribute immensely to the industry must be supported.

CIS school is enough to be a university, there are some schools outside Nigeria that do not have this type of space we have, having a large expanse of land in a place like Lagos. So in this country, we have institutional problem, political problem and this makes things difficult in the industry.

What is the way out of these problems?

This is what I referred to as maritime quagmire. The way out of this quagmire is that government should rethink and come to the aid of this sector that happened to be the second revenue generating sector in the country. Government should syndicate a loan for ship managers so that we can buy some of the vessels, especially tankers, whether crude or petroleum tankers, because that is the goldmine for Nigeria.

It will be difficult to compete with foreign vessels, Maersk Line vessels bringing electronic into the country. We should emphasis shipment of crude oil out of Nigeria because our refineries are not working so we are importing instead of exporting.

44 business | INVESTMENT OPPORTUNITIES

Sanctity of Truth

Monday, July 21, 2014

Importance of location to business success

T

he world is changing rapidly, hence businesses which apply innovative ideas and technologies can benefit from new markets and drive economic growth.

Where you base your business could be more critical than you think to its long term survival and success.

Although you could start a small or medium scale business from the comfort of your home but before long, decide whether this is the best location to access the infrasture, resources and relationships you will need to grow and develop the business to its full potential.

Become more innovative: Innovation is a major prerequisite to succeeding in the 21st century business world, Most technology-based business are born from specific innovation that is new to the market at that point in time.

But to stay ahead of the competition and be able to enter new markets they must continue innovating and advancing their products and services.

To become more innovative it is imperative that your company’s research and development team will benefit more by collaborating with relevant university department or research institute, these partnership may be on a short-

place to live and work.

term consultancy or even a long-term research project, or often just for access to the best brains and expertise or specialized and generally very expensive – scientific equipment.

Location is crucial here because being close to the institution and university environment or campus itself will help build the best relationship possible, both in terms of breeding fresh, innovative thinking and providing convenient access to specialist facilities.

Employ and retain the best people: A growing business will require an increasing number of qualified and experienced staff. The choice of location will have a major bearing on the company’s access to an appropriate talent pool and it’s ability to retain staff The best supply for any specialism in terms of quality and quantity in generally available where universities have a renowned track record and where corresponding duties of large and small companies has developed leading to the creation of a sector hotspot. Situating you company around the campus environment will ensure continual access to fresh graduates and post graduates, this enabling environment may also pro-

Gaining competitive advantage through relationships For practical and cost reasons, being near to market, or supply of raw materials, used to be the primary factor in determining the optimum business location.

Today, for knowledge based companies, competitive advantage is less about cost and more about gaining technology, market ,and customer insight for business growth and sustainability. Although the social media platforms are good but time has proven that there is no substitute for real contact with people when relationships are important, and hence co-location with the company’s first choice of partners is highly desirable.

Ogbeide

vide real career development opportunities, which are vital to retaining the best talent in the field.

Lifestyle considerations are as important in location choice as academic reputation and commercial requirement.

The most attractive locations will offer a pleasant working environment and proximity to major areas, giving employees a choice of lifestyle. Indeed the campus environment is unarguably the most desirable

All the infrastructure you need; Back to basics, every business needs suitable transport links to reach partners, suppliers and customers, so the ldeal location should provide good road, rail, sea and air network linking it nationality and overseas. This is why Lagos State remains one of the best cities to locate your business in Africa.

If the company has future plans to extend their operation overseas, it would make good business sense to operate from a location near a

well connected international airport or even sea port. Proximity is always advantageous.

The level of scope of business support on offer in a chosen location can also influence the company’s prospect. Business advice and capacity building, initiatives from well groomed consultants and industry experts can make a big difference in terms of business success.

Funding is part of infrastructures needed for smooth running of the wheels business . The availability of professional services including legal, accountancy and corporate finance is another important consideration in location choice. As the business grows it is likely to demand professionals support at higher level and some locations offer more choice than others, also with requisite skills and sector experience a business will do well.

Freedom To Grow: A growing business often requires the freedom to move into bigger premises at relatively frequent intervals.

Mr. Emmanuel Excel Ogbeide is a professional business consultant, Coach and Syndicated columnist, he is the MD / CEO of Business Builders Limited. You can contact him via email excelogbeide@yahoo.com

global NEWS

BRICS’ new financial institutions could break long-standing, harmful monopoly Mark Weisbrot

B

ack in 1998, when middleincome Asian countries were hard hit by big capital outflows, there was an effort – joined by China, Japan, Taiwan and other countries - to put together an Asian Monetary Fund to offer balance of payments support. Washington vetoed the idea, insisting that all assistance had to go through the IMF. The result was a mess, including an unnecessarily deep regional recession, as the IMF failed to act as a lender of last resort, and then attached all kinds of harmful and unnecessary conditions to its lending.

But the world has changed a lot in the past 15 years. Last week the BRICS countries (Brazil, Russia, China, India, and South Africa) decided to form the Contingent Reserve Arrangement (CRA) and the New Development Bank (NDB), and the United States will not have a veto this time. These new institutions have the potential to become a game changer for the world economy.

The western media coverage of these events has been mostly dismissive, but that primarily reflects the concerns of Washington and its allies. They have

had unchallenged sway over the decision-making institutions of global financial governance for 70 years, and the last thing they want to see is competition. But competition is exactly what the world needs here.

The IMF and World Bank were created in 1944, when the U.S. was pretty much the only standing industrial power in the world, and they mirrored that reality. Today Washington still controls both institutions with the subordinate partnership of a handful of rich country allies; the same is true for the G-7, 8, and 20. In recent years, as the Eurozone has become the recipient of most IMF lending, the European directors have of course been given the predominant voice on policies in this region; but it’s still the same group of countries in charge.

And even the WTO, which was formed in 1995 and has a different (consensus) process, the founding rules were written by the rich countries – and in this case, especially their corporations (PDF).

For decades there have been efforts to give the majority of the world a voice at the IMF and World Bank, but progress has been glacial at best. The BRICS countries have more than 40 percent of the world’s population and China is now

the world’s largest economy, but they have almost no voice at the Fund and the Bank. To say that an alternative has been long overdue is an understatement.

The BRICS NDB has gotten the most attention, but the $100 billion currency reserve fund could prove to be a much bigger breakthrough. For low-andmiddle-income countries, one of the biggest constraints and sources of potential instability is the balance of payments.

They must have enough dollars or other hard currency to finance imports, and enough international reserves to insure against a panicked flight from their currency. Otherwise, the economy can fall into a crisis, recession, or other devastating economic imbalances. The Asian financial crisis in the late 1990s was a devastating example, and most of the damage might have been prevented with timely balance of payments support.

But the IMF’s harmful macroeconomic conditions have continued to this day: just look at Ukraine, where the economy is shrinking by 5 percent this year and the IMF is imposing austerity that will prolong and possibly deepen the recession.

An examination of IMF policies during the global recession of 2009 showed that 31 of 41 coun-

tries with IMF agreements were subjected to pro-cyclical macroeconomic policies, i.e. policies that could be expected to worsen an economic downturn or impede recovery. And although the Fund is only the junior partner in the Troika, together with the European Central Bank and European Commission they have dragged Europe through years of unnecessary recession and the collective punishment of mass unemployment, and that has hurt most of the global economy – including the BRICS and other developing countries.

The BRICS’ defection is part of a process that has been taking place over the past 15 years, in which middle-income countries have accumulated sufficient reserves to vote with their feet and break out of the IMF’s orbit.

Although most economists and most of the major media have ignored it, the IMF’s loss of influence over economic policy in most middle-income countries is one of the most important developments in the international financial system in the past half century. It has almost certainly contributed to the rebound of economic growth in most developing countries over the past decade. It is also, not coincidentally, a huge loss of influence for the U.S. government, which has traditionally

used the IMF’s creditors’ cartel for its own imperial purposes.

The BRICS’ new CRA has the potential to break the pattern not only of US/EU dominance but also the harmful conditions typically attached to balance of payments support. It could prove to be very important in the next few years: a lot of money has poured into emerging market government bonds since the Fed set short-term interest rates at zero more than five years ago. A lot of it could get up and go when the Fed decides to raise interest rates here – this was a major cause of the Mexican peso crisis in 1995 and hit other countries such as Brazil and Argentina a few years later. The BRICS countries have indicated that they are open to other countries joining. China has about $4 trillion in reserves, so they have the potential to contribute vastly more and probably still come out ahead, as most of their reserves will likely be losing money in U.S. Treasury bonds. There’s no telling how soon this new fund will be up and running, or how big or inclusive it will grow to be.

But the upside potential for the world economy is very big.

This article was published by Al Jazeera America on July 18, 2014.

NEWS 45

Sanctity of Truth

Monday, July 21, 2014

PDP will accept Mimiko’s return, says party chief open door

Ondo PDP ready to embrace Gov. Mimiko anytime he chooses to rejoin the party

Babatope Okeowo Akure

T

he Peoples Democratic Party(PDP) in Ondo State has expressed its readiness to accept the state Governor, Dr Olusegun Mimiko into the party should he express his desire to join the party.

The Publicity Secretary of the party, Chief Wale Ozogoro, told reporters yesterday in an interview that the party more than before, was ready to accept more people, including the governor into the party without any form of discrimination.

Although Mimiko has

31.8%

not said he wants to rejoin the party he left in 2006 for Labour Party (LP) to contest the governorship election, Ozogoro, however, said the party is on a membership drive to woo as many as possible into the party.

However, he said the party has to manage all new people coming into the party so that they could imbibe the spirit of PDP. His words: “I want to be sincere with you that even before Chief Olusola Oke contested election in 2012, there had been rumours that Dr Mimiko was coming to join the party and we have said it severally that Dr. Mimiko should come back to the party, if he wants to come to PDP because it is free entry and free exit.

“There is this law that gives room to free association, but the basic thing is that even if the governor decides to come

The percentage rise of capital importation of Nigeria in 2011 over the preceding year.

Source: National Bureau of Statistics

to the party, there's a need to manage him and there's need to change his thinking and perception on issues to key into the philosophy of the PDP because the philosophy of the PDP is different from the philosophy of any other party and that's why you see people now moving from other parties to PDP. “Take for instance what happened in Ekiti, people moved from APC, LP to PDP because they have seen the very sharp difference between PDP and other parties. When PDP came into South West in 2003, people were able to see the difference.”

The party spokesperson said the ability to solve internal dispute marked the party out from others, saying the influx of many people would be managed by the hierarchy of the party.

His words: “I want

$US1.6trn

The nominal GDP of Spain (World Bank) in 2009.

Source: Blatantworld.com

you to know that PDP has this potential of resolving crisis; the party is known for that and I believe we will use that mechanism to absorb some of this shock based on the influx of people that are hoping to come in into our party .

“I believe very sincerely that we have that potential both at the local government, state and the federal level that we will be able to absorb it.

You are aware of what is happening in APC but because they don't have that potential for absorbing crisis, things are tearing apart . Look at the crisis of the PDP when some governors left the party , you realize that PDP is getting stronger, and we are not thinking of what has happened in the past but we are thinking of the future; how we are going to win election come 2015 and that's our thinking now," Ozogoro.

25.66

The average age of the Belgium team in the just concluded Brazil 2014 World Cup. Source: Goal.com

Ekiti referendum result, null and void Adesina Wahab Ado-Ekiti

he Peoples DemoTEkiti cratic Party (PDP) in State has warned

the House of Assembly against considering whatever result is presented to it from last Saturday's referendum on the creation of new local development council areas by the Ekiti State Independent National Electoral Commission (EKSIEC).

The party, in a statement by the Publicity Secretary, Pastor Kola Oluwawole, in Ado-Ekiti yesterday, based its call on the fact that the Assembly had been served notice of the suit filed by it challenging the said exercise.

The PDP added that its suit, filed on behalf of the party by the State Chairman, Mr Makanjuola Ogundipe, was duly served on the Assembly and that the appropriate thing to do in line with

...PDP chieftain demands apology from party Adesina Wahab

Ado-Ekiti

Democratic AAdoPeoples Party (PDP) leader in Local Government, Chief Bosun Osaloni, has demanded an unreserved apology and retraction from Ekiti State Executive Committee of the party over the listing of his name among members who have defected to other parties.

In a letter by his counsel, Wole Iyaniwura and Company, dated July 18, 2014, a copy of which was made available to our correspondent yesterday, Osaloni gave the party seven days to retract the publication in which his name was listed as a defector.

He was reacting to a

L-R: Former wife of Kogi State Governor, Aisha Emeje; Director, Policy and Implementation, Federal Capital Territory (FCT), Aina Emmanuel and Proprietress, Tophill Schools, Kate Nomwhange, at a dinner/launch of the special edition of a magazine; “The Search Light” in Abuja… at the weekend.

PHOTO: ELIJAH OLALUYI

Kunle Olayeni Abeokuta

T

he National Auditor of Peoples Democratic Party (PDP), Alhaji Adewole Adeyanju, has said that the All Progressives Congress (APC) would pay dearly for taking the people of South West zone for granted in the 2015 general elections.

Adeyanju also said the PDP was determined to restore good governance to the zone through people-oriented programmes, which according to him, had taken flight in the region.

He spoke during a

Adeyanju: APC 'll pay for taking South-West for granted special breaking of fast (Iftar) held last Saturday for Muslim faithful at his residence in Abeokuta, Ogun State capital.

According to the PDP national auditor, the APC-led governments in the South West had not only taken people of the zone for granted but also failed to incorporate the human element in developmental efforts.

He, however, noted that the APC had paid for its alleged negligence

with the results of the June 21 Ekiti State governorship election, where the PDP candidate, Mr. Ayo Fayose, defeated incumbent Governor Kayode Fayemi.

Adeyanju said, "When we are running government, it is not good to take our people for granted. Development should start with the people.

If people are hungry, I don’t know the type of government that we are running. If people are

not well-fed, they cannot walk on the roads. If people are not well-fed, they cannot ply the bridge.

"Please, all the governments we want to run, let’s first make the welfare of the people a priority. But unfortunately, in the South West, the governments there have taken us for granted too much and I can assure you they are going to pay for it and they have started paying with the result of Ekiti State."

the custom of a legislative body was to stay action on such matters.

"The proof of service on the Assembly is there and the Assembly leadership knows the right thing to do, stay action on any matter in court until such is determined by the court.

"The legislators must know that as lawmakers, they must not act and behave as lawbreakers. We are aware of the pressure being mounted on them by the leaders of the All Progressives Congress (APC), but they must act as men and women of honour and integrity and to also note that posterity will judge everybody.

According to Oluwawole: "What the APC lost, that is the support of the people to win election, which was shown on June 21 when it was roundly defeated in the governorship poll, it craves to have through the back door. Sorry, that is not possible."

publication in a national daily on July 17 in which he was listed among those who have left the PDP for other parties.

His protest letter was sent to the State Chairman of the PDP, Mr Makanjuola Ogundipe, and copies sent to the National Chairman, Alhaji Adamu Mu'azu; the National Vice- Chairman, South-West, Chief Ishola Filani; Ekiti State Governor-Elect, Mr Ayo Fayose, among others.

Osaloni said he had always been a financial member of the party since the advent of the Fourth Republic and that the PDP had always emerged victorious in Ward Two, Odo-Ado, AdoEkiti where he is a leader of the PDP.

Jonathan pursuing ambition wrongly, says Afonja descendants boss Biodun Oyeleye Ilorin

enowned social critic RDescendants and President, Afonja Union, Ilo-

rin, Alhaji Olola Kasum, has blamed President Goodluck Jonathan for allegedly employing unlawful means to pursue his 2015 re-election.

Olola-Kasum, who agreed that Jonathan has every constitutional right to seek second term bid without any hindrance from any quarters, lamented however, in a statement issued in Ilorin, Kwara state, that Jonathan was pursuing his ambition against the rule of law.

He accused Jonathan

of "bastardising all constitutional structures and democratic processes to achieve his legitimate right", adding that the president "is fighting for his right against the rule of law and due political process."

The statement also described as an irony of history that the Ekiti governor – elect, Mr Ayo Fayose who was himself a victim of the undeserved impeachment by former President Olusegun Obasanjo administration is now leading a campaign of calumny for impeachment against popular and faultless All Progressives Congress (APC) state governors.

46 NEWS loss

So much money to recover, Nigerians miss their national carrier Wole Shadare

P

resident of Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) Benjamin Okewu has said that it was important for Nigeria to set up a national airline in order to curb losses in the aviation sector.

Speaking to reporters yesterday, Okewu said Nigeria had lost huge amount of money through the Bilateral Air Services Agreement,

19%

Sanctity of Truth

Monday, July 21, 2014

Lack of national airline hurts Nigeria, says Union leader BASA, as there were no national carriers that fly major routes out of the country.

Okewu noted that other foreign airlines have taken advantage of the absence of a national carrier to exploit the country's aviation sector.

He advised the government to discard the idea of forming a national carrier from existing airlines but to come up with a new airline entirely.

"Without our airlines flying into other countries from Nigeria, we are losing a lot of money.

The percentage share of hydropower energy production of total electricity production.

Source: Unesco.org

There is need for a new national carrier. The government should stop carrying from the existing airlines to form national carrier. We need a new airline not from the existing fleet."

He urged the new aviation minister to complete all ongoing projects started by former Minister of Aviation, Stella Oduah, adding that there was no need to abandon the projects.

Okewu noted that the country would have been building new airport terminals had past ministers taken the initiative

187,900

The total number of internet users of Brunei in 2007.

Source: Blatantworld.com

instead of the remodelling that is now taking place.

Speaking in the same vein, aviation expert, Chuks Iwelunmo, lamented the absence of national carrier in the country of over 170 million people and urged the union to continue the struggle of putting things right in the aviation sector.

He noted that the aviation sector in Nigeria has continued to dwindle as a result of bad policies, adding that policy formulators do not carry stakeholders along.

60

The number of time (in seconds) that a family is displaced inside Syria.

Source: Unhcr.org.uk

Mark denies PDP/APGA accord in Anambra Chukwu David Abuja

of the Senate, Phasresident Senator David Mark described as a fallacy

the speculations that the Peoples Democratic Party (PDP) has traded off some Senatorial and House of Representatives seats to opposition parties ahead of the forthcoming 2015 general elections.

Mark made this statement at the empowerment Programme of Senator Margery Okadigbo, representing Anambra North Senatorial District, where she distributed vehicles, ambulances, motor cycles, refrigerators, sewing machines and other house hold utensils to about 700 beneficiaries within the district.

Addressing PDP stakeholders at Nteje, Oyi Local Government Area of Anambra State at the weekend along with his Deputy, Senator Ike Ekweremadu, against the backdrop of rumours that National Assembly seats in the state have been traded off to the All Progressives Grand Alliance(APGA) in an alleged accord to get the party's support for 2015, he said it was false and unfounded.

"There is no such deal with any opposition party anywhere. Nobody should deceive you into believing that PDP has an agreement with any opposition party. PDP has a manifesto and only elected PDP candidates can implement it", Mark stated.

Doctors' strike: JOHESU demands health minister's removal

Kunle Olayeni Abeokuta

ealth workers under the HSector aegis of Joint Health Unions (JOHESU)

at the Federal Medical Centre, Idi-Aba, Abeokuta, have expressed displeasure at the handling of the ongoing medical doctors' strike by the Minister of Health, Professor Onyebuchi Chukwu.

The union described the industrial action embarked upon by Nigerian Medical Association (NMA) as "ego-based" and accused Chukwu of unnecessarily pandering to the whims of doctors at the detriment of other professionals in the health

sector.

Speaking yesterday about the incessant conflicts in the nation's health sector, the chapter's chairman of JOHESU, Comrade Samuel Idowu, lamented that medical doctors had always wanted to dominate other health workers.

He bemoaned a situation where the Federal Government had "continued to over-pamper doctors," saying many demands of the NMA over the years had not been for altruistic purposes.

He dismissed the doctors' demand for the position of Deputy Chairman, Medical Advisory Committee, in teaching hospitals as an absurdity.

World Bank set for NER Kenneth Tyohemba L-R: Chief Executive Officer, Swiftthink Limited, Ayoola Jolayemi; Emmy Award Winning CNN Correspondent, Gina London; Founder, Richmond Johnson Academy, Richie Dayo Johnson and Head Trainer, Amplio Consulting, Ayo Owodunni, during the FIND YOUR EDGE Student Communication Summit in Lagos

PDP zones governorship to Abia South, denies selection Igbeaku Orji Umuahia

T

he Abia State caucus of the Peoples Democratic Party (PDP) has resolved that the 2015 governorship position be zoned to Abia South. That is with the North and Central zones having taken their slots.

The meeting was chaired by the state Deputy Chairman of the party,

Chief Allen Nwachukwu, who also addressed the press. He said the decision was to allow the zone to have a taste of the position because, “We believe in equity.”

In attendance at the meeting New Telegraph gathered, were Governor Theodore Orji; Minister of Labour, Chief Emeka Wogu; some members of the state executive council and the House of Assembly. Some members of the

House of Representatives were also sighted while no senator attended.

Briefing newsmen on the outcome of the meeting held at the Government House Umuahia, the PDP Deputy Chairman described a newspaper report of a purported governorship selection committee as false, saying that there is nothing like that in the state. He added that the governor did not set up any such committee.

Again, Fashola battles Apapa gridlock Muritala Ayinla overnor Babatunde Gyesterday Fashola of Lagos State visited Apapa

for the third times in two weeks with a promise to end the perennial vehicular congestion that has turned the roads in

the axis to nightmare for many motorists.

Fashola's vow was coming following the constant traffic gridlock on the axis which seems to defy all solutions. He said his administration was determined to proffer lasting solution to the

gridlock.

He said: “This is clearly a multi-agency problem involving the agencies of the Federal Government: Nigeria National Petroleum Corporation(NNPC), Federal Ministry of Works and ports managers.

“We know where it comes from. They are the enemies of the party; the enemies of progress of Abia State. We are strong here; we are fully in control. The PDP will deliver again come 2015. We will also repeat our past result, House of Assembly, Federal House and Senate, Governorship and Presidential. So, you can see what we are enjoying in Abia State " Nwackukwu said

Abuja

World Bank has conTforhecluded arrangements the launch of the Ni-

geria Economic Report (NER).

Communications Associate of the World Bank, Bamidele Oladokun, said yesterday in Abuja that the event, which is the second edition of its kind, would provide an evaluation of Nigeria’s economic progress and the standard of living of its citizens.

Oladokun, in a statement, said the event will hold tomorrow.

According to him, “The

NER is a publication of World Bank, which looks at the general macroeconomic assessment of the Nigerian economy”.

He explained that “Preview of this edition re-evaluates poverty and leaving standards in Nigeria based on the new data obtained, and will be presented by World Bank lead economist and author of the report, John Litwack”.

World Bank says, “the contrast between urban and rural areas in the new estimates with respect to poverty is striking, and suggests urbanization to be a primary driver of poverty reduction in Nigeria.

Dangote donates N30bn in two years' richest person The group, which has its Foundation has doled Atopfrica’s and the continent’s made donations across out about N30billion in donor, Aliko Dan- Africa said, “Africans humanitarian gesture. gote, has announced that he is upping his philanthropic works across Africa, starting from his home country Nigeria, a statement from the group said.

must begin to take responsibilities by shaping the condition of its people.”

The statement said within two years only, the Dangote Group through

“This is including the Dangote Academy that is worth about N1billion, through which manpower is developed across various disciplines” the statement said.

47

Sanctity of Truth

Monday, July 21, 2014

APC not a Muslim party, says former Navy chief Ibraheem Musa

Kaduna

All Progressives Ta he Congress (APC) is not Muslim party, but a po-

litical party that has all Nigerians irrespective of their religious affiliations in its fold, former Chief of Naval Staff, Vice-Admiral Ibrahim Ishaya Iko, said yesterday.

Speaking to newsmen, the former naval chief, who hails from Southern Kaduna, also explained why he joined APC and not the ruling Peoples Democratic Party (PDP). He argued that APC remains the

Benue State Governor, Gabriel Suswam (middle), with members of the committee on Conflict Resolution and Peace Building, after submitting the report on the Fulani/Tiv crisis to the governor in Makurdi…at the weekend

Boko Haram: 2,300 displaced people camped in Biu Ahmed Mirin Ga and Sabiu Mustapha

o fewer than 2,300 people have been displaced by Boko Haram insurgents in Daboa, Sabon Gari, Madargirau and Mandafuma villages of Damboa and Biu Local Government areas of Borno State, following the recent attack on the villages by the terrorists last week.

The Internally Displaced Persons (IDPs) are camped in three camps of Biulamel, Bariki and Mini Haha primary schools camps in Biu, the headquarters of Biu Local Government.

Borno State Deputy Governor, Alhaji Zannah Umar Mustapha, who visited the camps in Biu, directed that the IDPs should be relocated to Government Girls Secondary School, Biu for better and conducive accommodation.

This was as reports

N

from Jalingo, the Adamawa State capital, yesterday said there was fear of epidemic outbreak in the camp of the internally displaced people in the state.

Southern Taraba, particularly Wukari and Ibi Local Governments were last month embroiled in crisis leading to the displacement of hundreds of thousands of people in the area. According to a report released recently by the National Emergency Management Agency (NEMA), over 50, 000 persons were displaced as a result of the crisis, which claimed hundreds of people.

But the Borno State deputy governor assured the displaced people that government is doing everything to provide security to the area, assuring them that the government will come to their aid.

He also directed the Chairman of Biu Local Government, Alhaji

Mapi, to provide them with their immediate needs in camp.

The deputy governor, who just returned from Saudi Arabia, moved directly to Dile, Kautikari, Mandafuma, Madaragirau and other villages attacked by the insurgents in their recent offensive, to sympathise with them.

A resident of Dille, who did not want his name in print, commended the deputy governor for his courage and commitment to the plight of the common man, saying that since the attack, the security operatives were even afraid to visit the area.

But when our reporter visited the Jalingo camp at the Muslim council secretariat, it was gathered that the IDPs were facing lots of challenges.

Apart from food shortage in the camp, there was also the problem of inadequate mat-

tresses and blankets for the over 5000 IDPs, who are mostly women and minors.

This has compelled majority of them to be sleeping on the floor, because the conference hall of the secretariat, where the IDPs sleep at night and the tents installed by NEMA at the camp cannot accommodate them all.

Another major challenge faced by the IDPs in Jalingo and other centres include lack of drugs at temporary medical units established by the Red Cross.

Though, there has not been any report of outbreak of epidemic, there was fear that if the situation is not addressed early enough, there may be such in the camp and other centres as the number of people falling sick is going up every day even in the face of inadequate drugs and other essentials.

Yakowa didn’t loot public funds, says former aide Ibraheem Musa

Kaduna

F

or mer gover nor of Kaduna State, Patrick Ibrahim Yakowa, ran a transparent and an open government that was devoid of discrimination, his former Principal Private Secretary, Mr. Timothy Barau Gandu, said yesterday.

Gandu, who spoke against the backdrop of insinuations that Yakowa left an empty treasury when he died, de-

scribed his former boss as the most experienced governor in the history of Nigeria. He also said that the late governor’s astuteness in governance and administration was second to none.

The former private secretary, who made this known while unveiling his leadership centre, Jheyah Educational and Entrepreneurial Resource in Kaduna, said he still shed tears for Yakowa every day. “But rather than continuing to shed tears, I have cho-

sen to tell myself that I should do something to give his soul joy,” he added.

Gandu, who later served Yakowa as commissioner for economic planning, said Yakowa’s vision and sincerity to governance is embedded in the project.

He said Yakowa was an orphan, adding that; “It was a sister that took care of him and yet, without a father, acquired godfathers as he moved on in life, they loved him because

they saw a hardworking man and they rushed for him, yet he followed all the processes in the civil service.

“He never jumped from one level to another; he rose from Levels 08 to 17 in the service. He took his time and followed the rules. You cannot say Yakowa was on Level 08 and someone took him to Level 11 or 14, he never had that luxury.”

Gandu, who refused to comment on the present administration, said he is praying for the state.

avenue where he can contribute immensely to the development of Southern Kaduna.

Iko, however, confessed that he has heard people referring to APC as a Muslim party. ‘’There is no religious party in our polity, because religion is not a pre-requisite for registering political a party. I am a Christian and don’t know what that entails, I have people here from the different religions and it is not our focus, all we want is to free our communities and some people are talking religion,” he added.

Bajoga tasks newsmen Ugo Willies

GOMBE

ewly sworn-in CommisNIndustry sioner for Trade and in Gombe State,

Alhaji Bakura Mohammed Bajoga, has appealed to journalists to exercise caution in their report of the security situation in the country.

He said this would reduce the incidence of aggravating crisis.

According to him, Gombe State was enjoying relative peace owing to the strategies and commitment of the State Governor, Dr. Ibrahim Hassan Dankwambo, to ensure

peace across the state.

Bajoga said journalists should report the crisis in such a way that the peace being enjoyed in the state is not truncated.

The commissioner during a parley with newsmen in Gombe, said there was no person that was enjoying or benefitting from the crisis as nothing can be carried out successfully in an atmosphere of insecurity.

He called on the citizens, irrespective of their religious affiliations, to continue to pray to God to bring to an end the insurgency being witnessed in the country, urging them to also remain security conscious at all times.

Sokoto IPP commences operation next month Umar Danladi Ado

Sokoto

he over N3billion SoTPower koto State Independent Project (IPP) is to

commence operation by next month.

Governor Aliyu Wamakko disclosed this at the graduation ceremony of 125 youths trained in shoe- making and the distributions of Ramadan packages to the needy across the state.

The programme was organised by the Zakkat and Endowment Commit-

tee on Saturday.

He said the project has been put in place with the aim of boosting commercial activities, wealth creation, employment generation, thereby ensuring a self-dependent society.

According to him, this was in addition to the over 1,000 villages connected to the national grid for the benefit of the people, urging them to make the best of the opportunity by engaging in one form of business or the other, particularly agriculture for self-reliance.

Ochekpe challenges Plateau youths on early marriage, others Musa Pam

Jos

inister of Water ReM sources, Hon. Sarah Ochekpe, has called on

youths in Plateau State to shun early marriage and drug abuse even as they pursue education to be able to contribute meaningfully to the society.

Ochekpe made the call in Jos, at the weekend, during a one-day training workshop on “Community

Mobilisation and the Role of the Youth in Development” for communities in Barkin-Ladi Local Government.

The workshop was organised by the Centre for the Advocacy of Justice and Rights, funded by the minister that was held in Barkin-Ladi council area.

The minister, who was represented by, Gad Shamaki, encouraged youths in the area to imbibe the spirit of self-esteem.

Osun 2014

48 NEWS CAMPAIGN A dangerous dimension as party chairman and two female members got missing Stories by Adeolu Adeyemo OSOGBO

T

hree chieftains of the Social Democratic Party (SDP) in Osun State were, at the weekend, reportedly abducted in Ede, the country home of the first executive governor of the state, Alhaji Isiaka Adeleke by members of the All Progressives Congress (APC) while on door-to-door campaign in the ancient town.

Sanctity of Truth

Monday, July 21, 2014

SDP chairman abducted in Ede Those abducted, according to the party, were its Chairman in EdeNorth Local Government, Alhaji Adewimbi Kadiri, Mrs. Titilayo Alaanu and Mrs. Musili Usman.

Chairman of the party, Mr. Ademola Isola, who made this known in a statement in Osogbo, expressed concern over the incident, calling on all security agencies to be on the watch as the August 9 governorship election approaches.

Isola, who said the abduction of his members was carried out at Alusekere ward of Ede on Saturday, also charged the InspectorGeneral of Police (IG),

Muhammed Dahiru Abubakar, to investigate the circumstances leading to the kidnap of the three members.

According to him; “The SDP members, who were overpowered by over 50 APC members in the ward, were forcefully taken away in an official vehicle belonging to a member of the House of Assembly representing Ede North state constituency.

“My members were taken to the APC local secretariat in Ede, where they were detained for several hours and when they realised that tension had started building up, they quickly moved them

to the local office of the Directorate of State Service (DSS) in Ede. “Four of our members in Ede were just going around campaigning and telling the people about SDP and our manifesto.

They were educating the masses on how to vote on August 9 before their abduction.

“Suddenly, some members of APC swooped on them and forcefully adopted three of them with two women while one escaped. This was done without any justification, because our members across the state are peaceful," said Isola “It was our one of our

members, who escaped that raised the alarm that his colleagues have been overpowered and kidnapped by a group of APC members led by Hon. Akanbi.

“This led to some prominent Ede indigenes calling on the Commissioner of

Police to act swiftly to avoid bloodshed. After realising that the deed has been exposed, the abducted members, who were detained illegally at the APC secretariat, were taken to the DSS office in Ede, where they were held for about five hours.”

Major hotels booked to capacity irtually all the major Vhave hotels in Osun State been booked by gov-

ernorship candidates of the parties.

New Tele graph investigations revealed that these candidates took the decision ahead of the election so as not to be disappointed at the end of the day, when their political god-fathers, chieftains and mentors storm the state for the exercise.

Informed sources, who revealed this to our reporter at the weekend, said the politicians have been doing the booking two months to the exercise, adding that up till now, they are still on it.

A manager of one of the frontline hotels in Osogbo, the state capital, said the hotel booking exercise has become competitive among

politicians, who are ready to pay any amount to outsmart one another in securing accommodation before the election.

The manager said many hotel operators have made good money from these governorship candidates as they pay direct to the accounts of some of the hotels.

“In fact, I must confess that some of them have instructed some hotel managers not to give the booked rooms to any lodger, two months to the election as they have paid fully for the rooms,” the manager added.

Investig ations conducted round some hotels like Leisure Spring, Heritage, Ideal Nest and many others in Osogbo, confirmed the claim of the information earlier gathered.

No alternative to PDP in Osun, says Fadipe Osun State Governor, Rauf Aregbesola (left), addressing the Association of Ondo State Indigenes residing in Osun, during his endorsement for a second term in office at Nelson Mandela Freedom Park, Osogbo…at the weekend

Pedro sure of Aregbesola Wale Elegbede

former deputy governor in Lagos State and chieftain of the All Progressives Congress (APC), Mr. Femi Pedro, has urged the Independent National Electoral Commission (INEC) to moderate the forthcoming governorship elections in Osun State without being partisan.

He said if the election is free and fair, the APC candidate and incumbent governor, Rauf Aregbesola, will win by landslide any day.

In a statement made available by him over the weekend in Lagos, Pedro

A

said the machinations of the Peoples Democratic Party (PDP) to take over the South-West zone, were only empty threats, adding that the people of the zone are better off under the APC government.

While lamenting the abrasive nature by which the PDP has been going about its recent campaign in the zone, Pedro warned against rigging the Osun election under any guise, stressing that the militarisation of the poll is not only contradictory to the ideals of democracy, but is also a strategy that Nigerians will resist at all costs.

PDM withdraws candidate for anti-party activities he national leadership of TMovement the People Democratic (PDM) has with-

drawn the candidature of its governorship candidate in the August 9 election, Mr. Timothy Oludare Akinola, from the Independent National Electoral Commission (INEC) for alleged anti-party activities.

The party in a letter addressedtoINECChairman, Prof. Jerry Gana, and signed by its National Chairman, Bashir Yusuf Ibrahim said; “The party has taken the decision to withdraw Mr. Oludare Timothy Akinola, as its candidate in the election.”

The party, in the letter entitled; “Withdrawal of

Oludare Timothy Akinola as PDMgovernorshipcandidate in the election,” a copy of which was made available to the state chapter of the party and newsmen in Osogbo, accused Akinola “of holding meetings with opposition candidateswithouttheconsent of theparty,whichamountsto anti-party activities.”

Other reasons for the withdrawal according to the national chairman were “his continuous failure to honour invitation to meetings by the national secretariat and his lack of preparedness and inability to present a concrete plan for campaign few weeks before the election.”

ormer Chairman of lIesa FHon. West Local Government, Ibukun Fadipe, at the

weekend, said there is no alternative to the Peoples Democratic Party (PDP) in Osun State.

Fadipe in a statement made available to newsmen in Osogbo, described the party as outstanding among all other parties in terms of intellect and decorum.

He argued that the internal democracy and organisational skill of members of the party still remain second to none in the act of politicking in the country.

He, however, appealed to the people to pitch their tent with the PDP he described as party of the masses.

The former chairman also urged the citizenry to vote massively for the party in the August election to

NCP vows to resist rigging

he governorship candiYouths tasked on good conduct during poll Tscience date of the National ConParty (PDP) in Osun coalition of youth or- meeting at the weekend use of charms during of the teeming youths State, Comrade Olanrewaju AState, ganisations in Osun and signed by its the election as “strange, of Osun, among others, Afolayanka, at the weekend, “Osun State Youths Chairman, Mr. Kehinde primitive and inciting, are gainful employment threatened that his party Alliance” has urged youths in the state to be of good conduct in the August 9 government election.

The organisation in a communique issued at the end of its executive

Kolawole, urged youths to disregard any call that could disturb the peace of the state before, during and after the election.

He described the recent call by the governor that his followers should make

particularly coming from the number one citizen of the state, warning the youth against untoward acts that could cause problem for them.

“What should be uppermost in the mind

and how the students of tertiary institutions currently roaming the streets, would resume to enable them build their careers rather than being used as political thugs,” Kolawole said.

enable them witness true democracy and a unique distribution of democracy dividends across the state.

Fadipe condemned the present administration’s failure in conducting local government election in four years, describing the act as deliberate, wicked and anti-democratic.

He remarked: “Local Government administration is the nearest to the people and should be run by democratically elected people, who would be accountable to the people, thereby enhancing community development, which the Nigeria constitution envisaged.”

He stressed further that; “The APC has deliberately hindered community development by not conductinglocal government election.”

would resist an attempt by any political party to perpetrate electoral fraud in the August 9 governorship election.

Afolayanka said the party would not take such lightly as ‘any attempt to rig

the governorship election would lead to violence.’

He remarked: “The electorate are prepared to resist electoral malpractices and interference of the Presidency on the election.”

He also warned the Presidency against deploying soldiers to the state during the election, saying such step was meant to intimidate voters and create an environment for ‘technical rigging.’

NEWS 49

Sanctity of Truth

Monday, July 21, 2014

Judicial workers strike: NLC accuses governors of promoting impunity OUTLAWS State governors do not seem to regard court rules.

That's why JUSUN embarked on strike Yekeen Nurudeen

Abuja

T

he Nigeria Labour Congress (NLC) has lamented the refusal of all the 36 state governors to obey an order of the Federal High Court in Abuja, which it said has resulted in the strike that

has paralysed country's judiciary.

Justice A.F.A Ademola had ordered the state governors to enforce financial independence of the Judiciary but the governors seem not to be interested in doing that.

The labour body in a statement issued in Abuja yesterday by its National President, Comrade Abdulwahid Omar said the court had granted an order in January 2014 directing that funds meant for all states, judiciary as allocations from the Federation/Consolidated Revenue Fund should be paid directly to heads of the State courts.

2015: ‘Ibadan must produce next governor of Oyo' Sola Adeyemo Ibadan and Temitope Ogunbanke

T

he People’s Democratic Party (PDP) governorship aspirants of Ibadan extraction met on Sunday and vowed to work together for the victory of President Goodluck Jonathan and other PDP candidates during 2015 general elections.

The aspirants in a statement issued yesterday in Ibadan at the end of a meeting, where they deliberated on the political situation in Oyo State, especially as it relates to the PDP, also agreed to ensure that the next governor comes from Ibadan land.

At the meeting held at the residence of former Special Duties Minister, Wole Oyelese, were other aspirants including Hazeem Gbolarumi, Prof. Taoheed Adedoja, Prof. Soji Adejumo, Senator Teslim Folarin, Seyi Makinde and Dr. Azeez Adeduntan.

A former Chief Press Secretary in the administration of Late Lam

Adesina, Alhaji Kehinde Olaosebikan was however left out of the gathering.

In a communiqué released at the end of the meeting, the aspirants promised to work together as a team to ensure victory for PDP in 2015 elections and deliver the state for President Goodluck Jonathan.

“Given the political reality on ground, the PDP candidate who by the grace of Almighty God will be the next governor of Oyo State must come from Ibadan land.

We take cognisance of the importance and political interest of other zones and resolved to work assiduously with them to achieve victory for our great party at all levels,” the communiqué reads in part.

The g roup also called on the people of the state to be assured of better government from 2015 when PDP would have taken over gover nance in the state, while calling on members who have joined other parties to return to PDP.

NMA endorses Leke Pitan for Lagos guber race he Nigerian Medical AsTChapter sociation (NMA), Lagos has endorsed the

political aspiration of its former National President Dr. Leke Pitan for the Lagos governorship elections in 2015.

Dr. Pitan is aspiring to govern Lagos State under the banner of All Progressives Congress (APC).

The Association at its 54th Annual Convention passed the resolution,

endorsing the political aspiration of its former National President, Pitan of the Progressives Congress (APC) following a motion moved by Dr. Adedamola Dada and unanimously adopted and passed with loud ovation and approval.

The Annual General Meeting of the NMA is the highest decision making body of the Association. It comprises the Executive members and elders of the Association.

It added that the court also declared as unconstitutional, null and void piece-meal payments/allocations of funds through the Ministries of Finance in the states to the state judiciary at the pleasure of State Governors.

NLC said it was surprised that despite receiving copies of the judgment, none of the 36 State governors has complied with the judgment, a development it said has caused the judicial workers under the auspices of Judicial Staff Union of Nigeria (JUSUN), to proclaim a strike that has effectively shut down

11.2%

all state judiciary in the country since July 11 2014.

"For us, we believe all the governors are the greatest beneficiaries of not just constitutional democracy, some of them are indeed direct beneficiaries of judgments of courts or tribunals of competent jurisdiction and it would be a dangerous precedence for the governors to be leading in blatantly refusing to obey a judgment that has been made by a court of competent jurisdiction as this will be an open encouragement of anarchy and a daring promotion of impunity" NLC said in the

statement.

It argued that the issues at stake are fundamentally constitutional as the governors' handling of funds meant for their state judiciaries have been in breach of the 1999 Constitution of the Federal Republic of Nigeria and the court have nullified this.

While noting that the governors must comply with the judgment or follow appropriate judicial processes and stop behaving as outlaws, the labour union expressed its support for the ongoing strike by Judicial workers adding that it would take every step to

2.78m

ensure the full success of the strike.

"We support the ongoing strike by the judicial workers and will take every step necessary to ensure the full success of the strike action, which commenced only after the failure of the interventions of stakeholders in getting the governors to obey the judgment without recourse to strike action.

"We re-assure all judicial workers of our firm solidarity with their struggle to enforce their rights, which the governors seem collectively determined to undermine", it said.

40.72

The number of fixed-telephone subscriptions The projected percentage of water The number of refugees and people in per 100 inhabitants of Croatia in 2011. requirements for energy production by 2050. refugee-like situation in Afghanistan Source: Itu.int Source: Unesco.org assisted by UNHCR at the beginning of 2010.

Source: Blatantworld.com

L-R: Wife of the Deputy Corps Marshal Technical Services, Federal Road Safety Corps (FRSC), Adejoke Kazeem; new Corps Commander, Bisi Kazeem and Deputy Corps Marshal Technical Services, Federal Road Safety Corps (FRSC), Ayodele Omidiji, during the decoration of newly promoted officers of the Corps, in Abuja… at the weekend

Olafemi: We can't afford another war

PDP youths decamp to APC in Kwara

Muhammad Bashir

Biodun Oyeleye

Lokoja

ormer Acting Governor Fence of Kogi State, Chief ClarOlafemi has called on

President Goodluck Jonathan and other politicians to spare the country from another civil war caused by political greed.

Olafemi in a chat with journalistsovertheweekend, said the manner of politicking currently going on in some parts of the country is disturbing, urging Nigerians to stand up against any attempttodrawthenationback to pre-civil war years.

Olafemi who was also Speaker of the state House of Assembly said politicians mustnotbeallowedtoplunge the country into chaos for selfish reasons and blamed those he termed desperate politicians for the unrest in different parts of the country.

"I believe governors

should be allowed to complete their tenure. What is happening now is totaling unnecessary, they are trying to re-ignite what happened in the First Republic.

They may succeed in Adamawa or Nasarawa state, but where they will ignite fire, they don't know. Look at Boko Haram now, though I don't know the number of people killed, who suffers?

The poor! So, let our leaders not plunge us into war or pre-1966 era”, he appealed.

He however called on the leaders never to overheat the polity, warning that they should not allow the prediction by Americans that Nigeria will break by 2015 to come through.

On speculations that he has decamped to the APC, Olafemi said he is still a member of the PDP even though he has many friend and associates in the opposition party.

Ilorin

ver 200 members of the O(PDP) People’s Democratic Party from Ajanaku ward

in Ilorin South local government area of Kwara state have defected to the ruling All ProgressivesCongress (APC).

The decampees most of who claimed to be loyalists of Professor Shuaib AbdulRaheem under his Solidarity Oba Abu Youth Vanguard attributed their decision to leave the PDP to the alleged insensitivity of their former party's leaders to their plight.

Professor Oba AbdulRaheem is the chairman, Federal Character Commission and a leader of PDP in the state. The former PDP members who were received into APC by the chairman, Local Government Service Commission, Alhaji Sulaiman Yusuf claimed that the PDP

"lacks organization, team work, credibility and service to humanity which are core values that keep the Sen. Bukola Saraki's team soaring high".

While declaring support for Saraki, the group's chairman, Usman Olaiya also claimed that the party's leaders "lack sincerity and do not have their interest at heart. They only make empty promises to gain popularity and followership amongst the youth of the community."

Olaiya told the gathering that his members have nothing to show for their support for PDP leaders.

"They are so self-centered and greedy. They only want to benefit from us and care less about the situation of our group or the ward we represent and we are made to put a stop to this by declaring for Sen. Abubakar Bukola Saraki,” he stated.

50

WORLD | NEWS

Ukraine: Rebels seize crash victims' bodies

S

eparatist rebels have spirited away all 196 bodies that workers recovered from the Malaysia Airlines crash site to an unknown location, Ukraine's emergency services said yesterday.

Associated Press journalists saw the pro-Russia rebels putting bagged bodies onto trucks at the crash site Saturday in rebel-held eastern Ukraine and driving them away.

Yesterdayâ&#x20AC;&#x2122;s morning, AP journalists saw no bodies and no armed rebels at the crash site and emergency workers were searching the sprawling fields only for body parts. Ukraine and the separatists accuse each other of firing

a surface-to-air missile Thursday at Malaysia Airlines Flight 17 as it flew from Amsterdam to Kuala Lumpur some 33,000 feet (10,000 meters) above the battlefields of eastern Ukraine. Both deny shooting down the plane. All those onboard the flight 283 passengers and 15 crew were killed.

Ukraine says Russia has been sending sophisticated arms to the rebels, which Moscow denies.

The crash site is close to the Russian border.

Ukrainian Emergency Ministry spokeswoman Nataliya Bystro said recovery workers in the rebel-held territory had been laboring under duress and were forced to give the bodies to the armed gunmen.

Bodies of Plane Crash victims placed in plastic sacks by the side of the road at the crash site of Malaysian Airlines Flight 17

Libya: Militias locked in deadly battle for airport

I

slamist-led militiamen stepped up their assault yesterday on Libya's main airport, two days after the collapse of a truce with rival ex-rebels who control the facility, a security official said.

The renewed fighting, which killed at least five civilians, was condemned by the European Union, which urged restraint and dialogue. A coalition of militias led by Islamist fighters launched an assault on Tripoli international airport, with clashes later spreading to the road leading to the capital.

"The airport was attacked this morning with mortar rounds, rockets and

tank fire," airport security official Al-Jilani al-Dahesh told AFP. "It was the most intense bombardment so far," since a week-old battle for control of the airport erupted on July 13.

Dahesh said the militia which controls the airport, based in Zintan, southwest of the capital, and seen by Islamists as the armed wing of liberals within the government, responded with heavy fire. Islamist militias have been joined by other armed groups, including the powerful Misrata Brigades which played a key role in the 2011 UN-backedrevoltthattoppled andkilledstrongmanMoamer Kadhafi.

OPINION

Sanctity of Truth

Monday, July 21, 2014

Nigeria's media fears crackdown over Boko Haram battle David DolanandTim Cocks

N

igeria's press is traditionally free to write almost anything about anyone - whether it's true or not. But reporters fear a government sensitive to criticism is now cracking down, especially on coverage of the battle against Boko Haram.

After 15 years of democracy, journalists believe the state is trying to tame the vibrant, prolific media during its faltering campaign to stamp out the militant Islamist group.

One Friday last month the army seized newspaper print-runs, halted distribution vans across the country and ransacked offices of newspaper distributors and agents, detaining staff for several hours, the Nigerian Press Organisation said.

For Femi Adesina, now editor-in-chief of Nigeria's top tabloid, The Sun, this awoke bad memories of life under military rule, when reporters were routinely hauled in for questioning over their news stories.

"You virtually had your heart in your mouth. You wrote the story and you didn't know whether you should sleep at home or sleep somewhere else," recalled Adesina, who is also president of the Nigerian Guild of Editors. "If we are not careful as a country, we could slide back to those dark days."

While reporters accuse the security forces from time to time of intimidation, conditions for journalists remain a long way from the era of military dictatorship. Newspapers are able to publish vitriolic criticism of President Goodluck Jonathan that is largely tolerated.

Spokesmen for the presidency and police and a spokeswoman for the state security service did not respond to Reuters requests for comment.

However, the military said it made the searches last month after receiving intelligence on the movement of "materials with grave security implications" through newspaper distribution channels. One security source told Reuters there

Jonathan

was a genuine concern that militants were using the vans to transport explosives.

Nevertheless, the press organization says the military is using national security as an excuse for a crackdown on critical media coverage before elections next year.

Adding to journalists' anger, Nigeria's broadcast regulator has ruled that stations must give at least 48 hours' notice in writing before airing a live political program - a near impossibility given the impromptu nature of such coverage.

A local election in the western state of Ekiti in June that was otherwise deemed free and fair was marred by allegations of intimidation of local journalists, five of whom were arrested by police. In Akwa Ibom state in the oil producing Niger Delta, the editor of the Global Concord newspaper has been detained for two weeks after being bundled into a car by state security agents. The paper had repeatedly criticized the local government.

Nigeria ranks 112th out of 180 countries on the Reporters Without Borders press freedom index, above India and Mexico, but below East African nations Kenya and Uganda.

Jonathan has repeatedly expressed his support for freedom of the press, while also calling on its members to be "professional and accurate".

"Under my leadership, journalists in our country will continue to fully enjoy their constitutional rights

and freedom of expression," he â&#x20AC;&#x17D;said in 2012.

LOSING PATIENCE The government seems to be losing patience with press coverage of its fight against Boko Haram, an insurgent group which has killed thousands since 2009 in a push to carve out an Islamic state in the largely Muslim north.

Boko Haram's own attitude to press freedom was neatly displayed in 2012, when it blew up the offices of mildly pro-government ThisDay for what it called "insulting the Prophet".

The newspaper had angered Muslims a decade ago when one of its columnists suggested the Prophet Mohammed might have wanted to marry a beauty queen.

Jonathan, a southern Christian, has been criticized at home and abroad for his slow response to Boko Haram's April kidnapping of more than 200 girls from a school in the rural northeast, and for his inability to quell the violence.

"Newspapers have reported this insurgency independently," said The Sun's Adesina. "Apparently they're not comfortable with our independent reportage of what is happening in the country."

While press freedom is guaranteed under Nigerian law, in reality the media face retribution that is "episodic, unpredictable and very often arbitrary", said John Campbell, a former U.S. ambassador to Nigeria and a senior fellow at the Council on Foreign Relations.

Going after the wrong

"Big Man", or politically well-connected person, can be dangerous.

"In a general climate of lawlessness, if a newspaper publishes something that a big man or some part of the government doesn't like, it's likely to have its offices ransacked by a mob," Campbell said.

Nigerian journalists are still killed for their work, just as activist and writer Ken Saro-Wiwa was hanged by the military government in 1995. The Committee to Protect Journalists names Nigeria as one of 13 countries where the murder of a journalist is most likely to go unpunished.

Since 2009 at least five journalists have been murdered with no perpetrators brought to book, the organization says.

Yet overall the press has always been good at defending its freedom: even military dictator Sani Abacha never fully suppressed its feistiness in the 1990s.

"Press freedom has always been good," said popular journalist and blogger Tolu Ogunlesi. "It's hard to muzzle or intimidate the press in Nigeria. Even Abacha failed to control them: they went underground ... (and) used radio."

"ANY KIND OF STORY" Taking stock of newspapers in Africa's biggest economy is a dizzying exercise: there are at least a dozen major national dailies running to 40 pages each and scores of regional titles.

The big dailies are clearly influenced by their counterparts in Britain, which ruled Nigeria before independence in 1960. The Sun even publishes photos of "page three girls", albeit fully clothed, unlike the topless models in its British namesake.

But big circulations and flashy headlines fail to mask the sometimes low standards of an industry which, much like the country itself, is mired in corruption and political influence.

Slipshod reporting helps to fuel misinformation about the insurrection in the north, especially since the bulk of the big newspapers, and their reporters, are based in the mainly Christian south. â&#x20AC;˘ Culled from Reuters

Taekwondo: Nigeria’s 2016 Olympics chances shaky-Chukwumerije Emmanuel Tobi

B

eijing 2008 Olympics bronze medalist, Chika Chukwumerije, has declared that Nigeria might not qualify for the taekwondo event of the 2016 Olympics in Rio, Brazil as a result of the inability of the country to participate at the last the World

Taekwondo Federation (WTF) Grand Prix in China.

The three-time Olympian stressed that missing out from that competition might affect the Nigeria’s chance of qualifying for Rio 2016.

“Missing a G4 (Championship with 40pints) tournament is not funny at all, because winning it will send one up the charts by as much as 10 – 15 slots. It means we

SPORT

would have to invest more to win back those ranking points – that means more competitions to attend, extension of training time, increase in the mental and emotional stress,” he said.

Chukwumerije who is also Head, Games/Event Organising Committee of the Nigeria Taekwondo Federation described the miss as an irrevocable loss of funds, time and hard work.

newtelegraphonline.com/sports

That all eight group stage winners (Brazil, Netherlands, Colombia, Costa Rica, France, Argentina, Germany and Belgium) all progressed to the quarter finals stage for the first time in World Cup history

ADEKUNLE SALAMI, DepUTY Editor, SPORTS kunle.salami@newtelegraphonline.com adekunles@yahoo.com

AUTHORITATIVE VOICE IN GLOBAL SPORT

Monday, July 21, 2014

I’m ready for EPL challenge – Ideye

Ifeanyi Ibeh

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est Bromwich Albion record signing, Brown Ideye, has revealed that he was ready to thrive under the pressure that comes with playing in the English Premier League.

A lot of players, Nigerians inclusive, have in the past struggled to make an immediate impact following a switch to the Premier League.

But Ideye believes he is up to the challenge, adding that he is also hoping to meet the challenge that comes from his £10 million transfer from Dynamo Kiev to the Hawthorns.

Asked how big a deal it was for him to come to the Premier League, in an interview with the official website of the English Premier League side, Ideye said: “It’s a big one. Every player wants to play in England.

The Premier League is a big

thing for me and I just have to be focussed and try to do my best in every game.”

And regarding his huge transfer fee, the one-time Sochaux of France star, said: “It’s a big transfer and, expectedly, that places a lot of pressure on me too, but I just have to put all that behind me and focus on giving my best to the team; try to focus on everything that the team expects from me and to work with the team.”

Ideye also talked about the huge pressure likely to come from being handed West Brom’s number nine shirt; a shirt once worn by the club’s most famous striker of all-time, Jeff Astle, who scored a record 174 goals from 361 games for the Baggies.

“It’s a big task wearing the number nine shirt,” continued Ideye. “I just have to prove it (that I am worthy of wearing that shirt), and to give my best in every game.

“The number nine shirt is

like a (huge) load for me, but I just have to give it my best as we move forward,” added the Nigeria international, who has a record of 74 goals in 182 career league appearances.

In his last season at Dynamo Kiev, Ideye scored 16 goals in 25 league games and 21 in all competitions, and he hopes to continue scoring as he gets set for life in the Premier League.

“I think I can continue scoring playing alongside the rest of the team. We just have to play as a team; that way we can achieve a lot.”

He added: “For me, the most important thing is to try and win every game, which I know some times could be a bit difficult, but we just have to do it.

“I take each game as it comes. I would like to score in every game. Every striker likes to score in every game and I will put that challenge on myself, work very hard and work very hard for the team.”

“We cannot afford for our National Taekwondo athletes to miss the majors. Don’t miss the Africa Games, don’t miss the World Championships, don’t miss the Grand Prix, and do not miss the G-2s (Championship with 20pints). If we do that and do relatively well, we will have two or three people automatically in the Olympics. It is that straightforward,” he said.

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Ideye

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Sanctity of Truth

Musa grabs hat-trick of assists in CSKA win

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igeria World Cup star Ahmed Musa shone as he provided three assists for CSKA Moscow in the Russian club’s 4-0 win over OFK Beograd of Serbia in a pre-season friendly.

The former JUTH FC of Jos player assisted Cote d’Ivoire star Seydou Doumbia for two of his three goals and lasted 55 minutes before he was substituted.

Musa, speaking after the game, said: “It was a good test, although

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Musa

Ogbeche on target for Dutch club B

artholomew Ogbeche, who featured for the Super Eagles at the 2002 FIFA World Cup, at the weekend, scored a goal as SC Cambuur claimed an impressive 5-2 pre-season victory at De Graafschap.

After a minute’s silence for the victims of the tragic air crash in Ukraine, SC Cambuur made their attacking intentions known from the start with Michiel Hemmen and Etienne Reijnen scoring within the opening minutes of the game.

Michiel Van Hemmen then made it 3-0 before Dean Koolhof and Michiel Hemmen asked questions of the Cambuur defence with a goal each for De Graafschap before half time.

Second half strikes from Oebele Schokker and Ogbeche however ensured Cambuur won 5-2.

Anichebe begins pre-season in US with West Brom

we won big 4-0, our opponents put in their best, but we found the formula to break their defence.

“Although I didn’t score a goal, I gave three assists and I am happy we won the game and played well.”

The ex-VVV Venlo forward joined his team last week for preseason training after he was given an extended break after playing at the World Cup in Brazil, where he scored two goals, both coming in Nigeria’s 3-2 loss to Argentina.

Obasi impresses with Schalke igerian forward, Chinedu Obasi, along with the duo of Sidney Sam and Dennis Aogo, shone like a million stars as Schalke 04 crushed Hansa Rostock 3-0 in a pre-season friendly match.

As reported by the local media earlier in the week, Aogo made his long awaited comeback after a horrific 8-month spell on the sideline.

The Goals scored by Sidney Sam, Jan Kirchhoff and Dren Hodja ensured that Jens Keller’s side defeated Hansa Rostock.

Nigerian-born Sam, who plays for the German national team, got the just rewards for his good performance, opening the score in the 69th minute, driving a free kick under the jumping wall from 18 yards.

Just three minutes later, Kirchhoff doubled the advantage from Sam’s corner, before substitute Dren Hodja ensured

Monday, July 21, 2014

the 3-0 result with a brilliant back-heeled goal on 74 minutes.

Obasi and Aogo, who only returned to action last week after spending eight months recovering from injuries, were substituted at the beginning of the second half, while Sam made way for Sobottka in the 79th minute of play.

Obasi

Anichebe

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igeria international Victor Anichebe and other West Bromwich Albion players were put through their paces by head coach, Alan Irvine as the squad’s first full day on pre-season tour in Sacramento got underway with a training session at the Cosumnes River College.

The work-out started under a cloudless Californian sky at a relatively comfortable 19°C – but temperatures were set to soar through the 30°C for the other session.

Anichebe, it would be recalled, last Wednesday grabbed a goal for the Baggies as they managed a 2-1 friendly win over Shrewsbury Town at the Greenhouse Meadow.

Anichebe, who moved to West Brom from Everton last season, has now been joined at the Hawthorns by his Nigerian compatriot, Brown Ideye, who moved from Dynamo Kiev for a club record transfer fee believed to be in the region of £10million.

Both players, who have in the past played together in the Super Eagles, are expected to form a formidable partnership at the English Premier League club.

Ex-U20 star, Gero, eyes first team role in Sweden F

Alhaji Gero in action for Osters IF

ormer Flying Eagles striker, Alhaji Gero, has suggested that he has been relegated to the bench at his Swedish team, Osters IF, due to a change in formation by the coach and an ankle injury he suffered during a league match.

But the former Enugu Rangers star, who joined the Swedish club few weeks after featuring for Nigeria at the 2013 FIFA

U-20 World Cup in Turkey, is determined to get himself into the starting line-up. ‘’Osters were relegated from the first division last season, and I played 10 games for them. When we began preparations for this season, everything was going according to plan. ‘’I found myself on the bench when the league started.

Every coach has his own pattern. When I joined the club, we played with two forwards but the new coach (Roberth Bjorknesjo) has decided to name only one striker in his line-up. ‘’I kept my head down until I picked up an ankle injury.

When I became fit, it was difficult getting into the first team,’’ said Gero.

Okoronkwo on target again

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olomon Okoronkwo continued his impressive pre-season form with another goal for German second division side, Erzgebirge Aue, in their 2-1 over Hallescher.

The away side was ahead when Mike Konnecke fired them into the lead from the edge of the box 14 minutes into the match, only for Soren Bertram to level the scoring.

However, Okoronkwo hit the win-

ner for Erzgebirge a second before the break, to take his pre-season tally to three goals.

The former Flying Eagles forward scored one each in previous friendlies - against Hradec Kralove and Banik Sokolov.

Okoronkwo’s Erzgebirge will start their bid for promotion to the Germany Bundesliga 1 with a tough clash against FC Nurnberg in a fortnight.

Solomon Okoronkwo in action for Erzgebirge

AWC: Falcons coach wary of Namibia, Cote d’ Ivoire Ajibade Olusesan

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uper Falcons coach, Edwin Okon, has refused to underrate the team’s Group A opponents in the Africa Women Championship, saying it would not be an easy ride for the fivetime champions qualifying to the next round.

Nigeria are pooled in the same group with Namibia, Zambia and Cote d’ Ivoire, but Okon said although the group looks easy on paper teams like Cote d’Ivoire and hosts, Namibia must not be taken lightly.

“All the eight teams that qualified for the competition are good and determined to win the AWC title and that is why we won’t underrate any team. There are no push overs in women football any longer in Africa.

Sanctity of Truth

Sanctity of Truth

Monday, July 21, 2014

Monday, July 21, 2014

COUNTDOWN TO COMMONWEALTH GAMES

Journalists to pay for info in Glasgow

Charles Ogundiya

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igerian journalists aiming to cover the Commonwealth Games starting in Glasgow, Scotland, on Wednesday, will have to pay for information at the games.

There will be a $79 charge for wifi after the organisers were forced to half the price from initial price of $158 and a $116 charge for access to the MyGamesINFO service, Glasgow 2014 has confirmed.

The move has led to criticism from the President of the International Sports Press Association (AIPS) Gianni Merlo, who has accused Glasgow 2014 of “living in the past century” and “not in-line with the times” and has called for organisers to “rethink their decision”.

The MyGamesINFO service, the official Games-time intranet system for accredited media, will also provide fast and reliable results and a huge range of information making it an essential tool for working media covering the event, according to a Glasgow 2014 official.

“With around 1,500 accredited journalists and photographers expected to cover the Commonwealth Games this summer, Glasgow 2014 is unable to provide the above services and support free of charge.

“However we have endeavoured to keep costs to a minimum and believe the high quality of services on offer to the media are not only incredibly cost-effective, but a significantly more comprehensive service than seen at a Commonwealth Games before.”

“We are providing GamesINFO

terminals at each venue media centre and in the Main Press Centre which are free to use by accredited media throughout facility operating periods.

“To provide more flexibility to those media organisations that require it, we are also providing a remote version of the service, MyGamesINFO which allows organisations to access the system from wherever they are, as long as they have an internet connection.

In addition, organisers are offering free access to up to 200 of the most “financially in need accredited media organisations.”

Photographers are still being asked to pay up to £265 ($440/€320) to work during the Games, while the cost of the MyGamesINFO service remains unchanged also.

Victoria Vincent aims for glory

Vincent

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Amaechi hopes for gay rights improvement

Amechi

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or mer NBA star John Amaechi claims Glasgow 2014 Commonwealth Games can help draw attention on antigay laws that the majority of homosexuals in Commonwealth countries face.

It is claimed that 42 of the 53 Commonwealth member countries have laws that criminalise homosexuality, with seven of these having a maximum penalty of life imprisonment.

This is against Article Seven of the Commonwealth Games Federation (CGF) which prohibits discrimination.

According to Amaechi; “It doesn’t take a genius to realise that some countries fail when it comes to Article Seven, that some fail to live up to the principles of sport itself.

“But, rather than just a scathing review this is an opportunity to bring people together and help them understand how diversity, inclusion and equality are not simply window dressing.

“Nothing can change if people remain blind to the truth.

“Someone might say, ‘This is a violation of the spirit and the world of the principles of the Games’.

Homosexuality is a criminal offence in the vast majority of Commonwealth countries.

Cameroon’s team member traced O

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espite competing at a young age of 13, England’s Victoria Vincent, is aiming for diving glory at the Glasgow 2014 Commonwealth games.

Vincent who won her first senior British title in June, only nine months after first diving off the 10-metre platform – was spotted by Tom Daley’s coach, Andy Banks, in 2012 and swiftly relocated to Plymouth to train under his tutelage.

Vincent had a queue of offers to pursue an acting career – from West End theatre to films – but after falling in love first with gymnastics and then diving, the world of make belief no longer held the same appeal.

She says the competition will be useful for gaining experience and trying out dives: “My newest dive is the reverse two-and-a-half from the 10m platform.

I haven’t had that much experience up there, so I just want to grab all the experience I can get.”

SPORT

ne of the two members of Cameroon’s Commonwealth Games team who went missing from Aberdeen has been traced - in London.

Police Scotland says that, while one of the wrestlers is known to be “safe and well”, “enquiries are continuing to locate the other athlete.”

The wrestlers, aged

Anne-Marie Monaghan has the honour of being the first person to carry the baton in Glasgow

Residents gear up for Games

the CommonQueen’s Baton Relay arrives in Glasgow With wealth Games just fter 286 days and a 190,000-ki- of “a huge, joyful and historic oc-

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lometre journey spanning 70 nations and territories, the Queen’s Baton Relay made a triumphant arrival in Glasgow on Monday morning just days before the Opening Ceremony of the Commonwealth Games on Wednesday (July 23).

At the appointed time of 6.56am, hundreds of people lined the beginning of the route, carrying flags and cheering in scenes reminiscent of the Olympic Torch Relay ahead of London 2012.

Once the Baton arrived, the atmosphere was raised further by the leader of Glasgow City Council, Gordon Matheson, who spoke

casion, when the Baton arrives where it belongs for the Commonwealth Games in our great and beloved city”.

The Baton was then taken by the first bearer, Anne-Marie Monaghan, a keen golfer, athlete and skier despite the fact she was diagnosed with multiple sclerosis in 2000, before being carried off amid more cheers to mark the start of a three-day journey around the city.

On Wednesday (July 23) the Baton’s arrival will form the crescendo of the Opening Ceremony, where it will be opened, with a message inside read by the Queen.

26 and 31, were reported missing from their base near Aberdeen Sports Village last week.

Seven members of the Cameroon team for the London Olympics disappeared while in Britain in August 2012, while the nation’s football squad arrived a day late for this summer’s World Cup in Brazil following a bonus payment dispute.

days away, much of the focus will be on sport, but Glasgow as a city has been gearing up too.

There is a programme of cultural and other events taking place.

Moving around Glasgow at the moment it is clear that something big is about to happen.

In many places there are flags and banners, the streets seem busy and there are special signs on the pavements detailing just how long it should take to walk to a particular venue, re-

ports BBC Sports.

“It seems like everyone’s been talking about it for a couple of years now since London 2012 finished,” says Ruth Stevenson, 22.

“It seems kind of surreal that it’s happening and I’m part of it, it’s amazing.”

She is one of thousands of volunteers, known as Clydesiders, who will be helping to deliver the games. Her particular job will be at the main media centre dealing with questions from journalists from around the world.

Transfer Updates

54 SPORT Eagles’ transfer Update Odubajo: ‘Brentford was the right move for me’

midfielder Moses Odubajo BBeesrentford has spoken out about his move to the earlier this summer and says it‘s the

right decision.

The 20-year-old former Leyton Orient player made his Brentford debut on Thursday in The Bees 3-1 friendly win over Boreham Wood, looking lively throughout the whole game.

He scored 15 goals in just over 100 appearances for the O’s, 12 of them coming during last campaign.

He told Get West London: “In the first game, I just remember the atmosphere was incredible – everyone was on it that night. When the final whistle went we went mental, but perhaps we got over confident after that.

“But when we went back to our place and lost, Brentford really rubbed it in our faces, and we knew it was the playoffs for us.

“What I took from those games was seeing Brentford play high up the pitch with creativity and freedom, and I liked that, so I knew I had made the right move when I came here. I just had a feeling about it.”

Abdullahi signs for Kuwaiti club

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igeria international, Shehu Abdullahi, has signed a year deal with Kuwaiti outfit, Al Qadsia Sporting Club, for an undisclosed fee.

Abdullahi, 21, penned the deal with the Kuwaiti side after he rebuffed overtures from South Africa, Turkey and Saudi Arabia and a deal with Portuguese giants Sporting Lisbon fell through at the last minute.

The former Kano Pillars midfielder says he is comfortable with the deal as it affords him a new challenge and an avenue to put himself in the window.

“I’m really happy with the deal. It’s a new challenge that I am looking forward to,” he said.

Aneke moves to Kazakhstan

Kaduna United striker, Jude Fforormer Aneke, has signed the dotted lines Kazakhstani Premier League side,

Spartak Semey.

Aneke, who set a Glo Premier League record of 20 goals for a season while with Kaduna United in the 2011/12 season, has been without a club since leaving Egyptian side, Al Masry.

He was widely hailed for breaking the record previously held by Ahmed Musa, who scored 18 goals the previous season for Kano Pillars, but his time at Warri Wolves, who he joined shortly after, did not yield the expected dividends.

The 24-year-old striker had limited playing time at the Egyptian club and had some injury worries, but will look to bounce back into the reckoning after his move to Spartak Semey.

The former Anambra United and Ebonyi Angels player will join up with compatriot, Michael Odibe, who also plays in the Kazakhstani Premier League with FK Atyrau

Casillas wants EPL switch

Liverpool agree fee for Remy

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iverpool have agreed a fee of around £8m with Queens Park Rangers for the signing of striker Loic Remy.

The Premier League runners-up hope the deal can be completed in the coming days, with Remy still to agree personal terms and undergo a medical.Manager Brendan Rodgers is hoping it can all be done in time for the Frenchman to be part of their pre-season tour of the United States.

The Reds have beaten off interest from rivals Arsenal, who reportedly pulled out of the deal due to Remy’s wage demands.

The former Marseille player could be seen as a replacement for Luis Suarez, whose move to Barcelona is soon to be confirmed.

Lampard close to New York City FC deal

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ngland international Frank Lampard is expected to confirm his move to new Major League Soccer franchise New York City FC this week, according to British media reports.

Citing an MLS source, Toronto Sun soccer columnist Kurtis Larson has also reported in recent weeks that Lampard will sign with NYCFC. The 36-year-old was released by Chelsea at the end of last season following the expiration of his contract.

He left Stamford Bridge as the club’s record goal scorer with 211 from 648 appearances during a 13-year spell in west London.

Casillas, who suffered a nightmare World Cup as the Spanish exited at the group stage, is so desperate for a move away from Real that he wants club officials to terminate his contract and allow him to move for free.

The 33-year-old has lost his place to Diego Lopez for domestic league matches and despite helping Real win the Champions League, Casillas is now ready to move with Costa Rican stopper Keylor Navas close to joining.

Spanish paper EL Confidencial report Casillas is keen on a move to Arsenal who could move quickly to bring the Spaniard to the Premier League despite also being linked with Nice’s David Ospina.

Kalou wants to return to Premier League this summer

ille striker Salomon Kalou reL portedly wants to return to the Premier League this summer – and

could be available for £3m.

According to reports, the Ivory Coast international is being tracked by Italian club Roma, but the 28-year-old is delaying a decision on his future until he can negotiate a move back to England in the coming months.

The publication claims that the former Chelsea striker would prefer to sign for Arsenal, but, that any deal with the Gunners this summer is unlikely because the north London outfit has already bought Alexis Sanchez from Barcelona.

Quieroz agrees new Iran deal

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Inter lead chase for Cerci

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nter Milan have emerged as favourites to sign forward Alessio Cerci from Torino.

The Nerazzurri are set to make a new assault on the Italy international after boss Walter Mazzarri gave the green light and they appear to be in the pole position at the moment.

While Roma and Juventus have cooled their interest in the player, AC Milan remain keen, but Cerci is unlikely to be joining the Rossoneri as he wants to play European football next term.

However, reaching an agreement with Torino will not be an easy task, which is why the Nerazzurri hope to cash in on Fredy Guarin as soon as possible and use the money from the sale for an assault on Cerci.

Lukaku set to stay with Blues’

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omelu Lukaku is set to stay at Chelsea and fight for a firstteam spot next season, according to Steve Holland.

The Belgian forward spent the last campaign at Everton, where he scored 15 goals and made six assists in 31 Premier League games for the Toffees.

Lukaku, 21, has been linked with a permanent switch to Goodison Park, as well as a move to Atlético Madrid in recent weeks.

However, Chelsea assistant first-team coach Holland is expecting to see the striker stay at the west London club this summer.

rystal Palace midfielder Jose Campana is set to complete a move to Serie A side Sampdoria.

The Spaniard only signed for the Eagles last summer from Sevilla but ended up finishing the season on loan at Nuremberg in Germany.

And Campana was in Italy on Sunday for a medical ahead of his proposed transfer, thought to be for a fee in the region of £1.4million.

The 21-year-old will leave Selhurst Park having appeared just six times in the Premier League for Palace.

rsene Wenger has revealed that he was A looking to bring new players to Arsenal this summer, but refused to name Sami

Khedira as a target.

Khedira has been heavily linked with a move to the Emirates in recent weeks, so much so that a Real Madrid shop refused to sell shirts with the German’s name on earlier this week.

However, the agent of the star insists that he was not in talks for a move to Arsenal.

Wenger remained coy on giving out names of his transfer targets.

Juve set to unveil Evra

uventus are reportedly set to unveil Man Jsigning United full-back, Patrice Evra, as a new on Monday according to Italian source.

The veteran left-back had signed a new Old Trafford deal only a few weeks ago, but the arrival of England teen Luke Shaw was always likely to hasten Evra to a Man United exit and this source suggests that such a move could well lead to Louis van Gaal’s pursuit of Arturo Vidal becoming more of a reality.

The source states that a €45m (£35m) may be accepted by the Turin side and Vidal has certainly been a long term target for the Premier League side with van Gaal no doubt keen to make the 27 year old Chilean the third high-profile signing of what may well prove to be a very busy summer for the Dutch manager.

Defour’s agent claims PSV deal

he Iranian Football Federation T (IFF) has agreed to extend former Bafana Bafana coach Carlos

Queiroz’s contract until the end of the 2018 World Cup, Iran’s Tehran Times reported.

According to the (IFF), the two parties agreed in a meeting on Friday to finalise the 61-year-old’s new deal on 1 August.

“We have to negotiate about the contract in the details. I wish to stay as Iran coach,” Queiroz was quoted as telling Fars, Iran’s news agency.

Palacios signs for Qatar Sport Club

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t’s destination Qatar Sport Club for Wilson Palacios after the defensive midfielder left Stoke City and was in Doha to sign the deal.

The switch from the Premier League to the Qatar Stars League has come with little hesitation from Stoke, who were keen to usher the 29-year-old to the Britannia exit.

It was confirmed by the Qatari outfit after they tweeted: ‘Honduras national team player and Stoke City’s Wilson Palacios is in Doha to join Qatar Sport Club.’

Palacios has been held back by injuries since joining Stoke in 2011 from Tottenham Hotspur for about £6million, and fell down the pecking order.

he agent of Porto midfielder Steven Defour has indicated that his T client is close to agreeing a deal with

PSV Eindhoven.

The 26-year-old Belgian has been linked with the Eindhoven club for the past few weeks as they search for someone to cover for Stijn Schaars, who will miss the next few months of action.

Speaking to O Jogo in Portugal, Defour’s agent claimed a deal had already been agreed between the player and PSV, but they are still waiting for the go ahead from Porto.

He Said, “We have an agreement in principle with PSV, it also depends on Porto.”

Standard Liege seek to sign Majeed Waris

elgian giants Standard Liege are B seeking to sign Ghana hitman Abdul Majeed Waris from Russian club Spartak

Moscow this summer.

The 22-year-old, who is a target of several clubs in Europe, is seeking to leave the Russian club for more playing time in the major leagues of Europe.

But Standard Liege must pay about $7m to be able to sign the Ghanaian from Spartak Moscow.

The World Cup attacker has now fallen on the radar of the Liege side who want to sign him before the start of the season in Belgium, but Everton also want him.

Navas future up in the air

Swansea star flies to Seattle for Spurs

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evante coach Jose Luis Mendilibar says he is in the dark regarding the future of soughtafter goalkeeper Keylor Navas - but insists the Costa Rica international is still his player as things stand.

Navas has been heavily linked with a 10million euro move to Real Madrid among several other teams following his impressive exploits at the World Cup but, despite speculation that a move to the Bernabeu has already been finalised, nothing yet has been officially confirmed.

And Mendilibar, who took over at Levante this summer, does not have any more insight to give on the situation either.

He told Marca: “Nobody has told me anything about Keylor. He’s still ours.”

Campana set to complete Rodriguez wants Atletico exit move to Sampdoria

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Wenger quiet over Khedira deal

egendary Real Madrid goalkeeper Iker Casillas L wants to move to Arsenal, according to reports in Spain.

Arsenal table £24million bid for Carvalho

eports coming out of Portugal are claiming that Arsenal have had a €30million (£24m) bid f o r defender William Carvalho turned down.

It is believed that his club is holding out for an offer closer to the €45m release clause he has in his current contract.

With Arsenal being Arsenal, an opening bid of €30m probably means that they won’t go as high as €45m, but it is reassuring to see them continue to shop at the top end of the market rather than where they have become used to – in the £10m or less bin.

Sanctity of Truth

Monday, July 21, 2014

ruguay international Cristian RoU driguez has outlined his intention to leave Atletico Madrid during the

transfer window.

Rodriguez joined Atletico in 2012 from Porto, but struggled to establish himself i n Diego Simeone’s starting line-up during last s e a son’s La Liga title-winning campaign.

He started all four of Uruguay’s games at the World Cup in Brazil and has recently been linked with a move to Premier League side Sunderland.

“Every footballer wants to play as much as possible and what I want is a team in which I can have more minutes on the pitch and which has confidence in me,” Rodriguez said..

wansea City left-back Ben Davies S has flown to Seattle to complete his move to Tottenham Hotspur, according

to a report in the Telegraph.

Davies will join up with the squad on their pre-season tour in the United States, and was expected to complete his medical at the club on Sunday.

The Welsh international had been the subject of an £8million rejected bid from Liverpool earlier in the week, with Spurs’ reported agreement rumoured to be around the £10million mark.

The imminent Davies deal also took an interesting twist on Saturday night, as midfielder Gylfi Sigurdsson was pulled out of the Tottenham squad for their friendly with Seattle just moments before the start, suggesting that he may be on the way back to Swansea as part of the deal.

Etienne drop Ayew interest

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rench Ligue 1 giants Saint-Etienne have dropped interest in signing Ghana World Cup striker Jordan Ayew after early reports linked him to the ten-time Ligue 1 title-winners.

Giants Olympique Marseille have confirmed t h e 22-year-old will not be part of their plans for the 2014/15 season putting numerous clubs on the alert.

Saint-Etienne were one of the clubs linked with the striker who spent the second-half of last season at Sochaux on loan, but in statement, the club has confirmed it will not sign the Ghana international.

SPORT 55

Sanctity of Truth

Monday, July 21, 2014

National team beckons for MVP Usman

l as Kano Pillars retain DStv League title

pick players for the national team,” said Nigeria Basketball Federation president, Tijani Umar, in an interview with New Telegraph.

It was a statement that was backed by Kano Pillars coach, Sani Ahmed, who assisted erstwhile D’Tigers coach, Ayo Bakare, at the 2012 London Olympics, where the Nigerian team found it difficult scoring from outside the perimeter.

“That boy was supposed to be in the national team but unfortunately he couldn’t make it,” said Ahmed. “We needed somebody who could shoot accurately from threepoint territory.”

Mark Mentors got N750,000 from sponsors DStv for finishing second, while third-placed Dodan Warriors ano Pillars guard-for- received N500,000.

Usman’s status as a home-based ward, Abubakar Usman, could be in line for a call- player had in the past worked against up to Nigeria’s national him when it came to selecting players basketball team after picking for the national team, but all that looks up the Most Valuable Player set to change as he is about to be named award at the end of the DStv on the shortlist of players to be invited Premier Basketball League to the D’Tigers in the foreseeable future.

“We have always said that only playoffs.

Usman, who also picked up the the best players will play for Nigeria Highest Scorer award, was im- regardless of where they play, and he pressive all through the weeklong is one of the best. So he will be given playoffs, culminating in a 38-point a look-in when that time comes to performance in Kano Pillars’ 89-88 victory over Mark Mentors in Saturday’s final at the National Stadium, Lagos.

With less than 10 seconds left on the clock, and with Kano Pillars trailing 88-86, Usman, after forcing a turnover from Mark Mentors’ guard, Timothy Kwaor, rather than driving to an unguarded basket for an easy two, kept his cool and dropped a three-pointer to hand L-R: Mathew Onmonya, Kano Pillars’ Captain, receiving the 1st place trophy from Public Relations Manager, MultiChoice Nigeria, Caroline Oghuma; the reigning champions an 89-88 Mark Igoche Chairman of Mark Mentors and Nigeria Basketball Federation win, and the one million naira prize President, Tijjani Umar, during the final of 2014 DStv Basketball League Championship at the National Stadium, Surulere, Lagos on Saturday. money.

Ifeanyi Ibeh

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…NBBF President backs referee’s decision

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resident of the Nigerian Basketball Federation, Tijjani Umar, has thrown his weight behind the umpire of last weekend’s DStv Premier Basketball League final, Tunde Popoola, who ruled out a Mark Mentors basket in the final seconds of the pulsating encounter.

Kano Pillars won 89-88 to emerge champions of the DStv League

courtesy of Abubakar Usman’s late three-point shot. But the game’s outcome would have been different had Musa Usman’s shot right at the very end stood.

Instead, it was ruled out by the chief umpire, Popoola, who insisted the Mark Mentors guard released his shot after the game-ending buzzer had gone off.

It was a decision players and officials of the Abuja-based Mentors refused to come to terms with at the National Stadium match venue, as they protested vehemently, insisting on seeing a replay of the incident; a request which the presiding match officials initially refused to grant them.

But a statement made available to New Telegraph from the NBBF has disclosed that Mark Mentors’ chairman, Mark Igoche, did get to see the disputed incident inside the Outside Broadcast van of TV right owners, SuperSport.

“From the replay it was clear that Musa Usman still had possession of the ball as time expired,” stated the NBBF president. “The referee dully indicated that and, from the video footage I and the Mark Mentors chairman saw, the referee got the decision spot-on.”

Kano Pillars successful defended the title they won last season with match winner Usman going home with his second successive Most Valuable Player award. He also won the highest scorer award having ended the tournament with 138 points from five matches. Mark Mentors forward, Abdul Yahaya, went home with the highest rebounder award.

Namibia, Ivory Coast, Zambia can’t stop Falcons –Chiejine

lTips Nigeria for 2014 AWC trophy Emmanuel Tobi

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ormer Super Falcons goalkeeper and captain, Ann Chiejine, has expressed optimism that the current Falcons team will excel at the 2014 African Women Championship after being drawn in Group A with Namibia, Zambia and Ivory Coast. The draw was conducted by the Confederation of African Football on Saturday.

Speaking in an interview with New Telegraph at the weekend, the former Falcons goalkeeper trainer tipped the team to qualify from the group, while maintaining that the experience of some of the senior players will be very instrumental to the team’s success.

“It is a good draw for the Falcons. Namibia, Ivory Coast and Zambia can’t stop Nigeria’s quest to reclaim the AWC trophy because we have the players, and the experience garnered by some of our senior players will come to bear when the competition begins,” she enthused.

The mother-of-four who currently works with City of David women team in Lagos, added that the technical ability of the cur-

Chiejine

rent coaching crew would help the team bounce back into reckoning in African football.

“The Falcons have great and experienced players like Perpertual Nkwocha, Faith Ikidi, Onome Ebi coupled with the technical ability of the coaching crew not forgetting the good preparations the team have undergone in recent times.

“I’m very confidence that the team will win the trophy in Namibia, but they should just take the matches as they come and they should not the distracted with the oppositions in Group B such as South Africa, Ghana or Cameroon, “she stressed.

Brume braces up for IAAF Junior Championships Charles Ogundiya

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igerian long jumper, Ese Brume, has been tipped by the International Association of Athletics Federations, as one of the stars to watch out for at the World Junior Championships.

The best junior athletes from around the world will converge in Eugene, USA, from July 22 to 27, for the 2014 World Junior Championships Brume won the long jump event at the recent All Nige-

ria trials in Calabar, and she is tipped to challenge current world youth champion in both the long jump and triple jump, Romania’s Florentina Marincu for the gold medal at the competition.

According to the report, “Marincu, who jumped 6.71m in Bucharest in late June, is justifiably considered the favourite.

“If anyone is to upset her, then watch out for Nigeria’s Ese Brume, who has the second and third best performances on the 2014 junior list at 6.68m and 6.60m.”

NSC backs AFN platinum jubilee celebration Charles Ogundiya

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he National Sports Commission has thrown its weight behind the forthcoming platinum jubilee celebration of Athletic Federation of Nigeria as the federation clocks 70.

The federation was founded in 1944, and there will be a celebration commemorating the event where all the principal characters behind the success story of AFN will be honoured and celebrated.

Members of the athletics stakeholder, the committee responsible

for the planning of the celebration recently paid a courtesy visit to the Director General of the NSC Hon. Gbenga Elegbeleye.

Speaking during the visit, the Chairman of the planning committee, Olukayode Thomas, told Hon. Elegbeleye that in the last 70 years; “Of the three gold medals won

by Team Nigeria at the modern Olympic Games since Helsinki’52 Games, two were won by track and field athletes. Tracks and field has also recorded more success than other sports at the Commonwealth Games and the All Africa Games.”

World Record

On Marble

A man who won't die for something is not fit to live.

– Martin Luther King

The Pacific Ocean is the largest body of water on Earth, covering approximately 155 million square kilometers (59 million square miles).

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, JULY 21, 2014

T

N150

Growth is possible if ...

he economy is an apex priority in our country during this term of government. We have decided to place the economy on the centre stage because we believe that sustainable economic growth is possible if we seek meaningful partnerships locally and worldwide.

Growth is also possible if we, as government, actively support our partners in the private sector to create a positive environment for business to thrive. We are therefore looking forward to fruitful partnerships in the next five years.

We have set a growth target of five percent by the year 2019. We view this occasion today as a key contribution towards attaining that goal.

FAW has been in our market for 20 years providing passenger and commercial vehicles. However, your decision to locate the production facility in Coega is a most welcome vote of confidence in Nelson Mandela Bay and in the Eastern Cape Province.

The investment of R600 million into the economy will create much needed jobs and promote an improvement in the lives of many people in this area.

This investment also augurs well for South Africa's position within the global automotive manufacturing network and proves once again that we have an attractive operating environment to host global multinational companies.

In addition, as a member country of BRICS, we are encouraged by this investment as it demonstrates the practical benefits of this strategic forum.

We will this weekend travel to Brazil to attend the sixth BRICS forum, and will do so pleased with the tangible benefits of that innovative relationship.

We trust that the potential of this new beginning will be shown with this facility realising and even surpassing its target of 5000 trucks in the first phase, as well as other passenger and light vehicles.

I also thank the China-Africa Development Fund for supporting this initiative.

We also congratulate all partners in this important project, such as the management of the Ngqura port as well, which is one of the busiest deep-water ports in Africa.

We remain very committed to developing and growing the automotive sector in our country.

Over the last 20 years we have employed the Motor Industry Development Programme, and more recently the Automotive Production Development Programme, as the focal industrial policy instruments to transform our automotive industry.

The aim was to migrate our industry from a small assembly base to a globally

Guest Columnist Jacob Zuma

competitive one producing vehicles for both domestic and international markets.

Our intention is to create an environment that will enable the domestic industry to significantly grow production volumes.

In this regard, our Vision 2020 strategy for the industry refers to the doubling of local vehicle production and broadening and deepening of component manufacture by the year 2020.

To further advance this goal, we have completed preparatory work towards establishing an Investment Support Programme for the medium and heavy commercial vehicles.

This instrument will assist us to position South Africa as a destination of choice for the assembly of medium and heavy commercial vehicles.

To further support the expansion of business activities and productivity in the country, our biggest focus over the next five years will be on building a sustainable energy mix including coal, solar, wind, nuclear and shale gas. Energy security will further enhance our country's global competitiveness. May I also, indicate that FAW has chosen the right continent in which to invest at this point in world economic history.

The African continent is home to some of the fastest growing economies in the world and there remains greater potential for further growth, particularly in the transport of goods as trade volumes increase.

The entire African continent is also embarking on an intensive infrastructure development aimed at also encouraging inter-Africa trade through improved connectivity.

The Regional Economic Communities, namely the Southern African Development Community, COMESA and the East African Community are in negotiations to achieve a Free Trade Area. The project will bring together 26 countries with a combined population of 600 million and an overall GDP of approximately 2 trillion US dollars. Such a massive market augurs well for global companies such as FAW. To further support intra-regional trade within the continent, a Trans African Highway programme has been established to link Africa's capitals on eight major

Zuma

routes.

Once this highway has been completed, we expect to see a major boost in intercountry trade and provision for landlocked countries to access harbours.

Also envisaged is the creation of much needed direct routes between capitals of the continent and to promote the economic and social integration of Africa.

In return, the increase in trade will contribute towards a growing demand for heavy commercial vehicles thus expanding markets for FAW and other companies in this sector.

Given all these opportunities, and in line with the National Development Plan and the New Growth Path, our Government is investing heavily in local and continental infrastructure development in the medium to long term. We are therefore living during an era of great promise in the continent economically.

We will continue to provide support to the South African private sector and global companies based in our country, so that they can take advantage of opportunities and help us to promote job creation and a better life for our people.

As we meet to celebrate this occasion, we are also all aware of the worker strike in the metal industry sector. We do not believe there is cause for alarm regarding worker action at any point. South Africa has a progressive labour relations framework.

Both worker and employer rights are

entrenched in the Constitution and all parties know how to go about resolving any disputes that arise, using the country's effective and efficient labour relations and dispute resolution mechanisms. In this regard, Government is providing support through the Ministry of Labour and its structures.

We wish the parties well as they discuss their issues, and trust that they will reach a mutually beneficial agreement without much delay. The metal industries sector needs to go back to full production as soon as possible.

While respecting the constitutional and hard-won worker rights, let me emphasise that government will always act against those who use violence and intimidation to advance their cause.

We have enough instruments in our labour relations machinery to resolve labour disputes. There is no need to resort to violence. We condemn all acts of violence that have been reported thus far.

Let me once again congratulate all partners in this milestone project.

We warmly welcome FAW's decision to assemble its vehicles locally. We wish you success, growth and prosperity, which will translate to growth and prosperity for workers, their families and the local economy.

It is my honour and pleasure to welcome FAW as a full commercial citizen of South Africa and to officially open this new assembly plant.

• Zuma, South African President issued this statement at the launch of First Automobile Works (FAW) vehicle assembly production plant at COEGA, Port Elizabeth

OmoBaba

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