Monday, may 9, 2016 binder1

Nigerian travellers pursue cheap fares to Accra

lNation’s aviation may lose over N100bn lDelta, United Airlines accept only dollar payment Wole Shadare

N

igeria’s neighbour, Ghana, is reaping bountifully from

aviation, as passengers now fly to Europe, United States and other parts of the world via Accra, making the nation to lose annu-

ally about N100 billion in taxes and other ancillary services.

Aviation experts who spoke to New Telegraph

said the development where travellers go to Accra to catch international flights would hurt the sector in Nigeria and, by ex-

tension, the economy.

They added that it is also a reflection of the slowdown in consumers’ purchasing power and,

by extension, the broader economy.

They put the country's loss annually at approxiCONTINUED ON PAGE 3

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Monday, May 9, 2016

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NNPC records N107.8bn }2 revenue, pays N69bn to govt

N150

Anxiety in APC over board appointments Oshiomhole

Kanu

Amaechi

Kachikwu

lParty nominates 2,035 members for consideration }2 No respite for rickety Ijora-Apapa Bridge

}4

Different sections of the dilapidated Ijora-Apapa Bridge in Lagos… yesterday.

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Why I collected N950m campaign funds –Wali lSays money was shared in Shekarau’s residence lFani-Kayode faces EFCC today }3 New treatment procedure raises hope on cancer cure }6

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NEWS

MONday, May 9, 2016 NEW TELEGRAPH

Anxiety in APC over board appointments

Johnchuks Onuanyim Abuja

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here is high apprehension in the All Progressives Congress (APC) as members of the party await the release of appointments into the boards of federal agencies and parastatals, as well as appointments for chief executives of these agencies.

Already, names of 1,850 party members in 36 states and the Federal Capital Territory (FCT) have been submitted for consideration as members of boards of agencies, parastatals and commissions of the Federal Government.

Also, names of 185 APC members have been submitted to President Muhammadu Buhari for appointments as heads of Ministries, Departments and Agencies (MDA) of government.

Members of the National Working Committee (NWC) of the APC are also awaiting the an-

nouncement. Some of the NWC members have been pencilled for board and ambassadorial appointments.

APC National Chairman, Chief John OdigieOyegun, is expected to be sent on diplomatic mission as ambassador.

Other NWC members expected to be given board and diplomatic appointments are: Deputy National Chairman (South), Engr. Segun Oni; National Secretary, Alhaji Mai Mala Buni; National Organising Secretary, Senator Osita Izunaso; National Legal Adviser, Dr. Muiz Banire (SAN); and Deputy National Chairman (North), Senator Lawal Shuaibu, among others.

The appointments are being expected barely one year after the party took over the reins of governance and several months after Buhari dissolved all the boards and relieved the heads of some of these organisations of their duties.

The leadership of the APC had earlier accused

the heads of parastatals and agencies appointed by the previous administration of sabotaging the efforts of the present government.

Leaders of the party had expected an immediate replacement of the sacked chief executives, but the Presidency appeared not in a hurry to fill those vacancies.

As a prelude to making new appointments, the Presidency had directed each state chapter of the party to submit 50 names for board appointments and five names for the position of chief executives in these agencies and parastatals.

Those nominated would have to jostle for the headship of organisations such as Petroleum Products Price Regulatory Agency (PPPRA), National Orientation Agency (NOA), News Agency of Nigeria (NAN), Petroleum Technology Development Agency (PTDF), Petroleum Equalisation Fund

(PEF), Nigeria Television Authority (NTA) and the National Agency for Food and Drug Administration and Control (NAFDAC), among others.

New Telegraph learnt that it was the contest among party leaders to have their choice candidates nominated for these positions that led to the current crisis in Bayelsa State.

The leadership of the party in the state had accused the party's governorship candidate in the last election, Chief Timipre Sylva, of filling all the five slots with his cronies.

The perceived delay in making fresh appointments was a major agenda during the last National Executive Council (NEC) meeting of the party.

Members had expressed concerns that they have not been appointed into these vacant positions after they worked for the party to secure victory at the 2015 general elections.

In response to these

complaints, Buhari apologised to them and explained that the delay was due to the restructuring of the MDAs and the need to streamline the various positions.

"For the party, I will like you to continue to make sacrifice. I know you are being harassed since the election that they haven't seen anything on the ground.

When we came in after 16 years of the Peoples Democratic Party (PDP), we met 42 ministries. We reduced them to 24, removed 21 Permanent Secretaries.

Having cut 42 to 24, correspondingly, the parastatals will be cut down to some size and realigned and the boards reconstituted. So, please, try to bear with us as we reflect on where we found ourselves," Buhari said at the meeting.

However, a chieftain of APC who prefer to remain anonymous said that the delay in appointing party faithful into positions was very worrisome and has impacted negatively on both the members and the party.

"For close to one year now, we are in government, but we are not in governance. All these people that they are catching for stealing money, they are still the same set of people who are in the system, covering their people who have left.

146.56m

L-R: Emir of Daura, Alhaji Faruk Umar Faruk; Katsina State Governor, Aminu Masari and President Muhammadu Buhari, in Daura, Katsina State… yesterday.

The total number of active lines of Nigeria in May 2015.

Source: Ncc.gov.ng

10%

The crude death rate of Western Europe in 2010-2015.

Source: Un.org

NNPC records N107.8bn revenue, pays N69bn to Federation Account lSubsidiaries lose N18.89bn in March

T

he Nigerian National Petroleum Corporation (NNPC) has paid N69.544 billion into the Federation Account in March.

This is contained in the corporation's monthly financial report for March released in Abuja.

It said that the amount had brought the total amount paid to the Federation Account for Domestic Crude Oil and Gas and other receipts from April 2015 to March 2016 to N1.118 trillion.

It added that NNPC also recorded N107.826 billion revenue in the month of March against N104.804 billion in February.

It said that the revenue rose marginally by 2.88 per cent, adding that the expenses of the corporation dipped by 12.92 per cent

to N112.368 billion from N129.034 billion recorded in previous month.

According to the report, the corporation also made a loss of N18.89 billion in the month under review.

It said the loss was an improvement from a deficit of N24.23 billion recorded in February.

A breakdown of the financial performance of its subsidiaries showed that the Nigerian Petroleum Development Company (NPDC), Integrated Data Services Limited (IDSL) and National Engineering and Technical Company Limited posted losses of N9.874 billion, N469 million and N69 million, respectively.

It reported that the Nigerian Gas Company recorded a profit of N5.155 billion.

“Kaduna, Port Harcourt and Warri refining companies recorded losses of N1.824 billion, N1.971 billion and N845 million, respectively, while the PPMC recorded a deficit of N923 million,” it added.

The report said that the deficit recorded by NPDC in February and March 2016 was due to production shut-in occasioned by vandalism of Forcados Export Line.

This, it said, resulted in the loss of its entire revenue from crude oil sales of about N20 billion.

The report also put the combined value of output by the three refineries at import parity price in March 2016 at N22.93 billion, while the associated crude plus freight cost was N20.02 billion.

It said that this gave

negative margin of N3.95 billion after considering overhead of N6.87 billion.

The report also said that a total of N85.66 billion was collected as sales revenue from white products sold by the PPMC in the month of March 2016 compared with N85.23 billion collected in the previous month.

“Total revenues generated from the sales of white products for the period April 2015 to March 2016 stands at N775.90 billion where PMS contributed about 88.85 per cent of the revenues collected with a value of N689.41 billion," it stated.

The NNPC recorded total export proceeds of $170.12 million in the month under review with crude oil export accounting for $98.31 million, while gas export accounted for $71.81 million.

On dollar payments to Joint Venture Cash Call, it said total export proceeds of $141.87 million were recorded in March 2016, consisting of crude oil receipt of $88.36 million.

It added that Liquefied Petroleum Gas (LPG) and Escravos Gas to Liquid (EGTL) recorded a proceed of $1.52 million and miscellaneous receipts amounting to $51.99 million.

“The drastic slump in total export receipt is largely due to shut in of about 300,000 barrel of oil per day (bopd) at Forcados Terminal, following the force majeure declared by Shell Petroleum Development Company (SPDC) on 15th February, 2016.

“Hence, all un-lifted February and March cargoes were deferred until the repair is completed,” the report stated.

“There are people who worked for the success of the APC. It is not only Buhari that won the election; he was just an individual. It could have been anybody; it could have been Rabiu Kwakwanso; it could have been Atiku Abubakar.

People must be worried going to one year now and you know that in politicking all over the world, if it is a term of four years, you know you have barely two active years and one year is gone now.

"So, I think people should be worried that Mr. President should release these appointments and, as you know in economics, there is what is called trickling down effect. I am quite sure that everybody who is a member of this party should be worried over the delay in the appointments and those that will tell you that they are not worried are those who are ministers and what is the percentage?

"We have today over 160 ambassadorial positions that are vacant. That means that every state in the country would have a minimum of three ambassadors. If you have these ambassadors, they would be leaders of the party in their states. So, people are becoming disenchanted," he said.

However, another chieftain of the party expressed a different opinion and explained that a number of factors were responsible for the delay in the appointments.

Some of these factors, he said, have to do with the delay in the passage of the budget. According to him, it would be wrong for the Presidency to make appointments and to continue to pay salaries without concluding the process of the 2016 budget.

He also explained that the proposed merger or scrapping of some agencies was also partly responsible for the delayed appointments.

"I appreciate the feelings of my colleagues in the party, but what I have to say is that they should have more patience with the president. Whatever is worth doing at all, is worth doing well," he said.

It was learnt that the meeting of the ruling party's G-19 leaders, hosted by Buhari last Wednesday night at the presidential villa, Abuja, centred on pending political appointments, especially those of chairmen of boards of federal parastatals.

Although the agenda of the meeting was not disclosed, our correspondents scooped that the reconstitution of the APC's Board of Trustees (BoT) may have been discussed.

NEWS

MONday, May 9, 2016 NEW TELEGRAPH

3

Why I collected N950m campaign funds – Wali

Muhammad Kabir KANO

A

former Minister of Foreign Affairs, Alhaji Aminu Wali, has explained why he collected the N950 million campaign funds for Kano State.

Wali was arrested on Thursday by the Economic and Financial Crimes Commission (EFCC) over the campaign funds.

Speaking on a local ra-

dio programme monitored in Kano yesterday, the former Nigeria’s Ambassador to China admitted receiving the campaign funds as the head of a seven-man committee for Kano State.

The committee also included former Minister of Education, Malam Ibrahim Shekarau; Senators Bashir Lado and Bello Hayathou of the Seventh Senate; Kano State chairman of the Peoples Democratic Party (PDP), Alhaji Rabi'u

Dansharu and Goodluck Jonathan Campaign Coordinator, Mansur Ahmad.

He, however, insisted that the money was taken to Shekarau’s house where it was shared.

Wali said he did not benefit personally from the campaign funds.

The former minister stated that he only collected the money from Abuja because he was the most senior in the committee.

The former envoy said

Nigerian travellers pursue cheap fares to Accra CONTINUED FROM PAGE 1

mately N100 billion in taxes and other ancillary services that are going to the coffers of Ghana.

Former President of National Association of Nigeria Travel Agencies (NANTA), Alhaji Aminu Agoha, said that Nigerian travellers are now developing the Ghanaian economy.

He lamented that travel agencies in Ghana are making huge sales from the Nigerian travellers while most of the Nigerian agencies are folding up.

The decision to travel to Europe and other parts of the world via Accra for passengers from Nigeria is worsened by the carriers’ actions, especially American carriers such as Delta, United, which now demand US dollars for the purchase of tickets; a clear departure from the past where tickets were purchased in naira.

This is also coming at a time when virtually all the foreign airlines operating to Nigeria have increased fares by over 100 per cent, compared to Ghana, which still charges about 50 less of the fares charged travellers from Nigeria.

New Telegraph’s findings show that these airlines now charge an average sum of $2,500 for a Lagos-New York economy class return ticket, while from Accra, it costs $1,500 or less if the fares are promotional.

For instance, a British carrier charges $10,070 for a First Class flight ticket from Abuja to London, while passengers flying from Accra to London pay $4,943 for the same class of ticket.

Abuja-London Premium Economy ticket costs $3,208, while Accra-London ticket of the same category is $2,240. The Economy ticket on the same flight costs $2,140 from Abuja, but $1,156 from Accra.

Lufthansa’s rate for Abuja-Frankfurt Economy class ticket is $3,661 while Accra-Frankfurt on the same class of ticket is $1,330.

Alitalia charges $863 for one of its Accra-Rome Economy tickets but $1,509 for the Lagos-Rome equivalent.

Industry watchers say that the implication of this is that passengers who are unable to access forex at the official rate (N200 per dollar) will be left with the option of paying for tickets in dollars using the elevated black market rates (N320 per dollar).

Also, checks revealed that a first class ticket to Las Vegas from Lagos is N1.8 million more than a first class ticket to the same destination from Accra.

A top official of a British carrier attributed the astronomical increase in fares between the two countries to airlines’ huge revenue that was trapped in the Central Bank of Nigeria (CBN), arguing that if their revenues would be delayed, they want to make sure that they do not lose the value of their fares.

The carriers are piqued over their $2 billion with the CBN, which they find difficult to repatriate.

One of the carriers that spoke to this newspaper, but elected that his identity be veiled, said: “When we (carriers) go there, CBN gives us just 10 per cent of what we have. The foreign airlines have complained that they need cash, which they use to buy fuel, pay for lease, catering and so on.

“You can only benefit from the promotional fares if you are using dollar-denominated cards, which means they are getting their money directly.

So, these monies we are getting in piecemeal and if they devalue the naira now, the airlines will lose substantial part of their money trapped with CBN.” Managing Director, AshtonDave Travels and Tours, Mr. Abiola Lawal, recently told New Telegraph that the situation portended serious crisis for the travel industry in Nigeria, adding that what was playing out would limit choices for travellers.

The situation, he said, was counterproductive for the sector. “It is not good for all stakeholders across the value chain. It is not good for airlines and it gives the country a bad image. It affects our reputation as Nigerians,” he said.

Lawal said that there is need for a stakeholders’ meeting on how to resolve the problem, which has seriously affected them, culCONTINUED ON PAGE 5

he subsequently handed over the money to the committee, which now shared it in Shekarau’s residence in Kano.

Among the beneficiaries of the campaign funds, according to Wali, are Shekarau, Ahmad, Dansharu, Lado and Hayatou.

The former minister said he was only invited by the EFCC to explain what he knew about the money and he was allowed to take his leave.

Shekarau may appear before the anti-graft agency to explain his role in the sharing of the N950 million campaign funds.

A source said the commission had invited Shekarau to its Kano office today to answer questions relating to the funds.

The EFCC had, on Thursday, grilled Wali and ex-Minister of State for Foreign Affairs, Dr. Nurudeen Mohammed.

Both Wali and Mohammed served in the Goodluck Jonathan administration.

Mohammed was alleged to have collected N500 million from the campaign

1,593.6m The estimated total population of Eastern Asia in 2010.

Source: Un.org

1.22m

The total area (in sq. km) of land of South Africa.

Source: Worldfactsandfigures.com

funds.

It was learnt that the amounts were part of money said to have been allegedly budgeted for the 2015 general elections by Mrs. Diezani Alison-Madueke, the former Minister of Petroleum Resources.

Also, operatives of the EFCC, last week, arrested the Cross River State Chairman of the PDP, Mr. Ntufam John Okon.

Okon was arrested in connection with the $115 million campaign funds.

The Managing Director of Fidelity Bank, Mr. Nnamdi Okonkwo, has since been in the custody of the anti-graft agency over the money.

One of the sources, which spoke on condition

of anonymity, said the PDP state chairman allegedly, received N500 million from the campaign funds.

Okon was arrested on Thursday in Calabar, the Cross River State capital.

Meanwhile, former Minister of Aviation, Chief Femi Fani-Kayode, will appear at the EFCC office in Abuja today.

Fani-Kayode, who was director, media and publicity of the PDP Presidential Campaign Organisation in 2015, was said to have received N840 million for the campaign project.

Operatives of the EFCC stormed Fani-Kayode’s residence on Friday after an invitation on the former minister to appear before the commission today.

Some members of the party, including former Imo State governor, Chief Achike Udenwa; former Minister of Finance, Mrs. Esther Nenadi Usman and ex-Minister of State for Foreign Affairs, Prof.

Viola Onwilari have been invited and questioned by the anti-corruption agency in relation to the campaign funds.

L-R: Former Governor of Imo State, Ikedi Ohakim; Governors Dave Umahi (Ebonyi), Ifeanyi Ugwuanyi (Enugu); Deputy Senate President, Ike Ekweremadu; Abia State Governor, Dr. Okezie Ikpeazu and former Governor of Anambra State, Mr. Peter Obi, at a South-East stakeholders' meeting in Enugu... yesterday.

Uncertainty over PDP national convention Onyekachi Eze ABUJA

T

here are palpable fears over the May 21 National Convention of the Peoples Democratic Party (PDP) scheduled for Port Harcourt, the Rivers State capital.

This is because certain grey areas, which ought to be smoothened before the convention, are yet to be attended to.

This ranged from the agitation by deputy national officers who still believe that their tenure would expire in 2017 (because they were elected into office in August 2013), to the rumoured court action by Dr. Ayodele Adebo-led Concerned PDP Members seeking to stop the convention.

At its mid-convention

on August 31, 2013, eight national officers and their deputies were elected.

One of the deputy national officers told New Telegraph at the weekend that the constitution of the PDP guarantees fouryear tenure for all elected officers from ward to the national level.

"No organ of the party is authorised to alter that except you alter the constitution.

"I hear they have zoned certain offices, but I have not heard anyone resigning from the offices that have been declared because I believe there is no vacancy.

"Except vacancy has been created, there won't be any election into such offices," he said.

He, however, denied that the deputy national officers are in court to stop the con-

vention.

There is concern that the convention might be postponed.

For instance, the forms for the national offices to the contested for at the Port Harcourt convention are not yet on sale, less than two weeks to the convention.

A national officer of the party, in response to the delay in the sale of the forms asked rhetorically: "Are the forms ready?"

He, however, admitted that there are some issues concerning the convention that are yet to be resolved.

"You cannot say precisely what is happening to the convention. There are so many problems. One is the position of Jerry Gana and Babangida Aliyu (groups) that the convention should be shifted. And there is

the other issue that some people have gone to court.

"It is just a rumour. By Wednesday, we will be able to know, but it may likely be a reality," he said.

PDP has scheduled its National Executive Committee (NEC) meeting for Wednesday, May 11, to discuss amendment of the constitution, which will be presented for ratification at the convention.

But the issues threatening the convention might dominate discussions at the NEC. The PDP source said all the contending issues would be tabled before the NEC members.

The source said he was aware that some people are planning to hold a parallel convention, but added, "Everything will be known when the NEC meets."

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NEWS

No respite for rickety Ijora-Apapa Bridge

Dayo Ayeyemi

D

espite public outcry over the precarious state of the IjoraApapa Bridge in Lagos, the Federal Government appears not to be bothered, as nothing has been done to remedy the situation.

For motorists, commuters and residents plying the bridge to and from Apapa and Lagos Mainland, their experience on a daily basis is better imagined.

At the moment, residents and motorists are nursing fears that the bridge may give way soon, leading to destruction of lives, properties and businesses if nothing is urgently done to salvage the situation.

They claimed to have

made different calls to the Federal Government on the precarious state of the bridge and the need to work on it, but that their pleas seem to have fallen on deaf ears.

Although, the Lagos State Government carried out some repair works on the expansion joints of the bridge two years ago, one of the residents, Mrs. Taiba Shogbade, said the repair works were done on one of the interchanges and not on the particular link bridge.

When New Telegraph carried out a tour of the bridge last week, potholes on the bridge had increased, while some of the asphalt overlays had peeled off, exposing its disjointed structural elements to weather.

A motorist, Mr. Abayo-

mi Tokunbo, who works with an oil and gas company, told our correspondent that nothing had changed about the damaged bridge.

He said that the situation had grown worse over time.

Our correspondent’s effort to seek the official position of government on the state of the bridge met a brick wall, as no official of the Federal Road Maintenance Agency (FERMA) at the Ijora office was ready to talk.

One of them asked this correspondent to direct his queries to Abuja, adding that “the bridge is still in order and all technical assessments of the bridge have been submitted to the head office.”

Further investigation revealed that FERMA lacked the required fund

to properly rehabilitate and maintain the facility.

However, stakeholders claim that the dilapidating nature of the bridge has been responsible for prolonged traffic jam, damage to vehicles and stress commuters encounter on the bridge as they move to and from Apapa, Lagos Island and mainland.

Ijora Bridge is a major entry route into Apapa, where the nation’s mostutilised seaports are located.

Its interchange, which stretches from Apapa to Ijora Bridge, Ijora to Eko bridge, Apapa link bridge to Naval/Dockyard road, Ijora to Ajegunle and Brewery to Alaka axes, has been badly damaged.

From physical assessment, the expansion joints of the bridge are terribly

Minister of Solid Minerals Development, Dr. Kayode Fayemi (middle), examining sample of bitumen scooped from a site in Agbabu, in Odigbo Local Government Area of Ondo State… at the weekend.

disjointed from their members; columns supporting the bridge are already peeling off, while condition of its alignments cannot be ascertained.

The condition of the bridge has worsened in the last one year as heavyduty vehicles, oil tankers and container-laden trucks converted it to parking bay, following the unending traffic snarl in Apapa area.

A commercial cab operator under the bridge, Mr. Sulaimon Oseni, said the poor condition of the bridge was a major concern to them.

Apart from the stress of having to endure the traffic jam due to the poor state of the bridge, he said passing through some spots when climbing the bridge had become an unpleasant experience to motorists.

Apart from trailers that always queue on the bridge to Apapa ports, he stated that motorists had to slow down at the locations of the expansion joints and bumps, leading to huge traffic jam as they struggle to outwit one another.

Oseni said the bridge had been derelict for over 10 years, adding that it was also engulfed in fire about four years ago.

Since the fire incident, he said the condition of the bridge had worsened; noting that the volume of traffic, especially trucks loading petroleum products from Apapa, was a

MONday, May 9, 2016 NEW TELEGRAPH

contributing factor.

A trader under the bridge, who simply identified herself as Iya Ibadan, narrated that at a time, the state government relocated some cab operators and traders hawking under the bridge due to fear that the bridge could collapse unexpectedly.

Another cab operator, who did not want his name mentioned, said that the damaged expansion joints of the bridge had been a source of vehicles breakdown.

Minister of Power, Work and Housing, Mr. Babatunde Fashola, recently stressed the need to strengthen FERMA, disclosing that there was a bill that he met seeking to reform the road sector.

Fashola said because he was not there when the bill was passed to the parliament, it was sent to him for his input, which he had already done.

“The inputs that have been made have gone to parliament and parliament has been graceful enough to send it back to me to make my input because they had started considering it before I came in. I have made those inputs and now we are planning to go back to them,” he said.

According to him, the bill is essentially to strengthen the road maintenance capacity of government and also “to put sustainability into financing and maintaining roads as people have done all over the world.”

Unlawful detention: Court slams Fashola restates FG’s commitment to develop infrastructure N10m damages against EFCC Tunde Oyesina ABUJA

A

n Abuja High Court has ordered the Economic and Financial Crimes Commission (EFCC) to pay N10 million damages to an Abuja-based foreigner and security expert, Mr. Wolgang Reinl, over his unlawful detention and seizure of his international passport by the anti-graft agency.

The order followed a suit filed by Reinl through his counsel, Afam Osigwe, against the EFCC. Reinl had challenged his arrest and detention by the anti-graft agency for no just cause.

Delivering judgement in the suit, the trial judge, Justice Peter Affen, held that the N10 million fine was imposed as compensatory damages for the violation of fundamental rights and dignity of human person and personal liberty of Reinl.

Justice Affen further barred the EFCC from arresting, re-arresting, detaining or embarking

on further seizure of the international passport of the plaintiff who is an Austrian security consultant.

The court also ordered that EFCC must, forthwith, release the international passport, chequebooks and cell phones seized from the plaintiff in the wake of his arrest and detention.

In addition, the court ordered EFCC to delist the plaintiff's name from their watch-list or no-fly list as doing so infringes on his fundamental rights to freedom of liberty.

The court, however, held that the detention of the plaintiff at the EFCC custody in Abuja for over a month was unlawful, unconstitutional and constituted a gross violation of the plaintiff’s fundamental right to dignity as enshrined in Sections 34 and 35 of the 1999 Constitution.

Reinl had, in the suit, prayed the court for an order of injunction restraining EFCC by itself, servants, privies, agents or whosoever purporting to act on its behalf from violating or further violating his fundamental right

as guaranteed by Sections 34, 35 and 43 of the 19999 Constitution.

The plaintiff also prayed the court for an order to remove his name from the EFCC watch-list and to direct the anti-graft agency to tender a public apology to him and also for the immediate release of his international passport and other confiscated properties.

At the argument stage, the EFCC, while denying ever arresting, detaining or seizing any property of the plaintiff, asked the court to dismiss the suit for lacking in merit.

The anti-graft agency argued that their detention records did not indicate anything like that.

14

The life expectancy of men at age 60 years of DPR Korea in 2010-2015.

Source: Un.org

16

The life expectancy of women at age 60 years of DR Congo in 2010-2015.

Source: Un.org

T

he Minister of Power, Works and Housing, Mr. Babatunde Fashola, has restated the Federal Government’s determination to develop stable power supply, good road network and affordable housing for Nigerians.

This is contained in a statement issued yesterday by the Minister’s Special Adviser (Communications), Mr. Hakeem Bello.

Fashola gave the assurance when he spoke at the African Alliance 2016 Investors Day in Lagos.

He stated that the ministry was determined to achieve results by doing things differently to develop sustainable infrastructure to convert current challenges to opportunities for economic growth.

He decried the problems inherent in the entire power chain, “from distribution to transmission, generation and gas supply, including a cross-cutting liquidity problem.”

Fashola said the existing gap of meter supply in the distribution segment of the power chain had created enormous opportunities for local production for estimated three million consumers.

“Local producers or investors are expected to meet a significant local content participation that would help Small and Medium Enterprises supply an estimated three million consumers who needed to be metered.

“Apart from metering, the distribution companies have aging assets: Transformers, ring main units, poles, cables, breakers and so on, some of which are 20 to 30 years old.

“It is a problem on one hand and enormous opportunity on the other hand," he said.

The statement stated that the ministry planned to complete about 47 transmission projects to deliver 1,000 megawatts this year to expand national growth plan.

The statement said that the Federal Government, in spite of low oil revenue, had upgraded budgetary allocation to ensure completion of existing roads across the six geo-political zones.

“This is the first step to sustainability. But it is not enough to budget.

It is important to implement the budget and use the finances properly.

“We plan to phase 206 roads over three years to ensure completion or substantial progress of existing roads with heaviest traffic and strategic economic significance in each of the six geo-political zones.''

The minister said an agreed common purpose and parameters must be defined to have a sustainable and affordable housing design that had national acceptability.

The minister disclosed that the Federal Government, in partnership with the private sector, was on a Nigerian housing model that would consider geo-political cultural differences.

NEWS

MONday, May 9, 2016 NEW TELEGRAPH

5

I didn’t frustrate recovery of N300bn stolen funds –AGF Tunde Oyesina ABUJA

T

he Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), has denied frustrating the recovery of alleged N300 billion stashed away by individuals in different Nigerian banks as well as some ministries, departments and agencies (MDAs).

Dr. George Uboh and his company, Panic Alert Security System (PASS), had, in two separate letters of complaint to President Muhammadu Buhari, accused the AGF of frustrating efforts to recover already identified funds.

Buhari had, in turn, asked the AGF to respond to the allegation by Uboh.

Malami, in his response to the president through the office of the Chief of Staff, Alhaji Abba Kyari and dated April 4, with Reference Number HAGF/ SH/2016/Vol.1/20, refuted the allegations.

The AGF, however, described as false the claims

by Uboh that he deliberately frustrated him in his effort to recover the over N300 billion his company, PASS, traced to some banks.

The minister also stated as untrue the insinuations that he made an unholy alliance with the banking sector mafia not to cooperate with PASS, and/or that he promised Access Bank that he would call Uboh to soft pedal on the bank.

The letter reads in part: “I must state that the above allegations are untrue, incorrect, false, a figment of the imagination of the author and a smear campaign

by Dr. Uboh to tarnish my name. I did not make, never made and will never make any alliance with anyone in and outside of the banking industry to frustrate PASS or any firm from recovering any FGN’s funds stashed/trapped in the listed banks or any bank or company in Nigeria or elsewhere.

“In demonstration of my firm commitment to the recovery efforts of the FGN, I gave PASS a letter titled: To Whom It May Concern dated 17th February, 2016, introducing PASS to the aforesaid banks/financial institutions.”

The AGF further noted that the letter of engagement dated 9th February, and the subsequent Letter of Introduction dated 17th February, were given to

1.04m

The total area (in sq. km) of land of Colombia.

Source: Worldfactsandfigures.com

PASS on the firm understanding that PASS had already identified and/or traced specific FGN funds stashed/trapped in the aforementioned banks and that PASS would promptly embark on processes that would lead to actual recovery and remittance of the traced funds into the designated account of the FGN in line with the proposals submitted, presentations made and the terms contained in its letter of 9th February.”

On why he had to revoke the letter of engagement given to PASS, Malami said he took the action when he discovered that it was on window-shopping mission upon receipt of the letter by going beyond his brief, embarking on subtle threats to all banks, some private individuals and entities solely to shop for data and information to execute the brief contrary to the representations made to the minister.

He added that in manner that clearly demonstrated that PASS was merely on a voyage of information and window-shopping, PASS, upon receipt of the letters, went to town and unilaterally expanded the scope of its brief far beyond the 13 banks covered by his brief and embarked on subtle threats to all banks and some individuals.

The AGF revealed that he was inundated with the excesses of Uboh of PASS and later found out that PASS actually wrote several banks, private individuals, corporate entities (national and multinationals), government agencies and virtually all FGN’s ministries soliciting for data, information, official records, remittances (funds and stocks) and records of whereabouts of all forfeited assets not yet disposed of by some of the FGN agencies, amongst other things.

The minister further submitted that Uboh had solicited and requested bank officials to allow him access to certain encrypted systems in order to enable him extract relevant information to execute the brief without appreciation of the security implications of such a delicate venture on Nigeria’s financial sector and without any prior discussions with and approval from him.

Besides the 13 banks, the minister stated that Uboh went beyond his brief by writing all ministers, managing directors of 25 Money Deposit Banks (MDBs), FSDH Merchant

16%

The percentage of the population of women above 60 years of DPR Korea in 2012.

Source: Un.org

Bank Limited, CitiBank Nigeria Limited, FBN Holdings Plc., Asset Management Corporation of Nigeria (AMCON); Chairman, Federal Inland Revenue Service (FIRS); former Chairman, Presidential Amnesty Committee; and DG/CEO, National Identity Management Commission (NIMC).

Malami stated that PASS also wrote the Chairman, Independent Corrupt Practices and Other Offences Commission; Inspector General of the Police (IGP); Ag Managing Director, Niger Delta Development Commission (NDDC); Managing Director, Petroleum Products Marketing Company (PPMC); Managing Director, Nigerian Ports Authority (NPA); and Acting Chairman, Economic and

Financial Crimes Commission (EFCC).

Letters, according to him, were also sent to the immediate past Comptroller General of Customs, Alhaji A. Dikko Inde; Mr. Bello Adoke (SAN), Mrs. Nenadi Usman, Senator Godswill Akpabio, Mr. Tony Chukwu, Technip Offshore Nigeria Ltd., Halliburton Energy Services Ltd., Intels Nigeria Ltd., TransOcean, Marubeni Nigeria Ltd, Nobles Drilling Nigeria Ltd., Japanese Gas Corporation Nig. Ltd., Snamprogetti, SIEMEMS, Julius Berger Nig. Ltd., Governor, Central Bank of Nigeria and Accountant General of the Federation.

“In view of acting outside the scope of its brief and given the ways and manners Uboh was going about the execution of the

brief which was clear to me would embarrass the FGN, and in order to avert any likelihood of security breach of high magnitude in the banking sector, I exercised my power under the letter of engagement dated 9th February, 2016 by revoking the letter of engagement I earlier gave PASS vide my letter dated 24th March," he stated.

The AGF, however, noted that his decision to revoke the instructions was further re-enforced by the startling revelations, which were not disclosed to him (Uboh) that was requesting for those sensitive materials from the banks was that he was indeed an ex-convict prosecuted after US law enforcement agents carried out a major raid on a credit card and bank fraud ring led by Uboh in

Georgia in 1992.

He noted that he reportedly came out of jail on January 16, 2001.

“Your Excellency, permit me to state emphatically that I did not fail to recover the above captioned sum allegedly traced by PASS as alleged. The fact is that the terms of letter of engagement I gave to PASS on 9th February, 2016 did not only place a duty on PASS to trace funds trapped in the listed banks (which to all intents and purposes PASS did not do prior to my revocation of the letter of engagement of PASS for acting outside its brief), the said letter of engagement imposed on PASS duties to trace, recover and remit FGN’s funds trapped in the 13 banks listed in paragraph 2 of the letter," Malami noted.

President, New Era Foundation, Senator Oluremi Tinubu (fourth left) with the 2016 beneficiaries of the foundation's scholarship scheme, during the presentation of cheques, in Lagos....at the weekend.

Delta, United Airlines accept only dollar payment CONTINUED FROM PAGE 3

minating in a sharp drop in passengers for the carriers.

He said: “This situation has a lot of implications for Nigeria and one that affects the value chain. When I look at the Global Distribution System (GDS), everything reads zero down. All the discounted fares have been taken off.”

He said no economy developed well where there is no free movement of people and services.

“It is not good when tickets are being restricted. This is a very strategic industry and we have no choice than to make it better,” he added.

Chief Executive Officer, Zigona Travel, Ngozi Ngooka, said that she could not explain why the airlines decided to hike fares at these hard times, but acknowledged that fares are higher compared to last year.

A former Managing Director of the defunct Nigeria Airways, who preferred anonymity, said the trade movement between Nigeria and Ghana, which had increased over the years, has made the West African country’s aviation sector to

grow tremendously.

On fares disparity, he said Ghana offers travellers considerably cheaper fares than what is obtainable in Nigeria, adding that the difference, which is as high as 50 per cent would encourage anybody from Nigeria wishing to travel to London, United States and the Middle East to go through Accra.

The source corroborated Ngooka, saying foreign airlines’ tickets cost so much because of the elimination of promotional fares and other incentives, which were hitherto given to travellers.

Foreign airlines to Nigeria are already losing patronage, as many travellers are beginning to cut the frequency of their trips, while others are taking the Accra option, which helps them to save about 50 per cent of their tickets costs.

Some of the airlines’ booking and payment platforms, particularly that of Delta Airlines and United Airlines remain inaccessible for close to one month, as intending passengers could only pay directly in the airlines’ offices with

dollars or pay outside the shores of Nigeria.

A frequent traveller who simply gave his name as Ade Joseph described his frustration thus: “I have been trying to book online for a Lagos-US economy class return ticket through Delta Airline for the past one week, but their website does not accept payment, meaning that one can only pay in their offices. When I got to their office, I was told categorically that I should pay $2,000 cash or pay from outside the shores of Nigeria.”

Joseph said he had to contact a friend in Accra who helped him to do his booking, which costs just $1,000 compared to $2,000 he was asked to pay in Nigeria.

He stated that immediately the booking was confirmed, he directed his friend to help him offset the bill, as he plans to travel to New York via the Kotoka International Airport, Accra.

Country Commercial Manager of British Airways, Mr. Kola Olayinka, has consistently maintained that prices are de-

termined by market forces of demand and supply and not by legislation.

He said: “Prices are determined by the forces of demand and supply; let more airlines come in.

Let more airlines fly into Nigeria many more times.

Our skies are closed. Open up the skies and let more airlines come in.”

He stated that British Airways’ position on this issue has not changed.

Olayinka stated that the disparity in fares between passengers going to London from Accra, Ghana and those travelling from Lagos to London is now minimal.

Olayinka said since market forces determine the prices of goods and services, British Airways places the interest and satisfaction of its customers first. “That is why its fares are competitive,” he said.

Besides, he said the operating environment must be taken into consideration when discussing fare disparity. Other factors such as market size demand for premium and economy tickets must also be considered, he explained.

6

NEWS | national

monday, may 9, 2016 NEW TELEGRAPH

N93bn debts: DISCOs declare war on MDAs, others

Adeola Yusuff

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lectricity distribution companies in the country are poised for a showdown with their historic debtors, who face the possibility of mass disconnection of electricity supply in the days ahead.

Barr. Sunday Oduntan, Executive Director, Association of Nigerian Electricity Distributors, ANED, disclosed this in Lagos.

11%

The percentage of the population of men above 60 years of DPR Korea in 2012.

Source: Un.org

The electricity distribution companies have, for months, been groaning under severe liquidity constraints because of unpaid utility bills, from residential customers to commercial, industrial and particularly, from the Ministries, Departments and Agencies (MDA) across the three tiers of government.

Military and security agencies are similarly guilty of huge indebtedness to the distribution companies.

Oduntan noted that, as of the end of April, the total indebtedness of MDAs, military and security agencies inclusive, stood at approximately N93billion made up of N39.1billion pre-privati-

sation and N39.5billion post-privatisation as well as outstanding interest of N15billion, which the Bulk trader charges Discos for late payment of their Energy bills arising from nonsettlement of utility bills.

A breakdown of this huge sum is as follows: Abuja DISCO - N18.6 billion; Eko DISCO - N8.6 billion; Kaduna - N8.2 billion; Enugu - N7.2 billion; Ibadan - N6.8 billion; Ikeja - N5.9 billion; Port Harcourt - N6.8 billion; Benin - N5.8 billion; Jos-N6.5 billion; Yola - N2.4 billion; and Kano - N1.2 billion.

To fully appreciate the impact of the non-payment of utility bills by the government agencies,

it would be recalled that last October, the Distribution companies, together with National Electricity Regulatory Agency, NERC, the Nigerian Bulk electricity Trader (NBET) and electricity generating firms met with the Vice President, Professor Yemi Osinbajo and a modality for settlement of outstanding receivables from the government agencies was worked out. Wherein, the government was to work on the arrangement of deducting the outstanding receivables for utility bills of approximately N71.6 billion, from source. And based on this agreement, the regulator, NERC deducted the outstanding

T

New treatment procedure raises hope on cancer cure

I

n an effort to stop cancer, scientists have uncovered that beating the disease could lie in the ability to cut off vital nutritional supply lines that fuel the condition and allow it to grow.

The findings are published in the Journal of Biological Chemistry.

The researchers identified a key supply route that diseased cells manipulate, to obtain nutrients.

According to a report in the mailonline, the discovery could herald new treatments that act to stop the

growth of tumours.

It is estimated that about two million cancer cases are reported in Nigeria with over 100,000 new cases recorded annually.

Available statistics show that cancer killed 7.6 million persons in 2008 worldwide, and there is indication that the figure could double to 13 million by 2030.

According to the World Health Organisation (WHO), cancer accounts for 13 per cent of all deaths registered globally and 70 per cent of that figure occurs in middle and low income countries.

In Nigeria, about 10,000 cancer deaths are recorded

Army clears 7 villages occupied by insurgents

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he Nigerian Army says it has cleared seven more villages taken by suspected Boko Haram insurgents in Borno in its bid to end terrorism in the North East.

Col. Sani Usman, the Acting Director, Army Public Relations, stated this in a statement issued in Maiduguri yesterday.

“As the ongoing clearance and rescue operations gained momentum, troops of 28 Task Force Brigade have successfully cleared enclaves of Boko Haram terrorists

sion of the DISCOs to publish an advertorial, giving its historic debtors ultimatum within which to pay up or face imminent mass disconnection of electricity.

Sources close to the DISCOs said they are determined to carry out the threat unless the authorities concerned resolve the issue.

Some of the DISCOS have started publishing the names of their historical debtors. Benin Disco has started this in the past two weeks.

Oduntan stated last Friday that his association (ANED) is still working with the office of the Vice President to resolve the issue in the interest of all stakeholders.

FG lauds Akwa Ibom on specialist hospital

L-R: Executive Director, Stakeholder Management and Corporate Communication, Dangote Group, Mr. Ahmed Mansur; Executive Director, Strategy, Capital Projects & Portfolio Development, Chief D.V.G. Edwin and President, Afrieximbank, Dr. Benedict Oramah, during a facilities visit to Dangote Refinery, Lekki Lagos and Dangote Cement Plant in Ibese, Ogun State.. at the weekend.

Appolonia Adeyemi

receivables of the government from the collection loss component of the sculpted tariff. As such, the revenue shortfall, which the entire industry values chain is suffering from, has been exacerbated by the government not honouring its obligations to the electricity industry.

Cash strapped and further squeezed of working capital by the resistance that greeted the new power tariff structure, the distribution companies’ predicament has been made more precarious by the refusal of these historic debtors, particularly the MDAs to pay for power consumed.

This, according to a source, informed the deci-

along Galtha Baba, Galtha Musa, Bulakurma, Shatimari, Chukruk, Bulangaje, and Disa villages.

“During the operation, one Boko Haram terrorist was captured alive,'' Usman said.

According to him, three motorcycles, bags of grains, terrorists’ flags and uniforms have also been recovered.

He listed other items recovered to include: suicide bomber’s hijab, a cell phone and one Dane gun, as well as foodstuffs and cooking utensils.''

annually while 100,000 new cases are recorded yearly.

To arrive at their findings, which showed that cutting off vital nutritional supply lines could tackle cancer, a team from The Australian National University, blocked gateways through which the cancer cell was obtaining the amino acid glutamine.

They found the cells almost completely stopped growing.

Professor Stefan Bröer, who led the study, said: 'This is likely to work in a wide range of cancers, because it is a very common mechanism in cancer cells.'

“Better still, this should lead to chemotherapy with much less serious sideeffects, as normal cells do not use glutamine as a building material.

“Crucial white blood cells, which current treatments damage, could be spared, and it could cut out the hair loss that chemotherapy causes.

There are 917 different types of cancer currently identified, and many cures work only for a single type of the disease.

Futher more, many treatments are rendered ineffective as cancers develop resistance to chemotherapy.

Ambode named Enterprise and Investment Council VP Muritala Ayinla

C

ommonwealth Enterprise and Investment Council (CWEIC) has appointed the Lagos State Governor, Mr. Akinwunmi Ambode, as its Vice President.

CWEIC, an interest group established to promote trade and investment by facilitating engagement between Government and the private sector throughout the Commonwealth, also said that Ambode would be in

office alongside Rt. Hon Jeffrey Mountevans, the Lord Mayor of the City of London as co-Vice President of the Council for the next one year, subject to renewal for another year.

Speaking during a meeting with a group of Nigerian businessmen at the Lagos House in Alausa, Ikeja, the Chief Executive Officer of CWEIC, Oliver Everett, who stated that said the appointment of Ambode was a major pointer to the fact that Nigeria and indeed Lagos was open for real and serious investment.

he Federal Government has praised the Akwa Ibom State government over its decision to construct a World Class Specialist Hospital in the state. The hospital was constructed by the Senate Minority Leader and immediate past Governor of the state, Chief Godswill Akpabio during his tenure.

The gover nment stressed that with the facilities at the Ibom Specialist Hospital, medical tourism would become a thing of the past.

It also promised that the government at the centre will partner with the Akwa Ibom State Government on the operation of the hospital.

The Minister of Health, Prof. Isaac Adewole, disclosed this in Uyo, while inspecting facilities at the

Akwa Ibom State government’s owned Ibom Specialist Hospital.

Adewole noted that "with the facilities at Ibom Specialist Hospital, medical tourism abroad can be reversed".

According to the former vice chancellor of the University of Ibadan, “visiting the hospital complex today is an eye opener and as far as I know, there is no such complex like this anywhere in Nigeria."

He declared that "with the proposed partnership, no Nigerian would be allowed to go abroad for treatment on government sponsorship from Jan. 2017".

“We will partner to make sure that it works and reverses medical tourism."

Nigerians lampoon APC for budget assent noise Johnchuks Onuanyim Abuja

T

he applause expressed by the All Progressives Congress, APC, over the signing of the budget into law by President Muhammadu Buhari last week has been a criticized by some Nigerians. According to them, APC was insensitive to Nigerians’ plight.

APC had on Friday applauded the Buhari and the leadership of the National Assembly for signing the Appropriation Bill into law.

Speaking to New Telegraph in Abuja on Saturday, some persons expressed concerns that the national leadership of the ruling APC could not intervene and resolve the controversies that existed in the budget between the legislature and the execu-

tive but to turn around to applaud them after many months of inflicting pains on Nigerians.

They opined that there was no synergy between the party and its members who are position of government, as the party leaders could not intervene on the budget impasse but to turn around to hail the signing of the budget into law.

Also, they viewed the inability of the national leadership of the party to resolve the crisis between its members in the National Assembly and some other states as a mark of weakness of the leadership.

They cited such states that is controlled by APC with political crisis to include, Edo, Kogi and Kano.

For them, "APC is like a father who cannot call his children to order".

national | news

monday, may 9, 2016 NEW TELEGRAPH

Dogara to engage 161 students today Philip Nyam Abuja

S

peaker of the House of Representatives, Hon Yakubu Dogara, will today meet with 161 students from all 141 public and private universities across the country for an interactive session.

The event, which will be done over a two day period, is in fulfilment of the speaker’s promise to promote youth inclusion in governance and encourage their active participation in democracy.

The dialogue is also aimed at exposing stereotypes that have constantly pitched the people against the National Assembly due to general misconception and misunderstanding of the legislature as a result of prolonged military rule in Nigeria.

The Citizen Engagement and Youth Development programme, a sole initiative of the speaker, will be a regular interactive forum with Nigerian University students, and is part of the fulfilment of the 8th House of Representatives’ Legislative Agenda.

A statement from the Special Adviser on Media and Public Affairs to the speaker, Turaki Hassan, said “this strategic move by the speaker will, in no small way, promote active youth inclusiveness in democracy.

Nigerians lament long process of replacing lost passports Johnchuks Onuanyim Abuja

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igerians seeking for the replacement of their lost Inter national Passports or replacement based on change of name have lamented the strenuous processes they face in doing this.

They are alleging that they spend about N100, 000 in most cases to replace their passports as they have to travel down to the Nigeria Immigration Service, NIS Headquarters in Abuja to obtain a fresh passport.

According to one Nkechi, who was at the Headquarters of the Immigration Service last week to replace her passport for

change of name due to marriage, she had spent one week in Abuja in a hotel waiting to have her passport replaced.

She explained that she came in from Port Harcourt to replace her passport because of marriage and she had been staying in the hotel.

Nkechi is one among the numerous applicants who travelled to Abuja in order to replace their passports But the Immigration Service has come in defence of the policy that all lost passport or replacement of passport based on change of name must be done in Abuja at the Headquarters of the Service.

According to the spokesperson of the Ser-

vice, Deputy Comptroller immigration, Mr. Kings Ekpedeme, the policy is to avoid multi-issuance of passport to individuals.

Ekpedeme explained that biometric information of passport applicants are stored in the database in the headquarters; therefore, they would be expected to replace their lost passports at the headquarters.

Also, he explained that such stringent conditions would make people to be careful with their passports.

Explaining the policy, Ekpedeme said, "The application for the e-passport and the biometrics are stored in the data base. E-passport has so much ambiguity. The need to replace lost pass-

National Chairman, All Progressives Congress (APC), Chief John Odigie-Oyegun (left), receiving an achievement award from the President of Saint Patrick’s College (SPC), Asaba, Old Boys Association (Abuja Branch), Ogbuefi Tony Anyameluhor at a dinner held in honour of the APC National Chairman in Abuja …at the weekend.

port at the headquarters is to protect the integrity of the international passport. It will also help to know how you handle your passport", But another senior Immigration Officer, who preferred anonymity, stated that the policy was not based on any law of the Service.

Asked to react to the need for applicants to come to Abuja to replace a lost passport, the officer said, "The issue of passport applicants coming to Abuja for change of name

ABUJA

A

s President Muhammadu Buhari braces up for the implementation of the 2016 Appropriation Act which was signed into law last Friday, economists and financial experts have canvassed for a robust framework for monitoring the implementation of the budget Renowned economist and former Deputy Governor of the Central Bank of Nigeria ( CBN), Dr. Obadiah Mailafia, observed that Nigeria's previous budget had been less successful due to poor monitoring and implementation.

The financial analyst was of the view that having crossed the first hurdle with the signing of the budget, the executive arm of the government must be prepared to scale the next and even more important hurdle, which is the implementation of the budget. " Many of our past budgets have been less than optimally successful due to poor monitoring and implementation. We need

a more robust framework for implementation. There are software available for tracking progress in public expenditures, so that stakeholders can monitor progress. The Presidency also require a Strategy Office to drive budget and strategy implementation", noted Obadiah.

Similarly, a former Director- General of Bureau of Public Procurement and Special Adviser on procurement and Due process to former President Olusegun Obasanjo, Prof. Kunle Ade Wahab, enjoined every Nigerian to be interested in the monitoring of the 2016 budget. " Now that everybody has got hold of the budget, there is nothing left. The President has promised that he was going to personally get involved in the implementation exercise.

Once the president makes his point of view known, the Ministers , the Special Advisers and all the people who want the success of this administration will just have to abide by it.

The task now is between the Ministry of Budget and National Planning and of course, the Bureau

of Public Procurement because where or budget failed mostly was from the failure to monitor .

"You set a target, everybody said they are looking for the blue print of government. Now, you got the blue print . The next step look at it, those who cannot follow , have other people to interpret for them, but the message is clear .

All the special projects the government has in mind, they all are all beneficiary of this budget. We all, including the media, must all be seen putting our searchlight to ensure the

monitoring of the implementation of the budget.

We must ask questions.

Fortunately, all the ministers have said they will be willing to answer any queries. Even members of the National Assembly have said they will abide by what is in the budget," Wahab said.

In another reaction, National Chairman of United Progressives Party (UPP) Chief Chekwas Okorie, has said that the 2016 budget signed last Friday by President Muhammadu Buhari would activate growth of the country.

Access Bank hosts Innovation Challenge

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ccess Bank Plc has hosted an innovation challenge where several ideas were pitched by participants with a view to finding solutions to problems in agriculture, transportation, security and power in Nigeria.

The Access Bank Innovation Challenge is a competition that invites teams of contestants to develop innovative solutions to Nigerian societal, infrastructural and environmental challenges, and provides them with edu-

cational guidance along the path to prototyping and possibly implementing their projects.

The 2016 Access Bank Innovation Challenge focused on the Internet of Things (IoT), which connects billions of smart devices to the Internet.

Cities all over the world have developed data-driven IoT systems that have enhanced infrastructure and security, decreased traffic congestions and improved public transportation.

and lost passport, is not done by any law; "It is not done by any gazette of government. It is just the whims and caprices of some powerful people in the Service.

"You can compare it also to an obnoxious administrative practice of may be a male chauvinist that no woman can collect the International Passport without the consent of the husband, when the constitution made it clear that nobody should be discriminated against for whatever reason".

Insurgency: 500,000 households to receive N17, 000 each

A

lhaji Ahmed Satomi, the Chairman of Borno State Emergency Agency (SEMA), says no fewer than 500,000 households would receive N17, 000 each from the World Food Programme in 2016.

Satomi, who disclosed this in an interview with the News Agency of Nigeria (NAN) yesterday in Maiduguri, said 35, 000 households had so far benefited.

The chairman said that the agency planned to reach out to 1.4 million Internally Displaced Persons (IDPs) taking refuge in other communities. ``We are targeting the most vulnerable couples, widows and those who

Budget: Experts want monitoring of implementation Isa Abdulwahab and Yekeen Nurudeen

7

46%

The percentage of the population of Dem. People’s Republic of Korea under 15 years in 2012.

Source: Un.org

have passed through great hardship as a result of the insurgency. ``Apart from our IDPs in the 28 camps, we also have about a million of them taking refuge in host communities of Jere and Maiduguri Metropolitan Council. ``The token would be given to them to encourage them to start up something that would enable them cater for their families to alleviate their suffering. ``We will go to each and every of these households to obtain their bio-metric data and head count. ``We will also try to see how we can empower them on basic skills acquisition as well as entrepreneurship which will go a long way in assisting the beneficiaries. ``So far, we have started with Gwange one, two and three, Meri and Shettimari areas in the state capital," Satomi said.

Aides reject Melaye’s brother as NASSLAF chair Chukwu David Abuja

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nother phase of crisis has again, hit the National Assembly, with the legislative aides forum of the institution now facing serious turmoil over who should be its authentic leader.

Following lingering controversy over the leadership of the National Assembly Legislative Aides Forum (NASSLAF), some members of the association have rejected the process, which led to the emergence of Sam Melaye as Chairman of the forum.

New Telegraph learnt that Sam Melaye, the younger brother of Senator Dino Melaye, had without any formal election, started parading himself as the Chairman

of the forum, despite recent protests by members of the group.

It was also learnt that Melaye was enjoying the backing of the top echelon of the National Assembly bureaucracy and the leadership of the two legislative chambers of the apex Assembly.

But NASSLAF, in a statement signed by its Public Relations Officer, Yusuf Sikiru Bamidele, and issued yesterday in Abuja, said that the forum did not recognize Melaye and his factional group.

The association, while accusing a section of the National Assembly management led by one C.J. Osman, a secretary with corporate services, of imposing Sam Melaye on NASSLAF as Chairman, stated that the forum elected its officials in accordance with the provisions of the constitution.

8

MONDAY, MAY 9, 2016 NEW TELEGRAPH

METRO

ABIODUN BELLO abiodun.bello@newtelegraphonline.com 08023938212

...CRIME, CITY WATCH, COURTS

Railway officials, passengers die in train crash lIt’s unfortunate, say Saraki, Ahmed Biodun Oyeleye Ilorin

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hree persons, two officials of the Nigerian Railway Corporation (NRC) and two passengers, lost their lives at the weekend when a cargo train from Ibadan to Kano lost control and crashed.

The accident occurred at Jebba, a few metres after the main entrance of Jebba Paper Mill. There was also a second crash a few metres to the River Niger Bridge at Jebba but there was no casualty recorded from that episode.

Officials of the corporation told our correspondent that the two NRC officials were a male guard and a female employee identified simply as Janet.

The remains of Janet were packed into body bag by a combined team of medical personnel, police, and officials of the Federal Road Safety Commission (FRSC) about 3.40pm yesterday.

It was learnt that the head and the leg of another victim had earlier been retrieved from the crash scene.

A huge crane from the NRC was deployed to the scene to lift the three coaches which crashed.

The operation was still ongoing at press time.

Officials of the corporation, at the scene, refused to make official comments because they were not authorised to speak with the press.

It was also learnt that the Permanent Secretary in the Ministry of Transport was on the way to the site but was yet to arrive at the time of filing this report.

The second crash created a huge pile of trailers stranded on the ever-busy Ilorin-Jebba Road.

The gridlock stretched for about 12 kilometres, leaving road users stranded.

The NRC Assistant Director in charge of Publicity in the corporation, Mr. Rauf Akinloye, said yesterday that four people died in the accident.

He told journalists that three other passengers sustained injuries.

Akinloye said the victims’ bodies were deposited at the mortuary while those injured were discharged after receiving treatment.

The spokesman added the damaged tracks were being repaired in order to restore North-

The scene of the accident

South services.

He said the rear portion of the train that derailed led to the death of the four persons.

Akinloye, however, assured travellers of safety of lives and property while travelling on the trains despite the incident.

Meanwhile, Kwara State Governor, Abdulfatah Ahmed, has commiserated with the families

of those who died in the rail accident at Jebba in Moro Local Government Area.

Ahmed, according to a statement issued by his Chief Press Secretary (CPS), Abdulwahab Oba, also wished the passengers who sustained injuries as a result of the accident speedy recovery.

The governor described the accident as painful and unfortunate

because “rail transportation is one of the safest modes of travel”.

Ahmed, therefore, called on the NRC management to investigate the immediate and remote causes of the accident with a view to preventing a reoccurrence.

Also, Senate President, Bukola Saraki, has expressed sadness over the train crash and com-

miserated with families of the deceased.

Saraki also expressed sympathy with those who sustained injuries and prayed God to heal their wounds.

He also urged the NRC management to investigate the cause of the accident and immediately put in place a measure to prevent recurrence.

My lover gave me money for weapon, says suspect Sola Adeyemo Ibadan

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suspected armed robber, Taofeek Lamidi, has told the police in Oyo State how he attacked a female trader with a machete and robbed her of N23,500.

Lamidi of Ile Epo, Isale Oyo in Oyo town, who was earlier convicted for rape, was released from prison on February 1. But about three months later, he became a guest of the police along with 18 others linked to various criminal offences.

The state Police Commissioner, Mr Leye Oyebade, told journalists that on April 12 Lamidi accosted a woman, Fasilat Asimiyu, in Oyo town and proposed to befriend her in order to advance his criminal intent through her.

The suspect, while speaking with our correspondent, corroborated the commissioner’s statement when he said that he met the woman and proposed to her.

According to him, the woman said she was living at Jamoosan Compound around Kanga area

of Oyo town, but would not want him to visit her there.

The 41-year-old suspect said he was pushed to the idea of befriending Fasilat because his wife had died before he returned from prison and there was no one to take care of his children.

He said: “When I met this woman and proposed friendship to her, she said I could not come to her place at Kanga, but that she would be going to the Omooba Market at Iwo town the following day. She said I could

Lamidi and Fasilat

come and meet her there.

“On April 23, I went to Omooba Market on a friend’s motorcycle and met her sitting down while selling kerosene and black market petrol. I told her again that I wanted her to be my woman-friend and she agreed, but said that she needed money to boost her trade.

“I told her I didn’t have money either, but that if I could see any of the traders who had money, I could snatch it for the benefit of both of us. I told her, however, that I didn’t have any weapon to use, and she suggested a small machete.

When I said that I didn’t have money to buy one, she offered me N1,000 to buy it.

“A few days later, I borrowed the motorcycle of a friend of

mine and went to Omooba Market. I was there around 7:30am and this woman welcomed me and I sat close to her at her shop till about 10am, trying to identify any trader who would have sold and made money to be transported back to Oyo.” Though, Fasilat denied having any such agreement with Lamidi.

She said: “I only discussed with him that he was wasting his time staying so long when petrol was very scarce and that he could be making cool money in Oyo if he had stayed there plying his business.”

But the suspect insisted that the woman was the one who eventually got a female trader for him while another one joined and they set off on the motorcycle, popularly called “Okada”.

He added: “On our way, I stopped at a point and brought out the machete I had bought from the N1,000 this woman gave me. I told the trader Fasilat got for me that it was her money that I wanted to collect, but she started arguing with me. So, I attacked her with the machete on her left shoulder and left thigh.”

METRO

MONDAY, MAY 9, 2016 NEW TELEGRAPH

9

Butchers stab task force officials, vandalise vehicles

Muritala Ayinla

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t was a free for all at the weekend at Idi-Araba market in Mushin when armed butchers and street urchins otherwise called “Area Boys” descended on officials of the Lagos State Task Force on Environment and Special Offences Unit.

They attacked the leader of task force team and the driver with machetes and broken bottles.

The butchers operating illegal abattoirs and the street urchins also vandalised two Toyota Hilux vans and a Black Maria belonging to the task force.

The task force officials, with the enforcement team of the Lagos State Ministry of Agriculture, had stormed the illegal abattoir and slaughter slab at Oshodi and Idi-Araba to dis-

lodge the operators.

It was learnt that the enforcement team had sealed an illegal abattoir and slabs at Oshodi and Idi-Araba when the rampaging miscreants and butchers came out en masse and started throwing dangerous weapons such as machetes, knives, stones Victor and broken bottles from different directions.

In the ensuing melee, the leader of the task force team, Supol Wilson Alaba and the driver, Mr. Adekunle Victor, were attacked with machetes.

Victor was abducted but

Security guard dies in fire Taiwo Jimoh

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28-year-old security guard identified as Suleiman Aliyu was burnt to death on Saturday in Lagos.

The incident occurred at 15, Obiwunmi Street, off Fola Agoro, Shomolu.

It was learnt that the fire, which started about 1:30pm in the guard’s quarters, was caused by petrol stored in the security house.

It was gathered that the fire spread from the security house to the 12 selfcontained apartments situated in the premises.

It took the combined efforts of the Lagos State Emergency Management Agency (LASEMA), state Fire Service and the police to contain the situation.

Confirming the incident, the General Manager LASEMA, The burnt house

Michael Akindele, said kegs of Premium Motor Spirit (PMS) were stored in the victim’s apartment which came in contact with other highly combustible items.

He disclosed that the guard’s body had been handed over to his family for proper burial following their request.

Akindele warned Lagosians to desist from the storing petroleum products and other inflammable materials in their homes.

later rescued in a pool of blood. When found, he had cuts in his head and left leg.

Government had directed the task force to clamp down on illegal abattoirs and slabs because they were not operating in line with the statutory standard as contained in the Lagos State EnvironmenThe vandalised vehicle tal Sanitation Laws.

Army arrests fake soldier, intercepts truck carrying diesel Babatope Okeowo Akure

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en of the 32 Artillery Brigade, Owena Cantonment, Akure, Ondo State have arrested a fake soldier identified as Dakio Olotu said to have been terrorising people of Agadagba community in Ese-Odo Local Government Area.

The Army Public Relations Officer (PRO), Captain Ojo Adenegan, who paraded the suspect at the weekend, said the man had been extorting money and persecuting people of the area for some months with Army uniform before his arrest.

Adenegan explained that the arrest was a sign of readiness and professional conduct of the men of the 32 Artillery Brigade in bringing perpetrators of such act to book.

He urged members of the

Fake soldier

public to report strange persons to security agents for prompt action.

The spokesman said the fake

soldier would be handed over to the police for further interrogation and possible prosecution.

Aside the arrest of Olotu, Adenegan said the troops of the 19 Battalion had arrested a truck with registration number SQ 366 AGL loaded with 33,000 litres of illegal refined diesel at Olowu Junction in Odigbo Local Government Area.

Adenegan said the truck was arrested along with the Chairman, Petrol Tankers Union, Okitipupa, Mr. Adewale Adebiyi, the owner, Mr. Adeokan Ariyo and the driver of the truck, Mr. Sunday Ojomo.

He said the truck was loaded from an uncompleted filling station at Ilemotoyin and it was intended to be dropped at Ore before it was arrested.

The truck and the suspects, he added, had been handed over to the police for prosecution.

City Briefs Hotelier, boxing promoter, Aiyegbeni, dies at 69 Sola Adeyemo Ibadan

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enowned boxing promoter, Chief Francis Aiyegbeni, who was also the owner of the popular D’Rovans Hotel situated on MKO Abiola Way, Ring Road, Ibadan, Oyo State, is dead.

Aiyegbeni (69) died at the University College Hospital (UCH).

The hotelier, who hailed from Esan in Edo State, died at the Intensive Care Unit (ICU) of the UCH on Saturday. He was reported to have

died of stroke and cardiacrelated issues.

An impeccable source at D’Rovans, now Wallan Hotel, confirmed that Aiyegbeni, who played important roles to uplift the Nigeria Boxing Board of Control (NBB of C), died on Saturday morning.

He was reported to have suffered from a protracted battle with partial stroke, and was rushed to the Police Hospital at Eleyele, Ibadan on Friday when his condition deteriorated. He was later transferred to UCH from the Police Hospital.

“On getting to UCH, he was immediately taken into

30-year-old man murdered Uchenna Inya ABAKALIKI

P The late Aiyegbeni

the Intensive Care Unit of the hospital. He was being treated for cardiac-related issues at UCH when he stopped breathing,” the source said.

olice in Ebonyi State have commenced investigation into the death of a 30-year-old man, Uduma Nwangele, at Egwudinagu village in Ohaukwu Local Government Area of the state.

Nwangele was found on the road with machete cuts all over his body.

The state Police Public Relations Officer (PPRO), ASP George Okafor, confirmed this yesterday.

He said: “On April 30 about 10pm, Chukwuma Nwangele of Egwudinagu village in Ohaukwu Local Government reported that on the same day

his brother, Uduma Nwangele (30), in the same Egwudinagu, was seen lying on the ground with machete cuts all over his body.

“He said that before his death, he mentioned (some people as) his assailants. The scene of crime has been visited, the corpse photographed and then removed to the mortuary for autopsy.

“Investigation is ongoing and the suspects after committing the offence took to their heels. It is left for us to arrest these persons to determine if they actually have hand in the killing or not.

“We will not just believe that it was them that killed the deceased because it is now second hand information.”

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NEWS

MONDAY, MAY 9, 2016 NEW TELEGRAPH

NCC tells telcos to create do-not-disturb platforms Kunle Azeez

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he Nigerian Communications Commission (NCC) is prepared to tackle annual losses by telecoms subscribers due to rising wave of unsolicited short messaging service (SMS).

New Telegraph learnt that the over 150 million telecoms subscribers in the country currently lose an estimated N360 billion to cases of unwanted text messages majority of which are auto-subscriptions by the operators without subscribers’ consent.

The situation is worsened as telecoms networks often use some clever ways of making it difficult for disgruntled

subscribers to opt out from continuously receiving the unsolicited text messages.

However, the Commission in a direction dated April 19, 2016, a copy of which was obtained by New Telegraph at the weekend, has mandated 13 telecoms operators to create a DND facility and popularise same with a view to giving the subscribers the latitude to stop receiving an telemarketing calls or unsolicited text messages.

A total number of thirteen (13) MNOs were issued with the direction, namely: Starcomms, Megatech Engineering Limited, Gicell Wireless Limited, Globacom, Danjay Telecoms, Gamjitel, Multilinks, MTN, Airtel,

Smile, Etisalat, Visafone and Natcom.

The NCC, in the direction issued pursuant to section 53 of the Nigerian communications Act (NCA), 2003, noted that it had been inundated with complaints from subscribers about the menace of unsolicited text messages and calls from Mobile Network Operators (MNOs) which has impacted negatively on consumer quality experience in the telecom industry.

Already, telecoms licensees are mandated by the Consumer Code of Practice Regulations, 2007 to conduct telemarketing in accordance with any ‘‘call” or ‘‘do not call” (DND) preferences recorded by the consumer at the time of entering

into a contract for services or after.

“The Commission, through its monitoring activities, confirmed that though, some MNOs have set up the DND facility on their network, the awareness by subscribers of the availability of the DND facility on the MNOs network and how to opt into the facility was very minimal and unsatisfactory.

“The Commission, in line with its regulatory functions of protecting the interest of consumers as provided in Sections 4(1)(b) and 105(1) of the NCA, 2003 and ensuring the development of the Nigerian Communications industry was of the opinion that degradation of consumer quality

L-R: Vice President, Association of Assets Custodians of Nigeria (AACN), Akeem Oyewale; President, Taiwo Sonola; and General Secretary, during a briefing to announce the 5th Annual Investor Conference of AACN holding in London, in Lagos

Enugu

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eaders of the Peoples Democratic Party (PDP), including three governors elected on the party's platform in the south-east geopolitical zone met in Enugu for second time in one week yesterday.

The leaders rose from a closed-door meeting with a resolve to fashion out a more sustainable and enduring strategy aimed at permanently checkmating the increasing spate of invasion of communities by suspected Fulani Herdsmen in the zone.

Like the previous meeting, yesterday’s meeting was attended by the Deputy Senate President, Ike Ekweremadu, as well as Governors Ifeanyi Ugwuanyi of Enugu State; Dave Umahi of Ebonyi State and Okezie Ikpeazu of Abia state.

It also had in attendance the former governors of Anambra and Imo states, Peter Obi and Ikedi Ohakim.

However, Governor

NCA, 2003, the NCC directed operators to take certain steps as parts of regulatory measures to tackle the menace of unsolicited text messages.

Airspace violation: NCAA to sanction illegal drone operators Wole Shadare

T

he Nigerian Civil Aviation Authority (NCAA) has warned over growing proliferation of the use of Remotely Piloted Aircraft (RPA).

The aviation regulatory body has, however, issued safety guidelines over the use of the equipment in the airspace without permission.

Spokesman for NCAA, Sam Adurogboye, in a statement yesterday, said in recent times, RPA/UAV (Unmanned Aerial Vehicles) are being deployed for commercial and recreational purposes in the country without adequate security clearance.

He noted that with the preponderance of these

operations particularly in a non – segregated airspace, there has to be proactive safety guidelines.

The authority further stated that the development of the use of RPA nationwide has emerged with somewhat predictable safety concerns and security threats.

The International Civil Aviation Organisation (ICAO) is yet to publish Standards and Recommended Practices (SARPs), as far as certification and operation of civil use of RPA is concerned.

He noted that the NCAA has therefore put in place Regulations/Advisory Circular to guide the certification and operations of civil RPA in the Nigerian airspace.

Group laments education policies

A

S/East PDP governors, leaders meet on security Kenneth Ofoma and Charles Onyekwere

experience through unsolicited telemarketing should be curtailed,” the direction noted.

Consequently, pursuant to section 53 of the

Rochas Okorocha of Imo State and his Anambra State counterpart, Willy Obiano were conspicuously absent.

Some former governors of PDP stock including Chief Martin Elechi, (Ebonyi), Sullivan Chime (Enugu) and Senator Theodore Orji of Abia, who were said to have been invited to the meeting were also absent.

No reason was given for their inability to attend.

But, addressing journalists at the end of

the two-hour meeting, Ekweremadu said the meeting appraised developments in the last herdsmen attack in Enugu and resolved to find ways of ensuring that such attack did not take place either in Enugu or any other place in the south-east zone again.

"We intend to put in place endurable measures so that such attack will not happen again," Ekweremadu noted while disclosing that the meeting expressed satisfaction

with Ugwuanyi over the courageous way he handled the Ukpabi Nimbo attack which claimed scores of lives.

"The governor of Enugu State briefed the meeting on the steps he has so far taken on that issue. He also told us that most of the people who fled the community in the wake of the attack have started returning and that normalcy has been restored in the area. We are very satisfied with the briefing, "he said.

Dunoma charges airport workers on safety Wole Shadare

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orkers of the Federal Airports Authority of Nigeria (FAAN) have been asked to adhere strictly to safety standards and procedure in line with Standard and Recommended Practices, recommended by the international Civil Aviation Organisation (ICAO).

The Managing Director of FAAN, Saleh Dunoma, gave the charge while addressing staff of the department of Aero-

drome Rescue and Fire Fighting Services at the Kaduna Airport recently.

He encouraged them to put into practice, knowledge acquired at the recent training conducted by the authority in order to justify the huge investments by the Authority to enhance service delivery at airport.

The Managing Director, who was received by the acting Airport Manager, Amina Salami, further charged staff to imbibe the habit of maintenance culture so

as to derive maximum benefits from heavy duty vehicles and equipment.

While conducting the boss and his team around, Mr Nuru Jatau of the department of Aerodrome Rescue and Fire Fighting Services (ARFFS) enumerated some of their challenges and assured him of their commitment and dedication to duty.

The Managing Director also inspected the ongoing construction work at the new airport terminal.

non-governmental organisation, Concerned Citizens for Educational Development (CCED), has decried some of the recent actions and policies of the Minister of Education, Mallam Adamu Adamu, which it claimed was impacting very negatively in the education sector.

The group expressed worries that unless urgent steps were taken to reverse these ugly trends, the nation's educational sector would be heading for implosion.

In a letter to the minister dated April 26, 2016 and signed by the group's National Convener, Comrade Solomon Adodo, CCED expressed concerns that in the short

spell of time since the former vice-chancellors of the 13 federal universities were wrongfully sacked by the minister, several of the succeeding vice-chancellors have unfortunately borrowed a leaf from that wrongful action and have continued to flout the relevant universities rules by sidelining the universities governing councils in most academic appointments.

The unfortunate implications of this, according to the group, was that merit is unwittingly being replaced by mediocrity, while ineptitude and intimidation prevails, even as academic excellence and scholarship continues to take the back seat in institutions of higher learning.

DHQ: Disregard 'inciting' videos, posts Emmanuel Onani Abuja

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he Defence Headquarters (DHQ) yesterday, advised the public to disregard what it referred to as inciting pictures, videos and statements being posted on some social media platforms.

It said the videos, which it confirmed to be "photoshops", were meant to cause disaffection among ethnic nationalities in the country.

Consequently, it warned that the military would not tolerate acts that are capable of igniting the breakdown of law and order.

The DHQ, in a statement by its spokesman, BrigGen. Rabe Abubakar, said: "The Defence Headquarters (DHQ) hereby warns that it will not condone any unwholesome acts by persons or group seeking to engage in acts that are capable of causing breaking down of law and order in any part of the country.

"Citizens are advised to refrain from taking laws into their hands and avoid actions that may cause a breach to harmonious co-existence. Individuals or groups seeking for relevance should follow the due process in accordance with the law of our land and not through acts of brigandary."

11

MONDAY, MAY 9, 2016 NEW TELEGRAPH

Leadership S’West and the elusive PDP chairmanship

Politics

PDP convention The jostle for NWC offices

14 15

Unending S'West PDP battle

The Peoples Democratic Party (PDP) in the South-West is not new to crisis, given its history of internal squabble and uncoordinated approach in the pursuit of common goals. These impediments have rocked the zone’s chances of producing the next national chairman of the former ruling party.

FELIX NWANERI reports

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

© Daily Telegraph Publishing Company Limited

I

t is peace of the grave yard in the South-West chapter of the Peoples Democratic Party (PDP) despite last week’s separate meetings of the two major factions of the party in the zone, where the zoning formula for the national offices of the opposition party was adopted.

The two separate meetings were held in Akure, Ondo State capital and Ijebu-Igbo, Ogun State at the instances of the leaders of the factions, Governor Olusegun Mimiko and Senator Buruji Kashamu. Both summits were aimed at resolving issues over zoning of PDP national offices as they affect the South-West geopolitical zone ahead of the party’s May 21 national convention.

The two factions have been up against each other since the race for PDP’s national offices, particularly, national chairman, commenced. While the Kashamuled group is disposed to the position going to the North, the other group, which has Mimiko and the likes of former Deputy National Chairman of the party, Chief Olabode George, insisted that the South-West should have the seat.

The Kashamu group had called for the retention of the PDP national chairmanship position in

The two factions have been up against each other since the race for PDP’s national offices... commenced

the North at a time their kinsmen in the former ruling party were insisting that their zone should have the slot, given the fact that it has not occupied the position since PDP’s formation in 1998.

Kashamu, who represents Ogun East in the Senate, had while on courtesy visit with members of his group to the Acting National Chairman of the PDP, Senator Ali Modu Sheriff on March 21, said the position of national chairman should not be zoned to the South.

His argument was that PDP would be branded a regional party if the chairmanship goes to the South. “Out of the five states in the South-East, the PDP has three governors; we have five governors out of the six states in the South- South; in the SouthWest, we have two governors. In the whole of the North, we have only two governors. We need to strengthen the North, if not, the PDP will be branded as a regional party if we go ahead to pick the national chairman from the South,” he said.

But George, who apparently had his eyes on the position, faulted the position, describing Kashamu and members of his group as political upstarts,

who do not know the history of the party. He also insisted that the stand was disgraceful to the South-West.

His words: “PDP is about justice, fairness and equity. Of all the zones in Nigeria, it is only the South-West that has not produced the chairman of the party since 1999. What we have now are overnight leaders. Who did they consult before such a move?

When we were running around in 1998, 1999, 2000, 2003 and even 2007, when PDP was untouchable in the South-West where were they? We built the party such that we swept the South-West in 2003, where were they then? If there was no yesterday, there won’t be today and tomorrow. Have they checked the history of the party and the vision of the founding fathers?

“When Sheriff was coming and we had to calm nerves in Borno and North-East, where were these characters? All Sheriff wanted is to sustain his name and write it in gold, not to be deceived by upstarts. He is going to set up committees to position the party better. Has he done that? I was shell-shocked when I heard this CONTINUED ON PAGE 12

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POLITICS

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

madness of a proposition. Many of the leaders in my zone are also shocked. I know the workings of the PDP more than they do and what they are doing has no place in the party.”

Another chieftain of the PDP in the South-West and a member of the party’s BoT, Chief Ebenezer Babatope, said: “We are preparing for the convention and we are also watching the antics of these elements, who are all out to distort the party, we can’t allow miscreants to run our party for us. The South-West will talk on our agenda at the convention.”

Despite the reasons cited by George on why the South-West should produce the next national chairman of the PDP, the Governor Emmanuel Udom-led committee reasoned with the Kashamu group that the party needs to win back the confidence of the people of the North in view of the disenchantment in the region during the 2015 general elections.

To this end, the committee came up with a zoning arrangement that knocked out some South-West PDP leaders aspiration to lead the party’s incoming National Working Committee (NWC). According to the report of the committee, which was adopted by the NEC, the national chairmanship position goes to North-East, the deputy to SouthSouth while the South-West still retains the position of the national secretary.

The position of deputy national secretary, which was in the South-East, now goes to North Central, while the office of nation legal adviser has been zoned to the North-West. The deputy national legal adviser is now in the South-South.

The position of national treasurer was also zoned to the South-South, while the deputy goes to North West. The office of national financial secretary is now in the North Central while the South East will produce the deputy.

The national woman leader will now come from North-West as against South-East, while the South-South will produce the deputy. For the office of national auditor and deputy, the PDP NEC agreed that they should go to South-West and North-East, respectively.

The South-East will however produce the national organising secretary and national youth leader. The deputy national organising secretary and deputy youth leader will come from North Central and North-West, respectively. The national publicity secretary will come from the South-West, while the deputy will come from North Central.

While most PDP members across the country described the distribution of national offices as a fair deal, some party faithful in the South-West felt that the arrangement was unjust as the party failed to rotate its national chairmanship position.

Dr. Doyin Okupe, a former Senior Special Assistant, Public Communications to ex-President Goodluck Jonathan, noted that out of 11 PDP chairmen in 18 years, only the South-West has not produced one.

His words: "I want to state

MONDAY, MAY 9, 2016 NEW TELEGRAPH

PDP chairmanship: How categorically here, without any fear of equivocation, that we, the Yoruba from the South-West, desire and demand the post of the national chairman at the next convention of the party.

"In the interest of fairness, equity and justice, it is most compelling that the Yoruba of the South-West zone must be allowed to contest for this post at the coming national convention.

Any attempt to do anything to the contrary, no matter the reason advanced cannot be acceptable.

"Failure for a Yoruba man to emerge as the national chairman can only mean two things.

That there is a pervasive and concealed hatred for the South-West in the PDP or that the PDP has very little or no regard for Yoruba interest as was evinced by the obvious cheating of the South-West from the position of the Speaker in 2011, which was never rectified nor compensated for the whole of four years.

"The sad implication of the above is that, regrettably, many of us from the South-West may have to reconsider our membership of this great party, which we have helped to nurture and supported through thick and thin; a party we have loved almost more than our very existence, and the party we have served with all our natural endowment, in victory and defeat. If there exist any conscience, anywhere in this party, let that conscience speak now and stop the new and alien conscienceless power currently holding sway within the party

George

Mimiko

hierarchy."

The threat of defection not only heightened tension in the party, but raised the fear that the national convention scheduled to hold in Port Harcourt, Rivers State may be stalled. But politics being the doctrine of the possible, arrowheads of the SouthWest agitation, made a detour on Wednesday, when they opted to abide by the party’s decision, thus putting an end to the zone’s hope of producing its first chairman of Africa’s self-acclaimed biggest party.

Endorsement in Ijebu-Igbo Rising from a meeting of its expanded executive committee held in Ijebu-Igbo, a faction of the South-West PDP led Senator Kashamu, insisted on the continuation of the party's National Chairman, Senator Sheriff, beyond the May 21 national convention of the party.

The faction also backed the zoning arrangement in the party as done by the National Zoning Committee headed by Governor Udom as well as expressed support for Sheriff's doggedness to

Oyedokun: Why North should produce chairman Alhaji Shuaib Oyedokun is a former Deputy National Chairman (South) of the PDP and member of the party's Board of Trustees (BoT)

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et me first puncture the argument that is being generally held by some people that the national chairmanship position had stayed long in the North.

Since only one geo-political zone of the North does not actually constitute the entire North, facts have revealed that, it had been dominant only in the North Central.

The core North, made up of North-West and North-East, had it only by accidental discharges. It is high time we start emphasising the six constitutionally recognised zones and not the nebulous North and South dichotomy.

The most open and weakest geo-political flank of PDP now is the North-East and North-West. The gap between now and when we determine a flag bearer, is still long and wide. Why not move our ‘battle force’ to the North now, and suspend our personal interest for now as the SouthWest has offered to do, in spite of its array of competent hands.

And if the lesson of history, and that of recent events, are anything to go by, in spite of whichever camp such good lessons may emanate from, it could be pertinent here, to cite the strategic step which President Mohammad Buhari took on assumption of office, where-in he moved the entire Military command to the troubled area with the Army Chief of staff taking full charge

for effectiveness.

To those who understand that military and political warfare look favourably at timing and choice of commander, being vital essence of success, the popular choice of Senator Ali Modu Sheriff, as our national chairman, should therefore, not be a surprise but a strategy to be supported, hailed and invested in, solidly even at a time like this.

Indeed I must say here proverbially, that the true man does not seek where cheap gains always lie, but where duty lies, as such is the true man, whose dream of today, would be the law, by which tomorrow shall be governed.

Conversely, it is true that the South-West stands to gain by having the national chairmanship ticket, as we are mentally and administratively sound in leadership, but the path to duty lies in assisting, the cohesive build up, already going on, in the politically consequential North, which are ostensibly assigning value to Sheriff ’s political antecedent, and are now rallying round him, shifting from their initial opposition to his candidacy.

In spite of all of these factors, which are in favour of Sheriffs option, it is crucial here, to point it out that, the word zoning which has gained high political currency in the world of politics is not an end by itself. It is never a crutch, which is reserved for the political cripple, to lean on, in the name of merely filling some quota. It is like objectivity which does not speak to the wind.

As for those who are arguing mischievously that our decision to support the North for the national chairman could be a ploy to revert the settled position. That

Oyedokun

the presidency had already been zoned to the North, let me say here that this is far from being true.

The entire South-West, taking home the lesson of history, is supporting the zoning of presidency, to the North, because we are bent on reciprocating, earlier good gestures, which course, the North championed, when in an attempt to assuage our anger over the annulment of the election of MKO Abiola, they supported the candidature of chief Olusegun Obasanjo, as the president on the platform of the PDP. Today, it is the same scenario, because the North was also angry at the last general elections. Sometime, I do wonder how most of us, often appear unable to retain the memory of history, that here in Nigeria, there had been a time when all the top most political and Executive Offices, namely, the Presidency, President of the Senate, the PDP National Chairman, the BOT Chairmanship and the Secretary to the Government of the Federation were all concentrated in the South even though, by political accident.

POLITICS

MONDAY, MAY 9, 2016 NEW TELEGRAPH

S'West won and lost the battle

Ogundipe

Fayose

reposition and mobilise the party towards returning to power in 2019.

Party chieftains in attendance at the meeting included Kashamu; National Vice Chairman (South West), Chief Makanjuola Ogundipe; former Deputy National Chairman, Chief Shuaib Oyedokun; former Oyo State Deputy Governor, Azeem Gbolarumi; and the National Auditor, Alhaji Fatai Adeyanju.

Also present were a House of Representatives member, Adesegun Adekoya; zonal secretary,

Chief Pegba Otemolu, former Lagos PDP gubernatorial candidate, Dr. Ade Dosunmu, former PDP chairman in Ondo State, Hon. Ebenezer Alabi, Oyo State PDP chairman, Yinka Taiwo, and Dr Olu Ogunye, among others.

In a communique issued at the end of the meeting, Ogundipe said members must renew their loyalty and support for the PDP. He declared that the South-West zone cannot play the second fiddle in view of the positions already zoned to it, including National Secretary, National Auditor and

S'West deserves national chairman – Babatope Chief Ebenezer Babatope is a former Minister of Transport and member of the Board of Trustees (BoT) of the Peoples Democratic Party (PDP)

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he South-West leaders meeting that took place in Akure last week said in order for us not to disrupt the activities of the Peoples Democratic Party (PDP), we should accept the zoning as it was done by the party. And since they have agreed that there would be a mid-term election next year, we should leave everything till that time. I took part in the meeting and signed the communiqué. But I must confess to you; that I do not hold that opinion but since I have taken part in decision taken, so be it. But if anything happens, I will be very happy.

I will never leave the argument that South-West must have the national chairmanship. I will never leave that argument because since the inception of the PDP in 1998, South-West has not held the position of national chairman of the party. We are the only zone in the country that has not held the position.

National Publicity Secretary.

Justifying the support for Sheriff to continue as national chairman, Ogundipe said the PDP needed the North to return to power in 2019. He also said he was not aware of any similar meeting convened in Akure, the Ondo State capital, by some PDP leaders, stressing that he is the authorised person to call for any zonal meeting.

His words: "The issue of Ali Modu Sheriff is a forgone conclusion. We are the custodian of the constitution of this party. We said it from the onset that the best way to play this politics now is to allow the North-East to complete its term and that is two years.

"We started by saying that the North be retained in office until we have our mid-term congress; it is in our constitution. You cannot be there forever and in any case, the party today needs somebody that can re-energise it. Everyone is fighting left, right and centre and at the end of the day, it doesn't work well for the party and that is why we say everyone should come home to be wise.

"We saw reason that we don't want the party to be regional. We cannot ignore the block vote that is coming from the North. If you are a good political scientist, go and plot it and you will find out that every political party needs enough to win. After the two-year term, the zoning will come to the South West, simple."

Speaking earlier, Kashamu said he had no apology for supporting Sheriff's ambition to contest at the forthcoming national

At present, some PDP leaders are not in support of South-West producing the national chairman but all of us who are championing the course for South-West taking the position of the national chairmanship are still as solid as the rock of Gibraltar. But it is just that we do not want to denied the activities of the two South-West PDP governors, who inspired the Wednesday meeting in Akure.

We have not changed our position; we maintain and still believe that the chairmanship must come to South-West. But since we are now saying let us defer it till next year; that is what is holding us back. Some people have called meeting of PDP stakeholders in Abuja on Thursday and they are likely to ask Modu Sheriff to go.

convention of the party, declaring that he remains committed to whatever would be in the best interest of PDP. He pointed out that his position was in line with resolutions of the South-West PDP stakeholders' meeting held in Ibadan in March and the 70th NEC meeting of the party held in April.

"The NEC has also zoned the offices of the National Secretary, National Auditor and National Publicity Secretary to the South-West. We would mobilise delegates from the South-West to support the incumbent National Chairman, Senator Ali Modu Sheriff, to continue in office, if he indicates his interest in contesting for the position of the National Chairman at the party's convention in Port Harcourt," he said.

Caution in Akure While it was endorsement for PDP’s zoning formula and Sherif'f's ambition in Ijebu-Igbo, Mimiko and Ekiti State governor, Ayodele Fayose, who addressed another meeting of South-West PDP in Akure, raised the fear of a third political party that will rival both the ruling All Progressive Congress(APC) and PDP if there is no unity within the opposition party.

Leaders of the party at the meeting included Chief Olabode George, Jelili Adesiyan, Chief Makanjuola Ogundipe, Senator Iyiola Omisoore, Engr. Jide Adeniji, Mulikat Akande-Adeola, Chief Mrs. Jumoke Akinjide, Prof. Taoheed Adedoja, Alhaji Tajudeen Oladipupo, Jimi Agbaje, Senator Adeseye Ogunlewe, Chief Ebenezer Babatope, Chief CONTINUED ON PAGE 15

Sheriff has stabilised PDP – Kashamu Senator Buruji Kashamu (Ogun East) is the Chairman, South-West PDP Mobilsation and Organisation Committee

Y Babatope

13

ou should ask anyone who say I am the problem why they said so.

Rather, they are the problem.

They want to eat where they have not sown. They are used to feeding fat on the party without giving anything in return. I am an unusual politician. I give to the party and it's members instead of taking from it and it's members. That is the difference between us. And naturally, people will flock to the leader who has always given them a shoulder to lean on whether there is politics or not. I do not know where the talk of being the problem of the party in the zone is coming from.

I have only been supporting my party as much as I can. Ask our leaders what has been their contributions to the growth and sustenance of the party in the zone. They are the ones trying to impose all the national executive positions on us. If I am on the same side

There is nothing like pocketing the zonal leadership of the party. The body is made up of eminent politicians and leaders who have paid their dues and have been in politics long before I joined. So, it is not possible for anyone to pocket them. They have compared me with other leaders and elected representatives and found that I am more sincere and straightforward with them. They have seen that I am always there for them and the party. So, it is a case of one good turn deserving another and not anyone pocketing anybody.

Before those who called the Akure meeting began their meeting, the constitutionally recognized zonal leadership of the party, under the leadership of the National ViceChairman, Chief Makanjuola Ogundipe, had called two meetings – the first was in Abuja on the 17th of March, 2016; the second was in Ibadan on the 30th of March, 2016. The meeting in Ijebu-Igbo was the third and it had been fixed before theirs. I did not call the meeting. I was just one of those who facilitated it alongside other well-meaning and functional leaders of the party in the South West. If they could hold their meeting in Akure, why can’t the zonal exco hold theirs wherever they deemed fit?

Kashamu

On the issue of peace and reconciliation, all I can say is that water will find its level. You would recall that those who were strongly against the North or Senator Ali Modu Sheriff retaining the National Chairmanship position have now soft-pedalled.

So, with time, they will see reason with our position and join us in the campaign to retain the National Chairmanship position in the North and particularly the North East with the incumbent National Chairman, Senator Ali Modu Sheriff retaining the position. That is the most reasonable and practicable thing to do. The National Chairman has done so well since assuming office. So, there is no need changing him or experimenting with any other person.

14

POLITICS

MONDAY, MAY 9, 2016 NEW TELEGRAPH

S’West and the elusive PDP chairmanship

Ekwueme

TEMITOPE OGUNBANKE writes on the inability of the South-West to produce the national chairman of the Peoples Democratic Party (PDP) since 1998

S

ince its formation in August 31, 1998, the Peoples Democratic Party (PDP) has remained one of the formidable political parties in Nigeria. While many political parties formed after the PDP have died natural deaths or struggling to survive, the PDP formed prior to the advent of the Fourth Republic on May 29, 1999 is the only party in Nigeria that has remained intact in the last 18 years.

From its inception till date, the PDP has had 13 national chairmen in substantive or acting capacities and the tenure of some of the chairmen ended amidst crisis. Many of them were forced to resign from office while only two completed their tenure.

Those who have steered the ship of the party are; Dr. Alex Ekwueme, Chief Solomon Lar, Chief Barnabas Gemade, Chief Audu Ogbeh, Dr. Ahmadu Ali, Prince Vincent Ogbulafor, Dr. Okwesileze Nwodo, Dr. Haliru Mohammed Bello, Alhaji Kawu Baraje, Dr. Bamanga Tukur, Dr. Adamu Mu’azu, Chief Uche Secondus and Senator Ali Modu Sheriff.

Ekwueme, a Second Republic vice president was the protem national chairman of the PDP.He piloted the affairs of the party for three months before he voluntarily stepped down to run for the PDP presidential primaries.

Lar, a Second Republic governor of the old Plateau State took over from Ekwueme and conducted the first national convention of the party in Jos, where Chief Olusegun Obasanjo defeated Ekwueme to fly the PDP’s presidential ticket in the April 1999 presidential election. After steering the ship of the party for some months, Lar, in November 1999 passed on the baton to Gemade, after he defeated Chief Sunday Awoniyi to emerge the first elected national chairman of the PDP.

Tukur

Lar

Gemade’s attempt to seek re-election in 2001 after completing his two year term hit the rock as he lost the chairmanship to former minister, Ogbeh. Gemade who had defied pressures from Obasanjo to resign and not to go for a second term, finally threw in the towel at the convention ground allowing Ogbeh to emerge as the consensus candidate.

Ogbeh was elected to serve for four years following the adoption of amendments to the party's constitution allowing party officials to serve for four years but he could not complete the tenure following his conflict with Obasanjo. He was replaced by Ali, who first served in acting capacity before being elected at the party’s national convention in 2005. At the end of his tenure in 2008 he handed over to Ogbulafor following the zoning of the office of national chairman to the South-East.

Ogbulafor on May 2010 stepped down and passed the baton to former National Secretary of the party, Nwodo, who he had earlier replaced as National Secretary in 2001. Nwodo’s tenure was very short as it was marred by a lot of controversy, which forced him to vacate the office for his deputy, Mohammed, in acting capacity.

Mohammed acted as the national chairman of the party until he was appointed a minister. He was replaced in acting capacity by Baraje who served as national chairman until the election of Tukur during the party’s national convention in March 2012. The tenure of Tukur was marred with a lot of power tussles between him and some organs of the party, especially the PDP governors. His three years reign caused a lot of division in the party and the crisis forced him to resign in 2014 and handed over to Mu’azu, who led the party to a woeful performance during the 2015 general elections.

Following the poor performance of the PDP, having lost the federal and many states to the All Progressives Congress (APC), Mu’azu resigned few months after the election and handed-over to the Secondus in acting capacity till a substantive chairman is elected. The litigations battle among the leaders of the party paved way for Senator Sheriff to become the incumbent chairman

Mu'azu

PDP national chairmen from 1998 till date NAME

Zone

YEAR

Alex Ekwueme

South-East

1998

Solomon Lar

North-Central

1998-1999

Barnabas Gemade

North-Central

1999-2001

Audu Ogbeh

North-Central

2001-2005

Ahmadu Ali

North-Central

2005-2008

Vincent Ogbulafor

South-East

2008-2010

Okwesileze Nwodo

South-East

2010

Haliru Mohammed

North-West

2010

Kawu Baraje

North-Central

2011-2012

Bamangar Tukur

North-East

2012-2014

Adamu Mu’azu

North-East

2014-2015

Uche Secondus

South-South

2015-2016

Ali Modu Sheriff

North-East

2016 till date

The decision of the zoning committee is believed to be a tactical approach to pave the way for Sheriff

of the party.

Since the formation of the party 18 years ago, the South-West is the only geo-political zone that has not produced national chairman.

From 1999 to 2007, the position of president, occupied by Chief Obasanjo prevented the SouthWest from producing the PDP national chairman as the position was zoned to the North and based on the zoning arrangement, Lar, Gemade, Ali and Ogbeh led the PDP for nine years.

With the emergence of late Umar Yar’Adua as president in 2007, the PDP national party position was zoned to South-East and the zoning paved way for Ogbulafor and Nwodo to lead the party.

The death of President Yar’Adua and emergence of his vice, Dr. Goodluck Jonathan as president in 2009, altered the zoning arrangement in the party as the national chairmanship returned to the North.

The tenure of the present PDP National Working Committee (NWC) ought to have ended in March but the power tussle between the party leaders and the political gimmicks that brought Sheriff into office led to the extension of the tenure of the present national executive to May 21.

When Sheriff declared his intension to hand over the May 21 PDP proposed national convention in Port-Harcourt, Rivers State, some South-West leaders kick-started a massive campaign

that the position of the PDP national chairman should be zoned to South-West. Among the earlier campaigners of the South-West PDP agenda were, former PDP Deputy National Chairman, Chief Olabode George; former Minister of Transport and member of PDP Board of Trustees, Chief Ebenezer Babatope; former Minister of Works, Senator Adeseye Ogunlewe, among others.

While the party leaders were clamouring for the national chairmanship, some PDP leaders led by Senator Buruji Kashamu expressed different views and advised the party to zone the position to the North to strengthen PDP, which has only two governors in the entire North and 11 governors in the South. Both camps engaged in battle of wits for some weeks before the matter was laid to rest by Governor Udom Emmanuel-led zoning committee, which zoned the position to North-East. The decision of the zoning committee is believed to be a tactical approach to pave the way for Sheriff to emerge as chairman on May 21.

The decision of the zoning committee, which was ratified by the PDP National Executive Committee (NEC) and other organs of the party was later agreed by the South-West PDP leaders last Thursday during a factional meetings held in Akure and Ijebu-Igbo respectively by the two camps in the region.

With the latest development in the party, the South-West hope of producing the PDP national chairman on May 21 is already dashed and the zone would look forward to another opportunity to lead the PDP after the expiration of the tenure of the NWC members to be elected at the party’s national convention in Port-Harcourt, the capital of Rivers State.

When will South-West produce PDP national chairman? Will South-West produced the next party chairman after the North-East?

Will decision of the PDP to zone the party’s presidential candidate to the North pave for South-West to produce the national chairman of acclaimed ‘largest party in Black Africa.’ These are questions begging for answers as the major opposition party prepares for the future.

POLITICS

MONDAY, MAY 9, 2016 NEW TELEGRAPH

The scramble for the three National Working Committee (NWC) positions zoned to the South-West may pitch gladiators in the zone against each other. WALE ELEGBEDE reports

The jostle for NWC offices

W

ith the loss of the Peoples Democratic Party (PDP) national chairmanship seat, the South-West zone of the party got the slots of the National Secretary, National Auditor and National Publicity Secretary.

Although the fuss over zoning of the national chairman of the party to the North-East has not subsided in the zone, those who were interested in the offices zoned by the Governor Udom Emmanuel of Akwa Ibom State-led zoning committee and ratified by the party’s National Executive Council (NEC), have started mobilising and making surreptitious moves to become the zone’s candidates for the offices at the May 21 national convention.

From the various maneuvers, three clear camps have emerged in the zone. First is the former deputy national chairman of the party, Chief Olabode George group, which wants the national chairmanship slot for the South West; second is the Senator Buruji Kashamu and Governor Ayodele Fayose group that prefers the North East, specifically, the current chairman, Senator Ali Modu Sheriff to succeed itself; while the third group is the Ondo State governor, Dr. Olusegun Mimiko’s camp, which appears indifferent initially but may have aligned with the George’s camp.

However, the two meetings held last week at Ijebu-Igbo, Ogun State and Akure, Ondo State, appear to have changed the face of the party a bit. Although, there is no formal reconciliatory stand, but it is assumed that the acceptance by the George’s group of the zoning arrangement may have paved the way for the May 21 convention and the eventual crowning of Senator Ali Modu Sheriff as the next chairman of the party.

Before the official zoning of the

15

Oladipo

Adeyanju

Olayinka

Olafeso

three offices zoned to the South West, the three groups have been testing their might over who will nominate candidates for the offices.

With six states making the zone, the offices were expected to be shared on the basis of the three sharing blocks in the zone, namely, Lagos and Ogun axis; Oyo and Osun axis ; and Ondo and Ekiti axis.

Perhaps, the only position that appears to have drawn out much interest is the office of the National Publicity Secretary of the party.

Among the early contenders to show interest in the office was the Special Assistant on Public Communication and New Media to Governor Fayose, Mr. Lere Olayinka and former DG, Jonathan/Sambo Campaign Organisation, in Ogun State, Mr. Segun Showunmi.

The three groups have been testing their might over who will nominate candidates for the offices

Those who also threw their hat in the ring for the party’s spokesperson were Osun State PDP Director of Media and Strategy, Prince Diran Odeyemi; member of the PDP Presidential Campaign Council in 2011 and 2015 elections from Lagos, Comrade Babasola Kuti and a longtime ally of Governor Mimiko, Dr. Eddy Olafeso from Ondo State.

For the offices of the National Auditor and National Secretary, there was little or no scramble about it as feelers from the zone show that the incumbent in those offices, namely, Professor Wale Oladipo from Osun State and the Auditor, Adewole Adeyanju from Ogun State, both allies of Kashamu might return to the NWC. However, last Friday's report of the zone's committee on zoning

headed by a member of the party's Board of Trustees (BoT), Alhaji Shuaibu Oyedokun, put cap on which state gets what in the zone.

The nine member zoning committee zoned the office of the National Secretary to Osun State, National Auditor to Ogun, while the office of the National Publicity Secretary was zoned to Ondo State.

The zoning committee report which has already been ratified by the Makanjuola Ogundipe-led South West zonal executive also zoned the office of the National Vice Chairman of the party to Ekiti State.

Other allotted offices among the six states are the ex-officios position which was shared as follows, Lagos (male), Ogun, (female); Ondo, (female); Ekiti, (male); Osun, (male), and Oyo (male).

Although members of the committee are mostly drawn from the Senator Kashamu group and their report could be said to be a reflection of his dominance in the activities of the party in the zone, especially if Oladipo and Adeyanju make their way back. That presupposes that the Ogun East Senator had two candidates in the NWC from the zone with Mimiko only producing one.

From the foregoing, it is clear that both Fayose and George, may not produce any candidate for the NWC at the coming convention, but whether they will stick to the sharing formular and let the sleeping dog lie or reignite the path of crisis is a story that only time can tell.

Other members of the committee that the decided the zoning in the zone include, Senator C.K.Awoyelu, Deputy Chairman; Senator Kashamu, member; Hon. Ebenezer Alabi, Hon. Segun Odebunmi, former Lagos PDP governorship candidate, Dr Ade Dosumu; Chief Mrs. Aduke Maina, Alhaja Bose Adedibu and Hon. Segun Adekoya, who served as the Secretary of the committee.

While it will be safe to say that the peace in the party in the zone is that of a graveyard, the coming days will show whether the zoning intrigues and the eventual emergence of candidates for the three major offices allotted to the zone will still generate another round of fuss within the party.

How S'West won and lost the battle CONTINUED FROM PAGE 13

Segun Adegoke and Dr. Doyin Okupe.

Mimiko who spoke about the need to foster unity among the leaders of the party in the country, said disunity would only lead to further decimation of the party with aggrieved members leaving the party to form another political party with the relics of the APC who would also leave for various reasons.

His words: “Whether we like it or not, PDP is the alternative political party in the country. But if we mess it up, another party will come up. There is no doubt about it Nigerians are waiting. If we mess up, a new party will emerge and become the darling of this country because the country is waiting.”

Fayose who harped on the unity of the party at all levels stressed the need to form a formidable opposition to confront the ruling

APC which, he said has plunged the country into needless crisis.

The party leaders, according to a communiqué issued at the end of the meeting and read by Prof. Adedoja, agreed to set up a committee to allocate the positions allocated to the South-West among the six states of the zone.

The communiqué read in part: “That despite the challenges confronting the PDP, the South-West caucus has agreed to unite and confront the challenges that is facing the Yoruba race in Nigeria.

“Members of the PDP have agreed to rise up beyond personal interests to confront crucial national issues that affect us as a race especially the thriving menace of the Fulani herdsmen.

“That the meeting notes with dismay the poor state of the national economy and feel terribly sad that the current ruling party

has not demonstrated the capacity to contain the economic challenges with attendant dwindling fortunes that has reversed almost all the economic gains recorded under the PDP. “That developments in the sphere of elections, is becoming disturbing and from all indications, the accomplishments recorded by the last PDP Government as regards the conduct of credible elections, are beginning to wane. The Southwest PDP wish to put on record our dissatisfaction with the performance of the electoral body under the ruling party as all the elections the APC has so far superintended have ended as inconclusive!

“That the PDP will not shy away from effectively playing the role of an opposition.

This role is crucial to democratic survival and the Party shall continually make Nigerians look up to it as a credible alternative

to the ruling party.

“That we commend the on-going conscious efforts of the party in ensuring genuine reconciliation of aggrieved party leaders and members towards ensuring that we become stronger.

“That the party will continue to encourage the collaboration of the old and the younger generation while it will do everything possible to allow fresh minds and fresh ideas to thrive.”

No doubt, the battle for the PDP chairmanship has been won and lost by the respective factions of South-West chapter of the party but is left to be seen if the lessons learnt will teach the various gladiators some political lessons on the need to close ranks.

• Additional reports from Babatope Okeowo (Akure), Adeolu Adeyemo (Oshogbo) and Kunle Olayemi (Abeokuta).

16

MONDAY, MAY 9, 2016 NEW TELEGRAPH

Opinion Collateral reward for inefficiency Dominik Umosen

E

ven without the Nigerian Immigration Service (NIS), refuting any link between escalating criminalities by herdsmen with established disdain for constituted authority and foreign criminals posing as genuine nomads to take advantage of the country’s security situation, this laughable presumption eventually collapsed like the after-thought it is.

We are perched on a similar blunder in proposing a special force to tackle the menace of oil pipeline vandalisation, as if we are unaware that vandals and unscrupulous security agents operate in collusion. Both also feign ignorance that helicopters deployed by the desperate vandals in Ikorodu, for instance, do not whir loud enough for them to hear. The pretence is more heart-breaking than realization that scarce resources could have been put to better use, instead of duplicating bureaucracy.

Attributing identifiable criminalities by Fulani herdsmen to imaginary foreign scapegoats as well as the rib-cracking pretence not to know those aiding and abetting oil pipeline vandals might thrill as escapism. But doing so gratifies the powerful and determined cartel that drives both criminalities into imagining that it has overwhelmed the authorities into responding in fits of confusion, including the dangerous presumption that there is merit in patronizing or succumbing to monster intrigues inspired from the Pandora Box that power-generation politics translates into.

Things really got fired up, forcing members of the House Of Representatives to split after Hon Edward Pwajok, querried the N30b bond the Federal Government is raising to

finance the power sector that has since been privatized. The Ministry of Power, Works and Housing, he said, plans to use the Nigeria Bulk Electricity Company to raise the bond which is expected to ‘cover the market shortfall made up of N187b accrued in 2015 and N132b projected as shortfall for 2016’.

The resolution by the House followed a motion to this effect by the legislator from Plateau who expressed surprise that the administration was raising another bond soon after the Central Bank of Nigeria (CBN), provided intervention fund of N213b for the power sector.

Like many Nigerians that are stunned by this ‘vodoonomics’, the legislators are worried that in spite of the intervention, the shortfall, instead of being wiped out, continues to escalate at the rate of about N15b per month (equivalent of N500m daily), rising to total shortfall of N400b as of December 31, 2015.

Leading the debate, Pwajok argued that ‘the idea of borrowing to fund shortfalls would discourage new investors to venture into the Nigerian electricity market, the implication being that the projected generating capacity expansion is an illusion since any increment in generating capacity would further escalate the market shortfall’.

‘Disturbed that despite there has been no noticeable improvement in the electricity sector, either in the area of generation, transmission or distribution, tariffs have been increased twice since 2013’, he said, adding that ‘the distribution companies (discos), which collect revenues, fail to remit in full to other market participants without any measure put in place to block leakages and there are no sanctions or penalties for defaulters’.

At first glance, nothing in this high-falutin rigmarole seems awry until the outcry by the legislators that this over-flowing spirit of

There is no guarantee that Father Christmas might not be invited by others tomorrow

financial rascality underlines insensitivity to the current mood of Nigerians. Sufficient moral offensiveness oozes out from this inelegant crouch to grab additional loans to fund enduring intrigues that government has since divested from. Encumbering the Federal Government with fresh loans than necessary is a brutal assault on the picture of prudence painted by the administration.

If this over-flowing spirit of financial rascality is to be profiled appropriately, there can not be any justification in demands for unmerited assistance and support to investors in the power sector who feign ignorance of the enormity of investment that was required for participation as core investors in the badly-performing sector.

It is investors in the power sector today but there is no guarantee that Father Christmas might not be invited by others tomorrow since the government has signed up for this role..

It is baffling that rather than demand responsibility and efficiency from investors who won privatization bids but are yet to justify public confidence, the administration plots to compensate transparent inefficiency with fresh loans at public expense. This is incredible logic that is no less hare-brained.

The worry, however, is that at the rate government is spreading itself, it might have stretched itself too thin for balance by the time other nonperforming core investors file out with similar requests for loans than it has resources for.

If the indecent scramble for the power sector loans succeeds, Nigeria will make history by rewarding inefficiency and mediocrity which is what applause for the deplorable power situation in the country amounts to. Compensating an investor for consistent performance failure, invariably, removes inducement for efficiency.

•Umosen (dominik.umosen@gmail.com) wrote in from Lagos.

Biafra: Enemies in our midst (6) Boniface Alanwoko CONTINUED FROM LAST MONDAY

J

ust look around and tell me if there is any Igbo public officer at the centre who does not owe allegiance to either Chief Olusegun Obasanjo or any of his colleagues. After every electioneering year, the first undertakings most Igbo elected officers make are either to visit the Hill Top in Niger State, Otta Farm in Ogun State or to place copious congratulatory messages to their respective godfathers, who are never Igbo nor have interest in any genuine Igbo development.

Surprisingly, Ndi Igbo have allowed this reprehensible situation to linger. In my article: Civil War, Time for Igbo Public Inquiry, published in the Daily Sun of September 9. 2009, I enumerated these facts and offered remedies. That article which made Ndi Igbo in the Diaspora to ask me to launch a forum where certain Igbo issues could be continuously and judiciously treated can now be accessed, because I have obliged them by launching Igbozuruoke Forum, last year. The online forum www.igbozuru.com is presently running skeletally, pending when the upgrading will be concluded.

In that article, I bereted Ndi Igbo, for paying cursory attention to how their leaders emerge. For example, Chief Arthur Nzeribe, was accused of supplying ammunition to both the Biafran and Nigerian sides during the civil war. When

he came to contest elections in Igbo land, nobody queried this fact; rather, he was given unfettered access to become an Igbo leader and representative. It is left for Ndi Igbo to decide whether his representation was beneficial to them or not.

Today, Admiral Ndubisi Kanu (retd), an Igbo, is venerated within the Yoruba circle. For his antecedence when he served as the military governor of Lagos State and his roles during the June 12, struggle, the Yoruba have entrusted him with critical responsibilities to the extent that you would now think he is a Yoruba man.

This is because, the Yoruba do not entrust their leadership to non-tested hands. For example, the Yoruba will not allow anybody who is not a confirmed Awoist or a NADECO’s proponent to come near their leadership circle. In the Arewa community, you will also find this gambit, but not with the Igbo.

It appears the Igbo have resorted to applying the egalitarian culture that has seen them emerge as a force to reckon with in every endeavour before the war, to a crude use. Today, it is only in Igbo land you will see a barely literate fellow jump into the fray and announce self a candidate in a contest where professors, PhD holders and the likes are expected to contest. It is only in Igbo land, Anambra State in particular, you will see up to 30 candidates coming out to contest one gubernatorial post and pay the mandatory millions as a qualifying fee. It is only in Igbo land you will see Igbo elite in the Senate allow a puppeteer, (Obasanjo) to humiliate Ndi Igbo by succeeding in shuffling four of them at a space of time, on a post reserved for them.

In 1995, when Gideon Akaluka, was gruesomely murdered, before horrified

Nigerians could understood what happened, an Igbo riff-raff had rushed down to Kano where he went on the air and started preaching forgiveness and unity for the country, even when the Igbo intelligentsia and relatives of the victim had not made a comment. There is no doubt that the Oba of Lagos’ mindset on Ndi Igbo, is fiendish but the opportunity to publicly insult them came when some wretched so-calledDiaspora-Igbo chiefs went to his palace for whatever reasons. Going by their grinning in a picture with the Oba, after the insult, one could be excused to assert that they cherished and endorsed the Oba’s affront.

For this reason, there are more works to be done in Igbo land by the agitators than elsewhere. With the scenario in Igbo land today, no type of agitation or scheme will bring the Biafra campaign to fruition. Even if you call for a referendum, these so-called Igbo leaders, in concert with their Nigerian overlords will make sure it comes to naught.

We must clear the Augean stables in the land before we talk of anything else.

This has become imperative due to Igbo predicament in Nigeria. For example, consider what happened in 1953, when Igbo killings first took place in Kano city. That year, the Action Group, a political party owned by the Yoruba and led by Chief Obafemi Awolowo had gone there to conscientize the Kano public about the imperative for Nigeria getting independence from Britain, a move which the Northern oligarchy stoutly opposed.

However, when the Kano indigenes who opposed the A.G. decided to counter the campaign, they left the Yoruba and vented their anger on innocent Igbo, killing, looting and destroying their properties. When the dust settled, the Northern oligarchy

declared that the Igbo who came to Kano, dominated everywhere and refused to convert to Islam, deserved to die, not the Yoruba who came to insult them with their campaign.

In 1980, the flamboyant governor of Kano, Alhaji Abubakar Rimi, after another riotous incident against the Igbo in Kano, re-echoed this Fulani standpoint.

In the midst of Igbo corps and properties destroyed. He said: “There is no way the situation on ground can be tolerated. A small Igbo man will stride into Kano emptyhanded, after some years, he will expand and become a millionaire, he will neither help the indigenes nor convert to Islam, they should leave.”

During the 2015, electioneering, the Oba of Lagos, told Ndi Igbo, pointblank that if they did not do the Yoruba bidding in Lagos, they will drown in the Lagoon, the Nigerian government did not caution the Oba. Instead, some misguided Yoruba irredentist, advised the Igbo in Lagos to put on their thinking cap and stop complaining. All these are happening to the Igbo in a country where they supposedly belong. Before the new dispensation, the ACN government in Lagos State had declared that any Igbo, who did not like the ACN’s excesses, should come to the Lagos State Secretariat, collect five thousand naira and relocate to the East.

So, why should there be trouble when Ndi Igbo decide to leave Nigeria?

The fact that Igbo elite are not showing interest in this endeavour or that majority of present agitators may be those born after the war who cannot understand the consequences of another feud does not vitiate Igbo aspirations behind the struggle.

• Alanwoko, a journalist, writes from Lagos.

MONDAY, MAY 9, 2016 NEW TELEGRAPH

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In defence of country

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here is no greater honour than to die in defence of one’s fatherland, it is even more honourable to die on one’s feet fighting than to live as a slave. To die so that others will live is part of the vow of a true soldier. Oluwatoyin Ogunleye deserves more than the traditional 21-gun salute for paying with her life in the fight against insurgency.

According to reports, Ogunleye a female soldier and part of the troops fighting insurgents in the North East , was captured by Boko Haram fighters in Baga, Borno state sometime in 2015 and beheaded by the group. Although the Nigeria Army has denied knowledge of any such atrocity, it is widely believed that the Amazon could have been indeed killed by her captors.

The young soldier , reports say, joined the Army in 2013 after graduating from the Tai Solarin College of Education , Ijebu Ode, Ogun state. What this means is that she died just about two years after enlisting as a soldier. And because she was not commissioned, she must have spent six months in training at the Army depot in Zaria.

There could be questions about sending soldiers fresh from training into the heat of battle when there are more experienced fighters who should have been drafted to confront

the deadly Boko Haram Group.

However, the rules of engagement do not specify at what time or period a soldier should be ripe for war. In the military name does not matter so much when call to duty beckons. The number of the soldier counts.

In the past, a woman’s place in the military was not in the battlefield as a combatant.

Women joined as nurses, medical doctors, typists or even architects. The first female Two –Star general actually wore an ox blood beret having emerged from the medical corps of the Army. The first woman Admiral in the Navy is a architect.

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Queen Amina of Zaria and just across our border to the West, we had the Amazons whose present home is somewhere in Benin Republic.

Toyin Ogunleye followed her dream of serving her country.

She stood for Nigeria and died for the nation. The nature of her death may sound cruel but her sacrifice says so much about the determination to confront insurgency headlong.

It is part of the weapon of Boko Haram to frighten com-

Death is inevitable, no mortal will stay on earth forever

Therefore, it is possible for a lady to be in battle without firing at enemies.

All that has changed. In 2010, the Nigeria Airforce got its first female pilot, Blessing Liman. Before her emergence, there were female paratroopers in the Army. And to cap it all, during the Goodluck Jonathan Presidency, the Nigeria Defence Academy [NDA] welcomed its first female Cadets.

The African woman over the years has not been in anyway limited by gender in pursuit of personal fulfillment. Even in years past, there were stories of women leading kingdoms to battle. There was the great

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patriots and keep them away from the battle field. It has not worked and must not be allowed to lower the

morale of fighting troops.

Beheadings have not stopped the military from answering the call to duty. In September 2014, Wing Commander Chimda Hedima of the Nigeria Airforce was beheaded by the Islamic group after his Alpha jet was shot down in the North- East.

The Co-Pilot managed to escape after parachuting to safety. The pilot was not that lucky.

Earlier in July 2014, one Abubakar Umar ,also of the Air force suffered similar fate after an Mi-35 helicopter was shot down in Bama, near Damboa.

His captors could not get the pilot and in their cruelty asked how much the Airman was

receiving as monthly salary to fight . Not even his insistence that he was a muslim like his tormentors could save him.

While we condemn the execution of this soldier woman we also salute her even in death for paying the price to keep her country safe. Death is inevitable, no mortal will stay on earth forever. For those who have chosen to die in defence of the nation , all must applaud their sacrifice.

The military have their way of honouring fallen colleagues. It may not be their tradition to declare Ogunleye dead. She could be Missing In Action [MIA] or a Prisoner of War [POW] in one of the phoney Boko Haram jail houses. These are terms they could use to keep the family going while they buy time.

We believe that the best way to honour these great compatriots should be through the families and loved ones they left behind.

Their entitlements should be paid in good time and for those who have dependants government should guarantee their upkeep.

This also the best time to encourage members of our armed forces. We should not join foreign agencies in criticizing them over tactics when indeed they are the ones who have been brutalized by the terrorists. Whatever the soldiers need to conclude the war, let them have it.

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MONDAY, MAY 9, 2016 NEW TELEGRAPH

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monDAY, MAY 9, 2016 NEW TELEGRAPH

Interview

Law

Musa: Why FG must provide grazing reserves for herdsmen

News Businessman jailed 7years for swindling Swiss firm of N171.2m

20 23

Dust over new anti-graft bill Should the Money Laundering (Prevention and Prohibition) Bill 2016 be passed into law? Lawyers say yes, no.

TUNDE OYESINA and AKEEM NAFIU report

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he current EFCC under Ibrahim Magu is performing like the EFCC we had under Nuhu Ribadu. They were both serious in investigating corruption, money laundering and other related cases.

Now, if the politicians that are guilty of these offences want to divest the anti-graft agency of its investigative powers, it then means that something is wrong, one said.

The time has come for the EFCC to restrategize and put itself in a good position to be more effective. It has to divest itself from all civil and debt recovery related cases that cause distraction. It is in the light of the above that I believe that the money laundering bill is an attempt to actually help the EFCC and reposition it to perform better”, another said.

With these, lawyers at the weekend divided sharply on the plan by the National Assembly to amend the Money Laundering Act through a bill entitled the new Money Laundering (Prevention and Prohibition) 2016.

The bill which had scaled second reading would divest the Economic and Financial Crimes Commission (EFCC) of its powers to probe offences bordering on economic and financial crimes if it becomes law.

Besides, if passed into law, it would give discretionary powers to the nation’s Justice Minister and AttorneyGeneral to investigate and prosecute accused persons.

Also, the bill would take away the duty and responsibility of the Special Control Unit against Money Laundering (SCUML) as if it would establish a Bureau for Money Laundering Control (BMLC) if it is passed into law.

Already the EFCC had kicked against the bill, describing it as illegal, null and void contrary to President Muhammadu Buhari’s raging war against corruption.

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Saraki

Magu

Ubani

Mahmud

EFCC is kicking against the new Money Laundering (Prevention and Prohibition) Bill 2016 because it would be prejudicial to President Buhari’s anti-corruption agenda, insisting that the bill would affect Nigeria’s application for the membership of the Financial Action Task Force (FATF).

To the agency, the bill which is seeking to divest EFCC of powers to probe offences bordering on economic and financial crimes. If passed into law, would give the Attorney-General of the Federation (AGF) some discretion which may be abused.

Also, it picked holes in the proposed law to establish a Bureau for Money Laundering Control (BMLC) for a service which is already being rendered efficiently by the Special Control Unit against Money Laundering (SCUML).

This, the EFCC made known in a position paper it presented a couple of weeks ago to the National Assembly as it spotted 12 gaps which it believes could impede the government’s anti-

corruption.

It said: “The bill appears complex and difficult to decipher as it is riddled with complex web of cross references.

“Clause 15(4) (c) is unconstitutional as it is retroactive because it is designed to subject persons to prosecution under this bill for offences committed before its enactment into law.

“Clauses 18(5), (6) and (7) are in conflict with Section 7(2) of the EFCC Act as they seek to divest EFCC of its powers to cause investigation into economic and financial crimes offences and by extension, attempt to transfer the statutory powers of the EFCC to an unknown and non-existent agency—Proceeds of Crimes Recovery and Management Agency.

“Clause 14(2) of the bill provides that Financial Institutions (FIs) and Designated Non-Financial Businesses and Professions (DNFBPs) are competent but not compellable to give evidence in criminal proceedings arising

from the report which they make under the bill.

“The effect is that there will be challenges in the successful prosecution of money laundering related offences.

“Moreover, this clause is contrary to the provisions of the Evidence Act as the issue of competency and compellability of witnesses are settled principles of a law under the Evidence Act and judicial authorities.”

The EFCC also faulted discretionary powers given to the AttorneyGeneral of the Federation on reporting of money laundering cases and the amount payable by offenders.

It said such powers may be abused if any AGF is not well-intentioned.

“Considering the importance of reporting in an Anti-Money Laundering (AML) regime, it will be counter-productive to leave reporting obligations to the wide discretion of the AttorneyGeneral.

“This is liable to abuse if the person occupying the office of the AttorneyGeneral at any material time is not well-intentioned. He may adjust the regulations at will to serve or protect some interests. The same applies to making of cash payments under Clause 16 of the bill.

“Moreover, Clause 19 of the bill provides that: ‘The Attorney-General shall, by regulations made on the recommendations of the supervisory authorities set out the prescribed amounts and the specified particulars referred to in Sections 16(2) and 17(1) and 18(1) of this Act’.

“This will likely create uncertainties and challenges in the enforcement and compliance processes. It is also burdensome for the prosecution who will have to look at two or more documents in order to frame charges for money laundering.”

On the plan to establish Bureau for Money Laundering Control (BMLC), the EFCC said it was unnecessary because the same service was being rendered efficiently by the Special Control Unit against Money Laundering (SCUML).

Clauses 35 to 49 of the bill seek to establish an agency known as the Bureau for Money Laundering Control which will be a body corporate, with its own staff and advisory board that will be responsible for the supervision of designated non-financial businesses and professions in their compliance with the provisions of the bill and relevant regulations.

“The work that the agency is to do is already being done by SCUML (which the bill dissolves in Section 49). It has not been shown that SCUML has been ineffective to warrant it being dissolved and another agency set up to carry out its functions.

“Furthermore, making the BMLC a body corporate will expose it to unnecessary litigations by persons who CONTINUED ON PAGE 24

20 Law|Interview

monDAY, MAY 9, 2016 NEW TELEGRAPH

Musa: Why FG must provide grazing reserves for herdsmen Manzur Musa is the Chairman of the Ilorin branch of the Nigerian Bar Association (NBA). Musa in this interview with Biodun Oyeleye speaks on the association’s leadership crisis, planned amendment of ACJA, CPA, CPC and sundry issues

In your view, what is the way out on attacks by Fulani herdsmen against their host communities?

It is unfortunate that in this 21st century, attacks on villages or among communities are not peculiar to Fulani herdsmen. There is inter-communal violence everywhere across Africa and Nigeria in particular. You can’t just imagine why sometimes for issues that are merely imaginary people kill themselves. I think apart from providing a grazing reserve for the Fulani herdsmen, the issue of poverty, unemployment must be seriously addressed so that you don’t easily get recruited for violence all over the place leading to unnecessary waste of lives. But if government will get grazing reserves for Fulani herdsmen it would reduce the problem of violence across all our communities, so be it.

Musa

What is the situation in the Ilorin Branch of the NBA now?

There is unity at the branch level now as factions or the so called factions are now united.

There is absolute unity. The legal profession and the branch is one now. So, there is no faction again in the NBA Ilorin branch with the emergence of the new executive led by my humble self.

What are the goals of your tenure?

The programmes of activities or the focus of the new administration is fundamentally to address the challenges of the legal profession in the 21st century.

You could recall that in recent times, there have been a lot of attacks on the legal profession as a whole both the Bar and the Bench, whether guided or misguided, so the new administration intends to address some of the challenges which obviously we know exist.

Challenges like we want to focus on continuing legal education for our members to address certain shortcomings in the legal profession. You know the legal profession and the banking industry share certain common roles of conduct.

For instance, the interest of the client must be absolutely protected subject to certain laws which enjoin the disclosure of fraudulent activities. We also want to address the challenges of

professional misconduct among lawyers; so the issue of discipline will be seriously addressed by our administration.

This administration will be one year old on May 29. What can you say about President Muhammadu Buhari’s government so far?

First and foremost, the country’s international image has changed tremendously. Nigeria now commands the respect of the international community through the new administration. There is also the crusade against corruption by the government. You know corruption is a fundamental issue in Africa, especially Nigeria. Once you address corruption, every other vice will disappear and there will be responsible and responsive government in Nigeria. We will be able to address social issues like education, health, employment e.t.c because every kobo paid into bribery affects the provision of social services and employment. And it has become like a norm in Nigeria; the competition now is not even to be rich but to be richer than others through bribery and corruption.

So, if the president is able to address even only the issue of corruption during his four year in office, I think I am alright.

Where do you put your constituency in this regards especialy as there are allegations against lawyers aiding corruption among politically exposed

people?

I have told you earlier that some of these are facts and some are misguided because you need to appreciate the role of a lawyer in the society. We have a rule of professional conduct in the legal profession; we cannot act outside the rule of the professional conduct as a lawyer without being sanctioned by the Disciplinary Committee of the NBA. We also have the NBA Anti-Corruption Commission which is very serious with the way our members practice the profession. So, there are a lot of watchdogs in the profession to ensure that the standard of the profession does not fall.

However, one must concede that there are certain elements within the profession that may not keep to these rules. And for them we have the Legal Practitioner Disciplinary Committee which punishes such act.

Attacks on villages or among communities are not peculiar to Fulani herdsmen

How do you react to calls for ACJA’s amendment?

The Act came into being just last year and people are already faulting the Act. The Criminal Procedure Act and the Criminal Procedure Code have been in operation for over 50 years and the one that came into being just last year people are already talking, a law that has not been fully applied.

The Criminal Justice Act has a lot of laudable provisions to regulate criminal proceedings in Nigeria if properly adhered to. But you know Nigerians, there is nowhere in the world where you have a perfect law; what you have all over the world are workable laws that are subject to amendment to reflect developments in the country from time to time. Unfortunately, in Nigeria we are looking for a perfect system; there is nowhere in the world where you have that. What you have are workable laws. So, there is nothing wrong as far as I am concerned with the Administration of Criminal Justice Act which came into existence last year.

There is a lot of hue and cry about the 8th Assembly, what is your assess-

ment of the assemblymen?

Generally in the country, the perception about the legislature is poor. The general perception of Nigerians about our legislature is very poor and I think our legislature needs to improve on their image across the country, from the National Assembly, down to the states Houses of Assembly. In some states House of Assembly such as Kogi, Nassarawa etc, there is violence and I think the country as a whole and especially our vital state institutions ought to be more matured now in the performance of their functions. So, I think the legislature ought to improve in their image among Nigerians.

How would you describe the situation in Kogi Assembly crisis?

As far as the Constitution is concerned when there is a crisis in a state House of Assembly and it cannot sit to carry out its legislative functions, the House of Representatives will have to take over that House of Assembly and perform its legislative functions. The IGP can only keep security; he has no role to play as far as legislative functions are concerned. The role of the IGP is to ensure security of lives and property across the country. So he has no role to play in the House of Assembly.

But the AGF said the National Assembly was wrong on Kogi Assembly?

I disagree.

But the AGF said the conditions precedent had not been met, what is the true position?

I think in Kogi state now we have two speakers and two factions of the Assembly and they have not been sitting. How will you then move the state forward?

Budget has to be approved before the government can spend money and without a budget in place the government cannot function.

So I think there are conditions which the House of Representatives must satisfy before it can intervene in the affairs of the Kogi state House of Assembly in view of our past experiences where members of the Assembly would be throwing chairs and using guns and knives on the floor of the House. I think we should not allow Kogi House of Assembly to get to that point this time around.

Many states have no elected council chairmen and are running. Is that constitutional?

It is very, very unfortunate that local governments now have become departments under the state government. The Constitution is clear; there are three tiers of government in Nigeria; the federal, state and the local government. Now you have the local government but they have become parastatals under the states where their executives are elected and dissolved at will.

I think it is wrong for any state to continue to keep local government caretaker system in Nigeria in contradiction of the provisions of the Constitution.

monDAY, MAY 9, 2016 NEW TELEGRAPH

Foluso Ogunmodede

J

ustice Centus Chima Nweze of the Supreme Court (JSC) has canvassed a review of training curriculum for lawyers that would accord them dignity among their colleagues in international courts and foreign jurisdictions.

Justice Nweze said this at a monthly meeting of the Nigerian Bar Association (NBA) Abuja branch hosted by the law firm of J-K Gadzama LLP at its corporate headquarters in Abuja.

Besides, he tasked lawyers on how to embark on what he described as an integrated course on Criminal Law that would sharpen their comparative study on international laws.

This, according to the apex court Justice would equip young lawyers to tackle perennial features and elements associated with international crimes as “international crimes bear certain peculiar characteristics that distinguish them from ordinary municipal crimes. They are offences that violate the bristle bond of humanity; hence, an offender is seen as hostis humani generis, an enemy of mankind.”

“In order to actualise this goal, we advise young lawyers to embark on an integrated course on Criminal Law which, expectedly would include a comparative study of the features and elements of the above offences with the features and characteristics of international crimes”, Justice Nweze said.

He said: “We must thank Chief Joe-Kyari Gadzama (SAN), who first intimated me of this meeting and the imminence of my encounter with the distinguished members of this branch. His specific entreaty to me was to tailor my reflections to the challenges of young lawyers. That entreaty dictated the choice of issues which we shall broach in this presentation.

“We canvass the view that law scholars in Nigeria should re-imagine the intellectual content and breadth of their fields of study. NBA should now be thinking of moulding and shaping future advocates who would have audience not only in Nigerian courts but also in the global community of courts.

“This is even more so since Nigerians are found in virtually all corners of the globe. These Nigerians in the Diaspora are either engaged in transnational trades, businesses or other forms of endeavour.

“The question may be posed: of what use would the Nigerian lawyers be to such global Nigerians if the Contract Law curriculum, for example, does not transcend the traditional English Law assumptions?

“Do Law Faculties teach their students about the norms of international contract law, the world’s emerging lex mercatoria: the UNIDROIT Principles of International Commercial Contracts or the UN Convention on Contracts for international sale of goods?

“How many Law Faculties in Nigeria teach their students that the World Trade Organisation (WTO) dispute settlement regime possesses an attribute that international law lacks,

Law|News 21

Supreme Court Justice seeks review of training curriculum for lawyers

Nweze

namely, effective enforcement mechanisms?

“Incidentally, as has been observed elsewhere, the WTO dispute resolution mechanism possesses the allure of an international legal regime with efficacious mechanisms, and hence a simple and compelling answer to realist sceptics who doubt that international law is really ‘law’.

“Coming nearer home, we do not entertain any doubt that our Professors of Family Law are conversant with the traditional definition of adultery as the physical infidelity of a spouse.

But then as Professor Karen S. Peterson has insightfully shown in the illuminating article, “Infidelity Reaches Beyond Having Sex,” new forms of social media and virtual communication are shaping the way relationships (including extra-marital physical and nonphysical relation-

NBA should now be thinking of moulding and shaping future advocates who would have audience not only in Nigerian courts but also in the global community of courts

ships) are conducted.

“More communication takes place outside the confines of marriage—even if still within the home. His finding is that cybersex and virtual affairs on the Internet are popular areas of interest among professionals who study spousal infidelity.

“Against this background therefore, the question may be asked: how many Family law teachers have given a thought to whether “virtual adultery” should constitute actionable conduct in divorce proceedings under the Matrimonial Causes Act? The expression “virtual adultery” has been defined as “non-physical behaviour that adopts one or more aspects of a romantic relationship and consequently creates disconnect in the marriage.

“Turning to the Criminal Justice system: under this inte-

grative scholarship which this presentation canvasses, the students’ knowledge of criminal law would transcend the narrow confines of the Criminal Code and Penal Code.

“In other words, it would no longer suffice to teach the elements of the offences of murder; manslaughter; rape etc under the domestic penal statutes.

“Since Nigeria has ratified and would hopefully someday domesticate the Rome Statute of the International Criminal Court (ICC), our young Advocates would, if properly groomed now, be the future Prosecutors and Defence Lawyers for persons who would be charged with the offences defined in the Statute.

“Instructively, due to the complimentary principle in the Rome Statute, the domestic courts have the primary responsibility of prosecuting offences under the Statute. It is only where the country is unwilling or unable to prosecute that prosecution at the ICC can commence through the trigger mechanism.

“In order to actualise this goal, we advise young lawyers to embark on an integrated course on Criminal Law which, expectedly, would include a comparative study of the features and elements of the above offences with the features and characteristics of international crimes.

“International crimes bear certain peculiar characteristics that distinguish them from ordinary municipal crimes.

They are offences that violate the bristle bond of humanity; hence, an offender is seen as hostis humani generis, an enemy of mankind .

“As young advocates who would shape the future of legal practice in Nigeria, we implore you to note that the Evidence Act 2011 did not take account of these and other developments that would enhance expeditious trials.

Although this development have been codified in some jurisdictions, only time would tell whether they would be adopted as part of our adjectival law on digital evidence.”

NHRC reiterates commitment to defend, protect journalists’rights Tunde Oyesina

A

s the International Community celebrates World Press Freedom Day, the National Human Rights Commission has reiterated its commitment to protect the rights of every journalist in Nigeria as a way of deepening democratic ethos in the country.

The Executive Secretary of the Commission, Prof. Bem Angwe who made this call during the Commission’s commemoration of the World Press Freedom Day in Abuja, stated that failure

to protect journalists all over the world would no doubt lead to social disorder and stunted democratic process.

He however called on media practitioners to always make adequate use of the Freedom of Information (FoI) law to boost their access to information in both the public and the private sectors as most of the encumbrance to accessing information had been cured by the law.

While stressing on the need to give adequate protection to journalists, Angwe recalled that the Commission had in

recent times received several complaints from journalists working in prominent media organizations on non- payment of their salaries and entitlements which he described as constituting a gross violation of their rights to work.

He therefore enjoined owners of media organisations in the country to pay journalists their remuneration as at when due as the Commission would not hesitate to take firm but fair decisions on the various complaints lined up before it on non-payment of journalists’

salaries.

This, he said the Commission would do everything within its powers to seek appropriate redress for these journalists as this would encourage hard work and promote balance reporting.

Angwe also condemned in strong terms, the spate of kidnapping of journalists in Nigeria over the years saying, “it is disheartening that the press which we relied on as a veritable source of information and updates on happenings around us are now endangered species”.

22 Law|news

Lawyers, policy makers, others brainstorm on Nigeria’s economy FOLUSO OGUNMODEDe writes that major stakeholders in the nation’s justice administration, policy makers, regulators, academia and industry players at the weekend, gathered in Lagos for this year’s Punuka Attorneys and Solicitors’ lecture to share knowledge, ideas and experience on different areas and proffer solution for Nigeria’s dwindling economy

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articipants including a foremost Harvard University Professor of Trade and Investment, Robert Z. Lawrence and a former Nigerian Head of State, General Yakubu Gowon and an industrialist, Olor’ogun Sonny Kuku at the weekend brainstormed on how the nation’s dwindling economy would be revived.

They agreed that the nation’s economy would need a lot of investments and even though it had no requisite policies to fast track it.

Professor Lawrence, who doubles as the guest lecturer, identified some economic hurdles the country must overcome before it could access opportunities available in the global economies.

He said that economic challenges such as slow growth in advanced economies, depressed commodity markets’ opportunities must be sustained through policies that would improve basic skills that would boost access and market relevance of technical vocational education and training.

According to him, the country’s agric-economy may hit the wall if it lacked increased access to markets, inputs, credits and technology, saying it was time President Muhammadu Buhariled administration created an ‘appropriate macroeconomic environment’ that would fast track and reposition the nation’s economy.

He said: “Nigeria needs to improve basic skills and build better policies and programmes that would boost access and market relevance of technical vocational education and training.

“In Agriculture, increase access to markets, inputs, credits and technology would help to

Tunde Oyesina

T

he Attorney-General of the Federation and Minister of Justice, Abubakar Malami, SAN has affirmed the willingness of the President Muhammadu Buhariled government to fight corruption hence its commitment to promote transparency in governance.

Malami stated this at a workshop on the Open Government Partnership and Beneficial Ownership Transparency Initiative held in Abuja.

“One of the core policies of the administration of President Muhammadu Buhari, GCFR is to fight corruption; hence Nigeria is more willing than before to promote openness in government as an anti-corruption tool.

“I assure you that Nigeria is committed to the objectives of Open Government Partnership

R-L: Former Head of State and Special Guest of Honour, General Yakubu Gowon; Chairman of the Occasion, Dr. Sonny Kuku and Guest Lecturer, Prof. Robert Lawrence during the 2016 Annual Lecture by the Punuka Attorneys and Solicitors, in Lagos.

PHOTO: TONY EGUAYE

grow private business.

“In fact, industries not firms will never be globally competitive but simply a waste of resources.”

He was echoed by Olor’ogun Kuku who said the nation was in dire need of investors so as to reposition its economy.

According to him, there was also the need to protect the investors by creating an enabling environment for them to thrive.

General Gowon described the theme of the lecture “challenges of balancing the need for protection of developing economies and the provision of enabling environment for foreign investment’ as apt especially at a time the country was undergoing crisis in its economy.

He said he was optimistic that the lecture would offer solutions to the myriads of challenges bedeviling the nation’s economy.

Another speaker, Ohuabunwa said there was the need for regular summit on economy so as to

assist the nation to have a bite on how global economies were being run.

He said: “We need to have an economy that is competitive and not the type that is put under lock and key.

“We need policies that can promote economic activities, so we need to to run our economy in line with what we know how to do best.”

However, the speakers including Tinuade Awe, General Counsel and Head of Regulation at the Nigerian Stock Exchange and Ebelechukwu Enedah, a partner in the law firm of Punuka Attorneys and Solicitors were unanimous that unless the Federal Government formulated policies that would facilitate structural changes, the nation’s economy would continue to remain in the woods even though there were opportunities available in the global environment.

It was at the 2016 Annual Lec-

ture organized by the Punuka Attorneys and Solicitors, held at the Metropolitan Club, Lagos.

The annual lecture which paraded key policy makers, regulators, academia, stakeholders in the nation’s justice administration and industry players was entitled ‘challenges of balancing the need for protection of developing economies and the provision of enabling environment for foreign investment’.

At the lecture include General Gowon, who delivered a keynote address, Guest lecturer Professor Lawrence. Host and Senior Partner Punuka Attorneys and Solicitors, Chief Anthony Idigbe, SAN, Olor’ogun Kuku, Mazi Sam Ohuabunwa, Mr. Bashir M. Wali and Lagos Police Commissioner, Mr. Fatai Owoseni, who stood in for the Inspector General of Police, Solomon Arase.

Others are City Bank managing director, Nneka Enwereji, Director-General Nigerian Stock

AGF:We’ll be transparent in anti-graft war and we are looking forward to participate at the London AntiCorruption Summit scheduled for 12th May 2016”, he stated.

According to the AGF, the importance of full disclosure, transparency and accountability in the conduct of government business cannot be over-emphasised, saying that the Freedom of Information Act 2011 (FOI Act) was enacted to achieve openness in the conduct of government business in the country, adding that in 2013, his office with the support of our development partners developed the Revised Guidelines on the Implementation of the Freedom of Information Act 2011.

Malami said: “Sections 1 and 2 of the FOI Act provide for the right of any person to apply for

information or records in the possession of a public institution.

The right of access to information creates corresponding obligations on the part of public institutions to release a record or information in its custody.

“In addition, under the FOI Act, public institutions must be proactive in disclosure of information; therefore, it must routinely publish certain information on an ongoing basis. This obligation is separate from the duty to make information available in response to application for information under the Act. “I understand Open Government Partnership (OGP) to be a multilateral, multi-stakeholder initiative that aims to promote transparency, empower citizens,

fight corruption and harness technology to strengthen governance.

And that OGP provides a policy making platform that brings together government and civil society organisations to make governments more effective and credible through greater openness.”

The Minister of Justice also hinted that he was aware that since OGP’s launch in 2011, its membership had grown from eight to 69 countries; and that currently, only eight were from the Africa continent namely, South Africa, Ghana, Kenya, Liberia, Malawi, Sierra Leone, Tanzania and Tunisia.

He explained that another legislation enacted to promote openness in the conduct of government business in Nigeria is the

monDAY, MAY 9, 2016 NEW TELEGRAPH

Exchange, Oscar Onyema, a former Lagos commissioner, Dr Leke Pitan, Funke Aboyade, Otunba JK Randle and scores of Senior Advocates of Nigeria.

All canvassed an appropriate macroeconomic environment with a view to making a competitive exchange rate inevitable if the nation’s economy must benefit from a myriad of opportunities available in global economic environment.

They however expressed worry that Nigeria which was poorly equipped to compete in global economies may fail to make use of the available opportunities in the global environment.

They said: “There are opportunities in the current global environment but Nigeria is poorly equipped to achieve them. It therefore needs policies that would facilitate structural changes, in principle, industrial and trade policies would help in this regards.

“But an appropriate macroeconomic environment with a competitive exchange rate is essential.”

Idigbe in his welcome address said the choice of the theme “challenges of balancing the need for protection of developing economies and the provision of enabling environment for foreign investment” was influenced by the current social-economic upheaval the nation was facing, saying the topic would at the end served as not only a source of debate and controversy but strategies for positive change.

He said: “The global meltdown of 2008 has apparently refused to abate. Recent instability in commodity prices such as crude oil has exacerbated the situation for most developing economies.

There is apparent need for developing economies to look inward and discover how to diversify their economies. As they endeavor to diversify, the other economies place barriers to protect their local producers.

“The quagmire was aptly captured by Frankling R. Root when he stated that ‘the issue of free trade versus protection has been in dispute since the 18th century.

The arguments are complex and subtle, although the controversy itself is obvious’.

“Reliance on commodity trade has left developing economies vulnerable to the global market crisis.”

Public Procurement Act 2007 (as amended) (PPA), stressing that its main purpose is to ensure transparency, competitiveness, value for money and professionalism in the public procurement system.

“Section 3(1) of PPA established the Bureau of Public Procurement (BPP) as regulatory authority responsible for oversight, monitoring of public procurement process. Strict compliance with BPP procurement procedures in the awards of contract by public institutions in Nigeria has helped government to ensure transparency and openness in the award of contracts.”

“The foregoing establishes the fact that Nigeria has always appreciated the importance of open government as a means of ensuring transparency and accountability in conduct of government business”, he concluded.

Law|News 23

monDAY, MAY 9, 2016 NEW TELEGRAPH

Businessman jailed 7years for swindling Swiss firm of N171.2m Akeem Nafiu

A

businessman, Femi Ogunlowo, has been sentenced to seven years imprisonment by Justice Raliat Adebiyi of an Igbosere High Court for defrauding a Switzerland fertilizer Company, Uralkali Trading SA of N171.2million.

Ogunlowo bagged the jail term after the judge found him guilty on all the amended four counts charge of conspiracy to steal, retaining stolen property; money laundering; retaining proceeds of criminal conduct and forgery, levelled against him by the Economic and Financial Crimes Commission (EFCC).

At the trial, EFCC lawyer, Rotimi Oyedepo, informed the court that the convict committed the offence between January 5 and 29, 2015, in Lagos.

He further disclosed that the convict conspired and obtained the sum of $859,940 from Uralkali Trading SA of Geneva, Switzerland through false pretences.

Atilade

He revealed that the convict had also on January 6, 2015, attempted to disguise the source of the money through unlawful financial transaction.

The convict was also said to have on October 4, 2015, in Lagos, forged a document titled Federal Republic of Nigeria National Driver’s License No: YYY 13850AA dated February 22, 2014,” which he claimed to have been issued by the Federal Road Safety Commission (FRSC).

The convict however denied all the charges and he was subsequently admitted to bail.

Delivering her judgement, Justice Adebiyi held that the prosecution had been able to prove its case beyond every reasonable doubt.

Consequently, the judge pronounced the accused guilty of all the four counts amended charge and sentenced him to one and half years on counts one and two, while he was sentenced to two years on counts three and four.

The sentences are how-

ever to run concurrently.

The convict, Femi Ogunlowo, was first arraigned before the court on March 14, 2016, by the EFCC alongside eight companies, namely; Forston Construction Limited, Cheslinks Power System Limited, Cheslinks Concept Investment Limited, De Beauvior Intergrated Limited, Crestcom Educational Development Limited, Sun Riser International Company Limited (still at large), Yuandeng Plastic and Hardware Moulds Company (still at large) and China Great Value Industrial Company, also still at large.

They were arraigned on a 10-count charge of conspiring to obtain money by false pretence; inducing delivery of property; conspiring to steal; stealing; conspiring to retain stolen property; retaining stolen property; money laundering; retaining proceeds of criminal conduct and forgery.

The counts were later reduced to four in an amended charge.

Bar, Bench celebrate Oyerokun, author of ‘Law Casebooks’ Mojeed Alabi

H

aving spent more than four decades of his adult life in classrooms, teaching and researching into the Laws of the nation and beyond, a 71-yearold Professor of Law at the National Open University of Nigeria, Olusegun Oyerokun, was on Wednesday, April 27, celebrated by scholars and legal icons across the length and breadth of Nigeria for leaving behind an enduring legacy of knowledge and service to humanity.

The occasion was the launch of a total number of 10 different casebooks in the fields of Law including Equity and Trust, Evidence, Banking and Insurance, Company, Tort, Land, Commercial and Labour laws, among others. They were all authored by Oyerokun, who was described by many scholars including the Dean of the Faculty of Law, Obafemi Awolowo University, Ile-Ife, Prof.

Ademola Popoola, as the academic father of many Nigeria’s successful lawyers.

According to the author, the dream to produce relevant texts on cases in Nigerian Law

L-R: Eya, Oyebode and Oyerokun

had stemmed from his experience as an undergraduate Law student at the University of London in 1966, when one of his tutors guided him to understand the importance of casebooks to the teaching and learning of Laws.

He said up till date Nigerian students studying Law in various higher institutions across the country had no access to casebooks; the situation he said had affected their un-

derstanding of various courses. He added that with the successful publication of the books, his fulfilment was never in the accruable material value but in the fact that he was leaving behind an enduring legacy for both the Bar and the Bench in the country.

In his review of the books, the Dean of the Faculty of Law at NOUN, Prof. Justus Sokefun, described the books as necessary compendiums for individuals and organisations in the business of laws in

Nigeria and beyond.

He said: “Despite the virtually impossible task of reviewing 10 casebooks at once, the author must be commended for his m a g i s t e r i a l u n d e rstanding of the law which only a professor of his standing could accomplish.

He has succeeded in expanding and providing through these m at e r i a l s a q u i ck reference for the intended audience. For the students, it serves as a ready fallback to reconcile and distin-

guish cases especially when these cases are extracts from judgments of disting u i s h e d j u d g e s. t o the practitioners, it is a handy tool in the prosecution of cases in the courts of law and to the Judicial officers, a compilation of literature to assist in the administration of justice.”

The event, which was chaired by Mr. Gbenga Oyebode, had in attendance the university’s Deputy Vice-Chancellor (Academics), Prof. Patrick

Eya; Vice-Chancellor of Ajayi Crowther University, Oyo, Prof.

Dapo Asaju; Majority Leader of the Lagos State House of assembly, Mr. Senai Agunbiade; Dean of the Faculty of Law at the Lagos State University, LASU, Ojo, where the author was the Dean for four ter ms, Prof. Michael Ikhariale and the university’s vice-chancellor’s re presentative, Dr. Gbadebo Olagunju, among several others.

A g u n b i a d e, wh o described the author as a teacher of teachers, pledged to stock the assembly’s legal library with copies of the book, while also promising that all the other four lawyers in the assembly will purchase enough copies.

The chair man of the event commended the author for a job well done, saying many lecturers of his age would have lost the steam to engage in such tedious intellectual engagement.

He noted that this is likely to be the first experience in Nigeria where 10 books will be launched by a single author in a single day, describing it as the height of intellectual excellence.

24 Law C O N T I N U E D F R O M PA G E 1 9

do not want to comply with applicable regulations under the AML. By the nature of its operations, it should enjoy a substantial measure of anonymity under another body.

“In addition, setting up an agency as stated above will further proliferate government’s institutions when the government’s policy is to streamline or merge existing ones in order to cut cost.”

“It is against this backdrop that the commission is of the opinion that the proposed Money Laundering (Prevention and Prohibition) Bill 2016 is unnecessary; posits that whatever perceived gaps in the existing legislation(as amended) are not such that cannot be addressed by an amendment.

“In the light of our highlighted observations, it is apparent that the entire bill as constituted will likely prejudice the President’s fight against corruption as it will allow money laundering to thrive in Nigeria.

“In view of the above observed deficiencies inherent in the bill, we recommend as follows: It is not advisable to pass the bill into law. The existing AML has no deficiencies that cannot conveniently be cured by an amendment.

In view of Nigeria’s current standing in the international community on the robustness of its AML/CFT regime, it will be counter-productive to pass this bill into law.

The bill is not timely as its passage will affect Nigeria’s standing in the next round of Mutual Evaluation.

Passing of the bill into law at this time will affect Nigeria’s application for FATF membership since Nigeria’s acceptance is based on the current AntiMoney Laundering Law (AML).

Passage of the bill may subject Nigeria to an FATF International Cooperation Review Group process to determine if the law meets the FATF Standards, and if not Nigeria may be subjected to a complex ICRG compliance process.

EFCC was echoed by a former chairman of the Ikeja Branch of the Nigerian Bar Association (NBA), Mr. Monday Ubani, who asked Nigerians to resist the proposed law, describing it as antipeople.

Ubani, berated the National Assembly for coming up with such a bill, saying it’s high time to called them to order.

He said: “They want to amend Administration of Criminal Justice Act (ACJA); they want to amend Code of Conduct Bureau (CCB) and the Code of Conduct Tribunal (CCT) Acts. Now, they also want to stop the EFCC from investigating economic and financial crimes. I think it’s high time we stopped legislative assembly from making any law again for Nigerians.

“I think we have had enough of these ‘so called legislators’. These people are not making laws to put Nigeria forward but for their own selfish interest. Are there APC members in that house?

What is going on? Who are the persons that are advocating for all these laws that are capable of taking us back to Egypt?

I am just hearing this one now. If it is true, then, something is fundamentally wrong. Nigerians need to rise up now before these people finish Nigeria.

“The current EFCC under Ibrahim Magu is performing like the EFCC we had under Nuhu Ribadu. They were both serious in investigating corruption, money laundering and other related cases. Now, if the politicians that are guilty of these offences want to divest the anti-graft agency of its investigative powers, it then means that something is wrong. These legislators are encouraging corruption that has retarded the growth of this country to continue and we are saying no.

“Nigeria will surely overcome all forms of corruption and its tendencies

monDAY, MAY 9, 2016 NEW TELEGRAPH

Lawyers divided over new money laundering bill

Adegboruwa

irrespective of the manner in which corruption might be fighting back. It is very curious that the National Assembly could even be thinking of working on a bill like this. If you are taking away the investigative powers of the EFCC, where are you taking it to? Who should now be handling the issue of money laundering? So, any law that is put forward now that will encourage corrupt practices in Nigeria, including this money laundering bill is highly condemnable. It is high time members of the various constituencies all over the country looked at the various acts and actions of their representatives and do something by way of recall if they are not measuring up with the requirements. We have invested so much money on these people and the return on investment is so poor. Their actions have called to question the desirability of the National Assembly.

Do we really need a National Assembly? If we do, can’t we do away with the upper house and deal only with the House of Representatives?

But Ebun-Olu Adegboruwa differed.

To him, the National Assembly was in order as the proposed money laundering law was to separate a specific aspect of the anti-corruption war for more detailed attention.

He said: “Presently, EFCC is overwhelmed with anti-corruption cases, bank fraud, Internet fraud, dud cheques and several other fraud related offenses.

There is therefore the need for a particularised definition of economic and financial crimes. There is so much controversy and confusion as to what really amount to economic and financial crimes under the law at the moment. Even without the proposed money laundering bill, the EFCC has always been in dire need of reforms and reorganization.

“To continue to have the EFCC as an omnibus agency to fight and tackle all corruption cases is to whittle down the anti-corruption war and cause it to lose its steam.

“I believe that the time has come for the EFCC to restrategize and put itself in a good position to be more effective.

It has to divest itself from all civil and debt recovery related cases that cause distraction. It is in the light of the above that I believe that the money laundering bill is an attempt to actually help the EFCC and reposition it to perform better”.

Another lawyer, Dr. Abdul Mahmud,

who doubles as the President of Public Interest Lawyers League, dismissed EFCC’s protest on the proposed law.

According to him, “money laundering is a serious and growing crime in our country today and it is only imperative we address this problem by tackling it head on.

He went on: “The proposed bill seeks to establish the legal framework for fighting money laundering and the proceeds of crime menace. Experiences have shown that our extant laws on money laundering and proceeds of crime are inadequate and the EFCC have not shown the unction and desire to fight both crimes because it is saddled with the fight against corruption of politically exposed persons, (PEPs).

“I welcome the bill because with a new agency for money laundering and control of proceeds of crime we would have begun the fight against money laundering.

“I must also state that the objection of the EFCC is not unconnected with its long objection to the desire of the National Assembly to strip it of its power of control over financial intelligence matters, and for which it has no capacity to address as an agency.

“Would the bill have impact on the war on corruption? Yes. Tremendous impact; the kind that will make the war more effective as all three agencies- ICPC, EFCC and the proposed Agency/Bureau- will now be properly focused strictly on their legal mandates. With an agency on control and management of proceeds of crime, we would be on the know of which and what property- proceeds of crime that are being confiscated and turn over to public-state ownership.

“The present regime is vague and for this reason, allegation of conversion of seized property persists against the former EFCC chairman, Ibrahim Lamorde.”

Dr. Abass Oniyangi said that the rejection by the EFCC was an indication on the weakness of the anti-graft agency.

He said: “I don’t think our country has grown to the point of sincerity in fighting corruption. The bill as far as I am concerned is harmless and it should not have raised any controversies.

“If the EFCC continues like that, it will confirm the suspicion of the people that the agency was created for

witch hunting. The agency that does the job does not matter as far as the job is done.

“The bill will no doubt enhance the fight against corruption. Many times we have advocated that a separate body should be saddled with the responsibility of investigating money laundering issues and not the EFCC. “EFCC seems to have over-stayed its welcome. It has become more like a publicity arm of government more than being an anti-corruption agency.”

Wahab Toye said the bill if it becomes law would help tremendously in the fight against corruption in the country.

He said: “I quite agree that money laundering is part of financial crimes and the EFCC is one of the agencies to fight financial crimes. But because of the enormity of the crime in money laundering and non-proactiveness of the EFCC agency which has suddenly become a political organ, that it is only when we have new government that it normally takes work seriously to justify their pay.

“I would have loved the EFCC and the ICPC to be merged together and that several departments be created out of it.

“Independence of EFCC has not really stopped financial crimes. EFCC is not that efficient, they know it themselves; it is only known for political cases.

“A case of 2003 will not be prosecuted until when the person commits another crime against the state that they will go and bring it up. It has turned itself to political agent of the government of the day.

“Let us have a commission where financial crimes will be departmentalized; that will make the fight against corruption okay.”

Mohammed Fawehinmi, however described the bill as a big fraud.

He said: “The EFCC is supposed to investigate financial misappropriation and I am curious as to why the Senators are coming up with such a bill now that most of them are under scrutiny. The Senate President is currently facing trial over corruption charges. His wife was recently questioned by the EFCC. “Also, Senator Godswill Akpabio was also drilled by the anti-graft agency over his activities while he held sway as Akwa Ibom Governor. Several others have also been questioned by the EFCC which I believe is in line with the mandate of the agency in line with the EFCC Act 2004. So, I don’t see the essence of bringing such a bill. I believe these people are trying to shield themselves from being prosecuted for corrupt practices because there were too many of them who have cases to answer either while in office as a Governor or even as a Senator.

“Also condemnable is their halted plans to amend the Code of Conduct Bureau (CCB), Code of Conduct Tribunal (CCT) and the Administration of Criminal Justice Act (ACJA) 2015. All these actions are totally unnecessary.

I can’t see any need for them.”

I have read through all these laws and I think they are serving their purposes properly. It’s very sad that they are coming up with all these actions at this point in time. What happened to the Petroleum Industry Bill (PIB) all these years? They have been dilly dallying on it.

25

MONDAY, MAY 9, 2016 NEW TELEGRAPH

Interview ‘CBN has managed economy, FX regime properly’

Business What's new 4th Mainland: Chinese investors seek FG’s nod

Money Line CBN’s e-payment, transaction-switching guidelines out

34 36

Rates Dashboard INFLATION RATE March 2016...............................12.8% February 2016............................11.4% January 2016..............................9.6%

LENDING RATE Interbank Rate....................12.57% Prime Lending Rate...........17.93% Maximum Lending Rate...26.83%

EXCHANGE RATE

EXCHANGE RATE

(BDC as at May 6)

(Interbank as at May 6)

USD . . . . . . . . . . . . . . . . . . . . . . . N321 Pounds . . . . . . . . . . . . . . . . . . . N464 Euro . . . . . . . . . . . . . . . . . . . . . . N364

l Foreign Reserves – $26.919bn as at 5/5/2016

USD . . . . . . . . . . . . . . . . . . . . . N200 Pounds . . . . . . . . . . . . . . . . . . N307 Euro . . . . . . . . . . . . . . . . . . . . . N224

Source: CBN

p.26 L-R: Head of Operations, British American Tobacco Nigeria (BATN) West Africa, Charles Kyalo; Area Head, Legal and External Affairs, West and Central Africa, BATN, Freddy Messanvi; Olubadan of Ibadanland, Oba Saliu Adetunji; Managing Director, BATN, Chris McAllister and Area Head, Human Resources, BATN, West Africa, Tosin Akinyemi, during a courtesy visit by the BATN management to the Olubadan

Naira: Foreign investors await devaluation

p.26

STAGNATION Operators fear the trend could stagnate FDI and consequently stifle potential growth Kunle Azeez

The Business Desk Ayodele Aminu

Deputy Editor (Business)

Bayo Akomolafe

Asst. Editor (Maritime)

Sunday Ojeme

Asst. Editor (Insurance)

Tony Chukwunyem

Asst. Editor (Money Market)

Dayo Ayeyemi Property Editor

Adeola Yusuf Energy Editor

Wole Shadare Aviation Editor

Chris Ugwu

Capital Market Editor

Abdulwahab Isa Finance Editor

Taiwo Hassan

Industry, Agric & Brands Editor

Kunle Azeez

Senior Correspondent

Chuks Onuanyin Energy

Nnamdi Amadi Reporter

Johnson Adebayo

Asst Production Editor

N

igeria’s $34 billion telecoms market is facing an expansion problem arising from inability of telecoms players to access foreign exchange (forex), New Telegraph has learnt.

According to findings, the current forex policy has prevented operators from importing relevant equipment needed to deepen telecommunications growth and extend services to the rural areas.

Apart from restricting dealers/ producers of 41 items from accessing forex at the official rate - N199 per dollar as against N320 at the parallel market - the CBN had also stopped the sale of foreign exchange to Bureaux de Change operators, as part of measures to reduce the pressure on the nation’s foreign reserves.

This had created a lot of speculative and precautionary demand for forex.

Exporters and investors are holding on to foreign currency, as no one would sell at the rate government is setting, while government does not have the reserves (currently less than $27 billion) to keep the exchange rate at its official level in the market.

These policies have been tried in different parts of the world and in Nigeria before and they have just

$34bn telecoms sector faces expansion debacle As forex restriction persists never worked. No matter what the stated intention behind them, experts say they are wrong.

Meanwhile, sources at MTN, Globacom, Airtel and Etisalat told our correspondent at the weekend that the forex restriction has been one of the major hindrances to achieving their network expansion roadmaps.

“The truth is that the current forex arrangement is not favourable to the telecoms operators who need to import their equipment from abroad and my company is not an exception; we are also affected,” said a source at MTN. A top management source at Airtel, who did not want his name mentioned because he was not authorised to speak on the matter, also said: “My company is not shielded; the story is affecting my company as well because we play in the industry and are affected by the same policy.”

It was also gathered that new telecoms companies by the Nigerian Communications Commission (NCC), including Ntel and Bitflux, are also witnessing the challenges posed by current forex policy, which is affecting their rollout plans.

Managing Director, Ntel, Mr. Kamar Abass, also called on the Federal Government to prevail on the

$42 billion Being the expected total value of investments in the telecoms sector in 2019

Central Bank of Nigeria (CBN) to make access to foreign exchange more flexible for players in the nation’s telecoms industry.

“We are proud that we have used predominantly Nigerian labour and personnel but our equipment all come from abroad and this entails spending tens of millions of dollars,” he said.

“We, as a telecom company are not on the list of those who can access forex, so, it is a real struggle to pay for these items. We need some flexibility on the part of CBN.” Abass charged the government to intervene in the process of obtaining foreign exchange for purchasing telecom equipment to fasttrack telecoms development.

In the same vein, a Director at Bitflux, Mr. Biodun Omoniyi, told our correspondent by phone that the trend if not quickly addressed by the government, it could debar free flow of foreign direct investment (FDI) and consequently stunt industry growth with negative implications on the quality of service enjoyed by growing telecoms consumers in the country.

“As an industry we are at a point when there is need for massive deployment of telecoms infrastructure towards growing the broadband subCONTINUED ON PAGE 26

26

BUSINESS |news

MONDAY, MAY 9, 2016 NEW TELEGRAPH

4th Mainland: Chinese investors seek FG’s nod INFRASTRUCTURE Completion of the bridge will reduce traffic volume on Eko, Cater and Third Mainland passages Dayo Ayeyemi

C

hinese investors are seeking the Federal Government’s guarantee before they can fully commit to the construction of 4th Mainland Bridge in Lagos, New Telegraph has learnt.

According to sources privy to the deal, the Chinese investors want the Federal Government to be fully involved in the project before they can commit

their funds.

Our sources stated that though the Lagos State government is on top of the deal, waiting for the signing of a Memorandum of understanding (MoU) to signal the take-off of the project, the foreign investors are developing a cold foot.

The sources said: “Lagos State government is on top of the situation. Chinese investors are coming to sign the MoU. The bridge’s design, alignment and other necessary things would be done to meet the needs and purpose of the project.

“They have the money, but we are still talking about many issues. They insist that the Federal Government must be fully involved in the guarantee and that is what we are looking at seriously. They must be

given assurance by the Federal Government.

“Foreign investors are not going to think the way local investors think. The moment the Federal Government gives us that backing, the sky is the limit as far as the project is concerned.”

The proposed 4th Mainland Bridge traverses from Ajah to North West direction towards the Lagoon shoreline to LagosIbadan Expressway through Ikorodu. The approximate length of the bridge is 37.9 kilometres (km) with a design speed of 140km per hour.

The Lagos State government had announced, last week, that MoU for the take-off of the bridge would be signed by the end of this month.

According to the Commis-

sioner in the Ministry of Works and Infrastructure, Mr. Ganiyu Johnson, an engineer, the state had held discussions with a consortium of consultants.

The commissioner disclosed that the consultants had proposed various alignments, adding that the preferred alignment had also been chosen.

The commissioner explained that proposals for the construction of the bridge were hinged on the need to solve perennial traffic gridlock being experienced daily by commuters on the 3rd Mainland Bridge.

According to him, the new bridge would serve as an alternative route to solve the incessant traffic congestions within Victoria Island and Eti-Osa/Lekki-Epe corridors as well as help redistribute traffic efficiently.

When completed, he said that the bridge would drastically reduce traffic volume on Eko, Cater and Third Mainland bridges.

“It will act as outer ring road for conveying of goods from the Free Trade Zone, Fertilizer plant, Deep seaport, Dangote oil refinery and proposed airport,” he said.

With the new alignment designed for the construction of the bridge, the commissioner said that 2,200 houses would be saved from demolition.

According to him, old alignment for the bridge was to claim over 3,000 houses, which would mean huge economic losses to the economy.

“With the new design, about 800 houses will now be affected and owners will be compensated by the government,” he said.

Telecoms sector faces expansion debacle CONTINUED FROM PAGE 25

sector. We currently have about 10 per cent broadband when, in actual fact, we are targeting 30 per cent broadband penetration by 2018,” he said.

According to him, to achieve the target, the licensees have to be supported with favourable forex policy, said Omoniyi, whose company won the 2.3Ghz spectrum band in 2014 for the deployment broadband infrastructure.

The company, which secured the licence through an auction process in early 2014, has not been able to rollout, but the Commission said the licensee was still within its legal rollout obligations.

“Against all odds and challenges ranging from Customs and forex issues, among others, Bitflux is perfecting arrangements to roll out commercially before the end of the year,” he said.

Telecoms industry, which stood at $32 billion and has gradually moved to $34 billion, according to the President of Licensed Telecoms Operators of Nigeria (ALTON), Mr. Gbenga Adebayo, is expected to reach $42 billion by 2019, according to KPMG, a consulting firm.

Speaking at a forum organised by the Universal Service Provision Fund (USPF) in Lagos, the Executive Vice Chairman of NCC, Prof. Umar Danbatta, called on the Muhammadu Buhari-led government to revisit its stand on the physical and monetary policy, particularly as it affects forex for importation of telecommunications equipment.

Danbatta said that the critical job facing the commission now was to see how it would amplify the cohesion and collaboration required for interventions in the quest to achieve universal access in Nigeria.

He noted that the operators needed to make investments in infrastructure to consolidate on the penetration efforts, which have seen the underserved population in Nigeria reduced from 36.8 million in 2013 to 33.7 million people currently.

L-R: Chairman, Nigerian Ports Authority (NPA) Pensioners, Mr. Charles Binite; Chief Executive Officer of LiveWell Initiative, Mrs. Adebisi Bright and Head, Institutional Banking-Lagos, Sterling Bank Plc, Mr. Adetunji Ojo, at the medical checkup programme organised by the bank for the NPA Pensioners in Lagos.

Naira: Foreign investors await devaluation ADAMANT Only a fortnight ago, President Buhari reiterated his stance that he would not agree to the devaluation of naira

Tony Chukwunyem

D

espite President Muhammadu Buhari’s apparent strong opposition to the devaluation of the naira - foreign investors are still expecting an imminent devaluation of the local currency – New Telegraph has learnt.

According to sources in the forex market, the expectation that the naira would soon be devalued is the main reason why most foreign investors are reluctant to invest in the country.

A Lagos-based Bureaux De Change (BDC) operator, who did want his name in print, told this newspaper that his efforts to source forex from investors overseas have not been successful because of the concern that the Central Bank of

Nigeria (CBN) could suddenly devalue the naira.

He said: “I have been trying to get inflows from some of my contacts in Dubai and the United Kingdom, but it is either they are reluctant to sell or they insist on selling at close to the going parallel market rate.

According to them, they are expecting that the CBN would soon devalue the naira and they don’t want to be caught unaware when this happens, as it could lead to them losing money.”

He explained that since the apex bank ended its weekly dollar sale to BDCs last January, many of the currency dealing firms have been struggling to survive and have been trying to source forex from investors outside the country.

“We thought that by now investors would have accepted the fact that President Buhari is not going to change his mind on the issue of devaluation. But that is not the case; they (investors) still believe that the CBN will devalue at some point,” he said.

After its last devaluation of the local currency in February last year in which it pegged naira at N197 to the dollar, the CBN has consistently argued that it did

not think the time was ripe for any further devaluation. Despite the dwindling foreign reserves, the regulator, with President Buhari’s backing, has maintained its position, introducing forex restrictions and rejecting calls by the International Monetary Fund (IMF) and other international rating agencies that it should devalue the naira.

The local currency currently exchanges officially at N199 per dollar, but trades at N320 to a dollar at the parallel market.

Only a fortnight ago, President Buhari reiterated his stance that he would not agree to the devaluation of naira, noting that he would stand his ground against it as he did when he was the military Head of State in 1984.

He said: “When I was military Head of State, the International Monetary Fund and the World Bank wanted us to devalue the naira and remove petrol subsidy, but I stood my grounds for the good of Nigeria.

“The naira remained strong against the dollar and other foreign currencies until I was removed from office in August, 1985 and it was devalued. But how many factories were built and how many jobs were creat-

ed by the devaluation? That is why I’m still asking to be convinced today on the benefits of devaluation.”

According to data released by the National Bureau of Statistics (NBS) last Wednesday, Nigeria’s total foreign capital importation declined by as much as 54.34 per cent to $710.97 million in the first quarter of the year (Q1 2016) compared to $1.55 billion in Q4 2015.

The agency also said that year-on-year, capital importation declined by 73.79 per cent, adding that both the quarterly and year-on-year decline represented the lowest records since the series began.

It said: “The fact that the amount of capital imported has dropped to a record low suggests that there are further reasons why Nigeria has attracted less foreign investment in recent quarters. Investors may be concerned about whether or not they will be able to repatriate the earnings from their investments, given the current controls on the exchange rate. In addition, as growth has slowed in recent quarters, there may be concerns about the profitability of such investments.”

BUSINESS | Movers, Shakers and Appointments

MONDAY MAY 9, 2016 NEW TELEGRAPH

Red Star appoints EDs, directors

A

logistics company, Red Star Express Group has appointed new executive directors and divisional managing directors for its subsidiaries.

The subsidiaries according to a statement from the company are Red Star Logistics, Red Star Support Services, Red Star Freight and Express.

In the new arrangement, Sola Obabori, is the group deputy managing director/ chief executive officer, Victor Ukwat, executive director, Sales and Marketing, Auwalu Babura, executive director, Finance and Administration and Charles Ejekam, divisional managing director of the Express arm of the group.

Red Star Logistics is headed

by Ocholi Etu, while Tonye Preghafi, is the head of Learning and Development at Red Star Freight Limited.

Obabori, according the statement, is a professional with long and outstanding sales and marketing career.

He was previously the general manager/chief operating officer of Red Star Logistics

Limited.

He is an alumnus of several advanced management and leadership programmes from The School of Business Leadership of the University of South Africa, McGill Executive Institute, Canada, Lagos Business School, Nigeria; Harvard Business School, USA; The University of Westminster, United Kingdom and FedEx Purple Academy, Belgium where he excelled as the Purple Star Award Winner in 2006, Associate member of the National Institute of Marketing of Nigeria (Chartered) and a Fellow of the Institute of Business Development.

Ukwat, holds a Bachelor of Science from the University of Calabar, Master of Science, University of Ibadan and an MBA in Business Administration from the Lagos Business School. He is an alumnus of senior entrepreneurship, management and leadership programmes from some global best institutions, including FedEx Purple Academy Brussel, IESE Business School (Spain), Harvard Business School

Obabori

Ejekam

UN hires Nigerian to chair Africa ICT Alliance

T

he Chairman of the United Nation, UN, and Commission on Science and Technology for Development (CSTD), Mr. Peter Major has announced Dr Jimson Olufuye as Chairman of Africa ICT Alliance, (AfICTA), a member of the CSTD Working Group on Enhanced Cooperation.

Mayor in a statement, said that his appointment was pursuant to UN GA resolution, which requests the Chair of the Commission on Science and Technology for Development through the Economic and Social Council, to establish a working group to develop recommendations on how to further implement enhanced cooperation.

(USA), Columbia Business School New York, University of Wisconsin (USA) and most recently, Schulich Business School, Toronto Canada.

According to the statement, Babura also, holds a first degree in accounting from Bayero University Kano and an MBA in Business Administration from the Lagos State University. He is an Associate of the Institute of Chartered Accountants of Nigeria. He Joined Red Star Express in 1994, and has served in various capacities as head of internal control and processes, head of treasury and accounts, group accountant, group treasurer, credit controller among others.

He has attended various training programmes cutting across controls, planning, risks and leadership amongst others both locally and abroad.

Also, Ejekam started his career in Red Star Express as a commercial executive in year 2000. He holds a Master degree in Public and International Relations from the University of Lagos and a Bachelor of Science degree in Political Sci-

Olufuye

ence with a Second Class Honours (Upper Division) from the University of Nigeria, Nsukka.

Ojo has 19 years working experience in the company and had risen through the ranks as a commercial executive, commercial coordinator, assistant commercial manager Port Harcourt, district manager, Aba, acting assistant general manager East, and chief operating officer Red Star Support Services.

He is a graduate of Economics & Statistics. He also obtained a Master of Business Administration (MBA) from the University of Benin. He has attended courses in management and leadership, sales and marketing, customer service, finance, manpower development and service management.

Tonye Preghafi , started his career in corporate sales and later moved to learning and development. He served as president Red Star Express Cooperative and Multipurpose Society. He holds a bachelor degree in History from the Lagos State University and a Master in Business Administration

Babura

Firm gets new MD, hires GM

T

ask Systems Limited has appointed an executive director, Mrs. Olufunke Oduntan as managing director.

The firm in a statement, also hired Mr. Lekan Faola as its new general manager (Solutions).

Mr. Stanley Okpalaeke, former managing director, is now group executive director in charge of strategy/new business at Zinox Group Headquarters.

The company, a subsidiary of the Zinox Group, noted that Oduntan’s selection was a result of years of outstanding and meritorious performance, which made her an unarguably excellent choice to fill the vacant role of managing director.

A graduate of Business

Administration from the Lagos State University, Oduntan, holds a Master of Science (M.Sc.) degree in Business Administration from the University of Lagos.

She has previously worked with Virgin Technologies, Siemens Nigeria and Zinox Technologies before joining Task Systems.

Also, Faola’s appointment as chief solutions architect at the company according to the statement, is a result of over 18 years of business development experience in information technology, telecommunications and networking.

A highly trained engineer, Faola has proven ability to enter new markets, attract new customers and grow the business in competitive environments.

27

(MBA) from Business School, Netherlands (BSN).

Ocholi joined the Red Star group from MDS Logistics.

He holds a bachelor degree in Economics from Bayero University Kano and an MBA from University of Wales, Cardiff in the United Kingdom. He is a member of Council of Supply Chain Professionals USA, Chartered Member, Chartered Institute of Logistics and Transport, UK (CMLIT).

New general manager for oil firm

F

ormerly General Manager of Chevron’s Escravos Gas-to-Liquids Venture in Nigeria, Mr. Henry Kusch, has assumed the position of general manager of the El Segundo Refinery.

Kusch according to a statement, took over from Frank Semancik, who had been appointed vice president of Chevron’s Complex Process Facilities in San Ramon, California.

In his new assignment, Kusch will be responsible for ensuring the safe, reliable, efficient and environmentally sound operation of the El Segundo Refinery.

He said: “When the opportunity presented itself for us to return to Southern California, we were absolutely thrilled.

Melinda and I love this area, and we are excited to call it home again. We look forward to seeing long-time friends and making new ones.”

Kusch, a native of Placerville, California, holds a Bachelor of Science degree in Chemical Engineering from University of California, Davis in 1984, and a Ph.D. in Chemical Engineering from the University of Massachusetts, Amherst in 1991.

He began his career with Chevron. During Mr. Kusch’s 25 years with the Corporation, he has held a variety of management positions at Chevron’s refineries in Richmond, California; Pascagoula, Mississippi; and El Segundo, California.

He had served as general manager of the Supply Optimization Group, Americas in Houston, Texas.

Kusch

28

BUSINESS |Stock Watch

The harsh operating and challenging environment of the manufacturing industry have weighed down the earnings margin of Vitafoam Plc, CHRIS UGWU reports

J

ust like other sectors of the Nigerian economy, the year 2015 was tough for the manufacturing industry.

Political risk, currency volatility and uncertainty in global oil prices were some of the key factors that affected performance of companies operating in Nigeria.

The disappointing corporate results being released currently is a pointer that this year has not started up well for companies operating in the country as business operations have had nothing or less profits left for the operators.

The cumulative effect of the scarcity of forex, falling oil prices, security challenges in the northern part of the country with the attendant loss of lives and properties, the resurgence of restiveness in the Niger Delta and the continued depletion of foreign reserves pose serious threats to businesses and social activities in 2016.

The increase in exchange rate has forced manufacturers to borrow at a high rate, thereby increasing cost of productions, made worse by infrastructure deficiency, which has inevitably transferred the high production cost to consumers as this had made manufacturers less competitive, shrinking their profit margins, as naira devaluation takes its toll on imported raw materials.

Given headwinds such as weak demand on the back of a squeeze on household wallets, most consumer goods companies in Nigerian have continued to find it difficult to weather the storm.

One of the companies adversely affected is Vitafom Nigeria Plc, which has seen a continuous decline going by drop in oil price and continued unrest in northern Nigeria resulting in sales decline in that region.

The company began the financial year 2015 in an unimpressive note as the profit margin maintained a decline to what market analysts mainly attributed to weak consumer demands, stiffer competition and lack of accessibility to key markets in the northern part of the country coupled with increased financing cost, which has resulted in slow growth of consumer goods companies in the country.

Market watchers, who had predicted that the company was likely to further underperform in earnings, came near to expectation as the second quarter of 2016 pre-tax profit fell 93 per cent.

However, analysts believe that the ongoing repositioning of the company’s business will enable the company gain competitive advantage.

The company had entered into a scheme of merger with Vono Products Plc, which was approved by the shareholders of both companies early in the year.

Market sentiments for the shares of Vitafoam, a leading household durable company, listed

MONDAY, MAY 9, 2016 NEW TELEGRAPH

Vitafoam: Unfavourable competitive environment shrinks profits

on the floor of the Nigeria Stock Exchange, have dwindled due to the challenging environment, just like other quoted firms in Nigeria facing depression in share prices.

The share price, which closed at N5.66 per share in June 2015, has recorded a dip in growth.

When the closing bell rang on Friday at the exchange, the company’s share price stood at N5.42, representing a decline of 24 kobo or 4.24 per cent year to date.

Financials The company’s dwindling fortune began with the first quarter of 2015 ended December 31, 2014, as earnings were compressed by harsh operating environment leading to a dip in pre-tax profit by 8.7 per cent to N256.138 million in December 2014 from N280.466 million in 2013.

The decline in the first quarter, which signaled worry to investors, was sustained during the second quarter as the company posted a 24 per cent decline in post-tax profits during the half year ended June 30, 2014.

The company in a filing with the Nigerian Stock Exchange said its half-year net earnings decreased from N433.832 million in 2013 to N329.769 million, accounting for a drop of 24 per cent.

Its pre-tax profit also fell to N547.535 million, down 8.7 per cent from N599.890 million in the same period last year.

However, turnover increased by 5.3 per cent to N9.321 billion during the six months to June 30 from N8.853 billion recorded during the comparable period of 2013.

Vitafoam ended the financial year 2015 with 42.82 per cent drop in net earnings as key extracts of the unaudited report and accounts of the company for the year ended September 30, 2015 showed drop in growth in almost key performance indices, damping strong performance outlook of the leading furniture goods companies in the country.

The group’s profit after tax declined by 42.82 per cent to N249.051 million as against N435.595 million in 2015 while profit before tax also dropped by 24.74 per cent from N709.722 million in 2014 to N534.129 million in 2015.

Vitafoam, however, reported a 2.8 per cent growth in revenue during the financial year from N16.71 billion in 2014 to N17.18 billion during the period under review.

Based on the results, the company has recommended a dividend of N245.700 million for its shareholders for the financial year ended September 30, 2015.

The dividend, which is subject to shareholders’ approval at the incoming annual general meeting, is representing 25 kobo per share, according to a notice obtained from the Nigerian Stock Exchange.

Vitafoam also began 2016 on a gloomy note as first quarter ended December 2015 recorded 19 per cent decline in profit after tax from N134.766 million in 2014 down to N108.179 million in 2015.

Profit before tax stood at N164.502 million during the first quarter under review from

ent operating environment had forced the company’s board and management to embark on cost saving initiative in order to sustain the company’s competitive edge.

Makanjuola, who reviewed the current challenges facing manufacturing firms in Nigeria, noted that the foam business was operating in a very competitive environment.

“There are over 300 manufacturers. It is stressful to operate in the foam industry. As professionals, we have tried to keep administrative and financial cost under control,” he said.

Corroborating him, the Group Managing Director, Mr. Taiwo Adeniyi, who assured the shareholders of higher value, lamented the effects of forex scarcity and imported raw materials on the production of foams in Nigeria.

Makanjuola

Vitafoam Plc. 2015

There are over 300 manufacturers.

It is stressful to operate in the foam industry

June 30

N5.66

July 31

N5.59

August 31

N6.00

September 30

N5.90

October 30

N5.33

November 30

N4.90

December 31

N5.41

January 29

N4.56

February 29

N4.58

March 24

N5.42

April 30

N5.42

May 6

N5.42

N256.138 million recorded a year earlier, accounting for a drop of 35.77 per cent while revenue equally dipped by 4.10 per cent to N4.511 billion from N4.704 billion in 2014.

Vitafoam Nigeria posted a 93.11 per cent drop in profit before tax for the second quarter ended March 31, 2016.

The group in a report released to the Nigerian Stock Exchange said it posted a profit before tax of N37.739 million in 2015 as against N547.537 million reported the previous year, accounting for a drop of 93.11 per cent.

Loss after tax stood at N49.607 million from a profit of N341.121 million in 2015 while revenue declined by 13.66 per cent from N9.321 billion in 2015 to N8.047 billion during the six months ended March 2016.

Profit deflators Addressing shareholders recently at the company’s annual general meeting (AGM) in Lagos, the Chairman, Dr. Dele Makanjuola, explained that ongoing inclem-

Looking ahead Makanjuola noted that as part of ongoing repositioning of the business to gain competitive advantage, the company entered into a scheme of merger with Vono Products Plc, which was approved by shareholders of both companies early in the year.

“The resulting synergy is expected to strengthen our market leadership in providing comfort solutions for homes and institutions. Furthermore, the restructuring will strengthen our backward integration proposition and further enhanced the robustness of our product and service offering,” he said.

Makanjuola noted that to further pursue the expansion drive, the group had identified a unique opportunity in the automobile industry emanating from the current administration’s economic policy.

“To harness this opportunity, a new subsidiary is being established that specialises in the production of filters by leveraging the automotive policy’s local content provisions. The new business is expected to commence operations by third quarter thereby opening a new frontier that will help ensure that our business portfolio is adequately diversified to withstand extraneous challenges.

He said despite the uncertain and disturbing outlook, the company would remain resolute in the implementation of nascent strategies that will enable the harvesting of low-hanging opportunities in the economy to improve growth prospects across several markets.

“Innovation and new products development will be the key drivers of our corporate strategy.

We shall stay committed to the company’s brand repositioning of much more than mattress by broadening the scope of our products offerings across the Vitafoam group,” he said.

Conclusion Though high cost of operations have remarkably weighed down on the manufacturing sector, it is important for the company to continue to manage its cost base tightly to deliver moderate operating margins improvement for growth and profitability.

MONDAY MAY 9, 2016 NEW TELEGRAPH

BUSINESS | Capital Market

29

DAILY STOCK MARKET The Nigerian Stock Market Exchange as atREPORT May 6, 2016

30 ANTAGONISM Efforts by one of the insurance firms to introduce the scheme have been frustrated by parents Stories by Sunday Ojeme

T

he National Association of Parents and Teachers of Federal Government Colleges (NAPTAFEGC), an umbrella body of the Parents Teachers Association (PTA), has reiterated its rejection of N5, 000 insurance fees in unity schools.

The Chairman of PTA, Government Secondary School,

Insurance

Why we reject unity schools’ insurance fees – PTA Kwali and North Central Zonal Coordinator, NAPTAFGC, Mr Ehis Ogbeide, stated this in Abuja.

Ogbeide, who said he was not particular about the old insurance scheme, which cost N1, 500, said the era fizzled out on its own and went into extinction.

He said: “Then I was too much in the office. It was not a matter that we handled or we met that we had to fight because that did not even exist at all; it fizzled out on its own.

“But there came in 2014 during our national election in

Umuahia when parents were calling us on vacation day that there was this flier that was given to parents and children about insurance they are introducing. By our constitution, the Permanent Secretary and our board of trustee members are supposed to be ones to conduct the election. So, the ministry sent a high-powered delegation to that election.

“And you know ordinarily when we have a policy shift, you call the national executive council to the ministry and then, you do a discourse.

No parents should pay because

we were not part of that information; and as I am speaking right now, that is still our position for two years running.’’

He said that afterwards, there was a directive from the National Executive Council for all chairmen in that council to send texts to their schools directing parents not to pay.

Ogbeide said that the NEC then started meeting with the ministry on the issue, adding that it was agreed with the ministry that there was a problem with the arrangement between NICON Insurance and the ministry to introduce N5,

L-R: President, Civil Liberties Organisation (CLO), Comrade Igho Akeregha; Head of Campaign and Strategy, Comrade Chijioke Odom and Baba Oloja, Olorunsogo Market, Mr. Adeyemo Lukman Adewale, at the press conference

by CLO on the proposed demolition of Olorunsogo Market, Oshodi, Lagos.

PHOTO: TONY EGUAYE

Accrued rights: Lagos pays 260 retirees N1.08bn

F

ollowing its resolve to ensure retirees receive their due benefits, the Lagos State Government has issued Retirement Benefit Bond Certificates for a total sum of N1.08 billion to 260 retirees.

The beneficiaries are from the mainstream, local government; SUBEB; TEPO and parastatals under the Contributory Pension Scheme (CPS) for the month of April 2016.

The payment has brought the number of retirees paid between August 2015 and April 2016 to 3,069. The total accrued right paid so far from the aforementioned

month to date is N13, 701 billion.

During the presentation of the 26th Retirement Benefit Bond Presentation, the Director-General, Lagos State Pension Commission (LASPEC), Mrs Folasade Onanuga, advised the retirees to carefully take decisions on how the funds would be utilised.

She also advised them to be wary of Pension fraudsters who deceive retirees into believing that there are balances to be paid to them and make demands on them.

She reiterated the fact that in the not too distant future, all retirees will receive their entitlements.

“The fact that this Admin-

istration commenced and has been able to maintain the trend of paying terminal entitlements of retired employees monthly since it started in August, 2015 is highly commendable,” she said.

In appreciation, one of the retirees, Animashaun Taoheed, prayed for His Excellency, Akinwunmi Ambode for his magnanimity. He said, since the governor would not like to see those who had laboured for the state suffer, likewise, God will not make him and his team suffer.

He also appreciated the workforce in the Lagos State Pension Commission.

CIIN syllabus out soon, says exiting DG

W

orks on the syllabus of the Chartered Insurance Institute of Nigeria (CIIN) have been completed, the institute’s outgoing DirectorGeneral, Kola Ahmed, has said.

He disclosed this in Lagos, adding that the syllabus would

MONDAY, MAY 2, 2016 NEW TELEGRAPH

soon be made public.

The Director-General, who will be retiring in the next two months, also used the avenue to give account of his stewardship.

He called on operators to unite in moving the insurance industry forward, while also calling for

more support for the institute.

He said the institute was able to distribute the insurance textbook it published to aid the study of insurance in schools to 12 states, adding that information technology equipment were also given to some tertiary institutions.

000 insurance fees.

The PTA chairman said that it was agreed that the fees should be put on hold while the insurance company went round the 104 unity schools to sensitise the parents.

“The general reaction from schools even without us brainwashing then was that the fee was not acceptable by them; in some schools they even drove the insurance people out of the schools.

“Up until now, the meeting to review the outcome of the sensitisation has not been held.

“Funnily, the insurance policy has been passed by the ministry, saying it is now mandatory; and we said; even in law, insurance is not a compulsory thing.

“We also told them that Muslims do not have the permission of their religion to insure lives; they went behind our back and wrote circulars to their principals to carry out the directive and are still saying no.’’

He said that over 75 per cent of parents of children in unity abided by the directive not to pay while some parents of new intakes paid as they did not know what was on ground.

According to him, the association is open to dialogue as the new Minister of Education is willing to negotiate with it over the issue.

Ogbeide said that the association had invested over N500 million in unity colleges as a way of helping the Federal Government.

Nigeria, 20 others ripe for growth, says Swiss Re

A

new report by Europe reinsurance giant, Swiss Re, has listed Nigeria alongside 20 other countries as ripe for huge growth in insurance business.

The study, a sigma study from Swiss Re, highlights the markets that present some exciting opportunities for insurance companies.

The report looks at ‘frontier markets’, which have the right mix of conditions for insurance growth.

While the potential of China, India and Brazil are well known; the report looks at 21 other markets including Nigeria, Ecuador, Vietnam and Azerbaijan. These markets are typically those emerging countries with smallersized economies, lower income levels and insurance sectors in the early stages of development, but they are also expected to have strong GDP growth of be-

tween 5 and 10 per cent in the near term.

Insurance penetration in these frontiers is low at less than 1.5 per cent but for insurers who seize the opportunity there are potentially high rewards.

“Capturing the potential in frontier markets will require a long-term strategy. Nonetheless, this work shows that there is a real “early-mover” advantage to be gained for insurers who understand how to access and develop these markets,” says Swiss Re Chief Economist Kurl Kart. “The benefits will come once these markets reach the critical middleincome threshold when consumers and businesses start buying more insurance.”

Swiss Re says that early growth for these markets will come from life insurance and commercial lines, with personal lines developing later.

BUSINESS | Insurance

MONDAY MAY 9, 2016 NEW TELEGRAPH

31

PTAD nabs pension thieves in renewed surveillance PLEDGE The agency recently promised to pay the 33 per cent increase to pensioners and next of kins of deceased ones Stories by Sunday Ojeme

O

fficials of the Pension Transitional Arrangement Directorate (PTAD) last week arrested two men who attempted to defraud the agency.

The duo including one pension desk officer of the Nigerian Police Command, Nassarawa State, had presented themselves at the agency’s head office in Abuja as the next-of-kin to a pensioner.

PTAD Head of Corporate Communications, Mrs Amechi Theodora, said the two men came into the Directorate asking that their brother’s pension be paid to them, adding that the mastermind of the fraud was the civilian who works as a police pension desk officer of Nassarawa Police Command.

She said: “The police pension desk officer generated fake documents and recruited another man to act as a brother to a deceased pensioner. The recruit came into

our office and asked that he be paid his brother’s pension.”

“These are the kind of people that have made pension payment difficult or to run smoothly in the country. They pretend to be pensioners and next-of-kins just to perpetuate fraud.

“But PTAD is working hard to identify fake and genuine pensioners and this is why the Directorate was able to stop both men fake men in their tracks.

We have also embarked on a nationwide verification which is

still ongoing,” she added.

New Telegraph recalled that a few weeks ago, PTAD had assured pensioners of the payment of 33 per cent arrears and benefits to Next of Kins (NOKs) of deceased pensioners in the very near future.

The assurance came during a meeting between the management of PTAD and representatives of the National Union of Pensioners (NUP), National Association of Retired Paramilitary Officers (NARPO),

noted: “It is noteworthy that the Catholic Brothers United (CBU) has sustained the practice of community development activities that have been uplifting the Church and the entire community. The Annual Lecture is one of such programmes that is worthy of commendation.”

Anohu-Amazu said the proposed topic of the lecture harmonised with “our renewed efforts at ensuring pensions funds are channeled towards economic development through viable and safe investments. We therefore look forward to joining you at the annual lecture, as proposed.”

Commenting on the initiative, president of CBU, Emmanuel Uwukhor, said financing infrastructure projects using pension funds had been a major topical issue that has generated much controversies given the experience with the previous pension scheme.

F

Didem is Fin Insurance new MD/CEO tained Post Graduate Diploma in Management in 1999 from ATBU, Bauchi and Masters of Business Administration (General Management) from the same university. He is a 2010 graduate of Lagos Business School – Advance Management Programme (AMP 22).

He started his career from as Kano/Kaduna Branch Manager, Commercial Insurance

Uwukhor stated that it had become imperative to use the CBU platform to further clarify issues around such discussion as huge population of the Catholic community are subscribers to the Contributory Pensions Scheme (CPS) while others in the informal sector were itching to join the scheme.

He said: “What we want to achieve is to sensitise the teeming Catholic faith and also the general public on the need to understand the benefits of the CPS and how the initiative will lead to fruitful retirement.

“We know the family value system is collapsing and the average Nigerian is facing challenges and therefore early savings using this channel would provide them some relief at old age, so we owe the society the responsibility as enshrined in our Corporate Social Responsibility (CSR) to educate them on government policies that aims to better their lot.”

Kari urges risk managers to drive efficiency

s part of its public awareness campaign on investment of pension funds, the Director-General National Pension Commission (PenCom), Chinelo Anohu-Amazu, has accepted to be part of the National Lecture Series of Catholic Brothers United (CBU) scheduled for Lagos next month.

A statement by CBU said the lecture with the theme: “The Use of Pension Funds as a Catalyst for Economic Diversification” was considered apt as the country grapples with the challenges of acute infrastructure deficit needed to propel economic growth.

The lecture, which is in its 17th year in the series, aims at providing a national discourse on how the country can leverage on funds like the pension funds to accelerate economic development and growth.

In accepting to speak at the forum, the Director General in Insurance Plc has announced the appointment of Mr Polycarp Didem as its new Managing Director/CEO. His appointment took effect from May 1, 2016.

Didam was born on 21st December 1964 in Kaduna, and obtained a Diploma in Insurance in 1986 from Ahmadu Bello University, Zaria and a Higher Diploma in Business Management in 1998 from ATBU, Bauchi. He further ob-

sioners may experience in the course of complaint resolution.

She stressed that it was a process they have to undergo for things to be done correctly to enable PTAD pay the right persons.

She reiterated that PTAD was working hard to resolve all complaints and other issues affecting their members, adding that the agency’s doors were always open for the resolution of complaints and communication between PTAD, pensioners and other stakeholders.

L-R: Retail Advisor, Etisalat Nigeria, Mrs. Jennifer Onuoha; winner of Etisalat e-Top Up Blast Promo, Mr. Patrick Ejiofor and Lekki Experience Centre Manager, Etisalat Nigeria, Mr. Richard Ifediora, during the presentation of prizes to winners of the free one year N10,000 monthly airtime, at the Etisalat Lekki Experience Centre, Lagos.

CPS: PenCom extends campaign to Christian group

A

Association of Retired Police Officers of Nigeria (ARPON) and the Association of Public Service Retirees in Abuja.

According to Amechi, details of the 33 per cent arrears payment are to be agreed with the various pension groups before payment.

She said the unions’ representatives were reassured that the Federal Government recognised its obligation to pensioners, adding that the Directorate apologises for any delays pen-

Brokers where he was between 1988 – 1991. From 1991 – 1993 he was Manager (North East Area Office), Afribank Insurance Brokers Company. From 1993 – 2004 Mr. Didam was the Deputy Manager (Branch Manager, Kaduna) of Industrial & General Insurance Co. Ltd. He joined Mansard Insurance Plc (formerly Guaranty Trust Assurance Plc) in 2005 as Senior Manager/Regional Manager

A

s the Risk Managers Society of Nigeria (RIMSON) inducts more members into its fold, the Commissioner for Insurance Mohammed Kari, has advised them to use their important position in the market to encourage changes in insurance buying process.

He also charged them to be transparent and efficient in all their endeavours in the market.

RIMSON last week inducted 14 fellows and 54 associate members as part of its 2016 Risk Management Conference and Awards Ceremony in Lagos.

Speaking on the induction, the President of Society, Jacob Adeosun, said the membership drive embarked by the society would enhance professionalism in risk management as well broaden the scope of practice in the country.

and rose to the position of Assistant General Manager – Public Sector in 2009 and was appointed as Managing Director/CEO of Guinea Insurance Plc in 2013 a position he held until this appointment.

He is a member of Nigeria Institute of Management, National Institute of Marketing of Nigeria and Chartered Insurance Institute of Nigeria.

He is married.

He noted that the society is committed to encouraging the society and research into risk management in Nigerian tertiary institutions.

The Managing Director, Enterprise Trust Insurers Brokers Limited, Paschal Egerue, who delivered the theme paper entitled: Risk Management as Catalyst for Economic Growth,” called for entrenchment of effective risk management in every sector of the economy.

He urged insurance operators to develop products that would help mitigate risks in the country.

Some of the new fellows are Commissioner for Insurance Mohammmed Kari; Managing Director Fbninsurance Plc, Val Ojumah; Group Managing Director AIICO Insurance Plc, Edwin Igbiti, former president of RIMSON, Mrs Efiom-Ekaha and President of RIMSON, Jacob Adeosun.

It would be recalled that Cornerstone Insurance last year acquired 96 Per cent stake of Fin Insurance after shareholders gave the board the nod to do so.

With the consolidation of Fin Insurance into the group financial statements, Cornerstone Insurance shareholders fund is expected to rise to N12 billion from N7.8billion, which will place the company as one of the biggest players in the insurance industry.

32

BUSINESS | Financial Market News

MONDAY, MAY 9, 2016 NEW TELEGRAPH

FMDQ Daily Quotations List

6-May-16

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. We do not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information.

Bonds FGN Bonds

Price

Rating/Agency

Issuer

NA

NA

Description 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 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 ^12.50 22-JAN-2026 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034 ^12.40 18-MAR-2036

Issue Date

Coupon (%)

Outstanding Value (₦’bn)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 27-Jan-12 14-Mar-14 22-Jan-16 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14 18-Mar-16

13.05 15.10 9.85 9.35 10.70 16.00 7.00 15.54 16.39 14.20 12.50 15.00 12.49 8.50 10.00 12.1493 12.4000

581.39 480.13 20.00 100.00 300.00 351.30 233.90 576.93 605.31 719.99 266.02 75.00 150.00 200.00 591.57 1075.92 80.00

16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 27-Jan-22 14-Mar-24 22-Jan-26 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34 18-Mar-36

0.28 0.98 1.22 1.32 2.06 3.15 3.46 3.77 5.73 7.85 9.71 12.56 13.04 13.54 14.21 18.20 19.86

8.22 11.48 11.72 11.77 12.17 12.74 12.89 13.03 13.20 13.29 13.21 13.43 13.47 13.50 13.55 13.86 13.78

7.69 11.32 11.59 11.64 12.08 12.63 12.77 12.93 13.13 13.23 13.15 13.38 13.41 13.44 13.50 13.81 13.73

101.26 103.24 97.88 97.09 97.37 108.18 83.95 107.24 112.47 104.29 96.12 109.39 94.06 69.26 77.80 88.70 90.66

101.41 103.39 98.03 97.24 97.52 108.48 84.25 107.54 112.77 104.59 96.42 109.69 94.36 69.56 78.10 89.00 90.96

TOTAL OUTSTANDING VALUE

6,407.46

TOTAL MARKET CAPITALISATION

6,241.27

Rating/Agency

Description

Issuer

6362.457269

Issue Date

Coupon (%)

03-Apr-12

17.25

#

Outstanding Value (₦’bn)

Maturity Date

Avg. Life/TTM (Yrs)

Risk Premium (%)

Valuation Yield (%)

Modelled Price

1.20

03-Apr-17

0.48

2.94

12.03

102.39

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 27-Nov-20 31-Dec-20 31-Dec-20 06-Jan-21 09-Dec-21 16-Feb-22 27-Feb-22 30-Mar-22 31-Mar-22 27-May-22

0.15 0.15 0.95 0.67 1.65 1.47 1.48 1.44 1.45 1.63 2.06 3.55 2.02 4.56 4.65 2.69 2.71 3.97 3.50 3.53 4.03 6.46 3.62

4.46 3.48 1.00 5.71 2.39 1.00 1.00 3.82 3.56 3.82 2.02 2.01 1.00 1.30 3.76 2.53 1.00 1.52 4.01 1.00 2.52 1.79 3.04

10.44 9.46 12.37 15.72 14.34 12.85 12.86 15.66 15.40 15.76 14.18 14.93 13.14 14.40 16.87 15.03 13.51 14.32 16.91 13.91 15.47 15.00 15.98

100.45 100.82 97.91 98.75 99.46 101.43 101.44 98.56 98.26 99.58 102.17 98.83 102.70 97.05 94.08 98.86 103.09 102.82 98.91 106.65 105.20 107.61 102.54

29-Sep-16 25-Oct-16 08-Dec-16 19-Apr-17 06-Jul-17 30-Sep-17 30-Nov-17 09-Apr-18 09-Sep-18 09-Sep-18 30-Sep-18 18-Oct-18 17-Feb-19 01-Apr-19 06-Nov-20 14-Nov-20 04-Dec-20 20-Nov-21 30-Dec-21 13-May-22 26-Oct-22 30-Sep-24 30-Sep-24 29-Jul-30

0.40 0.47 0.59 0.95 1.17 1.40 0.85 1.18 1.35 1.35 2.40 1.45 1.53 1.65 2.25 4.52 3.02 5.54 5.65 6.02 4.19 8.40 8.40 9.53

1.00 1.34 1.00 5.49 5.25 1.88 1.88 3.15 6.35 1.00 1.17 4.42 6.11 3.28 4.47 1.00 3.55 2.51 1.00 1.00 2.77 1.00 1.00 1.00

9.72 10.37 10.59 16.86 16.94 13.70 12.77 14.85 18.14 12.79 13.52 16.26 18.00 15.23 16.74 14.10 16.23 15.69 14.19 14.22 15.84 14.27 14.27 14.22

101.20 101.72 102.99 99.67 99.47 99.11 104.84 101.14 99.73 103.70 100.93 99.33 99.94 101.01 97.05 103.76 98.32 94.76 108.52 108.95 100.45 109.66 95.06 103.33

10-Oct-20

2.55

3.37

15.79

97.92

Agency Bonds Nil

17.25 FMB II 03-APR-2017

FMBN

TOTAL OUTSTANDING VALUE

1.20

TOTAL MARKET CAPITALISATION

1.23

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

*BENUE *IMO LAGOS *BAYELSA EDO *DELTA *NIGER *EKITI *NIGER *ONDO *GOMBE LAGOS *OSUN LAGOS KOGI *EKITI *NASARAWA *BAUCHI *OYO *BENUE *PLATEAU KOGI *CROSS RIVER

30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 31-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 27-Nov-13 31-Dec-13 31-Dec-13 06-Jan-14 09-Dec-14 17-Feb-15 27-Feb-15 30-Mar-15 01-Apr-15 27-May-15

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 13.50 LAGOS 27-NOV-2020 15.00 KOGI 31-DEC-2020 14.50 EKITI II 31-DEC-2020 15.00 NASARAWA 06-JAN-2021 15.50 BAUCHI 9-DEC-2021 16.50 OYO 16-FEB-2022 16.50 BENUE 27-FEB-2022 17.50 PLATEAU 30-MAR-2022 17.00 KOGI II 31-MAR-2022 17.00 CROSS RIVER 27-MAY-2022

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 13.50 15.00 14.50 15.00 15.50 16.50 16.50 17.50 17.00 17.00

1.30 2.05 57.00 16.45 25.00 23.44 4.22 10.98 8.14 21.68 12.55 80.00 21.65 87.50 5.00 4.03 4.04 14.37 4.39 4.53 27.10 3.00 7.68

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

446.12 444.23

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

NAHCO FSDH ***LCRM UBA *C & I LEASING *DANA#{r} *TOWER# *TOWER# UBA *LA CASERA *CHELLARAMS# *DANA#{r} *FCMB NAHCO *TRANSCORP HOTELS PLC *FCMB UBA FIDELITY *TRANSCORP HOTELS PLC STANBIC IBTC STANBIC IBTC *NMRC

13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 30-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.00 FCMB 6-NOV-2020 15.25 NAHCO II 14-NOV-2020 15.50 TRANSCORP 4-DEC-2020 14.25 FCMB I 20-NOV-2021 16.45 UBA I 30-DEC-2021 16.48 FIDELITY 13-MAY-2022 16.00 TRANSCORP 26-OCT-2022 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024 14.90 NMRC 29-JUL-2030

29-Sep-11 25-Oct-13 09-Dec-11 20-Apr-12 06-Jul-12 30-Sep-10 30-Nov-12 09-Apr-11 09-Sep-11 09-Sep-11 30-Sep-11 18-Oct-13 17-Feb-12 01-Apr-14 06-Nov-15 14-Nov-13 04-Dec-15 20-Nov-14 30-Dec-14 13-May-15 26-Oct-15 30-Sep-14 30-Sep-14 29-Jul-15

13.00 14.25 0.00/16.00 0.00/16.50 0.00/16.50 13.00 18.00 16.00 18.00 16.00 14.00 15.75 18.00 16.00 15.00 15.25 15.50 14.25 16.45 16.48 16.00 16.29 13.25 14.90

15.00 5.53 112.22 116.70 66.49 20.00 0.46 3.60 1.82 0.50 35.00 1.50 0.27 4.50 23.19 2.05 9.76 26.00 30.50 30.00 10.00 0.10 15.44 7.90

TOTAL OUTSTANDING VALUE

538.53

TOTAL MARKET CAPITALISATION

544.38

Sukuk BBB-/Agusto

10-Oct-13

14.75 OSUN II 10-OCT-2020

*OSUN

14.75

9.40

TOTAL OUTSTANDING VALUE

9.40

TOTAL MARKET CAPITALISATION

9.21

Supranational Bond AAA/S&P

IFC

10.20 IFC 11-FEB-2018

11-Feb-13

10.20

12.00

11-Feb-18

1.77

1.00

11.26

98.31

Aaa/Moody's; AAA/S&P

*AfDB

11.25 AFDB 1-FEB-2021

10-Jul-14

11.25

12.95

01-Feb-21

2.99

1.00

12.29

97.49

Bid Price

Offer Price

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

24.95 24.42 Description

Issue Date

Coupon (%)

Outstanding Value ($’mm)

Maturity Date

Bid Yield (%)

Offer Yield (%)

6.75 JAN 28, 2021

07-Oct-11

6.75

500.00

28-Jan-21

7.50

7.27

97.06

97.95

5.13 JUL 12, 2018

12-Jul-13

5.13

500.00

12-Jul-18

5.65

5.24

98.93

99.76

6.38 JUL 12, 2023

12-Jul-13

6.38

500.00

12-Jul-23

7.75

7.57

92.52

93.45

Issuer

FGN Eurobonds

Prices & Yields

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

FGN

BB-/Fitch; BB-/S&P

TOTAL OUTSTANDING VALUE

1,500.00

TOTAL MARKET CAPITALISATION

1,442.51

Corporate Eurobonds B+/Fitch; B+/S&P

GTBANK PLC I

7.50 MAY 19, 2016

19-May-11

7.50

373.41

19-May-16

30.11

-9.28

99.48

100.38

B+/S&P

ACCESS BANK PLC

7.25 JUL 25, 2017

25-Jul-12

7.25

350.00

25-Jul-17

8.11

7.13

99.01

100.12

B/Fitch; B/S&P

FIDELITY BANK PLC

6.88 MAY 09, 2018

09-May-13

6.88

300.00

02-May-18

21.11

19.56

77.75

B+/Fitch; B+/S&P

GTBANK PLC

6.00 NOV 08, 2018

08-Nov-13

6.00

400.00

08-Nov-18

7.51

7.51

96.63

96.63

B+/Fitch; BB-/S&P

ZENITH BANK PLC

6.25 APR 22, 2019

22-Apr-14

6.25

500.00

22-Apr-19

8.61

8.61

93.97

93.97

B/Fitch; B/S&P

DIAMOND BANK PLC

8.75 May 21, 2019

21-May-14

8.75

200.00

21-May-19

17.52

16.53

80.01

82.01

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

FIRST BANK PLC ACCESS BANK PLC II FIRST BANK LTD

8.25 AUG 07, 2020 9.25/6M USD LIBOR+7.677 JUN 24, 2021 8.00/2Y USD SWAP+6.488 JUL 23 2021

07-Aug-13 24-Jun-14 23-Jul-14

8.25 9.25 8.00

300.00 400.00 450.00

07-Aug-20 24-Jun-21 23-Jul-21

13.68 13.85 14.52

13.68 13.85 14.52

82.25 83.00 76.00

82.25 83.00 76.00

B-/S&P

ECOBANK NIG. LTD

8.75 AUG 14, 2021

14-Aug-14

8.75

250.00

14-Aug-21

12.23

11.76

84.88

86.63

Outstanding Value (₦’bn)

Maturity Date

DTM

# Risk Premium (%)

Valuation Yield (%)

Discount Rate (%)

2.77

29-Jul-16

84

6.18

13.84

13.41

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION Rating/Agency

79.85

3,523.41 3,100.57 Description

Issuer

Issue Date

Yield @ Issue (%)

04-Nov-15

13.75

Commercial Papers Nil

GUINNESS NIGERIA

GUINNESS CP III 29-JUL-16

TOTAL OUTSTANDING VALUE

2.77

**TREASURY BILLS^ DTM 13 20 27 34 41 48 55 69 76 83

Money Market

FIXINGS Maturity 19-May-16 26-May-16 2-Jun-16 9-Jun-16 16-Jun-16 23-Jun-16 30-Jun-16 14-Jul-16 21-Jul-16 28-Jul-16

Bid Discount (%) 0.28 2.50 4.23 4.28 5.31 4.45 4.67 5.81 6.10 6.76

Offer Discount (%) 0.03 2.25 3.98 4.03 5.06 4.20 4.42 5.56 5.85 6.51

Bid Yield (%) 0.28 2.50 4.24 4.30 5.34 4.48 4.70 5.87 6.18 6.86

NIBOR Tenor O/N 1M 3M 6M

Rate (%) 4.1817 8.2335 10.3164 12.0010

NITTY

Tenor

Rate (%)

OBB

3.58

O/N

4.08

Tenor Call 1M 3M 6M

REPO

Rate (%) 4.27 4.83 5.67 6.47

Foreign Exchange (Spot & Forwards) Tenor

Bid ($/N)

Offer ($/N)

Spot 7D 14D 1M 2M 3M 6M 1Y

197.33 199.07 199.66 201.00 201.51 206.27 214.72 221.39

197.43 199.58 199.98 201.32 201.85 206.95 215.77 224.17

FMDQ Daily Quotations List

6-May-16

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”). The Information does not constitute professional, financial or investment advice. We attempt to ensure the Information is accurate; however, the Information is provided “AS IS” and on an “AS AVAILABLE” basis and may not be accurate or up to date. We do not guarantee the accuracy, timeliness, completeness, performance or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information.

Bonds FGN Bonds

Price

Rating/Agency

Issuer

MONDAY MAY 9, 2016 NEW TELEGRAPH NA

NA

BULLISH Trading in the top three equities accounted for TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION 359.455 million shares worth N1.086 billion Rating/Agency

Issuer

Agency Bonds Nil

FMBN

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

Sub-Nationalby Bonds Stories Chris Ugwu

I

BBB+/Agusto 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 BBB+/Agusto; A-/GCR Aa-/Agusto; AA-/GCR BBB-/Agusto; BBB+/GCR† Aa-/Agusto; AA-/GCR Bbb+/Agusto; BBB+/DataPro A/Agusto‡ A-/GCR A-/Agusto A-/Agusto Bbb-/Agusto Bbb+/Agusto Bbb+/Agusto A-/GCR

*BENUE

*IMO nvestors in the companies LAGOS *BAYELSA quoted on the floor of the EDO *DELTA Nigerian Stock Exchange *NIGER *EKITI (NSE) got a respite last *NIGER week, as the two-day *ONDO gains *GOMBE recorded by the local LAGOS burse *OSUN closed the week on LAGOS the green KOGI zone. *EKITI *NASARAWA The NSE All-Share*BAUCHI Index and *OYO Market Capitalisation appreci*BENUE ated by 2.55 per cent to close the *PLATEAU KOGI *CROSS RIVER

Description 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 ^15.54 13-FEB-2020 ^16.39 27-JAN-2022 ^14.20 14-MAR-2024 ^12.50 22-JAN-2026 15.00 28-NOV-2028 12.49 22-MAY-2029 8.50 20-NOV-2029 ^10.00 23-JUL-2030 ^12.1493 18-JUL-2034 ^12.40 18-MAR-2036

Issue Date

Coupon (%)

Outstanding Value (₦’bn)

Maturity Date

TTM (Yrs)

Bid Yield (%)

Offer Yield (%)

Bid Price

Offer Price

16-Aug-13 27-Apr-12 27-Jul-07 31-Aug-07 30-May-08 29-Jun-12 23-Oct-09 13-Feb-15 27-Jan-12 14-Mar-14 22-Jan-16 28-Nov-08 22-May-09 20-Nov-09 23-Jul-10 18-Jul-14 18-Mar-16

13.05 15.10 9.85 9.35 10.70 16.00 7.00 15.54 16.39 14.20 12.50 15.00 12.49 8.50 10.00 12.1493 12.4000

581.39 480.13 20.00 100.00 300.00 351.30 233.90 576.93 605.31 719.99 266.02 75.00 150.00 200.00 591.57 1075.92 80.00

16-Aug-16 27-Apr-17 27-Jul-17 31-Aug-17 30-May-18 29-Jun-19 23-Oct-19 13-Feb-20 27-Jan-22 14-Mar-24 22-Jan-26 28-Nov-28 22-May-29 20-Nov-29 23-Jul-30 18-Jul-34 18-Mar-36

0.28 0.98 1.22 1.32 2.06 3.15 3.46 3.77 5.73 7.85 9.71 12.56 13.04 13.54 14.21 18.20 19.86

8.22 11.48 11.72 11.77 12.17 12.74 12.89 13.03 13.20 13.29 13.21 13.43 13.47 13.50 13.55 13.86 13.78

7.69 11.32 11.59 11.64 12.08 12.63 12.77 12.93 13.13 13.23 13.15 13.38 13.41 13.44 13.50 13.81 13.73

101.26 103.24 97.88 97.09 97.37 108.18 83.95 107.24 112.47 104.29 96.12 109.39 94.06 69.26 77.80 88.70 90.66

101.41 103.39 98.03 97.24 97.52 108.48 84.25 107.54 112.77 104.59 96.42 109.69 94.36 69.56 78.10 89.00 90.96

week at 25,701.60 and N8.841 trillion respectively.

Similarly, all other Indices Description finished higher during the 17.25 with FMB II 03-APR-2017 week, the exception of the NSE Insurance Index, that declined by 0.78 per cent.

It14.00 was four-day trading BENUEa 30-JUN-2016 15.50 IMO 30-JUN-2016 week, the Federal Govern10.00as LAGOS 19-APR-2017 13.75 BAYELSA 30-JUN-2017 ment of Nigeria declared Mon14.00 EDO 31-DEC-2017 14.00 DELTA day 2nd May30-SEP-2018 , 2016 as Public Holi14.00 NIGER II 4-OCT-2018 EKITI 09-DEC-2018 day 14.50 to mark the 2016 Workers’ 14.00 NIGER III 12-DEC-2018 Day 15.50 Celebration.

ONDO 14-FEB-2019 15.50 GOMBE 02-OCT-2019 Consequently , a turnover of 14.50 LAGOS 22-NOV-2019 14.75 OSUN 12-DEC-2019 910.659 million shares worth 13.50 LAGOS 27-NOV-2020 15.00 KOGI 31-DEC-2020 N6.409 billion in 15,023 deals 14.50 EKITI II 31-DEC-2020 NASARAWA 06-JAN-2021 were15.00 traded last week by inves15.50 BAUCHI 9-DEC-2021 OYO 16-FEB-2022 tors 16.50 on the floor of the Exchange 16.50 BENUE 27-FEB-2022 in contrast to30-MAR-2022 a total of 1.210 bil17.50 PLATEAU

6,407.46 lion shares valued at N7.115 bil6,241.27 lion that exchanged hands the previous week in 15,973Coupon deals.

Issue Date (%) The Financial Services In03-Apr-12 17.25 dustry (measured by volume) led the activity chart with 757.354 million shares valued at N3.180 billion 8,853 30-Jun-11traded in 14.00 15.50 deals; thus 30-Jun-09 contributing10.00 83.17 19-Apr-10 30-Jun-10 13.75 per cent and 49.62 per cent to 31-Dec-10 14.00 30-Sep-11 14.00 the total equity turnover vol04-Oct-11 14.00 09-Dec-11 14.50 ume and value respectively .

12-Dec-13 14.00 The Consumer 14-Feb-12 Goods Indus15.50 02-Oct-12 15.50 try followed22-Nov-12 with 46.972 million 14.50 12-Dec-12 14.75 shares worth N2.263 billion 27-Nov-13 13.50 in 31-Dec-13 15.00 2,636 deals. The third place was 31-Dec-13 14.50 06-Jan-14 15.00 occupied by the Conglomer09-Dec-14 15.50 17-Feb-15 16.50 ates Industry with a turnover 27-Feb-15 30-Mar-15 01-Apr-15 27-May-15

17.00 KOGI II 31-MAR-2022 17.00 CROSS RIVER 27-MAY-2022

***LCRM

#

#

#

#{r}

27-Feb-22 30-Mar-22 31-Mar-22 27-May-22

3.53 4.03 6.46 3.62

#

1.00 2.52 1.79 3.04

13.91 15.47 15.00 15.98

106.65 105.20 107.61 102.54

hareholders of13.00 Fidelity 15.00 loan re-pricing and101.20 balance concerns, 29-Sep-16 which culminated 29-Sep-11 0.40 1.00 9.72 25-Oct-13 14.25 5.53 25-Oct-16 0.47 1.34 10.37 101.72 Bank Plc have0.00/16.00 approved sheet optimisation towards in negative earnings0.59 head- 1.00 09-Dec-11 112.22 08-Dec-16 10.59 102.99 20-Apr-12 0.00/16.50 19-Apr-17 0.95 16.86 99.67 payment of N4.6 billion 116.70 winds in the banking industry . 5.49 higher yield sectors of the 06-Jul-12 0.00/16.50 66.49 06-Jul-17 1.17 5.25 16.94 99.47 30-Sep-10 13.00 20.00 30-Sep-17 1.40 1.88 13.70 99.11 dividends declared by the Even with the prevalent economy ,” he said.

30-Nov-12 18.00 0.46 30-Nov-17 0.85 1.88 12.77 104.84 16.00of 1.18 said 3.15 He 14.85 101.14 board 09-Apr-11 of directors the 3.60 economic 09-Apr-18 conditions, he explained that the 09-Sep-11 18.00 1.82 09-Sep-18 1.35 6.35 18.14 99.73 bank for the financial year 0.50 the performance of the lender improved the103.70 earning 09-Sep-11 16.00 09-Sep-18 1.35bank 1.00 12.79 14.00 35.00 30-Sep-18 2.40 1.17 13.52 100.93 ended 30-Sep-11 December 31,15.75 2015. showed resilience to these capacity16.26 of its balance 18-Oct-13 1.50 18-Oct-18 1.45 chal4.42 99.33 sheet 17-Feb-12 18.00 0.27 17-Feb-19 1.53 6.11 18.00 99.94 The01-Apr-14 dividend, which transeven in the face of decline in lenges.

“We are able to achieve 16.00 4.50 01-Apr-19 1.65 3.28 15.23 101.01 06-Nov-15 06-Nov-20 2.25 16.74 precipitated 97.05 fee income by a lates to 16 kobo per15.00 share is 23.19 this through a sustained in- 4.47 14-Nov-13 15.25 2.05 14-Nov-20 4.52 1.00 14.10 103.76 N10.0 billion reduction payable to shareholders come stream built on qualita04-Dec-15 15.50 whose 9.76 04-Dec-20 3.02 3.55 16.23 98.32 in its 14.25 26.00 20-Nov-21 5.54 2.51 15.69 94.76 foreign exchange income. tive services, innovative prodnames20-Nov-14 appeared on the bank’s 30-Dec-14 16.45 30.50 30-Dec-21 5.65 1.00 14.19 108.52 13-May-15 16.48 30.00 13-May-22 6.02 1.00 14.22 108.95 “We continued to100.45 increase Register of Members16.00 as at the 10.00 ucts and a clear understanding 26-Oct-15 26-Oct-22 4.19 2.77 15.84 30-Sep-24 needs 8.40 109.66faster close of30-Sep-14 business on16.29 April 18 - 0.10 of the varying of our 1.00 yields on14.27 earning assets 30-Sep-14 13.25 15.44 30-Sep-24 8.40 1.00 14.27 95.06 22, 2016,29-Jul-15 as earlier proposed by 7.90 customers”, he explained. than the14.22 growth in103.33 funding 14.90 29-Jul-30 9.53 1.00 the directors of the bank and 538.53The Chairman of the costs, which improved our Net 544.38 subject to Withholding Tax at bank, Chief Christopher Interest Margin (NIM) to 6.9 the appropriate tax.

Ezeh noted that the Bank per cent in 2015,” Ezeh noted.

10-Oct-13 9.40 2.55 97.92 Speaking at the 14.75 AGM in 9.40 performed10-Oct-20 relatively well in 3.37 This 15.79 development, the spite of the economic whirl- chairman added, is indeed Lagos, the Acting Managing 9.21 Director/Chief Executive Of- wind occasioned by the free- indicative of the bank’s con11-Feb-13 11.26 on balance 98.31 sheet ficer, Fidelity Bank10.20 Plc, Mo- 12.00 fall in the11-Feb-18 global oil 1.77 prices 1.00 tinual focus 10-Jul-14 11.25 12.95 01-Feb-21 2.99 1.00 12.29 97.49 and attendant capital con- optimisation, rebalancing hammed Balarabe, said that 24.95 the bank’s 2015 FY perfor- 24.42 trols of the CBN. of its loan portfolio in conOutstanding Ezeh Value said the tough busi-Offer Yield manceIssue reflects the Coupon disciplined sonance with its Offer mediumBid Yield (%) (%) Bid Price Price Date (%) Maturity Date ($’mm) execution of the manage- ness environment reflected term strategy and increased Prices & Yields ment’s07-Oct-11 medium-term6.75 strategy 500.00 more on the fees and7.50com- 7.27 growth in retail deposit base.

28-Jan-21 97.06 97.95 and the12-Jul-13 resilience of 5.13 evolving 500.00 mission income of the5.65 Bank, 5.24 On the bank’s 99.76 outlook 12-Jul-18 98.93 for the 2016 Financial Year, business models despite the 500.00 which dropped by 20.8 per 7.57 12-Jul-13 6.38 12-Jul-23 7.75 92.52 93.45 cent to N23.3 billion from Balarabe noted that the bank extremely challenging busi- 1,500.00 ness environment in 2015.

N29.4 billion due to regula- will focus on redesigning its 1,442.51 He pointed out that the fi- tory restrictions on foreign systems and processes to en7.50 30.11 -9.28 99.48 100.38 nancial19-May-11 year under review was 373.41 exchange 19-May-16 transactions. hance service delivery , deepen 25-Jul-12 25-Jul-17 8.11 7.13 99.01 100.12 challenging due to a7.25 number 350.00 “Despite the drop 21.11 in fees 19.56 its cost optimisation initiative 09-May-13 6.88 300.00 02-May-18 77.75 79.85 08-Nov-13the difficult 6.00 400.00 08-Nov-18 7.51 7.51 96.63 96.63 of factors; oper- 500.00 and commission income, to reduce operating expenses 22-Apr-14 6.25 22-Apr-19 8.61 8.61 93.97 93.97 PAT grew21-May-19 by 0.8 per17.52cent, 16.53 ating environment, the tight 200.00 and cost-to-serve, while en21-May-14 8.75 80.01 82.01 07-Aug-13 8.25 300.00 07-Aug-20 13.68 13.68 82.25 82.25 monetary stance of the Cenwhich shows the resilience hancing its overall risk mon24-Jun-14 9.25 400.00 24-Jun-21 13.85 13.85 83.00 83.00 23-Jul-14 8.00 450.00 23-Jul-21 76.00 tral Bank of Nigeria (CBN), 250.00 of the earning base 14.52 of the 14.52 itoring capacities to76.00 ensure 14-Aug-14 8.75 14-Aug-21 12.23 11.76 84.88 86.63 bank. Net interest income both internal and external implementation of the Trea- 3,523.41 sury Single Account (TSA) 3,100.57 increased by 24.7 per cent to risks are identified and mitiRisk and currency devaluation gatedValuation before theyDiscount crystalise.

N60.9 Outstanding Valuebillion on account of Yield DTM Issue Date Yield @ Issue (%) Maturity Date Rate (%) Premium

13.00 NAHCO 29-SEP-2016 14.25 FSDH 25-OCT-2016 0.00/16.00 LCRM 08-DEC-2016 0.00/16.50 LCRM II 19-APR-2017 0.00/16.50 LCRM III 06-JUL-2017 13.00 UBA 30-SEP-2017 18.00 C&I LEASING 30-NOV-2017 MPR+7.00 DANA 9-APR-2018 MPR+7.00 TOWER 9-SEP-2018 MPR+5.25 TOWER 9-SEP-2018 14.00 UBA II 30-SEP-2018 15.75 LA CASERA 18-OCT-2018 MPR+5.00 CHELLARAMS II 17-FEB-2019 16.00 DANA II 1-APR-2019 15.00 FCMB 6-NOV-2020 15.25 NAHCO II 14-NOV-2020 15.50 TRANSCORP 4-DEC-2020 14.25 FCMB I 20-NOV-2021 16.45 UBA I 30-DEC-2021 16.48 FIDELITY 13-MAY-2022 16.00 TRANSCORP 26-OCT-2022 182D T.bills+1.20 STANBIC IA 30-SEP-2024 13.25 STANBIC IB 30-SEP-2024 14.90 NMRC 29-JUL-2030

UBA Plc, Mr. Olaotan Soyinka, has overeign Trust Insurance *C & I LEASING *DANA Plc has posted 20 per cent stressed the need for insurance *TOWER growth in net *TOWER earnings practitioners at top manageUBA for the first quarter ended ment level, to give marketing *LA CASERA *CHELLARAMS March 31, 2016. communications a pride of *DANA Key extracts of the*FCMB accounts place in their efforts to proNAHCO statement for the first quarter mote and entrench insurance *TRANSCORP HOTELS PLC at the Nigerian Stock*FCMB Exchange culture among Nigerians.

UBA FIDELITY (NSE) showed profit*TRANSCORP after tax Soyinka, who stated this at a HOTELS PLC STANBIC IBTC of N215.507 million as against marketing parley with members STANBIC IBTC N179.574 million recorded the of the sales team of his company *NMRC TOTAL OUTSTANDING VALUE previous year, accounting for a in Lagos, said the importance of TOTAL MARKET CAPITALISATION growth of 20 per cent. marketing communication, in Sukuk Profit before tax stood at promoting insurance in Nige14.75 OSUN II 10-OCT-2020 BBB-/Agusto N240.285 million from*OSUN N205.277 ria, cannot be undermined and TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION million reported in 2015, repre- should be given a place of priority senting a growth of 17 per cent. by practitioners especially those Supranational Bond 10.20 IFC 11-FEB-2018 AAA/S&P decision-making levels.

However, gross IFC premium at the 11.25 AFDB 1-FEB-2021 Aaa/Moody's; AAA/S&P *AfDB written dropped by four per This he said, will help in TOTAL OUTSTANDING VALUE TOTAL MARKET cent from CAPITALISATION N2.420 billion in winning more customers for 2015 asRating/Agency against N2.330 billion the industry.

Description Issuer He said that the industry is during the year under review.

FGN Eurobonds The insurer reported 97 per capable of generating figures 6.75 JAN 28, 2021 BB-/Fitch; B+/S&P cent growth in profit after tax in trillions but insisted that BB-/Fitch; FGN 5.13 JUL 12, 2018 BB-/S&P when during the full year ended 2015, this can only happen BB-/Fitch; 6.38 JUL 12, 2023 BB-/S&P from N294.943 million in 2014 practitioners, collectively apTOTAL OUTSTANDING VALUE to N582.209 million in 2015. proach the business from the TOTAL MARKET CAPITALISATION Profit before tax stood at standpoint of each-one-tell-one Corporate Eurobonds MAY 19, 2016 B+/Fitch; B+/S&P million during GTBANK PLC I N454.846 the in spreading the7.50 gospel and 7.25 JUL 25, 2017 B+/S&P BANK PLC full year 2015, fromACCESS N326.021 which is what marketing com6.88 MAY 09, 2018 B/Fitch; B/S&P FIDELITY BANK PLC NOV 08, 2018 B+/Fitch; B+/S&P GTBANK PLC munications is all6.00 about. million a year earlier.

6.25 APR 22, 2019 B+/Fitch; BB-/S&P ZENITH BANK PLC Gross “We can never 8.75 goMay wrong 21, 2019 in B/Fitch; B/S&P premium written DIAMOND howBANK PLC 8.25 AUG 07, 2020 B-/Fitch; B/S&P FIRST BANK PLC ever, declined marginally by investing in marketing commu9.25/6M USD LIBOR+7.677 JUN 24, 2021 B-/Fitch; B/S&P ACCESS BANK PLC II 8.00/2Y USD SWAP+6.488 JUL 23 2021 B-/Fitch; B/S&P FIRST BANK LTD two per cent from N7.286 billion nications either at individual 8.75 AUG 14, 2021 B-/S&P ECOBANK NIG. LTD in 2014 to N7.132VALUE billion in 2015. companies’ level or as an inTOTAL OUTSTANDING TOTAL MARKET CAPITALISATION Managing Director/CEO dustry. The time to act is now; a stitch in time saves nine. of Sovereign Trust Insurance Description Rating/Agency Issuer #{r}

4.53 27.10 3.00 7.68

while 124 equities remained unchanged higher than 121 equiRisk Yield ties of Valuation the (%) previous week.Price Modelled Premium (%) Also traded last week were a 2.94 12.03units of Exchange 102.39 total of 6,837 Traded Products (ETPs) valued at N16.316 million executed in 25 deals, compared with a total of 4.46 10.44 100.45 3.48 9.46 100.82 12,490 units12.37 valued at N503,694.85 1.00 97.91 5.71 15.72 transacted last week in98.75 28 deals.

2.39 14.34 99.46 1.00 12.85 101.43 A total of 23,903 101.44 units of 1.00 12.86 3.82 15.66 98.56 Federal Government Bonds 3.56 15.40 98.26 valued at N28.385 million 3.82 15.76 99.58 were 2.02 14.18 102.17 traded in seven deals compared 2.01 14.93 98.83 1.00 13.14 102.70 to a total of 8,990 units of Fed1.30 14.40 97.05 3.76 16.87 94.08 eral Government valued at N 2.53 15.03 98.86 1.00 13.51 103.09 N10.108 million transacted the 1.52 14.32 102.82 4.01 16.91 previous week in four 98.91 deals.

6362.457269

446.12 444.23

S

Corporate Bonds

NAHCO FSDH

16.50 17.50 17.00 17.00

of 40.009 million shares worth N69.233 million in 498 deals.

Outstanding Value Avg. Life/TTM Trading inMaturity the top Date three equi(Yrs) (₦’bn) ties namely – FBN Holdings Plc, 1.20 03-Apr-17 United Bank For Africa Plc0.48and 1.20 Fidelity Bank Plc.(measured by 1.23 volume) accounted for 359.455 million shares worth N1.086 1.30 30-Jun-16 0.15 2.05 30-Jun-16 0.15 billion deals, contribut57.00 in 2,797 19-Apr-17 0.95 30-Jun-17 0.67 ing16.45 39.47 per cent and 16.94 per 25.00 31-Dec-17 1.65 23.44 30-Sep-18 1.47 cent to the total equity turnover 4.22 04-Oct-18 1.48 10.98 09-Dec-18 1.44 volume and value respectively .

8.14 12-Dec-18 1.45 Forty equities appreciated 21.68 14-Feb-19 1.63 in 12.55 02-Oct-19 2.06 price week, higher 80.00 during the 22-Nov-19 3.55 21.65 12-Dec-19 2.02 than 33 equities of the previous 87.50 27-Nov-20 4.56 5.00 31-Dec-20 4.65 week.

Twenty-five equities de4.03 31-Dec-20 2.69 4.04 06-Jan-21 2.71 preciated in price, lower than 35 14.37 09-Dec-21 3.97 4.39 16-Feb-22 3.50 equities of the previous week,

Shareholders endorse Fidelity Bank’s N4.6bn dividend

Sovereign Trust reports 20% growth in Q12016 PAT

S

33

Benchmark index rises by 2.55%

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

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

BUSINESS | Financial Market News

#

(₦’bn)

(%)

(%)

Commercial Papers Nil

GUINNESS NIGERIA

GUINNESS CP III 29-JUL-16

04-Nov-15

FMDQ Daily Quotations List

TOTAL OUTSTANDING VALUE

13.75

2.77

29-Jul-16

84

6.18

13.84

2.77

13.41

6-May-16

The DQL contains data relating to, amongst other things, market and model prices, rates of foreign exchange products, fixed income securities and instruments in the financial market (the “Information”).

The Information does not constitute professional, financial or Money Market **TREASURY BILLS^ FIXINGS Foreign Exchange (Spot & Forwards) investment advice.

Information is accurate; however, the Information is provided “AS IS” (%) and on an “AS AVAILABLE” basis and may not be accurate or up to date.

We do not guarantee the accuracy, timeliness, completeness, performance DTM We attempt to ensure the Maturity Bid Discount (%) Offer Discount Bid Yield (%) Tenor Rate (%) NIBOR 13 19-May-16 0.28 0.03 0.28 or fitness for a particular purpose of any of the Information, neither do we accept liability for the results of any action taken on the basis of the Information.

OBB 3.58 Tenor Bid ($/N) Offer ($/N) 20 26-May-16 2.50 2.25 2.50 Tenor Rate (%) 27 34 41 48 55 69 76 Rating/Agency 83 90 97 104 118 125 139 153 160 167 174 181 195 209 NA 216 223 244 258 272 286 300 314 321 335 349

2-Jun-16 9-Jun-16 16-Jun-16 23-Jun-16 30-Jun-16 14-Jul-16 21-Jul-16 Issuer 28-Jul-16 4-Aug-16 11-Aug-16 18-Aug-16 1-Sep-16 8-Sep-16 22-Sep-16 6-Oct-16 13-Oct-16 20-Oct-16 27-Oct-16 3-Nov-16 17-Nov-16 1-Dec-16 NA 8-Dec-16 15-Dec-16 5-Jan-17 19-Jan-17 2-Feb-17 16-Feb-17 2-Mar-17 16-Mar-17 23-Mar-17 6-Apr-17 20-Apr-17

FGN Bonds

4.23 4.28 5.31 4.45 4.67 5.81 6.10 Description 6.76 7.84 13.05 16-AUG-2016 7.78 7.58 15.10 27-APR-2017 8.01 9.85 27-JUL-2017 8.34 9.35 31-AUG-2017 8.83 8.40 10.70 30-MAY-2018 8.57 ^16.00 29-JUN-20198.72 8.52 7.00 23-OCT-2019 8.72 ^15.54 13-FEB-20209.36 ^16.39 27-JAN-20229.05 9.49 ^14.20 14-MAR-20249.28 ^12.50 22-JAN-20269.08 9.74 15.00 28-NOV-202810.18 12.49 22-MAY-202910.11 8.50 20-NOV-2029 10.38 10.26 ^10.00 23-JUL-2030 10.13 ^12.1493 18-JUL-2034 10.53 ^12.40 18-MAR-2036 10.67

3.98 4.03 5.06 4.20 4.42 5.56 5.85Date Issue 6.51 7.59 7.53 16-Aug-13 7.33 27-Apr-12 7.76 27-Jul-07 8.09 8.58 31-Aug-07 8.15 30-May-08 8.32 8.47 29-Jun-12 8.27 23-Oct-09 8.47 9.11 13-Feb-15 8.80 27-Jan-12 9.24 14-Mar-14 9.03 8.83 22-Jan-16 9.49 28-Nov-08 9.93 9.86 22-May-09 10.13 20-Nov-09 10.01 23-Jul-10 9.88 18-Jul-14 10.28 18-Mar-16 10.42

4.24 Bonds 4.30

5.34 4.48 4.70 5.87 6.18 (%) Coupon 6.86 7.99 7.95 13.05 7.75 15.10 8.22 9.85 8.58 9.14 9.35 8.70 10.70 8.91 9.09 16.00 8.88 7.00 9.11 9.85 15.54 9.54 16.39 10.05 14.20 9.84 9.67 12.50 10.46 15.00 11.01 10.97 12.49 11.35 8.50 11.26 10.00 11.12 12.1493 11.66 12.4000 11.88

TOTAL OUTSTANDING *for the Amortising bonds, theVALUE average life is calculated and not the TTM #

Modified Duration Buckets

FMBN

TOTAL OUTSTANDING VALUE TOTAL MARKET CAPITALISATION

<3 3<5 >5 Market

O/N Tenor Call 1M 3M (Yrs) TTM 6M

Outstanding Value Maturity Date (₦’bn) NITTY Tenor 1M 581.39 2M 480.13 3M 20.00 6M 9M 100.00 12M

4.08

REPO

Rate (%) 5.1021 16-Aug-16 5.4176 27-Apr-17 7.9790 27-Jul-17 9.3441 10.2708 31-Aug-17 11.3209

300.00 30-May-18 351.30 29-Jun-19 NIFEX 233.90 23-Oct-19 Current Price ($/N) 576.93 13-Feb-20 BID($/N) 199.0000 605.31 27-Jan-22 OFFER ($/N) 199.1000 719.99 14-Mar-24 266.02 22-Jan-26 75.00 28-Nov-28 150.00 22-May-29 200.00 20-Nov-29 591.57 23-Jul-30 1075.92 18-Jul-34 80.00 18-Mar-36

Rate (%) 4.27 4.83 Bid5.67 Yield 6.47

(%)

Spot 7D 14D 1M 2M 3M Offer Yield 6M 1Y (%)

0.28 8.22 7.69 NOTE: 0.98 11.48 11.32 :Benchmarks 1.22Bond 11.72 11.59 * :Amortising µ :Convertible 1.32Bond 11.77 11.64 AMCON: Asset Management Corporation of Nigeria 2.06Government of Nigeria 12.17 12.08 FGN: Federal FMBN: Federal Mortgage Bank of Nigeria 3.15 12.74 12.63 IFC: International Finance Corporation 3.46 12.89 12.77 LCRM: Local Contractors Receivables Management NAHCO: Nigerian 3.77 Aviation Handling 13.03 Company 12.93 O/N: Overnight 5.73 13.20 13.13 UPDC: UAC Property Development Company 7.85Africa Portland Cement 13.29 Company13.23 WAPCO:West 9.71 13.21 13.15 12.56 13.43 13.38 13.04 13.47 13.41 13.54 13.50 13.44 14.21 13.55 13.50 18.20 13.86 13.81 19.86 13.78 13.73

197.33 199.07 199.66 201.00 201.51 206.27 214.72 Bid Price 221.39

197.43 199.58 199.98 Price 201.32 201.85 206.95 215.77Price Offer 224.17

101.26 103.24

101.41 103.39

96.12 109.39 94.06 69.26 77.80 88.70 90.66

96.42 109.69 94.36 69.56 78.10 89.00 90.96

Valuation Yield (%)

Modelled Price

NA :Not Applicable 97.88 98.03 ^ : Market Prices # : Floating Rate Bond 97.09 97.24 ***: Deferred coupon bonds 97.37 97.52 DTM: Days-To-Maturity TTM: Term-To-Maturity 108.18 108.48 ‡ : Bond rating under review 83.95 84.25 †: Bond rating expired N/A :Not107.24 Available 107.54 {r} :Issuer in receivership 112.47 112.77 NGC: Nigeria-German Company 104.29 104.59 UBA: United Bank for Africa

6362.457269

6,241.27 Outstanding Value Issue Date Coupon (%)INDEX FMDQ FGN BOND (₦’bn)

Description

Issuer

Agency Bonds Nil

4.1817 8.2335 10.3164 12.0010

6,407.46

Risk Premium is a combination of credit risk and liquidity risk premiums

TOTAL MARKET CAPITALISATION **Exclusive of non-trading t.bills Rating/Agency

O/N 1M 3M 6M

Porfolio Market Value (₦’bn)

17.25 FMB II 03-APR-2017

998.74 1,431.61 1,414.53 3,844.88

Total Outstanding Volume (₦’bn)

Weighting by Outstanding Volume

928.23 1,325.30 1,667.49 3,921.02

23.67 33.80 42.53 100.00

03-Apr-12

Weighting by Mkt Value

17.25

25.98 37.23 36.79 100.00

Bucket Weighting

1.20

1.20 1.23

0.24 0.34 0.43 1.00

Maturity Date % Exposure_ Mod_Duration

Avg. Life/TTM (Yrs) Implied Yield

03-Apr-17

0.48

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

0.15 0.15 0.95 0.67 1.65 1.47 1.48 1.44 1.45

12.92 29.60 57.48 100.00

12.93 13.26 13.76 13.50

# Risk Premium (%) Implied Portfolio Price

2.94

134.9106 148.2320 110.3690 128.9764

INDEX

12.03

1,227.37 1,285.08 1,330.61 1,228.19

YTD Return (%)

102.39

10.7889 26.9128 32.1341 16.3961

Sub-National Bonds BBB+/Agusto A/Agusto A+/Agusto; A+/GCR A-/Agusto A-/Agusto A/Agusto; A+/GCR A-/Agusto; A-/GCR A/Agusto‡ ; A-/GCR†

*BENUE *IMO LAGOS *BAYELSA EDO *DELTA *NIGER *EKITI

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

30-Jun-11 30-Jun-09 19-Apr-10 30-Jun-10 31-Dec-10 30-Sep-11 04-Oct-11 09-Dec-11 12-Dec-13

14.00 15.50 10.00 13.75 14.00 14.00 14.00 14.50 14.00

1.30 2.05 57.00 16.45 25.00 23.44 4.22 10.98 8.14

4.46 3.48 1.00 5.71 2.39 1.00 1.00 3.82 3.56

10.44 9.46 12.37 15.72 14.34 12.85 12.86 15.66 15.40

100.45 100.82 97.91 98.75 99.46 101.43 101.44 98.56 98.26

34

BUSINESS | Interview

MONDAY, MAY 9, 2016 NEW TELEGRAPH

‘CBN has managed economy, President, Manufacturers Association of Nigeria (MAN), Dr. Frank Jacobs, in this interview with TAIWO HASSAN, speaks on sundry issues on the nation’s economy, especially on the foreign exchange policy, the 41 items prohibited from accessing foreign exchange, the proposed currency swap and the implication of the 2016 budget delay. Excerpts: The first quarter of the year has just ended.

What is your assessment of the Nigerian economy?

Well, the first quarter of the year was full of uncertainties in the nation’s economy. The reason being that we have been expecting the budget all these while and it hasn’t been released yet and without the budget being approved and assented to by Mr. President, it cannot be implemented. And without implementing the budget, the economy will continue to be experiencing uncertainties in all ramifications. Essentially, it is unfortunate that this is where we are at the moment. So, the first quarter of this year was full of uncertainties in our economy. That is what I think happened in the first quarter based on my assessment.

In your view, what are impacts of the real sector on the nation’s economy in the first quarter of this year?

Like I said earlier, there were a lot of uncertainties in the country’s economy as regards the 2016 budget delay and the fact that the real sector is having challenge with foreign exchange regime. Although, towards the end of the quarter under review, we were able to negotiate with the Central Bank of Nigeria (CBN) governor and he made a promise that he will assist our members to ensure that they get foreign exchange from the banks for their businesses. Since that time, things had turned out to become better for us than it was at the beginning of the first quarter. Generally speaking, the first quarter of the year was full of uncertainties. That is in addition to the fact that our members faced various economic challenges, especially in the area of getting foreign exchange for importation of raw materials. So, we couldn’t have made much more impact during the first quarter of this year.

Can you share with us the percentage of the manufacturing sector’s contribution to the nation’s economy in the first quarter of this year?

I don’t have the real sector’s per cent contribution to the nation’s economy during this first quarter period off my hands now. But, maybe, if I ask the economic department of MAN they will tell us how far the industry performed in the quarter under review. But one fact I know is that most of the companies really had problems during this period with their businesses. Specifically, there was a threat to their businesses being shut down unexpectedly, especially for those who could not get foreign exchange for their raw materials for production. It is only in this second quarter that things are beginning to peak well. But during that first quarter, it was very tough for everybody in Nigerian manufacturing sector.

We learnt that you were on the entourage of Mr. President to China recently. What are the gains of the trip, especially its impact on Nigeria’s manufacturing sector in the long term?

It is not because I travelled with Mr. President, the main thing is what came out of the China visit. And there were many positive things that came out of the visit. For instance, the $6 billion dollar investment promised by China to Nigeria. And the good thing is that

Jacobs

most of these investments would be in the area of infrastructural development. And, you know, the bane of the manufacturing sector in this country is the dearth of infrastructure. So, I know that the agreement that was struck out there in Beijing would be invested on infrastructure. Also, investments in other critical areas of the nation’s economy will definitely benefit Nigerian economy and, by extension, the manufacturers.

However, the next important decision that was made during the trip was the one that has to do with the currency swap. That has very important impact on the manufacturing sector, in fact, on the economy generally. Because today we know that 50 per cent of manufacturers in this country sourced their raw materials from China. And that being the case, it will be easier now to buy them in Yuan and that would reduce the pressure on dollar and, by extension, it will strengthening our naira. Well, those were the two things that were achieved on the trip.

Recently, the Federal Government announced the adoption of Chinese currency, Yuan, into Nigerian commodity market. How will this strengthen the naira against the dollar and will it affect international trade?

I won’t say how the proposed currency swap will impact on the international trade, but let me concentrate on its impact on Nigeria’s economy and not how it is going to impact on the global trade. As I said earlier, it is bound to impact positively on the Nigerian economy. If we have been purchasing our goods in dollars and

now we move to another currency, obviously, the owners of dollars will feel they are losing something. That is the kind of positive impact it might have on the international market. But as far as Nigeria is concern, it is to our advantage, because now, it is going to remove the pressure on the dollar, which has been very high recently.

Today we know that 50 per cent of manufacturers in this country sourced their raw materials from China

Now that China is considering Nigeria as the hub of West African region, what advantage is there for Nigeria?

If we become the hub of China’s investment interest in West African region, that will help us to grow our economy optimally.

There is going to be more business activities in Nigeria from various countries with Chinese interests in Africa. I think it will be something good. I look forward to this China investment proposal in the future.

Recently, MAN had a meeting with the management of the Central Bank of Nigeria (CBN), especially on the possible review of the 41 items prohibited from assessing foreign exchange.

What is the outcome of the meeting?

I don’t really know. It wasn’t like we specifically talked about the 41 items during the meeting. Earlier, we had discussed with the CBN’s management, including its governor, on the 41 items. At the meeting, we made our points known to the CBN management team. But aside that, the latest meeting we held with the CBN governor, maybe, I will talk about it later. But on the issue with the 41 items, I can say that 41 items have a lot of items lumped together. So,

MONDAY MAY 9, 2016 NEW TELEGRAPH

FX regime properly’

BUSINESS | Interview

35

CV Institution: Manufacturers Association of Nigeria (MAN) Designation: President Founded: May 1971 Career:

Awards:

The Ninth President of the Manufacturers Association of Nigeria (MAN). Prior to his new position, he was MAN Vice-President (Enugu Zone). Formally, Chairman, Imo-Abia Branch of MAN. Former Member, MAN Corporate Affairs and Strategic Planning Committee from 2010– 2014.

He is the Founder and Chairman, Jacobs Wines Limited based in Imo State.

In recognition of his contribution to the development of Nigeria, he was honoured with Member, Order of the Niger (MON). Merit Award for Local Raw Materials Utilization in 1994, he also bagged the following awards: Sustainable Human Development Award of National Industrial Safety Council of Nigeria (1997); MAN Certificate of Merit for Pioneer Indigenous Industry (1997); Imo State Industrial Merit Honour(1994); and Imo State Merit Award for Contribution of Imo State (2005).

Total pay: NIL Education: B.A (Chemistry) from Incarnate Word College, Santonio, Texas, United States of America (now University of the Incarnate Word); PhD (Analytical Chemistry) from Washington State University, Pullman, Washington, USA; Post doctoral fellowship with the University of Calgary, Alberta, Canada and Assistant Professor of Environmental Analytical Chemistry at Old Dominion University, Norfolk, Virginia, USA. what we did with the CBN’s 41 items list was to break it down into different HS codes and we got 680 HS codes. Of these, only 95 items were the raw materials that concerned our members.

So, we appealed to the apex bank’s management that we want these items (95 items) to be removed from the total list on the 41 items prohibited so that our members can source foreign exchange they need from the window market to enable them source for their raw materials overseas. We agree with what CBN is doing presently now, I must say this here. We are 100 per cent in support of the CBN’s foreign exchange policy because at the end of the day, it will grow our economy optimally. It will make our people look inwards for their raw materials inputs.

But in MAN, we see the CBN’s foreign exchange policy as throwing a child away with the bath water. I included those 95 HS codes items we had appealed to CBN to remove so that our members can source for their raw materials overseas, since we don’t have capacity to produce those raw materials here. But they have not actually done what we want now it’s been considered.

From what the CBN told us, they are still discussing it but, we are hoping that there might be a review in earnest. As at this present, the status quo stands.

However, our members, during the first quarter, had difficulties sourcing foreign exchange in the country. Even those that are not asking of items that were not within the 41 items listed could not source foreign exchange too. So, the pains were too difficult and they approached us and told us what problems they were having and we engaged the CBN governor on the matter. And I told him how impor-

Jacobs

tant it was for MAN members to get foreign exchange, otherwise their factories would be shut down. In fact, they (CBN) were given lists of factories that were likely going to be shut down due to forex scarcity. So, right there, he said that he won’t allow that to happen and he will make sure that our members receive foreign exchange, even though they won’t get it at 100 per cent of their requirements. But they must get something from the banks. You know that half bread is better than none, we said okay. Since then, our members have been meeting up with their foreign exchange requirements, though, not 100 per cent.

We are 100 per cent in support of CBN’s foreign exchange policy… it will grow our economy optimally

Why does MAN think that the CBN’s 41 items banned was a good omen for Nigeria’s economy?

You see, the 41 items included most of the sectors of the economy. And some of those items, we have capacity to produce them locally. And because we have capacity to produce them in this country, removing them from the foreign exchange market means that our members that are producing these products will have bigger market. There will be less competition. So, to that extent, we support it.

Remember, when I talked earlier, I said that we supported the CBN’s foreign exchange policy on the 41 items banned, except that, there were certain items that we believed should not be there on the list. So, we support the CBN’s policy on the 41 items banned from accessing forex.

Do you believe we can sustain the current foreign exchange policy in the long term?

Obviously, the policy can not be sustained on a long term basis. But it is a policy that you need to have in place now to address the challenges that we have in our economy. Due to the dwindling oil price in the international market, the revenue coming to the country has decrease significantly. Look at our foreign reserve, it’s going down every day and we cannot continue to allow everything to be coming into this country. So, what CBN has done is to find ways to conserve that scarce foreign exchange

that we have now. And doing that means putting restrictions on certain items that must be removed from foreign exchange market. And I think it is a right decision on the part of CBN. Many manufacturing firms have closed shops in the country because of the economic downturn.

What immediate measures are to be taken to instil business confidence among Nigerian manufacturers?

I think that government should address the infrastructural challenges facing the nation’s manufacturing sector so that all of us can operate at the same level in order to enhance investment drive. Those challenges need to be addressed squarely to move the industry forward rather than the diversification programme of the Federal Government.

Today, we know that power supply in this country is nothing to write home about. So, there is need for government to do something in that area to ensure that there is adequate power supply. We cannot move our goods from one part of the country to the other, especially the heavy ones, via roads. We need to develop a robust rail transport network in the country.

Even though the rail networks we have in this country currently are not well maintained as they need to be maintained properly.

A situation whereby average interest rate in this country hovers around 23 per cent is not acceptable. It does not support manufacturing or investment growth. So, we believe that there is need for government to do something in trying to bring the interest rate regime down to three or five per cent as it is obtained in other climes. Until that is done, the whole programme of diversification of the economy will not work.

We think something needs to be done on the multiple taxation issue in the system too. I think government should address that area as there is need to harmonise all the taxes. This was started in 2012-2013, but the gazette is yet to come out. This administration should dust up that recommendation and do something about it.

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BUSINESS | MONEYLINE

CAVEAT ATM disputes must be resolved within three days Stories by Tony Chukwunyem

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he Central Bank of Nigeria (CBN) has released approved guidelines on the operations of electronic payment channels and transaction switching in the country.

In a statement posted on its website at the weekend, the apex bank said the approved guidelines on electronic payment supersede the standards and guidelines on Automated Teller Machines (ATMs) and

MONDAY, MAY 9, 2016 NEW TELEGRAPH

CBN’s e-payment, transactionswitching guidelines out guidelines on Point of Sale (PoS) card acceptance services that it previously issued.

Similarly, the CBN stated that the guidelines on transaction switching supersede the previous guidelines on transaction switching services and the operational rules and regulations for the Nigeria Central Switch (NCS).

According to the regulator, under the approved guidelines for electronic payment, it is compulsory for all ATM de-

ployers/acquirers to comply with Payment Card Industry Data Security Standards (PCI DSS).

It also stated that all ATM systems should have audit trail and logs capabilities, comprehensive enough to facilitate investigations, reconciliation and dispute resolution.

The apex bank also directed that acquirers should ensure that within five years, 2 per cent of ATMs deployed by them, should have tactile

IMF approves FY2017–FY2019 medium-term budget

CIBAFI launches global confab on sustainable growth

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he Executive Board of the International Monetary Fund (IMF) has approved the Fund’s administrative and capital budgets for financial year (FY) 2017, beginning May 1, 2016. The board also took note of indicative budgets for FY2018–19.

According to a statement issued by the Fund, “The net administrative budget for FY2017, which covers all administrative expenses net of receipts (primarily from external sources to help support capacity building activities and excluding lending income), has been set at US$1.072 billion. As

T

he Council of Islamic Banks and Financial Institutions (CIBAFI), the umbrella of Islamic financial institutions, has launched its Global Forum.

The confab is themed, “Rethinking Values for Sustainable Growth.”

The two day forum, organised under the patronage of the Central Bank of Bahrain, brought together stakeholders from the Islamic finance industry, multilateral development institutions, international and national regulatory bodies, policy-makers, and academia to discuss the key emerging issues within the industry.

Delegates attended the forum from more than 28 countries.

is customary, small adjustments were made in the budget to accommodate increases in the salary structure and in the cost of nonpersonnel expenses, in line with price increases.

“In addition, after four years of zero real growth, the FY2017 budget includes an increase of 0.5 percent in constant dollar terms to cover the institution’s rising IT and physical security costs.

The budget envelope also entails reallocation measures of 1.5 percent of resources and institution-wide savings to meet new high priority tasks and commitments to the membership.”

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

N19,142,526.05m N18,579,219.49m 12.8 12 10.77 US$44.13 US$26,919,544,538

Mar, 2015 Mar, 2015 Mar, 2016 23/03/2016 Mar 2015 6/5/2016 5/5/2016

Source:CBN

Description 15.10 27-APR-2017 16.00 29-JUN-2019 15.54 13-FEB-2020 16.39 27-JAN-2022 14.20 14-MAR-2024 12.50 22-JAN-2026 10.00 23-JUL-2030 12.1493 18-JUL-2034 Tenor (Days) Call 30 90 180

FGN Bonds

TTM

Price 104.65 114.59 111.96 120.58 109.60 100.54 83.82 97.56

1.07 3.24 3.87 5.82 7.95 9.81 14.31 18.29

NIBOR

Rate (%) 4.4583 9.1071 11.0102 12.3790

Bid Yield 10.38 10.55 11.60 11.44 12.27 12.40 12.44 12.49

Change (%) -2.50 ▼ -0.74 ▼ -0.65 ▼ -0.68 ▼

Change (%) -0.02 ▼ -0.01 ▼ 0.00 ↔ 0.00 ↔ -0.07 ▼ -0.08 ▼ -0.03 ▼ 0.02 ▲

Price 104.80 114.89 112.26 120.88 109.90 100.84 84.12 97.86

Tenor (Months)

Change (%) -0.02 ▼ -0.01 ▼ 0.00 ↔ 0.00 ↔ -0.07 ▼ -0.08 ▼ -0.03 ▼ 0.02 ▲

NITTY

Rate (%) 6.9949 7.2368 8.0819 9.2061 9.5872 10.5042

1 2 3 6 9 12

Treasury Bills

Offer Yield 10.24 10.45 11.51 11.38 12.22 12.34 12.39 12.44

Change (%) 1.12 ▲ -0.27 ▼ -0.17 ▼ -0.11 ▼ 0.03 ▲ 0.42 ▲

Money Market

Maturity Date Discount Bid Yield Change (%) Discount Offer Yield Change (%) Rate (%) 7.67 7.82 -0.51 ▼ Open-Buy-Back (OBB) 3.83 30-Jun-16 7.92 8.08 -0.51 ▼ 6-Oct-16 8.59 8.34 8.71 -0.31 ▼ Overnight (O/N) 4.33 8.99 -0.31 ▼ 16-Mar-17 9.36 10.28 -0.07 ▼ 9.11 9.98 -0.07 ▼

Spot($/N)

Bid 199.14

FX

Offer 199.24

Change (%) 0.57 ▲

NIFEX

Spot($/N)

Bid 199.0000

CBN Clearing Rates of January 7, 2016 Spot($/N)

196.00

197.00

0.00 ↔

Offer 199.1000

Change (%) -1.75 ▼ -2.08 ▼

Change (%) 0.00 ↔

graphic symbol for the use of visually impaired customers, adding that the locations of such ATMs should be visibly publicised on acquirers’ websites.

According to the CBN, “Any bank or independent organisation that deploys an ATM should ensure that the ATM downtime (due to technical fault) is not more than 72 hours consecutively, where this is not practicable, customers shall be duly informed by the deployer.

“The helpdesk contacts are adequately displayed at the ATM terminals. At the minimum, a telephone line should be dedicated for fault reporting and such telephone line shall be functional and manned at

all times that the ATM is operational.”

Significantly, the guidelines also stated that wherever there is a dispute between an ATM customer and the owner of the ATM, it should be resolved within three days.

It will be recalled that the banking watchdog had in 2014 announced that it would commence a comprehensive review of electronic payment guidelines in the country.

The apex bank said that the review of guidelines was to build on the success recorded in the promotion of e-payment in the country by enhancing the adoption of electronic payments system in certain sectors of the economy.

Sterling Bank backs Ogun Investment Forum

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s part of its drive to partner with stakeholders in the growth of the nation’s economy both at the state and national levels, Sterling Bank has announced its sponsorship of the third edition of the Ogun State Investment Forum.

The theme of the two day event starting on May 9, 2016, according to a statement signed by the lender’s Group Head, Strategy & Communications, Mr. Shina Atilola, is “Ogun State: Open for Business- Emerging Economic Powerhouse”.

Sterling Bank had also sponsored the 2014 edition of the programme and stands out as a major partner with other state governments especially in the area of education and economic development. Last year, the lender presented an elibrary to the College of Education, Ikere Ekiti in Ekiti State and commissioned co-branded verve/identity cards, which serve as access control system and identity management solution for staff and students of the Benue State University in Makurdi.

Also, in line with the plan of the Federal Government to diversify the economy occasioned by the declining revenue generated from crude oil exports, Sterling Bank has remained committed to supporting production and consumption of locally made goods and services by supporting local manufacturers with the introduction of the “made in Nigeria” week and its partnership with Innoson Motors; the first in the manufacturing of locally made vehicles.

Atilola explained that the involvement of the bank in the Forum was informed by the need for public - private partnership to achieving rapid economic development in Nigeria.

While commending the Ogun State government for opening the state for domestic and international investors, he noted that the step taken by the government would accelerate the desired growth and development of the state’s economy by curtailing the challenge of unemployment and improving the standard of living of her citizens.

BNP Paribas to cut 675 jobs

B

NP Paribas’s plan to cut more than 10 per cent of its investment banking jobs in France will affect information technology and operations staff, along with corporate trade and treasury, financing, advisory and global markets, among others, the CGT union said.

BNP Paribas announced early in April a voluntary redundancy plan that calls for up to 675 job cuts at its corporate and institutional bank (CIB) in France, which employs 6,000 staff.

The bank said last February it planned to save more than €1 billion by 2019 to boost profitability and help to mitigate the

effect of rising regulatory and compliance costs in its corporate and institutional banking division.

“The employees affected by the plan would be faced with the choice to either leave the company or to accept ‘mobility’ with a potential cut in remuneration,” the CGT union said on its website following a meeting with the bank’s management on May 3.

BNP Paribas’ investment bank, like many of its rivals, showed the effect of weak investor demand in the first quarter, with pretax income down 54.5 per cent and revenue down 18.9 per cent.

Osun APC elders call for reconstitution of boards Adeolu Adeyemo Osogbo

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sun State Elders’ Council of the All Progressives Congress (APC) at the weekend called on President Muhammadu Buhari to with immediate effect dissolve and reconstitute boards of all federal commissions and parastatals for his administration to take-off fully.

In a communiqué issued at the end of its statutory meeting and signed by its chairman, Engineer Sola Akinwunmi, the elders said a quick response to the call was essential so that the change mantra of the party can hit the ground

running.

Referred to as the ‘Igbimo Agba’, the group also called on the national leadership of the All Progressives Congress (APC) not to shy away from the task of enforcing party discipline among members.

The council however identified the resumption of construction works at project sites in Osun state and lauded Governor Rauf Aregbesola "for the transparent and judicious management of state affairs in spite of lean resources."

According to them, Governor Aregbesola has been able to meet the daunting responsibilities of government as well as executing laudable programmes and projects in

line with his electioneering campaign promises.

"Creation of additional Local Council Development Areas by the Aregbesola administration would not only engender development but also bring government closer to the people at the grassroots level", the Igbimo Agba stressed.

15

The life expectancy of men at age 60 years of DR Congo in 2010-2015.

Source: Un.org

10.3m

The total followers of NHL players in 2016.

Source: Goal.com

Some APC governorship aspirants can't win polling unit –Lawmaker Babatope Okeowo Akure

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orried by the deluge of aspirants jostling for the sole ticket of All Progressives Congress(APC) ahead of November 16 governorship election in Ondo State, a member of the House of Representatives, Babatunde Kolawole has told the party leaders to pick from those who delivered their constituencies for the party at the last general election.

The lawmaker who is representing Akoko South East/Akoko South federal constituency, warned that the party must not allow any aspirant, who cannot win his/her polling unit to emerge as the candidate for the party.

Speaking at Ayepe

L-R: DC Bappa A; DC Apeh D; Commandant, Nigerian Security and Civil Defence Corps ( NSCDC), Lagos State, Tajudeen Balogun; Lagos State Governor, Akinwunmi Ambode; DC Adigwe U; AC Adefila and Sup Godono J, during Balogun's working visit to Ambode in Lagos

APC kicks against N25,000 levy as AAUA announces resumption date Kayode Olarenwaju and Babatope Okeowo

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he Management of the Ondo State owned Adekunle Ajasin University, Akungba Akoko, (AAUA) has announced May 16 as resumption date after the institution was shut following a violent protest that rocked the campus and host community.

The institution was shut fortnight ago when a speeding motorist killed a 200-level student outside the campus.

The Vice Chancellor of the institution, Prof.

Igbekele Amos Ajibefun, who announced the resumption at the weekend disclosed that the school management is committed to positioning the University among the best globally, just as he vowed that criminal elements masquerading as students would not be awarded the University’s certificate Meanwhile, the All Progressives Congress, (APC) criticized the alleged N25,

000 levied on the students before they could resume for academic activities.

The party also berated unequivocally the conduct of the students or any group of people who resort to the destruction of public utilities as a way of showing discontent with government .

The Chairman of APC, Hon Duerimini Isaacs Kekeeke in a statement said the amount which is meant to be reparation fees for resumption of the students is outrageous and malicious.

Kekemeke explained that the announcement of twenty five thousand naira reparation fees has confirmed that the Governor Olusegun Mimiko led administration is on the verge of impoverishing the people of the State.

It said it is callous for the government to impose such huge amount of money on the students at this time when salaries are not paid and economy of the state has dwindled.

The APC however urged the government and the management to

37 Move from slogan to action, Bishop tells Buhari

south-west | news

monday, may 9, 2016 NEW TELEGRAPH

community in Iwaro-Oka, Akoko South West local government area of the state while commissioning 22 block market stalls which he constructed for his constituents, Kolawole said many of the governorship aspirants are not qualified for councillorship position as they could not win their polling units.

The legislator who also empowered 70 aged people from three wards in his constituency with N5000 monthly stipends said the party should be looking at someone who has structures in all the 18 local governments and who would be generally be accepted by the electorate when presented by the party.

Kolawole noted that the people of the state are already tired of the Peoples Democratic Party [PDP] led’s government and they are yearning for a change, saying that the only option for his party is to ensure the best emerge as the candidate among the over 45 aspirants.

His words, “we are aware that the economy status of our dear state is now stagnant. Nothing is working. Workers are being owned. Market women, artisans, Okada riders had been under the bondage of heavy taxation.

Our people are yearning for change and they believe that it is only APC that can rescue them.

Sulaiman Salawudeen Ado-Ekiti

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he Bishop of the Catholic Diocese of Ekiti, Felix Femi-Ajakaiye has urged President Mohammadu Buhari to undertake programmes that would bear directly and immediately on the lives of majority of Nigerians.

Bishop Ajakaye said the president must cut down on the number of the planes and luxury vehicles in his control, noting that the 12 planes currently serving the Presidency does not agree with the administration's change agenda.

He said, "What we really need now is practical change, though it is an ongoing process, it involves all. Practical change is a definitive departure from slogan to action ".

Ajakaye yesterday spoke in his homily titled 'Communication and Mercy : A Fruitful Encounter', delivered to mark the 50th World Communication Day yesterday at Saint Patrick Catholic Cathedral in Ado-Ekiti, the state capital, noting Nigerians were losing patience waiting to see change reflected in their lives in actual terms.

He equally appealed to the President to follow due process and uphold the rule of law at all times in the affairs of the country, not minding who felt of-

Ife markets shut for traditional prayers

Adeolu Adeyemo Osogbo

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ustodians of tradition in Ile-Ife has ordered that markets in the ancient town be shut for two-days, today (Monday) and tomorrow (Tuesday), for prayers to be made on the economic state and social devices that have retarded the

progress of the country.

Making the announcement in the early hours of yesterday through town criers who went round all the markets, the custodians urged traders to keep off market squares from 7am.

Meanwhile, fear has gripped residents of the town who are still in the dark over the type of prayers to be offered.

Some of them who spoke with New Telegraph stated that, the announcement remains cloudy to them as it was not announced whether the prayers would be performed by traditionalists, Christian or Muslim clerics.

One of them who identified herself as Iya Tunde, said if the proposed prayers is in Mus-

Afe Babalola spends over N78bn on varsity Sulaiman Salawudeen Ado-Ekiti

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he proprietor of Afe Babalola University, (ABUAD) Ado Ekiti, Chief Afe Babalola (SAN), has spent over N78 billion to develop the institution.

Babalola said he would not relent in spending even more to ensure the institution remained at the top in all that is good and commendable.

He said ABUAD was the only university in the country that currently had what is known as “Talent Discovery Di-

rectorate" in which students were being made to discover their gift areas early enough and get the needed mentoring.

The legal luminary spoke at the weekend at a well-attended reception organised by the Institution in honour of one of its alumnus, Mr Popoola Olamide, who recently led a team from three private universities in Nigeria to win a global competition tagged 'Unilever Future Leaders League' in London.

Also, the philantropist has sent a wake-up call to policy makers and education administra-

tors across the tiers of government in Nigeria to give prime attention to the study of Engineering courses.

The universities are Afe Babalola University, Babcock University and Samuel Ajay Crowther University.

He said, "Engineering offers the opportunity to change the world; it offers opportunities to do what others cannot do."

He said that he had two regrets in life, including not studying engineering and not starting the university earlier than he did, he noted that only technologically ad-

lim or Christian ways, they may get involved in it but said if it is that of traditionalists, they would stay off the place for the period.

She however appealed to every inhabitant of the town to stay indoors and observe their prayers in their respective homes for the advancement and security of the country and that of the state.

vanced countries would remain leaders and controllers of the global economy.

According to him, for Nigeria to also join the league of world's developed economies, it must encourage the study of Engineering in its various fields.

Babalola said although ABUAD was just seven years old, it had made its marks in all fields of human endeavour, especially in Engineering in which the institution had the most well equipped laboratories, especially the mechatronic engineering.

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monday, may 9, 2016 NEW TELEGRAPH

IPOB slams Ojukwu's son over leadership Charles Onyekwere ENUGU

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ro-Biafran group, Indigenous people of Biafra (IPOB), has condemned spurious claims by the son of the former Biafran warlord, Dim Emeka Odumegwu Ojukwu, Mr. Debe Ojukwu, about the leadership of the group.

Ojukwu, in a newspaper report, stated that Nnamdi Kanu is not the leader of Indigenous People of Biafra (IPOB).

But in a statement made available to New Telegraph, via em-mail signed by the Director of Publicity, Emma Powerful, the group said Debe Ojukwu does not know anything about the forma-

tion of the group founded by detained Kanu.

"This statement shows that he is not properly informed about the movement and restoration of Biafra. We regret that somebody from the family of the former Biafra leader, late Chukwuemeka Odumegwu Ojukwu or one of the sons, is making this type of unsavoury statement.

"We, IPOB worldwide, know that Mr. Debe Ojukwu works for Bilie that is known for their APC sympathies. He is dragging property with his family members in a Lagos court yet he claims he started IPOB. "The question is where and when did he start IPOB? Does he recall that Nnamdi Kanu visited his

residence at Lekki Phase 1 in Yoruba land with the publisher of Eastern Pilot newspaper to ask him to join IPOB? "This man must be shown where he belongs but not IPOB and should stop ridiculing himself," the statement said.

The group pointed out that Debe Ojukwu should be grateful to Nnamdi Kanu instead of attacking him.

"Was it not the same Nnamdi Kanu that used Radio Biafra to defend him when Ojukwu's children said his mother was not married to Gen. Odumegwu Emeka Ojukwu and as such labelled him a nobody in the society.

"Without the intervention of Nnamdi Kanu on Radio Biafra he, Debe,

would have been found nowhere today. Debe should be asked where and when he contributed to Radio Biafra formation and IPOB. "This man is being used by APC and Buhari to destabilise IPOB by faking leadership crisis. He has brought shame to the revered Ojukwu's name and family all because of political opportunism.

"Why did he not come out to condemn President Muhammadu Buhari and the Department of State Services (DSS) when they tagged IPOB an illegal group? Now IPOB has proved to the world that they are not miscreants but are determined restore Biafra through peaceful means; why did he not condemn the kill-

L-R: Mrs Ijeoma Nduche; Bishop Ephrian Ikeakor; Senior Prefect, Holy Child Convent School, Amichi, Miss Faith Ezenworah; former Anambra State Governor, Mr. Peter Obi and the students of Holy Child Convent School, during the presentation of the cheque of 1 million Naira for the continued infrastructural upgrade of their school by Peter Obi in Amichi, Anambra State

Egwu tasks youths on entrepreneurship Uchenna Inya ABAKALIKI

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he Chairman, Senate Committee on Commerce and Industry and Senator representing Ebonyi North in the National Assembly, Dr. Sam Egwu has challenged youths on entrepreneurship development.

Speaking during the opening ceremony of the on-going Ebonyi Trade Fair at the Women Development Centre, Abakaliki, Egwu, who was represented at the event by Dr. Emmanuel Echiegu, a former Commissioner for Agriculture and Natural Resources, noted that the era of graduates looking for unavailable white collar jobs is over.

He said creating job opportunities should be the focus of the youths especially the graduates and not loitering with files as job seekers.

Egwu, a former Governor of the state, also explained that being an entrepreneur does not cost anything more than being a creative thinker with productive end.

ing of IPOB members in Aba, Onitsha and Port Harcourt?

"How many IPOB meetings has he, Debe, attended? Does he know we have IPOB family meeting in the same Lekki where he lives? How come he has never attended any IPOB meeting either in Nigeria

Herdsmen's killings: Nigeria perching on time bomb –Cleric Uchenna Inya ABAKALIKI

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Catholic priest in Ebonyi State, Rev. Fr. John Odey has described the incessant killings by Fulani herdsmen in some parts of the country as Boko Haram in disguise with hidden agenda to Islamize the country.

In a chat with our correspondent in Abakaliki, Odey said the incessant attacks were a form of jihad aimed at Islamizing the nation.

He regretted that Fulani herdsmen have unconstitutional and unstoppable permission to carry weapons about.

“The incessant killings by Fulani herdsmen mean Boko Haram in our midst. Muslim brothers in Nigeria have hidden agenda. They have a plan

Ohanaeze crisis widens as truce collapses Charles Onyekwere ENUGU

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he leadership impasse rocking the apex Igbo sociocultural organisation, Ohanaeze Ndigbo, has taken another dimension as the truce brokered between Chief Ralph Obioha and Chief Enwo Igariwey recently in Owerri, Imo State, may have hit the brick walls.

New Telegraph gathered that a faction led by Obioha yesterday accused the Igariwey led Executive of impeding the work of the 17 member constitution and electoral committee set up

by Governor Rochas Okorocha of Imo State to harmonise the parallel groups.

It was learnt that the 17 member constitution and electoral committee headed by Chief Obioha to midwife the constitution and conduct fresh election into the apex body was part of the resolution reached in Owerri recently.

But the committee accused Igariwey led executive of insisting on no go areas which included issue of tenure of office of Ohanaeze executive committees as well as disput-

ing the mandate of the committee which includes conduct of elections into the Ohanaeze executive committees.

When contacted however, Secretary General of Ohanaeze Ndigbo, Dr. Joe Nwaorgu said he would not respond to the allegations.

Rising from their meeting in Enugu, however, the Obioha led committee called the lgariwey led group to, in the interest of genuine peace in Ohanaeze and Igbo strategic and main stream interests, return to all the agreed terms of the peace settlement and commit itself to its full imple-

mentation.

A statement from the meeting signed by Chief Obioha, Chief Oyibo Chukwu, Senator Offia Nwali and others, stated that: “The meeting finally urges a principled implementation of all the terms of the peace agreement.

“That in view of the urgent necessity and compelling need for Chief Ralph Obioha, the leader of the Ohanaeze Caretaker committee to travel overseas, the meeting appointed Senator Dr. Offia Nwali to act in his stead and deputize for him pending his return to the country.”

Birthday, opportunity to share love - Obi

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he former Governor of Anambra State, Mr. Peter Obi has said that birthday should not be a time of "show off". He said that birthday should be a time “for us to think about our lives and ask ourselves how faithful we have been to ourselves and to our God. He also said that birthdays provide time to share love amongst people, "especially the poor among us".

Obi was stated this yesterday when he joined the Anglican Bishop

of Amichi, Most Rev. Dr. Ephrian Ikeakor, to visit Holy Child Convent School, Amichi, Master Vessels School, Osumenyi and the Diocesan Hospital Amichi as part of his birthday celebration.

The former Governor of Anambra State, who said he was amazed at what the Bishop was doing in education and health, donated N2million – N1million to Holy Child Convent and N1million to the Diocesan Hospital for further infrastructural upgrade.

or abroad?

"Debe should join the Director of Public Prosecution of Nigeria to try and condemn our leader so that he and others can get their job and contracts.

"Mr. Debe, we don't know when you became a member of IPOB."

2.75

The average stay of football players of Spain in 2013-2014.

Source: Football-observatory.com

to Islamize Nigeria and they feel that Buhari’s administration is their last chance to do this.

“Buhari’s antecedents coupled with his ominous silence in the face of the Fulani herdsmen’s unrelenting slaughter of fellow Nigerians without provocation go to prove that they are determined to succeed this time. Buhari is silently watching the Fulani herdsmen to execute their plan.

“The herdsmen are quietly doing the penetration into the deepest parts of east and south. They are okada riders in many towns, they are busy studying the terrain and once they feel they have surveyed the whole place enough they carry them through, they will openly declare their jihad.

“If nothing else, let us accept the bitter truth that Nigeria is perching on a religious time bomb,” he said.

Odey urged the Igbos to unite and fight the silent war against them in the country, and advised Nigerian leaders to ensure peaceful co-existence and put an end to religious bigotry, ethnic cliquism and elite greed.

Cattle menace threatens rice harvest in Abia – RFAN Igbeaku Orji UMUAHIA

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he Abia State chapter of Rice Farmers Association of Nigeria (RFAN) has raised the alarm over the threat the cattle menace poses to rice harvest in the state if nothing is done to check it.

RFAN has therefore cried out to the state government for help over Fulani cattle rearers whose activities pose a threat to their business in the state.

The farmers made the appeal in a release made available to newsmen at the end of its coordinators meeting held at Awka hall, Umuahia. It lamented that large farmlands belonging to their members were destroyed by rampaging cows at Idima Abam and Ndi Oji Abam both in Arochukwu LGA of Abia State.

In the release signed by the president of the state chapter, Chief Okechukwu Origa, the farmers also lamented that the rice fields in the two communities in Abam have become the permanent abodes of cattle, and that a solution needed to be found urgently if the communities must plant rice this year.

They also appealed to the state government for assistance to enhance their production capacity for food sufficiency and affordability.

Origa commended the governor, Dr. Okezie Victor Ikpeazu for his love for farmers in the state. He described the governor as God-sent and urged RFAN members to always support his administration.

The rice farmers further urged the state government to help popularize their rice to a global brand.

monday, may 9, 2016 NEW TELEGRAPH

Prices of building materials go up in Delta

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rices of some building materials recorded six per cent increase in some major towns in Delta State between January and April due to the rise in the cost of transportation.

A survey conducted by the News Agency of Nigeria (NAN) revealed that the commodities affected during the period were sharp sand, iron rod, granite and cement blocks.

The survey also shows that a double tipper load of sharp sand, which was sold for N13, 000 in Asaba early January, sold for N14, 000 during the last week of April.

A single tipper load of the item, which was also sold for N7, 000 in January in Asaba and its environs went for N8, 000 in April.

The survey also reveals that within the same period, the price of granite also went up across the state.

A double tipper load of the commodity sold for N15, 000 in Asaba, Ughelli, Agbor and Sapele in January sold for N16, 000 in April.

A bag of Elephant brand of cement, which was sold for N1, 600 in Sapele earlier in the year, was sold for N1, 700 in April.

Cross River begins rehabilitation of 83km access roads

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ross River State government yesterday said it has commenced the rehabilitation of 83 kilometres stretch of roads in the various cocoa estates across the state.

The Special Adviser to the Governor on Cocoa Development, Mr. Oscar Ofuka, disclosed this in an interview with the News Agency of Nigeria (NAN) in Calabar.

Ofuka said the rehabilitation projects were in line with the determination of the Governor Ben Ayade administration to make cocoa the mainstay of the state’s economy.

He listed the projects as the 20.1kilometre AbiaBendeghe Road and the 10.5 kilometres of road in cocoa estates located in Abonita, Etung Local Government Area of the state.

Others are the 30.5kilometre road in Ikom cocoa estate and the 20.2kilometre road in cocoa farm plantation estate.

"The commencement of the rehabilitation of the access roads to the estates was to show the level of importance the state government attached to the development of cocoa.

south-south | news

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Waterways pollution: Lagos may prosecute traders, motor parks leaders Muritala Ayinla

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iqued by the high rate of environmental degradation and pollution of the lagoon front, the Lagos State Government yesterday said it would prosecute traders and motor parks operators found to be polluting the Lagoon front on Lagos Island.

The gover nment which accused the traders and parks operators at Ebuto Ero, Gorodomu and Oke Arin markets of disposing refuse in the lagoon, vowed to prosecute anyone caught in the habit.

Speaking during the

sensitisation campaign of the residents, traders and transporters in area, the Secretary of the Lagos State Waterway Authority, Oluwadamilola Famakinwa, who lamented the rate of pollution in Idumota axis, said that perpetrators would be dealt with according to the state's laws.

He said, "The waterways is confronted with a lot of waste both hu-

10.72

The number of fixed-telephone subscriptions per 100 inhabitants of Georgia in 2000.

Source: Itu.int

man waste and humaninduced waste. This is why we have come to sensitise them on how to keep the waterways clean.

"We are concern with the continued polluting of the waterways and improper waste disposal. That is why LASWA in conjunction with LAWMA are campaigning against this habit. It is disheartening that some of our traders, market women and men are fond disposing their refuse righ inside the lagoon.

This not good for our aquatic animals and for transportation through the waterways.

"We begin prosecution of anyone arrested for throwing refuse in the lagoon. The habit must stop, our waterways are not dump site and nobody should treat them as such. This is why will also intensify our campaign against this habit."

Famakinwa said that the agency is embarking on joint enforcement with agencies such as LAWMA, KAI to enforce the environmental laws.

"So, if they run away from us on water, we know they can't escape arrest from our sister agencies LAWMA and KAI, who operate on

land,"he added.

The Chief Executive Officer of WeCycler, Biliki Adebiyi-Abiola, said her firm decided to partner with LAWMA and LASWA in the sensitisation campaign, saying that her firm is rewarding the traders who dispose their refuse properly.

"Our firm is now rewarding anyone who dispose their waste properly. In fact, we are collecting the waste from them and reward them base on the volume of waste generated and submitted. The higher the waste you give us, the more your gift reward," she said.

Governors Dickson Seriake (Bayelsa); Governor Nyeson Wike (Rivers); Governor Ifeayin Okowa (Delta) and Governor Emmanuel Udom (Akwa Ibom), during the PDP South South PDP meeting in Asaba… yesterday

Emmanuel seeks gas as alternative fuel for automobiles

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kwa Ibom State Governor Mr Udom Emmanuel has announced plans to establish Petroleum Tank Farm for the storage of petroleum product in the state.

This, according to the Governor, is to complement the supply of the product from various Depot and ease the perennial scarcity of Premium Motor Spirit (Petrol), Domestic Purpose Kero (Kerosine) and Automotive Gas Oil (Diesel) which has affected the consuming

public over time.

The Governor announced this at Reigners Bible Church International, Uyo Village Road where he worshipped.

Governor Emmanuel who sympathized with the consuming public for the hardship experienced and the racketeering by Petroleum Dealers who hiked prices of fuel thereby generating artificial scarcity through hoarding of the product said that Gas fuel would be introduced for vehicles that uses gas explain-

ing that gas is cheaper and economical compared to Petrol and Diesel.

On electricity supply, the State Executive Chief said Oron road and Osongama axis currently experiencing fluctuation occasioned by decay in the Distribution Lines which can no longer carry the loads is receiving attention and that work is going on at a booster station along Edet Akpan Avenue which when completed would ensure steady supply of power to the area.

Ijaw communities rise against NNPC/Chevron pipeline attackers Dominic Adewole ASABA

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he coalition of Ijaw communities in Gbaramatu Kingdom, Warri South West Local Government Area of the Delta State, yesterday warned attackers of the NNPC-Chevron facilities against making their land a threatre of war.

The communities, which condemned the

multiple attacks on pipeline facilities, urged the perpetrators to desist from the dastardly act forthwith and stop giving Gbaramatu Kingdom a bad name and subjecting the indigenes to fear of possible military invasion.

In a joint statement issued at the weekend and co-signed by the Chairman of Inikorogha community in Warri South West Local Government Area, Christopher Ejoh, Chief Isaiah

Ukulor and Chief Felix Ejoh, the group expressed concern that the militants were targeting facilities within Gbaramatu Kingdom and other Ijaw communities.

They said besides the economic sabotage and environmental degradation which the perpetrators were causing the Nigerian state and entire Niger Delta region, the psychological effects on the locals and the imme-

South-South PDP govs plot to unseat APC in Edo

Dominic Adewole ASABA

T

he five SouthSouth governors of the Peoples Democratic Party (PDP) yesterday met to strategise on the best possible way to unseat the All Progressives Congress (APC) from Edo State in this year’s election.

The governors, including the Bayelsa State Governor, Serieke Dickson, his Rivers State counterpart, Nysom Wike, Akwa-Ibom State, Emmanuel Udom, Cross River State, Ben Ayade and the host Governor, Ifeanyi Okowa, at the maiden meeting, kept their tactics to recapture Edo State in abeyance in order for their opponent not to capitalise on it.

They said adequate strategies have been mapped out to reposition the party in Edo State.

Besides, the governors, who converged at the Government House, Asaba, Delta State, said they would engage President

Muhammadu Buhari, in a closed-door meeting in a few days, on the dastard activities of Fulani herdsmen across their geo-political zone.

Briefing journalists on the outcome of the parley, Governor Okowa, who said “a wide range of issues concerning Nigeria as a nation were discussed as a party,” said his colleagues condemned in strong terms the recent attack on NNPC-Chevron facilities.

“The Chevron gas pipeline vandalisation is very unfortunate, we condemn it as a party and in Delta, we have already taken it up,” the governor said.

According to Okowa, “First is the issue of security and we decided that there will be the need for us in the South-South to have a meeting with Mr. President. Those are issues we are not going to let out until we see the President.

“We also discussed issues bothering on the PDP in Edo State, one of our sister states."

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NEWS | north

monday, may 9, 2016 NEW TELEGRAPH

Kwara Assembly tasks Buhari on border security

Nasarawa to prosecute land encroachers

Ilorin

N

Biodun Oyeleye

L

awmakers in Kwara State have urged President Muhammadu Buhari, to make the nation's Border Community Development Agency functional in order to checkmate security lapses around border areas.

They also asked the Federal Government to ensure the provision of basic infrastructure in the affected communities to give them a sense of belonging.

This formed part of the resolutions of the Kwara

State House of Assembly after considering a report of the House Committee on Local Government and Chieftaincy Affairs on the motion titled "Provision of adequate infrastructure to Border Communities along Nigeria-Benin Republic in Baruteen Local Government Area of the State" raised by a member representing Ilesha/Gwanara constituency Alhaji Umar Mohammed Gunu.

Speaker of the Assembly, Dr. Ali Ahmad while reading the resolutions, of the House on the report said border communities in the state had not felt the impact

of the agency as most of the affected communities lacked access roads and other basic infrastructure.

He said this was unlike their counterparts in Republic of Benin that were provided with schools, markets, dispensary and place of worship by the government of that country.

The House equally urged the State Revenue Service to provide revenue generating facilities in Chikanda and other routes, so as to use such proceeds to provide necessary infrastructure to improve the well being of border communities

in the state.

The legislature also directed the State Ministry of Health to immediately deploy medical personnel and provide necessary facilities to the Chikanda cottage hospital for the use of immediate communities in the area.

It equally directed Baruten Local Government Council to as a matter of necessity include projects for development of border communities especially schools and boreholes in its annual budget to reduce the hardship confronting the border line communities in the local government area.

Secretary to Bauchi State Government (middle), Alhaji Shehu Ilelah, addressing pensioners during their protest over unpaid four months arrears, in Bauchi …at the weekend. PHOTO: NAN

Cheke Emmanuel LAFIA

asarawa State Government yesterday said it would prosecute land speculators encroaching on the Old Orange Market in Mararaba in the Karu Local Government Area of the state.

Gover nor Tanko Al-Makura issued the threat when he paid an unscheduled visit to the market expressing sadness over activities of land speculators in the area.

He expressed dismay that some portions of land in the area which was remarked for the

2,961

The number of refugees and people in refugee-like situation assisted by UNHCR in Macedonia at the beginning of 2010.

Source: Blatantworld.com

Zamfara approves N100m orchard programme Idris Salisu Gusau

Z Emir advocates measure to salvage education

Abubakar Abdul Birnin Kebbi

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he Emir of Gwandu and Chairman Council of Chiefs in Kebbi State, Major General Muhammadu Iliyasu Bashar (rtd), has called on the public and donor agencies to join hands with government to salvage education in the state from further deterioration.

The Emir who made this appeal yesterday at

the inauguration of a block of classrooms constructed at the cost of N7 million, as well as the donation of 6,000 books, 400 furniture and a borehole sponsored by the former state Chairman of the Nigerian Labour Congress (NLC) and Nigerian Union Teachers (NUT) Dr. Nasir Idris , (Kauran Gwandu).

He said education was the bedrock of development of any nation and a the only way to a prosperous future for young people to be leaders who

would stir the ship of the country in the future, hence it should not be left to government alone.

The emir commended the philontrophic gesture of Idris and called on the rich in the society and members of the public to emulate him. The emir was represented by the Wazirin Gwandu , Alhaji Abullahi Umar Waziri.

In his remark, the Commissioner for Education, Alh. Magawata Alero, who represented Governor Bagudu Atiku, at the

event, expressed the commitment of the state government to re-position the education sector to deliver quality education. He said the governor had approved the renovation of over 55 schools in the state.

Also in his remark, the Kauran Gwandu said that the gesture was part of his effort at contributing his quota to the development of education and also to ensure that the school which was named after him was upgraded and produce good products.

Kona is sole candidate for Taraba PDP chair –Party Sabiu Mustapha JALINGO

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head of the Peoples Democratic Party (PDP) congress in Taraba State tomorrow, to elect a new chairman and other state executives of the party for the next four years, the party has said that the incumbent chairman of the party is most favoured to emerge for another term in office.

Indications have

construction of a school and a recreational centre was being sold to unauthorized persons.

The governor warned that government would deal ruthlessly with any person or group of persons found encroaching on land belonging to government. He urged residents in the area to assist government in reporting suspicious persons found in selling land in the area Governor Al-Makura disclosed that government would soon construct a perimeter fencing of the parcel of the land, advising land speculators to stir clear of the land.

emerged that Kona who is seeking for another term, is the only candidate vying for championship.

Kona emerged as the party chairman in the 2012 congress of the party, when he succeeded Alhaji Abdulmuminu Vaki, the longest serving chairman of the party, who occupied the position for more than 10 years.

It is also believed that Kona's successful completion of his first four-year tenure coupled by his roles during

the political impasse which erupted during the tenure of former acting governor of the state, Alhaji Garba Umar UTC, he was the most favoured candidate for the position.

It was, however, gathered that the state caucus and other stakeholders of the party had met and reached a consensus that all the incumbent members of the executive councils of the party in the state at all levels, should be allowed to continue for an-

other tenure.

The decision is also said to have indicated the pattern of voting during last week’s ward and local government congresses of the party.

The decision according to a reliable source in the state is equally in tandem with the governor disposition who was said to have unilaterally bought forms for each member of the incumbent executives of the party from the party’s headquaters.

amfara State agency for Community and Social Development Project has approved a N10 million orchard project in ten pilot public secondary schools of the state, General Manager of the project, Alhahi Garba Muhammed, has said.

Receiving officials of the state Food and Nutrition Committee in his office at the weekend in Gusau, Mohammed said Zamfara was part of the first seven of the 24 states that qualified for the World Bank assisted project implementation in the country.

He said that the agency had received hundreds of application from various commu-

nity intervention projects aimed at improving the lives of citizens and eradicate poverty, adding that the agency had included nutrition orchard project among beneficiaries of the first batch funds disbursement.

Mohammed said that the disbursement of the funds to the successful beneficiaries may commence before the end of June this year.

Earlier, the state Chairman of Food and Nutrition Committee, Kabiru Muhammed Gayari, told the agency general manager that the committee had secured one million (representing 10 per cent conditional counterpart funds) for the proposed establishment of schools orchard programme in ten public schools of the state.

Gunmen attack Taraba villages, kill six Sabiu Mustapha JALINGO

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t least six persons were killed and many others wounded when gunmen yesterday attacked Korum, Orawua and Gidan Bature communities in Gassol Local Government Area of Taraba State.

A police Public Relations Officer (PPRO) in the state, DSP Joseph Kwaji, confirmed the attack to reporters but said

details of the incident were still sketchy.

According to the village head of Korum, the attackers attacked the village at around 2am on Sunday.

He said eight cars were burnt and several houses destroyed.

He added that many of the injured persons were receiving treatment at the MDGs Clinic in Yerima; First Referral Hospital, Mutum Biyu; and Ityav Clinic also in Yerima.

north | news

monday, may 9, 2016 NEW TELEGRAPH

UNILORIN signs N600bn solar power deal with US firm Biodun Oyeleye Ilorin

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uthorities of the University of Ilorin (UNILORIN), at the weekend, signed a N600 billion agreement with an American company, Arrow Capital, to generate 400 megawatts of solar power starting from October this year.

Chief Executive Officer of the company, Mr. Brian Travis, said at the signing ceremony that the project was conceptualised to complement the commitment of the Muhammadu Buhari administration's commitment to investment in solar energy, adding that a similar move by the United States govern-

ment had significantly improved job creation in the power sector.

An obviously elated Travis said UNILORIN was chosen for the project because it has a record of stability needed for such a huge investment and also has two power lines running across its vast expanse of land.

"The fact that UNILORIN has a history of not having gone on strike for 16 years gave us the confidence that it is a good location; that is the type of facility we needed for a project of this magnitude," he said.

Travis, as well as the institution's Vice-Chancellor, Prof. AbdulGaniyu Ambali, confirmed that UNILORIN only needs four megawatts to enjoy uninterrupted power sup-

ply adding that remaining megawatts would be uploaded to the national grid for distribution to consumers in Lagos and Kano axis.

Travis commended the quick response his firm received from the university's leadership when the proposal was initially broached, saying it demonstrated a commitment to positive growth and an indication that what the Federal Government seeks to achieve in the power sector is possible.

In his remarks, Ambali described the agreement as historic, expressing delight that the project would benefit his institution significantly because of its current huge involvement in biomedical research and postgradu-

ate studies, which needs adequate power supply to make them globally competitive. He also expressed delight that the university is not making any financial commitment to the project.

He said: "The company intends to build a solar panel assembly here and it will expose our engineering students and entrepreneurship centre to train middle level manpower that will be needed for the market.

They intend starting next week and we believe that by October, it will be part of what the university will commission."

The ceremony was witnessed by principal officers of the university as well as all heads of the labour unions in the school.

Kano DISCO: No more casualisation of workers Muhammad Kabir Kano

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espite the huge losses recorded in running costs and the lack of sufficient energy to allow for smooth operation, the Kano Electricity Distribution Company (KEDCO) has assured its workers that there will be no more sacking of its workers; neither will there be casualisation of workers in the company.

It said rather, the company plans to employ 1000 new staff that would boost operations.

The Managing Direc-

tor of the company, Mr. Jamil Isiyaku Gwamna, told the national leadership of the National Union of Electricity Employees that the era of casualisation of workers in Kano Electricity Distribution Company is over. This he said is because retrenchment only causes enmity and in most cases don't solve one's problems.

He said rather than retrench workers, the company met and evaluate its performances and agreed that the idea is old and only enough staff could give the company the resources it needs.

CONFIRMATION/change OF NAME

Akwaowo

I formerly known as Miss Itoro Okokon James now wish to be known and addressed as Mrs. Itoro Emmanuel Akwaowo. All former documents remain valid.

The general public should please take note.

Pereyeibo

I formerly known as Warri Grace Seifegha now wish to be known and addressed as Warri Cordelia Pereyeibo. All former documents remain valid. UBA bank Plc and the general public should please take note.

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Olamide

Internally displaced persons (Idps) at the makeshift houses in Dikwa headquarters of Dikwa Local Government Area of Borno State.… yesterday.

PHOTO: NAN

Ortom: No plan to reshuffle cabinet now Cephas Iorhemen MAKURDI

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enue State Governor, Samuel Ortom, has denied any plan by him to reshuffle his cabinet now, but that he would not hesitate to drop any member of his cabinet who fails to perform.

The governor, who stated this while fielding questions from newsmen in Makurdi, said those agitating that he should

carry out the exercise should exercise patience as he is comfortable with the crop of people he has for now.

"I have no intention to carry out cabinet reshuffle for now, and l want to say it clear that those agitating for such an exercise should wait, but if I find any of my appointees wanting in the discharge of their duties, I will drop that person immediately," the governor warned.

Alluding to the report

AUN dons embrace Islam in Adamawa Ibrahim Abdul Yola

I

slamic groups and Muslim communities in Yola, the Adamawa State capital, at the weekend, celebrated the conversion of three associate professors of the American University of Nigeria (AUN) to Islam.

The three professors embraced Islam as their new religion during a congregational prayer at the AUN Academy Mosque

situated outside the university's premises.

While conducting the ceremony of their conversion, the Chief Imam of the Mosque, Ustaz Dauda Bello, prevailed on Muslim faithful to consider the three converts as their brothers and accord them all assistance that will enhance their faith in the religion.

He said: “It is recommended for all Muslims to embrace the morals and good teachings of the religion, such virtues are ca-

by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) of alleged diversion of over N70 million bailout money meant for the payment of workers’ salaries, for which the anti-graft agency said it was investigating, Governor Ortom said he is ready to face the ICPC. "My government has no intension to commit fraud, the balance of the bailout money at both the

state and local government is intact, the workers that are yet to be paid are those we believe have questionable employment letters, but we are saying that if you know you have a genuine employment, come and clear yourself and get paid, but such people are not coming, but their monies are intact, anytime they are verified as genuine staff, they will be paid so that is where we are.

PUBLIC NOTICE

TREASURE OF CHRIST BEAUTY MINISTRY This is to inform the general public that the above named has applied to the Corporate Affairs Commission for registration under part "C" of the Companies and allied Matters Act of 1990.

The Trustees are: 1. Abia, Samuel Essien 2. Ekanem, Esther Mandu 3. Ekere, Patience Johnson 4. Umoh, Christian 5. Okorie, Chris Chijioke

- Chairman.

- Secretary.

- Member.

- Member.

- Member.

AIMS AND OBJECTIVES 1. To spread the undiluted word of God. 2. Reaching the global world with the message of our lord and saviour Jesus Christ.

3. To organise conferences and seminars that will help develop the minds of our citizen.

Any objection to the registration should be forwarded to the RegistrarGeneral, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication.

SIGNED: ABIA, SAMUEL ESSIEN –CHAIRMAN

41

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This is to confirm that the names Oliver Elem Emmanuel, Elem Nnaemeka Stanly and Elem Nnaemeka refer to one and the same person. That henceforth I wish to be known and addressed Elem Nnaemeka Stanley. All former documents remain valid. Keystone bank Plc and the general public please take note.

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PROPHETIC GRACE LIBERATION MINISTRY

This is to inform the general public that the above named has applied to the Corporate Affairs Commission for registration under part "C" of the Companies and allied Matters Act of 1990.

The Trustees are: 1. Rev. Dr. Chinedu Abraham Sylvanus.

2. Henry Christopher.

3. Okey Arthur Chukwudike.

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5. Abel Adokeye.

AIMS AND OBJECTIVES 1. To win souls for the kingdom of God. 2. Taking the gospel to the end of the earth.

3. To spread the gospel of Jesus Christ.

Any objection to the registration should be forwarded to the RegistrarGeneral, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication.

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The General Public is hereby notified that the above named has applied to the Corporate Affairs Commission for the registration of trustees under Part C of the Companies and Allied Matters Act 1990.

The Trustees are: 1. Azike Chinyere Blessing – Chairman/Founder 2 Peter Olagunju - Secretary 3. Azike Nnamdi AIMS AND OBJECTIVES 1. To identify and develop special skills and abilities of children with down syndrome through formal and informal education.

Any objection to the registration should be forwarded to the Registrar-General, Corporate Affairs Commission, plot 420 Tigris Crescent, off Aguiyi Ironsi Street, Maitama, Abuja within 28 days of this publication.

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WORLD \ NEWS

MONDAY, MAY 9, 2016 NEW TELEGRAPH

Thousands take to streets in Greece ahead of reform vote

T

housands of protesters took to the streets of Athens yesterday as Greece’s parliament prepared to vote on a controversial tax and pensions overhaul which has sparked mass opposition.

Police said almost 15,000 people turned out to March in Athens and the second city of Thessaloniki against the measures demanded by the EU and IMF that the government is seeking to adopt ahead of a crunch

meeting of eurozone creditors in Brussels today.

The reforms was to be voted later yesterday would reduce Greece’s highest pension payouts, merge several pension funds, increase contributions and raise taxes for those on medium and high incomes.

The austerity measures are part of a package demanded by the European Union and International Monetary Fund in exchange for a 86 billion euro ($95 billion) bailout agreed in July, the

third for the debt-laden country since 2010.

Central Athens was largely closed to traffic with a significant police presence in the city although numbers were significantly down on February protests when 40,000 people marched in Athens alone.

“People are tired and disappointed by the leftist government in power... the rallies have not had the scale we had expected,” said Maria K, a private sector employee in her fifties who claims

to be owed 30,000 euros ($34,000) in back pay from her employer.

She also blamed the Orthodox Easter holidays for reducing the numbers at the protests.

The communist-leaning PAME trade union was the best represented group with as many as 7,000 supporters in Athens and 6,000 in Thessaloniki, according to police. “Social security, public and compulsory for all. The plutocracy must pay,” said the union’s banners.

A concert protesting the

reforms was planned for yesterday evening on Syntagma Square close to the Greek parliament. Protesters aligned with the GSEE private workers’ union chanted: “No to the dissolution of the social security system.”

Prime Minister Alexis Tsipras defended the reforms on Friday, telling lawmakers from his leftwing Syriza party -- which holds a slim majority with 153 seats in the 300-seat parliament -- that they would spare the poorest.

Death toll in Kenya building collapse rises to 49

K

Protesters on the streets of Athens

Egyptian court recommends death sentence for two Al Jazeera journalists

A

n Egyptian court yesterday recommended the death sentence against six people, including two Al-Jazeera employees, for allegedly passing documents related to national security to Qatar and the Doha-based TV network during the rule of Islamist president Mohammed Morsi.

A verdict on Morsi, ousted by the military in July 2013 after one year in office, and four other defendants in the case, will be announced June 18, according to judge Mohammed Shirin Fahmy. Morsi’s co-defendants include two top aides from his one year in office.

The two Al-Jazeera employees identified by the judge as news producer Alaa Omar Mohammed and news editor Ibrahim Mohammed Hilal were sentenced in absentia

along with Asmaa al-Khateib, who worked for Rasd, a media network widely suspected of links to Morsi’s Muslim Brotherhood. The Brotherhood was banned and declared a terrorist group after Morsi’s ouster.

Mohammed and Hilal, who are not in Egypt, would be retried in the event of their surrender to Egyptian authorities. “Al Jazeera media network rejects the absurd allegations that they (Mohammed and Hilal) were in collaboration with the elected government of Mohammed Morsi,” a spokesman for Al-Jazeera said in an email to The Associated Press. Egypt’s relations with Qatar have been fraught with tension since the ouster of Morsi, who enjoyed the support of the tiny but wealthy Gulf state. Cairo also accuses Al-Jazeera’s news coverage of Egypt and elsewhere in

the Middle East of bias in favor of militant Islamic groups. Last year, President Abdel-Fattah elSissi pardoned two imprisoned journalists from the Al-Jazeera English news network.

Mohamed Fahmy, an Egyptian-born Canadian, and Egyptian Baher Mohamed were arrested in December 2013. They were sentenced last year to three years in prison for airing what a court described as “false news” and coverage biased in favor of the Muslim Brotherhood.

The prosecution of the two, along with Australian Peter Greste deported in February last year drew strong international condemnations. Their long-running trial was entangled from the start with the wider political enmity between Egypt and Qatar following Morsi’s ouster.

EU referendum: Gove, Osborne exchange blows

M

ichael Gove has clashed with cabinet colleague George Osborne after he said the UK could pull out of the EU’s single market without damaging trade. The justice secretary said the UK would not be “punished” for leaving the EU by having tariffs placed on its exports.

He said he could “not imagine” Germany putting up trade barriers which would threaten their own imports into the UK. But the chancellor said this would be a “catastrophe” in terms of lost jobs and could “wreck the economy”. He also

warned of a “significant shock” to the housing market in the event of the UK leaving the EU. The battle has resumed in the EU campaign after Thursday’s elections, with just over six weeks to go to the 23 June referendum which will decide whether the UK remains in or leaves the EU. Attention has focused again on the impact of leaving on the UK’s trade with the rest of the EU and what its trading relationships will look like - with Mr Osborne and Mr Gove - key figures on opposing sides of the argument - wading in.

The Remain campaign has argued the UK would have a couple of years to negotiate a totally new

relationship with the EU or face potentially punitive tariffs on its goods in the absence of any formal agreement.

But, in an interview on the Andrew Marr show, Mr Gove reiterated claims he first made last month that the UK could have the best of both worlds by being outside the EU’s single market.

While the UK would no longer be bound by EU regulation, legal judgements and free movement rules it would, in reality, still have access to the EU’s internal market of 500 million people since free trade across the European continent would not suddenly come to a halt, Mr Gove said.

enyan authorities said yesterday the number of people killed when a multi-storey residential building collapsed in the capital Nairobi more than a week ago had risen to 49 after more bodies were pulled out of the rubble.

The six-storey building in Huruma, a poor neighbourhood in the city, was constructed near a river and had been condemned by the authorities but it is unclear why it remained occupied. It tumbled down in a heavy downpour on the night of April 29.

“Seven more bodies were retrieved at the collapsed building over the weekend, bringing

the death toll to 49,” Japheth Koome, Nairobi police commander, told Reuters. He said the number of those rescued now stood at 140 and that a rescue operation continued at the site.

The disaster was the latest of its kind in a rapidly expanding city where enforcement of construction codes is lax and violations are rarely punished. Several other buildings in Nairobi have collapsed in recent years although with fewer deaths.

The building’s two owners and three local officials have been questioned by police but were released on bail on Wednesday without being charged.

Canada wildfire: Smoke alerts in Saskatchewan

A

ir quality warnings have been issued for Saskatchewan and Northwest Territory in Canada as a huge wildfire continues to spread in Alberta.

Locals have been advised to close windows and doors due to smoke. Now in its seventh day, the blaze has doubled in size, fuelled by hot weather and tinder-dry terrain.

It covers an area of more than 700 sq miles (2,000 sq km) and officials say only significant rainfall will be able to bring it under control. One report said the blaze had already spilled from the province of Alberta into neighbouring Saskatchewan but this has not been confirmed.

Two fires have been approaching the border, the closest about

22 km (13 miles) away, officials told CBC. Chad Morrison of the Alberta Wildfire authority said it was moving away from communities and some rain was due yesterday.

The blaze prompted the mass evacuation of 80,000 people from the oil city of Fort McMurray, most of who fled south. About 25,000 headed north after the mandatory order to leave was issued.

Most have since been escorted south by road or air and the Premier of Alberta, Rachel Notley, said she hoped to complete evacuations by the end of the yesterday. The fire is expected to be the most expensive natural disaster in Canadian history, with insurance costs alone already running into billions of dollars.

Taiwan government accuses China of interference

T

he incoming Taiwanese government yesterday accused China of “political interference” after a senior Chinese official cast doubt over the island keeping its observer status at the World Health Organisation if bilateral relations deteriorated further.

China and self-ruled Taiwan underwent a rapprochement under the outgoing government which was run by Chinafriendly Nationalists, but ties have begun to strain with their successors, the independenceleaning Tsai Ing-wen and her

Democratic Progressive Party (DPP).

Tsai and the DPP won landslide presidential and parliamentary elections in January, in part on rising anti-China sentiment on the island. She has said she will maintain the status quo with China, but has never conceded to a key bilateral agreement, the “one China” principle.

Under this agreement with the Nationalists, Taiwan and China agree they are both part of a single China although both sides lay claim to being its legitimate government.

43

MONDAY, MAY 9, 2016 NEW TELEGRAPH

Sport

Sport News

Did you know?

Musa ready for Mali, Luxembourg

That Manchester City failed to win any of their eight Premier League games against the top five teams this season, drawing three and losing five

International Sport PSV pip Ajaz to Dutch title

44 45

Blessing Okagbare, Nigerian sprinter

Ajibade Olusesan

A

former athlete and former commissioner for Sports in Edo State, Brown Ebewele, has described the High Performance Centre initiative of the Ministry of sports as a big fraud.

There are two High Performance Centres located in Port Harcourt and Abuja. That of the Garden City is for athletics while the one in the FCT is for all sports.

Ebewele argued that the concept of the HPCs was not aimed at development but it was a means to enrich some greedy and insensitive people in the system.

The Olympian was speaking during his presentation to the Sports Reform Committee headed by Godwin Kienka at the weekend in Abuja.

"The so-called 'high performance centre' in Port Harcourt is a fraud and if the ministry does not step in and the athletics body that provided the grant goes to see that contraption, the country may lose further support," he said.

Ebewele advised further that Nigeria should make use of its abundant talents better in various fields to get results.

"Nigeria is the only country in the world that does not use her best in nearly all fields of public endeavor especially sports. The

The Sport Team

Ebewele: Administrators greedy, insensitive Ebewele

... says High Performance Centre a fraud

country will go to the Olympics and come back empty handed and the federation presidents will turn around and blackmail and blame the ministry for their failure "Nigeria will not make any significant progress as long as the civil servants drive the sports development process."

In his presentation, Akinloye Oyebanji, former director NTA Sports, said that the future of the youth should be the main focus of any sports development strategy

telling experience that Nigeria did not appear to have learnt from, the former director said, "At the 1988 Seoul Olympics, Nigeria went with a 400man contingent and got a standing ovation during the match-past because of her flamboyant attire.

Surinam went with a fiveman contingent and were virtually scoffed at during the match-past. At the end

of the Games Nigeria was not on the medals table while Surinam was up there with one gold medal from swimming. Twenty-four years and many Olympic circles later, Nigeria went to the London Olympics and came back empty handed.

"We cannot continue to do things the same way and expect a different result." Oyebanji said.

Iheanacho, Iwobi share points as Arsenal hold Man

Adekunle Salami

Emmanuel Tobi

Group Sport Editor

T

Emmanuel Tobi Assistant Sport Editor

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

Iheancho (right)

Š Daily Telegraph Publishing Company Limited

and the nation should provide the enabling environment for youths to create wealth with their talents.

"There are models and standards all over the world that we can learn from. Early scouting and scientific programming should be key," Oyebanji who worked for 30 years as a sports journalist said.

Recounting a very

here was no victor no vanquish as Super Eagles duo Kelechi Iheanacho and Alex Iwobi shared points with Arsenal forcing Manchester City to a 2-2 draw on Sunday.

Both players who were on the starting list, failed to perform up to expectations as Iwobi was replaced by Theo Walcott in the 59th minute while

Iheancho who wasted a scoring opportunity gave way to Raheem Sterling in the 71st minute.

Sergio Aguero put City in front after only eight minutes with the Argentine cutting in from the right and sending a fine left-footed strike inside Petr Cech's near post.

But Arsenal were level just two minutes later as Olivier Giroud was given the freedom in the penalty area, heading home an

Djokovic claims Madrid Open

Iwobi cross from a corner.

City were back in front in the 51st minute, Kevin De Bruyne going on a solo run before finding the bottom corner from the edge of the area -though goalkeeper Petr Cech should probably have done better.

But the Gunners again hit back in the 68th minute, Giroud with a lovely layoff for Alexis Sanchez to run on to and score with ease past Joe Hart.

}45

44

SPORT NEWS

MONDAY, MAY 9, 2016 NEW TELEGRAPH

Musa ready for Mali, Luxembourg Azeez Ibrahim

C

SKA Moscow star forward Ahmed Musa has confirmed his availability for the Super Eagles friendlies against Mali and Luxembourg.

Officials have expressed fears over Ahmed Musa’s availability for the friendlies, but after several frantic calls the player himself assured he will feature

for the country.

One of Ahmed Musa’s representatives told AfricanFootball.com the misunderstanding may have been caused by the fact the player has to now apply for a new Schengen visa as his previous one has expired.

“Ahmed is confirmed for the Eagles matches, he only has to

renew his Schengen visa for him to fly out to France for the match against Mali,” said the player’s representative.

The Eagles have up till the afternoon of May 25 to report in Rouen ahead of their first game against Mali.

They will then fly out to Luxembourg for the second game on May 30.

Edomwonyi rescues point for Sturm Graz

B

Musa (left)

right Edomwonyi scored on Saturday to rescue a point for Sturm Graz in the 1-1 draw with the leaders, Red Bull Salzburg in the Austrian Bundesliga.

The Nigerian striker netted in the 70th minute to cancel out Valon Berisha’s opener for the hosts in the 15th minute in front of 11,327 supporters at the Red Bull Arena.

24 teams for Abesan Cup

T

he 2016 Abesan Cup will kick off on May 29 at various centres within Lagos State.

Coordinator of the annual biggest grassroots programme, Tayo Adeyemo, said matches would take place at Keda Field, Abesan Estate, Shalom schools Baruwa Ipaja, Amoo Youth Centre Agege and Igando Youth Centre.

He said the competition which started in 1999 has discovered the likes of Taiye Taiwo, Pius Ikedia, Mutiu Adegoke and Haruna Lukman.

A total of 24 teams are expected to participate including defending champion Igando Academy. The top three at the end of the competition are to share the sum of N600,000 courtesy of the grand patron, Mrs. Clementina Doregos, Proprietress of Doregos Private Academy.

In a related development, Arise and shine oil has donated 100 match balls to the organisers.

Making the presentation, the C.E.O. of Arise & shine, Ponle Ademola, said the gesture was part of the company's corporate social responsibility. Ademola also pledged undisclosed cash donation to the organisers

and commended them for helping to reduce crime rate in Alimosho Local Government of the State.

Some of the clubs expected to participate are Igando Academy, Agbala Itura Footbal Club, Rozle FC, Crown Star, Mighty Sparrow, Regent FC, Mighty Jets, C.M.C, Covenant, Adonai, Future Heroes, Santos, Jesus Answer, Anointed F.C. and a host of others. Apart from the prize money, Jerseys, Medals and Souvenirs will be also be given out by the organisers.

A

Edomwonyi

ITTF Nigeria Open:

Egypt’s Magdy eyes title defence Ajibade Olusesan

A

frican U-21 men’s singles champion, Egypt Shady Magdy, has expressed confidence in his quest to defend his title at the forthcoming ITTF Premier Lotto Nigerian Open billed for the Teslim Balogun Stadium in Surulere, Lagos.

The Egyptian who won the 2015 title at the expense of Nigeria’s Ojo Onaolapo made headlines at the Kuwait Open when he caused three upsets in a row to make it to the last four

Magdy

Dutch wins Dayak Tennis ntal van Der Duim of the Netherlands defeated Ilija Vucic of Serbia 6-4, 6-2 to emerge winner of the inaugural Dayak Tennis Championship in Abuja at the weekend.

The match which drew personalities including FCT Minister, Mohammed Bello, and Nollywood actor Osita Iheme, saw the sixth-seeded Dutch broke the Serbian qualifier in the fifth game of the opening set and he repeated the same feat twice in the fourth and sixth games of the second set to claim his second singles title at the ITF Pro Circuit tournament hav-

Edomwonyi’s effort was an excellent solo goal after he received a pass from teammate, Cheralampos Lykogiannis.

The 21-year-old forward has now scored seven goals in 25 league appearances for Sturm Graz this season.

Sturm Graz stay in fourth place on the league standings with 47 points from 34 matches.

ing won the first leg of the Tombim Abuja Open.

World 1303 Vucic, a qualifier, who halted the run of Mohamed Safwat of Egypt in the semifinal, could not match the number 355 ranked Van der Duim, who won all his matches without dropping a set - a repeat of his unblemished run to his first title two weeks ago.

Bello, who was the special guest for the final, thumbed up the sponsors declaring that "Since tennis is a universal sport, this is a Nigerian project because with players from over 25 countries.

of the U-21 men’s singles event.

“My plans are to retain the U-21 title and to reach the peak in the men's singles. I will try to do my best to at least by claiming the two titles; it is going to be hard and why not?

It is not easy at all as everyone now is looking forward to beat me being the African U-21 champion and with my most recent results, I must admit that it is not going to be easy at all in Lagos because Nigeria has a lot of good players,” Magdy said.

Enyimba star dedicates goal to new baby Charles Ogundiya

E

nyimba’s defender, ThankGod Ike, on Sunday dedicated his winning goal against Niger Tornadoes to his new born baby boy.

The former Warri Wolves defender’s wife was delivered of a baby boy on Saturday with the player getting on the score sheet for the second weekend running in a 2-1 victory against Tornadoes.

“My joy knew no bound getting the winning goal for the second time running, and I want to dedicate the goal to my son who came to the world on Saturday,” he said.

“We played a hard game against Tornadoes like we did against Kano Pillars in our last game where I also scored the winning goal.

“I hope to score against MFM on Wednesday before going back home to my new born child.”

Ene Okon to get red card before burial

T L - R: Parent of Special Olympics Nigeria athlete, Comfort Oni; athlete Jephthat Oni, Mojisola Saka, Chief Operating Officer, Soulcom Communications Limited; Adeola Oladugba, Sports Director, Special Olympics Nigeria; Yvonne Okoye, Programmes Director, Special Olympics Nigeria at the 2016 World Malaria day celebration in Lagos... yesterday

he late Super Eagles midfielder, Ene Okon, will receive posthumous red card during a match on May 13 as part of his burial rites.

The burial programme from the deceased family obtained by journalists in Calabar on Sunday indicated that the deceased would be issued a symbolic red card during the match preceding his burial.

The match between Anantigha and the class of old Calabar Rovers from Akwa Ibom is expected to be handled by the Nigeria Referees Association at the U.J. Esuene Stadium, Calabar.

The Nigeria Football Federation had announced that the former Nigeria international player Ene died at the age of 47 years on March 15 after a brief

illness.

Until his death, Ene was Head Coach of UniCem Rovers, formerly Calabar Rovers, where he was a distinguished, talented midfielder who got a call-up to Nigeria’s senior national male team.

The former Nigerian midfielder will be buried on May 13 at the Hawkins Cemetery, Calabar, after lying-in-state at the U. J. Esuene Stadium.

INTERNATIONAL SPORT

MONDAY, MAY 9, 2016 NEW TELEGRAPH

45

Amir Khan knocked out in sixth round

S

aul Alvarez knocked out Great Britain's Amir Khan in the sixth round to retain his WBC middleweight title in Las Vegas last night.

Twenty-nine-year Khan, who jumped two weight divisions to challenge Alvarez, actually dominated the opening five rounds of the contest.

However, with 23 seconds of the sixth round remaining, the Englishman left himself exposed and the champion punished the error with an overhand right to the chin.

It was a shot that rendered Khan unconscious as he hit the canvas and was subsequently counted out.

It means that Mexico's Alvarez now has 47 wins to his name, 33 of which have come via knock-out.

After the fight, Khan took to Twitter to reassure his supporters that he had suffered no ill effects.

PSV Eindhoven's players celebrating with the Dutch Eredivise shield after retaining their title at Zwolle

PSV pip Ajax to Dutch title P

SV Eindhoven defended their Dutch league title in dramatic fashion by beating PEC Zwolle 3-1 on Sunday as Ajax could only manage a 1-1 draw at second-bottom De Graafschap.

Ajax went into the final day of the season ahead of PSV on goal difference and only needed to beat De

Graafschap to seal their 34th Dutch league title.

Amin Younes gave Ajax the lead in the 16th, but Bryan Smeets leveled the scores 10 minutes after the break and Ajax could not break through for a winning goal in the remainder of the second half.

In Zwolle, Juergen Locadia opened the scoring and

Real, Atletico receive 20,000 tickets each for Milan final

R

eal Madrid and Atletico Madrid will each receive 20,000 tickets for the 2016 Champions League final in Milan.

San Siro, which will host the showpiece event on May 28, has a capacity of more

EPL TABLES Team

P

PTS

1 Leicester

37

80

2 Tottenham

37

70

3 Arsenal

37

68

4 Man City

37

65

5 Man Utd

36

63

6 Southampton

37

60

7 West Ham

36

59

8 Liverpool

36

58

9 Chelsea

36

48

10 Stoke City

37

48

11 Swansea

37

46

12 Everton

36

44

13 Watford

36

44

14 Crystal Palace 37

42

15 West Brom

37

42

16 Bournemouth 37

42

17 Sunderland

35

36

18 Newcastle

37

34

19 Norwich

36

31

20 Aston Villa

37

17

than 80,000, but that has been reduced to 72,000 for security reasons ahead of the clash between the two Spanish giants.

According to AS, almost 26,000 tickets for the final will be issued to the local organising committee, UEFA, national associations, the media and the tournament's eight sponsors.

The clash later this month will be a repeat of the 2014 Champions League final in Lisbon, when Real Madrid prevailed in extra time to lift a record 10th European Cup.

captain Luuk de Jong scored twice.

It was the second straight Eredivisie

title for Phillip Cocu's PSV and the 23rd in the Eindhoven club's history.

Djokovic claims Madrid Open

N

ovak Djokovic saw off the challenge of Andy Murray to claim his first Madrid Open title since 2011.

The Serbian was taken to three sets by Murray but eventually prevailed 6-2, 3-6, 6-3 in Spain.

Djokovic started strongly, breaking the Murray serve at the first time of asking and promptly romping to victory in the opening set, but the Scot refused to buckle.

A double fault from Djokovic in the fourth game of the second set handed Murray the opportunity to haul himself back into the contest, and the British No 1 took his chance to force a decider.

His Serbian opponent was quick to counter in the third set, breaking to go 2-0 in front, before producing another double fault to allow Murray another reprieve.

However, Djokovic

fought back once again and broke at 4-2 before holding his serve - including saving seven break points in the final service game of the match - to claim his first Madrid Open title in five years.

The win was Djokovic's 23rd against Murray, with the Scot having come out on top nine times previously.

EPL RESULTS

T

Ekeng

1-2

Southampton

Liverpool

2-0

Watford

Man City

2-2

Arsenal

Norwich

0-1

ManUtd

Bournemouth 1 - 1

West Brom

Aston Villa

0 - 0 Newcastle

C'Palace

2-1

Stoke City

Sunderland

3-2

Chelsea

West Ham

1-4

Swansea

Leicester

3-1

Everton

LA-LIGA

Djokovic

Ekeng's life could have been saved â&#x20AC;&#x201C; Agent he death of Dinamo Bucharest's Patrick Ekeng on Friday was due to first aid failures, according to the deceased player's agent.

The Cameroonian, 26, collapsed in the 70th minute of Dinamo's match against Viitorul, having been brought on seven minutes earlier, and was never resuscitated.

He was pronounced dead at Floreasca Emergency Hospital a little under two hours later.

Ekeng's agent prior to his abrupt death, Hasan Ali Eken, is enormously frustrated with how his recovery attempts were thwarted by poor facilities and

Tottenham

preparation, and hopes FIFA takes action to implement better practises in future.

"Patrick was very professional footballer and he was so young.

His life could have been saved," he told Goal. "He signed with Dinamo Bucharest few months ago and there was no problem at the medical examinations.

"Patrick is not the first player who has died on the pitch but I hope he'll be the last. The ambulance arrived late by about three minutes. Actually, there were three ambulances around the stadium but none of them had a defibrillator.

Barcelona

5 - 0 Espanyol

Celta Vigo

1-0

Malaga

Eibar

1-1

Real Betis

Getafe

1-1

Sporting Gijon

Las Palmas

0 - 0 Athletic Bilbao

Levante

2-1

Atl. Madrid

R/Madrid

3-2

Valencia

Real Sociedad 2 - 1

R/Vallecano

Sevilla

1-4

Granada

Villarreal

0-2

Deportivo

BUNDESLIGA M'gladbach

2-1

Leverkusen

E. Frankfurt

1-0

Dortmund

Cologne

0 - 0 W/Bremen

Hamburger

0-1

Wolfsburg

Hannover

1-0

Hoffenheim

H. Berlin

1-2

Darmstadt

Ingolstadt

1-2

B/Munich

Schalke 04

1-1

Augsburg

VfB Stuttgart

1-3

Mainz 05

46

SPORTS

MONDAY, MAY 9, 2016 NEW TELEGRAPH

EAGLES FOCUS

Umar, Taiwo, Oduamadi hit targets in Europe l Mikel, Moses, Emenike suffer defeat

Emmanuel Tobi

I

t was a splendid weekend for Nigerian players in Europe as they helped their clubs secure good results in their respective leagues.

In Turkey, Umar Aminu inspired a great comback for Osmanlıspor as they secured a 3-3 with Bursaspor.

Coming from a 3-0 first half goals, Cameroonian striker Pierre Webo hit target in the 62nd minute before Umar scored the second for Osmanlispor just seven minutes later, as Webo completed his brace and Osmanlispor’s come-

back in the game.

It was Umar’s seventh goal for the club this season, while compatriot at the club, Raheem Lawal, started but was substituted in the 64th minutes.

Similarly, Nigerian duo of Nnamdi Oduamadi and Taye Taiwo were on targets for their Finnish club, HJK Helsinki FC in their 2-1 victory against PK-35 Vantaa in the Veikkausliiga clash on Saturday.

Oduamadi, who is on a season-long loan from Italian club, AC Milan, opened scoring in the

Taiye Taiwo (right) celebrating after scoring

58th minute, before Finnish forward, Aleksi Ristola level scores for the home side in the 67th minute.

Former Super Eagles left-back Taiwo showed class and confidence by scoring the matchwinner for the club in the 77th minute, as the game ended 2-1 at full time in favour of the visitors.

Meanwhile, the trio of Gbolahahan Salami, Azubuike Egwuekwe and Paul Onobi were also in full time action as Kuopion Palloseura (KuPS) defeated VPS FC 1-0.

In England, Super Eagles skipper Obi Mikel started and played for 83 minutes as Chelsea suffered a shock 3-2 defeat away at Sunderland.

Chelsea loanee Victor Moses started the match as West Ham surprisingly lost 4-1 at home to Swansea City. The Super Eagles star was replaced in the 59th minute while Fenerbahce loanee Emmanuel Emenike was introduced as a substitute in the 77th minute.

Iheanacho (right)

Iheanacho's goal gets nomination for best goal

K

elechi Iheanacho’s second goal against Stoke City has been nominated for the Manchester City Goal of the Month for April just as the Nigeria youngster has praised the club’s fans.

Iheanacho scored twice in the month under review, both goals coming in the 4-0 win over Stoke City on the 23rd.

It is the second of his goals from that game that has been nominated for goal of the month.

The 19-year-old received a pass from Wilfried Bony and went past two Stoke defenders

before rounding goalkeeper Jakob Haugaard.

Iheanacho said he was grateful to the fans for the support they have shown the team, calling on them to continue the support in their final games of the season.

“The fans are very, very important - they cheer us on,” he told the City website..

“They treat me like one of their own and it is a great feeling. It is a great feeling when I hear them sing my name in the stands and I’m very happy when I hear that from them,” he said.

NIGERIAN PREMIER LEAGUE ROUND-UP Ikorodu Utd making progress – Okpodu

NPFL RESULTS Kano Pillars

2-1 Ikorodu Utd

Wikki

2-1 Nasarawa

Rangers

1-1

Warri Wolves

0-1 Rivers Utd

Heartland

2-1 El-Kanemi

Enyimba

2-1 Tornadoes

Plateau Utd

0-0 Sunshine

Lobi Stars Abia Warriors

1-0 MFM 1-0 Giwa FC

C

Shooting

Okereke Maduabuchi of F.C IfeanyiUbah against Stanley Okoro and Ndifreke Effiong of Abia Warriors

Shooting hold Rangers to 1-1 draw

I

t was a disappointing result for Enugu Rangers after failing to pick the maximum three points in a 1-1 draw against Shooting Stars of Ibadan at the weekend.

Rangers took the lead from the penalty spot in the 80th minute of the game when Chisom Egbuchulam was fouled in the box with the player dusting himself up to put his team ahead.

With the game winding up, Shooting got their own penalty in the second half stoppage time when Etim Mathew handled the ball in the box with Tope Orelope scoring from the resultant penalty kick to restore parity.

It was a big drama in Bauchi in the game involving Wikki Tourists and Nasarawa United with both teams ending the game

with ten men.

Godwin Obaje’s brace for Wikki Tourists, sandwiched by Eugene Obi’s equaliser for Nasarawa United was the difference as Wikki won the game 2-1.

Ichull Lordson of Nasarawa and Emenike Onuoha of Wikki were sent off for fighting after Obaje restored Wikki’s lead in the 75th minute.

In some of the other matches played on Sunday, Heartland defeated El-Kanemi Warriors 2-1 while Akwa United beat IfeanyiUbah 2-0.

Bernard Ovoke was the hero for Rivers United after his goal in the 52nd minute gave his team a 1-0 victory against Warri Wolves in Warri.

oach of Lagos-based side, Ikorodu United, Sam Okpodu, has said his team are already making progress after their stellar performance in a 2-1 loss against Kano Pillars.

Rabiu Ali broke the heart of the Oga Boys when he scored the winner in the 77th minute after Ikorodu United’s Yemi Olasupo had cancelled out Emmanuel Edmund’s goal for the Pillars.

Speaking after the game, Okpodu said he has noticed a big improvement in the team and added that people should watch out for Ikorodu United.

“I want to give my boys a lot of credit for their performance against Kano Pillars,” he said.

“We are not going to give up because in our last three games, there has been a lot of progress in the team which is the result of work going on in the team.

“Before the mid-season, there will surely be a lot of surprises because the boys are beginning to get their act together.”

The coach assured that the team would escape relegation at the end of the season despite their current position on the league table.

Okpodu added that there would be some addition when the transfer open in few weeks’ time as that is the only way to avoid the dreaded drop.

Stories by Charles Ogundiya

NPFL TABLES Team

P

PTS

1 Rangers

15 28

2 Kano Pillars

15 27

3 Abia Warriors

14 27

4 Wikki

14 25

5 Lobi Stars

15 25

6 Rivers Utd

15 25

7 IfeanyiUbah

15 23

8 MFM FC

15 22

9 Akwa United

15 21

10 Heartland

15 21

11 Enyimba

12

12 Warri Wolves

14 19

13 Plateau Utd

15 19

14 Sunshine

15 18

15 Nasarawa

15 18

16 Tornadoes

15 17

17 Shooting

15 17

18 El-Kanemi

15 16

19 Giwa

15 14

20 Ikorodu Utd

15 9

20

SPORT

MONDAY, MAY 9, 2016 NEW TELEGRAPH

Pat Ekeji’s Corner patrick.ekeji@yahoo.com 08159364282 (sms only)

Okpekpe race: What next after Oshiomole’s tenure?

Charles Ogundiya, who was in Okpekpe

The National Sports O Festival, the Penn Relays F

estival, Carnival, it is only in rhyme that the two programs are common. Whereas our festival was just 39 years ‘old’ and possibly demised as at 2012 when it was hosted by Lagos State, the Carnival is 122 years ‘old’ and still looking up. The Penn Relays is the ’stress test’ (called qualifiers in our own parlance), for both established (elite) and potential Olympic hopefuls as the USA track & Field Association prepare for the Games. As stated in the program brochure, ’’each year this historic rite of spring draws crowds of up to 100,000 to the University of Pennsylvania’s Franking Field Stadium. Here, they will see some of the world’s top track athletes compete and often begin Olympic careers’’ After I got back home from the final events of the 122nd edition of the Pennsylvania Relays on Saturday April 30, I decided to Google this program. In summary, I found that: The first ever Penn Relays Carnival was held on April 21, 1895 at the Franklin Field Sports Arena of the University of Pennsylvania (it is still the venue today); approximately 5,000 people attended the first meet; nine relay races were ran and only two teams were in each race; it is the longest uninterrupted collegiate Track meet as well as the largest in the United States of America; more spectators and athletes have participated in this ever growing single sport spectacle than any other one in the world. There are of course more revelations pleasing to the mind. For instance, the sponsors of this Amos Adamu program are, a mixture of 48 corporate and public sector participants and ‘‘… the target portion of the monies generated from sponsorships is used to help defray the expenses of the many College (Universities) teams which annually attend the Relays…”

The Penn Relays is our own equivalent of NATIONAL OPEN SPORTS CHAMPIONSHIP (NOSC), derived from the review of the last edition of our NATIONAL SPORTS FESTIVAL (NSF) hosted by Lagos State in 2012.

Cross Rivers State was to have hosted the next and first edition of the NOSC. It has not held and, I hope it will.

It is convenient for us to argue that we have existed for barely over 55 years whereas countries like the USA and all other countries of the advanced world have existed for centuries before arriving at where they are today, therefore we need to be ‘’patient and move at our own pace.’’ This posture is worrisome because those countries, with whom we must relate and compete on all fronts, advance in quantum leaps on all sectors. In view of this, it becomes per-

tinent and compelling for us to take a deep breath and ask ourselves if we can afford to continuously adopt the drowsy approach of ‘’moving at our own pace.’’ Singapore is a perfect example of a country that rejected the option of ‘’making haste slowly.’’ She rather confronted their ‘third world status’ boldly and within a time frame of 30 years, leap-frogged from third world to first. Put directly, we shared the same developmental level as at 1960 when we got our political independence from Britain and in fact before Singapore! This however, is a subject for our political scientists discuss.

As at EKO 2012, the National Sports Festival was 39 years old. Under my watch as the Nigeria’s Chief Sports Management Officer (DG NSC), its rules were reviewed to make the Festival more responsive to the needs and demands of such programs. Rivers 2010 was the test-run marketing collaboration effort between NSC (Rights Owners of the program) and Rivers State (Hosts).There are so many other innovations designed to make the NSF robust, and participants-friendly, for instance the introduction of redeemable Presidential trophy for first three states etc.

In its new form, the NOSC was foreseen as an epitome annual competition for category ’ A’ sports just like the Penn Relays is for Track and Field in the United States. it is held timeadjacent to the Olympic Games.

Such programs abound in all of the sports which the USA presents at an Olympic Games. Although the University of Pennsylvania produces the Penn Relays, the Proprietary Rights is domiciled with the USA Track and Field Association. Both institutions work in tandem as far as the program is concerned. There is a lesson we can and must learn from this.

Moving forward, not only MUST we design a new funding formulae for sports administration, we MUST evolve a new management system that guarantees sustainability of training and competition for our elite sports, and there are just 10 of them. These formulae shall be the stimuli required to turn around the fortunes of our sports. As the saying goes, a pattern of behavior that keeps producing mediocre results will continue on that path except there are changes in strategies and their implementation. As it is at the moment, I do not expect miraculous results from Rio, because, according to Amos Adamu, ‘’the medals have all been bought by countries that set out earlier and correctly’’.

47

kpekpe 10km Road Race came into existence four year ago at the beginning of the second tenure of the Edo State Governor, Adams Oshiomole, but as his reign comes to an end, the question is will the race go with the governor?

The IAAF Bronze Label race, the only one on the continent, had seen different winners most especially from Eastern African countries like Kenya, Ethiopia, and others.

While assuring that the race has come to stay, the governor appealed to his yet to be elected successor to continue with the project.

“After four successful years, we are expecting silver label by the next edition,” he said.

“I can tell you that Okpekpe Race has come to stay. I believe the next governor of the state will subscribe to the event and put it in his calendar.

“Let me also implore the organisers to improve on the prize money and also look at possibility of having a half marathon around the area.”

Despite this assurance, the fear among the people of the state, especially the indigene of the area, was whether the race will continue after the exit of the governor.

“I hope we are not seeing the end of the race with the exit of the governor,” a journalist based in Edo State, Banji Aluko, told New Telegraph.

“It has been a wonderful event that pulled so many international road runners to the state, and it has put the state and the Okpekpe community on the world map.

“But I just hope it will continue especially as the race was just in partnership with the state government and not the state sponsoring it.”

A typical incident about how a competition died a natural death after the exit of the state governor was the case of Obudu Mountain Race organised by the Cross Rivers State Government.

The race was the brainchild of governor Donald Duke and it was continued when Governor Liyel Imoke took over the reign of the state in 2007.

With Imoke ending his tenure in May 2015, the race that always comes up towards the end of the year failed to hold in 2015 in what was supposed to be the first edition under the new

governor, Benedict Ayade.

According to some reports emanating from the state, the people’s believe was that the governor doesn’t subscribed to the race hence his decision not to sponsor it again.

Some of the indigenes who have been enjoying the recognition the Okpekpe Road Race brought to the community urged the initiator of the race, Mike Itemuagbor, to see to the continuity of the race.

One of the indigenes simply known as Daniel, urged Itemuagbor, to make the 10km race a permanent feature of the state.

Daniel said: "What we were told was this is not Edo State event, but a privately sponsored competition supported by the state government, so I believe it should naturally continue after the exit of the governor.

"The race has brought a lot of recognition to the state and the town as a whole and I want to appeal to Padmozi and Tony Momoh (Channels TV chairman), to continue with the race."

Meanwhile, a member of the Oshiomole-led administration, who spoke with our correspondent on condition of anonymity, said it would take a lot of will power for the race to continue next year.

He called the attention of New Telegraph to the way the first edition was organised while narrating the dwindling standard of the race.

“You don’t have to be told that this might be the end of the race except there is an intervention by God,” he said.

“In as much as we all believe the race is self-sponsored, but let’s compare the number of private sponsors of the first edition and now, the number of companies partnering with them.

“We have the likes of Peak Milk, Amstel Malta, and some other big companies during the first edition, but where are they now?”

"Only Ecobank now are trying to associate with the race. The bulk of the expenses have been coming from the state government, but I don’t know if the new governor will want to continue like this putting into consideration the economy of the state and the country."

He also pointed to the absence of Nollywood artists and music stars from the fourth edition of the race as an example of how things have deteriorated.

Top three winners at the fourth edition of the Okpekpe 10km Road Race

On Marble

It is not wise to boast of being a better horse rider when one is suffering from an enlarged scrotum.

World Record

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MONDAY, MAY 9, 2016

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Enhancing Nigeria’s corridors of commerce via railways Olubunmi Aboderin

I

t is a truth universally acknowledged that a developing nation in possession of a large population must be in want of a robust transport system. (Forgive me Jane Austen).

There’s at least one concerted-effort activity that every free, hale and hearty Nigerian does every day and that is, move. From home to school, to the market, to the office; from neighbourhood to neighbourhood; from one state to another; from city to village and vice versa; from one country to another, and so on. We are always on the move and the largest chunk of this movement is by road, whether on foot, bicycle, tricycle, “okada”, by car, bus, “molue”, you name it.

Not surprisingly, the roads are usually congested. Given that many destinations are land-locked, the road appears to be the most convenient and economical way for the majority of people to complete their journey. But there has to be a more efficient, land-based, affordable mode for mass transit and there is: rail. The railway is a somewhat unexpected solution provider for seemingly unrelated social and economic issues, and it could well be instrumental in fomenting a much needed industrial revolution here, as it has done in other countries.

A fully-functioning railway network is not only useful for moving an assemblage of people from Point A to Point B, it’s also effective for transporting cargo, improving distribution logistics, decongesting traffic, boosting trade nationally and internationally, enhancing tourism and even improving inter-tribal understanding. When compared to the bulk goods movement capacity of road vehicles, rail ranks higher in safety, speed, size of cargo hold, scalability (extra train carriages can be added to a locomotive manned by one driver with one attendant), and strength in terms of durability.

One way to improve the competitiveness of our exports is to have a fullbodied nationwide railway system that can be efficiently operated on lean margins. An intercontinental rail network would be even better. It doesn’t hurt to dream, but let’s walk before we run. According to the 2016 Economic Outlook published by Economic Associates, approximately 58% of our non-oil income is generated from four industries: trade, crop production, real estate and telecoms & info services. The revenue generated by these sectors could grow exponentially if we had a robust railway system. (Assuming there is stable power supply that would complement production efforts rather than a convulsive one that frustrates the best of intentions).

While new rail tracks are laid and existing ones are expanded, gas pipes and cabling for telecoms or electricity transmission, can be laid at the same time. Yes, such infrastructural undertakings are expensive, but then so are

Transport Minister, Rotimi Amaechi

Abuja to Kaduna railway

the mental, physical, social, economic and environmental costs of sitting in traffic for 12 hours because of an overturned trailer. And besides, such mammoth infrastructural projects are excellent opportunities to attract irreversible capital input from abroad.

Since the first construction of a railway in Nigeria just before the 1900s, we have built rail lines that go from Lagos to Kano; Port Harcourt to Kano; Port Harcourt to Aba; Abuja to Kaduna, and so on. Lagos also has an intra-state rail system. Unfortunately not enough attention was given to rail transport from the mid-1960s till recent years.

Now however, there is a move to modernize existing railroads and build new ones to international standards, so much so that we are likely to have standard gauge rail, at least, from Lagos to Kano; Lagos to Calabar; Kaduna to Abuja; and Itape to Ajaokuta to Port Harcourt. But ideally, we should have railway service to every city, town, or hamlet with a population in excess of 500 people. Allowing the private sector to take over the railways will help achieve this goal. Privatising the railways will raise the much-needed revenue for governance, improve our

time to market and increase the fiscal competitiveness of our locally made goods. It makes one wonder why the 1957 Railway Act, slated for amendment since 1999 has not been attended to by members of the National Assembly.

On the website, corridorsofcommerce. com, the US-based transport network, BNSF Railway, highlights the economic, social and environmental benefits of using trains to move “agriculture, raw materials and finished goods”, over a distance of 3,422 route miles within an area covering parts of the USA and Canada, which it refers to as the Great Northern corridor. “In 2009, the Great Northern moved over 124 million tons of freight. It would take over 4.9 million long-haul trucks on highways to move that much freight.

The Great Northern saved over 570 million gallons of fuel and over 6 million tons of greenhouse gases.” Now fast forward to Nigeria and imagine what it would mean for our GDP if we could do the same here.

Currently, Lafarge uses the railways to move cement from Ogun State to other parts of the country. As our national rail infrastructure is built up, other companies will be able to embark on a similar modal shift away from transporting industrial-capacity or wholesale goods by roads, to moving those same items by rail instead. When trains become the primary method for moving cattle, tomatoes, coal, petrol, sand, boulders and other such bulk inputs, confrontations between bovine drovers and agrarian homesteaders can perhaps be minimised, less agricultural produce would perish on the way to market, there would likely be fewer car crashes, and the roads would be a lot less crammed. Developers would benefit from an increase in the value of the land around the rail

One way to improve the competitiveness of our exports is to have a full-bodied nationwide railway system that can be efficiently operated on lean margins

stations; entrepreneurs would benefit from a drop in the cost of doing business; young adults would benefit from an increase in employment opportunities; and government would benefit from an increase in the number of people able to pay tax, amongst other things.

As a developing nation with a large population, we are in a sincere need of a robust, nationwide transport system.

Perpetuating the delay in reviewing the 1957 Railway Act is ultimately selfdefeating. As part of our strategy for sustainable economic growth, we need to give active, urgent, methodological attention to building up our railways.

•Ms. Aboderin is a member of the Institute of Directors

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POLICE RECRUITMENT: I NEVER KNEW NIGERIANS LOVE POLICE –IGP ARASE

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