Monday, september 26, 2016 binder1 by Newtelegraphonline

Recession: 40% Nigerian ship owners, seafarers jobless

lTerminal operators' earnings eroded by 300% Bayo Akomolafe

igerian shipping companies are facing hard times as

over 40 per cent of vessels owned by private individuals are no longer lifting pe-

troleum products since the beginning of the year due to economic downturn.

Investigation by New Telegraph revealed that some of the vessels have lost their contracts with international oil companies

(IOCs) due to high cost of shipping. The development has resulted to some ship owners not being able to pay their

Afreximbank partners Arik to promote intra-African trade

seafarers since the beginning of the year. According to the President of Ship Owners Association of Nigeria (SOAN), Engr. Greg Ogbeifun, the CONTINUED ON PAGE 4

Sanctity Of Truth

NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

Monday, September 26, 2016

SERAP sues FG, seeks Patience Jonathan’s prosecution }4

/newtelegraph /newtelegraph

Vol. 3 No. 950

Robbers pose as government officials }9

Shekau resurfaces, mocks Nigerian Army }6

@newtelegraph1 www.newtelegraphonline.com @newtelegraph1 www.newtelegraphonline.com

N150

Dangote pledges to invest $20bn in Nigeria’s economy }2

Tinubu bombs Oyegun The suspected robbers

Shekau

…labels APC chairman a fraud

‘

Oyegun used the prayerful interlude to secretly excuse himself from the meeting… Oyegun decided to safeguard the fraud done in Ondo by perpetrating a greater fraud

‘

OSUN

- Tinubu on Ondo Primaries

‘

Dangote

The APC wants to guide Nigeria into a better tomorrow. Oyegun and the cohort of 'unchange' want to pull Nigeria back into the past where rigging and vote stealing were the old and new testaments of politics - Tinubu on APC Change

State of Nigerian roads (1)

EBONYI

‘

Mrs. Jonathan

OSUN Failed bridge at Oke-Baale area of Osogbo, Osun State.

ANAMBRA

ABIA

EBONYI A trapped Hilux van on Effium-Izzogo road, Ebonyi State. ANAMBRA Bad state of Igboukwu-Awka Etiti road in Anambra State… at the weekend ABIA Deplorable state of Umuahia-IkwuanoIkot-Ekpene Road in Abia State.

Sale of assets: We'll shut down Nigeria –PENGASSAN

lSenate to stop sale of NLNG shares, refineries, airports Study: Red wine could boost brain power

}10

NEWS

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Tinubu bombs Oyegun, labels APC chair a fraud Felix Nwaneri

he suppressed war in the governing All Progressives Congress (APC) came into the open yesterday as National Leader of the party, Asiwaju Bola Tinubu, accused the party’s National Chairman, Chief John Odigie-Oyegun, of being a fraud. Tinubu, a former Governor of Lagos State and one of the arrowheads of the party, described OdigieOyegun as a regressive element, who cares nothing for the progressive ideas upon which the party was founded and is hell-bent on guiding it into the ditch. The APC leader, in a statement by his media office, entitled: “Oyegun’s Ondo fraud: The violation of democracy in the APC,” also accused the national chairman of breaching democratic promises and vows made between APC members and the public

in a most overt and brazen display. “Oyegun has dealt a heavy blow to the very party he professes to lead. It is an awful parent who suffocates his own child for the sake of a few naira. The party was supposed to buttress APC members elected to government at all levels. Because of Oyegun’s conduct of our affairs, the party is rapidly becoming an albatross to those it was meant to help,” Tinubu said. He described the outcome of the party’s governorship primaries in Ondo State as a textbook definition of political treachery and malfeasance of the basest order, adding that the national chairman decided to safeguard the fraud done by perpetrating a greater fraud. His words: “The NWC (National Working Committee) voted six against five to cancel the fraudulent results and hold an

honest primary. For a moment, it seemed the party would restore its integrity by giving democracy a chance. However, those who sought to scam an entire state would not let the vote of 11 people spoil their enterprise. “After the NWC vote, a noticeably agitated Chairman Oyegun proposed that the NWC engage in prayer before concluding the meeting. Adhering to this chairman’s request, NWC members began to pray. Seeing that the others had taken his bait, Oyegun used the prayerful interlude to secretly excuse himself from the meeting. “Contravening the NWC decision and in violation of all rules of fundamental decency, Oyegun decided to safeguard the fraud done in Ondo by perpetrating a greater fraud. Oyegun arrogated to himself the right to submit the name of Rotimi Akeredolu to INEC (Independent Na-

tional Electoral Commission) as the candidate of the party.” He accused the party chairman of engaging in the strange math where five is greater than six. “This smacks of how the PDP conducted its affairs and orchestrated its own downfall,” he noted. Insisting that OdigieOyegun and those who conspired with him to sabotage justice and democracy in Ondo are working to wreck APC, Tinubu said: “Our party was to stand for change. Oyegun and his fellows seem to be on a different wavelength. They are the cohorts of ‘Unchange’. “The APC wants to guide Nigeria into a better tomorrow. Oyegun and the cohort of ‘Unchange’ want to pull Nigeria back into the past where rigging and vote stealing were the old and new testaments of politics. They want the people to think that there is no alternative to their reac-

L-R: Zamfara State Governor, Abubakar Yari; Lagos State Governor, Akinwunmi Ambode; Federal Capital Territory Minister, Muhammad Bello; Chief of Staff to the President, Abba Kyari and President Muhammadu Buhari, on Buhari’s arrival in Abuja after his participation at the United Nations General Assembly (UNGA71) in New York…at the weekend.

tionary system of skewed politics and imperious government. “Thus, they seek to turn the APC into a factory of the very political malpractices the people soundly rejected in the past election. To choke the APC in this manner is to kill the chance for progressive reform for the foreseeable future. Much more than the Ondo primary is at stake. Oyegun has revealed his team’s game plan: It is the destruction of progressive politics and governance on behalf of the people. “As party chairman, Oyegun was supposed to protect our internal processes and be an impartial arbiter, a person in whom all had confidence. Instead, he donned the garment of a confident man, duping the NWC, the party, and INEC in one fell blow. He has robbed APC members in Ondo State of the chance to pick in a fair manner who they believe is the best candidate. As such, he has broken faith with the party and probably has broken a few laws. The consequences of what he has done are more expansive than a man of his scope can fathom.” According to him, “Oyegun was forced to undertake his desperate fraud in broad daylight in order to salvage the wrong initiated under the lamp of darkness. Those who so actively attributed imaginary wrong to Tinubu now stand dumb and mute in the face of confirmed impropriety. They remain silent for reasons they cannot divulge. Oyegun and his ilk turn out to be

Dangote pledges to invest $20bn in Nigeria’s economy

lNamed 2016 African Business Leader Sunday Ojeme

espite the ongoing economic recession, Africa's richest man and President, Dangote Group, Alhaji Aliko Dangote, has restated his promise to invest about $20 billion in the economy in the next five years. Dangote, who stated this after receiving the 2016 African Business Leader award from a United Statesbased non-governmental organisation, AfricaAmerica Institute (AAI), said the money would go into projects ranging from a petroleum refinery, petrochemicals, fertiliser, gas pipeline and backward integration in sugar and rice production. "Over the next few years, we will be investing nearly $20 billion in projects ranging from a petroleum refinery, petrochemicals,

fertiliser, gas pipeline, and backward integration in sugar and rice production. These projects will create over 250,000 jobs and provide foreign exchange earnings and savings of $16 billion for the country and help diversify our economy. "Central to this developmental trajectory is the need for capacity building and ramping up of the quality of skills of a fast growing African workforce. “Despite the current economic challenges, we will continue to scale up the value of our investments not only in Nigeria, but also across the entire continent, because we believe in Nigeria and Africa’s potential. "We believe that it is only by sustained massive investments in infrastructure across the continent, supported with access to education, that Africa can reach its full potential," he

noted. In recognition of his immense contribution to human capital development in Africa through the establishment of businesses across the African continent, the business guru was named and presented the award at a colourful ceremony held on the sideline of the United Nations Congress held in New York. Reacting to the recognition, Dangote said he was humbled considering the pedigree of the award, which celebrates African achievement at the global stage. At the award Gala themed: “Education: The Key to Africa’s Economic Growth,” Dangote expressed delight that the Institute brought education in Africa to the front burner, noting that he had always been passionate about education because it is a weapon of liberation.

Drawing a reference from a Nelson Mandela quote that: “Education is the most powerful weapon which you can use to change the world,” the Chairman of Dangote Cement said he identified himself with laudable initiatives that seek to promote educational growth and development, particularly in Africa. He said: “As a matter of fact, I am a founding member of the Gordon Brownled Global Business Coalition for Education. "Education is also one of the cardinal areas that the Aliko Dangote Foundation focuses on. I believe quality and affordable education will address the immense social and economic inequalities that often breed discontent in many parts of Africa. "I also believe education will strengthen the human capital that will drive Africa’s development in the 21st

Century. “I am happy to note that AAI has been contributing to Africa’s development, through training and education, since it was founded 63 years ago. This award is coming at a time the Dangote Group is rapidly expanding its footprints across Africa, and into new sectors. “Last year alone, we commenced cement operations in Ethiopia, Zambia, Cameroon, South Africa, Senegal and Tanzania. By 2019, we will have operations in 18 countries with a total capacity of nearly 80MMTPA, thus making us the largest cement producer in Africa and the 6th largest in the world." Commending the organisers for the recognition, he said the award would further encourage the group to redouble its efforts as it works towards promoting Africa's economic renaissance.

gangsters adorned in the tunic of party authority.” While acknowledging that the APC national chairman is free to return to the politics of the past if he chooses to do so, Tinubu, however, insisted that Odigie-Oyegun has no right to drag the party or any of its members with him. He also said that he would rather drop the title of National Leader and remain a member of the party than hold such in a party of injustice. “I would rather not have any title, yet reside in a party that honours democracy than hold a title in a party that says it honours me, but treats justice with indecency. I find greater honour and comfort where democracy and fairness are found and respected. “Oyegun has done the irredeemable. His coup is an insult to party and to patriot, to reason and to the reform agenda of this government. To remain silent would be to admit the defeat of the reform and progressive change many have laboured to bring forth. “Oyegun’s transgressions are a warning. He is but the mercenary of forces that seek to return the nation to the old ways. If they get away with this infraction, no one would tell what or whom they will undermine tomorrow. Much is at stake. On the chopping block, lies the future of the political party in which the majority of voters had placed their confidence. To rescue the party, Oyegun must go. He has shown that he and democratic fair play cannot exist in the same party at the same time. “If Tinubu is to choose between John Oyegun and progress toward a better Nigeria, the choice has already been made. For those who care about the party, who care about Nigeria and its chance for a better tomorrow, now is the time to stand against this brewing evil before it grows to encompass all we have built and all we hold dear,” Tinubu said. Several efforts made to get Oyegun’s response last night proved abortive. He neither picked calls to his telephone lines nor responded to text message sent to him.

2.07m

The total oil production (bpd) of Nigeria in Q2 2015. Source: National Bureau of Statistics

$14.5m

The total amount of salary/winnings of Neymar (Soccer) for 2016. Source: Forbes.com

NEWS

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Sale of assets: We'll shut down Nigeria –PENGASSAN Sunday Ojeme

s the Federal Government considers selling some of the country's assets, oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have threatened to shut down the country if the

plan is eventually implemented. Describing the plan by government as a self-destructive move to Nigeria, the association said the step with which government aims to solve shortterm financial obligations was targeted at handing over the country's collective wealth to a few indi-

viduals. The senior staff trade union advised, in a statement yesterday, that instead of selling those assets, government should look for other ways of increasing the revenue base of the country, while plugging loopholes and leakages in government’s finances.

It further advised governments at all levels to pump out money through execution of capital projects and payment of workers’ salaries to revive the economy. PENGASSAN, however, cautioned the Federal Government to be wary of such plan as the association will not sit back and watch na-

Senate to stop sale of NLNG shares, refineries, airports Chukwu David Abuja

ndications emerged at the weekend that the Senate would, among other things this week, throw out the proposal by the executive arm of government to sell some national assets to generate money to fund the economy in the face of the prevailing recession. According to investigations by New Telegraph, most senators have prepared to vehemently kick against the recommendation, as the Upper Chamber, tomorrow, adopts its resolutions on immediate and long term remedies towards ending the economic recession in the country. The Senate had, on resumption from annual recess last week, engaged in a two-day comprehensive debate on how to provide short term, medium term and long term measures to address the economic challenges facing the country. The debate was prompted by the speech read on the floor of the chamber last Tuesday, by the President of the Senate, Bukola Saraki, in which he raised 14-point recommendations on how to quickly end the hardship on the citizenry, occasioned by the economic meltdown. In one of the recommendations, Saraki enjoined the executive arm of government to increase the dwindling foreign reserves by selling some important national assets, including part sale of the Nigeria Liquefied Natural Gas (NLNG) Holdings and other resources. However, most of the senators who contributed to the debate, including the Deputy President of the Senate, Ike Ekweremadu; Senate Chief Whip, Olusola Adeyeye; Ovie Omo-Agege, Sonni Ogbuoji, Shehu Sani, George Akume and Bala Na'Allah, among others, all kicked against the idea, stressing that disposing of the assets would hurt the system in future. While probing further to know what would become of the proposal in the Red Chamber, our

correspondent learnt that some senators had concluded plans to kill the initiative when the report of the six-man ad hoc committee on the debate would be considered this week. Speaking on the condition of anonymity, a member of the opposition Peoples Democratic Party (PDP), said that the proposal was as good as dead because it was not in national interest. "It is too early to be involved in any discussion that might portray one as being controversial or antagonistic, but I want to assure you that the idea of selling the national assets because of a temporary situation will not see the light of the day because it is inimical to national interest. "You even noticed that more APC senators opposed the proposal when we were doing the debate on the economic recession and how to wriggle out of it last week. The issue at hand is beyond partisan politics, ethnic or religious consideration; it is about the wellbeing of the citizenry, and so far, the Senate has thrown out all divisive tendencies to objectively help this administration tackle the economic problem." Another senator from the All Progressives Congress (APC), who also refused to speak except on the condition of anonymity, equally revealed that the Senate would not approve the sale of national assets because it would not solve the problem. He said: "Recession is not peculiar to Nigeria. We are aware that 15 nations are facing recession as we speak, but we did not hear that they sold their national assets. In fact, none of those countries mentioned sale of assets in their immediate remedies to the problem. So, why should Nigeria go the different way? "Although the executive arm was said to have

27.57

The number of fixed-telephone subscriptions per 100 inhabitants of Belarus in 2000. Source: Itu.int

adopted the idea even before Saraki captured it in his speech last Tuesday, we are the genuine representatives of the people and are, therefore, in better position to know what is best for the people. "Some people may be thinking that since the President of the Senate is in support of the idea, every other senator will go with him, but it is not so. There are times you have to objectively differ to your leader if his view is not go-

ing to favour the greater number of the citizenry. So, I for one, will definitely oppose the proposal and I believe that many others are of the same view with me." Further inquiries by our correspondent, however, revealed that the lawmakers might amend the proposal to support the sale of non-performing assets, which rather constitute liabilities or economic waste to the nation over the years.

tional assets, especially those in the oil and gas industry such as the NLNG that has become a huge revenue earner for Nigeria, refineries and shares in the upstream oil and gas JV operations, being shared among those in power and their cronies. “Any attempt to sell these national assets will be met with stiff resistance from the association, as PENGASSAN will galvanise every support, including that of our sister union and labour centres, to shut down this country by ensuring that every activity in the oil and gas sector is brought to a complete halt. “Some opportunists in the clothes of businessmen and short-sighted politicians had earlier advocated for the sales of the public assets such as the Nigerian LNG, four state-owned refineries, Nigeria’s stakes in Africa Finance Corporation (AFC), the nation’s airports and reduction of

government’s shares in upstream oil joint venture operations and this was approved by the National Economic Council (NEC)," the union noted. Reacting to the recent approval of the sale by NEC comprising of the Federal Government and the state governors, PENGASSAN, in the statement signed by the National Public Relations Officer, Comrade Emmanuel Ojugbana, said that such sales would further compound the economic and security problems in Nigeria. The association expressed surprise over the plan to sell assets like the NLNG and shares in the upstream oil and gas JV operations, which have been generating revenue and are still generating revenue for the country to date. It said: “They should tell us what will happen after the recession if we CONTINUED ON PAGE 4

L-R: Managing Director, Arik Air, Mr. Chris Ndulue; President/ Chairman, Board of Directors, Afreximbank, Dr. Okey Oramah and Chairman, Arik Air, Sir Joseph ArumemiJohnson, during the bank's visit to the airline in Lagos…the weekend.

Afreximbank partners Arik to promote intra-African trade lAirline may get more funds for expansion

Wole Shadare

resident, African Export-Import Bank (Afreximbank), Benedict Oramah, has disclosed that the firm is collaborating with Nigerian flag carrier airline, Arik Air, to promote intra-Africa trade. It said the partnership with the airline has been mutually rewarding. Oramah made the disclosure when he led his team to hold a business strategic meeting with the management of the carrier at its headquarters at the Murtala Muhammed Airport, Lagos at the weekend. Although the Afrexim Bank chief did not disclose how much it has injected into Arik and how much funding it would give the carrier, there are indications that the airline could be part of some airlines in Africa that would benefit from a substantial funding

from the bank. Manager, Syndicated and Special Finance Department, Afreximbank, Samuel Mugoya, had disclosed in a paper he presented at the 25th Annual Air Finance in Africa summit in Johannesburg, South Africa that over $20 billion has been earmarked as part of syndicated loans to assist the carriers get out of the woods. Although, Mugoya did not disclose the actual amount his firm intends to extend to Arik, a source said it could be up to $200 million, adding that the Nigerian carrier was in dire need of expanding its operations. His words: “We are working to finance Arik Air’s operations by preparing loans for the airline. Aviation in Africa is still lagging behind. For instance, Arik generates 90 per cent of its revenue in naira, but makes expenses in dollars like buying of air-

craft spare parts and maintenance of its fleet. That is a real problem not only for Arik, but other airlines. “On aviation infrastructure, Africa needs to improve in order to compete with big airlines. From my interactions with airline operators in Nigeria, they complain of the quality of runway of most of the airports.” He further disclosed that out of the 54 countries in Africa, only three, South Africa, Botswana and Mauritius, are investment rated, describing others, including Nigeria, Egypt and others as “junk rated.” Speaking to New Telegraph, the Afrexim Bank President said Arik is a long-standing client of Afrexim Bank, adding that they were in Lagos to see their client. He explained that they have been working with Arik for many years, describing the relation as a mutually rewarding part-

nership. “We have helped the company to acquire some of the aircraft they have and Arik have lived up to our expectations. We are here to see what they are doing and listen to them about their future plans because we are promoting intra-African trade. “We see Arik as strategic partner in promoting intraAfrican trade because of the role they are playing in connecting people across Africa and making sure goods are delivered across Africa.” Chairman of Arik Air, Sir Joseph Arumemi-Ikhide, said the team visited the airline to review their operations vis-a-vis the plans that they gave them. He stated that the airline has many major financial supports from reputable institutions, adding that his management gave the Afrexim Bank team summary of the progress the carrier has made in the past seven years.

NEWS

Foluso Ogunmodede

or allegedly refusing to commence criminal prosecution of former First Lady, Mrs. Patience Jonathan, by the Economic and Financial Crimes Commission (EFCC) over “$15 million unexplained wealth frozen in four companies’ accounts,” the Socio-Economic Rights and Accountability Project (SERAP) has sued the Federal Government. SERAP, in the suit initiated at a Federal High Court in Lagos, is asking the court to grant an Order of Mandamus, compelling the nation’s Justice Minister and Attorney General, Malam Abubakar Malami (SAN), to initiate criminal proceedings against the wife of former President Goodluck Jonathan. Specifically, it asked the court for a “leave to apply for Judicial Relief and an Order of Mandamus directing and or compelling the Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), to institute and undertake criminal proceedings against former first lady over $15 million unexplained wealth, frozen in four companies’ accounts.” The suit, with number FHC/L/CS/1318/2016, dated September 23, was filed on SERAP’s behalf by Mr. Adetokunbo Mumuni.

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

$15m accounts: SERAP sues FG

...seeks Patience Jonathan’s prosecution The suit, according to SERAP, was predicated on an alleged request by Mrs. Jonathan seeking to defreeze an account already frozen by the EFCC. EFCC has already established a prima facie case of money laundering against the ex-First Lady and 10 others. The agency had said that “a preliminary investigation has also indicted

Mrs. Patience Jonathan.” Already, no fewer than 11 persons, including four companies, were a fortnight ago arraigned by the agency at the Lagos division of the Federal High Court. Those already arraigned by the EFCC are a former Senior Special Assistant (Domestic/Household and Social Events to the former President), Dr. Dudafa War-

ipamo-Owei Emmanuel, Damola Bolodeoku, Dipo Oshodi; Theodora Varinik, Pluto Property and Investment Company Limited, Seagate Property Development and Investment Limited, Globus Integrated Services Limited, Trans Ocean Property and Investment Company Limited. The 11th accused person is said to be on the run. The four firms had al-

President, International Bar Association (IBA), Mr. David Rivkin (left) and Senate Minority Leader, Godswill Akpabio, at the justconcluded IBA conference in Washington DC, USA…at the weekend

Recession: 40% Nigerian ship owners, seafarers jobless CONTINUED FROM PAGE 1

situation has affected the fortune of all ship owners, leading to huge job losses. He explained that some international oil firms had reduced the number of vessels being used in the upstream sector, while some of them have lost their contracts due to high cost of doing business. Ogbeifun, who is also the Chairman of Starzs Investments Company Limited, noted: “I can confidently say that not less than 40 per cent of our members are out of jobs and affected by the distress. “The IOCs have substantially reduced the rate at which they charter vessels to between 20 and 25 per cent. Prices of goods and services have gone up, the operating cost for ship owners have gone up too. It is quite a challenge working under this inclement situation.” Investigation also revealed that investments valued at over N200 billion were being threatened by the cost of operations at the nation’s seaport terminals. It was learnt that cost of operations had risen by 328 per cent at the Lagos container terminals alone due to inflation and deprecia-

tion of the naira. Echoing him, the President of Nigerian Ship Owners Association (NISA), Capt. Dada Niyi Labinjo, said that all ship owners under his association were seriously affected by the recession. According to him, since the beginning of the year, importation of oil and gas has been reduced. Labinjo said that some of the shipping companies were unable to pay workers' salaries. He explained that the coastal trade (Cabotage) exclusively reserved for local shipping companies had been taken over by foreigners. “Everybody is jobless. All our workers are jobless. Personally, I have not paid my staff salaries since the beginning of the year due to lack of cargo to lift. "I owe all of them. The foreign shipping companies have snatched the contracts we are supposed to be doing because they have an upper hand. “Cabotage is a nursery which government should nurture to grow. But they have allowed foreigners to take over the trade. We expect government to protect the indigenous ship owners. "This is the time gov-

ernment should not give waivers to foreign vessels; except for the specialised vessels. There is no need to give waivers to tanker and offshore vessels because they are not specialised vessels,” the NISA president told New Telegraph. Spokesman for Seaport Terminal Operators of Nigeria (STOAN), Mr. Bolaji Akinola, also lamented the state of the industry. He said: “This is the reality on ground. Our earnings as terminal operators have been eroded by over 300 per cent. Our salaries and overhead costs between 2006 and now have gone up by over 1,000 per cent.” On the way forward, the SOAN president said that government was aware of what to do, having realised that the country was operating a mono-economy. He suggested that government should prioritise the shipment of agricultural commodities and solid mineral resources. Ogbeifun noted that the country needed ships to ferry agricultural produce to other countries, adding that government should look into other means of boosting the economy rather than depending solely on oil. Also, a Professor of Maritime Administration

at the Certified Institute of Shipping of Nigeria (CISN), Alex Okwuashi, suggested that government should intervene, saying that some of the ships owned by Nigerians were too old to lift cargoes. According to him, only few local shipping companies can afford to raise between $60 million and $150 million to procure between 15,000 metric tons dead weight and 125,000 metric tons dead weight vessels. Okwuashi said: “This is a major challenge; the fund is not there for private individuals or indigenous shipping companies. "How many local companies can afford this? There should be an intervention funds for the sector.” He added that the role of government was to midwife the formation of shipping consortia for different shipping markets based on interest and areas of competency of the shipping companies. He added that counterpart funding as a model of equity participation could be adopted. He said: “There are opportunities for Nigeria to join the profile of countries exporting solid minerals, fish and other marine products.”

ready pleaded guilty to conspiring to launder $15 million on behalf of Mrs. Jonathan. But SERAP, in the suit, wondered why the EFCC had refused to commence criminal prosecution against the former first lady despite its investigation, which had established a prima facie case against Mrs. Jonathan. SERAP, in the suit initiated under Order 34, Rules 1 (1) (a); 2, Rule 3 (1) and (2) (a), (b) and (c) of the Federal High Court Rules, 2009 and Inherent Jurisdiction of the Court, said: “The Attorney-General of the Federation has a duty to prosecute intentional illicit enrichment, that is, a significant increase in the assets of a public official that he or she cannot reasonably explain in relation to his or her lawful income.” It went on: “By virtue of Section 174 of the 1999 Constitution of the Federal Republic of Nigeria (as amended) the AttorneyGeneral of the Federation is constitutionally empowered to institute and undertake criminal proceedings against any person in Nigeria in respect of any offence created by or under any Act of the National assembly in superior courts in Nigeria. “The Attorney-General of the Federation has failed, neglected and or refused to institute and undertake criminal proceed-

80,454

The total volume of payment channels made by Ebillspay of Nigeria in February 2015. Source:National Bureau of Statistics

$169.44m

The capital importation of the Production sector of Nigeria in Q1 2013. Source: National Bureau of Statistics

ings against Mrs. Patience Jonathan over $15 million unexplained wealth frozen in her accounts.” However, SERAP is asking the court for the following declarations among others: *A declaration that the failure of the respondent to institute and undertake criminal proceedings against Mrs. Patience Jonathan over $15 million unexplained wealth frozen in four companies’ accounts is unconstitutional and unlawful as it contradicts and in conflict with the duties and obligations of the Respondent under the 1999 Constitution of the Federal Republic of Nigeria (as amended) and the Corrupt Practices and Other Related Offences Act 2000. *An order of mandamus compelling the respondent to urgently institute and undertake criminal proceedings against Mrs. Jonathan over $15 million unexplained wealth frozen in four companies’ accounts. No date has been fixed for the hearing of the suit.

Sale of assets: PENGASSAN threatens showdown CONTINUED FROM PAGE 3

have sold the assets to greedy individuals. Will the country go cap in hand begging those individuals who bought the assets and borrowing from them?” The union stated that the plan was ill timed and unwarranted as they do not serve national interest, adding that no nation can develop, survive or feel secure after selling all its national assets. It further explained that doing this would further mortgage the future of the country in the hands of a few cabals, noting that these individuals were just looking for advantage to further loot the country through illegal acquisition of the national assets as in the case of various oil blocks held by a few Nigerians. PENGASSAN said: "The sale of national assets is not only surprising, but also embarrassing for a nation experiencing economic recession. "The proponents of the sale of national assets are those who have been actively involved in the operations of the nation’s

economy in the past. "They were part of those responsible for the country’s current economic situation. Moreover, such sales in the past, including the power and steel sectors’ privatization, is just a shift from public monopoly to private monopoly, which has further worsened those sectors.” He pointed out that it was, therefore, the candid position of PENGASSAN that such plan should be thrown into the trash bin, stressing that government should continue to seek better ways to address the present economic challenges and reduce areas of wastages. "The long overdue calls for diversification of the economy should be driven with all seriousness; more action is required urgently than propaganda mechanism. “The Federal Government, on her part, should show seriousness on the reduction of cost of governance and demonstrable cut on foreign trips, including that of medical, as part of cost reduction measure,” it added.

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

NEWS | national

monday, september 26, 2016 NEW TELEGRAPH

Recession: We’ll deliver Nigeria, says Osinbajo Anule Emmanuel Abuja

ice-President Yemi Osinbajo, has assured Nigerians that his principal, President Muhammadu Buhari will deliver the country out the current economic recession. The Vice President stated this yesterday at the interdenominational church service organized by the Christian Association (CAN) to mark this year's 56th independence

celebration this weekend. Speaking as special guest at the event which held at the National Ecumenical Centre, Abuja, Osinbajo urged Nigerians to exercise patience with the present administration which he said means well for the citizens. "Be strong and of good faith. Every Nigerian will benefit from the new Nigeria", Osinbajo declared. "The promise of God to our nation is that we build a new Nigeria. A new country where there will be peace from the north east to the Niger Delta.

855,270

The total number of interactions on Facebook of Cristiano Ronaldo in February 2016. Source: Goal.com

"A Nigeria where our economy will experience abundance and prosperity, where there will be job for the jobless. A Nigeria where there will be honest and committed leadership, where Christians, Muslims and men of different faith, men and women from every state will live and work together in peace and harmony," Osinbajo noted. He added that "the promise is that we are on our way out of the wilderness to this land flowing with milk and honey. “As Christians, we have a duty to bring to past the will of God for our nation. "This leadership will take us across the red sea,

this leadership will take us to new Nigeria", the Vice President declared. In the message delivered by the President of Christian Association of Nigeria (CAN), Rev. Dr. Olasupo Ayokunle, the group said that the leaders needed divine revelation and to receive wisdom from God to handle the economy. According to him, the wisdom from God will prevail over the economic recession in the country. Despite these huge resources in the country, he said that Nigeria found herself in recession for a number of reasons. One of the causes of the recession, he said, was

Nigeria's inability to save during the rainy days. He said: "They were siphoning the resources for their pockets. We got into this also because of our inability to diversify. We killed our agriculture for oil. "We are all responsible for the self-imposed trouble. There is hope, help will come from above for Nigeria. There is a way out in the mind of God if we seek Him." He added. As a way out of the recession, he said that the government should go beyond party affiliations as the solutions are not limited to the members of the Federal Executive Council (FEC).

L-R: Executive ViceChairman, Nigerian Communications Commission (NCC), Prof. Umar Danbatta; President of Malawi, His Excellency Peter Mutharika and his wife, Gertrude, during the African Leadership Magazine Group awards in New York…at the weekend.

Shekau disproves military's account in new video Emmanuel Onani

he last may not have been heard of the controversy surrounding the state of health of Boko Haram's 'leader', Abubakar Shekau. The sect leader has denied earlier claims by the military, that he was "fatally wounded" in air strikes conducted by the Nigerian Air Force (NAF). In a video released over the weekend, Shekau maintained that "I'm alright, healthy and in tranquility." But the Nigerian Army, in response to the latest video, described Shekau as "mentally sick and unstable", even as it insisted that the over 200 abducted Chibok Schoolgirls, must be released unconditionally. It will be recalled that Army had, sometime in August, announced that Shekau was "fatally wounded" in air strikes carried out on target-locations in the dreaded Sambisa forest. The Army had said, among others: “Those Boko Haram terrorists commanders confirmed dead include Abubakar Mubi, Malam Nuhu and Malam Hamman, amongst others. While their leader, so called “Abubakar Shekau”, is believed to be fatally wounded on his shoulders. Several other terrorists were also wounded.” In an attempt to put a lie to the Army's position, Shekau said: "I'm alright, healthy and in tranquility", adding that, "Nothing will happen to me and I will not die until my time comes." He described "as usual lies" the Army's stand that he had been badly wound-

ed‎. Shekau, who spoke for about forty minutes in the latest video, was flanked by armed fighters. The controversial sect leader, who spoke in English, Hausa, Fulani, and Kanuri languages, further reiterated the earlier position of one of his loyal commanders, that the over 200 Chibok Schoolgirls abducted on April 14, 2014, will only be freed upon the release of detained fighters. In a swift reaction to the latest video, however, the Army reaffirmed its readiness to defend the citizenry at all times. In a statement yesterday by its spokesman, Col. Sani Usman, the Army said the video showed that the controversial sect leader was "mentally sick and unstable". The statement reads: "The attention of the Nigerian Army has been drawn to a video clip released by the so-called Abubakar Shekau faction of the remnants of the Boko Haram terrorists group this morning. "In it, the purported leader of the group in his usual insane manner made all sorts of assertions to the point of threatening various towns, groups and individuals. He also tried albeit failingly to deny the air raid by the Nigerian Air Force in which he was wounded. "The video has shown beyond all reasonable doubt the earlier suspicion that the purported factional terrorists’ group leader is mentally sick and unstable. The ranting is also another sign that the end is near for him which is part of the signs of all wicked people."

The government, he said, should be able to listen to others, promote and celebrate excellent leadership. While urging Nigerians to always put God first in all they do, he called on employers of labour to always do everything possible to pay workers their salaries and allowances. He also urged the government to always promote the politics of love and not hate. Also noting that the country is also being troubled by insurgency, militancy, unemployment, he advised that the quicker Nigeria stops paying lip service to agriculture, the better for the nation.

Why we're not investigating Dogara, by Ethics Committee Onwuka Nzeshi ABUJA

he House of Representatives Committee on Ethics and Privileges, yesterday said that its ongoing investigation into the budget padding scandal would not be extended to probing the allegations of fraud leveled against the Speaker of the House, Hon. Yakubu Dogara and other principal officers because it lacked the mandate to do so. Chairman of the House Committee on Ethics and Privileges, Hon. Nicho-

las Ossai (PDP/Delta) disclosed this on the sidelines of the 2016 Harvest Thanksgiving of the Presbyterian Church of Nigeria, First Parish, Abuja. Ossai, who represented Dogara at the occasion, said the only matter before the committee was the petition alleging breaches of the privileges of principal officers and other members of the lower chamber of the parliament. Asked if the committee was not being unfair in probing only the actions of the former Chairman of the House Committee on Appropriations, Hon. Ab-

Investigate Justice Tsoho now, Kanu tells NJC Yekeen Nurudeen Abuja

he detained leader of Indigenous People of Biafra (IPOB), Nnamdi Kanu, has petitioned against a judge of Abuja Federal High Court, Justice John Tsoho before the National Judicial Council (NJC) accusing him of committing judicial "rascality" in two different rulings given on his trial. In his petition to the Council against Justice

Tsoho, the IPOB leader called for an investigation into the rulings of the Court over the permission granted the Department of State Services to protect its witness in his trial despite earlier ruling that the witnesses could testify in the open court. In the petition written by Kanu’s lawyer, Ifeanyi Ejiofor, the IPOB leader said the conduct of the judge in his trial was a fundamental breach of his judicial oath.

dulmumuni Jibrin, even after he and his lawyers had faulted the process, Ossai said the committee had not received any letter of protest from either Jibrin or his counsel. He also stated that the committee had no petition against the Speaker and would limit itself to what it had been mandated to investigate. "That allegation (against Dogara by Jibrin) is not before the committee yet and there are channels in our rules through which petitions are presented. The petition before us today is the breaches and we will deal with such and if

we receive any other one we will deal with it. On speculations that the committee might not be fair to Jibrin since its members were appointed by the leadership of the House, Ossai gave assurance that there would be justice and fairness in its assignment. He argued that contrary to public perception, members of the Ethics and Privileges Committee were not appointees of the Speaker but were selected by the Selection Committee of the House which is made up of one person from each state.

How unregistered firm got N19bn railway contract, by Reps' committee Philip Nyam Abuja

he House of Representatives adhoc Committee on Rail contracts has discovered how an unregistered company was awarded a N19billion contract in 2011. That was even as the committee has also threatened to issue a bench warrant on Chief Executives of the Central Bank of Nigeria,

CBN and four commercial banks that failed to submit details of monies transferred to companies involved in the rail contract scam. A member of the committee, who spoke on condition of anonymity, disclosed Sunday in Abuja that company, Eser Nigeria Ltd was awarded the N19bn contract in April, 2011 when it had not registered with the Corporate Affairs Commission (CAC).

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

RETURNS ON SOURCES OF FUND SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 23-09-2016

S/NO.

SOURCE 1 IMTSO

DATE OF FUND PURCHASED 19-Sep-16

EXCHANGE RATE 337.70

AMOUNT PURCHASED ($) 1,525.64

2 IMTSO

19-Sep-16

335.50

2,235.91

3 IMTSO

20-Sep-16

336.09

5,292.71

4 ORDINARY DOMICILLIARY PURCHASED

20-Sep-16

308.00

6,409.43

5 IMTSO

20-Sep-16

335.63

2,421.73

6 IMTSO

20-Sep-16

335.50

6,977.89

7 IMTSO

20-Sep-16

335.50

4,372.43

8 IMTSO

21-Sep-16

336.97

3,659.67

9 ORDINARY DOMICILLIARY PURCHASED

21-Sep-16

310.00

80,000.00

10 ORDINARY DOMICILLIARY PURCHASED

21-Sep-16

308.00

1,000.00

11 IMTSO

21-Sep-16

335.65

2,696.55

12 SUNTRUST BANK NIGERIA LIMITED

22-Sep-16

305.50

100,000.00

13 NNPC NAPIMS

22-Sep-16

306.93

4,065,000.00

14 TOTAL EXP NIGERIA LIMITED

22-Sep-16

306.93

3,000,000.00

15 ORDINARY DOMICILLIARY PURCHASED

22-Sep-16

308.00

284.89

16 EXPORT PROCEEDS

23-Sep-16

310.00

86,000.00

17 IMTSO

23-Sep-16

335.95

18 IMTSO

23-Sep-16

338.65

1,834.31 1,294.51

19 IMTSO

23-Sep-16

339.50

976.32

20 ORDINARY DOMICILLIARY PURCHASED

23-Sep-16

308.00

862.43

21 ORDINARY DOMICILLIARY PURCHASED

23-Sep-16

308.00

896.10

22 ORDINARY DOMICILLIARY PURCHASED

23-Sep-16

308.00

4,639.61

23 IMTSO

23-Sep-16

335.87

1,381.85

24 IMTSO

23-Sep-16

335.90

1,239.69 7,381,001.67

TOTAL

RETURNS ON UTILIZATION OF FUND SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY, 23-09-2016 S/NO.

DATE OF FUND PURCHASED

EXCHANGE RATE

1 OGUNNIYI OLUWATOYIN DOLAPO

CUSTOMER/FXPD/NON-FXPD

SCHOOL FEES

19-Sep-16

345.56

940.39

2 ADEKOYA ADEYINKA OLANIYI

PTA

19-Sep-16

310.50

3,000.00

PTA

19-Sep-16

310.50

19-Sep-16

345.56

3 FASHINA OYEWALE ADEGBOYEGA 4 GTX BDC LTD

ITEM OF IMPORT

BDC SALE

AMOUNT SOLD ($)

3,000.00 2,821.16

5 OGUNNIYI OLUWATOYIN DOLAPO

SCHOOL FEES

20-Sep-16

346.13

1,323.18

6 OGUNNIYI OLUWATOYIN DOLAPO

SCHOOL FEES

20-Sep-16

345.56

3,430.51

7 ABODUNRIN AKANBI

PTA

20-Sep-16

310.50

2,000.00

8 EQUIDEB BDC LTD

BDC SALE

20-Sep-16

345.56

5,233.42

9 EQUIDEB BDC LTD

BDC SALE

20-Sep-16

345.56

1,828.80

10 EQUIDEB BDC LTD

BDC SALE

20-Sep-16

345.56

11 GTX BDC LTD

BDC SALE

20-Sep-16

346.13

3,279.32 3,969.53

12 ADEBIYI ADEGBOLA KOLAWOLE

SCHOOL FEES

21-Sep-16

346.13

283.13

13 OGUNNIYI OLUWATOYIN DOLAPO

SCHOOL FEES

21-Sep-16

346.13

586.31

14 OGUNNIYI OLUWATOYIN DOLAPO

SCHOOL FEES

21-Sep-16

346.13

719.61

15 AKRON NIG LTD

INSTANT FILLED MILK

21-Sep-16

310.50

16 SAM PHARM LTD

RAW MATERIAL FOR PLASTIC INDUSTRY

21-Sep-16

310.50

44,700.00

21-Sep-16

310.50

1,000.00

17 ISIOLAOTAN OLUBUNMI MODUPE

PTA

35,300.00

18 EQUIDEB BDC LTD

BDC SALE

21-Sep-16

346.13

4,767.17

19 SAYED FARMS LTD

SODIUM BICARBONATE

22-Sep-16

306.00

400.40

20 ADEBIYI ADEGBOLA KOLAWOLE

SCHOOL FEES

22-Sep-16

306.00

937.76

21 OJUMU OLUWAYANMIFE OLUWAMAYOKU

MEDICAL BILLS

22-Sep-16

306.00

2,100.00

22 AKINTOLA AYODEJI OLUSOJI

SCHOOL FEES

22-Sep-16

306.00

2,600.00

23 GWARZO ALHASSAN

SCHOOL FEES

22-Sep-16

306.00

2,912.50

24 ERAVAT ENTERPRISES NIG LTD

TRANGLE BRAND SPARE PARTS FOR STOVE

22-Sep-16

306.00

RAW MATERIAL FOR PLASTIC INDUSTRY

22-Sep-16

306.00

26 FUELS & BITUMEN MARKETING CO.

UPKEEP ALLOWANCE

22-Sep-16

306.00

7,000.00

27 HIGH COMMISSION OF INDIA ABUJA

HOME COUNTRY REMITTANCE

22-Sep-16

306.00

10,000.00

28 KRISHAN NIGERIA LIMITED

GRAIN GRINDING MILL

22-Sep-16

306.00

29 OLAYINKA RUFAI ABUDU

SCHOOL FEES

22-Sep-16

306.00

30 EMEL ENT. LTD

EMEL BRAND COMPLETE ORDINARY STEEL DOOR

25 TRISA NIG LTD

5,000.00 5,000.00

10,000.00 10,576.00

22-Sep-16

306.00

39,477.00

31 CYBERNETICS INTERNATIONAL SERVICES LTD UNLEADED GASOLINE

22-Sep-16

307.43

3,180,000.00

32 CYBERNETICS INTERNATIONAL SERVICES LTD UNLEADED GASOLINE

22-Sep-16

307.43

3,885,000.00

33 AYINDE ADEBUKOLA MEDINAT

PTA

22-Sep-16

306.00

1,000.00

34 KOLAWOLE TAIWO FELICIA

PTA

22-Sep-16

306.00

1,000.00

35 OKAFOR IFY ONERIARO

PTA

22-Sep-16

306.00

1,000.00

36 OKOKO OTOBONG SUNDAY

PTA

22-Sep-16

306.00

1,000.00

37 EGWELE JOSEPH

SCHOOL FEES

23-Sep-16

346.13

1,681.67

38 SHONGAI TECHNOLOGIES LTD

PRINTING FOIL

23-Sep-16

310.50

9,949.60

39 SHONGAI TECHNOLOGIES LTD

RAW MATERIALS FOE INDUSTRIAL USE - PRINTING INKS

23-Sep-16

310.50

76,050.40

40 EQUIDEB BDC LTD

BDC SALE

23-Sep-16

346.13

5,045.01

TOTAL

For further enquiries, please contact Sterling Bank Plc. Tel.: 014484481-5 or 014489470-94 E-mail: customercare@sterlingbankng.com www.sterlingbankng.com

7,375,912.87

monDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

METRO

ABIODUN BELLO abiodun.bello@newtelegraphonline.com 08023938212

...CRIME, CITY WATCH, COURTS

Lagos land speculators butcher Ogun prince

Taiwo Jimoh

uspected land speculators at Alagbado area of Lagos State at the weekend hacked to death a 29-year-old prince, Jamiu Olipede, son of Olojoru of Ojoru, Itori in Ogun State, Oba Musiliu Olipede. The deceased was said to have had a confrontation with the land speculators in his father’s house at the Federal Housing Estate, Phase 6, Surulere, Alagbado area when he met his untimely death. It was learnt that Oba Olipede and his family members had some years ago been forced out of their house before the court restored ownership of the building to the monarch.

Jamiu was said to be living in the disputed building with his mother and siblings until Saturday when some people came with alleged fresh court judgement. Confirming the incident, the state Police Public Relations Officer (PPRO), SP Dolapo Badmos, said police were on the trail of the suspected killers. The PPRO promised that the perpetrators of the dastardly act would soon be brought to book. Jamiu’s elder sister, Ganiyat, described the incident as unfortunate. She said: “On Saturday, some land grabbers led by one Adebayo and others came to our house and ordered us to vacate the building before three hours;

Lagos CP, Owoseni

that they had a court judgement on some houses in the estate. “When my late brother demanded to see the court judgement which they claimed they had, they said they had spoken with the Police Area Commander at Onipanu Ota, that they had his approval to evict us. “Immediately we called our father on the phone. He came to Lagos and went with Jamiu to the land grabbers’ office, but they insisted that we should vacate the house. They also

threatened to kill somebody if we refused to move out of the house. “Our father tried to explain to the hoodlums that the house was allotted to him by government and that they should go with him to the Federal Housing Authority (FHA) office and other allotees for more clarification but they did not listen to him. They went on threatening to pull down the building. “To our surprise, in the night the hoodlums invaded our

City Briefs

Police nab robber in military uniform Kunle Olayeni Abeokuta

olice in Ogun State yesterday said they had arrested a suspected armed robber, Michael Okafor, operating in military camouflage uniform. The police said the suspect was arrested in Sagamu area at the weekend while other members of his gang fled. The state Police Public Relations Officer (PPRO), Abimbola Oyeyemi, said in a statement that one locally-made pistol and substance suspected to be Indian hemp were recovered from Okafor. Oyeyemi, an Assistant Superintendent of Police, disclosed that the Divisional Police Officer (DPO) in charge of Sagamu, Moses Aduroja, led the operation in which the suspect was nabbed. The PPRO said the suspects were sighted in a Nissan Primera car “and the way they were

conducting themselves inside the car looked suspicious, hence they were stopped”. He said: “But as soon as they stopped, they jumped out of the car and took to their heels. They were hotly chased and one of them was arrested.” Oyeyemi added that the Commissioner of Police, Ahmed Iliyasu, had already ordered the transfer of the suspect to the State Criminal Investigation and Intelligent Department (SCIID) of the command. Meanwhile, policemen attached to Onipanu Division have arrested three armed robbery suspects terrorising Ota area. Oyeyemi, who confirmed the incident, said the suspects were apprehended after a gun duel while one Bereta pistol with batch number 1000568 with four rounds of ammunition was recovered from them. He gave the names of the suspects as Vincent Onyemachi (26),

Innocent Nnojiofor (27) and Anthony Bossy (32). He said: “Policemen attached to Onipanu Division received information that the gang was operating in Onigbongbo community of Atan Ota area and the DPO, CSP Baba Maiyaki, led anti-robbery team to the scene.”

Okafor

house and descended on Jamiu being the only man at home at the period. They butchered him. He struggled and attempted to escape from them, but the assailants ran after him and inflicted deep cuts in many parts of his body.” Ganiyat added that before Jamiu had died before they could rush him to the hospital. “The assailants were shooting into the air to scare away residents from coming out of their houses to assist us,” she said.

22 Boko Haram members, four soldiers die in attack –Army Emmanuel Onani

igerian Army yesterday said its troops killed 22 Boko Haram suspects in an attack in Borno State. The Acting Director, Army Public Relations (DAPR), Col. Sani Usman, said in a statement that the terrorists attacked the troops’ location with 36 hand grenades and rocket propelled launchers. The ensuing battle, according to Usman, also led to the death of four soldiers, while two others were wounded. He said: “About 1a.m. on Sunday 25th September 2016, some suspected remnants of Boko Haram fighters attacked our troops’ location at Logomani on Dikwa-Gambarou Road, Borno State, us-

ing 36 hand grenades and rocket propelled launchers. “Our troops fought gallantly and repelled the attack which lasted for about one hour. At the end of the fierce encounter, the troops counted 22 bodies of Boko Haram fighters. They also recovered two AK47 rifles, one FN rifle, one G3 rifles and 36 hand grenades. “Unfortunately, we lost four soldiers and their rifles as a result of the effect of Boko Haram use of rocket propelled grenades, while two soldiers were wounded in action. The wounded in action have been evacuated for further medical management. “The location have been reinforced and replenished while the troops have continued their clearance operations.”

METRO

monDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Robbers pose as Lagos govt officials

Fuel tanker falls on car, kills one Muritala Ayinla

The suspected robbers

Juliana Francis

fficials of the Rapid Response Squad (RRS), Lagos State, have arrested three suspected armed robbers, who used to pose as Lagos State government officials to dispossess people of their valuables. The suspects, Chima Joseph (24), Hassan Adamu (34) and Ibietan Oluwaseyi (41), were arrested after dragging their victim, Idi Musa, from the expressway into the bush, where they robbed him of his money and belongings. After the arrest, police recovered two master keys from them. One of the suspects, Joseph, from whom the master keys were recovered, claimed he found the keys on the ground and that he was looking for a place to put them for people to see. One of the keys, when tested, opened the doors of two Toyota Camry cars, Toyota Corolla car and a Honda car. The suspects were alleged to be part of those who used to terrorise passers-by and motorists whose vehicles develop fault near Otedola Estate on the Lagos-Ibadan Expressway. Musa, who was in Lagos for the first time, said he was on his way to Apapa from Borno State to meet his brother.

He said: “I alighted at Ojodu Berger to walk from the bus stop to Ojota. As I walked down the road towards the bridge (Otedola), I heard somebody calling from the bush, Aboki! Aboki come. I ignored the call because I did not know them. Before now, I have been warned to mind my business when in Lagos. “As I continued my journey, two of them ran after me. They held me by my trousers and dragged me into the bush. They beat me several times before searching my pockets and luggage. They took N3,000 from me. “After collecting my money, one of them threatened me. He said he was a Lagos State government official and if I ever come back there, they would arrest and send me back to my village.” After Musa was released by the suspects, he spotted ab RRS vehicle and dashed over to narrate his encounter with the men. The RRS men combed the bush and arrested the suspects. The police said: “The RRS’s surveillance teams have been on the lookout for robbers who had been terrorising people during traffic congestion in that area. More than four people have been arrested for robbing road users along that route.”

Domestic servant defiles master’s three children Uchenna Inya ABAKALIKI

n 18-year-old man at Amaechara Agbo village, Afikpo in Afikpo North Local Government Area of Ebonyi State, Ndubuisi Utom, has allegedly defiled three female children of his boss, Chukwuemeka Aja. Utom, a domestic servant, allegedly committed the crime by inserting his fingers into the private parts of the victims who are between ages of five and eight, causing them severe pains. A family source told our correspondent that the victims had screamed following the pains they passed

through and it attracted the attention of their mother who was cooking. “The woman was very angry seeing her children in pains and unable to walk. She quickly contacted her husband. Utom was arrested and handed over to the Afikpo North Divisional police to prevent the youth who were very angry from lynching him. “The victims have been taken to the hospital for treatment,’’ the source said. Reacting to the incident, the state Police Public Relations Officer (PPRO), DSP George Okafor, warned parents and guardians to be wary of their children’s movements and who they associate with.

man lost his life yesterday when a tanker carrying fuel crashed and fell on his car at Ikorodu in Lagos. Although the identity of the driver could not be ascertained at press time, it was learnt that he was trapped under the fallen tanker before he gave up the ghost. It was learnt that the accident occurred about 4:08a.m. at Ikorodu roundabout near the ‘Garage’. The Director, Lagos State Fire Service, Rasak Fadipe, the General Manager, Lagos State Emergency Management Agency (LASEMA), Adesina Tiamiyu and the South-West spokesperson for the National Emergency Management Agency (NEMA), Ibrahim Farinloye, confirmed the incident. Fadipe said the fire service deployed several fire trucks to the area to avert explosion. On his part, Tiamiyu said his agency received a distress call through

the toll free emergency number of Lagos State 767/112 regarding the accident. He said: “This prompted immediate activation of the Emergency Response Team (ERT) and other responders to the scene of the incident.” Tiamiyu said preliminary report showed that a Mack Truck with registration number AGL 664 XG laden with 33,000 litres of Premium Motor Spirit (PMS) otherwise called petrol belonging to Fort Oil, owing to overspeeding of the driver, while trying to turn at the roundabout fell on a Hyunda car marked KJA 421 AH. The general manger added that the only occupant, yet-to-be identified, trapped and died in the car. He said: “The prompt response of the emergency responders and the security operatives which include the agency Emergency Response Team, Lagos State Fire Service, Lagos State Transport Management Authority (LASTMA), Nigeria Security and Civil Defence Corps (NSCDC), Federal

Scene of the accident

Road Safety Commission (FRSC) and the police to the scene for recovery operation prevented the incident from escalating into a major disaster with the spillage and also proximity of the incident to a filling station.” Tiamiyu added that the truck was carefully lifted upright, while the body was extricated by the LASEMA Response Team with the use of light-duty equipment and subsequently taken to Ikorodu General Hospital mortuary by ERT,

FRSC and the police from Ikorodu Division. He explained vehicles were cleared off the road and handed to the police. The general manager said proper investigation would be carried out on the cause of the accident by the relevant government agencies. Tiamiyu, however, advised motorists, especially articulated truck drivers, to avoid overspeeding and also adhere to all traffic rules and regulations to avoid accident.

Mob chops off suspect’s hand for stealing TV

ecuted for inflicting grievous bodily harm on the suspect. He said: “The perpetrators are criminals. They are worse than the man. We cannot continue with this type of insanity. Jungle justice evinc-

es our institutional, social and moral backwardness. This is a manifestation of Stone Age mentality. “This man did not kill anyone, he did not rape anyone. Stealing is not a capital offence. What I find particularly repulsive is the fact that those who inflicted this permanent injury on this man and those applauding the carnage are the very people defending, canonising and worshipping corrupt politicians who are ruining their lives and looting the resources of their state. “This is bestial and hypocritical. The police should have been invited into the matter. I therefore call on the Akwa Ibom State Police Command to immediately arrest and prosecute those found culpable to serve as deterrent to other misguided members of the public who are always quick to visit mob justice on those who commit petty crimes while praising the big thieves.” Meanwhile, it was difficult to ascertain the state of the victim at press time. The state Police Public Relations Officer (PPRO), Cordelia Nwawe, said the culprit was in the police custody while taking treatment at an undisclosed hospital in Uyo.

Mr Emmanuel of Eupi and Mr Simon of Ogobia villages all of Otukpo Local Government Area of Benue State. The suspects were Abdullahi Yahaya aka Oscar, Abubakar Hussain and Kelvin Ameh aka Too Deep. It was learnt that they were arrested in Ohimini Local Government Area. Items recovered from the suspects included one automatic

pump action No. 156254, 11 cartridges, one locally-fabricated Berretta pistol with 28 rounds of live ammunition, one Navy blue Golf car with registration number KOGI LKJ 44 OCV, charms and 36,000 cash. The state Police Public Relations Officer (PPRO), Moses Yamu, confirmed the incident. Yamu said the suspects, who also confessed to the crime, had since been arraigned.

Tony Anichebe Uyo

ngry youths yesterday descended on a thief for trying to steal a television set on Ibiam Street, Uyo, Akwa Ibom State. The man and his gang had succeeded in stealing a 58-inch Plasma television from a viewing centre in the neighbourhood. The man was caught in the act while his gang members took to their heels. The angry residents chopped off his hand after beaten him thoroughly with all sorts of weapons. The residents, mainly youths, said the crime rate in the locality was too high and unbearable. According to them, robbers have The suspects been stealing flat screen television sets from owners of viewing centres regularly. The thief was lucky enough to be rescued by some policemen who stopped them from taking his life. However, a prominent Uyo-based legal practitioner, Inibehe Effiong, said those who chopped off the man’s hand should be traced, arrested and pros-

The suspect being rescued by the police. Inset: His chopped off hand

Three held for kidnapping poly bursar Cephas Iorhemen MAKURDI

pecial Anti-Robbery Squad (SARS) in Benue State yesterday arrested three persons who allegedly masterminded the kidnap of the Bursar of Idah Polytechnic in neighbouring Kogi State, Mr. James Oni. The suspects were also behind the abduction of Dr. Godwin Aba,

NEWS | national

Dominic Adewole ASABA

he Niger Delta Avengers and the factional Niger Delta Greenland Justice Mandate, have explained why the proposed ceasefire being negotiated by the former Minister of Information, Chief Edwin Clark, finally hit the rock on Saturday. The groups, in separate statements, expressed anger over the outburst of President Muhammadu Buhari in the United States of America (USA) on the state of Nigeria’s economy.

Militants: Why ceasefire collapsed

The militants wondered why the President failed to tell the world about the degradation and oppressive pillage of the Niger Delta region by successive Nigerian governments but said looters sponsored militants to make the country ungovernable. The groups also decried how the President has consistently portrayed the country in the bad light before the comity of nations. While the Avengers

DPR refutes dirty diesel racket story Adeola Yusuf

he dirty diesel racket's allegation rocking the Department of Petroleum Resources (DPR) took a new twist at the weekend as the nationwide scare forced the agency to open up on the issues after three weeks. A report by the Swiss watchdog group, ‘Public Eye’ issued three weeks ago had accused the Swiss trading companies of importing “dirty diesel” with more than 100 per cent Sulphur content into Nigeria due to an alleged collaboration of officials of the DPR and the entirely weak regulatory standards of the agency.

monday, september 26, 2016 NEW TELEGRAPH

The report, checks by New Telegraph showed, put demand for diesel in serious jeopardy nationwide. The DPR, however, at the weekend, said that its product specifications were of international standards and sometimes exceeds some of these standards. "Our attention has been drawn to an online publication quoting from a report by the Swiss, watchdog group, ‘Public Eye’ accusing Swiss trading companies of importing “dirty diesel” with more than 100 per cent Sulphur content into Nigeria and some other African countries due to weak regulatory standards."

categorically said it broke the ceasefire because the Federal Government and her agents have turned the expectations of the Niger Deltans into shameful scenes before the international community, the Greenland accused Nigeria government of fanning embers of discord via divide and rule strategy in the region. Avengers said the ceasefire collapsed two following the bombing of Bonny crude oil export line in Port Harcourt, River State.

The militia group struck brought down the 48 inch oil installation on Saturday, to signify an end to the highly speculated dialogue and negotiation between the Federal Government and the militants, being spearheaded by Clark. The elder statesman and Governor Ifeanyi Okowa convened a stakeholders meeting in Warri, to dialogue on the way forward with the Federal Government but the discussion finally hit the

rocks. The spokesman of the group, Brig. Gen Mudoch Agbinibo, said his group has been unjustifiably "fooled" by the indiscriminate targeting of Niger Delta youths each time the President visited his home place or jets out of the country. "Since the cessation of hostilities and the commitment of the PAN Niger Delta Elders and stakeholders team, the Nigerian government and her agents are turning the

expectations of the Niger Delta to shameful scenes obtainable in Nollywood and as well intimidations, blackmails and continuous profiling of Niger Delta sons and daughters. This (the destruction of Bonny facility) is only a wake up call as we may not have other way to say it better." Agbinibo reiterated his men's commitment to the dialogue and negotiations, stating unequivocally that "we are running against the peace of time".

Study: Red wine could boost brain power Appolonia Adeyemi

esearchers from the United Kingdom (UK) believe that a substance, resveratrol, found in red grape’s skin may boost mental function have commenced new research to determine the scientific evidence. The team from Northumbria University in Newcastle are examining resveratrol, which is found in red wine, and its effect on blood flow. According to a report in the independentuk, an online website, the researchers believe the substance

may boost mental function by increasing blood flow to the brain and wants to test the theory with the help of healthy volunteer subjects. Resveratrol is part of a group of compounds called polyphenols. They are thought to act like antioxidants, protecting the body against damage that can put you at higher risk for things like cancer and heart disease. It is in the skin of red grapes, but can also be found in peanuts and berries. A study on people aged 18 to 35 has already been carried out, with some participants demonstrat-

ing improved performance when their mental function was tested. However, positive results have not been consistent. The researchers believe this may be due to studies’ tendency to focus on young healthy populations already at the peak of their mental performance. They believe a stronger correlation indicating a more pronounced benefit may be found with older participants. The university, based in Newcastle, is now looking for healthy male or female participants aged between 50-70 years to assess the ef-

fects of resveratrol. Meanwhile, a second study, aiming to investigate resveratrol’s effect at altitude is also underway and requires younger volunteers. Using Northumbria University’s state-of-theart environmental chamber, which can simulate the physical effects of a range of temperatures and altitudes, the researchers will assess how participants aged 18 to 35 years perform mentally demanding tasks. They will then test to see if any resulting impairments can be overcome by consuming resveratrol.

Lawyers caution EFCC, Presidency over Jonathan Yekeen Nurudeen and Philip Nyiam

group of human rights lawyers and anti-corruption activists have appealed to the Federal Government and the Economic and Financial Crimes Commission ( EFCC) to thread softly in the ongoing investigation of some funds traced to the accounts of former First Lady, Dame Patience Jonathan. Speaking at a press conference in Abuja yesterday, the lawyers who spoke through Ugochukwu Osuagwu, lamented that the former First Lady was being subjected to media trial

which they noted was not healthy for the already weakened ethnic bond of the country. Meanwhile, a member of the Board of Trustees (BOT) of the All Progressives Congress (APC), Prince Benjamin B. Apugo, has advised that the anti-corruption should be allowed to exercise their statutory responsibility in the allegations of looting and money laundering involving the former first lady. The lawyers warned that the nation is already sitting dangerously on a keg of gun powder and that such media trial of the former President's wife could be construed to mean a direct attack on her

husband. "We advice that the President has to caution and call Magu and EFCC to order. We are not against the fight against corruption by EFCC but let it be done with decency but must not be done or seen as unleashing so much vendetta, vindictiveness and carefully planned and rehearsed acts of witch-hunt against Mrs. Patience Jonathan. “There is no need to say you are probing the wife of immediate past President. You are probing the husband as they are one. We as concerned citizens termed this media trial as a complete defamation of character against the past president" Osuagwu said.

PTAD uncovers 800 fraudulent accounts in banks Abdulwahab Isa Abuja

he management at Pension Transitional Arrangement Department( PTAD) has closed about 800 fraudulent pension accounts scattered across Deposit Money Banks used in defrauding the government in the past. This is as investigators from the Independent Corrupt Practices and Other Related Offences Commission(ICPC) have stepped in for further in-

vestigation on the matter, according to the Acting Director-General, PTAD, Murtala Oluwatoyin. He spoke over the weekend in a chat with the media. He said because PTAD lacked the power to prosecute or ask affected banks to divulge certain information, it reported the case to ICPC for further investigation. "About 800 accounts were closed in one day at various banks which I have passed to the ICPC for further investigations and we have

signed a memorandum of understanding with ICPC. It's an ongoing process and the number will keep changing as we progress. We don’t have the powers to ask the banks to give us that information(operators of the account) and that is why we are calling on ICPC to assist us". “We are working with ICPC because the ICPC has the power to ask the banks for the information and we are sure very soon, we will unravel those behind the accounts.”

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Edo decides INEC declares readiness for election

Politics More than a year since President Muhammadu Buhari assumed office, some of his party men and women, who worked for his victory at the poll are still hoping to be drafted into his government. FELIX NWANERI reports

Interview APC not ready for governance – Tanko

12 13

Waiting in the wings

olitical appointments serve two distinct functions. One is to reward supporters and the other to control the state. The reward function of political appointment is a feature of many traditional patronage systems, where the political party that wins an election rewards its campaign workers and other active supporters by appointment to government posts and by other favours. Such is the character of politics that to the victor belong the spoils. The term was in use in the early days of American democracy, but it was made famous in a speech made in 1832 by Senator William Marcy of New York. In defending one of President Andrew Jackson’s appointments, Marcy said: “To the victor belong the spoils of the enemy.” At that time, the term “spoils” referred to the political appointments, such as cabinet offices or ambassadorships, controlled by an elected official. Arguments in favour of the spoils system defend it as a means of maintaining an active party organisation by offering loyal workers occupational rewards. It also guarantees the ruling party loyalty and cooperative employees. Supporters of the practice claim that this results in more effective government because the appointed officeholders have a stake in helping the elected official to carry out his policies and fulfill his campaign promises. On the other hand, the spoils system too often result in appointments that are based strictly on the needs of the party, without regard for the appointee’s qualifications or ability to do the job. The arguments on both sides, notwithstanding, party men always smell lucrative appointments, contracts and consultancies after victory at the polls. It is against this backdrop that majority of those who vigorously

FELIX NWANERI

GROUP PoLITICAL EDITOR nwanerif@newtelegraphonline.com

L-R: Shehu, Mamora and President Buhari during the campaings.

supported the ruling All Progressives Congress (APC) during last year’s general elections are still expecting to reap the dividends more than a year after President Muhammadu Buhari assumed office. The contributions of this men and women cannot be quantified as it would be recalled that Buhari had never had it rosy when it comes to campaigns due to paucity of funds before the last polls. This, perhaps, explains why he suffered three consecutive defeats – 2003, 2007 and 2011 before his victory in 2015. Remarkably, the last elections was the first time, he extended his campaigns beyond the northern part of the country where he hails from. In the previous polls, he rarely campaigned outside his home zone, apparently due to paucity of funds unlike his Peoples Democratic Party (PDP) counterparts, whose party had been in power since 1999 with structures across the country and enormous financial resources to campaign round the nation’s 36 states. However, the coming together of the various opposition parties and defection of some members of the then ruling party, particularly five of its governors to the APC, has not only offered him a broader platform but resources to campaign across the country. Little wonder his campaign train which took off in Port Harcourt, Rivers State on January 6, 2015, was able to criss-cross the country’s 36 states and Federal Capital Territory unlike in the past. The mobilization was something to behold with the usual pomp associated with such

rallies not lacking. But more than a year after the party had taken control of the Federal Government, some of these party chieftains, who worked tirelessly for the victory are yet to be accommodated in the scheme of things. They include those who served in the party’s presidential campaign council and the 19-member Transition Committee that worked with the then Peoples Democratic Party (PDP) government to ensure a smooth transfer of power.

Some of these party chieftains, who worked tirelessly for the victory, are yet to be accommodated

Presidential Campaign Council For the 62-man APC presidential Council, it was headed by then presidential candidate of the party and now president, Muhammadu Buhari, while his running mate and now vice president, Yemi Osinbajo, served as the alternate chairman. The national chairman of the party, Chief John Oyegun, served as the deputy chairman of the council. There were two vice chairmen of the council. For the North was former Vice President Atiku Abubakar, while former Lagos governor, Bola Tinubu, was vice chairman for the South. Then governor of Rivers State, Chibuike Amaechi, served as campaign director general. He was supported by two deputies – Senator Olurunmibe Mamora, who was in charge of Operations and Chief Audu Ogbeh, who was in charge of Coordination. The campaign council also had 10 directorates: Media and Publicity headed by Garba Shehu; Admin and Finance, Hon. Sokonte Davies; Contact and Mobilisation, Boss Mustapha; Election Planning & Monitoring, T. O.

E Ekechi; Policy Research & Strategy, Kayode Fayemi; Security, General Abdulrahman Dambazau; Legal , Chukwuma Ume; Youth Mobilisation, Dasuki Jalo; Women Mobilisation, Hajiya Ramatu Tijjani; Fund Raising, Babatunde Fashola. It also had zonal coordinators, who were mostly governors from the region, with the exception of the South-East where Senator Chris Ngige, was appointed the zonal coordinator even though Governor Rochas Okorocha of Imo State was a member of the council. Adams Oshiomhole was in charge of the South-South; Rauf Aregbesola (South-West); Tanko Al-Makura (North Central); Kashim Shettima (North-East) and Aliyu Wamakko (North-West). Others members of the council were Mr. Sam Ndah Isaiah, Dr. Sam Jaja, Prince Tony Momoh, Chief Bisi Akande, Chief Ogbonnaya Onu, Alhaji Mai Mala Buni, Alhaji B. Gwagwarwa, Senator Osita Izunaso, Senator Lawan Shuaibu, Chief Segun Oni. Chief O. Oyo kola, Senators Kabiru Gaya, George Akume, Bukola Saraki, Abdullahi Adamu, Danjuma Goje, Ahmed Yarima, Alhaji Kawu Baraje, Jasper Azutalam, Sharon Ikeazor, Hon Abike Dabiri-Erewa, among others. Transition Committee The 19-member Transition Committee was set up by then President-elect (Buhari) to liaise with its Federal Government counterpart to ensure a smooth transfer of power. CONTINUED ON PAGE 14

POLITICS

INEC declares readiness for election Onyekachi Eze ABUJA

he Independent National Electoral Commission (INEC) has said it is ready for Wednesday’s governorship election in Edo State. The election was earlier scheduled for September 10 but was postponed to September 28 due to security reasons. INEC Director, Voter Education and Publicity, Oluwole Osaze-Uzzi, said yesterday that the commission is ready for the election. "We are prepared for the September 28. The

...Secondus charges commission to save democracy

card readers have been reconfigured and charged. We've retrained the staff, and we are ready to go," he disclosed. He however, declined to comment on security as he said that the Inspector General of Police is in the best position to speak on the issue. Osaze-Uzzi blamed the delay in reconstituting the board of the commission on inability of the National Assembly to screen the persons nominated as National Commissioners by President Muhammadu Buhari. "The commissioners will undergo screening

Edo DECIDES

and confirmation by the Senate before they could be inaugurated," he added. Meanwhile, former Deputy National Chairman of the Peoples Democratic Party (PDP), Prince Uche Secondus

has advised INEC to do everything possible to ensure free, fair and credible election. In a statement yesterday, Secondus said the Edo State election provides ample opportunity for the Professor Mahmood Yakubu-led INEC to redeem its name from the previous inconclusive and questionable outing of the commission since he assumed the leadership of the electoral body. According to Secondus, the implication of INEC failing to conduct credible poll in Edo State would be far reaching in the suste-

nance of democracy in the country as well as to national stability. He observed that the fall of the nation's previous republics was because of the failure of previous electoral umpires to conduct credible polls. Secondus therefore, charged Prof. Yakubu to do all within his powers to ensure that the envious integrity attached to his name before his appointment is not dented. The PDP chieftain reminded the INEC boss that he should be concerned "that all elections conducted by the com-

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

mission under his watch have not been transparent and credible starting with Kogi, Bayelsa, and Imo to Rivers states and even local Government council election in the Federal Capital Territory." He said that the Edo election provides huge opportunity for the commission to restore its image and assure Nigerians and indeed global democratic watchers that the commission under his leadership can conduct general election in 2019. Secondus also advised the security agencies who would participate in the poll to be very professional and resist the temptation of getting involved in any partisan roles as such would undermine their statutory duties.

PDP alleges plot to rig poll

he Peoples Democratic Party (PDP) in Edo State, yesterday, said that it had uncovered at least six strategies by the All Progressives Congress (APC) to rig the governorship election. The PDP, in a statement by it Publicity Secretary, Mr. Chris Nehikhare, however, appealed to its members to remain calm and law-abiding, saying this is a sacrifice they must make to in order to effect a change of governance in the state. The party said: “With just three days to the elections, more disturbing facts and information are continually being brought forward. As a political party, we are committed to democracy and all its tenets. “We believe that the people must have their say and way as far as elections are concerned, but, unfortunately, APC seems to want to negate all we have achieved democratically in the last 16 years.” The party said the APC, according to its findings, planned to rig the election through thumb-printing

of fake ballot boxes in its (PDP’s) strongholds across the state as well as destabilising peaceful conduct of the poll particularly in Uromi, Ovia, parts of Oredo in order to render the poll inconclusive. “Very credible information reaching us says that Governor Adams Oshiomhole and his APC have concluded arrangements to thumb print fake ballot papers on Monday Septembers 26, at Ibillo, Akoko Edo Local Government Area, Edo North, and then transport the thumb printed fake ballot papers to their areas of weakness. Thereafter, they will pretend to expose the perpetrators as PDP supporters. “This ‘show’ becomes the excuse to crackdown on PDP foot soldiers and embark on massive arrest of staunch supporters. To give credence to the ‘show,’ they will plant fake Permanent Voter Cards (PVC) in the homes of our people. At this juncture, we advise that everyone must be vigilant and on alert till elections are over," it said.

Group tells voters to deploy cameras to expose rigging

he Peoples Democratic Party (PDP) Reform Group has tasked the Edo electorate to be vigilant and deploy all electronic gadgets, including phones with inbuilt cameras, at their disposal to monitor Wednesday’s governorship election in order to expose any kind of rigging. The group also appealed to all security agencies that have been deployed for the election to work in line with international best practices and avoid being compromised. The group in a statement by its Convener, Mr Ariyo-Dare Atoye, said there would be “real-time monitoring of the election.”

“We are working round the clock with some partners to equally deploy long-range sophisticated cameras in strategic locations in some local governments to monitor and record likely attempts to compromise the election. “We have mapped out strategies with highly intelligent persons to deploy some long-rage sophisticated cameras in strategic hidden locations under our Operation Eagle-Eye Edo (O3E) to monitor and record per second happenings. “Eternal vigilance is the price of liberty; we are going to ensure citizen-monitoring and citizen-policing of the election to reflect the true wishes of the electorate.”

Edo State All Progressives Congress (APC) governorship candidate, Mr. Godwin Obaseki, and his wife, Betsy, receiving blessings from Bishop Peter Imasuen at St Matthew's Anglican Cathedral, in Benin City yesterday.

Don’t waste your votes on PDP, Oyegun tells electorate

he National chairman of the All Progressives Congress (APC) Chief John Odigie-Oyegun, yesterday, warned the people of Edo State about the obvious danger of wasting their votes in the September 28 governorship election on the opposition Peoples Democratic Party (PDP). He noted that the PDP and its leaders squandered the collective patrimony of Edo people without “a single project or road” to show for the period they were in office from 1999 to 2007. Chief Odigie-Oyegun, who stated this in his message to the people of the state ahead of Wednes-

day’s governorship election, advised them to say no with their voters cards “for a repeat of 10 years of PDP and not to yield to the demands by the opposition party and its candidate for votes.” According to him, the people should rather cast their votes for the APC candidate, Mr. Godwin Obaseki, for progressive action at ensuring positive and realistic dividends of democracy. The APC national chairman also called for forgiveness for whatever personal misgivings against the party, urging the people to acknowledge the massive development Governor Adams Osh-

iomhole had brought to the state. He said: “At this time due to the severe economic downtown, our state needs a leader that is equipped to manage the economy out of recession. I believe Godwin Obaseki, because of his experience in financial management, is the best candidate to be governor of Edo State. “Whatever personal misgivings that one may have, we must acknowledge the massive development that this government has brought to our state. We must look beyond ourselves and focus on the greater good of our state and her people. This is not the time to settle

personal grudges. All hands must be on deck to ensure the sustained development of our state. “This election is like no other before it. You must use it to ensure sustained development and progress of our state. As one who has been privileged by the grace of your votes to be governor of our state, and now national chairman of APC, and having experienced the rule of the two parties, I ask you to vote for Godwin Obaseki of the APC because he has the experience, the training, the intellectual rigor and the business pedigree to move our state to the next level of progress, peace and prosperity.”

Recession, a lesson for Nigeria – Obaseki

ll Progressives Congress (APC) governorship candidate in Edo State, Mr. Godwin Obaseki has said the present economic recession in the country is a lesson for Nigerians to think fast and secure a brighter future. Speaking at a forum to endorse his candidature by members of students union in tertiary institutions across the state, Obaseki said: “To me, I will say the present

economic crisis is a good omen for us. We need to think and act fast. “Spending more than17 billion dollars on food importation yearly should not be for country such as Nigeria because we have the resources. We have the land and human resources that can produce same food we import, only if we can evolve policies that will make it for the youth to be effectively deployed to production.” He said the youth con-

stituted the larger productive segment, insisting that policies that would engage them productively was necessary to fight crime and improve the economy. The APC candidate said he wanted to be the governor of the state to make the state better and improve the standard of living of the people. “I am not in the race to acquire more wealth, because I am already blessed. I want to be successful by translat-

ing what I have attained to those who need it. “We are in a race against time, population is growing rapidly, but infrastructure is not growing in a corresponding way. There is need for us, as a state and people, to plan ahead before we are caught in the web. I want to be part of this plan, which account for the reason why am seeking to be governor of this state,” he said.

POLITICS \ MONDAY INTERVIEW

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

APC not ready for governance – Tanko Dr. Yinusa Tanko is the National Chairman of the National Conscience Party (NCP). In this interview with TEMITOPE OGUNBANKE, he speaks on the Muhammadu Buhari administration, economic recession and anti-corruption war, among other issues The economic recession in Nigeria has become worrisome to many Nigerians, what is your take about the present state of the Nigeria economy? Let me be frank with you, it is very obvious that the present government is not telling us the true position of things. Investigation and the statements being made by this government attest to this particular fact. Right from the beginning, this particular government has what we call a communication gap; they have not been able to communicate with the Nigerian people effectively well. And when you hear the president says one thing, you hear his aides saying another thing differently. That has shown the differences that they had within themselves internally as a political party. We are all living witnesses when the leadership of the All Progressives Congress (APC) government told Nigerians that they were able to generate money that belongs to the Nigerian people. First of all, they said they generated about N3 trillion from looters. They also said that they have been able to generate N1.4 trillion from revenue from the Treasury Single Account (TSA). They went ahead to tell us that they have been able to get about N6 trillion from Customs and Duties. The list is endless. The total amount of money they said they recovered or generated amounted to over N13 trillion. Let even assume that the N13 trillion is a figment creation of the social media; if we divide the amount into two, it means we would have nothing less than N6 trillion. The total budget of Nigeria for 2016 is N6.04 trillion. We are in the third quarter of the year and it is assumed that 75 per cent of the amount has been spent into the system. That is amounting to about N4 trillion, which was about the total amount of budget that the Goodluck Jonathan government spent. Despite the accusation that the budget was not even executed up to 75 per cent, Nigerian people did not go hungry and we did not go into recession. So, at this point in time, where is the money they said they generated? If they said they generated the money, why are we talking about borrowing? What happened to the budget? Is it being implemented? If it is being implemented, how many per cent of that particular budget is being implemented? If they are implementing it, then why are all the ministries dormant? All the ministries are not working. It is amazing to see the government enjoying the light-

rail from Kaduna to Abuja as if they are the one that even did it. Since government is a continum, it means that the former administration have done something and therefore we should stop passing the bulk. Are you saying you don’t believe in the position of the president administration that the Peoples Democratic Party (PDP) should be blame for Nigeria’s current problem? I don’t believe in blame game. Why we had a change mantra was because there is gap in governance. People were not happy with what the former government did and so therefore, they wanted a change; that is the reason why APC was in government. If the PDP government had performed very well, APC would not have been in power. It is a simple thing. And they came with a particular propaganda and euphoria that there is need to be a change because things are bad. We all believe that they are prepared for government but it seems to me very clearly that they are not ready for governance. Why do you think that they are not ready for governance? Because if they are ready for governance, it couldn’t have taken up to about six months before we can appoint ministers. It couldn’t have taken us up to about onequarter of the year before we can talk about the budget. If they are ready for governance, up till now appointment of boards have not been chosen; we only have piecemeal appointments, which has reflected more on the Northern parts than the Southern parts. If they are ready for governance, we would'nt have heard them talking about forming another new political party. If they are ready for government, we would not have had problems as regards to implementation of the budget. If they are ready for government, we shouldn’t have found ourselves in a recession. Nigeria is not a poor country; we are very rich country. Yes, we agreed that there had been bad governance during the period of the PDP. What should be paramount is finding a way of solving the problem, not passing the bulk of the problem. This is almost one and half years of APC government; next year we will almost go into politics and campaigning. We don’t have luxury of time. They have only four years and up till now, the government has not put on ground one single block. Would you say that the present government has failed Nigerians looking at the fact that majority of Nigerians are saying they are yet to witness the change they voted for? It is a huge disappointment. They have three dimensional problems; trust, communication and deliverable of the promises that they made to Nigerian people. Trust in the fact that some people are looking at this government as being sectional. That they are being sectional in what they are doing; even some people see the anti-corruption war of this government as if it is targeted to particular part of the country and some political parties. So, there is

Tanko

This is almost one and half year of APC government... up till now, the government has not put on ground one single block

no trust that can move people together to work as a team. Secondly, the issue of communication is very clear because whatever they say, they have never been able to back it up with facts. In term of communication, when the president says something, his aides say another thing differently. As it is today, we do not know the exact money this government has in its coffers. We cannot confirm that this is the X amount of money that we have. And when it comes to the delivering of the promises that they made; they have renegaded on them. The promised to pay N5,000 to indigent Nigerians youths has not been met. They said they are going to generate 20,000 megawatts of electricity; that has not been met. Thank God we are in raining season and that is why we are enjoying stable power. The problem they have is that they are not even executing their manifestoes. We are not running an independent candidate in Nigeria; every political party have their manifestoes but unfortunate in their manifesto, they have a 14-point agenda. The first thing in the 14-point agenda manifesto of the APC is to initiate a move toward restructuring of Nigeria along federal, state and local government so that there would be devolution of power and that is the true federalism and restructuring. But when the president was campaigning, he summarised all the 14-point agenda of the APC into three, which is fighting against corruption, economy and security. If the president has used the strength of him fighting the insurgency on the other two agendas, we would have probably gone far. But it is as if Nigeria remains in one particular place. Today, the Nigerian people are subjected to a lot hardship; unwarranted hardship. Do you think Nigeria should be in recession... We don’t deserve to be in economic recession if we rely on the statistics of what the government said they generated, which is run-

ning to about N13 trillion. If they had spent N4 trillion on the system; there is no way we will be in recession. So, the injection that the Federal Ministry of Finance said they are doing into Nigeria economy should stop. Let them implement the budget. If they cannot implement the budget, let them tell us why. One of the moves by the Federal Government to solve the economy problem is to sell some government assets. Do you agree with that? That is neo-colonialism and anti-people project. Are common people going to buy those government properties? They don’t have the money to do so. It means that they will sell it to their cronies and friends. And that means that the economy of the Nigerian people will be in the hands of few, who will decide our faith. It is very clear that since they increased the petroleum price, everything has skyrocketed. People are running away from their family and there is no any system that is being put in place to allow the market forces to work together the way they are proposing so that the market can come down. What is your take on former First Lady, Patience Jonathan's running battle with the Economic and Financial Crime Commission (EFCC) over frozen of her accounts? Before you can persecute any person, you must establish the fact that the source of his money is wrong; stolen or does not belong to him. When you established that, then he can prove to you where the money came from. At a point in time in Nigeria, every Nigerian was living dangerously; corruption was almost the way of life. People who were not involved in it directly were involved in it indirectly. It is now we are trying to put things right and so, anybody that has stolen Nigeria’s money should be find and if possible prosecuted if there is criminality against him using the ambiance of law but not neglecting the actual governance of the people.

POLITICS

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

APC chieftains still

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

Its members were Ahmed Joda (Chairman), Doyin Salami (Vice-Chairman), Boss Mustapha, Muhammad Hayatuddin, Abubakar Malami, Lawal Jafaru Isa, Hadi Sirika, Audu Ogbeh, Solomon Dalong, Bola Adesola, Wale Edun, Nike Aboderin, Ogbonnaya Onu, Festus Odimegwu, John Odigie-Oyegun, Chibuike Amaechi, Tam David West, Lai Mohammed, Prof. Pat Utomi and Adamu Adamu (Secretary). The terms of reference of the committee were to develop a clear framework for liaison with the then PDP administration for the purposes of a smooth hand-over/take-over and to receive hand-over documents from Ministries, Departments and Agencies and itemise the most important or most urgent issues confronting the in-coming government The committee was also saddled with reviewing and making preliminary assessment of the balance sheet of government with particular emphasis on the status of assets and liabilities of government; cash flow position of the government; quantum of public domestic and external debt of government and their deployment; government’s outstanding contractual obligations and its ability to meet such obligations and the status of implementation of capital projects. Other terms of reference of the committee include to suggest “quick fixes” which will result in tangible, visible and practical measures so that “change” will be seen after 30 days, after 100 days, after six months of the administration taking office, and to make any other observations which in its view would be helpful to the transition and take-off of the new administration. Those who’ve been compensated A handful of members of the APC Presidential Campaign Council have been adequately compensated with appointments as ministers. Some have equally had their cronies and loyalists appointed to head agencies and parastatals of government considered to be “lucrative.” Among those who fall into this category include the APC National Leader, Tinubu, who played a key role in Buhari’s emergence as president. Tinubu’s support for Buhari stemmed from the party’s national convention where he mobilised other party stakeholders and APC governors to ensure that the former head of state was not muscled by other presidential aspirants with huge financial war chests. The former Lagos governor also jettisoned his vice presidential ambition to avoid a Muslim/Muslim ticket that would have jeopardized the party’s chance at the poll. But, there could be no compensation more than allowing Tinubu to single-handedly nominate his former AttorneyGeneral and Commissioner for Justice, Prof. Yemi Osinbajo for the position of vice president though some analysts believe that he was sidelined during ministerial appointments. Tinubu had pushed his former Commissioner for Finance, Wale Edun, as Finance minister but it was turned down. Yemi Cardoso, a onetime Lagos State Commissioner for Budget and Economic Planning, who was to take his place, also didn’t fly. While Tinubu failed to have his way with ministerial appointments, some of his loyalists have been appointed into other key positions. They include Dr. Babatunde Fowler (Executive Chairman of FIRS); Mr. Sunday

Momoh

Dare (Executive Commissioner, Stakeholders Management (NCC); Mrs. Adejoke Orelope-Adefulire (Senior Special Assistant on Sustainable Development Goals (SDGs) and Senator Babafemi Ojudu (Special Adviser on Political Matters to the President). And Edun, who missed out of ministerial appointment, was recently inaugurated as chairman, Board of Trustees (BoT) of the Trust Fund for the Hydrocarbon Pollution Remediation Project (HYPREP) for the implementation of the United Nations Environmental Report (UNEP) on Ogoniland. Others, who have been rewarded, are Tinubu’s successor as Lagos governor, Fashola, who survived strong opposition to become Minister of Power, Work and Housing. As the Director of the Buhari-Osinbajo Presidential Campaign Fundraising Committee, Fashola brought his ingenuity to bear by deploring several measures to raise funds for the presidential project. Also in this class are former Ekiti State governor, Fayemi, who was the chairman of the APC Convention Planning Committee and Director of Policy of the party’s Presidential Campaign Organisation. He is presently Minister of Solid Minerals. Former Rivers State governor, Amaechi, who served as the DirectorGeneral of the APC Presidential Campaign Council, was not only appointed Minister of Transport, he had his anointed and APC governorship candidate in Rivers State – Dakuku Peterside – appointed as Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA). Amaechi also got one of his loyalists, Mrs. Ibim Semenitari, to act as Managing Director of the Niger Delta Development Commission (NDDC) from December 2015 to July this year as well as Dr. Sokonte Hutton Davies as Executive Director, Marine Operations of the Nigerian Ports Authority (NPA). Another former governor, Ngige, who served as South-East zonal coordinator of the Buhari campaign council was not left out. He was appointed Minister of Labour. Same goes for Dr. Ogbonnaya Onu, a former governor of old Abia State and exnational chairman of All Nigeria Peoples Party (ANPP) – one of APC’s legacy parties. Onu was earlier tipped to emerge as the Secretary to the Government of the Federation (SGF) but Babachir Lawal was picked ahead of him. His kinsmen, who had hoped that one of

Baraje

Party men always smell lucrative appointments, contracts and consultancies after victory at the polls

Odimegwu

their own would make the president’s kitchen cabinet, were then left disappointed. Perhaps, the displeasure was as a result of Onu’s consistency in opposition politics. He has always been with the ANPP, the platform Buhari contested the 2003 and 2007 presidential elections on. When others jumped ship, Onu demonstrated rare political discipline and consistency, by remaining one of the very few founding leaders of the party who remained until it merged with others to form the APC in 2013. Chief Audu Ogbeh, who was in charge of coordination of the presidential campaign was also rewarded with an appointment as Minister of Agriculture. Other members of members of the campaign council who were appointed into positions are Garba Shehu (Senior Special Assistant, Media and Publicity to the President); Hon. Abike Dabiri-Erewa (Senior Special Assistant to President on Foreign Affairs and Diaspora) and Boss Mustapha (Managing Director of the National Inland Waterways Authority (NIWA). Waiting in the wings While the aforementioned are savouring their appointments, many, who also served in the campaign council as well as the transition committee are yet to be remembered by the President. The president’s body language has left many within and outside the APC wondering if he will ever compensate these chieftains who were his foot soldiers during the electioneering period. Top on this list are Mamora, Momoh, Baraje, Ekechi, Ume, Jalo, Davies, Azuatalam, Nda-Isaiah and Ikeazor (of the campaign council), and Joda David-West, Odimegwu, Aboderin, Edun, Adesola, Isa, Hayatuddin, Mustapha and Salami (of the transition committee). Olorunnmbe Mamowora As the Deputy Director of Operations of the APC Presidential Campaign Council, Mamowora was on the campaign train of the party all through the electioneering period and contributed immensely to its success. Many had thought that the former senator for Lagos East would have by now been rewarded for his contribution during the campaigns but that is not forthcoming. Those, who are bemused over this development, are of the view that it was not due to lack of experience on the side of the medical doctor turned politician.

Infact, Mamowora boast of a rich credential more than his compatriots. He was a national delegate for the defunct National Republican Convention (NRC) in 1990, and Secretary, Lagos East of the United Nigeria Congress Party (UNCP) in 1998. He was elected to the Lagos State House of Assembly in 1999 and was appointed Speaker. He was Chairman of the Conference of Speakers (2000 - 2001). He was elected to the Senate in April 2003 and reelected in 2007. He was also a member of the Economic Community of West African States (ECOWAS) Parliament (2003 - 2006). In 2003, he was appointed chairman of the Senate Committee on Ethics, Privileges and Public Petitions. In 2007, he was appointed to committees on Upstream Petroleum Resources, Selection Committee, Health and Federal Character and InterGovernment Affairs. In a mid-term evaluation of senators in May 2009, it was noted that he had sponsored bills on Tenure of Office, Surgeon-General of Nigeria and repeal and amendment of the Tobacco Control Act. He also sponsored and cosponsored motions including one to amend Senate rule 111 to bring it into conformity with the Constitution of the Federal Republic of Nigeria. These and other feats earned him the sobriquet: “Master of parliamentary procedures.” Sam Nda-Isaiah Nda-Isaiah and some like minds formed The Buhari Organisation (TBO) in 2002 to promote Buhari’s aspiration to the presidency and he was appointed deputy directorgeneral. The TBO was an organisation within the ANPP (All Nigeria Peoples Party) then. In 2003, when Buhari challenged the then President and candidate of the ruling Peoples Democratic Party (PDP), Chief Olusegun Obasanjo in that year’s presidential election, NdaIsaiah took charge of the media and publicity machinery of the Buhari Campaign Office. He, along with other foot soldiers, had expected that a Buhari candidature could upstage the applecart of Obasanjo’s presidency. Unfortunately, it did not materialise. He was also with Buhari in 2007, when he ran against Umaru Yar’Adua but lost. Same happened in 2011, when he joined Buhari to form the Congress for Progressive Change (CPC) on which he contested the 2011 elections against Goodluck Jonathan. Nda-Isaiah has over the years remained clearly sympathetic to Buhari’s cause, so it was a surprise

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

waiting for the spoils

Utomi

Ekechi

to many in 2014, when he declared to contest the APC presidential ticket alongside his principal. Many had thought that he was out to test the waters but he insisted on his ambition and fought all the way to the primaries. He polled 10 votes against Buhari’s 4, 430 in the primaries but the outcome did not deter him as he teamed up with the other aspirants to support the Buhari presidential project. As a media proprietor, he also made his platform available to his party and equally contributed in mobilizing the people through his column in his newspaper. Ibrahim Jalo-Waziri As the APC national youth leader and member of the presidential campaign council, Jalo-Waziri helped the party in mobilizing young Nigerians during the elections. But he seemed to have lost faith in Buhari’s leadership shortly after he assumed office. He berated the President for not carrying the youth along when he appointed ministers. He had reasoned that young people should be given the opportunity to serve in leadership positions in the Buhari government because of the role they played in ensuring victory during the last election. Tam David-West The academic, social critic and former federal minister is a known ardent supporter of President Buhari. Even with his kinsman (Jonathan) as a presidential candidate, that did not stop him from expressing his support for Buhari in the 2015 elections. It was predicted that he would head the Petroleum ministry during the constitution of the federal cabinet given his closeness to Buhari but that didn’t work out though the professor of Virology has severally said he did not support Buhari because of appointment but because of Nigeria. Festus Odimegwu That the former Managing Director of the Nigerian Breweries is yet to be considered for an appointment by President Buhari, still baffles many. Having served in the transition committee, many had thought that he would easily become a minister but the power play over who takes his state’s slot saw his name being dropped at last minute in place of Prof. Anthony Anwuka, who later became Minister of State for Education. Odimegwu was an appointee of President Goodluck Jonathan after he helped rally the organised private sector to support the enthronement

Abdullahi

of the Umaru Yar’Adua presidency in which Jonathan served as vice president. He remained close to Mr. Jonathan, who appointed him chairman of the National Population Commission. He however left the position in controversial circumstances after he made comments considered critical of a section of the country. The manner he left office, perhaps, explained why he endorsed the presidential candidate of Buhari, explaining why he is the best man for the nation’s top job as Nigeria grapples with political, security and economic challenges. “Countries without the likes of Buhari in power ultimately perish. There are really no other options to greatness than through great leaders. Buhari has the qualities. And he has a date with destiny in the Nigerian presidency from 2015 – 2023. May God give him the right vision and guide him,” he wrote. Pat Utomi The professor of Political Economy and management expert also served in the APC transition committee and he was among those tipped for ministerial appointment. He was among the technocrats who were initially penciled to join the cabinet but were later dropped for core politicians. However, not making the cabinet has not stopped Utomi from doing what he knows best – contributing on how to improve the economy – though has been critical of the Buhari government. Speaking recently on the current economic crisis, he said President Buhari was ruling the country as if he was still in the medieval period. “The problem with Buhari’s administration is his medieval mindset. He excludes rather than includes. So, he does not get the best idea. He is insular. I don’t push him in this conversation but I am sure that if I put my friend, the vice president under pressure, he will admit what I am saying. Because of their medieval mindset, they have created a country that is more divided than they met it. And that is a problem for leadership that is marching towards progress.” Doyin Salami Dr. Adedoyin Salami popularly known as Doyin Salami is an accomplished economist who has a doctorate degree from Queen Mary College, University of London. He is a full time member of the faculty at the Lagos Business School (LBS), Pan-Atlantic University where he is

I belong to the group that is not very satisfied with the performance of the party

an Associate Professor. In addition to teaching, he works as a Principal Consultant in Edward Kingston Associates. His consulting activities have included assignments for the Department for International Development (DFID), World Bank, United Nations Industrial Development Organisation (UNIDO), and United States Agency for International Development (USAID). Salami is also a member of the Monetary Policy Committee of the Central Bank Of Nigeria and he is also a past member of the Federal Government's Economic Management Team. He serves as a Member of the Advisory Board of CBO Investment Management In addition, he is also an executive director of the UK-based African Business Research Ltd. His research interests include: issues in corporate long-term financial management; macroeconomic policy; corporate competitiveness and risk management; and characteristics of small and medium enterprises (SMEs). He served as the Vice Chairman of the APC Transition Committee and is yet to be looked at for another responsibility since then. Kawu Baraje Kawu Baraje Baraje led the splinter faction of the PDP, New PDP, which defected with five of the party’s governors to the APC in 2013. He also supported the party during the 2015 electioneering campaigns. Though he may not have done it in expectation of a political appointment, his support for Senate President Bukola Saraki in his fight with the party over the way he (Saraki) emerged as head of the upper legislative chamber, appears to have shut out any political compensation for him or his allies. Little wonder he has been critical of the APC government over what he described as the party’s poor performance. He has also seized any opportunity that comes his way to advise the party not to repeat the mistakes of the PDP. “I belong to the group that is not very satisfied with the performance of the party; not only because the Senate President is having a very serious political issue, but because there are other cases and instances where we are not happy with the performance of our party,” he once told the party’s leadership. T.O.E Ekechi An outdoor media and marketing expert and former Commissioner for Information in Imo State, Ekechi

Politics

was in charge of Election Monitoring for the APC during the last election but he is yet to be considered for any appointment yet. Tony Momoh The story of Buhari’s rough road to the Presidency cannot be told without the contributions of the journalist turned politician He was not only one of the masterminds of the merger of the three main opposition political parties to form APC but has been on the project with Buhari for about 12 years when he headed the Media and Publicity Campaign Council of the president-elect under the then All Nigerians Peoples’ Party (ANPP). He later became Chairman of the defunct CPC. When Buhari lost in 2003 and 2007, he was one of those who helped pursued the case all through the Appeal Court to the Supreme Court. At a time Buhari had given up, having publicly declared he was not going to contest elections again, Momoh was one of those who convinced him to rescind that decision. In fact, he went ahead asking Nigerians to beg Buhari to contest. Having convinced Buhari to contest the primaries APC, he formed “Those Who Care Group” (TWCG) promoting Buhari as “The Face of Change.” It is against this backdrop that many had thought that he would be among the first to be appointed into strategic positions by Buhari on assumption of office. But does Momoh see himself as a professional politician? Not really. Rather, he believes he is a professional in politics. Bolaji Abdullahi The former Minister of Sports served as Deputy Director of Policy and Strategy of the APC Campaign Council. Having proved his competence and prowess, there was no doubt that he was going to get a ministerial appointment but last minutes intrigues denied him of Kwara State’s slot, which had been narrowed down to him. He may not have been the only qualified Kwaran worthy of a ministerial nomination, but he remains one of the best and proven hands. It is however believed that he was dropped because of the clash of interest between the presidency and the senate president, Bukola Saraki. The former minister is a protege of Saraki, who sponsored him for the same position under the Goodluck Jonathan regime. Jasper Azuatalam The president of Movement for Accountability and Good Governance (MAGG), Azuatalam, an activist, was the chairman of “Buhari Vanguard,” a support group for President Buhari during the 2015 Presidential elections. His sense of loyalty and conviction to the Buhari presidential project was never in doubt though he is described as friends with the President having studied under his feet ever since he lost his third consecutive attempt to be elected a democratic president. His support and mobilisation for the APC during the elections somehow put his life was in danger then given the fact that most of his kinsmen in the South-East to anything APC or Buhari. Whereas his support was then seen as unpopular and treacherous, he held on the ideals he believed on but like some his kind he stiffed out their neck for the party, he is yet to be considered for a higher role.

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Opinion Why Obama avoided Nigeria Dominik Umosen

eing the first black president of the United States of America (USA), is among reasons history shall speak kindly of Barack Obama. Others include his focus and determination to accomplish what others considered impossible in their lifetime. Foremost American civil rights activist, Rev Jesse Jackson, wept at his inauguration because of this. When you consider the indignities blacks suffer in America, Jackson’s tears provide a fresh perspective. There are other reasons Obama is electric and shall be celebrated in American history as an uncommon phenomenon. These include Melania Trump, wife of the US Republican presidential candidate who realized too late that she had plagiarized aspects of a 2008 speech given by Michelle, Obama’s wife. But in the most populous black nation that the US president has consistently shunned, he shall be remembered for inspiring change, a

mantra that the administration of President Muhammadu Buhari is incapable of following to its logical conclusion. If “Change begins with Me” was lifted from a previous speech by Obama, this sudden and hilarious twist is hardly surprising but it should not justify the allegation that the pet programme of the administration lacks originality as some critics have said. The Senior Special Assistant to the President on Media, Mallam Garba Shehu should tone down his pledge to sanction the Presidency official responsible for the offensive insertion in the president’s speech because that would be counter-productive. Even if the anonymous official is sanctioned as threatened, what happens to the person who read the speech without any clue that it lacked originality? Having discovered itself in this twist, The Presidency is in a better position to empathize with Melania Trump who has had to convince Americans that similarity of thought with Michele Obama is not sufficient to sustain the charge that she plagiarized the speech of

The Presidency is in a better position to empathize with Melania Trump

Obama’s wife. As powerless as Trump was to resist the infectious Obama man magic, despite the enormous political differences between them, so also change should not resist the opportunity to wow Nigerians, even when the similarity is too serious to be coincidental as Shehu admitted. Providentially however, Obama visited the subject of his snub and provided the administration to reconsider the allegation that it is disdainful of contrary opinion, especially those adjudged politically not correct. For example, the President of the Association of Professional Bodiesd of Nigeria (APBN), Mr Foluso Fasoto said the econo. mic recession in the country would have been averted if the administration sought the advice of experts. And a former presidential candidate, Prof Pat Utom agrees that the crash in oil price was not enough to trigger recession if the right policy choices were made by the administration. He regretted that experts became wary of offering advice after the administration ill-advisedly scared away investors with contradictory signals. •Umosen (dominikumosen1@gmail.com) wrote in from Lagos.

Before enforcing speed limiters Adewale Kupoluyi

n a cool Sunday evening, as I was driving on the notorious Lagos-Ibadan Expressway and within a spate of 30 minutes, two fatal accidents occurred in which some passengers lost their lives. After taking a cursory look at what really went wrong, I discovered that over-speeding was the main cause of both accidents. This sad experience is not peculiar to the road mentioned above but a recurring decimal across the nation. Many variables account for road crashes in the country. Problems ranging from bad and failed roads, vehicular mechanical faults, burst tyres, over-speeding, drunkenness and carelessness constitute the major factors responsible. From a review of accident cases in recent times, over-speeding seems to be one of the commonest culprits for accident cases. Most motor accident cases, though avoidable, usually result in colossal loss of lives and property. Therefore, having a sustainable policy and programme in place that could prevent excessive speed by motorists would be a welcome development in an attempt to curtail carnage on our highways. The Federal Roads Safety Commission (FRSC) has stated that it would implement the speed-limit policy beginning with commercial vehicles with effect from October 1. By this plan, commercial vehicles are required to first fix the device before the deadline. A speed limiting device, also known as governor, is used to regulate, control and measure the speed of a vehicle. The device is meant to alert FRSC officials on patrol if drivers exceed the approved speed on our highways. The device does not allow the driver to accelerate beyond the legally-stipulated speed limit, as programmed in the vehicle. Irrespective of how the driver intends to accelerate, the pre-set speed

limit would not be exceeded even during emergencies. The extant framework for the implementation and enforcement of the speed limiter for all categories of vehicles in the nation is stipulated under Section 10 (3) of the FRSC (Establishment) Act, 2007 and Section 152(4) of National Road Traffic Regulations, 2012, Section 4 of the Standards Organisation of Nigeria (SON) Act of 1971 equally empowers SON to make contributions while the National Automotive Design and Development Council (NADDC) also made significant inputs into the policy. Many factors seem to contribute to why FRSC has found it very difficult to curb over-speeding. Central to this is attitudinal on the part of drivers and operational when it comes to FRSC in terms of enforcement. For instance, drivers found to over-speed are not easily detected due to the sparse presence of monitoring officials and inadequate working tools. Most times, an over-speeding driver is never apprehended because he/she would have received more than enough solidarity and warnings in the form of signs from other drivers coming from the opposite lane that FRSC officials are on ground. Hence, the overspeeding driver suddenly slows down, increases the speed immediately after passing the check-point erected by the corps and the impunity continues. And for more severe offences, he/she makes a detour and takes another route to evade reprimand. The use of speed-breakers has proven to be ineffective in curtailing excessive speed by motorists for two reasons. Firstly, there are very few speed-breakers in the country to make any significant impact. Secondly, the few existing ones are poorly and badly maintained by, falling apart within a short period of their erection thus defeating the purpose for putting them in place in the first instance. Occasionally, whenever an erring driver is caught, he/she

quickly resorts to profuse begging; making phone calls to whoever can intervene. Before you know it, such an offender is either released or given light sanction. In order to ensure that the speed limiters serve the purpose they are is meant to achieve, the FRSC should address some of the issues raised by Nigerians. For instance, the reported unit cost of N36,000 for installing the device appears to be on the high side considering the nation’s economic realities. A reduced cost would encourage as many motorists as possible to key into the programme. Another issue to resolve is the allegation that the marketing firms handling the device belong to senior staff of the corps. This should not be. The process should be made transparent in order to get maximum cooperation of the people. The speed limiter project should not be seen merely as another revenue strategy by the FRSC at the expense of what it is meant to achieve. This fear is premised on the previous experience of motorists with the commission, especially in the processing of driver’s license and plate number. Another likely setback that should be avoided is the notion that the speed limiters can only be used on vehicles that have injectors and not carburettors. Who then monitors the many thousand vehicles that are not injector engines? This problem should be looked into, if the initiative is to make the desired impact as many Nigerians still drive carburettorengine vehicles. As laudable as this idea may be, inadequate planning and faulty preparations may become a big challenge. If the project is well executed in the country, it has the tendency of drastically reducing road accidents and the attendant problems, which the FRSC’s Corps Marshal, Boboye Oyeyemi, has attributed to a loss of three per cent of Gross Domestic Product (GDP) by run-

ning into trillions of Naira. Similarly, the 1998 US Federal Highway Administration Report showed that Denmark recorded 24 per cent decline in fatal crashes and nine per cent injury crashes, Germany recorded 20 per cent decline, Sweden recorded 21 per cent reduction, Switzerland recoded 12 per cent while United Kingdom recorded 14 per cent ,with the introduction of speed limiting devices. Meanwhile, there is the need for word of caution for all. Relying on the Systems Theory construct of social scientists, the availability of speed limiters is not an end in itself in the sense that it does not completely eradicate road accidents, as revealed in the referenced report above, where the introduction of the device did not make much impact in countries such as the United States of America and Australia. Stakeholders should ensure that potholes are removed from our highways, relevant agencies like FRSC should be better funded to perform their statutory functions while drivers should be more considerate, careful and disciplined, especially, during the ‘ember’ months when cases of road accidents are known to be high. To begin with the, FRSC should continue with sensitisation by embarking on massive publicity and enlightenment programmes to still get as many Nigerians as possible to be acquainted with the scheme. For instance, many people still appear not to understand what the project is all about. My interactions with many drivers show that most of them are unaware of the commencement of the project less than a month from now. This appears rather too sudden. Even though, the FRSC is starting the policy implementation with commercial vehicles, it is instructive to note that many cases of overspeeding and attendant problems are traceable to police escorts. •Kupoluyi writes from Federal University of Agriculture, Abeokuta (FUNAAB), adewalekupoluyi@yahoo. co.uk,@AdewaleKupoluyi

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rail track to go into operation. the Lagos and Port Harcourt The project, which is Nigeria’s seaports from where they were first high speed rail system, was exported to other countries. built by the CCECC and is made But due to years of neglect up of a 186.5km standard gauge by subsequent administrations, double track from Abuja to Kaour railway system was killed by bureaucracy and corruption. duna. It comprises nine stations Some of the rail tracks were and the train, according to the left unattended to as a result Chinese firm, can travel as fast as of which they were vandalised. 150km/hour. Because of the state of the rail The idea was conceived by a tracks, few trains which plied previous administration, started them had to move at snail speed. by the Goodluck Jonathan govAfter years of neglect, there ernment and was completed was a glimmer of hope that and inaugurated by the current the comatose government, Nigerian railan indication way system will that governsoon be back ment is a Our railway system on track when continuum. former Presiwas killed by It is exdent Olusepected that bureaucracy and gun Obasanjo goods that corruption performed the are brought official groundbreaking ceremony of the Abuja light rail system in May 2007. The project was part of the city’s bid to host the Commonwealth Games in 2014. But paucity of funds stalled it for many years. In 2009, the nation also saw the need to commence railway modernisation project, which culminated in the signing of the contract for the construction of the Abuja to Kaduna rail line in 2009. The $1.46billion Abuja-Kaduna train service was completed and inaugurated by President Muhammadu Buhari on July 27. The Abuja-Kaduna train for passengers and freight is Nigeria’s first-ever standard gauge

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Trains and mass movement

he history of the Nigerian railway can be traced to the British colonial government when it began the construction of a railway from the then Lagos Colony to Ibadan in March 1896. According to information sourced on Wikipedia, “the Lagos Government Railway started operations in March 1901 and was extended to Minna in 1911, where it met the Baro– Kano Railway that was built by the government of Northern Nigeria between 1907 and 1911. The two lines were amalgamated in 1912 into the Government Department of Railways, the predecessor to the Nigerian Railway Corporation. The railway reached its North-eastern terminus of Nguru in 1930.” The discovery of coal at Udi, gave birth to the Eastern Railway in Port Harcourt between 1913 and 1916. This was later extended to Kaduna in 1927, connecting the Eastern Railway to the Lagos–Kano Railway. The Eastern Railway was extended to its North-eastern terminus of Maiduguri between 1958 and 1964. During this period, mass movement of goods and services was largely done through the railway, which in turn reduced the pressure on our roads and made them durable. Between 1963 and the early 1980s, Nigeria had a vibrant rail system, which conveyed agricultural produce, livestock and solid mineral resources to

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in from Kaduna to Abuja using this means of transport will be cheaper and affordable compared to using other means of transportation. Besides, standard gauge train service is safe, fast and reliable. Another great advantage of this project is that residents of Kaduna can leave their home on a daily basis to work in Abuja since the journey is less than an hour. It will also serve as an alternative transport link between Abuja and Kaduna. During the last Eid-el-Kabir, findings showed that after so many years, some rams were brought into Lagos on trains and those rams were cheaper compare with those brought through

road transport. Various countries in the world have long realised that the rail system remains the best option for mass movement of people, goods and services. Nigeria cannot afford to be different. In 2011, Saudi Arabia awarded high-speed railway contract worth $7.5 billion to a consortium of 12 Spanish companies and two Saudi firms aim to improve transport connections between two cities, Mecca and Madinah, during the annual hajj pilgrimage. By implication, when completed, a journey, which requires putting 53,000 buses on the roads to cater for about two million pilgrims will be carried out by just 35 highspeed trains. 72,000 pilgrims will be moved every one hour. One could imagine the number of man-hour that will be saved using this effective and reliable means of transportation. As part of his administration’s plan, President Muhammadu Buhari assured that most state capitals and major commercial and production centres would be linked with the railway system as a way of bringing about rapid socio-economic development and improving the quality of life of Nigerians, and promoting social and regional integration. We hope the promise made will be kept so that we can go back to the good old days when train ride was a pleasure and booster of our economy.

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Recession: Lawyers in defence of emergency bill

AKEEM NAFIU writes on plan by the Federal Government to source for external loans to rescue the nation’s dwindling economy

hese are not the best of times for Nigeria following an economic recession as confirmed by the National Bureau of Statistics (NBS) in its second quarter report. The report stated that economic output had declined for the second consecutive quarter as Gross Domestic Product (GDP) contracted further by 2.1 per cent year-on-year in the second quarter from 0.4 per cent in the first quarter. This has however forced the federal government to put a process in motion that would reverse the trend. An approval for offshore borrowing was recently granted by the Federal Government. The loan which is to be facilitated by the Debt Management Office (DMO) is expected to come from the World Bank, African Development Bank (AfDB), Japan International Cooperation Agency (JICA) and Export-Import Bank of China. The loans are expected to be disbursed on infrastructure and other developmental projects. The Federal Government’s plan to borrow from offshore lenders might not be unconnected with an approval for a three-year external borrowing rolling plan billed to be transmitted to the National Assembly for consideration upon its resumption. Specifically, Minister of Budget and National Planning, Senator Udoma Udo Udoma attributed the present state of the economy to the sudden drop in crude oil production from 2.2 million barrels per day to 1.1 million barrels per day. He said: “If we did not have the sudden drop in crude oil production from 2.2 million barrels per day to 1.1million barrels per day, we will not be in recession. When the current

FOLUSO OGUNMODEDE

deputy group news editor/ JUDICIARY coordinator foluso.ogunmodede@newtelegraphonline.com

Buhari

government came in, we know we had a difficult situation and we said so right from the beginning”. “We need to raise additional revenue and owing to this, we have a fiscal stimulus plan which we have been developing over the last month or so. We are looking at a number of things to raise money. We have assets sales, concessioning and so on. We are looking at raising between $10 billion and $15 billion and we have started the process already. Why are we looking for dollars? It is because we actually need foreign currency to charge our economy. It is the shortage of foreign currency that is responsible for where we are today. So, we have to look for the foreign currency. We already have a plan”, he also said. Giving reasons why government has not commenced the process of spending monies recovered from looters of public treasury by the Economic and Financial Crimes Commission (EFCC), the minister said, “until the legal process is concluded, we can’t take these funds and start dispensing them. That is part of what the delay is. But, we are optimistic that as soon as all legal processes are concluded, we should be able to eject them into the system” Already a bill entitled, Emergency Economic Stabilisation Bill 2016 is before the National Assembly. In the bill, the president wants to carry out radical reforms that have both executive and legislative components. The executive orders will involve issuance of visas, registration of businesses, granting of waivers, process of tendering and sales of noncore assets.

Saraki

Quakers

The emergency powers that have the legislative components include the Universal Basic Education Commission (UBEC) Act, procurement process and virement of budget allocations. These are part of what the government said should be done to get the economy back on track as soon as possible. Is government’s offshore borrowing plan in order? Lawyers say yes, no. Some members of the Bar who spoke with New Telegraph expressed divergent views. Majority of them were of the view that there was nothing wrong with the plan as long as the borrowed money was put into proper use. A few of them however expressed their displeasure at the planned borrowing. A Senior Advocate of Nigeria (SAN), Chief Felix Fagbohungbe, while expressing his support for the plan said it was in order if it will bring the country out of its present predicament. He said: “The executive has to run the government to better the lives of the people. So, if the government in its wisdom, deems it fit to borrow money in order to better people’s lot, I don’t think anything is wrong with that. If the borrowing will stabilize the economy and make it buoyant, I am in support of it.” “The fact that such borrowings in the past have not been put into proper use should not be a yardstick to stop whatever the current administration has in mind to do. I expect Buhari’s government to do well and not follow the path of the previous governments in the country. Every

money borrowed must be put into proper and judicious use for the benefit of all Nigerians.” Another silk, Norrison Ibinabo Quakers, backed the government’s plan if it will help in bringing the country out of recession. He said: “The Nigerian economy as we can see has hit murky waters and turbulence. If borrowing is what will take us out of the woods, I have no objection. Until the various sectors of the economy are addressed, borrowing will simply amount to a short term economic or financial palliative.” “We are a consumer nation and it is time we diversified our economy. The president has called on his ministerial team to think outside the box, the implication is to do things differently. We cannot allow the status quo to remain and expect a turn around. It is rather unfortunate that successive governments frittered our common wealth and inheritance. We couldn’t save or invest the excess funds realised from the sale of our crude oil, which explains why we are going to the international money market to borrow. In addition, the recovered funds from politically exposed persons can also be deployed in kick starting the economy. Vice-President of the Nigerian Bar Association (NBA), Mr. Monday Ubani was not different. He said: “I think it is a normal thing. If you look at developed economies, they are heavily leveraged. America is leveraged. The same thing with China. They all borrow. But the question is, when they borCONTINUED ON PAGE 23

20 Law|Interview

monDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Akinlaja: Why Nigeria must return to regionalism

person committed criminal offence, the government has a legal right to prosecute the person. The well-settled principle of law is that if there is a legal right to do a thing, the motive for doing that thing by the person or body that has the right is of no concern to the law. Therefore, the question of whether or not the trial of the Senate President is politically motivated pales into insignificance. My humble view is that the Senate President should take advantage of all available legal paraphernalia to defend himself before both the CCT and the Federal High Court, but he must go the whole hog of the trial in the interest of his own political future and our legal system. The impression should not be given that people are not equal before the law.

Mr. Dayo Akinlaja is a former Ekiti State Justice Commissioner and Attorney-General . In this interview with BABATOPE OKEOWO, the Senior Advocate of Nigeria bares his mind on the forfeiture and prosecutorial powers of the Economic and Financial Crimes Commission (EFCC). He also speaks on constitution amendment and immunity clause among others. What is the position of immunity as it affects President, Vice President, governors and their deputies? It is now a matter of commonplace knowledge that there is constitutional immunity for the President, Vice-President, Governors and Deputy Governors. The immunity provision is to be found in Section 308 of the 1999 Constitution (as amended). The import and coverage of the immunity would appear to be explicit enough from the constitutional provision. In sum, no civil or criminal proceedings shall be instituted against a person holding any of the relevant offices for the period he is in office. Such a person shall not be arrested or imprisoned for the period in whatever way or manner and by whatever power, authority or contrivance. Then, no process of any court requiring or compelling the appearance of a person to whom the immunity applies shall be applied for or issued. How does this affect a serving governor as we recently have in a case involving the Ekiti State governor, Mr Ayo Fayose and the EFCC? Let me state without equivocation that this is an issue that signposts more of a moral burden than a legal conundrum. From the perspective of law, a resolution of the issue would simply involve a cognate interpretation of the relevant provisions of the Constitution to determine the limits of the right to immunity, the spectrum of the right to freedom against compulsory acquisition of property and the implication of the right to fair hearing under the Constitution. Sections 308, 36 and 44 of the Constitution are pivotal in the resolution of the matter. Decided cases on the ambit of the provision of the immunity clause in the Constitution would also come into play in the resolution of the seeming legal conundrum. However, it is to be noted that what is at stake here is unprecedented and existing cases may at best be of persuasive effect rather than touchstones for what would be decided. However, since the issue of the legality or otherwise of the action of the EFCC is now a subject of litigation, I must refrain from venturing to proffer a personal opinion in respect thereof. In appropriate legal parlance, the matter is now subjudice. I dare say no more than that we should all wait with bated breath to see how the matter turns out in court. What then is the rationale for investi-

gation when a judicial step cannot be taken in such circumstance? I mean, what is the essence of the anti-graft agency’s investigation? Akinlaja That notwithstanding, I believe it is still proper for me to answer your other questions bordering on the rationale for investigation when prosecution could not be immediately undertaken. There is nothing wrong in investigating a person who enjoys immunity while in office only for him to be prosecuted at the end of his tenure. That approach finds support in the provision of Section 308 (1) (C) of the Constitution and the Supreme Court decisions in cases like Fawehinmi v. IGP and Tinubu v. IMB Securities Plc. Without doubt, that is the sane, proper and imperative thing to do if we must not allow the beneficiaries of the immunity clause in the Constitution to commit blue murder and all manner of atrocities against the State with impunity while in office. Can security agencies stop a sitting governor from traveling under whatever guise or restrict his movement? To answer your question pointedly, no security agency has the right to prevent a governor from travelling. Every citizen of this nation is invested with the right to move freely within the country by the Constitution. Remarkably too, it is provided by the same Constitution that no citizen of Nigeria shall be expelled from Nigeria or refused entry thereto or exit therefrom. Section 41 of the Constitution is relevant here. If an ordinary citizen cannot be prevented from travelling, how much less a Governor. Although it should be mentioned that a person could be prevented from going out of Nigeria, for instance, if the objective is to escape from the law for criminal offence committed, that scenario would still not apply to a serving Governor as it would involve arresting the person concerned. A governor cannot be arrested. In plain terms, it would amount to a legal sacrilege and constitutional heresy, in my humble view, to subject a governor to such indignity. Having said that, it is axiomatic that charity begins at home. The import of that is that it is ungodly, morally wrong, revolting to logic and even politically insensate for any governor, in these days of prevalent incapacity to pay salaries and wages for months, to think of embarking on lesser Hajj. Such a religious rite can be performed anytime auspicious. The season we are in now is anything but auspicious for such. In my candid view, it does

It is politically insensate for any governor in these days of prevalent incapacity to pay salaries and wages to think of embarking on lesser hajj

not suggest that such a governor has made the welfare and wellbeing of his people the primary purpose of his being in office and that is rather unfair in the extreme. Although the Abia State impasse is before the Supreme Court , don’t you think a precedent had been laid? or what is your view on the entire scenerio that almost shut down governance in the state? I am of the humble view that the claim of the Abia saga being a coup is unnecessarily alarmist and unduly sensational in effect. Here is a situation where a court of law gave a decision and the body responsible for implementing the judicial decision did so, albeit with a somewhat unprecedented alacrity. In my humble view, there is nothing that has the vestige of a coup in that situation. It is legitimate for INEC to obey an order of a court of law for as long as the order is not set aside by a superior court. Be that as it may, once an appeal has been filed against a decision and the same is coupled with an application for stay of the execution of the judgment in question, it behoves of all parties to eschew whatever may have the effect of rendering the appeal nugatory or ineffective from the point of substance. Thus, if as said, there was an appeal and application for stay, there was nothing to warrant the issuance of certificate of return to the person who won at the level of the Federal High Court by INEC. It should have been plain enough that the matter is not over until disposed of by the apex court of the land. It is only after that stage that a real winner or loser would emerge. Whatever a party has before then could turn out to be a pyrrhic victory and the clarion dictate of circumspection is that parties should tread with caution. The way out is for parties to allow the status quo to remain pending the final determination of the matter by the Supreme Court. All hands should be on deck to facilitate the journey of the case through the Court of Appeal to the Supreme Court expeditiously in the interest of justice. What would you say of Bukola Saraki’s trial? Whether the trial of anyone is politically motivated or not is a nonissue. What is of importance is the commission or non-commission of alleged criminal offence(s). If a

There have been conflicting judgments at various courts in the land, does this not portend grave danger for our democracy? The issue of conflicting judgments is no doubt disturbing and worrisome. It is one phenomenon that must be critically confronted and put paid to for the sake of our judicial system. However, once cases are pursued to the last court of the land, Supreme Court, the prejudice of such conflicting judgments would be minimized. The Supreme Court is put in place to define what a judicial position on any particular matter is. As such, whatever the apex court says about an issue becomes the correct position that must be followed by other courts. Any court that does not follow that laid down position would have its judgment upturned by the Supreme Court given the opportunity to do so by the litigating parties. However, it is mentionable that more often than not, what the public may perceive as conflicting judgments may not really amount to conflicting judgments. Hardly can any two cases have the same facts and circumstances. Therefore, there are instances where two cases that may bear similar facts may have some underlying critical peculiarities that may warrant the later one not being decided in the way and manner the one that came first was decided. Be that as it may, it is expedient that all concerned should endeavor to ensure that the incidences of conflicting judgments are radically stemmed if not completely eradicated in our system. What is the position of the law on the way Nigeria’s federalism is practiced? If it is the position of the law, in my humble view, our federalism is practiced largely in the way and manner prescribed by the extant Constitution. However, it is becoming increasingly clear and inevitable from the realities of today’s Nigeria that we need to rework the Constitution to enable our federalism be what a veritable federalism should be. The present situation does not allow for proper harnessing of resources. There is no modicum of doubt in my mind that every geopolitical zone of this country has what it takes to thrive and flourish in terms of resources. Each zone should be allowed to control what resources abound within it and make contributions therefrom to the centre. That is the only way to encourage innovation and promote resourcefulness. In sum, we need to look towards a return to regionalism as it was the case during the first republic. Our situation now is just too dire for us to stick to reinventing the wheel. We must dare to be different in all material respects.

Law 21

monDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Judges, lawyers glow as new legal year begins Judges including members of the wig and gown are excited as the new legal year 2016/2017 commences in style. TUNDE OYESINA reports

ast week, the nation’s judiciary came alive as Monday, September 19 ushered in a new legal year. Judges and lawyers were excited to be back after barely two months of legal ‘inaction’. It was also a double beginning of the new legal year for 22 lawyers who were donned with silk wig. They were last Monday admitted to the Inner Bar as Senior Advocates of Nigeria. However, it is the tradition of the judiciary to proceed on annual vacation in July of every year. The vacation however is to mark the end of a particular legal year. During the period of the vacation, there would not be any serious activities in all the courts. But, there is always a vacation judge, whose work is to sit over urgent cases that cannot wait till the time of resumption. Most cases being heard during vacation are always not big cases due to the short period of the holiday. Last year, the Supreme Court heard 1,489 matters of which 908 were motions and 581 substantive appeals. In all, it delivered 268 judgements. This year was not an exception as the judiciary ended the 2015/2016 legal year in July while it proceeded on its annual vacation. The court however resumed for the 2016/2017 legal year last Monday. Its resumption was marked with a special court session presided over by the Chief Justice of Nigeria (CJN), Justice Mahmud Mohammed. Besides, the new legal year ushered in fresh 22 lawyers who were conferred with the prestigious rank of the Senior Advocate of Nigeria. They were formally admitted into the Inner Bar last Monday as Senior Advocates of Nigeria. The admission was a colourful one as their friends, families and associates thronged the Supreme Court headquarters, Three Arms Zone, Abuja, venue of the colourful event which attracted several dignitaries from all walks of life including the legal profession. Although the programme was billed to kick off by 10am, friends and families of the new silks started trooping in as early as 7am. This was in a bid to gain easy access to the venue of the programme. The new silks are the Director General of the Nigerian Law School, Mr. Olanrewaju Onadeko, Nnamonso Eminem; Prof. Muhammed Tabiu; Dr. Valerie-Janette Azinge, Olufunke Agbor, Olusola Ojutalayo, Richard Akintunde, Oyesoji Oyeleke, James Njeze Ikeyi and Elisha Kurah.

Senior Advocates of Nigeria in special court session after the new legal year service

Others are Adewunmi Ogunsanya; Olatubosun Olanipekun; Chief Kalu Umeh; Adewale Adesokan; Andrew Igboekwe; Fredson Okoli; Olaseni Adio; Olasheni Ibiwoye; Abdulhakeem Mustapha; Mba Ukweni; Edward Gyang Pwajok (former Attorney General Plateau State) and Prof. Chukwu Omaka. After their swearing in and oath administered to the new silk, the CJN presented his speech to mark the beginning of the new legal year. His speech also marked the last in his capacity as the nation’s CJN as he would proceed on retirement in November, when he will attain the statutory retirement age of 70 years. Apparently speaking against the backdrop of complaints against conflicting judgements made by various courts of co-ordinate jurisdiction over same subject matter, Justice Mohammed said that the National Judicial Council (NJC) had received petitions against some judges who delivered conflicting judgements. The CJN further stated that appropriate actions would be taken against any of the judges found guilty at the end of an ongoing investigation. New Telegraph Law recalls that there have been a couple of conflicting judgements in recent times, both at the level of the Court of Appeal and the Federal High Court respectively. The most recent in the various judgements is that of the Peoples Democratic Party (PDP), emanating from both Abuja and the Port Harcourt divisions of the court. The suit centers around the leadership of the party. The CJN, while expressing his displeasure at the slow pace of justice delivery in Nigeria blamed the delay in justice delivery on lawyers. Justice Mohammed said: “While we all rush to rehash the age-old rhetoric that Justice delayed is justice denied, the actions of our key stakeholders, particularly members of the Bar have often proven to be far from words. Sadly, certain members of the Bar are conspicuous in utilizing unethical, frivolous applications and appeals, multiplicity of actions in courts of co-ordinate jurisdiction and other act of calumny to frustrate the speedy dispensation of justice. The Su-

Actions of our key stakeholders, particularly members of the Bar have often proven to be far from words

preme Court takes a dim view of such delays and we will constantly introduce measures to reduce delay in the administration of justice as the past year’s statistics will doubtless testify. Justice Mohammed further expressed dismay over the growing trend of the disregard for laid down precedent in decisions from various levels of courts, especially at the appellate court. He stated that every court in Nigeria was bound by the decisions of the Supreme Court and would not graft a different outcome from those expressly laid down by the Supreme Court. “Several conflicting decisions were recklessly dished out by the Court of Appeal last year in appeals arising from various decisions of the Elction Petitions Tribunals, given on election petitions filed by parties who lost in the general elections conducted in April 2015. “Such decisions were made as a result of flagrant refusal of the Panels of the Court of Appeal involved, to be bound not only by its own decisions but also by the decision of this court.” The CJN also warned lawyers to cease from writing petitions against judicial officers directly to President Mohammadu Buhari. He however gave judges in the country a marching order to deal with any lawyer that maligns them. He advised lawyers to address their petitions to the National Judicial Council (NJC), who, he promised will act on it without delay. He charged the new SANs to imbibe the highest tenets of integrity and humility that befit their status. In his own speech, the Attorney-General of the Federation and Minister of Justice, Abubakar Malami SAN expressed concern over conflicting judgements from various courts in the land. Malami who was represented by the Solicitor-General of the Federation, Mr. Taiwo Abidogun called on the leadership of the judiciary to move fast in order to prevent the continuation of such occurrence. He also charged the Legal Practitioners Privileges Committee to come up with a policy

which will further ensure that those who were admitted into the Inner Bar were qualified both in practice and character. He charged the new SANs to remain a shining light in the practice of law. Speaking on behalf of the body of Senior Advocates of Nigeria, Chief T.J Onomigbo Okpoko SAN noted that the judiciary in the nation had in recent time witnessed a show of shame brought about by court of co-ordinate jurisdiction, assuming jurisdiction to hear the same dispute, between the same parties and delivering verdicts that were totally in conflict with one another. He however called on the CJN and the NJC to step in immediately in order to do damage control so as to save the justice system from further ridicule. The NBA President, A.B Mahmud SAN in his own address reiterated the need for the Bar to guard the reputation of the judiciary jealously. He said: “On our part, we shall continue to be strong advocate of greater independence of the judiciary. But that means we will fight even those within who seek to undermine its reputation.” Speaking on the state of the nation, Mahmud admitted that the country was facing daunting challenges. According to him, “getting out of our present situation demands concerted efforts of all citizens and all institutions. The expectation of the legal profession is enormous. We must demonstrate patriotism and leadership as well as knowledge and skills. We must work to enhance confidence in the legal system, promote the rule of law, guarantee protection of citizens as well as promote the sanctity of contractual obligations thereby improving the business environment.” Speaking on behalf of the new SANs, the Director-General of the Nigerian Law School, Mr. Olanrewaju Onadeko called for an effective pupilage system for new entrants into the legal profession, adding that such will avail them a period of hands-on apprenticeship in law establishments, for a total comprehension of law practice.

22 Law|FILE

monDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Re-opening of previous crimes: Agenda for investigators Wahab Shittu

he searchlight on all categories of law enforcement agents â&#x20AC;&#x201C; Police, Anti-graft agencies, State Security Services, and other intelligent agencies have assumed lately increasing dimension given the declared war of the present administration against corruption and the urgent need to stamp out all forms of criminalities whether occurring in the past, present or the future. In many instances, Nigerians have expressed frustrations with the process blaming the state for not being able to bring alleged perpetrators of heinous offences to book. The blame game has shifted from the police to the lawyers with some other elements also pointing accusing fingers in the direction of the judiciary. This intervention is designed to highlight some of the basic elements that could deliver successful prosecutions starting of course with the primacy of effective and efficient investigations and what ought to be put in place to achieve this objective. Investigation must focus on basic tenets i.e. identifying who committed the crimi- Shittu nal act and gathering sufficient evidence to secure a conviction. The element of effective and efficient investigation is particularly very important given the fact that investigation is the gateway to the courts and unless it performs adequately, the quality of subsequent justice will be poor. Before proposing factors that ought to be put in place to deliver quality investigation outcomes, the first proposal that I wish to make is that no case should be taken to court without proper investigation no matter the extent of public outcry. Secondly, emphasis should be placed on investigation led arrests as opposed to arrest led investigations. Thirdly, arraignment of suspects in court should be based on verifiable, conclusive and supportable findings arising from diligent investigations. Fourthly, investigators must be available at all times to give evidence in proof of the outcomes of the investigations. Fifthly, investigators must carry out all necessary steps including obtaining all relevant evidential materials in support of investigations. It is also important to guarantee the security and welfare of investigators including potential witnesses as well as sensitive documents in aid of the trial process. More importantly, it is important that the investigation process is adequately monitored to forestall compromise and severe sanctions should apply in the event of breaches. The other element that should be guaranteed is the security of evidential materials recovered during investigations if possible ensuring that such materials do not fall into private hands who could be subject of attacks targeting of course the recovery of those documents. It is also important to constantly test the character, integrity and moral standards of investigators including ensuring availability of up to date training programmes for investigators. There should also be stiffer penalties available to officers who deliberately bungled investiga-

tions for pecuniary or other vested interests. My final take on this is to call for a code of ethics to be put in place for all categories of investigators as a policy framework Investigations play a crucial role in our criminal jurisprudence as they form the basis for all prosecutions and trials. There is no investigative judge under the Nigerian Legal System â&#x20AC;&#x201C; the legal process is initiated by the prosecutor on the basis of the information received or obtained from sources, such as individuals, governments, international, intergovernmental or non-governmental organisations, or AU qua UN organs. Once the prosecutor is satisfied that there are reasonable grounds to believe that crimes within the jurisdiction of the court/tribunal have been committed, an investigation begins. By this token, the prosecutor is imbued with the responsibility of collecting evidence and information used for issuing indictment against suspected perpetrators; the prosecutor has the power to summon and question suspects, victims and witnesses, collect evidence and conduct on-sight investigations. In doing so, the prosecutor may seek the assistance of the state authorities concerned and such authorities are under obligation to cooperate with investigations and prosecutions. A fair and effective criminal justice system, an integral part of which is crime investigation built public confidence and underscores respect for law and order. In essence, crime investigation is the process by which the perpetrator of a crime, or intended crime, is identified through the gathering of facts/evidence, although it may also involve an assessment of whether a crime has been committed in the first place. Investigation can be reactive, i.e. applied to crimes that have already taken place or proactive, i.e. targeting a particular criminal or forestalling a criminal activity planned for the future. In this light, an effective in-

Investigations and investigators should be at the front burner of championing the cause of justice

vestigation and efficient investigator are a necessary prerequisite for the prosecution to charge a defendant. Prosecution can charge defendants with two types of individual criminal responsibility. The first is for personally planning, instigating, ordering, committing or aiding and abetting in a crime. Such responsibility encompasses the doctrine of joint criminal enterprise, which has often been used to describe situations where several persons having a common purpose embark on criminal activities. The second is for being in the position of authority and knowing or having reason to know that a subordinate or subordinates were about to commit or had committed such crimes but failed to prevent or punish them. This is otherwise known as superior responsibility. In other words, in the commission of a crime, there are usually the principal offenders and the secondary offenders. The Principal offenders are usually the ones whose act is the most immediate cause of the actus reus. Secondary parties are usually those who aid, abet, counsel or procure the commission of a crime. To conduct criminal investigations effectively, an investigator will need considerable powers. These include the power to detain a suspect; seize property as evidence; search for evidence; both in premises and on persons; interview suspects (and, in doing so, question their honesty and character, which in some countries may otherwise be considered to be an act of defamation, a criminal offence); require samples, such as fingerprints and DNA, and to take photographs; run identification procedures; interview witnesses, including victims; ask members of the public questions; keep and maintain personal and confidential information; use technical and personal surveillance and use other intrusive means to observe persons; work undercover (i.e. pretend to be someone else) or use informants; protect and relocate witnesses; undertake otherwise illegal activity, such as possess illegal substances, carry weapons, force entry to property, or monitor illegal internet traffic. Increasingly, an investigator also needs to be able to call on international assistance in order to track the activities of criminals across internationally borders. There are normally international organisations and bi-lateral agreements in existence that can offer support, but such facilities need to be accessible and viable for any investigator working at a local level. In addition to developing an understanding of the strengths and weaknesses of a stateâ&#x20AC;&#x2122;s approach to the investigation of crime by police, the assessor should be able to identify opportunities for reform and development. Technical assistance in the area of police investigation in the context of a broader strategic framework may include work that will enhance drafting or amendment; implementation and monitoring of relevant legal framework, including Codes of Conduct and/or Criminal Procedure; development of forensic science capacity; enhancement of investigation skills and standards,

especially in specialist areas, such as financial investigation, cyber-crime, interviewing techniques; equipment and processes for proper and secure handling of evidence and exhibits; enhancement of identification procedures, including use of photo-fit, photo identification, and identification parades; rules, guidelines and training on use of covert surveillance and informants; transmission of good practice in interviewing suspects; relevant guidelines and training materials. The jurisprudence of investigations and investigators in the Nigeria political landscape appeared to have been swept under the carpets until the recent reassured declaration by the President to re-open previous crimes, this is against the backdrop of the purpose/essence of criminal law which is to punish and deter the culprits. The list of murder and assassinated victims in Nigeria seems to be swelling with the Police seeming lost. I wonder whether it is a case of conspiracy or outright lousiness. Check the list: Dele Giwa, Dipo Dina, Bola Ige, Moshood Abiola, Engr. Funsho Williams, Dr. Ayo Daramola, Kehinde Fasuba, Chukwuma Ogbueli, Odunayo Olagbaju, Pa Alfred Rewane, Chief Dikibo, Harry Marshal, Suliat Adedeji, Kudirat Abiola, Tunde Oladepo, Omololu Falobi, Godwin Agbroko, Abayomi Ogundeji, Bayo Ohu and Edo Sule Ugbagwu. The pain of losing these Nigerians so early and so cruelly remains fresh for us. Its stabs us each time we remember that the vacuum they have created will never be filled again. In this wise, investigations and investigators should be at the front burner of championing the cause of justice by fetching out and prosecute the perpetrators of this illegality. Investigators deal with many different categories of witnesses during the investigation, including victims and survivors, experts, internationals and insiders. Victim or survivor witnesses are a crucial source of evidence as they are in a position to describe what took place and identify those involved. This is critical in the preparation of the indictment and can often lead to new sources of evidence. Actually finding the first witness can sometimes be difficult. Investigations often started years after the events took place, and witnesses might have moved away or died. The passage of time and the removal to a location far from where the events unfolded can dull the memory of some witnesses. Often, while the evidence given will show who was directly involved, those identified tend to be lower level suspects, and eyewitness evidence cannot identify where the orders came from or who the commanding officers were. Finally, a witness may decide not to testify because they wish to forget the events that took place, or they are psychologically unable to give evidence. They may also fear intimidation or reprisals. Expert witnesses are connected to the investigation in some manner but were not directly involved in the events. It can include, for example, military and political analysts called to provide a background to what was taking place across the country or to interpret document collections, or scientific researchers who may have helped uncover evidence such as mass graves or examined crucial aspects of the evidence such as DNA samples.

Law|News 23

monDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Lawyers, stakeholders unveil plans to Ogunade, Ubani defend emergency bill tackle incessant building collapse CONTINUED FROM PAGE 19

Foluso Ogunmodede

iqued by perennial problems of building collapse in the country, one of the foremost nation’s law firms, Synergy Attornies has said only ‘Legal Due Diligence’ was capable of arresting the trend. Besides, Synergy Attornies and its associate partner, Juweirat Law Resource Center said it was ready to proffer myriads of solutions at a workshop to ensure incessant collapse of buildings in the country was brought to an end. The workshop, Synergy Attornies said would on Wednesday have a brainstorming session on a theme entitled “Legal Due Diligence on Building and Construction.” The event coordinator, Lady Edith Uduji in a chat with New Telegraph said legal due diligence was central to the myriads of solutions and remedies that would address the collapse of buildings in the country. She said: “Due Diligence in this context referred to the seat of information on all the stakeholders in the industry expected to have obtained an investigation before embarking on construction. Due Diligence also can be seen like in any area of project management, there must be due diligence conduct. But the one that is central to the workshop is the legal due diligence and by this we want to come up with a due diligence checklist at the end of the workshop so that if you are embarking on building and construc-

Foluso Ogunmodede

hairman of Heirs Holdings and founder Elumelu Foundation, Mr. Tony Onyemaechi Elumelu, foremost lawyer and Chairman Bi-Courtney Limited, Dr. Wale Babalakin (SAN) and the Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu are among scores of dignitaries including 10 Senior Advocates of Nigeria expected as guest speakers at this year’s annual law week of the Lagos branch of the Nigerian Bar Association. They are to speak on “Judiciary in an emerging economy, challenges and prospects; Financial Due Diligence and antibribery Laws; Emerging trends in Copyright, Computer Software and Trademarks; Mergers, Acquisitions and Strate-

tion you have your due diligence checklist as to guide you to reduce the risks that you are exposed to and you become more competent as other industries.” Also, she unveiled the firm’s plan to engage major stakeholders in the construction sector to deliberate on legal due diligence on building construction, saying that the planned workshop would not be a gathering of lawyers alone but would cut across global conception from construction, civil engineering, building contractors, banking, insurance, design contractors, real estate, surveyors, architects to other different professions with a link with building industry. Uduji said: “The aim of organizing the workshop is that by the end of the workshop we should have been able to address the significant but often neglected compliance gaps in building project conceptualization and execution that leads to the incessant building failures and collapse experienced in contemporary Nigeria. We would have also addressed the shortcomings observed in the entire gamut of building and construction industry and to also generate a compendium of easily accessible report for use as the industry stakeholders and regulators. The workshop is not meant for lawyers alone. It is a workshop that will cut across different professions to global conception shifting from construction, civil engineering, building contractors, banking, insurance, design contractors, real estate, surveyors, architects and different

other professions that are involved in this industry. We are also looking for a defined audience of about 60 participants but if the demand is so high there might be a repeat much later. On what would constitute benefits, she said “the benefits of this workshop to the intending participants is that first and foremost it will enlighten participants on the tenets of the building and construction industry, the various regulations to be complied with, roles to be played by the various regulatory agencies in ensuring that due diligence is conducted to avoid dare consequences. They will also be made to appreciate the impact of the existing legislation regulating the industry, identify the various lapses of this legislation and the enforcement which have resulted in the various building collapses and work together to find ways to prevent future occurrence. Asked on legal framework, Uduji said that there was the need to review various laws and legislations if frequent building collapse in the country must be put to an end. She said: “To forestall the reoccurrence of this incessant building collapse, I believe it is important to critically examine the law, related implications of identified risks, proactive steps to be taken as well for their avoidance and post incidence management of the consequences of risks when they do occur as well as interrogate the remedies open to innocent parties. On the National Building Code to regulate con-

duct and operations of professionals and stakeholders in the construction industry and its impact, she said “it appears the relevant professionals and stakeholders do not appreciate the objectives of the National Building Code and have not thus effectively utilized it well enough for the country to enjoy the inherent benefits. Given recent happenings, the impression by the federal and state government has become more compelling. Also, she spoke glowingly on who is liable in law, this among others would be addressed at the planned workshop as the public had the right to know who was culpable in the event of the building collapse. Uduji said: This question is so relevant and that is what makes the workshop a very important one. It shows the need for this type of workshop because when things like that happens and proper laws are not put in place on who is to be blamed, is it those that manufactured the building materials? Is it the contractors? Is it the engineers? Is it the architects? Is it the bankers or even the lawyers? This is an area of concern. What I have to say here is that it depends mainly on the facts of each incident upon investigation. “Legal roles or responsibilities of all building and construction control agencies, managers or those who monitors the activities of companies, developers as well as the existing regulatory laws must be considered and the risks to be taken care of must be considered as well.”

row, what do they use the money for? They use the money to develop their key infrastructure. When this is done, it acts as a tonic to economic development. The multiplier effects of such borrowing and spending on key infrastructure and other sectors of the economy is usually high. The country is safe and many things will be working perfectly. When all these key indices are in place, the economy will boom. A booming economy will generate more money, even to pay back the loan.” “But if you borrow to steal, then, things will not go the way it should be. In the past, Nigeria governments have borrowed so much and there was no effect on the key sectors of the economy. No effect is seen in health, education, power and other key sectors of the economy. That is why we had to pay and we are still paying. Even monies recovered from looters were re-looted and that is why Switzerland is now giving us new conditions before our money stashed in the country can be returned. The Swiss government is now saying we must put structures in place that shows transparency before the money can be repatriated. “A point of note is that most of these foreign loans are with low interest rates. So, what I am saying in essence is that there is nothing wrong in borrowing provided that those borrowing were used to activate economic activities in the country to allow for an easy pay back of the loan. I want

to say that if we have provided for a budget which has components of key basic infrastructure but there is no money to finance it, then, there is no other alternative than to borrow. But, we must decide which borrowing we are taking, either internal or external. Borrowing internally may not be enough to service the budget. Hence, the need to borrow externally. However, the caveat is that the loan must be put into proper use in the area of developing infrastructure and service of capital projects. “So, for me to condemn the action, I have to be convinced that the government has ulterior motives of borrowing the money. If the intention is to finance the budget and take care of the infrastructural needs of the country, then, I am in support. I have absolute confidence in Buhari’s government that if it is given this within four years, it will erect a foundation for us. Buhari may not be perfect. In fact, I have seen a lot in this government that is not perfect. But I think the president is trying to give us a new orientation that we need to rely on our local products. The government is saying we should love our country and that we can’t claim to be a giant by relying on one thing which when it crashed, we just go and begging. If we put the right economic policies in place, we will soon get out of recession. So, I think Buhari’s government is believable, though it may not have CONTINUED ON PAGE 24

Magu, Babalakin, Elumelu, others for NBA week gic Alliances: The role of a awyer; Aircraft Leasing and the Global jurisdictional issues, as well as a Mock Arbitration legal clinic, among others. In an address at the weekend, Mr Oluwakemi Balogun, a Senior Advocate of Nigeria and chairman, Law week committee said the branch would dwell on “Judicial Independence and the Democratic Process” as its theme as no fewer than 10 Senior Advocates had agreed to speak on the topic. According to Balogun, the annual event which would come up between October 5 and 8 considered the topic--Judicial Independence and the Democratic Process in view of “perceived assaults on judicial indepen-

Elumelu

dence and the deleterious impact such anomaly may have on our nascent democracy.” Balogun said: “The theme of the Law Week is “Judicial Independence

and the Democratic Process.” The theme is especially germane in light of perceived assaults on judicial independence and the deleterious impact such anomaly may have on our

nascent democracy.” It will be chaired by a former Justice of the Supreme Court of Nigeria, Justice George Oguntade while the Keynote Speaker, Dr. Olisa Agbakoba (SAN) will tackle the theme of the Law Week, “Judicial Independence and the Democratic Process.” Other topics to include Judiciary in an Emerging Economy, Challenges and Prospects; Financial Due Diligence and Antibribery Laws; Emerging Trends in Copyright, Computer Software and Trademarks; Mergers, Acquisitions and Strategic Alliances: The Role of a Lawyer; Aircraft Leasing and the Global Jurisdictional Issues, as well as a Mock Arbitration legal clinic. Other topics are Port

Regulations and Infrastructure in Nigeria; Business Development in a changing Legal Market; Is Advocacy Training an important part of a Young Lawyer’s Development? Combating Money Laundering: The Roles of Lawyers and the Judiciary. Continuing Professional Development/Continuing Legal Education credits will be awarded to participants at the Law Week. “Babalakin (SAN) will tackle the topic, “Judiciary in an Emerging Economy: Challenges and Prospects.” Discussants for the session include financial czar and Chairman of United Bank for Africa, Mr. Tony Elumelu as well as the Human Resources & Corporate Services Executive at MTN Nigeria, Ms. Amina Oyagbola.”

24 Law|news

monDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Lawyers back Buhari’s emergency bill C O N T I N U E D F R O M PA G E 2 3

gotten it right hundred per cent.” Human rights lawyer, Festus Keyamo also throw his weight behind the planned borrowing. He said: “My take on the issue is that desperate times need desperate measures and what is only left is for the citizenry and the masses to demand openness and accountability in a way the borrowed money is spent. The way things are now, if we don’t resort to foreign borrowing, we may be in deeper trouble. “If the economic experts with the government feel that borrowing is the best option at this time, I am in support of it. Even, the United States borrows because the country is in debt. The same thing applies to China. The only problem with Nigeria has always been utilizing these funds for capital projects that can generate employment and not on recurrent expenditure. So, Nigerians must insist that not one kobo of the money must be used for recurrent expenditure. Everything should go to capital projects that will increase in value overtime and can generate employment.” Another lawyer, Wahab Shittu, drumed support for the bill insisting that it was capable of turning the nation’s fortune around if it becomes law. He said: “I am in support of all options that will deliver the country out of its present state of recession. In actual fact, I am not one of those who are wary of our opportunities being wasted. I don’t subscribe to that because I trust this present government. I believe Buhari is honest and is committed to ensuring the reform of the country. What has been militating against his efforts is inadequate resources and mismanagement of resources by previous governments. So, if he can borrow and take time to recover some of our stolen wealth, I think it is a good idea. With this, I think he will be able to fix the economy and I urge Nigerians to support it. “Nigerians across borders are suffering and that cannot be overemphasized. The reality is that we are suffering at the moment. Average Nigerians are indeed suffering. So, everything that can get the country out of the woods as soon as possible is something we should look at, including offshore borrowing. I don’t think we should entertain any fear as to whether or not the borrowed money will be put into proper use because the president is a credible man. He is also sincere. I am in total support of the borrowing plan and every other thing that will get us out of this mess.” Wale Ogunade also believes it is the best thing for the government to do, saying the problem is not about borrowing money but about using the money for the intended purpose. He said: “Generally, before anyone borrows money, he or she has something in mind to use the money for. It has also been revealed that part of the problem with those in power is that monies borrowed in the past have ended in private pockets and were never used for what it was borrowed for. “Most of the time, government officials usually built their own interests into monies that were to be borrowed. This can be seen when they need like N500,000 and

Fagbohungbe

N1million was claimed. Of course, the loan will be given out because fantastic proposals would have been written to secure it. So, what I am saying in essence is that it is good to take money, but it will be better if the money was used for the intended purposes. I am in total support of government going offshore to borrow as far as the borrowed money is put into proper use for the benefit of all Nigerians. The masses must also monitor how the borrowed money is spent so that it will meet the needs of everyone.” “The economy needs to be fixed and with the laws on ground, the economy will collapse. So, the president needs to be given those emergency powers to work on. He needs such emergency powers to fix the economy.” “We are not under military regime but under a civilian government. So, the president needs the approval of the National Assembly to get the sweeping powers. The Constitution itself can be suspended in times of war and emergency. We are in an emergency situation now and I believe if the sweeping powers were given to the president, it will not override the interest of anybody. It is only those who have done something wrong that will be afraid. So, as far as I am concerned, the bill is okay and I expect the National Assembly to define the rules and regulations on how the president can use the sweeping powers.” But Fred Agbaje differ. He said: “I will never subscribe to the idea of the Federal Government going abroad to borrow. Of what essence is it despite the so called recoveries government claimed to have made from looters of public treasury and savings from the Treasury Savings Account(TSA)? Even savings from taxes and the rest of them, what is the government doing with all these funds? The Federal Government has realised so much in trillions from all these savings, particularly from looters. What the government has realised so far is more than the budget figure and there should be no reason to engage in offshore borrowing. Are they thinking that some of us did not go to school?” “If they are saying they now want to go offshore, then, it means those in power are full of lies. We have no business to be found in the market of borrowers. It is shameful. Government is saying it is busy

Agbaje

Keyamo

Ubani

We are a consumer nation and it is time we diversified our economy

with the war on corruption but the war actually starts from you and me. Government is not feeding Nigerians, there is no job anywhere and you are telling us that change begins with us. Change can never come from the people but it must start from the seat of power. When people’s lives are bettered, it is then that they can dance to the government’s tune.” Agbaje also queried the rationale behind the emergency power bill being mooted by the presidency saying it would work because the country was no longer operating under a dictatorial military regime. He went on: “Such tendencies are no longer welcomed in modern world. It is a clear violation of the provisions of the Constitution and an aberration of the principles of constitutionalism and democracy. Fixing of the economy can best be handled democratically. That is why we voted for democracy”. “If the legislators who are supposed to make laws for economic enhancements and good governance are busy sleeping, then, the executive should mount a serious campaign against the legislature. They should not be voted in again because so far, these legislators have not passed any law that will take the economy out of the woods. This is what should be done instead of the president raising up his hands and crying all the time. “The president should maximally utilize the powers he has under the Constitution. He has not effectively utilized these powers in conjunction with the national assembly. There are sufficient powers for the president which aligns

with the principles of democracy that he can invoke. He will not get that sweeping powers and any members of the National Assembly that passes such a law will be recalled. If I may ask, does the APC do any homework on the state of the economy before it came to power? Is the party not aware of the political and socio-economic decay in the country before they came in? Why will the party subject us to emergency powers under a democracy? Is sweeping powers derivable anywhere in the Constitution? President Buhari swore to uphold the provisions of the Constitution and he can’t do otherwise. It is too late”. Malachi Ugwumadu, in his reaction, disclosed that he was not surprised about the unveiling of the plan to borrow by the government. He said: “I remember that the 2016 budget was publicly announced to be funded through borrowing and if the government is now taking steps in fulfillment of the earlier position, it did not come as a surprise. The question is what is the self-sufficiency at the moment that will take us away from borrowing? I think it’s almost impracticable at this material time and except the government thinks out of the box seriously and fastly too, things might get out of hand. It’s over a year now into the coming on board of this government and it is indeed taking the administration longer time than people had imagined to figure out the way out of the myriads of problems confronting the country.” “But, I must insist that the sincerity of purpose is there because the administration doesn’t seem to have the requisite expertise to deal with the complexity of our economic woes at the moment. So, I think it is in their interest that whatever they are doing patrotically to ensure that we come out of the present state of recession and stabilize the economy is urgently done much more than it is being done at the moment. So, I am not taken aback by the government plan to borrow. I think it is expected. But, amidst all these borrowing, the economic indices must not be thrown overboard. The borrowing must be specifically targeted at a clear wealth creation agenda that will be of immense benefit to the people,” he said.

MONDAY, september 26, 2016 NEW TELEGRAPH

Insurance

Business

Recession: ‘MDAs no longer covered by insurance’

Interview ‘Nigeria can absorb more banks’

30 34

What's new FG under pressure to rescue airlines p.26

Olam raises $1.17bn to finance M&A in Nigeria, others p.26

L-R: Head, MSME Banking, Sterling Bank Plc, Mrs. Omolara Akinfolarin; Chief Executive Officer, FAREZ Limited, Mr. Victor Korede and Business Executive, South West, Sterling Bank Plc, Mrs. Temiwunmi Banjoko, at the MSME workshop organised by the bank in Ibadan, at the weekend.

Rates Dashboard INFLATION RATE August 2016 ..........................17.61 % July 2016.................................17.1% June 2016 ..............................16.5%

LENDING RATE Interbank Rate....................12.57% Prime Lending Rate...........17.93% Maximum Lending Rate...26.83%

EXCHANGE RATE

(Parallel Market as at September 23)

(Interbank as at September 23)

USD . . . . . . . . . . . . . . . . . . . . . . N442 Pounds . . . . . . . . . . . . . . . . . . . N560 Euro . . . . . . . . . . . . . . . . . . . . . . N475

l Foreign Reserves – $46.82bn as at 22/9/2016

USD . . . . . . . . . . . . . . . . . . . . . N305 Pounds . . . . . . . . . . . . . . . . . . N395 Euro . . . . . . . . . . . . . . . . . . . . . . N341

Source: CBN

N4trn investments at risk as local oil firms’ accounts go red PLUNGE Nigerian firms’ production dips below 300,000 barrels daily, as struggle for survival worsens

The Business Desk Ayodele Aminu

Adeola Yusuf

Bayo Akomolafe

Deputy Editor (Business) 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

he financials of more indigenous firms in Nigeria’s oil and gas industry have slid into red, threatening their over N4 trillion investments in the country. The harsh economic condition, buoyed by low production and price rout that had thrown Nigeria into recession, has worsen the financials of the indigenous oil firms, according to a note by FBN Capital. Nigeria is going through its first recession in over 20 years, triggered by low oil prices. Inflation rose to an 11-year high of 17.6 per cent last August. Naira has traded at a record low of N425 to the dollar on the parallel market since last week. Two major indigenous players, Oando and Seplat, led the pack of revenue losers for the first time in many years, at a time the accounts of many local firms have turned red. Seplat, according its financial

results, recorded a half-year loss from bountiful profits for the first time since the company started oil and gas production business. Oando Plc, which is another major indigenous player, said that it made a loss after tax of N27 billion in the first half of this year, a drop from the N35 billion loss it recorded a year ago. Aside from Oando and Seplat, the books of more indigenous firms have showed slide in revenues, while accounts of many are already in red, the FBN Capital document stated. The indigenous oil servicing firms are the worst hit in the downturn, an executive member of Petroleum Technology Association of Nigeria (PETAN), the umbrella body for indigenous oil firms, told New Telegraph by telephone from Port Harcourt. He said: “Many of them are on the brink of extinction. They have tried all cost cutting measures, beginning from downsizing to cut down in investments. Still, they have not gotten it right. “We at PETAN have sent a ‘Safe Our Soul’ to government on several occasions. We need intervention funds for local firms because, as we speak, a lot of serving companies have slashed the number of work days for their staff from five to just two in a week for the few remaining staff in their services. It is true that things are hard for all of us.”

N5 trillion Being the total number of Nigeria banks’ loans granted to oil, gas and power investors in 2013 and 2014

Chief Executive Offficer of Seplat Petroleum Development Company Plc, Mr. Austin Avuru, who corroborated this view, said that about 70 per cent of the nation’s production from the traditional terrain of onshore and shallow water had been locked in. He said: “A year ago, we were battling with zero production and zero revenue for upwards of five, six months. Some of us no longer check the oil price, it has become irrelevant. Oil price is only relevant when you produce.” He added that the oil and gas industry was undergoing a major transformation a couple of years ago aimed at moving it away from just being a primary revenue earner for the Federal Government to becoming an enabler of economic development. He said: “We have said that this industry will move away from domestic consumption of less than 300 million standard cubic feet of gas per day to three billion scfpd and in the process, energising companies like Dangote, so that we can become a net exporter of cement and fertilizer and, in the process, delivering 15 gigawatts of electricity and all its multiplier effects. “That is the journey that the industry started a few years ago. Some forces, unfortunately today, are interrupting that journey. CONTINUED ON PAGE 26

BUSINESS |news

MONDAY, september 26, 2016 NEW TELEGRAPH

FG under pressure to rescue airlines QUICK FIX Government is focusing on how to ameliorate airlines’ challenges

Wole Shadare

he Federal Government is under immense pressure to rescue Nigerian carriers from extinction, as it weighs options that would allow the airlines remain afloat. New Telegraph learnt that the Minister of State for Aviation, Hadi Sirika, is tinkering with many options. Among such options is to write a memo to President Muhammadu Buhari on the need to offer fresh bail out to the carriers. But this option seems not to be popular with stakeholders in the aviation industry who felt disappointed that the over N180 billion given to the

N4trn investments at risk as local oil firms’ accounts go red CONTINUED FROM PAGE 25

The crisis in the Niger Delta has taken a turn that must worry all of us, because when we don’t produce, our companies are destroyed, jobs are destroyed and the economy is destroyed.” Already, the cumulative production of the indigenous companies has dipped below 300,000 barrels daily. Prior to this, top 20 indigenous oil producing companies have a combined production capacity of 865,229 barrels per day (bpd), according to a 2014 report by Africa Oil & Gas. As at May 2014, the companies achieved the feat through individual and equity production. Top among the list is the National Petroleum Development Company (NPDC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), with gross production of 186,918 bpd from its 10 oil fields. Seplat is the largest private field operator at the moment with 60,113 bpd from three fields - Ovhor, Sapele and Oben. Nigeria’s financial sector, led by banks, granted over N5 trillion loans to energy firms, including oil and gas and power in 2013 and 2014, according to Nigerian Deposit Insurance Corporation, NDIC. Already, banks non-performing debt profile has risen to over NN546.02 billion as at March 2015 and has increased further following the slump in prices in the international oil market. Specifically, the NDIC has decried the build-up of nonperforming loans from N286.09 billion in 2012 to N354.84 in 2014 and further to N546.02 billion as at March 2015.

•Mulls bailout funds with low interest rates, others

airlines some seven years ago was not judiciously utilised by the carriers. Aero Contractors, which the Assets Management Corporation (AMCON) had taken over 60 per cent of its equity, owes N30 billion and Air Nigeria, N35 billion, as intervention fund collected by the management of the airline, which has been declared bankrupt and stopped operations, while IRS Airlines was said to have received N9.4 billion. Chanchangi Airlines got N9.4 billion, while Arik also benefited an undisclosed amount, suspected to be in the region of N40 billion. It was also learnt that government could be meeting with commercial bank in the country with the need to cut interest rate for carriers, which are held down by high interest rates. Banks’ interest rates are in double digits even

before inflation climbed to 17 per cent per annum, making it extremely difficult for them to repay loans. A source close to the Ministry of Transportation, who spoke on condition of anonymity because he was not authorised to speak, said the Federal Government was poised to reposition the aviation industry and ensure that airlines’ challenges are ameliorated. The source further hinted that based on that, Sirika has met with various groups in the sector, especially airline operators, on how to revive their fortunes. Early this year, precisely in March, airline owners met with the Federal Government with the aim of cushioning the effect on the sector. The operators, under the aegis of Airline Operators of Nigeria (AON), noted that while air fares have

remained constant or reduced despite the weakness of naira against the dollars and pound sterling. According to them, despite the odds, the carriers still provide safe operations. They said that if the situation was not urgently tackled, it could lead to insolvency as most of the airlines were wobbling with signs that they could find it difficult to survive this year. In Nigeria, compared to other nations, domestic air travel is considered ridiculously low, a situation that has adversely led to the extinction of many carriers. For the past few months, the naira has weakened and exchanged at N436 against the dollar last Thursday. President of Airline Operators of Nigeria (AON) Capt. Noggie Meggison, lamented that foreign exchange was very

difficult to assess, considering that airline operations are dollarised. He noted: “We have met the Central Bank of Nigeria (CBN). They promised to give us priority. Aviation fuel takes 60 per cent of airline operations. The cost of running our operation is very high. We have met them on how government can come in to cushion the effect of sliding naira. It is definitely going to be a tough ride for the sector because of falling oil price.” The aviation sector has remained unattractive to most Nigerian banks, as loan requests by major operators are hardly considered. Airlines, which are the major beneficiaries of government’s funds, are also the worst hit by the current banks’ apathy to financing activities in the industry, as aircraft, which they hitherto present as collaterals for loans are no longer accepted by the financial institutions.

L-R: Ernst & Young (EY) Global Banking & Capital Markets Sector Resident,Christine Gagnon; GMD, Skye Bank, Adetokunbo Abiru; EY Financial Services Africa Leader, Andy Batesa and Executive Director, Technology & Services, Skye Bank, Innocent Ike, during a courtesy visit to Abiru by E&Young at the lender’s head office in Vistoria Island, Lagos.

Olam raises $1.17bn to finance M&A in Nigeria, others GLOOM The company has struggled with its businesses in the last six months due to price erosion in some core products

Bayo Akomolafe

espite its huge debts, Olam International has raised $1.17 billion to finance its merger and acquisition activities in Nigeria and other countries in 2017. It was learnt that the company raised $670 million in August last year by selling a 12 per cent stake to Mitsubishi and $500 million it raised last July. Even with the company’s profit of $3.7 billion this year, Olam is deeply immersed in a

$7.2 billion debt as of June 30, 2016. It was revealed that it bought a US peanut sheller, McCleskey Mills, for $176 million, including debt and the cocoa business of Archer Daniels Midland for $1.3 billion. Also, it announced the acquisition of wheat-milling firm, Crown Flour Mills, in Nigeria, for $275 million and in April, 2016, it took over Brooks Peanut for $85 million, including debt. A report by the company revealed that the amount it made was backed by the 19.9 per cent sales volume growth in Singapore, Nigeria, Benin, Ghana, Burkina Faso, Guinea Bissau, Cameroon and other countries. The report revealed that the company had been facing dull business in the last six months due to price erosion in some core products such as almonds. It noted: “One of the acquisitions that contributed to growth is a wheat mill and pasta manufacturing business in Nigeria,

which Olam bought in January, 2016. With its wheat milling in Nigeria and Ghana, the report added that the company was looking to achieve the same in Senegal soon as sub-Saharan Africa is one of the fastest growing wheat flour markets in the world. It stressed that African continent imports 33 million metric tons of wheat, which is 60 per cent of its consumption. It would be recalled that in the last six months, the firm made further acquisitions in peanut shelling and poultry breeding. Its chief executive officer, Sunny Verghese, however, said: “We remain confident that we built a diversified, well balanced business and that in most circumstances we would perform reasonably well.” He added that while the cotton and rubber businesses would continue to underperform, the food business would remain stable. Early this year, the company declared its intention to invest

N101.7 billion ($325 milion) on food processing and poultry in Nigeria and India. It signed a five-year $175 million loan agreement with a member of the World Bank Group, International Finance Corporation (IFC), to finance four food processing facilities in the two countries. Also, it announced an investment of $150 million to set up two state-of-the-art animal feed mills, poultry breeding farms and a hatchery to produce dayold-chicks in Nigeria. It was learnt that the loan from IFC has supported the Crown Flour Mill facilities in Nigeria as well as sesame hulling and Hemarus sugar mill and spice processing facilities in India. Last January, the company’s Group Chief Financial Officer, Mr. Neelamani Muthukumar, had noted that the food processing facilities, located in India and Nigeria, would provide a ready market for farmers in the communities.

BUSINESS | Movers, Shakers and Appointments

MONDAY, september 26, 2016 NEW TELEGRAPH

GlaxoSmithKline appoints CEO UNDP, Gombe empower 264

laxoSmithKline (GSK) has appointed its Head of Consumer Healthcare, Emma Walmsley as chief executive officer, to lead the British drugs giant and develop new treatments in a fast-consolidating sector. According to a statement from the company, Walmsley, who joined GSK from French cosmetics giant, L’Oreal six years ago, has a background in marketing. Walmsley, 47, succeeds outgoing Chief Executive Officer, Mr. Andrew Witty, who will retire from the company early next year, after almost a decade at the helm. According to the statement, Walmsley would join six other women who currently head one of the 100 companies listed on London’s benchmark FTSE index, but would oversee the largest of the seven, which include EasyJet, led by Carolyn McCall. The company added that details of Walmsley’s salary would be disclosed next year. The company employs around 100,000 people in United Kingdom, Nigeria, Ghana, United States and other countries across the world. The global pharmaceutical sector has undergone major consolidation in recent years, as companies battle competition for generic versions of their drugs. In the past month, US giant, Pfizer, announced a deal

to purchase biotech firm Medivation, which specialises in cancer treatments, for $14 billion (12.5 billion euros). Google and French pharmaceutical giant, Sanofi, have, meanwhile, agreed a joint venture focused on diabetes care. For its part, GSK agreed in 2014 to sell its oncology business to Novartis for $16 billion, while buying the Swiss group’s vaccines division in return. The pair also formed a joint venture for consumer health products, headed by Walmsley. “Walmsley is an outstand-

ing leader with highly valuable experience of building and running major global businesses and a strong track record of delivering growth and driving performance in healthcare,” GSK chairman Philip Hampton said in a statement. “Under Andrew’s leadership, GSK has successfully developed into a company with market-leading positions in pharmaceuticals, vaccines and consumer healthcare. These provide excellent platforms for sustainable, longterm growth,” the company added.

Bukar

he United Nations Development Programme (UNDP), in collaborations with Gombe State government, has commenced the training of 264 women and youths in the state. Pro. Iliya Dongs of the Dobast Management Consultants Limited said in Gombe that the participants would be trained in five different trades namely tailoring, fashion design, lumbering, Plaster of Paris (POP) and solar power installations. He noted that the training would be coordinated with 60 teachers who would be training

the beneficiaries for 21 days. Dongs added that the curriculum had been laid down from the beginning up to the end of the training where participants would master the skills that enable them start their businesses. He said that the government would give them kits to start their own business and become employers of labour in future. Also speaking at ceremony, the state’s Commissioner of Economic Planning, Abdullahi Pantami, reiterated the government’s commitment to partner with UNDP.

IMF appoints new head for African Dept

Walmsley

Insurance firm hires independent director he Board of Equity Assurance Plc has announced an Independent Director, Mr. Kyari Abba Bukar on its board. Bukar is currently the Managing Director/CEO of Central Securities Clearing System Plc (CSCS). As the managing director of CSCS, the central securities depository for the Nigerian Capital markets, Bukar according to a statement, was instrumental in ‘the transformation of the company from an entity that had a dysfunctional

youths, women in trades

culture to a customer-centric, efficient and resourceful organisation. Mr. Bukar holds a Bachelor of Science degree in Physics from Ahmadu Bello University, Zaria and Master of Science degree in Nuclear Engineering from Oregon State University, USA. He is an alumnus of Lagos Business School (LBS), Wharton Business School and Harvard Business School, USA. In the last five years when took over as CEO, the company’s profitability went up by more than four and half fold. He was appointed the chairman of Board of Directors of the Nigerian Economic Summit Group (NESG) in May 2015, after being on the board for about six years. Bukar represented the Organised Private Sector (OPS) in the Nigerian National Conference in 2014, where he served in the committee in charge of Economy, Trade and Investment. As chief executive officer of ValuCard Nigeria Plc (now

Unified Payments System), he led the company owned by a consortium of Nigerian banks and Visa Inc to promote the deployment and adoption of Visa products in Nigeria. Also, the CEO rejuvenated a company, which from inception had never turned a profit into a highly profitable entity by instituting the right business model, processes and recruiting the right people in achieving a culture of professionalism, customer service, excellence and dependability. As a member of the board and executive management for FSB International Bank (Fidelity Bank Plc), he was instrumental in driving the electronic banking franchise from an average player to a market leadership position. As a member of Hewlett Packard’s Senior Management team, he had proven record of achievements in managing technical and marketing programmes in a new business from start-up to profitability. He successfully led and implemented a world corporate level IT initiative as part of overall company-wide reinvention resulting in $85 million annual cost savings. Also, Bukar was involved in the development and manufacturing of many HP products, including inkjet technology products, hp laptops and some of the later scientific calculators.

he International Monetary Fund (IMF) has appointed Mr. Abebe Selassie as the new director African Department. He succeeded a Liberian, Ms. Antoinette Sayeh, whose departure was announced last June. The new director, according to a statement by the Managing Director of IMF, Ms Christine Lagarde, will coordinate activities in Nigeria, Ghana and other country in the subSahara Africa. According to the statement, Sayeh, an economist, began her appointment as the director of the African Department at the International Monetary Fund on July 14, 2008 till June this year. The statement quoted the IMF Managing Director, Ms. Christine Lagarde, as speaking glowingly about the new appointee from Ethiopia. She explained: “Abebe brings a profound understanding of the challenges facing Africa, having worked closely with policymakers from across the region for much of his career. His proven ability to provide intellectual leadership, track record of building collaborative relationships, analytical depth, and warm collegiality make him ideally placed to lead the IMF’s work with our membership in subSaharan Africa. “Having had the opportunity to work with Abebe over the last five years, I have been struck by his sound judgment, integrity, and commitment to teamwork.” The statement added that Selassie’s career has spanned the private sector, government, and the IMF. During his time in the IMF’s African Department, he was senior resident representative in Uganda, served as mission chief for South Africa, led work on the Regional Economic Outlook, and worked in various capacities in countries such as Cote D’Ivoire, Ghana, Kenya, Burkina Faso, Guinea, Liberia, and Sierra Leone. Recently, he oversaw the IMF’s effort to assist the three Ebola-stricken coun-

tries. Also, Selassie brings extensive operational and policy experience from his assignments in other IMF departments, including the Strategy, Policy and Review Department and the European Department. He worked in Turkey and Poland between 1999 and 2003, and was Assistant Director and mission chief for Portugal during the Eurozone crisis. He has also worked on low-income country and emerging-market programme and policy design issues. Before joining the IMF, Selassie worked for the Economist Intelligence Unit, specialising in sovereign credit risk issues, and then for the Ethiopian government as Principal Economist in the Office of the President. He holds a B.A. in Economics from City of London Polytechnic and a Masters in Economic History from London School of Economics. “The IMF remains deeply committed to serving our members in Africa. Abebe will bring a unique blend of extensive knowledge and experience to his new position as Director of the African Department,” Ms. Lagarde said.

Selassie

BUSINESS |Stock Watch

MONDAY, september 26, 2016 NEW TELEGRAPH

Conoil: Bottom line growth spurs demand for shares ers that notwithstanding the tough challenges in the country, and indeed in the downstream petroleum sector, the company would explore to the fullest, new opportunities that abound in the industry to its advantage. Adenuga also gave assured investors of the company’s commitment to cost-cutting measures in its operations, vast improvement in the quality of its products and services with a strong bottom-line as its focus. “These measures,” the statement added, “have positively contributed to our successful outing to reward our loyal shareholders”

Despite the persistent macroeconomic headwinds that has significantly impacted on the operating landscape of the oil and gas sector, Conoil has effortlessly navigated to grow its bottom line. CHRIS UGWU writes

he operating environment has been very difficult for operators in the downstream sector, as they rely mostly on importation of petroleum products to meet domestic demands due to lower output from the local refineries. This also came at a high cost due to depreciating value of the Naira and high bank charges. According to reports, with oil prices plummeting by nearly 60 per cent, the effect of the global slump has seen Nigeria’s oil export receipts decline dramatically and indigenous firms have faced a scale back in proposed Joint Ventures with international oil companies (IOC’s) deeper cuts to capital spending, finding new markets to counter US reluctance to buy, investor wariness and critically higher lending local terms due to a weakened naira. In addition to the decline in oil prices, the devaluation of the naira generated a significant foreign exchange loss in the downstream business. The nature of the business makes the sector extremely vulnerable to foreign exchange risks as operators import in dollar denomination and recovers their costs in naira. The delay of payments of subsidies from the Federal Government also helped to increase the sector’s woes, as the reduced revenue accruing to the government affected the reimbursement of oil subsidy. Coupled with challenges of erratic supply of public electricity, weak logistics, insecurity and other high costs of operations attributable to poor infrastructure have also contributed in making the business operating environment difficult. However, in spite of the aforementioned challenges, Conoil Nigeria Plc, one of the major players in fuel marketing in the country’s petroleum industry not insulated from the harsh milieu has recorded an appreciable results. The company’s bottom-line had grown during the full year ended 2015 and continued with the trends in the second quarter of 2016. Market watchers said the results surpassed expectations considering the volatility in the downstream sector of the oil industry and indeed, the nation’s economy. They were of the view that, going by this performance, the company might end up with a higher dividend payout for its shareholders at the end of the current financial year. The capital market has been reacting positively to the company’s financial performance, with a recent surge in the demand for its stock by investors. So far, investors have reaped a return of 96.85 per cent or N20.91 since September 8, when the result was

Conoil Plc. 2015 October 31

N27. 41

November 30

N27. 41

December 31

N24. 74

2016 January 31

N24. 74

February 29

N17. 43

March 31

N20. 10

April 30

N16. 45

May 31

N23. 00

June 30

N23. 00

July 31

N25. 22

August 31

N20. 57

September 23

N42. 50

Mike Adenuga

The Company’s 2016 half year financial results obtained by New Telegraph showed an increase in profit after tax from N359.413 million in 2015 to N1.042 billion in 2016, accounting for an increase of 190 per cent. Its profit before tax also grew from N528.548 million a year earlier to N1.566 billion during the period under review, representing a growth of 196 per cent. However, the company’s revenue dropped marginally by eight per cent to N39.514 billion in 2016 from N43.027 billion in 2015.

released to the investment community. Market sentiments for the shares of the company have fairly remained firm on the back of improved product rebranding and aggressive growth and expansion despite operational challenges. The share price, which closed at N27.41 per share on October 31, 2015, has recorded an increase in growth. At the close of business last Friday, the company’s share price stood at N42.50, a growth of N15.09 or 55.05 per cent year to date. Financials Against the backdrop of volatility in the oil and gas sector, Conoil ended the year with 176.5 per cent increase in profit after tax for the financial year ended December 31, 2015. The Company’s 2015 financial results obtained from The Nigerian Stock Exchange website showed an increase in profit after tax from N834 million in 2014 to N2.3 billion in 2015, representing an increase of 176.5 per cent. Its profit before tax increased from N1.5 billion to N3.4 billion, accounting for a growth of 125 per cent. The Company’s earnings per share also rose by 177 per cent to 333 kobo in 2015 from 120 kobo in 2014. Following the impressive performance, the oil marketing firm has proposed a 200 per cent increase in dividend payout to its teeming shareholders. The dividend of N2.08 billion is expected to be ratified by the shareholders of the company at its annual general meeting (AGM). If approved, shareholders will get N3.00 on every 50 kobo ordinary share, compared to N1 paid last year. Conoil also exceeded analysts’ expectations with a report of 190 per cent increase in profit after tax for the half year ended June 30, 2016.

Shareholders will get N3.00 on every 50 kobo ordinary share, compared to N1 paid last year

Profit drivers In a statement by the company, the management of Conoil attributed the strong performance to efficient management of resources, effective cost control policy, as well as reaping from its huge investment in the expansion and upgrade of its facilities. “For us, the downstream sector remains fundamentally attractive and viable today and the future,” the statement declared. According to the company’s management, “the result shows that we out-performed our previous year both in the top-line and should exceed our bottom-line performance at the current runrate. “The impressive performance was linked to the company’s innovative means of manufacturing and distributing products, huge financial investments in developing high-performance products and in the provision of services that matched and surpassed international standards. “With our clarity of direction and focus, our company’s longterm success is assured. We will sustain this improved performance and vigorously pursue our aspiration to remain the nation’s leading petroleum products marketer and one of the most profitable quoted companies.” It will be recalled that at the company’s AGM last year, the Chairman of Conoil, Dr. Mike Adenuga, promised sharehold-

Looking ahead The years ahead portend greater challenges in the downstream petroleum sector and demand pragmatism on the part of the players in the industry. According to the management, Conoil is gearing up for the anticipated challenges and opportunities that the new order is expected to usher in and has flagged off various projects and initiatives, which industry watchers believe will help the company capitalise and reinforce its strong position to deliver profitable growth for its teeming shareholders. It has stepped up investments in the core segments of the downstream business with a view to consolidating its competitive edge and breaking new grounds to further boost its market share. The strategic investment project, according to the management entails upgrading and construction of facilities in the priority areas, such as retail, lubricants, aviation and specialised products, so as to provide additional capacity that will enable it to meet the long-term needs of its growing business. The focus of the initiatives being pursued, according to Conoil, is to deepen the company’s market penetration and establish new streams of income to further strengthen its competitive edge. Adenuga expressed the determination to sustain the culture of taking advantage of opportunities in the emerging markets and organizing efforts and resources along enduring strategies for top performance.“There is an ongoing review of our business processes to boost commercial, innovation and supply chain efficiencies, to improve focus on growth opportunities and to enhance competencies that will drive accelerated progress,” he had said. “Conoil’s state of the art facilities at its depots in Lagos and Port Harcourt give it unparalleled leverage in storage and blending of products, in conformity with the world’s best industry practices. The depots ensure availability and prompt delivery of products and services to customers nationwide.” Conclusion The Nigerian oil and gas industry has continued to face multiple challenges arising from a weaker macroeconomic environment, it is, however, advisable for the sector to keep improving on cost control as well as revenue generating opportunities.

MONDAY, september 26, 2016 NEW TELEGRAPH

BUSINESS | Capital Market

The Nigerian Stock Market Exchange as at September 7, 2016

Insurance

MONDAY, september 26, 2016 NEW TELEGRAPH

HURDLES The Treasury Single Account (TSA) has made it difficult for ministries, agencies and departments to pay premium for cover

Sunday Ojeme

ollowing the prevailing economic recession in the country, many Federal Government’s ministries, departments and agencies (MDAs) have been denied insurance cover due to non-payment of premium. The situation has also been made worse by the strict adherence to the ‘No premium, no cover’ policy of the industry. Confirming the development in Lagos last week, the President, Nigerian Council of Registered Insurance Brokers (NCRIB), Mr. Kayode Okunoren, advised insurance brokers to be more creative by adding more businesses to their professional calling. Okunoren noted that this was not a period for brokers to fold their arms and watch the pendulum swing against them. He stressed that the current economic malady was impacting insurance business negatively as it had forced many policyholders to jettison policy renewal. He said: “Nigeria runs a cash and carry economy, where insurance is often placed at the lowest ebb of scale of preference, if included at all. Many policy holders have jettisoned the need to renew their policies. “There are no new businesse and to worsen the situation, Government agencies and parastatals, which happens to be the highest insurance consumers, have no wherewithal to pay premiums as at when due. The implication is that there are no cover for most government agencies and parastatals in view of the “No Premium No Cover” policy. “However, in all these, I like to implore my professional colleagues to hold the faith and believe in the change policy of the incumbent government. Howbeit, I can see a bright light at end of the tunnel. “I challenge you all at a time like this to be more innovative in terms of product development and continue to invent multiple streams of business ideas to weather the storm. It is not time to fold our arms and watch the pendulum swinging against us,” he said. Findings revealed that recent economic policies, including the Treasure Single Account (TSA) scheme put in place by government have further weakened the already battered premium expectation of the operators. An industry player, who earlier confided in our correspondent, pointed out that the accelerated policies put in place by the Minister of Finance, Ms. Kemi Adeosun, to reengineer the sector had become puerile as premium payment that forms the basis

Commissioner for Insurance,Mohammed Kari

Okunoren

Recession: ‘MDAs no longer covered by insurance’ for the industry growth has not been forthcoming. He lamented that for a whole year, the sector could only record a 19 per cent increase in gross premium income under the current administration, stressing that Federal Government’s economic direction had not been too clear to investors. According to him, it has actually been an admixture of feelings in terms of the economic impact on insurance.

When the economy is facing a challenge, insurance suffers. He said: “The economy and insurance, as you are aware, are like Siamese twins. In the last one year, government has been battling with the economy in terms of direction. This indecision is preventing investors from putting down money and it is also encroaching on the disposable incomes of Nigerians, making it difficult to make insurance a priority. You

recall that even when the economy was a bit stable, the industry was fragile, not many people like to be insured. “The other catchment is the corporate. The same thing applies to them. Certain government policies are not giving them idea on what to do. Even now premiums are no longer being paid, basically because of the TSA. Now everything goes into one account. That’s not good

for insurance. “In the face of this, however, the sector is expected to pick up with time especially with the consolidation bill. When the bill is eventually signed into law, it is going to impact positively on the industry. At least, the bill will ensure the industry is capitalised to where it should be and it will also ensure the full implementation of Compulsory Insurances.”

Royal Exchange posts N10.79bn 2015 gross premium

he Chairman, Royal Exchange Group, Kenneth Odogwu, said the underwriting firm posted a gross premium income of N10.79 billion in 2015. He disclosed this at the firm’s Annual General Meeting (AGM) in Lagos, adding that the result represented 14 per cent increase as against the N9.43 billion recorded in 2014. The net premium income peaked at N8.08 billion, profit/loss for the period (N1.29 billion) and total assets N 26.53 billion, while the net claims peaked at N3.04 billion as against N2.43 billion recorded in 2014. The underwriting expenses decreased by four per cent from N2.74 billion in 2014 to N2.64 billion last year. During the period under review, the management expenses were N3.27 billion as against N3.09 billion in the previous year. An increase in reserve

of N1.2 billion was made by the group for the insurance and investment liabilities of the life subsidiary with the period under review. Meanwhile, as part of its plans to raise the bar, the underwriting firm is planning to be more active in micro-insurance business. Odogwu said this was necessary to bridge the insurance needs of the public, including the upcoming millennial. According to him, the company’s goal is to continuously redefine, reinvent and differentiate itself in the market place. He added that its focus would be on achieving long term sustainable growth for its shareholders through broadening of its revenue base, improving service delivery support systems and at same time keeping a lid on its group wide cost. On his part, the Group Managing Director of the company, Mr Auwalu Muktari, said he was

impressed with the performance within the period. He said: “The performance of Royal Exchange group in 2015 was good show of spirit of tenacity, adding that at group level business retention levels were enhanced to enable us focus on our new business areas.” “Performance wise, our top line rose by 10 per cent year – on – year from N9.8

billion in 2014 to 10.8 billion in the period under review. He, however, said that results from the core operating activities dipped with underwriting profit declining by 32 per cent from N2.32 billion in the comparable period of 2014 to N1.5 billion in 2015 following provision of N1.1 billion made in respect of its Life Insurance contract liabilities.

Police demand retirees’ contributions from FMBN

he Nigeria Police Force has asked the Federal Mortgage Bank to facilitate the process of refunding the equity contributions it made into the National Housing Fund for its retired officers. T he D eput y I n s p e c tor General of Police In charge of Logistics and Supply, Mr Maigari Dikko, made the appeal at a meeting with the leadership of the bank in Abuja, Nigeria’s capital.

He decried that at least 3,0 0 0 retirees were yet to get their refunds after retiring from office. The equity contribution is a form of a retirement savi ngs plan which t he Nigeria Police Force has with the mortgage bank. Meanwhile, the acting Managing Director of the bank, Mr Richard Esin, explained the ef forts the bank had made to ensure that retired police personnel got their refunds.

BUSINESS | Insurance

MONDAY, september 26, 2016 NEW TELEGRAPH

Labour, state govt parley to offset pension INDEBTEDNESS Retirees across the country are being owed several months of pension under the Defined Benefit Scheme

isturbed by the incessant reference to the state as non-pensioner friendly, Imo State government is putting machinery in place to offset arrears of pension owed retirees. The move is a follow up to the approval of N1.2 billion by the state government for the month of August. Commissioner for Internally Generated Revenue and Pensions Matters, Ifeanyi Ararume, while disclosing this in Owerri, said the proposed meeting with labour had the authority of Governor Rochas Okorocha. It will be recalled that Imo State has been one of the states in the country with recurring skirmishes with pensioners under the aegis of Nigerian Union of Pensioners (NUP). Three weeks ago, pensioners in the South-East accused the governors in the region of owing them over 15 years of gratuity and pension. The senior citizens said apart from Anambra, other states in the zone were owing them gratuity and that backlog of pensions had risen to close to 72 months. They equally demanded an upward review of minimum pension from N10,000 to N25,000. The pensioners, who spoke through their Nation-

al Vice President, South-East zone, Dr Emeka Onwumere and Zonal Chairman, SouthEast, Comrade C. N. Udensi, said while other governors in the zone were showing some signs of readiness to “do something” on the issue, governors Rochas Okorocha and Okezie Ikpeazu of Imo and Abia states respectively had turned deaf ears to their plights. They said whereas the constitution stipulated that workers’ salaries and pensions be treated on first charge of the consolidated revenue, the federal and state governments in the country had consistently violated that section of the constitution. “Our situation has become so bad that these people don’t even consider us as breathing human beings. Okorocha before his second term bid pampered us so much apparently to enlist our support to the extent that before the election, we were just being owed two months pension arrears.

“But, immediately after his election, he has totally avoided us. He used us to win his election and after the election, he discarded us. We were clearly deceived. “In the case of Abia state, it is quite lamentable. Abia has a monthly wage bill of not more than N350 million and yet the governor has clearly treated us with levity and wants us to maybe die as some of our members have already died

as a result of sufferings, hardship and poverty. “Today, we couldn’t even afford to put on a good cloth. What we are wearing here are clothes we wore during burial ceremonies in our respective communities. That’s how bad the situation has become,” they noted. They, therefore, asked the Nigeria Labour Congress (NLC) to without further delay order a nationwide industrial action in

sympathy with the pensioners, noting that the obvious silence of the labour union was not going down well with them. “They should know that the fact that you are active today is not an indication that you will be strong and active tomorrow. “We were like them before we got to this point. Those active ones today will become pensioners by tomorrow,” they further stated.to permanent secretaries.

Nigerians urged to patronise insurance brokers Taiwo Hassan

ndividuals, corporate bodies and governmental agencies have been urged to patronise duly licensed insurance brokers for professional advice and value added services in buying insurance. The is also necessary to derive optimum value for their insurance policies. This advice was given by one of Nigerian¹s seasoned insurance brokerage experts,

Babajide Olatunde-Agbeja, Chairman, Boff & Company Insurance Brokers Limited. Olatunde-Agbeja, who is a former President of the Nigerian Council of Registered Insurance Brokers (NCRIB), explained that the prospective insurance buyers stand to gain greater benefits from insurance policies by dealing with a broker rather than dealing directly with the insurance companies. He argued that due to the

complex nature of insurance contract, the prospective clients were better served to transact their insurance businesses through the insurance brokers, who understand the nitty-gritty nature of the business. Olatunde-Agbeja noted that an insurance broker ensured that a comprehensive analysis of the prospect¹s individual or business risk is carried out to identify the insurance needs and advise accordingly.

L-R: Director, Royal Exchange PLC, Chief Anthony Idigbe; Company Secretary, Ms. Sheila Ezeuko; Chairman, Mr. Kenneth Odogwu and Group Managing Director, Mr. Auwalu Muktar, at the company’s 47th Annual General Meeting in Lagos. PHOTO: GODWIN IREKHE

PFAs UNIT RATE FOR RSA AND RSA RETIREE FUND AS AT 16TH SEPTEMBER, 2016 S/No PFA

Unit Value - RSA

DATE

Premium Pension

3.0852

16-Sep-16

Crusader Sterling

3.0396

16-Sep-16

ARM Pension

3.0293

16-Sep-16

Stanbic IBTC

2.9447

16-Sep-16

Legacy Pension

2.8739

16-Sep-16

NLPC Pension

2.7267

16-Sep-16

Pension Alliance

2.6373

19-Aug-16

Trust Fund Pensions

2.6266

16-Sep-16

First Guarantee Pension

2.5557

16-Sep-16

Sigma Pension

2.5264

16-Sep-16

Leadway Pensure

2.4659

16-Sep-16

AIICO pension

2.3673

16-Sep-16

Fidelity Pension

2.1746

16-Sep-16

FUG Pension

2.1390

16-Sep-16

Apt Pension Managers Limited

2.0968

16-Sep-16

AXA Mansard

2.0764

16-Sep-16

OAK Pension

2.0691

16-Sep-16

Investment One Pension Managers Limited

1.9051

16-Sep-16

IEI Anchor Pension Managers Limited

1.8852

16-Sep-16

IGI Pension Fund Managers Limited

1.5219

8-Mar-16

NPF Pensions Limited

1.173

16-Sep-16

Public service pensioners seek execution of 2010 pay increase

embers of the Association of Retired Senior Public Officers of Nigeria (ARFESPON) have appealed to the Federal Government to implement 53.4 per cent pension increase of 2010. The pensioners, who spoke in Lagos, also demanded that they be paid all their outstanding benefits of about 30 months. The President of ARFESPON, Lagos chapter, Olufemi Odewabi, said government was yet to implement the 53.4 per cent pension increase, following the salary increase it effected for federal public workers in 2010. He said: “The Federal Government is yet to listen to yearnings of retired senior public officers. We have been pleading with government to totally effect the 2010 increase in our pension benefits and to end the era of disparity in the payment of retirement benefits to pensioners. “Government had, during the regime of Goodluck Jonathan ,effected 53.4 per cent increase in the salaries of public office workers and failed to do same for pensioners. Section 173, sub-

section 3 of the Constitution of Nigeria states that pension shall be reviewed every five years or together with any federal civil service salary review, whichever is earlier.” “When we reacted to government’s non-compliance with the above section of the law regarding the increase it made in the salaries of its workers in 2010, government set up a committee to review our case. But the committee went contrary to the position of the constitution on the issue and recommended 33 per cent increase for the pensioners against 53.4 per cent effected on federal workers’ salaries.” He noted that his members were right in their demand for payment of the 20.4 percent deductions because all the reasons given by the committee for the deductions were wrong, adding that the tax percentage deducted by the committee was against Section 173, sub-section 4 of the Constitution of Nigeria, which states that pensioners in respect of service in the public service of the federation shall not be taxed.

BUSINESS | Financial Market News

MONDAY, september 26, 2016 NEW TELEGRAPH

BUSINESS | Financial Market News

MONDAY, september 26, 2016 NEW TELEGRAPH

Stocks market closes week bullish with 1.40% gain POSITIVE Investors staked 4.331 billion shares worth N16.803 billion in 16,797 deals

Stories by Chris Ugwu

he NSE All-Share Index and market capitalisation appreciated by 1.39 per cent to close last week at 28,247.07 and N9.703 trillion respectively. Investors had reacted positively to Nigerian stocks following the Central Bank of Nigeria’s (CBN’s) decision to keep its interest rates stable at 14 per cent to encourage capital inflows to the economy, which recently slipped into recession. Similarly, all other Indices finished higher last week, with the exception of the the NSE-Main Board Index, NSE Banking Index and the NSE

Consumer Goods Index that depreciated by 0.14 per cent, 0.73 per cent and 0.53 per cent respectively, but the NSE ASeM and NSE Insurance Indices closed flat. A turnover of 4.331 billion shares worth N16.803 billion in 16,797 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 611.527 million shares valued at N5.495 billion that exchanged hands last week in 9,650 deals. The Financial Services Industry (measured by volume) led the activity chart with 4.177 billion shares valued at N9.788 billion traded in 9,805 deals; thus contributing 96.45 per cent and 58.25 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 65.533 million shares worth N5.017 billion in 2,855 deals. The third place was occupied by the Conglomerates Industry with a turnover of 31.751 million shares worth N125.102 million in 594 deals.

Trading in the Top Three Equities namely – Great Nigerian Insurance Plc, FCMB Group Plc and Diamond Bank Plc (measured by volume) accounted for 3.299 billion shares worth N3.704 billion in 1,308 deals, contributing 76.18 per cent and 22.04 per cent to the total equity turnover volume and value respectively. Thirty-three equities appre-

ciated in price during the week, lower 34 equities in the previous week. Twenty-five equities depreciated in price, lower than 26 equities in the previous week, while 128?equities remained unchanged higher than 120 equities recorded in the preceding week. Also traded during last week were a total of 615 units of Exchange Traded Products (ETPs) valued at N6,070.20 executed in

Analysts see Nigerian policy rate on hold in 2016

ollowing the Central Bank’s decision to keep its interest rates stable at 14 per cent to encourage capital inflows to the economy, which recently slipped into recession, financial analysts at Exotix Research and Bloomberg have said they expect the policy rate to remain on hold through 2016, with the possibility of some token cuts in 2017.

Finance Minister, Mrs. Kemi Adeosun had advised the apex bank to lower interest rates so that the government can bor-

row domestically to boost the economy but the CBN Governor, Godwin Emefiele said the MPC considered calls for a rate cut but concluded that the biggest challenges the economy faces were unsystematic and incomplete structural reforms which raised cost, risk and uncertainty. According to the analysts, “based on the tone/content of the MPC’s communiqué, Exotix expects the policy rate to remain onholdthrough2016,withthepossibility of some token cuts in 2017

CloudTrade promotes ease of market access, says firm

he Eagle Global Markets (EGM) has said that its platform, CloudTrade, which allow clients to play the global market in Naira would promotes ease of market access by ensuring competitive and affordable capital could be used to commence trading the financial markets. While taking capital market/financial journalists through on the workings of the platform and the activities of the company, the Chief Executive Officer of Eagle Global Markets (EGM), Mr. Gbite Oduneye said that this previously was not the case as traders had to source for foreign currencies to fund their trading accounts, or deposit Naira equivalents, thereby limiting their trading capability and volume.

He said:”This disadvantaged position, together with the strain that the currency conversion process puts on the traders and even the economy, is now finally at its close. With CloudTrade, EGM clients are able to define their trading volumes in Naira, while getting up to the minute financial data in the form of economic news and a bird’s eye view on market performance using the powerful built-in indicators. “Developing the local market comes hand in hand with a pledge by EGM, to give primary focus to education and helping traders improve on their short and long term financial expectations. This is coming at a time when even on the global stage, the search for profitability and better yields across the financial markets,

21 deals, compared with a total of 945 units valued at N9,541.90 transacted the previous week in 18 deals. A total of 3,394 units of Federal Government Bonds valued at N3.263 million were traded in 5 deals compared to a total of 1,700 units of Federal Government Bonds valued at N1.591 million transacted the previous week in 6 deals.

is a huge and pressing topic,” Oduneye said. “EGM is offering the highest levels of transparency, ease of transacting and most importantly constant innovation that will lead to client development. The company has succeeded in eradicating the bureaucracy in trading global markets in the sense that it doesn’t have to put pressure on the foreign exchange (FX) because all global market trades through its platform are done in Naira. It gives more value to the Naira because more people will have to look for it to trade global markets. “Within just three months in Nigeria, EGM has over 600 active trading clients that qualified to trade on their platforms. “About 50 per cent of trad-

ing applications were declined because we are ensuring we do the right things –including Know Your Customer and other regulatory checks because in the long run, it will pay-off. The reason for all necessary check on trading applications is for us to ensure best practice. This is what most of our competitors haven’t done,” Oduneye noted. He listed advantages of keying into EGM to include two platforms (one web based with no need for downloads); customizable ECN based accounts; Naira platform that eliminates need for currency conversion in deposits and withdrawals; competitive spreads; analysis support (trade of the day); platform support (Webinars every Friday); trading support, among others.

if theexternaldynamicsandinflation continue to improve”. In a report obtained by New Telegraph, the analysts said:“On 20 September the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) voted unanimously to keep rates on hold at 14.00 per cent. The MPC communiqué spoke (relatively) clearly about its mandate and the limitations of monetary policy; its decisions appear to have an empirical basis; and most importantly, the bank did not bow to pressure from the Finance Ministry or other domestic actors to cut rates”. In contrast, the Central Bank of Kenya (CBK) recently decided to cut rates by 50bp to 10.00 per cent. Reacting also to the development, the experts said the decision was against their expectation as well as consensus, both of which had been looking for the CBK to hold steady at 10.50 per cent. “The surprise here is not about whether or not the economic fundamentals justified it – clearly, they did – but whether the CBK would make that cut knowing that it would inflict further pain on the banking sector. Fundamental justification for the cut includes inflation in August falling to 6.3 per cent yoy and it is likely to continue easing as we head into Q4 16. Core inflation has barely moved in the last few months, ranging between 4.8-5.4 per cent since January 2016.

MONDAY, september 26, 2016 NEW TELEGRAPH

BUSINESS | Interview

Mr. Segun Oloketuyi is the Managing Director of Wema Bank Plc. In this interview with CHRIS UGWU, he speaks on how the lender’s Growth Project and the Treasury Single Account (TSA) policy affecting the industry and argues that Nigeria has capacity to accommodate more banks, given the country’s large population and its unbanked profile, among other sundry issues. Excerpts: After spending six years as a regional bank, Wema Bank has stepped up to compete at the national level. What has been the secret of the turnaround project? In 1945, as the Second World War grounded to a bitter halt and much of the world struggled with momentous human and economic losses, Nigeria’s first indigenous financial institution, Wema Bank, was formed. The bank became a symbol of ‘Nigerian Renaissance’ in a period of global distraught, which would culminate in economic and political independence of the nation 15 years later. Seventy-one years later, Wema Bank is repeating that feat. The financial institution is rising again at a time when everything – the Nigerian economy and the global businesses environment – seems to be going the other way. It began last year when, after spending seven years as a regional bank, the bank stepped up to compete at the national level and it has continued this year as the bank steadily grows in balance sheet size and profitability despite the current economic challenges facing the country. As you may have known, Wema Bank is Nigeria’s oldest indigenous financial institution. It is also widely reputed as the most resilient Nigerian bank, a reputation that was put to test in the early and mid-2000s, as the bank suffered its worst-ever internal crisis. In 2009, Wema began its bounce back. It started with the reconstitution of its board, which saw a new management, led by me, take over as the Group Managing Director and continued in 2011 with the strategic repositioning of the bank to operate with a regional licence covering South-South Nigeria, South-West Nigeria, Lagos and Abuja. Last year, the bank consolidated its rebound when it was granted a national licence by the Central Bank of Nigeria. Six years ago, we took a decision to refocus the bank’s operations on its areas of strength and build a sustainable institution. Following the bank’s receipt of its national licence in 2015, we took advantage of the new licensing regime and applied for a regional authorisation with a pledge to expand in the near future, once the turnaround project was completed. The bank’s transformation was implemented in three phases-first to stabilise the bank, second, to prepare the building blocks for growth and third, to go for growth. We are now within the third phase of the transformation project. Thus far, Project Growth seems to be going great. In its 2016 half-year financials, Wema Bank reported an 11 per cent rise in profit and a 15 per cent rise in turnover. It is the best performance by any Nigerian bank this year (among those that have declared their half-year results). The bank delivered an impressive Interest income of N20.2 billion, a 15.2 per cent increase from N17.5 billion in H1 2015, while its fee and commission income rose by 42.3 per cent, from N2.2 billion in H1 2015 to N3.1 billion in H1 2016. The bank also enjoyed a 13.7 per cent growth in total assets, from N344.64 billion in H1 2015 to N391.76 7690 in H1 2016. Operating expenses only grew by

‘Nigeria can absorb more banks’

Oloketuyi

Wema Bank lost almost N50 billion to TSA, but if you look at our annual report in 2015, we grew deposit despite of the loss

2.7 per cent, much lower than year-to-date inflation rate of 13.26 per cent; a testament to the bank’s disciplined and innovative approach towards keeping cost of doing business low. The 2016 financial year has been characterised by deceleration on a number of economic indicators coupled with increasing energy costs, intensified by rising inflation, all within a tough operating environment. In spite of these challenges, Wema Bank has been able to deliver a modest improvement in the first half of the year. We commence the second half of the year with a sense of cautious optimism; well aware that the economic fundamentals point to an economy heading for further slowdown, yet hopeful that additional fiscal initiatives will be implemented to stimulate growth. How has the introduction of Treasury Single Account (TSA) impacted the banking industry? I think over N2 trillion left the banking system for Central Bank of Nigeria (CBN). Without doubt, TSA has impacted the volume of deposit in the banking system. As you know, deposits are our raw material. Certainly, if the sector lost N2.1 or N2.2 trillion, it will definitely impact on the sector; you will see the impact the liquidity of every institution. It is going to impact us differently. Wema Bank lost almost N50 billion to TSA, but if you look at our annual report in 2015, we grew deposit despite of the loss. We recorded between 10 and 15 per cent growth in our deposit compared to 2014. TSA started in September 2015, but we were still able to grow; so, what that

means is that we would have grown higher. Our deposit still grows, if I have the N50 billion or thereabout in the system it would have helped my growth better than it was, but the impacts were not such that we were not able to meet our deposit obligation, neither were we short on the liquidity ratio required of the bank. Certainly, we lost some money to TSA that would have otherwise helped the performance of the bank better than we recorded in 2015. In your growth plan, did you bid for Keystone Bank? Yes, we had the plan, we were one of the sets of the bidders that wanted Key Stone Bank, but we reappraised our strategy along the line. Growth comes in two major stages, organic and inorganic; organic for what we are doing today and inorganicic, which is merger and acquisition (M&A) opportunities, so we looked at the M&A opportunities, does it have a fit for what we want to do? We went some distance in the process and we decided we should get out of it because there was a whole lot of overlap, so to speak, between what we are and what the target is, especially what we looked at was what is the value adds. You know if you add one plus one, in arithmetic, the answer is two, M&A is null; in M&A, one plus one giving you two has added no value to you, in fact, if for anything, you are taking up more trouble. So if you take up a target one plus one should give you multiple of twos, it can be three, it can be four but if one plus one is just two, it is not value creative, that transaction is CONTINUED on PAGE 35

BUSINESS | Interview

MONDAY, september 26, 2016 NEW TELEGRAPH CONTINUED FROM PAGE 34

not value creative, an M&A transaction that you sum up and you did not get the expected result is not a good M&A. That does not mean the target was not good, what I am saying is that the target and my own growth aspiration did not have a desired alignment, though they cannot be 100 per cent in alignment but do they largely align to a level that I will say yes I will drive the value that I am looking for in a target, that was the consideration and at some point in time we decided to opt out of the bid. What is your take about new bank springing up in the country? I strongly believe, like they say, that the sky is big enough for all birds to fly without bumping into each other. Taiwan has a population of about 23 million people not more than 30 million. The country has over eighty banks, Nigeria has a population estimated at 180 million, with the coming of the new bank, there are 22 deposit banks. Are we under-banked? Relative to the size of the economy and the potential that we have, honestly this system can do with more banks. Now, is it in number of linceces that we have or in the number of branches that we have? I will say both. There are some places we don’t have any trace of financial institutions, especially in the rural setting. So, I think the economy can accommodate more, you know what it does is that it also doesn’t create monopoly. We have seen what has happened to public institutions, public utility companies where there is monopoly, you don’t get the service. Now, you may not create monopoly but you may create oligopolistic economic environment. It is almost similar to monopoly, because they can team together and fix prices and fix a whole lot of things if there are just a few of them participating in the industry. So, this industry can live with a dose of more competition. So, you need to define your own target market. If all of us are playing the same area, then we bump into each other, there are some areas that are not yet developed enough. So, you need your own niche as a bank. If you define your own niche, you will play quite well and be successful. Some banks will come and say, ‘I am here for agric’. Another will say ‘solid minerals’, other will think of not having branches all over the places and opt for pure digital banking, no offices, it is happening today in some parts of the world, they do not have offices. The branches are on your palms and that’s the way they want to play and that is a niche. There are still several things we need to do, infrastructure is in short supply in this country, who is going to fix them, they are not foreigners, they are Nigerian system using the financial system to fix them. It is a competitive environment and for those us who are already here, we are bracing up for the competition.

CV Profile of Wema Bank Plc Company: Wema Bank Plc Designation: CEO Founded: 1945 Birth Place: Nil Membership: A Fellow of the Institute of Chartered Accounts of Nigeria (ICAN), Memberships of the Institute of Directors (IOD) and the Ikoyi Club 1938. Asset: Nil Career: Auditor with the then Akintola Williams and Co. (Chartered Accountants) in 1985. Until his appointment as the CEO of Wema Bank, he was an Executive Director, Skye Bank Plc with the responsibility for business development across Lagos and South-West directorates of the bank. Total pay: Nil Education: BSC in Chemistry from University of Lagos, MBA, Lagos Business School and Advanced Management Programme of INSEAD, Fontainebleau, France. Awards: A 2007 recipient of the distinguished Alumni Merit Award of the University of Lagos.

For those us who are already here, we are bracing up for the competition.

experience as a primary market dealer? We are dealers to those who are not. We have the direct interface with CBN, and the apex bank is still the major supplier of foreign exchange into the system. So, it is just like a clearing house. There are only four banks doing clearing system in this country today. The four banks represent the rest of us who go to clearing house to clear. What we are saying is that we don’t need as many as 22 banks all coming to the clearing house to do clearing. So, if you look at it, four to 22, average of five banks per clearing house, so it limits the number and brings a whole lot of efficiency into the system. I think what the primary dealership has done is to show that rather than having everybody doing it, there should be primary dealers; you take the funds from CBN, the biggest supplier of foreign exchange, to the market today and other people can come to you. In any event, it is an open platform, one is dealing on the FMDQ platform today, whether you are primary dealer or secondary dealer, honestly, it doesn’t mean anything as long as everybody has access to foreign exchange. So, it has been some nice examples, we are happy to be a primary dealer also to sell to some others who are not. What does it do? It puts a whole lot of responsibility in you, it is also a training ground for our dealers and today, we have one of the best dealing rooms in terms of equipment, in terms of layout and our dealers are properly and well-equipped to do the business. We are up to the task and I think we have delivered to the best of our ability to the industry as a primary dealer. How are you dealing with recession as a bank? In a situation like this, you need to watch your cost like a hawk. The initiatives we are bringing into the digital space are of necessity in order to bring the cost of operations down. In a regime where margins are tinning, the level of revenue coming down, you need to find a way to trim your cost. We challenged our staff, to do more with less. We didn’t retrench staff but we use them to take more responsibilities. We are using technology to drive what we are doing. With technology, physical involvement of individuals is being reduced. We want to maintain our growth strategy even in the face of recession. When you say there is recession, what that means is opening up opportunities. If we focus strictly on managing problems, that means we did not see opportunities. Much as we say ‘let’s manage cost’ we are also looking at what is the opportunity. Today, we have launched *945 as a product, which we believe will respond to some challenges. The cost of customer acquisition, if measured well, will be substantial. What we need is to invest in technology to acquire customers a lot cheaper than before.

What has been your

Oloketuyi

BUSINESS | MONEYLINE

Launch Forex scarcity worsens on parallel market

Tony Chukwunyem

here are indications that global forex dealer, Travelex, may commence the sale of dollars to licensed Bureaux De Change (BDCs) in the country today amid worsening scarcity of the greenback in the system. An industry source told New Telegraph that it was in preparation for the commencement of the forex sale to BDCs by Travelex, that commercial banks, which had been mandated by the CBN to perform that role started pulling out from the arrangement in the

MONDAY, september 26, 2016 NEW TELEGRAPH

Travelex may commence dollar sales to BDCs today

last few days. The President of the Association of Bureau De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, told this newspaper last week that with Travelex taking over the sale of dollars to BDCs from banks, the supply of dollars in the system will significantly improve. Gwadabe said that the licensed forex dealer would enhance transparency in the distribution network, adding that most ABCON members would be able to access forex unlike the situation when the banks were the sole supplier of forex to BDCs.

MPC member: FG should communicate its policies better

Tony Chukwunyem

ith reactions still trailing the decision by the Central Bank of Nigeria’s Monetary Policy Committee (MPC), to defy the Minister of Finance’s call to cut interest rates, a member of the Committee, Dr. Doyin Salami, has urged the Federal Government to communicate its policies better to avoid creating the impression that fiscal and monetary authorities were not working in tandem. The MPC had at the end of

its meeting last Tuesday retained the benchmark lending rate, otherwise known as the Monetary Policy Rate (MPR) at 14 per cent, ignoring the call made a day earlier by the Minister of Finance, Mrs Kemi Adeosun, that the rate should be reduced to enable government borrow at a cheaper rate domestically in order to pull the economy out of recession. Giving an insight into why the MPC may have voted the way it did in an interview with Channels Television, Dr Salami emphasised that the

He noted that Travelex had the technology to sell forex to about a 1,000 BDCs within a couple of hours, which is a major advantage. This newspaper had exclusively reported a fortnight ago that the CBN was planning to replace commercial banks with Travelex as the sole supplier of forex to BDCs following widespread complaints by BDC operators that the lenders were flouting a directive issued by the Apex Bank that they (banks) should sell them dollars remitted via International Money Transfer Organisations(IMTOs). According to the BDCs, the

banks’ recalcitrance is responsible for current acute scarcity of forex in the system, a development that has resulted in the weakening of the naira on the parallel market. In recent days, the local currency has fallen sharply against the dollar, slumping to N442/$ on the parallel market at the weekend. However, it closed at N305/$ and N307/$ on the CBN and FMDQ platforms respectively. It will be recalled that the CBN had in circular dated July 22, 2016 directed agent banks to approved IMTOs to sell foreign currency accruing from inward money remittances to

economy was in a very bad shape, adding that the 10 MPC members voted to retain rates because they believed that was the best decision for the economy at this point. He said: “The numbers were very clear; the economy had contracted and inflation was rising. To get out of this situation, we need foreign inflows as well as an improvement in access to foreign exchange.” Besides, he stated that having hiked rates at their last meeting in July, MPC members felt that there was the need to allow for a lead time for the effect of that decision to be assessed before considering changing it.

Sterling Bank Backs Made-in-Nigeria Festival

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

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

N19,142,526.05m N18,579,219.49m 17.61

Mar, 2015 Mar, 2015 August, 2016

14 10.77 US$46.82 US$24,743,864,186

26/07/2016 Mar 2015 23/9/2016 22/9/2016 Source: CBN

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

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 ↔

he campaign for the patronage of made in Nigeria goods and services championed by Sterling Bank Plc received a major boost over the weekend, as the financial institution announced its sponsorship of the 2016 MadeIn-Nigeria festival. The event according to a statement, is scheduled to hold between September 26 and October 1st, 2016 at the Eko Atlantic City The Vice President, Prof. Yemi Osibajo; the Governor of the Central Bank of Nigeria , Godwin Emefiele; Director General, Budget Office of the Federation , Mr. Ben Akabueze; Senior Special Adviser to the Vice President on Trade Dr. Jumoke Oduwole and Minister of Industry, Trade and Investment Dr. Okey Enelamah will lead discussions at the event. The sponsorship of the event, according to the statement signed by the lender’s Group Head, Strategy & Communications, Mr. Shina Atilola , is In line with the its

licenced BDCs. It said the move was part of efforts to ensure stability of the exchange rate of the naira. The regulator said that all international money transfer operators would be required to remit foreign currency to agent banks for disbursement in naira to beneficiaries. However, following complaints by the BDCs that banks were not selling dollars to them, the CBN, at the end of the last Bankers’ Committee meeting , approved an increase in the maximum amount that could be sold to the BDC operators from $30,000 to $50,000 per week.

commitment to promote and support government’s drive to diversify the economy occasioned by the declining revenue generated from crude oil exports and the relatively weaker exchange rate against the US dollar in the parallel market. The maiden edition of the Festival, according to the Bank, would focus on enhancing innovation, creativity and promoting the buy Nigeria culture to stimulate key growth sectors, create jobs as well as facilitate trade and investment in sectors such as Power & Infrastructure, Agriculture, Technology, Manufacturing, Sports & Entertainment The Bank stated that the week long programme will comprise of a 3-day summit, 7-day Exhibition of Made in Nigeria products, a showcase of Made-In-Nigeria, art & entertainment and an Independence day Concert tagged “the Supremacy” featuring the best of Nigerian artists like Tuface, Asa, Dbanj, King Sunny Ade & Wizkid.

CSR: NIBSS launches Art Competition

s part of its Corporate Social Responsibility (CSR) initiatives, the Nigeria Interbank Settlement System Plc (NIBSS) has launched an Arts Competition, which is open to students of higher institutions in the country. The Managing Director, NIBSS, Mr. Ade Shonubi, who disclosed this at a press briefing in Lagos at the weekend, said that the competition which has as theme, “Interconnectivity, Networking and Leadership”, was aimed at reducing youth unemployment, bringing financial services to the unbanked as well as encouraging financial inclusion. He disclosed that NIBSS was currently carrying out a retrofit of its Head Office in Lagos, adding that it wanted to compliment the building’s new look with a collection of diverse local artworks.

According to him, the competition will provide young student artists the opportunity of having their works adorn the walls of the NIBSS building. The NIBSS boss further stated that the agency will commission the artists’ briefs that best reflect the themes of the competition and also give them adequate grants that will enable produce the works. He explained that the artistic works could come in different forms of wall art graphics such as paintings, sculpting, banner/posters, photography, wall relief, digital graphics and wall murals. He urged students of higher institutions in the country to go online and submit their entries for the competition between September 21st and September 30, stressing that the judges for the competition will select works from online submission only.

national | news

monday, september 26, 2016 NEW TELEGRAPH

We need to rescue Nigeria together, says Wike

ivers State Governor, Nyesom Wike, has stated that the painful general hardship flowing from the country’s economic crisis has affected all Nigerians. He said that all hands must be on deck to resolve the challenges. He also said that his administration has already established a working framework to shield the people of Rivers State from the negative effects of the economic downturn. He spoke yesterday at the Saint Cyprian Anglican Church, Port Harcourt, during the Interdenominational Church Service to mark Nigeria's

56th Independence Anniversary. He said: "The hardship that flows from the economic downturn affects all Nigerians, irrespective of the political party they belong to or whether they don't belong to political parties. "That is why we must work together to ensure that we end the economic recession. It is in our interest as a nation that we continue to build alliances, as this economic recession cannot be resolved through methods that exclude other stakeholders ". The governor stressed that Rivers State would continue to be viable with

the state government executing pro-people projects, whether or not Nigeria was in recession. He urged Nigerians to celebrate the fact that the country was still united despite the different challenges that it had faced over the years. Wike called for more prayers for the country to make sustained progress in the coming years. In his sermon, Bishop of Anglican Niger Diocese, Rt. Reverend Raphael Ebirien, urged the Federal Government to focus on resolving the current economic recession as Nigerians are suffering.

NSC seeks removal of physical trade barrier in African sub-region

he Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ (NSC), has called for the removal of physical trade barrier in African sub-region. Bello made the call during the inauguration of the interim working committee of West Africa Road Transport Union (WARTU), held in Lagos. According to him, regional transportation requires integration, harmonisation and standardisation ``This is the reason the meeting is being structured because the volume of trade within the African sub-region is not very much. The volume of trade within the Central African region is representing one per cent comparing with that of Europe which stands at 70 per cent. We need to look at ways of improving trade within the sub-region and there are so many things to trade on among us, ``he maintained. He said the Nigeria’s trade was supported by

Economic Community of West African States (ECOWAS), laws and protocols which had been guiding the effective operation of trade in the region. According to him, the Council had been playing a critical role in ensuring that the institutions and bodies were supported in one way or the other. He commended the National Road Trans-

port Owners (NARTO), for their involvement in the series of laudable activities believing that the Union was having the capacity and capability to put things in place. Bello expressed the Council’s readiness to give the newly inaugurated committee the necessary support and encouragements to enable them meet their aspirations.

Yekeen Nurudeen Abuja

s a way of addressing incessant building collapse in Abuja, the nation's capital, the Federal Capital Territory Administration is working at establishing a material testing laboratory in the city to ensure that all ongoing construction works in the Territory meet the requisite integrity. FCT Minister, Malam Muhammad Musa Bello, disclosed this at the weekend while receiving Managing Director of the Ahmadu Bello University Consultancy Services, Professor Suleiman Karwai, who paid him a visit in his office.

NECO candidates kick as varsities close admission portals

Mojeed Alabi

housands of candidates, who sat for this year’s National Examination Council’s Senior School Certificate Examination and whose results were just released by the examination body have accused many universities, polytechnics and colleges of education who have closed their admission portals without allowing them to input their results, of running NECO down and promoting WAEC. The candidates, who assembled at a location in Akoka at the weekend, said since the institutions allowed them to apply for admission with ‘awaiting result’ status, it was incumbent on the institutions to allow them use their results for admission. They accused institutions like the University of

N153

The average price of Premium Motor Spirit (Petrol) of Kebbi State in July 2016. Source: National Bureau of Statistics

L-R: Rev. Torty Okwara Onoh; Mrs. Nnena Akuma; Chief Solo Akuma and Senator Ita Enang, during the harvest.

FCTA to get material testing lab The Minister said that the establishment of the Laboratory became necessary to enable the administration regularly and independently monitor all on-going projects across the territory to avoid any mishap during and after constructions of public and private projects. He restated that the laboratory would give the government a second means of independent check on material used for houses under construction either privately or publicly owned as well as other infrastructural development like bridges and culverts by ensuring quality control. According to him, building collapses can be avoided with strong insti-

tutional supervision of projects either publicly or privately owned. Bello remarked that the fact that Abuja has never in history experienced collapse of any public building or public infrastructure showed that the FCT Administration that had since been handling such projects had maintained strict supervision with the highest quality standard. He said although the Federal Housing Authority (FHA) solely supervised the recent collapsed building in Gwarinpa II District of Abuja, the FCT Administration would use that unfortunate incident to correct so many things in the industry in the Territory.

Lagos (UNILAG), Akoka, of hurriedly concluding its admission processes before the release of NECO results, so that candidates with NECO results could be denied admission ‘even when they have met the requisite conditions.” Speaking on behalf of the candidates, the National President of the Association of Tutorial Schools’ Operators, Mr. Oludotun Sodunke, said the universi-

Recession, divine instrument to reawaken Nigeria –Gen Boroh Onwuka Nzeshi ABUJA

he economic recession plaguing Nigeria has been attributed to the lack of gratitude to God and the nonchalant attitude of Nigerians towards the huge human and natural resources divinely bestowed on the country. Special Adviser to the President on Niger Delta Affairs and Presidential Amnesty Programne, Brig Gen. Paul Boroh (rtd) stated this yesterday at the 2016 Harvest Thanksgiving of the Presbyterian Church of Nigeria, First Parish, Abuja. Boroh, who was one of the guests of honour at the occasion, lamented that Nigeria has drifted into recession in spite of all the abundant resources and charged Nigerians to draw nearer to God and show gratitude for what we have by managing our resources more judiciously. "He (God) gave us everything; there is no mineral in this world that we don’t have in Nigeria. He gave us crude oil, yet we are mismanaging it and that is why he is not happy with

Nkire appeals to APC Senators on NDDC Board

eader of the All Progressives Congress (APC) Caucus in Abia State, Chief Sam Nkire, has appealed to his party members in the Senate to ensure that all President Muhammadu Buhari's nominees to the Niger Delta Development Commission (NDDC) board were confirmed, should they appear for screening. Nkire, in a statement in Abuja, said it would be an unfortunate development if the party in power with majority in parliament should allow the Peoples Democratic Party (PDP) to determine who an APC President should appoint to office.

ties had no excuse to rush the admission processes as the deadline given them by the Joint Admissions and Matriculation Board was November 30. “Both WAEC and NECO conducted same examinations but at different times. Just a few weeks apart, both institutions released their results. So, there was no basis not to accept one when the other is accepted.

The APC chieftain advised APC Senators not to allow Senators of the opposition PDP to mislead them into accepting that the current recession the country was facing was caused by President Buhari's bad economic policies. Nkire said the whole world knew that PDP's reckless spending, coupled with corruption during its 16-year rule brought Nigeria to its knees it is today, adding that President Muhammadu Buhari was just an undertaker who, more than anything else, needed support and time to get the country out of the

us. Even in my fish pond in Bayelsa State, there is crude oil there. Yet, there is poverty all around us. This means that there are certain things that we are not doing well and that is why God is not happy. We need to be more closer to him and get the best that God has given us.” The harvest ceremony attracted a lot of dignitaries including the Chairman designate of the Niger Development Commission ( NDDC), Senator Ndoma Egba, as well as the Special Adviser to the President on National Assembly Matters, Senator Ita Enang. It featured a special fund raising session which the church leaders said was targeted at building the John Knox College, an educational institution named after the founder of the Presbyterian Church. Ndoma-Egba, who was one of the donors described the project as an investment for the future generation. "Education is the real investment any country can make. Our youths are our real resources but they remain a resource if they are educated and if they have skills. If they are not educated and they do not have any skills , they become a curse and so we must invest in them and for me anything education is a must," he said. Deputy Chairman of the Planning Committee of the Harvest, Chief Solo Akuma ( SAN) underlined the essence of appreciating God for his goodness to mankind. He said that showing appreciation to God for divine provisions should be an all seasons affair and not reserved for one day only. According to Akuma, the Presbyterian Church of Nigeria, First Parish, Abuja has been raising funds for the John Akins College in the last three years to ensure that it delivered a befitting educational institution capable of raising young Nigerians in sound character and learning.

NEWS | south-west

monday, september 26, 2016 NEW TELEGRAPH

Abraham predicts APC’s defeat in Ondo guber poll

Babatope Okeowo Akure

econd runner-up in the governorship primary of the All Progressives Congress (APC) in Ondo State, Dr Segun Abraham yesterday predicted defeat for the party if eventually it upholds the election of

Mr Oluwarotimi Akeredolu (SAN) as the flag bearer. Akeredolu was elected as the candidate of the party in the primary held on September 3. But his election had pitted him against other aspirants including Abraham, Chief Olusola Oke and Prof Robert Ajayi Boroffice who rejected Akeredolu’s emergence.

Ondo begins rehabilitation of Owo/Ikare road Babatope Okeowo Akure

orried by the parlous state of the Federal roads especially the Owo-Ikare road in Ondo State, the state government has begun rehabilitation of the ever busy road so as to prevent it from total collapse. The Chairman of the State Agency for Road Maintenance and Construction, OSARMCO, Engr Kehinde Osikoya who flagged off the rehabilitation in Owo at the weekend, said the spe-

cial intervention became necessary to alleviate the challenges faced by road users on the route. There have been outcries from the people over the condition of the road linking the State to Abuja and other four states of the country. The state of the road has made many people to change their route from Ondo to Ekiti State territory. This, he said propelled the state to commence the rehabilitation of the road in order to alleviate the plight of the road users and residents of the state.

Abraham flanked by other leaders of the party including Chief Erastus Akeju, Messrs Sola Iji and Rotimi Agbede said the opposition People’s Democratic Party(PDP) would raise the issue of corruption against the party during electioneering campaigns as the candidate of APC emerged through corrupt means. Addressing a press conference at the NUJ Press Centre, Abraham said APC which prided itself as anti-corruption party would not be seen as condoning corruption in the process of picking its candidate for election as it was done during the last governorship primary of the party. He however expressed optimism that the leaders of the party would still substitute the name of Akeredolu as the candidate of the party before the October 19 deadline, saying the name of the winner was only submitted as surrogate candidate pending the determination of the petitions by the aggrieved aspirants of the party. Abraham who frowned at the submission of Ak-

eredolu’s name as candidate contrary to the recommendation of the Appeal Committee that ordered a fresh primary, said “victory and success can never be so long as injustice and manipulation controls the internal structure of the party. He went on: “The party would only produce leaders that will control and manipulate people and nurture corruption, of which such has been the fate of Nigerians in the hands of PDP in the last 16 years when Nigeria became known as one of the most corrupt countries in the world. “There can be no authentic and stable democratic government without justice. There is now a growing awareness that the APC government has the capacity to indulge in corrupt and unjust systems and practices. Resolving the quagmire in Ondo State is a golden opportunity to the APC to showcase to the world and give Nigerians real confidence that we are just and honest party.” Abraham said 157 fake delegates were injected into the delegates’ list

L-R: Chief Press Secretary to Governor of Lagos State, Mr. Habib Aruna; Publisher/Chief Executive Officer, African Leadership Magazine, Mr. Ken Giami; Special Adviser, Office of Overseas Affairs & Investments, Prof. Ademola Abass; member, Georgia House of Representatives, Dee Dawkins-Haigler; Commissioner for Wealth Creation & Employment, Mr. Babatunde Durosinmi-Etti and Commissioner for Information & Strategy, Mr. Steve Ayorinde, during the 2016 International Forum on African Leadership organised by African Leadership Magazine in New York, U.S.A…at the weekend.

Recession: Why FG must not rush into sale of assets –Abiara of his wife, Aduke. Sola Adeyemo Ibadan

he General Evangelist of the Christ Apostolic Church, Prophet Samuel Abiara, yesterday advised the Federal Government to shun calls by a section of the country to sell any viable government assets. Instead, he appealed to wealthy Nigerians to bail out the country with the needed $15billion loan to turn around the nation's economy. Abiara gave the advice in his church at Agbala Itura, Olode, Ibadan during his first sermon and appearance in the church since the demise

Also, he cautioned the Federal Government against borrowing from any foreign source, saying, "there are many people in Nigeria who can provide such funds if approached.” Abiara said: "Many Nigerians are of the belief that the change they voted for is not the kind of change in government that they are currently experiencing. President Buhari is not a magician. The expected change will be through all Nigerians.

3.3m

The total population of Melanesia in 1970. Source: Un.org

Omoworare seeks truce on LAUTECH crisis B abajide Omoworare, a Senator Representing Osun East, has warned those fanning the ember of discord between the Osun and the Oyo States on the proposed sole ownership of Ladoke Akintola University of Technology, Ogbomoso to desist from such action. Senator Omoworare however cautioned the Oyo State Assembly members to desist from fanning the ember of discord between the two states. “The le gislature should not be manipulated to act antithetical to its true political stature, lawmakers should act as

statesmen in situations like this,” Omoworare said. He described the call for drastic actions against indigenes of Osun State extract by some overzealous Oyo State indigenes as backward and uncalled for, asking the masterminds to desist from any proposals capable of aggravating the situation should they lack creativity for a lasting solution to the impasse. Omoworare made this disclosure while responding to Save Our Soul message from members of Staff of LAUTECH who were of Ife and Ijesa extraction.

in 12 of the 18 local government areas, saying 54 delegates from three council areas including Akoko Northwest, Akoko Northeast and Idanre who were to have voted for him were disenfranchised and substituted with fake delegates. He expressed optimism that the leaders of the party would still revisit the fraud noticed in the

primary and would give him the mandate to fly the flag of the party in November 26 governorship election in the state as allowing injustice to stand would further dim the chances of the party as people would not see the difference between the APC and the immediate past government which they ousted because of corrupt practices.

Tutorial operators tackle Lagos over N150,000 levy Mojeed Alabi

perators of tutorial schools in Lagos State may head for court following an alleged imposition of a mandatory annual registration fee of N150, 000 by the government. They have threatened a court action against the State and its agency for Mass Education to compel them rescind their decision on the planned imposition of the alleged N150,000 annual registration fee. At a media briefing addressed by the Association of Tutorial Schools’ Operators at the weekend, the body accused the agency of imposing the alleged fees without any justification, saying the agency had since been sealing up centres and arresting members. Speaking on behalf of the group, its National President, Oludotun Sodunke, said its members were not against any payment but that there must be basis for the payment, saying the Office of the Special Adviser to the Governor on Education had refused to meet with the association to sort out modalities for the payment. They said: “It must be noted that running a tutorial centre is not out of fashion, many resulted to

it because there is no job. Now this government is about to run us out of business again due to multiple taxes. “It must be understood that the state’s Eko Project which mandates students to stay in school till 5pm has denied the centres the opportunity to run evening classes which used to be our cash cow. Now it is multiple taxes; local governments will come, LASAA will come and other legal and illegal agencies demanding one levy or the other.” The group demanded to meet with the Special Adviser on Education, saying failure which would lead to approaching a competent court of law to resolve the matter. But in his response, the Special Adviser to the Governor on Education, Mr. Obafela Bank-Olemoh has refuted the allegation, saying the agency was backed by law to regulate the activities of all continuing education centres operating in the state. Bank-Olemoh in a statement issued and signed by Mrs. Kehinde Fashola, noted that the exercise was in fulfillment of the power reposed in the agency to control activities of all Continuing Education/ Tutorial Centres in the State according to the Lagos State Agency for Mass Education Edict 1990, Section 4 (2, 3).

Contempt: Ogun monarch refutes suspension order Kunle Olayeni Abeokuta

he Oniro of Iro in Obafemi-Owode Local Government Area of Ogun State, Oba Najeem Aromaye, yesterday said he remains the traditional ruler of his community. The monarch, in a statement signed by his media assistant, Farouk Adesina, dismissed reports suggesting that he had been suspended from office over pending litigation challenging his

emergence. He said the injunction reportedly restraining him was before the Court of Appeal and appealed to members of the public to remain calm as the matter was being pursued before the court. Justice Mobolaji Ojo of the state High Court sitting in Abeokuta had on September 19, reportedly convicted Aromaye for contempt and awarded N5, 000 costs against him in a suit filed by the Oleyo Ruling House to challenge his nomination for the stool.

south-east | news

monday, september 26, 2016 NEW TELEGRAPH

NERC holds public consultation on mini-grid in Enugu Charles Onyekwere ENUGU

he Nigerian Electricity Regulatory Commission (NERC) will on Wednesday at the Nike Lake Resort, Enugu, hold a public consultation on mini-grid for electricity consumers within Enugu, Port Harcourt and Benin DISCOs’ zones. To this end, electricity stakeholders, State Rural Electrification Boards, potential mini-grid host communities and operators within the franchise area of Enugu Electricity Distribution Company (EEDC), Port Harcourt Electricity Distribution Company (PHED) and Benin Electricity Distribution Company (BEDC) are expected to attend the one-day event. According to a release from the Head Communications, Enugu Electricity Distribution Company (EEDC), Mr. Chukwuemeka Ezeh, EEDC as the host DISCO, will ensure that the event was a huge success.

Buhari is jittery over Biafra's independence, says MASSOB Charles Onyekwere ENUGU

ro-Biafra group, Movement for the Actualisation of the Sovereign State of Biafra (MASSOB) at the weekend said President Muhammadu Buhari's statement on his return from the United Nations (UN) meeting was a clear indication that he was afraid to organise a referendum that would set Biafra free from Nigeria. A statement signed by MASSOB leader, Uchenna Madu, said ‘Buhari is jittery and confused that should there be a referendum, Biafra might exit from Nigeria.’ According to the statement, virtually all the countries of the world were in support of Biafra’s liberation and there was nothing he would do to stop the agitation and aspiration, pointing out that Buhari was dazed as to how to shore up the agitation. "President Buhari's latest comment on Bi-

afra further proved that he is jittery, confused and is unable to quench the fire of determination and consciousness of Biafra. "With the just-concluded United Nations General Assembly, which Buhari attended, it has dawned on him that Biafra’s actualisation and restoration to an independent nation can no longer be ignored. The world leaders have shown their sympathies for the oppressive and subjective economic policies of Buhari against the industrious and creative people of Biafra. "The Oriental, Asian and Western world are seriously in support of Biafra because 60 per cent of their economic growth are being propelled by the industrious people of Biafra. It has dawned on President Buhari that the universal clamour for Biafran referendum to determine the choice of the people of Biafra has reached a greater height of momentum which he can't deny.” "For Buhari to centre

his first official statement on Biafra after returning to Nigeria is a complete emotional sign of jittery, frustration and fear that Biafrans are leaving Nigeria. "Out of jealousy and a replica of Pharaoh's pathological hatred for the Jewish people, I see Buhari increasing the economic, political, religious and social sufferings and persecution of the people of Biafra. "As a Nigerian Islamic fundamentalist, who hates the people of Biafra because of our Christian faith, President Buhari will unleash more vicious economic doom to diminish the enterprising nature and spirit of Ndi-Biafra. The Biafra referendum which Buhari cannot stop will commence in the first quarter of 2017. "The United Nations has already announced that Nigeria is deeply divided on ethnic and religious lines. Nigeria is an artificial creation of the British colonial masters through Lord Fredrick Lugard.

L-R: Enugu State Deputy Governor, Mrs. Cecilia Ezeilo; Governor Ifeanyi Ugwuanyi; Secretary to Enugu State Government, Dr. Gabriel Ajah and Commissioner for Health, Dr. Sam Ngwu, during the inspection of some capital projects in the state … yesterday.

s part of Lagos State government's support for Ndigbo in the state, Governor Akinwumi Ambode, will lead an entourage of government officials to this year's celebration of Igbo Day in the state. New Telegraph gathered that the Oba of Lagos, Oba Rilwan Akiolu, will be part of the governor's high-powered entourage expected at the event, signifying a rare show of solidarity with the Igbo in Lagos after the 2015 general elections that threatened the long-standing harmonious relationship between Lagos and the

Give us results not excuses, Abia professionals tell Ikpeazu Steve Uzoechi OWERRI

group, Abia League of Young Professionals (ALYP), yesterday told Governor Okezie Ikpeazu that members of the group and indeed the state were only interested in results and not excuses even as they said what the state needed now was development. They further said bad roads, insecurity and general infrastructural decay, were the major causes of hardship in the state. This assertion was made yesterday by Lucky Martins Igbokwe, in a telephone conversation. He admonished Governor Ikpeazu against playing the blame game, but that he should concentrate on his job and develop the state if he has the capacity to do so. Igbokwe, who is the chairman of ALYP, said due to the poor state of infrastructure and the alarming breakdown of security in the state, investors and intending investors were being compelled to take their investments elsewhere while already existing businesses in were running at a loss due to lack of patronage occasioned

by non-payment of workers’ salaries, owing of contractors and lack of access to their business locations due to bad road. He argued that what Abia needed presently was a governor who should be thinking beyond the conventional monthly federal allocation, but who should look inward on how to create wealth and harness potentials that will grow Abia economy. Regrettably, Igbokwe said: "Dr. Okezie Ikpeazu does not possess such economic capacity to revive the economy of Abia State, which is rapidly crumbling under his watch. The problem with Abia today is Ikpeazu's leadership deficiencies and no people can grow beyond the quality of their leader." He said never in the history of Abia State has a state governor owed workers for a period of nine months and counting, he further advised Ikpeazu to stop using his court cases as excuse for his failures. He lamented that Abia had no business being rated as one of the poorest states in the South East if not for Ikpeazu's shadow-chasing administration that had left the state worse than he met it.

$37.5m

The total pay (including salary/winnings & endorsements) of Rafael Nadal (Tennis) for 2016. Source: Forbes.com

Sympathisers rescue baby from suspected mentally-challenged mother

Ambode backs Igbo Day celebration in Lagos Chris Ugwu

Igbo residents in the state. Organisers of the event said Ambode along with the President of Ndigbo Lagos, Prof. Anya O. Anya, will be joint chief hosts of the ceremony slated for Thursday, September 29, at the main bowl of the National Stadium, Surulere, Lagos. A release signed by the President, Ohanaeze Ndigbo, Lagos State chapter, Dr. Dom Ferguson Okoli, said a former Chief of Army Staff, Lt.-Gen. Azubuike Ihejirika and a erstwhile Deputy Head of State, Commodore Ebitu Ukiwe (rtd), would be the chairman and special guest of honour respectively.

NSCDC officials arrest three cable vandals Pamela Eboh Awka

t least three suspects were yesterday arrested by men of the Nigeria Security and Civil Defence Corps (NSCDC) in Anambra State while stealing electricity cables at Agu-Awka area of the state. The three suspects, who were in their early 20s include Nnamdi Nweke, a welder apprentice, Chibuzor Muoto, an orange hawker and Ikechukwu Okafor, a groundnut hawker, were said to be indigenes of Awka, the state capital. Addressing news-

men after parading the suspects at the corps’ headquarters in Awka, the state Commandant, Mr. Godwin Omoregie, said the three suspects were caught in the act by some officials of the corps while they were on patrol duty. He said: "While the officers were on patrol at the Agu-Awka area of the state, they heard some suspicious noise and decided to find out what was amiss. "On getting there, they saw the suspects cutting cables with saws." According to Omorogie, the suspects dropped their tools and took to their heels on sighting the security officers.

ympathisers in Ebonyi State yesterday rescued a baby of about nine months old from a suspected mentallychallenged woman as she beat him repeatedly for requesting for food. The News Agency of Nigeria (NAN) reports that the incident occurred on a roadside in Ugwuachara, an outskirt of Abakaliki, the state capital. The child’s uncontrollable cry attracted sympathisers. NAN reports that the suspected mentally-challenged woman had eaten all the food given to her by passersby without giving the baby boy anything. One of the sympathisers, Mr. Sunday Ebe, told NAN that other sympathisers and himself had to retrieve the child from the mother to prevent bodily injuries to him. “We later took the child to Rev. Fr. Abraham Nwali, Ebonyi State Governor’s

Senior Special Adviser on Religion and Welfare Matters, at the Catholic Bishop’s Court, Abakaliki. “The wailing of the child further attracted the sympathy of Rev. Sis. Cecilia Chukwu, Executive Director, Succour and Development Initiative, Abakaliki. “She directed her assistant to give the child a good bath, food, clothing and other immediate needs,” he said. Nwali while receiving the baby had inquired of the mental status of the woman to avoid insinuations of kidnapping or child trafficking. “The people who brought the child to this place should bring the woman to be examined medically while also offering medical treatment,” Nwali said. NAN reports that Nwali later followed the sympathisers to the scene and met the woman sleeping.

News|SOUTH-SOUTH

My life, family in danger, says ex-Rivers Assembly leader

former member of Rivers State House of Assembly, Dr. Chidi Lloyd, has called on security agencies to protect his life and that of his family members. The News Agency of Nigeria (NAN) reports that the Rivers Police Command has confirmed arsonists attack on the village home of the former House of Assembly Leader in Akpabu, Emohua Local Government Area. Lloyd told NAN in Port Harcourt on yesterday that his family was in danger because of his political belief and association. He said that the unprovoked attack on his residence had consumed his personal belongings such as library and other valuables. “I have tried to imagine what might have been the cause of this unwarranted attack but cannot readily think of any. “The only thing is, since the 2013 crises that engulfed the Rivers State House of Assembly in which I participated, I have been living in great fear,” he said. Lloyd also noted that

Earth tremor: Rivers, Bayelsa communities call for investigation

he was arrested, detained and charged to court for he communities attempted murder but the affected by the trial was discontinued by July and August the then Attorney-General earth tremors in of Rivers State, Mr. Worgu Rivers and Bayelsa states Boms. have appealed to the Fed“When the former At- eral Government to investorney-General in the ex- tigate the incidents. ercise of his constitutional They made the appeal powers took over the pros- in separate interviews ecution, he discontinued with the News Agency the trial because the police of Nigeria (NAN) in Yenauthorities then made it agoa on Sunday. impracticable for trial to NAN recalls that earth continue. tremor was reported to “This was because the have occurred around complainant approached oilfields operated by Shell the Port Harcourt Division Petroleum Development of the Federal High Court, Company (SPDC) in Bayseeking an order to stop elsa and Rivers states rethe police from releasing spectively between July the case file,” he alleged. and August. According to him, the The traditional ruler current Rivers AttorneyGeneral, Mr. Chinwenwo L-R: Rivers State Aguma, in May 2016, filed Deputy Governor, criminal information in Dr Ipalibo Harry the Rivers High Court, be- Banigo; Governor fore Justice Adama IyayiNyesom Ezenwo Lamikaran, seeking to re- Wike; Archbishop, view the “nolle prosequi’’ Province of Niger entered by his predecessor. Delta, Most “The trial is currently Reverend Ignatius going on with an interlocu- Kattey and Bishop tory order to the police to of Anglican Niger produce me to take plea Delta Diocese, even when no process was Rt Revd. Raphael served on me.” Ebirien, during

CONFIRMATION/change OF NAME Adeniyi: This is to confirm that Sanusi Hammed Adeniyi is the same person as Sanusi Hammed. That henceforth I wish to be known and addressed as Sanusi Hammed Adeniyi. All former documents remain valid. General public take note.

Umeh

I formerly known and addressed as Umennajiego Nnamdi Johnbosco, now wish to be known and addressed as Umeh Nnamdi Johnbosco. All document bearing my former names remain valid. Zenith Bank and General public, please take note.

Odo

I formerly known and addressed as Odo Onyekachi, now wish to be known and addressed as Odo Timothy Onyekachi. All document bearing my former names remain valid. EcoBank, FirstBank and General public, please take note.

PUBLIC NOTICE

CHURCH OF THE ANCIENT GOSPEL

The general public is hereby informed that the above Church has applied to Corporate Affairs Commission for registration under Part 'C' of the Companies and Allied Matters Act 1990 laws of the federation. The Trustees are: 1. Ajiboye, Peter Ade – Senior Pastor 2. Ajiboye, Eunice - Trustee 3. Ajibade, Sunday - Trustee AIMS AND OBJECTIVES ARE: 1. To propagate the gospel of our Lord Jesus Christ. 2. To bring back the lost Glory of the Church. 3. To build a solid foundation for love and care. 4. To build a body of believers developed in praise and worship. 5. To influence our city and country and indeed the world for Jesus Christ positively. 6. To serve as a bridge between the Church and the social, economic and political community. 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: Shina Adedeji Esq. (Solicitor to the church) 0803 348 8446, 0802 854 2656

PUBLIC NOTICE

BRIDGE PACERS SPORTS CLUB

of Mbiama, Ahoada West Local Government Area of Rivers, King Abel Shadow, said the two vibrations beneath the ground caused panic among his subjects. He said that the two incidents which occurred in quick succession was worrisome, adding that the intervention of government was required to tackle the problem. According to him, the incident sent shockwaves down the spine of everyone in Mbiama, especially when it reocurred in August as the people gathered outside their houses in despair. “I was having a meet-

ing in my palace when the earth started vibrating. We initially thought the vibration was caused by a machine at a nearby construction site. “To our greatest surprise, we discovered that no machine was working anywhere around,” Shadow said. The traditional ruler said that he suspected the incidents might not be unconnected with seismic activities in the oilfields. Shadow, who expressed doubt on the safety procedures at the oilfields in the Niger Delta, called on government to audit the safety records of the companies to preserve human lives

monDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

and the environment. Ms. Iboh Umor, a resident of Mbiama, recalled that she was in a hair salon when the tremor occurred, adding that she initially thought the vibration was as result of seismic activities by oil firms in the area. She also said that the incident caused panic in the town as people rushed out of their houses in confusion. Mr. Victor Idiedo, a resident of the affected Igbogene community in Bayelsa, also called on government to investigate the incidents. He said that the occurrence of the earth tremor within the space of one month was disturbing, and urged the federal and state governments to make efforts to know why it has happened.

the Interdenominational church service to mark Nigeria’s 56th Independence Anniversary at the Saint Cyprian Anglican Church in Port Harcourt … yesterday

APC faults attack of members, condemns bombing Emmanuel Masha PORT HARCOURT

he Rivers State chapter of the All Progressives Congress (APC) has faulted violent attacks on its members, alleging that the attacks happened after the leaders of the Peoples Democratic Party (PDP) “boasted to teach the APC and their leaders a lesson”. The party also faulted the bombing of the Bonny Crude export line, saying that the attack would worsen the nation’s economic situation.

The state chairman of APC, Dr. Davies Ibiamu Ikanya, who made the allegation during a briefing at the party’s secretariat in Port Harcourt, said that the former leader of the state Assembly, Hon. Chidi Lloyd, who was attacked last week, got a call threatening to attack him. It would be recalled that the country home of Lloyd in Akpabu Community in Emuoha Local Government Area was attacked by gunmen on motorbikes, who burnt down some buildings in the compound, and fled. The APC chairman also

said that the landed property of the State Women Leader, Evangelist Caroline Nagbo, was invaded and vandalised by suspected political thugs last week, and that the hoodlums who perpetrated the act had been on the run. Ikanya said: “The APC recalls that since the 2013 crisis that engulfed the RVHA, Dr. Chidi Lloyd has been subjected to all forms of threats by the PDP and agents of Rivers State Government under Gov. Nyesom Wike.” He accused the state government of reopening

the case against Lloyd for attempted murder among other charges, despite the fact that the then Hon. Attorney-General, Worgu Boms had discontinued the trial. He said that on May, 2016, the Attorney-General of Rivers State, Chinwenwo Aguma, SAN, filed a criminal information in the High Court of Rivers State to review the case, and that the trial was ongoing with an interlocutory order to the police to produce Lloyd to take plea even when no process was served on him.

This is to inform the general public that the above named has applied for registration to Corporate Affairs Commission under Part "C" of the Companies and Allied Matters Act N0. 1 of 1990.

Varsity staff drag management before Industrial Court

The Trustees are: 1. Ashraff Ozovehe Mamman 2. 3. Olufunmilayo Olubunmi Adegbite 4. Adedayo Akinbode 5. 6. Rosemary Cynthia Kio 7. 8. Olawale Olabintan 9.

Cajetan Mmuta

Roseline Eloho Eyenike

BENIN

Chinedu Nnaemeka Igwebike Charity Obiora Okeke Oluwole Akintayo Adisa

AIM AND OBJECTIVE ARE: 1. To promote a healthy lifestyle among Nigerians through sports and fitness. 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. SIGNED: Secretary

ggrieved staff of the new Tayo Akpata University of Education, Ekiadolor in Edo State, has instituted legal action against the management of the institution before the National Industrial Court, Akure division, over non-placement into the academic affairs of the university.

It was learnt that development leading to the smooth take of the new university had been on a standstill following brick walls mounted by the new governing council of the university in its failure to bring on board existing staff before employing fresh ones as it earlier announced about a month ago. The governing council had in an advertorial in August this year

directed existing staff of the College of Education, now a university, to apply again for employment, a position the staff considered a slight to their calling. The management stated that staff without requisite recourse were to be placed as staff of the College of Education which the university inherited. According to the suit NICN/BEN/24/2016 filed through their counsel,

Mr. Olayiwola Afolabi, the staff are demanding amongst others a declaration that “the claimant were the staff of College of Education, Ekiadolor under the repealed College of Education Ekiadolor, Benin law, 1988 and are entitled to conversion and placement in the Edo State University of Education, Ekiadolor, by virtue of section 67 of Edo State University law 2014.”

News|NORTH

monDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Sokoto community gets first secondary school

okoto State Governor, Aminu Tambuwal, at the weekend, laid the foundation for the construction of a new secondary school in Balle, headquarters of Gudu Local Government Area of the state, closing the chapter of being the only council area without a secondary school in the country. Speaking at the event attended by development partners, religious and traditional rulers from within and outside the state, Tambuwal said his administration had embarked on the project as the area had remained the only one of the 23 local governments of the state without a senior secondary school. “The school will be a coeducational, we have decided to make it a unity school and it will attract students from all parts of Nigeria and neighbouring Niger Republic. Students of the school would be taught in both English and French,” Tambuwal said. According to him, the contractor had since been paid the required 30 per cent as mobilisation fee. He said the project would be completed in the next four months, while work at the site commenced about two months ago. The governor also promised to make funds available for the completion of the project on schedule according to specification. “Education is key to success both in this world

and in the hereafter. The school is aimed at improving enrolment, retention and completion of students across the state. It is also aimed at improving equal access to education for both boys and girls in the state. “As the adage goes, when you educate a girl, you educate the nation, but when you educate a boy, you educate only an individual,” he added.

Governor Tambuwal called on the contracting firm to complete the work on schedule, warning that compromise by supervising engineers would not be condoned. Speaking at the occasion, Sultan of Sokoto, Muhammad Sa’ad Abubakar commended the state government for embarking on the project. He stressed the need for all children to

have equal opportunities to education. While describing illiteracy as a ‘disease,’ which had forced people to follow others blindly, Abubakar decried street begging by some children, saying such obnoxious act was un-Islamic. The Sultan however urged wealthy individuals to provide scholarship to children of the less-privileged.

Kano

ano State was at the weekend ravaged by an outbreak of malaria even as hospitals in the state were overstretched as scores were admitted for the disease. The state government

Bauchi

ormer Minority Leader in the Bauchi State House of Assembly, Hon. Abubakar Suleiman, at the weekend, said the feud between Bauchi State Governor, Mohammed Abdullahi Abubakar and the Speaker of the House of Representatives, Hon. Yakubu Dogara and other members of the National Assembly in the state, may affect the fortunes of the All Progressives Congress (APC) in the state in the 2019 general elections.

Cephas Iorhemen MAKURDI

en of the Nigeria Police from the headquarters in Abuja, at the weekend, stormed Benue State and arrested a former Peoples Democratic Party (PDP) governorship aspirant, Mr. Andy Uwouku and three others, who were indicted by the Elizabeth Kpojime Judicial Commission of Inquiry for alleged looting of the state’s treasury. They had since been whisked way to Abuja for questioning. Uwouku was the permanent Ssecretary in the Ministry of Agriculture during Gabriel Suswam’s administration, but was later moved to Local Government Pension Board, where he also served as permanent secretary. He was arrested along-

Abubakar Abdul Sokoto State Governor, AminuTambuwal (middle), laying the foundation stone for the construction of a new government secondary school in Gudu, the only LGA without a secondary school in Nigeria…at the weekend

has however attributed the outbreak to the refusal by more than 60 per cent of the residents to use mosquito nets distributed to them freely by the government. Hundreds of families have been hospitalised while various others turned to traditional herbs as the scourge continued to ravage the state, especially Kano

metropolis. Check by our correspondent shows that almost all the state general hospitals were filled to capacity with patients suffering from malaria as many were seen receiving treatment while others waiting to be attended to. Many also disputed government’s claims of free

‘Abubakar, Dogara’s feud may affect APC’s fortunes in 2019’ Nankpah Bwakan

Alleged looting: Police arrest ex-Benue PDP guber aspirant

side three others, including a former Accountant of the Board, Paul Chile, former Accountant, Local Government Service Commission (LGSC), Moses Burya and former Cashier of the State Universal Basic Education Board (SUBEB), Mr. Jacob Ageva. The leader of the investigation team from the police headquarters, who did not want his name in print, said Uwouku was arrested over what he called illegal withdrawal of millions of naira from Keystone Bank Plc. Makurdi branch, an account he allegedly opened for the Pensions Board which he was the sole signatory. He said the police were investigating Uwouku for alleged diversion of pension’s money and converting it to personal use.

NULGE lauds Kebbi’s agriculture policies

Malaria ravages Kano, hospitals overstretched Muhammad Kabir

He told newsmen in Bauchi that the fight between the two leaders had become unhealthy and called on major stakeholders in the state to prevail on the gladiators to sheath their swords and close ranks in the interest of the party and the state. He said: “Remember both the governor and all the National Assembly members from the state are from the same party. If I may suggest, the governor as the leader of the party in the state, should broker peace with the members in the interest of the party.” According to him, one

of the essential qualities of a leader is the ability to make compromise for peace to reign and should be compassionate and humble by listening to the plight of the people.” Suleiman, however, cautioned the speaker of the House of Representatives to make amends and maintain peace with the governor as further escalation of the feud might affect the fortunes of the party. He advised the duo to use their positions to attract positive development to the state for the overall development of the state and the good of the people.

medication, as they were made to buy everything, including drips for their loved ones. However, the Commissioner for Health, Dr. Kabir Ibrahim Getso, said apart from the fact that Kano, like other cities in Nigeria, had a higher prevalence of malaria with more than three million people treated in 2015. He added that the refusal of 60 per cent of the people to use mosquito nets, with unkempt environment, resulted in the new outbreak. He, however, disclosed that the government had since procured drugs and diagnostic equipment worth N59 million to combat the scourge. Addressing newsmen in his office yesterday, the health commissioner said due to the malaria burden in the state, the government procured drugs and diagnostic equipment, which it had distributed to 38 hospitals in the state to combat the scourge.

Birnin Kebbi

he President of the National Union of Local Government Employees (NULGE), Kebbi State chapter, Umar Faruk Abubakar, at the weekend, lauded the Kebbi State government for its agricultural policies and economic diversification programmes. Abubakar spoke while fielding questions from newsmen in Birnin Kebbi. He said it has become imperative to commend Governor Atiku Bagudu’s foresight of prioritising the agricultural sector in the state. According to him, the sector has provided job opportunities for youths

in the state and wealth in the hands of the common man and NULGE members, who took the advantage of the Central Bank of Nigeria‘s (CBN) loan programme to farmers in the state. He said: “Our members benefited immensely from the agricultural scheme of the governor at the local government level. “A lot of people are gainfully employed by farming; that is why NULGE is always ready to support this good course by the Kebbi State Government.” He also commended the state government for paying the salaries of civil servants while also calling on the government to promptly resolve the problems associated with local governments in the state.

Ortom, PDP biker over Suswam’s eviction from govt lodge Cephas Iorhemen MAKURDI

he seemingly unending political animosity between Governor Samuel Ortom and his predecessor, Gabriel Suswam, appeared deepened as the former had resolved to evict the latter from a government lodge he purchased in the twilight of his administration. The battle over the ownership of the property, located in the highbrow area of Makurdi metropolis, has shifted to the court, where both parties are not ready to shift grounds. Yesterday, Suswam’s party, the Peoples Democratic Party (PDP), blasted Governor Ortom over what it called ‘his brazen disregard for the rule of law by instructing offi-

cials of his government to forcefully take over the residence of his predecessor despite a pending court action to determine the ownership of the property.’ But in a swift reaction, the Attorney General and Commissioner for Justice, Mr. Michael Gusa, dispelled what he described as a rumour that the governor ordered government officials to take over the Atom Kpera Lodge, purportedly allocated to Suswam. The PDP in a statement signed by its Publicity Secretary, Mr. Bemgba Iortyom and released to New Telegraph in Makurdi, said Suswam purchased the property during the George Akume administration, which also served as his residence, following the expiration of his tenure as governor.

WORLD \ NEWS

housands of people in Mexico City have protested against a government proposal to legalise same-sex marriage, which they say would undermine traditional families. Organisers said they were not opposed to gay or lesbian rights, but wanted to defend family values and the institution of marriage. The demonstrators called for a meeting with President Enrique Pena Nieto. Gay and lesbian activists staged rival protests. Public opinion in Mexico, a predomi-

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Mexico: Thousands protest against same-sex marriage proposal nantly Roman Catholic nation, has been split since Mr. Pena Nieto announced in May plans to change the constitution. Samesex marriages are legal in some Mexican states, but Mr Pena Nieto wants it to be allowed across the country. Last year the Supreme Court declared that a ban on such

unions imposed in many of Mexico’s states was unconstitutional. Leaders of the National Front for the Family, which organised the march, say they are not opposed to LGBT rights. But they argue that Mexico has fallen victim of an ideological battle that threatens family values and the institution of

marriage. “In a democratic society you cannot impose a single thought,” said Mario Alberto Romo, a spokesman for the group. Demonstrators are calling for a meeting with Mr. Pena Nieto to debate the issue. LGBT rights supporters turned up at the march to show their backing for Mr Pena Nieto’s

proposal to legalise same-sex marriage, but police said there were no clashes. Some of them carried banners that read: “I’m gay and I’m a Catholic” and “We also have families”. Four Latin American countries have already legalised same-sex marriage: Argentina, Brazil, Uruguay and most recently Colombia.

Finland: Thousands march in anti-racism rallies

ens of thousands of people, including the Finnish prime minister and a former president, have taken to the streets of several cities across Finland to demonstrate against racism and violence in the country. The marches under the banner “Enough is enough” were staged in response to the fatal assault on a 28-year-old man earlier this month in the capital Helsinki who had protested against a neo-Nazi group, according to Finnish broadcaster YLE. The man died September 16 of his injuries, almost a week after he was involved in an altercation with members of the Finnish Resistance Movement. The man was kicked and hit his head on the ground after report-

edly spitting in front of members of the neo-Nazi group. A 26-year-old man, who police said was an active member of the neo-Nazi group, was on Wednesday remanded in custody on suspicion of involuntary manslaughter. Leading politicians, including Prime Minister Juha Sipila, condemned the incident, amid calls to ban racist organisations. Police in Helsinki estimated that 15,000 people joined Saturday’s march to Senate Square. The rally concluded with short speeches by, among others, former president Tarja Halonen, music and a moment of silence for the deceased 28-yearold. Two anti-immigration protesters were arrested at two other locations in Helsinki, police said.

Swiss endorse new surveillance powers

wiss voters have given a strong approval to a law on new surveillance powers for the intelligence agencies. The new law would allow the authorities to tap phones, snoop on email and deploy hidden cameras and bugs. It would help Switzerland catch up with other countries, supporters say. Opponents have feared it could erode civil liberties and put Swiss neutrality at risk by requiring closer co-operation with foreign intelligence agencies. Some 65.5 percent of voters agreed to accept the proposal. It will allow the Federal Intelligence Service and other agencies to put suspects under electronic surveillance if authorised by a court, the defence ministry and the cabinet. The Swiss government says the powers would be

used about once a month to monitor the highest-risk suspects. The new law was not comparable to the spying capabilities of the US or other major powers, which “go well beyond what is desired in terms of individual liberty and security for our citizens”, Defence Minister Guy Parmelin said earlier this year. Swiss law currently prevents authorities from relying on anything more than publicly available information or tips from foreign officials when monitoring domestic threats, according to a government website. The new surveillance law was passed last year but has not yet been enacted after opponents collected enough signatures to force a referendum under Switzerland’s system of direct democracy.

China’s colossal radio telescope begins testing

he world’s largest radio telescope, which has been built in China, is beginning an intensive testing phase. Chinese scientists report that the giant dish, which measures 500m (1,640ft) across, is complete and has received its first signals from space. It will now take three years to calibrate the instrument so it can become fully operational. The facility, part of China’s drive to become a science powerhouse, was opened at a ceremony yesterday. “This is very exciting,” Prof Peng Bo, deputy project manag-

er of the Five Hundred Metre Aperture Spherical Telescope (Fast), told the BBC. “For many years, we have had to go outside of China to make observations - and now we have the largest telescope. People can’t wait to use it.” The radio telescope, located in a vast natural crater in Guizhou Province in southwest China, has been an ambitious project for the National Astronomical Observatories of China. With its 500m dish made up of thousands of triangular panels, it dwarfs the former record holder, the Aricebo Observatory in Puerto Rico with a diameter of 305m.

Police in Helsinki estimated that 15,000 people joined the march.

Uneasy calm returns to Gabon after polls

abon will return to normal after a bitterly disputed election, its newly re-elected President Ali Bongo said, as soldiers patrolled and military aircraft flew over a capital that has been bracing for another explosion of violence. The Constitutional Court late on Friday threw out a challenge against the election results by rival Jean Ping, enabling Bongo to extend his family’s dynastic 50-year rule over the small, oil-producing central African country. Ping swiftly rejected the ruling as biased, and many Gabonese feared a return to the violence that killed at least six people - Ping’s supporters say it was more than 50 - when the result was first announced at the start of the month.

But in a nation that usually manages to avoid the massive bloodshed that afflicts other countries in the region, like Congo and Central African Republic, when power is contested, Bongo said he was confident of a peaceful resolution. “It is business as usual. We are not worried about this state of crisis,” Bongo told Reuters in an interview late on Saturday. “I think that we will go back to normal. Gabonese are peace-loving people.” Yesterday, soldiers deployed along main roads and a helicopter hovered over Ping’s headquarters. A fighter jet roared above the city. The red and white taxis that normally ply its palm-lined seaside avenues were mostly absent. “Things are not normal. The people’s voice was

stolen,” Richard Obame, 46, an unemployed Ping supporter, said, after the jet noise had died down. “If it was calm, would we need the military presence on the streets and the helicopters above the house of Mr Ping?” And yet Ping, whom authorities have threatened to arrest for inciting violence, has so far refrained from calling people on to the streets. That raises the possibility of a peaceful resolution, although Ping insists that the will of the Gabonese people be respected. A statement from the office of U.N. Secretary-General Ban Ki-moon yesterday said he “welcomes the call by the presidentelect for national dialogue.” “It is of utmost importance that all actors demonstrate maximum restraint,” it added.

Syrian conflict: US, Britain, France call for emergency meeting

he US, Britain and France have called for an emergency meeting of the UN Security Council to discuss the escalating violence in Syria’s second city of Aleppo in the wake of a rising civilian death toll and impending humanitarian crisis. The latest step comes as Syrian government forces, backed by Moscow, have heavily bombed rebel-held areas of Aleppo killing nearly 200 people since Wednesday. The UN says nearly two million civilians are left without water in the embattled northern city after government bombardments damaged a pumping station and rebels shut down another in retaliation. Intense air strikes toppled buildings and killed at

least 91 civilians in Aleppo Saturday, two days after the Syrian army announced an offensive to retake the rebel-held east of the city. Mainstream rebel groups said on Sunday that the escalating Russian-backed bombing of besieged Aleppo had rendered any peace process futile unless there was an immediate halt to the fighting and aid deliveries under UN auspices. “Negotiations under the present conditions are no longer useful and are meaningless,” said a statement released by 30 rebel groups including the Free Syrian Army (FSA). The factions said they would not accept to have Russia mediate any negotiations, calling it a “partner to the regime in the crimes against

our people.” The statement was signed by some of the largest factions from across Syria but did not include the powerful, ultraconservative Ahrar al-Sham nor the al-Qaedalinked Jabhat Fateh al-Sham. A weeklong ceasefire agreed between the US and Russia unravelled after dozens of Syrian soldiers were killed in US-led coalition air strikes in Deir Az Zor, which the US called a mistake. The Syrian army resumed its military offensive in the wake of the strikes. Efforts to revive the truce have failed so far with the West, which is opposed to the government of President Bashar alAssad, and Russia have engaged in a blame-game amid a continued humanitarian tragedy.

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Did you know?

Sport Charles Ogundiya

former Super Eagles striker, Tijani Babangida, has said the current poor results and other setbacks recorded by the Super Eagles and football generally could be traced to the current economic recession in the country. Babangida called on Nigerians not to put pressure on the coach Gernot Rohrled Super Eagles ahead of the World Cup qualifiers against Zambia in October 9, because the Nigeria Football Federation would have to struggle to prepare the team for the match. He added that qualification for Russia 2018 should not be the main yardstick to judge the coach but his ability to raise a strong team for the country. “Nigerians should not put pressure on Rohr on qualifying the Super Eagles for the World Cup,” he said. “The situation in the country is very crucial, no money in the country due to recession and definitely the economy has affected football. “We are already behind schedule in preparation for the game against Zambia, without money, we cannot do anything. The spirit is completely down, but the boys have to take up the responsibility. “I want the NFF to design a good plan for the coach, whereby he will be able to develop young talents without sentiments, although we cannot give up on this World Cup after missing out on the last two AFCON finals back-to-back.” Speaking further on the match against Zambia, Babangida said the Super Eagles should be able to get the desired result in the game especially with the current form of some of the country’s players. He singled out English Premier League players- Kelechi Iheanacho and Alex Iwobi- who have been performing well for Manchester City and Arsenal respectively since the start

Sport News

That Leicester lost three games all through last season to win the EPL title but has already lost three in just six games this season

Iwobi: Team work gave us victory against Chelsea

International Chelsea lack self-belief – Ivanovic

44 45

Tijani Babangida to Nigerians:

Don’t put pressure on Rohr, Eagles ...says recession is affecting football of the EPL season. He said: “Iheanacho and Iwobi are doing well and with them, I don’t think Nigeria will have problem getting the goals in the game against Zambia.” Babangida called on the team to play against all the antics of the Chipolopolo of Zambia and also against any harsh call by the Egyptian referee, Ghead Grisha. It would be recalled that Grisha handled the South Africa 2013 AFCON group phase clash between the Super Eagles and the Chipolopolo in Nelspruit, which ended 1-1. He was later sent home from the competition after he awarded a controversial penalty to Zambia five minutes from time.

Rohr

Moses Simon ( right)

I'm still learning at Man City, says Iheanacho

N Adekunle Salami Group Sport Editor

Emmanuel Tobi Assistant Sport Editor

Ajibade Olusesan Sport Correspondent

Charles Ogundiya Sport Correspondent

igeria striker Kelechi Iheanacho says that despite getting a chance under manager Pep Guardiola at Manchester City, he is not taking his place in the team for granted. Iheanacho joined City from the Taye Academy in Nigeria in January 2014 and broke into the club's senior side last season with some eyecatching displays. His blistering form this season - which includes a goal and assist in City's 2-1 derby win at Manchester United - has earned universal plaudits again, but he refuses to get carried away. "I'm not letting all the

praise affect me negatively because I still have a lot to learn in this game," Iheanacho, who has scored three goals in seven appearances this season, told BBC Sport. "It's been a very progressive period for me at the club, but playing alongside stars like Sergio [Aguero],

Iheanacho

Yaya [Toure] and other great players provides a big chance to keep working hard. "I'm definitely learning, quietly listening and watching others closely every day - I know in doing that, I will achieve bigger things in my career." The 19-year-old scored 14 times and produced seven assists last season even though 25 of his 36 appearances were as a substitute. That feat saw him finish as City's third-highest scorer in all competitions, behind Aguero and Kevin de Bruyne. Guardiola has rewarded him with a long-term deal on much improved terms at the Etihad, but the player admits he has a lot of work to do before he can nail down a regular place in the starting line-up.

"We have experienced players in the team and as someone who is learning and improving, I am happy to take my chance when the manager calls," Iheanacho said. "Our manager has confidence in me and has been encouraging me. All I want to do right now is to keep learning under him and work hard for the club." Iheanacho has scored three goals in five appearances for Nigeria since making his senior debut against Swaziland in November 2015. He starred as Nigeria won the 2013 FIFA U-17 World Cup in the United Arab Emirates for a record fourth-time. He emerged as the tournament's outstanding player, being voted the Most Valuable Player.

Quadri: There is pressure to dump Nigeria, but I won’t }46

SPORT NEWS

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Iwobi: Team work gave us victory against Chelsea Charles Ogundiya

uper Eagles striker, Alex Iwobi, has described Arsenal’s 3-0 victory against Chelsea at the weekend as a team performance despite winning the Man of the Match award. Iwobi is not only becoming a very important player for Arsenal but also seems to be seriously humble in his pronouncements on social media. Like most of the other Arsenal players did against Chelsea on Saturday, Iwobi was superb and his energy and quality on the ball were so important to Arsene Wenger’s side. While appreciating the fans for their support, the nephew of Austin

Okocha seemed genuinely surprised about winning the Man of the Match award after the game. “I want to use this opportunity to thank everyone for their support,” he said. “You guys have been amazing and we are looking forward to the Champions League game against Basel on Wednesday. “I don’t know how I got the Man of the Match award, but I believe all the players performed beyond expectations and deserved the victory.” Iwobi is one of the players the Super Eagles Manager, Gernot Rohr, will be banking on to get the goals in the World Cup qualifiers against Zambia on October 9.

NYG: Kano, A’Ibom in good start

Obasi strikes twice for AIK

…as Dalung urges states to invest in sports

ukayat Jimoh of Team Kano and Daniel Mfom of Team Akwa Ibom bagged the first gold medals at the ongoing National Youth Games which started in Ilorin on Saturday. Kano's Jimoh edged out lanky Blessing Peter (Delta State) in the 46kg category of the ladies’ taekwondo to give Kano State their first medal. She had earlier defeated Jennifer Amadi, (Imo) in a keenly contested semifinal. Mesoma Nwakwo of Ebonyi State who lost to Peter in the other semifinal and Amadi took home bronze medals. Elsewhere, Daniel Mfom (-55kg) fought hard to earn Akwa Ibom a gold medal in Taekwondo after defeating Bright Enock from Team Ogun. Suopriye Hart and Osinachi Onyejiekwe won bronze apiece for Teams Rivers and Imo state respectively. Meanwhile, the Minister of Youth and Sports, Solomon Dalung, has called on state governments to invest in youth and sports development. The Minister made the call when he paid a courtesy visit on the governor of Kwara State Abdulfatah Ahmed at the Government house, in Ilorin. "I want to thank and congratulate you for hosting this games. Kwara state will be remembered when the history of modern sports development in Nigeria is written because of the role the state government has played in providing not only

Charles Ogundiya

aking of Champions Ltd has said that the second edition of their athletics event, Top Sprinters, scheduled to take place between September 29 and October 1, would take a new shape after some sponsors confirmed to partner with the organisers of the three-day meet. A top official of MoC, Yemi Olus, told New Telegraph that Lucozade has joined as the Official Energy Drink Sponsor, and will provide free Lucozade Sport to help keep all the

Ajibade Olusesan

ccommodation, but also going out of your way to provide other logistics including financial support for the games. "The panacea to all related development problems is to redirect energy to investment in sports. States will forget about spending on security because those who would naturally have created security problems for you will be dutifully engaged. There will also be much for the economy because there will be commercial activities involving so many people and sports will attract tourism.” The week-long National Youth Games was declared open on Saturday by Dalung. Twenty-one states including the FCT will be taking part in 13 sports and two demonstration events namely rowing as well as roller skating.

Sponsors embrace Top Sprinters athletes well hydrated throughout the race. Lucozade will also be on ground to ensure that fans and spectators will be able to purchase drinks to keep themselves well refreshed while they enjoy all the festivities of the three-day competition. Private Sector Health Alliance of Nigeria has stepped in as the Official Medical Sponsor, to ensure that the hundreds of athletes competing will do so knowing the organisers will have their utmost safety in mind. PSHAN is sponsoring a full medical team for

Alex Iwobi (left)

orgotten Super Eagles striker, Chinedu Obasi, was among the goals in a weekend when most of the country’s stars failed to shine across several leagues in Europe. While the likes of Chelsea stars, Mikel Obi and Victor Moses, were not deem fit to play in the team’s 3-0 loss to Arsenal, and Ahmed Musa was not on the bench for Leicester City in the English P r e m i e r L e a g u e, Obasi was the hero for his Swedish team AIK Stockholm as he scored a brace to help them secured a point at Elfsborg on Sunday in a 2-2 draw. The former Hoffein-

heim striker opened the scoring in the 30th minute and completed a double to make it 2-0 for his team two minutes later. He lasted for 73 minutes when he was replaced with Eero Markkanen. Also former Kano Pillars midfielder, Ifeanyi Mathew, celebrated his first start for Norwegian club Lillestrom on Sunday with a goal. However, Lillestrom still fell 2-1 to Sogndal at home to worsen their relegation fears. Mathew scored in the 69th minute to draw his club level after the visitors took the lead, Lillestrom however let in a second goal three minutes later to lose the game 2-1. Meanwhile, former

Super Eagles defender, Taye Taiwo and Nnamdi Oduamadi on Sunday failed to lift the Finnish Cup (Suomen Cup) with HJK Helsinki after they lost 7-6 on penalties to SJK. Oduamadi, who is on loan from AC Milan, played the full game while the former Olympique Marseille defender Taiwo was substituted in the extra time of the cup final. HJK Helsinki lead the Finnish League with 53 points from 29 matches, three points clear of their closest rivals. Incidentally, they will round up their league campaign on October 23 against new cup winners SJK, who are fourth on the table with 46 points.

Winning Olympics gold not easy – Kehinde Charles Ogundiya Dalung

the event that will be on ground to administer first aid to any athletes as necessary, as well as an Ambulance which will be on standby. This was coming hot on the heels of the ARCO Group Student-Athlete Scholarships awarded to two athletes from MoC Track Club, Joy UdoGabriel and Jeremiah Jakpa. Top Sprinter 2016 is set to be an intense three-days of excitement and topnotch competition, going by the calibre of athletes that will participate in the event, including Olympians and athletes that have represented Nigeria internationally.

ne of the gold medalists at the recently concluded Rio Paralympic Games in Brazil, Paul Kehinde, has described the feelings as out of ordinary. Kehinde won gold in men’s 65kg powerlifting and has said it was a huge task winning the medal in Rio while also thanking God for the feat. He however called on the Federal Government and the ministry of sports to reward the athletes for their heroic performance in Brazil. The athlete who also won gold at

Kehinde

the last Commonwealth Games in Glasgow Scotland said his dream would be to get a house and personal car of his own. “It is not an easy thing winning Olympics gold but glory be to God because I went, saw and conquered,” he said. “Presently I am living in a rented apartment, but I will love to get my own house. The reward of N2.5m received from the last government after the Commonwealth Games helped me to this day from where I got the apartment at Ikorodu, and also settled some personal issue. “Going from one place to another too has been a big issue for me especially going for training everyday jumping from one bus to another. If I have my own car, it will be easier for me.” Speaking further, the 28-year-old said he had started preparation for the World Championship next year and Nigerians should expect another great performance from him. He also advised other special sport athletes not to lose hope as there is ability in disability.

INTERNATIONAL SPORT

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

EPL TABLE 1 Man City

2 Tottenham

3 Arsenal

4 Liverpool

5 Everton

6 Man Utd

7 C'Palace

8 Chelsea

9 West Brom

9 S'thampton

11 Watford

12 Leicester

13 Hull City

14 B'mouth

15 M'brough

16 Swansea

17 Burnley

18 West Ham

19 Stoke City

20 Sunderland

Chelsea lack self-belief – Ivanovic B

Arsenal defender, Shkodran Mustafi (left)

ranislav Ivanovic has admitted Chelsea lacked self-confidence and belief against Arsenal and were punished for their attitude at the Emirates Stadium on Saturday. The Blues came into their London derby game against Arsene Wenger's side hoping to get back to winning ways in the league following their 2-1 loss at home to Liverpool the previous week. Instead, Arsenal stormed into a 2-0 lead within 14 minutes thanks to goals from Alexis Sanchez and Theo Walcott before Mesut Ozil's 40th-minute strike took the match beyond the reach of a lacklustre and defensively fragile Chelsea side. Ivanovic, who was acting as captain in the absence of John Terry in north London, admitted the team just didn't believe enough in themselves at the beginning of the clash - which, in part, allowed Arsenal to score early on. "We didn’t start the game in the way we wanted. We didn’t believe in what we were doing at the beginning and we were punished," Ivanovic told Chelsea's official website.

"As a team we didn’t answer anything the manager asked of us, we have to be honest with ourselves and put more attention on the small details. We have to be more focused and concentrated on the game."

Get used to being subbed, Zidane tells Ronaldo

Totti reaches 250 Serie A goals

RESULTS EPL West Ham

0 - 3 S'thampton

Man United

4 - 1 Leicester

Arsenal

3 - 0 Chelsea

B'mouth

1 - 0 Everton

Liverpool

5 - 1 Hull

M’brough

1 - 2 Tottenham

Stoke

1-1

Sunderland

2 - 3 C’ Palace

Swansea

1 - 3 Man City

West Brom

rancesco Totti has become the second player to reach 250 Serie A goals, but the occasion was bittersweet as Roma fell to a 3-1 defeat against Torino. The Roma icon turns 40 on Tuesday and sent Joe Hart the wrong way from the penalty spot 10 minutes after coming

Eibar

2 - 0 Sociedad

Gijon

0 - 5 Barcelona

Bilbao

3 - 1 Sevilla

Las Palmas

2 - 2 Real Madrid

on as a half-time substitute. That was the 250th strike of Totti's top-flight career, over 23 years after making his league debut as a 16-yearold against Brescia in March 1993. Only legendary striker Silvio Piola, who retired in 1954, has more goals in Italy's top

division with 274. Roma were already two goals down by the time the milestone was reached, Andrea Belotti heading hosts Torino in front after eight minutes and Iago Falque scoring a penalty of his own three minutes before Totti's strike.

I dropped Rooney because he is not fast – Mourinho

LALIGA

ose Mourinho admitted he dropped captain Wayne Rooney so he could inject more pace into his Manchester United team for Saturday's 4-1 victory against Leicester City. The gamble to axe Rooney was vindicated as United swept into a 4-0

lead at half-time against the champions with goals shared between stand-in skipper Chris Smalling, Juan Mata, Marcus Rashford and Paul Pogba, his first for the club. Though keen to offer 30-year-old Rooney sympathetic words afterwards,

the manner in which Mourinho saw Jesse Lingard and Rashford tear Leicester apart with Zlatan Ibrahimovic and Mata pulling the strings in the middle made unhappy viewing for the England skipper, who played only the final seven minutes as substitute.

NIGERIAN PREMIER LEAGUE ROUND-UP

eal Madrid coach Zinedine Zidane insisted Cristiano Ronaldo has to learn to live with being substituted after sulking off the field visibly frustrated in the European champions’ 2-2 draw at Las Palmas. Zidane replaced the three-time World Player of the Year with Madrid leading 2-1, 18 minutes from time, but an unhappy Ronaldo watched from the bench as Sergio Araujo equalised to ensure Real dropped points for the second time in four days. “I have to take him off sometimes,” Zidane said. “That isn’t going to change what we are going to do and continue to do.” At the forefront of Zidane’s mind was Real’s huge Champions League clash away to Borussia Dortmund on Tuesday. However, Ronaldo endured a poor night in front of goal as he fluffed a great chance from Alvaro Morata’s cut-back before half-time and fired straight at Javi Varas in the build-up to Madrid’s second goal.

Ronaldo

Stories by Charles Ogundiya

Rangers close to first title in 32 years MFM, Wolves walk tight rope

R RESULTS Ikorodu Utd 1-2 Rangers Tornadoes 3-1 MFM Shooting 1-0 Wikki Heartland 1-0 Kano Pillars IfeanyiUbah 1-0 Enyimba El-Kanemi 1-0 Plateau Utd Sunshine 1-0 Warri Wolves Nasarawa Utd 2-2 Akwa Utd Rivers Utd 0-0 Abia Warriors

Rangers's Chinedu Udeagha (right)

angers International of Enugu on Sunday laid one hand on the Nigeria Professional Football League title in 32 years after Obinna Nwobodo inspired them to a 2-0 victory against Ikorodu United in Abeokuta. Nwobodo gave the Flying Antelopes the lead in the 25th minute with an brave long range strike while also providing an assist for Chisom Egbuchulam in the 38th minute to make it 2-0. Paul Duke reduced the deficit in the 89th minute but Rangers stood their ground to secure the important victory. A point in their last game against El-Kanemi Warriors will be enough to hand them the title even if their rival, Rivers United, defeat Akwa United in Uyo next weekend. Rivers United failed to take the

title chase to the last day after playing out a goalless draw against Abia Warriors in Port Harcourt while Wikki Tourists lost 1-0 away to Shooting Stars in Ibadan. For ousted champions, Enyimba, it was a disappointing season after ending on a losing note away to IfeanyiUbah. Isaac Loute’s first half goal was enough to hand the Anambra Warriors the three points at stake and a step closer to qualification to play on the continent next year. Meanwhile, MFM are losing their survival battle after their 3-1 away loss to Niger Tornadoes, likewise Warri Wolves who also lost 1-0 to Sunshine Stars in Akure. Heartland however gave themselves a lifeline with a hard fought 1-0 victory at home to Kano Pillars as the game between Nasarawa United and Akwa United ended 2-2.

NPFL TABLE Team P Pts 1 Rangers FC 35 60 2 Rivers Utd 35 57 3 IfeanyiUbah 35 56 4 Wikki 35 54 5 Sunshine 35 53 6 Lobi Stars 35 52 7 Kano Pillars 35 51 8 El-Kanemi 35 51 9 Nasarawa Utd 35 50 10 Enyimba 36 50 11 Tornadoes 35 48 12 Plateau Utd 35 48 13 Akwa Utd 35 47 14 Shooting 35 47 15 Abia Warriors 35 45 16 Heartland 35 43 17 MFM FC 35 42 18 Warri Wolves 35 42 19 Ikorodu Utd 35 32 20 Giwa FC 0 0

GD 12 8 5 15 9 4 7 -1 0 -1 -2 -3 0 -6 -5 -5 -5 -10 -22 0

SPORT INTERVIEW

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Quadri: There's pressure to dump Nigeria, but I won’t Africa’s number one table tennis player, Aruna Quadri, spoke to ADEKUNLE SALAMI on various crucial issues in the sport and his preparation for the World Cup. Excerpts:

How did you start your ping pong career? Was it by accident ?

yet the administrators are not listening. Only God will change situation of things in our country.

Quadri

I started playing table tennis on the streets when I was just seven years old. I never took it seriously because I used to catch a lot of fun by playing table tennis then. I was just lucky to go to a table tennis hall one day and I was discovered by Mr. Oluwole Abolarin who gave the elementary training as a young player. My journey in the game is not by accident. I took the right decision to embrace the game as a career sport. When was you major breakthrough that took you to national limelight? In 2004, I featured in National Sports Festival in Abuja for Oyo State. I did not qualify to be among the team but the coach then, Ayesoro, seriously believed in me and he took me to festival as the number five player. I was not opportune to play during team, doubles and mixed doubles events as I was too young. I featured in just singles event and I got to semifinal where I picked a bronze medal. Nobody saw that coming. The best four players then did not make it to medal zone and I justified my selection by the coach. National coach then, Babatunde Obisanya, was present and my performance surprised him. Two years after, I featured in a table tennis league and did very well to earn a national camp call-up where finally I started representing Nigeria in 2007 at the Zagreb World Championships.

We learnt countries are interested in you to move over as a club player or even for you to change nationality after you performance at the Olympics. How are you dealing with these? Yes countries want me to change nationality and this was not just after Rio but before and after the games. There is so much pressure on me but I won’t change my nationality because I will never disappoint people who took me from nowhere to be a better player today. The main person is Enitan Oshodi President of our federation. Oshodi and his sports-loving friends have invested a lot in me and it’s the best time to have my full support and service as I am ready to represent Nigeria anytime, any day they want and I will always be ready to answer their invitation to represent Nigeria. In 2014, Oshodi and his friends started investing in my career without asking for anything in return and without these God's sent helpers; I won’t be where I am. God bless Oshodi and friends abundantly. If not for these people, I could have joined an oil rich country but I strongly believed that everything is not money and better days are ahead.

Can you look back at Rio 2016 and tell us your general impression? Rio 2016 is so far my best tournament in my career and I pray it won’t be the best ever as am looking forward to feature in the World Cup next month. I was really satisfied with my performance, nobody believed until it happened. I missed a medal because I played against the world number 1 player, I would have beaten any other person because my spirit was so high. Yet I give thanks to God, family, friends, coaches and teammates. You were in the quarterfinal as the first African but you also failed to get into the medal zone against Ma Long. Was it mixed feelings for you or you

I need sponsors to play tournaments around the world

were satisfied with your performance? Nobody saw that coming according to statistics but I surprised the whole world by performing beyond expectations. Purpose of playing in any tournament is not to just to win but to enjoy and m a ke friends, but it’s only in Nigeria that the authority want you to win by all means without adequate motivation, encouragement and preparations. I was very happy to have played against some of the best players in the world in Rio. Not winning a medal was disappointing but I give thanks to God because we were 74 in the draw and to have finished 5th in the world’s biggest tournament was a great achievement. You have been to the Olympic Games twice for Nigeria. What are the authorities not doing right? So many things are wrong and truth must be told since I am not on salary or any form of back up from government. I pray the right people will take over sports to change things positively. This is the worst moment ever in our country's sporting history. The right people are not touched. Journalists have been writing

What is your view on the standard of table tennis in Nigeria? I think the standard of table tennis in Nigeria is getting better and better since the Oshodi board came in. He sourced for sponsors and brought in Lagos Open which has not been happening for years, Nigeria took over from Egypt after about eight years of dominance. We are now having youth development program yearly, facilities are now getting better and better and in this moment more youths are good enough to make Nigeria proud in future through youth development program. Our cadet and junior teams have participated in several tournaments both home and abroad. Nigeria table tennis federation can also boost of having one of the best table tennis boards in the world. Oshodi is the best ever administrator that table tennis has ever had. He won Commonwealth medal which Nigeria missed out on eight years ago. Oshodi produced the first African player to be in top 30 and 25 in the world rankings. He produced the first ever African player to have qualified for Olympic Games quarterfinal and finally he produced an ITTF STAR PLAYER OF THE YEAR which is equivalent to best player in the world and many more. How best can we make the game better in the country especially for the young ones coming behind Continued on Page 47

SPORT

MONDAY, SEPTEMBER 26, 2016 NEW TELEGRAPH

Pat Ekeji’s Corner patrick.ekeji@yahoo.com 08159364282 (sms only)

Senate President, this moment is golden

Quadri

'Rio 2016 is my best event so far' C O N T I N U E D F R O M PA G E 4 6

you? I strongly believe that table tennis will fully be back to its normal position provided the NTTF gets more support financially. NTTF is on the right track because youth development program is being staged yearly now but as a matter of fact it should be staged quarterly if the federation gets sponsors to support the program. NTTF is working hard to get sponsors for this program and also to get sponsors for international tournament for senior, junior and cadet teams and just like we have all witnessed, we are playing tournaments and there is hope of brighter future How do you see the Nigeria and Egypt rivalry in the game. Egypt seems to have the upper hand at the moment. What is your view on this? Egypt’s dominance has been highly reduced. Over the years, they have youth development programmes and the Oshodi-led NTTF had been doing the same just to catch up with them. With more support in terms of sponsors coming in, Nigeria will fully take over from Egypt. Egypt is really spending huge money on table tennis but our country is not and despite this, our never say die attitude is helping us to neutralize the Egyptian might. At the moment, they have no upper hand. How is life in your club? I am really thanking God that am playing in both French and Portuguese leagues, life is alright and good as God is so kind to me. I will forever be grateful.

support is just zero from the government, I had to buy the World Cup ticket, pay my hotel and feeding with my personal money, Toriola has agreed to be my coach for the World Cup of which he is also going to buy ticket on his own and pay his hotel bills just to support me in Germany. The money I got from Mr. Frank Momoh is really helpful and also some money I got from a member of country Club, Mr. Adetayo Adesoji, are the what I used for my ticket, hotel, and feeding for the coming World Cup and may God bless them abundantly. Which other sport do you love and could have taken up as a career apart from table tennis? I really love athletics as I happened to be a member the relay team during my primary school days. I was very good then in 100m and 4 X100m relays. When I got to Secondary school, I decided to go for table tennis because I realised I was much better in table tennis than athletics. You seem to be a shy person. Tell you about what you do in your spare time, your best food and how you relax generally Well, I am not a shy person. I am married to another table tennis player called Olatunde Ganiyat now Ganiyat Aruna. We have two kids; one boy and one girl. I really talk a lot whenever it’s necessary. I hate cheating. I love talking and chatting with friends, family and fans on social media. My best way of relaxing is having a nice time with my wife and kids. My favourite food is Amala and ‘Efo Riro’.

Your rating has Improved, what are you doing to further go up in rankings? Yes, just like two years ago. I am really working harder than before. Going forward, I need sponsors to play tournaments around the world and without playing tournaments regularly my ranking will go down. For this reason, I really need more sponsors in Nigeria as Oshodi had really done more than his best for me. How are you preparing for the World Championship and how do you cope with circuits without help coming from the authorities back home? I am preparing very well for World Cup coming early next month. French and Portuguese leagues are really getting me well prepared for the big war in Saarbrucken city of Germany. Well the

Quadri

s Ilorin hosts the 2nd edition of cannot, and I repeat, cannot honestly the National Youth Games, its aim at any meaningful performancreview became compelling af- es at World Championships and the ter I read the sports on offer. The pic- Olympic Games. ture I see is that of performing same Going by the sports on offer at the experiment with same old formula National Youth Games, it is clear and expecting improved outcome. to me that the “old wine is still beThe National Sports Festival was ing carried around in the same old phased out after the last edition wine skin”. In contemporary sports hosted by Lagos State in 2012 be- administration and management, cause, to all intents and purposes, it there is a clear cut demarcation behad outlived its mandate. In history tween Elite Sports Management and, (1973), essentially the NSF was con- Sports-for-All management. By omisceived as a flagship national sports sion or commission, we as a nation program for accelerating the unifi- are yet to come to terms with the cation youths across the country fol- fact that to achieve desired global lowing the end of Nigeria civil war in podium results which we desire and 1970, as well as serve as a forum for claim in potential status, we need to instant talent-hunt for emerging ath- align our style appropriately. The letes that could possibly be invited by outcomes from London 2012 and Rio National Sports Associations for fur- 2016 Olympic Games reconfirm the ther grooming towards representing position that there is absolute need Nigeria at international and global for a paradigm shift in the way sports sports competitions. In these begin- is funded, programed and politically nings, it was an ‘open’festival but driven. An Elite Sports Development with time, a youth aspect of partici- Program has its own identity in all pants was incorporated ramifications startinto it. Not only did the ing from the basics resulting Festivals beof a flagship package come too unwieldy to such as the National manage, it became emYouth Games. barrassingly exposed Of all the sports I to cheating perpetrated see on offer in Ilorin, by officials especially of only three of them fall the Host State and those within the category A of willing Secretaries sports, so which would of National Sports Asbe the next platform sociations (now Fedfor the other seven erations).Ultimately, Senate president, Bukola Saraki Sports Federations to the combined hosting show case identified arrangement was discontinued, and budding athletes especially , in this difthe Festival rules reviewed and this ficult times. Who shall host that kind of led, inter alia, to the exclusion of any congregation? athlete that had taken part in any two I am encouraged by the Senate previous Festivals. This subsisted un- President’s call on corporate Nigeria til the last edition of the NSF in 2013 to, amongst others, “….play a part in and the introduction of the National ensuring that Nigeria’s athletes have Open Sports Championship, the first the necessary corporate funding to of which Cross Rivers State was to compete at the highest levels on the have hosted in 2015 and; the National international stage… such endeavors Youth Games (NYG). can make up a critical part of the corI congratulate and thank Kwara porate social responsibility contribuState Government for accepting to tions of these companies…” host this second edition of the NYG While agreeing with the Senate (should have taken place in 2015) President, Bukola Saraki, it needs be which was foreseen as a biannual pointed out however that all the counflagship sports program by the de- tries in the World that lead in sports funct National Sports Commission. have as basic driving tools, appropriate The NYG was conceived as a key plat- Acts of Parliament which, inter alia, form for discovery of talents still at guarantees consistent and sustainable school age level. The National Open funding and management for sports Sports Championship and the Na- in general and in particular that of tional Youth Games were therefore the Elite Sports Program. Such Act, conceived as our top most levels of which I have consistently canvassed national sports competitions for the for, should as a necessity return the purpose of selecting the best from the National Sports Commission even if category A sports as classified by the it remains within the same Ministry. then NSC; these are: some events in This will serve Nigeria in the manner Athletics; Boxing; Table Tennis; Tae- all stakeholders look forward to in the kwondo; Weightlifting; Wrestling and sports sector. In this regard Your Excelof course football. lency, charge and challenge the relevant This categorisation by the then Sports Committees under your watch in NSC was the outcome of a painstak- the National Assembly to expeditiously ing exercise in 2011 in our attempt bring up a Bill that incorporates this at introspection and critical evalu- proposal as canvassed, for appropriate ation of sports programs in the na- considerations and subsequent enacttional calendar. It was a prelude to ment. This would be a legacy for which the establishment of the Elite Athlete you will always be remembered in the Program without which we simply annals of sports in our country.

On Marble

Life offers the ordinary people the opportunity to accomplish ordinary things as much as it offers the extraordinary people the opportunity to accomplish extraordinary things.

World Record

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NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS

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MONDAY, SEPTEMBER 26, 2016

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First female army officer in Nigeria: Josephine Okwuekeleke Tolefe, the first female to attain the rank of an Army Captain in Nigeria. She became Second Lieutenant (on Commission) on February 7, 1961, Lieutenant, – May 9, 1961 and Captain on June 1, 1963 voluntarily retired from Service on February 5,1967.

Public arena T he column you write

MPC calls for policy dialogue Boniface Chizea

ollowing the meeting of the Monetary Policy Committee (MPC) which was held on Monday and Tuesday, 19 and 20th September, 2016 when a bold decision was taken regarding the key monetary instruments, the MPC in its Communique called for a policy retreat. This monetary-fiscal policy retreat as proposed was recommended to include trade and budget to design a comprehensive intervention mechanism that would enable the country to exit the recession and going forward, guarantee a robust management of the economy for sustainable growth and development. It remains a matter for the records that prior to this meeting, that there were wide spread strident calls and recommendations including from no less personages than the Minister of Finance, Kemi Adeosun and the President of Manufacturers’ Association, Mr. Frank Jacobs amongst sundry experts and economists that the MPC should drop the Monetary Policy Rate as its veritable contribution to the amelioration of the prevalent ravaging recession. For the Minister she pointedly alluded to the fact that such a move would positively impact the cost of borrowing. It is my considered view that this proposed retreat is needful and urgent and should be put on the front burner to facilitate the attainment of clarity of positions, to reach an agreement on the best policy mix going forward which is badly needed as the country continues to groan under the throes of product market challenge as well as failure of policy which has resulted in the current recession. But before we get into the nitty-gritty of this discussion, it is first in order to admire the professionalism which has been demonstrated by the Central Bank in this regard by not pandering to popular sentiments to play to the gallery by reducing the benchmark interest rate. It speaks further for the need to continue to protect the instrument autonomy which the Act confers on the Central Bank. Too often in Nigeria we allow armchair experts to dictate to those who occupy important positions whose workings are not usually intelligible to the man on the street but who proceed from their narrow perspectives to pontificate, dictate and even intimidate those who have been carefully selected and found worthy to occupy such positions and it is about time we collectively resolve to continue to give these high caliber appointees the benefit of doubt. In my carefully considered opinion, the decision just returned by the MPC is logically, one that really should be expected. It is important also to recall while we are at this that the decision this time was unanimous contrary to the situation when the monetary policy rate was hiked during the July meeting which was carried based on a split decision. For goodness sake the rate was only increased during the July meeting barely two months ago. Is it not early to nurse the expectation of a reversal? Who thinks that this length of time

Jacobs

Adeosun is long enough for the transition effect to work through the system for its impact to manifest? Would taking such a decision not give further ammunition to those who in the recent past had accused the Central Bank of Nigeria (CBN) of adopting a reactionary stance with its policy articulation which had resulted in frequent and unpredictable changes to Policy? What is also an important consider-

This proposed retreat is needful and urgent

CBN governor, Godwin Emefiele ation is that as reported by the Central Bank some of these changes are beginning to return some positive results; there is already some perceived stability returning to the foreign exchange market and since the July meeting an estimated inflow of about one billion dollars has been recorded even though as I listened to my friend Bismarck Rewane being interviewed, it appeared he did not make much of such level inflow as he commented that remittances from the Diaspora amounted to about 23 billion dollars a year which averages to about two billion dollars a month and therefore he thought that we should not make much of that level of inflow. But the authorities that are the gatekeepers are in celebratory mode as based on the fact which they have and which is not really available to any other authority in the country, this development presents a glimmer of hope of better things in the offing in this connection. It will therefore be ill advised to upturn so suddenly this trend due to intemperate reversals in answer to calls from individuals who cannot be better informed and who would tend to see things from their narrow perspectives. Recall as we observed above that the Minister of Finance justified her call with the argument that it would reduce the cost of borrowing! Now the received wisdom in this discussion is that once the borrowing cost is made cheaper, this would automatically translate to increased creation of credit which would contribute to the boosting of economic activities. But the CBN has put a lie to all that by explaining that in the particularly Nigerian situation that the experience in the past was that when; in order to achieve this objective by adopting an accommodative stance to policy, that the banks refused to extend credit to the real sectors of agriculture, manufacturing, mining, industry etc. but instead credit was extended to trade and commerce which ultimately resulted in the piling up of demand pressure on the Naira exchange rate. The authority that should have the facts has presented them and therefore

there should be no further arguments in this regard. I have argued in the past that the best way to proceed for now in making affordable credit available to the preferred real sector would be to persist with the current trend whereby the Central Bank provides badly needed credit to specific sectors of the economy through the establishment of targeted funds for the benefit of borrower at friendly single digit interest rates. In this connection, we recall the Small and Medium Scale Enterprises 220 billion Naira fund which has been languishing without many takers because of the alleged difficulties with meeting the terms and conditions surrounding such lending. There were also similar funds for the power sector, the aviation industry, the Anchor borrowers’ scheme for the production of rice which kicked off in Kebbi State and has since been extended to other states in the Federation. In fact, the Central Bank indicated through this Communique that it is prepared to provide bridge finance for the fiscal authorities to access to be repaid pending the attraction of credit from programmed sources. This is one more reason for the need for the policy dialogue for a consensus on the way forward. The Central Bank argues through this Communique that monetary policy alone has been shouldering the burden of growing the Nigerian economy since 2009 and it is about time fiscal policy kicked in as it really has the responsibility for driving the growth of the Nigerian economy. And that in reality, monetary policy should aim for macro-economic stability as it does not have the instruments to independently grow the economy as it can only play a supportive role. We must also be wary of the situation of negative real interest rates which any intervention by way of forced reduction in interest rates would worsen thereby further undermining the attractiveness of bank assets. Therefore, a meeting of minds to chart the way forward in now called and we cannot overemphasize its imperatives. •Dr. Chizea wrote in from Lagos.

HIGH CHIEF

EDO GUBER: FINAL BURIAL OF PDP IS WEDNESDAY – Oshiomhole

- Hey Comrade Governor, talk is cheap o!

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